Serious question for Joe Lee and others...
- Thread starter philduckworth
- Start date
Careful chasing the Paper derivative when it comes to precious metals. For example right now (usdebtclock.org) there are 186 pieces of Paper Silver per every 1 ounce of Physical Silver...a bit like 186 people playing Musical Chairs with just 1 chair, you just pray the music doesn't stop / pray the holders of the Paper derivative Silver don't ever ask for delivery of the Physical Silver.
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That's interesting, but this isn't a long term play. This would be about a 2 day hold.
Premiums on silver just shot up.
American Silver Eagles are now selling for 45 bucks and change on Ebay. It looks like the inverted gold:silver ratio is breaking out so it could very well be that time the hard asset investor has been waiting for. Good luck to all!!
2021 $1 American Silver Eagle 1 oz Brilliant Uncirculated | eBay
American Silver Eagles are now selling for 45 bucks and change on Ebay. It looks like the inverted gold:silver ratio is breaking out so it could very well be that time the hard asset investor has been waiting for. Good luck to all!!
2021 $1 American Silver Eagle 1 oz Brilliant Uncirculated | eBay
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As a former commodity trader I will say this... We are in a whole new ballgame these days. The WSB trade is not enough to move silver, but institutional buying might jump in... That said, GME is small enough for Fishwater to move on his own ( $1.2 billion mkt cap at the start of the squeeze.) Silver is a $1.5 trillion dollar market.
The biggest problem is none of you can get into commodity exchanges. You will have to buy etfs or miners or other funds... Each of those are paper until they buy up physical commodities, which would take weeks on a big run. That means a lot of stops and starts.
There's a lot of moving parts, but I will link an article that explains well...
https://www.bloomberg.com/amp/news/articles/2021-01-29/reddit-mob-bids-up-silver-other-commodities-are-harder-to-crack
With all that said, I don't know what the 17 is going to happen. The big boys are going to get involved, but us regular jokers are only on the ride. I might jump on some miners or jr miners in the AM... But I will watch it close.
Be Warned. Commodity markets are where real monsters be... Good luck.
The biggest problem is none of you can get into commodity exchanges. You will have to buy etfs or miners or other funds... Each of those are paper until they buy up physical commodities, which would take weeks on a big run. That means a lot of stops and starts.
There's a lot of moving parts, but I will link an article that explains well...
https://www.bloomberg.com/amp/news/articles/2021-01-29/reddit-mob-bids-up-silver-other-commodities-are-harder-to-crack
With all that said, I don't know what the 17 is going to happen. The big boys are going to get involved, but us regular jokers are only on the ride. I might jump on some miners or jr miners in the AM... But I will watch it close.
Be Warned. Commodity markets are where real monsters be... Good luck.
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The US Dollar market is much larger than silver, and it's a Titanic headed for an iceberg. Look at how much debt we've added in the last year.
The dollar is interesting. It's strength is relative to other currencies. It's the fascinating thing about a global pandemic... Everyone else is printing money too. Right now, the DXY is threatening for a breakout in an inverse head and shoulders pattern... It may not play out, but it's on the table. DXY closing above the $91.00 mark is a bad sign for equities and commodities in the short term.
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JP Morgan already got fined for precious metals manipulating...a lot of "spoofing" to try to keep the Silver price down.
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No doubt - killing my oil 3x - print some more money please - do yo thang politicians the mid-terms are just around the corner
Find a way to sell it to speculators tomorrow. No idea where it will go from there, but Monday physical silver will be up 30% or more from Friday.
I hate to say it but GME is almost squoze and all the other "short squeeze" plays are dumb, especially SLV. It might pop to 40 an ounce and you could make a killing if you YOLO some OTM SLV calls with the February strike date, but it's riskier than GME.
I'm hoping for a big week in the SPAC world. A few merger announcements, especially with CCIV and either IPOD or IPOF are in order.
If CCIV merges with Lucid Motors, it will be a very big deal. Much better than the Nikola crap last year.
I'm hoping for a big week in the SPAC world. A few merger announcements, especially with CCIV and either IPOD or IPOF are in order.
