$250 silver by end of 2021 and why I'll be right again.
Azurescens
Posts: 2,683 ✭✭✭✭✭
Texans have been without power and have had frozen pipes for days. Trees have uprooted water, fiber, electric. No utilities were buried deep enough because TX never freezes, so everyone is screwed. Local malls have power but some residents have had leaking pipes in their living room for days. One of their local leaders is gaslighting and victim blaming people for being in a disaster.
The market has already been cracking apart. Supply chains, mines, mints, USPS, election, civil stuff, gamestop, ebay managed payments, and very many retirements by a lot of patient people.
Wealth distribution is continuing to come to a screeching halt. Worse yet, there's no ammo, and food is sold out. Half of it should be failing modern quality control, anyway.
If I had to bet everything I had on a potential outcome, I believe we will see silver eagles sit where we saw $5 AGEs Nov19-Mar20. I believe this will be the "golden ratio"-esque correction that people have been waiting for.
It would only have to hit $150-$160 and people are already paying $220 for fancy 2021 plastic. This is my conservative estimate but $200 non PCGS type slabs will soon catch up.
If this trend continues like the past 9 months, fancy plastic will continue to lead the charge up to $250 1oz Ag. I believe we are accelerating and this silver problem is only getting worse, so the next jump will take substantially less time. We will have a LOT more slabs being sold because of new people and there will remain a large gap between generics and very expensive slabs. But I don't think that will really last for long as supply continues to dwindle.
Most Texans can't access ATMs right now at any of the banks that might still even be open, and they can't get cashback with their debit card because covid and no utilities and no stores. But you can buy food, drugs and even gamble with BTC or trade silver for a chainsaw.
Gold will stagnate relative to silver as people scoop up cheaper and more abundant silver, which is breaking out in the EV market and new solar panels that last 1000 years (and the clear ones that will replace every window in the world).
A new era of batteries and electronics is here, too.
Cheers, everyone, I hope this helps you get richer.
Comments
I have just lost all respect for Texas
My Saint Set
The nice thing about snow is that it melts eventually
I can’t imagine we would colapse our dollar and have silver prices go to the extremes you list over something that will be gone when the sun comes out.
Covid didn’t do it I doubt some ice will.
Texans have historically persevered through natural disasters. I would expect given a little time people will band together and help their neighbors.
I know a couple people in Texas and neither are panicking. They are working through it. Just like on an airplane. Put your oxygen mask on first then help the person/child next to you.
If that mayor said that he needs to step down. Crazy.
My Ebay Store
Could have a lot to do with entitlement expectations. The more one is given, the more one takes things for granted. Access always comes at a cost. . . to someone.
I know that my grandpappy never depended on the nanny state.
Concerning silver, I believe it actually went down.
Keep an open mind, or get financially repressed -Zoltan Pozsar
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One of my granddaughters lives in Houston....and they are just dealing with it... going on three days without power. As far as silver... it is presently down, but still well over 100% more than six or seven months ago.... and likely to go up again. Cheers, RickO
I'm not sure I understand how you're conflating a short-lived, understood, unpleasant but very fix-able anomaly with silver prices spiking. People won't be patching their pipes or installing new walls made of silver. The damage done is not entirely unlike the damage from a hurricane. Lots of ruined walls and insulation, lots of garbage.
But silver? I don't see it.
For what it's worth, it's going to be 70 degrees in Texas next week.
--Severian the Lame
I don't see a texas sized problem being as large as a united states sized problem. Weiss makes good points.
If anyone needs tips, I've been without power for a few days at -40 in the past, and expect to do so again some point in the future. I have the reverse problem - when it gets above +90 no one has AC, and the sun doesn't really set for a cool night.
No power no problemo. Typical Tejas cancel culture. Toughen up patty cakes. Back to the gutter it seems. Semper!
The whole worlds off its rocker, buy Gold™.
The thread OP makes me want to invest in 10 years worth of MRE's lol
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
If you really believe this I will sell you all of my silver at $100 an ounce today. This way you make a $150 an ounce profit in just ten months.
Azurescens.....I'll go one better....you can have all of mine for $74.99 per oz. To make is easy on you...in 2 installments.
If I had to bet everything I had on a potential outcome, I believe we will see silver eagles sit where we saw $5 AGEs Nov19-Mar20. I believe this will be the "golden ratio"-esque correction that people have been waiting for.
It would only have to hit $150-$160 and people are already paying $220 for fancy 2021 plastic. This is my conservative estimate but $200 non PCGS type slabs will soon catch up.
If this trend continues like the past 9 months, fancy plastic will continue to lead the charge up to $250 1oz Ag. I believe we are accelerating and this silver problem is only getting worse, so the next jump will take substantially less time. We will have a LOT more slabs being sold because of new people and there will remain a large gap between generics and very expensive slabs.
I have difficulty with your price projections and especially the notion that fancy plastic will influence any charges in silver pricing. I'd be interested in how that market mechanism works.
I knew it would happen.
Maybe I should buy your silver at $74.99 and sell it to Azurescens for $100 and we can all get rich!
You paid, boomer-troll-bots should take heed. I just read a Facebook post that the government weather satellites are blasting Texas with cold air to freeze them into submission. Your city could be next.
PS to the guys paying me to be here and suppress true information... Can I get a raise?
My Ebay Store
to the guys paying me to be here and suppress true information... Can I get a raise?
Can you provide justification & documentation for your proposed raise?
I knew it would happen.
Why not...I'm ready if you're willing.
I think you just might be right.
It's not about the snow. It's about people dying from lack of water and heat.
Climate change is not going anywhere. We have long surpassed the point of no return and even worst-case scenarios are playing out worse than anticipated. Our planet has to be fundamentally broken for this type of event to occur.
But they haven't.
I hope they're ok.
He's resigned.
Back on topic.
(I edited the vulgar language please let me know if I missed any, thanks.)
These are a string of images, not a single feed.
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We gone be rich, boys.
This is another string of images, not a single feed. Please let me know if I missed any vulgarity or if any breaks the rules.
$250 EOY silver.
Fancy plastic Krugs and Proof Eagles for $212-225. People will pay this same amount of money (which will be worth substantially less) or more, when nothing is left.
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https://mobile.twitter.com/looske74/status/1362696371317399553
You better be right, because I was on the verge to sell all my silver to get bitcoins.. ( not really, but what the heck).
Coinsof1984@martinb6830 on twitter
Trying to divine the silver market machinations by reading online posts is a fool's errand. The real information is sequestered by the major market players & corrupt regulators. You can't outguess them. You just can't. Play your own game, not theirs.
I knew it would happen.
Crazy. Best to be careful re what type of echo chamber you put your head into.
I've never in my life invested in anything because someone posted a chaotic, unverifiable image online.
--Severian the Lame
What about BM'sM ?
Fool me once... shame on you, fool me 6 or 7 times? Well, whattaya gonna do?
Click on this link to see my ebay listings.
Well now... If I distill all the copy/paste commentary, down to something actionable, - wait - What? There is nothing actionable...
Moving right along now.... Cheers, RickO
Still hasn't taken me up on my offer to buy my silver at $100 an ounce. Guess he doesn't really believe in $250 silver...
Silver $250 an ounce? That's low..
Just paid $500 for a 200 year old silver quarter, weights under 1/5 of an ounce.
So it's already over $2500 per ounce in some areas! 😂
Liberty: Parent of Science & Industry
I wonder if he'll make me an offer I can't refuse on a $1,000 bag of 90% I've got tucked away. If he makes it worthwhile, he can have the profits later on.....
Member ANA, SPMC, SCNA, FUN, CONECA