Short Sellers, Your Time Has Come To Pay The Piper!

[NamMedevac 70]

Silver: Short Sellers, Your Time Has Come To Pay The Piper! | Seeking Alpha

I love it!!!!!    War has been declared on the big hedge funds that have controlled certain stock, bond and commodities for many many years.  They are now the victims of a massive short squeeze and losing billions thanks to Reddit, Gamestock, etc and large numbers of commission free day traders/day trading.  For example the market fundamentals should find gold at $5000.00 an ounce due to inflation, supply and demand, etc but instead price has been kept at around only $1200.00 for many years due to corrupt Wall Street Hedge Funds.  Details in the above Seeking Alpha story.

I am not invested in the markets in anyway whatsoever but enjoy following the present chaos and turmoil.  The little guy does not invest in Hedge Funds. Very entertaining reading for me to see the anti competitive hedge funds get their comeuppance.  Oh Happy Days and Trails again. Cheers

Edited February 1, 2021 by NamMedevac 70

[NDBirdman]

I wish silver/gold was up where they think it should be!  Interesting read, thanks.

[Darryl&Rita]

Interesting sort of covers it. Seeking Alpha is usually a better source of information than this. The whole point of the squeeze on GME arises out of the fact that a Redditor noticed that the stock was being shorted by a larger amount than actual stock. He shared it, and the squeeze started. How can you short 140% of a stock? Since then, the Hedge Funds have been scrambling to dig themselves out of this mess. Part of the scrambling includes claims that they have their position covered (falsely), silver is the next short (it's not), and that if they fail, it will bring down Wall Street (it could). Silver being held by hedge funds is held long, pretending it's short is an attempt to turn the tables on the market that handed them a loss in the first place. Most of the retail buyers aren't sharp enough to smell the rat.

[NDBirdman]

Want to buy some silver at $250/oz?  I know where there's a couple ounces... LOL

 

[rynosback]

I put in a trade order to buy some silver last night. Well my limit was BLOWN away because of the 14%-24% when the market opened. So I did not get and silver today. But I have been buying GOLD. 

[RV_]

It is smart to have hard currencies like gold and silver, in addition to some investments, cash, and property/ies.

[packnrat]

i do not understand this. nobody having stock owns anything except a computer file that promises to maybe get you something like money, one day...maybe?

 

now if you had the gold, sliver, fish, etc in hand. that would be a real investment. (yes fish you need to sell right away).

[NamMedevac 70]

All good comments and as usual packnrat is spot on😃

[durangodon]

Those computer files sure are providing me with a comfortable living.  I pay my bills every month with no problem.  Haven't handled any gold or silver for many years.  I do like fish, though.  At least once a month I pull out my plastic card linked to a computer file and buy some fried fish.  🙂

[bigjim]

Am I not technically correct that at least for some time period you do own a share of some product or business but you do not have it in your physical hands or your physical control. Of course many people are holding their gold or silver or whatever but am I correct that many people are not in physical control of their gold or silver?  If you are holding it you must be securing it in some way. That could be a serious challenge for some RV'rs.

[NDBirdman]

14 hours ago, rynosback said:

I put in a trade order to buy some silver last night.

While most Full-timers would have storage problems, I have a SnB and always will (I'm a snowbirder, not full-timer).  You can also rent boxes at most banks.  If you must buy pms, for investment purposes, I would suggest gold rounds/bars you can easily hide in your RV as they take very little space and have high value.  IF the poop every hit the fan, it would be much easier for week to week expenses to have silver.  It would be easier to get change back, if at all possible from a $50 silver round than a $2,000 gold round.  As for investment wise, my silver is already up 3x what I paid for it.  Gold, not so much. 

Buying silver and gold stock, IMHO is a bad deal.  If you want silver and gold, buy physical metals, there have been unscrupulous business'  sell pms and keep them stored in their safes.  You think you own pms, but they have sold the very same pms over and over to others thinking it is all theirs in the brokers safe, and you pay for storage in their safe..... there's a sucker born every minute is how the saying goes.

IMHO, if it is NOT in your hand, do not buy it.  I say that about any pm.  Mine is either in hand, or my safety deposit box in a bank.

Another thought, if your buying it for when, not if the poop hits the fan, some pms are ok but a better investment is physical land you can atleast stay on, have un-interupted water, with decent soil you can plant a garden on, fruit trees and lots of timber for firewood.  The second item to have is weapons and ammo, not to attack but to defend you and yours because there will always be idiots trying to take that away from you.  Just hope that bs does not happen in our lifetime but it's cheap insurance.

Those are just my opinions, everybody has one.  If it does not float your boat, ignore.

