$13 silver might be possible

Pirocco said:
I googled for iran oil gold, found this:
https://www.cnbc.com/2018/05/16/iran-oil-trumps-sanctions-create-crude-trading-boom-in-china.html
... but they used trading volume as judgement basis.
My experience is that the use of trading volume to make claims, is quite often a misrepresentation.
It's a typical Silver Doctors trick, they compare trading volume with annual production, as in "an entire annual US silver production was traded in a single day".
That, is purely scam. It completely ignores that a single quantity underlying of the derivative, can be traded more than 1 time on a day. A single silver futures contract of 5000 oz, can be traded ten, hundred and thousand times on a single day, yet the required amount silver (if needed anyway, since futures nearly always end in delivery of dollars not in delivery of the underlying product) is just that 5000 oz.
With 5000 oz, one can generate a daily trading volume of halve the entire annual world production, by trading it 100000 times on the day.
"High frequency trading" can generate millions trades on a single day.
So one has to be wary to accept claims based on volume.
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What’s the deference with physical silver?

Physical metal can be traded thousand times a day, like paper silver. Doesn’t mean there is thosand muliples of the same silver.
 
Brief dip into the $14 usd range.
I think it will bounce but the lows keep getting lower and i am still thinking $13usd is on the books .
WHEN?????????????????????? is the question.
 
Ipv6Ready said:
What’s the deference with physical silver?

Physical metal can be traded thousand times a day, like paper silver. Doesn’t mean there is thosand muliples of the same silver.
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Who drives a truck with 1000 kg silver 1000 times a day forth and back?
Electronical representations can, but physical, maybe in Disney world.
My point was that there are folks out there, that compare traded volumes with production figures, in order to suggest it's all fake / such product quantity cannot exist. That a same quantity product can generate a trading volume of a large multitude of that quantity, they just ignore.
 
Chinese banks and investors discovered to their horror that warehouses full of steel were used by companies as collateral for multiple loans from different banks and private lenders that didn’t know about each other’s loans. They all came and inspected the steel and confirmed it’s existence. And when the company went down they all showed up to foreclose on the steel and all but one of the lenders arrived to find an empty warehouse.
 
currently coins are not on discount, $22.5... before the drop Phil were selling for $21.50 at some low point
100 oz nadir is going for $2,134 this is cheaper than last time $2,250

but stocks at the dealers seems to be lower now

spot at USD 15.05
 
Gullintanni said:
I will be buying at $13.
I sold almost all our silver some time back as i thought it was going lower then.
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If I were you, I will get some at $14. A lot has changed since this thread was created. The situation in Iran/Turkey now don't look too good. If Trump squeeze hard enough, they might do something desperate soon.
 
Shaddam IV said:
Chinese banks and investors discovered to their horror that warehouses full of steel were used by companies as collateral for multiple loans from different banks and private lenders that didn’t know about each other’s loans. They all came and inspected the steel and confirmed it’s existence. And when the company went down they all showed up to foreclose on the steel and all but one of the lenders arrived to find an empty warehouse.
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All those "different" banks lend eachother their depositors money but they wouldn't pass collateral information to eachother?
I think they have discovered publicly what they did knew privately, due to an information leak or so.
This isn't special either, multi booking of collateral is what all governments and central banks do.
Even more, the entire banking system, their so called "reserves" are from their start already a multibooking of real (backed) money. The creation of credit, the fractional reserve system, the money multiplier, IS reusing collateral - multibooking.
So those that expect some major "discovery" and whatever ugly global doom consequences, well, it's nothing special, multibooking is common business, regardless money or steel.
Hell, after 2008, the central banks even further "relaxed" their collateral "requirements". Debt can be used as collateral for debt. :P
 
By the way, it's not the silver trading that made silver cheaper, it's trading of USD and other currencies, the other side of the equation.
I bought 30 kilo during passed weeks, and the products I purchased still cost as much and more than what I paid.
The only exception so far was yesterday, where a short 10 cent / oz less occurred.
 
That was btw the single stupidity-luck I had in feb/march 2011, I swapped my euro's to silver on a moment that the euro sat near a peak of 1.5 and implicitly (index formula) the dollar near the same historical low of 2008. The difference is 20%, so not that insignificant.
 
sgbuyer said:
If I were you, I will get some at $14. A lot has changed since this thread was created. The situation in Iran/Turkey now don't look too good. If Trump squeeze hard enough, they might do something desperate soon.
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The problem i have with this and the reason i sold when i did is we are not talking about 100 here or hundred there we are talking thousands of dollars.
Just to buy back in to the same position is going to mean every dollar price change in silver is $2k+ difference to me.
 
Gullintanni said:
The problem i have with this and the reason i sold when i did is we are not talking about 100 here or hundred there we are talking thousands of dollars.
Just to buy back in to the same position is going to mean every dollar price change in silver is $2k+ difference to me.
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I've to agree, the market is now crazy. Jim Rogers was talking about gold falling below $1000. If gold falls below $1000, silver will be below $10. Totally doesn't make sense because gold below $1000, all miners (gold, silver, copper) will be losing money, but then it could still happen!

Rest assured that a few billionaires are watching at silver like a hawk, waiting to pull the trigger. Warren Buffett is definitely watching. Imagine Warren Buffett putting tell his subordinates to buy all the silver bullion on jmbullion, apmex, abcbullion, provident, kitco, all the major bullion dealers all at the same time, I don't know how much it will cost him, probably $200-$300 million? The whole market will panic, physical silver will just disappear from the market.

This is how I imagine it would happen? Correct me if I'm wrong. :)
 
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Wow, we are back at under AU$20 silver. I said years ago that anything under AU$20 was "cheap". It's peaked my interest again.

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