Silver Went Up in US Trading!

cladking

Watch for explosive action Sunday night and carrying on into Monday.

Silver is like a coiled spring with a lot of pent up energy. Current events are leading people to recognize that the real value of everything is psychological and nothing not even the faith and trust of the US government has a dime's worth of "intrinsic value". It is this sea change causing the physical shortage and the spreading demand will fuel a buying panic.

Either that or it will be down 50c Monday.

USMC_6115

Hoping for the "coiled spring!"

jmski52

There's a big poker game going on in D.C. over spending - only it's not about spending too much anymore. It's about not spending enough now.

One side says, I'll bet you $1.8 trillion and the other sider counters with, "I'll see your $1.8 trillion and raise you another $400 billion." Looks like they're just getting started right before the election.

Somewhere, there is a gazillion terabyte supercomputer that can't keep up with all the magic "money" that's being bandied about. Can you say, "wealth transfer?" Got something in the way of real assets?

johnny9434

Will be watching

derryb

@cladking said:
Current events are leading people to recognize that the real value of everything is psychological and nothing not even the faith and trust of the US government has a dime's worth of "intrinsic value". It is this sea change causing the physical shortage and the spreading demand will fuel a buying panic.

Yet faith in the invisible bitcoin is hitting highs. Unfortunately when one says "send me all my bitcoin," they just receive dollars.

ricko

Interesting... I did wonder about the rise on Friday... Looks like something brewing... stocks up, PM's up... Hang on, either something big, or, just a belch.... Cheers, RickO

jmski52

Spending programs never seem to get cut and the government budget details are now classified as "national security" and opaque, instead of open record. Doesn't seem right to me. No accountability, but what else is new?

cladking

@derryb said:

Yet faith in the invisible bitcoin is hitting highs. Unfortunately when one says "send me all my bitcoin," they just receive dollars.

The powers that be don't like cash because there might be uncollected taxes and they like to know what everyone is doing and buying. But they'll still need untraceable money for rich people and congress. Some people think bitcoin will be it.

derryb

Central banks are weighing their own digital currencies – this is what they could look like

The Bank for International Settlements and seven central banks published a report laying out some key requirements for central bank digital currencies, or CBDCs.

LukeMarshall

@derryb said:

Yet faith in the invisible bitcoin is hitting highs. Unfortunately when one says "send me all my bitcoin," they just receive dollars.

Okay, there is so much wrong with this statement... im just gonna leave this here

jmski52

they'll still need untraceable money for rich people and congress.

I keep forgetting that. I wonder how they'll construct a double standard for the rest of us.

derryb

governments will not allow cryptos to compete with their products.

cladking

@jmski52 said:
they'll still need untraceable money for rich people and congress.

I keep forgetting that. I wonder how they'll construct a double standard for the rest of us.

All governments use essentially the same technique; two tier currency. We have just such a system now where those with the most money enjoy more valuable money since it can be used for influence where a few paltry billion can't (except locally). The problem today is that large trails of cash and other instruments can (in theory) be traced to their source risking exposure. But a cryptocurrency that can only be converted to "regular dollars" in very large amounts stops the ability of anyone to trace the origin. Rich people can still use regular dollars at yard sales but they'll use the other version for moving large amounts. Poor people will still leave a paper trail on everything they buy and do. A little inflation will turn hundred dollar bills into an instrument that can't buy anything except a 20 year old bicycle pump. Of course twenty year old bicycle pumps are still a threat to the status quo since they may have twenty years of life left in them meaning the buyer wont have to buy a new one twenty times but soon enough all the old products will be gone. We'll all be intimately bound to an economy based on waste and destruction.

I believe the only reason they allowed bitcoin et al to operate all these years was to "legitimize" the concept of untraceable money. Obviously Bitcoin is illegal, unconstitutional, and used for fraudulent activity but still it was allowed., Now that everyone is used to it they'll shut down everyone else's cryptocurrency and start an official one.