Oops - I panicked. After rocking back and forth sobbing in the shower for awhile I came to the decision of eating my rapidly losing value silver in the hopes of evolving into some tin-man from Oz like being. Evolution so far consists of turning blue. Good news is Fish your post calmed me and I am now completely rational - though I will have to clean some silver over the next few days :| Message of the day if you can't ride the waves get off the boat
The key difference between the stocks you buy and Silver is that Silver is actually in your hands. You can feel it, you can see it, it's tangible and real. Also there is no counter-party risk. Unlike stocks. You don't sell, you don't lose. If you hold a stock (which really is just a call option on equity) and the company collapses you will only be in a long line of creditors (behind like everybody) and likely get back a tiny fraction of your investment, silver on the other hand can never be worth $0. Stack on.
Rocking back and forth in the shower sobbing is OK, I find a much better way to get through it is to go into the bathroom, put the plug into the bath, turn off the lights so that it's pitch black, put the shower on full cold, set off the smoke detector and sit in the tub and pretend that I am in a sub that's going down.
Thanks for the laughs everyone. Gives great comfort. Just waiting to buy just a little bit more but this time I would like to improve on my timing. First time buyer last week lol.... Life is a box of chocolates
you got to laugh its far better than crying... i didn't buy today. i should have when it hit 293 for a 10oz. hopefully tomorrow i can buy 1k for $400.
Another buying opportunity after another big drop but will silver fall further ? As I sit nervously ready to press that "buy" button I wonder if silver will drop once I've ordered. For all you stackers watching the spot, now is your chance as I hesitate and if I don't buy the price will definitely rise.
i talked about silver at work today with my non silver friends. i said "silver dropped" they said, "did it?" end of conversation. twits.. no silver for them, even if its cheap! The simple fact is we Globally (including myself) produced 1 billion oz of silver in 2010 including reclamation. There are expected to be 7 billion people on Earth next month (October 2011) . That's 4.45grams of silver each FOR THE YEAR. each.... in 20 years if you can imagine that far ahead. 4-5 of the biggest silver mines in the world will be gone. our population will be double today's and silver will still have historical value and need. so it will go up. it will rock and you will wish you had bought more when it was only $60 and oz.. I know we recycle. but given aluminium cans average. Recycling is not a long term forever proposition. The silver market has dropping because some major US hedge funds dropped it this week, They cashed out high. The stockmarket crashed as well so they raised the entry to stop fleeing investors them buying into silver .. and India (worlds biggest gold and silver buyers) dries up for 12 whole days ATM. (its bad luck to buy precious things at the moment and bad form and disrespectful) I would suggest next Monday. the price will adjust to more than normal and continue to rise (with a few blips of course) for ever to come.. apart for the Hindu festivals of course.. The G20 outcome lip service and gold prices and hedge funds rebuying into the paper silver market..
Thanks for all your comments about India and Pakistan I Don't have any NUKE as yet. But will like to buy one. :-D Seeing the crises coming.. .. Also we have some responsible government officials (At least central bank) who unlike Bernanke are keeping some interest rate in 8-9% range. And i am by the way a Bullion investor only. As numismatic goes over my head and don't have DRY Powder for it. But, if you like some Indian numismatic (which i don't think India have anything in specific) i will surely help you in getting that. And about the trend of going from silver to Gold, you won't believe but No one here likes Silver, as such. But as marriages season is approaching ( oct - nov.) There will be huge demand of Gold from India, at least 500g of Gold jewelery is made for each marriage. Thanks EDIT : i don't if mint gives below spot prices, but mining cost for silver is lower, as i watched from some of the youtube Videos. I may be wrong. And now i am also going CRICKEY as silver is just making a free fall lol
Thank you indeed for this article restoring hope that all is not lost. Just finished one of the worst rounds of golf in my life, that coupled with stock market crash and silver crash my Mojo was almost depleted.
