Silver price about to plummet

[LawrenceChard]

12 hours ago, DarkChameleon said:

I just got accussed of saying your onw of those people but if you were say selling high premium coins that you were not sure you could even get the coins that would be deception...im not saying you do that but some do...limited mintage coins and then get lots of purchasesthen find they ca t get them and what?, return the money which is eesence stops the collector from going out on theirmown tobuy them while they can...like say a promise toget the 2019 reverse proof eagle when they were going for one per person...some have done that with items and a buy of kilos wont make good on that ability taken away, or if a coin then jumps like the example did and sales were made for say $300 and then the coin quickly jumps to 1200 and the supplier retirns the money saying stock wasnot available then weekslater is selling coibsfor $1400 that were promised.

I get the strong impression that there are lots of dodgy dealers in the U.S.A. Sure, there are also many good ones too.

Quite a few high profile American dealers have questionable ethics in my opinion, and seem to be bonus or commission driven, hence customers are alwasy dealing with a salesman, usually euphemistically titled an Account Manager, or similar. It pays to be slightly cynical or cautious. It's also a good reason why site like TSF serve a valuable purpose. Although there are some oddball comments, common sense tends to rule. The shared experiences here are far more trustworthy and credible than any 100% positive feedback on ebay, and review sites get manipulated and abused.

There are also U.K. dealers I consider dodgy, along with about half the people selling on ebay, and to an extent, Amazon.

Sorry to hear you got "accused"

Stay safe y'all in Florida!

[LawrenceChard]

12 hours ago, DarkChameleon said:

Isnt that what etfs are for?

WTF is an etf? (only joking!)

I think ETFs have an important place and function, although I do hear and read cautions about them.

You can understand why many people believe it is important to own physical, whether they store it themselves where they can touch and feel it, or use third party storage for security (although this does require trust in the storage provider).

[LawrenceChard]

12 hours ago, DarkChameleon said:

Like hookers....for your rugby team

For some reason I used to play hooker at school, or at least I think that's what they were calling me.

[HawkHybrid]

33 minutes ago, LawrenceChard said:

WTF is an etf? (only joking!)

I think ETFs have an important place and function, although I do hear and read cautions about them.

You can understand why many people believe it is important to own physical, whether they store it themselves where they can touch and feel it, or use third party storage for security (although this does require trust in the storage provider).

 

there is a lot of negative sentiment towards etf's, especially from some bullion/coins dealers

(I'm not saying those from my favourite coins shops including chards). to me, it's silly really.

those who plan to trade(actively) the metals should always choose a suitable platform(maybe

an etf). no trader in their right mind would trade in physical metals. with the overhead costs

including delivery and vat(for silver) the spread to trade is simply too big. trading physical silver

means you are paying sizeable taxes(vat) on your entire trade before you even turn a profit.

those who believe that traders will turn to physical delivery of metals if things like etf's are not

available are just kidding themselves. traders trade on margin and spread. the underlying asset

is not important.

 

those who have their metals in an etf don't have this to deal with:

https://www.thesilverforum.com/topic/35709-fu-royal-mail/

 

HH

[LawrenceChard]

59 minutes ago, HawkHybrid said:

 

trading physical silver

means you are paying sizeable taxes(vat) on your entire trade before you even turn a profit.

those who believe that traders will turn to physical delivery of metals if things like etf's are not

available are just kidding themselves. traders trade on margin and spread. the underlying asset

is not important.

 

those who have their metals in an etf don't have this to deal with:

https://www.thesilverforum.com/topic/35709-fu-royal-mail/

 

HH

That's why I said it would be good to have zero rated "Investment Silver", and other P.M.s; because the stated aims of VAT exclude taxing investments.

Most small dealers on trading platforms loose money, which is partly why they have to display prominent disclosures and warnings.

We know only too well the problems of transporting / sending coins and P.M.s in large and small amounts.

To be fair to Royal Mail, they also are affected by COVID-19 diffiiculties, and they do state that there Special Delivery Service is subject to abnormal delays, but by and large, they appear to have been coping quite well, and the service has been generally good during the lockdown period.

That's more than I could say for Fedex even in normal times.

[Roy]

4 minutes ago, LawrenceChard said:

Most small dealers on trading platforms loose money,

 

4 minutes ago, LawrenceChard said:

they do state that there Special Delivery Service

Tut.

[LawrenceChard]

1 hour ago, Roy said:

 

Tut.

Well spotted.

It's usually me being pedantic - THEIR

There, there, I won't make that error again...

... for at least 10 minutes!

I must be loosing correction losing it.

I blame my dyslexic fingers.

I have sex daily!

[LawrenceChard]

2 minutes ago, LawrenceChard said:

I have sex daily!

Sorry, that should have read dyslexia!

[dicker]

@LawrenceChardIs quite right about people losing on trading platforms (esp. CFDs.)

