Indian Silver Imports Set Record In 2022

Source: https://www.zerohedge.com/personal-finance/indian-silver-imports-set-record-2022
Published: Jan 24, 2023
Author: Tyler Durden
Post Date: 2023-01-24 18:52:09 by Horse
Views: 1248

The Indian government’s crackdown on the gold market has boosted silver investment...

Poster Comment:

India was playing fast and loose in ruble-gold payments for Russian oil. Over 30 tons of gold went into private hands. But this silver gain is good news because the cartel does not have as much money as Asian housewives.

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#1: TommyTheMadArtist    To: Horse (#0)

Getting your hands on physical metal in my area is costing me 10 bucks over spot which is asinine. It’s not 10 bucks over spot for the order, it’s 10 bucks over spot for every ounce. So those $34.00 Silver Eagles are $44.00. Which is asinine as hell.

TommyTheMadArtist posted on 2023-01-25 11:33:07   Reply   Private Reply

#2: Esso    To: TommyTheMadArtist, 4um (#1)

Getting your hands on physical metal in my area is costing me 10 bucks over spot which is asinine.

Last I looked, I think Au is running $100/oz over spot. Last time I turned in some coins to help a couple buddies out, Solly paid me over spot. He probably made one call and had a $700 profit before I got a cigarette lit in my truck.

I wouldn't be buying in this market.

Esso posted on 2023-01-25 11:46:43   Reply   Private Reply

#3: TommyTheMadArtist    To: Esso (#2)

Oh I am aware. It’s insane what people seem to think they can sell and buy it for. On one hand the spot price is 24 bucks. On the other, you’re paying for the premium coinage and of course the obligatory handling fee.

It’s all a scam I think.

TommyTheMadArtist posted on 2023-01-25 16:15:55   Reply   Private Reply

#4: Esso    To: TommyTheMadArtist (#3)

It’s all a scam I think.

I did OK so far. I went in pretty hard around 2009 when the financial crisis was in full swing. I've never been out of the money including premiums, shipping, etc.

I got lucky. I've doubled my initial investment, but taking over a decade to do it is a pretty piss poor ROI in that time frame. You'd need about a 100% return/yr to keep up with Bidet's inflation right now.

Esso posted on 2023-01-25 16:34:36   Reply   Private Reply

#5: TommyTheMadArtist    To: Esso (#4)

Not even a joke. I am in a pretty decent position right now after doing some pretty smart things.

TommyTheMadArtist posted on 2023-01-27 23:58:33   Reply   Private Reply

#6: Esso    To: TommyTheMadArtist (#5)

Not even a joke. I am in a pretty decent position right now after doing some pretty smart things.

Yeah, it's weird. The worse Bidet fucks shit up, the better I'm doing.

I suppose it's to be expected, I've been preparing for the end of the country for a long time.

Esso posted on 2023-01-28 11:29:16   Reply   Private Reply

#7: TommyTheMadArtist    To: Esso (#6)

I might be angry about how my parents failed to raise me or do all the things that parents are supposed to do, but I have to hand it to them. Their lack of parental capability has made it so that within a week after things go live, I will probably become a local warlord.

Telling you, I never thought I’d be this conflicted about how I feel the direction my country is going. On one hand, it’s turning into a shit show, and on the other, it’s setting the stage for financial and professional success. I suddenly understand how all those military industrial complex people are seeing the world as a giant buffet of opportunity and growth.

Like you said before. I need to simply sit back and let the world slide further into chaos and just reap the benefits of my training and my abilities. I have truly amazing friends who point things out, and appreciate every one of you.

TommyTheMadArtist posted on 2023-01-29 14:17:21   Reply   Private Reply