Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

Options in general, are a risky "gambling" er um I mean trading strategy.

I agree, it's too early to establish a definitive position but if it can't break through the $120 level & create a new support level, I'll be extremely tempted to preserve my ROI w/ some Put insurance. RSI indicators suggest its extremely overbought & w/o any significant pullbacks or retracements, one thing is for certain.... there will be a selloff. Blow Off Top? Kind of looks like it could be the scenario here.

.... This is true.

Another interesting day in Silver Land.

And away we go!

Hmmm... On second thought that really should have been "Hiyo Silver, Away!"

Just wanted to say that I'm really enjoying riding this wild and crazy ride with all of you. I look forward to and enjoy reading the wide range of posts, comments, and opinions. From the insightful and enlightening to the entertaining, and all the play-by-plays, as well as the playful banter. Every day is action-packed here, and though we are all too busy with our lives to reply to every post, they are all seen and read.

But what I wanted to circle back to was the above quote. There's a lot to unpack in that seemingly short sentence, and frankly, it's something many of us older folks and history students are also thinking about. While we enjoy this ride, it would behoove us all to become familiar with what transpired during that era. There was a lot I won't mention that would raise the hairs on the back of your neck, but I digress.

What I wanted to share was something very related to one of the things that happened in the 30's. Something very insightful that I heard from a young, up and coming and very bright coin dealer from Texas that I follow on YT. In an interview he was asked about what he was seeing in the bullion market. What he said aside from what we already know about foreign countries and companies that are buying up all the gold and silver they can from U.S. refiners because they've ALL either lost their faith and trust in U.S. treasuries and rather have the bullion or they need the metal for industry.

What's most interesting is his comparison of current events to the Gold Reserve Act of 1933, except it's happening differently now. Every time we exchange our gold and silver for paper money, that bullion ends up in the hands of governments (both foreign and domestic) and corporations like Samsung and Tesla. It's likely we won't be able to afford to buy it back. This is in itself a form of confiscation.

So much for my prediction...

I wasn't paying attention to everything when it happened, just silver, busy with work and all, but yeah that drop was across the board.. I'm learning about it now.

Gold dumped 8% erased $3.1 trillion
Silver dumped 12% erased $700 million
S&P dumped 1.3% erased $800 million
Crypto market cap erased $110 billion

In a span of one hour over $5 trillion wiped out from these assets.

Not mentioning the NASDAQ and other stocks AI see all went down at the same time.

That's like a mini crash