What you are watching is the weakness of the bankers cartel being exposed. Gold and silver represent antimoney. The more attention they are giving POG and POS the more important we can tell it is to them to NOT have a high price. Trouble is people -know- gold and silver is valuable. Even at a mundane level the average Bruce know that rings and jewellery are made of these metals, so they are valuable. If you are still watching your spreadsheet, I suggest you close it. I close mine last Thursday, and it hasn't reopened. I know just seeing the 'number' will give me heart flutters as we will ascribe our success or failure to the number we see. What we are seeing however in the markets is overt price manipulation that will only serve to create a better fiat to precious exchange rate. This will only create better accumulation grounds compounding their problem(such as the COMEX no longer receiving metal from mines any more.) My advice, look on those prices like a hawk on a fluffy domestic rabbit. Make your pile bigger. Depending on your position, now may be the time to refinance your house, get a 6 month interest free credit card, call in money lent, sell the unused quad or trail bike, boat, etc. NOTHING in the world has gotten better, No problems have been solved, and situation worsens and the only people who will benefit from this chaos are the carpet baggers... Thats us
Just ran through my checklist Ben still chairman. Check Eurobonds on the way. Check Deflation bad for banks. Check Deflation bad for Govt. Check Most of the western world at ZIRP. Check Fiat still buy PM's. Check Still Buying. Check
Just because deflation is bad for the banks and the government, what makes you think they can effectively combat it? So they print hundreds of billions. Big deal. The debt being written off globally is triple digit trillions.
Exactly! The only question is which scenario will they choose. My money is on inflation over deflation, The current market action is designed scare the public into embracing more government and central bank "intervention".
I just love how you blokes say you're backing up the truck. It's hilarious. This dip is a mini-disaster for me given I had planned to sell a sizable chunk last week to finish my home reno. My buyer, god bless him, told me to wait til this week as there was a glut at the Melb-based buyer... Someone knew something! I'll just have to hold onto that which was to be sold and raise cash some other way. I do still have two kidneys and three sons...
Okay, we are just talking past one another. They don't have the choice. They have spent their ammunition. You cannot solver a debt crisis with more debt... only with: a) defaults on debt b) restructuring of debt c) bankruptcies caused by debt Make your own conclusions based on that, but I know what it says to me.
Very interesting to see people's reactions as the price falls. Reassuring ourselves that when the price of silver hits $10 it is a perfect opportunity to buy more. None of us know what will really happen. Maybe this is it. Maybe it isn't. The last thing I am doing is valuing my worth in the silver, gold or house I own. Yeah I own silver, but at the end of the day, it is those people who don't let their wealth own them who are able to weather any financial storm. Choose your armor carefully.
Sorry should Keep the cheerleading at bay, but people stack silver for different reasons, Silver is my super and I have a 15-20 year time frame. Still just a bub. I have a figure in mind as to how many ounces I want to accumulate, hell if I knew with the certainty of some on this forum as to which way the price was going I would be making a killing in the paper market. Alas I'm just a dumb stacker so I will let time smooth over my mistakes.
I suppose looking at central banks, They may have spent most of their ammo, but government MMT types will be running the ruler over just how much stimulus will be required to avoid deflation, Plenty of jobs building the new bridge to New Zealand!
How will that work? Once again, you can't fight debt with debt. This hyperinflation nonsense is a fantasy.
I hear you, but I don't understand fully... yet, I am sure you have a reason(s)/theory in mind (of why Hyperinflation is a fantasy). I'd be most appreciative if you have a moment to share?
I hear ya unlike at kitco... everyone over there is panicking and all butthurt over this drop. I swear someone jumped off a building from that mob this past week...
