Reddit #silversqueeze

Discussion in 'Silver' started by AustralianAustrian, Jan 31, 2021.

  1. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Maybe.
    But timing the market is also not part of the stacker rhetoric (just keep stacking), so that is definitely not it.
    I made a profit, but to keep holding and hoping in an asset that has been flat for a decade is the definition of poor investment.
    Lucky for me my exit was perfectly timed, as that silver money has 7+bagged in 18 months.
     
  2. STKR

    STKR Well-Known Member Silver Stacker

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    "Past performance is not a reliable indicator of future performance"

    Stacking is the next step up from holding cash, and cash is the next step up from holding digits in a bank. Stacking offers a level of security that few other asset's posses. Given the climate we're in, I couldn't think of a better vessel to secure my savings.

    Not everyone is into PMs for the incredible investment opportunity, even if it boasts some great potential. PMs have proven to be an excellent way to save money for me.

    My investment vessel is my business. Sometimes the best investments are into your lifestyle, the time you spend with friends and family and the things that give your life purpose. For that, I make a 7 bagger every day.
     
  3. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Agree.
    That's why I packed up with my family and moved to live where I do.
     
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  4. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    I’ve encouraged my family to pack up and move from where I live. :p
     
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  5. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I've tried that with my kids, but they just keep bringing additional members home. :confused:
     
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  6. Millennial Engineer

    Millennial Engineer Active Member

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    Some posting which i had seen today. Of most impressive Stacks and memes. 34k Members there now.
    Some 20210225 1.jpg
    20210225 2.jpg 20210225 3.jpg 20210225 4.jpg Harambe.jpg Wario.jpg

    Best Video Meme I have seen so far. Spoilers for Mandalorian.

     
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  7. heartastack

    heartastack Well-Known Member Silver Stacker

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    That reddit has gone super culty. It’s quite hilarious but reckless as hell.
     
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  8. Fugue

    Fugue New Member

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    Logged in to Perth Mint depository account. Can't buy or convert to any allocated silver at all. Looks like the place has been cleaned out.
     
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  9. STKR

    STKR Well-Known Member Silver Stacker

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    IT BEGINS!! :D
     
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  10. Fugue

    Fugue New Member

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    Checked again tonight. 1 10oz bar and 9 1kilo bars available.
     
  11. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Careful what you assume:


    Dear Depositor,

    Last week I contacted you regarding upcoming scheduled maintenance on The Perth Mint Depository Online (DOL) platforms and The Perth Mint websites.

    I am writing to remind you that the shutdown is scheduled to commence this coming Friday 26 February from 5.00pm until 7:30am Monday 1 March 2021.

    This system maintenance will impact all DOL accounts, with access to services including login, buy/sell trades, limit orders, fund deposits or withdrawals, and freight and collection requests unavailable until 7:30am AWST on Monday 1 March.

    ......
    Manager Depository
    The Perth Mint
     
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  12. Fugue

    Fugue New Member

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    I checked on the morning of the 26th. I am not assuming anything. All I have is the impression that they are low on products. And is that surprising when 10oz bars are being sold on ebay for $450+ plus postage and Perth mint selling 10oz for $40 above spot? I think it is clear that there is a disconnect between spot and the real price of silver.

    I also can't believe that what is pushing people to buy crypto right now is not doing the same for silver. Yet, silver is still holding steady, the wallstreetbets spike excluded.
     
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  13. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Your assumptions are backed by conversations with multiple dealers that rely on Perth Mint Depository for hedging/wholesale etc. The pickings are getting slim like March last year, however the wait time is going to be longer as it is not a shipping/manufacturing issue. Most stock currently being sent overseas.
     
  14. AustralianAustrian

    AustralianAustrian Active Member

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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    marc faber's opinion on silver squeeze in the video taken early feb. quite an interesting take. i saw this about 2 weeks ago, didn't think of it much but now it appears to be coming true?

     
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  16. doomsday surprise

    doomsday surprise Active Member Silver Stacker

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  17. heartastack

    heartastack Well-Known Member Silver Stacker

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    I can see them doing some damage
     
  18. Millennial Engineer

    Millennial Engineer Active Member

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    Had a Conversation with the Swan Bullion Dealer in Maddington, Perth suburb lower social ecconomic background compared to where the Perth mint was, on Thursday. They said they were pretty low on all Stock and there was large foot demand for physical but they were not out of it. I bought some 1 ounce coins. And it was hard to get new stock in, Perth Mint included. And they weren't relying on the Perth mint to deliver their March order on time.

    One thing which they did raise was even as a dealer when they imported from other mints from around the World Customs were giving them a hard time trying to charge GST on the product.
     
  19. Millennial Engineer

    Millennial Engineer Active Member

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    Its stayed on topic and not let politics other Bipartisan/ divide and conquer issues infiltrate it diverting attention from it's original goal.

    I guess Reddit is full of Mellanials and the alogrithms work differently there would affect the people's behaviour on the board (up vote seeking) compared to our board.

    Now I don't know how many there, now 36.5k (of varying information level) believe that their combined efforts would be enough to achieve the silver squeeze in the near future.

    But I think most know that putting their savings/value into silver is a lot better bet than keeping it in the bank paying interest, especially against the perceived inflation.
    And happy to show their results in doing so to encourage/ visually encourage others. (even though tagging their holding to the account).
     
  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    36.5k is a drop in the bucket. But slow and gradual rise is better as the supply of bullion cannot meet a big surge in demand, and it will end up with the retailers ripping all the new comers with ridiculous premiums. Unlike stonks and cryptos and other fiats, silver cannot be "printed". Stonks can split a hundred times, like Elon did with Tesla, print unlimited shares, bitcoins can go down to 0.00000001 btc and then call it satoshi, but silver is real it can't be printed like that.

    I'm still hoping for a drop back to $22-23 so I can get another bar. :D
     
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