To me, nothing has changed worldwide! I see a currency crisis, I see manipulation, I see Central Banks going after ("little-fish-countries") gold or attempt to get their gold. I see the Asians buying physical hand over fist. To me, the physical knee jerk reaction, to a kick in the balls, (drop of $84) is all the weak hands who have borrowed money to make a quick buck. The Margin Calls are screwed. Those of us who couldn't give a shite about short term reactions of the market are sitting back smiling and waiting for the speculators to fall like dominos. And the comments about selling!!! Who could even be bothered selling metal! :lol: Yuck! We don't care because we buy metal with cash and we have cash reserves to pick-up metal when it's over sold! Just tell me what has changed? Nothing!
Been buying the dip the entire trip down as I can't time the bottom. We may have already seen the bottom maybe early next week ? Who knows but prices are great right now so don't be shy...and buy.
Unless you're desperate and need to sell, it's really just an unrealized loss most are thinking of. The 'weak' hands may be overextended so understand their panic but guessing they were more in it for the short-term speculative side. I made a commitment to PM's and I'm sticking with it as the upside looks far too promising. What annoys me about these drops is that while most SSer's are cognizant of the many schemes and scams perpetrated by the Gov, banksters etc and we have our own little <1% club, it's the fact that the ignorant Joe Soap that has left his fiat in the bank for the last 2 years and doesn't have a clue about anything going on in the world has probably fared better than a lot of us who have bought physical. Bah! But it's when the Joe Soaps wake up and realize what exactly is going on and starts buying PM's, that's when we'll be sitting high and mighty with our smug grins
You are the second stacker that mention this today...that supply will dry up...especially if this is the bottom of a long rally back up to low-mid $30. Good too see this little positive tought.
I'm somewhat amazed at how the physical supply (in Australia at least) has stood up the last two weeks. I was still able to lock in a substantial amount of silver this morning with no expected delivery delay. Volumes have been through the roof, and so far nothing is really on any sort of delay except for 100oz silver bars which are just waiting for their scheduled production slot to roll around to get supplies going again. Right now our biggest headache is simply running out of some items knowing that replacement stock has a two week lead time etc, or thinking you've ordered enough stock of a particular item, to have one person walk in and buy the lot the day it turns up. Monday will be interesting, and if there's going to be any tightness in physical supply, I think cracks might start showing this week. Expecting ASE/Maple/Philly premiums to have another hike on Monday night when the US starts trading again though.
http://financialsurvivalnetwork.com...t-miles-franklin-has-busiest-day-in-26-years/ Andy Hoffman is commenting on supply, shortages and premiums. Will this happen soon in Australia ?
Funny that just had some myself and it was the real deal. Love my local takeaway. They make everything.
Back on topic. I'm holding out till Monday or Tuesday If gold spot rises $10/15 ill buy, if it drops more ill buy, if it mover sideways ill sit and watch till it does move. Same for silver but the dollar move will obviously be smaller. Something like $1.20
Did I say you could post fishy Crap on my thread? (Sarcasm) If you are going to post crappy fish posts, atleast you could post Gem Fish! :lol: Silver gemfish http://www.dpi.nsw.gov.au/fisheries/recreational/saltwater/sw-species/gemfish
This is easier said than done, when the wife has a different opinion and wants to cut losses. By the way, I don't buy this whole silver shortage argument anymore. When people were buying like crazy when silver went to almost $50, was there any shortage in physical silver? No! Now that people are buying like crazy when silver is going down the drain, is there any shortage in physical silver? No! See, what more proof do you want!?
I can understand your position and it's frustrating to see your stack drop in value. Maybe a way to look at it is, most tangible assets are currently valued in some way by fiat money. Since mid 2007 when the equity markets started turning, private debt was transferred to corporate debt via sub-prime credit default. Which resulted in corporate debt (Lehman's, Bear Sterns, Washington Mutual, etc) defaulting throughout 2008. Which in turn was transferred to government debt via bank bailouts. We're now seeing government debt default. It's all been a pigeon hole moving exercise, without any real solution. Once the reserve currency (USD) reaches the point of government revenue (taxes, duties, etc) exceeding government interest cost, on an annual basis, the game for fiat money, as we know it, will be up. If interest rates were at realistic levels we'd already be there, but the Keynesian dominated pollies are doing their best to keep the wolves away. Once we reach this point, hard asset currency should dominate and that's when you'll see the real shortage. It's what I think most of us are stacking for. In the mean time, we need to ride out the waves. However, if we structured out stacking correctly and hedged with CFD's or XAG/XAU futures, we wouldn't care where it dropped to......When the AU/AG bulls come back, and they will at some point, you close out your hedge and leave your physical position run in money. I stand to be corrected, but that's how most of hedge funds run their positions.......
