Silver madness!

[Zippyjuan]

^^^^^^
An interesting data point but on the very low end for a single mine. Looking into the average cost to extract silver brings much confusion. $10/oz average is the generally accepted cash cost figure according to some 2013 surveys of miners.

This article examines why, then, are miners still losing money on silver extraction? Interesting topic.
http://silverseek.com/commentary/20...primary-miners-real-cost-produce-silver-13222



For long term holders of PMs, don't forget that deflation comes first before any hints of hyperinflation. I think we're starting to see that deflation taking hold right now. Weak hands are being shaken out by this dive.

Gold deflated for 20 years after 1980. Where is the hyperinflation which must follow? How many times have we seen hyperinflation in the US?

 

[TheCount]

Prices? Who said anything about prices? Oh you mean that Keynesian measure of inflation. I don't follow that faulty metric.

What exactly is it about silver that's diving besides its price? Ki energy? Is Nibiru affecting silver?

 

[devil21]

What exactly is it about silver that's diving besides its price? Ki energy? Is Nibiru affecting silver?

It's manipulated paper value relative to the strength of the fiat dollar relative to other fiat currencies is diving. But hey, the political has nothing in common with the moral does it? Say hi to your Jesuit masters for me. I always wondered why they all have bald spots? Any idea?

 

[Gaddafi Duck]

Gold deflated for 20 years after 1980. Where is the hyperinflation which must follow? How many times have we seen hyperinflation in the US?

A couple of times. Confederate and Continental Dollars...also, the Western USA during gold rush booms...then we've also had high inflation during WWI, WWII, and 1970s.

How many times have we had a Central Bank with a $4 trillion balance sheet and growing? 0% interest rates for over 6 years? Basically no reserve requirements on banks?

If there's no inflationary consequences for monetizing and recapping banks, then we have reached nirvana...banks should be able to loan to ANYONE they want, and anytime a loan defaults, have the Central Bank bail it out.

Of course, there are monetary consequences, and we will see them when the Dollar stops receiving a bid. Otherwise, we are in a world where people default, the banks get recapped, and no harm no foul.

Wish the world worked like that!

 

[Zippyjuan]

Hyperinflation isn't specifically defined but is often considered something like 30% a month. We have never had hyperinflation.

http://commons.wikimedia.org/wiki/File:US_Historical_Inflation_Ancient.svg

 

[TheCount]

It's manipulated paper value relative to the strength of the fiat dollar relative to other fiat currencies is diving.

If you do not care about the paper value, then there's no deflation, and your comment was pointless. If you care about the value of the metal in comparison to other assets, then we are experiencing rapid inflation, not rapid deflation. So which is it?

But hey, the political has nothing in common with the moral does it? Say hi to your Jesuit masters for me. I always wondered why they all have bald spots? Any idea?

If shapeshifters grow hair that covers the entire head, their psychomagnetic waves cannot emit directly up and they lose contact with the hive consciousness that's hosted on the mothership hiding behind the moon.

 

[devil21]

If you do not care about the paper value, then there's no deflation, and your comment was pointless. If you care about the value of the metal in comparison to other assets, then we are experiencing rapid inflation, not rapid deflation. So which is it?

Deflation is a function of money supply policy, not prices. I never said we are experiencing rapid deflation. I said deflation is starting to take hold. Once deflation takes hold, new inflationary measures are enacted to counter it. The bubbles are becoming bigger and bigger and therefore the pops will become bigger and bigger. Hyperinflation is the eventual result and the last step before the dollar is dropped as global reserve. Reading comprehension much? If you're just going to spend all your time on RPF trolling my posts then I'm just going to put you on ignore and let you talk to yourself.

If shapeshifters grow hair that covers the entire head, their psychomagnetic waves cannot emit directly up and they lose contact with the hive consciousness that's hosted on the mothership hiding behind the moon.

What are you babbling on about? Are you over-complicating economics again?

 

[oyarde]

Well , I did OK today , picked up a 1918 D silver half in Very Good , some dimes , 1917 , 1917 S , two 1918's , 1923 , 1924 , 1928 S , 1929 , 1929 S , 1945 S , 25 2X2's . Saw an 1878 gold 2 1/2 dollar pc in Very Fine for $260 , and three Mexican gold 50 Peso pc.'s in the shop, first gold I have seen in a bit where all of it did not sell before I left .

 

[Gaddafi Duck]

Hyperinflation isn't specifically defined but is often considered something like 30% a month. We have never had hyperinflation.

http://commons.wikimedia.org/wiki/File:US_Historical_Inflation_Ancient.svg

WRONG! Just to quote Wikipedia because I'm too lazy to bother finding "official" stats, but this will do since it is cited:

By the end of 1778, Continentals retained from 1/5 to 1/7 of their face value. By 1780, the bills were worth 1/40th of face value. Congress attempted to reform the currency by removing the old bills from circulation and issuing new ones, without success. By May 1781, Continentals had become so worthless that they ceased to circulate as money. Franklin noted that the depreciation of the currency had, in effect, acted as a tax to pay for the war

Let's see...going from worth 1/5 original value to 1/40 in a year's time...that's not hyperinflation? A currency losing roughly 90% of its purchasing power in one year?

