Silver price about to plummet

[silenceissilver]

11 hours ago, Wonger said:

I think if you buy now you will have the GBP and the price of Silver working against you for a very long time, way past your specific time frame and I cant even imagine how long it would be before you break even, If your not going to hedge the GBP and the Silver, I would keep hold of your money and consider that the wise investment.

 

When are the majority of these longs running out? Why should they affect the silver price for a very long time?

[silenceissilver]

2 hours ago, RichRock said:

I sprayed all my silver in gold car spray. I took it all to Hatton Garden Metals and told them that my Silver now identifies as Gold, could I be paid Gold prices please? They told me to p*ss off. 

I'm going to report them for a hate crime. Shocking treatment. 

Lucky you, my gold identifies as silver and my silver identifies as copper.

[silenceissilver]

1 minute ago, silenceissilver said:

Lucky you, my gold identifies as silver and my silver identifies as copper.

Maybe it helps, if I address it correctly?

Dear silverplated cross metal gold, dear goldplated copperidentifying silver, dear tin/gold*....

 

[zeusss4]

I don’t have a clue what’s going on

Except my small order of the new queens beast is getting cheaper 😃

[sixgun]

39 minutes ago, TonyS said:

I can't, I didn't post it.

https://www.zerohedge.com/news/2019-03-01/gdp-crash-goldman-atlanta-ny-feds-see-q1-gdp-tumble-below-1

[Wonger]

16 minutes ago, silenceissilver said:

 

When are the majority of these longs running out? Why should they affect the silver price for a very long time?

If you pay £1000 for silver today and the GBP/USD rallies back up 30% and Silver sells off 20% your investment is now worth £500, this could end up being a conservative result, you must take the potential future FX rate into account and if you think the GBP/USD can not rally 30% from here then you should not be buying PM's.     

[Wonger]

https://www.zerohedge.com/news/2019-03-01/where-do-things-stand-gold-market

[Bullionbilly]

4 minutes ago, Wonger said:

https://www.zerohedge.com/news/2019-03-01/where-do-things-stand-gold-market

That might as well be wrote in Swahili for me 🤪

[Wonger]

7 minutes ago, Bullionbilly said:

That might as well be wrote in Swahili for me 🤪

Nice plain English ready.... Silver has sold off $1.07 down to $15.15, there are more long positions right now here at $15.15 than there were at $16.22 and the long positions at $16.22 were already extreme, now they are horrific given price action, if you buy Silver here your going to get your bottom handed to you on a plate. Have a great weekend all. 😀

[bored]

3 minutes ago, Wonger said:

Nice plain English ready.... Silver has sold off $1.07 down to $15.15, there are more long positions right now here at $15.15 than there were at $16.22 and the long positions at $16.22 were already extreme, now they are horrific given price action, if you buy Silver here your going to get your bottom handed to you on a plate. Have a great weekend all. 😀

Does that mean we sell or buy?

brain hurtee

[HawkHybrid]

1 hour ago, Wonger said:

If you pay £1000 for silver today and the GBP/USD rallies back up 30% and Silver sells off 20% your investment is now worth £500, this could end up being a conservative result, you must take the potential future FX rate into account and if you think the GBP/USD can not rally 30% from here then you should not be buying PM's.     

 

£1000 -> £500

is £11.50/oz -> £5.75/oz

are you saying £5.75/oz is likely to happen?

 

HH

[sixgun]

2 minutes ago, HawkHybrid said:

 

£1000 > £500

is $11.50/oz > £5.75/oz

are you saying £5.75/oz is likely to happen?

HH

Price would have to go back to the lows of the 2008. The general theme of Wonger is both the gold and silver prices are going back to 2008/2009 levels. There is one big impediment to that, the physical market will explode, there isn't the physical supply and so we would see defaults. So if paper prices went to that level, the premiums on actual physical would ramp up b/c you can't create physical out of thin air.

[Wonger]

Its going to $4 and stackers will beg for mercy!

