I think it's just my current financial situation. Desperate times call for desperate expectations! I'm still in it for the big haul, but I am not in the best financial situation at the moment.
I am sorry to hear that you are financial difficulty. I think Silver was not the best medium for quick riches. Have a look at the charts. There have been only two large spikes in the silver price over the last 40 years. No-one can predict the future. Silver is a gamble. It may continue its downward slide from the recent 2011 peak or something may happen that will lift its price. I now consider silver as decoupled from gold and is more like a commodity to be traded on a more supply and demand need.
I believe silver is a great investment. I believe it will go up once the economy gets worse. I just need to find a way to make more income at the moment. I do need to count my silver ounces, and not the dollars.
A rainy Saturday night with not much doing, and came across another Schiff vid posted here on SS, which got me inspired. I had always intended to revisit this thread after doing a bit of homework, so what better time than now? I don't think Schiff has changed his scripted dialog since I can remember? And it got me thinking that Schiff is really quite Schitt. I know his cohorts are full of it, so I thought I'd check out a bit of Schiff's track record. But first, an appetiser. We all know Maloney's famous line of "under $30 is a gift". :lol: Maloney's 2011 video provides some good comedy. In a single 10minute vid aimed at rationalising his Schitty calls, Maloney claimed PM's as real money that preserve wealth [1:10], and then 2 minutes later claimed to all his customers that you haven't made a loss until you sell [3:00] (implying that $USD are the real profit/loss/wealth measurement benchmark (money) :lol: ). In this same vid, he even wishes for pullbacks to enable more buying [7:20]- implying his motive is trading rather than wealth preservation? Very contradictory? //www.youtube.com/watch?v=GOZgoCew4v8 Then, there is Maloney's famous foray into Bitcoin. In his July 11th subscribers only "Insiders Action Alert" video, Mike announced that he is was personally investing a small % into Bitcoin. He stated that over time he could see a massive upside potential. Let's also not forget Sprott: So, now to Schiff. He calls himself a "chief global strategist" and is the CEO of a small brokerage firm and gold company. So you'd expect him to be quite accurate when it comes to his investment related calls and commentaries? First is his Valcambi sell.https://www.youtube.com/watch?v=0cNwaA5sNr8 Then this: https://www.youtube.com/watch?v=HNqlGXXqKOE And, finally: https://www.youtube.com/watch?v=V5zz72-B2tM I think it is safe to say that Schiff is Schitt...... (and I'm not even going to analyse Pirocco's calls. )
WRC, Wow, thanks for the incredible post. It's interesting how some people make projections without anyone following up on them like you did. Thanks, Also, please never change your avatar.
I followed such pumper up on another forum, in my silver beginning months, this was the story (already pasted several times on this forum before) in a chronological fashion with silver price at the moments added, and with comments added as to make the 'pumping' clear: https://www.kitcomm.com/search.php?...rteronly=1&exactname=1&searchuser=theplantguy Page 4 is the period. STAGE 1: PERMABULL - TRICKING PEOPLE TO BUY THE PRICE HIGHER: $38 https://www.kitcomm.com/showthread.php?t=79452 04 april 2011 "Great way to start the week......don't you think?" $39 https://www.kitcomm.com/showthread.php?t=79517 05 april 2011 "39 ...One more step up the ladder" $40 https://www.kitcomm.com/showthread.php?t=79723 07 april 2011 "Thursday..............Yet another up day" $41 https://www.kitcomm.com/showthread.php?t=80243 13 april 2011 "Hump Day...........Up Day" $42 https://www.kitcomm.com/showthread.php?t=80318 14 april 2011 "Killer Thursday............Movin' on up" $43 https://www.kitcomm.com/showthread.php?t=80419 15 april 2011 "A Fabulous Friday............Great Finish For The Week" $44 https://www.kitcomm.com/showthread.php?t=80679 19 april 2011 "Monday.........Up Up and Away" $45.5 https://www.kitcomm.com/showthread.php?t=80932 20 april 2011 "A Whale of a Wednesday............45+" $46.50 https://www.kitcomm.com/showthread.php?t=81069 21 april 2011 "A Thundering Thursday...............Look at that puppy go!!" STAGE 2: GRAB PROFIT AT THE HIGHER PRICE: $49.50 25 april 2011 (morning) PEAK 1 STAGE 3: TRANSFORMATION PROCESS BETWEEN PERMABULL AND PERMABEAR: (including 1 change-mind due to a double top occurrence) $46 https://www.kitcomm.com/showthread.php?81423-How-is-this-morning-for-a-little-reality 25 april 2011 10:13 AM "How is this morning for a little reality?" OW PRICE RETURNS TO HIGH LET'S SWAP BACK TO PERMABULL: $48 https://www.kitcomm.com/showthread.php?t=81462 25 april 2011 04:09 PM "Monday Mayhem.............Y'all survive? Monday Mayhem............Y'all survive? What a day. Actually, not all that bad. The long term trend is still up. Just a minor bump. A "little" more volatility than usual." $46 https://www.kitcomm.com/showthread.php?t=81576 26 april 2011 "A downturn of 2 days or 2 weeks is not significant in the over all scope of things" $49.50 28 april 2011 PEAK 2 $48 https://www.kitcomm.com/showthread.php?t=81937 29 april 2011 "Silver..........Something to consider" $44 1 may 2011 SECOND PROFITGRAB / NOW THEY ALL GET OUT STAGE 4: PERMABEAR - TRICKING PEOPLE INTO SELLING LOWER: $33 https://www.kitcomm.com/showthread....never-going-to-sell-what-benefit-is-it-to-you 7 may 2011 "Silver...If you are never going to sell, what benefit is it to you?" ADDENDUM: A LITTLE POST-PROFITGRAB (POST-MORTEM FOR THE BUY-HIGHER FOLKS) CHIT CHAT ABOUT THE PROFITGRAB: https://www.kitcomm.com/showthread....old-physical-at-the-top&p=1346165#post1346165 As one can see: the initial 'pumper' became a 'dumper'. His trading actions - "boomboom" thus, were the opposite of his forum "blabla". For the obvious reason: he needed suckers willing to form the buy-high side of his sell-high. What you name 'pumper' here, is just his blabla. In aboves case, it didn't represent the real thought and according actions of the person. In the case of that Mike Maloney, the question then becomes, did he really buy silver above the price he implicitly claimed was NOT a gift? Did he really buy bitcoins at US $620? If so, then he's, at the moment, just one of the so-far biggest bitcoin $losers. But in that case, at least he would have said what he thought and did himself. In aboves case, it was purposely misleading. And then there is the "third kind", the kind for which an absolute price does not matter, only the relative price on his moments of trading. One can have bought bitcoins at $600, sold them at $620, making $20 profit each, wherever the price was driven to before, and after. That's "advice for the moment". Yet, some "forget" to make that clear, causing people with other trading time frames/periods to follow advice that is wrong for their case. Just to illustrate, some people with wrong advice are not stupid, but smart, not in what they advise/suggest, but in their effort to make free $ from those less-informed, that think that they read a "pro" that knows it better than then, to end as a peak-buying sucker.
