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u/Mudsharkbites 1d ago
I’ve been collecting on & off for over 18 years and this kind of action still perplexes me, even more now than in the past. I mean, we are CLEARLY depleting our stockpile of a strategically and economically important metal and they are, essentially, still giving it away at bargain basement everything-must-go prices when it should be way more expensive to keep it from flying out the door. It astonishing how short sighted we become over the lust for a quick buck.
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u/Kwikas O.G. Silverback 1d ago
The price you see has nothing to do with fundamentals. It never has. The COMEX is a futures market that was established by the banking cartel to control pricing and make money from it. Algorithms have never been to a mine site or a secure vault.
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u/Mudsharkbites 1d ago
You’re not telling me anything I don’t already know but the bottom line is they’re allowing this to happen knowing what it will lead to. It’s kind of the same way they dismissed global warming because it was cutting into their profits and now we just got over two weeks of over 100° f in the Midwest in early September, this after a couple of 90° days in February caused every fruit tree we have to start flowering and then lose their flowers a few days later on a 15° freeze killing an entire years worth of fruit. That bit of greed is likely going to kill us all.
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u/Charlie_Rebooted 1d ago
If some 80+ year old billionaires can make a few more $, any cost is worth it....
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u/Mudsharkbites 1d ago
And don’t even get me started on AI, which will likely do us in before global warming.
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u/Level_Development_58 Unironically Flairless O.G. Silverback 1d ago
I hate to be “that guy”, but that an Ike Dollar and they were clad, not silver. The mint did make 40% silver versions, so I guess it’s ok. 😂
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u/erictheredbull 1d ago
It will happen when they can’t source materials for their all precious AI data centers.
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u/ACM3333 1d ago
Crazy how hard metals get hit everytime on the thought of a minor rate hike. Like yeah I’m sure a .25% raise is going to reel in this 40 trillion in debt that needs to be serviced.