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Reddit Investors Piling Into Silver Drive Up Prices a Second Day

gringott

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A difference without a distinction to me. All of the FRNs in existence are created debt.

Nothing has changed in that arena.
 

ds_mustang

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A difference without a distinction to me. All of the FRNs in existence are created debt.

Nothing has changed in that arena.
We'll see. Somehow I don't see confidence failing in the dollar before we get deflationary pressure on the debt. When there is too much debt and declining economic activity, people can't get dollars to pay their debts. Demand for the dollar rises as people try to keep up with the debt. They end up selling their silver to get dollars to keep their heat on and credit card working. It's not until after that breaks down even further that people completely lose confidence in the economy and the money and you get run away inflation as people flee the dollar. We're not remotely close to that point yet. This is a fakeout... a false inflation before the deflationary collapse IMO. It's caused by government creating more debt and giving money away to people that don't need it that badly yet, so they slug it into the stock market, crypto, and silver. The economy is still functioning at this point. Just wait until the real problems get going.
 

Ebie

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Premiums for physical silver are higher than ever, at least as I can recall.
ASEs are out of stock, approaching $40/oz--if you can get on wait list.
Are we seeing divergence?
How can CEF sell allegedly physical silver at $26/oz when the physical market price appears to be higher than that?
 

gringott

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BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR.

From helicopters almost. As predicted by Mr. Ben Shalom Bernake.

They are still shoveling digital FRNs off the helicopter from the last print cycle, and are about to create a couple trillion more.
They can't get rid of it as fast as they make it, even with MASSIVE condoned fraud such as unemployment etc. (Billions lost to fraud during this covid bs). They don't care.

The "grassroots" of the Robinhood bizzareness is free money. A bunch of young people who most likely never had more than $500 "extra" money getting double unemployment checks, corona spending money, living in a basement and eating off mom and dad or mom or grandma.

They bought the video game consoles, they bought the graphics cards, they bought the big screens, they bought a pound of mood enhancer, and still had cash.

Not inflationary? Really?
 

solarion

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Premiums for physical silver are higher than ever, at least as I can recall.
ASEs are out of stock, approaching $40/oz--if you can get on wait list.
Are we seeing divergence?
How can CEF sell allegedly physical silver at $26/oz when the physical market price appears to be higher than that?
CEF? = Sprott? Canadian Expeditionary Force? lol

He stacks 1000oz bars. Those are currently priced at a bit over $28 per ounce in small quantities and even lower prices in large quantities. There are none available via retail channels currently...at least not the several I checked, but presumably team Sprott has connections I do not.
 

ds_mustang

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BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR.

From helicopters almost. As predicted by Mr. Ben Shalom Bernake.

They are still shoveling digital FRNs off the helicopter from the last print cycle, and are about to create a couple trillion more.
They can't get rid of it as fast as they make it, even with MASSIVE condoned fraud such as unemployment etc. (Billions lost to fraud during this covid bs). They don't care.

The "grassroots" of the Robinhood bizzareness is free money. A bunch of young people who most likely never had more than $500 "extra" money getting double unemployment checks, corona spending money, living in a basement and eating off mom and dad or mom or grandma.

They bought the video game consoles, they bought the graphics cards, they bought the big screens, they bought a pound of mood enhancer, and still had cash.

Not inflationary? Really?
It's inflationary but it's debt inflation. Things are actually pretty good and people have the excess money to spend on luxuries like silver and GameStop speculation. If the economy stumbles, eventually the debt won't be able to be serviced and that's deflationary. Dollars will be SCARCE. People will sell their assets to get dollars to keep the heat on. Until that starts to happen there won't be the failure of confidence in the debt-money and economy--and that loss of confidence is what leads to hyperinflation. Hyperinflation is very different from the debt inflation we're seeing now. This is heaven compared to what is coming.
 

