HonestMoneyGoldSilver

I'll read and get back to you later, my to-do list just went crazy, as always, on a Friday afternoon 😭

Super complex question but the TL:DR figure according to my research based on AISC (All-in Sustainability Cost) is $18 and rising. Many major PM and base metal producers are in countries with high inflation - e.g. Mexico, Turkey, Peru, Russia, etc. Then other major producers like Canada, USA, Australia, Poland also have inflationary pressures. Some major mining corps would become unprofitable at $20, e.g. Endeavour Silver Corp. Others would remain profitable until $15-16. If you're asking when all mines would become unprofitable it's probably around $13 but there's only a handful in the world, mostly in 3rd-world countries like Burkina Faso, that can sustain that price. Those operations are part of larger global concerns so even if some mines may be profitable at $13, the combined AISC across all operations would make the conglomerate unprofitable. There is no such thing as "can't go below this price" as silver is a necessary commodity and could be subsidized by the state such as with energy in recent years or the financial system in 2008. Another source of complexity is that silver-only mines account for 17-25% of total production - the other 75-83% comes from multi-faceted gold and base metal operations https://www.thesilverforum.com/topic/368-silver-monitoring-thread-£-gbp-only/?do=findComment&comment=848171 This leads me to believe the current average AISC for the major silver mines is $18 and that this floor is currently rising. (Silver and gold usually occur together in the same deposits although it's possible to find them individually. Arguably silver is a "by-product" of many mining operations focussed on gold and base metals such as copper, zinc, lead, etc, and sometimes vice-versa, base metals are a by-product of PM mining). Here is a brief summary of the AISC figures and YoY changes I'm talking about: Pan American Silver Corp (PAAS, Canada, Latin America) - $17.97/oz (+ 10% YoY) SSR Mining Corp (SSRM, Turkey) - $15.91/oz (+29% YoY) Hecla Mining Company (HL, United States) - $14.20/oz (+11% YoY) Fortuna Silver Mines Inc (FVI, Canada, Latin America, Burkina Faso) - $14.46/oz (-8.8% YoY) Endeavour Silver Corp (EXK, Mexico) - $20.27/oz (+16% YoY) Average AISC for those companies (Q3 2022) is $16.56. It seems obvious that as AISC goes up (which is the way it's definitely trending with inflation, energy, labour, finance, ESG, etc) or down, that this would correlate strongly with the spot price of these metals, although this relationship is perhaps not as robust as one might expect. Regardless, if the spot price goes below the AISC, the mines will reduce or stop production as you can't run a business indefinitely that is unsustainable/unprofitable. It is my hypothesis that the absolute bottom of the market for silver was/is $18/oz and that it's unlikely to remain below $20/oz never mind $18. The Pearson's r coefficient between silver and gold ranges between 0.7-0.9 depending on observation period, which is strong to very strong - broadly speaking their price action is mirrored. The coefficients (which vary depending on observation period) between gold, silver and base metals are also positively correlated although in the moderate to strong range as opposed to very strong. For reference the coefficient between BTC and ETH is around 0.89 depending on observation period. We observe that virtually every time BTC or ETH go up or down, the other (and the entire market in the case of BTC) will follow this price action. The relationships between precious metals and base metals are well understood. A massive drop in silver would in all probability coincide with a large drop in gold and also a significant drop in base metals prices, which may affect the AISC (All-in Sustainability Cost) dramatically

Very cheap indeed: £160

Shhhhhh 😂 1996 Kook please if still available @arphethean

Davemundo talking some sense here. Even cyber security experts and alphabet agents get spear-phished. Sometimes attack vectors are so sophisticated it's predator and prey. As for websites and businesses, yes 100%. Folks have given their life story to bookies, online casinos, crypto exchanges, mortgage brokers, auction houses, trading platforms, social media, telecomms and energy companies. Many go out of business or get absorbed by another company and security takes a back seat. Then countless others have internal fraud, get hacked or are forced to hand over details to HMRC and LE. I can say with a high degree of confidence that if I wanted your details I could purchase them on the darknet today. So many large companies have been hacked with hundreds of millions of data records each. The incentive for a staff member to accidentally on purpose walk out of the building with an SSD card is huge and if that staff member is in charge of security, how do you stop it? You can't! Ransom and malware hits so many businesses who pay up and nobody finds out for years, even though it's a legal requirement for them to disclose any data breaches. Depending on your line of business declaring a data leak could wipe billions off your market cap. Yep, and you can only spend those tokens in the company shop and buy pre-approved company products at inflated prices

£120

£27

I find it hard to think in Old Empire tokens. In New Empire tokens it looks like we're gonna test the firm support at $22.50. If that goes it will be a re-test of the fundamental floor of $18-20, so yea, it's possible it will get to £16s. I see it holding firm above £17/$20ish. Just my opinion of course and I thought we would hold $24, hopefully we get back there soon

@stefffana SPPOOOOOOOOOOOOOOOOOOONNNNNNSSSS 😍

Silver was always a multi-year play for me. I don't expect to sell any until 2025 and I will be keeping most of what I've bought forever. Still sucks that markets are so irrational like why if silver 20 days ago was worth £20.73 is it now only worth £18.46? Meanwhile Nvidia can stack Intel and Micron in a single day. Eventually markets will catch up with reality

One of the forum sponsors - Bleyer Bullion - have this advertised at a great price although it's currently out of stock and you have to register and join a waiting list to get one (£716.76): 1kg Silver Australian Lunar Pig Coin, 2019 (bleyerbullion.co.uk) These limited edition one kilogram Silver Lunar Pig coins are produced by the Perth Mint in Australia. Each 1kg coin is supplied as new in mint packaging and contains 1,000 grams of .9999 fine silver.

