Pre-covid, I religiously saved silver (and gold). Just bought some every single paycheck for like 6 years. I had coins, jewelry, bars, silverware, etc.
I wished my parents had left me a treasure, but they didn't, so I thought I'd do that for my kids, maybe even leave them a map... But I don't have kids, so after being locked in my house during covid, I kind of went a bit crazy.
I sold it all and moved states (after travelling quite a bit). My collection was quite massive, and I 100% knew that this day would come, but I didn't care, I just needed a new view. I live near the beach now, but... if I just held, I'd be in a much better place. I hate myself a bit for selling.
If you sold it and bought housing 4+ years ago when interest rates were near zero you've still got the last laugh.
People holding dollars instead of PMs or real estate are the real bag holders. Not only are they actively paying for those fed generated artificial interest rate negative real rate mortgages that property owners got (paid for via inflation on non property owners), they missed out on massive appreciation of property and PMs. They are literally paying the richest people to become even richer, and paying them for the privilege to get further and further away from ever owning their own home.
If you sold in 2023 or 2024 though, you basically got fucked both ways.
There's an asian AI guy on youtube providing a lot of information about what is going on with the silver right now. Sometimes it seems like he has some insider information, and the whole reasoning seems to come from an expert.
It's strange because it's just not one channel but multiple, and the person behind has kept uploading videos during the entire duration of these holidays. So far, he seems to be quite accurate with his predictions. It's been quite informative.
That video is an interesting switch-up from the past 'JP Morgan the silver suppressor' thing that everyone was going with. Now that silver is going up a new uniting belief is required for the silver stackers. Reminds me of the 'Game Stop stock will literally make everyone with a single share a millionaire' strat that had retail investors clamouring to get as much as much as they could and to hold it to the grave no matter how much it dropped. Just two more weeks bro. I think these sorts of videos prey on people without the sophistication to understand financial markets or assets. Everything the AI guy is saying could be 100% true but how would you know? Everything about Gamestop stock was a lie but it had the same sort of ring to it.
I guess eventually people develop enough discernment to say they don't know whats going on, until then slop like this is taken as Gospel.
OP did call him AI. If the underlying research is valid rather than AI generated it can still be valuable. Seems like this guy is using an AI persona essentially to communicate his ideas.
To me, AI Asian guy sounds like an AI generated person that is Asian. Asian AI guy sounds like you could be talking about Andrew Ng or some one else that teaches about ML, LLMs, etc.
How is it infinite? Oil forms from ancient organic matter under intense heat and pressure, a process taking millions of years, making it non-renewable on human timescales.
Sarcasm? 150-200M oz of silver are recycled annually[1]. Oil obviously is mostly burned and won't be recoverable, and clearly finite (even if we managed to squeeze out more with fracking etc.)
Annually, we consume more oil than we find additional reserves of. The difference is something like 12 times less than annual consumption, and the gap is widening.
If you’ve found a way to escape that arithmetic, I’m all ears.
The math is pretty simple: the world consumes 36 billion barrels of oil a year and there are like 2 trillion barrels of known reserves. We have enough reserves for 55 years of current consumption. There’s 0 incentive to find more.
Not sure which western countries you’re referring to but the US has pretty giant subsidies on oil.[0][1] Of course it’s also taxed but the pro source shows that most of the subsidies are tax reductions.
> However this doesn't reduce consumption, it just shifts the consumption to the developing world
This is true if production levels aren't responsive to prices, but I see no reason that would be the case. Petroleum production levels are known to be quite responsive to upward price movements.
I too wish we were weaving exotic matter metamaterials out of the aether, but until then hydrocarbons are a miracle from the heavens for their uses. A modern cedar tree.
The sun is but a poor, corrupted pun on starlight. The reflecting pool of crude shimmers with thin-film interference like nebulae on the celestial expanse.
You could argue that the sun was pretty useful, quite the “essential companion” in the Stone Age as well.
In fact, it is hard to imagine there would have been enough dead trees to make oil if it were not for the sun.
You could argue (pretty soundly) that oil is just a way of consuming the energy in trees which got that energy from the sun. So oil is just a way of extracting ancient solar energy.
Oil’s potential, left deep in the crust, remains latent. Every mote of sunlight, furiously brought to life by the maelstrom, seeks inexorably for immediate purpose.
