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  • July 27, 2020 at 7:01 PM #819001
    scaredyclassic
    Participant

    [quote=Coronita]gold, silver, platinum prices up again.

    1864, 22.79,905[/quote]

    Quick run up. Does it mean anything.

    July 27, 2020 at 7:15 PM #819002
    gzz
    Participant

    It means panic buying. From 15 to 26 in 2.5 months!

    Inflation adjusted high is 149 in 1981. It was 30+ for most of 2010-2012. It could go a lot higher.

    It is hard to value. It can be mined in Mexico for $5/oz, but those mines are in terminal decline and new mines are $18 and up. Solar panel makers will pay $100/oz if they have to, but will also invest R&D to find cheaper alternatives. X-ray film uses a lot of silver, but if it gets too high poorer countries especially will switch to digital. And private investors treat silver as a Giffen good, they want more as the price rises in violation of the axiomatic law of demand.

    July 27, 2020 at 7:45 PM #819003
    scaredyclassic
    Participant

    Im scared to buy slv, but not gld.

    Inflation adjusted gold high is 2600

    July 27, 2020 at 8:52 PM #819004
    gzz
    Participant

    Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.

    A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.

    A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.

    I don’t believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn’t there.

    July 28, 2020 at 7:03 AM #819007
    The-Shoveler
    Participant

    [quote=scaredyclassic]Im scared to buy slv, but not gld.

    Inflation adjusted gold high is 2600[/quote]

    My trailing stop is still running on SLV, Goldman Sacks is saying Sliver likely to hit 30 maybe.

    It drops to around 15 again I will start nibbling at SLV slowly. Not a buyer at these levels either but that is just me.

    July 28, 2020 at 8:04 AM #819008
    scaredyclassic
    Participant

    The psychology of numvers intrigues me. Why are we drawn to 2000? Why is it a destination. Why not 2026? It feels like numerology or phrenology. Dow 30000. Etc. The number has no intrinsic meaning

    July 28, 2020 at 8:07 AM #819009
    scaredyclassic
    Participant

    [quote=gzz]Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.

    A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.

    A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.

    I don’t believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn’t there.[/quote]

    Im a contrarian dope, but not very far off the plantation. I dont believe in the system, but i believe in electrons. And sec filings, and various trusts and pledges and so forth. Inconsistent gadfly

    July 28, 2020 at 9:02 AM #819010
    Coronita
    Participant

    But real gold coins are pretty 🙂

    July 28, 2020 at 9:29 AM #819011
    scaredyclassic
    Participant

    For fondling, perhaps, if you belie e in matter..

    But i dont believ e there is any physical reality.

    I firmly believe we are living in a computer simulation run on alien computers.

    July 30, 2020 at 8:10 AM #819032
    Coronita
    Participant

    Big earnings day today for Tech. Hopefully Tim Apple will deliver good news, lol

    July 30, 2020 at 9:08 AM #819033
    The-Shoveler
    Participant

    Got stopped out SLV yesterday (last few shares).

    IMO If stocks take a hit Silver/Gold likely to follow (for a little while anyway).

    July 30, 2020 at 2:09 PM #819034
    Coronita
    Participant

    tech earnings coming in good. Apple 4:1 stock split. Go Tim Apple, Go!

    July 30, 2020 at 3:50 PM #819036
    gzz
    Participant

    “ But i dont believ e there is any physical reality.
    I firmly believe we are living in a computer simulation run on alien computers.”

    The first part is right, reality is mental (subjective idealism). See the work of George Berkeley for details. The second part is wrong. We exist as ideas in the minds of ourselves, others, and of God.

    July 30, 2020 at 4:05 PM #819037
    The-Shoveler
    Participant

    Albert Einstein once quipped, “Reality is merely an illusion, albeit a very persistent one.”

    July 30, 2020 at 4:45 PM #819039
    scaredyclassic
    Participant

    G-d is likely to be an alien computer program, which is plain common sense, when you really think on it.

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