/biz/ - Business & Finance

>>18060101
Please be real! This would jump the price of gold at least 2X and silver about 50X

>>18060101
Wow you mean fractional reserve banking hasn't been ill utilized many times throughout history???

>>18060101
Thanks
This is too high IQ for most of /biz/ to get it.

>>18060101
What are LMBA bars?

unironically happening. Silver still open for trading though.

>>18060181
Can you explain why to a brainlet? I literally bought 100 oz of silver last night because of biz shills.

>>18060213
>
this

>>18060191

Paper gold doesn't equal physical gold? That's pretty much it. As someone else said the price should shoot up a bit, especially for silver. The paper shit will be junk.

>>18060265

Paper silver and gold are a scam. Only the physical shit matters. The paper promises to deliver gold and silver will soon be worthless.

>>18060291
And the 50x increase is caused because banks are treating paper silver the same way as fractional reserve banking, i.e. they don't actually have the silver?

>>18060265
Because the gold and silver exist only on paper.
More like gold 10x and silver 50x tho.

>>18060316

Exactly. Whoever you have "your" "silver" with will sell it off at the going rate and give you that money before closing up shop, and that going rate will approach zero.

>>18060101
Yeah that Jew is full of shit. Gold futures don't expire until the 27th. What a kike

>>18060316
Not the banks, the exchanges. When you trade PMs you are actually trading IOUs for PMs and they are not backed. Because the exchange "trusts" the seller to have physical.

>>18060359
ok boomer

>>18060389
ok kike

>>18060101
I thought the point of buying metal was to not rely on fiat. Why would anyone buy metal on fiat? Specially when the banks don't need to have to back the paper 1:1 with the gold

>>18060359
You're half right

>>18060101
lol goldcucks will get FDR'd if gold really starts taking off

>>18060273
Paper will still spike, but try to get out of your positions before the etfs get liquidated.

>>18060680
https://youtu.be/jdjzIaEDTnw

>>18060213
>>18060269
400 ozt bars at the London Bullion Market Assoc used for settlements.

gold price is pre-fixed by the way

>>18060669
June is a long time away

>>18061072
Lol what are you a little babby?
Dont have object permanence yet?

Look at me
I am the bullmarket nao

>>18060703
(((Comments are turned off)))

Imagine people trading gold derivatives instead of holding a gold bar.

>>18060101
Now official.

https://www.nasdaq.com/articles/exclusive-cme-pushed-to-change-gold-delivery-rules-amid-coronavirus-lockdown-sources-2020

>>18062743
Holy shit. Is 40oz gold and 40oz silver enough to make it?

>>18062360
you understand that in 1913 the governments decided the price to paper ratio of gold and silver right? They fixed the price.

>>18063154
Now the Rothschilds do it. Your point?

Silver will hit $1k an ounce within 2 years

>>18063003
Well yea but get more silver

>>18060567
More germane: why would anyone sell their physical for fiat?

>>18060660
Nah, all governments have been using the years of market manipulation to buy it up cheap for the reset. I even heard this weird thing a few years ago that JP Morgan allegedly argued in court that they were acting as an arm of the government.

Sup bitches. Bought at the low, locally 5% higher than spot. Already up 20%.

>>18062236
it's funny, because that's exactly how we ended up with worthless fiat to begin with
paper dollars were the original precious metal derivatives

>>18060265
Lol

>>18063396

Also bought gold here. You guys should have listened to the boomers

>>18060710
so what is the significance of Comex "allowing them to deliver LBMA bars instead"?

>>18063396

>>18063003
Trade ten ounces of gold for silver. The gold/silver ratio is at an all time high. You'll be set.

>>18060291
>Only the physical shit matters
If it's locked up in a bank it will be seized.
If you have a bar of gold when society collapses you'll just be killed when you go to trade it in.
Physical gold is for billionaires and LARPers

>>18063447
it's only going to go higher, gold is a much better store of value than silver now than ever before
trade your silver for gold is what I'd do

Thank fuck i sold my pm etfs.

>>18062743

>London is a key gold storage centre, where thousands of tonnes of metal underpin trading, but it uses 400-ounce bars which must be melted down and recast as 100-ounce bars to be accepted by Comex in New York.