Ebie

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CEF? = Sprott? Canadian Expeditionary Force? lol

He stacks 1000oz bars. Those are currently priced at a bit over $28 per ounce in small quantities and even lower prices in large quantities. There are none available via retail channels currently...at least not the several I checked, but presumably team Sprott has connections I do not.
Excellent post.
"presumably"
I think that you are correct--for now.
I suspect the paper price of silver will rise--because they do not want divergence--if they can prevent it.
For now.
Thank you for posting.
 

gringott

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Somehow I don't see confidence failing in the dollar before we get deflationary pressure on the debt.
The debt will never be paid back, not in any sense that is real. That is a fact.
Interest rates will not really rise until after the reset. They cannot. The fedgov debt would consume everything in short order.
Bust out a calculator and cruise over to the national debt clock.

I have no way of tracking this, but I noticed that Vanguard has had a notice up about unusual volume of calls for a couple of days, website traffic problems also. Vanguard is the old folks home. Super increase in traffic says to me: Somebody is getting out. A lot of somebodies. Scan the web. I have seen some comments on financial sites in passing talking about the exit from mutual funds etc by the "older crowd" and "retail investors". Does not sound like confidence to me.

Which comes first? Confidence in the the FRN failing or inflation or deflation?

There is no where safe that the enormous amount of FRNs can go. They have barred all exits. Everybody is running around trying to become a billionaire OR trying to find a store of wealth that can ride out the storm. Meanwhile brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.

Have you ever heard the term "monetizing the debt"? That means you go brrrrrrrrrrrrrrrrrrr and pay your vig on old debt, and go brrrrrrrrrrrrrrrrrrrrrr for your new debt. Less and less outside bagholders moving to one bagholder the FedRes. The decreased purchasing power caused by this vicious cycle is well known. As an untrained unschooled person in economics [just university classes] I believe that decreased purchasing power is called inflation.
 
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Ebie

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It's inflationary but it's debt inflation. Things are actually pretty good and people have the excess money to spend on luxuries like silver and GameStop speculation. If the economy stumbles, eventually the debt won't be able to be serviced and that's deflationary. Dollars will be SCARCE. People will sell their assets to get dollars to keep the heat on. Until that starts to happen there won't be the failure of confidence in the debt-money and economy--and that loss of confidence is what leads to hyperinflation. Hyperinflation is very different from the debt inflation we're seeing now. This is heaven compared to what is coming.
Interesting post, thank you.
Deflation?
Is bread going to $0.05 per loaf?
I can say: this is not going to happen (in my city, at least)...
 

solarion

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If the economy stumbles
What do you mean if?

1612545374272.png

United States GDP Annual Growth Rate

No, the fake "markets" don't care, but mainstreet crashed into a wall months ago. The fed is attempting to ensure that dollars aren't scarce by providing $96b in SNAP welfare, stimulus, general welfare, and soon probably UBI. They're not cranking up M1 and M2 "money"(currency) supply for nothing.

...and silver isn't a luxury...it's money. People desperately need to protect themselves from wealth confiscation via inflationary forces and government malfeasance.
I suspect the paper price of silver will rise--because they do not want divergence--if they can prevent it.
If the pressure on physical supply can be maintained, the manipulators will be forced to choose between a couple bad options. I believe they'll choose to let paper and physical diverge further. The paper silver contracts, particularly the shorts will be defended...via spoofing and naked short dumping. Paper silver priced somewhere between 30 and 35 would, IMO, cause carnage which could drive paper silver upward sharply.
 
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gringott

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THERE IS NO INFLATION. JOE BIDEN IS THE PRESIDENT. THE MAN WEARING THE DRESS IS A WOMAN.
 

ds_mustang

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The debt will never be paid back, not in any sense that is real. That is a fact.
Interest rates will not really rise until after the reset. They cannot. The fedgov debt would consume everything in short order.
Bust out a calculator and cruise over to the national debt clock.

I have no way of tracking this, but I noticed that Vanguard has had a notice up about unusual volume of calls for a couple of days, website traffic problems also.

Which comes first? Confidence in the the FRN failing or inflation or deflation?

