To all you new stackers and other maybe nervous stackers, now is the time to grit your teeth and add to stack or simply delight in looking at the number of ounces you have and realize that it is the same weight as last week and last month,(and add if you can) and then think hard and long about the reason why you are stacking. This period is similar to August 2008 when all commodity prices, especially silver and gold, were hammered down. The difference this time is that the 'half-life' of these purely orchestrated, manipulative takedowns is getting shorter. You only have to scan the headlines to know that governments are getting desperate : "Gold Bubble Burst", "Buckle up for the Apocalypse" " Banks can absorb Shocks" "G20 eases Panic" What they are all trying to say is that there is not a damn thing they can do about it as they have manipulated the system to the point that it is unrecognizable. This is the headline that you should be reading : http://www.zerohedge.com/news/five-...ivative-exposure-morgan-stanley-sitting-fx-de Those who know this are stacking !
I'm actually expecting a much longer dip in commodity and PM prices than in 2008, not shorter. Is this the beginning of it? May well be. Over the course of the coming decade PMs are rock solid of course, but their nominal value could plummet (though significantly less than stocks). Even if their dollar price drops or stagnates right here they might well be more expensive by the day. Not sure this computes well with many though who are simply looking for a big dollar number like $500/oz.
Trichter, I agree with you - there's a fundamental value in PM's that outweighs all other. As a relatively new stacker, I don't necessarily understand all the "big picture" stuff insofar as what X event will affect Y etc. I know this much though - PM's have withstood the test of time over thousands of years. A stacker (especially of physical) has to get their mind around "long term" - that isn't weeks or months, it's years. I'm also beginning to learn that perhaps looking at your stack and thinking of it in terms of a fiat number is pointless. More so for silver than for gold, and here's why I think this; Silver, I am convinced, is worth more per ounce than we are currently paying for it. It was worth more than it's price even before the correction earlier this year. The day will come where both metals will return to their true value, in whatever measure you want to compare them to (be that goods and services, or other commodities). I believe that at that point in time, whilst both will correct themselves in terms of their equivalent or trade or fiat value, Silver will do so doubly - not in numbers, but in terms of number of "corrections" so to speak. Silver must first regain it's true value against Gold, accounting for it's scarcity, and then it must correct again to reflect the actual amount we (mankind) actually holds (both in ground and usable above ground). It's a hard concept for me to explain in words - but long story short, I see the "gain" of Silver to be greater than that of Gold. Please note, I'm not advocating one to hold only Silver, both metals have their place, and different purposes in ones stack - but when one looks at the numbers, and the fundamentals, therein lies what I see as being the future of these two metals.
I agree every time there has been an artificial boost to the $ and a take down of PM the impact has been less and less and so has the duration before the PM prices pick up again. With a Greek default almost certain these are very unstable times and lots of asset classes will be hit. This is a ploy to get Ben to print up a swag more cash and within weeks they will be begging for QE. The best thing is to buy on the dips if you have spare cash otherwise sit on your hands. I don't see this taking long to turn.
i'm a new stacker myself. i made a significant purchase the other week with the intention to just sit on it and actually ignore anything to do with silver for a long while. quite hard to do. anyway i was pretty heartbroken on friday night but it is reassuring to hear most are generally unconcerned by this recent turn of events and will continue to sit/stack.
I've always said stacking is about preservation of wealth rather than creation but if you have a few wins along the way good luck to you!
Eh, I consider myself a newbie in these parts, I can only find receipts going back to 2007 ;-) Like most, when I started, I kept an eye on things daily. I happened to manage to actually forget about it - for near 4 years. Picked things back up earlier this year when I happened to see a price near $45/oz (I'd bought from $14 to $18). Got involved again, and started (after the correction in pricing earlier this year) to add to the stack again. As others have said, the fundamentals are there, you're here (I believe, reading your words) for the long haul. This is good, yes When price goes down, listen carefully. The beeping you hear is other stackers firing dry powder and backing up whatever trucks they can get their hands on to load up more shiny - take advantage if you can! The day will come where you look at some items in your stack (this is true for me already!), and you will NOT remember how much toilet paper fiat you swapped for it. Rather, you will look at the (say) 1Kg bar, and in your head, you will grin, knowing it's 32.15oz of .999 Ag. And that will give you more than enough cause to smile... no-one else on your street, and maybe in your whole suburb has the financial security and independence that 1Kg bar and the other items in your stack will give you.
+1 to all of the above. For those new to the game it's a good time to sit down, take stock and work out why you're here in the first place. If you don't have any leverage hanging over your stack, it's 'value' in paper doesn't really matter. I don't have a lot at all, but all that I have is 100% debt free and doesn't require 'gains' in order to be a valued investment. Just simply maintaining my wealth is all I ask of it over the long term, even if I have to hold the stuff for life and pass it on to the kids. Sleep well...
I'm not sure that this 'correction' is less than April/May. A $10 (approx) drop from $50 to $40 is 20%... A $10 drop from $40 to $30 is 25%...
Not trying to be contradictory, because I don't want to be one of THOSE people, but I believe when there were margin hikes last May it went from 48 to 34, which after all is said and done here, it will look like peanuts
Waaaaahhhh!!! Of COURSE the price of silver crashed today. I only just bought my very first 10oz bar last Friday. Who's the person who has "buy now, cry later" as their signature? Yep, that's me :-( Sigh. Off to buy some more now
This is so dam true - Equities will out perform the bullion like every other time in PM bull markets - it may just take longer, but one thing is true, there is no mania yet - so we haven't hit the 3rd phase yet.... Im hurting today, not because of the correction but because I have no capital to buy more shares at these HEAVILY discounted prices - choose your equities carefully - you dont want to be in the right sector but choose a dud horse!
Remember the AUD had a correction as well - so its going to cost more Aussie dollars to buy an ounce than in the same correction with a stronger aussie dollar. If there was no correction in the AUD silver would have hit about $28 or $29, not $30 or $31
I am also a newbie to stacking but I am sum what excited about the drop in the price of silver as I do see it as a way for myself and my partner to protect what little savings we have, and +1 to those of you prepared for the long haul because that is my view. We have only so far stacked minted 1oz coins (silver) but some one the other day suggested buying "junk" silver or pre decimal silver coins also I would love to hear from anyone with advice on where to buy junk silver and whether there are many people selling pre decimal coins. I had a look on ebay and the prices mostly seem over priced???
It takes a few trips on the rollercoaster to anticipate its effects, but here they are: Source: http://www.silvergoldsilver.blogspot.com/ Can you guess where we are on the emotional curve?
