It almost seems to be that a large number of "stackers" act almost as though their sheer enthusiasm and determination will somehow manifest higher silver prices, which is extremely disheartening as someone with a moderate silver position. So, if you're NOT one of those people who seemingly thinks that if they believe hard enough, silver will rise, could you answer me this: How does silver have a future? Most PM bugs see economic collapse(s) in the semi-near future, and I'm inclined to agree. However, how can you possibly get around the fact that silver got hammered in the GFC, and got hammered over the past seven days as severe worry hit the markets. Isn't this *extremely* bearish? When there really is a big collapse, why would this suddenly be different to previous times? Why won't it get hammered even more than before? I really don't see how so many of you can be so overwhelmingly confident in higher future silver prices. At this stage, I see no other option than to sell as soon as I can break even, if such an oppurtunity presents itself.
Because every time there has been an economic jolt, the knee-jerk reaction has been to flock back to the "safety" of the US$. What silver bulls posit is that fiat currency is no safe haven at all. So in the absence of proper, solid, real currency, the theory goes that in the next major economic collapse, capital will only be safe in Precious metals, because they have historically acted as real money.
Silver is a vital industrial metal, the most conductive metal on earth. People, experts, not us LOL, still maintain all the long term fundamentals are still in place for the rise of PMs and that this is just a normal correction. I suggest you research historical bull markets and you will learn PMs never go straight up. Some people just don't have the stomach for wild swings in prices. Look inside, be honest with yourself and if you find you don't then it's best if you did cash out once even. No one will think any less of ya mate
Silver is no less safe than a lot of other asset classes such as stocks and bonds, many currencies and superannuation for that matter. It is also a very good currency devaluation hedge, a very good inflation hedge and a poor deflation hedge. It probably will get hammered in a big collapse. For a while. but if fiat money collapses, then it could be a good thing to hold. It's a risk to hold silver bullion. It's a risk to hold just about any asset at this point in history. The only perfect asset to be holding really is a fully paid off house in a peaceful area with a big garden area. Anything else is a risk, silver is no worse than most.
This is why mate Above Ground World Silver Resources Source : http://www.wealthdaily.com/articles/200-silver-as-comex-faces-default/3184 If you don't believe it's a valued investment I encourage you to sell. There is no point holding an asset you personally don't believe in if you don't have future confidence in it. You're better off selling it and placing your cash into something you personally believe and trust and allows you to sleep better at night. Personally, I'm holding my silver for all I'm worth for the long term. It always is (and should be) a personal choice.
Yes, but an economic collapse will see a greatly diminished demand for silver. OR at the very least, enough people believe this is the case for it to manifest lower silver prices. Still, I cannot get over the fact that a (comparitively) small scare had such a huge impact on price, and why an even bigger drop isn't in order when the shit hits the fan. As for the "experts", I mean PM expert numero uno Peter Schiff may be good as economic forecasts, but as Im sure you know he was tremendously wrong when it came to knowing what investmetns to have when the collapse came.
Nothing has changed, the monetary crisis is still "on", the only saftey is holding phyiscal. Only Concern being for Silver EFT traders and short term players. 1for1
Silver will have its day once all the weak hands and spec traders are out. When will this happen? Who knows. All I know is it will take a fantastic price to pry the silver from my hands. At the moment purchase twice a month and double down on the dips. Who cares if it takes 15 years to get there.
Once you get over your noob freakout you will be fine. I went through the same soul searching not long ago and came throuh the other side stronger than ever
bsylvest when the collapse occurs Silver probably will collapse in price as well. But soon after when the governments start the money printing, Silver will soar and if we have hyper inflation then well we will be able to buy half this country. It wont be so much industrial demand that drives up the price of silver, it will be investment demand according to Mike Maloney. Just hold and sit tight. If you are that worried, I would trade your Silver in for Gold.
Well constructed topic, hope you get some quality answers. Just wanted to point out one thing; Silver didn't collapse because of a 'scare', it collapsed because it was due to collapse. Everything was written in the chart... A common misconception is that a single event will cause a collapse - no, it is the building of events over a very long time-span that lead to such an event.
Don't confuse the value of physical bullion with spot price either. Spot can go to $10.00, but try buying a 1oz Pert Mint coin then. you will be paying a lot more than $10.00. If silver shares and ETF's collapse that does not mean that the value of actual bullion will go the same way.
I began buying silver in 2008, at around $15 now it is around $31 ( even after a significant drop). 100%+ in four years! My property portfolio is down around 15-20% down over the same period. Shares are down even further in that same 4 years. How can you not have a more than reasonable confidence in ag? Cheer up Byslivest!
This is what I'm talking about. You're not explainign anything, you're only confident because you convinced yourself to be.
Analogy Think of water being cooled down. So it goes from 20 Deg to 18 Deg to . . . and all the way down to 0 Deg and beyond- Notice what happens than?! There is a PHASE CHANGE, and it stops being in LIQUID form and becomes HARD. It is still H2O but it has changed some physical properties. So far what has been happening is just 'noise' but still in the liquid form, and every time it comes near to the PHASE change - those who can and who stand to lose add some salt or some chemical or some heat and PREVENT it from undergoing that change. But change it will - it must. That is roughly what will happen with the global economy. and time will tell...
Im semi-new to the PM game. Id rather have PM's in my possession than bonds or share certificates. Iv never been involved in any business i can not control. Whats happened in the last 5 days (1) iv never seen that happen and am glad in a way i watched and felt it, it felt like crap. Iv learnt a big lesson from it (2) Im no expert but I doubt very much they have the economy under control. The Greeks are tzatziki.. I got into PM's for the future. Silver can hit $1.50. Ill buy it with a smie...
What is your break even price ill buy it all off you if its reasonable. Why hold bullion in the first place if you believe a word you wrote?
This is not for the short term Its for the long term I am 21 years old and havnt been in the PM game for long, I got a little scared when it droped to 27 dollars but then it came to me this is an oppturnity i shouldnt miss and you know what let it drop more ill buy more! But if you cant handle it read my Signature
I think I agree with bsylvest on this. Just about everyone on this forum agrees that SHTF is not far off. Any just about everyone agrees that when SHTF then silver will plummet but because the fundamentals are good then in the long run it will be great to hold onto silver. BUT - if everyone is so convinced that SHTF = lower silver prices, then why not wait until then to buy all your silver. I know you can't prefict the bottom but when SHTF we'll all know about it and then would be the time to buy. Seems like a lot of people (myself included) are saying that because it will be high eventually it is ok to buy high now rather than cheaper tomorrow. A bit like buying a house for $500k this year instead of $400k next year because in 10 years time it should be worth $1 mill.....in my mind you'd still have paid $100k too much for that (hypothetical) house
One reason I have confidence is that when the shit hits the fan people will have nowhere else to turn to as store of wealth, and I mean a real shit hits the fan scenario not zombies and series 800's roaming the streets but the lightbulb moment when people realize that paper in both fiat and shares is basically worth the paper it is written on. When the markets really tumble and burn and the banks are swarmed with people trying to withdraw worthless cash before they crash, when U.S and European bonds are seen as worthless promises and the economy falls down worldwide like domino's where else are people going to preserve their wealth?
