Has this not been your experience when selling PMs? From scrap, to bullion, to nuggets I've pulled from the Earth I've always been able to take it into any coin shop and get spot at that exact moment.
Exactly! That is my experience too. I was responding to mmissinglink who seems to be arguing that precious metals are not wealth, they are just chunks of metal, and therefore not a store of value. But then, isn't that true of all wealth? They can, which was the point. As non-USD fiat hyperinflates, metals retain value independent of the currency. What forms of wealth ever offer a 100% liquidity guarantee?
Oh ok. I've always thought of wealth as just having an abundance of resources. In war that could be a bottle of clean water. In the 1st world its bits of PMs Since I believe wealth is relative to situation there's no resource that has a guarantee except for your physical health as it relates to your ability to perform labor. I started a thread a while ago about the EMDrive which is an engine that doesn't run of a propellant. It defies the laws of physics. However it works. I remember randomly seeing a thread here about a 3D printing company trying to get into the bullion game. Couple that with the EMDrive technology (once perfected) you could literally print gold all day for pennies in electricity costs. We're already manipulating chlorine atoms to produce a hard drive the size of a thumb drive with the capability to store half of all the data that makes up the internet.
1) Dealers don't have to buy any metal from anyone at any time they don't want to. I have heard (more than once) dealers turning away people who have actual silver bullion they want to sell. This is why the alleged "store of wealth" argument doesn't necessarily fly. After all, what is wealth about a plunk of metal that not even metal dealers are very interested in? Also, you seem to be forgetting the obvious: "store of wealth" most reasonably means that the value doesn't diminish. Since the value of silver can and does fluctuate all the time, there are going to be at least as much of a chance that plunks of silver don't act as a "store of wealth" as there are moments when it will. 2) To claim that silver takes on its alleged role of a "store of wealth" when non-USD hyperinflates, is really a poor argument for a "store of wealth" 3) No form of wealth that I know of is 100% liquid all the time....except for cash (in general). Does that mean that cash is a good "store of wealth"? It depends, but not necessarily. 4) Diamond hustlers claim that diamonds are a store of wealth....want some chocolate with your diamonds? 5) What if new technology revealed a new source of vast amounts of silver that with other new technology allowed it to be easily unearthed and as a consequence the value of silver denominated in your currency drops 75% and stays there for the next 50 years....is a plunk of silver then a good "store of wealth" for you there? .
mmissinglink, tearing apart arguments for silver possession, page after page, then at last reveal your own reasons for possession = And I quote, "That said, I stack silver because faith in old traditions (by certain groups of people) dies hard. And as a result of such beliefs, certain things retain certain value" Bah... Show me your empirical evidence (no silly anecdotes here, please!) of these certain groups of people who have a faith in silver. What's to say their faith in silver doesn't just revert, while the Fed keeps kicking the can down the road. You'll be in the same shit as the rest of us. Anyway, regardless of your reasons, we're all still in the game. The thing that separates us all is our timing.
I wonder if it is the same old tradition where 30 pieces of silver is enough to set up a dude for assassination?
Nothing has value, except a good mate! And a beer. Oh, sorry, wrong! Pussy has value! Hence the oldest profession and why women will always have a leg-up when it comes to survival. And that's the end of that!
All you need to do is look at the countless comments in this forum where many stackers argue that plunks of silver are and always will be money (and all the other arguments that are based on old traditions) for the clear empirical evidence that corroborates that claim I made. As for whether or not I'll "be in the same shit as the rest of us", yes, of course I am....I never argued that I am not susceptible to the same forces of socio-economics or politics gone awry or whatever it is that throws a monkey wrench into our efforts to live freely and prosper and do whatever it is we do in our lives. That's why my tag reads "In some ways, we are not that different"....for that very reason that I am basically in the same game (shit) as the rest. What lots of stackers don't like about me is that I challenge long standing, often logic-lacking assumptions and presumptions that many stackers hold. This is their deficit, not mine. .
