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Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, "Buy Gold"
It appears it is time for some Hillary-Clinton-esque backtracking and Liesman-esque translation of just what the former Federal Reserve Chief really meant. As The Wall Street Journal reports, the Fed chief from 1987 to 2006 says the Fed's bond-buying program fell short of its goals, and had a lot more to add.
Mr. Greenspan’s comments to the Council on Foreign Relations came as Fed officials were meeting in Washington, D.C., and expected to announce within hours an end to the bond purchases.
He said the bond-buying program was ultimately a mixed bag. He said that the purchases of Treasury and mortgage-backed securities did help lift asset prices and lower borrowing costs. But it didn’t do much for the real economy.
“Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked,” said Mr. Greenspan. Boosting asset prices, however, has been “a terrific success.”
...
He observed that history shows central banks can only prick bubbles at great economic cost. “It’s only by bringing the economy down can you burst the bubble,” and that was a step he wasn't willing to take while helming the Fed, he said.
...
The question of when officials should begin raising interest rates is “one of those questions I cannot answer,” Mr. Greenspan said.
He also said, “I don’t think it’s possible” for the Fed to end its easy-money policies in a trouble-free manner....
"Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different, Mr. Greenspan said.
...
“I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves,” Mr. Greenspan he said.
And finally - while CNBC's audience is told what a terrible thing gold is, "The Maestro", having personally created the financial cataclysm the world finds itself in following a lifetime of belief in fiat, Keynesian ideology and "fixing" one bubble with an even greater and more destructive asset bubble, has suddenly had an epiphany and now has a very different message from the one he preached during his decades as the head of the Fed.
Mr. Greenspan said gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.
What Greenspan failed to add is that it is thanks to his disastrous policies (subsequently adopted by Bernanke and Yellen) that gold is the "place to put money."
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Fuck you Alan!
The Tribe must be ready to send gold down some more...
I would like to see a long line of these fuckers (greedspank, bernank, yellen timmah, et al) queing up for the axeman, and if the position was going, i'd do it for free.
Sell tickets; we'll pay to take turns.
What did he say? His tongue was flickering so fast......
Why now? That's the only question that matters.
After screwing the US and the world, Greenspan thinks that he can switch sides and join the pro-gold crowd now.
It doesn't work that way.
Translation: Fuck Obozo and the Dumbocraps cause Alan hates those fucking assholes!
What, isn't Greenspan dead yet?
STFU you old prune!
Oh shit, now that Quasimodo has said to buy gold, should we be contrarian and sell? I don't think so...
Fuck you Nation!
Actually Gruenie Was A Sort Of A GOLD Bull Way Back When...
He Knows "THE GAME" Better Than Most Out There.
Regardless Of What He Says Anyway... GOLD Will Be Moving Big...
The fed has painted itself into a corner...
It can neither raise interest rates nor stop QE because the dems' will throw a fit at a bad economy making them look bad and... oh yea... a bad economy fully exposed for all to see...
The End...
Hopefully after Novemeber there will be a lot less COCKSUCKING PIECES OF SH*T around to throw fits because the economy makes them look bad.
Do your duty with seething pride vote them all out!
Thank you captain obvious!
Been waitin for the bathroom all afternoon,i gotta take a Greenspan
And then gold drops $20...Anyone else ever feel like the meme of
"buy gold 'cause it's the only thing that will be worth anything...eventually" is getting pretty fucking worn out?
I believe this time he is speaking the truth. Gold is low right now, hovering slightly above the cost of production. Sovereign debt is huge, and that may soon make people seek non-gov't related returns, i.e. gold and equity. Did I mention we are due for a recession, probably near the beginning of 2016?
At the same time, there is also the chance of deflation, which will work to offset the rise in gold prices. Deflation will be caused by the government seeking funds to repay the fiat debt. They will flip every stone, pulling money out of the system. The FED doesn't even have to raise rates for this to happen.
So, it's a contrarian view squared. Hyper inflation only happens once the government has exhausted it ability to borrow from foreign entitites (we are getting close) and to pull money out of its own citizens.
Hope it's not too late tomorrow to load up on gold...,
I can't wait till the market opens.
..........(grains of salt)
Why, oh why didn't Greenspan grow a brain before he retired?
Im sure he knew this shit all along.
just wait, he is trying to get street cred and hirehimself out as a spokes person.
As for me, fuck him fuck the fed fuck the feds and fuck the fucks who fuck me.
... to put it politely
(Im buying both 1 oz gold bars, and 168 grain lead "bars" because i like to diversify)
bgasc.com is always has the best gold price, and ammoseek always finds the best lead price.
This short could be updated but still funny today
http://www.youtube.com/watch?v=RYA0DsPcbaU
Triple plus good Dogbreath!! That's all that needs to said!
guys better listen buy gold sell guns and ammo crash your mamma! Alan told you so! if you hold it or something
"I believe this time he is speaking the truth. "
Perhaps...Or, maybe he's been "right" all along, as indicated in Road To Roota !?
http://www.roadtoroota.com/public/101.cfm
A two-headed snake, a lier, or...?
Can he be likely (unlikely) saving of America in the collapse?
“Don't be satisfied with stories, how things have gone with others. Unfold your own myth.” - Rumi
http://www.roadtoroota.com/public/190.cfm
"The Road to Roota Theory postulates that there is a group of people in the United States as well as around the world that are working to remove and destroy the financial banking powers that have secretly controlled all aspects of our lives for hundreds of years. The original idea of this group sprang from the mind of Alan Greenspan and involved rigging markets with computer programs that he had invented in the 1960's."
The Road to Roota
Yeah.....not happening.
If you really think someone is looking out for you....then you live in fairyland.
Mr. Magoo is right about one thing.....you'd better get some damn gold.
Are they talking about greenspan on CNBC where they were laughing at Schiff yesterday?
No doubt someone would be fired if they even mentioned it.
a martyr in the making? hummmmm...
