Sunday, July 17, 2022

Yukon Cornelius Alert!

In a prior post, It Depends On How Much S Actually HTF, I suggested that precious metals might make sense for a certain range of SHTF scenarios while also pointing out that I was not providing investment advice. In an era of looming hyperinflation that is even more true. With that in mind (and also keeping in mind that I am not a licensed investment advisor and am not providing investment advice nor offering to buy or sell any commodities or securities), take a gander at this here chart of silver prices year to date. 


The current spot price of $18.95 is well outside of the trading range for the year, while still three bucks above where it was a few years ago. What you do with this information or don't do is up to you but if you wanted to channel Yukon Cornelius and squirrel away a little bit of the old silver and gold, we might be in a good time to consider it. 

YMMV, past results =/= future returns, risk, blah, blah, etc

6 comments:

  1. Something is massively fixed with silver markets. In days of old (you know 2019) you could buy physical silver for just a little over spot price. if spot was $19, you probably paid $20 for a 1oz coin.

    Today, go ahead and try anyone who will do that. Physical silver is like 4 to 6 dollars above spot. No one is selling silver at spot. (hell they even buy it back at more than spot).

    And physical silver is what you want. (if you don't touch it, you don't own it). Something is massively wrong with the market doesn't agree with the market.

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    1. Thete have been rumors for months that one of the silver houses has way more paper in circulation than they physically have in stock. Cant find the article butthey refused to allow one of their largest cirtificate holders to retrieve the silver and then refused an audit. They were in china so not surprised.

      Exile1981

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  2. It is very late in the game and the economic future is more obvious to larger numbers of people. The dealers are keeping the premiums high regardless of how low the spot price falls. I presume the dealers are just watching out for their own interests and are assessing the true spot price to be about $25. In other words, they refuse to take a bath by taking soon to worthless cash in exchange for silver that everyone knows is much more valuable then what the current spot suggests.
    You can look at it this way, if you want/need the silver for your personal financial strategy, it is not likely to get any cheaper regardless of what the spot does. You will probably have to bite your lip and pay the high commission. There will probably be a day very soon where you won't be able to buy gold or silver with US Dollars at all.

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  3. Silver and gold are all very well, but don't forget to stock up on your life-sustaining supplies: cornmeal and gun powder and hamhocks and guitar strings.

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  4. The more the stock market drops, the better it gets . . . for buyers.

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