Silver Monitoring Thread £ (GBP) only.

[Gruff]

@silversky @Mtaybar
It's mad, I doubt it'll be able to. 

As much as I'd love it to keep on climbing, I think it will be coaxed lower, I can see them throwing a lot at it to keep it under the much touted $25. I think that is a psychological number that is important to both sides.

[BackyardBullion]

My take....

Boat loads of cash have been taken out of PM's over this last 3 months to fuel recovery investments. Inflation report is just the catalyst for a lot of that money to go back into the PM market.

Inflation is transitory, it will settle as supply chains open up and work more efficiently over time. How long will this take? Anybody's guess but one thing I am very certain of is that the dollar won't hyperinflate any time soon

[silversky]

Just now, Mtaybar said:

It is pretty impressive. I wonder if it'll stay there. 

I thought the price was going to form a rising triangle around the 18 resistance level.  But that resistance level has been completely blasted through instead.

A look at the chart of gold might help to determine where this will settle.  They were a bit out of sink with each other in terms of their structures in time for a move upwards.  But this kind of shakes things up and might have put them both in the same direction for the same timescale.

[Martlet]

17 minutes ago, Gruff said:

I'm honestly surprised people bought the whole "transitory inflation" BS for so long. Looks like the masses are finally starting to wake up to the fact it's going to get a whole lot worse.. inflation will be hear to stay I feel.

Because it was and remains primarily caused by supply constraint, not demand increase.  

How it plays out is a rate rise and subsequent hit to gold, other markets in reaction. Then when oil prices drop and supply picks up, a risk of sharp reversal. 

[BackyardBullion]

5 minutes ago, Martlet said:

Because it was and remains primarily caused by supply constraint, not demand increase.  

How it plays out is a rate rise and subsequent hit to gold, other markets in reaction. Then when oil prices drop and supply picks up, a risk of sharp reversal. 

100% right, also know as transitory

[silversky]

Everything's transitory if you expand the timescale chaps.   It just depends what timescale you think is appropriate.

If it was 6 months only, then I would agree with you.  Two years, certainly not.  Perhaps we would find more agreement if we flesh out what we mean by the word transitory.  For me, transitory is absolutely categorically less than a year.

When do you see this 'transitory' inflation ending?  And what length of time does the word imply to you?

[Gruff]

14 minutes ago, Martlet said:

Because it was and remains primarily caused by supply constraint, not demand increase.  

How it plays out is a rate rise and subsequent hit to gold, other markets in reaction. Then when oil prices drop and supply picks up, a risk of sharp reversal. 

That and the fact that more FIAT debt has been created in the last 20 months than in all time. And that is the USD only. Let alone all other countries. That will cause inflation regardless of supply constraints. 

 

 

10 minutes ago, BackyardBullion said:

100% right, also know as transitory

I suppose it all depends on your definition of 'transitory' 
1 year, 1 decade? 

2 minutes ago, silversky said:

Everything's transitory if you expand the timescale chaps.   It just depends what timescale you think is appropriate.

If it was 6 months only, then I would agree with you.  Two years, certainly not.  Perhaps we would find more agreement if we flesh out what we mean by the word transitory.  For me, transitory is absolutely categorically less than a year.

When do you see this 'transitory' inflation ending?  And what length of time does the word imply to you?

You beat me to it...

[Martlet]

14 minutes ago, Gruff said:

That and the fact that more FIAT debt has been created in the last 20 months than in all time. And that is the USD only. Let alone all other countries. That will cause inflation regardless of supply constraints. 

That's what the text books say.  We have a decade of QE in west with little impact on inflation to argue against.  Personally, I think we have a different scenario coming up with the US planning tangible spending rather than supporting bank balance sheets.  

[Paul]

[silversky]

34 minutes ago, Martlet said:

Because it was and remains primarily caused by supply constraint, not demand increase.  

How it plays out is a rate rise and subsequent hit to gold, other markets in reaction. Then when oil prices drop and supply picks up, a risk of sharp reversal. 

Oil prices don't look likely to drop any time soon.  And increasing interest rates isn't going to bring the price of oil down when you cut your own production.  The Brandon administration have been very determined to cause significant self inflicted damage to the USA's energy independence.  Keystone was a massive blunder and the line 5 issue which has upset the Canadians into invoking an old treaty, certainly isn't going to help.  For now they're denying that they ever intended to shut it down, but there was clearly a move towards that which forced the Canadians' hands.  The USA has ideologues in power right now.  That means three more years of energy insanity, and most likely a further significant increase in the money supply.  Hence my view that inflation is far from transitory.

Here in the UK we're playing the same silly game.  There's a lifetimes supply of gas under our feet, and yet we're playing for the most expensive energy option there is.  The cost of energy will necessitate more government largesse and this will drive inflation.  The cost in pounds of anything real is set to rise, regardless of demand.

[Gruff]

23 minutes ago, Martlet said:

That's what the text books say.  We have a decade of QE in west with little impact on inflation to argue against.  Personally, I think we have a different scenario coming up with the US planning tangible spending rather than supporting bank balance sheets.  

