Posted on 02/02/2021 6:29:54 AM PST by RomanSoldier19
Went to a seller yesterday, and they quoted me $50/oz for a generic silver round, while the spot was under $30.
I passed.
Silver is now trading where it was a month ago. Not impressed with the reddit kiddies. The “greatest silver short ever in history” is looking very LAME.
It's worse than that. It's $1,000 per household. Not per person.
Imagine how different the end of Trading Places would have been if the head of the exchange came up to the Duke brothers and said "we'll let this slide for a couple of weeks" instead of demanding immediate payment at the end of the day.
If they were smart, they would have shorted Gamestock and made a fortune, like the smart big boys.
Good for you. Thinking there is a shortage in the silver market because coins are scarce, is like thinking there is a shortage of US dollars because coins are in shortage, like they have been nationwide for months.
It didn’t even look like the folks at Reddit got involved with the silver hype. It seems more likely that a bunch of silver investors tried to start something that never took off.
I really hate most of the gold/silver selling sites and the gold/silver bug blogs. Deceitful and dishonest, always spreading lies to the gullible and low info buyers, for their own sleazy gain. A POX ON THEM ALL.
This time, we got to the door.
Next time, we knock.
The third time, we kick that SOB down.
(PARAPHRASING BUM PHILLIPS)
Where would YOU go to buy silver?
And it is still restricted on the free apps.
Many of those kids opened alternative accounts from Friday through yesterday. It takes a couple of days to fund those accounts.
I always thought getting out of that trade was going to be “sketchy.” But, I am not sure its entirely over yet.
(Full disclosure: I made some decent money the first week this was going on. But I don’t have “diamond hands.” You never go broke taking a profit.)
SLV was NEVER mentioned as a target on WSB. Never.
I wish the reporters saying this would actually go to Reddit and read the posts.
This whole thing has exposed the lazy business reporting. If you think they are doing anything but repeating what they see on Twitter and the other news sources...you are sadly mistaken. (Generic “you” not YOU, BC)
I wonder how deeply they are going to go after the folks front running this whole thing. THEY made out like bandits. There rest of them? Nope.
And this was the week of the month I was supposed to buy my gold and silver. Not likely when the retail buy price is nearly $100 over spot. We live in crazy times.
I am sure the guys who started this whole thing did EXACTLY that. I would love to see the private messages between THOSE guys.
“The sell word is ‘pineapple.’”
JM Bullion has always been “decent.” I would hold off on buying ANYTHING for a few days. I am sure their supply line is getting refreshed, but its going to take some time.
Right now the retail price is way, way too high.
Haven’t looked for a while so can’t say off the top of my head. I can tell you where I would not go - Any site that uses BOGUS conspiracy garbage or distorts fundamentals of the market to induce buyers.
“You try to deceive me or lie to me or are too stupid to know the noise you’re spouting is false, bye, bye.” Click.
without Robinhood and the ability to buy fractional shares, it will slowly return to normal
There you have it!
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