Silver Monitoring Thread £ (GBP) only.

[Minimalist]

4 hours ago, HawkHybrid said:

(just so that you know that I'm not having a go at you personally. we've all been known to only

hold rock, come hell or high water. there is no shame in holding rock, everyone has done it. once

you've learnt to hold rock, you can use it as a stepping stone to discover more.)

I dont take it personally.

No matter what you post, HH, I dont think you can mentally grasp the fundamentals of metals. Its impossible to reason with keynesians.

I know its hard for you to admit, but history is on my side 100% of the time. No chart, hypotheticals, artificial measurements and propaganda can convinced me.

[Minimalist]

2 hours ago, HerefordBullyun said:

You cant educate deluded Keynesians mate, they are always apperently right and very deluded.

Their commitment and desperation to support the theory of legalised gangsters is remarkable.

[Kman]

7 hours ago, sixgun said:

if the Chinese said we are backing the yuan with gold and we are revaluing that gold. The USD would disintegrate the same morning. It would turn the world on its head. The current powers will fight and fight against the metals - they have to or their system evaporates. If you do not grasp that, none of what i say or what some others say can make any sense.

So many reasons this is fantasy

China are known to manipulate their own currency to be favourable to them

Why would any government want to tie their hands with a gold standard?

The world runs on the repo market and eurodollar system, liquidity being king; how liquid is a gold standard? wouldnt  it be devastatingly deflationary 

How much global debt is there that needs to be paid in dollars? not gold yuan, dollars

If no more eurodollar system no more needs for treasuries as collateral, governments would be totally f**cked no? its impossible to pay off the debt you need to issue more, how would that work on a gold standard, who is going to forgive these debts?

Its like saying we could all switch to green energy tomorrow and leave fossil fuels behind, you need to ignore all the realities of the world to think thats possible

 

 

 

 

[sixgun]

6 minutes ago, Kman said:

So many reasons this is fantasy

China are known to manipulate their own currency to be favourable to them

Why would any government want to tie their hands with a gold standard?

The world runs on the repo market and eurodollar system, liquidity being king; how liquid is a gold standard? wouldnt  it be devastatingly deflationary 

How much global debt is there that needs to be paid in dollars? not gold yuan, dollars

If no more eurodollar system no more needs for treasuries as collateral, governments would be totally f**cked no? its impossible to pay off the debt you need to issue more, how would that work on a gold standard, who is going to forgive these debts?

Its like saying we could all switch to green energy tomorrow and leave fossil fuels behind, you need to ignore all the realities of the world to think thats possible

Yes the Chinese manipulate the yuan down at this point in time as the USD heads down the drain. They are similar to the Swiss who have for years sold their currency down or else their products are simply too expensive for foreigners.
The USD is no longer circling the drain - it is heading down the drain.
The Belt and Road Initiative is about the multipolar world. Getting away from dollar hegemony and the unipolar world. The Western financial system is f*c*ed. The USD is blowing up and Western governments will be f**cked yes.
The Chinese are flushing speculation out of their economy. They have been clamping down on crypto for some time - it just stepped up a gear with a ban. They made changes last year which (deliberately) brought about Evergreene. 
You are thinking in terms of the old paradigm. A new paradigm is forming and a foundation stone of this will be gold (and silver).
When the time comes and i do not expect that time is so many years away, the Chinese will reprice gold and launch the gold backed yuan. There will be a gold backed ruble as well. Russia and China have in the order of 40 000 tonnes of gold each, after years of draining the West. The reality is the world is rapidly de-dollarising and the American Empire is collapsing.

[TommyTwoShots]

Anyways, the price of silver seems to be falling. Buying Sterling seems to be more difficult. Go figure.

Edited September 25, 2021 by TommyTwoShots

[Minimalist]

39 minutes ago, Kman said:

Why would any government want to tie their hands with a gold standard?

Wages. Its honest money. We dont have that. Theres nothing wrong with a deflationary currency, it rewards production and hurts any form of speculators. 

[Martlet]

1 hour ago, Kman said:

So many reasons this is fantasy

China are known to manipulate their own currency to be favourable to them

Why would any government want to tie their hands with a gold standard?

The world runs on the repo market and eurodollar system, liquidity being king; how liquid is a gold standard? wouldnt  it be devastatingly deflationary 

How much global debt is there that needs to be paid in dollars? not gold yuan, dollars

If no more eurodollar system no more needs for treasuries as collateral, governments would be totally f**cked no? its impossible to pay off the debt you need to issue more, how would that work on a gold standard, who is going to forgive these debts?

