Silver Monitoring Thread £ (GBP) only.

[katyc]

29 minutes ago, gji25 said:

is this the real reason theres a bit of a shortage in silver ?

 

Although I've seen loads of info on silver shortage and I'm positive it's for real (India being a small chuck of the stocks dwindling but not the main reason). I don't think the paper shares will hold up much longer and some corrupt figures will come to light which will cause a bull on physical. There's already been one bank in the past fined millions for the same....

Edited October 21, 2022 by katyc

[SidS]

To be fair though they've been saying all this since 2010, the paper market scam will fold etc. It still hasn't happened. It's not that I don't believe that it should happen, it's just I've been sat in the waiting room so long now that I'm beginning to think it won't. I'm sat on a nice pile of silver so I'd do well if it did.

[katyc]

32 minutes ago, SidS said:

To be fair though they've been saying all this since 2010, the paper market scam will fold etc. It still hasn't happened. It's not that I don't believe that it should happen, it's just I've been sat in the waiting room so long now that I'm beginning to think it won't. I'm sat on a nice pile of silver so I'd do well if it did.

Very true. But I guess because of quantitive easing the gov have faked society in to thinking all is OK. Now we are past 100% debt to gdp (at least I think we are so don't hold me to that 😬) - so maybe this means it'll come to the surface sooner than we think....

[SidS]

21 minutes ago, katyc said:

Very true. But I guess because of quantitive easing the gov have faked society in to thinking all is OK. Now we are past 100% debt to gdp (at least I think we are so don't hold me to that 😬) - so maybe this means it'll come to the surface sooner than we think....

I did state somewhere on here, last year, that if a decade of QE and Covid couldn't trigger higher silver prices, then nothing would. How much worse does the economy actually have to get to top 2011?

Now we've got a war in Europe too and there's not been a great deal of movement. So my sceptical hat is firmly on now. Maybe I should be getting back into gold?

But then I feel gold is pretty high... That said it could go higher.

I feel silver is undervalued, my gut instinct is telling me that too. We all know silver should be higher (like copper is in demand) - but if the paper game cannot be broken (even with the whole Silver Squeeze attempt last year) then where is the upside?

[katyc]

1 hour ago, SidS said:

if a decade of QE and Covid couldn't trigger higher silver prices, then nothing would

I think when the stocks come crashing (there's a good chance they will fall much harder - but who knows if that's for definite). then everyone will move over to PMs. Silver being more affordable, hence usually bulls the most in these circumstances. But if/when.... could be tomorrow, could be dragged out a few more years.... I get the feeling it's soon the way inflation and interest rates are going. In a way I just want it over and done with because, while it's scary, it's inevitable the economy will collapse eventually (as it always does in history). And the longer it's dragged out the worse the situation will get. We need a crystal ball I guess! 

[Paul]

2 hours ago, SidS said:

if a decade of QE and Covid couldn't trigger higher silver prices, then nothing would.

Exactly my feelings. I've sold out over 3000oz now in the past year. Scoring some profits to be fair even sith SLVs lack lustre performance, and a little loss on others.

Absolutely no shortage of buyers out there on feebay wanting silver. I'm content to just move into gold 100%

wish I had done since day 1 to be fair 

Gold hits £5k Oz before I'm 50 I'll retire early

[katyc]

8 minutes ago, Paul said:

Exactly my feelings. I've sold out over 3000oz now in the past year. Scoring some profits to be fair even sith SLVs lack lustre performance, and a little loss on others.

Absolutely no shortage of buyers out there on feebay wanting silver. I'm content to just move into gold 100%

wish I had done since day 1 to be fair 

Gold hits £5k Oz before I'm 50 I'll retire early

I'm still holding out hope because quantitative easing isn't possible anymore due to the GDP/debt level. But - who knows what the government will magic up to get around that fact. And, in a few years, I'll probably be saying exactly what you've said and selling my silver with resentment and wishing I'd listened to you sooner! 😆

Edited October 21, 2022 by katyc

[Paul]

3 minutes ago, katyc said:

I'm still holding out hope because quantitative easing isn't possible anymore due to the GDP/debt level. But - who knows what the government will magic up to get around that fact. And, in a few years, I'll probably be saying exactly what you've said and selling my silver with resentment! 😆

I've waited 10+  years now, bur I'm ooooooooottttttt!! Now

Quite happy to retake a punt on silver again but it will be via bullionvault only not actual in hand coins 

 

Edited October 21, 2022 by Paul

[SidS]

2 minutes ago, katyc said:

I'm still holding out hope because quantitative easing isn't possible anymore due to the GDP/debt level. But - who knows what the government will magic up to get around that fact. And, in a few years, I'll probably be saying exactly what you've said and selling my silver with resentment! 😆

I've been holding silver since 2000. I started out on $5 an oz silver, been buying throughout - I often think I should have sold out in 2010, like I did with my gold, except I should have kept the gold and sold the silver.

