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This is a discussion on Silver within the Survival forums, part of the Gunner Forum category; Who knew this would happen? When JPMorgan was found guilty of manipulating the silver market, Holder announced they were too big to jail. But now ...


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Old 07-26-2013, 07:31 PM   #21
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Who knew this would happen?

When JPMorgan was found guilty of manipulating the silver market, Holder announced they were too big to jail.

But now the NYTimes comes out with a report of their own investigation proving that Goldman Sachs has manipulated the aluminum market and mentioned JPMorgan has manipulated the copper market, the next thing you know, JPMorgan announces today they are exiting the commodities market and selling their inventories.

One might gather they have no fear of government or the law, but still fear what the people think.

http://finance.yahoo.com/news/jpmorg...195004354.html

Bernanke gave banks permission 5 yrs ago for them to invest in commodities like metals. They quickly started buying billions of dollars of metals then warehouses to store it in to remove the metal from markets and drive up the price. They made billions in profit in their monopoly. Goldman Sachs owns 34 of 39 storage facilities in Detroit,licensed by the London Metal Exchange(LME), holding 80 percent of the aluminum in the U.S. monitored by LME.

Who could have guessed that would happen?

Last edited by Mike Potts; 07-26-2013 at 11:25 PM.
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Old 03-17-2014, 05:20 AM   #22
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I realize that this is an old thread, but I've never quite understood the allure of gold and silver for after SHTF. You can't eat it, you can't plant it, it's not bulletproof. Is it just because people have been conditioned to believe that it's valuable for so long that they will continue to use it as a medium of trade?
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Old 03-17-2014, 06:13 AM   #23
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Quote:
Originally Posted by Agonnazar View Post
I realize that this is an old thread, but I've never quite understood the allure of gold and silver for after SHTF. You can't eat it, you can't plant it, it's not bulletproof. Is it just because people have been conditioned to believe that it's valuable for so long that they will continue to use it as a medium of trade?
Its because you can't just go out and print a billion ounces. It requires a lot of effort to come up with a billion ounces.
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Old 03-17-2014, 06:27 AM   #24
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When the SHTF paper money can be used for TP it will have no value . Gold and Silver will have a value anyplace in the world .
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Old 03-17-2014, 06:41 AM   #25
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In 1963 you could buy a gallon of gas for a quarter. But that 1963 quarter has 0.1808 troy ounces of silver in it. At today's price of $21.33 an ounce it is worth $3.86 and you can still get a gallon of gas with it. Its not that silver will be worth more. Its that paper money won't be worth anything.
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Old 03-17-2014, 07:04 AM   #26
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In 1963 you could buy a gallon of gas for a quarter. But that 1963 quarter has 0.1808 troy ounces of silver in it. At today's price of $21.33 an ounce it is worth $3.86 and you can still get a gallon of gas with it. Its not that silver will be worth more. Its that paper money won't be worth anything.
+1
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Old 03-17-2014, 08:27 AM   #27
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Right, I understand that gold and silver have value now, but in a barter economy, what value will they then carry? I'm more inclined to believe that food, ammo and labor will be more valued than shiny metal.

I'm not being deliberately obtuse here, really. Just my opinion on this matter. I suppose in a situation where we are relying on it for a medium of exchange, it'll be worth exactly what the other guy is willing to give you for it.
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Old 03-17-2014, 10:49 AM   #28
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Originally Posted by Agonnazar View Post
Right, I understand that gold and silver have value now, but in a barter economy, what value will they then carry? I'm more inclined to believe that food, ammo and labor will be more valued than shiny metal.

I'm not being deliberately obtuse here, really. Just my opinion on this matter. I suppose in a situation where we are relying on it for a medium of exchange, it'll be worth exactly what the other guy is willing to give you for it.
Silver also has industrial uses. Currently there is less above ground silver than in hundreds of years. Every computer, car and toaster oven has traces of silver in it and even to some degree gold.

If you follow the market the price of silver will often rise with the economy which is just the opposite of centuries history. So gold and silver have value not only in bad times but also in the best of times. If you accumulate a lot of silver in a zombie economy you will have a lot of wealth when the better times comes back.
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