@BM - today a chanche to see dow lower than 16k - are we already in your area "nose dive" Dow on a longterm "salami" crash ?
I was hoping more for like Dow 9000. Joking around aside, I'm not looking to get into a trade, or even a position, but instead to acquire silver for the long term so when I say I'm waiting for the equity market to nose dive I really do mean like bottom out in a significant correct, not just blowing froth off the top which is all that has happened in these past few weeks. I'd like to pick up a little here and there from about 14$us/oz and lower, but I would want to wait until people are capitulating on the downside before really making a trade.
To say that another way (and again, make another post because there's no freaking edit function) ... I think the Fed and the central banks are right, just my theory. I think there has been a huge amount of deflation and that a stock market crash would be the "top" in the dollar, and that it will at that moment have the most purchasing power, and that after that top in the dollar (post-market wipeout) silver would be at a low that we won't see again ... ever. I think after the top in the dollar all of the money printing will finally come home, that it will be the end of an era for the U.S. dollar, and that a new trend will be established for the next generation. I think once the equity markets crash all of the doom and gloom scenarios that the PM bugs talk about re: collapse of world currencies will finally come true in one form or another, and that western economies will finally have to deal with all of their debt. Who knows if that's right ... but I personally think the equity markets will correct hard at some point. Who knows when ? Maybe after Dow 21,000 ??
There is an edit feature if you go back to a previous post you made, there is an edit "button" to the bottom right of the post that let's you edit your old posts. If someone quotes your post before you edit, you can't edit what you said that was quoted by the other poster- that gets saved forever. Jim
I thought I've edited posts in the past considerably more than an hour after initially making them....and I'm a free-loafer! .
So if PMs were suddenly pegged to another currency like the Yuan, they will still be same spot price in AUD? Btw - "The clock is ticking on the US dollar as the world's reserve currency" says Maloney in his latest video - [youtube]http://www.youtube.com/watch?v=D52eP8k93r8[/youtube]
The yuan will never replace the USD. In all likelihood the next stage in the global monetary system will be the rise of SDRs against which all currencies will float.
Forgot to mention the date I bet the Yuan will replace the USD as the world's currency by - before 2021. Accept?
If China gets the yuan onto the IMF SDR and then announces it will back it with gold then the dollar is finished as the worlds reserve currency. If they don't get it onto the IMF SDR and the US continues to block them then I think they will join forces with Russia and back their currency with gold and the dollar is still finished. Personally I think the dollar is on borrowed time as is the position of the US as the worlds major power. What worries me is they will not realize when the gig is up and hand over the baton like the British did they will come up with some crazy Hollywood scheme to cling on to power that will probably be the death of us all. The one thing new today that was not around in the last silver run is the cryto-currency, I see where gold and silver would normally rise as the traditional safe haven that now it's the likes of Bitcoin that are getting the boost first. I am a firm believer that no matter what gold always gets the last laugh however so it's just a case of waiting.
the USD is finished but China will NEVER back their currency with gold that is a delusion. You are off your meds deluded
That worries me too. The US has a long history of resorting to using it's military power to get what it wants.
It's on! If the Yuan replaces the USD as the worlds currency before 2021 (and we're still alive) I will give you an ounce of silver. If not then you'll be sending me an ounce of silver
Wanna give a timeframe for "the USD is finished"? If world currencies were to collapse, the USD would be the last currency standing. Everyone will want USD (and gold).
its the bond markets that will implode this time, flight of capital will go into equities, no other place can handle the amount of trillions that will need a home, gold and silver will benefit but not in the way we all hope
