From the lowest dungeon to the highest peak I fought with the Balrog of Morgoth... Until at last I threw down my enemy and smote his ruin upon the mountain side... Darkness took me and I strayed away through thought and time. Stars wheeled overhead and every day was as long as a life age of the earth... But it was not the end. I felt life in me again. I've been sent back until my task is done.
You might be interested in the fact that Argentina, the country now governed by a man with a funny haircut and a chainsaw, has transferred her gold reserves abroad in the month of June - all öf'em, which is about 2 million ounces. Which led to headlines like
"The mystery of Argentina’s gold: Milei admits that it was transferred abroad, without specifying the quantities or destination" even though it was completely ignored by mainstream media. Ah well. That mainstream media.
Readers of this substack might have a suspicion what that was about. To quote from the movie "L.A. Confidential": Call it a hunch.
Well, there goes one more in a long list. Abject surrender to the Anglo American Empire. Sold out by weak and greedy leaders. I guess this was the price of Milie's election.
Canada nolonger dares to hold any gold, longer than the time it takes to load a Southbound truck. Australian politicians make feeble excuses for the Bank of England. Libya and Ukraine ask no questions at all.
"The news about the transfer of the gold was not officially announced by the government or the Central Bank. Rather, the information came from the bank workers’ union, known as La Bancaria. Its leader — the left-wing legislator Sergio Palazzo — presented a request within the framework of the Law of Access to Public Information for the Central Bank of the Argentine Republic (BCRA), asking “if there [were any] operations to send gold bars abroad during the month of June.” Specifically, he demanded to know if transfers of gold took place on June 7 and June 28 through Lumil — a private security firm that transports valuables — and British Airways"
I thought perhaps it was an American operation given the flavour of his government and buying un-needed American fighter jets, which Argentina can't afford??
I like it, even though it misses the mark by a bit:
Even with Gold's increasing production, Gold can never again be money, there is too much debt and Gold is simply not divisible enough to function as currency in the modern world. Silver could easily go this route as well in the future given the many sources of demand. But, I see the possibility of monetary demand being the next big driver for silver. At $100-200/oz. it would still be possible, if Silver demand didn't already outstrip production by 20%/year.
There are already gold and silver backed cryptocurrencies. That is how gold and silver can be divisible and convenient. You simply use a card like you can now, except your account consists of precious metals aka real money.
Technically you are right. If you trust the government and or the exchanges?
I suppose everything depends on the individual's pov.
It is foolish to expect security and outsized gains in the same package.
Precious metals will never make you rich, unless you are already very rich (And lucky!)
But, over the long term, they have held their purchasing power better than anything else?
Fun fact: If your family owns two ounces of pure gold, then you are "Middle Class". If currencies collapse, that could be comforting?
Till recently, I also dreamt of getting rich. Then I got a reality check and realized that I would rather be 'modestly' secure....If you work smart at that goal, it is achievable.
I think you are correct David. But 'To the Moon in terms of what? And how long would such value hold in the face of Hyper inflation. Everyone still needs food, shelter, and fuel....
Gold and silver are an inflationary hedge that need to be 'Re hedged' in terms of more prosaic goods. They are also highly dependant on some degree of social stability.
"Real" self sufficiency should also seek to free you from needing to trade.
My father in law was a hedge fund manager. She said the silver short story has been around for 40+ years. He wished me luck trying to 'time" this event.
LOL,,,How about the "Cash Settlement" options for the exchanges???
If investors and traders cannot redeem 'Physical' from the exchanges, then the two are utterly divorced.
For years I've heard rumours of miners being paid "Spot" prices for raw and impure gold? This is now supported by the Chinese buying Dore silver ingots from Mexico at above spot price and also, the premiums above spot being paid on the SGE.
One market is paper and propaganda, the other trades real metals... The Comex and LME provide financing to Miners by way of hedging. If prices skyrocket, the miners won't gain very much if anything?
Gandalf:
From the lowest dungeon to the highest peak I fought with the Balrog of Morgoth... Until at last I threw down my enemy and smote his ruin upon the mountain side... Darkness took me and I strayed away through thought and time. Stars wheeled overhead and every day was as long as a life age of the earth... But it was not the end. I felt life in me again. I've been sent back until my task is done.
Keep stacking!
Buy it all ! Today !
Is that even possible ?
Yes. But it would cost.
(Heavily inspired by the movie "Margin Call")
There is definitely a standoff and an interesting situation developing. The actors used to be involved now are committed in the this play.
You might be interested in the fact that Argentina, the country now governed by a man with a funny haircut and a chainsaw, has transferred her gold reserves abroad in the month of June - all öf'em, which is about 2 million ounces. Which led to headlines like
"The mystery of Argentina’s gold: Milei admits that it was transferred abroad, without specifying the quantities or destination" even though it was completely ignored by mainstream media. Ah well. That mainstream media.
Readers of this substack might have a suspicion what that was about. To quote from the movie "L.A. Confidential": Call it a hunch.
