Loading ...I don’t think they can sustain it though. We’ll see.
Morning maddog
Looks like we got up to $72.75 in the overnights, but they smacked us back this am?
Pretty impressive that they can’t take silver down for more than a few minutes. Especially considering it’s a shortened session today and volume will be anemic. This would be a good day for the shares to overwhelm the algo’s and pop higher on light volume. They weren’t very impressive yesterday and they should have been.
Not really a fan of Munger, he’s how I imagine Ebineezer Scrooge would be, but I agree with him on crypto. I wonder when they’ll pull the plug on it? What is going to be the catalyst to take it down? Kitco shows Bitcoin with a $1.74 trillion market cap. We could use those funds in our arena. Unfortunately, it will probably just evaporate.
Looks like gold wants to come back?
Charlie Munger on Crypto.via Grok
Charlie Munger, the late vice chairman of Berkshire Hathaway and longtime partner of Warren Buffett, was famously outspoken in his criticism of cryptocurrencies, particularly Bitcoin. He viewed them as worthless, dangerous, and harmful to society, often using colorful language to express his disdain. Here are some of his most notable quotes on the topic:
“I think it’s rat poison.” (2013, when Bitcoin was around $150; later updated to “more expensive rat poison” as the price rose.)
“Bitcoin is worthless, artificial gold.”
“In my life, I try to avoid things that are stupid and evil and make me look bad in comparison to somebody else – and Bitcoin does all three.”
“It’s stupid because it’s very likely to go to zero; it’s evil because it undermines the Federal Reserve system… and third, it makes us look foolish compared to the Communist leader in China.”
“Of course I hate the Bitcoin success. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth.”
“The whole damn development is disgusting and contrary to the interests of civilization.”
“It’s like somebody else is trading turds and you decide, I can’t be left out.”
“Sometimes I call it crypto ‘crappo,’ sometimes I call it ‘crypto shit.’ It’s just ridiculous that anybody would buy this stuff. It’s totally absolutely crazy, stupid gambling.”
“I’m proud of the fact that I avoided it. It’s like some venereal disease.”
“I am not proud of my country for allowing this crap – well, I call it crypto shit. It’s worthless, it’s crazy, it’s not good, it’ll do nothing but harm, it’s antisocial to allow it.”
Looks like yesterdays weak share mkt, was the signal for a serious attack today…as per usual
but looking at how Ag has bounced right back….maybe the short attack will fail…as the Silver story is running now.
Ferrett
It will spread to gold and other metals too and is neutral and universal. No more paper trades of fractional banking tactics There’s in not enough to go around. Not enough life boats. That video was dead on.
On this attack on Farmers and inheritance tax and any global warming scams to steal their farms. It makes me wonder about Creeps like B Gates buying up farmland. There is a obvious move to these psychos hapless plan by making up their own rules to control the food supply including what you can eat and how much. One of the WEF plans to keep people hungry slaves to work for food. I wonder if creeps like Gates were speculating on getting in on it. Communist Merkel or Starmer couldn’t even run a bubble gum machine without running out of bubble gum not to mention the nefarious psychopaths.
goldie, yes, I think all the pigeons are coming home to roost.
Ironic that after all this time it’s a silver panic that is exposing the criminality. But then, it is a consumable more than gold is. Wait until people realise that gold is in the same position of rehypothecation, when the panic will extend to that metal too.
Zelensky is finally acknowledging reality.
Accepting that borders will change. A basis for negotiation. {I had to use apple translate, my Ukrainian isn’t quite up to it}
Silver made par
72!
another kernel of corn just popped…
…the kettle is warming up. 🙂
C Hook
Right and thing the ones who knew and closer to the WW11 and before generation understand it more, than it’s more than a fad, more than making paper money on but is money that can’t be erased by a computer or government that has value and no debt behind it. On that post I meant silver not driver. I got messages and phone calls makes it worse for me than already is. Busy time of yr. Now again bye.
eeos – thanks for the correction on Buffett
I guess I’m glad I said “I’ve never heard Buffett say…”
Seriously, thank you. I think that pretty interesting too about your financial buddy. I wonder if he’s out of the ordinary for financial guys or if that’s the general feel.
