I don't think you could script such a level of stupidity & it just seemed to flow to well to have been scripted
NO NO NO They think they invented everything Where it's actually the Greek's who will tell you they invented everything
$13 U.S. silver...... I will roll with leon on this one....the time is rapidly approaching. We are all convinced that things will continue at this slow pace but it will be a reasonably quick climax. When it happens, we will be convinced that it is going lower. It is going to be interesting.
In America, over the past couple of decades or so, it's become politically correct to reward stupidity, incompetence, bad decision making, and failure. And this is at every level of society including at the top. After all, this sort of destructive political correctness gave America George W Bush. https://www.youtube.com/watch?v=YVynnbx1Xsc .
The futures market position, assuming a 10000 contracts bottom, still indicates a $13.6 bottom. This same indication occurred like 4-5 times this year, for ex 2 juni 2015 was even a $13.3. Sometimes, things that people expect do not happen. Around $50 in 2011 people expected $60 and $100. Why would the other direction be different? I'm holding off buying further, whole 2015 so far, because I don't see need for hurry. I give lower a chance, that's all.
Update to the Silver weekly chart: Still inside the downtrend channel; All major moving averages firmly down; Price struggling at the double-top-neckline; Recently Silver weekly futures report showed Commercial traders built up short position. In summary, it is not an IF, but WHEN silver will break down to US$12 area. The earliest possibility is next week's FOMC meeting.
Silver is really in a crashing course; stay away from it. Let's wait for the wreckage, and then come to rescue. :lol:
I see it.. It didn't break the upper trend and still bouncing around but looks like it might break through the floor if there's no good news. Curious to see where things will go next week.
I have to agree here with mmissinglink. You know, the PM bull gurus and such are often accused (sometimes with merit) of spreading misleading info as it pertains to PM's. But so do the PM haters. One such lie is that raising interest rates will hurt PM prices. Attached in the link is an article that shows that during the last 11 time periods in "modern history" during which the Fed raised rates, in 6 of those times PM's (gold in the illustration) went UP, not down. In fact, during the time period 2004-2006 the Fed raised rates 17 times, up 425 basis points, during that time gold went up 49+%! In the times PMs fell when rates were raised, the fall was not as drastic as the PM haters would make you believe. We might see an initial drop in PM's if they raise in Sept. (I think they WILL raise in Sept. or the next meeting at the latest, then not raise for a bit), but shortly thereafter it won't be a bearish factor (as if we need more of them right now). http://www.silverdoctors.com/gold-in-fed-rate-hike-cycles/#more-57647 Just my opinion. Jim
Silver is still 250% higher than it was 10-11 years ago...where it previously sat sideways for a LONG time. I see silver sitting between $13 and $17 for 10+ years again. Sucks to face that reality, but that's how I see it. With all of the devaluation of the dollar(s), and the pumping of trillions of dollars to "prop up" government through QE...and silver is sitting at $14 USD? It doesn't make sense... Also, had you bought silver in 1980, you would have lost 66% of your money 35 years later. That's a BAD investment. That's a BAD hedge. That's just BAD. It sat under $10 for 16 years, and that was only 10 years ago. I'm planning on selling all 42kg's of silver this year..and, invest in something else (and, I mean, ANYTHING else). I'd hate to hold onto it...and watch is perform like Copper or Zinc.
lol, don't count on it. Silver has been doing the opposite of logic for years. I'm guessing LESS than $12 by Christmas.
I've never seen a US collector/stacker refer to their stash in KILOGRAMS. I guess there is a first for everything. If you think silver is going to $12 by Christmas, why not sell TODAY? I don't see the relevance of silver prices 10, or 30 years ago? The US national debt was less than half of what it is now, just 8 or so years ago. Silver is not a buy and hold forever asset if you are taking a large position relative to your total wealth. If 10-15%, then yes, hold as insurance. There will be a time to SELL and that time window might be rather short to achieve maximum gains in the future. Look at silver charts from the late 70's to early 80's, and from 2009 to 2011. That is what we WILL see again, but with an even larger move in my opinion. I opine many of the current BEARS, like those on here, will buy when it is too late and sell when it is too late, just like they always do. Then they complain and bellyache for decades and say silver is a bad investment. I'm glad that even on a PM site like this, there are tons (not metric) of bears. That tells me a bottom can't be far off. I remember similar types of folks saying they would be millionaires soon back in early 2011. Just my opinion. Jim
If you are serious about unloading, PM me what you got, I'll pay spot for some of the stuff. Let's talk since you're in the U.S. If you want out, I'm sorta getting in... Take some verification pics and lets make some deals.
I convert to KGs when on a forum that is mostly Australian or British. I spent a lot of time with people from both places while in Afghanistan and got used to it. We shall see. I may be selling sooner rather than later. It's a belief of mine that it will be sideways for a long time