Satoshi says buy Bitcoin!!!
Oh, wrong thread ;-)
Fonestar FTW!!!!1!1one
Why is that wrinkled up old prune still in control of our money and babbling nonsense? He doesn't even believe his own fables. He should be under house arrest in a nursing home for crazy central bankers.
"Why is that wrinkled up old prune still in control of our money"
Interesting comment from someone waving an Illuminati avatar...hmmmm...
Nothing is ever "painful" for these reptiles.....they thrive on other's pain from a hidden dimension....
Nobody will ever believe it...and yet without this explanation...
...nothing makes "sense"...times up, pencils down....
My avatar has nothing to do with the accursed trashbag Illuminati. The fleur de lis is an ancient and beautiful symbol. Why do you refer to these anti-social, psychopathic, destructive, degenerate, beggars on horseback as "Illuminati" as though they are bright? They are insufferably stupid. They have managed to pass themselves off as uppity only because they are deceitful, dishonerable, fraudster street rats who have unfortunately floated like sludge to the top of power. "Illusionati" would be more like it.
By the way is that your mugshot on your avatar? And what's the deal with Majestic? Does it have something to do with the government weirdos who hatched another weirdo project by the same name? Are you with the wierdo government?
Fleur de lis roughly translates to green wilderness, redfish, venison, hot creole food and hotter women, and gettin paid to hurt your bitch adversaries at game time. Fuck yeah.
http://youtu.be/tDT-p1RRll0
I thoguht you said under a house, which would be ok with me...
Don't get any Obama on your hands.
HAHA how quant thinking voting still matters or that those machines aren't hacked to provide a 2% boost to the chosen candidates just enough to get them over the hump. You're seeing examples of that already in numerous states. Until those machines are destroyed and replaced with vetted and random individuals chosen from the public like jury duty who will count the votes then elections are and will remain a scam imo. Not to mention the amount of illegals and others voting numerous times as dead people who don't have to show ID because that would just be plain unfair and racist. I've got better things to do next Tuesday. Like wash my hair.
The thing I see nobody every talks about is Phys is really about $1600 / ounce right now. The number of certificates of Gold to Phys is TOTALLY FRAUDULENT AT ABOUT 100:1. And they do this to create a depressed paper value that has nothing to do with Physical price <that is why it's so depresed because they are naked shorting it and they suck a bag of dicks!>
If you do not think so goto your local bank and ask for a gold certificate and how much. As soon as they quote you ask how much for physical delivery...
The youtube of 'suck a bag....' is really funny. That's how the banker laughs when you ask him for phyz.
src="http://www.youtube.com/watch?v=OT7xc_XqYO8">
There you go.. Suck a bag of dicks..
I though the statement below, by Greenspan, was more telling than anything:
He was talking about “Financial’ bubble versus ‘Real’ economy:
(Volker) Put a clamp on the economy, only by bringing the economy down…
https://www.youtube.com/watch?v=XqHNF6NOpoE&list=UUL_A4jkwvKuMyToAPy3FQKQ“#t=39m59s”
Banks are not usually in the business of delivering gold with all the associated transaction cost.
Billionaires are not usually in the business of passing up an easy short squeeze.
Fuck Gold! Got more stupid Bullion (that's going nowhere) than a healthy portfolio needs.
What I DO need and should INVEST in, is a good 3D PRINTER, bitchez.
As I posted earlier today*... the HP 3D PRINTER is the one to get, to print GUNS, and.. STUFF. Doing that would be like printing Money. Buying gold is a waste of time in comparison. ROI on Gold = 0. ROI on Guns and Stuff = HUGE. Of course, one could always buy Gold with the profits of printing Stuff. Duh!
* Wed, 10/29/2014 - 20:28 | 5391882 Kirk2NCC1701
3D printers are amazing. What maerials would you use as a composite? I know I can google them, but I want to know what you would use. would love to print some widgets!
Apparently you can use METAL, CERAMICS and "OTHER MATERIALS", where "Other" = Polymers (Plastics, Elastomers), etc.
Click on my post, (Wed, 10/29/2014 - 20:28 | 5391882 Kirk2NCC1701) to see the link to HP, which include an HP video presentation. What's cool, is that you print a part that is hard & rigid on one end, and soft and pliable at the other end, and have a gradient or step-function in between. Also, you can print in different colors or materials, and vary the surface texture and properties (smooth, rough, insulating or conductor).
IOW... Your Imagination is the Limit. THIS is worth getting excited about and to have "hard-on" about, so to speak, because you can MAKE things that you need for FUN, PROFIT and PREPPING. All joking aside, you could print yourself an Ebola Biohazard Suit. You could print the gun Bottom, buy the Top.
3D PRINTERS IS WHERE "GOLD" IS. I plan to sell off part of my Gold to buy a 3D Printer (for fun+profit). And then buy gold from the profit stream. You see, sometimes... HOW you see the problem IS the problem.
No Keyser, that's what he WANTS you to think. Sneaky old bastard.
fleece the gold folks, once again, sure make the singularity seem vulnerable to...................what>? some math god?
Keyser
Greenspan never said to "Buy Gold"
I used to want him to shuffle in front of a bus.
Now I think he should be drawn and quartered and his parts sent to the 4 corners of the Financial Universe.
Excuse me..............But didn't Bernanke tell Ron Paul that gold has no intrinsic value - or something like that?
We know and much of the nation will in time find out that Ron Paul was telling more of the truth than they wanted to hear.
More like what women don’t want to hear.
The problem with the men has more to do with preconceived ideas.
Keel Hauling is my personal favorite of the early forms of torture... Still, too good for the likes of Greenspan...
Too good indeed. Instead, I propose this one from the good old (medieval) days. Tie him down. Put a starving rat in an iron bowl that is upended on his belly and . . . heat the bowl.
I'm told that the only way for the rat to escape the heat is to eat its way to freedom, which it will do.
