Rocky2000

3 hours ago, MancunianStacker said:

It should be much more expensive then. The question is why is it so cheap???

One word

manipulation

4 hours ago, MancunianStacker said:

Maybe 16:1 was just the average ratio that came out of the ground in the old days. With today’s techniques I guess a lot more Silver is being extracted than before. Who knows the real, real truth?

No it’s halved.

for 4500 years 16:1 now it’s 8 or 9 ounces of silver for every ounce of gold

10 hours ago, MancunianStacker said:

Also...

One pound (a Gold sov) in Silver (Ozs in a Pound) would be 16oz of silver.

£22 per oz of physical silver x 16 = £352 

£352 will just about buy a sovereign now.

So all the people who say silver is massively undervalued may be wrong??? It’s bang on what it always was. In £s Sterling that is 😉 

I don’t follow this at all, can you explain?

at the moment silver is worth 1% of gold gram for gram. How can you not agree it is historically massively undervalued?

I think gold will crash priced in silver, but will shoot up priced in fiat

9 hours ago, HerefordBullyun said:

You really think JPM has that much silver nearly 28,000 tonnes? He's right about JPM being crooks mind,

Yes I do

there is a lot more gold and silver in the world than we are told

over 4 million tons of gold and just over a million tons of silver in available supplies

11 minutes ago, HerefordBullyun said:

Ted should change his name to Issac Hunt.....

Ted is the foremost silver analyst in the world, he has publicly accused JPM of being criminally guilty of criminal activity in the silver market, and they never attempted to clear their name 

21 minutes ago, Goldhooked said:

Seems to be conflicting info out there.  This one reckons it’s 600million ounces so nearly half what the other guy claims.  The article is only 2 months old....

https://www.munknee.com/silver-will-move-suddenly-shockingly-higher-soon-heres-why/

Looks like no one outside of JPM knows for sure.

*edit* ignore above, it’s actually originally from an article by Ted Butler in 2017 🤷‍♂️

 

Yes now Ted claims JPM have stacked about 900 million to 1 Billion ounces of physical 

this is about ten times more than the Hunt brothers physical stack and they were accused of trying to corner the market

4 minutes ago, zhoutonged said:

For some reason the seemingly irrelevant Gold Silver ratio continues its march towards mean? How strange, who would have thunked it...

 

That blip to 120:1 will go down in history as the best time ever to buy silver with gold

12 hours ago, Goldhooked said:

JPM have a billion ounces?

1 billion ounces is 28349 tonnes.

According to this website the world silver reserve is 29665 tonnes...

http://demonocracy.info/infographics/world/silver/silver.html
 

So you’re saying JPM hold most of the worlds silver reserves?

How big is this vault?!

Ted Butler says a billion ounces of physical we’re bought with all the bailout money JPM was given over the years

36 minutes ago, freefall said:

That's not always true. Sugar, pepper and Aluminium to name but a few commodities that were at one point very expensive but are now cheap and widely available.

With regards to silver. I think one of the factors keeping the price down is it's often a by-product of say a nickel, gold or copper mines primary output.

So one would have to presume if there was broad downturn in the demand for commodity metals like during a global recession the silver supply would decrease rapidly. The question is does the fall in demand for silver in industrial use fall as fast as the supply does? If not I would expect prices to rise. 

Yes silver supply will be reduced far more than the small reductions in industrial demand 

22 minutes ago, freefall said:

That's not always true. Sugar, pepper and Aluminium to name but a few commodities that were at one point very expensive but are now cheap and widely available.

With regards to silver. I think one of the factors keeping the price down is it's often a by-product of say a nickel, gold or copper mines primary output.

So one would have to presume if there was broad downturn in the demand for commodity metals like during a global recession the silver supply would decrease rapidly. The question is does the fall in demand for silver in industrial use fall as fast as the supply does? If not I would expect prices to rise. 

It’s always a good idea to compare stuff with stuff rather than fiat currency values over time. Yes there are exceptions like the ones you mentioned 

take currency out of it and measure how much of this was worth the same as this over the last few hundred years, you see what is overvalued and what is undervalued 

right now property is overvalued compared with everything

silver is extremely undervalued compared with anything you look at for the last few thousand years.

3 hours ago, OriginalS said:

You can see how it dipped below 6000oz in 2010, I'm betting on it dipping lower in a year or two, that doesn't mean I'm going to pay for a house with silver bullion but I'm going to liquidate a large chunk of my silver for a larger deposit, I'm not looking to buy a house in the next year anyways because of a stupid default I have against my name.

 

But like BYB always preaches on his channel, theirs no point stacking PM's if you don't have a exit strategy

Yes I think it will go much lower than 6000oz in a year or so and then even lower the next few years

we are headed into the next Great Depression 

2 hours ago, GoldElliott said:

Not sure how useful it is to compare the uncorrelated price of two very different assets! the toilet roll to house price ratio is currently at an all time low! maybe we should be divesting ourselves of paper towels

Comparing anything with anything else long term is a very good way to see if something is overvalued or undervalued 

2 hours ago, GoldElliott said:

It would take a HUGE increase and prolonged increase in the price of silver for central banks to think about storing it. At a ratio of 100:1 the physical costs of storage/guarding of silver in any meaningful quantity vastly outweigh its value as a reserve.

