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Stimulus payments equal 11 years of silver production.
cohodk
Posts: 18,622 ✭✭✭✭✭
So last year global production of silver was about 25000 metric tons or about 800 million ounces. At today price of $26 thats about $21 billion.
The big G said they've issued 90 million stimmy payments worth about $242 billion. Thats enough to buy over 11 years worth of mining production.
When are those billboards going up?
Excuses are tools of the ignorant
Knowledge is the enemy of fear
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That is the kind of information that most people cannot understand.... as they spend the money. Such things make many people just space out....."Duh... yeah... duh.... where's my money?" Cheers, RickO
Around 1/3rd of all the Dollars ever created in the USA were created in the last 52 weeks. Act accordingly.
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We've thrown well over $10 trillion at COVID over the past year and we're just getting started.
I agree with all of you. Nice to be surrounded by some awake people who pay attention and see what is coming! TY
Keep in mind it's been "coming" for 50+ years now. Don't hold your breath, and yes hopefully you are young and plan to live 500 years lol.
The whole worlds off its rocker, buy Gold™.
Blitz, What do you think gold will be worth in 500 years lol?
I'll be long gone but I'd guess around $50,000 Amero dollars / 1 million bitcoins per ounce. Perhaps even a couple cans of beans or even a stick of butter. Good Luck!
The whole worlds off its rocker, buy Gold™.
Great answer, lol! So it would be something like 150,000,000 Amero/BTC = 1 ounce pure gold? And I would imagine it would be an Avoirdupois ounce instead of Troy ounce by then. Too funny! Good luck to you too!
11 years and the reddit crowd couldn't buy more than 1 weekends worth of silver??!!??
Silver needs to hire the bitcoin marketing firm.
Knowledge is the enemy of fear
but bitcoins stack so much easier.
maybe we can get the descendants of the hunt brothers on board.
Randolph and Mortimer Duke!
I for one, am glad Dave is back.
Martin
They stack into the classic pyramid
Liberty: Parent of Science & Industry
The Treasury has now issued $325 billion in free handouts. Thats now enough to buy over 16 years of current silver production at todays price.
The $1.9 trillion stimmy pachage is the same as giving every man, woman and child 10 ounces of silver.
The silver market is so tiny. When will it grow up?
Knowledge is the enemy of fear
In the fall:
Give Me Liberty or Give Me Debt
/H #stimmy, thank you sirs may I have another? #LG (Life's good)
The whole worlds off its rocker, buy Gold™.
#LG until you own one.
you can blame bitcoin, but the failure of the wallstreetbets weekend doesn't help. even stackers don't like buying at these currently inflated premiums... I'm looking at $10 over for ASE on a $25 basis?? nuts.
(I may buy a bit before it rolls into T2, but that is a gamble not a stack)
people living paycheck to paycheck aren't buying silver either.
How many other factors are there?
when will silver shine? I'm waiting for comex to implode the federal debt bubble to explode.
high premiums are what is causing holders of paper (all types, including COMEX contracts) to demand their physical metal, they see a growing advantage (higher premiums) to having the real thing. The higher premiums go, the more paper owners will demand conversion/delivery. This is where bullion bank default will begin. And, like a bank run, it will spread like wildfire once started.
Ultimately it is high premiums that will break the chains holding down base (spot) price.
Give Me Liberty or Give Me Debt
Silver rocks. Pile it High and Watch it Fly.
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
As long as we can park rates at 0% and dump several trillion freshly created USD every year to keep things propped up we'll be fine.
But we all know what's gone on since 2009 can't be sustained. When it gives out and our bloated equity markets are routed then reality will set in. This greed knows no bounds and won't be satisfied until the goose is fully cooked.
The whole worlds off its rocker, buy Gold™.
Blitz, that is awesome! I have no words to add!
But wait there's more. Biden is talking 5 Trillion more in infrastructure + other "Equity" programs.
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Our Costa Rica exit plan is in play....