I predict that silver will be at $1000 an ounce before this decade is up! I can feel it in me bones folks!! Silver Bullion Boy
well i hope my stack is huge by then and well i wouldn't know what to do with the money probably just help some people out who need it?
flawed argument http://www.thepeoplehistory.com/70yearsofpricechange.html 1970 - 25 cents / price of gold 35$/oz 1980 - 50 cents / price of gold around 800$/oz Increase: Bread: 100% Gold: 2280%+ Nuff said.
So what price do you think the price of silver and bread will be in the next decade? Regards Errol 43
errol - I have no idea, certainly higher. But bread is not lost as a finite resource - silver is. Bread is renewable, silver consumable. Etc, etc.
Aengrod...Great stack of figures which I don't dispute. However can you put in the debt levels of the USA from 1930 till today. In the figures given by you, you can see how inflation has been the order of the day 1930/2008. Today, it may well be different as hyper-inflation may be the only way to pay back the debt. What do you think? Regards Errol 43
What do I think? Revaluation of PM's is imminent, because of that debt. Hyper-inflation wont be necessary then, all of that debt would be sucked up by gold and silver, life will carry on like usual, its just that no one will be eager to sell their stack and all gold and silver mining companies will be nationalized, as governments wont allow for private individuals to have their own printing press. Mind you that gold and silver will then act like what they always were - store of value, constantly going up. Rickards, Bass, Sinclair, FOFOA, Another ... they all are seeing the same thing.
I be of Irish stock myself.. Now that was a great discussion Anegrod! that the way it should be, play the ball and not the man.. Interesting to hear other SS members thoughts on the matter without calling each other names. Regards Errol 43 Last post on this topic as I'm off to bed.
well all i know is that i do not have much money and am sacrificing lots of life's pleasures to buy as much silver as i can and it feels like the right thing to do, remains to be seen if i am nuts or not, just have to do it !! why do this to myself live tough now in the hope my buying silver will give me what i want in the long run? i have no logical answer but i am driven to do it
Same here, I stack as much as I can. I feel when the masses of folk out there holding fiat savings all of a sudden want PM's and they will do in the very near future I will be able to swap my stack for the things that I can't afford in life at the minute! The EU is in big trouble at the moment, not even talking about the rest of the World. When the Euro currency collapses, which it will do, then that will be the starting pistol to the biggest bull market ever seen!! I am in it until it rockets, does not matter if the price of silver dips in the 20's, as it will sky rocket in the coming months/years!!!!
Thats exactly why Euro WONT collapse, so far its the greatest gold re-valuating currency on the planet. That was its purpose from the very start. About EURO from very mainstream (wikipedia)
Hi SBB, I'm not sure about this statement. The way I see it is that the weakening Euro creates a bull market for the US$, as currency traders / investors seek the 'perceived' safety of US cash reserves in response to PIGS issues. I see that PM's and the US$ hold a very strong converse relationship at the moment, which has shown that when the US$ is strong it puts downwards pressure on the price of PM's as they are more expensive to purchase with alternate currencies. If the euro were to suffer greatly I think that PM's would crap themselves as today's typical investor would feel much more comfortable with a liquid US$. I think this will be the case until at least the next review of the US debt ceiling. Mr.G
^^^ reply to Aengrod Sorry, but I have to disagree with you Aengrod; the Euro WILL collapse, it's just a matter of when. The more I learn about the history of the Euro and the lies that Governments told about the state of their finances, just so they could to join the club, the more it looks like a car crash waiting to happen Greece is small fry compared to Italy and, when the Spanish banking system and provinces finally keel over, Spain. All they appear to have accomplished with LTRO and the myriad of other bailout schemes is to delay the inevitable. I guess in order to give companies and governments a chance to prepare for the worst... and to allow a few feckless politicians to attempt to con the public into re-electing them again. When the Euro does go down the pan it's going to get very messy for quite a while, what affect this will have on the price of PMs I have no idea... although I won't be surprised to see Silver at 1000 per ounce many years before it gets to $1000 oz
I must say that that was my first thought as well (at the very first day, when I ordered my first ounces) but, but .... Every government lies. Should we guess which one is bigger liar? Brussel or Washington? Just think about it, it is a race to the bottom with constantly devaluing currencies. Where is the bottom? If all currencies devalue against each other? The only thing that is left that can take the hit of that constant devaluation and survive is gold and silver. All that wealth will be transferred to those that have possession PM. EU is gold superpower. Holding 12 000+ tons of gold ... 50% more than US. The only issue now is price. Thats it.
Some great posts and insights fellas. I'm just trying to stack as much as I can. Don't make much but I'm almost to 900 oz. Trying to get my friends to jump on board with gold and silver but most think I'm bonkers.... Here's a question..How much gold does the USA actually have in Fort Knox ??? I'd sure like to know that one