Silversmith's Shocking Claim -- Silver Spot Price Could Completely VANISH Soon!!
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- Опубліковано 21 тра 2024
- Local Silver Mint products ➡️ bit.ly/SilverDaveItems
In this video my bullion dealer Silver Dave of Local Silver Mint claims silver's spot price could completely vanish! Is he right? Could the insane COMEX market, with their massive and fraudulent paper claims on physical silver, fail to deliver on its silver promises? Could there be panic when the price of silver hits $50 an ounce, $60 an ounce, $100, $120 and silver deliveries cannot be made?? Watch as we discuss this real threat and show the amazing manufacturing process of Local Silver Mint's silver wrenches and silver hammers. Join Silver Dave and his team on another tour of their incredible silver mint! Never before has stacking precious metals been as important to do as it is today. Protect yourself from out-of-control governments, evil central banks, and the failing US dollar's grip as the world's reserve currency. Make sure you build a stack of silver rounds, silver bars, silver coins, and gold coins as essential barter and wealth preservation!
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#Silver #SpotPrice #COMEX
It's my opinion that once silver moves past 50$. The Comex will shut down in my opinion and declare force majeure. Then no one knows the silver or gold price. It'll be the moment that essentially the ETF and Derivative Market literally collapses. People will call in and panic when no one gets anything they're owed.
Yes, they will be calling, but will those calls be answered or put on indefinite hold?
"The Comex will shut down in my opinion and declare force majeure."
Or forced manure... as if having the chit kicked out of them.
It's true no one knows the price but that's because they've done a lot of deception removing the idea of value from the price. Everybody knows the price of everything yet the value of nothing, just like people think paper currency is money even though it is not money
So will silver become worthless or priceless 🤔 🎉❤
@@edb3877phones will be out of order.
@@JFEnterprize I think only temporarily, because at some point, all assets go to their true fundamental value.
Hard to believe people trust others to hold their silver in a vault instead of in their hands....
Yes, in China, the shops closed up with peoples gold and left town. Government refuses to do anything.
Not surprised at all, take their phone away and most ppl wont find their way home
@@GrizzlyJRofficiallolol
Some do it because they invested in, or converted to, a precious metals IRA, which was a smart move. When you do this, the metals have to be stored in a depository, otherwise taking physical delivery incurs taxes and an early withdrawal penalty if the account owner is under 59-1/2. This is definitely one time where it’s a good move to have your metals secured by someone else.
Hard to believe people trust others in general.
The paper market on silver is like a big game of musical chairs and when the music stops, there gonna be a lot of people left without a seat
Except its much worse than that because when the music stops, not only are there way less chairs vs people standing, they will take away 90% of the chairs right before they stop the music. 😂😂😂
Customer, “Hello. I’d like to take physical delivery of my silver please”
Customer service, “Sorry, you’re breaking up. Can’t make out what you’re saying. Please call back when in a better service area.”
Click
Customer Service -- Me No Speak Hinglish,, lol...
😂😂😭
The rules of the comex are that they can at any time refuse delivery and settle with cash.
You realize that the FED dollar is worthless and losing value daily, Silver is not going up in price, the dollar is falling!
That’s why I stack as much as possible every paycheck
Preservation of wealth!!
Price is set by demand and supply. Just shut your stupid mouth.
No, the Fed dollar is not worthless but it IS worth less than it used to be.
If it was worthless, we couldn't use it to buy silver and gold at any price!
Exactly!!!
It is Biblical that at some point we will not be able to buy or sell. Which at some point, bartering will have to take place. IF YOU PUT GOD FIRST HE WILL ALWAYS PROVIDE. Do not put gold and silver before him. It’s ok to have it, just don’t worship it. Use common sense and stock up on your needs. Keep silver and gold as plan B.
The Bible was written by man and not God. Remember that too
@beebob1279
God used their physical body as a vessel/tool. The information that came to their minds was channelled through them by God.
God is a woman
@sixfigureskibum
You must be pagan.
@@bradleyjordan5365 No, the Romans took all the different sects and their writings and put together the new testament to meet Rome's needs. That's it and nothing else.
They left out books of biblical stories to meet their needs.
Silver Dave is always a blast with his seemingly boundless enthusiasm! The hammers and wrenches are incredible. I'm going to have to see how much they are... there might be a shiny new tool in my future!
Have you seen his swords?
