Silver the New Gold in the East, then West
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- Опубликовано: 8 фев 2024
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SUBSCRIBE to Our Channel: ruclips.net/user/sdbullion?s... The silver and gold markets this week traded flat to slightly down, respectively.
The spot gold price finished its 12th week in a row above the important $2,000 oz price consolidation and coiling. More on that in a minute.
Meanwhile, the spot silver price finished sideways, basically flat under $23 oz.
The spot gold-silver ratio dipped to 89 as a result of gold's relative trading weakness this week.
Thailand was reported this week as having a large uptick in gold demand in 2023.
That is not a surprise if one simply takes a quick gander at their local fiat currency, Thai Baht, getting smoked by gold's ongoing value.
What is also of importance here remains the simple axiom of where gold goes, silver eventually follows.
As we swing now to northern Africa and the long time gold and silver saving culture of Egypt.
Apparently now gold is locally being increasingly shunned by common physical buyers, opting for silver as the better value purchase. As you can see, even with this understated official exchange rate long-term chart of gold and silver in fiat Egyptian pounds, where gold went silver followed.
Locally, in the real world, we can multiply these charts by more than twofold as the real street level exchange rate has recently spiked to over 70 fiat Egyptian pounds to $1 fiat US dollar.
Here's Reuters this week on why silver buying in Egypt is growing versus gold.
A similar growing silver buying phenomenon occurs in virtually every culture whose fiat currency goes through durations of devaluations.
To think we're immune to akin happening here is exceptional foolishness. So, take advantage of relatively low spot prices and premiums while they last here in the Western world.
That will be all for our weekly SD Bullion Market Update.
As always to you out there, take great care of yourselves and those you love.
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Over $34.2 trillion was the US National debt as of Feb 8,2024:
fiscaldata.treasury.gov/ameri...
CHINA’s New Year buyers look to gold as stocks and property crash:
www.businesstimes.com.sg/inte...
China's Young People Can't Afford To Buy Homes, Turn To Invest In Gold | Money Mind | Investment - • China's Young People C...
60 Minutes Powell clip:
• Fed Chair Jerome Powel...
Thailand Gold Demand is up in 2023:
www.thailand-business-news.co...
Silver the New Gold in Egypt video by Reuters:
• Why silver is the new ...
Luke Growmen on Gold 2024 clip by RiskReversal Media:
• The Bull Case For Stoc...
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Yes !
END THE FED. Gold IS money.
Central bankers need to go to prison for what they have done to this Republic. Gold IS money.
Prison??? 🪦
@@giborchayilyes, we have to build the gallows
2.1 - 2.8 Trillion dollars in commercial backed mortgages going bust, is hardly "Manageable".... Pure Lies
😂 where have we heard this before? Oh yeah, Bernanke sub prime is contained in 2008. How did that work out. 😂
bear stearns is fine!
quadrillion in derivatives or MORE, dollars is going to 0, prepare now
A private central bank that cannot be audited determines whether Americans can have their jobs and can eviscerate small or regional banks while stealing wealth through inflation.
How is this a good deal for Americans?
They'll lie right up until a crisis is playing out and then lie some more. When a central banker goes on TV and says everything's fine, you'll know it's imminent.
Thanks James, much respect.
Thanks James and SDB for everything!
MR.ANDERSON YOU MIGHT HAVE TO DO THIS BLOG TWICE A WEEK DUE TO THE QUICKENING PACE OF WORLD EVENTS IMHO SIR. THANK YOU AND THE SD TEAM
I was very impressed to listen to that young Chinese man , and his testimony on how more youths are turning to gold in Asia .
I went to a coin show in Dallas today , and I’m 63 , and was one of the “ kids “ that showed up . 100’s of men in walkers and with canes with silver hair shuffling from vendor to vendor . What a difference here in the USA , and now I saw firsthand ( my first coin show ) why only 1% of Americans own one single ounce of precious metals …
Peace ☮️
It's a shame how younger American's have no clue about the benefits of precious metals. Even showing data where some diversification in metals lowers portfolio risk is completely ignored.
I'm taking my young children to a coin show tomorrow. I've been teaching them about sound money and hoping the lessons stay with them as they grow up.
I experienced the same observation at the Central Florida coin show back in January. I was surrounded by the greatest generation and boomers, I was maybe one of the few w no grey hair. I'm 40. Difficult times are coming to America soon and millions will be terribly unprepared.
@@StackerJames
Good for you ! Those children will have THAT memory for a lifetime …
@@DR-oy9wc
Exactly !
Or for that matter in Europe@@StackerJames
Silver is the real US dollar. It will be hilarious if .75 ozt becomes a dollar again.❤😂 if that happens even coin dealers would be stackers.😂❤
Dealers would essentially be banks. 😂
3/4 ounce for one dollar?
Given the limited amount of silver per person in general I would expect an implosion in wages and prices especially real estate prices.
buy silver with paper.. simple but true.. feeling good about my hoard of silver.. especially because the price is decent atm.. thanks James for the weekly updates!
I so look forward to these updates each week. Thanks James.
Silver is so undervalued, think about it would you rather trade $25 of paper for a case of cheap beer(Or something only worth $22-25) or an ounce of silver ? Seems crazy to part with the silver for something that low in value.
Certainly is a buying opportunity imo. Silver is trading below 50% of ath which cannot be said for gold or other assets. I do believe we will look back and say man it was so cheap back then.
james and sd bullion are top notch, keep stackin folks🇺🇸
Do you expect truth, reality or correct math from Keynesians? Their little experiment is coming to an end.
Good ratio now ✅️
😮Two words, "Financial Armageddon" Not a question of if, it's only question of when.
Thank You James ! 🤓
Always learning good stuff here. Thanks for pulling it all together.
