So, ive just started stacking....

[GoldDiggerDave]

I've just bought some more silver yesterday, however I have not bought them as an investment or a hedge against inflation, nothing wrong with buying silver if you understand the reasons why.

Can anyone show any data that shows silver being a fanatic hedge against inflation? Or explain how buying and holding silver will somehow protect me from inflation?  

[Happypanda88]

23 hours ago, GoldDiggerDave said:

I've just bought some more silver yesterday, however I have not bought them as an investment or a hedge against inflation, nothing wrong with buying silver if you understand the reasons why.

Can anyone show any data that shows silver being a fanatic hedge against inflation? Or explain how buying and holding silver will somehow protect me from inflation?  

You could broaden your horizon a little and think about other world currencies that aren't one of the major ones i.e USD, EURO, GBP, YEN, CNY etc. And those that aren't pegged to USD.

By observing them, you might be able to see what could be coming to the UK in the near future. History tells us that all fiat currencies will eventually fail and falls to zero. The GBP is no different !

Both Libya and Venezuela were relatively wealthy countries by western standards not so long ago. Their currencies has been hit hard in recent years. Likewise, those currencies I have highlighted below. 

I would say by having some silver, a poor man's gold, could offset against inflation in these countries. It would have been far better off for those holding silver than those with "money" in the bank.

 

 

 

 

 

 

 

[GoldDiggerDave]

@Happypanda88 my horizons are broad enough, and if people want to get sucked into buying silver for the sole reason for “ being a hedge against inflation” then good on them it’s not my money they are losing.   
 

Pointless buying a 1oz round while someone is paying 39.9% Apr servicing their credit card or overdrawn obligations or paying 3% on a mortgage for them next 35 years.  
 

as for the economy collapsing, let’s say it does at 12 o’clock today, just where is someone going to be able to offload their monster boxes of silver and would you really accept the nations fiat currency in that scenario?
 

there are advantages to buying silver, but it will not help you if the worst happens, it’s a moronic view point some silver holders have.

then again if it goes to 10 million quid per Oz we’re are all millionaires everyone is a winner. 

 

 

 

 

 

Edited July 25, 2022 by GoldDiggerDave

[Happypanda88]

6 minutes ago, GoldDiggerDave said:

@Happypanda88 my horizons are broad enough, and if people want to get sucked into buying silver for the sole reason for “ being a hedge against inflation” then good no them it’s not my money they are losing.   
 

Pointless buying a 1oz round while someone is paying 39.9% Apr servicing their credit card or overdrawn obligations or paying 3% on a mortgage for them next 35 years.  
 

as for the economy collapsing, let’s say it does at 12 o’clock lock today, just where is someone going to be able to offload their monster boxes of silver and would you really accept the nations fiat currency in that scenario?
 

there are advantages to buying silver, but it will not help you if the worst happens, it’s a moronic view point some silver holders have.

then again if it goes to 10 million quid per Oz we’re are all millionaires everyone is a winner. 

 

 

 

 

 

I am not one of those saying that silver will make you very rich in a monetary / economic collapse. Nor would I say this about gold.

But both silver and gold are a store of value.  If silver is worthless in the mad max scenario then why would gold be any better.  Silver and gold are money and has been for thousands of years. It is only in the last few decades that they were taken out of circulation by the banksters.

I failed to see who in this thread has a moronic view about silver .....and the view .....if it goes to 10 million quid per Oz we’re are all millionaires everyone is a winner. 🙄🙄span widget

[LemmyMcGregor]

51 minutes ago, GoldDiggerDave said:

then again if it goes to 10 million quid per Oz we’re are all millionaires everyone is a winner.

Let's all be millionaires!

[GoldDiggerDave]

@Happypanda88 silver is not a store of value, and certainly not a store of wealth. Of course this is my own opinion. 

look at the prices over the last 10 years on average silver is worth less now in real terms than a decade ago due to inflation the very thing some people say it protects you against (that is spectacularly moronic) It’s not even moved with inflation over the last decade it’s averaged around £15oz

Most would be better off stacking house bricks over the last 10 years than silver to protect them from inflation. 
 

I’m not against buying silver people need to open their eyes and understand their own reasons for buying silver not because of watching some bozo on you tube. 

