Silver Monitoring Thread £ (GBP) only.

[silvernewbie]

13 minutes ago, MancunianStacker said:

Yup, 2nd hand Asian gold can be found a little cheaper. 

Im not talking about second hand but retail prices where u pay almost 80% markup in some uk asian Jewellers.  In the uk there is not much of a 2nd hand market for asian jeweller., unless you have friends selling

[watchesandwhisky]

52 minutes ago, GoldenPhil said:

Recently I have been trying to wholesale 925 1oz necklaces as i believe there is a very small but significant chance at some point governments may start seizing gold and silver but if they do it will be the coins they take especially anything with a queens head on it , maybe bullion bars as well. BUT hallmarked jewelry MAY be left alone.

This morning I was quoted a wholesale price of £80 per 1oz necklace. Totally crazy prices . 

I have a 1 oz sterling necklace you can have for half that..lol.

[MancunianStacker]

20 minutes ago, silvernewbie said:

Im not talking about second hand but retail prices where u pay almost 80% markup in some uk asian Jewellers.  In the uk there is not much of a 2nd hand market for asian jeweller., unless you have friends selling

I can find plenty of 2nd hand Asian jewelry in Cheetham Hill Manchester. All new jewelry has a premium

[GoldenPhil]

Just now, Madstacks said:

I have a 1 oz sterling necklace you can have for half that..lol.

Exactly.  If you are happy to accept spot DM me. Lol

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1 minute ago, MancunianStacker said:

I can find plenty of 2nd hand Asian jewelry in Cheetham Hill Manchester. All new jewelry has a premium

Feel free to DM me with offers ... I may buy.

[watchesandwhisky]

4 minutes ago, GoldenPhil said:

Exactly.  If you are happy to accept spot DM me. Lol

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Added 0 minutes later...

Feel free to DM me with offers ... I may buy.

nice try🤣

£80 is insane though..

[vacancies]

11 hours ago, GoldenPhil said:

Recently I have been trying to wholesale 925 1oz necklaces as i believe there is a very small but significant chance at some point governments may start seizing gold and silver but if they do it will be the coins they take especially anything with a queens head on it , maybe bullion bars as well. BUT hallmarked jewelry MAY be left alone.

This morning I was quoted a wholesale price of £80 per 1oz necklace. Totally crazy prices . 

I do wonder if this land-grab could happen again (lot of chat about recently from some of the talking heads - Raoul Pal and Mike maloney etc etc). But they point towards more of a grab move on gold over silver.  I half buy into it but half feels tinfoil hat territory.

But... interesting that the UK released a -0.003 (neg) bond and it was over subscribed!  So that says that people are happy to take a loss to avoid inflation - surely a boon for silver and commodities which have value.

[Martlet]

40 minutes ago, vacancies said:

But... interesting that the UK released a -0.003 (neg) bond and it was over subscribed!  So that says that people are happy to take a loss to avoid inflation - surely a boon for silver and commodities which have value.

No, their was a gilt auction and it ended up at the reported yield because it was over subscribed. The bond coupon is 0.75%.

[Falcon55]

Seems to be a slight negative price correction this morning.

[vand]

No asset has been hotter than silver in recent weeks.

GSR has moved from a 125:1 peak back to 96:1 today, and we are challenging the Feb peak at £14.60

 

[GoldenPhil]

6 minutes ago, vand said:

No asset has been hotter than silver in recent weeks.

GSR has moved from a 125:1 peak back to 96:1 today, and we are challenging the Feb peak at £14.60

 

I keep taking my eye off this. Look at it go!

[Russell]

On 29/05/2020 at 19:36, GoldenPhil said:

I keep taking my eye off this. Look at it go!

Chart looks great Stairway to Heaven

[vand]

All the Covid selloff losses have now been recovered, and Silver is starting to behave much more like a precious metal than an industrial one.

