Open question - Financial

[HorseGuy]

Alternatively to go for the biggest, full-on, all out, high-stakes, big-gain, everything or nothing gamble putting about 80% of the £20k purely into a few select precious metals mining company shares and the other 20% into XRP would be one hell of a big bet to make. Really massive gains for the offing here but also a fair chance of loosing everything if it goes wrong. Anyone would need real balls to take this sort of gamble but would end up very very rich if it pays off.

 

[HorseGuy]

Silver just hit a new all time high today and seconds later futures trading was halted due to a cooling issue with the data center servers.

Of course there was! That doesn't sound suspicious at all. What excuse are the going to try next time to try to keep the silver price suppressed? Maybe they will tell traders there is a pigeon in their account.

https://www.investing.com/news/stoc...ading-halted-due-to-data-center-issue-4381285

 

[Dan00001]

My stop loss hit on Silver and I haven't gotten back into a trade.

 

[Dan00001]

Although, Silver didn't make a ne high today.

 

[HorseGuy]

Although, Silver didn't make a ne high today.

It hit a new high of $57.74 at around 8:03am UK time.

https://www.bullionbypost.co.uk/silver-price/threemonth/ounces/USD/#show-chart

 

[GreyDog]

Silver hit $57.74 at 8:00am this morning. A new all time high by a few bucks. The overheating server story sounds like someone put the brakes on at LME - it's not as if silver trading uses massive compute power. Akin to throwing an anchor out of the car window when the brakes (i.e. futures market) fail.

 

[Dan00001]

That is strange. It's not updated on TradingView.

 

[HorseGuy]

That is strange. It's not updated on TradingView.

It’s likely due to the settings used by the TradingView software to display data. It is probably set to only display with a resolution of one data point every hour instead of every minute or every second. If this is the case it will only show what the price was at precisely 8am and 9am while disregarding the higher peak which happened at 8:03am.

If the settings in TradingView were changed to display either the 'peak price' or increase the time resolution to display data points for every minute or second this would allow the software to show the higher $57.74 peak which is currently not being displayed in that graph.

 

[TeeDee]

Silver just hit a new all time high today and seconds later futures trading was halted due to a cooling issue with the data center servers.

Of course there was! That doesn't sound suspicious at all. What excuse are the going to try next time to try to keep the silver price suppressed? Maybe they will tell traders there is a pigeon in their account.

https://www.investing.com/news/stoc...ading-halted-due-to-data-center-issue-4381285

 

[Falstaff]

So everybody can see there is a mismatch with physical silver vs sales/demand but the CME ( and banks/countries at the back of them) are in public denial.
At any time, as demonstrated here, the CME or any other non-physical/data market can suddenly cease to exist, either permanently or temporarily, and your theoretical value and stock ceases to exist.

All a bit end of the world scenario, but come to life. The only real value is to physically hold the precious metal and know how to exchange/barter/sell it obtain value in alternative goods or actual services. Not easy for the common little man.

 

[HorseGuy]

I haven't seen this clip for about ten years but I just had to watch it again today. I'm pretty sure this guy has been promoted to working on the CME trading desk now.

 

[demented dale]

So everybody can see there is a mismatch with physical silver vs sales/demand but the CME ( and banks/countries at the back of them) are in public denial.
At any time, as demonstrated here, the CME or any other non-physical/data market can suddenly cease to exist, either permanently or temporarily, and your theoretical value and stock ceases to exist.

All a bit end of the world scenario, but come to life. The only real value is to physically hold the precious metal and know how to exchange/barter/sell it obtain value in alternative goods or actual services. Not easy for the common little man.

it might not easy for the common man but for two common men. well, we are up and running again. xxxxx

 

[HorseGuy]

“Turn those machines back on Mortimer!”

 

[TeeDee]

So everybody can see there is a mismatch with physical silver vs sales/demand but the CME ( and banks/countries at the back of them) are in public denial.
At any time, as demonstrated here, the CME or any other non-physical/data market can suddenly cease to exist, either permanently or temporarily, and your theoretical value and stock ceases to exist.

