. When the Chicago Board of Trade says corn is $4.00 per bushel, you won't pay that at the store. If you did, that 16 oz can of corn would run $0.05.
That is a way better explanation than the websites!
. When the Chicago Board of Trade says corn is $4.00 per bushel, you won't pay that at the store. If you did, that 16 oz can of corn would run $0.05.
I really can't wrap my head around crypto. Not backed by anything (and I guess the dollar really isn't anymore either though), and totally made up out of thin air. Just seems crazy to me.Silver is going up for the same reason SPX is going to 4000. Money printers go brrrrr.
Crypto is probably a better hedge against inflation though.
Yes it’s made out of thin air. The allure is that there is a finite amount and it’s not controlled by a central banker like jpow. Means Jpows money printers can’t make your 1 Bitcoin have .9 Bitcoin purchasing power.I really can't wrap my head around crypto. Not backed by anything (and I guess the dollar really isn't anymore either though), and totally made up out of thin air. Just seems crazy to me.
I honestly think and believe that the feds are cooking the books on the inflation number right now. They say we have no inflation and yet everywhere I look prices are rising. Lumber, gas and all the food commodities are all skyrocketing. If that’s not inflation idk what is.
But how is there a finite amount if all of it is "imaginary"? Who says "this is all there is, and there ain't no more"?Yes it’s made out of thin air. The allure is that there is a finite amount and it’s not controlled by a central banker like jpow. Means Jpows money printers can’t make your 1 Bitcoin have .9 Bitcoin purchasing power.
I honestly think and believe that the feds are cooking the books on the inflation number right now. They say we have no inflation and yet everywhere I look prices are rising. Lumber, gas and all the food commodities are all skyrocketing. If that’s not inflation idk what is.
positions: holding a couple hundred shares of some crypto mining companies as well as a single call. No actual crypto position yet, still trying to decide size of position I’ll take.
Sorry for jacking this thread with the crypto talk but The creator sets it that way. That’s actually one of the problems with using crypto. The “mining” is actually people using their computers or dedicated mining machines to process the complicated math problems that are the transactions from one holder to another. The miners are then rewarded with a portion of a coin, the further into the crypto lifecycle we get the smaller the reward. For a while last year the only way it was profitable to “mine” crypto was to steal power.But how is there a finite amount if all of it is "imaginary"? Who says "this is all there is, and there ain't no more"?
Sorry for jacking this thread with the crypto talk but The creator sets it that way. That’s actually one of the problems with using crypto. The “mining” is actually people using their computers or dedicated mining machines to process the complicated math problems that are the transactions from one holder to another. The miners are then rewarded with a portion of a coin, the further into the crypto lifecycle we get the smaller the reward. For a while last year the only way it was profitable to “mine” crypto was to steal power.
Bought 5 rolls around that price. March or April of 2020. Bottom fell out and I was a buyerWe bought 55 eagles at $14.45ea OTD...wasn't that long ago either...
I was a buyer at that time too. A person wouldve been crazy not to. One of my best decisions of 2020. Really wish I had bought rhodium when it was 7-800 per ounce.Bought 5 rolls around that price. March or April of 2020. Bottom fell out and I was a buyer
On the inflation subject bc crypto can’t be manipulated it’s probably the best judge we have of REAL inflation. JPM and many other large institutions hold significant silver positions to back silver ETFs. Now I don’t know what they are doing as the market maker but if it was me I would be making a fortune selling covered calls and then impact the price based on how much extra silver I buy of how much of a short position I take up.
ELI5 version: banks control the price of silver. That’s why you pay over spot. You call it a “premium” I call it the real price.
Actually I was given a great definition of spot price in the silver thread and I am sorry a cannot remember who to credit. I was told spot is the equivalent of the price of corn on the CBT st $4 a bushel, can you buy corn at that price in the grocery store? So yes, $4 is the real price of a bushel but who is going to give that $4 bushel to you?
Spot is the price for ore that is mined and refined to silver that is sold to the mint that strikes the coins that assure value...
The cost of the silver going into the production of a generic 1 oz 0.999 silver bar is the same as the cost for the silver needed to produce a US Eagle coin. This should not be confused with price though. Spot price is the expression of the cost or price of a commodity. When the Chicago Board of Trade says corn is $4.00 per bushel, you won't pay that at the store. If you did, that 16 oz can of corn would run $0.05.
So the price of a unit of silver has to include the cost of production. So since the cost to produce a 1 oz bar, excluding the silver cost, is about the same as that to produce a 10 oz bar, the premium on the larger bar is lower per troy ounce. Many buyers and investors perceive added value to sovereign coins as they are a known quantity and less likely to be of lower quality or even counterfeit.
Just had a thought occur to me... and I think I already know the answer, but I'll ask anyhow. Knowing this information before going to say, the Indy 1500, or any gun show where people are selling silver coins etc. at tables, is that a viable place to buy? I'm guessing it's not, since obviously people will be wanting to make a profit just like they do on ammo.