patrick.net

HeadSet says

If the US Dollar fails, that silver bitcoin will be the same as bullets, canned food, or cigarettes - something to barter with whoever will accept it.

In cannibal anarchy, liquor, cigarettes and bullets will be MUCH more valuable than bitcoins, gold, or silver.

Onvacation says

When MAGA fails we’re headed for communism (Rebranded as democratic socialism) or cannibal anarchy.

Fixed it for you.

stereotomy says

They changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

I was hoping that you assumed that I already knew that...My point was, if you are an industrial user and you need tons of silver on a regular basis, where do you get it? Wasn't the commodities market the place to go? You could buy futures contacts and take delivery. Now if all they will give you when the contract expires is paper, then what is the point? I think we both know the answer to that...It's just a rigged gambling game involving paper. It has nothing to do with real precious metals.
The problem is that the coin dealers want buy at that low fake price...As long as sellers refuse to sell at that rip off price, no harm done.

komputodo says

stereotomy says

They changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

I was hoping that you assumed that I already knew that...My point was, if you are an industrial user and you need tons of silver on a regular basis, where do you get it? Wasn't the commodities market the place to go? You could buy futures contacts and take delivery. Now if all they will give you when the contract expires is paper, then what is the point? I think we both know the answer to that...It's just a rigged gambling game involving paper. It has nothing to do with real precious metals.
The problem is that the coin dealers want buy at that low fake price...As long as sellers refuse to sell at that rip off price, no harm done.

I agree - the whole futures market has become completely corrupted by TBTF bankster speculators, defeating the purpose for these markets to exist in the first place. Futures markets were set up to protect commodity producers and industrial users from wild swings in prices and were regulated to only permit certain business entities from engaging in trading operations. Once non-industrial banks and hedge funds were let in, everything went to shit.