Or, you could "get a couple of hard, pipe-hitting niggers to go to work on the holmes here with a pair of pliers and a blow torch," in the words of the immortal Ving Rhames.
https://www.youtube.com/watch?v=tVRPz6-Tkww
These are the most succinct and truthful statements I've ever heard the guy make (even as summarized by someone else).
When Greenspan starts talking straight, you know the end is nigh (either that or he has gone senile and mentally reverted back to the time when he believed as Ayn Rand did).
this the more appropriate truth you should believe from Greenspan:
"We don't know how Fed policies will work"
http://www.bloomberg.com/video/greenspan-we-should-tighten-at-some-point...
Come on, I'm not that ugly. And it's always a good time to buy metals.
i'm figuring the FED will now try to use Alan's comments as rationale to act to help the economy again, because it's still broken and something must be done to try to fix it. Watch for a brand new program to be rolled out, not QE. Let's call it "QT" where it stands for "Qualitative" somenting or another. Anyone got a T word that fits?
Qualitative Transference.
Just enough gobbledygook to men whatever they want it to mean.
No, he's not yet dead! He suffers a worse fate. Every night, he gets in bed with Andrea Mitchell.
Another example that only the good die young. Kissinger and GHWB are another. It's a long list.
" Retired Mafia boss tells all..."
AS a previous poster so eloquently wrote . . . where is a violent case of ass cancer when you need it ?
What if his goal is not to alert the common man to PM but to stampede people into it to drive up prices so his bus profit while others get stuck with the losses?
Sorry, but the silver rush and retreat of a few years ago leaves me suspicious.
Good morning ladies,
Some serious cheese angst sliding off some seriously crispy aged crackers round here aye?
Yep! It looks like they're giving us what we want to hear. But... we know you know we know and sooner or later the shit will hit the fan and those who stand will be proven right
Greenspan was always knew what gold was for. He wrote on it long before he became fed chair. Greenspan did what was good for him. He advanced his career. He made a lot of money. That's what all or very nearly all the politicians and the expert intectual class do. They do what's best for them first. If it screws over the people of the country they don't care. The only solution is not to allow anyone or any group to have that sort of power.
How the fuck is this not treason considering what they have done?
It is... They don't care anymore because they know that no one can do anything about it...
Won't do anything about it. Americans,what else is their to say.
In case you didn't get the memo, the US is a POLICE STATE!!!! What's the average American going to do, protest? We've seen how well that works out... In light of the NDAA, Americans have zero rights no habius corpus, none, nunca, nada, nyet... If we stand up to the authorities, we get an MRAP up the ass, along with the rest of the SWAT team goons...
Then by your logic we should carry around some KY and just let these fucks anally rape us at will. At some point we WILL have to stand and Fight, what other option is there? Power does not beget power without a stuglle [ie FIGHT], you don't have to like it you just have to Accept it. For if we keep on this path we are all going to suffer horrificaly and die.
I'd rather live one day as a Lion then a thousnad years as a Sheep.
Make your own choice and live with, I have.
They have increased the KY rations in FEMA Camp 47 from 8oz to 5oz per raping!
It's time to read the book that matters, and is freely available the book ALL power grabbing grubby governments fear and hope that you won't read. 'The Secret Freedom Fighter'
You don't need to poke a sharp stick in the eye of the police state. Better to be a passive refusenik and politely say "No, thank you sir. I prefer to ivoke all my unalienable rights. Now, go get a warrant." When you get in their faces and act belligerant you'll get conked.
It would not be easy or diplomatic. Police State regardless. It was the 3%ers against the empire. Problem is were didvided, very divided and dumbed down beyond repair.
I think we are closer to the tipping point than many suspect. The government and their police are no longer seen as legitimate by a significant minority. With seventy percent thinking the government is on the wrong course that minority is growing. When it becomes a conviction held by a third of the population the game will change.
Did you see that movie 'Fury'? Imagine you're the crew of the disabled Sherman and there's an SS company, including some armored vehicles, marching straight toward you. How many do you think you could destroy, and how long could you delay them? That's the game a brave man plays.
soooo.... buy or wait.... hmm..
now overnight, gold is down $20 to $1206! As Cramer would say, "BUY! BUY! BUY!"
"Why now?", you ask?
All successful Opportunists and Ploticians are ALWAYS willing to embrace the Inevitable, -- but only when the time comes, and as a last resort. Until then they will resist and even fight it. And even after the Change, they position themselves to be part of the Change, and thereby continue their "reign".
BTW... the British Monarchy and Aristocracy had realized this, which is why they lasted much longer than most of their European counterparts (who played only hardball and were overthrown).
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raising interest rates 6 consecutive times by him caused all this.
I always thought those successive years of artificially low interest rates was what caused this. Once everyone was on the hook for MOAR debt, he did incrementally pull the rug out.
Lending money to people based on the fact that they could fog a mirror caused this.
not to mention bundling and selling said fogged-mirror credit as AAAAAAAAAAA+ securities
it wasn't the credit creation, but the load of shitty deals made thereafter, and the PROTECTION of those bond-holders that counts.
the system never properly cleansed.
not yet any way.
ummm...no. His, artificially low rates that preceded those rate hikes, caused this. Just as it always does.
Artificially low rates are just a new method of currency debasement by the jibberish speaking monetary high priests. Nothing has really changed since the Tulip bubble. It's all about currency debasement.
Your bursting globes are much more interesting than your comment.
With chi-chis like that, she can say whatever she wants. - The Presstitute's Moto
"raising interest rates 6 consecutive times by him caused all this."
You and your fuck.ng liberal sh.t head friends just don't get it!!!!
Interest is the price of money!
No one needs to set interest rates just as no one needs to set the fuck.ng price of carrots!
The abundance or shortage of real money gives a signal to the market about how much capital is available.
We don't need no fuck.ng central banks to do it!
What's the use? Fu.k you for being so fuck.ng stupid!
