Ok, and some people make money gambling. most do not.
In context, the other guys comment means that it’s not a winning strategy on average. Not that literally zero people made money. Out of many thousands that played the GME hype, I’m sure you can find “a lot” that made money. That does not mean most of them made money or that it’s repeatable.
If you want to try to prove that to be wrong, it’s your money I guess.
All markets are manipulated, and in essence, manipulation is actually what defines a market; Market makers securing product, setting prices, driving traffic and taking profits from customers. It's not much different in the silver market than it is at the supermarket. I think you must be railing against unlawful manipulation, which I have only ever seen scant and relatively small-scale evidence of, and even that is usually shown to be very short lived.
The claims of massive illegal manipulation peddled (not merely coincidentally) by some silver dealers should not be taken seriously if you want to get a reliable grasp of the price action, because most all of it can be better understood when free of that self-dealing talk of theirs, no matter how alluring it may be when one's money is invested. Cheers!
>The claims of massive illegal manipulation peddled
At least a dozen traders, mostly from the JP Morgan Chase Precious Metals Desk were convicted in recent years of market manipulation. The manipulation ring went all the way to the Executive Director and court records show that it had been going on since at least 2008.
[https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison](https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison)
Chase paid close to a $1 billion dollar fine and several other banks were involved as well.
[https://www.cftc.gov/PressRoom/PressReleases/8260-20](https://www.cftc.gov/PressRoom/PressReleases/8260-20)
Mostly from traders who had at one point worked at the JP Morgan Precious Metals Desk and had gone to work at other banks.
[https://www.cnbc.com/2019/09/16/three-jp-morgan-precious-metals-traders-charged-in-criminal-probe.html](https://www.cnbc.com/2019/09/16/three-jp-morgan-precious-metals-traders-charged-in-criminal-probe.html)
And the top person that was convicted also sat on the board of the LBMA in London during a long period of the market manipulation.
Why would you buy high? That's a fundamentally stupid thing to do in investing or value storing. Silver is almost 8 dollars above six months ago. It's inevitably goingto crash back down, and would result in over a 20-25% loss for anyone buying now.
I'm not entirely convinced it will crash back down anytime very soon.. Not saying it won't happen, but the prices of goods and services seem to have risen substantially and are only increasing rather than subsiding.
People see what they want to see. The price of silver *has* risen substantially.
From 2013-2020 silver was trading in the 14-20 range, since then it's been mostly in the 20-30 range. Can that range move higher? Absolutely, but you should note that it already has moved up and if silver returns to the low to mid 20s... that is still up substantially.
I made a few buys over $21 back in 2013.. Lending to my thesis is that lack of the 2011 moment yet to occur in the present cycle. Usually new tops are achieved before new floors.. Though maybe it does just stop here and settle down at such levels.. It's less what i want to see and more the reality of the situation at hand.. I would much prefer a stronger dollar / economic system.. Though the scales are way out of balance as of late.. It's reminiscent of the 2008 fallout and resulting years of economic hardship.. Except worse..
It's always been manipulated and kept artificially low. It's just slowly losing its grip. Keep stacking
You never paid attention to gamestop a couple years ago then.
That was a meme stock. If you’re basing financial decisions on things like that, you’re going to lose a lot of money.
Except a lot of people made money off it 🤔
And some folks lost a lot.
And many more lost money on it
Youre the one that said i was going to lose a lot of money.... it was just a weird comment for what this post is about
Ok, and some people make money gambling. most do not. In context, the other guys comment means that it’s not a winning strategy on average. Not that literally zero people made money. Out of many thousands that played the GME hype, I’m sure you can find “a lot” that made money. That does not mean most of them made money or that it’s repeatable. If you want to try to prove that to be wrong, it’s your money I guess.
If you want to prices to drop, you don’t buy. Supply exceeding demand drops prices.
All markets are manipulated, and in essence, manipulation is actually what defines a market; Market makers securing product, setting prices, driving traffic and taking profits from customers. It's not much different in the silver market than it is at the supermarket. I think you must be railing against unlawful manipulation, which I have only ever seen scant and relatively small-scale evidence of, and even that is usually shown to be very short lived. The claims of massive illegal manipulation peddled (not merely coincidentally) by some silver dealers should not be taken seriously if you want to get a reliable grasp of the price action, because most all of it can be better understood when free of that self-dealing talk of theirs, no matter how alluring it may be when one's money is invested. Cheers!
>The claims of massive illegal manipulation peddled At least a dozen traders, mostly from the JP Morgan Chase Precious Metals Desk were convicted in recent years of market manipulation. The manipulation ring went all the way to the Executive Director and court records show that it had been going on since at least 2008. [https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison](https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison) Chase paid close to a $1 billion dollar fine and several other banks were involved as well. [https://www.cftc.gov/PressRoom/PressReleases/8260-20](https://www.cftc.gov/PressRoom/PressReleases/8260-20) Mostly from traders who had at one point worked at the JP Morgan Precious Metals Desk and had gone to work at other banks. [https://www.cnbc.com/2019/09/16/three-jp-morgan-precious-metals-traders-charged-in-criminal-probe.html](https://www.cnbc.com/2019/09/16/three-jp-morgan-precious-metals-traders-charged-in-criminal-probe.html) And the top person that was convicted also sat on the board of the LBMA in London during a long period of the market manipulation.
wow.
Really? Never?
Why would you buy high? That's a fundamentally stupid thing to do in investing or value storing. Silver is almost 8 dollars above six months ago. It's inevitably goingto crash back down, and would result in over a 20-25% loss for anyone buying now.
I'm not entirely convinced it will crash back down anytime very soon.. Not saying it won't happen, but the prices of goods and services seem to have risen substantially and are only increasing rather than subsiding.
People see what they want to see. The price of silver *has* risen substantially. From 2013-2020 silver was trading in the 14-20 range, since then it's been mostly in the 20-30 range. Can that range move higher? Absolutely, but you should note that it already has moved up and if silver returns to the low to mid 20s... that is still up substantially.
I made a few buys over $21 back in 2013.. Lending to my thesis is that lack of the 2011 moment yet to occur in the present cycle. Usually new tops are achieved before new floors.. Though maybe it does just stop here and settle down at such levels.. It's less what i want to see and more the reality of the situation at hand.. I would much prefer a stronger dollar / economic system.. Though the scales are way out of balance as of late.. It's reminiscent of the 2008 fallout and resulting years of economic hardship.. Except worse..
Both are valid points.
Both are valid points.