There is no where safe that the enormous amount of FRNs can go. They have barred all exits. Everybody is running around trying to become a billionaire OR trying to find a store of wealth that can ride out the storm. Meanwhile brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.
I agree with a lot of what you're saying. The debt won't be paid back (it will default). Interest rates aren't going to rise (and that's deflationary btw). Debt is getting out of control (again deflationary). But I disagree with you on the end game. The world doesn't get flooded in FRNs. Debt is not the same as currency. Our money isn't printed into existence, it's borrowed into existence. It doesn't die by the wheelbarrow full (at least not at first), it VANISHES back into the nothingness it was borrowed from when people can't pay their debts and default. If I default on a $100 loan, that money is gone and the $100 debt asset someone held is worthless. That $100 debt asset now impacts $1000 or $10,000 of leveraged debt related to the $100 and starts a greater risk of causing further cascading defaults. Defaults lead to more defaults and more and more money vanishes in deflation. Dollars will be scarce, not plentiful like they are now. Eventually government response to the deflation will spur loss of confidence and a run out of dollars and hyperinflation, but it has to get a lot worse first.
 
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ds_mustang

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What do you mean if?

View attachment 201023
United States GDP Annual Growth Rate

No, the fake "markets" don't care, but mainstreet crashed into a wall months ago. The fed is attempting to ensure that dollars aren't scarce by providing $96b in SNAP welfare, stimulus, general welfare, and soon probably UBI. They're not cranking up M1 and M2 "money"(currency) supply for nothing.

...and silver isn't a luxury...it's money. People desperately need to protect themselves from wealth confiscation via inflationary forces and government malfeasance.

If the pressure on physical supply can be maintained, the manipulators will be forced to choose between a couple bad options. I believe they'll choose to let paper and physical diverge further. The paper silver contracts, particularly the shorts will be defended...via spoofing and naked short dumping. Paper silver priced somewhere between 30 and 35 would, IMO, cause carnage which could drive paper silver upward sharply.
I agree the economy is screwed. But we haven't begun to see the impact yet. It's going to get so much worse.

And no silver isn't money right now, at least not yet. Not in any practical way. You don't pay your heating bill or credit card bill with silver, you pay with dollars. You will sell silver to get dollars to keep you heat on when the economy collapses, deflation hits, and things get bad enough. The buying of silver as people run from the dollar won't happen until after the deflationary collapse. The buying we're seeing now is just speculative demand, it's not being driven by any real need or lack of confidence yet.
 

ds_mustang

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Interesting post, thank you.
Deflation?
Is bread going to $0.05 per loaf?
I can say: this is not going to happen (in my city, at least)...
Bread probably won't get cheap because people need it. The government is debauching the money now, so we probably won't see deflation in necessities even as the world is suffering from massive deflation. We'll see deflation in things people don't need to survive. And sorry, but people don't need silver to survive.
 

gringott

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You toss a wonderful word salad.

But you are ignoring or minimizing the inflationary pressures.

What is the stated goal of the FedRes monetary policy?

INFLATION.

If anybody can do it, they can.

1612546640825.png


There were many factors in the great depression. Would you agree that the great depression was deflationary?

The thing that sticks for me is the Fed used tightening the money supply to create the depression.

Not printing like brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.
 

Buck

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how do, generally good people, find themselves in an alley, at this point in their lives?


we've been lead by leaders who are being led

and the Lead Actors, in all of it, have been the same for decades

and those leaders who lead the Lead Actors, they have changed names and country flags, over the decades....

what a circle jerk

and on the surface, it appears to still be a continuing set of leaders and their leader has been around for 40+ years and his leader is from China

what a circle jerk
 

solarion

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I agree the economy is screwed. But we haven't begun to see the impact yet. It's going to get so much worse.
Agree with that, but many small businesses have been burning cash and will not survive. The economy hit a wall and the effects will become clearer in the near term. Agree also that there's a difference between bank credit and dollars/FRNs and those bank credits can, if not converted to something of value, and likely will disappear.

...and money is a reliable store of excess economic activity. Gold and silver are money, even if the gumbymint doesn't currently recognize them as units of account(currency). ...despite being forced by law to stamp dollar amounts on gumbymint issued bullion.

Monetary inflation is being hidden in asset prices. When that bubble pops we'll see a whole lot of funny munny flowing out of that scam masquerading as a free market, and hopefully into a lot of tangible goods. ...and yes that has the potential to create a liquidity crunch and therefore deflation, but it'll be in the larger scheme of inflationary forces...imo.
 

gringott

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Bread probably won't get cheap because people need it.
You have now totally lost me.

