Reddit #silversqueeze

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

  1. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    I don't know what the poster on Reddit WSS thought about it - I agree with you that the graph does not indicate causation / correlation.
    That said, if his "technical analysis" (a.k.a. "We Are Here") would happen to be onto something by some fluke (as TA tends to be), looks like interesting market moves could ensue.

    I was merely looking at it a bit like NAV -> good times to sell silver comes when spot price shoots above M2; the wait for the next opportune moment can be excruciatingly long.

    What comes to MMT - past results of such experiments speak for themselves. Happy to stop paying taxes any day, though :cool:
     
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  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Good news.
    My daughters silver came from Apmex and they sent 40 2020 Silver Eagles instead of 40 buffalo rounds.
    Theres quite a price difference so shes already ahead!
    The Krugerands and Apmex rounds were correct.
     
  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    That would have been quite a surprise to unbox!
     
  4. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Blasphemy! :p
     
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  5. Azure

    Azure Active Member Silver Stacker

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    The “we are here” arrow really should point to the current date, and not somewhere in the past :confused:

    The assumption that we are in the bear trap stage of a normalised bubble pattern is a flaw because it also suggests rising substantially from this level is bound to result in a crash.

    Say... we made a new crypto who’s coin generation method was to take bitcoin or satoshi into new verifiably secure wallets... encrypting the lot at a harder difficulty to decrypt in work that the current bitcoin mining difficulty, and add to its blockchain along with... provisioning a tradable coin in its own system for the work to encrypt that coin so it can’t be used anymore in the bitcoin system (and providing a kind of mineable resource for bitcoin “At a harder difficulty” some time in the future...

    doesn’t a reduced “available bitcoin supply” along with increased work to recover it (recycling) correlate to a rarer product (pool of bitcoin) by way of fundamentals?

    because, hasn’t that been happening to silver for like... a long long time...?
     
  6. tozak

    tozak Well-Known Member Silver Stacker

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    It's all in the wording, just ask yourself;

    What percentage of Silver is 'owned' and within arms reach of the owner VS Silver that's 'owed' and outside any verification and control of the creditor

    'demanding physical' is a game of, first in, best dressed
     
  7. tdtwedt

    tdtwedt Member Silver Stacker

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  8. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    I liked the "unallocated = gift card" analogy from The Happy Hawaiian.... brutal, though.

    "What you are really holding is a gift card to Perth mint.

    You aren’t a customer, you are an unsecured creditor, just like the holder of any gift card to anywhere.

    This means if the mint defaults and gets tied up in some sort of drawn out legal dilemma you aren’t owed anything. If there is something left over you might get a piece after years of litigation.

    Think about how great a deal gift cards are to companies.

    They get a 0% interest loan, and they get to pay back that loan at some point in the future with merchandise that has been marked up however much they’d like to mark it up.

    The TV store can mark up all of their TVs tomorrow 100% and you still have a gift card that can only be used to their store. What else are you going to do with it? They get a loan collateralized by the marked up value of their inventory, not the actual value."
     
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  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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  10. 66rounds

    66rounds Well-Known Member Silver Stacker

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    There's something fishy about this HappyHawaian bloke. He bashes physical when that's the only real defense we have. If you can't trust Perth Mint then you certainly can't trust PSLV. Yesterday he posted telling people to buy PSLV on margin. Why? So they can attempt to crush the stop losses and get everyone margin called?
     
    Last edited: Apr 16, 2021
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  11. tozak

    tozak Well-Known Member Silver Stacker

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    Peter has been recommending that to his US customers for over a decade, made sense back then for US customers to buy something in a stable country, that's IRA approved, free storage and Government backed. But 100% agree that line of thinking is out-of-date now, he needs to update that but maybe that being said he just can't source the quantity of Silver that large investors want.
     
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  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Let's hate on unallocated but buy a highly concentrated ETF that is basically unallocated with redemption possible for $250k+ USD positions. The cognitive dissonance is real.
     
  13. Azure

    Azure Active Member Silver Stacker

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    To be honest, An actual gift card might even be preferable to an ETF :rolleyes:... At least their a glimmer of hope for redemption of something for those who want to be able to lift the minimum purchase...
    I wonder if they have a product offer for for silver on lay-by? :eek:

    That was supposed to be a joke but do you think their is any requirement to conformance to the regulations in that regard?
    https://www.accc.gov.au/business/treating-customers-fairly/rules-for-lay-by-agreements
     
    Last edited: Apr 16, 2021
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  14. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Courtesy of John Adams telegram channel


    IMG_20210417_191450_013.jpg
     
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  15. heartastack

    heartastack Well-Known Member Silver Stacker

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    Haha, he was plugging Perth mint hard today on his podcast... his topics always give insight into where his major complaints are coming from!
     
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  16. Millennial Engineer

    Millennial Engineer Active Member

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  17. Jason1

    Jason1 Well-Known Member

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    wow most think they are going to get rich on it and set them selves up for life with a piece of land.
    thats not what i expected honestly, I was thinking it would be all, destroy the system at all costs and the diamond dick type shit of WSB.
    they need to change their strategy if they are doing it to make money though.
    but the strong representation of people wanting togo country living, simple life style ideology is good to see
     
    Last edited: Apr 18, 2021
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  18. gsswan

    gsswan Member

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    When I checked out P Schiff's bank they had a "gold backed" debit card, backed by Unallocated at the Perth Mint, too expensive to do this with Allocated.

    After the 60 minutes story PS said Perth Mint does not allow you to own Allocated through another party due to the know your customer requirement, Allocated must be in the name of the client who owns it.

    I know he offers the PM Certificate Program allowing his clients to buy Allocated, Pool Allocated & Unallocated.

    I don't think he should promote Unallocated as ownership but each to his own
     
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  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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  20. BackYardPirate

    BackYardPirate Active Member Silver Stacker

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