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Silver Passes $28
Some time ago, we wrote that the best outcome for the US population would be to eliminate the Fed...but the best outcome for holders of gold and silver would be to preserve the current ruinous Fed policies in perpetuity. Tonight, all silver longs wish to extend Ben Bernanke their sincerest thanks, as the silver metal passes yet another historical milestone. In the meantime, Asian traders are squeezing the last few remaining margin pennies out of Blythe Masters, whose remaining monthly tenure at JPM can be counted on one hand.
And a long-term chart. See if you can spot when Bernanke's Wood Hole (sic) speech was.
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In other words, we don't know how to value these things, we just bid 'em up as much as we could, pump it up, and finally unload it to the average joes. Ponzi and Tulips as they say. Ain't that right?
http://abetterwaytotradestocks.blogspot.com/2010/10/trade-gold-for-what-...
In more other words, you are going to be poor, and you deserve it. Enjoy!
PMs = Tulips? You're a bit confused.
Gold (and silver) show all the attributes of money - durability, fungibility, divisibility, scarcity, portability.
Tulips?
Not so much.
value = (forward projected value / forward projected value of US Dollar)
Oh, and it'll pay dividends, alright. You can be sure of that.
What do you call something that rallies parabolically for a few years, with nobody knowing how exactly to value these things, and then a mega plunge back to where it came and it stays down for decades?
Pump n' dump? Ponzi? Tulipmania?
Learn 2 math. NOTHING rallies parabolically for years and years. Gold and silver certainly haven't. Their charts show a swiss stair, indicating steady accumulation by strong hands.
Do you even know what money is? Sure, I mean, why would anyone ever want money? Better to own stocks, right?
Enjoy grinding poverty.
Holy Sh!t! Guys, I just heard there is going to be a massive silver selloff tomorrow and the next day, and that the US economy has just found five million new jobs and is totally on stable ground as of today. Sell your silver before it's too late. Get out while you can! The dollar is back!! Buy up greenbacks.
Been reading The Onion again, huh?
Actually, A strong recovery would be bullish for silver. Either way, it's going into the stratosphere.
Gold and silver are the money of the master of this world, and seems the latter starts to allow things be pulled apart to trigger next stage of the new world order.
Newton, sheepitchez
Why everybody is so excited? Silver just broke $28 not $82.
Because we got it <10$ You silly Wabbit!
Watching this is like watching WOPR play Tic-Tac-Toe against itself.
Ben, how about a nice game of Chess?
That is EXACTLY what I've been thinking lately.
Tyler you're wrong, and you really don't know very much about silver, but I forgive you. Silver is worth 1000 dollars an ounce right now, in today's dollars, RIGHT NOW! In fact it was before QE2 was announced. You don't have Ben to thank for this, thank Jamie Dimon.
Silver is suppressed. Think not? Do you know how much earth you need to move to get an ounce of silver?
Do you know how much silver goes into every cellphone, flatscreen, computer?
Do you know why Rhodium went from 300 to 10,000?
Do you know how much all the above ground silver is worth in dollars?
Silver is a fiftybagger, FROM HERE!
Educate yourself:
http://www.investmentrarities.com/tbarchives.shtml
http://www.roadtoroota.com/public/department39.cfm
http://www.silver-investor.com/archives/index.html
http://silverstockreport.com/#all
FWIW: you don't sell your silver for dollars, you sell it for whatever replaces them....
@Fiftybagger
I happen to agree that silver is, fundamentally, in very, very short supply vs. almost certain demand from this point going forward. The price suppression that covered a massive liquidation of above-ground stocks over the last several decades is, apparently, coming to an end, and is doing so both coincidentally (timing-wise) and as a direct result of the failure of the dollar as a fiat currency (i.e. people are trying to preserve value by putting their currency into money).
However, I looked at your links, and the reality is that there are so many articles to read (and many close to 10 years old), that it isn't practical to read them all. But I am interested in the facts you stated, so...
Do you know how much earth you need to move to get an ounce of silver? Please provide one or 2 articles.
How much silver goes into every cellphone, flatscreen, computer? Please provide one or 2 articles.
Why did Rhodium got from 300 to 10,000? I have an idea, but again, please provide one or 2 articles.
