My first thought when I read this was..."Mad Max"
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How about that silver?
- Thread starter gladysvjubb
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My first thought when I read this was..."Mad Max"
St. Phatty
Active member
At some point there will be a Multi-Trillion $ incentive to deflate Bitcoin etc., to force a flow of money into other stores of value.
via EMP ... maybe.
I wonder how much EMP was generated by Chernobyl.
They had a PDP/VAX style minicomputer in the control room. I wonder if that was ruggedized to protect it from EMP.
By 'EMP' I mean an event that causes enough computer problems to make people realize that Bitcoin might have a shakey foundation.
But maybe an EMP event would be good for Bitcoin.
The Strong Dollar policy group, that regularly intervenes in currency markets, often stages raids during time periods when most markets are closed and markets are illiquid. Also in the morning on weekdays, between 9:30 and 10 AM eastern time.
BUT I've never seen them do a price raid on Christmas Eve or New Year's Eve - even though markets are very illiquid then too.
via EMP ... maybe.
I wonder how much EMP was generated by Chernobyl.
They had a PDP/VAX style minicomputer in the control room. I wonder if that was ruggedized to protect it from EMP.
By 'EMP' I mean an event that causes enough computer problems to make people realize that Bitcoin might have a shakey foundation.
But maybe an EMP event would be good for Bitcoin.
The Strong Dollar policy group, that regularly intervenes in currency markets, often stages raids during time periods when most markets are closed and markets are illiquid. Also in the morning on weekdays, between 9:30 and 10 AM eastern time.
BUT I've never seen them do a price raid on Christmas Eve or New Year's Eve - even though markets are very illiquid then too.
St. Phatty
Active member
I stopped using credit cards, so have been selling Silver & paying cash for everything.
Then using the money that would have gone to pay the credit card bill, to pay down debt.
American Express revenues went down a lot in 2020, and they went berserk trying to hit customers with fees in 2021. And in 2022.
I was a heavy user of credit cards for about 20 years. Now I'm gone like Cold Turkey, except for online purchases.
One of those people that brings out a Big Wad - of 1's - to pay for their Great Value Beans.
I think a lot of companies have had their Peak revenue years. Netflix for example.
What happens to American Express revenues when people realize they aren't worth the 3% they charge ?
They become a 2% card company - and revenues fall 33% in the part of the company that depended on that 3%.
I got $26.75 per ounce for the most recent sale, 70 cents over spot at the time.
I mostly sell 10 ounce bars.
The guy who runs the coin store said he got "attempted screwed" by US Bank on his credit cards, with Covid19 late fees for bills he went out of his way to pay on time.
I think "American Mugger" is pretty much the business approach of a lot of American business, including for example the medical industry.
For sure I enjoyed being mugged in 1993 on Geary in San Francisco, a lot more than being mugged by American Express.
The coin store guy said that people were having trouble getting physical silver = today in 2022 - and that's why they were paying more.
Then using the money that would have gone to pay the credit card bill, to pay down debt.
American Express revenues went down a lot in 2020, and they went berserk trying to hit customers with fees in 2021. And in 2022.
I was a heavy user of credit cards for about 20 years. Now I'm gone like Cold Turkey, except for online purchases.
One of those people that brings out a Big Wad - of 1's - to pay for their Great Value Beans.
I think a lot of companies have had their Peak revenue years. Netflix for example.
What happens to American Express revenues when people realize they aren't worth the 3% they charge ?
They become a 2% card company - and revenues fall 33% in the part of the company that depended on that 3%.
I got $26.75 per ounce for the most recent sale, 70 cents over spot at the time.
I mostly sell 10 ounce bars.
The guy who runs the coin store said he got "attempted screwed" by US Bank on his credit cards, with Covid19 late fees for bills he went out of his way to pay on time.
I think "American Mugger" is pretty much the business approach of a lot of American business, including for example the medical industry.
For sure I enjoyed being mugged in 1993 on Geary in San Francisco, a lot more than being mugged by American Express.
The coin store guy said that people were having trouble getting physical silver = today in 2022 - and that's why they were paying more.
That first line reads like you were living on credit card debt while you had 10 oz bars stashed.
This may be early to be selling phyzz, but ya gots to do what ya gots to do.
Three Berries
Active member
I had my bill pay send a check to my eBay credit card 11 days before it was due and they still hit me for a late fee. I called them up and asked how many days in advance does one need to mail in a check as I though 11 days was way too much. They agreed and dropped the charge.
But it makes me wonder how many people they did that to who didn't notice or contest?
But it makes me wonder how many people they did that to who didn't notice or contest?
St. Phatty
Active member
Millions. Pretty sure it's their Entire Customer Base.
Would set up an online affidavit if I had more time.
The Collapse of Corporate America is very interesting !
With prices going up, the credit charges are for fewer and fewer items, i.e. less stuff.
The system is extremely dependent on young people who don't know not to trust the credit card companies.
St. Phatty
Active member
I wouldn't be surprised to see a $17 paper price.
I will be surprised if margins go back to $1 an ounce, like in 2016-2017.
I'm trying to cut back on all firearms spending, so I can pay down debt & have cash for when Silver is on sale.
Actually, Gold at 1730 is sort of on sale. The margins are only about 5%, Silver margins are about 11%.
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Anything under 18 the processors lose money, so i don't think that'll happen.
I don't mess with gold too much. I have a couple pieces, but that's it.
St. Phatty
Active member
Though it varies from mine to mine, last time I looked up
"All in sustaining cost 2022" for Silver, it was in the range $5 to $10 and up.
I am surprised that no Billionaires other than Eric Sprott, and maybe Rick Rule, have discovered Silver.
Just -1- Billionaire entering the market as a major investor, buying $250 Million a year - and taking delivery - would disrupt the market.
People may even think that selling their Silver to buy Crypto is a Wise Trade ?!
Three Berries
Active member
My oldest grandchild is turning 18 this year. Don't see much of her as she's out west. But I decided to give her a 10 gr 99.9% PAMP gold piece. Looking though my shiny I have enough to give each grandchild one on their 18th birthday.
St. Phatty
Active member
I think Pamp Suisse are the prettiest Gold bars.
One of the best gifts you could give a young person, a roll of 1/10 ounce gold coins, or the gold bar equivalent, for college.
Assuming they have somewhere SAFE to put it & are smart enough not to hide it in their dorm room.
The PAMP bars are really good looking. I hate any coin with the Queen on it though...just plain fugly to me. Now the old british sovereigns with the horseman and dragon...thats a good looking coin to me. I would hope that 3B's college-bound grand kids would have the good sense to not bring the bars with them when they go off to college...that seems like a recipe for "lost" bars.
One day off.
Good call, are you going to ask the same Q for $17?
I don't think it'll reach $17. Who knows though at this point?
The real question is, will gold drop below $1700? And if it does, do I blow my small rainy day account on it?
The thing about silver is you think you caught the bottom, then bam, 3 days and $4 (or 3 months and $10) lower is where the bottom actually turns out to be. Gold gets flushed, but not like silver.
Precious metals are not really speculative imo. I view it more as a long term savings account. If it gets cheaper, that just means I can get more for my money. Instead of getting just 2 10 oz. bars at $25, I'll get 3 at $18.
Except you wont get 3 at $18 when silver is at 18, more like 3 at $23 when silver is at 18, so silver needs to go up $5 from your buy in to make a non-loss withdrawal from your savings account...
Three Berries
Active member
All the grandkids and kids have been getting silver eagles for years for Bdays and Christmas. They all have a stash of shiny.....
