And loving it too. Hope it continues to fall for a bit. Bought allocated under $20 per ounce when spot dipped into the 18's, although the base price on ABC deliverable per ounce prices and not spot. Still cheaper than all the unallocated at dealers
I'm waiting on some cash that's a few weeks away, not a lot but it's marked for metal, so it's hard to see these prices get layed under my nose, so close and yet so far. All I can do is buy CFD's as a hedge now and just cut the position and pay the premium for physical when I have the money, still it's hard not to pull the trigger on a few kilos or tubes of something shiny. Who knows, maybe it's a good thing and it'll be at $17 and change in AUD by then. I have a feeling that there will be a healthy bounce after the fed meeting regardless of which way it goes though.
btw my basis to decide purshase are the same as you, isn't it the fact that silver is undervalued as we can't see the fundamentals propeling back the price? no matter what are the "causes" we claim to affect this sector, the facts remains the same. Thanks, Phil
Um, not sure which post you were talking about, but the gap was a bit more than 4 days. The fact is that there forces other than fundamentals at work - lower industrial demand has bitten but seems to have plateaued, and we can see a number of miners starting to show some losses and that can only happen for so long. While there may be a yet to be corrected oversupply triggered by the price jump to in excess of USD$20 in the last 5 years, I am not sure that the demand/supply is the major driver of the spot price. I would not be surprised if there heavy shorting on the COMEX to try and bring some silver mining stock shorts into question. It doesn't take that much effort to drop silver prices. The lower the price falls, the more demand we will see in the investment space. The question is if the mints can keep up with the demand if that happens. In coins & rounds, I don't think they will be able to. Even 10oz bars will be scarce. Still, I see it as an opportunity to cost-average some of my higher-priced holdings. Happy for it to drop lower, sub-AUD$500 kilobars would be ideal.
Sorry monsta, my mistake. If the gap is more than that then it may mean two different things; either you don't evaluate that my opinion is worthy of your time to reply or "the one I prefer" ; You know I am "probably" right and you just don't know when it will end so we can say it is true. Because; When it will end, it will end bad. COMEX shorting are one thing, I don't think I have to explain anyone what will happen when they will have to cover their shorts at that rate... But what if our representatives were so much obsessed by the power of money that they try to kill the trust into precious metals by calling them "Barbarous Relic" when in reallity the true Barbarous worthless relic is the paper money that has nothing to stand for. Yes - I think it is the bottom price. Am I right? Well, even Jeff Berwick who were right for 2008 and for Bitcoin predictive analysies cannot be accurate on this one, so... well just have to wait unti the botton price stands up from its counter. Phil
So tell us Phil, what happens when as you said " When it will end, it will end bad. COMEX shorting are one thing, I don't think I have to explain anyone what will happen when they will have to cover their shorts at that rate."? Before you answer just consider USD can be printed or created to INFINITY.
Quantitative Easing was a scam, the so-called "money printing" happened only for a very small fraction of the new dollars, the major part just stayed in the sterile world of central banks electronical "depositories". Why: because the central bank PAID its member banks to keep it there, and NOT spend it. The goal of QE was to trick people into expecting general price risings. False expectations, that's all. The silver price trend had and has nothing to do with industrial demand. It's just savers, that ceased to buy it. ETF's didn't add in years. I didn't add in 1 year. Why looking around for external causes, like "paper", "Comex", etc? The reason sits in our mirrors. Me, and others, are the reason behind the price drop.
Actually no, it means that I have no clear distinction of who you are actually addressing. And the rest of your post is garbage. Your basic premise is that I took too long to respond because; 1) I thought you were wrong; or 2) I thought you were right. What a heap of shit you are spewing here. I think you need to pull yourself down from your rather ridiculous pedestal of self-importance and take a big dose of mea culpa. To insinuate that I took X period of time to reply to you because of the above is offensive to me in the extreme. I work long hours, have family and I post here when I have the opportunity, when I want to, and when I have something to share, or an opinion to present. About the only thing I agree with is that the end will be bad. There will be pain, just like '29. As for the bottom, we have not had a breakout of the downtrend and until that actually occurs - either upward or downward, then nobody can call the bottom - least of all you. We can only question if it is, present our opinion and the basis of our opinion.
Here is what I believe. A monetary system is based on services exchange and the trust we have into it (it has been true since the nixon shock http://silvercompany.ca/about.html ). As I have confidance that if I give X amount of money to someone, he will be willing to exchange the service I expect, and then he will expect someone else to render a service equivalent for an equivalent amount of the said currency. But what if someone somewhere produces the same currency I use to get valuable services and does not have to give services to anyone in order to produce it (the government) ?then someone somewhere will certainly begin to say, hey! I want more of that currency for less efforts too! That already hapened, and is still... you don't want the US dollar in your pockets for the next ten years, believe me. What will happen when they see the precious metals "intrinsic valued currency" skyrocket and the US Dollar " Worthless INFINITE trust and promises based currency" being thrown back to US from foreign superpowers like China because they have enough gold and silver to survive withouthttp://www.reuters.com/article/china-gold-reserves-idUSL3N12G37T20151016. Money overage and precious metal shortage, Central banks will get prompted to back their shorts on COMEX and then... all the trust "if some remains" will be lost at that time. I think it wont be nice... Phil
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Monsta... I am sorry for this misunderstanding, I was not adressing directly to you but to anyone who saw my post in general... so either it makes me even more selfish and I should really get off my ridiculous pedestal or "the one I prefer" I don't fear (but respect) the opinion or anyone as it may contribute to my journey to the truth. That said, please accept my excuses if you felt personaly attacked, I don't mean to be rude with any individual here or anywhere, I am a peaceful man and I don't want to start a fight. Phil
You are allowed to be a bit rude here mate Rudeness and a bit of swearing is what makes this forum BETTER THAN ANY OTHER METAL FORUM ON THE WEB.
Oh really? Then, Screw you monsta, you judged me since the begining and I don't really like your kind of attitude, I thought that the precious metal investing sector got rid of that kind of basic agressive competition. Phil
I hope most of the guys and gals feel like me and take everything with a grain of salt . I know i can be particularly annoying so feel free to throw some of that "rude" at me when i grot you off. I have had members here have a go at me and i have had a go back , yet we all seem to get over it and not hold grudges and we continue on and even find views we have in common. I tread each individual thread like i do my soccer games , leave it on the field and no grudges going into the next game. The no grudges going into the next game is super important now that we are in the oldies league, a twisted ankle or hard hit can take bloody weeks/months to come right nowa days, where as once upon a time it was days/week.