And to think that tongue performed cunnilingus on Ayn Rand at "The Collective"
Snakes do that.
Aaaaarghh
Can I have the Tee shirt franchise with your fighting insignia on it with matching baseball cap?
I prefer to see them cleaning the toilets in the prison for a few years and then visit the axemen.
Ann B mentioned just today how 12 feet of rope can be used over and over again.
I'll take an axe, but would prefer some simpler, like a mallet.
No one could have foreseen this.
. .
0
FU Ahole! stop jinxing my positions
Mr. Greenspan said gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.
If he makes it to Christmas...Me thinks he will be getting fewer Christmas cards this year
Funny how the octogenarians slip up and begin telling the truth with they start getting senile...
"Me thinks he will be getting fewer Christmas cards this year"
Greenspan? [or for that matter, ANY Fed Chair]
CHRISTMAS cards?
Isn't that rather 'counter intuitive'?
i just have to give you an upvote because of your handle! best movie ever.
The preferred term is now "Winter Festival"...
in celebration of Santa, Frosty, and Walmart.
Once upon a time, there was a much younger, and honest, Alan Greenspan.
http://www.constitution.org/mon/greenspan_gold.htm
Here's a good line about the FED.
The "Fed" succeeded; it stopped the gold loss, but it nearly destroyed the economies of the world, in the process. The excess credit which the Fed pumped into the economy spilled over into the stock market, triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom.
He was writing about 1929.
Then this.
Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
especially with BOATERS ASSURANCE RISK.
Mis-Navigate with BAR!
some time ristrictions may apply
russia has increased its gold holdings. it surpassed china and india. russia suggest gold is a good hedge.
I hope so! Creates a buying opportunity.
$1000/oz! Then they'll snap it all up.
The Tribe must be ready to send gold down some more...
Oh oh oh shit yes, down down down pretty please, I really neeeeeeeed some moar.......
"Paging Andrea Mitchell, you are wanted in the mens room third floor, please bring a diaper and a box of Shitty Wipes"
He is a Wise Sage Christian. Sage Kelly and Christina will reward him.
Eeeee-youuuuu! That means hotty Christina would have to swing with Andrea Mitchell. Wait, I'm losing my lunch!
[HURL]
Jump you fucker!
I think he needs just a little more encouragement. Show him the nail gun.
...held by a drunk snow plow driver.
Greenspan is a special kind of evil, so only a special kind of ending will do... How about mauled by beggars and ripped to pieces for the change in his pocket... That sounds fitting...
How about making him eat a million in FRN's?
The punishment should fit the crime, an eye for an eye and all that,...
No, how about turning him loose in Bangladesh with two dollars in his pocket.
Or borrow Michael Hastings car...
Might need a little duct tape for that.
Or a first-class ticket on a Malaysian airliner. Taking off from a Russian airport. In the dead of winter. After a vodka toast: [vashee zda-ró-vye] – Your health! Oh, but the vodka is not for him...
Nope. Pull a Kahl Drago... melt about 100 oz of gold and pour it slowly on his skull
Derek and Clive (Dudley Moore)....with the music
https://www.youtube.com/watch?v=_ZEEgIti8sM
yeah, fuck Greenspan and all the rest...
But he is right. And so have "we stackers" been right all this time. And as we all knew it was only just a matter of time until this played out the way we knew/know it would.
It was a wise old Turd who once said: The End of The Great Keynesian Experiment is Upon Us.
I headed that statement way back when and I started stacking. So have many of us. We'll be okay as we go through this world monetary reset as long as we keep our wits about us and stay on the path we have known was right all along.
It's gonna get much, much worse before it starts to get better. I hope we all make it. Some of us won't. Greenspan won't live long enough to see the result of the changes he started us on all those years ago.
Yeah, he could be considered a traitor. But then again it could also be that he knew long ago we would have to go through all this bullshit over many decades and collapse our system if we were ever going to be able to rebuild it and start it over the right way....hopefully with some new version of what the Founders intended, which was a bi-metal monetary system backed by gold and silver.
Many evil people are fighting against us, but I think there are even more "good guys" at all levels who are on our side and helping steer this thing in the right direction.
Nothing is perfect and never will be. Our system is far from it and there's much corruption. Ending it and getting back to a solid monetary system could end a lot of that corruption once all this fiat is finally flushed down the toilet.
We know this whole thing is very complex and complicated, so who really knows what side Greenspan and certain others have really been on all along. Lots of deception all around for sure.
So we just need to keep doing what we've been doing...keep preparing for anything and everything. Keep stacking. We're being given the gift of the cheapest precious metals in history right now given where we're at on this timeline towards collapse.
We need to keep taking this gift for as long as it's being offered. It won't last much longer. It's the best thing we can do for ourselves and others.
Just keep stackin' the shiny and stay on top of things and be ready for anything and most of us will do just fine on the other side.
>> It was a wise old Turd who once said: The End of The Great Keynesian Experiment is Upon Us.
>> I headed that statement way back when and I started stacking.
I can only surmise you've lost your ass then as, if I'm not mistaken, old Turd started spouting right around the top in metals.
lost my ass how????
I remember reading on forums where people thought they could "become alchemists" by "turning plastic into gold and silver" so they ran up credit cards when silver was $40 and gold was almost $1,900. I wonder how those interest payments are working out for them?
it doesn't matter what the price of PM's are if someone did that. Many people claimed to have taken a 5000 dollar credit card to buy PM's and then cut the card up and never pay the bill.
But whether silver was at 40 when they charged up 5000 bucks or at 20 it still would only come to 5000 bucks. All hypothetical of course, but if someone did that then they're still paying the same interest rate on whatever amount they charged.
How many ounces they got with it just all depends on the paper prices at the time they would have done it.
But to the question of anyone "losing their ass" on PM's whenever they started stacking is really a dumbass question to any stacker.