The Algo’s are likely short PM shares in size Vs Gold
Note from 2007 the ratio fell form 0.65 to .125…..then traded roughly between 0.12 back up to 0.24 a number of times…all the algos have done is short shares and bt metal…riding each rally out and adding on every rally……as of today they see no need to worry…and are probably as short as they have ever been.
But once the top lines go, they may well find no sellers and a buying frenzy from the public, as news of what the metals are doing gets out and it is….as the mkt wakes up to the only cheap way in, is the shares…..they could run like Plat and Pall are doing….. or faster.
$4500 breached
Silver headed toward $72 but…
Platinum and palladium are off the charts. Platinum all of a sudden nearing $2400, palladium $2K?
Crazy
goldielocks @ 17:34
Gold and silver are Giffen goods … they become more desired by the public the more they go up.
Not kidding
Amals
Yeah especially if there’s a possibility that prices could rise. Even with Trump keeping prices down you could get a messed up governor if voters are over run by migrants like Calif or get stupid.
In California and not all places are warm or snow free if you don’t already have a wood stove or fireplace you cant get one. It has to already be there. They built gas fireplaces then Newscum wanted all electric next and wanted everyone to retrofit out gas stoves and heat. He’s on his way out but who’s gonna be next after that crooked joke.
If you have nothing you can buy one of those portable car battery chargers with cables and fills tires with air and had a place to charge your phone 14 times and get one with a ability to recharge it on your car just run the car lock it.
rno…
Hello, old pal. Good to see you around.
goldielocks and ferrett
Thanks for the thoughts. I’m always considering options.
They’re still buying silver
👍 coin shop he mentions people his age buying for grand children while they can. I just lost another friend last week, the helicopter crew chief darn him 😢. He wss stacking driver.
I network with a financial advisor
I asked him at the end of his six-minute presentation to my group what the biggest mistake might be in investing….. and his answer was Bitcoin. So if we see Bitcoin slide below 85K I’m going in there and I’m buying a bunch of puts in MSTR, try to make some fast cash.
Buffett
1. Bitcoin Has No Intrinsic Value
Buffett has repeatedly said:
“Bitcoin has no unique value at all.” — He doesn’t see it as producing anything real.
CNBC
“Cryptocurrencies basically have no value and they don’t produce anything.” — He said this while emphasizing he never owns any and never will.
CNBC
The emphasis here is on productive assets. For Buffett, true value comes from something that generates cash flow or utility (like a business, farmland, rental property). Bitcoin doesn’t do that.
CNBC
🪤 Classic Buffett Metaphors
2. “Rat Poison Squared”
One of his most quoted criticisms:
“Bitcoin is probably rat poison squared.”
This colorful insult highlights his belief that Bitcoin holds more risk than value.
CNBC
🎭 Valuation and Use
3. A “Mirage” or “Gambling Device”
Buffett has said:
“It’s a mirage, basically.” — implying its value is illusory.
The Motley Fool
He calls Bitcoin more like a gamble than an investment because its value only comes from hoping someone else will pay more later.
CNBC
💸 Productivity vs. Speculation
4. Productive Assets vs. Bitcoin
In 2022, Buffett famously explained his position with a comparison:
If you offered him 1% of all U.S. farmland for $25 billion, he’d take it. But if someone offered him all the Bitcoin in the world for $25, he wouldn’t take it.
Why? Because farmland produces food (real value), and Bitcoin “doesn’t do anything.”
CNBC
He also said that while Bitcoin might go up or down in price, he’s sure it doesn’t produce anything.
The Motley Fool
📦 Positioning & Action
5. He Never Invests In It
Buffett has stated directly:
“I don’t own any cryptocurrency and I never will.” — he reaffirms this often.
CNBC
He also says he doesn’t short it or plan to take any position because he believes he doesn’t understand it enough to justify investing.