Henry Ford. Sometimes consumers are not in the best position to know what they want, it takes an entrepreneur to open their eyes. I sometimes wonder if we PM buffs have had our eyes closed too long and that silver has had its day and is no longer useful as a medium of exchange/store of value anymore. By the way Ag lovers, hope you got some lazy cash sitting around, we just sold our PMDS allocated holdings. I expect we'll see a little burst in the price charts know.
What about the fiat crypto currencies? Just like investors can speculate with cryptos and make huge profits so too can investors speculate with fiat currencies.....and make HUGE profits. Approximately USD$2,000,000,000,000,000 is traded on the FOREX each day. Fiat makes many people wealthy on any given day. Fiat currencies rule the roost all the way until the time they don't. Maybe asset diversification is the best approach.
Unfortunately, all roads lead to the fiat. It doesn't matter what you invest in, somewhere along the way there will have to be a conversion to a fiat currency. You don't have to trade with it but it will still be used as the benchmark.
pumping crypto and dumping silver, the outlook short term is not a positive from a sellers perspective of bullion, semi numis and high end bullion rounds at this point depending on the individual release may have taken a small hit but desirability/collectability factors for certain pieces will help keep the desirables afloat for the time being, whether or not that will continue for certain releases is anyone's guess but for generic bullion grade rounds its a long way back to $24 aud spot. I cant help but have a little concern for the shape of things at the moment, Gold is sideways and has been for some time, I don't really see +/- $100 movement as reassuring for the initial outlay per oz bullion, this requires a fair quantity to reap reasonable reward. Depends on the individuals reasoning and according to the individual circumstance as to whether or not it could be seen as a sound term deposit. There is only one metal (not Ag or Au) I have any real interest in and there are as many reasons to hold it as there are to dump it(same as crypto for me) which seems to apply to most Pm's when the market is as it is now. If you are questioning your stack due to the market, first question your motivation/reasoning for having it and you will provide yourself your own answer as to its feasibility, are you looking for short term or are you in for the long run?? The future is uncertain, shrouded by the dark side it is, I sense great fear in the small fish (Iamasmallfish) however there is no reward without risk. Remember there is an opportunity at every downturn. Do not put forward more than you can afford to lose in anything and diversify.......simples. JMHO B.
Also after reading more about this crypo surge, it’s a panic buy that is bringing the price up beyond $9000, people know the US dollar is dying and this bit coin buying spree is a reflection of the panic people are experiencing. However it’s just a temporary substitute for the real panic and real death of the dollar. The planet is not ready for silver to rise to the price bitcoin is experiencing. That’s the real game over. And it will be scary in real life when it occurs. Yes we will have our stacks but the billions of people around us will have nothing and they will be starving and looking for any opportunity to “get some money “ whether it’s crypto or physical silver and gold, every day will be the most painful day average Americans have ever faced because the reality is there is very little of the real money left. Crypto is just the newest substitute for silver and goal and it’ll have to do for those 99% of people. That’s why I believe bitcoin has the price silver should right now. People don’t understand what they are purchasing. And it’s the fake reality that is winning over the real reality, but the real reality is coming to deliver the knockout hits, it’ll happen but the world is not ready for $9000-$11,000 Silver, personal I’m not ready either it’s scary and it could easily become deadly.
The U.S. dollar is far from dying. A lot of other currencies will 'die' before the U.S. dollar. It is the penultimate currency. The pension crisis, the debt crisis etc will force the U.S. dollar skywards. Any contagion will create demands. The number one demand will be the dollar. Liquidation of assets to meet calls will cause capital to flee to the safest, quickest and most practical asset. There will be no choice but U.S. dollar and U.S. stocks. Silver and gold markets are tiny ( and traded in U.S. dollar ) and will not escape a contagion for the short term. This is because there is very little interest except speculation in this market. Any hiccup and the race for the door is on. Speculators have no soft spot for gold and silver and will dump it faster than you can say " the dollar is dead". As for crypto's, it is very obvious that it is not a currency substitute as it lacks some very important features, the most obvious being stability. How can you buy and sell using an exchange medium that fluctuates so much. Sell your house tomorrow and it can either be worth a car or a castle within a week.
Silver is still much alive and long term much beter than the Petro Dollar, Ghost City Yuan, Rubble Roebel, the Kangaroo Steak Dollar or what else you want to call your local fiat currency. Although the market isn't hot for it at the moment and the price is manipulated to stay low. The majority of bunny investors want to get rich quick in paper assets off a hot tip of Ali Baba (and the 40 robbers) the cab driver. Fine with me I stick to the Bear markets instead of the Bull markets. That's why I love Silver Gold and Platinum + a few other things . We will see who the winner is when paper is burning fast, the IT nerd cries to see her/his bank account numbers going crazy and thinking the computer is broken and a homeless person can qualify to buy that New York penthouse overlooking Central Park If you can't hold it you don't own it and that's when I can afford my Ferrari
It makes no sense at all to have no confidence in the very currency that your favourite metal is traded in. If that is the case then you should be investing in other things. If you think the dollar is going to drop and silver will rise then you aren't going to be that much ahead because the silver is traded in the dollar. If the dollar halves then the silver has to double just to maintain value. The reality will be far better. In the 70's silver rose but so did the aussie dollar. It tempered the rise. This time we may actually get a turbo boost thanks to the complete incompetence of European nations and the inevitable currency crisis. We should all be cheering the rise in the U.S. dollar because it will be this combination that will enable us to all have Ferraris.
Tolly, it makes sense, your just missing one piece, some of us believe the dollar is completely garbage. I don’t measure my wealth in dollar value, I measure it in ounces. A few people, myself included believe that the dollar will die and a new money system will be established to replace the dollar in our lifetime. When this happens is when the real value of silver is established. No more will people say their silver is worth this many dollars. In fact I believe what a few articles I’ve read and silver will be regarded as “treasure” it’ll actually be way to valuable to be used in everyday trading. But a new crypto currency backed by metals will probably be the only way to spend in everyday day amounts. We will be spending in grams and nanograms of silver after the dollar dies.
There is no doubt that the dollar will eventually fall. The fact is that other currencies and associated economies are far weaker and will fall first. This money will have to go somewhere. You live, you die but there is a lot in between. If you focus on the death you will miss out on the best bits. The U.S. dollar still has a lot of life left in it. A man can be diagnosed with cancer and still have time to climb Mount Everest, sail the seven seas and attempt to break the bank at Monte Carlo. So it is with the dollar. It is not a question of being right. It is the ability to step back and go with the flow. As for a new currency, this will be possible for international trade but very few nations will adopt it for local trade because you end up with the same problem some European countries have now. Now crypto currencies have a serious flaw in the fact that a lot of people do not have access to the technology or understand the mechanisms to trade in it. There is no substitute for cold hard cash.
The Gold/Silver Ratio is now 78.33 to 1 Could be a good time to buy Silver. But then any time is a good time to buy Silver. _JOHNLGALT.
Why do have to yell and scream and technicolour vomit your responses? Do you lack confidence in what you have to say? Please save me some time and put me on your list.
