Wallstreetbets eye up SLV

[Spark268]

i understand that point - however the silver price refers to the Good London delivery bars i.e. for a bullion bar that is 99.9% pure silver.  This includes any refining costs.

if you can get a hold of a bar at that price, plus VAT and shipping & handling costs, you deserve a medal!!

As for the value of silver, the argument is pretty simple:

If you have a simple economy with 100 tonnes of silver, and 200 tonnes of apples. Each oz of silver is worth two applies. 

If for whatever reason, the number of the applies in the economy is increased, by say a factor of ten. Then that same Oz of silver is worth twenty apples. Ergo ipso.

In this same economy, if you introduce silver ETFs, future, options etc etc, you might be able to supress the apple price of silver for a period of time, as you soak up excess apples by diverting the demand to paper instead of actual silver. Pretty soon though the man on the street will notice the abundance of apples to actual silver.

With QE and what not, that's exactly what has happened in the real world.

Edited February 7, 2021 by Spark268

[Minimalist]

4 hours ago, HawkHybrid said:

those who claim silver is worth $1k/toz in the near future should put their money where their mouth is

HH, you know and I know that these figures being thrown about are predicated on a Gold/Silver standard - a new metals monetary system.

[HawkHybrid]

25 minutes ago, Spark268 said:

If you have a simple economy with 100 tonnes of silver, and 200 tonnes of apples. Each oz of silver is worth two applies.

 

 wrong. silver is not money anymore. silver is just another commodity.

same as you wouldn't say that 100 barrels of oil, 200 apples, each barrel of oil is worth 2 apples.

 

HH

Edited February 7, 2021 by HawkHybrid

[HawkHybrid]

6 minutes ago, Minimalist said:

HH, you know and I know that these figures being thrown about are predicated on a Gold/Silver standard - a new metals monetary system.

 

why would anyone not worth their integrity be worth your time?

those people should either put up or shut up.

 

anyone who believes there is a realistic chance of a gold standard(metals monetary system) have not done

the global maths. 

 

HH

Edited February 7, 2021 by HawkHybrid

[Minimalist]

5 hours ago, SilverJacks said:

Fair point. With some claiming it’s true value at $1k, what would that mean for Fiat currency? Idk but the way the world is printing the stuff, they seem ready for the next stage, whatever that many be...

Like I stated to HH. $1k would happen in two scenarios. Hyperinflation and a new metals monetary system.

Because the dollar is mostly credited around the globe, countries need to stop using they dollars in oil transactions and stop producing stuff for the US for dollars. If this happens its possible $1k can happen. Russia, China, Iran and North Korea arent adhering to the petrodollar system. The described "axis of evil" from Bush has the general population believing in fable enemies - a cult of schizophrenia hating these countries because the Banking and Oil elite dont want their monopoly destroyed.

[Spark268]

Hawk: what are you talking about?

Calling silver money or a commodity does not alter the laws of supply and demand.

Edited February 7, 2021 by Spark268

[Minimalist]

5 minutes ago, HawkHybrid said:

why would anyone not worth their integrity be worth your time?

those people should either put up or shut up.

Its all well saying that, HH. I think logically most people would love to see a Gold standard emerge or a deflationary type system. Be under no illusions, it all comes to being aware of this fiat system and fully understanding it to initiate change. But the truth is most people are retarded.

[HawkHybrid]

1 minute ago, Spark268 said:

what are you talking about?

Calling silver money or a commodity does not alter the laws of supply and demand.

 

100 barrels of oil, 200 apples, does that make each barrel of oil worth 2 apples?

there is a big difference between a commodity and money.

 

HH

[Spark268]

6 minutes ago, HawkHybrid said:

 

100 barrels of oil, 200 apples, does that make each barrel of oil worth 2 apples?

there is a big difference between a commodity and money.

 

HH

if nothing else existed, and no oil wells & apple trees (i.e. no further production), yes it would.

These days, money does seem to grow on trees, like applies do

[HawkHybrid]

4 minutes ago, Minimalist said:

Its all well saying that, HH. I think logically most people would love to see a Gold standard emerge or a deflationary type system. Be under no illusions, it all comes to being aware of this fiat system and fully understanding it to initiate change. But the truth is most people are retarded.

 

zimbabwe went onto a gold to replace currency when the zimbabwe dollar failed. then they went on to

use the us dollar as payment for trade. are we calling zimbabwe as a whole are retarded?

'war is delightful to those who have no experience of it.' desiderius erasmus.

is the gold standard the miracle that fixes all of the monetary systems problems, or is it another system

that has been tried before that has it's own set of pros and cons?

 

HH

[Minimalist]

2 minutes ago, HawkHybrid said:

zimbabwe went onto a gold to replace currency when the zimbabwe dollar failed. then they went on to

use the us dollar as payment for trade. are we calling zimbabwe as a whole are retarded?

