And then some + I'd almost guarentee that China now having done this - Russia will follow suit pretty rapidly and then in turn the rest of the ' BRICS Club ' in time honoured fashion
I have been reading for the past five years that China will be backing their Yuan with Gold but have yet to see it. Where did you read this? Wishful thinking or spreading mis information ?
Guess I'll just have to buy some more then. Nearly Fiat payday with a bucket load of overtime to exchange. Damn I love a delivery day. Seeing all my hard work locked up in coins or bars makes me happy. ☺️
PRE .....BLOODY .....CISELY ......!! - Briliant & right over the target , you've again nailed this one in the same peerless fashion as you have everything else ....Truly great work .
Wow, gold is back to ~$3200/oz from close to $3500, and silver took a %1.7 hit (numbers as of AM 6/28). All this amidst major geopolitical tension (??), though things have settled down somewhat between Israel and Iran from the brink of all-out war last week. What do we make of this? A "buy the dip" moment...and could that be the rationale for why the price is down (price manipulation to present a window for institutions/funds/whales to stack more metal)?
Looks like the optimism is back on for the September futures contract and beyond. I know little about futures contracts. Does that indicate that traders expect problems to be resolved by September settlement?
What do you think is driving the current backwardation? Seems to be happening from time to time, now, but never with much of a visible effect. Also, once delivery is taken, does that metal is pretty much permanently gone, or does some of it regularly come back into the system later? In other words, do those taking the metal during backwardation perhaps just hold it until the “all clear” signal arrives, then sell it massively back into the market after contango has returned and futures prices have risen sufficiently to net a nice profit? Could that be partly how the metal always magically appears as needed after backwardation and the vaults being drained? Another level of wash, rinse, repeat? Is that possible? Am I making sense, here?
Another question: what should we make of Elon Musk wasting tons of silver like it’s going out of style, on failed AI/aerospace/satellite projects? On the world’s militaries burning up millions of tons of unrecoverable silver in endless conflicts? On the drive to tie up millions of tons of silver -some permanently - in pursuit of “clean, green” nuclear energy? Yet nobody seems to care? Yes, the price is being manipulated down to keep this all affordable, but extinction is forever. And everyone who uses silver seems to think (or at least acts like they think) the supply is literally endless. Maybe a little more expensive, but always available when needed. It’s like another version of frontier mentality. Any clue as to why the insanity? Or am I all wrong about the sentiment out there among industrial silver users?
China just announced a gold backed yuan. That’s enough to make the washing machine spin even faster.
And then some + I'd almost guarentee that China now having done this - Russia will follow suit pretty rapidly and then in turn the rest of the ' BRICS Club ' in time honoured fashion
I have been reading for the past five years that China will be backing their Yuan with Gold but have yet to see it. Where did you read this? Wishful thinking or spreading mis information ?
https://youtu.be/fiTbPrYyQN8?si=c1o7TdK1_sBqPtvC
Guess I'll just have to buy some more then. Nearly Fiat payday with a bucket load of overtime to exchange. Damn I love a delivery day. Seeing all my hard work locked up in coins or bars makes me happy. ☺️
We're all happy for you as well - " Keep on a Stackin " ( and at pace ) , .
The picture of an out of breath ,& very sweaty one armed organ grinder comes to mind .
PRE .....BLOODY .....CISELY ......!! - Briliant & right over the target , you've again nailed this one in the same peerless fashion as you have everything else ....Truly great work .
Wow, gold is back to ~$3200/oz from close to $3500, and silver took a %1.7 hit (numbers as of AM 6/28). All this amidst major geopolitical tension (??), though things have settled down somewhat between Israel and Iran from the brink of all-out war last week. What do we make of this? A "buy the dip" moment...and could that be the rationale for why the price is down (price manipulation to present a window for institutions/funds/whales to stack more metal)?
Looks like the optimism is back on for the September futures contract and beyond. I know little about futures contracts. Does that indicate that traders expect problems to be resolved by September settlement?
What do you think is driving the current backwardation? Seems to be happening from time to time, now, but never with much of a visible effect. Also, once delivery is taken, does that metal is pretty much permanently gone, or does some of it regularly come back into the system later? In other words, do those taking the metal during backwardation perhaps just hold it until the “all clear” signal arrives, then sell it massively back into the market after contango has returned and futures prices have risen sufficiently to net a nice profit? Could that be partly how the metal always magically appears as needed after backwardation and the vaults being drained? Another level of wash, rinse, repeat? Is that possible? Am I making sense, here?
Another question: what should we make of Elon Musk wasting tons of silver like it’s going out of style, on failed AI/aerospace/satellite projects? On the world’s militaries burning up millions of tons of unrecoverable silver in endless conflicts? On the drive to tie up millions of tons of silver -some permanently - in pursuit of “clean, green” nuclear energy? Yet nobody seems to care? Yes, the price is being manipulated down to keep this all affordable, but extinction is forever. And everyone who uses silver seems to think (or at least acts like they think) the supply is literally endless. Maybe a little more expensive, but always available when needed. It’s like another version of frontier mentality. Any clue as to why the insanity? Or am I all wrong about the sentiment out there among industrial silver users?