Late to the party...

[SilverSleeves]

Just a few words of hello.

Been into PMs for a few years now. Started modestly with numismatics, now only interested in bullion.

My stack has grown a lot lately because I've sunk nearly my entire paper "cash" holdings into it - on the basis that fiat money will be dead soon, to be replaced by real money!

Also own some crypto, just in case...

[sixgun]

Well i think it doubtful fiat currency will be replaced by 'real money' (aka precious metal). It is just not practical. However emerging over the horizon real money is creating a hybrid with cryptocurrency to produce asset backed blockchain currencies. These are practical and are likely where things will end up. i can send blockchain title of ownership over real money for whatever you have that i want and can afford. This invariably involves a third party holding the loot (real money). The practicality of these systems stem from me instantly sending digits down the line whilst the precious metal stays in a safe place. We have safely located value linked with mobile currency units. When this issue comes up for discussion many members here reject it or are at least wary. Quite rightly so b/c there are 1000's tonnes of gold being safely held in vaults except there isn't b/c the gold never existed and it is all part of the fractional reserve scam. i think as these asset backed cryptocurrency systems roll out, get tested and are seen to be good, this suspicion will melt away.

[SilverSleeves]

Several issues raised here.

Blockchain has much appeal due to it's "ease of use". I do own some Litecoin, but to be honest, the complications involved rule out general acceptance by "the man in the street". Confidence is a crucial factor in any currency, and at the moment crypto is far too complicated - except for techies. This MUST change if it's to be accepted generally.

A currency backed by gold and/or silver is trusted and well understood by ordinary folk. Soon, their trust in fiat will be shattered, paving the way for a return to "real" money.

5000 years of tried and tested gold/silver money cannot be wiped out by new-fangled and complicated crypto, especially when/if the grid goes down.

But there us a problem with gold, and silver, too. The rarity of gold is a myth. Two reasons - Snr counsel and whistleblower of the World Bank Karen Hudes, says there are 600,000 tons of secret gold. Enough to make everyone in the world rich. Plus(?) there are 2 billion oz of gold unmined in the Grand Canyon (discovered in 1912, and guarded by US Marines ever since).

Meanwhile, silver is far too rare, and far too useful as an industrial metal to use as coinage. Eg one cruise missile uses 100 lbs of silver in it's electronics, and 50% of the silver ever mined has ended up in landfill, yet there is only 12 years of world reserves left unmined! Silver stackers are sitting on a fortune, but most don't realise it. (Psst - do you wanna buy some gold, I got a bridge  to sell?).

The criminal bankers have demonetized silver over the last 100 years - to peddle toilet paper fiat - and even conspired to suppress the price with "derivatives" in recent decades.

So, it's all a bit  of a mess,.but I reckon if you HODL your silver stash, you'll come away smiling?

 

 

[Stu]

Hi and welcome.

[CadmiumGreen]

@SilverSleeves, Welcome aboard The Silver Forum!

[SilverSleeves]

Thanks..

 

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Added 0 minutes later...

Thanks..

[RoughDog]

It's debatable cryptos could handle the volume of traffic to be usable as a real everyday currency. Every transaction has to be crypted in an uneffcient manner due to the way it works. Blockchain might become blockedchain. 😂😂🚽🚽🚽🚽

[Agpanda]

Hi and welcome to the forum

[SilverSleeves]

6 hours ago, RoughDog said:

It's debatable cryptos could handle the volume of traffic to be usable as a real everyday currency. Every transaction has to be crypted in an uneffcient manner due to the way it works. Blockchain might become blockedchain. 😂😂🚽🚽🚽🚽

That's a fact., But there is a new technology they call "hashgraph" supposed to be superior to blockchain. I know nothing else on the topic, though.

[GrahamDiamond]

Welcome to the Silver Forum Coinster !!!!!!!!

[Abyss]

Welcome to the forum never better time to join precious metals forum when we in the everything is in a bubble moment in history .

[SilverSleeves]

1 hour ago, Abyss said:

Welcome to the forum never better time to join precious metals forum when we in the everything is in a bubble moment in history .

Cheers, but the only thing NOT in a bubble are PM prices. They are set to skyrocket.

[Abyss]

11 hours ago, SilverSleeves said:

Cheers, but the only thing NOT in a bubble are PM prices. They are set to skyrocket.

Many individuals on this forum with a lot more experience and knowedge than myself can counter the argument that PM are set to skyrocket. The stratgey most widely accepted is the slow steady accumulation of PM £/$ cost averaging with a mindset of preserving purchasing power against inflation over the long term with added advanatge PM provides insurance against any Black Swan events or other SHTF scenarios.

We have historically low silver and gold prices at this moment in time and your not late to the party, your right on time .

[SilverSleeves]

28 minutes ago, Abyss said:

Many individuals on this forum with a lot more experience and knowedge than myself can counter the argument that PM are set to skyrocket. The stratgey most widely accepted is the slow steady accumulation of PM £/$ cost averaging with a mindset of preserving purchasing power against inflation over the long term with added advanatge PM provides insurance against any Black Swan events or other SHTF scenarios.

We have historically low silver and gold prices at this moment in time and your not late to the party, your right on time .

I guess such people are unaware of the price suppression, which is specifically aimed at preserving the fiat paper currency system.. and that NO fiat currency has survived more than a few decades, anywhere in the world in the last 1000 years. Ours will be no different. It's lasted since 1971, but it 's all about to collapse under unprecedented levels of debt, of that there can be no doubt.

The good news is they will have a tiger by the tail.

[Blockhead]

When the current system collapses will there be a few months /years of turmoil and high PM prices, then a new fiat system devised to start all over again (presumably with the current super-high levels of debt mostly written off)? 

[SilverSleeves]

58 minutes ago, Blockhead said:

When the current system collapses will there be a few months /years of turmoil and high PM prices, then a new fiat system devised to start all over again (presumably with the current super-high levels of debt mostly written off)? 

I very much doubt any new fiat system will be acceptable to most people - not after the high human costs of it's failure. People will die in the ensuing collapse chaos.

There will probably be a "Black swan" even which triggers the collapse, or else the bankers will pull the plug - or even maybe Trump will - to bring it all to an end and start over.

Gold might  hit $50,000 and silver go to a 9:1 ratio (as in nature).

What will follow is a few months of zero credit and big deflation (so keep plenty of cash handy), followed by the "Helicopter Ben" solution - which will cause hyperinflation and calls for a currency/debt reset. There's actually plenty enough gold in the world to return to a gold standard (600,000 tons according to Karen Hudes of the World Bank).

Anyway, Russian and China are hoarding the stuff like crazy in readiness for the reset. Russia has even said they are going to "monetize" silver, and the Chinese have been advising citizens to load up on silver for several years. They must know something we don't?

Whatever, personally, anything is better than cryptos, real money is much preferred!

[ChrisSilver]

Welcome to The Silver Forum