Yes, many people argue that silver and gold are money. They WERE money. Now they're traded commodities susceptible to market whims (and Deutsche Bank scum *fluffin* around with the silver market as though it were a game). One of the best historical arguments you could make is that when economies slump or crash, PMs temporarily follow until a stream flow to them as they realise they want protection. It's a collective belief that PMs will protect that drive prices higher - which is the same reason why faith in fiat keeps it worth more than the plastic/paper that it's printed on. The difference is that PMs are rarer (until new resources are found) and particularly silver have industrial applications that are driving supply lower. For those lucky enough to have enough money to distribute into a range of assets and diversify, not having all eggs in the one basket isn't the dumbest move, for the rest of us, a silver "gamble" with a small sum - knowing what we know about what may happen in the coming years, isnt the worst move ever either. I appreciate you challenging the status quo of silver bug thought processes, because it is very easy to believe the suits and spout what they're all perpetually dribbling on about. I'm just over "to the moon" sentiment myself. Listen to a jerkwad called Bo Polny if anyone here is interested in inflating the strength of their own choices about getting into silver. Just don't watch anything too old--- he was claiming silver was going to Jupiter this year. Boy is his face smeared with doggy Doo Doo. He really sounded like one of those nutter 2012 end of the world scare mongerers. Peace out dudes! For what it's worth, I'm looking forward to a beautiful full day of barrier reef snorkelling tomorrow! Can't wait! I can't imagine I'll have silver or markets on my mind then.
Also.. s Dive! Dive!! Dive!! Well, last day of trading today's, isn't it? Edit: last day Ainslie are trading lol
PrettyPrettyShinyShiny, I can't find anything significant to disagree with in your comment #71. I do see silver today as a commodity that can behave like an asset...plain and simple. I am smart enough today to no longer view flat discs and rectangle plunks of silver as "insurance", a "safe haven" or any of those other diamond-cartel-swindler terms that I once bought into in my early pm stacking days when I likewise bought into the SHTF/end-of-days-is-imminent permabull drivel. Many of these permabulls still think of blobs of silver as some sort of magical cure-all, an indispensable panacea. Whether it's because they are ignorant or they are silver sellers and benefit directly from convincing others of their rhetoric, I just don't know but I can tell you that beliefs of silver as money and indispensable is a strongly-held belief rooted in a fanatical attachment to yesteryear. It's because such beliefs are so fervent and hard dying to enough people, is why silver will always be valued (and therefore, always a market for silver as weak as it gets at times). This, in no way, shape, or form means that silver has any intrinsic value....all it means is that some people will attach value to silver for the foreseeable future. I sure am jealous of your upcoming snorkling adventure. My SCUBA certification lapsed nearly 2 decades ago. But even when I was certified, I was no where near someplace as beautiful as the Barrier Reef (I'm assuming you are referring to Australia's) which some parts would be better enjoyed with a supply of oxygen rather than fresh airing all of it (from what I heard). Still, I'm sure you will have a very enjoyable time. .
Um.... that's a 1-2% fall? I don't think that "dive" is exactly the right term. Considering it's been hovering around $22 AUD for a while, it's much more like <-------- sideways -------->
BIG DRAMATIC SIGNAGE! APMEX (a us bullion dealer) is 1 of about 12 bullion sites I following having an End of Year/New Years sale. Are the AUS or EU dealers having these types of sales?
Considering the futures hedge and spot price combination, it was last week about a same situation as october/november 2015.
1-2% down is still down! And it's still dipping. I'm willing it down, not giving commentary on its movement. Keep going "sideways" then... Move sideways all the way to $7, please. And at that price, the dollar can do whatever the hell it wants
Based on the last 6 months, I'm going to throw it out there, that we'll see get up to and hover between USD$16.30 and $16.70 in January and drop to below USD$15 by (edit:WITHIN the month of) Feb 2017. There you go. Prices AND a timeframe. Can't get better than that, right? Step right up! Step right up and place your bets!!
