Latest FOFOA article on silver can be found at the below link. http://fofoa.blogspot.com/2011/05/costatas-silver-open-forum.html It is quite a long article but very interesting to say the least.
Interesting read... A few key questions were asked in that article such as: Is there really a shortage of Silver? Are you holding the right thing? Why the need for Silver if Gold is the only important store of wealth? Is COMEX really that influential? Does Silver really have no alternative in industry? Are you sure you know better than Perth Mint/Buillion Banks about the silver supply? And a lot of interesting links which highlights the evil bankers; stuff I never knew haha Some interesting stuff overall, a nice jab to the SLA loonies but then again he says that ASE's have been in record demand. No idea what to take out of this article really; it's very balanced and talks about both sides of things
I know I am holding the right metal GOLD ftw. Even though its boring as bat shit atm I enjoy it more than silver. LOL @ silver lib army, thats so lame.
Yeah I find them to be a bunch of batshit crazy loonies giving us silver stacking folk a bad name. Almost everybody has an agenda or a bias and even more so when talking about commodities such as Silver; really hard to get any good information online! One thing's for certain though, that US debt isn't going to just go away that easily and physical silver looks nice
US debt wont go away but will probably be replaced by a new "currency" Imo we need a fiat system of currency backed by some kind of hard commodity etc, dont think silver will work here though. When I first started stacking I used to listen to all the youtubers and all the so called "experts" now I just do my own research and dont take anything what these guys say as fact.
Same. When I first started stacking I assumed the people I was listening to knew what they were on about. I blindly believed the statistics that people threw around. Like silverfunk, I now do my own research and I'm sorry, but anonymous blog posts are opinions of largely anonymous individuals of differing motives, knowledge, skin in the game, experience and understanding.
The issue for me is when silver finds it's true price. Not its "suppressed" or it's "speculative mania" price. This of course may never happen. What I do know is that one of the top 3 most important industrial metals, which is also rather rare is only selling for around $35.00 an ounce at the moment. I believe that this is too low and does not reflect (pardon the pun) it's true value. We are witnessing the middle stages of the collapse of the world's reserve currency, and some US cities are bankrupt and there is even talk about bulldozing a large portion of one of them. The Euro is shaky. Fiat currency is shaky. Gold seems to be the safest place apart from owned (not mortgaged) property. There are a lot of opinions flying around, personally I prefer to sit on silver for a while at this point. My comfortable maximum exit price has always been $70.00. After that I would regard the price as mania unless I saw other good reasons for that price point being reached.
Not too sure but the general SS member doesn't go around preaching BUY SILVER; END OF WORLD IS NIGH; BUY SILVER CRASH JPM etc I guess our aims are similar in that we would both buy physical silver but I think the similarities end there lol. My end goal would be Gold not Silver. Silver is just the means to Gold; not too sure about other SS members.
Even if gold is an endgame for me, I wouldn't bash silver. Gold and Silver were ALWAYS somehow working as the same thing, in the same time. Be it a store of value, medium of exchange - you name it. Sorry, but as much as I like FOFOA he's making gold as some sort of deity that should be worshiped. Other point, is that he doesn't accept the fact, that there might be more than 1 winner: gold; and there will be. ANOTHER's points about gold were mainly on international/geopolitical scale, NOT on common folk everyday struggle. Sorry to say but silver was always a workhorse/backbone of any monetary system backed by gold. Saying that silver is poor man's gold was and will always be true. Gold becoming worthless due to silver? Cmon. Thats the best opinion I found ever, regarding Gold and Silver:
Very interesting article. My endgame was always gold too, and fofoas message seems to a amount to 'why bother with silver when freegold is the windfall?'.. While freegold makes perfect sense, betting the farm does not. Based on the work of people like TRAC and Martin Armstrong, i think the real crisis is still a few years off. My game plan is to watch this year closely and move out conservatively.
Interesting article but it should be balanced against the actions of guys like Eric Sprott ("silver the trade of the decade", "there are genuine shortages", etc.).
But that is basically what is being said... silver is just a trade ... while FOFOA sees gold as the central component in a global wealth/currency transfer/movement they are calling freegold. They dont really bash silver, just ppl who talk silver up as some kind of gold that no one knows about lol.
The most interesting thing i got out of it was the comex has 5% & the perth mint has 10 % thats a real eye opener for me
re: "Are you holding the right metal" This perplexes me. Deep down/emotionally I agree that gold is king, but why is this a binary gold OR silver thing? I don't have an answer for why, and it is bothering me because yes, if you have something that perfectly fits a monetary role, why would you need silver? This might not be a good argument, but why would you need coal if you have oil, or oil if you have nuclear... Think...British Pound STERLING, Chinese YUAN (silver in mandarin?), US SILVER Dollar, Roman Denarius, etc - all demonstrations of the use of silver as a monetary metal. The past monetisation of silver happened. Why was silver monetised in multiple instances in history and now it is suddenly impossible to perform a shared role with gold? What is the difference now? IMO, the gold as the ONLY real money feels like narcissism to me.
This book will be of enormous help in answering those questions. I've linked it numerous times but I seriously doubt more than a couple people took the time to source it. Much easier searching Youtube for confirmation bias http://www.amazon.com/Power-Gold-History-Obsession/dp/0471003786
Its a good article to take into account, it has made me question that the perceived shortage in silver is really a true shortage or an artificial one at the mints/refineries created by the big players. It seems very important because it would be one of the main reasons for the argument that the physical market will set the price in the future Anyone have more info on this?
