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Wonger

Silver price about to plummet

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On 02/08/2019 at 03:44, Alex said:

I hate silver,I really do.Gold went up considerably but silver went down.I hear people talking about GSR and that silver has more potential than gold.Wake up people GSR it`s just going to get higher and higher.Silver is a waste of time and space.

Especially space and the premiums. I love silver honestly. I think it’s a lot prettier than gold visually. But storage does become and issue. They are both great physical assets to have. But I am slowly buying more gold than silver these days. Primarily due to the space issue.Silver just takes up way too much room. It starts to make it impractical.

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14 minutes ago, Ablist said:

Here we are at Dec 31st 2018 and we sit right at about $18 as I post this. Good one ☝️ 

We didn't tweet enough...it's public perception overcomes manipulation...when gold hit $1000 many moons ago it was peopke flooding to sell and buy that quickly rose it to $1200, the media got involved and the god of hell himself gen beck and it went into the $1500s....when we watch and do nothing the powers that be can drop a rising market or raise a falling one, when we all flooded out at $14.50 and filled up then silver quickly went to $16....it's not them, it's us.

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2 minutes ago, DarkChameleon said:

We didn't tweet enough...it's public perception overcomes manipulation...when gold hit $1000 many moons ago it was peopke flooding to sell and buy that quickly rose it to $1200, the media got involved and the god of hell himself gen beck and it went into the $1500s....when we watch and do nothing the powers that be can drop a rising market or raise a falling one, when we all flooded out at $14.50 and filled up then silver quickly went to $16....it's not them, it's us.

Still a pretty good call. You are basically right there. Good description of the Twitter effect. The only time I quit buying is when it skyrockets. Which fortunately doesn’t happen much. So PMs have been quite good to me.

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11 minutes ago, Ablist said:

Still a pretty good call. You are basically right there. Good description of the Twitter effect. The only time I quit buying is when it skyrockets. Which fortunately doesn’t happen much. So PMs have been quite good to me.

A MOMENTARY CALL...it's dropped 25 since crossing $18 .... it takes a quick trigger finger to buy and sell, the onky problem with ownership...we can't run to the store quick enough to buy or sell, the ETFS have it...we make money on settled markets, at $14.50 to $16 I bought more then 300ozs, then sold at $17 only 40 oz's to buy gold which turned that trade into almost 300 ozs...settled is better for us, it gives us more time to agree to buy or sell.

Edited by DarkChameleon

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2 minutes ago, DarkChameleon said:

A MOMENTARY CALL...it's dropped 25 since crossing $18 .... it takes a quick trigger finger to buy and sell, the onky problem with ownership...we can't run to the store quick enough to buy or sell, the ETFS have it...we make money on settled markets, at $14.50 to $16 I bought more then 300ozs, then sold at $17 only 40 oz's to buy gold which turned that trade into almost 300 ozs.

That’s the hustle. Too intense for me ha. But I do think some people do quite well as traders. I buy bullion and Numismatics. I hold my bullion as long term savings and investment. Which one it ends up being will ultimately be decided when I sell in the future. And then I will both flip some of the numismatics and save a few for my collection/long term holds. I’ve done quite well buying and selling graded coins. And now I have so much inventory I can just basically list stuff on eBay that I know will sell and will make a profit. I only collect a few key areas and focus my knowledge on those areas. I know what a good deal for a particular coin is as opposed to a bad deal. And know I can make a profit. Of course I’ve  taken a few losses here and there but that’s part of the game. Those losses have typically been less than $100 each. On other coins though I’ve made well over $1000 in profit on sometimes a purchase that cost me as little as $50 or $60. Numismatics are much easier for me to understand and make a profit in. But that’s me as an individual, not necessarily the next person. I seem to be blessed with having a pretty good eye for what will be popular vs. a flop. As an artist I look at coins as art. Many are very unattractive or boring. Perhaps not part of a series or don’t have an interesting story or context etc. So I don’t see them going up in value.

Point being a see two types of people making money in PMs. Those that focus on a niche and have the insight, skill, time, money, discipline, focus and stomach to pursue that angle.

And hype men like Wronger. That are always at some angle on other people. Maybe selling information on PMs. Or trying to do some other type of hustle. Making extreme claims. I mean look at the drama his post has stirred up 🤣🤣 This has been quite a thread.