All a bit end of the world scenario, but come to life. The only real value is to physically hold the precious metal and know how to exchange/barter/sell it obtain value in alternative goods or actual services. Not easy for the common little man.

I like to think of it in terms of having a 'share' in a Sun drenched Timeshare somewhere - 1 of 52 promised weeks you can enjoy the abode.

You see all the literature , check it out on line , sign the contract and hold a belief you can access a week of heaven.

But unfortunately its all just a shell-game and unless you hold the physical keys to access the property , all the paperwork really provides is a realization that what you really own is part of a shared ethereal dream.

 

[HorseGuy]

I like to think of it in terms of having a 'share' in a Sun drenched Timeshare somewhere - 1 of 52 promised weeks you can enjoy the abode.

You see all the literature , check it out on line , sign the contract and hold a belief you can access a week of heaven.

But unfortunately its all just a shell-game and unless you hold the physical keys to access the property , all the paperwork really provides is a realization that what you really own is part of a shared ethereal dream.

I prefer to think of this as being a truth discovery situation rather than your usual standard price discovery mechanism as the last of the physical silver is being drained out of Western exchanges. What we witnessed today was the desperate thrashing of drowning bankers as the silver sharks who continue to stand for physical delivery of their metals rather than accepting paper promises smell blood in the water.

As much as I’m going to enjoy watching the bankers get eaten by the sharks soon I do still hope they manage to suppress the silver price one last time with their paper promises for just a few more weeks yet. The reason for this is because it will give people one last opportunity to acquire a few more oz before the bankers finally completely lose control and drown altogether.

 

[HorseGuy]

All a bit end of the world scenario, but come to life. The only real value is to physically hold the precious metal and know how to exchange/barter/sell it obtain value in alternative goods or actual services. Not easy for the common little man.

Standard 1oz pure silver coins would be way too big for most day to day transactions in such a scenario. However 1920-1946 British six-pence coins and 1920-1936 three-pence coins are much smaller in size and contain 50% silver.* That works out as being just 0.0455 troy oz of silver per six-pence coin and 0.02275 troy oz of silver per three-pence coin which would be a much more useful quantity to use for small transactions during in a financial collapse situation.

* Pre-1920 three and six-pence coins contain 92.5% silver.

 

[Keith_Beef]

Standard 1oz pure silver coins would be way too big for most day to day transactions in such a scenario. However 1920-1946 British six-pence coins and 1920-1936 three-pence coins are much smaller in size and contain 50% silver.* That works out as being just 0.0455 troy oz of silver per six-pence coin and 0.02275 troy oz of silver per three-pence coin which would be a much more useful quantity to use for small transactions during in a financial collapse situation.

* Pre-1920 three and six-pence coins contain 92.5% silver.

I'm too young to remember silver 3d bits but I remember silver 6d pieces, half shillings, that were still in circulation after decimalisation with a value of two and a half new pence.

 

[MartinK9]

Standard 1oz pure silver coins would be way too big for most day to day transactions in such a scenario. However 1920-1946 British six-pence coins and 1920-1936 three-pence coins are much smaller in size and contain 50% silver.* That works out as being just 0.0455 troy oz of silver per six-pence coin and 0.02275 troy oz of silver per three-pence coin which would be a much more useful quantity to use for small transactions during in a financial collapse situation.

* Pre-1920 three and six-pence coins contain 92.5% silver.

You can get fractional Britannias, 1/10th could be a Tenner.

 

[Falstaff]

I didn't know that, must look out my old coins. I've got a shiny 2014 5p coin on my desk, any silver in that or is that too much to hope for?

 

[HorseGuy]

I didn't know that, must look out my old coins. I've got a shiny 2014 5p coin on my desk, any silver in that or is that too much to hope for?

LOL!
But no.

The only coins still currently in circulation which will have any true lasting value are the pre-1992 one and two pence coins which are made out of real copper. Due to the ongoing debasement of our currency the melt value of these coins is now actually worth more than their face value. However the newer post-1992 one and two pence coins are made out of bronze with just a microscopically thin coating of copper plating to give them a coppery colour and as such these coins are totally worthless other than their declining face value.