Silver! Who Is On This Train?

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NoDrama

Well-Known Member
Moody's and S&P will NEVER downgrade US Debt, to do that would be to admit in fraudulent actions in the past on all sorts of derivatives.

Citigroup's traders estimate Silver will be at $70 an ounce by year's end. Don't know if that will be true or not.
 
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Dirty Harry

Well-Known Member
I obviously am not an investor after I ask this question. What good is owning any metal on paper instead of having the physical metal in your possession? In the old days when we had Gold and Silver certificate dollars you could go to a bank and ask to trade in the paper dollars for the equal value of the physical metal. Now our dollars are "notes" and not backed by anything other than a promise. Since airlines always over sell seats thinking some people will not show up on time, I can see paper holdings being oversold compared to the physical amount available. What happens when everyone with paper holdings demand to exchange for the physical metal and there is not enough to cover the paper? You don't have nothing but a worthless piece of paper. If you hold the physical metal, even if prices drop you still have something material for when the value goes back up.
 
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NoDrama

Well-Known Member
Dirty Harry said:
I obviously am not an investor after I ask this question. What good is owning any metal on paper instead of having the physical metal in your possession? In the old days when we had Gold and Silver certificate dollars you could go to a bank and ask to trade in the paper dollars for the equal value of the physical metal. Now our dollars are "notes" and not backed by anything other than a promise. Since airlines always over sell seats thinking some people will not show up on time, I can see paper holdings being oversold compared to the physical amount available. What happens when everyone with paper holdings demand to exchange for the physical metal and there is not enough to cover the paper? You don't have nothing but a worthless piece of paper. If you hold the physical metal, even if prices drop you still have something material for when the value goes back up.
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Got to have Physical!!

NoDrama said:
Anyone invest in silver? Thoughts, rants?

Personally I have done pretty well since buying a physical position in Sept of 2008, anyone else a silver bug?
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Dirty Harry

Well-Known Member
dannyboy602 said:
I'm hoping that will be the case as the dollar falls flat on it's face and our dollars become worthless paper
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Yea, but how are you going to spend it? Sell it for a wheelbarrow of hyper-inflated dollars? As I always say, I am not an investor.
If the dollar becomes worthless and precious metals have value, you only get LOTS of worthless dollars. Unless every business installs the old time silver and gold scales to do business, I don't understand how if the dollar tanks and metal has value but we use the dollar for trade how the metal can really help...other than giving you a lot more tanked dollars.
 
beardo

beardo

Well-Known Member
Dirty Harry said:
Yea, but how are you going to spend it? Sell it for a wheelbarrow of hyper-inflated dollars? As I always say, I am not an investor.
If the dollar becomes worthless and precious metals have value, you only get LOTS of worthless dollars. Unless every business installs the old time silver and gold scales to do business, I don't understand how if the dollar tanks and metal has value but we use the dollar for trade how the metal can really help...other than giving you a lot more tanked dollars.
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Yeah it would come down to barter and silver and gold are known to have value- when zimbawbe went broke people panned for gold flakes to trade for food.
 
beardo

beardo

Well-Known Member
wheres it going next? It seems very low now to me seeing how Gold is at all time high and silver is not.
 
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NoDrama

Well-Known Member
Japan just decided to devalue their currency by another 50 Trillion Yen. this has made the dollar rise by 3.4% in a morning. PM's are very much affected by the Dollar Forex rate. They trade inversely. Gold and Silver should go down for a short spell.
 
colonuggs

colonuggs

Well-Known Member
gold went up over $40 a oz in one day this past monday......silver seems to be staying around $40 a oz...I would love to see $60-70 a oz

I have a couple silver bars and alot of the 1/2 pound and pound, 3 1/2 inch rounds/coins...I propably have like 25-30 pounds of silver....just waitin

You can make alot of money in gold....not as much in silver ....it should be seeing a nice rise soon
 
Mr Neutron

Mr Neutron

Well-Known Member
NoDrama said:
Japan just decided to devalue their currency by another 50 Trillion Yen. this has made the dollar rise by 3.4% in a morning. PM's are very much affected by the Dollar Forex rate. They trade inversely. Gold and Silver should go down for a short spell.
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Down $3 in 4 hours BUT with the exchange rate near 12-1, I'm headed to the ATM and check the bank's price.
 
Mr Neutron

Mr Neutron

Well-Known Member
Finally found a place to buy junk silver down here and it is 7% above spot. I've checked that against APMEX website and that seems to be a pretty good price.
 
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