Silver Monitoring Thread £ (GBP) only.

[Silfrfish]

Yeah, I’m not always sure about the veracity of headlines that begin with an expletive abbreviation 🧐😅. Scammy/scummy, but an interesting read for that wide angle contextual perspective. 
 

Jeez I’ve had a lot of caffeine this morning, chatting ‘contextual perspectives’ 🫣 

Edited June 1 by Silfrfish
Full of pretentious caffeine fuelled twaddle sorry

[CollectForFun]

5 hours ago, FriedrichVonHayek said:

https://kingworldnews.com/wtf-europeans-can-now-only-place-sell-orders-on-sprott-physical-gold-silver-funds/

If this is true, this is explosive!

Oh yeah, a "news site" where the only contact is a gmail address 🤣

Well, I just checked and I seem to be able to place a purchase order with my local broker, so yeah, journalism at its best, not bothering to check facts but rather spewing out bombastic headlines based on whatever whoever writes to them. But hey, they promise more coverage as the situation develops, so let's see what they find out...

 

[FriedrichVonHayek]

3 minutes ago, CollectForFun said:

Oh yeah, a "news site" where the only contact is a gmail address 🤣

Well, I just checked and I seem to be able to place a purchase order with my local broker, so yeah, journalism at its best, not bothering to check facts but rather spewing out bombastic headlines based on whatever whoever writes to them. But hey, they promise more coverage as the situation develops, so let's see what they find out...

 

King World News isn't a bad site, it has some very good guest interviews, although it can be a bit sensationalist.

I did qualify my post by saying "if this is true."

[Silfrfish]

Of course, I didn’t mean to suggest you believed it all 🙂. Was interesting to read out of curiosity 👍

[Roy]

Copied from a piece by Dominic Frisby (recommended author):

'In 1695, counterfeit coins accounted for more than a tenth of all English money in circulation. Massive LOL: the English used the counterfeit coins, in particular, to pay their taxes. The Exchequer that year reported no more than ten good shillings for every hundred pounds of revenue.¹ Coin clipping was also a major problem, especially of old coins, and silver coins were disappearing from circulation altogether.

Silver was worth more on the continent as bullion than it was in the UK as tender, so arbitrageurs shipped coins abroad, melted them down, and sold them for gold. Everyone from the Jews to the French was blamed, but by 1695 it was almost impossible to find legal silver in circulation. It had all been melted down and sold.'

Interesting 👍

[FriedrichVonHayek]

22 minutes ago, Roy said:

Copied from a piece by Dominic Frisby (recommended author):

'In 1695, counterfeit coins accounted for more than a tenth of all English money in circulation. Massive LOL: the English used the counterfeit coins, in particular, to pay their taxes. The Exchequer that year reported no more than ten good shillings for every hundred pounds of revenue.¹ Coin clipping was also a major problem, especially of old coins, and silver coins were disappearing from circulation altogether.

Silver was worth more on the continent as bullion than it was in the UK as tender, so arbitrageurs shipped coins abroad, melted them down, and sold them for gold. Everyone from the Jews to the French was blamed, but by 1695 it was almost impossible to find legal silver in circulation. It had all been melted down and sold.'

Interesting 👍

Copper in a pre-decimal £ is worth £17.13 at current prices and adjusted for inflation a 1971 £ is now worth £13.98.

And the Copper in a pre 1992 £ is worth £2.70, adjusted for inflation the 1992 £ is worth £2.10.

Even lowly Copper is a decent inflation hedge.

Edited June 1 by FriedrichVonHayek

[CDH]

6 hours ago, CollectForFun said:

Oh yeah, a "news site" where the only contact is a gmail address 🤣

Well, I just checked and I seem to be able to place a purchase order with my local broker, so yeah, journalism at its best, not bothering to check facts but rather spewing out bombastic headlines based on whatever whoever writes to them. But hey, they promise more coverage as the situation develops, so let's see what they find out...

 

I've been following this on Reddit (where the story originated). Several non-UK Europeans seems to have confirmed that this is correct. I can still trade ETFs (& did on Friday) via my UK broker. Can any continental Europeans here on the forum confirm whether it's true?

[Thelonerangershorse]

7 hours ago, FriedrichVonHayek said:

Even lowly Copper is a decent inflation hedge.

Does this mean copper is actually outperforming silver?