@@russelbrown6275 I have and they are equally neat!
I bought a Wrench and it was 9.4 Troy Ounces. I forget what he charged over Spot for manufacturing, I think it was 6 or 8 %. He had a variety of Wrenches at the showroom, my budget that day was $300 so I just picked out the one I wanted in that range...
Thanks! And this is exactly the reason why I don’t use vaults to hold my Precious Metals nor have 401(k)s for precious Metals… I only want physical Precious Metals,period.
Besides, there is no paperwork if I need to give up any.
today was the day for all of us silverites to buy with a 4% knock down. Don't you love it when a crazy (like a fox) person starts their own business and succeeds. Who would have guessed silver hammers and wrenches would sell? I admire your inventiveness Dave.
..., AND silver .. DID NOT .. give back the $1.97 that drove it .. [forever?] .. above the 30$, New Floor....
Can you imagine how much over the actual value of the silver he has to be making on those in order to; buy the silver (recycled rounds with which the market is hugely oversaturated, probably from S.D. Bullion!), lease the space,+ utilities and insurance, pay for the fuel to smelt, pay emploees, pay for all the incidentals/materials to cast these doodad/novelty bars, and he and S.D. Bullion are then both able to pull a wortwhile profit from the project! The price people/consumers are paying for novelty pours/collector and 'VINTAGE' bars and rounds, is so far removed from any realistic valuation of silver. Hope you love your novelty artsy silver items deeply, because you are unlikely to EVER recoup the premiums you paid above the actual valuation of silver once the dust settles and the metal finds its equilibrium. I beleive the primary reason silver has risen at all, is because of the hype (and quiet fear mongering) bullion sellers and the various internet metals gurus and others (let's not leave out the doomsday end of the world stacking crowd) have whipped up in order to sell more! more! more! within the general population. When Costco and Walmart jumps on the bandwagon you know the pickins are easy and fat!. It's Marketing 101. Create urgency, a shortage, an infrastructure of 'experts in the know' "4 out of 5 doctors endorse....." so on and so on. What a gravy train!
They make other silver products too. Great shop to go to.
Honestly, I wonder if he could do a set of maybe 20 dice and engrave numbers into them. Would be nice for my pokemon deck to have silver damage dice.
Thanks for giving us a peek inside the silver foundry. I thought it was fascinating. Keep stacking!
It's hammer time? When Yankee grabbed the bucket of buffaloes, Dave should have said "can't touch this".😂
Hahahahaha.
♫ Bang, bang, Maxwell's silver hammer
Came down upon her head
Bang, bang, Maxwell's silver hammer
Made sure that she was dead ♫
The silver movement is in full force. This is a sign that WE THE PEOPLE are making the change! USA 🇺🇸
Actually it's an indication that WE THE PEOPLE are being screwed. Most people don't own any silver. The price of silver has gone up, because the value of our fiat currency is diminishing by the minute.
GOT SMASHED DOWN TODAY, NOT SURPRISED!👀
If it keeps going up, then there's problems.
Bix Weir has also said that the Comex will no longer trade silver as spot price exceeds $50. We shall see.
What a great video!!!! A lot of enthusiasm going on.
I'm from the UK, and I agree totally on what he is saying. I've been thinking that way for the last three years.
I've had discussions with several jewellers about this, but they can't seem to grasp it.
Wow, really enjoyed that.....thanks guys. You're reaching out to Cambridge, UK and putting a smile on my face 😊
Reality check for the paper silver owners. Shhhhhh
❤
Yes, it is. They still think that they have real wealth in their paper silver stash. ha ha ha ha ha Something about fools and their money?
@@edb3877 No, it is only a tool for them to hammer the price down.
No paper silver in this house or in the back yard next door.
Great video Yankee, love to watch Dave. The Local Silver Mint is very innovative,cool! Thanks
He might be correct , it was at $32.50 and that vanished down to $32.00 and then that vanished down to $31.50 and then that vanished to $31.00 and then that vanished down to $ 30.67 but only because the price setting mechanism closed , to cool off the computers for an hour !
30.79 AT 5:22 P.M. EST SPOT SILVER MONEX AND KITCO COMEX
"... and then that vanished down to $ 30.67 but only because the price setting mechanism closed , to cool off the computers for an hour !"
