JimGilmore
Well-known member
time will tell....
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Silver is Going Crazy!!
- Thread starter Sand Sifter
- Start date
Sand Sifter
Well-known member
Why's that? What's worrying you?
Ohio pull tabs
Well-known member
Cause when silver and gold go up our dollar is losing buying power.
Sand Sifter
Well-known member
Our dollar has been losing buying power for a long time, that's why IMO, Silver & Gold are such great investments and is why I converted my 401K dollars over to Silver & Gold. While the dollar contracts and devalues, Silver & Gold values are rising. I feel confident and safe with Silver & Gold, the dollar, not at all.
Ohio pull tabs
Well-known member
I'm still buying. But our dollar collapsing I'm not to thrilled about. I would like to see everything get stable
Sand Sifter
Well-known member
Don't worry OPT, our country is in the process of moving away from fiat currency and reverting back to a Gold/Silver backed currency, should be in 2026. Once we revert back to Gold/Silver backed currency, we should see stability that we haven't see in a long time. Oh, and we'll also be getting new bills instead of the green ones we currently have. When that happens, everyone with current dollars will be able to exchange those fiat dollars for the new bills.
Ohio pull tabs
Well-known member
I hope you are right
Sand Sifter
Well-known member
Everything will be fine, better than ever in the history of our country.
sprchng
Well-known member
The dollar is losing value to Au/Ag but not so much to other items , at least at this point. The FED will maintain a little inflation regardless because of this idiocy that it is required for growth but as long as it doesn't eat into a persons real buying power its tolerable. Look at things as if the Au/Ag are really just catching up to the inflation we have already experienced and it makes more sense. The manipulation is being driven out just like Ted Butler was preaching for 35 years , wish he had lived to see it. It will correct mightily to that true "caught up with inflation" number eventually in the final reel but the climax could be spectacular!!
JimGilmore
Well-known member
Will the country embrace the gold and silver standard ? As much as people think it is going that way I think the bottom is going to drop out on the dollar. Our neighbours are making deals around us and other countries are refusing to accept the dollar. Time will tell...
Seems to me economics 101 (supply/demand) is dictating the price of silver now. There is a huge supply deficit due to solar, AI data centers, EV's, solid state batteries, medical devices, etc. Apparently Samsung is looking into purchasing a silver mine to bypass the exchanges because they know the exchanges are being drained. Contracts are standing for delivery, not just rolling over.
Not sure if this is true, but on the Shanghai exchange, the price of silver in dollars is $77. There is a $5 spread between the COMEX and Shanghai...never has that spread been that wide.
Gonna be interesting to see what the silver price will be 6-12 months from now.
Not sure if this is true, but on the Shanghai exchange, the price of silver in dollars is $77. There is a $5 spread between the COMEX and Shanghai...never has that spread been that wide.
Gonna be interesting to see what the silver price will be 6-12 months from now.
Picketwire
Well-known member
Does anyone think we have enough gold to back our multi trillion dollar debt or even our fiat currency? I'm not an economist, please educate me.
sprchng
Well-known member
The idea that we will return to a gold backed dollar is total nonsense and a dollar was actually made of .775 ounces of silver at a time when the supply was up to the demand. The gubmint isn't about to let the dollar be backed by anything it does not have complete control over , look at the issues bitcoin has faced and now it is under regulation as well. China began buying silver mines 15 years ago , I think Silvercorp(SVM) is one of their larger producers and I have a little of it that has been languishing for a decade but about to get very profitable. I think you all should buy as much of it as you can afford so I can sell mine with a large profit.
Answer to question is no, we are not going back on a gold standard (or a silver standard). The dollar is not dropping drastically against world currencies either. Sure there is some fluctuation. Our neighbors are not "making deals around us", we are negotiating with virtually everyone for most favorable terms and being very successful at that too. The only countries refusing to accept the dollar are Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan and Uzbekistan. Do you see any similarity in that list?
Sand Sifter
Well-known member
Sorry TVR, don't know where you got your information but that's not correct. The conversion back to a gold standard has been in process for some time, and new bills have been created to replace the green fiat currency. The U.S. had been on a gold standard up until around 1971 when the global elites & central bank convinced the Gov't that they could/should run the currency. Pretty cute of them to call themselves the "Federal Reserve" because there's nothing Federal about them. When people see "Federal Reserve", it sounds like it's part of our Gov't but it's not. Trump is actually in the process of eliminating the Fed Reserve and replacing with gold/silver backed currency, like it had been all throughout the history of our country prior to 1971.
Sand Sifter
Well-known member
This is getting deliciously insane, lol. Silver closed yesterday at $72oz & change. Due to Christmas activities, I’ve been moving around to various family gatherings so wasn’t checking the market.
Just got back from dinner and it was over $74, I didn’t even get to see it go to $73, lol. Then as I was typing this up and making a screenshot, it had risen over $75oz. So, closing yesterday at $72 and up over $75 today, Silver has risen over $3.00 oz in just 1 day.
This is a VERY Merry Christmas indeed!!
Just got back from dinner and it was over $74, I didn’t even get to see it go to $73, lol. Then as I was typing this up and making a screenshot, it had risen over $75oz. So, closing yesterday at $72 and up over $75 today, Silver has risen over $3.00 oz in just 1 day.
This is a VERY Merry Christmas indeed!!
Read the history of it and why we will remain off the gold standard on the Federal Reserve Bank of St. Louis web page. Heritage Foundation Project 2025 talks about returning to the gold standard, but that is not realistic with the amount of gold being produced by the US and what it would cost to buy from other nations to be able to back all the dollars in circulation and held in reserve let alone start to cover our debt. Just not going to happen.
Ohio pull tabs
Well-known member
Just hit 75.23 a oz