[katyc]

7 minutes ago, Paul said:

I'm ooooooooottttttt!!

I read that in the style of Duncan Bannatyne with a Scottish accent!

[Paul]

1 minute ago, katyc said:

I read that in the style of Duncan Bannatyne with a Scottish accent!

That's how I wrote it

[spookyandroid]

Silver is prime to explode IMO. Fiat (mostly USD) is currently rallying, without logic or reason, whilst simultaneously being irrecoverable, regardless of tack, growing an economy and paying off debt without affecting interest rates and running up more debt. Zero chance. 

So economic hardship, twinned with a new "greener" outlook, of which silver is a main component, its hard to see these price levels hold much longer. 

Obviously everything is speculative unless you're an inside trader but seems a no brained to me.

[Robda1986]

1 hour ago, spookyandroid said:

Silver is prime to explode IMO. Fiat (mostly USD) is currently rallying, without logic or reason, whilst simultaneously being irrecoverable, regardless of tack, growing an economy and paying off debt without affecting interest rates and running up more debt. Zero chance. 

So economic hardship, twinned with a new "greener" outlook, of which silver is a main component, its hard to see these price levels hold much longer. 

Obviously everything is speculative unless you're an inside trader but seems a no brained to me.

True but seeing as how silver has just had the perfect storm to cause it to explode and it didn't I'm not seeing how this stands any better chance.

Media attention from Redit,

Supply restrictions from covid,

Availability issues from most of the major mints and refineries,

You only need to look at the last 10 years and see its not doing anything it hasn't before and given inflation is around the 20% its less now than it was at the beginning of the year before Russia, fuel hikes ect 

 

[spookyandroid]

1 hour ago, Robda1986 said:

True but seeing as how silver has just had the perfect storm to cause it to explode and it didn't I'm not seeing how this stands any better chance.

Media attention from Redit,

Supply restrictions from covid,

Availability issues from most of the major mints and refineries,

You only need to look at the last 10 years and see its not doing anything it hasn't before and given inflation is around the 20% its less now than it was at the beginning of the year before Russia, fuel hikes ect 

 

And its that sort of viewpoint that smart money would want you to have. You offload your silver whilst they buy it cheap. You can see there are large shorts open on paper silver which are increasing in fees, meaning it will likely come to an end soon. 

Premiums are increasing on silver and I've heard rumours that many brokers are running low, US mint has also apparently ceased to mint any new silver. 

Perhaps someone with more info, I.e. a broker or someone working at a mint could further confirm or deny?

Personally I don't find it to be a case of missed perfect storm, just because it didn't happen or feeling are that it won't happen. Its not if, but when, so for me its just more reason to think when it does happen it will be even more volatile.

The state of what were in economically is gargantuan in comparison to prior recessions and is yet to be felt, at that point, when SHTF silver and gold will go vertical - IMO of course, based on what we've seen historically. We are not yet at peak pain, I do think its going to happen soon however.

Edited October 23, 2022 by spookyandroid

[Robda1986]

1 hour ago, spookyandroid said:

And its that sort of viewpoint that smart money would want you to have. You offload your silver whilst they buy it cheap. You can see there are large shorts open on paper silver which are increasing in fees, meaning it will likely come to an end soon. 

Premiums are increasing on silver and I've heard rumours that many brokers are running low, US mint has also apparently ceased to mint any new silver. 

Perhaps someone with more info, I.e. a broker or someone working at a mint could further confirm or deny?

Personally I don't find it to be a case of missed perfect storm, just because it didn't happen or feeling are that it won't happen. Its not if, but when, so for me its just more reason to think when it does happen it will be even more volatile.

The state of what were in economically is gargantuan in comparison to prior recessions and is yet to be felt, at that point, when SHTF silver and gold will go vertical - IMO of course, based on what we've seen historically. We are not yet at peak pain, I do think its going to happen soon however.

