Do you own physical Gold or Silver or Both?

[barrythecyborg]

So I've just finished reading 'the big silver short' by Chris Marcus.

Highly recommended.

It essentially proves through interviews with inside players that big banks (especially JP Morgan) have been manipulating the silver market, by buying up massive amounts of physical silver, shorting the market, then flooding the market, crashing the price (at least that's how I understood it).

The interviews are from 2019, when silver was at $15+/ounce.

It also claims there are 500+ paper claims for every ounce of physical silver.

The 'smoking gun' repeatedly referred to is when the price crashed from $21 to $9, following a highly irregular midnight trade.

So... where to go from here?

Any JP Morgan big shots on the forum?))

 

[NoMoreTO]

It also claims there are 500+ paper claims for every ounce of physical silver.

That'd be a game changer. I own a product with a redeem ability, but ponzi schemes have a redeem option too.

Paper Silver is only for the ride, but real Silver is where its at.

 

[Jestx]

That'd be a game changer. I own a product with a redeem ability, but ponzi schemes have a redeem option too.

Paper Silver is only for the ride, but real Silver is where its at.

Physical is always preferred over paper, but physical gold bullion seems to have much greater long term utility as silver is more speculative in nature.

For those that can afford it, even having 5-10% of your savings/portfolio in physical gold should be required given the insanity of Central Bank policy and currency printing globally.

 

[Deepdiver]

To test the market I went to a trusted dealer to sell 4 Silver Eagles and one Sunshine mint .999 blank. I bought all from this dealer and spot silver was 24.25 oz. I was paid $25 each for the Silver Eagles and $22 for the 1oz .999 blank. Keep in mind Sunshine mint provides most of the proof blanks to the US Mint using some of the best German manufacturing tech available The US Mint recently reduced about half it's staff due to covid and can now only produce Gold Eagles or Silver Eagles but NOT both at the same time. The Mint fee is avg $3 per silver Eagles and dealer fee is $2 for five total and quite a bit more for gold eagles $80 to $100 per coin total so don't be surprised if silver Eagles become even more scarce. My dealer basically gave me back 75 cents per Silver Eagle and will flip them plus the $5 Mint Dealer fee so you know. He has overhead but $5 per eagle is 20% total commission. So keep that in mind you pay a 20% premium for USMint vs ingots or blanks. Eventually the Silver Eagles do have some numismatic value over time especially for 2020 when far fewer coins minted due to the covid panics.

 

[Deepdiver]

The truth re: JP Morgan Silver pump and dumps...

 

[fktax]

Been thinking about selling off some gold. Is now the time to sell gents?

 

[username]

I've been buying precious metals for almost 20 years now and never sold 1 ounce. I use it as an insurance policy first and investment second. I myself would probably only consider selling if gold went over $10,000/oz and silver over $100/oz. Since the money isn't needed I would then have to put it into another hedge investment against the dollar.

 

[oilbreh]

Been thinking about selling off some gold. Is now the time to sell gents?

No, the move just started.. when you have people who know nothing about monetary policy asking if they should buy is when you might sell. Anyway the demand and supply of gold is fairly stable. Any price increase is just fiat loosing value. If you are not using or money for anything in short term better off with gold.