Its like saying we could all switch to green energy tomorrow and leave fossil fuels behind, you need to ignore all the realities of the world to think thats possible

It's about people who want their personal ideals on economics to be real, even if the world has moved to a different place with different rules.  The debt that the world lives on wont disappear, its how economies function now.  No country would return to hard money, except out of desperation - their control and currency is in such a poor state that they need to secure it with something.  

Edited September 25, 2021 by Martlet

[silversky]

Martlet is correct, no country will voluntarily move back to hard money.  But war changes everything, and the losers will have their debts called in.  We're already in the midst of a social civil war, with Western nations now in freefall and no sign of a soft landing.  How long before an actual war? 

[HawkHybrid]

4 hours ago, sixgun said:

When two people come up with the same number one or other could be making that number up - they could both be making it up.

this is a real problem if one of them happen to be keith neumeyer talking about silver demand.

let me spell it out what I'm thinking so it's clearer.

keith neumeyer has no honour as,

he is bad mouthing thesilverinstitute to have untrustworthy figures,

figures which are identical to his own.

all of which I can''t prove.

 

you can look up the data but I tallied the figures for one of the years of all of the significant silver mining

production(official annual report figures). the total came close enough (%) to the number shown by

thesilverinstitute for that year. feel free to do the maths yourself if you don't believe me.

I expect the 1 billion toz figure is correct or close enough.

anyone can prove or disprove this but nobody here seems to be willing to spend the time to do the maths.

but then again people here are full of talk. unwilling to do the maths. first to dismiss the findings of someone

who has done some of the maths, purely on the basis that it's result doesn't fit the prejudice.

 

HH

[sixgun]

5 minutes ago, HawkHybrid said:

this is a real problem if one of them happen to be keith neumeyer talking about silver demand.

let me spell it out what I'm thinking so it's clearer.

keith neumeyer has no honour as, he is bad mouthing thesilverinstitute to have untrustworthy figures, figures which are identical to his own. all of which I can''t prove.

you can look up the data but I tallied the figures for one of the years of all of the significant silver mining production(official annual report figures). the total came close enough (%) to the number shown by thesilverinstitute for that year. feel free to do the maths yourself if you don't believe me.

I expect the 1 billion toz figure is correct or close enough. anyone can prove or disprove this but nobody here seems to be willing to spend the time to do the maths.

but then again people here are full of talk. unwilling to do the maths. first to dismiss the findings of someone who has done some of the maths, purely on the basis that it's result doesn't fit the prejudice.

 

HH

Are you actually listening to the video and what he says?
He says that mined productions is known - it's in company accounts. He says that is known. He is not disputing those numbers with the Silver Institute but after than he says they cannot know the numbers b/c that information isn't known. 
You are creating Strawman arguments. 

This is one of the reason i put you on ignore comments - why the hell do i click on your posts to see what you have put? i must be tapped. 

[Gruff]

7 hours ago, GoldStandardPartyUK said:

Here here.

But you reached the right conclusion via the wrong route. 

I work for a bank, I know of what I speak. Banks have made huge changes since 2008, they are now in a regulatory straight jacket. The bank I work for essentially operates as an arm of the government. Regulators learned the wrong lessons in my opinion, they didn't take the road of free markets they went deeper into regulation having the effect of making it virtually impossible for the bank to fail, it's "risk off" everywhere. You should see the sausage factory that is product design process. Everything is determined by regulators, I have plenty of examples of the government strangling the banks. There are no banksters in banks mate, only bureaucracy of the timid, no innovation, everything is safety first.

I get what you mean about the regulation but then how would you describe the JPMC $920million fine for market rigging? They aren't a "central bank" and I wouldn't believe that it was only a handful of lowly traders. Those decisions to rig markets too that extent come from the top.

You only need to look at the below and see the size of the fines that these banks have paid since 2000.

https://violationtracker.goodjobsfirst.org/prog.php?major_industry_sum=financial+services

[sixgun]

2 hours ago, Martlet said:

It's about people who want their personal ideals on economics to be real, even if the world has moved to a different place with different rules.  The debt that the world lives on wont disappear, its how economies function now.  No country would return to hard money, except out of desperation - their control and currency is in such a poor state that they need to secure it with something.  

A country in a desperate state cannot afford jack sh**t, so how are they going to get the gold to back their worthless paper? They aren't.
The gold standard never failed, it was failure to apply the gold standard.

Debt is only as good as the ability of the debtor to pay. Lots of debt disappears.  

