Silver Is On A Tear Today

I feel like I should understand what you mean here, but I don't...?

 

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Everyone here is in the black. Many of the coins I have collected thru the years are even on a bad buy in the black. Unless you bought yesterday. This is crazy, I do think that it has been necessary, as in a correction. I really see a correction that none of us thought could happen.

 

I know that those $50 buys have now gone to 75 or better. 90 for an AU or better in some shops. Capitol has been the name of the game the past 3 months, a lot of them are running out of it as we wait for the outlet... Who is buying all this refined silver?

 

Industry? I don't know.

 

To make a crazy position and say that a gold standard would turn the world on it's end. oil never hit 200 because no one could afford it. When the rich got gouged, the world reacted. The need for silver is driving the rise.

 

Nobody knows, certainly not me. There are a lot of opinions that the big banking houses shorting silver have certainly taken a big beating. As for bitcoin, a lot of the billionaires in it were early adopters, many when it was priced under 1000 dollars per coin. No doubt they have taken billions of dollars of profit and now play with house money. I'm guessing that's why it took a beating once it reached 120K or so. I'm just mimicking what the idiots who write financial news on a daily basis, playing Monday morning QB and pretending I know what I'm talking about.

 

Does anyone really know what the next trading day will bring? Will it be people taking profit or will the buying surge continue?

 

Parabolic spikes ALWAYS lead to a collapse.

Whether the collpase is now or from another 20-40% higher nobody knows.

While people may all "be in the black"....have premiums some of you paid on numismatics and commemoratives been eliminated and your coins/trinkets now just silver bullion ?

I have to check but because I mostly bought commemoratives at rich premiums, I think only about 20% of my silver trades like pure bullion. Could be a bit higher or lower, I'll check.

 

At $150 -- let alone $200 -- you would have so much oil flooding the market that the price couldn't stay there even if the demand didn't fall off. You would have so much supply, probably an extra 10-12 mmboe/d.

It's why if Venezuela, Russia, and Iran ever act normal and civilized....oil is going lower, probably trading $40-$55 instead of $55-$75.

I realize the world needs silver, but at $100 you can now switch to copper and other metals. Demand destruction hits at that level -- even the Silver Institute acknowledges it.

 

I disagree, while that is on the highside
We have also heard of a vaster distribution of wealth.