Silver! Who Is On This Train?
- Thread starter NoDrama
- Start date
Yep, got $1200 ready to buy at the bottom. Let the good times roll!!
Volatility in a particular market like this sometimes means prices are getting ready to go sky high.
dannyboy602
Well-Known Member
i need to sell some friggin gold...ima take a bath if the price slides any more.
dannyboy602
Well-Known Member
Wudda ya think the turning point will be as it continues to slip. will it be an event? Mb the Feds failed new attempt at another jump start? A default in Europe or what? Bump, bump, bump....I'm interested to know
smokebros
Well-Known Member
Even I am surprised by the amount it has dropped this week, I cannot believe silver is sitting at 32$ The simple way to explain my reasoning is the ETF's. There are all these people today who own gold and silver ETF's and not actual physical. That is all fine and dandy until people begin pulling their bullion out to physically have it, because there isn't enough. Let's say today everyone in the U.S.A bought 1 oz of silver, it would collapse the silver market because there isn't enough physical silver to carry that out, which would cause a huge price hike. 300 million oz of silver left to be mined, 300 million people, you get the point. At the beginning of the year I said silver would hit 80$ per oz, about 4 months ago I reduced my prediction to 65$ an oz. People need to remember this is what silver did back in april/may, when the margins were being manipulated, it went from 50 to 32. I do not see a perpetual slide of precious metals, there is no way they can stay down, the economy and market is WAY to fucked up. m1, m2, m3, mzm are bigger than ever, the FED is not going to stop printing. Lets give it 2 weeks and see where prices are again.
PeachOibleBoiblePeach#1
Well-Known Member
Gold 1,636 and dropping -108,,,Silver dropping 30.70 down 5.66 and plumeting,,, I figure silver will get arout $25,,,maybe even lower that's just my guess,,,Than I'm buying more pysical silver....Keep on going down.
You can short the dollar by buying Silver. I bought two rolls of Canadian maples (50 ounces) today at $825 each, a friggin steal. IMO $29.50 was the bottom of the paper price. When I went to my dealer he was nearly out of bullion, only had 11 silver eagles and the 2 rolls of maples left plus some 5 and 10 ounce bars and a few medals and maybe 1/2 a bag of junk silver. He said he sold so much this week it made his head spin. I figure if everyone is buying physical and selling paper it won't be long before the Comex crashes. More backwardation, but this time on a scale never seen before.
PeachOibleBoiblePeach#1
Well-Known Member
I Still have a few month's before I can purchace a roll or 2 depend's on the price,,,I buy eagle's cause I'm American,,,But was wondering about other ,,,Them $5 dollar value .999 coin's in Canada,,,Is that still a good investment or hedge as an American?
Since Maples, Harmonics and Silver Eagles are all legal tender they are not taxed since you cannot tax currency and bullion is not legal tender. Regular Bullion is taxed at the collectibles rate, currently(28%) almost 2 times higher than the maximum capital gains tax(15% ).
Junk silver is also not taxed.
PeachOibleBoiblePeach#1
Well-Known Member
Well That ship off of Ireland just found 200 tonne's,,,i don't know how to post the article?,,,Now they just got to get it up!
dannyboy602
Well-Known Member
200 tons you say? I'm totally there. With my scuba gear. Haha.
PeachOibleBoiblePeach#1
Well-Known Member
I hear that,,,A couple good dive's and you could be set!,,,But I think it's pretty well secure for now LOL,,,,I don't know how to post or see what i seen,,,but I'm pretty nieve,,,Now lol....It's there!
http://www.bbc.co.uk/news/uk-15061868
Good luck on that dive 3 miles beneath the sea. Pressures there might be a bit"harsh".
Good luck on that dive 3 miles beneath the sea. Pressures there might be a bit"harsh".