 

 

[LemmyMcGregor]

6 minutes ago, GoldDiggerDave said:

@Happypanda88 silver is not a store of value, and certainly not a store of wealth. Of course this is my own opinion. 

look at the prices over the last 10 years on average silver is worth less now in real terms than a decade ago due to inflation the very thing some people say it protects you against (that is spectacularly moronic) It’s not even moved with inflation over the last decade it’s averaged around £15oz

Most would be better off stacking house bricks over the last 10 years than silver to protect them from inflation. 
 

I’m not against buying silver people need to open their eyes and understand their own reasons for buying silver not because of watching some bozo on you tube.

This is spot on why I don't "like" silver, as per my signature: "Gold is stability, Silver is fun", you could rephrase it to Gold is for Stackers and Silver is for Collectors. It is obviously a bland generalisation, but defines the idea.

Of course, there are many purposes to a purchase, I don't like Silver as an edge against inflation because, after reviewing the data from the past few years, it is obvious that Gold has gone up while Silver hasn't. Now, I know that there is market manipulation going on and all the rest, the thing is, I can't hope that one day it will just burst, that is speculation and should be treated as such, meaning that if it's treated as speculation is an investment with risks and not a safe edge.

This is not to talk bad of Silver, it is beautiful and should be looked at for a different scope, which is not to store value against inflation.

Silver is an investment that engages more the collectors rather than the stackers, as such, even in my short time on this forum, I have seen coins go up and others fall without interest, it's a bet, which could safer or less once you become knowledgeable of the market, however, still a bet.

I feel like people get defensive when we say that we don't like Silver for the purpose of storing wealth, we don't dislike it, we just like it for different reasons.

[GoldDiggerDave]

You buy 1oz of silver at todays going rate and I’ll buy the equivalent amount in tins of baked beans, allowing for a good sell/used by date say 3 years see which one protects you against  inflation  the most?

 

 

[Gordy]

4 minutes ago, GoldDiggerDave said:

You buy 1oz of silver at todays going rate and I’ll buy the equivalent amount in tins of baked beans, allowing for a good sell/used by date say 3 years see which one protects you against  inflation  the most?

 

 

Do it then, and post the pictures and we will re-visit this in 2025.... 

[Bigmarc]

3 hours ago, GoldDiggerDave said:

Most would be better off stacking house bricks over the last 10 years than silver to protect them from inflation. 

Currently about 63p per brick and generally sell them by the thousand. But the chart looks good. 

I will make some room on the driveway. Missus won't mind. 

[Bigmarc]

2 hours ago, Gordy said:

Do it then, and post the pictures and we will re-visit this in 2025.... 

I would eat them by the end of the week.

[GoldDiggerDave]

@Bigmarc good to see you mate, I use house bricks as an inflation examples as it wasn’t that long ago they were less than 15p each same ones are £1.50+ per brick, almost every single thing you can buy has out performed silver. 
 

Off the top of my head only thing to keep the same or go cheaper especially in relative terms is booze. 
 

 

 

[Bigmarc]

3 hours ago, GoldDiggerDave said:

@Bigmarc good to see you mate, I use house bricks as an inflation examples as it wasn’t that long ago they were less than 15p each same ones are £1.50+ per brick, almost every single thing you can buy has out performed silver. 
 

Off the top of my head only thing to keep the same or go cheaper especially in relative terms is booze. 
 

 

 

I know mate, only playing. 

I suppose I have been lucky in the fact that I have made money from silver and have managed to grow what I have accumulated but my expectations have never been high financially which may have helped. I do hold gold but unfortunately have no love for it, maybe because gold only represents value with little use case, it basically only fluctuates depending on how many rich people want it. 

I suppose silver is a little hope, those who bought in 2019 would have made a fair bit on the silver squeeze phenomenon. Silver to me is probably the only thing in my house I have to my self (kids, missus and mates not interested). I get enjoyment of holding something real, a bit of history, dug from the earth buy man (or woman) and crafted by man (or woman). I have to admit I am not currently buying and will start again when a recession is called officially. The charts and history all prove that it's the underdog and that is probably its main selling point but as long as you don't throw all your money into it , it can be treated as a hobby that may make you a bit of money at some point. 

There are moon boys (and girls) in everything, trust me I have been learning the crypto world but as a whole they are a small percentage of the community that think the lights are going to go out tomorrow. Take it with a pinch of salt I say. One thing I will say is what I have learnt over the last couple of years is no one can predict tops, bottoms, COVID, war and governments printing money so just play the game with your own eyes rather than "influencer's". 

