@@scram8188 JP Morgan paid 920m in fines for spoofing the silver markets. The bullion banks manipulate silver everyday. They short sell they have an incentive to keep prices low. Ever since they made that fake ETF SLV/GLD. Fake paper ETFs. The government has an incentive too to make precious metals not as valuable so everyone values their fiat. Question is how long till people find out and this shit gets reset. US government printed out 25% of the money supply this yr so imagine a country has 100m total money now we got 125m. Notice how bitcoin, stocks, etc. Go up and silver stay relatively the same. In times of fear and panic you'd think "oh people will buy silver/gold." Silver legit got so cheap right after covid makes no sense other than manip. Real questions are how long can the bullion banks keep manipulating? How long can the governments of all countries keep printing off more money for bail outs? Meanwhile don't mind China they're hoarding silver/gold. And they banned bitcoin.
Daniella and Peter, great interview! The question that didn't get answered ; while I understand the massive selling to cover margin calls drives the price of precious metals down - - then why isn't the massive demand to buy silver with very limited supply, driving the price back up? Many people are willing to pay more, but can't even buy it !
I wanted to buy some today. They just said call us back in 6 weeks to see if we have any. I did find one dealer but he wanted $35 per ounce. You think you got it bad in the U.S. 10 times worst in the UK.
No dealer is gonna sell silver at a loss; no investor would pay high enough premium for dealer not to taka a loss at current price drop. Result: No Sale. Thats what happened.
great questions, i really loved listening to this interview, as a new investor i find following this whole situation far more understandable and whats really going on.
Thank you Daniela, I'm very new to buying Silver and vintage coins. I've always loved Silver and I'm hoping to build a collection for my grandbabies. I've been worried about all this because I don't know anything about the markets and what might happen. I feel a little better about my Silver, after Pete said what he did. It's a scary time for a lot of people I guess. I'm subscribed now also. Thanks for the information!
I bought from Nevada Coin in Reno In United states and I paid $5 over spot for the silver American eagle and gold $60 over spot for the American eagle. . What I notice is a lot of gold coins missing in the glass case and I asked and they been selling a lot of gold. . I had no problems buying either gold or silver.
One major flaw in this analysis. The price of silver was so low prior to this meltdown that there are few mines producing silver. Most of the silver used in industry comes from production of other metals such as copper or zinc. If production of those metals falls due to a reduction in manufacturing, so does the supply of silver produced. Thus, a turndown in manufacturing should do nothing to effect the price of silver. On top of this, one third to one half of the world's supply of silver has been sold short on the COMEX. In addition, there's LESS silver in inventory than there is gold. Think there's a problem? Yeah, with these analysts.
Silver and Gold pretty much decoupled from the stockmarket now. If anything going in the opposite direction. No more margin calls I guess, and investors focusing on Silver as a precious/monetary metal more than a commodity. Plus reduced mining supply. Free to run up on sentiment now, as I see it.
Lost my a** on silver in the last economic downturn. Never again. It's a TERRIBLE asset. "Poor man's gold" but it is no gold. It's basically an industrial product, used mostly in manufacturing. Trades more like an industrial commodity than a "precious" metal.
Pete is way underestimating what's going on imo. You're not gonna have to wait 2 years to double the price of gold/silver. x10 in 2 years easily! Gold is near it's lowest point in history if you adjust for inflation. Nominal price and Value are 2 different things! But paper currency is gonna be worth much less too. 1oz of gold is gonna buy you a home! Base USD went from 800B to 4Tri back down to 3.5Tri since 2008; now they are gonna add another 4Tri in 2 months?! And that's just the beginning!
This is a short term deflationary situation due to no work production as long as people are hunkered down. Silver should explode when the economy heats back up.
5:20 “i wouldn’t be surprised if current 3% unemployment posted north of 10% in next two posting periods”. The real stats already indicate unemployment (based on 1980s formula, as they now use a ‘different formula’) at 8-12%, see John Williams at ShadowStats. Interestingly, the Fed Res just announced a few days ago they expect it to climb to 30%, while all the while they’ve been saying how well the economy is, how the repo market QE since Sept 17/19 isn’t QE and they’re just adding a “bit” of liquidity to “prevent” problems. This central bank cartel’s fiat garbage system must be brought down. Central banks should NOT be running economies, controlling interest rates nor creating money. And it’s an Easy fix, don’t use their product, paper debt notes in the currency of your choice, use REAL PHYSICAL ASSETS ONLY AS MUCH AS POSSIBLE. Their system will implode.
So demand is high and the actual product is in short supply, but the price goes down. This is criminal manipulation of the market. Buying and selling mythical precious metals ON PAPER!!!
So basically the dealers are making a killing. The buyers may end up in the same situation that we have always been in. The banks decide OK that’s enough let’s play with silver between $15.50-$18.50.
From what I have heard, silver is used alot in Industry and due to Covid less is being used. Yet once economy pics up again, lookout! People are buying as a buffer against uncertainty, expect $50.00 silver in 12 to 18 months.
Buy real estate and rent. Rents are always going up. I started buying silver at $36. All I feel is a loss especially when I listened to all their claims that silver is a precious metal and running out.