When fiat becomes worthless as all fiat has eventually done, then what will happen? Are people who have no hard assets but had misplaced faith in the paper system going to accept another fiat?
What other countries will accept this new unbacked (worthless) currency?
What it means for the citizens of the bankrupt fiat countries is poverty (unless they have hard assets). The country will become incapable of importing goods b/c the currency is trash. 

Some members seem to imagine things will somehow carry on carrying on as before. The system is broken. It was always going to break. More of the same is not the solution.

Edited September 25, 2021 by sixgun

[TommyTwoShots]

And yet more of the same is exactly what will continue.

[HawkHybrid]

41 minutes ago, sixgun said:

He is not disputing those numbers with the Silver Institute but after than he says they cannot know the numbers b/c that information isn't known. 

how convenient he is not disputing the numbers that have annual production accounts to back them up.

but he's vague about which numbers he's does think they are making up.

(he can't be wrong then can he, ... it's not those numbers either, so keep on guessing)

sounds like he's full of ****.

 

and you openly dismiss thesilverinstitutes figures knowing that at least their mining production

figures are close enough to being correct. and you base this on a keith neumeyers word?

his word that is so vague it cannot be verified either way?

 

(doesn't knowing the mining production mean that you know most of the supply side of things?

there's only two sides to the equation, demand and supply. and you already know most of the

supply side.)

 

HH

Edited September 25, 2021 by HawkHybrid

[sixgun]

1 hour ago, HawkHybrid said:

how convenient he is not disputing the numbers that have annual production accounts to back them up.

but he's vague about which numbers he's does think they are making up.

(he can't be wrong then can he, ... it's not those numbers either, so keep on guessing)

sounds like he's full of ****.

 

and you openly dismiss thesilverinstitutes figures knowing that at least their mining production

figures are close enough to being correct. and you base this on a keith neumeyers word?

his word that is so vague it cannot be verified either way?

 

(doesn't knowing the mining production mean that you know most of the supply side of things?

there's only two sides to the equation, demand and supply. and you already know most of the

supply side.)

 

HH

He spends several minutes going over the numbers. Explaining why most of the numbers are not known and yet the Silver Institute posts numbers.

Knowing mining production means you know most of the supply side (which i don't believe anyone was actually disputing until you decided to make a strawman argument out of it). BUT it doesn't mean you understand an important part of the supply side. As i pointed out the silver market has allegedly been in deficit for a long time. In about 2016 in counted 13 years. i said i have asked multiple times in multiple places and i get no answer as to where the supply is coming from that fills the deficit. Where is this silver mountain that has been tapped for the best part of 20 years?

Does it mean that many of the numbers are wrong and there hasn't been this consistent deficit - this is quite possible, or does it mean there was a mountain of silver? If there was a mountain how big is it now? If the filler for the short fall in supply disappeared then someone will go short and price takes off as there is a scramble.

[Minimalist]

2 hours ago, silversky said:

Martlet is correct, no country will voluntarily move back to hard money.  But war changes everything, and the losers will have their debts called in.  We're already in the midst of a social civil war, with Western nations now in freefall and no sign of a soft landing.  How long before an actual war? 

Wrong.

The East are preparing for it. They are purchasing Gold in record amounts. They will roll out a digital-hybrid-gold-system. The value will be directly linked to gold.

[HerefordBullyun]

5 minutes ago, Minimalist said:

Wrong.

The East are preparing for it. They are purchasing Gold in record amounts. They will roll out a digital-hybrid-gold-system. The value will be directly linked to gold.

Correct china is already looking at a digital gold backed yuan.

[sixgun]

15 minutes ago, Minimalist said:

Wrong.

The East are preparing for it. They are purchasing Gold in record amounts. They will roll out a digital-hybrid-gold-system. The value will be directly linked to gold.

Minimalist is correct. The world is changing very fast. Most people in the West haven't a clue and will be caught completely by surprise. They look at the controlled media and see countries where the currency has collapsed and the mess it causes but don't join the dots with the situation around them. No-one owes you a free lunch. The countries repatriating their gold and those stockpiling it are not doing this for fun or because it is a shiny metal. There is method in their madness. There will be gold backed digital currencies. He who has the gold makes the rules. 

Edited September 26, 2021 by sixgun

[Roy]

Ok, if this correct...

What will we do with our gold? How do we convert it to a gold backed digital currency?

Will it be revalued like 1933?

Will we have to accept the government's potentially criminal exchange rates? Black markets?

 

[silversky]

27 minutes ago, Minimalist said:

Wrong.

