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How about that silver?

S

St. Phatty

Active member
brickweeder said:
yeah bullets are probably a better metric for the value of fiat than precious metals.

btw, can you really get 90 rounds of 5.56 for 2 oz of silver or $37??
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One of the ammo dealers used to sell the 90-bricks for about $30, sometimes less.

That was around about 2016, so Silver was $15-ish.

Now the markets are more constricted, so it might be more difficult to compare "how difficult is it to manufacture Product A" vs. Product B.

You would have to study how each production line uses economies of scale to make their particular product.
 
Three Berries

Three Berries

Active member
brickweeder said:
the value of fiat is what you trade it for at any given time, nothing more, nothing less. If you buy a gallon of gas for $5 usd, the value of $1 is 1/5 of a gallon of gas.

If you get paid $30/hr at your job, the value of $1 is 2 minutes of three berries labor.

If you have an ounce of silver but would only sell it for $50 right now, no one will buy it at that price so your perceived value of 1$ right now is incorrect, and the value of $1 in terms of silver will be decided by others who engage in an actual trade.
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But it's based on fiat right? Gold and silver do not reflect the purchasing power of fiat. Just wait until the Comex paper silver evaporates to see the true value of fiat compared to silver. The paper EFT contracts are in effect, fiat silver and used to suppress the fiat value of the physical.
 
S

St. Phatty

Active member
Three Berries said:
But it's based on fiat right? Gold and silver do not reflect the purchasing power of fiat. Just wait until the Comex paper silver evaporates to see the true value of fiat compared to silver. The paper EFT contracts are in effect, fiat silver and used to suppress the fiat value of the physical.
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Just imagine if 90% of Apple investors put their money into Apple share index funds.

It would drop the price of the stock a whole bunch.

All the Silver index funds that don't hold as much physical as they have $$, are simply diluting demand for the real thing.
 
brickweeder

brickweeder

Well-known member
✓
Three Berries said:
But it's based on fiat right? Gold and silver do not reflect the purchasing power of fiat. Just wait until the Comex paper silver evaporates to see the true value of fiat compared to silver. The paper EFT contracts are in effect, fiat silver and used to suppress the fiat value of the physical.
Click to expand...
well, when you trade your labor for fiat then use that fiat to buy say silver, then you are pricing silver in fiat. Once you buy silver with fiat, its up to you to decide how that silver in your possession is valued. So if you hold that silver until the Gold Silver ratio is favorable (say 30 again), then from the moment you own that fiat-bought silver, you are valuing it in gold.

Everything you say about the paper market is correct. With the continuation of the huge outflows of silver from the Comex vaults that has occurred over the last year or so, coupled with the massive open interest that dwarfs both registered and eligible stocks, it may not be too long before there is a crisis at Comex, with an associated upward price reaction (a la nickel would be nice). But one thing for sure, the only way for paper control to go away permanently is for every ounce to be removed from paper's vaults with absolutely no replenishment by the powers that be....which is a highly unlikely scenario. So even if there is a Comex and/or lbma crisis, paper control will continue...until that control is wrested away by a real physical market that sets the price (based physical trades) AND IS Successfully used to arbitrage the paper-based vault systems (lbma, comex). Wars will be fought over this, and in some respects, war already is being fought over this.
 
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S

St. Phatty

Active member
It was cheaper at $21.50 an ounce than at $21 an ounce.

All the etailers raised their prices after this last part of the downward move.

They were selling for $1.75 or $1.89 + 25 cents, over spot.

For Gainesville 1 OZ Buffalo or Provident 100 ounce bar.

NOT ANY MORE.

Will there be another downward move to $20 or the high 19's - during this cycle ?

Before it goes to $60+ :cool:
 
S

St. Phatty

Active member
Now Ag is up to $25+.

Does it Matter ?

It's interesting how almost every other commodity price has gone up during the last 3 years.

What is the true post-Covid price of Silver ?

TBD.
 
Three Berries

Three Berries

Active member
St. Phatty said:
Now Ag is up to $25+.

Does it Matter ?

It's interesting how almost every other commodity price has gone up during the last 3 years.

What is the true post-Covid price of Silver ?

TBD.
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What's the gold to silver ratio? Any price in any fiat is just a good faith investment.
 
N

nmilaCHERRY

New member
gladysvjubb said:
I really love silver. One day my friend came to visit and we both had a shitload of cash to invest. I pointed out to him that silver had closed at $2.50 an oz. on Friday. It was Saturday so we went to the biggest dealer in our neck of the woods and bought all his 100 oz. bars in stock with the promise of more on Tues if we paid for them now. Which we did.
Silver did nothing but go up from that point.

Silver 19.77 3:02PM EDT +0.24 +1.25%
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Yeah, nice
 
brickweeder

brickweeder

Well-known member
✓
Amazing! Silver actually has broken above AND stayed above $25 for more than a couple weeks...I guess even the losers get lucky some times (at least that's what petty says).
 
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