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 Replies: 29 / Views: 4,164 |
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Pillar of the Community
Canada
798 Posts |
The CNY to USD 7:1 pairing was thought of as unbreakable in World foreign exchange markets. The fact that this ratio has now broken is truly disruptive and will likely lead to prolonged competitive currency devaluation. Today's gold and silver contract demand should go into overdrive!
Is this the catalyst that will truly kick precious metals prices one floor up? I've been in the metals and markets game since 1999, and in my opinion this is one of the larger currency events in the past 10 years.
You stackers may have something to be excited about this morning! Edited by JGG
08/05/2019 07:04 am
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Pillar of the Community
 United States
8938 Posts |
Ya wanna know the worst part? I sold off my silver at $15.50/ozt so I'm dry during this run. It'll be fun to watch though.
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Pillar of the Community
United States
4333 Posts |
Wow- maybe skyrocket all the way up to $20. If it approaches $100, I might begin to consider. Either way, by $100, we're in deep trouble.
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
493 Posts |
Imagine what it's like for them, this is why China people went from NOT being able to buy gold to buying and then more gold demand than India. You can't get the buying power back, but you can preserve some of it.
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Pillar of the Community
United States
789 Posts |
Quote:
Either way, by $100, we're in deep trouble. Oh, I don't know. The Hunt brothers ran it up to almost $50.00 in 1980, which is equivalent to about $155.00 today. |
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Pillar of the Community
United States
5832 Posts |
Market down. Metals up.
That's the way suppose to work.
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Pillar of the Community
United States
4333 Posts |
Quote:
Oh, I don't know. The Hunt brothers ran it up to almost $50.00 in 1980, which is equivalent to about $155.00 today. The brothers are long gone. If you can find a couple bro's to artificially run up the price like the Hunts, more power! When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
08/05/2019 6:57 pm
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Pillar of the Community
 Canada
798 Posts |
I think that if we hit $5000 gold and $300 silver, all in all, the World wouldn't be that much different. Gold is $2170 AUD, which seemed almost laughable to conceive 10 years ago.
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Pillar of the Community
United States
3343 Posts |
It's a good day to be a seller or holder, but a bad day to be a buyer.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
789 Posts |
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The brothers are long gone. If you can find a couple bro's to artificially run up the price like the Hunts, more power! Or even a country or two. Or how about a consortium? Or the Illuminati? Never say never. Regardless, it doesn't matter how the price gets run up, I don't believe "we're in deep trouble". Now, if fuel becomes scarce, or food, or electricity then yes. Deep trouble. |
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Bedrock of the Community
United States
36770 Posts |
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It's a good day to be a seller or holder, but a bad day to be a buyer. If you are cost averaging over time it shouldn't matter too much. |
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Pillar of the Community
Canada
798 Posts |
The entire physical market (global) is worth $16bn per year. I've seen that amount traded in Ag futures contracts in a day. With $5bn, an institution or sovereign nation could dictate the price. $300 silver has no bearing on 99% of the people out there, and it will simply become yet another investment vehicle that no one can afford.
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Pillar of the Community
United States
4333 Posts |
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Now, if fuel becomes scarce, or food, or electricity then yes. Deep trouble. When PM's are up, the dollar is down. Nothing to do about consumables being scarce. All about lots more dollars chasing the basics. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
5832 Posts |
Let see if we ever going to see $300 silver prices, than the dollar would only be worth the paper it printed on.
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Bedrock of the Community
United States
36770 Posts |
You probably will see $300 silver in your life time. But also $30 for a loaf of bread.
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Pillar of the Community
Canada
798 Posts |
There are about $4bn worth of silver futures contracts that are getting trapped on the wrong side of the trade right now. This money needs to cover their position, or risk mounting losses. The CNY/USD rate really caught everyone off guard and is causing a major rebalancing in precious metals and bond markets. The implications surrounding the disruption in this currency pairing cannot be understated.
Edited by JGG
08/07/2019 1:07 pm
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Replies: 29 / Views: 4,164 |
Posted 08/05/2019 07:03 am