How much is all the above ground silver worth in dollars? 1 or 2 well-reasoned opinions would be nice.
I ask for this not to be critical or because I fundamentally disagree with you (I don't, actually - I think that Ag's fundamentals are fantastic), but to but able to forward those articles to others that I care about who won't even try to read a couple dozen articles, especially old ones.
Thanks.
Go to the CFTC website and have a rummage around - you'll find their best estimate for current usage and known reserves. Long story short - we have no more than 15yrs of supply then the element is gone. How long before we have an above ground shortage? How long before price signals that mothballed mined should be reopened and how long before they come back on stream? Get my drift?
A milestone and a grim reminder of dollar devaluation:
Pre-64, 90% (junk) Silver, US coins just hit 20 to 1 face value. In other words, a 1964 50 cent piece (with zero numismatic value) is selling for $10. $2 Mercury dimes and $5 quarters.
Thanks FED, for devaluing the US Dollar at 4.3% per year for 46 years.
Grim reminders, indeed. I just finished sorting through a couple grand of half dollars this past weekend, and got a veritable mother-lode of silver (6 x 90% and 62 of the 40%ers). When I told my wife that one of the Franklins that I "harvested" was worth as much as a whole roll of the clad ones, the blood drained out of her face.
I'm old enough (49) to remember gas in the low $0.30 range, and to have seen a gas war in Florida in 1973 (2 months before the embargo) that pushed the price to $0.279/gallon. My folks speak of gas in the early '60s at under $0.25. Now that same pre-'65 silver quarter will buy about 1.5 gallons - which is as much of a tribute to the efficiency of the hated oil companies as it is a condemnation of the currency-destroying Fed. Scary times when a dime is worth $2.00...and that's going to only get worse, until such time as some reasonable stability is restored and a new currency (hopefully backed by silver and/or gold) is put in place. Its great for all of us to be making a profit on this instability, but the truth is that it is killing the life's work of tens of millions and destroying dreams for many more of our friends, family and fellow citizens. Thanks, Bennie.
James Turk simply amazes me.
The average "smart" investor usually don't give short term radical calls because they are smart enough to avoid the risk of being criticized of being wrong.
The amount of knowledge, confidence and natural instincts that enables a man to make such calls in public and get it right is simply unimaginable by a "smart" investor like myself.
O.K., it hasn't reached 30 yet but I'm giving him credit.
I remember someone said silver would break $50 in a few months. Was it James Turk?
No, about 2 weeks back, on King World News( Blogs likely Archived still), Eric had him on a Blog.
He said in 18 Trading days he forsaw Sliver at $30.00oz.
He was so damned close it's spooky.
Skip over Richard Russell, he'll scare feces out of you.........
Wonder if we could negotiate a group rate to Peru, or Argentina(close to Caseys place), and get a hell of a deal.
Anyone game?....I been ready to roll for at least 2yrs.
Forget the fiscal FU, and the Fatwas, the Jihads, and all the other shit.
I just want to live out the rest of whats left of my life, in peace.
People cry Peace,Peace!!, and there is no Peace!.
Dos, please raise this issue again re heading to South America if/when the right time comes.
I like your idea of CLOSE to Casey's place, it might make me a bit nervous to actually be living in Caseyville...
JonNadler himself asked about land in Peru (see up the thread)!
Way to go Benny !!! SLV is the next AAPL NFLX BIDU AMZN all in one.
It would be instructive to know who the big buyers and sellers are at this price. Are they just speculators playing the latest game of craps?
the amount of actual silver is so small that everyone is a big buyer.
as for the really big players i would imagine it is hedge funds that can smell the blood in the water.
LMBA and Comex are really in a bind. If they can't cover with physical metals and investors ask instead for physical US dollars they wont be able to cover with that either. Physical dollars to digital dollars have been levered up so high, a thousand printing presses would need to run for years just to fill the void with $100 bills. Just a small amount of physical dollars for the people and infinate digital keystrokes for the EE which can be manipulated to infinity. Will Britain cover LMBA's back with the 400 billion in FREE Treasuries they accumulated this year? Will both metals exchanges also have to default on CASH payout as well?
Just sayin.