The East are preparing for it. They are purchasing Gold in record amounts. They will roll out a digital-hybrid-gold-system. The value will be directly linked to gold.

I meant no WESTERN country.  The liberal order is entirely addicted to ponzi fiat scheme and will not be going back voluntarily.  My point was that they may be forced to by the actions of others, either by concerted action economically or by war itself.  The former is more likely, with control of energy being usurped from the now hopelessly crippled west because of climate guff.  But the latter is certainly not out of the question.  Pressure continues to build and at some point something will give.

[sixgun]

55 minutes ago, Roy said:

Ok, if this correct...

What will we do with our gold? How do we convert it to a gold backed digital currency?

Will it be revalued like 1933?

Will we have to accept the government's potentially criminal exchange rates? Black markets?

 

China and Russia will decide the value - He who has the gold makes the rules. That's as long as the BIS doesn't get in their first and revalues gold. In the run up to year end and full Basel III compliance, the BIS is getting rid of all the unallocated paper gold on its books. This is causing all the volatility in the metals markets. Basel III downgrades the unallocated spot gold (paper spot gold) and upgrades real allocated physical gold. Some people might say this is a move to stabilise the system, like China is doing when she blows off the froth and tightened the rules last year so speculative bubbles like Evergrande get burst.

How could you exchange your physical for digital? - well you could sell it for digital gold like you do for fiat. There might well also be systems like the (EPD) Exchange Physical for Digital that Kinesis has. So you could deposit metal in the system and get KAU and KAG. 

Some people have been taking notice for a long time and joining the dots. i don't know who these people are, it can't be me b/c i'm a lunatic.

[sixgun]

1 hour ago, silversky said:

I meant no WESTERN country.  The liberal order is entirely addicted to ponzi fiat scheme and will not be going back voluntarily.  My point was that they may be forced to by the actions of others, either by concerted action economically or by war itself.  The former is more likely, with control of energy being usurped from the now hopelessly crippled west because of climate guff.  But the latter is certainly not out of the question.  Pressure continues to build and at some point something will give.

Climate guff?!!

[Martlet]

6 hours ago, HerefordBullyun said:

Correct china is already looking at a digital gold backed yuan.

Is there evidence of this?  And i dont mean from goldbug youtube speculation, actual commentry from general economic or news sources.  I have no doubt Chinese move to a digital currency, just not gold backed.  If we mean a crypto based digital currency, it would be a contradiction as the crypto algo secures and gives confidence to the currency, gold or silver arent necessary. 

[HerefordBullyun]

9 minutes ago, Martlet said:

Is there evidence of this?  And i dont mean from goldbug youtube speculation, actual commentry from general economic or news sources.  I have no doubt Chinese move to a digital currency, just not gold backed.  If we mean a crypto based digital currency, it would be a contradiction as the crypto algo secures and gives confidence to the currency, gold or silver arent necessary. 

There is lot of articles speculating they have, I dont doubt that havent considered it, and some saying its coming next year. They already have a petro yuan, 

https://goldalliance.com/blog/is-china-planning-to-attack-the-dollar-with-a-gold-backed-yuan/

https://kingworldnews.com/china-will-launch-a-digital-gold-backed-currency-at-the-start-of-2022/

It would seem logical they do as the greenifying of the oil sector continues.

What you have to understand and your talking to is an IT guy, and a bloke who knows a thing or two from serving in the forces,

Tech is a double edged sword, it can be used for the good or used as weapon, But also nothing in tech is foolproof including crypto. Its exploitable.

So if you had something thats exploitable why wouldnt you give it a secondary layer of being backed by a hard trackable asset like gold.

The chinise are one of the cleverest harding working race on the planet, but the downside they rule by fist.

If you want to say by 2025 that china  will have a gold backed CDBC Im happy to take the bet if you have the khunas - say 10oz of silver?

[Minimalist]

You know what gets me the most and I have stated this before in another thread its the way the West is - its the arrogance and proverbial tonne of keynesianism. See if you bring the average keynesians attention to history and explain no fiat system has ever survived the denial, the outright refusal to acknowledge this fact is so prevalent that you are met with "its different this time because…"

Westerners are the most easily manipulated, coerced and brainwashed into believing anything and everything the banks, media and gov tell them. Look at the reactions in here at the thought of the silver price being manipulated.

Any reasonable person, in gov, or in a position of power would reform monetary policy right away - as soon as possible. Not one country in the West seems to care.

We are in for tsunami of shock. Russia is marking up for the change, the only European country, some in here wont want to admit it but thats the complete truth.