In all seriousness never mind all this "to the moon" crap. With everything that's going on in the world at the moment like physical shortage and Asian & Indian demand, banks being fined for manipulation, end of the London fix, brink of war with Russia & Ukraine, QE and the so called taper, weak US dollar (and that's just what I can think of off the top of my head) Surly Silver & Gold should be going up not down. Never mind $50 plus I'm beginning to think we'll never see $22 again ?
Suppose price rose to $22 monday. Then what? Gonna sell? I buy, and the more pessimism I see, the more I'm tempted to. Today, eye on 23 morgan/peace dollars. Trusted seller, trusted source. Silver content price, 15 euro, being spot +40%. Bought them once before, at 22 euro. Would be stupid to let it go. Even if the silver price would be sold further down. That was my plan: buying everytime a better price appears, and price appears reasonable on the decade term. And lol, get another nick. It's like a ballerina on snowboots.
It's silver v economy. Keep your wealth in silver or in the bank? Spot drop v bail-in? In Oz, without the tax, silver and fiat are virtually interchangeable. It's hard to make the wrong decision. I can sell my silver tomorrow with no loss. I can buy silver tomorrow with little fear of a loss. Yet, if my silver assets were to sit in the bank tomorrow, I'd be shitting myself. I have Greek Cypriot heritage, I know it can happen, I had money in the bank in Cyprus. Same thing happened with Polish pension funds. God said Sammy, "I want you to build a stack! 40 troy ounces wide by 50 troy ounces long and 5 ounces high!" And Sammy looked up and said to God, "WTF a troy ounce?"
It's not silver versus economy, it's the people on silvers market versus the central planning thieves and the parasiting gangs lining up behind their ass. I'm no quitter. But that's just me, and in the end, I'll quit anyway, since I bought silver as inbetween step to what I really wanted, and there will be days that silver will be the means to get something from somebody else. What I hope for is a stable price trend. No moons and floors, just in line with general prices trend, doesn't matter whether that is up or down.
I wonder if there would be any broader economic consequences if gold and silver dropped to those lows? Would we see an acceleration of investment dollars shifting out of PMs and into shares and realestate? Would we see mine closures? Would China massively step up its gold purchases?
Mines would stop mining, and the Chinese would go mad buying every ounce they can get. They may even take 75c in the dollar on all those US Treasuries. And Old Codger would.........
All you have to do is calculate the value of silver and gold, and your base valuation price levels will become much clearer.
Beware of the "to da moon tomorrow" silver/gold permabulls. These people are either shady snake oil salesmen, ignorant fools, or complete newbies who have drank the permabull Koolaid. The smartest investors have been saying for a year or more that instead of to da moon, there will be further consolidation of PM prices that could last for a few years. I'm not really into applauding when the price goes higher nor when it goes lower; I'm into applauding the good, level-headed, honest folks who are after the objective truth and who aid the rest of us in understanding how to better utilize our money and to beware of the harm of permabull thinking. .
A couple of years ago, when the silver was up, Everyone were wishing that they will buy when silver was $20; now silver $20 , is anyone buying? Next ride will come, what are you going to say with that??? Silver is $20 now.
There is an issue here and it is your own understanding of silver is in fact......wrong. Silver has done exactly what it should do which is behave as any other market. So you have all these reasons why it shouldn't have. It is obvious that your head is filled with other peoples compelling arguments. I can only suggest that you learn from this experience and jettison all these preconceived ideas from your head.
There is another issue here and it's that silver does nothing. It's a dead metal. And, a market does nothing. It's a situation, it's people that do something, namely trading. So implicitly', you state here that people behaved exactly alike they should do. So isn't this then the same as stating that people should pay too much? Trading is exchanging something for something. Paying too much means something for nothing. If they had been aware, it would have been charity. It's theft instead. As mmissinglink sentence makes clear: "I'm not really into applauding when the price goes higher nor when it goes lower" Without people making errors, and others taking advantage of it, upto even actively misleading people into tricking them into making these errors, the price trend would be more stable. The price would be more predictable. The monetary role of storage of value, competing with fiatcurrencies, would be better, and financial planning, would be easier. But some show their middlefinger to that. I didn't see their warnings in april 2011. Instead of using their mouth, they used their fists. To hammer their sell buttons. Later on, and upto present day, their mouths are full of warnings and... Learn People Learn - talk. With some interruptions, being temporary jumps back in and out.
Over an hour, a stack morgan and peace dollars will arrive. Btw it's less than $19 now. In some past, I paid 22 euro for such dollars. Now, it's 15. I can live with that. And if I find them cheaper in the future, I'll buy again. I won't be waiting... and waiting... and waiting, till the money for nothing club rushes back in. Whenever that is over a year or over 10 decades. And I won't be selling after they rushed back in either. I will suspend stacking, though, till after they hammered their sell buttons. Because I wanna give something for something. Nothing special, that's just what trading is. Although some like to take without give.
Trading is exchanging something for an agreed price. Thus, the buyer did not pay too much, they paid what they saw as value. Otherwise, they would not have bought. Thus it is not theft. It is instead poor valuation by the buyer. Paying too much assumes the item was over-priced when it was purchased. If it was over-priced, then why purchase? If it was over-priced, then what is the correct price? If, on the other hand it was under-priced when purchased, then using your logic doesn't that make all stackers thieves? If silver goes up, then are the sellers unaware? No. "Theft" is just an excuse for being wrong.
And if price rises, then was silver under-priced when purchased, then using your logic doesn't that make all stackers thieves? If silver goes up, then are the sellers unaware? Frontrunning? Misleading? No, they become the "I told you so club". "Theft" is just an excuse for being wrong.
If that was the case, then why bother stacking? There would be absolutely no point. Stable price means stable fiat value..... it works both ways.