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18 minutes ago, Ablist said:

That’s the hustle. Too intense for me ha. But I do think some people do quite well as traders. I buy bullion and Numismatics. I hold my bullion as long term savings and investment. Which one it ends up being will ultimately be decided when I sell in the future. And then I will both flip some of the numismatics and save a few for my collection/long term holds. I’ve done quite well buying and selling graded coins. And now I have so much inventory I can just basically list stuff on eBay that I know will sell and will make a profit. I only collect a few key areas and focus my knowledge on those areas. I know what a good deal for a particular coin is as opposed to a bad deal. And know I can make a profit. Of course I’ve  taken a few losses here and there but that’s part of the game. Those losses have typically been less than $100 each. On other coins though I’ve made well over $1000 in profit on sometimes a purchase that cost me as little as $50 or $60. Numismatics are much easier for me to understand and make a profit in. But that’s me as an individual, not necessarily the next person. I seem to be blessed with having a pretty good eye for what will be popular vs. a flop. As an artist I look at coins as art. Many are very unattractive or boring. Perhaps not part of a series or don’t have an interesting story or context etc. So I don’t see them going up in value.

Point being a see two types of people making money in PMs. Those that focus on a niche and have the insight, skill, time, money, discipline, focus and stomach to pursue that angle.

And hype men like Wronger. That are always at some angle on other people. Maybe selling information on PMs. Or trying to do some other type of hustle. Making extreme claims. I mean look at the drama his post has stirred up 🤣🤣 This has been quite a thread.

There's always people ready to explain thing based on historical or indeed hysterical data,better to study human emotion then the market, once upon a time Manchester United was bought so I stead of buying Manchester United shares I bought newcastle united shares, they went from I think 68 to 96 in three days....cause and effect, when the markets drop or investors in it start to worry pm's go higher, I knew the market woukd drop based on greed and the fact we are wellpassedourti e for acorrection, house prices are very high, so high even 3% mortgage rates aren't driving people to the banks because they are sure 3% of a property that will soon drop 20% or more isn't worth it and not having a once secure job is going to drive them insane with worry....it's all down to greed, fear and reactions.

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1 hour ago, DarkChameleon said:

A MOMENTARY CALL...it's dropped 25 since crossing $18 .... it takes a quick trigger finger to buy and sell, the onky problem with ownership...we can't run to the store quick enough to buy or sell, the ETFS have it...we make money on settled markets, at $14.50 to $16 I bought more then 300ozs, then sold at $17 only 40 oz's to buy gold which turned that trade into almost 300 ozs...settled is better for us, it gives us more time to agree to buy or sell.

Please go a little deeper in your explanation here. So you ended up with 300 Oz of silver + gold? I’ve always been intrigued by trading but it’s not my forte. I’m smart or dumb enough, depending on how to you look at it to stick to what I am good at.

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9 minutes ago, Ablist said:

Please go a little deeper in your explanation here. So you ended up with 300 Oz of silver + gold? I’ve always been intrigued by trading but it’s not my forte. I’m smart or dumb enough, depending on how to you look at it to stick to what I am good at.

First I should have said 80oz, it was two deals which I paid for with four tubes of eagles, I first cashed  in two tubes to buy a bracelet, it was 40g of 18k gold with some VVS quality diamonds, that I had consigned for $2000, the next deal I cashed two tubes in to buy a ring that had more VVS diamonds and was designed by mark patterson, I had that consigned for $3000, those numbers were net so I net $5000 for 80oz of eagles, which is 300ozs of generics, or under for eagles....I have been buying jewelry for a while and presently gave over $12,000 on consignment as net, so I get $12 000 and the shops get whatever they sell them for over and above, thankfully I live in an a fluent area so buyers are not a problem during snowbird season.

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So you got just under 1.3 Oz of gold with diamonds for 2 tubes of eagles? Nice man that is the hustle for sure! Good job!

Im very intrigued. I’ve thought about opening a pawn shop for some time now. Have you been able to find better value in gold jewelry as opposed to bullion? 
 

Do you use one of those electronic scanners to make the gold and/or diamonds are real?

Edited by Ablist
Typos fixed and additional question

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I’m all about collecting interest. I buy parcels of land at auction and then finance them at high interest to people who couldn’t buy property otherwise. As in don’t have the credit. If they default on their payments I foreclose on them after 90 days. Keep all of their payments and Re-sell the property: since I don’t make them qualify with credit, I have them do a cash down payment and small monthly payments of typically 100-500 a month: but once you have 40 or 50 properties you can see how this ads up. + more than 50% foreclose and I always make sure the down payment is twice what I paid for the property at auction. So I’m immediately in the profit regardless.

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10 minutes ago, Ablist said:

So you got just under 1.3 Oz of gold with diamonds for 2 tubes of eagles? Nice man that is the hustle for sure! Good job!

Im very intrigued. I’ve thought about opening a pawn shop for some time now. Have you been able to find better value in gold jewelry as opposed to bullion?

