Gold and silver prices are down

Trafficdiver said:
Ok big mouth. You just made yourself look like a fool. Now you are going to pay for it

I'll bet you a monster box of Canadian Maples 1 oz silver coins you can't get delivery of 50,000 oz of physical silver from iSLV.

I'll put it in escrow with Ken from Boston Bullion and we will wait 3 years. If you can get 50,000 oz from iSLV then you can keep the box.

If you can't then you owe me a monster box of silver.
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Sorry, I can't free the funds for 50,000 ounces. 10,000 ounces as you originally proposed from PSLV and you're on. Have your escrow agent contact me.

Trafficdiver said:
Bro?
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I apologize for the one-time typo.
 
Parker Schreiber said:
That ticker is SLV, not iSLV. ISLV is a dead company named International Silver, Inc.
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I wasn't refering to the ticker I was refering to the name of the fund

iSLV is Ishares Silver trust. Their ticker is SLV. When I saw your ISLV I assumed that's what you were talking about so I matched it
Their silver is stored in the London Vaults of JP Morgan, allegedly

PSLV is Sprott Physical Silver trust. Their ticker is PSLV. Now that I see you mistyped it we are on the same page.
Their silver is stored in The Royal Canadian Mint Vault.

Going forward I will refer to the ticker or SLV and PSLV and not the name of the fund.
 
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Trafficdiver said:
That's fine. As long as you're willing to accept fiat currency and not physical silver you're fine.

The issue is that the value of fiat currency will eventually go to $0. At that point you can have $trillions in savings but you won't be able to buy a tee shirt with it.
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Even so, if the goal were to have the most metal, it's not obvious that avoiding fiat investments today is the optimal strategy for tomorrow. I've kind of learned this the hard way over the last few years, at least in hindsight.
 
meh said:
Even so, if the goal were to have the most metal, it's not obvious that avoiding fiat investments today is the optimal strategy for tomorrow. I've kind of learned this the hard way over the last few years, at least in hindsight.
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You're assuming there will be any physical metal left tomorrow.

Have you ever heard the term unobtanium? That's what you might get if you don't buy it today.
 
Trafficdiver said:
You're assuming there will be any physical metal left tomorrow.

Have you ever heard the term unobtanium? That's what you might get if you don't buy it today.
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A think a market squeeze as derivatives and positions unwind versus the earth's crust being virtually bereft of economically obtainable silver are different eventualities, with probabilities of occurring over any given time horizon. The squeeze is, for someone, a financial calamity waiting to happen, but as a holder of physical silver, you have to sell into a squeeze at some point to benefit from it, since prices will eventually fall back down. This is something I've always wondered about. If silver spikes to $100, who is going to be able to cut you a check for 20K ounces?
 
meh said:
you have to sell into a squeeze at some point to benefit from it,
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Just because the dollar has existed for your life does not mean it has always existed, nor does it mean that it will always exist.

You do not have to sell into it. There was never a good time to sell a Gold Mark for a Deutsche Mark after 1918. It was better to keep it and find a foreign currency to deal with. Any conversion to a DM would have been pissing your gold away.

Its similar to silver now. Sure you can trade it for dollars, but what if it keeps rising and dollars keep falling? You had better get back in silver quick! Are you fast enough to time the dips?
 
meh said:
Even so, if the goal were to have the most metal, it's not obvious that avoiding fiat investments today is the optimal strategy for tomorrow. I've kind of learned this the hard way over the last few years, at least in hindsight.
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So what is the optimal strategy???

:-)
 
meh said:
A think a market squeeze as derivatives and positions unwind versus the earth's crust being virtually bereft of economically obtainable silver are different eventualities, with probabilities of occurring over any given time horizon. The squeeze is, for someone, a financial calamity waiting to happen, but as a holder of physical silver, you have to sell into a squeeze at some point to benefit from it, since prices will eventually fall back down. This is something I've always wondered about. If silver spikes to $100, who is going to be able to cut you a check for 20K ounces?
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Whatever I have I'll not likely sell. Unless prices get obscenely high.

The kids will inherit it and get a stepped up cost basis. They know I have it. They know where it is. They have access to the safety deposit boxes should I get run over by a bus. And they have been taught why I keep PM's around just in case.

I give each grand child an ounce of gold when they are born. And another ounce each bday. My oldest daughter didn't understand why.

I asked her if I gave them $100 today, and they put it in the bank until they are 18, what would they be able to buy with it. She knew prices would rise and the buying power of the dollar would fall.

Then I suggested that gold was a decent hedge against inflation, and more so protection against wonky times in this country and world. During the recent price run up in gold she has started to see the light.

