BANKS FAILING TO DELIVER GOLD

And the 50x increase is caused because banks are treating paper silver the same way as fractional reserve banking, i.e. they don't actually have the silver?

Because the gold and silver exist only on paper.
More like gold 10x and silver 50x tho.

Exactly. Whoever you have "your" "silver" with will sell it off at the going rate and give you that money before closing up shop, and that going rate will approach zero.

Yeah that Jew is full of shit. Gold futures don't expire until the 27th. What a kike

Not the banks, the exchanges. When you trade PMs you are actually trading IOUs for PMs and they are not backed. Because the exchange "trusts" the seller to have physical.

ok boomer

ok kike

I thought the point of buying metal was to not rely on fiat. Why would anyone buy metal on fiat? Specially when the banks don't need to have to back the paper 1:1 with the gold

You're half right

lol goldcucks will get FDR'd if gold really starts taking off

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Paper will still spike, but try to get out of your positions before the etfs get liquidated.

youtu.be/jdjzIaEDTnw

400 ozt bars at the London Bullion Market Assoc used for settlements.

gold price is pre-fixed by the way

June is a long time away

Lol what are you a little babby?
Dont have object permanence yet?

Look at me
I am the bullmarket nao

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Imagine people trading gold derivatives instead of holding a gold bar.

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Now official.

nasdaq.com/articles/exclusive-cme-pushed-to-change-gold-delivery-rules-amid-coronavirus-lockdown-sources-2020

Holy shit. Is 40oz gold and 40oz silver enough to make it?

you understand that in 1913 the governments decided the price to paper ratio of gold and silver right? They fixed the price.

Now the Rothschilds do it. Your point?

Silver will hit $1k an ounce within 2 years

Well yea but get more silver

More germane: why would anyone sell their physical for fiat?

Nah, all governments have been using the years of market manipulation to buy it up cheap for the reset. I even heard this weird thing a few years ago that JP Morgan allegedly argued in court that they were acting as an arm of the government.

Sup bitches. Bought at the low, locally 5% higher than spot. Already up 20%.

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it's funny, because that's exactly how we ended up with worthless fiat to begin with
paper dollars were the original precious metal derivatives

Lol

Also bought gold here. You guys should have listened to the boomers

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so what is the significance of Comex "allowing them to deliver LBMA bars instead"?

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Trade ten ounces of gold for silver. The gold/silver ratio is at an all time high. You'll be set.

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>Only the physical shit matters
If it's locked up in a bank it will be seized.
If you have a bar of gold when society collapses you'll just be killed when you go to trade it in.
Physical gold is for billionaires and LARPers

it's only going to go higher, gold is a much better store of value than silver now than ever before
trade your silver for gold is what I'd do

Thank fuck i sold my pm etfs.

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>London is a key gold storage centre, where thousands of tonnes of metal underpin trading, but it uses 400-ounce bars which must be melted down and recast as 100-ounce bars to be accepted by Comex in New York.

>The LBMA and executives at major gold-trading banks asked CME to allow 400-ounce bars to be used to settle Comex contracts, said the two sources, both of whom were involved in the discussions.

Oh boy, recasting all those 400 oz bars sure will take a long time. They're totally serious about delivering and totally not hoping everything settles down and people stop demanding physical delivery in the coming days before it becomes apparent the gold and silver don't exist.

you ok user?

>why would anyone sell their physical for fiat?

Easier to trade.

My grandpa put most of his money in gold and silver around 2010 and missed out on the biggest bull run in history. Then around 2017 family intervened and moved his money into index funds.
.......

silver's unusually low and it's more volatile so more opportunities to get in. Gold is a better store of value but I've been watching it for years and it's competitively overvalued and I foresee either a big correction in gold or a massive rally in silver

>so what is the significance of Comex "allowing them to deliver LBMA bars instead"?

This

That's cool if you want a store of value, but for everyone else it's about a higher percentage gain when the dust settles.

Hold up, so the jist here is to buy real silver and gold and stash it in a safe pronto?

Yeah the government can't touch it then

yeah

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What gold stocks would benefit from this? miners?

holy shit you're so late to the game lmao grab your seat before the music stops

Obv

What does this mean

Yeah for the last 10 years. Good luck buying physical now and enjoy paying out the ass for it if you can find it.

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But any specific ones? I don't follow boomer metal that much and don't know its true stock value.

why would i want fool's bitcoin?

>inb4 seething boomers

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Great job destroying your inheritance

Yeah I was messing with stonks instead of buying the real deal but I didn't have any money to play with until about a year ago. Anyway, I'll look into it. Maybe I'll find something decently priced locally. I do have a few silver ounce bars on me.

So lets be real here, if the whole paper to physical thing comes to a-head, what is the top for silver? 30$?, 40$?, or could we really go to 60+?, i got a fair store myself and I don't want to sell off early.