Precious Metals

[expectation]

honestly base case for the US is for their currency to wither away like the British Pound when the Brits gave up their overseas holdings.

Will it get worse than the base case? Thats why a lot of us are watching Iran and the ICE madness

 

[Northumber]

Hyperinflation or economic crisis is much more likely....

and here I was excited to finally be a millionaire

 

[Cooper]

Where is the money coming from?

Central banks other than those of the US, Canada or western Europe, led by China.



China has been accumulating over 30,000 tonnes of gold over the last several decades, their declared inventory is nearly 10 times lower. Most other non-aligned central banks have also been buying recently, India, Brazil, Gulf Arabs, Russia etc.

Carney, Gordon Brown and Sarkozy from Canada, the UK and France along with other western bankers dumped a lot of gold earlier this century at fire sale prices, at the behest of their bankster handlers, who are now cashing in.

If institutional investors in the West start getting into the gold game, even if they're just incrementally readjusting their asset mix from bonds and equities to gold, prices will shoot up closer to $10,000.

I think $5,000 is the new floor, $100 for silver.

 

[Cooper]

 

[TheLearningWife]

How ironic, they tried to starve Russia with sanctions, but they hold one of the largest gold reserves globally.

 

[magoo]

https://odessa-journal.com/russia-sells-gold-reserves-to-china-to-cover-budget-gaps

And Russia is selling its gold to China. I dont know if this retards in the west leading this sinking ship are just stupid or are deliberate.

 

[PurpleUrkel]

How ironic, they tried to starve Russia with sanctions, but they hold one of the largest gold reserves globally.

Maybe (((They))) do maybe they don't. Nobody can know anything for certain anymore without seeing it with their own eyes. When was the last time a normie saw a room full of gold? And even then with things like Project Blue Beam and other forms of secret holographic tech you may not of even seen what you thought you saw.

But again, what good are financial "reserves"? Money is only of value when you spend it. Holding it is just a mind game of false security which of course breeds neurotic insecurity ("How much do I have? Have I lost some? Is it up, is it down?"). And so maybe Russia has all this gold? So what? What are they gonna' do with it build more bombs to fight in fake (as in unnecessary) jew wars? It certainly won't go to benefit the average working class Russian citizen.

The (((Elites))) are the ones running and benefitting the most from all these carrot and stick financial sh*t shows that are based on the adrenaline rush of gambling. Normies live their lives with a couple ounces in a floor safe thinking they're winning, but it is (((The House))) that always wins. The entire financial system is rigged. Be it BTC, gold, dollars, euros, or stocks and bonds, (((They))) can manipulate the price at the flip of a switch. Normies don't really understand why the price of monetary instruments are what they are (which is a feature, not a bug), only (((The Controllers))) know that.

"It's a big club and you ain't in it."

 

[Cooper]

https://odessa-journal.com/russia-sells-gold-reserves-to-china-to-cover-budget-gaps

And Russia is selling its gold to China. I dont know if this retards in the west leading this sinking ship are just stupid or are deliberate.

The Russians are paranoid about inflation and budget deficits, their dumb central bank director Elvira has had interest rates way too high out of fear of inflation. The Ruble is the same level vs the USD it was 10 years ago.

This being said, Russia is the 2nd largest gold producer in the world after China, they could easily replenish their reserves.

China has been the world's largest producer of gold and has hoarded 95%+ of its production for decades now.

 

[Pravoslavac]

1:59:00

https://podcastaddict.com/the-pete-quinones-show/episode/215714490

 

[Cooper]

 

[Cooper]

The Russians are paranoid about inflation and budget deficits, their dumb central bank director Elvira has had interest rates way too high out of fear of inflation. The Ruble is the same level vs the USD it was 10 years ago.

This being said, Russia is the 2nd largest gold producer in the world after China, they could easily replenish their reserves.

China has been the world's largest producer of gold and has hoarded 95%+ of its production for decades now.

 

[Pravoslavac]

Oh no, no, Russia is broke and Interfax is fake news written by Putin himself.

 

[ed plrbs unm]

 

[Cooper]

 

[scorpion]

Silver down 26% as I type this. I'll quote myself from last week.

There are certainly fundamentals pushing silver higher, but the recent price action is indicative of complete mania. It's trading like a crypto or meme stock at this point. There's money to be made here, but extreme caution is advised. If sentiment turns bearish it could easily lose 20-30% in a day or two.

 

[Cooper]

 

[Caduceus]

Metals crashing today

Gold down to 4,750 US Dollars per ounce ...down 750 USD from a high of 5,500 USD
Silver down to 80 US Dollars per ounce...down 40 USD from a high of 120 USD

Lots of people, banks, and other institutions cashing out their gains.
Still crazy big moves for metals.

 

[Maddox]

Do you understand what is causing this? Would you expect the US prices to catch up in the next week or two?

 

[Cooper]

Do you understand what is causing this? Would you expect the US prices to catch up in the next week or two?

There is a big disconnect between physical silver, whose price is reflected on the Shanghai trade, currently at $122, and paper contracts in the COMEX, at $85 - uncharted waters.



A recent quote for physical silver at a local outlet, 100oz, @ $96/oz, so a lot higher than the spot but much lower than Shanghai prices.

 

[scorpion]

Do you understand what is causing this? Would you expect the US prices to catch up in the next week or two?

You didn't convert your 401k to silver, did you?

Did you???