Any how, off to buy some beans and bricks now. 

Silver to the moon 🚀🚀🚀🚀

[Happypanda88]

19 hours ago, GoldDiggerDave said:

silver is not a store of value, and certainly not a store of wealth. Of course this is my own opinion. 

This is debatable, I get that. But I rather not spent too much time on this thread. It would be great if we have stackers from Argentina, Turkey or other countries I posted above where their currencies have gone belly up and get their view on whether silver is a store of value for them.

 

19 hours ago, GoldDiggerDave said:

look at the prices over the last 10 years on average silver is worth less now in real terms than a decade ago due to inflation the very thing some people say it protects you against (that is spectacularly moronic) It’s not even moved with inflation over the last decade it’s averaged around £15oz

You keep mentioning the performance in GBP terms over 10 years,  I would rather prefer to have a wider view measuring silver against other currencies. Besides, not everyone on TSF uses GBP as their every day currency. I for one do not ! 

 

19 hours ago, GoldDiggerDave said:

I’m not against buying silver people need to open their eyes and understand their own reasons for buying silver not because of watching some bozo on you tube. 

I show 3 lines of my spreadsheet, a stack that I use to have before my tragic boating accident.  I had a stack of AU too but again sadly lost them as well. I think I should really be more careful. 🙄

I think you shouldn't be overly concern about people buying silver. People choose to do so at their expense. They can only learn from experience. 

So finally,  who has been watching some bozo on YT that needs to open their eyes and understand their own reasons for buying silver then !?  😎

[GoldDiggerDave]

Good to see you again,  the comment about bozo's on YT is where most people get their information  

 

11 minutes ago, Happypanda88 said:

I think you shouldn't be overly concern about people buying silver. People choose to do so at their expense. They can only learn from experience.

I don't like to see people get ripped off, suppose it's a question of individual morality some have less than others.  There is so much bad information out there is good we have a platform here where people can be open and honest about possible financial decisions people make.  

I'm still waiting to see if anyone can show the fact that silver is a hedge against inflation when it is not keeping up with inflation the very thing its supposed to protect you against.

In your opinion is buying silver in the UK with GBP and selling in GBP a hedge against inflation?    

 

[Happypanda88]

2 hours ago, GoldDiggerDave said:

In your opinion is buying silver in the UK with GBP and selling in GBP a hedge against inflation?    

Judging by your line of question, you obviously believe the answer is no !

In my view, it depends where and when collectors purchased their silver.  Those who bought the dip from EU in 2014-2016 would have done well. Also those who bought from the EU before Brexit. But if those didn't know about sourcing from EU (therefore little or no VAT to pay) and bought in the UK with high dealer's premium and 20% VAT on top, then the answer is probably not at the point in time !

But no one has a crystal ball that can tell exactly what the price will be in 5 or 10 years time. Furthermore, with high fuel cost, miners aren't going to keep selling silver at a loss. 

There is already a disconnect between the paper price and physical. Even with paper spot price currently at £15.50 per oz, you will be hard pressed to find anything near this price anywhere in the UK. On TSF, the lowest I've seen is £21. 

Now, my question to you:

Do you think there is market manipulation in the price of silver ? 

If so, should the market manipulation of silver breaks, will there be genuine price discovery within the silver market based on real physical demand and supply forces, will the price of an ounce of silver expressed in USD, GBP, EURO etc  be significantly higher ?

 

 

[GoldDiggerDave]

3 minutes ago, Happypanda88 said:

Judging by your line of question, you obviously believe the answer is no !

In my view, it depends where and when collectors purchased their silver.  Those who bought the dip from EU in 2014-2016 would have done well. Also those who bought from the EU before Brexit. But if those didn't know about sourcing from EU (therefore little or no VAT to pay) and bought in the UK with high dealer's premium and 20% VAT on top, then the answer is probably not at the point in time !

But no one has a crystal ball that can tell exactly what the price will be in 5 or 10 years time. Furthermore, with high fuel cost, miners aren't going to keep selling silver at a loss. 

There is already a disconnect between the paper price and physical. Even with paper spot price currently at £15.50 per oz, you will be hard pressed to find anything near this price anywhere in the UK. On TSF, the lowest I've seen is £21. 