Great update James! It’s easy to fixate on the daily price movements on the COMEX, so I really appreciate your weekly updates on the worldwide macro market. 👍🏼👍🏼
Excellent report 👍👍👍👍👍👍👍👍👍💯
The stackers know🧠😉
Thank you James for another great presentation!
Great report! Thanks! Powell's "fiscally unsustainable" comment is very significant!
managable sounds like purposefull enginered systemic destruction to further consolidate the banking system into a few small giants. easier to control things. debt based money and the federal reserve is the problem imho
Saying things don't look good, is putting it mildly. At some point either we will have a full fledged digital dollar for everyone, or a Venezuela type hyperinflation will set in. In both cases, people will flock to hard assets. I want to buy land as well as metal, but even raw land here has went from around $1500 and acre to an average of $10,000 in the last few years. I don't want to be in town with a lot of scared people..
Scared and hungry people... Without any means for their own food production...
People that are used to hohos, ding dongs, Twinkies, and monster energy drinks. The junk food junkies will be insane.
BORROWING FROM FUTURE GENERATIONS! GOLD to the Moon!
He finally confessed what it really means. Which is sinister scumbag thing to do, effectively stealing from our children. 🤨
@@hellize4212 Do your best to get out of their system. God Bless
@@hellize4212absolutely disgusting
@@patrickkerner1471my daughter has been converting her allowance to metals for about 5 years (she’s 10).
Just checked this morning,on X Tuckers Putin interview is 175 million
Thanks again for this weekly update James and mentioning about Tucker his interview with Putin.
Greetings form the Netherlands.
3:20 onwards - the giveaway shoulders lifting. He doesn't think it will be as bad as 2008.
Except he does 😮
Got to keep pushing the "it'll be fine" narrative.
Currencies are dropping like flies. Hyperinflation has started. Starting in the outer regions first, then coming to the west. It is baked in the cake, it's the inevitable outcome of a fist currency backed by nothing. Prepare yourself and your family accordingly.
Interesting news James especially the news piece on Egypt.
We need Marty Mcfly to go back to 1913 to stop Woodrow Wilson
Before the so-called Civil War would be even better...
Great idea.
To stop Mandel House, Paul Warburg, and the rest of the gang.
Look forward to them. Thanks
Absolutely, urgent fir decisions across the board in our coubtry & internationally.
@sdbullion who won the 2023 monster box of silver eagles you're giving away?
Can you do more .99 cents over spot deals on silver please? 🙏 I like those lol
Opinions have shown zero effect.
No adults in government.
They're adults but they're also criminals.
Minds of children and weaker than women... so I've read anyway
No arguments from me. Carry on!
Did you edit the laugh track out of the 60 minutes interview?
He's right about fiat but we are not his friends and we are not in his club, it's basic manipulation.
He's not worried about banks because they are proping them up. Buying bad bonds giving them liquidity and bailing then out of bad investments.
@@dpirkl4560 Mmm... I am talking about special president Putin. He doesn't care for the benefit of Western citizens more than our own elites.
How about silver dealer crisis? I've had GREAT results buying from LCS, SDB, APM, Money Metals, Providence (in past), among others... but I just recently purchased a 10oz hexagon buffao/indian bar that was advertised as new but arrived scratched with edges dinged up. I contacted the not mentioned silver retailer and the customer service was poor in my opinion. Not only did they not accept what I was saying, they required pictures and then they'd determine if they'd make an exchange... their "experts" had to look first. I wonder if buy-outs, mergers, etc cause poor service? I disputed with my CC company and got a credit. They can fight VISA at this point. They even said, if I disputed the purchase they would prevent/block future sales. I wonder if certain metals retailers are near broke? Anyone having product/service concerns with online silver retailers? By the way, SDB (SD Bullion) has been GREAT!! Regardless, the way things went and how I felt during and after, I won't be buying there anymore at this point. I'll stick with SDB, APM, MM, etc., etc.
Got a vintage SLC JM kilo yesterday for spot($800.00) at my LCS! 10oz Brittania ask $260 tempting me now. Hated premiums last few yrs😊
I can see it dropping before going back up . Inventory needs to be collected even if it’s all ETFs.
Is Jerome Powell wearing a spray tan? Lol.
The demand for Gold does not help Silver as Silver is a byproduct of Gold mining ,I expect Silver to get to the 21.50 level before making any progress this year,weakness in the US dollar may help but when Gold gets mined they find another 10x in Silver so hold your horses on Silver theres so much of it right now,it will take decades for the price to reach $50 as they mine the Gold all the Silver is locked in with it making Silver next to nothing in price
$ exiting stocks will need new homes and holding high dollar% will be scary. AG will rise soon but DIVERSIFICATION IS my1st investment
hey james...i still havent won the sweepstakes...what the heck??? cheers...
Well here comes a depression.
I se this man, Powel and I cringe .We have get rid of the central bank our country should not be finance by private organization's..
If the dollar is eventually going to be useless , why do we Keep talking about silver and gold in dollars. When dollars will eventually be worthless? Should we talk about the value of gold and silver by the Acre?
Hard to do when everything is valued in dollars and price discovery hasn’t happened for metals so there’s no way to tell where it will land
Most don't even give this a consideration, people should imo compare real assets against each other to see which is a better option at that time.
SD 🥇🥇🥇
In hell, everyone is long silver.
And the people going there are shorting.
why not mention the NATIONAL PIGGY BANK GRAB is now at 100 000 for everyman women and child in US ???
Less illegals
He knew you'd pipe up...😆🤠✌️
Also, Most of us already know the current numbers 😉
🌎🗿™️
👍 "Promo SM"
I heard China sells gold $100 more per ounce over spot. It's not because of the premium they actually price it more there.
It draws the sales of gold over there
I read the Shanghai exchange has it priced higher as well