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Post by toiv0 on Feb 28, 2020 11:24:30 GMT -5
Just seen silver at 16.75 oz. Almost 2.00 down from a couple days ago.
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Post by MsAli on Feb 28, 2020 12:11:25 GMT -5
Just saw that as well
Good time to buy
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Post by opalpyrexia on Feb 28, 2020 12:38:44 GMT -5
If you need silver now, it may well be a good time to buy. This drop in price will not last if the impact of the coronavirus continues to drive stocks down and the economy begins to show signs of weakness.
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Post by greig on Feb 28, 2020 14:33:40 GMT -5
Likely, some of the big boys had to sell their silver and other assets to cover their margins in other investments that tanked. I cannot think of another reason for someone to cash silver or gold for fiat currency at this time. Likely, in the next week the Fed will try to intervene with either a rate cut or increase in money supply (probably both), which will have an inflationary affect because the real problem is going to be lack of supply for everything imported, so increasing demand with easy money is not going to be helpful.
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Post by joshuamcduffie on Feb 28, 2020 15:43:23 GMT -5
If you need silver now, it may well be a good time to buy. This drop in price will not last if the impact of the coronavirus continues to drive stocks down and the economy begins to show signs of weakness. Silver is still mostly an industrial commodity. In a weak economy silver demand and price should stay depressed. |
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Post by greig on Feb 28, 2020 17:10:45 GMT -5
I would agree with the "silver is a commodity" assessment, except it is also poor man's gold. If you cannot afford gold or physical gold is unavailable, then silver is still a valid alternative. Also, silver industrial consumption has exceeded mining production for a number of years. As such, it still seems to be a decent long term or SHTF investment. However, if you want something as a trade good, I suspect amo, prescription drugs, tobacco and alcohol would be better for that purpose (tobacco probably the best as those who abide will run out pretty quickly). Just one guy's two cents.
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Post by rockjunquie on Feb 28, 2020 17:20:06 GMT -5
I would agree with the "silver is a commodity" assessment, except it is also poor man's gold. If you cannot afford gold or physical gold is unavailable, then silver is still a valid alternative. Also, silver industrial consumption has exceeded mining production for a number of years. As such, it still seems to be a decent long term or SHTF investment. However, if you want something as a trade good, I suspect amo, prescription drugs, tobacco and alcohol would be better for that purpose (tobacco probably the best as those who abide will run out pretty quickly). Just one guy's two cents. I stashed some cheap alcohol and tobacco for bartering. Good as gold- almost. Silver is really good to have, too.
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Post by knave on Feb 28, 2020 17:21:07 GMT -5
I’m buying stock in Tela Formosa  |
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Post by toiv0 on Feb 28, 2020 17:35:58 GMT -5
I say bullets for barter.
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Post by rockjunquie on Feb 28, 2020 17:37:28 GMT -5
I say bullets for barter. Got that, too. |
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Post by stardiamond on Feb 28, 2020 18:38:44 GMT -5
I would agree with the "silver is a commodity" assessment, except it is also poor man's gold. If you cannot afford gold or physical gold is unavailable, then silver is still a valid alternative. Also, silver industrial consumption has exceeded mining production for a number of years. As such, it still seems to be a decent long term or SHTF investment. However, if you want something as a trade good, I suspect amo, prescription drugs, tobacco and alcohol would be better for that purpose (tobacco probably the best as those who abide will run out pretty quickly). Just one guy's two cents. I stashed some cheap alcohol and tobacco for bartering. Good as gold- almost. Silver is really good to have, too.
In 1972-73, I was in the USAF stationed in Guam. There were a lot of free military flights to Hong Kong, Bangkok and Taipei. A co worker taught me about bartering. Before a trip, I would go to the exchange and buy the small limit of Johnny Walker Black scotch and Marlboro lights. When I landed at the base in Thailand I would then repeat the process and then take a bus to Bangkok and barter with my goods. I wasn't being paid much and the bartering was a real vacation dollar stretcher. |
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