Log into any European broker and they tell you '77% of our clients lose money trading CFD's etc' Or words similar.

Best

Dicker

[HawkHybrid]

17 minutes ago, dicker said:

@LawrenceChardIs quite right about people losing on trading platforms (esp. CFDs.)

Log into any European broker and they tell you '77% of our clients lose money trading CFD's etc' Or words similar.

Best

Dicker

 

many/most of those losing are gamblers, not traders. it takes discipline, time and effort to

become a trader(just like any other profession).

 

HH

[sovereignsteve]

4 hours ago, LawrenceChard said:

Although there are some oddball comments, common sense tends to rule

I love this; sums up TSF in a nutshell. Although I might substitute "members" for "comments".😄

[LawrenceChard]

1 hour ago, HawkHybrid said:

 

many/most of those losing are gamblers, not traders. it takes discipline, time and effort to

become a trader(just like any other profession).

 

HH

99% of "traders" / gamblers will tell you they are on a profit long tem!

Definition of gambler: trader who has made a loss.

Definition of trader: gambler who is still winning.

(just having a little fun)

I do agree with your comments about discipline, time and effort, though.

[DarkChameleon]

5 hours ago, LawrenceChard said:

For some reason I used to play hooker at school, or at least I think that's what they were calling me.

I played rugby once then they stopped it for being too rough...but murderball was fine, go figure..but i lived in barnard castle for almost 20 years and they have a history of producing great rugby players, specially on the national team.

[HawkHybrid]

1 hour ago, LawrenceChard said:

99% of "traders" / gamblers will tell you they are on a profit long tem!

Definition of gambler: trader who has made a loss.

Definition of trader: gambler who is still winning.

(just having a little fun)

I do agree with your comments about discipline, time and effort, though.

 

a trader has a setup that is mathematically probable to win more than it loses.

eg betting red or black on the next card is gambling(50/50). how ever betting that

the next card cannot be used in a royal flush(10 to ace) is trading (61.5% chance of

winning). traders can get unlucky and go on losing streaks, but it's about setup and

not about whether or not you are lucky/unlucky.

 

HH

[LawrenceChard]

30 minutes ago, HawkHybrid said:

 

a trader has a setup that is mathematically probable to win more than it loses.

eg betting red or black on the next card is gambling(50/50). how ever betting that

the next card cannot be used in a royal flush(10 to ace) is trading (66% chance of

winning). traders can can get unlucky and go on losing streaks, but it's about setup

and not about whether or not you are lucky/unlucky.

 

HH

I agree, apart from the can-can!

[DarkChameleon]

5 hours ago, HawkHybrid said:

 

a trader has a setup that is mathematically probable to win more than it loses.

eg betting red or black on the next card is gambling(50/50). how ever betting that

the next card cannot be used in a royal flush(10 to ace) is trading (61.5% chance of

winning). traders can get unlucky and go on losing streaks, but it's about setup and

not about whether or not you are lucky/unlucky.

 

HH

There speaketh at rue gambler.

[SilverGameOfThrones]

THE SILVER KRAKEN WAS RELEASED !!!

🚀🚀🚀🚀🚀🚀🚀

https://www.youtube.com/watch?v=mqb-lSOF1hAs

🚀🚀🚀🚀🚀🚀🚀

[sixgun]

i thought gold and silver were going down the toilet as the USD soared in value.

U.S. DOLLAR NET SHORT BETS SURGE TO LARGEST SINCE AUGUST 2011 - CFTC

https://money.usnews.com/investing/news/articles/2020-07-31/us-dollar-net-shorts-surge-to-highest-in-nine-years-cftc-reuters

[vand]

Silver is now up by 66% since Wronger started this thread.

Which doesn't necessarily mean that he was was wrong or didn't make money in any short term pullbacks that might have unfolded.... but rather just it shows you the value of tuning out the inconsequential daily chatter and keeping the BIG PICTURE firmly in mind. 

The big picture doesn't care about short term pullbacks. The big picture see the full duration of a mindblowing bull market.

If you want to keep the BIG PICTURE firmly in mind I wil periodically be bumping my thread to remind people that now is not the time to be selling:

 

[Pete]

[HerefordBullyun]

8 minutes ago, Pete said:

If you turn that chart upside down then it's definitely plummeted. 

[HerefordBullyun]

Silver at 21 an oz coinsters 🚀

[Stuntman]

This remains utterly hilarious.  My silver ETF is up over 75% now (first investment in 2018), thanks Wonger!

[DarkChameleon]

2 hours ago, Stuntman said:

This remains utterly hilarious.  My silver ETF is up over 75% now (first investment in 2018), thanks Wonger!

You mean you didnt buy at $12 equiv?, youd be up 135%

[Stuntman]

My first silver ETF investment was when the spot price was about £10.90 and subsequent investments have been at prices between about £11.20 and £13.50.  Haven't bought silver since March though, so have been missing out on a bit more opportunity over the last few months 😀