Definatly, people panic or they bought jewelry throughout their lives as a safety net then panic when times get tough, then I buy...when peopke get frightened get greedy, buffet said that....I only sell silver when I need money quick for a deal, it was a good deal and I was on a 10% Ebay bucks and my cc was on a 1.5% cash back so I jumped at it...I also had to consign quickly because items gave to be recorded and reported and held for one month before selling so you have to lump up with snow season before no member so they can be sold over christmas, new year and prime snowbird season.

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9 minutes ago, Ablist said:

I’m all about collecting interest. I buy parcels of land at auction and then finance them at high interest to people who couldn’t buy property otherwise. As in don’t have the credit. If they default on their payments I foreclose on them after 90 days. Keep all of their payments and Re-sell the property: since I don’t make them qualify with credit, I have them do a cash down payment and small monthly payments of typically 100-500 a month: but once you have 40 or 50 properties you can see how this ads up. + more than 50% foreclose and I always make sure the down payment is twice what I paid for the property at auction. So I’m immediately in the profit regardless.

I have considered that in england, my home country...I can buy land from my relatives who own chunks of county durham for low cost in cash then get BP and sell for a lot more, it's cheaper and easier when you have cash but I have owned property in NH and got rid as it's hard to run,property from the other side of the country.

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2 minutes ago, DarkChameleon said:

Definatly, people panic or they bought jewelry throughout their lives as a safety net then panic when times get tough, then I buy...when peopke get frightened get greedy, buffet said that....I only sell silver when I need money quick for a deal, it was a good deal and I was on a 10% Ebay bucks and my cc was on a 1.5% cash back so I jumped at it...I also had to consign quickly because items gave to be recorded and reported and held for one month before selling so you have to lump up with snow season before no member so they can be sold over christmas, new year and prime snowbird season.

That’s legit. I hope members are reading this. These are the kind of ways you make real money in PMs. Me and this guy Dark Chameleon are giving you real advice. Wrongers thread is starting to fruit.

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The skill is to know what gold value is, that you gave a guarenteed buyer, my lcs is a good friend so knows I'll consign smaller stuff through them, and then pull the trigger right away, I buy within seconds of getting a deal, then just sell the silver to replenish my cc, never load up on debt, that kills your profit...my cc often gas a surplus, sometimes over $10k, so I don't have to beg for an increase in my limit..lol.

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Kimchi. I know have an aggressive stance on not paying interest and collecting interest. These are hard facts of life. And yes I will agree they are sad, difficult, perhaps even ugly. 
 

But there is a reason that many people are poor. This is just a very honest conversation at this point. 
 

I’m trying to get rich, not poor. It’s not my fault if people don’t know how to manage there money. Simultaneously it’s why I am trying to post quality information on forums like this. 
 

The approximately 50% of my land customers that do keep their properties and pay them off. Tell me they are grateful because I was the only one that would give them a chance and I made it easy for them to purchase. No qualifying, no background checks, no $20k down payment, no hard or long terms. My payments average probably around $300 a month which makes it realistic and affordable for anyone. Terms are for 7 years at most. Usually 3-5 years. No amortization or complex math or penalties. I’ve let people come to some of my properties to work off payments if they fell short. I’m fair and I’m honest. I give the small guy a chance and YES I also profit from it. No shame in my game.

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8 minutes ago, Ablist said:

Kimchi. I know have an aggressive stance on not paying interest and collecting interest. These are hard facts of life. And yes I will agree they are sad, difficult, perhaps even ugly. 
 

But there is a reason that many people are poor. This is just a very honest conversation at this point. 
 

I’m trying to get rich, not poor. It’s not my fault if people don’t know how to manage there money. Simultaneously it’s why I am trying to post quality information on forums like this. 
 

The approximately 50% of my land customers that do keep their properties and pay them off. Tell me they are grateful because I was the only one that would give them a chance and I made it easy for them to purchase. No qualifying, no background checks, no $20k down payment, no hard or long terms. My payments average probably around $300 a month which makes it realistic and affordable for anyone. Terms are for 7 years at most. Usually 3-5 years. No amortization or complex math or penalties. I’ve let people come to some of my properties to work off payments if they fell short. I’m fair and I’m honest. I give the small guy a chance and YES I also profit from it. No shame in my game.

It does help both of you,I have had renters work off debt...well I knew they weRe looking at hard times so I'd give them jobs to do for less then I'd pay contractors for lime paint an appartment, they got the months free rent, I got a few thousand dollars worth of work and didn't gave to kick them out and have an unsecure property over a hard rent time, and offset their cost through the company....sometimes it does help me and them...I think I learnt from my dad who woukd fence off land next to him, then maintain it for 12 years and then claim it...tripled the size of his land by doing that..lol.

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Exactly. There is nothing wrong with increasing your holdings through patience and hard work. The investor or business owner also has costs. Those who are harder working, more disciplined and hungry tend to have more than those that are complacent and blow there money on trivial things. Me personally I’ve built everything I have from scratch. No silver spoons for me. So I don’t have the patience for people’s nonsense. 

