Silver Squeeze Explained in 2 Minutes!

I thought this was great! The comparison between silver and lumber really resonated with me.

 

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Same trope trotted out all of the time by the PM pushers.

First, PM has not always been valued by humans. It was taught behavior, with the religious aristocracy wanting gold for ceremonies and costumes, and this demand "taught" neighbors gold was valuable. It started in the fertile crescent and expanded outward the idea gold or silver was "valuable". It got reinforced by coins when they were invented because gold and silver happened to be a good metal for them in terms of value and resistance to corrosion.

Second, call their bluff on the CME. Think its phony? Then buy a contract with cash up front and take delivery. All markets have things called "basis risk". This is the difference between market prices and cash prices where you are. Many times its the opposite of pm, and the basis risk is the local price you receive is LESS than the market price, since yours is here and the market is a certain form many miles away. If anyone does not understand this aspect of commodity markets, please take a class. Without this understanding of how ALL commodity markets work, you are simply speaking out of your (not your mouth).

The comparison to lumber has always been able to be made. Even when lumber was cheap, a 16' 2x12 cedar board has ALWAYS been worth more than an ounce of silver. So what? Are you going to use silver to build your deck? A good filet mignon from a steakhouse is more expensive as well, are you going to eat silver instead? I am just pointing out the irrelevancy of the argument.

Not directed at you OP, thank you for posting. Just providing some critical comment. The same stuff has been said over and over ad nauseum by the PM pimps for decades.

 

Hey !! How did they get a cointalker in the Video ? HOW BIZARRE !

 

They did? If so I didn't catch it.
The song was pretty fun!

Yep. I always think of the natives in N. and S. America who didn't care for gold in the slightest. I think it was the Sagahun codex that said that the Spanish lusted for gold "like pigs". It is taught, exactly as you said. Not like I doubted you or anything, you're much smarter than me but it is an interesting thought I also had watching the video.

 

Needs vs. Wants. Man has done everything under the sun to convert Wants into Needs. Shaped behaviors and human constructs in that effort.

I wonder how much clean air and water are worth?

 

Good video, thanks for posting.

 

Numismatic News has a good article this week that explains much about silver. I did not know this but apparently the U.S. Mint has a contract with the Perth Mint to supply blanks for silver eagles. The Perth Mint cannot keep up and still supply themselves with enough to strike the own coins. This is causing a backlog for the U.S. Mint. And laws on the books prevent the U.S. Mint from spending more than a certain amount for silver and on and on. Too much to explain without the article in hand. But if you can read this weeks issue.

 

The #silversqueeze is working, at least here where I'm at, went to the local bullion store and there were slim picking's for silver. They had some over priced foreign coins, but that was it.

 

I'm waiting 3 weeks so far for an order from Golden State Mint.

I called on Friday to get an update, and was informed they didn't actually have any of the items I ordered, that they "mint to order."

I think the translation might be, they don't have sufficient silver to mint the coins to keep items in stock to meet demand?

 

Couldn't find it if you can post a link, or is it paper only?

 

Don't worry, Golden State Mint usually takes awhile. I think my last order took 6 or 7 weeks and that was last year.

 

Keeping items in stock costs money, and poses risk if the price of silver drops.

Money tied up in inventory isn't earning them more money; it's costing them, for storage and security.

 

Here's a good video if you're thinking about selling.

 

As always, if anyone wants to summarize the content of the videos in a paragraph I can read in a few seconds, instead of making me sit through minutes of video, I'll be happy to read it.

 

Yikes, that's a long wait! BTW, those rounds you got look great!

I ordered a bunch of Freedom Girl and Aztecs. As popular as those are and for how many other bullion dealers sell them, it's just surprising they don't have any, everyone is sold out on these.

 

It's a less than two minute music video... Hard to summarize quicker than that!

 

Welp, then maybe they should disclose they don't have any inventory before customers pay them for product that appears to be in stock?

 

I only get the paper issue but it will likely post in a couple of weeks online. I know, too little to late. I tried scanning the article so hope you can real it alright. edited - copyright

 

Thank you!

 

Its definitely a surge in physical demand. This surge always creates physical shortages since they were not geared up for that demand. However, that is for small retail quantities. Last I heard there is not a shortage of bullion on Comex anyone with a large enough checkbook can buy at spot.

Therefore, I agree there is a retail "squeeze" of silver going on due to unnatural demand, just like there was a squeeze in toilet paper last year. Same story.