Firstly, whether I started stacking at 25/oz (which I did) or 40/oz (which I did buy plenty of ounces up to that level), I haven't sold a single ounce of anything, so I haven't lost my ass at all. I never intend to sell, but believe me, if a day comes where I might be tempted to let a little go, silver and gold are going to be many, many multiples higher than they are today. So whatever I may have given for an ounce of silver or gold at any particular time between 2010 and now will be of very little consequence.
Am I able to stack more ounces at these prices now and over the past year than I was able to in 2011 during the run up to 40/oz? You bet. And stack it, I have.
But again...it's really all relative, and the point has always been about using my excess fiat to stack phyzz. Those were dollar that I set aside anyway just for stacking. It's not like I sold my house and all other assets at 49/oz and put every bit of it into silver. Only some dumb fuck would do that...and I know of some who did.
But...again...even though those people may be hurting from that and it was a stupid move to make (it's stupid to do that in anything you're investing in, not just PM's), they still haven't lost anything as long as they haven't sold their PM's. If they're able to weather through this without selling then they'll still do very well one day. 49/oz is going to be a distant memory in the not too far off future...that's just how it's going to be and only the trolls would dispute that.
So back to me...as I said I started around 25/oz. Just before Turd's Bottom, which was a somewhat famous call he made that at around 26.50/oz back in 2011 the bottom was in and silver was going to skyrocket from there. He was right and it damn near doubled after that. The rest we all know very well up to this point.
I stacked up to around 40/oz back then in smaller amounts as it continued to rise higher...I was waiting for the comeback, so most of my stacking back then was between 25 and about 38 if I recall. Then I slowed it down.
Now...after being at the levels we've been at for so long is when I've done the majority of my stacking. And I keep track very closely of what I have and when I got it, so I just happen to know that after all this time my dollar cost average is now down to around 23 or 24/oz.
So no...I haven't "lost my ass", and am in fact lowering my dollar cost average at this current paper prices with every new purchase I make.
And I'm adding to my stack as well which is really the point of this whole thing, isn't it? It's about how many ounces you have, not the fucking dollar value. Who gives 2 shits about what the dollar value is now or later? We stack as insurance against the collapse of the dollar, right??? And ounce of gold one day may be worth a million dollars. But what are those dollars actually going to be worth? What good would having those million dollars be if they only amount to 1 months rent in a shitty house and a loaf of bread is 500 dollars, etc.???
The dollar is currently worth about .04 cents compared to what it was 100 years ago.
It's people using dollars who have lost their asses. Those who have been stacking, no matter when they ever started stacking are the ones who have preserved their wealth and purchasing power for the future once this bullshit paper game finally comes to an end.
And as I always say...there's no point in stacking phyzz if you don't budget your fiat properly and allocate it towards other things like guns, ammo, food, water, and other essential gear that will help you through the coming chaos.
If it hadn't been for me stumbling onto ZeroHedge back in 2009 or 2010 whenever it was and then following all the other great minds I found via this site who were helping everyone understand what was going on and about stacking phyzz PM's then I'm pretty sure I would have lost a lot more in wasted time and lost knowledge than anything someone might equate to dollars "lost" from buying silver at 40 compared to 20.
Just keep stackin', ya all...do it regularly and in smaller amounts and you'll be just fine and you won't have to be scared that you're "losing" any dollars or whatever. And a scared man can't win.
@Save_America1st:
That sir, was an outstanding post. Thank you.
Thanks man...I appreciate it!
+1 brother. Regards to Turd and the old timer crew at TFMR...
BoP
you bet BoP, and thanks!
see you on SilverDoctors from time to time ;-)
@ Save_America1st
Bullseye, motherfucker! I feel the exact same way about PMs. Zero hedge opened my eyes to it more than anything else.
Fuck yeah!!! I'm glad it wasn't just me! hahaha
Well even though as I said before, I didn't intend to turn this discussion into a Turd-Fest, hahahaha...I still owe a lot to that dude too. He's done a lot for all of us and continues to do so daily. And the following over there is awesome as well and they/we contribute an unbelievable amount of killer information and advice. Just fucking awesome.
But ZH is still the gold standard for so much other killer info: chart porn, WilliamBanzai7 (love that dude's stuff), bankster suicide updates (you just can't get that anywhere else, right??? lol), excellent stuff from George Washington's Blog, High Frequency Trading scandals, and how about that awesome story today about that Wall Street douche bag's scumbag ex-wife whore who busted him and ALLLLLLLLLLLLL his buddies, even his fucking drug dealer in the divorce affidavit???? HAHAHAAHAHAHAHAHHAAHHAHAHAHAHDAHAHFHAADFASDFSDFSDFSADFAS
That's one of the all-time greats! That dumb bitch better watch her back...she outed a lot of people about a lot of bad things and many could probabaly make her disappear very easily. But you just won't hear about that Wall Street insider stuff other than ZH. Never could before ZH and nobody else does it better...yet. Tylers ;-)
I get offers every month for '0% until <some date 9 months out>' loans. Anybody who REALLY believes the system is rigged, but doomed, would take the riggers' position - borrow long at absurdly low fixed rates, short miners, BTFD on the S&P and tech, and convert a portion of the profits into physical PMs.
>> lost my ass
Here's a riddle. Gold is down $18 on the day. How much more is your stack worth now?
Read my post above. I hope you learn something from it as I and many others have learned over the last several years.
And I hope you BTFD too. :-)
Greatbeard it all depends on when you started stacking. I started when gold was 250 an ounce. I could care less if the price is down 18 bucks today. Some of us old farts have been buying and trading gold nigh on 35 to 40 years. Guess what I can pass that onto my children without any fucking taxes.
Now take a look at the markets so many worship over the same period.
There is no way i am buying right now especailly after this Greenspan wants the pleebs to buy into gold so they can destroy their wealth. I have done real well with gold by the way. Yes I am sure alot of dumb folks started stacking at the market Highs and well they derserve what they got. The one thing about an asset you can actually hold in your hand though, you do not lose any money at all until you sell it. The same can be said for stocks but then they are not something tangible.