They will when supplies eventually dwindle. We were saved from peak oil only by the invention/cheapening of fracking followed by the advent of horizontal drilling and unlocking of oil in shales. It's unlikely any such windfall will occur again, and even if it does that merely kicks the can down the road.
All petroleum was created from ancient forests before the evolution of microorganisms that could decompose fiber, so the plant material was simply buried and gradually became petroleum. Above ground, evolution produced organisms which could break down fiber. My point being, that not only is petroleum very useful, it is exceptionally rare on a geological timeline (at least on this planet ). It's like a cosmic trust fund, and like most trust fund recipents, we utterly squandered it. We took all this free energy, burned it to power ai slop, and poisoned ourselves in the process. We should have been using that oil to push humans out of the gravity well to Titan where petroleum is abundant. But no, we wanted big cars, cheap electricity and single use utensils.
Edit: I was mistaken, confusing coal and petroleum. While petroleum comes from microscopic ocean life, coal forms from the remains of terrestrial plants.
My point is that the chemical complexity (manufacturing uses) can be reproduced, and the energy storage density also can be. So really the gift of hydrocarbons under the ground is more that readily available energy is under our feet to help propel us towards higher levels sources of energy. IMO it’s a stepping stone and that’s effectively how humanity is using it.
I wouldn't even know where to sell (or buy) a barrel of oil. It's one of the most traded assets yet if someone handed me a barrel, I'd have no idea what to do with it.
Pre-covid, I religiously saved silver (and gold). Just bought some every single paycheck for like 6 years. I had coins, jewelry, bars, silverware, etc.
I wished my parents had left me a treasure, but they didn't, so I thought I'd do that for my kids, maybe even leave them a map... But I don't have kids, so after being locked in my house during covid, I kind of went a bit crazy.
I sold it all and moved states (after travelling quite a bit). My collection was quite massive, and I 100% knew that this day would come, but I didn't care, I just needed a new view. I live near the beach now, but... if I just held, I'd be in a much better place. I hate myself a bit for selling.
People holding dollars instead of PMs or real estate are the real bag holders. Not only are they actively paying for those fed generated artificial interest rate negative real rate mortgages that property owners got (paid for via inflation on non property owners), they missed out on massive appreciation of property and PMs. They are literally paying the richest people to become even richer, and paying them for the privilege to get further and further away from ever owning their own home.
If you sold in 2023 or 2024 though, you basically got fucked both ways.
It's strange because it's just not one channel but multiple, and the person behind has kept uploading videos during the entire duration of these holidays. So far, he seems to be quite accurate with his predictions. It's been quite informative.
If someone is curious, one of many: https://youtu.be/vBIUZGlNkks
I guess eventually people develop enough discernment to say they don't know whats going on, until then slop like this is taken as Gospel.
Oil on the other hand is infinite.
1: https://www.physicalgold.com/insights/how-much-silver-is-rec...
What interest is served by posting this obviously wrong rhetoric?
If you’ve found a way to escape that arithmetic, I’m all ears.
The higher the taxes the lower the price of crude has to be for people to afford it. This means reduced western demand at high prices.
However this doesn't reduce consumption, it just shifts the consumption to the developing world, where there are minimal if any taxes on consumption.
0: pro fossil fuels: https://energyanalytics.org/u-s-fossil-fuel-subsidies/
1: anti fossil fuels: https://e360.yale.edu/digest/republican-spending-bill-fossil...
This is true if production levels aren't responsive to prices, but I see no reason that would be the case. Petroleum production levels are known to be quite responsive to upward price movements.
In fact, it is hard to imagine there would have been enough dead trees to make oil if it were not for the sun.
You could argue (pretty soundly) that oil is just a way of consuming the energy in trees which got that energy from the sun. So oil is just a way of extracting ancient solar energy.
Edit: I was mistaken, confusing coal and petroleum. While petroleum comes from microscopic ocean life, coal forms from the remains of terrestrial plants.
edit: let me elaborate.
My point is that the chemical complexity (manufacturing uses) can be reproduced, and the energy storage density also can be. So really the gift of hydrocarbons under the ground is more that readily available energy is under our feet to help propel us towards higher levels sources of energy. IMO it’s a stepping stone and that’s effectively how humanity is using it.
Every voter who votes for lower gas prices is agreeing that it's better to live inside the cruel empire than to build a world without empire