It's not like the shale producers cannot be replaced.
Somebody will just buy up all the bankrupt companies, their leases, and their wells and keep pumping and keep drilling at an even lower break even point.
Doesn't Oil have to be $65 a barrel before Frackers can make any profit?
Depends on the producer and the basin.
GSAs, OBW rolls, Seated, Walkers. Anything old and Colorado-focused, CO nationals.
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
@air4mdc said:
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
Withdrew a rather large sum yesterday just in case we start seeing a run on cash like we recently have with toilet paper, Lysol, butter and beans. They were not able to complete the transaction with all $100's but were able to finish it off with $50's. Didn't appear to be an issue not to mention they are now firing up the printing presses to max capacity.
@air4mdc said:
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
Buried mine in the "Bank of the Lower 40".
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
Most of the branches in my area never have many hundreds. More likely to get a band of $20's than a stack of hundreds. I don't think I've ever seen a band of $100's in my branch unless someone ordered it.
@air4mdc said:
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
Buried mine in the "Bank of the Lower 40".
Me too, but I am getting ready to take out my shovel and grab all that cash to give to my stockbroker.
Unfortunately, Stockbrokers do not take cash so I got to do a deposit and then wire it.
@air4mdc said:
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
Buried mine in the "Bank of the Lower 40".
Me too, but I am getting ready to take out my shovel and grab all that cash to give to my stockbroker.
Unfortunately, Stockbrokers do not take cash so I got to do a deposit and then wire it.
Get a receipt. If I forget the location of my pile, some future soul can advertise it in a future auction as a discovered hoard.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
It's not like the shale producers cannot be replaced.
Somebody will just buy up all the bankrupt companies, their leases, and their wells and keep pumping and keep drilling at an even lower break even point.
Doesn't Oil have to be $65 a barrel before Frackers can make any profit?
Depends on the producer and the basin.
Just like the cost of mines to produce silver. It varies. And new mine production is only a portion of the silver produced each year. Much is produced from recovery, too.
Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
@shorecoll said:
WTI is at $22.50 that's probably killing a lot of asset classes.
Demand destruction and endless supply
m
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
@air4mdc said:
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
Withdrew a rather large sum yesterday just in case we start seeing a run on cash like we recently have with toilet paper,
Wouldn't a fifty do the job as well as a hundred?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
You only lock in a loss when you sell. When in doubt, the best thing to do is nothing. Of course, when things are this bad, buying opportunities present themselves. The trick is finding them. I go back to the Hunt brothers in 1979/80. I wouldn't recommend buying silver and gold as an investment. Too much risk and uncertainty. I do have a complete ASE album and I bought each coin a year at a time. The dollar cost averaging worked out pretty well. As for gold, I put together a 12 piece type set and I have some nice double eagles.
I recently saw an interview with a chairman of a local Federal Reserve Bank. He said we don't have to worry about pulling money out of the bank as the Fed can "just print more." So we won't run out of cash, it will just lose its buying power.
By the way, when Katrina hit people weren't looking for small silver coin or gold coins, they were looking for bottled water.
Comments
Is this a trick question?
I don't know yet.
I knew it would happen.
GVZ
45.27
VXSLV
84.00
With high yield spreads increasing. No thank you. That looks more like sell on rips, then buy on dips.
If the price of silver shocks you, just wait for your next 401k statement.
Depends on the producer and the basin.
Gonna get me a $50 Octagonal someday. Some. Day.
Coworker’s wife went to the bank today and cashed a checked and asked for all back in hundreds. The bank teller stated they were out of hundreds. I have heard people have been taking cash out of banks for the last couple of weeks.
Withdrew a rather large sum yesterday just in case we start seeing a run on cash like we recently have with toilet paper, Lysol, butter and beans. They were not able to complete the transaction with all $100's but were able to finish it off with $50's. Didn't appear to be an issue not to mention they are now firing up the printing presses to max capacity.
The whole worlds off its rocker, buy Gold™.
Buried mine in the "Bank of the Lower 40".
Most of the branches in my area never have many hundreds. More likely to get a band of $20's than a stack of hundreds. I don't think I've ever seen a band of $100's in my branch unless someone ordered it.
Me too, but I am getting ready to take out my shovel and grab all that cash to give to my stockbroker.
Unfortunately, Stockbrokers do not take cash
so I got to do a deposit and then wire it.
Get a receipt.
If I forget the location of my pile, some future soul can advertise it in a future auction as a discovered hoard.
Just like the cost of mines to produce silver. It varies. And new mine production is only a portion of the silver produced each year. Much is produced from recovery, too.
Saddle Ridge v.2
...hundreds are for marks...20’s are what make the streets turn round!
Paper silver almost broke $12...still not done I guess.
The government is about to print 2 trillion bucks out of thin air to mitigate the financial impacts of this crisis.
I would not wanna be holding cash right now. Metals? Dandy.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
My best WAG is it will likely drop below $10; and gold will continue to take some hits but not as bad.
But who knows? No way I know of to really predict, as this is a perfect storm taking place right now.
WTI is at $22.50 that's probably killing a lot of asset classes.
Demand destruction and endless supply
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I wish I had enough spare money to buy futures contracts and take delivery of the silver at $12/oz
I know. Crazy. I was talking to someone about this yesterday. It's probably the best way to get physical at spot.
No need to be shocked .
Cash is king so anything worth something is being dumped.....especially those that are leveraged.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
and if enough people did it, it would not be spot for long (any Hunt brother types in the crowd?)
Wouldn't a fifty do the job as well as a hundred?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Silver has rebounded, up to $13.85 at close.
But should we sell the rip if we didn't buy the dip?
You only lock in a loss when you sell. When in doubt, the best thing to do is nothing. Of course, when things are this bad, buying opportunities present themselves. The trick is finding them. I go back to the Hunt brothers in 1979/80. I wouldn't recommend buying silver and gold as an investment. Too much risk and uncertainty. I do have a complete ASE album and I bought each coin a year at a time. The dollar cost averaging worked out pretty well. As for gold, I put together a 12 piece type set and I have some nice double eagles.
I recently saw an interview with a chairman of a local Federal Reserve Bank. He said we don't have to worry about pulling money out of the bank as the Fed can "just print more." So we won't run out of cash, it will just lose its buying power.
By the way, when Katrina hit people weren't looking for small silver coin or gold coins, they were looking for bottled water.
ok ...... if that's the way they like to swing ........ I am for it
the Silver rally continues, now up to almost $15.25.