The Greatest depression is coming, are you ready?
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If this is really bankrupt people setting their buildings on fire we will see more of these fires in the future.i know a guy who likely burned down his garage when he decided to close it.
now, he was not convicted of it, but his house was near the garage, and the fire had been going for a while when he called the fire dept., and he had some cars in the garage that may or may not have been stolen and used for parts..
this was in the 90's, he would never get away with it today{ if he did it)
China Emergency: Hong Kong Buildings Ablaze — Hundreds Missing, Thousands Evacuate Amid Fire
Silver is in a breakout. Last time this happened it went from $4 an ounce to $50 an ounce. The way they got it under control was the made it illegal to buy silver, you could only sell. The problem with that is AI data centers, photovoltaics, EV cars, and missiles use silver. Apparently one of these Patriot missiles uses 1 kg of silver. Therefore they cannot prohibit the purchase of silver. Also the market is international, the US is not in charge of it.
https://www.marketwatch.com/investing/future/si00/charts?mod=mw_quote_advanced
Here is a picture of the spot price for silver over the last ten years. (Click on the 10yr button and then find 7/2022 on the graph). On this thread I recommended people buy silver in July of 2022. I was called "chicken little" for that. At least for awhile. No one says that anymore. Hmmm.
Here is a picture of the spot price for silver over the last ten years. (Click on the 10yr button and then find 7/2022 on the graph). On this thread I recommended people buy silver in July of 2022. I was called "chicken little" for that. At least for awhile. No one says that anymore. Hmmm.
Also, try looking at the 3 year performance of silver and compare it with the S&P 500. S&P is up 70% while Silver is up 168%. If you set silver to 0 then the S&P 500 is down 100% in the last 3 years. When the US dollar is worthless you will need to convert to silver or some other commodity. The money you had in the Stock market has lost half of its purchasing power relative to silver in the last 3 years since I made that recommendation.
He does a great job of explaining what is happening with Silver.
COMEX Just Triggered Its Own Margin Call—Silver Deliveries Are Eating the System | Andy Schectman
Right now the ratio of Paper contracts for silver to those who want to take delivery is around 200:1. Now to sell someone silver on paper you have to actually pay a lease rate for the silver. When silver didn't rise in price the lease rate was very close to 0 so it was easy to sell people silver, it didn't cost you anything. But now the lease rate is up around 7%! That is huge, all these people who have sold paper silver are now paying through the nose and so they are being forced to buy it back. Now as they buy it back the price climbs and so the lease rates also go up and if the lease rates go up more and more people are forced to buy it back. This is the death spiral.
Think of this as the first stage in a rocket ship taking off.
The second stage is all those people who have accumulated massive positions in silver over the last fifty years will be able to simply put up the silver they own as collateral for margin and they can double their position. Once you have cleared the decks of all overhang you can do this. The price will skyrocket and so you can immediately short it with a huge short position, four times what you bought causing the price to go much lower and making the volatility go crazy.
Let me show you the math.
You have 100,000k ounces of silver, put it on margin buy another 100,000k ounces of silver, so you now have 200,000k ounces of silver. The average price for the entire 200,000k ounces is 70$ but the price spikes to $100 at which point you can sell the 200,000k ounces you have and another 200,000k ounces you short, selling 400,000k ounces. Because everyone else is trying to jump on the bandwagon as you sell you do OK at first, but the average daily float is 200,000k ounces of silver, so there are not enough buyers for your 400,000k ounces sold and so the price does drop precipitously. You are unable to sell the first 200,000k ounces above an average price of $70 so you made a big profit on that, but then the price drops all the way back down to $50 where support kicks in and now you are in a position to buy 800,000k ounces of silver at a big discount as you ride this back up far beyond $100.
Now to have the original 100,000k ounces of silver you must own $5 billion worth of silver. This is central bank levels or hedge fund levels. However, if you acquired the first 100,000k ounces at an average price of $10 over the last thirty years then you spent $1 billion over 30 years, or 33 million a year, to get to $5 billion.
COMEX Just Triggered Its Own Margin Call—Silver Deliveries Are Eating the System | Andy Schectman
Right now the ratio of Paper contracts for silver to those who want to take delivery is around 200:1. Now to sell someone silver on paper you have to actually pay a lease rate for the silver. When silver didn't rise in price the lease rate was very close to 0 so it was easy to sell people silver, it didn't cost you anything. But now the lease rate is up around 7%! That is huge, all these people who have sold paper silver are now paying through the nose and so they are being forced to buy it back. Now as they buy it back the price climbs and so the lease rates also go up and if the lease rates go up more and more people are forced to buy it back. This is the death spiral.
Think of this as the first stage in a rocket ship taking off.
The second stage is all those people who have accumulated massive positions in silver over the last fifty years will be able to simply put up the silver they own as collateral for margin and they can double their position. Once you have cleared the decks of all overhang you can do this. The price will skyrocket and so you can immediately short it with a huge short position, four times what you bought causing the price to go much lower and making the volatility go crazy.
Let me show you the math.
You have 100,000k ounces of silver, put it on margin buy another 100,000k ounces of silver, so you now have 200,000k ounces of silver. The average price for the entire 200,000k ounces is 70$ but the price spikes to $100 at which point you can sell the 200,000k ounces you have and another 200,000k ounces you short, selling 400,000k ounces. Because everyone else is trying to jump on the bandwagon as you sell you do OK at first, but the average daily float is 200,000k ounces of silver, so there are not enough buyers for your 400,000k ounces sold and so the price does drop precipitously. You are unable to sell the first 200,000k ounces above an average price of $70 so you made a big profit on that, but then the price drops all the way back down to $50 where support kicks in and now you are in a position to buy 800,000k ounces of silver at a big discount as you ride this back up far beyond $100.
Now to have the original 100,000k ounces of silver you must own $5 billion worth of silver. This is central bank levels or hedge fund levels. However, if you acquired the first 100,000k ounces at an average price of $10 over the last thirty years then you spent $1 billion over 30 years, or 33 million a year, to get to $5 billion.