Does the recent price dip confirm....

[HawkHybrid]

23 minutes ago, sixgun said:

BIS would not run a multi-billion dollar book in silver.

 

that's cos despite being one tenth the size of the

gold market, silver is still a multi $billion market. 

(1 billion toz multiplied by ~ $17/toz)

it doesn't make it important.

I get the same 1 vote as the richest/most powerful

people in the country. it doesn't make me as

influential/important as them.

 

HH

[sixgun]

2 minutes ago, HawkHybrid said:

I get the same vote as the richest/most powerful people in the country. it doesn't make me as influential/important as them.

HH

'If Voting Made a Difference, They Wouldn't Let Us Do It'

[HawkHybrid]

3 minutes ago, sixgun said:

'If Voting Made a Difference, They Wouldn't Let Us Do It'

 

if having a multi $billion book value in the bis was

important then it wouldn't happen.

(why would those who are anti-silver allow for it

to stand any chance of fighting back?)

 

it's the same argument, I have my 1 vote because

the law says it's so. the bis has multi billion book

value on silver because the law says it's so.

 

HH

[sixgun]

The BIS is not known for being a silver bull. It is part of the reason silver languishes. 
i have put my thesis out there - i am sure you will remind me if it turns out wrong - and i will remind you when it isn't.
Cheers.

[Martlet]

Funny though that BIS don't mention gold or silver in their foreign exchange market report. 

[HawkHybrid]

I don't get how having a multi $billion account is

strange for a multi $billion market? someone

correct me but isn't that what they are supposed

to do?

 

HH

[Realwealthuprising]

On 29/02/2020 at 11:57, ChrisF said:

Does the recent price dip confirm silver is no longer a PM but an industrial metal?  Despite gold rising to record highs during the coronavirus silver has tanked losing around 10% of its value in less that 7 days.  Productivity is dropping around the world, is this causing less need for silver hence the price drop?  In the future will silver prices be more closely linked to stocks, shares and commodity prices jumping on their rollercoaster rather than that of gold?

Looking at past recessions as shown on the chart silver nearly always declines in value during a sell off.

I think silver will always the risky junior to gold and works as a commodity for the most part. It is a changeling though because in a gold bull market particularly when everyone is scared after a big crisis and rushing into what they see as safety assets it’s close relationship historically to gold is not forgotten and eventually people buy it.

At that point it refinds it’s role temporarily as a significant safe play asset before usually dying again. That’s why as a buy and hold over the long term silver is terrible compared to gold, its not really the same type of asset anymore it just can become it, temporarily at least, after a crisis. Maybe it will change but for me I think hedge with history and go mainly with gold, but always a little silver for excitement.
 

[HawkHybrid]

9 minutes ago, Realwealthuprising said:

silver nearly always behaves this way historically during a sell off and is not necessarily behaving differently to past. The chart below show previous crashes and how silver and gold behaved during those periods. I think silver is always the risky junior to gold and works as a commodity for the most part. It is a changeling though because in a gold bull market particularly when everyone is scared after a big crisis and people run to safety it’s close relationship historically to gold is not forgotten. Especially as people get out priced from gold and spill over into silver and at that  point it refinds it’s role temporarily as a significant safe play asset.

 

does that chart say (of the declines mentioned)

silver has always performed worse than gold?

ie so far holders of gold have been more

protected in those market declines?

 

HH

[Seth]

1 hour ago, HawkHybrid said:

it's only gold versus currency.

silver has nothing to do with this.

people link silver into this in order to sell it.

(people often forget copper used to be money,

cartwheel?)

 

HH

Not only copper, but stones used to ne used as currency - disc shaped stones with hole in their centre I actually think they still might be used as currency in some places, livestock - again I believe this is still being used as a currency in certain areas of the middle east among certain tribes, and belive it or not cowry shells are actually still being used as a currency in more than one country - making me he richest person in these countries thanks to my collection of giant clam, and nautilus shells

[goldking]

Does anyone know where I can buy stones at spot price?  I've checked the gold to stone ratio from 12,000 years ago and stones are extremely undervalued so clearly now is a good time to buy.

[Seth]

6 minutes ago, goldking said:

Does anyone know where I can buy stones at spot price?  I've checked the gold to stone ratio from 12,000 years ago and stones are extremely undervalued so clearly now is a good time to buy.

Laugh all you want but Rai Stones as they are known are actually still used as currency in some of the Micronesian islands, especially Palau and Yap.  If you look at the size of the buggers you can understand why the idea has never gained much traction outside of Micronesia, it takes a family of 4 just to lift one, or 2 people just to roll them.  Rai Stones.

[Darr3nG]

3 minutes ago, Seth said:

Rai Stones as they are known are actually still used as currency in some of the Micronesian islands, especially Palau and Yap.

