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Manic monday beatdown on metals

Avalon

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I'm totally not mentaly prepared for gold and silver to take off. :(
 

Unca Walt

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I'm totally not mentaly prepared for gold and silver to take off. :(
Me neither. It represents the last of the wheels on our train have fallen off. EVERYTHING will change drastically.
 

Voodoo

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Me neither. It represents the last of the wheels on our train have fallen off. EVERYTHING will change drastically.

Well buckle up cause it's gonna be a hot month. Things are falling, into place or out, I'm not quite sure on that part.
 

Casey Jones

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Me neither. It represents the last of the wheels on our train have fallen off. EVERYTHING will change drastically.
It sure-nuff has.

Three hundred thousand invaders crossed the southern border in May, according to Michael Yon. He didn't have the count for June, but it is larger.

He claims that South American and Mexican media are ADVERTISING that the borders are open.

The worldwide conflagration is going to have us in the center, this time...courtesy of the WEF and its tool(s) in Washington.
 

Avalon

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It sure-nuff has.

Three hundred thousand invaders crossed the southern border in May, according to Michael Yon. He didn't have the count for June, but it is larger.

He claims that South American and Mexican media are ADVERTISING that the borders are open.

The worldwide conflagration is going to have us in the center, this time...courtesy of the WEF and its tool(s) in Washington.
its all getting to be a bit much :(
 

the_shootist

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1659804226161.png
 

Goldbrix

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"If Ya bought silver and gold at higher prices, ya ought to LOVE buying them when they are on SALE"
:winks2:
 

Goldbrix

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Avalon

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what todays beat down about? Im ready to buy but was hoping for a big drop
 

Cigarlover

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what todays beat down about? Im ready to buy but was hoping for a big drop
If the fed raises rates again in Sept then we could see a drop then. I'm keeping some powder dry until then just in case I can get more miners on sale.
Overall the last 4 weeks have been pretty good in the miners. Nothing earth shattering but slow steady gains.
To me it looks like a bit of consolidation here after a decent runner the last few weeks. Remember 4 weeks ago we were low 18's. To me the downside risk here looks like 10-20% but upside is in the quadrillions%. LOL. Ok maybe not quadrillions but the risk reward scenario here is very favorable. Just my opinion though and I have been wrong plenty.
 

Avalon

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If the fed raises rates again in Sept then we could see a drop then. I'm keeping some powder dry until then just in case I can get more miners on sale.
Overall the last 4 weeks have been pretty good in the miners. Nothing earth shattering but slow steady gains.
To me it looks like a bit of consolidation here after a decent runner the last few weeks. Remember 4 weeks ago we were low 18's. To me the downside risk here looks like 10-20% but upside is in the quadrillions%. LOL. Ok maybe not quadrillions but the risk reward scenario here is very favorable. Just my opinion though and I have been wrong plenty.
I procrastinated too long when the prices were down. I should have bought, especially platinum. I won't do that again. Too much is happening too quickly.
 

Cigarlover

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I procrastinated too long when the prices were down. I should have bought, especially platinum. I won't do that again. Too much is happening too quickly.
Friends and family always ask me if now is a good time to buy. My answer is always, if you have extra money laying around then yes. Like many when the prices are higher they are jumping in. When the prices back off and metals are on sale they want nothing to do with them. LOL. Maybe human nature always thinking lower prices are right around the corner. My last buy was last year. 100 oz bar.
Anything under 30 seems like a good time to buy to me.
 

Fatrat

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It is now "in three months," November 1; there is no sign of famine ---people are still spending more money on dog-food than on cat-food. People are still throwing store-bought food in the garbage ?

There is no hunger in a country where 70,000 million is spent on dog-food.
There may not be starvation in America, but the food banks and school free lunch is doing booming business in America...
 

Fatrat

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Other than that, I bought gold friday, sorry guys...
 

Cigarlover

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I procrastinated too long when the prices were down. I should have bought, especially platinum. I won't do that again. Too much is happening too quickly.
The fed minutes said they are looking at 50 basis point next month. I think the markets were thinking they were done raising and were going to pause. Thus the selloff in the markets.
I had 4 or 5 weeks of gains in the metals wiped in the last 2 days. I dont really care and will just DCA at this point. I've only added 2 positions in the last 5 weeks and want more of both plus a few others so this pullback is welcome.
 

Unca Walt

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"If Ya bought silver and gold at higher prices, ya ought to LOVE buying them when they are on SALE"
:winks2:
I buy when the steady stipend I use to buy reaches a buy point. Done it thataway for forty-plus years. I care not the daily ups and downs.

Sometimes over that period, I bought just before a big drop.

Sometimes I bought just before a big jump up.

Sometimes I bought and nothing happened up or down.

But you can bet your virginity I have NOT lost wealth.

Your methods and results may vary.
 

gringott

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Friends and family always ask me if now is a good time to buy. My answer is always, if you have extra money laying around then yes. Like many when the prices are higher they are jumping in. When the prices back off and metals are on sale they want nothing to do with them. LOL. Maybe human nature always thinking lower prices are right around the corner. My last buy was last year. 100 oz bar.
Anything under 30 seems like a good time to buy to me.
Buy low, sell high. Nobody seems to get it, they keep doing the opposite.
I buy when the steady stipend I use to buy reaches a buy point. Done it thataway for forty-plus years. I care not the daily ups and downs.

Sometimes over that period, I bought just before a big drop.

Sometimes I bought just before a big jump up.

Sometimes I bought and nothing happened up or down.

But you can bet your virginity I have NOT lost wealth.