Hope everyone has a small stash of physical dollars to get them thru the collapse. If the banks close their doors and the internet goes black you will need something other than plastic to pay your local taxes.
Blythe Masters
John Law called. He wants his bio back.
I know I need to get out of my "paper" gold and silver. It's been a nice run and I'm starting to get nervous. What's the best way to get ahold of the physical? Local dealer? Online? Shiff? I'm a little nervous about UPS deliveries, someone following me out of the coin shop, etc...I'd like to say thanks to many of you who've reasonably and rationally stood by your thoughts and beliefs through this madness. I'd like to go on the record as saying I'm NOT AT ALL happy about my gains in the PM's...it rips my heart out to see what is happening to our dollar, and our country, every day. I wish there were some certainty that we are going to come out on the other side of this ok...for the sake of my wife, my daughter and all those I love. Best of luck and blessings to all of you and your families
Cowboy up my friend. If you are worried about being followed strap on the old dog leg(old cowboy saying for your favorite pistol) and keep your head on a swivel. It's going to get real crazy soon.
www.apmex.com
+1 Professional and efficient
Cars,
I get it.
Same here, making some good gains on the phys.
IF I were you, I would sell the ETF's, and get into physical now.
As bad as it sounds, its a fact.What are you getting when you cash out?.Paper.
The dollar has lost 37% of it's value in the last 2yrs.At least with something tangible, and has been MONEY for 5000yrs, in your Physical possession........you will not wind up with NOTHING.
Are you happy with your Banks returns on your FRN's?.
Hell no.
Certainty???, hell bud, we are not even guaranteed our next HEARTBEAT.Got to take it as it comes,and make the best, most educated decisions you can.
If you screw up, you screw up.but you at least did something.
I know I need to get out of my "paper" gold and silver. It's been a nice run and I'm starting to get nervous. What's the best way to get ahold of the physical? Local dealer? Online? Shiff? I'm a little nervous about UPS deliveries, someone following me out of the coin shop, etc...I'd like to say thanks to many of you who've reasonably and rationally stood by your thoughts and beliefs through this madness. I'd like to go on the record as saying I'm NOT AT ALL happy about my gains in the PM's...it rips my heart out to see what is happening to our dollar, and our country, every day. I wish there were some certainty that we are going to come out on the other side of this ok...for the sake of my wife, my daughter and all those I love. Best of luck and blessings to all of you and your families
Tulving.com for > 500oz silver, despite the poor website design.
When UPS delivers it, tell them it is specialty machined parts if they ask why it is so heavy.
Not enough sheep even understand what silver is for you to be so worried about people following you home.
I prefer to say, "awesome! I can't get enough of the barnes bullets. The leave an incredibly large exit wound! Oh, I'm sorry. I get caught up on my re-loading stuff. Carry on."
www.APMEX.com (Midwest, South)
www.learcapital.com ( West Coast area)
Both reputable, and deliever. Want it fast, WIRE TRANSFER.
Costs a bit, but, it can save you a MISS on a deal...............Lear is Slow as hell, 30-60 days.
APMEX usually a lot faster, but, I do not like their quanity breaks.
Also, IMHO, in this enviro, buying Eagles,Mapes, etc, in Slvr is a waste of money... New Rounds/Bars, more bang for your dollars.And quanity in Slvr is esp true.
it may be difficult.
develop a relationship with a local coin/metals dealer you can trust. my local guy runs a very small shop. lots of times i'm the only one in there. never felt unsafe. he packages the metal in a brown paper bag so anyone around could guess what i have but not likely to be any trouble.
we live in a small town so your milegae may vary. good luck.
Jim Willie, Doug Noland, Bob Chapman, SInclair - all generally correct for years. There are others.
Yes genteel Ben we appreciate all you are doing for us. My dusty old junk silver bags love all of the attention you have been giving them since the day you were installed in office. . Again, thanks Ben. May you continue to do God's work. We always had faith in you from day one when we read that your nickname was Helicopeter Ben.....So again, thanks pal.
I wish I knew how much of this is a correction from JP Morgan's greasy fingers verses the toilet paper factor.
I am waiting for the Gold manipulation suits to hit............
That will just add more fuel to the fire silver started.
Hows this move compare with 1970's SLV adjusted for inflation?
anyone know?
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