They never went into a Gold standard. Show me where the zimbabwe government adopted the gold standard.

[HawkHybrid]

2 minutes ago, Spark268 said:

if nothing else existed, and no oil wells & apple trees (i.e. no further production), yes it would.

These days, money does seem to grow on trees, like applies do

 

that's not where value comes from. value partly comes from utility.

what about if there was 100 pears and 2000 apples?

would a pear be worth 20 apples? what if 1 pear has the same nutrients as food as an apple?

 

HH

[Spark268]

5 minutes ago, HawkHybrid said:

 

that's not where value comes from. value partly comes from utility.

what about if there was 100 pears and 2000 apples?

would a pear be worth 20 apples? what if 1 pear has the same nutrients as food as an apple?

 

HH

 

what if there only donkeys and bananas....just where are you going with your line of argument?

[Drawga]

7 minutes ago, HawkHybrid said:

 

that's not where value comes from. value partly comes from utility.

what about if there was 100 pears and 2000 apples?

would a pear be worth 20 apples? what if 1 pear has the same nutrients as food as an apple?

 

HH

 

[HawkHybrid]

15 minutes ago, Minimalist said:

They never went into a Gold standard. Show me where the zimbabwe government adopted the gold standard.

 

https://www.theguardian.com/world/video/2009/feb/11/zimbabwe-gold-panning-starvation-food

 

panning gold as payment for bread. trading without currency?

 

HH

[Minimalist]

Just now, HawkHybrid said:

panning gold as payment for bread. trading without currency?

You failed to answer my question, instead you resorted to citizens panning for gold. So, ill ask you again, show me where the Zimbabwe government adopted the Gold Standard policy after they printed trillions of Z dollars.

[HawkHybrid]

10 minutes ago, Spark268 said:

 

what if there only donkeys and bananas....just where are you going with your line of argument?

 

it's not simple like you are claiming it is.

you haven't said whether a pear is worth one apple(valued on nutritional value)?

or, a pear is worth 20 apples(based on arbitrary production level)?

 

HH

[HawkHybrid]

9 minutes ago, Minimalist said:

You failed to answer my question, instead you resorted to citizens panning for gold. So, ill ask you again, show me where the Zimbabwe government adopted the Gold Standard policy after they printed trillions of Z dollars.

 

zimbabwe government has not adopted the gold standard(something you brought up).

this is irrelevant however, as zimbabweans were using panned gold as payment for bread

(they are not using fiat currency) which is what I said. the point being they moved from

currency to no longer using currency, then they moved back to using currency. are they all

retards by moving back to using fiat currency?

please don't mis-read what I post and then claim that I'm wrong because you mis-read the post.

 

HH

Edited February 7, 2021 by HawkHybrid

[Spark268]

this is just getting silly.

So far, Mr Hawk is suggesting money should be measured by its calorific value, and initially suggested that Zimbabwe had gone the whole hog and adopted a gold standard, because someone there panned for gold and bought bread with it. 

[Minimalist]

9 minutes ago, HawkHybrid said:

zimbabwe government has not adopted the gold standard.

Thank you. Point proven.

[HawkHybrid]

1 minute ago, Minimalist said:

Thank you. Point proven.

missing the point I made completely, made up what you thought I said and claim that you are right.

gee, really?

 

HH

[HawkHybrid]

9 minutes ago, Spark268 said:

this is just getting silly.

So far, Mr Hawk is suggesting money should be measured by its calorific value, and initially suggested that Zimbabwe had gone the whole hog and adopted a gold standard, because someone there panned for gold and bought bread with it. 

 

I was trying to show you how the value of money differs from the value of a commodity.

as it stands, silver is just another commodity as it has lost it's money status.

 

HH

Edited February 7, 2021 by HawkHybrid

[Spark268]

money isn't a binary classification.

Everything is money, just take a look in any barter economy. Things are degrees of money i.e. its a scale, based on Store of Value, Recognisable, Portable etc.

In practice, no one, not even Phd's in economists know exactly what money is, and multiple definitions exist.

That would partly explain why we have so many different estimates of gold and silver's true worth.

[MrTT]

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts.

[HawkHybrid]

1 hour ago, Spark268 said:

money isn't a binary classification.

Everything is money, just take a look in any barter economy. Things are degrees of money i.e. its a scale, based on Store of Value, Recognisable, Portable etc.

In practice, no one, not even Phd's in economists know exactly what money is, and multiple definitions exist.

That would partly explain why we have so many different estimates of gold and silver's true worth.

 

bartering is trading without the use of money. it's a straight swap, not requiring a medium of

exchange to facilitate the trade. not everything is money.

 

HH