[FriedrichVonHayek]

2 hours ago, Thelonerangershorse said:

Does this mean copper is actually outperforming silver?

I haven't looked but I wouldn't be surprised.

[Chronos]

1 hour ago, FriedrichVonHayek said:

I haven't looked but I wouldn't be surprised.

 

[Agaupl]

[Beanyman]

On 31/05/2024 at 19:07, Roy said:

@theman73 are you going to stand for this blatant manipulation?!

I suggest you write a strong worded complaint to your local MP!

Or just buy the dip.

DIP DIP

[gji25]

17 hours ago, FriedrichVonHayek said:

Copper in a pre-decimal £ is worth £17.13 at current prices and adjusted for inflation a 1971 £ is now worth £13.98.

a tonne ?

[FriedrichVonHayek]

Just now, gji25 said:

a tonne ?

It's the weight of 240 copper pennies in an old pound.

[Dankanugget]

Due to the fact that Mr Deniro has made a scene and made himself look potty I think gold will go up tonight to £1860

[CDH]

5 hours ago, FriedrichVonHayek said:

It's the weight of 240 copper pennies in an old pound.

I had to check this for myself, since it seemed unbelievable. But you're right! It's yet another illustration of the awful debasement of our currency. 

[FriedrichVonHayek]

10 minutes ago, CDH said:

I had to check this for myself, since it seemed unbelievable. But you're right! It's yet another illustration of the awful debasement of our currency. 

I can remember in the 1980's my Uncle laughing at my Grandfather when he said decimalisation was a con because every new pound had lost 140 pennies.

It looks like he was right after all.

[CDH]

It's quite sad to realise that one would genuinely have been better off stuffing those old 240d into a jam jar, rather than depositing them into a bank account earning 5% ever since.

[FriedrichVonHayek]

4 minutes ago, CDH said:

It's quite sad to realise that one would genuinely have been better off stuffing those old 240d into a jam jar, rather than depositing them into a bank account earning 5% ever since.

I wonder how long it will take to debase digital money as the cost of the energy to keep such a system going rises.

[CDH]

2 minutes ago, FriedrichVonHayek said:

I wonder how long it will take to debase digital money as the cost of the energy to keep such a system going rises.

Obviously CBDCs will be debased by every government at will. But I'm slightly more hopeful that changing the BTC cap of 21M will be more difficult.

[gji25]

3 hours ago, CDH said:

Obviously CBDCs will be debased by every government at will. But I'm slightly more hopeful that changing the BTC cap of 21M will be more difficult.

If they try to change the btc cap eg: raise it, then it will become worthless just like fiat currency

[HonestMoneyGoldSilver]

55 minutes ago, gji25 said:

If they try to change the btc cap eg: raise it, then it will become worthless just like fiat currency

It already is worthless like fiat currency, in fact it's worth even less than fiat. Fiat at least has armies to back it up. The only value in BTC is the energy wasted in the network (strong correlation with spot price) along with the participants in the network. It's basically worth something because the people in the network say it is worth something, exactly the same as fiat, except it's backed by nothing and has no army, nor is it legal tender in any country you'd want to live in. 

We don't care about fly by night ponzi schemes here (Family Guy/South Park references). In this thread we care about SILVER

Not doing a lot on Asia open, just hanging out waiting to see what happens, but the picture on silver has improved since last week even if the price has dipped. The new 1-month low has risen by $0.40 and will continue to rise the longer we hold $30+. We need the 1-month low to be $30+. The 70% RSI has moved to $34 and the 80% is now at $40, give or take. That leaves ample room for appreciation this month without silver being considered overbought (+10% roughly)

My narrative is we might get out of life alive if we survive the summer months above $30. Slow and steady, building above $30 and setting $30 as the new floor is the ideal scenario on our steady march to $40, then $50

 

[Fishy321]

The value of btc was it being the first digitally traded non fiat currency - along with it being uncontrolled by government and having a limited cap, it is now more controlled and if the cap goes it becomes fiat 2.0 - tbf it was always going to be abused / manipulated

[Fishy321]

In other news I believe silver price is up so far this week 

[bobski]

Live Silver Price UK in GBP per Ounce

Ag

Current Price

£23.55

Live Change

-0.09% £-0.02

Live high £23.57

 

Live low £23.53