Thank you for your sacrifice, sir. Your country and your forum appreciates your service

This 100%. I watched these videos on YouTube a while ago and I'm like, this is one of the most disgusting things I've ever seen. Dude is poisoning everyone in his block and making the plumbing system toxic. Rental property of course 😂 I had a chuckle at one of the comments: "This made me sad watching. The damage to everything and everyone around you as well as damaging yourself. Take up a healthier hobby like smoking, flatlining or re-using discarded needles"

This is me. If I was in Texas I would have more guns than Desert Storm. I want to go hunting with a Phalanx CIWS, take out every bird within a 100-mile radius in one burst A Barrett M107 50-cal and an Accuracy International AW50 are on my bucket list. Might leave them to the end though, just in case 😂

@katyc - that is INSANE, more than 200 times price-to-earnings valuation on Nvidia. Added more market cap overnight than Intel and Micron combined!!!

In the simplest terms, yes, a stronger USD. You can earn 5.59% PER MONTH with the US 1-month T-Bills. People who would have otherwise invested in gold or bought physical precious metals are being advised to put their money in those high-yield monthly treasuries instead. It's solid advice. The rates won't stay at 5.59% for long but if they did, compounded over a year that's 80% return on a "risk-free" asset. If anyone is wondering you can't buy them directly in the UK but you can use a broker/buy secondary market bonds or buy ETFs linked to US treasuries: How to buy US Treasury Bonds from Europe & the UK (2023) (investingintheweb.com) When the Fed cuts rates a lot of the money in these risk-free cash and cash-equivalent assets will flood into precious metals

I can give you one for a cheaper price than bullionbypost including delivery and a capsule but @theman73 will smash my price. It's nice to know for once that I have more Britannias than he does though - I have 250 of the 2023 QEIIs 😎 They are worth more than the 2023 KCIIIs as the QEIIs are limited mintage (partial run, they originally claimed 2022 would be the last year before they pumped out some 2023s), and they are the last ever silver Britannia with QEII Wait for theman or one of the other amazing sellers on TSF. They will give you a price that will make you laugh at bullionbypost. If they are available I advise you buy a tube (25)

2 please

I agree with that 100%. When you can get 5.59% on a monthly T-Bill you would be a fool not to take it

For that particular coin if you only wanted one the shipping is £53.35 If you wanted 3 the shipping is £0

Depends what you buy and how much you spend. For numismatics it's free if over $500 USD (HK$3915) For other items it varies according to precise weight, can be £30 can be £150 depending on network and express/economy + insurance of 0.5-1% of total order Easiest way to find out is put your items in the basket, start the check-out process and use the shipping calculator

Same, those Kooks are calling me. I'm gonna have to log out before I buy them, seriously, like someone has left a freshly baked pie on the counter and told me not to touch it

Guess who just bought the silver dip to the tune of > $100 million? Wasn't me, unfortunately: Looks like Blackrock think anything below $24 is a bargain. Even if they are wrong they will cheat so they're right again. Good news for the silver stacker, finally! The last 2 weeks have been brutal. Blackrock's actions suggest the Fed will pause on 14th June. I still think they will hike but if Blackrock by inference of taking this huge silver position say the Fed is gonna pause, then the Fed is gonna pause, right?

I love Senator John Kennedy, he is not a bully. He is a straight-talking American Patriot As for the discussion about rates rising and controlled demolition, that is not how it works. Every single bank in the world, except for SVB, has interest-rate and currency-risk hedges. The fact that SVB didn't hedge is not just incompetent or criminally negligent, it is an outlier. It is the most standard practice to hedge these things for a bank, it is a standard as a mortgage holder having insurance. Not having insurance is a violation of your mortgage agreement and not having hedges running a bank is equally as moronic and a violation of fiduciary duty to shareholders. Consider how stupid this is - interest rates are at an historic low. You decide to lock up your funds for 10-15 years with an average yield of 1.74%. You have made an enormous bet that interest rates won't change over that period. I could discuss exactly why SVB made this decision but I'll defer to the reference below. Interest rates could only ever go in one direction - UP - and when they did go up, under the structure used by SVB they were always going to be toast The CEO of SVB said, "we did have hedges and it was controlled by the asset-liability committee" .... "there were hedges that were put in place" LIES SVB was 100% naked with zero hedges and we can prove it from their own filings!! SVB didn't have a head of risk management for 9 of the 12 months leading up to their collapse. As the next Senator after Kennedy said, SVB violated their own internal protocols on interest-rate risk breaches and liquidity shortfalls on several occasions. That's not a huge surprise when they had no head of risk management! Here is Patrick Boyle, a former Finance Professor and a current hedge fund manager discussing SVB. He lays it out perfectly. This is the best video about SVB on the internet:

If you ask the CCP where this system is already in place or due to be implemented, they would say yes, if your money expires it's gone, worthless. They wish to control consumption patterns by having expiry dates on funds but also providing offers at other times to save funds - heavy incentives to spend or save to boost the economy or reduce inflation.