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01-30-2021, 08:56 AM
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#1
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Registered User
Join Date: Mar 2001
Location: Wisconsin
Posts: 1,819
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silver
Has anyone put money into silver allocation via bullion vault - I am about to take some money out of the bank savings which pays almost nothing and put it into bullion vault per recommendation of Neil Mccoy Ward -- Any suggestions - comments - pros - cons
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01-30-2021, 10:43 AM
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#2
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Registered User
Join Date: Jan 2009
Posts: 214
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Silver
It carried the Lone Ranger a long way
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01-30-2021, 11:31 AM
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#3
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by stuball
Has anyone put money into silver allocation via bullion vault - I am about to take some money out of the bank savings which pays almost nothing and put it into bullion vault per recommendation of Neil Mccoy Ward -- Any suggestions - comments - pros - cons
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Not wanting to rain on your parade, but Silver is stuck at the same level it was 8 years ago, and more than 50% lower than 10 years ago. Having said that, IF it can rise above the monthly closing high of August, 2020 of 28.59, then I think it has a chance of going up. Bullion, generally sells for a generous percentage above spot prices.
https://schrts.co/uWCpGtVJ
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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01-30-2021, 11:40 AM
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#4
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
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Quote:
Originally Posted by FakeNameChanged
Not wanting to rain on your parade, but Silver is stuck at the same level it was 8 years ago, and more than 50% lower than 10 years ago. Having said that, IF it can rise above the monthly closing high of August, 2020 of 28.59, then I think it has a chance of going up. Bullion, generally sells for a generous percentage above spot prices.
https://schrts.co/uWCpGtVJ
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up until yesterday, i would have told you that silver was going to be $200 by next week. they stopped the Robin Hoods and Reddits from buying SLV. i also think that $200 is still cheap for silver whenever it gets there. i am probably the only guy that you will ever meet that called for oil to go to ZERO a year before it went to negative $37 . unfortunately i can't tell you when the silver goes above $200, but it will get there, i promise that. it might be right after Bitcoin goes to $150,000.
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01-30-2021, 12:53 PM
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#5
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Registered User
Join Date: May 2011
Posts: 22,451
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How does SLV turn into buying silver? There are not people arbitraging between this and silver futures?
I see JP Morgan is holding their silver bullion.
If people keep buying, could there be spikes near expirations of the silver futures?
Last edited by davew; 01-30-2021 at 12:55 PM.
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01-30-2021, 02:32 PM
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#6
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
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Quote:
Originally Posted by davew
How does SLV turn into buying silver? There are not people arbitraging between this and silver futures?
I see JP Morgan is holding their silver bullion.
If people keep buying, could there be spikes near expirations of the silver futures?
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supposedly, and i use that word with caution, SLV has to buy or sell physical silver based on the open interest of their shares. you will find the same thing with GLD as well ... i believe the GLD and SLV has to back their paper asset with 70% of it in physical. GLD owns 40 million ounces of gold, while SLV owns 325 million ounces of silver..
i understand where you are coming from with the question. if these retail traders buy SLV and run it, will there be enough silver in the world to cover what they bought? now that one is a good question, i have no answer for it!
i would say, this government will never let these guys run silver. i don't think they are going to let them keep running the stocks that they have run as well.
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01-30-2021, 03:07 PM
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#7
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Registered User
Join Date: May 2011
Posts: 22,451
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so when I buy SLV, there is not a seller on the other side like stocks and exchange takes place, but a new one is formed.
There are closer to 600 million ounces of silver owned now (they say).
https://www.ishares.com/us/literatur...heet-en-us.pdf
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01-30-2021, 03:20 PM
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#8
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
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Quote:
Originally Posted by davew
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yes, they just print up more shares as demand comes in, and then they supposedly go out buy silver to back the stock. hypothetically they can print up more stock than there is silver in the world, or they could stop taking new orders.
SLV is shortable just like any other stock. if they create a shortage of silver, the miners may hold back selling the silver waiting for a higher price as well.. as you can see, this has the ability to create one big mess and disrupt all markets.
by the way, there are plenty of other silver and gold etf's throughout the world that the US government would have no control over.
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01-30-2021, 03:25 PM
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#9
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
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i just thought of this, last week they only held 325 million ounces, now 600. who is going to sell their slv now if they know that brokerage firms won't let you buy any more?
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01-30-2021, 03:40 PM
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#10
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Registered User
Join Date: Apr 2008
Location: Louisiana
Posts: 5,597
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Quote:
Originally Posted by lamboguy
i just thought of this, last week they only held 325 million ounces, now 600. who is going to sell their slv now if they know that brokerage firms won't let you buy any more?
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Which, in essence is very similar to what happened in game stop.....
low float equates to much higher prices if there was a run to buy silver....
In the case of game stop, there was and is still a HUGE short position. Last c checked, it was near 121% shorted. Any runs on buying would cause the shorts to either have to cover there by driving the prices even higher....
I wouldn't be shocked to see GME hit 1k soon.
After reading some of the reddit post on GME, those who have pushed this say they are holding no matter what. If thats truly the case, the price has no where to go but up!!!!
__________________
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men,deriving their just powers from the consent of the
governed.
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01-30-2021, 04:42 PM
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#11
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
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Quote:
Originally Posted by newtothegame
Which, in essence is very similar to what happened in game stop.....
low float equates to much higher prices if there was a run to buy silver....
In the case of game stop, there was and is still a HUGE short position. Last c checked, it was near 121% shorted. Any runs on buying would cause the shorts to either have to cover there by driving the prices even higher....
I wouldn't be shocked to see GME hit 1k soon.
After reading some of the reddit post on GME, those who have pushed this say they are holding no matter what. If thats truly the case, the price has no where to go but up!!!!
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good points
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02-12-2021, 05:25 PM
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#12
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Registered User
Join Date: Jan 2010
Posts: 2,176
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SLV
[I] Quote:
Originally Posted by FakeNameChanged View Post
Not wanting to rain on your parade, but Silver is stuck at the same level it was 8 years ago, and more than 50% lower than 10 years ago. Having said that, IF it can rise above the monthly closing high of August, 2020 of 28.59, then I think it has a chance of going up. Bullion, generally sells for a generous percentage above spot prices.
Quote:
Originally Posted by lamboguy
up until yesterday, i would have told you that silver was going to be $200 by next week. they stopped the Robin Hoods and Reddits from buying SLV. i also think that $200 is still cheap for silver whenever it gets there. i am probably the only guy that you will ever meet that called for oil to go to ZERO a year before it went to negative $37 . unfortunately i can't tell you when the silver goes above $200, but it will get there, i promise that. it might be right after Bitcoin goes to $150,000.
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SLV seems to be taking a 6 month breather, and stuck in a sidetrend. SLV has not risen above the Aug closing high of 27.00, on Aug 10,2020. It still looks moderately stronger than GLD, which has been tracking down from almost the same date in August.
SLV:
https://schrts.co/xNnbQnWG
GLD:
https://schrts.co/RJMihMgP
I'm avoiding both of them while this market is still uptrending.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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