>> it all depends on when you started stacking.
I stacked mine long ago and I'm doing just fine. But, The Turd did start spouting his schtick pretty close to the metals market high. Lots of people bought due to his hype. That was my point. The gentlemans statement was he saw the light and started stacking about the time Turd started his spiel. If that's the case, he got hosed. Just because I happen to be a bug doesn't mean I can't see, and acknowledge, facts and the truth. But most on sites like this are perpetual cheerleaders. I've had my fill of cheering when the price goes down and the endless "back up the truck" boasts.
Turd did not start any "schtick" or anything of the sort near the silver high...not even close. He called things very well prior to "Turd's Bottom" which I believe was around 26.50. Sliver had been on a big up-tick prior to that and Turd called that it was going to reverse and bottom right around 26.50 so we should all chill and wait for it and then hit around that area.
Those who did, such as myself (I had been buying prior but was still very new and learning, reading, buying 10-20oz's, waiting, etc.) bought a good amount right at "Turd's Bottom".
Well, that turned out to be a classic call back then...Turd was on a roll and also back then his chart analytics were working very well. But as we all know, after that when things took off well...you can just throw logical, fundamental chart analysis out the fuckin' window cuz since then things have gone totally insane.
Anyways...you're mistaken about when Turd started kicking ass by about 25 bucks an ounce. He didn't start at 49 an ounce at the high...it was well before Turd's Bottom probably around under 20/oz. I started finding things around October 2010 well prior to that and was slowly picking up on things, reading ZH a whole lot, and seeing some really great posts from some dude calling himself Turd Ferguson.
And as we all know back then the site was much different. There were a lot of very kick ass people posting some seriously stellar shit back then compared to now. No offense, ya all...just sayin' ;-) But I still try....
So then Turd started his blogspot called The Watchtower and a whole lot of us from ZH followed him to it and well the rest is still history in the making at this point. But I'd say TFMR has become one of the most outstanding PM, prepper, off-grid, mining stocks, and everything else we think is kick ass sites on the fucking planet!
The following over there is the best you can find. And Turd has done an amazing job running the site and adding value to it for all of us.
Anyways...none of this today was intended to become a Turd-Fest, hahaha...just explaining some background to you since you decided to pipe up and act like I and many others have "lost our asses". That's just not the case for me at all and I don't mind explaining why. Might edumacate some folks.
And I still back up the truck every chance I get. I don't have deep pockets and piles of dry powder, so backing up the truck for me comprises something around 20 ounces every time I see a good spot to grab some. Then I wait.
I've been riding this long downward trending channel we've been on since the beginning of July and it's been awesome! Pull it up on Netdania.com and look from July 7th or so until now using the daily chart. Just about every week or so they've been running it down a nice chunk. Then it might drift a bit sideways for a few days and then bam....they run it down again. That was just under 21.50 at the beginning of July.
If you've been watching it and charting it you can see how they've moved the paper price down each tranch by about 1 dollar...from 21.50 to 20.50 to 19.50 to 18.50 to 17.50 and then just under 17 for a bit...now it's trending sideways in a tight little price range since then. Keep buying in this range! Fuck it if they hammer it under 17 again like they almost have today. Fuck it if they hammer it to 16 or 15....buy it if you can get it. Downside risk is pretty much nothing from where we're at right now.
So each jump down I've been grabbing as much as I could and I hope you all have been too. This has been an amazing gift that these criminal scumbags have been giving those of us very few who stack phyzz. I hate to thank the mother fuckers, but I'm very glad that with my limited budget I've been able to benefit from their criminality.
Now have I "lost my ass" from 21.50 down to 17 since July 1st "Ted"???? Is that how you would characterize it because I'm not godly enough to know when the absolute bottom of all time history is going to occur so that I can wait and then back up the truck and sell my house and buy 50,000 ounces????
Nobody can accurately predict or time this shit. We're dealing with criminals with unlimited power and fiat paper. We have to do our best and play the game along with them. Shit, like I said...I felt that I had identified a pattern that they were using since July so I bought in slow at each dip "feeling" they were going to keep knocking it down to 17 in tranches and that's exactly what they did. Did I call it ahead of time for the world to view??? HAHAHA...no, of course not. I'm no Turd :-) hahaha!
But I did tell some friends about this, sent them charts, explained what I thought was going on and we kept watching and buying little by little this whole time. And you know what? I think I did a pretty damnn good job spotting that possible trend and steering myself and some of my friends who are new to stacking on the right path. My buddy's dad was just starting right around 21.50 in July and I said go slow because I think it's going to keep dropping. My buddy's dad is so fired up now that he followed this plan. And I already knew him well enough for a long time that it was well understood I could be wrong, but that's why we took it slow and bought in small amounts and then waited to see what would happen "next week".
The Cartel really doesn't have much else they can do. And their game is now very well documented and fairly played out at this point. It's coming to an end. Could they smash paper down to 10? Sure...bring it on!!!! I'd fucking LOVE it if they did that.
However, if they do we can almost forget about being able to find any phyzz. And if we can it'll take 2 months for delivery and premiums may just hit record highs of 50% or more. The dealers can't be expected to just give their silver away for nothing, right? They'll probably just close shop, say they're all out, or if someone is willing to pay nearly 100% premium on 10 bucks an ounce just so the dealer might be able to make a buck an ounce profit then they might sell a little here or there.
So this thing is pretty much all played out for all intents and purposes in my opinion.
I will continue to buy as this thing reverses and is "allowed" to go higher. I believe they will manipulate the price again upwards in slow moves just like we've seen them do on the way down to this bottom. So I'm going to throw my prediction out here now since I've been thinking about it for a very long time.
