The probability is the house wins I tink (deliberate misspelling) We may be lucky enough to play black or red in sympathy with the table and we may not. So far I am down 30% all up mmmm red or black?
To knucklehead moron milo, stop lying again. Stating the fact, as I have, that silver and gold blobs are not money in no way equates to meaning these assets being worthless....they are not worthless...that's something you contrived out of thin air. Being of value to someone (holding value) does not equal being money, and silver and gold blobs are not money no matter how many time you fool yourself into thinking they are. Only an idiot confuses something holding value with it being money....they are not interchangeable. The only thing that is worthless around here is your pointless opinion. .
Reported. You are obviously just politically motivated because if you weren't, you would have first reported miloman's unprovoked, inflammatory, and offensive remarks: Poor Eureka Moments, exposed for being politically biased and completely not objective....no surprise. .
Absurd. Nonsense. ... are non-arguments. Widely Most people Most places ... are ambiguous conditions that aren't required for an asset to serve monetary role(s). Dollars, euro's, yuans, rubles, are as 'asset' as any product. The worlds population stores value in alot assets. Silver, regardless what share it has in the total, is one example of monetary use of an asset. You can claim a thousand times that silver isn't money, there are people out there, that make silver money by using it as such. Me included. Regardless which conditions governments, and you, declare or force. If you don't accept my money then I convert to yours or I walk around you to buy somewhere else. Applies to dollar aswell as euro aswell as silver.
The statement wasn't worthless, the statement was not money. As it looks like, he defines money as something that is forced to be accepted as payment (ie legal tender) by governments. But that's a kind, not a property, of money. To me, at first it appeared like he was denying those that claim that governments will declare silver legal tender / back their currencies with silver stocks. But apparently that wasn't the case, at least not in this topic, and despite highlighing that, the denial still goes on. But ohwell. I don't really care about whether my silver is called money or asset lol. What I do care about is that there are enough people out there willing to buy it (pssshhht accept it as payment). That's all.
That is all good news then! Hopefully nothing unforeseen is going to stop Silver from Skyrocketing one day! (pardon the pun )
There is little reason for skyrocketing relative to other prices. Put all the coins/bars stockpiled during the last decade together. Assume that all other factors undo eachother. 2004 -53.0 $6.6711 per ounce 2005 -51.5 2006 -48.7 2007 -51.2 2008 -187.7 2009 -87.9 2010 -146.1 2011 -212.6 2012 -139.3 2013 -245.6 $23.7928 per ounce. The stockpiling of 1223.6 Moz drove the price from $6.7 to $23.8. That's 71.5 Moz per added price dollar. 2014 cum avg is $20.18 so about 259 Moz sold again. 964.77 Moz left to go. Price depending on the amount willing to buy it. What happens on the mining side being just a second story. It's not the mining that brought the price trend, but the stockpiling. So will the de-stockpiling. What will we see now? The remaining 964.77 Moz sold over years, or again over decades? There are other parameters, but those tend to affect alot variables, so in real terms, not really sky-rocketing. Better focus on better purchase decisions rather than rocket propulsion in the sky.
If I am understanding you correctly, you are wrong Pirocco. An asset is not money or not a currency. An asset can be used as money or a currency but it is not at all by definition the same as a currency nor money. The big mistake you are making is akin to claiming that avocados and a dip are the same thing....they are not. You can use avocados to make a dip called guacamole but to say it is a dip is irresponsible and foolish in my view. Why gold isn't money.... http://www.businessinsider.com/gold-is-not-money-2013-4 .
Did I equal asset to currency/money? No I didn't. I said: "Silver, regardless what share it has in the total, is one example of monetary use of an asset". I said: "Dollars, euro's, yuans, rubles, are as 'asset' as any product." I said: "for an asset to serve monetary role(s)." I didn't say: "Every asset is money/currency." I didn't say: "Asset is the same as money/currency." I said that money/currency is a kind of asset. I even said: "Dollars, euro's, yuans, rubles, are as 'asset' as any product. Is it that hard to note the difference? Yellow, is not the same as color. Not every color is yellow. But, yellow is a kind of color. Money, is not the same as asset. Not every asset is money. But, money is a kind of asset. Silver, is not the same as money. Not all money, is silver. But, silver is a kind of money. Why? Because enough people use it that way to give it a market/liquidity that way. How can one then deny that silver isn't money?
There may be a lot of variables that will affect the future price of Silver. Who knows which ones and what the future holds for it? I don't. I just hope the long term future of Silver is set to Skyrocket!
In real terms? The same variables as in the past. The same variables that apply to alot if not all products. I don't hope for a skyrocketing silver price. What I wanted, and still want, is a trend that is better than the one of my previous bank savings account. The 'mere' ability to buy back, what I produced. Those that hope for Skyrocketing, usually end up in the fall-out umbrella of an explosion instead of sky and heaven.
Pirocco, I'm looking for a good long term investment and Silver seems to be one of the safest ones that I can see but I am no expert. I'm hoping Silver prices will stay low for the next year or two so that I can stock up. Then I hope in a decade or two the price of Silver should skyrocket and stay there. At least that's what I'm hoping for. Buy low, sell high is my plan.
I didn't 'invest' a thing in silver. I replaced saving on a bank account with saving in silver. Investing is putting means into production as to increase it. The dead silver I buy now will just be the same dead silver I'll sell later. Just like the same dead euro's I saved X years ago where the same dead euro's I replaced with silver during recent years. I didn't save in euro's as investment. The very same applies to my silver coins.
The most sensible post so far. You are right and the Alchemists tried to do this long ago with gold. Modern day alchemists trying to create an element from another? Maybe in the distant future but by then it might not be needed anyway.
