Many people make mistakes over silver. Nelson Bunker Hunt and William Herbert Hunt. accumulated an estimated 195 million ounces of silver—roughly one-third of the world's entire private supply—driving prices from approximately $6 per ounce in early 1979 to a record peak of $48.70 in January 1980.

The scheme collapsed on March 27, 1980, a day known as "Silver Thursday," when a combination of regulatory intervention (specifically COMEX's "Silver Rule 7") and rising interest rates caused silver prices to plummet by over 50% in a single day.

No one is that smart.

1 hour ago, save the frogs said:

I don't know if this is true of not, but now one guy is claiming the govt is building a database of precious metal owners. But if you own in Thailand, not sure how that will affect things back home.

But there is so much false information floating around, so not sure if this is valid.

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Starting February 15th, new reporting requirements take effect that lower the cash transaction threshold for precious metals from $10,000 to $3,000. At current silver prices, that means purchasing as few as 35-40 ounces of silver triggers a Currency Transaction Report filed with the federal government. Your name. Your Social Security number. Your address. What you bought. When you bought it. All transmitted to FinCEN and stored indefinitely in federal databases accessible to the IRS, FBI, and other agencies. The era of private silver ownership is ending. February 15th is the deadline.

I'm, not an American, so doesn't affect me, and what you describe is some anti-money laundering prevention.
Of course you can buy 20 times 40 ounces, and stay under the radar.
Same applies in Thailand now if you deposit more than 2 million cash in your account, then you have to sign a document, but if you want to deposit 3 million, you do 2 deposits of 1.5 million, and no document needed

On 2/3/2026 at 8:21 PM, Nurf said:

Has nothing to do with a new Fed Chair

Fiat currencies are bumping up against a number of panics. The world is awash in worthless paper. There are a number of flashpoints around the globe.

Even at 2k USD price is suspect. Now, it's greater fool territory and has bubble like everything else. On top of the panic you have very wealthy people awash in money and nowhere to put it as all asset classes are through the roof.

The only thing stupider than gold at 5000 is Bitcoin at 90,000

Simples

This is how stupid the forum common wisdom is.

I commented Bitcoin at 90k idiocy.

Two downvotes

Today, it sits at 75k lol

You people are geniuses

Trump has sabotaged confidence in the US dollar and the US economy to such a dramatic degree, that people are looking for alternatives. It's likely that the dollar will never be trusted again to the extent that it was before.

It's likely gold and silver will continue to rise but at a more steady level and without quite as much panic as before.