If we compare with last year this time, last year the price started to climb like nuts around this time. Supposedly more demand at this time. We'll see what happens. I have only been watching the price for a year now.
No its not, some facts, welcome to earth 2011. 1 billion oz of new silver a year global output, the highest throughput in its history, And, the fastest silver mine depletion in history. Silver is running out after millennia of constant mining. It is also running out at the fastest rate in its history, thanks to improved flotation, milling and improvements in haulage etc. In perspective, Cannington (BHP) the worlds largest silver producer - 6% of global output, has a proved 18mil tons (probable 31 mil tons) ore reserve and is being extracted at 3mil tons per annum. so ten years left to run min. this is a new mine and its half gone. They do not go on forever. And we are lucky enough to be at, or near the end of it. 7 billion people on the planet - Oct 2011 4.5 grams of silver each, not a day or a week, but a year. Each year industrial demand out strips supply thus higher prices, we started this shortage to market (cant keep up) way back in 2005, have a look at silver prices way back then. Will it go to $4 -$5 an oz and sit there for decades like from 1974-1990? not a hope, it cost more to produce today than that. And if the mine goes broke, they stop production completely. in 50 years.. there will be no more Cannington or anything quite like it on the planet and even more people looking for silver. bit like your bananas getting hit in a cyclone, if the market wants / needs them, and there isnt many, the price goes up. unfortunately, silver does not grow on trees
Ok mate~Have you been hammered into conformity yet? I'm going to play Devils advocate and step over the net and play doubles. I guess you can't eat Silver, nor will it be easily converted into Cash should we face a Liquidity crisis. Its ok holding Silver for the long term as i agree with all the long term Monetary commentary and Supply facts. Lots of SS observations are tip topbut in the short term it could be quite useless paying bills,buying food,buying opportunities presented. Silver has to be converted first~and converting at these rates can easily result in a net Fiat loss. Holding Fiat at the moment is also a Damm good idea..prehaps better than 'Silver'?.Captain Shields up? If people take an emotional financial position sometimes they will defend that to the deathbsylvest take it all with a grain of salt. JulieW brought up a great point,very balanced and a great personal experience real world example. REDBACK
The Metals are in nowhere land at the moment... dont think the charts are very relevant.. Its like they are waiting for the next "event" or announcement for their next move ...
simple - cos you wont be able to source any physical then, or at least not in the quantities you'd need. savvvie??
You can still source paper silver as long as the world doesn't end. I am also sure the asx ETPMAG (silver etf) will still be available. If stackers are only doing this to speculate then the paper market makes more sense than physical. For as long as no country is wiped off the face of the earth, these financial instruments are still useful. The crisis we are entering is a financial crisis, if we are entering world war or interplanetary war then the fundamentals differ. However, picking bottom and top of market is difficult and spreading your purchase is still very important. If anyone has gone all in at price point higher than now, then they will feel pain at this point. Good luck everybody, hope we all survive and thrive after this coming crisis.
if "what they're doing with it" means i need to pay twice as much for my cheeseburger - then NO - it's not okay! seems as if - in your opinion - your name does not refer to fiat then ...
No real safe haven right now, cash sort of helps, but any instrument of investment with risk is more risky than cash. Even pm (in respect to fiat loss possibility). Everyone has their strategy and approach, however in general, not a good idea to go all in into 1 asset class (cash,re,pm,stocks,etc).
It means that - just as Roosevelt stole the gold of the population of the US in the 1930's - so too the government of nanniland will do the very same thing Downunda! It's already provided for in the referenced banking act, i.e. it's already "law"... the only way this can be overturned is to elect a Libertarian government. **yawn** impossible though while the zombies/sheeple are in the majority
short term answer.... most definitely. I still believe we will see repeat of GFC1, initial massive drop then overtake $50 high. Will probably witness multiple future 'GFC's' before the whole thing is reset. the next one will be a real kick in the guts but not the last. Look what happened after last weeks little scare, that was a preview i think.. and also woke me up a little. Im happy keeping my stack and still accumulate in smaller amounts from now. Looking at clearing small debts, raising my cash amount while cutting back on PM's (but still buying)
lol - it works if you dont know what you're doing... the losses are evened out by gains - but no (or precious little) overall gain :lol:
No or precious little overall gain is very misleading. Maybe if you held every possible kind of investment vehicle, which would be something like total or complete diversification. Having only one investment vehicle is not risky it's downright ignorant. You don't have to have your cash spread 8-10 different ways, but having it all in one basket? Well let's just say no successful investor does that. There is an exception to every rule and Yip, you might be it, good onya mate. Oh, forgot to mention buying and holding physical PMs makes you ZERO money. It's only selling that allows realized gains, whereas other investments can and do provide income without having to sell them.
True, but we only 100% know what we were doing in hindsight. Unless someone here has crystal ball or quantum computer then we don't know 100% where our investment is going. So, a little bit of diversification helps and certainly helps calm the nerves when one investment class decides to take a dive off the highest cliff.
