Re: Silver shot up......
[Re: Marty]
#6948767
07/31/20 08:08 AM
07/31/20 08:08 AM
|
Joined: Dec 2015
Posts: 6,341 se South Dakota
NonPCfed
trapper
|
trapper
Joined: Dec 2015
Posts: 6,341
se South Dakota
|
Yeah, I remember even higher interest rates. A guy I knew about a brand new crappy little compact care "Horizon"...?) in the fall of 1982 and his note was 19.95%. Then again, he probably had either no credit or had screwed up his first few credit purchases and whacked his credit score. Needless to say, he never paid off that car. A pharmacist I used to know was fresh out of school and just married and they had a house note at 18%. He said after a couple years, they owed more than what they started with the loan. Luckily, "Morning in America" end of Reagan's first term or early in his 2nd, housing around here was moving again and value going up so the pharmist and his wife got out of their crappy house deal and moved up. Our current housing industry would collapse if interest rates went back up pushing 10%!!!!
"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground". Genesis 1:26
|
|
|
Re: Silver shot up......
[Re: Marty]
#6948871
07/31/20 10:08 AM
07/31/20 10:08 AM
|
Joined: Mar 2007
Posts: 35,175 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
|
"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,175
McGrath, AK
|
Looks like there are opposing views at Goldman. Gold has ‘no role’ in portfolio of wealthy clients, says Goldman manager Don’t believe the hype. That’s the message from Sharmin Mossavar-Rahmani, chief investment officer of private wealth management at Goldman Sachs, who thinks that gold is overpriced and has no clear role in the portfolios of her private clients. Our view is that gold is only appropriate if you have a very strong view that the U.S. dollar is going to be debased. We don’t have that view. We think the dollar maintains its status as the reserve currency. The dollar can cheapen a little bit because it’s moderately overvalued but that doesn’t mean that it’s going to be debased, that we are going to have huge inflation and that gold is a good substitute. During an interview on CNBC Thursday morning, Mossavar-Rahmani explained that her wealth management group has two factors that it focuses on when thinking about gold: strategically and tactically. She said that gold isn’t a great deflation hedge, doesn’t generate any income, and isn’t tied to economic growth and corporate earnings, so it fails the strategic hurdle as Goldman’s wealth management crew assesses its relevance in a balanced portfolio. Secondly, she explained that tactically, gold is a hard case to make unless investors hold the perception that the current bout of weakness in the U.S. dollar is the start of a more severe downturn for dollars and a possible change in leadership of the monetary unit that is viewed as the No. 1 reserve currency in the world. “So all this excitement and brouhaha about gold is not something that we buy into,” Mossavar-Rahmani said. “In fact, at one point, we think people should look at the reverse and think there’s more downside to gold,” she said. Mossavar-Rahmani’s comments run in contrast with Goldman’s commodity crew, which earlier this week raised its 12-month forecast for gold to $2,300 from $2,000 . That shift was precipitated by “a potential shift in the U.S. Fed toward an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty, and a growing second wave of COVID-19 related infections,” said a team of analysts including Jeffrey Currie. On Thursday, August gold GOLD, 0.88% fell by $11.10, or 0.6%, to settle at $1,942.30 an ounce, after settling at a record on Wednesday, marking its ninth straight advance, which is its longest win streak since a 10-session climb ended in January. Gold’s ascent has come amid the backdrop of rising cases of COVID-19 in the U.S. and around the world. However, gold’s climb has also coincided with a weakening of the dollar against its major rivals, which can give gold buoyancy because bullion and other precious metals are priced in the currency and its softening can make metals more attractive to buyers using alternative currencies. One measure of the buck, the ICE U.S. Dollar Index DXY, 0.14% was down around its lowest level since 2018 and has dropped 4.5% so far in July, according to FactSet data, while gold has climbed 8.1%, based on the most-active contract. https://www.marketwatch.com/story/g...oldman-manager-11596138456?mod=hp_LATEST
Mean As Nails
|
|
|
Re: Silver shot up......
[Re: Marty]
#6948882
07/31/20 10:23 AM
07/31/20 10:23 AM
|
Joined: Dec 2006
Posts: 17,652 Rodney,Ohio
SNIPERBBB
trapper
|
trapper
Joined: Dec 2006
Posts: 17,652
Rodney,Ohio
|
Did they say that as they were about to buy a bunch of gold like they do with everything else?
Last edited by SNIPERB🦝; 07/31/20 10:23 AM.
|
|
|
Re: Silver shot up......
[Re: Marty]
#6948886
07/31/20 10:28 AM
07/31/20 10:28 AM
|
Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,485
MN
|
Sharmin probably went to a college that teaches modern monetary theory.
Gold isn't going to stop at 2300 and silver will set new highs.
Our housing market would crash if interest rates went to 5 percent, we are in a bubble. The bubble popped in 2008 and the solution by the FED and the US government was to increase that bubble many times over.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Silver shot up......
