Right!! Industry is not bluffing, they are calling the Bluff - Big difference. In most markets, higher prices stifle demand. But, there are a few markets where higher prices increase demand. They are known as "Giffen Goods". Silver is an excellent example. The higher price goes, the more businesses - whose survival requires Silver - will bid the price up. While we are certainly due for a price pullback to balance short-term sentiment, Silver is headed much higher in the long term.
Learning so much about this topic! So when’s the collapse coming?
I was a caddy a million years ago too. Good money for a girl back then. Had my own pyramid scheme going. There was a par 5 that most of the men I caddied for always fell short, pitching wedge short. Then they’d blow it with the pitching wedge. I could hit the hole or be within a foot of the hole and would bet them that I could hit the shot they just missed with their own pitching wedge. They would double the bet if I got it in. It usually went in, but sometimes it would be 4-6 inches in range. When they had new buddies out with them in a foursome, they’d let me do the bet and they’d bet their buddies that I could or couldn’t hit it. Then their buddies would have me caddy and they’s do the same thing. That was back when girls weren’t supposed to be able to do stuff like that. What they didn’t know was I got there early in the morning, go out with the groundskeeper and he’d let me practice that shot with a variety of pitching wedges. Like I said, good money for a girl back then…
I love it!! Caddying was a great gig. Really opened my eyes to the world. I have another piece about those days that is mostly written coming soon.
As for the collapse, I don't know when. But, I am certain a minimum of two of those banks will fold soon. Bear Stearns went under back in the day because of Silver - the media might tell you it was because of mortgage-backed securities, but that's crap - it was silver that put the nails in the coffin. JP got to buy all their assets for pennies on the dollar. I suspect the routine will be the same this time, the solvent will eat the non-solvent .... consolidating assets in the process.
Yes it does feel like vindication ... I wish Ted was here to see it. I was a fan of his since the Early 90s. It is amazing how prescient he was.
Right!! Industry is not bluffing, they are calling the Bluff - Big difference. In most markets, higher prices stifle demand. But, there are a few markets where higher prices increase demand. They are known as "Giffen Goods". Silver is an excellent example. The higher price goes, the more businesses - whose survival requires Silver - will bid the price up. While we are certainly due for a price pullback to balance short-term sentiment, Silver is headed much higher in the long term.
Learning so much about this topic! So when’s the collapse coming?
I was a caddy a million years ago too. Good money for a girl back then. Had my own pyramid scheme going. There was a par 5 that most of the men I caddied for always fell short, pitching wedge short. Then they’d blow it with the pitching wedge. I could hit the hole or be within a foot of the hole and would bet them that I could hit the shot they just missed with their own pitching wedge. They would double the bet if I got it in. It usually went in, but sometimes it would be 4-6 inches in range. When they had new buddies out with them in a foursome, they’d let me do the bet and they’d bet their buddies that I could or couldn’t hit it. Then their buddies would have me caddy and they’s do the same thing. That was back when girls weren’t supposed to be able to do stuff like that. What they didn’t know was I got there early in the morning, go out with the groundskeeper and he’d let me practice that shot with a variety of pitching wedges. Like I said, good money for a girl back then…
I love it!! Caddying was a great gig. Really opened my eyes to the world. I have another piece about those days that is mostly written coming soon.
As for the collapse, I don't know when. But, I am certain a minimum of two of those banks will fold soon. Bear Stearns went under back in the day because of Silver - the media might tell you it was because of mortgage-backed securities, but that's crap - it was silver that put the nails in the coffin. JP got to buy all their assets for pennies on the dollar. I suspect the routine will be the same this time, the solvent will eat the non-solvent .... consolidating assets in the process.
SILVER, BITCHEZ!
Outstanding info! Fascinating how you could take so much action with a $10k backstop but you explain it so even I can understand it!