Who’s bidding up the dollar price of monetary metals today? Central banks? Investors who lost tens of billions in Bitcoin on Friday? Whatever the case, the barbarous relic is really shining.
Spot silver climbed as much as 3.7% above $52 an ounce, exceeding last week’s peak, while gold traded near $4,100, building on a record-breaking run of eight weekly gains.
Currency debasement.
Governments clearly don’t care about massive debt financing, and its effect on individual purchasing power of goods.
Debasement.
My bet from 3 years ago is paying off. Only wish I’d bought more.
In real money terms, the price of silver should be $200Am/ounce, to equal the 1980 value, when the Hunt Bros tried to corner the market.
There’s a net deficit of silver in the world right now. While there is silver available in North America, it is Unobtanium in Europe and SE Asia. Demand for personal and industrial needs exceeds extraction.
Today, we’re up 6%(!), $3/ounce. Exceptional.
No, not a bubble.
I can hold a PM coin in my hand. Not so with Pseudocoins.
I believe F. Scott FitzGerald had a central banker cousin named D. Base FitzGerald.
All this here guy can say, bring it on and keep going and going and going.
Maybe I can buy some fine property pretty soon.