>The LBMA and executives at major gold-trading banks asked CME to allow 400-ounce bars to be used to settle Comex contracts, said the two sources, both of whom were involved in the discussions.

Oh boy, recasting all those 400 oz bars sure will take a long time. They're totally serious about delivering and totally not hoping everything settles down and people stop demanding physical delivery in the coming days before it becomes apparent the gold and silver don't exist.

>>18063476
you ok anon?

>>18063341
>why would anyone sell their physical for fiat?

Easier to trade.

>>18063396
My grandpa put most of his money in gold and silver around 2010 and missed out on the biggest bull run in history. Then around 2017 family intervened and moved his money into index funds.
.......

>>18063478

silver's unusually low and it's more volatile so more opportunities to get in. Gold is a better store of value but I've been watching it for years and it's competitively overvalued and I foresee either a big correction in gold or a massive rally in silver

>>18063430
>so what is the significance of Comex "allowing them to deliver LBMA bars instead"?

This >>18063502

>>18063478
That's cool if you want a store of value, but for everyone else it's about a higher percentage gain when the dust settles.

>>18060101
>>18060273
>>18060680
>>18060567
>>18063341
Hold up, so the jist here is to buy real silver and gold and stash it in a safe pronto?

>>18063586

Yeah the government can't touch it then

>>18063586
yeah

What gold stocks would benefit from this? miners?

>>18063586
holy shit you're so late to the game lmao grab your seat before the music stops

>>18063626
Obv

>>18062743
What does this mean

>>18063586
Yeah for the last 10 years. Good luck buying physical now and enjoy paying out the ass for it if you can find it.

>>18063672
But any specific ones? I don't follow boomer metal that much and don't know its true stock value.

>>18060101
why would i want fool's bitcoin?

>inb4 seething boomers

>>18063528
Great job destroying your inheritance

>>18063658
>>18063683
Yeah I was messing with stonks instead of buying the real deal but I didn't have any money to play with until about a year ago. Anyway, I'll look into it. Maybe I'll find something decently priced locally. I do have a few silver ounce bars on me.

So lets be real here, if the whole paper to physical thing comes to a-head, what is the top for silver? 30$?, 40$?, or could we really go to 60+?, i got a fair store myself and I don't want to sell off early.

>>18063733

Might hit $60 in the mania phase. If hyperinflation kicks in then the sky is the limit.

>>18063733
The 1980 ATH was fifty dollars. Run that through an inflation calculator to see where silver has been. Half of the world was under communism back then and couldn't participate in the market. Moon, this time.

>>18063510
I'm right as rain my friend, just telling it like it is

>>18063827
roughly 300% inflation since then, so $150

>>18063718
I didn't do it. They said he was "brainwashed by right wing radio ads"
Honestly I think they were upset about Trump winning

>>18063880
Your family sounds like my extended family

I hope you have a big stack and won't help any of them when they come crawling to you.
Help your gramps tho. Poor guy.

>>18060660
the average person is a fucking retard including government officials. They don't even understand why gold was confiscated in the past and will just take your digital currency from your bank account.

how do you get digix gold?

found it: https://digix.global/dgx#/

Where the chuck can you still buy at a low premium??? Anons help all my sources are way over priced

>>18063860
in 1980 a Big Mac cost $0.34

>>18060101
Why are banks the only industry allowed to sell products they dont actually have and couldn't possibly produce if everyone asked for it?

>>18064208
reported for antisemitism

>>18064125
its to late for that friend, if you dont have a stack now, you wont have a stack ever.

>>18064208
>>18064251

>>18064208
Do you want a real answer or are you just shitposting for attention?

>>18064036
don't buy that shit nigger digx is not backed by antyhing

paper backed gold been used by the US as a scam for years.. they issue 100x more than what they have in reserve

>>18063307
I have 2 orders open for 5 ounces each, but not sure if it will be delivered. Silver is gone.

>>18063528
Spit on his grave why don't ya

>>18063264
So? $1k will be enough to buy you a pound of chicken.