 

[Russell]

Dow S&P nasdaq all on a massive suckers rally.  The Fed is in panic mode printing that money to keep bonds and stocks high on a sea of lies.  Debt to GDP is unsustainable and the Fed cannot print forever, that debt has to be serviced or defaulted on.  Fed cannot print jobs and cash flows!  P/E on the US stocks is above 33 times on average which is stupidly high.  Once the bad figures come in end Q2 the massive unemployment, huge numbers of businesses gone to the wall,  no recovery in the near future and the Fed has to stop printing there will be a FIAT currency crisis the like of which the world has never seen before.  All powell and mnuchin are hoping for is a huge return to consumer spending overnight to save the American and world economies and it just ain't going to happen.  Here in the UK the only good news is that we have jumped from the sinking titantic known as the EU thank goodness but our forcasts are dire.  Gold and Silver will shoot to the moon in my opinion.

[Russell]

[GoldenPhil]

UBI seems to be the inevitable outcome of capitalism doesn't it? 

[Russell]

On 05/06/2020 at 12:05, GoldenPhil said:

UBI seems to be the inevitable outcome of capitalism doesn't it? 

No in my opinion people confuse UBI as either a trait of Capitalism or Socialism.  We have been for sometime in a global Plutocracy where the 1% of the richest families in the world control the majority of wealth and resources.   Politicians are simply puppets on a string controlled by the masters who pull their strings.  We are still in a plutocracy which will now change its future model to fit a more populist nationlist agenda as the global bubble is well and truly burst.  I just cannot see China coming back as the worlds factory.   The bigger threat to the ordinary folks, the majority in my opinion is the rise of socialism as the depression that is coming is blamed on Capitalism unjustly.

[GoldenPhil]

My point is thus:

The goal of capitalism is growth and profit.

Efficiency grows profit.

Machines are more efficient than humans so under capitalism machines replace humans in the work place.

At the tipping point under capitalism there is not enough work for humans so their value becomes as consumers.  They are no longer needed to produce things BUT they are needed to buy things. It is at this stage the capitalists introduce UBI to keep the whole show going.

 

[Martlet]

14 minutes ago, GoldenPhil said:

My point is thus:

The goal of capitalism is growth and profit.

Efficiency grows profit.

Machines are more efficient than humans so under capitalism machines replace humans in the work place.

At the tipping point under capitalism there is not enough work for humans so their value becomes as consumers.  They are no longer needed to produce things BUT they are needed to buy things. It is at this stage the capitalists introduce UBI to keep the whole show going.

 

The UK economy is 80% service sector, even Germany it is 70%.  As machines replace labour intensive jobs people move to other roles, same as we moved from fields to factories, we move from factories to offices.  I dont know what comes next (to working at home, full circle?) but we will continue to find employment by fulfilling wants and needs.

[GoldenPhil]

I disagree. AI is going to replace more and more jobs.  Our only reason to exist will be to consume. 

[Roy]

[MancunianStacker]

1 hour ago, Roy said:

 

[Minimalist]

On 07/06/2020 at 11:26, GoldenPhil said:

My point is thus:

The goal of capitalism is growth and profit.

Efficiency grows profit.

Machines are more efficient than humans so under capitalism machines replace humans in the work place.

At the tipping point under capitalism there is not enough work for humans so their value becomes as consumers.  They are no longer needed to produce things BUT they are needed to buy things. It is at this stage the capitalists introduce UBI to keep the whole show going.

The context is correct.

New industries will emerge with AI which will be the largest wealth transfer in a global context. The East will maintain the dominant production force on the planet. The West will increase its consumption and destroy itself (middle class may be nearly decimated).

[Magma]

Population replacement, black swan event and then collapse. Cue mad max fight for survival and the inevitable, delicious reinstatement of gold coins as the only acceptable payment.

[vand]

I am expecting a big move up in Silver before the end of the summer. The consolidating sideways price action over the last 2 months has been very supportive as it has allowed the moving averages to catch up and the price to form a consolidating support zone. We have a 50/200dma golden cross just form. Everything is set up for a new rally that should easily take out the post-2015 highs.

[GoldenPhil]

17 minutes ago, vand said:

I am expecting a big move up in Silver before the end of the summer. The consolidating sideways price action over the last 2 months has been very supportive as it has allowed the moving averages to catch up and the price to form a consolidating support zone. We have a 50/200dma golden cross just form. Everything is set up for a new rally that should easily take out the post-2015 highs.

I dont agree. But I really hope @vandmakes me look a fool.