Perhaps, however the QE over the last decade, compared to the last 20 months is chalk and cheese. Regardless of the UKs £GBP amount of QE over this time, the $USD has now exported a lot of it's inflation to the rest of the world due it being the Global Reserve currency. 
Even if the rest of the world had not created any more debt we would still be facing some of those inflationary pressures due to the $USD. 

The non-central banks & governments might have been able to suppress/manipulate some inflation for a while, but it looks like it's coming home to roost now. The can can no longer be kicked down the road. 

[DarkChameleon]

1 hour ago, silversky said:

Oil prices don't look likely to drop any time soon.  And increasing interest rates isn't going to bring the price of oil down when you cut your own production.  The Brandon administration have been very determined to cause significant self inflicted damage to the USA's energy independence.  Keystone was a massive blunder and the line 5 issue which has upset the Canadians into invoking an old treaty, certainly isn't going to help.  For now they're denying that they ever intended to shut it down, but there was clearly a move towards that which forced the Canadians' hands.  The USA has ideologues in power right now.  That means three more years of energy insanity, and most likely a further significant increase in the money supply.  Hence my view that inflation is far from transitory.

Here in the UK we're playing the same silly game.  There's a lifetimes supply of gas under our feet, and yet we're playing for the most expensive energy option there is.  The cost of energy will necessitate more government largesse and this will drive inflation.  The cost in pounds of anything real is set to rise, regardless of demand.

You have to motivate change, if nobody will listen you cut what they get till they change over to solar, here in Florida we have a republican governor who won't let people install solar, the sun state won't allow solar, how stupid is that, it's sun every day of the year but he's in the pocket of fpl...so he let's they print money, the flooding and red tide with blue green algae is from lake o being allowed to release water to the west and not into the everglades because big sugar own the legislature...things will not change while people in power are allowed to take bribes cos they change the law so it's legal to bribe them.

[Minimalist]

No one in here should be entertaining the Cartels "transitory" deception. Even their gangster measurements that conceal basic needs wont hide it.

Remember, the Cartel said its temporary.

You either believe it or youll keep buying?

Im stacking… for my friend*

[Martlet]

1 hour ago, DarkChameleon said:

You have to motivate change, if nobody will listen you cut what they get till they change over to solar, here in Florida we have a republican governor who won't let people install solar, the sun state won't allow solar, how stupid is that,

That is utterly moronic and shows there are ideologues on all sides.  Thats not even republican, should stand back and let market, business and individuals decide how to generate power. 

[Paul]

Nearly at £50oz ....not far to go now.....

[HerefordBullyun]

1 hour ago, Minimalist said:

 

Im stacking… for my friend*

Is he the invisible man?😁

[DarkChameleon]

3 hours ago, Martlet said:

That is utterly moronic and shows there are ideologues on all sides.  Thats not even republican, should stand back and let market, business and individuals decide how to generate power. 

We have a rate about average in a state full of nothing but sunshine...we could save a fortune with solar on houses, fields etc, we could with Texas and new Mexico and Arizona provide enough solar to cover America's needs and not have to make everything ugly with 200 ft wind turbines.

[Gruff]

12 minutes ago, DarkChameleon said:

We have a rate about average in a state full of nothing but sunshine...we could save a fortune with solar on houses, fields etc, we could with Texas and new Mexico and Arizona provide enough solar to cover America's needs and not have to make everything ugly with 200 ft wind turbines.

How would they stand up to the tropical storms you get in the South Eastern and Eastern US? Could that potentially be costly?

[silversky]

1 hour ago, DarkChameleon said:

You have to motivate change, if nobody will listen you cut what they get till they change over to solar, here in Florida we have a republican governor who won't let people install solar, the sun state won't allow solar, how stupid is that,

Yeah right... if your people don't believe the climate scam, "you cut what they get till they change".

That sounds a bit ideological to me, but I can't say that I'm particularly surprised given your previous expressions of support for the antifa communists.

BTW, I don't believe for one moment your assertion that you can't install solar panels in Florida.  I'm pretty sure you just made that up to slur the governor and make it sound like the crazy goes both ways.  It's a patently absurd thing to suggest and I simply don't believe it.

I've just checked it right now, and of course it's not true!  The first page I came across is linked below and it's clearly allowed to install solar in Florida.  Dated May this year so not out of date.

I don't know how the details got mixed up wherever you get your news, but perhaps it's that the guvvna won't let you sell electricity to the grid at a subsidised price or something like that?  That would of course be an entirely different matter to not letting you install panels for your own use.  There are places (Spain) where scamsters have been making money through subsidies, selling fake solar energy to the grid and generating it using diesel!!!  Yup.. that's right.. diesel!!!  Now that sort of thing obviously needs to be kept in check, and so there have to be rules and regs about how your power supply is connected to the grid.  That does not mean you're not allowed solar panels.  Perhaps you think there should be more generous state subsidies which pay you for having them?  It certainly seems like there are schemes to write off against tax for the cost of install so I really don't see your argument based in reality at all.

https://www.solarreviews.com/blog/solar-panels-florida-worth-it-expert-savings-guide

As said before (and back towards the point of this thread), the oil price affects the rest of the world deeply.  Deliberate high energy costs will increase inflation everywhere, and this eventually affects the price of silver in pounds.  I don't believe that either the fed or the BOE will be able to keep a lid on this by raising rates.  They don't have any room to do that without crashing everything.  I therefore don't believe that this is 'transitory' and I expect higher prices in gold, silver, houses and just about everything you can touch.

