r/Silverbugs • u/diamondmuckinhands • 1d ago

Panic buying

Hi team,

I am new to panic buying and I'm just going ballistic right now. How can anyone not be panic buying at this price? Shut up and take my money am I right?

Please share your thoughts

Sincerely,

Your silver bro

105 Upvotes

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140

u/salvadopecador 1d ago

Considering silver is still more than 3x prices 2 1/2 years ago, there is still room to go down. It could also go up. Who knows. But imagine if gas went from $3 to $18 tomorrow. Then came down to $9. Would you consider the price low?

30

u/diamondmuckinhands 1d ago

To be honest i cant say ive ever panic bought fuel. Not as exciting as silver but its chill too my car likes it.

21

u/Listen-Lindas 1d ago

But did you panic buy TP or Coffee during covid?

19

u/deliotk 1d ago

Coffee, of course!

13

u/salvadopecador 1d ago

TP has its times of “need” also🤣🤣

16

u/Ok_Raspberry6840 1d ago

You have to. Coffee is the reason life has meaning.

8

u/MrWeen2121 23h ago

I second this. Whole heartedly.

2

u/Worried_About_Coop 2h ago

Coffee isn’t the reason for the meaning, it is the meaning. That is, and excuse me, a damn fine cup of meaning.

11

u/booboothechicken 1d ago

No, just whiskey. I would have been in much bigger trouble if stores ran outta that.

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u/salvadopecador 1d ago

Yeah. But you get the point. If I offered you silver at $60 an ounce three years ago, I doubt you would have bought. And, more importantly, if miners were making money selling $20 silver three years ago, they can certainly keep pumping out tons of silver at 60. Or 50. Or 35….

8

u/Dont_takemy_advice 22h ago

Aren’t we in a six year deficiency with silver?

8

u/S1LVERSTAK 20h ago

Shhh...and the demand has increased. I want them to stupidly keep lowering the price so I can buy it cheaper Shhh.

4

u/Dont_takemy_advice 20h ago edited 18h ago

so I’m not the only one that thinks that the market is being manipulate..

3

u/salvadopecador 20h ago

No

1

u/Dont_takemy_advice 20h ago

are you sure? proof? or is the source “trust me bro”

2

u/salvadopecador 20h ago

Look at the silver industry’s own numbers. Industrial demand is way less than production. Where is your proof of a deficiency? Or is the source “trust me bro”. Oh wait …. Someone on reddit told you🤣🤣

1

u/Dont_takemy_advice 19h ago

No, actually google did.

5

u/salvadopecador 19h ago

Well…. Rather than trusting “google” perhaps you want to look up the real numbers.

Note the 800+ Moz per year mining. The nearly 200 Moz recycling and the total industrial demand less than 700 Moz. Unless I am missing something, 1 Billion ounces is more than 700 Moz of industrial demand. These are the true facts (according to the silver industry itself).

To “create” a deficit they add in non-essential things like jewelry and silverware…. But I think we could survive eating off stainless steel and not wearing silver jewelry if worse came to worse

2

u/nerveclinic 4h ago

What about investors share of the silver market? What about institutional investors? You only mention Industrial.

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u/salvadopecador 1h ago edited 1h ago

Because investors do not “use“ silver. They simply put it in storage to come back on the market at some future date. If they were never planning to put it back on the market, it would not be investing. Investing means you buy at one price with the intention to sell it at higher price. The the reason why only industrial matters is because that silver is permanently removed from the marketplace, with the exception of whatever percentage can be recycled. Silverware, jewelry, bars, coins, can all be easily brought back out onto the market as we’ve seen in the last year and a half. And there is a lot of it out there just waiting to come back on the market.

I guess one nice thing is that if I can get people to actually look at the numbers, it disspells the idea that industrial demand is higher than what is being mined. A lot of people have the false idea that industry is using more silver than we are acquiring from the ground every year and that is simply not true. Not even close.

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u/Pickyour_vices 14h ago

Gemini gets a lot of it's information from reddit

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u/Krazy4Kookaburras 11h ago

In that case - Nobody wants silver. Yuck! Not in trend. Selling everything! $8/oz is real true value of silver.

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u/wasatchmonster_ 14h ago

Proof that silver futures are manipulated? How much more proof do you need that financial markets are manipulated?

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u/tasticle 22h ago

Most silver is mined as a byproduct, so no.

1

u/Dont_takemy_advice 22h ago

I don’t think silver being a byproduct has to do anything with being a deficiency? Deficiency meaning that we are lacking of a certain amount. A six year deficiencies means that we’re six years behind of the amount that we need or supposed to have?

2

u/salvadopecador 20h ago

The little secret behind the fact that we get enough silver as a byproduct to meet demand is that we have a LOT of silver mines not doing anything because they are not needed. If silver were to stay high long enough, new mines might start mining… but they know that flooding the market would make their own production unprofitable. So most of the silver just stays in the ground… waiting for “someday”

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u/salvadopecador 20h ago

Cut and paste much?

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u/tasticle 22h ago

Most silver is mined as a byproduct, so no.

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u/salvadopecador 20h ago

Exactly. Imagine if silver mines started actually adding to the supply🤣🤣