So, it's close to about 10 months since I made my first purchase of a silver coin as an investment. Shortly before that moment, I'd been reading and mostly watching videos of guys proclaiming that in the closing months of 2012 and the first half of 2013 that we would see silver and gold bust out new high levels. They were all wrong because we are nearly half way through 2013 and silver is teetering on slipping lower than $20 / oz. Fortunately, I didn't bet the house on silver when i first got a consciousness about fiat and precious metals in spite of all the tempting super hype by the perpetual permabull choir. The lesson learned: Resist hype because there are shady car salesmen everywhere in every market and amongst the world of precious metals investors and stackers, there's no shortage That said, I believe that I am better off with the knowledge and bullion and coin purchases I have made as a result of some of the hype....so thank you for the screaming sales pitches, permabulls!
Well, maybe if they weren't hyping it you would never have taken the first step. Anyway, 10 months ago wasn't the real hype, you should have been here when silver was in the $40s and rising, or when the Perth Mint Lunar Dragon mania was on, or the last time there was a 'shortage' or the time when...actually, there does seem to be a lot of hype associated with silver.
Lizard, I suppose you're right, I didn't come into this at the worst time...still, I remember seeing spot at about $35 around the time I started and the permabull hype was in full effect. Even in late 2012 there was still stacker mania going on around the Perth Dragon (what i call the ugly dragon). I think a lot of people over paid for it because they got sucked in by the hype. You can pick one up on eBay it seems for under $40 for the 1 oz ugly dragon these days. Even the 2013 snake fetches just about as little.
I remember when 10oz bars were selling way above dealers prices here on SS. Crazy considering the dealers had them in stock, and readily available!
What's your prediction on Horse's? Is this going to be the same as the other Lunars with frenzy and higher initial prices?
Other than Tiger, Dragon, and perhaps Rabbit, hasn't the Horse been quite popular with Lunar collectors? I'm new to all this so I can't say I remember or actually know.
A probably very recognizable story by many newcomers in recent years. Your story started 10 months ago. You saw the hyping and it tricked you into buying at those prices, the very goal of that hyping. The best examples are Zerohedge / SilverDoctors - whose articles got copied over the entire PM scenery, by experienced that sit ready to sell. 10 months ago means somewhere in summer 2012. In which case you must have bought when spot was $26-28, maybe $29. The hyping then was even nothing compared to march/april 2011, with my story starting a month earlier, when I bought most of my silver in a week, when spot was $31-32. The only thing I knew then was that I should never buy above $32, because I used the tripling of the monetary base of the USD and an average price in 2008 of the weeks before the start of the dollar creation. I was surprised to see alot on the Kitco company forum calling for $100 and more, a tenfolding of the 2008 price. Silvers price tenfolding without even the dollars created to cause just a 4 folding of general prices. That steep price uptrend became even crazy in april. In the last week, every single DAY added a dollar. Yet, the hyping just went on, like that was.. normal. There is nothing to make that better clear than actually showing an example case, with topic titles, a deja vue of that period: $38 https://www.kitcomm.com/showthread.php?t=79452 04 april 2011 "Great way to start the week......don't you think?" $39 https://www.kitcomm.com/showthread.php?t=79517 05 april 2011 "39 ...One more step up the ladder" $40 https://www.kitcomm.com/showthread.php?t=79723 07 april 2011 "Thursday..............Yet another up day" $41 https://www.kitcomm.com/showthread.php?t=80243 13 april 2011 "Hump Day...........Up Day" $42 https://www.kitcomm.com/showthread.php?t=80318 14 april 2011 "Killer Thursday............Movin' on up" $43 https://www.kitcomm.com/showthread.php?t=80419 15 april 2011 "A Fabulous Friday............Great Finish For The Week" $44 https://www.kitcomm.com/showthread.php?t=80679 19 april 2011 "Monday.........Up Up and Away" $45.5 https://www.kitcomm.com/showthread.php?t=80932 20 april 2011 "A Whale of a Wednesday............45+" $46.50 https://www.kitcomm.com/showthread.php?t=81069 21 april 2011 "A Thundering Thursday...............Look at that puppy go!!" $49.50 25 april 2011 PEAK 1 - FIRST PROFITGRAB $45 https://www.kitcomm.com/showthread.php?t=81462 25 april 2011 "Monday Mayhem.............Y'all survive? Monday Mayhem............Y'all survive? What a day. Actually, not all that bad. The long term trend is still up. Just a minor bump. A "little" more volatility than usual." $46 https://www.kitcomm.com/showthread.php?t=81576 26 april 2011 "A downturn of 2 days or 2 weeks is not significant in the over all scope of things" $49.50 28 april 2011 PEAK 2 $48 https://www.kitcomm.com/showthread.php?t=81937 29 april 2011 "Silver..........Something to consider" $44 1 may 2011 SECOND PROFITGRAB $33 https://www.kitcomm.com/showthread.php?t=81423 6 may 2011 "Silver...If you are never going to sell, what benefit is it to you?" See the last topic? Notice how BEFORE spot was dumped back to $33, he's like a balloon covered with positivity stickers. At $48, close to the peak, he even says that silver is something to consider, as like people that were hesitating, should consider buying then. Notice how AFTER spot was already dumped back to $33, how he starts (!) to talk about selling. Aboves example case makes very clear what is going on: manipulation of people, misleading of people. Trick them into buying high. GRAB THE PROFIT Trick them into selling low. BUY BACK IN And this was a person that was considered by nearly everybody on that forum as a professional. Before and after. Says enough, doesn't it? Now let's move to another persons case. It was a newbie that bought then silver for the 1st time and joined the forum 2 weeks later, on 1 march 2011. $43 https://www.kitcomm.com/showpost.php?p=1307963&postcount=26 15 april 2011 $45 https://www.kitcomm.com/showpost.php?p=1315746&postcount=26 20 april 2011 Now, how comes that, in that late part of an insane price uptrend, a professional showed positivity in numerous topics, and a newbie showed negativity in a few "maiden forum trip" posts in couple threads? Hint 1: 1 word. Hint 2: it starts with a capital 'M'.