>>18060181
I'm not sure that it would, what happens when people find out the price of gold has been artificially inflated with derivatives?

>>18063264
Industrial metal, no it wont.

>people are only just realizing that banks sell more gold than there actually is

>>18064504
what happened when people found out they could no longer redeem their dollars for gold?
>>18064537
one would think people would've learned from history

>>18064782
>what happened when people found out they could no longer redeem their dollars for gold?
nothing, because it was temporary. President Richard Nixon said so.

it's still technically temporary...

>>18064395
you have 40oz Au
Buy more than 10 oz Ag
and find some anon
find some fast

>>18064504
It's been the exact opposite of that...

>>18063607
The irony from this cover is that the same people who destroyed gold as money with FIATs are now destroying FIATs with gold. It will probably be a gold backed digital currency with some paper gold certificates for nostalgia.

>>18060191
What the fuck is high IQ about it? Pretty much everybody understands the scam that is paper gold.

>>18064125
at Sneeds

>>18065284
Ain't nothing more permanent than a (((temporary))) government program

The Jewish lies end here.

I ordered silver a week ago, and they said it might take up for a month to come. The mint has good delivery status...

Am i fucked?

>>18066158

Might be.

>>18065680
I wonder what your definition of "everybody" is
the vast majority of people, 99.9999%, would look at you like an alien for even talking about investing in gold, let alone the differences between physical gold and paper gold

Should I buy more silver?
Ive got 20oz in the mail rn, ive got about 10 already.

Im spooked rn fellas. Are there any ways to get exposure to physical gold without buying ot or should I jusy settle for goldmine stonks?

>>18066384
Thats what ive started doing. Dont chase something thats played already, look for the next logical thing to pump in this scenario. Hell, physical silver may even still dip a bit in the near future if panic subsides and production ramps back up.

>>18066457
Ive got somewhere around 1000 shares of GOLD from the employee stock match, but I was wanting some bullion etf stuff but that is seeming like a bad idea now.

>>18066457
im hoping this isnt it
would love a few more years of silver stacking

t.zoomer

>>18066457
Mines are closed right now though.

If I'm holding a 3x leveraged PM ETF, how long until this bitch gets liquidated?

>>18066600
Every major gold mine is open in NV tho.

>>18066600
Sure, but they may reopen in a matter of weeks or a couple of months, while falling asset prices may continue for 18 months before any bull run. I wont pretend to have a crystal ball, just saying keep your eyes peeled for the possibility of another window to get some cheap physical bullion.

>>18063396
Helo fellow Perthfag. How tf do Ur bars stay so shiny, mine have tarnished over a year

>>18063586
Uhh... yeah. What have you been doing? You know how when Mt. Gox failed everyone had to learn the hard lesson "not your keys, not your coins"? We're about to learn a similar lesson in the metals market.

what is this the fucking middle ages?
fuck your shiny rocks crypto unironically is a good idea, gold is just as fucking retarded as fiat money it just has a natural scarcity that curbs inflation. bartering with stupid bullshit like that is primitive.

the fed is going to develop a new crypto as well as a unique decentralized bitcoin competitor will arise in the next year, any of you half intelligent shiny rock faggots should help contribute to the local discussion on that topic instead of jumping into a market that has already priced you out as we hyperinflate our monopoly money

>>18060265
>100 oz of silver
Physical or make believe silver?

>>18066289
>the vast majority of people, 99.9999%, would look at you like an alien for even talking about investing in gold, let alone the differences between physical gold and paper gold
thank god.

>>18065284
>they spent all their time preparing for the boogaloo
>but alas, they never forsaw the bugaboo

>>18066899
why in the fuck do you want the government to create a blockchain ledger that tracks every payment for every detail of your life. you fell for the digital jew.

>>18066899
Btc has no commodity value

>>18064537
I'm surprised many people don't know that, there isn't much physical gold on earth,

>>18067357
It has, tax evasion is a commodity

>>18067221
>want
discussing it is not wanting it, its happening, wake up, we influence the world around us, effect this cyberjew shit

>>18067357
crypto is accountability, trust, and self-regulation. I think you fundamentally misunderstand value and currency. currency is purely for transactions. yes btc is useless atm but in the future forms/a form of crypto will be the de facto form of currency

bros how fucked am i?
>64 ozt silver
>0.2 ozt gold

>>18063478
>trade your silver for gold is what I'd do
buy high, sell low. never change, /biz/

>>18066588
You had 1,420 years.

