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As long as you're happy with your purchase Voodoo, that's all that matters.
I'm not trying to deflate you or put you down.
It's just a personal preference kinda thing.
I guess I'm a grumpy old man who refuses to pay a 12% premium.
 
Would have been nice to see GDX hold around 30 but on the bright side it is coming down on lower volume.
 
JayDubya said:
As long as you're happy with your purchase Voodoo, that's all that matters.
I'm not trying to deflate you or put you down.
It's just a personal preference kinda thing.
I guess I'm a grumpy old man who refuses to pay a 12% premium.
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That's a pretty darn low premium in my opinion. Especially for one of the nicest/highest quality sovereign mints. The days of buying coins at spot are long gone. We are into stacking what deals you can find. Soon that will be panic buying into whatever you can find. And not long after that it will be gone. Too bad so sad.

Well let me caveat that fact. You probably will be able to buy silver coins at spot again, if there is such a thing. But that price will be like $600 / oz. So forget the premiums, focus on the price you acquired it at. Or think of it this way. Spot price is COMPLETELY meaningless number. Ignore it.
 
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On the not so bright side the COT data is not friendly to the upside.


 
Voodoo said:
That's a pretty darn low premium in my opinion. Especially for one of the nicest/highest quality sovereign mints. The days of buying coins at spot are long gone. We are into stacking what deals you can find. Soon that will be panic buying into whatever you can find. And not long after that it will be gone. Too bad so sad.

Well let me caveat that fact. You probably will be able to buy silver coins at spot again, if there is such a thing. But that price will be like $600 / oz. So forget the premiums, focus on the price you acquired it at. Or think of it this way. Spot price is COMPLETELY meaningless number. Ignore it.
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I know people who bought Silver when Carter was President and they are underwater now. Give you one thing. You got a higher conviction rate than Judge Roy Bean.
 
Lancers32 said:
I know people who bought Silver when Carter was President and they are underwater now. Give you one thing. You got a higher conviction rate than Judge Roy Bean.
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I have an investors mindset. I don't give a damn where the price is next week. I know what the value is and where the price eventually goes. The more I get of that item the better. So it if plunges next week, fantastic, it's an even better value proposition. I put the silver price into the spreadsheet to see what its worth once a year.

Now, that makes for dangerous short-term trading mentality.
 
Voodoo said:
I have an investors mindset. I don't give a damn where the price is next week. I know what the value is and where the price eventually goes. The more I get of that item the better. So it if plunges next week, fantastic, it's an even better value proposition. I put the silver price into the spreadsheet to see what its worth once a year.

Now, that makes for dangerous short-term trading mentality.
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I do care about where the price goes this century. Once a year is short term?
 
As Lancers pointed out:
Silver down over 3%,
SIL down 1.9%,
SILJ down .95%.
That's not a bear market move right there. That's a bull market correction. Doesn't mean we turn around Monday, but shortly we'll be heading higher again.
 
Voodoo said:
I have an investors mindset. I don't give a damn where the price is next week. I know what the value is and where the price eventually goes. The more I get of that item the better. So it if plunges next week, fantastic, it's an even better value proposition. I put the silver price into the spreadsheet to see what its worth once a year.

Now, that makes for dangerous short-term trading mentality.
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Thats how I see EXK as well. 2025 is my outlook for making money on that stock. Until then I just keep buying and get my average as low as possible.
 
Lancers32 said:
I know people who bought Silver when Carter was President and they are underwater now. Give you one thing. You got a higher conviction rate than Judge Roy Bean.
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Which brings up the point that there is still money to be made in a sideways market. By simply purchasing silver futures at $22 and setting stops at $25 you can make an easy 10% every cycle.
 
Cigarlover said:
Thats how I see EXK as well. 2025 is my outlook for making money on that stock. Until then I just keep buying and get my average as low as possible.
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There is a big risk to all of the miners and several of the experts have pointed it out. Bix Weir in his last video talked about how much he liked Keith Neumeuer but noted all their mines in Mexico. He frankly thinks silver is too valuable and all of these mines will be nationalized.

Certainly a risk but the leverage is well worth it. Just have to remember to take some off the table during the run. Because that could happen quickly later on in the bull market.
 
Cigarlover said:
Everyone keeps predicting the end of the dollar. Show me the replacement. China, Russia, brics, swift, nothing even comes close.
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I’m partial to wampum beads and big stones with holes in them.
But the BRICS have this crazy idea of a Shanghai gold exchange and a monetary system parallel with SWIFT and gold backed currencies. Silly BRICS …
 
Not enough gold to back a currency with it. Fort Knox supposedly has 275 million ounces. Not even enough for 1 ounce per person in the US. Rumors are that china has about 2 1/2 times that amount but they have 4 times the population.
If they did back a currency with gold, the gold would end up in the countries that produce the most eventually.
Fractional reserve banking would also have to go the way of the DODO.
A book could be written on why a gold standard can't work. Not with how the monetary system is set up worldwide. Now, if we went back to an agrarian society where 90% of the people were in farming or basic needs type of businesses and you were basically bartering or using gold to transact, then you could make it work on a limited basis but would still need to revalue gold much higher. Since we live with a credit based system everything would need to change.
 

