Silver Squeeze?

NoMoreTO

Ostrich
Good video. One thing I thought of, if physical silver prices were to reach the insane heights the dealer here expects and demand for silver were to become as intense as he describes, don't you think a 1933-style government confiscation would be guaranteed? Seems that way to me. It would probably be accompanied with a narrative about how silver is racist or emblematic of white privilege or something like that.

I wonder how they actually got people to bring in their silver & Gold? Or did people keep it in banks in those times ?

I try to buy cash for this reason person to person or from a coin dealer.
 

Eusebius Erasmus

Woodpecker
I wonder how they actually got people to bring in their silver & Gold? Or did people keep it in banks in those times ?

I try to buy cash for this reason person to person or from a coin dealer.
According to Maloney's Guide to Investing in Gold and Silver, the FDR government prosecuted only a single person for failing to turn in their gold -- he was exonerated by the judge. So nobody was actually convicted of hoarding gold.

The problem is that too many people are sheep, and comply with what the government says.
 

Eusebius Erasmus

Woodpecker
Several mints have sold out of 1oz rounds: Perth Mint, Royal Mint, US Mint, and apparently the contracted mint of the government of Poland. Poland is the 8th biggest silver producer in the world, more than the US.
Yup, and many mints, like the Royal Canadian Mint, don’t sell bullion directly to consumers, so it is difficult to gauge whether their bullion supplies are depleted.

My guess with the RCM is that they are, since coin shops and bullion dealers are generally sold out of silver.
 

bucky

Ostrich
According to Maloney's Guide to Investing in Gold and Silver, the FDR government prosecuted only a single person for failing to turn in their gold -- he was exonerated by the judge. So nobody was actually convicted of hoarding gold.

The problem is that too many people are sheep, and comply with what the government says.
Also, the fact that no one went to prison over keeping their gold (which I didn't know) doesn't mean you won't for keeping your silver or crypto this time around if they try to go that route again.

Anyway, silver squeeze. Coming any day now. I can feel it...
 

Eusebius Erasmus

Woodpecker
Also, the fact that no one went to prison over keeping their gold (which I didn't know) doesn't mean you won't for keeping your silver or crypto this time around if they try to go that route again.

Anyway, silver squeeze. Coming any day now. I can feel it...
True, 1930s USA was a homogenous, high-trust and nominally Christian society. Not the same now...
 
On the hand r/WallstreetSilver seems to be pretty motivated. Not only is it up to 43K members, but lots are posting recent purchases, big purchases.

I read it and post there every once in a great long while. What's interesting is that a lot of people on WSS are small-time buyers like myself. There's also some pretty good research there so its great for people like me who are interested in finance and economics but aren't as sophisticated as others. Personally I started buying silver and gold last year just after the first stimulus checks came out because I figured there was bound to be a second...and now there's a third...and then more currency printing in the form of things like huge infrastructure spending...all of which could lead to massive inflation somewhere down the line.

The major bullion dealers like APMEX etc. are constantly running low on stock and new products that come in go out of stock fairly quickly, on top of all the anecdotal reports of local coin shops running low on inventory. I don't think that's caused just by the 40K+ people who post on WSS, or even that plus (lets say) an additional 200K people who read but aren't members. The clowns at the Fed are saying pretty regularly that they're going to let inflation "run hot," so I think a lot of average people are seeing that and realizing that there's trouble coming down the road and they're thinking they better protect themselves while they've got the chance.
 

NoMoreTO

Ostrich
David Morgan goes into the Great Reset. Silver as a hedge against that. It's interesting to hear financial advice from people who openly agree with alot of the sentiments on this forum.

 

Louis IX

Pelican
Where I am used to get silver in France I see massive premiums for Canadian Maple Leafs and US Silver Eagles.
The price for other liquid generic modern 1oz is still fine though . Philarmoniks , Noah's Arks , Krugerrand.. Kangaroos or other Perth Mint stuff are still relatively cheap.

It also proves that "Junk" silver and old coins , with more than 80% purity (90% being ideal) , are still a good deal if you find them close to spot.
 

bucky

Ostrich
Where I am used to get silver in France I see massive premiums for Canadian Maple Leafs and US Silver Eagles.
The price for other liquid generic modern 1oz is still fine though . Philarmoniks , Noah's Arks , Krugerrand.. Kangaroos or other Perth Mint stuff are still relatively cheap.

It also proves that "Junk" silver and old coins , with more than 80% purity (90% being ideal) , are still a good deal if you find them close to spot.
I always wondered if the massive premiums on American Eagles were just a US thing. I guess not.
 

Louis IX

Pelican
I always wondered if the massive premiums on American Eagles were just a US thing. I guess not.
I will have to investigate more on this. But I personally do not see the point of rising premiums so high . Yes the maple leafs and the silver eagles are mega liquid in the world and particularly in North America...
But if you want 999 silver in 1oz coins there are a lot of credible alternatives - less liquid though- so i am not sure it s worth paying these premiums.

At the end the winner is always the one who has strategic stocks bought cheap and who will sell now for lower than dealers do. Silver can be quite heavy so it s best to do that close to your home and avoid shipping fees.

On another note - I still don't understand how people can trust third-parties and their vaults. Or paper/digital silver / gold.... I know a lot of people with very high IQ who don't understand that physical gold/silver is the only way to really have it.
 

bucky

Ostrich
I will have to investigate more on this. But I personally do not see the point of rising premiums so high . Yes the maple leafs and the silver eagles are mega liquid in the world and particularly in North America...
But if you want 999 silver in 1oz coins there are a lot of credible alternatives - less liquid though- so i am not sure it s worth paying these premiums.

At the end the winner is always the one who has strategic stocks bought cheap and who will sell now for lower than dealers do. Silver can be quite heavy so it s best to do that close to your home and avoid shipping fees.

On another note - I still don't understand how people can trust third-parties and their vaults. Or paper/digital silver / gold.... I know a lot of people with very high IQ who don't understand that physical gold/silver is the only way to really have it.
Maple Leafs sell for a significantly lower premium than Eagles here in the US, so I'd thought maybe each country pays more for bullion made domestically.
 

Seadog

Kingfisher
Maple Leafs sell for a significantly lower premium than Eagles here in the US, so I'd thought maybe each country pays more for bullion made domestically.

I've been thinking of dipping my toes into a bit of bullion. Not really as an investment, and only 10k or so, but purely as insurance against a true SHTF scenario. What's a significantly lower premium? Right now spot Ag is at 31.48 CAD, and after looking at like a dozen dealers nation wide, best I could find was: MLs were 38.61 ( 22% premium) Eagles were 37.67 (20%), recognized other bars (like JM refiners) were 37.35 (19%). Even 100 oz bars still worked out to 36.41/oz (16%). Gold MLs on the other hand were 2290 vs a spot of 2176 ( 5%). While the Gold MLs are a better deal, you're out of luck if you want to buy less than $2k worth of something in said SHTF scenario. 1/10 oz Gold MLs worked out to 2523/oz. I guess it's just the cost of refining and minting.
 
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