Great post wrcmad Terrific research Pirocco! The pumpers, just like any broken clock that has arms, is right as much as 2 times a day. Silver is a commodity and just like all commodities traded, there's always risk of ROI involved when investing your money into physical or paper silver. You and I stacking silver doesn't guarantee in any way, shape, or form that silver will be more valuable tomorrow than it is today. Are there worse ways to invest your money than buying physical silver? Yes, lots and lots of worse ways. Silver is neither worthless like some people like to claim but nor is it the panacea that others would like us to believe it is. Can secondary silver mining produce silver at a cost of $5/oz? Yes, a few mines can according to a recent article I read. Silver's use industrially is a double-edged sword in terms of its impact on prices. Finally, silver has no intrinsic value though it does certainly have intrinsic properties or characteristics. It's entire value is what we individually or collectively attach to it. .
wrcmad that above post is excellent. People will see this yet still continues to follow these fools. Great work , that must have taken a fair amount of time and i appreciate your effort
It's now close to four years since the start of the collapse. Should it not have occurred, would we still be as bolshy about collecting silver at over $50? If yes, we'd have accumulated 250% less! In my case, my beloved fifties would be about $25 each with the drop in the AUD. So we are back to the stacker's paradox which is to buy as much silver now whilst it's cheap, because one day it will make you rich, but hope that that day is a while away because you don't want to be only a little bit rich, but a lot bit rich. So if it hits USD50 today we triple our money but I doubt if any of us would ever buy another ounce at that rate.
I would still be buying with $50 spot, as long as people are still buying. Gold is in the $1200 range and we still buy that. Unless of course you are talking about a sudden thrust to $50 silver. In this case i would hold off on any purchases until things had settled. Even if i was buying ridiculously cheap silver of say $30, i do not think i would risk getting stuck with $30 ozs in the case of it crashing just as swiftly. In the near future of say the next 8 months i am going to have a few choices to make with regards to our silver. Our youngest child is going to be starting kindy and with the extra time we are going to have to decide if daddy goes back to work, or spends the extra free time flipping. I have really come to enjoy this flipping game and could imagine it being financially viable for me to do this rather than going back to an office or lab. As much as i enjoy stabbing people and watching 18-21 year old girls run around me all weekend in their panties , i detest the idea of giving $30k odd a year to the government . With flipping i do not get to watch the girls running around, but i do get to keep ALL OF THE MONEY I MAKE. Hmmmm? Edit: I wonder how long it would take to get a big enough youtube sub base to earn a living from? I could become the next Schiff or Mannarino. If these guys can make money with all the tripe they spout, then i would only have to throw in the odd bit of GOOD advice to get the masses hooked. I might just get some of the old Amyway literature out and refresh myself on" dream building" for the masses
As an addendum, within my hypothetical, if silver quickly tripled, the odds are that stocks, bonds, employment and property will have crashed. And if crashed at an equal rate to the rise in silver, then today's stack may have nine to ten times its current purchasing power. That is of course my hypothetical within a hypothetical. I don't think that it will ever happen to this extent. Perhaps silver may double and the economy may halve, giving us a fourfold purchasing increase.
That's assuming you can liquidate your stack (or a percentage of it), and until then it is an unrealised increase in purchasing power. There has to be a counterparty willing to buy silver in such times. So the question would be, what would be most liquid in that case, and would it be easier to sell gold rather than silver? Would unallocated silver be the easiest to cash in? Maybe round 1966 fifties would always have buyers? Or gold sovereigns and 1oz gold blobs & roos may be the way to go? If people are rushing into safe haven assets, is it gold or silver that will have the most demand and be easiest to liquidate?
Schiff Hunter Mannarino Kirby Browne Harry Austin Holter Celente Morgan Hoffman von Greyerz Rickards Merk Roberts Williams Organ Hudes Sinclair Prins Wiedemer "I missed a few" *Logic has no place in the markets. *They sell physical for fiat. *It's said that Mal sold 7% of the ASE mintage last year. Ben B has given you plenty of time to buy physical metal. Yellen has given you plenty of time to buy physical metal. We don't need bears or bulls, all we have to do is think about the world situation; history is your guide.