Bread will most likely get cheaper in the United States because people need it. Cut off the food and the guns come out.
Digital Food Stamps = Free Bread
Obamao Phone = Free Entertainment
Lexus = Prices skyrocketing. No free options.
 

ds_mustang

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You toss a wonderful word salad.

But you are ignoring or minimizing the inflationary pressures.

What is the stated goal of the FedRes monetary policy?

INFLATION.

If anybody can do it, they can.

View attachment 201025

There were many factors in the great depression. Would you agree that the great depression was deflationary?

The thing that sticks for me is the Fed used tightening the money supply to create the depression.

Not printing like brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.
I'm not ignoring the inflationary pressures. I just understand that debt inflation is not like currency inflation. If someone prints too much currency you get wheelbarrows full of currency nobody wants. If someone borrows (not "prints") too much debt, you get people that can't pay their debts, then defaults and the debt simply vanishes. There's no wheelbarrows, there's screaming demand for money that is rapidly disappearing. You don't get the wheelbarrows until after the defaults and the government starts to print currency because nobody will loan them money to create debt anymore. We are obviously not at that point yet.

There is no "brrrrrrrr", there is debt creation. When there is "brrrr" of currency creation THEN hyperinflation is coming, but we're not at that point yet. We're still able to create debt. The government is actually wasting its resources creating more debt to just give to people to waste on speculation. They're hoping to kickstart the economy, but there are better ways to do that. They are merely burning the country's resources and hastening the time when they will no longer be allowed to create debt.
 
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Buck

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why yesterday, i didn't have any Bread, so, i went to use my Digital Food Stamps at the liquor store, on the way there, while using my Obamao Phone, I drove my Lexus into a tree

:dancing guy


Please Sir, May I Have Another?
 

gringott

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I'm not ignoring the inflationary pressures. I just understand that debt inflation is not like currency inflation. If someone prints too much currency you get wheelbarrows full of currency nobody wants. If someone borrows (not "prints") too much debt, you get people that can't pay their debts, then defaults and the debt simply vanishes. There's no wheelbarrows, there's screaming demand for money that is rapidly disappearing. You don't get the wheelbarrows until after the defaults and the government starts to print currency because nobody will loan them money to create debt anymore. We are obviously not at that point yet.

There is no "brrrrrrrr", there is debt creation. When there is "brrrr" of currency creation THEN hyperinflation is coming, but we're not at that point yet. We're still able to create debt. The government is actually wasting its resources creating more debt to just give to people to waste on speculation. They're hoping to kickstart the economy, but there are better ways to do that. They are merely burning the country's resources and hastening the time when they will no longer be allowed to create debt.

I disagree with your premise. I believe you have confused yourself. IMHO.
If the entity (FedRes) "borrows" the money by selling bonds, perhaps some of what you wrote is correct.
They are not doing that. That stopped a while ago.
They are printing money (physical and digital) and buying the bonds from themselves through their creatures.
This is called brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.

Inflating the money supply.

1612548421601.png


Deflationary?

If so, I stand corrected. I don't believe it.

They are "debasing the currency" another term you don't hear anymore.

Are they fighting deflationary pressures? Of that I have no doubt.
 

Buck

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and if that tidal wave of fiat were to ever hit the streets, the power the sheep would now posses would be unimaginable...it could be fun

and the elite would then find themselves in that very same alley...while the sheep would be able to breathe again without having to 'check their credit score' every ten minutes
 

gringott

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He who receives the brrrrrrrrrrrrrrrrrrrrrrrrrr first wins. Everybody else, not so much.
 

gringott

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When we are all billionaires, we will be the slaves of the trillionaires.
 

Buck

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no, not really, as there's only 'so much to go around' any billions we would posses have to come from the trillionaires, and at that point, they're just billionaires like us...maybe for only about 30 days, as that island story goes, but, in that time, what could any of us 'gather' that wasn't available to us before???

