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It is starting to look like the rise in value is accellerating.
"Hyperbolic" one might say.
As I noted elsewhere, a friend of mine just returned from an extended trip to China. Gold is selling in a frenzy, as silver cannot be had. Banks are selling silver for future delivery months out. Everyone is buying it, and there is none to be had. She also reported that wealth is widespread, and Chinese are starting to stray away from stocks and real estate and seek out precious metals. Especially silver. How many people are there in China again? And what is the literal translation of the Chinese word for "bank?" [Ans: Silver House]
I have a receipt here... 10x10 oz Engelhard bars from Provident Metals... (100oz)... $1,425.80
LOL and that's when I started buying.
I dug out some receipts the other day. 500 one ounce rounds at 5.03/ea with shipping. First two bags of 90% at 3599 with shipping.
Crap. I didn't get in until $26.
Hey...if you ever need someone to watch over your silver for you while you're away on vacation... :)
Yeah, I was doing the same thing last night when I decided it was time to count what I had.
My first bullion purchase was 5 x 10 oz bars of silver at $ 19.60 (Canadian $ which were at par more or less in early 2008) per oz (shipping included) and 5 x 1 oz wafers of gold @ $ 956.00 (Can. $ shipping inc.).
And I have been buying periodically ever since and hope that years from now what I bought yesterday has done as well as my first purchase.
But the best deal of all was my Dad giving me his silver coin collection which at last count is about $ 1500.00 melt value ( with a handful of those coins worth more than melt to the right collector) since those coins cost only the face value from when he was a younger man. Thanks Dad!
It's been a good 2 weeks for me - today I just doubled-up on silver. I bought 16 POUNDS (american lbs) at $22/oz.
Last week I doubled-up on gold. I bought at $720, it went flying thru $1440.
and y'all are still buying like me, no?
And pray tell how did you steal it at those prices?.
Find a elderly blind person?,working a Estate sale.
Where are these half off sales?
And what is the word for money in Peru? Plata. (You all know what that means.)
And what is the word for give me your food in downtown LA soon? Plomo!
And what's a vault? A "Gold Box".
Wealth = Gold, Silver = Trade and Commerce
Is the more accurate breakdown.
Much more relevant is that silver WAS money in China.
It was on the Silver standard.
Japan, on the other hand, you dont see the mania for silver.
You sort of do for gold. Although, still, the Yen holds sway over the populace.
But Japan WAS on the gold standard.
And gold was money in Japan before the western standards.
So the history isnt exacltly clear as to why silver would be favored by much of Asia.
Gold seems the better bet if you're expecting a Chinese led price bubble.
That said, I like the "short squeeze the hell out of JPM" narrative.
Warp Speed when metal runs short and outright panic hits.
You would think so he :) 36 seems like ages ago but it's only 2 weeks! I'll see your 44$ silver and raise you a buck by tomorrow!
And MONEX is overpriced, www.TULVING.com sells silver American Eagles for $2.49 over spot and they pay for delivery too.
you could also see what's available at www.spotmex.com
somebody might actually have a sell order out there for the price you like
36 seems like ages ago but it's only 2 weeks!
How quickly we for get that is was at $18 in September..... just over six months ago. Parabolic blow off top any one?
Can you say bubble? Say it with me. Buh-bell!
It's really going to suck for you longs who aren't taking profits when it's back below $20 this summer....
"Only $5 .... to get out of ground ..... $5 .... out of ground ..... only $5 ..... to dig from ground ..... only $5 ........ only $5 ....... only $5 ........... must eat brains ....."
Tell you what, Balding_Snails, there is only around $3000, tops, in raw materials in any new pickup. By your "logic", I should run to my nearest dealership and demand that they sell me a brand new, fully-loaded pickup for $3000, right?
Or how about I go to the grocery store and demand that they sell me a loaf of bread for eighteen cents, since that is the price of the wheat and other ingredients that it contains?
Or what say we march over to Saudi Arabia and insist that they sell us a barrel of oil for $20 ---- since that is what it currently costs them to "pull it from the ground"?
What I am trying to say is, your reasoning is full of shit.
I don't see you calling Apple a bubble even though it has prolly gone up even more.
Dip-shit! Did I get it right? Perhaps I should go work on my delivery some more?
Not bubble...escalator. It'll have its ups and downs while continuing to climb higher. Oh, we might indeed have a larger correction at some point, but the days of $20 are gone forever. When QE3 is announced soon - by whatever warm fuzzy name they use to try to hide it - it'll serve as another pillar to prop the "bottom" for silver up another tick or two. We might see a fall in price for a while if certain events (unforeseen perhaps, like the ME/NA riots?) spring up, but silver is making a permanent comeback. The price floor is now well above $20 and rising.
So the next question is...do I buy some more this week in preparation for the soon-to-be-passed $50 spot and make a little more profit?
Please please please let silver go back to $20 per ounce. I don't see it, but we can hope. And yes, my thousands of ounces would be worth less fiat. But I'd be getting rid of whatever fiat I have left for that $20 silver...
And stop calling yourself Math Man. It pisses off those of us around here who can actually do some math.
Yay, the shills have arrived. Rally on!
And I'm getting tired of seeing a fucking Porter Stansberry commercial everywhere I look these days. Would someone throw this guy in jail already?
geez those end of america commercials are total spam. the end of america is coming, but the guy is an asshole, and a shyster who sells fifth rate stock tips to any paranoid idiot who will listen. i subscribed to a couple of his letters a few years ago. nothing special.
You're entitled to your opinion but his s&a resource report has made me a lot of money. Don't generalize.
Generalize? You should do some more googling on this guy, he's been leaving a trail of scams and financial wreckage for a decade. The "Aids vaccine" incident was one of my favorites. How this guy is still in the business after all that is a mystery.
annoying, annoying videos...
Hah! Thanks to other respondents answering on this. I was half curious about what that scheme was. Now no need to investigate, it's as I thought.
Perhaps you could set annoying ad-copy to music in your head. Sorta works fro me.
I want my MTV. Look at them yo-yos!
Impossible... RoboTroll and MethMan called a top months ago.
You should be your ZH birthday is today. Happy 1st!
creed happy turd happy
now post more
Turd when are we going to get those margin hikes so the cartel can knock this price down for 3-4 minutes?
Pining for the fjords?!?! We're Fjucked!
http://www.gatewestcoin.com/markets.html shows gold at $1499 and change right now...
This has been an epic 2 weeks. Something is in store, watch.
i think you will be safe to assume 1500$ will take a long long time to be breached...
If by "safe", you mean "on crack" then right you are, Sir!
Put the pipe down, sir!
Put the pipe down, sir!
Yes, weeks if not months...
today after hours it will be
$50 next week.
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