Bernie Madoff is long gone. The lawyers are going strong​

Fifteen years ago today

The case has been a windfall for Picard, 82, and his law firm, 1,000-lawyer Baker & Hostetler. Since Picard's appointment 15 years ago, they have been awarded more than $1.5 billion in fees, court records show.

The fees through November 2022 have amounted to nearly 17% of Baker & Hostetler's revenues in that time, according to a Reuters analysis of court records and law firm data from the American Lawyer — an unusually large proportion from one case for a firm its size.

https://www.reuters.com/legal/bernie-madoff-is-long-gone-lawyers-are-going-strong-2023-12-11/
 
I'd be curious to see where the mining stocks will trade once we retest the $1800 level in Gold. Due a short term bounce here for sure and I would be more inclined to buy on a day like this than to wait for a bounce. But I don't like the trade at this point so standing aside now. Careful anything can and does happen.
 
I think it's pretty telling where this economy is at the moment. Most places have the Maple Leafs for a bit more than I paid but they have one thing in common. The Random Year coins are Cheaper than the new minted coins by a significant margin. At Apmex its a $3.5 differential and SD is $1.6 on a small order size.

That tells me that they've seen some weak hands forced to sell some savings in this economy.
 
Joe Six Pack doesn't run this market. You selling gold coins in this market? How much is that gonna help pay those credit cards?
 
Lancers32 said:
Joe Six Pack doesn't run this market. You selling gold coins in this market? How much is that gonna help pay those credit cards?
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A gold coin would pay a Lot of bills. However, these are silver coins people must be selling. And they would definitely help someone keep their bills going for a bit longer. A couple coins would make minimum payments. Or scrounging some together to keep the tow truck away from Repo'ing your car.
 
A flurry of major central banks are set to make their final rate decisions of the year in a crunch week that will test market bets for rate cuts in early 2024.

The U.S. Federal Reserve on Wednesday will kick off what is poised to be a pivotal week, followed by a "Super Thursday" when the European Central Bank, Bank of England, Swiss National Bank and Norway's Norges Bank will all meet.

Policymakers at the central banks are broadly expected to hold interest rates steady, except for Norway's central bank which warned it would likely raise the cost of borrowing in December.

Investors will be searching for clues in the banks' statements on when rate cutting could start next year as inflation continues to fall away from its highest level in decades.
...
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www.cnbc.com

A crunch week for central banks will put rate-cut expectations to the test

Major central banks are set to make their final rate decisions of the year in a pivotal week that will test market bets for early interest rate cuts in 2024.
www.cnbc.com www.cnbc.com

I predict the Fed does not provide any guidance on a rate cut. The job isn't finished with respect to inflation. They will "hold the door".

 
Markets are confused over the odds of a U.S. recession, and "somebody has got it wrong," according to hedge fund manager David Neuhauser.

The CIO of Livermore Partners told CNBC on Monday that many investors are hoping for a "Goldilocks" scenario, in which the economy doesn't grow too quickly, or shrink too much.

"The outlook was, of course, that the Fed's going to look to be cutting rates because they see a soft landing approaching. And it looks like, on the surface, it is," he told "Squawk Box Europe."
...
"But at the same time, underneath the surface, you're seeing a lot of cracks," Neuhauser added.
...
"When you look at the oil … and you look at the gold market, that's telling you recession is in the front," he said. "But when you read the tea leaves in terms of what analysts are saying, economists are saying as far as the U.S. economy — that the soft landing is approaching. That's what, actually, the 10-year [Treasury yield] is telling you."
...
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More:

www.cnbc.com

'Somebody has it wrong' on U.S. recession risks as oil, gold and Treasurys diverge, fund manager says

Falling oil prices and rising gold prices indicate growing recessionary fears — but 10-year Treasury yields jumped Friday amid hopes of a soft landing.
www.cnbc.com www.cnbc.com

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Voodoo said:
A gold coin would pay a Lot of bills. However, these are silver coins people must be selling. And they would definitely help someone keep their bills going for a bit longer. A couple coins would make minimum payments. Or scrounging some together to keep the tow truck away from Repo'ing your car.
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Guess they been selling those Silver coins for the past 40 plus years huh? C'mon man. Look at CDE today though.
 
No, not sure where you are getting that. Clearly a lot of people are having a hard time now. If some of those have some saved silver that is tempting to sell if you have to. This is the definition of shaking out the weak hands before a big run.
 
I thought you have said that this is not true Silver pricing but paper manipulation. Which is it?
 
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