Silver Futures Spike Above $23, "Has Long Way To Go"

Source: https://www.zerohedge.com/markets/silver-futures-spike-above-23-has-long-way-go
Published: Jul 22, 2020
Author: Tyler Durden
Post Date: 2020-07-22 08:52:18 by Horse
Views: 1115

...the canary is dropping dead."

Poster Comment:

Apmex 90% Silver Coins - $10 Face Value $190.48. It takes $1.25 of 90% silver to make one ounce So $10 in silver coins weighs in at 7.15 ounces of pure silver.

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#1: hondo68    To: Horse (#0)

It takes 14 dimes at 0.0715 oz each to make one ounce of silver.

So, $1.40 face value of 90% silver = one ounce.

The FED reserve & The Presidents Working Group on Financial Markets (the Plunge Protection Team), have brought us into The Greatest Depression ever.

Taxing Joe Sixpack & Jane Soccermom, by printing $Trillions of dollars of increasingly worthless Federal Reserve Notes is just not working anymore.

It has gotten to the point where people are hording coins because at least they have some metal in them, which has got to be worth more than paper dollars.

The ponzi scheme has collapsed & the Shit has Hit The Fan.

Thank President Donnell Trump, Larry Kudlow & lil' Stevie Mnuchin the money printer.

hondo68 posted on 2020-07-22 10:33:22   Reply   Private Reply

#2: Horse    To: hondo68 (#1)

Not their fault. This was there long before they arrived. I see Food Shortages, Nationwide Food Riots and the destruction of American cities. I will vote for Trump over Biden and Michelle or Hillary.

Horse posted on 2020-07-22 10:58:25   Reply   Private Reply

#3: hondo68    To: Horse (#2)

They've had nearly 4 years to fix it and have only made it worse. FAIL

Warp Speed destruction of America = Trump.

hondo68 posted on 2020-07-22 11:01:35   Reply   Private Reply

#4: StraitGate    To: hondo68 (#1)

Yes, the $Trillions lately conjured will undoubtedly accelerate the devaluation of FRNs; it has to.

But I'd bet there's not 1 person in 1000 who is hoarding US coins because of that. There are better things than coins to hoard when facing imminent hyperinflation.

StraitGate posted on 2020-07-22 11:21:08   Reply   Private Reply

#5: BTP Holdings    To: StraitGate (#4)

But I'd bet there's not 1 person in 1000 who is hoarding US coins because of that. There are better things than coins to hoard when facing imminent hyperinflation.

My Dad was living in Senior building. He had a small satchel with rolls of 90% silver coins, quarters, dimes and halves.

He was getting coin magazines in the mail. You know that in those types of buildings they put the magazines on a shelf near the mail boxes.

He would not lock his apartment door. Some guy that worked there got in his apartment, found the coins and stole them.

It served him right for not locking his door. :-/

BTP Holdings posted on 2020-07-22 11:41:52   Reply   Private Reply

#6: NeoconsNailed    To: StraitGate (#4)

For instance?

NeoconsNailed posted on 2020-07-22 12:18:02   Reply   Private Reply

#7: BTP Holdings    To: StraitGate (#4)

There are better things than coins to hoard when facing imminent hyperinflation.

BTP Holdings posted on 2020-07-22 12:28:55   Reply   Private Reply

#8: Horse    To: hondo68 (#3)

Politicians face a death penalty for even talking about doing anything you demand. You are not being reasonable. Politics is the art of the possible. What you want can only be achieved through Civil War.

Horse posted on 2020-07-22 12:38:56   Reply   Private Reply

#9: Lod    To: StraitGate (#4)

There's no reason to hoard post-64 coins that I know of, they have no more intrinsic value than our paper bills.

Lod posted on 2020-07-22 13:01:31   Reply   Private Reply

#10: hondo68    To: Lod (#9)

they have no more intrinsic value than our paper bills.

Copper & Nickel are worth more than paper, so there is more intrinsic value in cupro-nickel coins.

hondo68 posted on 2020-07-22 13:14:37   Reply   Private Reply

#11: BTP Holdings    To: Horse, hondo68 (#8)

Politicians face a death penalty for even talking about doing anything you demand. You are not being reasonable. Politics is the art of the possible. What you want can only be achieved through Civil War.

That's telling him. I have him on Bozo filter so I cannot see what he is saying.

Remember the Civil War started in 1860 over State's Rights. Slavery was not an issue until Lincoln issued the Emancipation Proclamation in 1863, and that only freed the slaves in the rebellious states. ;)

BTP Holdings posted on 2020-07-22 13:22:51   Reply   Private Reply

#12: Lod    To: hondo68 (#10)

here's a melt value calculator

www.coinflation.com/coins/1982-2007-Lincoln-Cent-Penny-Value.html

Not many will be hoarding for those prices, or at least I won't.

Lod posted on 2020-07-22 13:42:44   Reply   Private Reply

#13: StraitGate    To: NeoconsNailed (#6)

Anything that will hold value better than the depreciating currency. Gold and silver are the classics. Real estate was a pretty safe bet for most of the last 40 years, but probably not so safe now, as civilized neighborhoods are being systematically sullied.

As far as other things: Primarily things that you yourself will need (buy now before the price goes up, especially expensive things like a vehicle), and also -- if you're so inclined -- things that you can later sell at an inflated price or barter.

In a hyperinflation scenario, where people are struggling to survive, basics will sell better than luxuries. You could sell a decent used pickup truck for say $8000 easier than an almost new one for $50,000.

But there some risk in being the neighborhood have-it-all guy; thieves will try to break through and steal. You know, go all South Africa on you and your loved ones. Especially if you're selling guns, ammo, liquor, and food.

StraitGate posted on 2020-07-22 13:52:32   Reply   Private Reply

#14: NeoconsNailed    To: StraitGate (#13)

Right -- I've lived my entire life in anticipation of this evil time. One of the reasons I'm still living in a forgettable-looking hovel on 1/10 acre.

NeoconsNailed posted on 2020-07-22 14:06:42   Reply   Private Reply