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RE: JPM's Quorum: A Hilariously Misguided Implementation of Blockchain
I missed this one. I wonder what this will mean for the price of silver. It's already on the low side, especially compared to the mining cost. I could see how the availability of these contracts could drive the price down, but is there profit for the producers to keep extracting it if the price drops much lower?
I suspect JPM and the Fed, are happy with bullion prices roughly where they are. Seems to me, they are not trying to decimate the price, just restrain it, and thereby incentivize bullion stackers to sell and buy stocks.
They cannot transfer your wealth into their system, when you hold bullion. They can if you hold fiat, or stocks.
So I suspect silver is at its bottom.
Plus add to all this, that Republic Mint (RMC), the american mint just declared bankruptcy, and you will see a tightening on the supply market, which typically should mean higher prices if demand stays the same.
So I suspect we have a bottom in, and over the next years we will see silver do quite well.