What's the future of silver look like to you?

Court Jester said:
sure nothing is impossible but goig back to a gold standard is about as likely as me getting a 3 way with taylor swift and DJT
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It won't be exactly the same gold standard as in the past. I'm not an expert in this area to know what will happen.

But using even a layman hat, if you think about it, advances in robotics and AI will reduce labour cost to almost free, so the value add in manufacturing will disappear within the next 30-40 years. In 30 years, all this trade war disputes won't even be relevant because manufacturing can be done anywhere in the world, even on a ship.

If you don't need to pay for manufacturing, you don't need to outsource manufacturing. But stuff like food and oil still needs to be imported because AI can't create oil and land or Silver.
 
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sgbuyer said:
It won't be exactly the same gold standard as in the past. I'm not an expert in this area to know what will happen.

But using even a layman hat, if you think about it, advances in robotics and AI will reduce labour cost to almost free, so the value add in manufacturing will disappear within the next 30-40 years. In 30 years, all this trade war disputes won't even be relevant because manufacturing can be done anywhere in the world.

If you don't need to pay for manufacturing, you don't need to outsource manufacturing because the factory can be located anywhere in the world, even on a ship. But stuff like food and oil still needs to be imported because AI can't create oil and land or Silver.
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anufacturing even with ai isnt free and can allready be done anywhere im not sure what the point is your trying to make
 
Maybe staying off the YIPPEE Bean would help you see clearer.
yippee bean n. [rhy. sl.] (Aus.)
an amphetamine.1967 ‘Whisper All Aussie Dict.’ in Kings Cross Whisper (Sydney) xliii 11/3: yippee beans: Methadrine, dexadrine and ...
 
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JOHNLGALT said:
Maybe staying off the YIPPEE Bean would help you see clearer.
yippee bean n. [rhy. sl.] (Aus.)
an amphetamine.1967 ‘Whisper All Aussie Dict.’ in Kings Cross Whisper (Sydney) xliii 11/3: yippee beans: Methadrine, dexadrine and ...
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and you need to put the crayon down and resume taking your meds aint nobody got time for old people rambling
 
66rounds said:

If you dont think a gold standard is in the works, i have news for you bud.
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id put 1kg of silver up to anyone who wants to make a bet on a gold standard being implemented within the next 2 years

put up or shut up as they say
 
the world is not going to return to gold or silver

this is the world of the internet

the world of gold and silver was before that

as the people from America aged past the golden time of those metals , so did the hucksters from that era

we were all exposed to those self-promoting hucksters promising the moon and saying "Just as I predicted it happened", no different from their forebears selling fake medicine in the 18th and 19th centuries to desperate and trusting folk

there is no return to this era without the loss of our modern interconnected comforts

just as peak oil was hysteria for mass consumption, peak oil prices were in 2011, fell ever since

many people were skinned alive financially on the back of scurrilous exhortations from people who took no responsibility for their assurance and made off with their profits

some sites should receive their reckoning, in the future hopefully DAILY

there is nothing in these metals except what people see in them, just as in anything it is only worth what a buyer will pay

you'd be a prize idiot to believe anything otherwise

you being the prize, for the hucksters

money can be made, but that is a far cry from the bullshit
 
Good convo, my 2c

sgbuyer said:
I noticed that silver sales has slowed significantly since a week ago. A correction coming?
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Could be I'm no analysit either .... layman hat on.... but as silver follows gold probably more like consolidation as the movers watch US/China US/Iran and to a lesser degree but no less important Brexit
 
