Rhodium Has Finally Tanked... Again.

OOPS!

I say that those who would dance with the devil will buy. Think about it. If one had bought, say, 20 ounces of it when it was a measly $650 an ounce (check the kitco 5 and 10 year chart), and sold it when it got to 10k an ounce, they would be sitting on $200,000 today... for a miserly investment of $1,300.

On the other hand, on it's rise in the last several months, and most recently about 2 weeks ago, had bought, say 10 ounces at 10k an ounce on its way to 11,500, would have had an investment of around 100k. Then went on vacation for 2 weeks, got on the computer and found that their "investment" (and make no mistake, rhodium is an investment and highly speculative), found out that their 100k was now worth only about 20k. that would hurt.

Yet, this time around, rhodium gave those who were vigilant, time to sell on its downfall, which was very easy to see. When you see it dropping like a stone for several days in a row, one should have known that the jig was up and sold. Until recently, G.E. was willing to buy your 5 oz bar (or 5 1 oz bars) for $50,000, or, if you prefer, 10k an ounce... and no more. Kitco was like-minded. When the fall occurred, there was and is panic with those 2 top sellers and refused to buy or sell any of it. I sold a 5 oz. bar for 25k, which was around 5k an ounce. Then looked what happened.

For those who bought it on the rise, there are but 3 choices:
1. sell it on the bay for 5-8 thousand per ounce or close to what you paid for it and pray that the buyers do not check the current spot price (unlikely scenario).
2. sell it at spot before it drops even lower (it is very possible, see what Monday brings), and help your wife pack because she is going to divorce you for blowing it and get out while she can with what she can.
3. or, like before, just hang onto it, possibly for years and years. make no mistake. it rose from the ashes before and it will again. when? in about 2 days to about 10 years... take your pick.

Kitco and G.E. are the main buyers and sellers. if my advice means anything, and I think it has been somewhat validated by means of my last thread concerning the devil that is called rhodium, I would buy as much as I could afford when it drops below to about 1-2k INCLUDING THE PREMIUM.

Those major outlets are now sitting on hundreds, if not thousands of ounces of rhodium that they bought at up to 10k an ounce. Does anybody really think that they would be willing to play by the same rules as before... sell you 1k oz. rhodium with a small premium? Nope. They do not want to take that kind of loss. If you check their sites, you will read that they are re-assessing their positions. Do not believe that "out of stock" lingo... they are sitting on a mountain of it and trying to figure out how to sell rhodium that they bought at 10k an ounce. At the last possible moment, on the last day and hour, just before the plunge, they were willing to buy a 5 oz. bar for $50k. Does one honestly think that they will sell ANY OF IT at it's current spot of 2k without having to charge a huge premium?

This will go down in p.m. historic book as the "10 days of infamy".

Right now even kitco will buy the sponge version at 2k and oz, the current spot. forget the 1 and 5 oz bars... you have to call them, which is hardly ever a good sign. my sympathies to those who got caught up in the artificially manipulated dramatic rise in only several months, only to find out that their rhodium investment has been lowered by about 80%. ouch. history has repeated itself of sorts when it had rose to 10k an oz about 10 years or so ago.

speaking of which, has anybody predicted the palladium explosion? certainly not me. I think that it is more valuable than either gold or platinum by now. if I had said that 2 years ago, vegetables would have been thrown at me.

speaking of platinum, remember when it was about $1,800 an oz a few years ago and always worth more than gold? now look. I think it is at about $600 an oz. pathetic. Right now platinum, while not subject to the same insane manipulations as rhodium, it is regardless subject to manipulations, just like silver (don't even get me started on that). Platinum and Silver are the smart way to go right now. My very own brother bought silver on its rise, at $35 an oz. then it did the rhodium downward plunge but in a different way. His silver is now buried in his yard. Will silver, gold and platinum continue to be artificially low and subjective to the criminal trader insiders? No. Will we see $4-10K an oz gold and $200 an ounce silver as the old commercials and ads once predicted. Yes we will, or our children might, but as Aragorn once yelled to his men of the west "BUT IT WILL NOT BE THIS DAY"!

Look for the first part of April for some POSSIBLE major changes. Buy anything you can now, while you can. Look for finally going back to a perverted, or changed, economy which includes a modified version of the gold standard. *** Edited by Staff | The bad word filter is in place for a reason. Bypassing the filter and making the intended word obvious anyway is completely unacceptable. ***

My brother wanted to take out 10k in cash from the bank last week. The doors to the inside was locked. The drive-thru teller was open and the most you could get was $500 in cash. Do you really think that it is all because of the virus, or do you think it is a very convenient excuse? Think about it... for the first time in my memory, one could not go inside the bank and have full access to your funds... or your safe deposit box. That should alarm you.

Do you think that a government confiscation will occur again, as it did in 1933? (btw, if any of you have a real 1933 $20 double eagle available, please message me for a very good price haha). No. The government does not want a panic run on the banks. They do not have the cash and certainly our gold reserves will NOT even come close to covering it. Always, always, always take PHYSICAL possession of your precious metals purchases. Do not allow the outlets to retain your medal in some sort of "really, really safe" vault for you. That gold has already been sold many times. The chicken will come home to roost and if we go back on the gold standard the world economy will go crazy and not always in a bad way for p.m. investors, BUT YOU CAN'T SELL WHAT YOU CAN'T GET TO NOR IS BEING HELD "FOR YOU" IN SOME STUPID ARTIFICIAL "VAULT".

buy as much p.m. as you can right now, while it is at historic lows... except rhodium. you will have to wait to make a killing on that. Come this April, you may be very glad that you did. If it is difficult to relate, think about this... would you rather have $10,000 in physical silver at $12 an ounce, or would you rather have that 10k in cash in your savings? You think the FDIC will save you up to 100k? Think again. You are the Indians who has been promised the black hills to be yours forever and ever. Guaranteed by the palefaces! I mean really, really guaranteed THIS TIME! well, look what happened when gold was found in them thar (black hills) mountains. They took your lands and carved out the white fathers in Washington. Historically, not a whole lot has changed the way the government deals to keep themselves in power and money. Inside trading, manipulations, artificial pricing of p.m.'s... it is all their. Even Martha Stewart became a crook. She ended up in a "prison" with swimming pools and tennis courts and attendance was kinda optional. We won't be in one of those, should you stray from the path.

Buy as much physical gold, silver and platinum as you can right now. Your cash may be seriously devalued in the close future. And stay away from Rhodium, at least for now. That ball has already just been thrown and caught and I hope none of you had fumbled the catch. If you had, you will live but a little wiser.

This has not been a political discussion. It is an advisement at best and a warning at worst. But hey, what do I know?

mike

$13,000 not $1300, but it is still a huge return. I'll buy a few oz if it gets low enough, but I'll treat it like lost money as opposed to an investment.

Up $4000 in what, two days? Talk about ultimate volatility. Now if only gold would have a couple $2000 days ;)

This volatility is insane. A very risky investment indeed.

Sorry what did you say about rhodium? Tanked?