Yep, classic move on the part of TPTB... rug pull. 😕
@@user-do4wn5pk4j May 22, 2024 5:59 PM NY Time
Kitco 10AM Silver Fix
Silver
30.67
-1.26
It was $22.00 less than 10 months ago. Wouldn’t be surprised to see $27 re test. People focus 2 much on one or two weeks move. Direction in long to is up. No need to focus on short term
So it’s a rug pull from $32 to $30.70 but nothing when it rips from $22 to $32 ? So tired of the focus on two dollar moves. It’s mostly legit price action. Can’t have it both ways
Went to a Walmart of the west side of Las Vegas today- completely cashless now
Great video guys. TY Silver Dave for making LSM for all of us. Love your fractional and also love your fun products. YES, IT IS HAMMER TIME!!!!
Those cast silver hammers and wrenches are absolutely Beautiful ! And it was very cool watching the new triple burner smelting kiln.
OSHA must be going crazy if they're watching this.
What an awesome video , thanks for sharing
I never wanted a wrench more than now.
It's been a while since i made an order but just checked Silver Gold Bull and their inventory is nearly depleted. They have one option for silver round and it's a round with absolutely nothing on it. I have never seen stock this low...
Silver Dave absolutely Rocks! Innovation genius and that dude can spot talent a mile away! Love seeing him, Yankee! Thank you for a real Silver experience ❤
Please correct me if I'm wrong, but I thought that amongst the tiny print of COMEX derivative contracts, there is a "get out" clause that says that futures contracts do not need to be settled physically if there is a shortage of physical gold/silver? So when there is a shortage, futures holders will be given the cash alternative at maturity. Is that right?
That’s exactly right😊
@@asabovesobelow7200 but at what price? Price of original contract?
So for their IOU paper they will echange for you another form of IOU paper that is depreciating in value very quickly. 😂
Awesome video. Great to see the behind the scenes stuff. Would love a spanner for my collection.
I just ran across "Silver Dave" in one of your other videos...and was thinking "I'd love to see his 'foundry'." And...here is a peek! I'm in NH...will have to take a drive over to his shop. I need a lesson in silver testing. Thanks for putting these videos out!
STACKING SINCE 1955 HAVE OVER 70,000 TROY OZS. OF .999 OR.9999 FINE SILVER SOVEREIGNS. HAVE 112LBS. OF CONSTITUTIONAL SCRAP SILVER. AND 3,400 TROY OZS. OF .999 BULIION ALL 5-10 OZ. BARS.
You are the silver deity.
This brings a tear to my eye . Beautiful if true . God bless
What was your address again?
Wow 😮
Let's do this❤❤❤
You should have a small handle on top the wooden wench form to pull it out of the sand easier
It's about time someone has tools more expensive than Snap-on 🤣 $38.95 per oz - 24oz hammer/ $39.95 per oz - 8oz wrench
How cool!, been awhile since I’ve seen a smelting shop. Thnx. I enjoyed this
What he’s talking about he will never see in his life time.
Never say never. Lots of weird chit will be happening once the gold and silver price manipulation nears its end.
Such is almost always the case when their is a financial regime change. At that point, one will either have some
real wealth, aka gold and silver, or they will not have any.
I think we see it before the decade is out!!
I think we will see it before the end of this year.
You must not know your history, as well as you don't know the difference between money and currency, which would explain your lack of understanding for the difference between value and price 😅
I think we are seeing it now… at least the beginning.
Great video! I've never seen a silver mint operation before. Silver Dave is quite a personality and seems like a fun person. And I like the talented mold maker's Jamaican accent too.
I heard that a lot of the 'paper silver' contracts, have a clause that they aren't required to be able to get a physical delivery, and the person giving the contract has a right to settle it financially. I wonder if they can set the price super low to 'settle financially' - as they just print as many paper silver as they want it seems (driving the price low) - then it could be widely known they have No silver to ever deliver, no one would want to buy their paper silver, the price drops more, yet ironically they "set the silver market price", and then it explodes outside the paper silver market, and paper silver market is worthless as there's no guarantee or even expectation at that point of ANY silver delivery.
So basically when it comes to gold/silver ETF...
IOU paper = IOU jack sht
😂
This is exactly why people trade the paper contracts, if those investors were genuinely concerned about holding physical, they would pay the premium and do it. People who trade paper and do so successfully want to see cash gains and could care less about the physical holdings. If spot jumps up to $40, dealers might pay $38, maybe! At that point you look for mid level dealers and you might get $39. My point is, as far as cash is concerned, the paper traders win on the big jumps, physical holders/dealers have to wait for price stability before comfortably buying at the new price support levels. Big silver dissappears at bullion shops on price jumps because they can't get rid of it fast enough which equates to negative premiums.