I would like to see a return to some form of PM standard (how likely that is remains to be seen), but even a return to the Gold standard is unlikely to affect the value of silver hugely as it no longer features in our coinage! (unless you are advocating for a return to silver in our coinage in a redeemable proportion to gold with the central bank which would be even more unlikely!)

If I can swap PMs for a house I will! One looks nice and is shiny, the other provides me with shelter for me and my family!

JPM have a huge amount of silver in a vault in London

altogether they have around a billion ounces

Can anybody find a long term silver to house price chart?
 

i guess it area specific and you have to take a medium average house over time.

i remember Mike Maloney saying it got down to 500:1 in USA in 1980
 

what is it today in the UK?

1 hour ago, Kman said:

What's your plan with precious metals? to sit on them all your life and do nothing with them 

If you can swap them for a property you wouldn't have been able to afford had you just sat on cash then what a wonderful exchange? any price drop will only  be short term 

I suspect property will be falling and PMs rising for years yet

the silver to house price ratio is ten of thousands of ounces to one mean average house, I can see it falling to a few thousand ounces and I will slowly start to transition out of silver into property 

in 1980 it went down to about 500:1 but this time I can see it going lower if the banking system collapses

4 hours ago, zhoutonged said:

I don't understand why so many people think Gold is better long term. All things in life are cyclical, when the GSR returns somewhere closer to mean Silver will have out performed Gold by at least 100%. Gold has lower costs (fabrication, tax, shipping, storage) very important for short term holding, but Gold is simply leading the way. When all this plays out and Gold is $6k Silver is likely to be closer to $150.

Absolutely 

when the rush to safety starts many can’t afford gold

silver will be a frenzy, it’s going viral

1 hour ago, GoldElliott said:

not when I swap it for a massive house

Property will be falling for a long time, if the banks collapse there are no mortgage and how much will property be worth then?

23 minutes ago, GoldElliott said:

I hope your right Ill happily part with my silver if it goes to £28 per oz or higher

Then pound sterling collapses and you wish you hadn’t unloaded it

4 minutes ago, GoldElliott said:

you are talking in terms of GSR aka silver relative to gold. If a financial collapse happens, sure silver will increase in price but gold will increase in price more. Were currently experiencing the greatest economic retraction (in GDP) for hundreds of years... silver is up less than 5% since 6 months ago before this happened. By your logic it should be much higher!

Over that same 6 month period, gold is up over 25%

We will have to agree to disagree 

the manipulation has to end for silver to correct to true value, I can see a big reset when this thing plays out

1 minute ago, GoldElliott said:

probably. I just dont see anything driving up the value of silver in the long term. Im sure it will go on bull runs, reducing the GSR massively as it does so, but silver is not scarce, used in coinage, not very desirable in jewelry anymore, in demand by countries or central banks, irreplaceable in industry etc. Plenty of thing drive the price of an asset up such as speculation, but I personally can't see anything that will drive up the value of silver.

I hope silver goes to £50/oz and like many on here would do well if it did just my thoughts- I'm not a fortune teller

“I personally can't see anything that will drive up the value of silver.”

what about a financial collapse of epic proportions?

2 minutes ago, GoldElliott said:

.

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Added 0 minutes later...

In 50 years time yes.

You think for the next 50yrs the GSR will stay at 5000yr highs?

7 minutes ago, GoldElliott said:

I dont think there is any real use for the GSR. They are 2 different assets and not very closely correlated.

Over a long time horizon gold has been (and I think will continue to be) a better investment. Demand from central banks is only increasing for gold. Silver has not really increased over the last 100 years- but it's had periods of rapid growth followed by retractions. If you are a 'day trader' type then speculate on silver. If you are planning for your retirement then stack gold.

Personally, I couldn't put my life (or a lot of my money) on silver being worth more when I retire in 30-40 years than it is now, but I'd be confident in making that bet for gold.

You really think there is more chance of the GSR going up even more from here than coming down?

im amazed anybody could think this

1 minute ago, GoldElliott said:

Thats exactly my point- in the long term you are much better off buying gold, but if you're trading on short term frames e.g. from 2008-2011 you can make money trading silver. Fundamentally gold is the better investment, but successful speculators (or lucky people) who buy the dip and sell at the peak can make lots of money from silver.

You are saying the GSR will go up even more from here?

i find it easier to believe it will come down as silver outperforms gold but they both go up as currency comes down 

Just now, GoldElliott said:

Gold is up <5% this week, Silver up >10%

 

Yep, gold is over double it’s 1979 high, silver not even half yet