Silver Is On A Tear Today

I sold the bulk of mine at 25. to buy a new tractor. Talk about hindsight. I see provident is paying descent prices for buy back Maybe some more should go.

 

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What I’m saying is when interest rates are cut it tells investors that the dollar is weaker. That’s what causes silver to rise by the Fed cutting interest rates.

 

At least you spent the money on something that you needed. Tractors are a costly item. But they have many uses. Isn’t hindsight great? I wish we had foresight like we do when applying hindsight. Lol

 

But if it's the END of a cutting cycle....and other countries and/or the ECB are going to cut for a while longer....that wouldn't be a tailwind, but a headwind.

I get what you are saying, CN....I just wouldn't bank on it being a material or long-term source of support/demand for PM or silver prices.

 

Definitely not a long term reaction but that short term one can make you rich or break you.

 

As long as you hold on to the original principle, your playing with other peoples money and thats the way I like it

 

How much plowing and hauling could you have done with the silver if you'd kept it?

 

Lack of supply, obviously. The LBMA was drained of it's "silver ocean" (liquid free float) back in Jan/Feb. We saw the evidence for this in September when lease rates blew out. JPM told India they would have to wait until November to receive the LBMA silver they purchased in October (technical default has already happened). COMEX has been in panic mode all November trying to help the LBMA. Someone at the CME panicked unless you believe a triple redundant cooling system shut down just the precious metals trading last Friday while the rest of the data center carried on.

 

Way back in 1980 when silver went bananas I sold 300 ounces of inventory for $48 an ounce. It helped to cover the GIA Graduate Gemology degree and the costs of living in Santa Monica for seven months.

 

I believe, at least a small contributing factor in the sudden and explosive rise in spot silver has to do with India accepting silver as collateral for loans. Beginning in April, 2026, the Reserve Bank of India, RBI, will begin accepting silver jewelry and silver coins as collateral for loans.

The extreme poverty in a large segment of Indian citizens will free up hoarded silver artifacts as well. Due to the poverty levels it's anticipated that a large portion of those collateralized loans will go unpaid. The RBI will then retain the silver and put the loans into default.

 

If I wouldn't have fallen in love with coins. I would have been a stacker. If I was stacking for the past 20 years not collecting? My assets would be much larger than they are, and that is on a single father's meager budget. I do agree that the writing is on the wall. The value of the dollar keeps declining. Debt is out of control. And the idiots that say you can print your way out of the problem are only making it worse.

 

I’m a collector as well. But I do have my stacks in various different forms.

 

I have small stacks. Just not enough of it.