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Wonger

Silver price about to plummet

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Posted (edited)

One final thought. 
¬†Some¬†parts of liberalism have moved things forward. Some parts of conservatism has moved things forward. Both have also caused damage. Regardless of your ideals, religious beliefs¬†and how you think things ‚Äúshould be‚ÄĚ, think locally. Your immediate friends family and neighbors, those that are physically immediately close will end up being your best assets and also weaknesses. No one knows where this¬†is going.¬†Things are uncertain globally for the first time unless a previous vanished civilization experienced their own apocalypse. Focus on keeping yourselves healthy.
 

Shells, Water, Seeds, Neighbors. 

Edited by Ablist

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8 minutes ago, Ablist said:

One final thought. 
¬†Some¬†parts of liberalism have moved things forward. Some parts of conservatism has moved things forward. Both have also caused damage. Regardless of your ideals, religious beliefs¬†and how you think things ‚Äúshould be‚ÄĚ, think locally. Your immediate friends family and neighbors, those that are physically immediately close will end up being your best assets and also weaknesses. No one knows where this¬†is going.¬†Things are uncertain globally for the first time unless a previous vanished civilization experienced their own apocalypse. Focus on keeping yourselves healthy.
 

Shells, Water, Seeds, Neighbors. 

Technology is key imo. No ideology will get us into the universe. 


"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. But if you want to continue as the slaves of bankers and pay the cost of your own slavery, let them continue to create money and to control credit."

Sir Josiah Stamp, Director of the Bank of England

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@Ablist Your right, the best asset always was YOURSELF

Keep yourself physically healthy and don't neglect your mental health

My fledgling YouTube channel has kept me "sane" for the last 5 months - My work situation never recovered from my job being outsourced to India

The drop in silver price was a big kick to the bollocks though; just once in my life it would have nice to be on the winning side!

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Silver will do well very over the long term it will be three figures an ounce by the end of the decade. In the short term Wonga will finally be proven right and everything will plummet, unless central banks do enough over the next 12 months.

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@KDave I'd be happy with £30 an oz

How much more QE can the central banks do? The system is based on debt.

In 2008 I was told about 90% of the "money" supply is debt, it must be 99% now

I'm not that religious, but even Jesus flipped (not coin) his mind when dealing with the money men of his time!

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They will print as much as they need to balance the deflationary effects acting on the economy. The fiat system can not survive deflation, prices must keep rising or the debt will overwhelm the economy, if they do not print enough we will see systemic collapse as was happening in 2008 prior to the bailout.

They will eventually print enough to stoke inflation but the direct nature this time around will not be controlled; they are giving it directly to people and businesses as it is the only means to generate/maintain inflation quickly enough. Once this is achieved over the next year or two, the consumer cycle will be done and we move into the next cycle.

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@KDave Your obviously a smart guy, but this fiat / fractional reserve system, wouldn't it be a disaster for the ordinary guy on the street?

Most people I know, 2 days into the lockdown we're mentally defeated; most people don't have any savings, let alone any PMs

I know 2 guys that tried to top themselves by day 5.

I worry about the mental state of the people in the UK and the "the buy now, pay later" culture which is the norm now.

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37 minutes ago, TechSilver said:

In 2008 I was told about 90% of the "money" supply is debt, it must be 99% now

it should still be around 90%. fractional reserve banking

doesn't work like that. you can only increase currency

against a reserve. you will always need the 10% reserve.

(or whatever the reserve % is)

18 minutes ago, TechSilver said:

I think it's absolutely bonkers!  Creating "money" out of thin air.

money can never be created out of thin air.

currency can be created out of thin air as it's purpose is to

circulate and facilitate trade. currency is not money. we as

the nations citizens give currency a temporary money status

as we accept it as payment for real world goods and services.

 

within the currency system that we currently use, additional

currency must be 'printed' to help the currency circulate.

there is currently insufficient currency to circulate properly

(hence people chasing currency, deflation).

 

HH


trade in currency, save in gold

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Yes true, but it is the same as the gold standard was a disaster for the ordinary guy during a gold run. If one didn't understand that banks were lending out a persons gold savings within reserve a requirement, who's fault is it when his savings evaporate during a run? Is it the systems fault that he didn't understand the risk? I am not sure.

The lockdown is only economic in nature if you apply the adage - the market will hurt as many people as possible. If this is the cycle turning, which I think it is, this tends to be what happens. It is mass suffering so that things can change. It is a brutal thing, much like nature is brutal.

 

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One of the biggest advantages under a fiat system is that money and currency are separate. That hardly anyone understands this is not the fault of the system. 

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@KDave You sound pragmatic "It is mass suffering so that things can change. It is a brutal thing, much like nature is brutal. "

What will the world look like after Covid 19? I don't think we will go back to service as usual.

Surely manufacturing will move back from China to the west, not all, but esstential services like medicine manufacturing

Will China ever answer or pay for the cover-up of the C19 virus?

etc.

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1 minute ago, TechSilver said:

 

Surely manufacturing will move back from China to the west, not all, but esstential services like medicine manufacturing

This is exactly what to expect. The next cycle will be industrial based, likely it will be driven by government infrastructure spending as a means to inflate the debt introduced over the deflationary period.

Silver will do well because it is primarily an industrial metal with monetary properties - inflation and industry will make it one of the best performing assets. 

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@sixgun I thought I was the only silver foil hat wearing guy out there that thought:

"Jeffrey Epstein didn't kill himself. COVID-19 is a cover story for collapsing the economy."

Of course, you've got a pirate hat instead my silver hat

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1 hour ago, TechSilver said:

Of course, you've got a pirate hat instead my silver hat

My pirate hat is made with EMF protection material - so it is a silver based thread material - it is a modern 'tin foil' hat with a classic twist.


Jeffrey Epstein didn't kill himself. COVID-19 is a cover story for collapsing the economy. 

GLD / SLV Are Frauds - If You Want Gold And Silver Buy Physical

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A guy walks into a bakery and says to the baker: ‚ÄúHey how come your bread is 70 kopecks, the baker down the street is selling his bread for 50 kopecks?‚ÄĚ

The baker says to him: ‚ÄúWell why don‚Äôt buy your bread there?‚ÄĚ

The guys says: ‚ÄúHe doesn‚Äôt have any bread to sell.‚ÄĚ

The baker says: ‚ÄúWell when I don‚Äôt have any bread to sell I sell it for 50 kopecks too.‚ÄĚ


It’s fun to have fun.

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Silver plummeting again - it will be $4 quite soon i'm sure.


Jeffrey Epstein didn't kill himself. COVID-19 is a cover story for collapsing the economy. 

GLD / SLV Are Frauds - If You Want Gold And Silver Buy Physical

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This chart must be very bearish - couldn't be a breakout - silver going to $4.

Image


Jeffrey Epstein didn't kill himself. COVID-19 is a cover story for collapsing the economy. 

GLD / SLV Are Frauds - If You Want Gold And Silver Buy Physical

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