Breaking my rule if Oil drops to $15p/b

[Nowler]

Stop hit @3149

That's a profit though, right?
You entered long @ 2883.00?

 

[new_trader]

That's a profit though, right?
You entered long @ 2883.00?

Yes, over 9.2% in a short amount of time! I was going to hold it, but I am totally commited to another long term trade and want to preserve my margin.

 

[Nowler]

Yes, over 9.2% in a short amount of time! I was going to hold it, but I am totally commited to another long term trade and want to preserve my margin.

I hear Ireland are going to remain on lockdown for another 2 weeks, and then ease the economy open again, bit by bit.

UK are going to announce their exit plan Thursday i believe.

On it current trajectory, I can see global oil demand increasing somewhat by early to mid June. Not enough to sort the glut, but it's a start.

Should all go well, I can see significant economic improvement by August. We'll still be in a recession of course, but even that is better than a standstill.

In the land of the blind, the one eyed man is king

 

[cantagril]

In the land of the blind, the one eyed man is king

Try reading HG Wells' salutary tale

 

[MasterOfCoin]

Try reading HG Wells' salutary tale

..... or indeed John Wyndham's.

📖

 

[Nowler]

Try reading HG Wells' salutary tale

..... or indeed John Wyndham's.

📖

Why can't I find it?

 

[MasterOfCoin]

Why can't I find it?

However not ?
.. spawned radio drama, 2 TV series + film.

 

[Nowler]

War of The Worlds?

 

[MasterOfCoin]

War of The Worlds?

No, no, no. That's H. G. W.

Clue - 1951.

 

[Nowler]

No, no, no. That's H. G. W.

Clue - 1951.

Ahhhh
You are talking about The Day of the Triffids!

And Cantagril is talking about War of The World's?

 

[Nowler]

You know you guys could have just named the goddamn books!?

Lol

 

[MasterOfCoin]

Ahhhh
You are talking about The Day of the Triffids!

-------

You know you guys could have just named the goddamn books!?

Lol

🥳

Yeah.

But that's no fun.

 

[Nowler]

🥳

Yeah.

But that's no fun.

Lockdown hitting you hard?

 

[Nowler]

Just thinking...
Surely investing in Silver would be -in away - better than Oil?
Or at least similar.

Gold would be better than Silver, but for me, Gold is a no-go

 

[MasterOfCoin]

Well,

Just thinking...
Surely investing in Silver would be -in away - better than Oil?
Or at least similar.

Gold would be better than Silver, but for me, Gold is a no-go

Well, yes, precious metals are certainly a better store of value and less volatile in price than oil.

But Gold is subject to mandatory reporting requirements and (like similar valuable commodities) at high risk of confiscation in times of fiscal stress like war, global economic meltdowns, etc.

Better to stick with things that are less likely to be legally stolen from you, by virtue of those things being more trouble to reassign handle or repatriate than they are worth to steal, lol.

 

[Nowler]

Well,

Well, yes, precious metals are certainly a better store of value and less volatile in price than oil.

But Gold is subject to mandatory reporting requirements and (like similar valuable commodities) at high risk of confiscation in times of fiscal stress like war, global economic meltdowns, etc.

Better to stick with things that are less likely to be legally stolen from you, by virtue of those things being more trouble to reassign handle or repatriate than they are worth to steal, lol.

But Silver is surely much less likely to be "confiscated" if the shit hits the fan?
It is much less valuable than gold.


It makes me laugh when I think of how fragile the whole game is.
Money created out of thin air... the system only working because we all agree that this essentially otherwise worthless piece of paper is worth something.

I mean... we have paper money...
But it could easily (well, maybe not easily) be sea shells as our currency!
At one point in time, sea shells we currency for some!

 

[cantagril]

Ahhhh
You are talking about The Day of the Triffids!

And Cantagril is talking about War of The World's?

No, he isn't.

He should have specified that it's "The country of the blind" .......with strictly fixed vegetation.

For those interested in irrelevant factoids, Wyndham's oeuvre resulted in an alley in Hampstead (just next to Le Pain Quotidien in Pond Street) being renamed "Triffid Alley"...

 

[new_trader]

Money created out of thin air... the system only working because we all agree that this essentially otherwise worthless piece of paper is worth something.

You need to revise your monetary history. Also, people talk about gold confiscation without any references to when and where this happened.

 

[Dowser]

But Silver is surely much less likely to be "confiscated" if the shit hits the fan?

They used Silver when they ran out of Copper during the Manhattan Project! It's the best conductor of electricity don't ya know!

'Nichols met with Undersecretary of the Treasury Daniel Bell on August 3, 1942, to inquire about borrowing 6,000 tons of silver from Treasury vaults. In his memoirs, Nichols relates that Bell indignantly informed him that the Treasury’s unit of measure was the troy ounce '

 

[new_trader]

I'll tell you a true story, funny too! A few years ago I walked into a souvenir shop and saw some 1oz, 999 fine silver coins. I asked the shopkeeper if they were legal tender and she looked at me, almost incredulously, before answering "No, they are only souvenirs, why would anyone accept a silver coin as payment? I wouldn't!"...

I thought that was hilarious, I never bothered trying to explain...and this woman was selling the stuff!