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5 minutes ago, Ablist said:

Exactly. There is nothing wrong with increasing your holdings through patience and hard work. The investor or business owner also has costs. Those who are harder working, more disciplined and hungry tend to have more than those that are complacent and blow there money on trivial things. Me personally I’ve built everything I have from scratch. No silver spoons for me. So I don’t have the patience for people’s nonsense. 

Same here, built my own.

I onky sell my silver stash, never a single coin from my collection, bought my house cash, ordered it built furthest time out, major savings, choice of plot, community ranked 6th in the states, no mortgage, no car payments, rent a house once a year for the whole family, all chip in, save money and get sweet house by the beach, don't own a business so no bills, my greatest deals are out bidding dealers for junk gold, I don't have overheads so can sit on a 20% profit which they need 50% to cover their overheads...I weight in junk at 70, 80, 90 or 100g at a time...the sellers don't care if it's only a couple of grams, the dealers don't want to waste their time over small piles and I can spend a few days on ebay bucks loading up then wait for the post, test everything, weight everything, even get refunds if their weights are off, send back if it's a con, call my gold guy and have the junk smelter in 24 hours with cash paid,  cut off and hold onto clasps and gems as they are free or worth more keeping, imagine how much it costs to get a new clasp put on a,piece of jewelry, now imagine the 5 minutes of soldering on a new clasp that cost the $1 as it came in with junk, saving $20- $30 or better still, taking a piece you bought as junk because they isn't want to spend $20-$30 on a new clasp and putting it on yourself then consigning it so went from $60 of scrap weight to $120 consign net....all for just having the cash or stash at hand

 

NEVER THINK LITERALLY, THINK LATERALLY !!!!!

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And happy new year every one! ☝️ Sky tis not the limit, it’s just the beginning. Neither is the universe, there’s a deeper story to be told. Onward and upward for the 20/20z. Much love.

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4 hours ago, Ablist said:

“ 

NEVER THINK LITERALLY, THINK LATERALLY !!!!!


 

more commentary please

People think that something is profitab,e by how much more it will sell for...as the son of a junk yard owner I can tell you that the people who sold us their junk cars thought they were worth their weight in cash, we knew they were worth their weight in spare parts, in reusable tires, in drainable gas, in aluminum smelt able transmissions, etc....the sellers thing literal, to make maximum profit is to think lateral, not what is something worth, but what is there that can be even more profitable.

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17 hours ago, DarkChameleon said:

People think that something is profitab,e by how much more it will sell for...as the son of a junk yard owner I can tell you that the people who sold us their junk cars thought they were worth their weight in cash, we knew they were worth their weight in spare parts, in reusable tires, in drainable gas, in aluminum smelt able transmissions, etc....the sellers thing literal, to make maximum profit is to think lateral, not what is something worth, but what is there that can be even more profitable.

This is where subtle understanding and nuance becomes important. Well described and said my friend.

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On 31/12/2019 at 10:13, DarkChameleon said:

Same here, built my own.

I onky sell my silver stash, never a single coin from my collection, bought my house cash, ordered it built furthest time out, major savings, choice of plot, community ranked 6th in the states, no mortgage, no car payments, rent a house once a year for the whole family, all chip in, save money and get sweet house by the beach, don't own a business so no bills, my greatest deals are out bidding dealers for junk gold, I don't have overheads so can sit on a 20% profit which they need 50% to cover their overheads...I weight in junk at 70, 80, 90 or 100g at a time...the sellers don't care if it's only a couple of grams, the dealers don't want to waste their time over small piles and I can spend a few days on ebay bucks loading up then wait for the post, test everything, weight everything, even get refunds if their weights are off, send back if it's a con, call my gold guy and have the junk smelter in 24 hours with cash paid,  cut off and hold onto clasps and gems as they are free or worth more keeping, imagine how much it costs to get a new clasp put on a,piece of jewelry, now imagine the 5 minutes of soldering on a new clasp that cost the $1 as it came in with junk, saving $20- $30 or better still, taking a piece you bought as junk because they isn't want to spend $20-$30 on a new clasp and putting it on yourself then consigning it so went from $60 of scrap weight to $120 consign net....all for just having the cash or stash at hand

 

NEVER THINK LITERALLY, THINK LATERALLY !!!!!

 

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Posted (edited)

We are getting so some bullet points people. 
 

“all for just having the cash or stash at hand”

this reinforces what I am saying about hypertension like Wronger. All hype, all drama. No real assets or a pot to piss in. Think longer, think harder. Be more conservative and understand what real interest and profit actually are.

Actually I should say both. Be more conservative in paying interest and more aggressive in collecting interest and profit. 

Edited by Ablist
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