It is sickening to read the gloating and what appears to be callous indifference. Blessed....yeah, blessed at the expense of those who are being duped and misled..... "these past couple of months (weeks) have been outstanding. We are all making so much money.. we are truly blessed!" I'm all for making profit....but not by hook and crookery and then gloating about it.
To mmissing link... Most will not agree with me on this but I will say it anyway.... Forget about the fiat argument....forget about the evil Fed...forget about JPM shorting the moons weight in silver.... Silver is a market, the same as any other tangible market and there is a time to buy and a time to sell. The time to buy is close and the time to sell will become obvious in time. No singular entity can control the market continually....short term yes...some of the things we read are true but they are not so in control of a market that they determine the highs and lows at our expense. If you don't treat silver as a market you will end up holding on too long and end up like those who did not sell in 1980. Silver and gold are not the answers to all economic woes. They are simply protection from government mismanagement. A properly run economy has no need for gold or silver. I am not saying that things aren't wrong in the world. You may have bought a tad early but the bottom is not too far away. There is quite a bit of lamenting going on at the moment which is a good sign. Just wait until you feel like vomiting and you will know the bottom is complete. There is hype everywhere but try to look through it.
Silver is a metal. The people buying/selling it are its market. A market is a situation where people are trading with eachother. Trading is exchanging your goods/services with other peoples goods/services. A situation where people try to mislead/outspeed others in order to have something for nothing, where vomitting has to signal moments to take decisions, isn't a market, it's a thievery place. The same thievery as committed by governments and its parasiting interest groups. Treating silver the same way, makes one not different. An economy doesn't need to be run / managed. It runs / manages itself. As an equilibrium origining from the numerous decisions decentrally taken all over the place. An economical crisis / depression / detoriation, without events happening beyond peoples control (natural disasters) explaining it, is a result of large scale thievery. And when it happens worldwide, it implies near to total control, by singular entities. Silver and gold are indeed no "answers on all economic woes". Because this ignores the price.
Lot of truth to this. The fiat argument and evil Fed actually does exist, but you can't justify buying gold or silver at any price because of these arguments. They are, in fact, a market. In America, at least, there was a TON of hype involved in the PM markets in the years after the housing crisis. The fiat and Fed corruption argument fueled PMs into a price that wasn't reasonable, IMO. When there's fear and blood in the streets, buy. When sentiment is good and everyone is dying to buy in, be poised to sell. Silver is a market, as you previously said, and all markets have their good and bad days. All in all, if in long term, then silver will outpace the dollar in buying power at a minimum. I think there is far more upside than many believe possible now. That's why I'm buying into the game. If silver falls to 15, then I have to put my big boy pants on and keep emotion out of it. That's when you buy even more, if you have faith that it will be a good mid-long term investment.
BTW, I submitted my post and forgot to add that I'm new to the forum (and stacking). I hope everyone doesn't mind if a Yank hangs around from time to time. I did some research on this forum before I bought in, and I felt compelled to join.
Morning all, Forget about the fiat argument....forget about the evil Fed...forget about JPM shorting the moons weight in silver.... Silver is a market, the same as any other tangible market and there is a time to buy and a time to sell..." Whilst I agree that to treat pm's as a market for buying as a good idea - ie. entry points etc. - to say forget about the fiat argument, evil fed, debt situation - I can't agree with that at all as far as stacking and insurance goes. That would be like saying don't worry about your 16 year old kids spending on your high limit credit card. All seems calm whilst the spending is going on. Nothing bad appears on the surface - just a few little numbers appear once a month. - until there is a bloody big elephant sitting in your lounge room that just won't go away. Eventually, that elephant must take a crap and it is far too big to get out the door. The end result must be that you end up covered in shit - it is just when, not if, when. Ask someone in Cyprus if they would have been unhappy to transfer say a quarter of a mil. Out of their bank and into gold at $1600 - or silver at $28 or so. That is the point, you just don't know when the elephant is about to dump. What you do know is the longer it waits, the more shit there is going to be. Personally, I wouldn't beat myself up for buying silver at a higher price than it is now. Timing for buying anything is always hard and when entire governments are saying many of our largest financial institutions are corrupt and running the show - how, for the love of god can you pick it right without a crystal ball. Rest assured, most of the game is rotten. Your cash can and has been grabbed one way or another. Property is easily confiscated or taxed. Stocks can be wiped out in an instant and efts are a bit of paper. Your gold and silver are safe if you have put thm somewhere no one else knows about. It will always be that way.. Don't get mentally ground down by these pricks - they are just kicking the can further and further down the road. Giving your teenage kids your credit card has nothing on what is happening every day all around us - you just don't see it easily. Have a great day all Gazza
