So what is "intrinsic value" then? If silver doesn't have it, then neither does gold, perhaps even more so since surely it lacks "utility" value to the extent that silver still possesses. What then does possess "intrinsic value"? What possesses value effectively "in it's essence"? I would argue that it is in the very "utility" of something that "intrinsic" value lies. Things like "food", "shelter", "clothing" - beyond these essential utilities surely all value is only "agreed" - a mansion only has value above a hovel in that it has greater visual appeal and is therefore more "desirable" ("valuable"). I have had a lot of people sling off at my car saying that it has "no value" but I would argue that it has the same/similar "intrinsic value" as a Rolls Royce - if I wanted to I could go to Adelaide in either tomorrow, more or less as equally well - it is the "utility" of each, i.e. its ability to transport me, in which its value to me lies. I don't think I could sell them for the same monetary price, though, since we would be in the realms of "agreed" value.
20 years??? Silver was $4.50/oz 11 years ago. The price of silver increased by 3 times higher in 11 years, while inflation during the last 11 years was what? Maybe 30%? So why should silver go up by 300%??? The inflation-adjusted price of silver would be 5 or 6 $/oz, not 15!
Seems lots of people are finally realising that silver peaked in 2011. The current bearish talk does suggest a bottom approaches, but I doubt if it's in when US stocks are close to record highs, I'm still patiently waiting for GFC2 The added problem is that silver could yet go sideways at sub-$10 for a couple of decades, this wouldn't break the laws of physics. Feel a bit sorry for those here that have lost more (real) money than they could easily afford, but I guess if it was easy to get rich then everyone'd be rich, live and learn, good luck in the future.
One can drive without gold, but one can never drive without silver. You will get arrested. (Nightmare when your mirrors get stolen) Look at the mirrors and side mirrors :lol: Silver is not a perfect hedge against inflation, so why the need to misguide people into believing it as such. This has been proven all along, that silver is just like the moon, it may from time to time reflect us some night light, but never always. When we seen it cost just 0.50 cents to pump the oil out, it should not be costing us so much more than that price for a barrel of oil, unless the barrel is costing 70+ dollars There are people dictating prices, same as oil as in metals. How can an ounce of Canadian maple be costing for lesser than its face value??? This would create free money.
Yes, why tell people stories about silver being rare, costing this or that much to extract, having 1,0000000s of uses, etc. etc. etc.? The problem is that people who are too lazy to verify these stories end up believing in them, buying lots of silver, and then resisting the speaker of common sense (ME! ) and ridiculing when I state the obvious (the price of silver has increased by 300% over the last 11 years, while inflation has been of 30% or something). I feel sorry for the people who believed the hype. But then, everybody is responsible for his own life, right?
everyone seems a bit on edge around here and for good reason, it costs what it costs today and will cost what it costs tomorrow, remember not long back it did a big drop to 22 $ dealers were in a panic and silver was hard to get wait times on PM 10 oz bars etc... people were buying hand over fist wonder how they are feeling today ? so on this drop no one is panic buying and dealers have plenty of silver but premiums don't reflect the price drop for the most part so lots of people hurting right about now if they have been buying over the last 4 years they are losing money. its that simple. so how do we recover from this drop ? white knuckles and prayers or sell now and get out or buy more and say some more prayers? which ever way we choose to look at it it sucks for people holding silver purchased in the last 4 years.
buying for the wrong reasons, and having mistaken expectations. = life nightmare. silver is fine Ignorance = STRENGTH war = PEACE freedom = SLAVERY
For the poor suckers like me where extra charges such as 20% vat apply to your silver purchases. Wait there maybe a silver lining! Let's say (If) silver is also revalued up with gold that I do not know. Let's say you have managed to buy near the bottom or dollar cost averaged down pretty well. In this scenario if your physical silver vat bill was 1000 or whatever. Then imagine how much more the vat bill will be for the same amount / weight of silver. Still I am half alseep and need another coffee to wake up so I wouldn't be at all suprised to find that someone can find a major fault with this reasoning. Happy days
why is this a nightmare????? So many on this forum boasted about being a stacker. Well stack away. Its been getting cheaper and cheaper and cheaper. There should be so many happy stackers on this forum.
No its not. The stackers said when it gets cheaper they will buy more because they can buy more with fiat money. So no I am sorry, for this forum its not the question. unless of course there were far too many try hard stackers in this forum For myself, I am a stacker with patience. But the season for stacking is approaching, but not here yet. I only buy when the season is right.
lol i simply love your post. You have been stating such posts far how long now???? Lots of fiat money been lost, lots of try hard stackers who have lost a fortune (in fiat terms). Lots of future money and physical silver coming my way. But not yet. My ammunition is still dry.
Anything is possible, you can imagine. But, for a while, it will continue to fall. If things will go similarly bearish in 2015, I expect silver in the 10-11 $ range.
Those who are having nightmares are the ones who bought up the metal and stacked it in every empty corner. If you have a ton of fiat to buy PM's with now, no worry - just stack on!
Easily....the number minted on any coin is a nominal number and the price of silver will continue to lose value because that's just what commodity prices do half the time.
The problem with that line of reasoning is those times when stackers are forced to sell some of their stack unexpectedly; such as needing to pay for unanticipated medical bills, lawyer's fees, or any of a hundred and one reasons. A stacker could have started stacking in 2012 and got injured on the job in 2014 and is now having to liquidate some of her stack just to pay the mortgage or whatever. Generally speaking, silver is definitely a high risk way to invest one's money as we have seen over the past 3 years. Some talk about the stocks losing value....ha, silver isn't any different in that sense. Sure, just like your silver, stocks can recover value...the point is both are highly risky in spite of the nonsensical rhetoric by permabulls. Anyone wants to buy my pretty seashells...just like silver, they're money, you know? .