Court Jester said:
id put 1kg of silver up to anyone who wants to make a bet on a gold standard being implemented within the next 2 years

put up or shut up as they say
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The time frame I'm predicting is before the end of Trumps second term, so 5 years. And making a bet over 5 years just seems silly to me.
It will probably happen midway through his second term. 2 years is a bit tight. probably more like 3/4
 
shinymetal said:
The time frame I'm predicting is before the end of Trumps second term, so 5 years. And making a bet over 5 years just seems silly to me.
It will probably happen midway through his second term. 2 years is a bit tight. probably more like 3/4
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id go to 3/4 as long as the silver is held in escrow by a 3rd party
 
sgbuyer said:
If DJT wins a second term, a change in monetary system is not impossible.
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Regardless of DJT No only is it not impossible it is inevitable and probably sooner than we all think. I have strong doubts it will be gold standard, that's far too tangible. Most likely a crypto, it's an obvious choice for banksters who love to inject stimulus using zeros and ones not to mention governments who are pre occupied with subject control.

Cashless has been on the IMF agenda since the early nineties and it's almost upon us in Australia
 
Like i said, bets over periods of years just seem drawn out and silly to me but I'm sure someone will take you up on it.
I'm betting on it by buying silver.
 
Just received an email . Short extract below.

USD-Day, 12 September

D-Day is bigger than just another rate cut. It’s the day when interest rate policy, exchange rate policy and the trade wars all converge. Interest rates affect exchange rates by drawing capital flows. Exchange rates affect trade wars by making exports more or less attractive to foreign buyers. Trade wars affect growth by causing the imposition of tariffs to offset the impact of exchange rates. It’s all connected and it’s all coming to a head on 12 September and 18 September. Prepare for a tumultuous and volatile reaction in the US markets beginning 12 September.

So hopefully FRIDAY 13th next week and beyond it will be positive for Au and Ag prices in oz !
 
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Court Jester said:
id put 1kg of silver up to anyone who wants to make a bet on a gold standard being implemented within the next 2 years

put up or shut up as they say
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Sorry, not a gambling man, but if you put 1kg in escrow with our favourite John galt ill send you an oz of silver as a gift.
 
I must be getting bored.

Feel free to pick this apart, there's likely to be errors everywhere here. I'll try to show my workings.
With BIG numbers comes BIG errors.:eek:

The problem I see with going back to a gold standard is...

Let's take the USA on its own.

US Nominal GDP: $19.39 trillion
I'll round that up to $20 trillion
That I believe means there's 20,000,000,000,000 US dollars in existence.
Apparently the US gold reserve is
8,133.5 metric tons, that's
261,498,097 troy ounces

Therefore, if my calculations are correct,
In order to back all the US dollars in existence with US gold, one troy oz of gold would have to be worth...

20,000,000,000,000 dollars
÷ 261,498,097 ozt
= $76,482.4 per ozt

That would make a few gold stackers happy.

There's always the much more plausible reverse,
Clean the slate and introduce a new currency, just as we did in Australia in 1966 when the Australian Dollar was introduced on 14 th February 1966 to replace the pre-decimal Australian pound.
Adjust the "value" of the new currency to match both the gold reserve volume and the current gold price.

US gold reserve = 216,498,097 ozt
Times the current US gold spot price of $1537 / out
= 332,757,575,089 "new gold backed dollars" in existence.

As a fraction that's
332,757,575,089
Over
20,000,000,000,000

So the new dollar is roughly 1/60th of the old one.

Take your existing bank balance, wage and cost of everything and divide them by 60,
There's the new gold backed dollar.
One new US dollar buys one troy ounce of gold.

Is that correct?
 
When hyperinflation kicks in, all the 0's won't matter. Governments will just cut them off and issue a new currency pegged at whatever rate their fortune tellers tell them to use.
 
Number 47 said:
I must be getting bored.

Feel free to pick this apart, there's likely to be errors everywhere here. I'll try to show my workings.
With BIG numbers comes BIG errors.:eek:

The problem I see with going back to a gold standard is...

Let's take the USA on its own.

US Nominal GDP: $19.39 trillion
I'll round that up to $20 trillion
That I believe means there's 20,000,000,000,000 US dollars in existence.

Is that correct?
Click to expand...
no GDP does not equal dollars in existence you got this wrong so all the rest is wrong
 
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