[Re: SNIPERBBB]
#6948895
07/31/20 10:39 AM
07/31/20 10:39 AM
|
Joined: Mar 2007
Posts: 35,175 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
|
"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,175
McGrath, AK
|
Did they say that as they were about to buy a bunch of gold like they do with everything else? I have always suspected GS of doing things like that. Curious here Steven: You mentioned a couple days ago that you expect to see deflation before inflation.......I agree with that. IF that is true, shouldn't we see metals prices decline ?
Mean As Nails
|
|
|
Re: Silver shot up......
[Re: Marty]
#6948993
07/31/20 12:26 PM
07/31/20 12:26 PM
|
Joined: Apr 2014
Posts: 7,084 MO
cfowler
trapper
|
trapper
Joined: Apr 2014
Posts: 7,084
MO
|
Price above spot, for physical Au and Ag, indicates a price increase is anticipated by major dealers. 1oz Eagles in either metal are expected to be in short supply, with a larger premium. Stackers in some sectors anticipate a price drop after this surge. Some are selling top-end pieces, with a large percent over metals price. They sell high, buy low, make the stack grow. Locally, shops are offering more, if you’re selling, because turn-around has picked up. If you happened to purchase earlier in this year, you’re all
I trap for fun. I skin 'em for the money! Grinners For Life-Lifetime Member, MO Chapter, Den #1 ~You Grin, You're In~
|
|
|
Re: Silver shot up......
[Re: white17]
#6949086
07/31/20 02:09 PM
07/31/20 02:09 PM
|
Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,485
MN
|
Did they say that as they were about to buy a bunch of gold like they do with everything else? I have always suspected GS of doing things like that. Curious here Steven: You mentioned a couple days ago that you expect to see deflation before inflation.......I agree with that. IF that is true, shouldn't we see metals prices decline ? Ken did I say deflation before inflation? I think I said hyperinflation lol. I expect, and I hope for the sake of our youth that I'm wrong, we'll see inflation levels beyond the 70s and early 80s. Anyhow, should metal prices decline if we see inflation? Let me ponder that for a bit and see if i can best express my feelings.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Silver shot up......
[Re: Marty]
#6949328
07/31/20 05:37 PM
07/31/20 05:37 PM
|
Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,485
MN
|
Ken, after some pondering over it, I've come up with three theories of mine.
1). I expect we will see some downward pressure on silver in the coming months. In winter of 08 silver went to a hair over $20, by late summer early fall is was below 10 dollars. By 2011 it was almost $50 an ounce. That is what I expected to happen during when the next economic down turn hit and still can. If silver goes back below 20 I'm backing up the truck.
2). Silver was trading around $17 in early March and then fell to the $12 range for a short period. It could be that was the deflation we were going to experience and the policies of the FED which is true inflation caused the market to rise.
3). This recession is a continuation of the 2008 recession and deflation you speak of happened the last few years and now silver is in inflationary mode.
Notice I haven't used the term hyperinflation yet in relation to metals. I think gold and silver havent even warmed up yet, maybe in the stretching phase.
My above 3 scenarios doesn't pertain to gold so much. IMHO gold is the true form of money and is reacting accordingly to the inflationary policies set forth by central banksik
Of those scenarios, I that #1 is most likely followed by 3.
Last edited by Steven 49er; 07/31/20 05:56 PM.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Silver shot up......
[Re: Marty]
#6949333
07/31/20 05:39 PM
07/31/20 05:39 PM
|
Joined: Jan 2014
Posts: 21,074 North East Kansas
Marty
OP
trapper
|
OP
trapper
Joined: Jan 2014
Posts: 21,074
North East Kansas
|
Was not $50 ounce due to a person/persons trying to corner the market?
E 'Honey Badger Militia' Sleep, the anti woke adote.
|
|
|
Re: Silver shot up......
[Re: Marty]
#6949356
07/31/20 05:55 PM
07/31/20 05:55 PM
|
Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,485
MN
|
Not in 2011 when silver went north of 40 and gold set and all time high.
You are referring to when the Hunts tried to corner the market in 1980 and silver went from the $4 range to almost $50. Even after the Comex and the government changed the rules that all but bankrupted the brothers silver trended 2 to times plus or minus higher for 3 years or so. We all know what inflation was like in 1980
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Silver shot up......
[Re: Marty]
#6949365
07/31/20 06:01 PM
07/31/20 06:01 PM
|
Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,485
MN
|
Also Ken, I don't think the play is in metals at these price points although I think 24 dollar silver would be a good entry level. Since silver broke the $20 level I think the move is in mining stock
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Silver shot up......
[Re: Steven 49er]
#6951142
08/01/20 11:05 PM
08/01/20 11:05 PM
|
Joined: Nov 2007
Posts: 898 N. W. MISSOURI
TRAPPER-ED
trapper
|
trapper
Joined: Nov 2007
Posts: 898
N. W. MISSOURI
|
I got stock in SILV up 79% ,FCX up 51%,WRN up 31%, AG and BTG are 26% , AUY 21% and 3 new ones i just got KGC ,IAU, and LMSDF is only 70 cents a share which 2 stock advisers was high on ,
50 + years of trapping & some fur buying and i still know nothing.
|
|
|
|
|