Your methods and results may vary.
Nice plan (me too). Wish I had 40 years doing it rather than my meager decade or so.
 

gringott

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I procrastinated too long when the prices were down. I should have bought, especially platinum. I won't do that again. Too much is happening too quickly.
Yeah, I been talking plat for a while now, not just here but using FRNs.
 

Goldbrix

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When It comes to platinum I think about the crowd i use to work with ( CONVICTS), and the KISS process. Platinum looks like silver. The average joe will no more about silver than platinum.
When SHTF there will be a sharp learning curve for most folks to adjust too and gold and silver will be their first education. Unless the dude who sold the Platinum is still around and BUYING platinum, platinum holders will have to ferrret out other buyers or traders.
The way .gov is pushing the Greenie Agenda metals like Platinum, Palladium will have their industrial values shrunk and the market for that kind of jewelry mostly resides in Japan and S.E. Asia.
Best of Luck to all that venture that route.
Me, I go KISS and deal with silver, gold and constitutional coinage of the United States.
Less chance those new 87,000 IRS agents will be interested in American Coinage.
PUS
Histroy shows the iRS goes for the low hanging fruit upper middle incomers and lower. Folks that don't have Tax Lawyers on retainer.
IRS are criminals. Criminals are like electricity, they take the path on least resistance. Low hanging fruit will be what they go after. Not the Texas She-whale and whatever she has obtained in her US coinage BUYS, and her cronies that follow her lead.

Just my WAG ( and knowledge of .gov)
 

gringott

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When It comes to platinum I think about the crowd i use to work with ( CONVICTS), and the KISS process. Platinum looks like silver. The average joe will no more about silver than platinum.
When SHTF there will be a sharp learning curve for most folks to adjust too and gold and silver will be their first education. Unless the dude who sold the Platinum is still around and BUYING platinum, platinum holders will have to ferrret out other buyers or traders.
The way .gov is pushing the Greenie Agenda metals like Platinum, Palladium will have their industrial values shrunk and the market for that kind of jewelry mostly resides in Japan and S.E. Asia.
Best of Luck to all that venture that route.
Me, I go KISS and deal with silver, gold and constitutional coinage of the United States.
Less chance those new 87,000 IRS agents will be interested in American Coinage.
PUS
Histroy shows the iRS goes for the low hanging fruit upper middle incomers and lower. Folks that don't have Tax Lawyers on retainer.
IRS are criminals. Criminals are like electricity, they take the path on least resistance. Low hanging fruit will be what they go after. Not the Texas She-whale and whatever she has obtained in her US coinage BUYS, and her cronies that follow her lead.

Just my WAG ( and knowledge of .gov)

My platinum investment is purely speculative. I have no fantasy that I am going to be using it in a SHTF situation.

I have no idea what the plan is behind doubling armed agents at the IRS, but for sure one case could be made they might confiscate PMs.
"National Emergency". So IMHO all proposed possibilities have flaws. Also, not everybody buys or holds PMs of any or all kinds for SHTF. That is a popular concept here, but there are plenty who buy and hold to transfer wealth in the family, for diversification, coin collecting you name it.

When I buy coffee I buy more than I need, keep some in stock, first because of price, but I do understand it could be useful in case of SHTF. I think good instant coffee or tea might be more valuable than silver during SHTF. WE DON'T PRODUCE COFFEE OR TEA HERE.

I have other things for a possible SHTF in the metals arena. I have learned my lessons well here. Pretty sure it is called diversification. Or not having every single egg in the same basket. I also bought some land but I don't think in a SHTF situation I am going to trade it for hamburgers.

Seems to me even the crooks know the value of platinum. Hold on to your catalytic convertor.

BTW amigo the same argument about industrial etc could be and often is made about silver. When I have brought up here before that almost half of all new silver is produced as a by product of mining for something else, and that is one reason the price is lower than we think it should be, I get silence for the most part. THEY GET IT FOR FREE, can sell it at whatever price they want. How can they lose, even at $10 a troy ounce. Ask the skeleton on the park bench waiting for silver to hit $40 again. Pretty painful I would think.

To me, in a SHTF situation, some of the most valuable things will be manual tools and the skill to use them, experience living with almost nothing, fighting skills, military experience like how to pull security, move quietly on foot without being detected, camouflage techniques etc. Not PMs.
After some form of society is established, maybe then the gold and silver will help. In the beginning of a SHTF situation, I think trying to trade PMs for other things could very well get you killed.

BUY LOW. SELL HIGH. It's fundamental.
 
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Unca Walt

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When It comes to platinum I think about the crowd i use to work with ( CONVICTS), and the KISS process. Platinum looks like silver. The average joe will no more about silver than platinum.
When SHTF there will be a sharp learning curve for most folks to adjust too and gold and silver will be their first education. Unless the dude who sold the Platinum is still around and BUYING platinum, platinum holders will have to ferrret out other buyers or traders.
The way .gov is pushing the Greenie Agenda metals like Platinum, Palladium will have their industrial values shrunk and the market for that kind of jewelry mostly resides in Japan and S.E. Asia.
Best of Luck to all that venture that route.
Me, I go KISS and deal with silver, gold and constitutional coinage of the United States.
Less chance those new 87,000 IRS agents will be interested in American Coinage.
PUS
Histroy shows the iRS goes for the low hanging fruit upper middle incomers and lower. Folks that don't have Tax Lawyers on retainer.
IRS are criminals. Criminals are like electricity, they take the path on least resistance. Low hanging fruit will be what they go after. Not the Texas She-whale and whatever she has obtained in her US coinage BUYS, and her cronies that follow her lead.

Just my WAG ( and knowledge of .gov)
Spot on, IMO.
 

Avalon

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