That is a way better explanation than the websites!
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Be sure to read this post! Beware of scammers. https://www.indianagunowners.com/threads/classifieds-new-online-payment-guidelines-rules-paypal-venmo-zelle-etc.511734/
Is Silver next?
- Thread starter Magyars
- Start date
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That is a way better explanation than the websites!
I really can't wrap my head around crypto. Not backed by anything (and I guess the dollar really isn't anymore either though), and totally made up out of thin air. Just seems crazy to me.
Yes it’s made out of thin air. The allure is that there is a finite amount and it’s not controlled by a central banker like jpow. Means Jpows money printers can’t make your 1 Bitcoin have .9 Bitcoin purchasing power.
I honestly think and believe that the feds are cooking the books on the inflation number right now. They say we have no inflation and yet everywhere I look prices are rising. Lumber, gas and all the food commodities are all skyrocketing. If that’s not inflation idk what is.
positions: holding a couple hundred shares of some crypto mining companies as well as a single call. No actual crypto position yet, still trying to decide size of position I’ll take.
But how is there a finite amount if all of it is "imaginary"? Who says "this is all there is, and there ain't no more"?
On the inflation subject bc crypto can’t be manipulated it’s probably the best judge we have of REAL inflation. JPM and many other large institutions hold significant silver positions to back silver ETFs. Now I don’t know what they are doing as the market maker but if it was me I would be making a fortune selling covered calls and then impact the price based on how much extra silver I buy of how much of a short position I take up.
ELI5 version: banks control the price of silver. That’s why you pay over spot. You call it a “premium” I call it the real price.
ELI5 version: banks control the price of silver. That’s why you pay over spot. You call it a “premium” I call it the real price.
Sorry for jacking this thread with the crypto talk but The creator sets it that way. That’s actually one of the problems with using crypto. The “mining” is actually people using their computers or dedicated mining machines to process the complicated math problems that are the transactions from one holder to another. The miners are then rewarded with a portion of a coin, the further into the crypto lifecycle we get the smaller the reward. For a while last year the only way it was profitable to “mine” crypto was to steal power.But how is there a finite amount if all of it is "imaginary"? Who says "this is all there is, and there ain't no more"?
Sheesh... "creator"... "mining"... "steal power"... sounds more like a video game than an investment vehicle.
I was a buyer at that time too. A person wouldve been crazy not to. One of my best decisions of 2020. Really wish I had bought rhodium when it was 7-800 per ounce.
Actually I was given a great definition of spot price in the silver thread and I am sorry a cannot remember who to credit. I was told spot is the equivalent of the price of corn on the CBT st $4 a bushel, can you buy corn at that price in the grocery store? So yes, $4 is the real price of a bushel but who is going to give that $4 bushel to you?
Spot is the price for ore that is mined and refined to silver that is sold to the mint that strikes the coins that assure value...
Hopefully those who shared will see I'm learning! LOL
Here it is, thanks!
I look at the precious metals like silver or crypto currency with a mutual fund mentality because it's going to be better to have a little bit of everything to smooth out spikes or drops in value. The appeal of silver to me is that I physically have it in my possession period. Whether coins or bullion are better is a complete guess and nobody has a clue what would be worth more post SHTF regardless of how smart they think they are. I keep bullion that's clearly labeled with what it is and the weight of it in a new sealed package if at all possible so if I'm bartering post SHTF the stranger who has never followed precious metals before doesn't have to take my word for what it is. At the same time, some people would rather see an officially minted coin for whatever reason they got in their head. For me, I spread it out evenly between the two options. Silver & Gold is not a number on a bank account that can be changed over night like what happened in the island nation of "Cyprus". Look that one up if you can't remember it. Physical cash should be part of this mutual fund concept as well. Crypto currencies are being created every day and pricing fluctuates on a moments popularity contest, but I don't think it's bad to have some of that too, just be aware it's on a computer and despite what people say eventually someone is going to figure out how to steal it like anything else.
If you're thinking financial survival, and you should, think of it like a mutual fund. Some bullion, some coins, some cash, some crypto, some whatever. I'm not putting all my eggs in one basket.
If you're thinking financial survival, and you should, think of it like a mutual fund. Some bullion, some coins, some cash, some crypto, some whatever. I'm not putting all my eggs in one basket.
Just had a thought occur to me... and I think I already know the answer, but I'll ask anyhow. Knowing this information before going to say, the Indy 1500, or any gun show where people are selling silver coins etc. at tables, is that a viable place to buy? I'm guessing it's not, since obviously people will be wanting to make a profit just like they do on ammo.
