http://revolutionarypolitics.com/?p=5226 I'm not saying one should rush to buy silver right now. After all, it has doubled in seven months. Unless this is the beginning of the mania, prudence would certainly be called for at this juncture. The price will always ebb and flow in a bull market, and an ebb is overdue. The question, of course, is from what price level it occurs. What if a correction doesn't ensue until, say, a month from now, and the price falls back to where it is now? I remember some articles in January that insisted silver would fall to as low as $22, and, well, they're still waiting and have in the meantime missed out on some huge gains. For silver to fall back to $22 now would require a 40% drop; not impossible, but I wouldn't hold my breath. Enjoy...
The issue I see with buying Silver is you need to hold onto it for a period of 12 months to reduce the tax you pay on it....there are obviously people who buy small amounts with cash but unfortunately the big players are running the show. If this is the case, would this not mean most investors will be short/long term, ie at lease 12 months if not 2 - 3 years....so if the POS begins moving up and more and more people buy then they will also enter this 12 month phase of having to hold silver. Therefore when Phase 3 hits the people who already have been holding silver for over a year will be in a better position to sell straight away. (and of course us here on SS) What I do not know, is how much influence investors who do not buy physical metal have on the POS. ie EFT's etc.... I guess what I am saying is that there is a war between physical holders of silver and paper holders...we are waiting for the physical holders to win so the POS will rise, despite any short term drops. If the price does drop then the physcial holders will be feeling great as they will be able to buy more.
With gold not doing much for some time now, i've been presuming that silver will take a breather. Whether that be in a form of a pullback or just going sideways doesn't matter. This has been the reasoning behind my most recent purchases in gold. Although with the actions of both metals being similar it is not at all unfeasible that silver will continue it's run, especially now with the Portugal bailout likely to give an additional boost to the gold price if previous bailouts are anything to go by.
Im thinking the sheeple of the world are slowly getting the message of the potential economic disaster out there in the world ....and are trying,like us,to protect their wealth.The average Joe cant buy a lot of Gold so whats the next best thing?...not to mention all the indicators that Silver is a great investment.The more affluent will buy Gold and lots of it.Silver and Gold will continue to rise with the odd drop...but will just keep chipping upwards...IMHO
I agree and have been watching this for a while now. Of all the commodities (Food, Fuel, Fibre etc), gold is now the standout for NOT increasing at an alarming rate...it's well overdue.
The thing I wonder is that we SS cringe when we pay spot at say $35.00 to what it on the day, however, I personally know people who wouldn't hesitate to pay the going rate at the time (even if it's $120.00 oz) and wouldn't bat an eyelid. So us being a little ahead of the game, we are kind of lucky. Just walk up George Street and imagine if there is a panic buy. $120.00 oz would not be that expensive at all? that is, if you really need this commodity to survive at the time.
"I'm not saying one should rush to buy silver right now. After all, it has doubled in seven months. Unless this is the beginning of the mania, prudence would certainly be called for at this juncture. The price will always ebb and flow in a bull market, and an ebb is overdue." I hate the way this paragraph has been structured... It is very hard to understand.
Oh grinners, you edited your post and I was just about to quote you and point out your own shit grammar!
It is too late for anyone to be able to AFFORD to bring the silver price down !!!! We are buyers at $40, please be our guests and watch us buy at $25 !!! It is running out and the world has started to gyrate heavily both politically, financially and environmentally !!! BRING IT ON CRUSH IT DOWN SELL IT OFF P L E A S E ok maybe a bit harsh, but i mean it !!!!
Sorry I have to disagree. The average person on the street in Oz has not a clue or interest about PMs other than to note they're close to all time highs which is a reason not to buy in - if they think that far. Over at marketoracle.co.uk, Nadeem Walyat has just put out another paper supporting quite well his theory of a stealth bull market in stocks http://www.marketoracle.co.uk/Article27334.html The economic disaster could easily be five or more years ahead - Rome was not built, nor did it fall in a day. Boiling frogs from a cold water start takes a while.
I stick with the fundamentals myself. 1 - Silver is the best electric conductor, the best light reflector, the best heat conductor and kills bacteria on contact. Nothing else can match it here. 2 - Silver is the most used metal commodity on the planet. Over 2000 industrial patents and growing. 3 - Silver is destroyed in use. Not rented out or converted - literally destroyed. 4 - Over 90% of all above ground silver over the past decade is gone forever. There's more above ground GOLD than silver now to buy, yet it's 1/40th the price. 5 - Energy costs are rising. Silver is getting harder to find. We have finite resources required to chase increasing energy cost metals. It's very simple core fundamentals. We need the stuff. Not want - need. We're destroying what we find, making it even more rare. Everytime we go to get more of it, it's harder and more expensive to find - and then we blow it up. Markets go up, down, left, right. Who honestly cares? The fundamentals on silver over the long term and downright obvious. So I'll be a net buyer, regardless of price. I don't buy with debt, I cannot 'lose' on what I already hold and own 100%. I put it in a cupboard and forget about it. No skin off my nose. Everything else concerning discussion of it is just noise to me. End of discussion.
Silver is the cheapest most valuable price contradicted element on Earth. That former sentence only makes as much sense as the present fiat value. Confused? Aren't we all.
Great post but not sure about this part? Isnt the Silver just stockpiled in a dump somewhere inside its application. If Silver went to $1000oz, surely theyd hire some indians to go in the dump and reclaim all the Silver. Is that possible?
That's all true but Gold is what those with money want. My mobile phone is superior to an iPhone in just about every single way yet iPhone still wins.
You forgot that it kills werewolves, vampires and other undead creatures. Thats gotta be a big selling point.