The price is about to be hammered:D
He really needs to make silver knuckles! I’d buy a pair! I even have a pair of brass knuckles he can use as a mold
If they work on Vampires they should also work on Democrats!
@@AboveAverageMan97 💯
Hey, .. good idea! ...silver crosses, and STAKES!
@@michaelangelobergeron5980 I mean have you seen Joe Biden lately? Dracula dead and loving it!
Why isn't he vacuuming it while at the point of grinding & polishing? No reason the dust should ever hit the floor.
That makes no sense.
They sweep and recover dust. Everyone does it
Silver Dave is my neighbor, a bunch of us hung out last night at the Camp Fire Pit. He has an extraordinary Mint setup, I've done some of his steel fabrication in it.. The most impressive thing about Dave and his crew is how brilliantly they have developed their processing techniques for all the unique original products they are producing. I bought my WRENCH a couple of months ago, it's 9.4 Troy ounces, and has increased in Value over $50 dollar's in that short period of time. I'm excited to see where the spot price goes this week...
When everyone is interested, sell. When no one is interested, buy.
The bull is awake ..we haven't begun to see ppl buy yet
Buy buy buy
@@shadowbanned4daysright, not really main stream yet just pandering to certain audience.
It’ll get more popular as prices rise though.
What? No to-go silver service? lol
Love Silver Dave's enthusiasm and knowledge of the silver market. Hat tip to SD Bullion for offering such interesting and innovative products.
Coolest. Field trip. Ever! I wish this shop was near me. Thanks Yankee😊
I was just literally talking about this with a friend tonight. I just sent him this vid. Thanks you two
That was a really fun video to watch. Much love from Canada Yankee!
If the comex shuts down, will the shanghai exchange not become the real price determiners?
... nope! Maybe, we just won't sell, and we'll keep our real monies, in America. We can do this! It's been a LONG TIME since we've really shown them our muster. ... Victory Gardens, Victory Homes, Victory Schools, Victory Hospitals.
@@KentSergent-xe7kxmost Americans really have no allegiance other than their own interests. If China offered attractive prices people will sell.
Very interesting perspective on what Dave was saying about the the paper silver and spot price.
Dave makes a great point. We are already seeing that happening when you go to shops with the premiums. At times the spot price is irrelevant compared to the price you pay for physical silver (and other metals for that matter)
Looks like he is baking gingerbread wrenches. LOL
I purchase 1 dozen jumbo Yard Eggs for 1 Mercury dime, can't buy these in the big box stores
What's a jumbo Yard Egg?
@@edb3877 The largest farm fresh egg that comes from a local neighbor who allows their chickens access to graze their acres of land. Free range is another name. But I personaly have been there to see it.
... Victory Ranches!
Wow, this was amazing! Dave is so COOL! Thanks, Yankee!
Small investors never want to take delivery because the point is when you buy silver on paper you only need 10percent. So to take delivery you need to put up the other 90 percent. Also Comex does not have to deliver it can just pay it off in cash. Like all commodities markets delivery is soooo minor. No one wants barrels of oil or train cars of soybeans. Like stock certificates you can't cash in A T and T and get a bunch of phones.
Very cool to watch.enjoyed much.
Love Dave, he’s always thinking!
OK Silver Dave, do you do trades? Gold for silver or vice versa? And how big of a trade are you OK with? Tim seems very hesitant with what I want to do. Sorry Tim. I do love the old school Yankee ingenuity with your smelting furnace. Oh and upmost respect... Thank you for your service to this (what was once a great) country. God willing, we will return to what you once defended.
The K wool gave me flashbacks of working on the blast furnace at Geneva Steel in the 90's.
Very logical reasoning behind the spot price. Good video
Great episode Yankee, thank you
Very cool to watch ! How about a full range of sizes that would be the perfect place to store bullion in plain sight, chucked in the tool box!
Yankee, great video. I think it is a highly possible scenario. Although, I think it would have to happen quickly. I DO think this call on empty contracts will be a marvelous time to trade Ag for Au! Ratio? We don't need no stinking ratios! 😠👍
Nice tools. The spot price isn't going anywhere. They may stop trading physical but they will still trade paper. Without a spot price there is no frame of reference for the prices. If the metal runs out they will settle contracts in cash. If your trading contracts you already know this is a possibility.
