Precious Metals And The Coronavirus

Sure you can play God on this one.
You might as well bump your figures to 15% you know that where your getting data is off by 10%.

 

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I went to Walmart yesterday. Despite the "news" of frantic mobs emptying the shelves, it was no more of a zoo than usual. What was funny was getting back to find a Chinese menu stuck in my door. They've been doing this two or three times a year forever but it was just funny to see it now. Chinese food...yeah man, I'll have the Wuhan Bat soup to go.

 

We need a satire token:

GOOD FOR
ONE
BUY THE DIP
SCREECH

And perhap a pictorial obverse of someone frantically throwing a revolver at someone.

 

Howdy folks,

Here in mid - Michigan, we're not seeing a lot of shortages or hoarding other than the obvious stuff like Purell. That said, I fear things are going to get worse before they get better. The 'survivalists' have been hoarding but that may be helping the POG and POS as the geopolitical situation gets crazier and crazier. One thing to remember, is that the POG was already at a high as expressed in every other currency in the world - just not the $. And the powers that be are still doing their best to keep the lid on the prices here at home as I write. It's just getting harder and harder and this pandemic is exactly what could cause the paper bullion market to implode. How many investors of options are going to opt for taking delivery? It wouldn't take much.

As for market moves, hell, I went to the mattresses November 2016 in the sense I raise my cash allocation by two units (20% of portfolio). I always play the junior silver miners and keep a couple around as canaries. That's what went off in 2002 at the start of the Big Bonanza. Right now I've added to SILJ, CEF, and added GDXJ. Owned PRPFX and SGLDX for years. Also adding to physical side beyond the normal beginning of year purchases.

And again, good people, please buckle up and take care of yourselves,

peace,

rono

 

How many paper bullion buyers want physical delivery. Physical gold, in the dollar values we are talking, is an expensive liability. It's expensive to secure and insure it. Plus, if you are ok with paper then you are not like us to begin with, who like the look and feel of it.

I just don't see this changing the fundamentals of the market, and all paper buyers wanting the metal. There are many reasons the paper market was created, and those benefits are still real to these people. You can buy or sell millions in PM in seconds and get 100% of the value in cash. Physical pm it takes you days or weeks usually and the buy price is discounted .

 

You can't just decide at any time to opt to take delivery from a previous non-delivery contract without paying the cash difference plus charges at the time. That is a fallacy the Gold Bug websites have been pushing for a long time. No gold or silver or anything is in danger of disappearing from the market. The Hunt brothers tried that scenario, so the government changed the rules midstream and they would do so again if the market makers were in danger. IMO, Jim

 

.

 

Oh my, that's a big one. Are they compensating for something?

 

Love those wallstreet pics.

Here's a mantra for dem: "I got my Depends I got my Orange Crush"

 

Plunge protection team fall asleep?

 

Well, I bought in some more. If I like a stock at 55, I like it more at 43, and LOVE it at 37. Time will tell.

 

Keep the politics out !

 

PPT isn't political, it's believed affiliated with the Treasury Dept.

 

That's it, time to melt my collection! What's the price of zinc today?

 

Wait for it.



Here it comes..


"Well that escalated quickly."

 

Interesting posts, but no relationship to "Bullion". How about posting in the "General Discussion" thread? That way, you won't troll people into political discussions.

 

If you feel I violated any rule, please report me to Doug with your specifics. If just trying to irritate me, nope, won't happen . Jim

 

From what I have read and believe - it going to get bad in the USA in the next few weeks. Based on infections in other countries - There is a slow starting curve of infection and then a extreme exponential curve up. If you can stay home, work from home, or practice notable social distancing (6-10 foot away from others) in your daily life - you must start now. Especially if you are older or have notable underlying health issues such as heart or lung conditions.