[sixgun]

6 minutes ago, Wonger said:

Its going to $4 and stackers will beg for mercy!

OK let's do a wager, a nominal amount, say £100, with the money to be held by a third party. i wager silver will not got to $4 a troy ounce.

[silenceissilver]

1 hour ago, Wonger said:

If you pay £1000 for silver today and the GBP/USD rallies back up 30% and Silver sells off 20% your investment is now worth £500, this could end up being a conservative result, you must take the potential future FX rate into account and if you think the GBP/USD can not rally 30% from here then you should not be buying PM's.     

Thanks for the explanation but I don't understand it. Currency fluctuations and and a 20% price drop in Dollars, fair enough but how do these long positions keep the silver price down for a long time? I still don't understand the time scale of these long positions, could they be reversed in one year or are they there for a longer periode? Genuine question, I really don't understand it as trading reports could be written in Swahili for me, too

[sixgun]

The last time silver was at $4 was in 1993.

[HawkHybrid]

7 minutes ago, Wonger said:

Its going to $4 and stackers will beg for mercy!

 

that doesn't even make sense.

stacking physical silver and making trades on the price of

silver are two completely different things.

 

HH

[sixgun]

Just now, HawkHybrid said:

that doesn't even make sense. stacking physical silver and making trades on the price of silver are two completely different things.

HH

Why waste time attempting to make sense of this trash talk?

I offer him a wager - £100 on silver reaching $4.

[HawkHybrid]

4 minutes ago, sixgun said:

I offer him a wager - £100 on silver reaching $4.

 

as there's no time on the predicted price, theoretically you

can never collect.

 

HH

[sixgun]

Just now, HawkHybrid said:

 

as there's no time on the predicted price, theoretically you

can never collect.

 

HH

That's why i didn't make it £1000 - i need my spare change for Kinesis (not that again 🤕)

So let's say anytime in the next 12 months.

[Goldmick]

🤣

[silenceissilver]

10 minutes ago, sixgun said:

Why waste time attempting to make sense of this trash talk?

I offer him a wager - £100 on silver reaching $4.

I understand that much that you say these long positions won't affect the silver price in the way wanger says, because of the physical demand. I have no clue who is right, although silver at 5 or 4 Pounds sounds farfetched to me. But what is the actual time scale of these long positions, so assuming they would affect the silver price that much, could it not be a completly different situation on the paper market in one years time that would could just as well push the price (in Dollars) up just as much as wanger says they will go down - in one year. The point is, why would it affect a long term stacker (apart from a missed oportunity to buy cheap)? Also, I don't understand, how long positions can dominate the paper market, I thought long and short positions always need to cancel each other out to zero, don't they?

[5huggy]

27 minutes ago, Wonger said:

Its going to $4 and stackers will beg for mercy!

it goes to $4 -- i will buy 30k worth !

[sixgun]

1 minute ago, 5huggy said:

it goes to $4 -- i will buy 30k worth !

 

5 minutes ago, silenceissilver said:

I understand that much that you say these long positions won't affect the silver price in the way wanger says, because of the physical demand. I have no clue who is right, although silver at 5 or 4 Pounds sounds farfetched to me. But what is the actual time scale of these long positions, so assuming they would affect the silver price that much, could it not be a completly different situation on the paper market in one years time that would could just as well push the price (in Dollars) up just as much as wanger says they will go down - in one year. The point is, why would it affect a long term stacker (apart from a missed opportunity to buy cheap)? Also, I don't understand, how long positions can dominate the paper market, I thought long and short positions always need to cancel each other out to zero, don't they?

See the post above @silenceissilver - stackers here would buy tonnes of silver - the guy is trolling so i am calling him out. Let's have a bet on it -

[silenceissilver]

12 minutes ago, sixgun said:

 

See the post above @silenceissilver - stackers here would buy tonnes of silver - the guy is trolling so i am calling him out. Let's have a bet on it -

I'm certainly not betting against you, I just want to listen to and understand the devil's advocat's arguments against buying large amounts of silver as this is what I plan to do later this month.