 

 

[DarkChameleon]

1 hour ago, Gruff said:

How would they stand up to the tropical storms you get in the South Eastern and Eastern US? Could that potentially be costly?

Fine as much as anything else, a town near me has a solar field but only got it by giving away hundreds of acres to FPL....its a game of bribes, while the electric company bribes politicians in the form of election donations and super pacs it won't change but there's no hope cos the Supreme court judges also get bribed.

[DarkChameleon]

2 hours ago, silversky said:

Yeah right... if your people don't believe the climate scam, "you cut what they get till they change".

That sounds a bit ideological to me, but I can't say that I'm particularly surprised given your previous expressions of support for the antifa communists.

BTW, I don't believe for one moment your assertion that you can't install solar panels in Florida.  I'm pretty sure you just made that up to slur the governor and make it sound like the crazy goes both ways.  It's a patently absurd thing to suggest and I simply don't believe it.

I've just checked it right now, and of course it's not true!  The first page I came across is linked below and it's clearly allowed to install solar in Florida.  Dated May this year so not out of date.

I don't know how the details got mixed up wherever you get your news, but perhaps it's that the guvvna won't let you sell electricity to the grid at a subsidised price or something like that?  That would of course be an entirely different matter to not letting you install panels for your own use.  There are places (Spain) where scamsters have been making money through subsidies, selling fake solar energy to the grid and generating it using diesel!!!  Yup.. that's right.. diesel!!!  Now that sort of thing obviously needs to be kept in check, and so there have to be rules and regs about how your power supply is connected to the grid.  That does not mean you're not allowed solar panels.  Perhaps you think there should be more generous state subsidies which pay you for having them?  It certainly seems like there are schemes to write off against tax for the cost of install so I really don't see your argument based in reality at all.

https://www.solarreviews.com/blog/solar-panels-florida-worth-it-expert-savings-guide

As said before (and back towards the point of this thread), the oil price affects the rest of the world deeply.  Deliberate high energy costs will increase inflation everywhere, and this eventually affects the price of silver in pounds.  I don't believe that either the fed or the BOE will be able to keep a lid on this by raising rates.  They don't have any room to do that without crashing everything.  I therefore don't believe that this is 'transitory' and I expect higher prices in gold, silver, houses and just about everything you can touch.

 

 

Let's dump the antifa junk right now, I live in Florida, I'm in a community of 2500 houses in Florida, youcan check the cost of electricity in florida comparbugs. the state by state cost, we are in the middle but for a sunshine state we could be net zero if we were to be allowed to create our own electric via solar, the legislature make it all but impossible to do that, the competition with florida power and lighting would be incredible, I have seen more solar fields in massachusetts then florida and ask anyone from MA about the sunshine there...the excuse is the cost of storage of electric created by homes but we could use tesla home batteries to keep us off the grid entirely if tesla were making enough but they're concentrated on car batteries right now.

Why when FPL can use solar can't the people?,one reason, florida makes it illegal to buy solar from anyone who is not a utility company so you can't sell excess to FPL, to have a roof solar put in you have to have a massive insurance policy which has resulted in 1% of florida produces solar power...go check it out, the republican legislature made those rules to stop private parties making their own solar, even Babcock range close to me had to donate the land for a solar farm then promise to buy all the power they need from that farm even though the farm is owned by FPL hense the utility law to buy from....id have roof solar installed tomorrow morning if I could and have actively considered moving to Babcock ranch to benefit from solar even if the corrupt solar/utility/legislature still get their bungs.

Edited November 11, 2021 by DarkChameleon

[DarkChameleon]

2 hours ago, Gruff said:

How would they stand up to the tropical storms you get in the South Eastern and Eastern US? Could that potentially be costly?

We have the ability to secure things given the experience of as you say hurricanes etc, hurricane Irma passed right by my house and I didn't lose one tile off my roof, the devastation tends to be on older homes and cheaper construction, even highway signs were torn off when they hadn't been prior removed over the days of notice of a potential local landfall...we can have pool heaters installed on our homes which just have the water pumped across the roof to reduce heating costs for our pools if we choose but pool heating only really costs about $100 a month cos they heat themselves up but for the peak of winter.

[Minimalist]

6 hours ago, HerefordBullyun said:

Is he the invisible man?😁

No comment. 😁

[Zhorro]

In the past month, silver is up nearly 13%.

[sovereignsteve]

3 minutes ago, Zhorro said:

In the past month, silver is up nearly 13%.

Or if you look at the last 6 months😉