I keep thinking, just how bad are things going to get in the next few years? I remember a similar feeling in 2008. What should have happened then, has been delayed until now. Soft landing? Yeah, like a huge meteor slamming into the earth. I just cannot see a possible scenario where the whole system doesn’t collapse. Gold & Silver will help, but it is not going to be pleasant for anyone. Just less worse for some. The ironic thing is most people will be totally blindsided in spite of all the warning signs.
I recognize silver as money in of itself, its innate function supported by many eons of history, secular and biblical. In fact, the oldest recorded transaction was with silver, to which the Bible attests, is found in Genesis 23:1-20, wherein Abraham directly buys a burial place for his departed wife, Sarah, using silver as the medium of exchange, i.e., money. He didn't offer promises of payment or sell a paper contract with a certain number of ounces written on it.
And the Bible has this to say about him: Gen 13:2 "And Abram was very rich in cattle, in silver, and in gold."
Presently, in its suppressed state, I see silver as dormant money waiting to come to life again, reborn. Freely allowed to function in its rightful place as natural and lawful money is when I believe we shall see its true value emerge with a vengeance, with unimaginable purchasing power, in proper alignment with gold.
Don't be fooled, ALL original wealth is found in or upon the ground. How or why should real and honest riches be calculated any different today than in Abraham's time a few millennia ago? They are the result of work or energy which has already been done or expended to obtain it, refine it, grow it, or build upon it, etc. Silver and gold best express this like no other form of wealth in their utility to function as money, being the standard against which all else is measured.
Today's banking establishment, via all their debt instruments, stands in stark opposition and is based upon work promised to be done in the future, and not by them but by us of course, with usury on top.
P.S. I hope you don't mind my essay-like comment, but your writing has got me fired up, especially this last one..
Are the bullion banks seperate entities to the large International banks? Just wondering what happens if the bullion banks collapse 🤔 Do they bring the big banks along for the ride or are they quarantined?
And apart from BB existential losses, they will face ginormous lawsuits for risk management gross negligence by every stakeholder except the regulators who were supposed to regulate. They will also be named.
No one will be perpetual walked.
I expect rule changes, national security issues raised by pols and regulators. Likely blame heaped on 1 or 2 bad banks holding much of the derivatives for failure to hedge. Maybe a couple execs to club fed for a couple years while every USG insider, major donor, profits by holding real silver.
E.g. Pelosi bought over $1M in oom leaps when that run first began.
How does $PSLV fit into this? Black rock has bought a couple blocks in the last year or 2, converted 1 as I recall.
There will be some "crisis" and the digital claims will be cash settled, say +/- 10% of the market price today and then a new physical market will emerge. The state won't let the banks (which control them) face that problem of out of control liabilities...
I am a new bee here and to finace stuff, but what do the Royal Mint mean then when they say the following
"giving them access to the properties and security of owning physical gold without the need to arrange for storage and insurance separately. These gold-backed funds seek to combine the flexibility and ease of stock-market trading with the benefits of physical gold ownership."
In June I bought 10 one-ounce silver coins as gifts for grandchildren’s future birthdays and Christmas presents. The price crashed and hasn’t recovered since, so I’m rather skeptical about the prospects.
Don't give up. Forget about it and don't keep checking to see if the price has risen. Just wait until things start going nuts then take a look. Then you'll remember why you bought when you did
I used to do the same, every day. It drove me crazy. Now I just sit back. I know it's coming. Too many very smart people are saying it is so for it not to be right. 👍
I keep thinking, just how bad are things going to get in the next few years? I remember a similar feeling in 2008. What should have happened then, has been delayed until now. Soft landing? Yeah, like a huge meteor slamming into the earth. I just cannot see a possible scenario where the whole system doesn’t collapse. Gold & Silver will help, but it is not going to be pleasant for anyone. Just less worse for some. The ironic thing is most people will be totally blindsided in spite of all the warning signs.
There are 25B oz. of silver above ground. As silver reprices based on supply/demand it will become an incredibly valuable asset for the populace.
Thank you David. There is only one way this ends, and the world will gnash it's teeth at missing out on the opportunity of a lifetime.