My oldest granddaughter turns 4 this year. This will be her fifth ounce of gold. I've made it clear if I do get run over by a bus each grandchild should be given enough gold American Eagles so they all have the same amount as the oldest grandchild.

In January I bought 4 gold eagles for the grandkids. It's getting expensive but I want them to have that as a security blanket.
 
richc said:
Whatever I have I'll not likely sell. Unless prices get obscenely high.

The kids will inherit it and get a stepped up cost basis. They know I have it. They know where it is. They have access to the safety deposit boxes should I get run over by a bus. And they have been taught why I keep PM's around just in case.

I give each grand child an ounce of gold when they are born. And another ounce each bday. My oldest daughter didn't understand why.

I asked her if I gave them $100 today, and they put it in the bank until they are 18, what would they be able to buy with it. She knew prices would rise and the buying power of the dollar would fall.

Then I suggested that gold was a decent hedge against inflation, and more so protection against wonky times in this country and world. During the recent price run up in gold she has started to see the light.

My oldest granddaughter turns 4 this year. This will be her fifth ounce of gold. I've made it clear if I do get run over by a bus each grandchild should be given enough gold American Eagles so they all have the same amount as the oldest grandchild.

In January I bought 4 gold eagles for the grandkids. It's getting expensive but I want them to have that as a security blanket.
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That's awesome, it's great that you can do that, we have 3 grandsons all in the past 2 years, and we do every little bit we can to build up their nest eggs.
Some lucky grandkids you have.
 
In God We Trust said:
Silver has been doing jack shit ever since I bought in. This seems to be the story of my life when it comes to investing. I’m probably gonna buy a couple hundred ounces in the near future just for fun, but I don’t see it going up any time soon.
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Don't give up the faith. You are on the right side of history and someday the manipulation will stop and silver will be allowed to find it's true price.
 
richc said:
Whatever I have I'll not likely sell. Unless prices get obscenely high.

The kids will inherit it and get a stepped up cost basis. They know I have it. They know where it is. They have access to the safety deposit boxes should I get run over by a bus. And they have been taught why I keep PM's around just in case.

I give each grand child an ounce of gold when they are born. And another ounce each bday. My oldest daughter didn't understand why.

I asked her if I gave them $100 today, and they put it in the bank until they are 18, what would they be able to buy with it. She knew prices would rise and the buying power of the dollar would fall.

Then I suggested that gold was a decent hedge against inflation, and more so protection against wonky times in this country and world. During the recent price run up in gold she has started to see the light.

My oldest granddaughter turns 4 this year. This will be her fifth ounce of gold. I've made it clear if I do get run over by a bus each grandchild should be given enough gold American Eagles so they all have the same amount as the oldest grandchild.

In January I bought 4 gold eagles for the grandkids. It's getting expensive but I want them to have that as a security blanket.
Click to expand...
Would you be willing to adopt an elderly grand child???
 
zboys said:
That's awesome, it's great that you can do that, we have 3 grandsons all in the past 2 years, and we do every little bit we can to build up their nest eggs.
Some lucky grandkids you have.
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Yup, I am grateful I can do this.

Grandchild #2 is sitting beside me right now. She turns 3 in April. We watch her on Thursdays. And she has a new baby brother coming in a month or so. That'll be our first grandson.

Every year we rent a big AirBNB or VRBO on a lake or ocean for everyone to get together. It is true bedlam but so much fun for us to see all the kids and grandkids interact. And helping to create memories for them.

And we visit them often. These visits and time together are what I live for!

:-)
 
richc said:
Yup, I am grateful I can do this.

Grandchild #2 is sitting beside me right now. She turns 3 in April. We watch her on Thursdays. And she has a new baby brother coming in a month or so. That'll be our first grandson.

Every year we rent a big AirBNB or VRBO on a lake or ocean for everyone to get together. It is true bedlam but so much fun for us to see all the kids and grandkids interact. And helping to create memories for them.

And we visit them often. These visits and time together are what I live for!

:-)
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My nieces get cool metal from me too, but not that much. That's grandparent gold there!
 
richc said:
Yup, I am grateful I can do this.

Grandchild #2 is sitting beside me right now. She turns 3 in April. We watch her on Thursdays. And she has a new baby brother coming in a month or so. That'll be our first grandson.

Every year we rent a big AirBNB or VRBO on a lake or ocean for everyone to get together. It is true bedlam but so much fun for us to see all the kids and grandkids interact. And helping to create memories for them.

And we visit them often. These visits and time together are what I live for!

:-)
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It's amazing the pleasure we get with grandbabies. that is why we sold my business and packed up and moved to TN. My 3 boys are all here, we talked before about my youngest, he's SF and deployed 3 weeks ago to Syria. We're going to spend a week with his wife and 9 month old tomorrow
 

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