>>18066457
>Dont chase something thats played already

Are you retarded? The play hasn't even begun. Pic related, it's the price of silver versus the currency supply. Look at the price of silver and zoom out 50 years, we're at the handle of a giant 50 year cup and handle. There are places you can still buy silver for about $21/oz, a price I paid in 2015-ish, it's still low.

>>18064504
it's a supply limitation not a demand limitation.

>>18068020
>northu ando saothu desu

>>18066457
>>18068265
And here's the price of gold versus the supply of currency. Remember, this chart is swimming upstream because the Fed is gonna be printing trillions of fiat. There's plenty of room for the price to grow.

Someone may have overheard silvergoldbull owner telling clients (not web customers) he can no longer secure any gold at the moment. Do what you want with this information.

>>18060101
>>18060181
Thanks Mike Baloney call me in thirty years when you finally make a 20% gain in literally anything.

>>18060181
Please be true, I have 200 oz of silver.

>>18068266
>t. brainlet

>>18068342
there is literally a video of him buying bitcoin on youtube at like $1000

>>18068301
goldman sachs told their clients to invest in gold NOW

>>18063528
Hate to break it to you but sounds like your family wont make it. It's up to you to change your destiny.

>>18068383
He buys less than one bitcoin for fun and says he's going to hodl for life. He'll be hodling it as it goes below 5 cents. Now he lives in a third world shithole spamming "helicopter drops...no wait, NUCLEAR BOMB DROPS AMIRIGHT GUIS" git gud faggot

>>18064504
Precious metals are naturally a scarce commodity. There is a limited supply of gold and silver. The derivatives market effectively takes away the scarcity by creating a fractional reserve system. There are hundreds of paper ounces for every physical ounce available.

Say you wanted to buy up 100 million LINK. There is only 350 million in circulation, most of which are locked up in cold storage. You effectively would have to buy up all the orderbooks on all the exchanges, pumping the price to get anywhere near the amount of LINK you want to accumulate. Now imagine you knew Sergei and instead of you having to buy up the limited LINK available for sale right now and pump everyone's bags Sergei offered to sell you 100 million of his own personal LINK at market price? You would get all you wanted at a far lower price and everyone else wouldn't get their moon mission.

Now turn back to silver or gold, if you want to buy 100 tons of physical you have to go around and buy up everyone's minuscule, in comparison, stock. Buying up so much stock would affect the price to the upside. Now if you wanted to buy 100 tons of paper gold, there's plenty to go around you wouldn't have to buy up everyone's stock, there's enough for you on the COMEX's orderbook for you to buy.

The paper market artificially lowers the price of PMs, it's a scam.

>>18063787
Ever heard about inflation? 80's $50 is todays $160.
We will touch that easly.

>>18060213
.

>>18068451
what the fuck happened in the 1980s?

>>18060240

>>18068547
A lot of things happened in the 1980s, man.

>>18068547
Hunt Brothers from Texas cornered the Silver market and it popped off. (((They))) hated him for it and rigged the market. He almost made it unironically but went bust when he couldn't make payments on loans.

>>18068622
Why couldn't he pay the loans? They were onto (((them))) tho. God bless the Hunt Brothers.

>>18060101

eventually paper will catch up.

>>18063678
We will transfer ownership of the metals on paper, you don't need to have our bars remelted and delivered to you! Your gold will still be safe in our vaults!

They are delaying the inevitable, they don't have enough gold for their contracts.

>shorting gold CFDs
>yay or nay
These sort of news should make people pull their money out of paper gold, right? Especially since it has skyrocketed in value in the last days so many would make a profit pulling out.

>>18068434
Jesus Christ, I'm a massive brainlet. Why is it that I only understand financial situations with crypto analogies????

>>18060101
Imagine my shock.