I recognize silver as money in of itself, its innate function supported by many eons of history, secular and biblical. In fact, the oldest recorded transaction was with silver, to which the Bible attests, is found in Genesis 23:1-20, wherein Abraham directly buys a burial place for his departed wife, Sarah, using silver as the medium of exchange, i.e., money. He didn't offer promises of payment or sell a paper contract with a certain number of ounces written on it.
And the Bible has this to say about him: Gen 13:2 "And Abram was very rich in cattle, in silver, and in gold."
Presently, in its suppressed state, I see silver as dormant money waiting to come to life again, reborn. Freely allowed to function in its rightful place as natural and lawful money is when I believe we shall see its true value emerge with a vengeance, with unimaginable purchasing power, in proper alignment with gold.
Don't be fooled, ALL original wealth is found in or upon the ground. How or why should real and honest riches be calculated any different today than in Abraham's time a few millennia ago? They are the result of work or energy which has already been done or expended to obtain it, refine it, grow it, or build upon it, etc. Silver and gold best express this like no other form of wealth in their utility to function as money, being the standard against which all else is measured.
Today's banking establishment, via all their debt instruments, stands in stark opposition and is based upon work promised to be done in the future, and not by them but by us of course, with usury on top.
P.S. I hope you don't mind my essay-like comment, but your writing has got me fired up, especially this last one..
Keep hitting the target, David!
Thanks Kevin. Agree. Good to get it out. ;)
Are the bullion banks seperate entities to the large International banks? Just wondering what happens if the bullion banks collapse 🤔 Do they bring the big banks along for the ride or are they quarantined?
There will be knock-on to the parent corps. Also, interest rates will soar as the paper market's fraud is revealed. Gold competes with bonds.
And apart from BB existential losses, they will face ginormous lawsuits for risk management gross negligence by every stakeholder except the regulators who were supposed to regulate. They will also be named.
No one will be perpetual walked.
I expect rule changes, national security issues raised by pols and regulators. Likely blame heaped on 1 or 2 bad banks holding much of the derivatives for failure to hedge. Maybe a couple execs to club fed for a couple years while every USG insider, major donor, profits by holding real silver.
E.g. Pelosi bought over $1M in oom leaps when that run first began.
How does $PSLV fit into this? Black rock has bought a couple blocks in the last year or 2, converted 1 as I recall.
I would be careful with equities given the precarious state of our banks. Equities are a derivative of the gold and silver that they mine.
Classic Jensen...........keep it coming!!!!
Robert
Hah - thanks Bob!
Hi David
Are gold ETCs better than ETFs royal mint says their ETC is fully backed by the gold in their vault. 🍻
IMO anything but holding metal directly is holding a derivative with attendant risks.
There will be some "crisis" and the digital claims will be cash settled, say +/- 10% of the market price today and then a new physical market will emerge. The state won't let the banks (which control them) face that problem of out of control liabilities...
We'll see - the best laid plans ...
I am a new bee here and to finace stuff, but what do the Royal Mint mean then when they say the following
"giving them access to the properties and security of owning physical gold without the need to arrange for storage and insurance separately. These gold-backed funds seek to combine the flexibility and ease of stock-market trading with the benefits of physical gold ownership."
https://www.royalmint.com/invest/goldetc/
Is this a lie or clever meaningless words backed by legalese?
It's a promise from the mint.
Trust them?
In June I bought 10 one-ounce silver coins as gifts for grandchildren’s future birthdays and Christmas presents. The price crashed and hasn’t recovered since, so I’m rather skeptical about the prospects.
Don't give up. Forget about it and don't keep checking to see if the price has risen. Just wait until things start going nuts then take a look. Then you'll remember why you bought when you did
Good advice, - thanks Mitch! 😊
I used to do the same, every day. It drove me crazy. Now I just sit back. I know it's coming. Too many very smart people are saying it is so for it not to be right. 👍
I didn’t understand how it was possible to manipulate precious metal markets, so you’ll find this very interesting:
“Gold Wars” - The Battle Against Sound Money As Seen From A Swiss Perspective
By Ferdinand Lips. Courtesy of FAME at: https://academy.saifedean.com/wp-content/uploads/2023/03/Lips-Gold-Wars.pdf
Thanks for posting that Mike - my friend Larry Parks at FAME has been a longstanding advocate of sound money.
Gold Wars is a must read (for everyone! - not just gold and silver investors)
Thank you too David, for an interesting and educational thread. 😊
Cheers Mike