"If the metal runs out they will settle contracts in cash."
Which does FA for those who NEED silver to make their products. I'll buy an Apple iPhone
when I can trade in a silver Maple or ASE for one of their top of the line models. 😉
I miss my career in tool and die. I see so many ways to improve the process that's beneficial to company and employee . Excellent video.
OMG what a great video once again. So much entertainment and information. I feel like Jonny 5 in the movie Short Circuit, more input Yankee, more input. LOL. You are such a blessing and inspiration to us and may God bless you abundantly. Also love the work the silver guy does in this video. High five him for us also.
Cool stuff! I learned something new, That's what a good video/Interview should be.
This was a cool video and great information aswell. I really like those silver wrenches they look great.
I did not see the oz weight on the casting or the .999 silver marking. I notice when he drew the pattern that there is what we all a rip in sand when you draw the pattern. To help eliminate the rip we used to what we call rap the pattern left a little and right a little. This is done by have a small in the center of the pattern and putting a pin in the hole snuggly and tap left a little and right a little. That will give a little wiggle room draw it out with ripping the sand in the open end wrench. Enjoyed your information. JH
Thx ! Good reasoning😊
Awesome Video. Thanks.
Dave is a jewel!! Yankee you must have so much fun visiting all these people of that community of yours. I wish there was the same metals culture here in Europe. Thanks
Very interesting fellow and a great video!
Great content--I learned a thing or two
Comex paper contracts are of course traders making money trading paper with the right to ask for delivery. 90% of the people trading have no intention or reason to ever ask for delivery. There money is made purely trading paper. I have done it and you can too. I also have taken delivery of a contract vs renewing. These contracts now have so much legal garbage in them they can cancel them even.
Spot is never going away. There will always be a price someone is willing to pay or sell for.
Guys got lots of energy. I love it.
I LOVED THOSE LITTLE SILVER HAMMERS 😻
I have been hearing this for many years but let's wait and see...
This is f*king amazing. ❤ Love this stuff. Genius
Crazy these paper silver holders are in such denial.
@@shadowbanned4days Maybe they'll get over themselves when their paper wealth goes "POOF!" and disappears. Same with the cryptos.
Interesting technology and all that but if anyone still thinks that the US Gov or the Fed will tolerate ANY competition in digital money when
they have never tolerated competition in paper currency or coin money, they need to rethink that.
correction in the spot price today down a buck twenty
It had to, otherwise the wall street fellas will be scraped off the sidewalks
After being up 40% since last year this is not abnormal
Very cool operation they have there! The spot price might disappear for a while but a market price will always emerge if the internet is still working. The spot price itself represents a huge business opportunity so someone will always try to invest in that opportunity.
Price discovery will come from the East. Cheers
That was fun. Thanks
This is very interesting. I've heard this form several other people by now...
Just bought my first silver 2023 American eagle plus a maple leaf and a brittania. This year just 3 instead of 4 because I'm a small stacker but wow, in 1 year the price gone up by 10 dollars a piece. I hope I will have more before spot reach 80 dollars an ounce :)
Great video 🙌
It's an interesting perspective. But I tend to think there will still have some kind of USD reference point.
Dave's energy is off the charts!
Cool video! I'm a woodworker who is always looking for a new hammer.
Thanks buddy god bless ❤️
How can you Not Love 💕 Silver Dave and Yankee together promoting sound money and entrepreneurialism. Rock on boys! I gotta get me a Silver hammer!
That was a FUN episode!
Certainly know almost nothing about casting metals but it would seem that wax molds in plaster and melted out and shooting the silver into the mold would be a easier solution 🤔
Super cool. Fun editions to stacking
Yankee's absconding with the Bucket!🤣 Seriously, this might be my favorite Yankee video Ever!👍
very enjoyable crew to watch
Very true, Dave could have told us what the true value of silver is. I believe its If you multiply 391 slv times the present price. I think its somewhere in the area of $11,000.00 per oz!
In today’s dollar it’s not going to 11K. Dollar crisis b4 silver paper market burst
Very good, thnks
The best explanation of how the price is controlled!
I think he’s got a very valid point it very well could happen and the same with Gold too thanks guys all of you !!