Looks can be deceiving but I think this guy is one of the biggest shit talkers I've seen recently. He says... Production price of gold is $1300 and mines are shutting down..... then goes on to say he thinks gold is too expensive at current prices and that he'd wait till it hit $1000 before buying. Maybe he doesn't see the failure in logic there and how stupid he sounds.
"When a commodity goes under a price* and they start shutting off production, that's when you start looking at buying - if you're s smart investor." Sounds like the RE market. * The cost of production.
I bagged the guy when he posted his video about sellng out at $36, but now I dont mind him at all. Not because he made a right call, but he speaks more logic than many other u tubers and others. He walked all over the Holy Grails in the 'industry' such as Maloney, Sprott, KWN and a host of others. Pretty good for an illogical, ranting idiot. He was able to take the emotion out and see things as they are which I personally didnt and I paid for that. His videos are deleted but he did make a good point where he said that after all the QEs and other programs not only can u not get silver above $50 but it is actually falling, with each peak and low being lower than the previous. 'Dont go broke because of your silver ideaology' was another good one. I still have my core of g&s after selling some excess when spot was around $23, maybe $26 I cant remember. Long term I think pms have potential and thats why Im keeping my core, short term- medium term not so good. Will slowly add more to stack as time goes by but no way as much as I did before and not a high percentage of my total wealth like I previosly did (keeping it 20-30%). Lost a decent chunk of $$ but still kind of 'happy' about my exposure to pms as it has opened my eyes more to what goes on in the world and why. I dont follow anyone but like to listen to the viewpoints of RD and Karl Hormann from the bullorbear report. Sure, RD is a bit rough around the edges but I can take the bad with the good.
Only problem in sh1t4brainsland though is that this supposed "cost" of land is phoney - created by bloated government... So how's your RE portfolio going mate? You bought into the most overpriced market on earth yet?? :lol:
I was thinking more upon the lines of materials and labour. I think it's the 2nd most expensive on earth, but it also depend upon the market you buy into, but that's another debate entirely. We built our house 4 years ago on land we luckily purchased about 15 years ago - so we could probably sell it now if desperate and walk away without owing anything and maybe have a bit left over. Haven't bought anything RE wise as an investment, I'm waiting for the RE?gold ratio to be 1:100, but I may have to be content with a higher ratio
Look at ASE sales. The same sales before and after the price drop. Look at ETF stocks. The same tonnes before and after the price drop. Look at the Comex silver futures markets net total position. Dropped from 57840 on 02/10/2012 price $34.61 to 4093 on 25/06/2013 price $18.925. A future demand of 289,2 Moz (27% of a worlds annual supply) that was reduced to just 20,465 Moz (2% of a worlds annual supply, and less than a year ASE production). It's clear that the Comex silver players/hedgers were the main price driver. But of course, others also have their part in it. That's what a market is: a combination of ALL that are active in it. Now let's use the elimination method. It wasn't the Comex that sold away the first $3 of the $35 > $19 price trend. It wasn't the Comex that sold away the $5 of the $27 > $22 price trend. It also wasn't the physically backed Exchange Traded Funds (like IShares Silver Trust). So who/what remains then? What: heavy bars in private / unpublished ownership. Likely also 1000 ouncers like the Comex/ETF's hold in their vaults. Who? You tell me. But one thing is sure, it had to be "physical" silver that was there at that time. No futures agreement. No promise. So "physical" silver holders SOLD. But some seem to permanently ignore this, and instead come up with those "physical versus paper" stories. Reality is that a large part of so-called "stackers" (not only coins, also 1000 ouncers) ALSO buy/sell in cycles. Just read the forums here and there 'between the lines', posts scattered inside threads of various subjects / afterwards. Sentences that go like "I sold 80 kilo at $34". And then, that RawDog enters the picture, publicly stating what he does and what he thinks about other silver 'investors', on the very same moment he acts (buys/sells). Guess what: some don't like it. Isn't the reason obvious? It's not RawDogs sale or purchase that they don't like. It's that he is saying it publicly on the very same moment of his act, that they don't like. For the same reason as a deer hunter that is aiming at the deer, to then see it being shot by another deer hunter. You say that you think that I am wrong. But I use silver market data, so it comes down like saying that the market is wrong. But hey! sometimes I consider the market wrong too. But I try to live with it / adapt stacking strategies to it, instead of blaming big players / paper / leverage etc. The price trend origins in the NET result of what ALL do on the silver market, and reality is that alot only buy silver when they think others will be willing to pay higher prices thus receiving less silver. To then dump it ASAP. Compare the speed of the green with the speed of the red. Says the same without words.