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 Replies: 23 / Views: 4,821 |
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Pillar of the Community
United States
5854 Posts |
I don't know if true but on twitter, there seems to be a rumor going around about several very large hedge funds needing to quickly unwind very large leveraged bets in the markets. It could explain the actions of the fed and some of the very volatile and strange prices lately. So maybe they had no choice but to sell gold in order to raise cash.
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Pillar of the Community
United States
3343 Posts |
Leverage is killing us. But the Buffets are having a field day buying the drop.
Sell when you have to, buy when you can afford it.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Bedrock of the Community
Australia
21788 Posts |
Buffett is cashed up right now.
He now has the buying trigger that he was looking for.
Over the next 3 or 4 years, he will be buying quality shares using dollar cost averaging, of
companies that have good prospect of producing decent dividends, and have good forward looking business prospects.
He certainly doesn't need PM's.
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Valued Member
Canada
128 Posts |
What is cash eventually worth if they keep the presses going and give it to everybody, we went from a 20 billion deficit to a 100 billion deficit in one day(Canada).
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Pillar of the Community
United States
4333 Posts |
Chicken feed.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
170 Posts |
There is no harm in being over-prepared for a situation such as this, but over-reaction to the extent it has been is unnecessary. While its understandable that business and money flow in markets is indeed heavily hindered by quarantines and the virus, it will pass. While control and treatment of a virus, which by nature infects exponentially more and more people with ever generation is very difficult, therefore warranting quarantines- the hoarding and brash "apocalypse preparation" shown in some states amidst a two-week shelter in place is ridiculous. With that said, if you have an avenue through which to purchase precious metals as a back-stop in case the economy worsens, I would recommend doing so.
Jasper
Edited by river4449
03/23/2020 4:19 pm
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Pillar of the Community
 Canada
665 Posts |
Quote:
but over-reaction to the extent it has been is unnecessary  I understand the approach from health care and government officials but the panic buying of basic commodities such as toilet paper, lysol, hand sanitizer has been crazy. A local grocery store has indicated that there was no problem with the supply chain for household goods until the panic... now the issue is not enough drivers to keep shelves stocked. There is no commodity shortage. Grocery stores in this neck of the woods are limiting access to support distancing but beyond that, there are no issues except for those items panic bought and challenging the resupply channel. There have been a number of threads on this forum over time that have discussed the best approach to the zombie apocalypse or economic melt down... Gold vs. Silver vs. Firearms. All Wrong. Toilet paper & lysol will be the new currencies come the end of days. What a world. |
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Valued Member
United States
392 Posts |
I see where some big stores are not allowing the return of toilet paper and Lysol. That currency is not universal. More of a stop gap measure. Also states are Trying to close gun shops and background checks are way up which relates to new gun purchases.
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Valued Member
United States
170 Posts |
Which seems rather ill-timed. I've talked to the owners of gun stores nearby and they're all in agreement that for one, it's being taken too far and two, they usually get an influx of business around this time towards the beginning of spring black bear season up here. So even despite the huge profits made by gun stores they themselves agree people have gone too far with prepping for the virus. Every store I know of near by is sold out of 9mm, .223, you name it.
Jasper
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Valued Member
United States
392 Posts |
Good news is silver spot prices are rising and that means the dealers will suddenly have stock again.
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Valued Member
Canada
128 Posts |
On tv they are talking lately about people asking for physical gold and not getting it. I bought an ounce last week and one this week as well as I bought some shares of PHYS in Canadian dollars. The place I deal with is sold out of 1 ounce coins of Canada and Beast coins they have some 1/4 ounce and a supply of pandas of different years. Not sure but I expect something to happen soon with physical ,don't know if I want to be right or not.
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Pillar of the Community
United Kingdom
2624 Posts |
I think people are liquidating assets to cover their expenses so will be selling PM's as they are easy to convert into money. I think this will be a temporary situation till things get moving again then I am expecting the prices to rebound heavily in an upwards trend as currencies lose value.
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Bedrock of the Community
Australia
21788 Posts |
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Pillar of the Community
United States
3343 Posts |
On the other hand, looking at semi collectable pre 1933 US over the past two weeks, some of the big dealers have dropped their usual ebay listings. On their sites, new semi collectable coins are not appearing in the way you'd expect if there was large scale liquidation going on. Instead, semi collectable coins have all disappeared, leaving a motly assortment of cleaned and common date coins. What they have is being sold at higher-than-usual premiums too. Common $10 and $20 libs are selling at 20% over spot. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
04/02/2020 1:57 pm
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Pillar of the Community
United States
4333 Posts |
Prices aren't tanking, they're going up!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 23 / Views: 4,821 |
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First Page
Posted 03/18/2020 9:20 pm
