another one "http://www.smh.com.au/business/markets/gold-silver-continue-record-run-20110409-1d870.html\""
The average Joe Schmoe has never seen a silver coin, and 99%+ do not own silver. We are as far from a mania phase as you can get.
i use to watch sunrise until couldnt stand it anymore////though do remember kochie banging his fingers in the air like pistols when gold started climbimg past $450USD......it got my attention as was reading about gold at the time....i finally took the plunge when it was $560USD...too bad the exchange rate was 77cents...
I agree. All this talk of the Hunt Brothers and 1980 peaking out at $50/oz just fails to take into consideration the impact of trillions of dollars in new money printing, the growth in welfare dependence and the fact that everyone not on welfare is in debt to their eyeballs and flat out just making house repayments. There is precious little scope for anyone buying precious metals these days other than institutional investors, retirees and a few hard-nose indepedent thinkers that are living without debt or managing their own investments. And instituational investors are fully invested in the stock market as far as I know and practically everyone else is fully leveraged on the real estate rollercoaster . . . that is just cresting its peak. There are precious few invested in precious metals. For instance, I only know of one person who is interested in the gold market and no one else I talk to about investments has PMs in their portfolio. Then again, maybe I'm just slumming it!
At the moment gold prices are in the commodities part of the moorning news,hopefully they start putting the silver price up there.
Just like backing Phar Lap? I am gobsmacked by the POS rising. BUT, even if you are a member of the 1000oz club, the $ amount increase is small stuff compared to global $ floating around. 1000 oz @ $40 is $40,000 1000 oz @ $100 is $100,000 What does 100k get you?
This ... And the fact that most viewers will be wanting "the old fart" Kochie to hurry up and finish the finance bit, so they can get to the stories about Miley Cyrus and her bong, and Lindsay Lohan being snapped with her tongue down some random chic's throat.
Silver's up 100% in 12 months. I don't care how much the $$ figure is, there's nowhere else that I could have done better. C
Apparently some dude on the morning news show was talking about gold and silver. My work mate was telling me how it's gonna be the next big thing, and I should start looking into it
Damn that's a sure sign the ride is on borrowed time now when a cabby tells you about it run and sell.
You're spot on mate!! I too am amused at talk amongst people here of gold/silver being near a peak or in a bubble... Not even close!
The thing I am banking on, is that the media is constantly using the words "record high" for silver. To the average mum and dad this means that it has peaked, or is going to be at its peak shortly and that they missed the boat (unless of course they hear it a few times and the value has gone from $40 to $45, $50 to $60, for example). When they actually start giving people advice to buy the silver is when we'll need to brace for a stampede.
Haha yeah I love it when MSM say "Record high!!!!" but don't mention inflation or choose to pick a timeframe w/ selection bias. People look at me weird when I buy at RECORD HIGH PRICES.
Yeah, my dad keeps asking me if I'm going to sell at $50 but I always remind him that $50 is no where near the inflation adjusted high, once the MSM indicates that silvers high was in 1980 dollars then people will rush in, $50 back then could buy a lot more than it does today.