Well, there goes one more in a long list. Abject surrender to the Anglo American Empire. Sold out by weak and greedy leaders. I guess this was the price of Milie's election.
Canada nolonger dares to hold any gold, longer than the time it takes to load a Southbound truck. Australian politicians make feeble excuses for the Bank of England. Libya and Ukraine ask no questions at all.
The first thing thtat happened in Ukraine after the 2014 Maidan was Blackhawk helicopters flying in and leaving with Ukraine's gold.
That tells you what was a priority matter after Nuland / Soros overthrew the Ukrainian government.
Hints please? I was aware he did that but don't know the why.
Here's a quote:
"The news about the transfer of the gold was not officially announced by the government or the Central Bank. Rather, the information came from the bank workers’ union, known as La Bancaria. Its leader — the left-wing legislator Sergio Palazzo — presented a request within the framework of the Law of Access to Public Information for the Central Bank of the Argentine Republic (BCRA), asking “if there [were any] operations to send gold bars abroad during the month of June.” Specifically, he demanded to know if transfers of gold took place on June 7 and June 28 through Lumil — a private security firm that transports valuables — and British Airways"
"British Airways" should be enough of a hint.
Bank of England, or some (private) Roschild Bank?
I thought perhaps it was an American operation given the flavour of his government and buying un-needed American fighter jets, which Argentina can't afford??
Thanks for this. The long awaited reckoning appears to be close at hand.
Was this coincidence, or was someone being prophetic?: https://x.com/trumplasvegas/status/1275883895901179904?lang=en
"Gold is the standard, but Silver linings....."
I like it, even though it misses the mark by a bit:
Even with Gold's increasing production, Gold can never again be money, there is too much debt and Gold is simply not divisible enough to function as currency in the modern world. Silver could easily go this route as well in the future given the many sources of demand. But, I see the possibility of monetary demand being the next big driver for silver. At $100-200/oz. it would still be possible, if Silver demand didn't already outstrip production by 20%/year.
I really don't know what will happen?
There are already gold and silver backed cryptocurrencies. That is how gold and silver can be divisible and convenient. You simply use a card like you can now, except your account consists of precious metals aka real money.
Technically you are right. If you trust the government and or the exchanges?
I suppose everything depends on the individual's pov.
It is foolish to expect security and outsized gains in the same package.
Precious metals will never make you rich, unless you are already very rich (And lucky!)
But, over the long term, they have held their purchasing power better than anything else?
Fun fact: If your family owns two ounces of pure gold, then you are "Middle Class". If currencies collapse, that could be comforting?
Till recently, I also dreamt of getting rich. Then I got a reality check and realized that I would rather be 'modestly' secure....If you work smart at that goal, it is achievable.
I think you are going to be surprised.
Gold and silver have been suppressed with the London paper market for decades and are going to go off the leash due to shortage.
I think you are correct David. But 'To the Moon in terms of what? And how long would such value hold in the face of Hyper inflation. Everyone still needs food, shelter, and fuel....
Gold and silver are an inflationary hedge that need to be 'Re hedged' in terms of more prosaic goods. They are also highly dependant on some degree of social stability.
"Real" self sufficiency should also seek to free you from needing to trade.
Very, very, difficult.....
Gold and silver are money.
They have tremendous value especially when a currency crisis hits.
Stand by.
I wholeheartedly agree.
My father in law was a hedge fund manager. She said the silver short story has been around for 40+ years. He wished me luck trying to 'time" this event.
Don't blindly try to time the silver market. Follow the data showing increasing physical silver shortage. That ends digital price setting.
I think it will take the BRIC nations and "the unit" to break the camel's back of the COMEX and LBMA.
The silver market is doing it right now.
6 years and 1B+ oz of total silver bar deficits that are increasing.
Thx David
Support your point with data - how can the paper market continue with the building physical shortage.
LOL,,,How about the "Cash Settlement" options for the exchanges???
If investors and traders cannot redeem 'Physical' from the exchanges, then the two are utterly divorced.
For years I've heard rumours of miners being paid "Spot" prices for raw and impure gold? This is now supported by the Chinese buying Dore silver ingots from Mexico at above spot price and also, the premiums above spot being paid on the SGE.
One market is paper and propaganda, the other trades real metals... The Comex and LME provide financing to Miners by way of hedging. If prices skyrocket, the miners won't gain very much if anything?
There is no cash settlement for party-to-party cash contracts in London unless gov suspends common law / contract law.
Not like COMEX where cash settlement is written right into the COMEX Rulebook
Discussed here: https://jensendavid.substack.com/p/bailing-out-the-london-bullion-banks
Such an artificial situation already existed for many years with the "US Fixed Price" The rest of the World didn't trade gold for $20-35 equivalent.
http://www.chartsrus.com/charts.php?image=http://www.goldchartsrus.com/chartsfixed/600yeargold.gif
I kinda agree