And for just a snip under £11k, an absolute bargain  [https://www.greatcollections.com/Coin/189804/Yap-Rai-Stone--Rare-Museum-Piece]

[Notafront4adragon]

19 minutes ago, goldking said:

Does anyone know where I can buy stones at spot price?  I've checked the gold to stone ratio from 12,000 years ago and stones are extremely undervalued so clearly now is a good time to buy.

Wickes

I'm stacking myrrh, it's only a matter of time before it makes a comeback 

[Seth]

6 minutes ago, Darr3nG said:

And for just a snip under £11k, an absolute bargain  [https://www.greatcollections.com/Coin/189804/Yap-Rai-Stone--Rare-Museum-Piece]

Unless it's slabbed and graded by NGC as MS69, I'm not interested, besides, that's a small example of the currency, they average 3.6 meters - that's 36000mm, in diameter.

[Seth]

1 hour ago, Notafront4adragon said:

Wickes

I'm stacking myrrh, it's only a matter of time before it makes a comeback 

That might not only make you the richest person in the world someday, but also potentially the best armed person in the world:

"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones." - Albert Einstein

Though don't forget, and I think all silver stackers should get this tattoed on them, especially somewhere that they will see it all the time, like backwards on their foreheads:

“Insanity is doing the same thing over and over and expecting different results.”  - Albert Einstein

[Foe]

1 hour ago, goldking said:

Does anyone know where I can buy stones at spot price?  I've checked the gold to stone ratio from 12,000 years ago and stones are extremely undervalued so clearly now is a good time to buy.

Laugh all you want, but I remember in a company I used to work with we paid about 2k€ a month for sharpening stones from certain river in US (Kansas?) to sharpen our press knives. It was a small boxes and those things dissapeared in front of your eyes when you watched those (messerschleifer) guys at work. But nothing else can take on the hardened steel and make it so fine. 🙂

[goldking]

I think some people here struggle with sarcasm.

[Seth]

10 minutes ago, Foe said:

Laugh all you want, but I remember in a company I used to work with we paid about 2k€ a month for sharpening stones from certain river in US (Kansas?) to sharpen our press knives. It was a small boxes and those things dissapeared in front of your eyes when you watched those (messerschleifer) guys at work. But nothing else can take on the hardened steel and make it so fine. 🙂

So out of curiosity how many do you have stashed away?

[Foe]

1 minute ago, Seth said:

So out of curiosity how many do you have stashed away?

I know what you're saying and I know the previous post was sarcastic, but just wanted to point out that everything has it's value for certain people. All of you arguing about gold and silver is irrelevant. As long as somebody wants certain thing  and willing to pay for it in (whatever you need) in economy collapse scenario it doesn't matter what you hold, people can trade you can of beans for a bike or an ounce of silver, but will somebody want that ounce of silver/ gold for a can of beans? Point was only to say that stone in a river for somebody is worth more than an ounce of gold to keep them running and make something that they will later trade for something else. Sorry for beign slightly offtopic, but people talking here about complete reset and about salt beign worth more than gold back in xxxx years back. Didn't want to offend anyone 🙂 Also I have abit of Haig in me.

[sovereignsteve]

3 hours ago, Darr3nG said:

I couldn't get no silver, I couldn't get no gold...
To keep you from the gallows pole

It's good to see some on here have taste😊

[Seth]

2 minutes ago, sovereignsteve said:

It's good to see some on here have taste😊

 

But does he know the song's original name and who wrote it, I'll even give you two clues, it wasn't Led Zepplin, nor was it Leadbelly, the song predates both of them by over 500 years.

[sovereignsteve]

3 hours ago, sixgun said:

Can anyone answer why the Bank for International Settlements deals in XAG (silver currency) and there is the XAG at all?

Simply trading instruments, also spread betting and cfd. Traders want to trade therefore the means to do so will be provided. The two have always been linked and the habit is hard to kick.

Silver is clearly still money but it's importance is diminishing. It has been and continues to be a slow process but it's happening.

[Darr3nG]

8 minutes ago, Seth said:

the song predates both of them by over 500 years.

The real question must be, what was the gold to stone (rock?) ratio when the original was in the charts? 

[sovereignsteve]

4 minutes ago, Seth said:

 

But does he know the song's original name and who wrote it, I'll even give you two clues, it wasn't Led Zepplin, nor was it Leadbelly, the song predates both of them by over 500 years.

A lot of Zepp's early stuff especially was borrowed, the origin of some was indeed lost in the mists of time.

but in this case 500 years? I thought it was from a poem by F J Child. did he steal it too?

[Seth]

1 minute ago, sovereignsteve said:

A lot of Zepp's early stuff especially was borrowed, the origin of some was indeed lost in the mists of time.

but in this case 500 years? I thought it was from a poem by F J Child. did he steal it too?

Yeh he stole it too, though stole is perhaps a bit too strong in his case, it's a very old English folk song, he was credited with being the first person to write down the lyrics, if anybody from the 14h century heard either Leadbelly's or Led Zepplin's version, they would not only know the song, but be able to sing along to it.