Don't get me wrong I like silver but I think if Russia, China, Turkey, South America pull off what their hoping for then yea we will definitely see massive rises in pm paper value. Think its called the. Moscow reserve market. Or something along those lines. Their sick of the manipulation from the fed and the western banks and want a new reserve currency to replace the dollar and have it permanently based and backed by pms in which case where pms land currency wise is a complete guess 

[spookyandroid]

Aye. I believe all roads point north tbh, the Moscow Gold standard/exchange and Brics reserve currency, backed by metals also only exacerbate price rallies of gold, silver and even platinum

 

[SidS]

After 22 years, this is where I'm at with silver and the imminent price explosion...

 

[spookyandroid]

3 hours ago, SidS said:

After 22 years, this is where I'm at with silver and the imminent price explosion...

 

haha, I get it. If I'd been waiting that long I'd probably be the same. The thing is, we're not going through the same times as we were 20 years ago. Silver isn't known for pulling up trees during economic growth, rather, its known for being a place to go when things go to sh!t, that's where we are right now. 

These are more my feels right now.

 

 

[HerefordBullyun]

India jumps on the Silver bandwagon

 

[SidS]

15 minutes ago, spookyandroid said:

haha, I get it. If I'd been waiting that long I'd probably be the same. The thing is, we're not going through the same times as we were 20 years ago. Silver isn't known for pulling up trees during economic growth, rather, its known for being a place to go when things go to sh!t, that's where we are right now. 

These are more my feels right now.

 

 

Don't get me wrong I've made some profits on silver, I was buying at $5 per oz, so some profits are built in. But I'll be stunned if we get to $50 per oz by 2030.

Would I like it to get there?

YES.

Will it?

I doubt it.

[timsk]

51 minutes ago, SidS said:

Don't get me wrong I've made some profits on silver, I was buying at $5 per oz, so some profits are built in. But I'll be stunned if we get to $50 per oz by 2030.

Would I like it to get there?

YES.

Will it?

I doubt it.

I'm in the camp that believes the current financial crises is - to some extent at least - orchestrated and that the powers that be want either to crash the system or degrade it to such an extent that they can then 'build back better' by ushering in Central Bank Digital Currencies (CBDCs). When that happens, there will be a literal stampede towards PMs, as they'll be the only universal home worldwide where people can store their wealth outside of the financial system. A place where governments and their agencies can't see who has what and where etc. Sure, crypto sort of comes into this bracket, but there's nothing quite like having a lump of shinny stuff in the hand! So SidS, IMO, your $50.00 per oz will definitely be realised and long before 2030. Just my £0.02p worth of course, and I fully accept and appreciate that my view is a tad controversial!

😄

[ant1882]

3 minutes ago, timsk said:

I'm in the camp that believes the current financial crises is - to some extent at least - orchestrated and that the powers that be want either to crash the system or degrade it to such an extent that they can then 'build back better' by ushering in Central Bank Digital Currencies (CBDCs). When that happens, there will be a literal stampede towards PMs, as they'll be the only universal home worldwide where people can store their wealth outside of the financial system. A place where governments and their agencies can't see who has what and where etc. Sure, crypto sort of comes into this bracket, but there's nothing quite like having a lump of shinny stuff in the hand! So SidS, IMO, your $50.00 per oz will definitely be realised and long before 2030. Just my £0.02p worth of course, and I fully accept and appreciate that my view is a tad controversial!

😄

Agree, most people could get their heads around gold & silver... crypto? I doubt it, the only crypto that will be easy to use is the one you want to avoid! CBDC based.

[SidS]

Even though I don't doubt your analysis about the system crash being engineered and an enforced shift to CBDCs.

If PMs are the only way to save wealth outside the system, that system will still be rigged to keep the spot price for these PMs low. The £16 per oz just becomes 16 credits per oz (hyperinflation adjusted) - plus a lot more tracking and reporting on their purchases. They can't track cash purchases, but they'll track your 16 credits which purchase that lump of silver you want.

[SilverJacks]

 

2:35 sums this up

 

Personally, I think whilst PMs might help in the short term, they aren't the answer to the problem. What is the solution? Maybe we all need to stick together, look out for each other, be nice.... Oh dear, WE ARE F'ING F'D

[spookyandroid]

8 minutes ago, SilverJacks said:

 

2:35 sums this up

 

Personally, I think whilst PMs might help in the short term, they aren't the answer to the problem. What is the solution? Maybe we all need to stick together, look out for each other, be nice.... Oh dear, WE ARE F'ING F'D

haha found this aMUSEing.