So basically silver lost over 2 trillion dollars worth of value today. Gold lost 5 trillion. Silver went from trading at over 130 dollars a share in china this mornings to at the lowest today 75 dollars a share. This is because trump nominated Kevin Warsh as the new fed chairman.
And this makes absolutely no sense because although warsh has a history of being super hawkish when it comes to interest rates. Trump was complaining that Jerome wouldn’t. And literally is threatening to put him in jail, Warshes father in law is one of Donald’s handlers. The guy owns estee lauder or some stupid shit. Trump is usas god emperor and would only put someone in who will lower interest rates to pump the stocks.
So expect this warsh guy to cut rates until they are like at .5% and then we get bigly inflation.
Anyways my prediction is silver goes over 200 dollars easily as this new puppet of trump ruins the economy with rate cuts. Which will have everyone running away from the dollar bigly.
The reason this is a big deal is cause historically the fed is apolitical. But trump has the son in law of one of his biggest donors controlling the interest rates now. So expect massive bigly pumps in the market as the dollar crumbles into being worthless.
So buy the dip?
it's still near its historic inflation-adjusted high price, and while all of this has been going on the u.s. dollar index changed like 3%. i personally don't take financial advice from silverbugs in c/badposting, but ymmv gambling with argie dollars.
I don't do stonks nor any other gambling, I'm thibking about central banks trying to dedollarize, isn't this double good for them? Trump molesting the dollar and a sudden low price of historicvaluestoragium?
i know you don't gamble, i was joking. my point is that silver price is still quite high in all currencies. there's still a long way to drop, so this may or may not prove to be much of a dip. it's a sudden low relative to an extreme high.