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Silver Futures Soar 8%, Rise Above $29
serf
Member Posts: 9,217 ✭✭✭✭
Big break out is here! Don't know but you cannot buy in the twenties anymore.No physical is available at this time,worst then ammo.
serf
https://www.zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver
Comments
That’s on top of 11
percent rise late
last week . The redditors are gonna bust ole
jp Morgan . Here’s wishing them
luck !
Only problem is they say while
jp Morgan was naked snorting the markets the last ten years they were buying physical at the same time
It's the rooster coming to the hen house. The Federal Reserve with the budget deficit from congress is going to kill the fiat values on the dollar.
serf
I don't see where silver is going for that much right now. About $28.36/ oz.
My main supplier is at $37.00+/oz for what little they have available.
I just received an e-mail from APMEX saying that "...because of the current situation..." they have temporarily suspended shipping silver.
Last time silver was above $45 was around 2010. Probably about due to go there again.
It was also at that level in 1980 when the Hunt Brothers nearly cornered the market.
I think the Hunt's got it to $50.00+ for a few days. A lot of people made or lost a lot of money back then.
The last time when it hit 50.00 an oz. I sold enough to buy my father a new Pontiac Parisienne. I hope it hits 50.00 again as I still have over 50 lbs of silver to cash in yet.
This is going to be interesting. It seems it is being done by the same group that caused the Game Stop stock to go up 1500%. 50/50 whether it has a long term positive effect on the price or crashes the silver price. Silver mine stocks booming but little metal to back up the increase. I sold enough silver when the Hunt brothers drove it up to buy a new Camaro for my wife. I do miss that Camaro, that wife not so much. Bob
Looks like Asia is on this run too,so it's much bigger than reddit here in the states. Central world banks is why,People are investing in real money again! Governments have been playing a dangerous game with our wealth way too long anyway.
serf
https://www.reddit.com/r/wallstreetbets/
Bobs comment about missing the car and not the wife is worth this whole thread !
During the Hunt brother's run, I was in college. There was a little coin shop the next town over and I used to do a little business there. When Silver hit the 40 to 50 dollar range, I was on staff there for security and helping out at the counter. When we opened in the morning there would be 20 plus people in line and it would be steady all day until closing time...
I remember watching folks walk in with bank rolled Peace and Morgan silver dollar and walking away with 600 to 700 bucks in their pocket. The coins were generally just tossed into a 55 gallon drum and then shipped to a smelter out on the East coast.
They had an employee that drove that route a couple times a week with 8 55 gallon drums full of silver each trip....the one save I remember was checking a roll of peace dollar after they had tossed it in the barrel. Turned out to be a bank roll of all BU 1921 Peace dollars. I shudder to think of what did slip by....
I have 4 silver bars, 100 ounces each. I AM RICH ! ! !
I have 4 silver bars, 100 ounces each. I AM RICH ! ! !
Those Cook Island silver dollars will be worth some big bucks now😉
No kidding- check Ebay!
Whoops! You waited too long!
Silver spot price 2-2-21 10:43AM EST
$26.78/oz
-2.26
Going to be a few folks licking their wounds today.
It's scarce right now, I was just offered $29.50 an hour ago by a coin store on my 235oz I wanted to move. It will go back up I bet as people are scrambling to find it and there's none to buy.
I use most of mine to turn a 300 Lb. gunsafe into a 500 lb. gunsafe to help protect the firearms contained therein.
Brad Steele
I just bought 38 acres of dirt with a 4 acre spring fed pond that I really didn't need last Friday, dirt cheap due to the economy tanking, think I'll hold onto it a while and maybe do a little speculating later.....Y'all keep playing metals, hopefully some of you will get lucky too 😊.
"Never do wrong to make a friend----or to keep one".....Robert E. Lee
Know why real estate is so pricy? They don't make it any more.
Dirt ain't cheap here in the Midwest. A farm in Iowa sold recently for $16,ooo dollars an acre. I think it is a record for ag land. Corn and soybeans are higher than they have been for a long time. Economy must not be too bad.
I was a gold miner in the 80s and paid for college that way. Right when the Hunts were jacking prices all over the place. I took many ounces of fines and small nuggets to the city where my college was, and found that most people are perfectly happy to trade an ounce of real Alaskan placer gold for goods and services.
My biggest nugget was 3.5 ounces and I still have dozens in the 10-20 dwt range. I think they're worth more to me now than their weight, just because I pulled them out myself.