:Helicopter

that'd be me:
"Come Get It"

all generally thinking of course, but, it would be unimaginable, everything now available, for say, 30 days

let's see how many trillionaires we have at that point, and, who they would be...
 

ds_mustang

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I disagree with your premise. I believe you have confused yourself. IMHO.
If the entity (FedRes) "borrows" the money by selling bonds, perhaps some of what you wrote is correct.
They are not doing that. That stopped a while ago.
They are printing money (physical and digital) and buying the bonds from themselves through their creatures.
This is called brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.

Inflating the money supply.

View attachment 201028

Deflationary?

If so, I stand corrected. I don't believe it.

They are "debasing the currency" another term you don't hear anymore.

Are they fighting deflationary pressures? Of that I have no doubt.
You are correct that we've reached a point where we are buying our own debt via QE. However for the moment that money is not entering the economy, it sits in accounts at the Fed and is owned by the banks. But yes the line between borrowing money into existence and printing money into existence has been blurred, but we haven't completely crossed over yet. The world is still lending the US money. And our economy is still leveraged up with debts piled on debts. IMO eventually the debts are going to collapse in default and the US won't be able to even hold a façade of borrowing money into existence anymore. Maybe both happen at the same time. But until that cascade of defaults happens (which will be hyperdeflation), IMO there will be no hyperinflation. Gold bugs (and I am one of them) tend to want the collapse to go right to the hyperinflation phase, but I don't see how that can happen.
 

gringott

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Okay, whatever.
Meanwhile prices are skyrocketing all around me but my income went up 30 bux a month and I got .02 cents interest on my "savings".
If not for Credit and Debit cards etc, people would be walking around with wads of FRNs right now. Not folding money, WADS of FRNs.
 

ds_mustang

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Okay, whatever.
Meanwhile prices are skyrocketing all around me but my income went up 30 bux a month and I got .02 cents interest on my "savings".
If not for Credit and Debit cards etc, people would be walking around with wads of FRNs right now. Not folding money, WADS of FRNs.
Yep, that's from the government trying to "stimulate" us out of a deflationary problem caused by too much debt by going into even more debt.

But the amount of money they are QE'ing into existence is miniscule compared to the size of money in the economy that is going to vanish once the money-created-by-debt process reverses and we move into a money-destroyed-by-default process. They just keep kicking the can down the road to keep that from happening in the hope that somehow we see some economic growth to save us for another decade or two. And honestly I don't see what choice they have.

And it doesn't change that the only thing that makes sense as the world goes nuts, is to stack, stack, stack.
 
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solarion

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When we are all billionaires, we will be the slaves of the trillionaires.
Quadrillionaire said what?!?

"Egads! Stand aside foul peasants!"
 

Unca Walt

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Deflationary. Yep, if you think this reflects reality.
View attachment 201016

p.s. everything I track on my "wish" list has risen in price over that entire period. My consumer price index. A guess? At least 20% up to 40%.
This right here was one of my very best favorites.

1612551468344.png


We went from $5.99 tp $14.89 <-- Same company, same recipe, no change except the printed price on the box.
 

gringott

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Yeah, I am reconsidering stack stack stack.

Lot of effort to put it together for the biggest gang to take it away and spread it around.

It might be best to be "not a pot to piss in", at first at least.
For sure, "means testing" is coming.
Serious medical issues? Asset inventory and sell off.
It is only fair and they deserve it.
 

gringott

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This right here was one of my very best favorites.

View attachment 201030

We went from $5.99 tp $14.89 <-- Same company, same recipe, no change except the printed price on the box.
Dang! My wife has that in the deep freeze. I'm getting it out and running to the farmer's market.
 

solarion

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Don't forget to get supplies to build a lovely orange sauce.
 

gringott

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I did a web search on this phrase:

I'm trying to break my normalcy bias, cognitive dissonance and mental self interest gymnastics in order to think outside the box {coffin}.

I expected zero results.

Instead I got a lot.

Weird. Strange.

My favorites:

Indoctrinated Incoherence- An Institutional Theory of Traumatic Experience (about soldiers in Iraq).

Male roles, masculinities and violence: a culture of peace perspective (at the UNesco digital library)

The Art of Thinking Clearly (Bestseller).

Anyway, I placed some more bets, the big one on a limit price for PSLV. I tried to place a rational realistic price on it.

