$19 the end is neigh!

All I can say is, I'd hate to be a metals dealer (or miner for that matter) at the moment... I'd be getting smacked like a naughty puppy!!!

 

Who knows?

I am waiting on some funds to roll over from a Superfund into my SMSF and every morning when I see the spot I curse the funds for not being available and every evening after it has gone even further down I thank them for not having been available.

 

Yeah, I hear you there.
Kind of damned if you do, damned if you don't
I have some funds tied up also which would cost a little to free up and I am agonizing as to whether I should free up these funds for some more PM purchases or leave things as they are.
Very difficult and confusing times, just a little frightening too, wondering what the bigger picture really is.
What does all this mean and what is going on in the dark halls of power.
I am topping up with some small, very cautious buys, so if prices do happen to take off suddenly I can at least say I did not completely miss out while if it keeps dropping I suppose I can console myself in the fact that I have limited the damage.
Hardly an ideal scenario but what can you do in a situation such as this?

 

Of horse it is.


(wanted to do that for ages!)

 

You sound a bit un-stable. :lol:

 

HAY!

 

http://translate.google.com/transla...tock.caijing.com.cn/2013-06-24/112947938.html



Bank Of China Declares Moratorium On Transfers, Online Banking; Counters Inoperable

Bank of China, Bank of suspension of transfers morning counters were unable to apply for online banking



Customer service said, now silver futures transfer service has been fully suspended, online banking, the counter can not be handled, and now has the background system response, recovery time is not yet known.
WASHINGTON (correspondent with Xuan) Following the ICBC, the Bank of China also go awry again. This morning, the Bank of China Bank of transfer moratorium, online banking, counters are inoperable.

10:00 many, many people began to receive messages sent to the Bank of China, "the end result of the Bank of China Bank failures, bank customers can not carry on through the Bank transfers, please Bank online banking, bank counter or use of other bank transfer system, Bank system will be restored promptly notify you. "large number of transfer business banking needs of the people turned to online banking, counter, but according to the instructions of the public still found text messages can not handle.


Reporters call the BOC, customer service said, now silver has been fully suspended phase transfer services, online banking, the counter can not be handled, and now has the background system response, recovery time is not yet known.

As of 12:00, the Bank customer service said handle part of the user's online banking has been restored.

Just yesterday, 10:35, Shanghai and other places ICBC system failures, ATM machines, POS machines, online banking appeared paralyzed more than 50 minutes, all kinds of businesses can not properly handle.

The ICBC bank system failure comes trouble "money shortage", inevitably lead to speculation that many people guess the bank is not money.

To solve this problem, ICBC relevant person in charge told reporters that morning, business process slow, the analysis on the host software upgrade, emergency treatment, 11:27 various businesses all returned to normal.

As for speculation that the crash might be the last two days the inter-bank "money shortage" relevant, ICBC has denied.




http://stock.caijing.com.cn/2013-06-24/112947938.html



http://translate.google.com/transla...tock.caijing.com.cn/2013-06-24/112947938.html

 

Thanks for that! Just 30 minutes ago a friend of mine was unable to transfer any money from any her 3 different Chinese bank accounts, article says its a tech glitch luckily. The mother of all GFC's would be unleashed if there was ever to be a real bank run on over there.

phew..

 

That'll teach them for letting that American guy with the secrets get away when they said to arrest him and send him back for torture execution and trial.

 

You are all becoming neigh sayers in this thread. :lol:
Heh heh, couldn't resist coming into this one.

 

At this rate us$10 silver isn't too far away, all we need is another speech or 2 from america

 

$19 silver?

Don't look a gift-horse in the mouth.

 

i think we have hit the bottom and will slowly increase to $22 USD ($24.50 AUD) by the end of the year

my guess is based on : - silver futures are up for the first time since i started looking at them every few days

 

You don't want to be thrown off by volatility. Hopefully the bottom is in soon and people are strapped firmly into the saddle.