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Major Silver Warning!

from TruthNeverTold:

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10 comments to Major Silver Warning!

  • mike

    In terms of human labor Silver is already in a massive bubble and over priced big time. If “primary” miners can mine the stuff for $10 an oz like FM just by rearranging management then what is the overall average mining price per oz?..About .19 cents an oz or less considering the vast majority is mined at no cost at all. That is a far cry from SRS Ro CooCoo’s $19 to $25/oz mining cost (think he had the decimal in the wrong location .19 to .25 cents more like it) derived from mining co’s and gubberment numbers with a little splash of his ridiculous EROI.
    What did it take to mine 1000 oz of silver in the past? 10000 slaves and a few months? compared to 10 gallons of diesel fuel and 10/hr for a machine operator?..This guy has lost his marbles. Sorry Silver just does not have the same value in terms of human labor.

    • Desert Fox

      What a businessmen you must be Mike {can I call you Mike?}
      I’m a bit confused on the ten gallons of fuel and the hamburger helper dude you want to pay 10 bucks to. Where does the fuel actually go? A shovel or a goat or what? What machine are you talking about and where do you dig? Not really flush right now but I could take the bus down to the park or??????
      Does the silver just come out of the ground in coin form or 1000 ounce bars?
      Have been looking to pay off some serious student loans and your observant, well, uh, observations make it clear that foregoing a couple of soy lattes could literally be earth changing.
      I hope this isn’t some ultra magical fantasy island off the cuff remark on your part.
      Some deeper insight would really be appreciated. Frankly, absolutely needed at this point with the bern selling me out to the hilda-beast last week. If this cheap silver pans out like you say I probably can forego selling my hair, blood and sperm forever and be a full time social justice crusader like I always wanted.
      The stars seem to be aligning, please don’t let me down.
      Waiting on bended knee. Thanks!

    • Eric

      Bubbles do not end with 1979 prices and 60% below their all time high.

      Mike doesn’t even know what a bubble is. Lol.

      And where does 19 cents come from? Is that out of your magic hat too?

  • JC

    I don’t believe this video discussed silver in terms of how human labor is performed, but I think you’re missing the point in terms of the value of silver. Today, we have MASSIVE amounts of inflation in all other asset classes and a monetary system on its last breath. Based on those circumstances, where are you putting your money? There is such little capital allocated to the precious metals right now, but that is changing and will create a boom you will be sorry you missed. After this, we are going to revert to a system where capital is respected. Fiat money will be distrusted and despised, so I suggest you consider hedging that eventual reality with some precious metals in your portfolio. Good luck to you Mike – I suggest you follow the likes of Harry Dent who believes the dollar will always be king.

  • Jeff Fitzmyers

    The finviz chart lines it seems are being referenced are commitment of traders. They are different than open interest. But very notably, the commercials are record net short.

    @mike “Bubbles” are defined via more than just price. You also need massive public participation. There is almost zero of that in the silver market. You say silver is 100 times over valued? Using the current silver gold ratio of about 67, that would mean you maintain gold should be trading right now for $13. 🙂

  • tomche

    “…What did it take to mine 1000 oz of silver in the past? 10000 slaves and a few months? compared to 10 gallons of diesel fuel and 10/hr for a machine operator?..This guy has lost his marbles. Sorry Silver just does not have the same value in terms of human labor.”

    Mike, your ignorance is stunning. I have invested in several producing silver mines and have spent time at all of them. The following should help you with your assumptions on what it takes to produce silver…

    https://youtu.be/t0dODJGm3dM

  • Eric

    Good video SS.

    We should know which way it’s going real soon.

    Greg Mannarino shows some charts in his video update from Friday worth checking out.

    VIX is ultra low right now. Too low. Metals appear to be breaking out but we gotta clear 21 first. S&P is trending just below resistance.

    I’m still betting that 21 will break soon and rally to 26. Don’t care about dollar price. Even with my silver miners. Build up your powder gang! Premiums are low.

  • Suzanne

    I think we need to renew Max Keiser’s “Crash JP Morgan, Buy Silver” campaign.
    Really push getting everyone we know out there to buy up physical silver… for one thing, it would help getting friends and family “prepped” for a probable economic crash, and they will make money on it.

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