Discussion in 'Questions & Comments' started by Ilovesilver, Dec 4, 2018.
What happend to the bullion barron. He usee to post all the time on this site?
He got a full time job unlike the rest of us He got absorbed by the system and that system doesn't like people on sites like this.
Still does, but less frequently.
He changed to his alter, real persona.
He's active on Twitter under his real name now:
Ahh thanks that makes sense now
The sentiment for physical silver is very bad. Last couple of weeks, I saw people on Reddit selling silver at spot price inclusive of postage.
Here's a 1974 article on NYtimes which says Engelhard is selling physical silver for $5.70/oz. Today's silver spot is barely 2.5 times of the 1974 physical price.
Hey, don't you know that JP Morgan and the paper market are holding down the price of silver and that it's about to EXPLODE at any moment?
...I see this all the time in stocks: people complaining just a month or two after they buy or after the IPO that the stock "should have gone up by now." With silver, though, I find it hilarious that a few years of sideways charts have many people disappointed. They obviously never looked at the long term graphs. Silver - and gold - just had a huge bull market (aka price jump to correct for inflation of paper currency supply) less than 10 years ago in the early 2010s, and it had another one right before that time in most of the 2000s. Yes, paper money is printed every day, but silver and gold only correct periodically... not in real time.
Foolish people are always looking for that lottery ticket they can buy today and cash in tomorrow, though. It's a losing forumula (both financially and psychologically). I understand that it is how people get views on their blogs or YouTube, though. "Nobody knows anything" in markets, so I try to take everything with a huge grain of salt.
Considering the metals can (and did!) commonly go decades without much price change, I don't see why anyone is expecting a bull market anytime soon. Until that price rise time has clearly arrived, I consider it a fine time to be buying, though. I'm ok (and not at all surprised) if silver stays $12-18 per ounce until 2030. I doubt it will be that long, but it's very possible. I will keep buying all along since you never know when the metals might jump next due to inflation correction or other factors (at which time I will probably unload half or more of my stack, depending on the size of the jump). Anyone claiming to know that timeline is full of it, though. The only thing that would really surprise me would be if the silver 1oz rounds drop below approx. production cost of roughly $12USD, since we would then know production cost must be cheaper than that.
The metals are clearly best viewed as a wealth preserver with long term stability and sell-in-case-of-emergency quality... certainly not a quick capital gainer (and not really a very long term gainer either, due to no dividend). I basically view the metal stack as a renewing CD account.... which is diversified in all world currencies... and much more fun to hold
he rage quit and deleted all posts after the price of his top pick crypto iota tanked.
Reached my stacking goals some years ago, so now rarely buying (or selling).
Started to run out of new things to learn or write about about precious metals.
The precious metals bear market has reduced the number of interesting opinions and discussions here to participate in.
Less regular users mean trolls or those embittered by the bear market (in PMs/crypto) become more prevalent and look for others to attack to distract from their own failings (making the forum less pleasant to engage in).
Time now taken up by more productive pursuits.
That said I still check in regularly and post occasionally.
you should have kept your posts in the iota thread at least, would be a great time to revisit. https://www.newsbtc.com/2018/12/03/...s-centralized-single-point-of-failure-exists/
Lol, in @Bullion Baron Speak a "Troll" is someone who disagrees with him. They make good targets to chuck dummies at apparently.
Edit to add: this thread is in the wrong sub-forum.
There are not many investment in this world has a floor to it. Even real estate can drop to almost free.
No. It would simply mean that it is selling at a loss.
On October 14, 2014, First Majestic announced that it had produced 3.5 million ounce of silver in the third quarter and that it was postponing the sale of 934,000 ounce of silver inventory.
later they sold at a loss
They are already selling at a loss since their cost is $15/oz.
Assuming it is govt silver bullion with a face value on it, that face value is your floor. I hope it never gets there and see no reason why it would.
Still, assuming price and liquidity and other factors are roughly equal, face value does make maples and brits more attractive to me than most other govt bullion.
...You are right that generic metals could theoretically go to zero if there was no industrial or collector or etc demand for them. That hasn't happened to gold and silver in modern human history, though. The only thing I could see ever doing that would be a hugely increased supply from under sea, asteroids, etc... more likely for platinum or some other metals than for gold and silver (based on limited asteroid sampling). Also, in addition to finding a huge new supply, it would also take a low-cost way to mine that new supply (very unlikely in our lifetime).
Significant amount of silver is mined as a byproduct, so cost of mining silver is nil, Ie a profitable copper mine will mine silver at nil value. The only cost is few cents for refining*
Miners (companies and pundits) who say that cost of mining of silver is above $15 dollars today, has a history of say8ng cost of mining is ALWAYS few dollars more that spot (this kind of stupidity is tolerated by gold and silver consumers and major media organisations be it bloomberg/CNN or twilight zone press like zerohedge) look them up.
If spot was $10 they say $12
If spot was $7 they say $9
If spot was $17 they say $19
*Bearing in mind that a refiner buys at spot from mines and sells to mints for less than a dollar more.
Much like cost of mining bitcoin was $6000 US last month this month many in the crypto media is talking $4000 last week.... next week?
Separate names with a comma.