Silver Hype???

I don't always buy into this stuff but interesting read.

https://schiffgold.com/key-gold-news/silver-demand-projected-to-set-records-in-2023-and-other-silver-news/

It is an interesting read, for sure, and thank you for sharing, but the hype train is also far too tempting for us all. I think the key facet here is to trust our instincts. Mine say silver should move up, and quite a bit. But, then again, nothing can rival the dollar, so it might stay suppressed a while yet :S

I think the dollar, the euro, the pound and yen are all toast and silver/gold is the real King here. The dollar only looks strong because the rest of the fiat world is so weak. But the dollar is really all smoke and mirrors, an illusion, backed only by guns and forever wars.

The world still needs the dollar @denby
I give credence to Brent Johnson's "Dollar Milkshake Theory".
When it's all said and done, the dollar will be the last to fall.
It may take some time yet, but there will be a massive wealth transfer when it does happen.
You can also see it as an opportunity of a lifetime.
We must be sensible and hedge against it using precious metals.

The rest of the World is getting rid of their dollars as fast as they can. Every Country has seen the dollar being weaponised, nobody needs the dollar once it loses it's Global Status as the World Reserve Currency. That's why Gaddafi,
and Saddam were killed because they started the cracks in the PetroDollar.
China, Russia, Iran, Pakistan, India, Brazil, South Africa, Turkey, India, all want to deal using their own Currencies nowadays, even Saudi doesn't mind Roubles, Yuan, Rands, Rupees etc. They all know that borrowing USD from IMF just enslaves their own populations into even more debt. If USA aint interested in ever paying off their Global Debts why should any other Country worry about theirs?
Anybody with dollars should buy Gold with it while it is still cheap as chips.

I agree @denby. However, a change in the worlds reserve currency will more than likely require a war. The only thing keeping the dollar hegemony is the US military complex. As long as they exist and back the US central bank, IMF,, etc. the dollar remains king. I can’t see a shift away from US dollar hegemony happening for some years yet. It will happen, so we need to be ready for when it does.

When was the last time the West won a war? We very rarely win nowadays, as it appears that the war is more important than the winning, as if if was for nothing other than weapons profits.

If USA/UK think they can win a war against the Russians and the Chinese, they should think again quickly as our Armed Forces can't even recruit people to the Army. And we are way behind on fighting robots too.

War is just used by us to keep people scared and on the move, and to keep the chaos going as long as possible with us lot supposedly controlling the chaos ha ha.

denby wrote:When was the last time the West won a war?  We very rarely win nowadays, as it appears that the war is more important than the winning, as if if was for nothing other than weapons profits.

If USA/UK think they can win a war against the Russians and the Chinese, they should think again quickly as our Armed Forces can't even recruit people to the Army. And we are way behind on fighting robots too.

War is just used by us to keep people scared and on the move, and to keep the chaos going as long as possible with us lot supposedly controlling the chaos ha ha.

Yes, reminds me of modern day medicine. Don’t treat the cancer, just manage the symptoms. All about the money and influence, money for the plebs doing the dirty work and influence for the super rich. That said, there are loads of good people in this world. Let’s hang out with them

If and it’s an if the BRICs group of countries continue to push the gold for oil and continue to accumulate gold for their central banks, they will inevitably force a price breakout.

From an article I read

The latest data from the World Gold Council (WGC) shows that Turkey, Uzbekistan, India, and Qatar were the biggest buyers of gold in the third quarter.

Is Russia Secretly Buying?

But a significant amount of gold has also been bought by central banks that have not publicly reported their purchases, and the WGC did not provide any further details on which countries these might be.

There are market rumors that Russia, in particular, may have ramped up its gold holdings substantially. China and Russia are among the countries that do not regularly publish information about their holdings. Many market observers suspect that Russia is buying up a large part of its gold production in order to become less dependent on the dollar.

Interesting

Yes very interesting indeed. Why wouldn’t Russia and China buy in this current climate. They know that the east has a very keen understanding and appetite for precious metals.

China and Russia are buying, heavily.
They just don’t report it.

All will be revealed in time.

They need 3 maybe 4 attributes for a perfect storm to push a credibly dollar rival.
They will only get 1 go at it so they need to be in a strong position.

1. The dollar needs to weaken itself through large amounts of national, corporate and individual debt (the US is doing this for them).
2. Trust in the dollar needs to be further undermined by low trust often through a high volume of counterfeits; China has form for this.
3. They need a credible alternative backed by something greater than the US treasury IOU. Backed by gold and silver is a win.
4. They need to have something and some avenues that the world needs to trade on. They have this with oil and gas (especially as Saudi is becoming increasingly US hostile and pro China & Russia). And with China they can effectively have a must use Chinese backed currency to trade with China, most of Africa and increasingly South America is in the pocket of China.

Add in some further US hostility and US domestic issues and you have the perfect storm.

I don’t think this is as far away as some other do.
By 2030? I would say it’s more likely to have happened before then.
Interesting times.

2030 is a very long way off. Things are moving fast, it’s just out of the public eye at the moment.

Interestingly it’s being reported the US retailer AMPEX has had record gold and silver sales over the past 2 days; possibly a response to the banking crisis.

And despite the rubbish Joe Biden says, the US taxpayer is bailing out the banks and the billionaires as they are taking on the assets (debt) at book value not its true value which is lower.
Can’t have billionaires who are reckless losing money!

No doubt this will push up inflation ; be interesting to see if the US continues the inflation rate increases an if it’s subordinates in the EU and UK follow suit.

To keep the Fiat bubble going they are in a tough spot.
Keep raising interest rates but in turn exposing more bad banks and lenders leading to more dead companies going under OR allow inflation to spike again, etc.

The circus has to come to an end at some point; holding physical silver and gold will be a good place to be when the music stops.

@SanMarino, I agree with you on all accounts. There isn't an easy way out of this mess. The markets are loving the SVB failure, looking for the Fed pivot, and the fed is looking at the markets for a slow down with just their rhetoric. Either way, the system is badly broken. I think the contagion is silently spreading. Only a matter of days/week before we get a cascade of defaults and panic in the mainstream media. The downtrodden precious metals will have their day in the sun. Not that I want any of it to happen mind you. Somewhere deep inside, I do however want to see the precious metals folks vindicated, but we will have to see some very hard times for that.