[Barbaraok]

5 hours ago, durangodon said:

Those computer files sure are providing me with a comfortable living.  I pay my bills every month with no problem.  Haven't handled any gold or silver for many years.  I do like fish, though.  At least once a month I pull out my plastic card linked to a computer file and buy some fried fish.  🙂

Same with us, only we eat fish at least once a week - grilled/baked/poached in heart/kidney health way.

[mptjelgin]

5 hours ago, durangodon said:

Those computer files sure are providing me with a comfortable living.  I pay my bills every month with no problem.  Haven't handled any gold or silver for many years.  I do like fish, though.  At least once a month I pull out my plastic card linked to a computer file and buy some fried fish.  🙂

And for us as well.  This is a little like saying that the money in your bank account is just numbers on a statement. You aren't actually holding it in your hand, are you?

I guess that there will always be folks who think that dollars under their mattress is the only "safe" thing. 

[bigjim]

So how do you know that what you buy is the quality of gold or silver you pay for.  .....Maybe by weight...? IE 14 carat vs 24 carat or maybe even pure if there truly is such a thing.

I have some gold teeth that I am sure someone will harvest but my daughter isn't interested in doing it or having it done.  Sounds kind of gross but I doubt a mortuary of crematorium will put them in the ground or melt them. Maybe they could offset the cost of the service.

[NDBirdman]

36 minutes ago, bigjim said:

So how do you know that what you buy is the quality of gold or silver you pay for.  .....Maybe by weight...?

Research, read, learn, it's not that hard.  Only buy from known/quality dealers.  I can tell a fake from the real one, for the most part.  If you plan on getting into it deep, there are machines you can buy that read/display metal contents of coins/bars/etc.  I also have portable digital scales that are accurate.  I go through licensed dealers and buy boxes (500/per box) of American silver dollars, they come sealed from the US mint.  You can also deal directly with minting companies as I do occasionally. 

Saying that, there are a poop-load of fakes out there.  China is getting real good at making fake bars/coins, etc.  Dealing with a good dealer is essential but they do get fooled sometimes.  The chinese are getting good at it.  I have bought a few of their fakes but I knew they were before hand.  A dealer I ran into had one, a coin if real, is worth many thousands.  Took me a few minutes but I was able to identify it as fake.  They learned a valuable lesson that day as they payed full price for it.  I use them as teaching tools.

Edited February 3, 2021 by NDBirdman

[bigjim]

Are current silver dollars "clad" coins? Are the boxes of 500 new coins?

[NDBirdman]

5 hours ago, bigjim said:

Are current silver dollars "clad" coins? Are the boxes of 500 new coins?

They are solid silver coins, not clad (IF they are not counterfeit).  You can order boxes, 500 coins per box, or you can go to reputable dealer and buy any amount you desire.  Most common, atleast for me when I'm not buying a box, is to buy a tube.  That's 20 coins per.  Most boxes/tubes/singles are current year, you will find alot of the previous year early on as they don't come out/issue til late feb if me memory serves me right.  I have not searched for year 2021 yet but I hear the design was changed a little so I will purchase a few tubes after first issue.  Currently silver is going up/down like a yo-yo.  I will wait for it to settle down, it will have to drop some to add into my collection.  I've never paid more than $7,500/box so it has a ways to drop, and it will eventually.  Until then, a coin/tube here/there is it.  I mostly buy depending on the designs they are embossed with anymore.  Private mints are good bets, they are usually a couple dollars less each depending on quantity.  Silver Eagles from the mint, you pay more and usually have a couple $$ each premium added at the dealer.

I'm not associated with this company, but I use them for good pricing/value.  I have not bought from them but know plenty of folks that have, I find what I want and a local dealer finds it for me usually with very low premium as I pay cash in advance.  They sell alot, no counterfeits and are reliable.  You can look around to see if there's any one mint/design/type of metal that floats your boat.

https://www.jmbullion.com/?gclid=EAIaIQobChMIwOjX_aDx3wIVjLjACh3_-wGsEAAYASAAEgIXb_D_BwE

I must add, I don't consider my pms as an investment, I just like to collect them with the benefit that if poop hits the fan, pms will be the only thing of value, besides the small armory I own.  Yea, I have been fortunate to make decent $$ on them but that is not my full intent.

Another way to collect silver, is to figure out which old coins you like and start a collection.  I have several full sets of old silver coins but a serious warning, learn, read, learn, read, find a mentor, read, etc.  The chinese and a few other notorious countries have got real good at counterfeits!!  And, some coins have some very serious prices and if poop hits the fan, those will be worth an ounce/half ounce, etc of silver so sets are for enjoyment.

 

 

 

Edited February 3, 2021 by NDBirdman