Confederate Dollar..printed in 1861, it had high purchasing power...by late 1863, consumer staples cost dozens of times more than what they did two years prior. By 1864, the currency was basically worthless.

So in less than 3 years, how do you go from a currency being marketable to being completely worthless if you DON'T have hyperinflation?

And then you have the gold rush days, as I said, where prices for basic goods surged drastically.

Nice try, though.

But even if you want to just debate semantics, even just accepting your graph where we've had bouts of 30+% depreciation in ONE YEAR, that's pretty significant. I mean, your cash lost 30% of its value from January to December. Imagine if the US Dollar fell 30% next year...such a drastic move could snowball into exponential moves in commodities. A 30% drop in the Dollar could quintuple gold because people will rush to things outside of the state's domain instead of waiting around for the next 30% depreciation which may happen months later.

You also had a forced depreciation by the US government in 1933. Gold prices were adjusted from $20 to $35, a significant depreciation in a matter of days. Is that not an example of hyperinflation?? Annualized out, that's probably one of the largest depreciations of a currency in that narrow of time.

 

[oyarde]

I may have to see , tomorrow if the local shop still has the 2 1/2 gold pc .

 

[Tod]

A while back I wondered if silver would go as low as $15, and it just did for a sec....maybe I should go shopping tomorrow, eh?

 

[oyarde]

A while back I wondered if silver would go as low as $15, and it just did for a sec....maybe I should go shopping tomorrow, eh?

Looks like $15.67 and about $1156 right now.

 

[Carson]

I may have to see , tomorrow if the local shop still has the 2 1/2 gold pc .

In case anyone else was wondering.


http://www.coinstudy.com/liberty-2-5-dollar-gold-coin-values.html

It looks like a keeper.



Still the math of what it weighs eludes me.



P.S. .125 ounces. To confusing to ever be able to sell it.

 

[oyarde]

In case anyone else was wondering.


http://www.coinstudy.com/liberty-2-5-dollar-gold-coin-values.html

It looks like a keeper.



Still the math of what it weighs eludes me.



P.S. .125 ounces. To confusing to ever be able to sell it.

, just buy two , it is a 1/4 ounce , same as a five dollar gold pc . The 2 1/2 is probably my favorite , although I like the one and three dollar gold pc.'s as well , they are harder to find ( without damage )and expensive .LOL

 

[oyarde]

I did OK today , went to town , sadly , the 2 1/2 gold was already sold , I blew $27 FRN's , got a 1912 D silver Barber Half dollar in a solid Very Good , an 1871 sitting Liberty silver dime , an 1857 Sitting Liberty silver quarter , a 1933 Canadian nickel , a 1943 S silver nickel, then, next door ( Chinese place ) for breakfast got some BBQ spare ribs and a shrimp spring roll. No credit cards , cash , check or IOU at the coin shop and cash only at the Chinese place . My entertainment before work .

 

[Carson]

I did OK today , went to town , sadly , the 2 1/2 gold was already sold , I blew $27 FRN's , got a 1912 D silver Barber Half dollar in a solid Very Good , an 1871 sitting Liberty silver dime , an 1857 Sitting Liberty silver quarter , a 1933 Canadian nickel , a 1943 S silver nickel, then, next door ( Chinese place ) for breakfast got some BBQ spare ribs and a shrimp spring roll. No credit cards , cash , check or IOU at the coin shop and cash only at the Chinese place . My entertainment before work .

Was the no credit card rule yours for yourself or the shops? Not that it's really any of my business.

 

[oyarde]

Was the no credit card rule yours for yourself or the shops? Not that it's really any of my business.

Those are the rules of the shops . Worst thing is , I have been out of ice cream for three weeks and I will not buy any , because I do not need it , but if they had some at the Chinese place , I may have gotten one , LOL

 

[oyarde]

Was the no credit card rule yours for yourself or the shops? Not that it's really any of my business.

There is a very good Mexican place next door too , but they are old and close for the winter and head South .

 

[oyarde]

Today , I sold an 1881 S Morgan dollar in Very Fine in a beautiful Sterling silver bezel that I bought at an auction this past spring for $ 20 or $25 FRN's for $37 . Then traded that and another $37 FRN's for an 1877 CC silver Sitting Liberty dime , a 1969 S silver ( 40 % )silver Proof half dollar , a 1927 Standing Liberty silver quarter , a 1989 S Proof Bicentennial of Congress half dollar , a plastic nickel tube , plastic quarter tube, a 1914 cent , a bag of feed and two bags of bird seed . No silver Eagles at my local shop , but there was a nice selection of Morgan dollars ,Walking Liberty Halves , some early 1900's Barber Halves , a few Barber and Standing Liberty quarters , nice selection of Uncirculated Roosevelt silver dimes and one gold pc.

 

[oyarde]

Today , I sold a few of extras , 1939 Canadian silver dollar , Very Fine , a 1926 S Nickel in Very Good, 1918 D dime in Very Fine , bought four Extra Fine silver Walking Liberty halves, 1914 cent . That was fun . Got busy bullshitting and drinking coffee , no time to get some ribs at the corner store , nearly forgot about going into work early .