Now, my question to you:

Do you think there is market manipulation in the price of silver ? 

If so, should the market manipulation of silver breaks, will there be genuine price discovery within the silver market based on real physical demand and supply forces, will the price of an ounce of silver expressed in USD, GBP, EURO etc  be significantly higher ?

 

 

Totally mate 100% the silver market is manipulated, it’s the last bastion of the silver stackers defence. 
 

 

[Bigmarc]

23 minutes ago, GoldDiggerDave said:

Totally mate 100% the silver market is manipulated, it’s the last bastion of the silver stackers defence. 
 

 

Don't forget historically the gold silver ratio was 15 to 1. That one is a favourite of mine. 

 

[LemmyMcGregor]

And when it hits the fan you'll need Silver to trade for bread.

Also, in case it wasn't enough when I said it the first time:

23 hours ago, LemmyMcGregor said:

Of course, there are many purposes to a purchase, I don't like Silver as an edge against inflation because, after reviewing the data from the past few years, it is obvious that Gold has gone up while Silver hasn't. Now, I know that there is market manipulation going on and all the rest, the thing is, I can't hope that one day it will just burst, that is speculation and should be treated as such, meaning that if it's treated as speculation is an investment with risks and not a safe edge.

|In other words, I've got balls but they're not made of crystal.

Edited July 26, 2022 by LemmyMcGregor

[AaaGee]

As for silver there is a positive.

Im heading towards 50 now and never been good at saving money.

If i were to put 2.5k a year for the next 15 years on silver i would have what owes me £37.500 

Fingers crossed, at worst its still worth what it owes me. Sell it all and bank 37.k 

Surely its worth it?

This is hoping that i can afford to put 2 5k in yearly. Maybe some years more, some years less.

[LemmyMcGregor]

On 25/07/2022 at 11:42, GoldDiggerDave said:

You buy 1oz of silver at todays going rate and I’ll buy the equivalent amount in tins of baked beans, allowing for a good sell/used by date say 3 years see which one protects you against  inflation  the most?

I am tempted to do it for a laugh, I don't really do beans though and I wouldn't want to stock more of them, I still have kicking about some left over by an old lodger that moved out last year, what if I do it with Spam or equivalent?

Been tempted to stock on some canned items for a while anyway, could open a thread, get a coin and the equivalent in meat, then maybe every other month or whenever I have some spare change add to it and update with the latest values of both meat and silver stack.

PS. fancy trading those extra tin of beans for some silver? 🤠

[Bigmarc]

3 minutes ago, LemmyMcGregor said:

I am tempted to do it for a laugh, I don't really do beans though and I wouldn't want to stock more of them, I still have kicking about some left over by an old lodger that moved out last year, what if I do it with Spam or equivalent?

Been tempted to stock on some canned items for a while anyway, could open a thread, get a coin and the equivalent in meat, then maybe every other month or whenever I have some spare change add to it and update with the latest values of both meat and silver stack.

PS. fancy trading those extra tin of beans for some silver? 🤠

No one would buy a 3 year old tin of beans and I am amazed that people still buy spam. 

[LemmyMcGregor]

11 minutes ago, Bigmarc said:

No one would buy a 3 year old tin of beans and I am amazed that people still buy spam. 

Normally I buy all fresh food and for long term storage I make my own pemmican, there are some canned products without sugar and other funny additives to be found though, I wouldn't rely on them, but I wouldn't mind differentiating the long term food, canned food anyway is proven to last nearly indefintely.

As for the beans, you are correct that nobody would buy them, however, they still have value which can be returned by consuming them.

[Bigmarc]

1 hour ago, LemmyMcGregor said:

Normally I buy all fresh food and for long term storage I make my own pemmican, there are some canned products without sugar and other funny additives to be found though, I wouldn't rely on them, but I wouldn't mind differentiating the long term food, canned food anyway is proven to last nearly indefintely.

As for the beans, you are correct that nobody would buy them, however, they still have value which can be returned by consuming them

I am just saying if you are going to do an experiment and compare with silver, I would buy something that sells well on the second hand market now. Like batteries, drill bits or lighters. 

[Scootermuppet]

2 hours ago, Bigmarc said:

No one would buy a 3 year old tin of beans and I am amazed that people still buy spam. 

That depends….