>>18068376
I see you're quoting yourself

>>18063396
Fucking nice cunt.

> you had 47000 years

>>18060181
>silver 50x
is it because of a certain financial institution has a shipload of it?

>>18063396
one day you will realize that Gold and Silver has no value at all like a Diamonds .

It is temporary swindle driven on pure believe

>>18069579
you mean synthetic diamonds, i bet you don't know that your cpu has gold in it dumb ass.

>>18063678
>What does this mean
Mine now
t. banks

>>18069579
>says increasingly nervous jew for the 6th millionth time in 6000 years

>>18060101
What will this mean for the spot price? Up or down?

>>18069172
crypto is a great way of introducing everyone to economic concepts.

>>18069579

>>18068396
I'm in the same boat as this guy. That's why I'm stacking BTC XAU XAG and UND.

>>18063856
>he really thinks thats how it is.
anon.. i..

>>18066899
>the fed is going to develop a new crypto
And thus real money will boom
I wouldnt want
>government crypto

Normies are paying 200+% on spot for silver right now. Really tempting to sell some. Convince me otherwise if you can.

Obviously the mines are reopening soon.

>>18060101

just lost $500 with leveraged knockout stuff, back to normal options.

>>18071174
2X spot still cheap
I’m not selling until it’s over $500
That’s where it’s going

>>18071174
Mines didn't shut down and most refiners are open.

>>18071622
ah ok fantasy land. And bitcoin will be $1,000,000 by 2019

>>18066728
Simple just buy real silver and not the thousands of fakes floating around

Wu Flu didn't fuck this market - that's some lame excuse for retards. Most people that bought are NOT normies. They are people with HUGE stacks already. A local small dealer has gotten BTFO from a TOTAL of 20 individual orders on Monday and Today. Normally he would have enough stock for a FEW months. This dealer DOESN'T take credit card just cash or direct deposit. In saying that, I think silver will go sub $10. Dealer thinks it's going to moon and is trying to get stock again. I've seen this happen in physical metal markets before and normally the restock kills the dealer as prices crater from lack of demand. Everyone got their fill.

>>18060703
please DO NOT i repeat DO NOT INITIATE A BANKRUN
TRUST US GOY
lmao

>>18063692
GOLD- Barrick Gold, merged with Rand Gold last year, largest gold miner in the world.
NEM- Newmont

These guys are 60/40 Barrick/Newmont on the largest gold mines in the USA.
t. NVGM employee.

>>18060101
Gold? You mean gold plated tungsten?

>>18064511
>the material is consumed, therefore the price cannot rise

>>18065284
>>18067217
>while you were preparing for the boogaloo, I was studying the way of the bugaboo

my 9oz of silver arrived today

>Sebag founded GoldMoney Inc and currently serves as the Chief Executive Officer

Another shiny rock salesman with aggressive marketing tricks. Go to bed, Roy.

Is JNUG or NUGT a good buy and hold for the next few weeks?

>>18069579
ok retard

>>18073297
Congrats man

>>18071778
not happening

cope harder

just got 600 oz of silver this monday

bought the bottom as always

people who don't see the price suppression happening are literally delusional. Deutsche Bank even got sued for manipulating the silver markets a couple of years ago

I can only afford 20oz, will I survive?

>>18074481
Fuck no.

After reading this thread I'm more bullish on crypto more than ever.
Paper gold is worthless IOU.
Physical gold will be cucked each time you trade.
Crypto is the only way forward.

>>18074761
>Physical gold will be cucked each time you trade.
more that it's not actually suitable to trade with. even IF everybody somehow carried gold and silver around how the hell can you trust that the stuff you receive in change is real? how will companies accept payment without each transaction taking too much time? we'd end up with a million different types of vouchers instead of just one (the government-issued cash)

>>18074624
Fuck it then, getting ammo instead

>>18065453
I can't buy more, because I threw most my cash on the crypto dip and hedged the remaining cash in CHF, in case there is another PM or BTC dip.
I always keep 5% of the total portfolio liquid.

Also there isn't any more. Dealers on eBay have some, but they want $30 per oz. All the other dealers have been picked clean.