I think they will allow prices to increase in the same manner that it has decreased...in dollar chunks slowly over weeks back up to 25. I will buy on every dip on the way up to 25 and then I'm going to wait. I see no "technical" resistance (if there is such a thing logically anymore) from beyond 25 up to 30. I think they will run it up to 30 really fast to try and sucker the paper sheep in for a little sheering. Once everyone goes long and thinks we're heading back to 50 I think they're going to pull a Crazy Ivan around 30 and smash it back down to 25 or maybe even 23.50.
That'll really fuck with people's minds at that point. People won't know what the fuck to do. They'll be wondering if we're heading back down to 20 and 17 again or if it's going to start a slow rise again. I feel it will be the later...so we wait and see.
I say buy regularly in this area as much as you can budget. The price is waaaaay under the average cost of production which is estimated somewhere from 20 to 25 per ounce depending on the mining company. Buy it here and love it!
Buy slowly all the way up to 25 and then chill. Wait and see what the Cartel does. If silver takes off speeding towards 30 let it run. Give it some slack...it'll be like fighting a world record tuna! Let it wear itself out. The Cartel will sell hard around 30 and fuck all the longs over big time. Once silver comes back down to wherever and hits solid resistance then start buying again.
Or fuck it. Sell all your phyzz now, take your "losses", go to Vegas and put all that fiat on red 25 at the wheel and see what happens. lol
We're at a major influx here...we don't know how many more cards the Fed, the Cartel, the NWO, this treasonous government, and any of the other nefarious scumbags out there have up their sleeves. And we can't really change things that much either at this point. But we can take care of ourselves by getting ready like we've been doing for years. Some are just starting to prepare...for some it's been many many years...for me, I'd say it's been about 7 years now.
We all know they can keep this farce going for a very long time, so preparing now is our only option, because we can't prepare after the shit hits the fan, right????? We do what we can now because what fucking choice do we have??? We're awake. We see this shit now and we can't "un-see" it, right??? You know what I mean. Too late. We can't be plugged back into the Matrix and all that shit.
So anyway...we know we're right...it just may take years before it's proven for all to see and understand. We do our best, fuck the rest. Keep trying to wake others up and hey...all you "early" stackers out there, kinda like me, haha...hand a few friends and family an Eagle or a Buffalo once in a while. Give them one on their birthday or for Christmas coming up. Let them know how important silver is in so many ways and that now is one of the best times in history and especially in our lifetimes to start buying silver. Try to make them understand it's a lifeboat for them and their kids. Tell them to save it away and never selll it (or they'll lose their ass! hahaha) ;-)
I gave my buddy 2 jars of moonshine (the legal stuff) for his birthday not long ago and I put a silver Buffalo in the bottom of each jar. Even his 7 year old kid was oggling and freaking out about it. I gave another friend a silver Eagle for his birthday too...told him I don't buy presents anymore for people. That's just worthless junk and waste of worthless dollars. So I gave him a brand new 2014 Eagle. That's how you spread the word.
Everyone I give an ounce to...you should see their eyes light up. I'm sure you all know that probabaly 98% of all Americans don't even own one single ounce of pure silver. Isn't that fucked up? So pretty much nearly everybody you know has never even seen an American Silver Eagle coin much less held one in their hand. Give them one sometime and watch them light up. It's pretty cool.
I can't even tell you how many people I've shown a silver Eagle to and they had no fucking clue what it even was! It's astonishing to see that. But then again not very surprising knowing what we know these days about how shit is...
Well...think I've gone on enough about all this for what it's worth. We'll save this one for posterity though...damn, I might end up being right on my call...who knows!?? But I'm thinking in 2015 we'll find out one way or another. That shit storm is on it's way and it's getting pretty close. We'll have our answers about a lot of things in the next year or two, that's for sure.
So keep stackin' that phyzz...don't worry you won't lose your ass too much ;-) One day one of those monster boxes of Eagles or Buffaloes are gonna be worth a whole lot of.....................LAND!!!! hahaha...you thought I'd say "dollars", huh??? Fuck that!!! We don't need no stinking dollars!
(unless they're made of pure silver or gold) ;-)
There's another little trick you may not be aware of also, "Ted". It's called playing the GSR (gold-silver ratio).
If you play it right you can stack free ounces of gold and silver for just the amount of the premium. You can do very well playing this ratio when it swings wide one way or the other.
If you recall, the GSR at one point in 2011 when silver peaked was around 30:1 for a short time at it's lowest. But it was nice when it was anywhere under 40:1 during that time.
You take your cheap silver at whatever GSR you decide to make your move on and trade it in for gold. So let's just say that at around 35:1 I traded in 70 ounces of silver Buffaloes for 2 ounces of gold. Which I did. I paid the premium difference that my LCS charged for the 2 gold Eagles which was somewhere around 35 extra per coin, so 70 bucks which was about 2 extra ounces of silver. Okay...got it? Good.
Lately, the GSR has been over 70:1. It hit nearly 73:1 last week. Today right under 70:1. Well...those 2 gold Eagles came in pretty fucking handy the other day when I decided to play the GSR again and reverse my trade.
2 gold Eagles that I traded what came to about 72 ounces of silver for ove 3 years ago just turned back into 140 ounces of silver Buffaloes. I nearly doubled my original amount of silver on that trade. FREE SILVER.
Are you learning anything yet or do you still think people lose "money" when the fake paper price of silver and gold go up and down each day?
Just BTFD and stash the phyzz away. The dollars given for it don't matter at all right now and they never really matter to a stacker. Gold and silver phyzz aren't for day traders, man. They're insurance for the very long haul.
But if you play the Cartel game right then on certain days at the best GSR you can win extra ounces of phyzz!
One day that GSR is going to be back down around 40;1, 30:1, 20:1, and even lower. That's when hopefully there will still be some gold around to make a silver trade so we can stack gold for cheap. That's how you play the game.
2 gold Eagles that I traded what came to about 72 ounces of silver for ove 3 years ago just turned back into 140 ounces of silver Buffaloes. I nearly doubled my original amount of silver on that trade. FREE SILVER.
