Silver @ $25+ on the 25th of December...
joeykoins
Posts: 17,571 ✭✭✭✭✭
Merry Christmas guys. I can't recall Silver ever priced at $25 on Christmas Day, EVER! I checked in the archives of Silver on the 25th of December dating far back even? It just goes to show you, this year,2020, is by far the most strangest year of ALL. LOL. 
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.1
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??? A quick check shows silver was over $25/oz. in 2012, 2011 & 2010. Didn't look any farther back.
“Over” and “at” are two different things
Nothing is as expensive as free money.
It may have been 25 bucks in 1979......If not, it was awfully close.......
Thread title: Silver @ $25+ on the 25th of December...
Current silver price (Kitco): $25.77
Lol. Sorry, I placed the + for the change after the $25. Lol.
MERRY CHRISTMAS
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.with the industrial demand silver will have with the economy picking up, i can see 35/ounce silver by late 2021
I was hoping hoping for a dip before a climb, but I've got enough where a climb would work too - merry christmas yall
smh...
I've been hearing that for over 40 years. Maybe this time is different...
Silver will be over $50 very soon ........at least according to an article that I have recently read.
Apparently, that only counts if it happens on the 50th of January.
You know what they say; "Silvers works in mysterious ways." RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Once every 30 years they are correct...briefly.
Numerical coincidences often get noticed....particularly by coin collectors or people with OCD...but I repeat myself.
Cheers, RickO
so your saying that manufacturing went below 40 percent capacity like this year for the past 40 years? it's never happened by the way
That's not what he's saying. He's saying that every year someone says that silver or gold are ready to TAKE OFF!
A return to normal, by the way, would be a return to 2019 when the price of silver was how much?
we also spent 3 trillion since 2019 and the spending is far from over> @jmlanzaf said:
we also spent 3 trillion since 2019 and the spending is far from over
That's a different argument than manufacturing capacity.
You can keep changing the argument, but the conclusion remains speculative.
The reasons change somewhat, but for 40 years I've heard that "This time is different."
I know there are literally TONS of silver in private hands in the US alone.
I remember the lines of people outside of coin shops in 1980. Higher prices will draw silver out of the hoards and limit price gains.
I asked my stock broker about precious medals and she said most of her clients were looking at the likes of Bitcoin as a hedge against a falling dollar.
Hundreds of thousands of tons.
And the higher the price of silver, the more silver gets recycled which caps future gains.
The other piece of the inflationary puzzle people forget is that a falling dollar inflates the price of EVERYTHING priced in dollars. That includes, as you mention, things like Bitcoin. But it also includes more traditional investments like stocks. There's no reason, other than panic, for the price of PMs to inflate faster than the price of the S&P 500.
It's also worth mentioning that people have been saying that "inflation is right around the corner" since the 2008 financial crisis and yet we remain in a deflationary spiral. Being 10 years early with a call is no better than being 10 years late.
Most estimates of all "known" gov't. vaults, ETF's, and other stockpiles of silver is about 3 billion ounces, less than one-half ounce per person in the world. That is less than 100,000 metric tonnes. That figure of 3 billion does include all the known hoards in government vaults, exchange funds, and industrial stockpiles.
Estimates are 1 to 2 million tonnes have been mined over the past 5,000 years, and so there is a lot that has been "lost". Last year 27,000 tons were mined.
It does not take much new demand to move the price, because the amount people that are are willing to sell currently at $25 is relatively small, compared to the billions of dollars available.
I have no problem buying silver coins now, as they look nice and are not too expensive...like a Monty Python shrubbery.
My US Mint Commemorative Medal Set
I don't get this deflationary spiral comment, and this is not a slight on jmlanzaf's comment above. This is what the govt and the Fed keeps telling us. Yep TVs are cheaper (unless you want the high end $4,000+ models), they are giving clothing goods away (made cheaply in China) and gas is relatively cheap thanks to fracking and the move to e-solutions, but what about medical costs or the cost of our children's education. What about iphones and the cost of cable TV, internet and phone service. I pay over $250 a month for those services and they only are only going higher. I think buying and maintaining a home costs a lot more than before. If its made or serviced in America, it costs a lot more than 10 years ago.
The US $ is cheap and its getting worse, that is the spiral the Fed should worry about. You cannot print money to solve your problems, or force rates to zero so the interest on Govt debt is reduced without an impact. And the politicians keep kicking the can down the road. The financial experts have twisted the story around to serve their needs and pockets, esp with their derivative products. They'll get out free and clear while we (our children) pay the bill.
How about $7.3T+ in the past 4 years? Some appear to like debt more than others but hey my 401K is hitting record highs. Semper Fi! lol
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Some really bad information being posted...
Deflation is not strictly about falling retail prices.
Does the debt per citizen include illegal aliens?
Record highs in the bank account mean nothing if its buying power is nothing. Ask Germany, Zimbabwe, Venezuela, and many others. You cannot spend yourself into prosperity which is exactly what our government is trying to do. It's inevitable that the dollar will fail eventually.
All paper money eventually returns to its intrinsic value. Zero.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Recessions are a normal and unfortunately needed event in the business cycle for future growth. That is what they taught me in macro-economics. Always been there and always will occur. You cannot buy them away, the Fed and Govt just need to see it coming and soften its blow. Poorly run businesses need to fail. Over-allocated capital in areas needs to be redeployed, and those who ignore large risks for the rewards need to take a loss.
I realize that unfortunately jobs are also lost in a recession and folks lives are at risk. People need to be retrained, relocated, etc, and this takes time and a heavy toll on many families. The Govt needs to figure this out. I think we have enough smart people to come up with a better solution and stop ignoring other problems that we create for the future.
Now the pandemic is an outlier in the recession discussion, at least in my lifetime. This does require different solutions. But our fiscal problems began well before 2020. The Govt can start by having a more equitable tax solution. I love capitalism but the loopholes that mega-millionaires/billionaires use needs to cease. They need to step up and pay more of the societal share to benefit all. Just MHO.
and some good...
My US Mint Commemorative Medal Set
As the Lone Ranger would say “High Ho Silver, Away.”
Lafayette Grading Set