My nationality is ubiquitous and I live in several countries. I am not American. If you have never filled in a W8ben it is highly unlikely you have ever traded US stocks on the Dow, S&P, Nasdaq or certain ETFs or understand US withholding tax. If you have you should look it up as a mater of urgency. Good night.
This is my first post on here. I started buying Scotia Bank 10z bars 2 months ago and have $2000CDN so far and it's the first time I have saved real money. From a new point of view $16 US / oz seems like a insane bargain and I have a feeling one day (like all those 70yr old guys now) we will say man it was so cheap now it's 100x that... I hear that all the time regarding gold.
This thread is a little of a year old, and I posted comments similar to this up to two years earlier. I think this sub $21 spot has given many stackers the opportunity to accumulate. Many stacks appear to have consolidated also, with stackers whittling down their range of coins and bars whilst increasing the count. During this flipping period, most trades have had a constant differential. I sense we are on the cusp of a breakout and I will feel hard done by if it is sooner rather than later. This because I think spot may increase three or fourfold and I would feel cheated buying fifties at $35 each when at the moment I'm happily buying them at $8. However, this golden time must end so when too much silver is hardly enough, I will be robbing Paul to pay Peter (for silver).
is that a new quote for my signature Sammy? Why must it end? 80% of silver is mined as a byproduct and even the mines that are primary silver mines the majority of them still have a cost below the current spot price. there is nothing to pressure prices up. anyone buying silver currently is a FOOL there are far far better investments to be had currently. For example I have made a killing over the last few months selling hail damaged cars that were damaged in the hail storms in Brisbane late last year.
If you are waiting for a bull market in PM to resume you have learned nothing from the last 3 years of intense manipulation of all markets. There are no markets and no bull runs. The markets are dead and all prices are now controlled by forces intent at suppressing PM, elevating stocks and big corporations (inc Banks). So you are crazy to expect a resumption in a bull market or for that matter a bear market in PM. Gold at $800 not going to happen nor Gold at $1500 with the cartel at the helm. They learned from the last big smash that physical demand can wreck their plans so prices will not collapse while they control the pricing. The next major move in PM will be a revaluation/re-pricing not a bull market. That will only occur when the printers and currency counterfeiters lose their grip. That will be a sudden unpredictable event that is inevitable as day follows night.
Back to my hypothetical example of GSR swaps... Although the markets ARE clearly controlled and probably always have been... we have to look for opportunities of holding the stuff we know is valuable and make additional gains. I see GSR swaps as one of those opportunities. The idea is to know what's wrong position yourself and take something off the table as a precautionary measure, "insurance" if you will. Using your insurance to get more insurance freely is something that may be useful to some.
Considering the general prices trend (not special, just the continued trend slope of before) and the extra amount Moz stored since 2004 by exchanges and ETFs and stackers, I don't see much reason for $20, and not even $15. I expect/hope for $10-$13. $13 is my next euro > silver swap, but only if euro sits at least on the average of its fluctuation of the past decade, the higher the better.
Yes, it's a golden opportunity, but there'll be people bitterly bitching about manipulation while missing entirely the point of stacking.
Hey there House of Commons. I also started buying Scotia Bank bars from them, but then, I noticed the service charges were far greater than just going to my local coin shop and buying tubes of Maple Leaf 1oz coins. I also read that if you buy a coin under $1,000 in value, and sell it for under $1,000 in the future, you do not have to declare capital gains on it. Not so for the bars. So that's why I'm accumulating silver coins. Unlike a 1oz gold coin that is above $1,000.
...and, let's not forget: in order for silver to skyrocket, a powerful force would be required. Frenetic buying frenzy, high industrial demand and low supply or financial-economic crisis or... severe depletion of silver (due to rarity and high demand, the price would rise).