Hold the line.
 

Buck

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Yep, that's from the government trying to "stimulate" us out of a deflationary problem caused by too much debt by going into even more debt.

But the amount of money they are QE'ing into existence is miniscule compared to the size of money in the economy that is going to vanish once the money-created-by-debt process reverses and we move into a money-destroyed-by-default process. They just keep kicking the can down the road to keep that from happening in the hope that somehow we see some economic growth to save us for another decade or two. And honestly I don't see what choice they have.

And it doesn't change that the only thing that makes sense as the world goes nuts, is to stack, stack, stack.
print USN and propagandize how the FRN will still be accepted around the world while the USN will now be in circulation as well...

never tell anyone you're kicking the Fed out the door, in today's world, saying nothing seems to work...

it would be a 'transition' that couldn't be argued against by the Fed because that would expose their entire operation, slowly let them choke out...however, be prepared for 'counter-attacks'

BUT...

if the criminals were arrested, there would be limited 'counter-attacks' and those folks left over, those performing any 'counter-attacks' would soon end up in jail


J U S T I C E

even a blind man takes a piss yet we don't have any justice


we're ruined until we do...so, Happy Ruination Days:2 thumbs up:
 

solarion

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Sneaky wording written into the SLV's registration statement. Clearly drafted by a collaboration of bankers and lawyers. What could go wrong?

Posted by
u/ellipsoid1

14 hours ago

SLV Registration Statement - Do they really have your silver?

SLV Registration Statement - see link below
https://www.sec.gov/Archives/edgar/data/0001330568/000143774921000720/slv20210111_s3asr.htm
The following comes from the registration statement (page 2)
______________________________________________________________________
"An investment is shares is:"
"Backed by silver held by the Custodian on behalf of the trust."
"The Shares are backed by the assets of the Trust. The Trustee’s arrangements with the Custodian contemplate that at the end of each business day there can be in the Trust account maintained by the Custodian no more than 1,100 ounces of silver in an unallocated form. The bulk of the Trust's silver holdings is represented by physical silver, is identified on the Custodian’s or, if applicable, sub-custodian's, books in allocated and unallocated accounts on behalf of the Trust, and is held by the Custodian in London, New York and other locations that may be authorized in the future."
_______________________________________________________________________
Lets break this down:
  1. The investment is backed by more than one thing. See the colon (:) Then, two paragraphs follow.
  2. The first backing is "Backed by silver held by the Custodian on behalf of the trust." This is fairly straightforward forward right? It is backed by silver held - wait - it is held? Why didn't they say "Owned by the trust and held by the Custodian" or something like that with the word owned? This seems like there is some wiggle room. Is some of the silver leased? However, that is not all....
  3. The second backing is "The Shares are backed by the assets of the Trust." --- Notice that it says "assets" It does not say backed by "silver" -- So what assets are they talking about?
  4. "The Trustee's arrangements with the Custodian contemplate" -- That is curious. They are contemplating. Even they are unsure and are scratching their heads to figure it out. Gives them lots of wiggle room about the rest of the sentence where they say "no more than 1,100 ounces of silver in an unallocated form"
  5. "The bulk of the Trust's silver holdings is represented by physical silver," Wow. They use the work "bulk" what does that mean? 51%? Hmmm. Lots of wiggle room there.
  6. "is identified on the Custodian's or, if applicable, sub-custodiain's, books in allocated and unallocated accounts on behalf of the Trust, " Hmmm. That is curious. There are sub-custodians and both allocated and unallocated accounts are allowed. Also, it just says "identified" it does not say "owned by the Trust and held by the Custodian" or similar. This gives them even more wiggle room. Who's silver is really represented here and to whom is it allocated if it is in an unallocated account?
What did we learn? The registration statement contains so much wiggle room that no one not even the fund managers know because they "contemplate" about it. More than likely it means different things at different times depending on the circumstances.
Does this registration statement read like SLV really has your silver or will have it if things get tight?
Do your own research. This is not advice.

https://www.reddit.com/user/ellipso...v_registration_statement_do_they_really_have/

Assessing the value of a share of this thing is nearly impossible, as there's no go way to tell what they even hold at any given time.