If CCIV merges with Lucid Motors, it will be a very big deal. Much better than the Nikola crap last year.
I’ve been sitting on cciv for a few weeks pretty pumped about r position
I don't understand how all the money printing is going to play out. If it was just the US, it'd be easy enough to predict doom and try to tilt your investments towards other developed countries, but most developed countries have at least two if not three of the same qualities: (i) they have 'promised' that future taxpayers will pay a **** ton of money for retirees, (ii) they have a population that is not producing future taxpayers, or at least not at the rate needed to keep up with taxpayers that are dying, much less taxpayers that are just nominally taxpayers because they have reached an age to automatically qualify them to be on the dole, and (iii) they are printing money.
Generally, the developed countries that don't meet those characteristics are generally small enough in size and number that they will just be along for the ride when the **** hits the fan for the rest of the developed countries. China would be a place that could take the US's place, but they've pretty much already 17ed themselves. The one-child policy has given them huge demographic problems and they are printing money themselves.
If you took the amount of gold the US claims to have, it is worth around 115 trillion dollars. Might be a little more or less. I guess if they really have that amount of gold we still have one hell of a net worth.
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PPP round one forgiveness application submitted last week.
PPP round two application was just submitted also last week.
SBA Loan relief for Feb-Apr was just confirmed.
EIDL payments begin in June, for me.
I'm a few weeks ahead of you. We got the PPP Round 1 forgiveness in late January. Received PPP Round 2 funding last week.
We were very close to getting screwed by our accounting methodology for the 25% decrease YOY. On a cash basis, we were down like 26% Q2 over Q2. On an accrual basis we were down like 60%.
We were very close to getting screwed by our accounting methodology for the 25% decrease YOY. On a cash basis, we were down like 26% Q2 over Q2. On an accrual basis we were down like 60%.
Where do you get this number? The best estimate I've seen for the total gold market cap is in the $10-12 trillion range.
You are right. The Treasury has to publish a balance sheet every quarter of its holdings. 261 million ozs if total gold. About $.5 trillion at current market.
Slightly OT - If you had some $ in the market, would you consider starting an LLC to manage it?
Wouldn't you then be able to expense a **** load of items (financial publications, cable (Fox Business news, C-NBC, etc.), you're likely already paying for personally. Plus, if the investments were to lose $, they'd be a tax deduction.
The downside being it would be another set of books and records to run.
Wouldn't you then be able to expense a **** load of items (financial publications, cable (Fox Business news, C-NBC, etc.), you're likely already paying for personally. Plus, if the investments were to lose $, they'd be a tax deduction.
The downside being it would be another set of books and records to run.
They'd still be investment expenses, same as they are if you paid them individually. No longer deductible until 2025 under current law. Even then, it wouldn't matter if you paid them personally or through an LLC, they'd still only be deductible as investment expenses. And the loss if your investments lose money will still be limited to $3,000 per year whether they're in an LLC or held personally.
That is what they make available. If you add up all the gold in all of the depositories they have 261,498,926 ounces of gold. Just do the math. FT Knox alone has 140 million ounces. Gold is hard to figure out and (I could be way off like you said). I am not a mathmagician.
261,000,000*1870 per oz =$488 billion
https://fiscal.treasury.gov/reports-statements/gold-report/current.html
Key line from that site:
The market value of the gold reserves based on the London Gold Fixing as of September 30, 2020 was $493.4 billion.
Not to keep piling on, but $115 trillion is such a big number we could pay off the entire national debt and give every american taxpayer a $2000 check each month for the next 27 years. That **** would have been sold off decades ago.
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yes, bought this am and it's going to go up this week for sure.
Just set a market stop order and take your profits later this week.
Just set a market stop order and take your profits later this week.
^^This. I looked at a while back. The only way an LLC might make sense is if you want to combine real world investments like real estate or small businesses. Patdog would know more though.
Down $100 today, to $225.
and now down to $187 after hours by another $37 or so.
It's a fluid situation
and now down to $187 after hours by another $37 or so.
It's a fluid situation
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