That was pretty bad ass
thanks! So get ready for that now and buy silver here and now. With a GSR over 70:1 we're at one of the all time GSR highs in history. Buy silver instead of gold. Sure, it could be a risk that there won't be any gold available once the GSR comes back down to 30:1 and lower again. It's a risk. But all that really means is that you will have a bunch of silver that's nearly as valuable as gold. And many would say silver should be on par with gold right now at under 10:1 GSR. So buy silver now and hold it.
When the GSR gets back down to those sub 40:1 levels trade some in for an ounce or two of gold, then wait. When the GSR gets down to 30:1 or lower make another trade for an ounce or two of gold. Then wait.
That's pretty much free gold at that point. But my assumption is that when we hit those levels we're going to see some pretty high premiums, so we'll all just have to do the math at that point to see what are actual trade value from silver to gold will be. No big deal...you're still going to make out ahead...it'll just be a matter of what you think is best to do at that time whenever you want to pull the trigger.
Trading the GSR is really the only way stackes should deal with their phyzz. You NEVER sell for fiat dollars...fuck that. If you must make a move then do a GSR swap when you think the timing is right. At least you know whenever you do it you're doing it to gain ounces one way or the other in silver or gold, right??? You can't lose, you can only gain ounces at that time or else you won't be making the trade, right???? LOL ;-) Easy!
I have this feeling though that this GSR is the last time in history (or at least most of all our lifetimes) that we're going to see it this high. With the monetary sytem failing and destined for a big collapse, along with silver becoming so much more rare, and the criminal paper market defaulting eventually, there's just going to be no other way to justify or "create" a false GSR so high ever again.
This is it in my opinion, folks. Get that phyzz silver now while we still can. That GSR is eventually going to drop really fast. This is because of silver's low dollar value and it just gets way more volatile than gold does. So once the shit hits the fan, silver will outgain gold nearly 2 to 1 and that will cause the GSR to drop in a hurry in chunks as the Cartel rides silver price upwards.
At some point though they're going to lose control...can't ya just feel it???? The Crimex will go bust and then the game unwinds in a fuckin' hurry. They know they're going to lose control eventually and people aren't going to believe in the paper price anymore.
Shit, just look at Ebay if you want a phyzz price indicator....you just can't get any deals on there anymore like you used-ta-could. lol The phyzz prices on there are way higher than the paper spot prices. That's kinda been the real phyzz price indicator for a about 2 years now.
We used to be able to find great deals on there...now every ounce goes way over spot plus normal premium compared to buying at the LCS or some online dealers even with shipping and credit ard charges, etc. Fuck that.
Anways...get that phyzz now. Personally, I think we should all be 90% silver right now with just a little gold and maybe some platinum and paladium just for shits and giggles. The stuff does look cool ;-)
We can get so much silver right now for an ounce of gold...that's awesome. There's never been a better time to have silver, and once it takes off and out gains gold on a hot streak we'll be able to play that cheap/free silver back into getting some cheap gold.
I really think playing the GSR to swap back and forth isn't stressed enough. Nobody talks about it, but it's an excellent way to use the Cartel manipulated swings to gain free ounces of phyzz. You just have to be patient, but at least you know whenever you make the swap you're coming out ahead in phyzz, right??? But nobody every really focuses on it or stresses it enough. It's like getting free phyzz, so I can't figure out why nobody post more shit about it to educate people. Maybe it's because it's very slow process that obviously can take years as I mentioned in my last post and that take patience. But it's not like you have to worry about it every day. It's like, set it and forget it...until the right ratio comes around. Then you jump on it when you feel you're gaining a good amount of free ounces. No stress...just wait and see. You don't have to put a time limit on it or anything like that. But nobody talks about it. It may take 5 years sometimes to get a really kick ass swing in the GSR, but who cares, right??? If we're just stacking and preparing and waiting then we've got the time until it rolls around again, hahaha :-)
thank you for reminding me I that I DO NOT HAVE MY SHIT TOGETHER!
I needed that.
rock on, man!!! glad you're now gonna be all over this shit That's exactly how we stackers have to roll!!!!
Otherwise, we're not going to be able to take advantage of this game.
Let's kick some ass and win this fucking game!!!! We have every opportunity to win it as long as we are awake. These evil scumbags are actually tryin to give those of us who are a awake a chance to win!
I dont know what it is about some people who start spouting off because of there frustration of Gold and Silver. I started stacking this year, when i realised that China was accumulating the biggest amount of gold M/M in history. These guys were buying at $1500 an ounce, all the way down to the current levels. Now Russia are on the scene increasing there reserves and central banks as a whole around the globe are net buyers. Funny thing is, both Russia and China have the ability to trash the dollar and prosper from it as a hedge, in fact this is what they are doing globally, denouncing the petrodollar and creating bilateral trade deals. Is it not obvious what the game plan is?
Do you have faith in the US Dollar, and who would you back to win this economic war (China/Russia or US/UK) are the real questions? Look at what China has achieved in the last decade, and look at what the US has acheived. Look at Russia now taking the moral global stage (god forbid a leader who is willing to speak the truth, but could be at his own demise) Look where the power is going and what the powers are doing? BUYING GOLD IS ONE OF THEM.....
Putins recent speech in front of the Arab leaders is significant, once the GCC region officially favours the East, then the end game is nigh. I know for fact (living here) that the GCC are having regular dialogue on creating a GCC currency, this is getting push by Saudi Arabia, with or without Bahrain and Oman.
They know the Petrodollar is fucked long term and they know that the US economy is addicted to monetary inflation, killing the exchange for oil. QE4 will be the final nail in the coffin and things will move quickly from there.
Tell me this, i can buy an ounce of silver for the same price as a double jack and coke in Dubai. That fucking amazes me, which is why i am heading out to buy a kilo of silver this weekend.
Fuck the Financial Market!
Awesome! Exactly!
Welcome to Fight Club :-)