Great to see all the replies to this thread! Also interesting that everyone still has a strong interest and conviction to hold physical Silver but mainstream are in full bear mode and even saying PMs are over as an investment. Blood is in the street which is a good thing IMO. I guess we all dream of that $400/oz mark but its good to see people realistic about the future. A big driver for me was as a hedge against the AUD falling, China slowing and the impact it would have here. Also after seeing what happened in Cyprus and wanting to find a way to get capital safely outside of the banking system with little risk of ending up with nothing if things went really bad.
oh I wanted his synopsis so I could prove false once again all the common held beliefs of what really happened.
. Why must everyone with no counterpoints stoop to name calling ? Each time anyone tries to stop a rumor such as the Cyprus situation you're called names when you try to point out the facts.
condensed version. 2 banks failed and everyone with over 100k euros (uninsured deposits) lost their ass. They ended up with some janky ass bank shares that will probably never be worth anything. Here in the USA we have FDIC insurance similar that comes to 250k. You're an idiot just like Cyprus if you have more than that in one account because its not covered. Cyprus was a tax haven for illegal money and people flocked to it to hide money Nd the world didnt really care that a bunch of criminal money went up in smoke
Yep well that is pretty much what I've read happened in Cyprus as well Not sure what the rumours you were planning to disprove were The US may have FDIC insurance but that is not a bottomless bucket If the entire banking system went under at once the govt would have to step in to save depositors Question is would the politicians look after the depositors or their banking buddies in a crisis
trew,here's a serious trolling question for you... When are you going to stop tolling & provide some actual facts and discussions? Maybe a little research,some links & commentary instead of running around calling people names,disputing what they say with NO FACTS at all? How about some well thought out responses FROM YOU?
Interesting graphic... http://demonocracy.info/infographics/usa/fdic/fdic.html The FDIC Illusion of Insured Bank Deposits ----------------------------------------------------------- Deposits at Commercial US Banks = 9294 Billion Total US Currency in Circulation (ALL dollars and coins) = 1102 Billion (about 12% of bank deposits) FDIC Insurance Fund = 0.025 Billion (about 0.00027% of bank deposits) ------------------------------------------------------------- My conclusion: The FDIC Insurance Fund - it may blow out the match, it wont put out the forest fire. For every $250,000 deposit in the bank, the FDIC insurance is worth 68 cents.....
You got it wrong, very wrong. I NEVER take a position just to be a contrarian. Furthermore, I have posted many links to articles which forecast a downturn in gold and silver by people who's financial creds are at least as worthy (and often more so I would argue) as any of those people who write articles claiming that tomorrow gold and silver will shoot past the moon....all the while they are planning on unloading silver to those who they stir into a feeding frenzy. What I have stated is absolutely true (the reason I challenge the permabulls). The fact that some who personally benefit from selling the bridge to nowhere to anyone they can get over on may get upset with me that I bring levity to a one-sided discussion....that's a deficit they have to wrestle with in their own conscience.
Are you a long term or short term holder of physical? LONG TERM Before this take down, did you have strong convictions for holding silver? I was cautious and bought in paper stocks around the DJIA crash and have done well there. I've been monitoring silver and waiting for what I thought was a smart buy-in pricepoint based on some technical aspects of the run-up curve and the likelihood for sideways tunneling. I always wanted to get a stack going, but only at a price that I felt was in-line. Are your convictions strong still to hold? Yes, I think we're in a good buy spot at this point. I'm someone who feels, given the price of crude oil, and other factors that we're unlikely to see sub-$15 price points. I don't think there's any chance we'll see oil at less than $50 for the foreseeable future. Sub-$15 silver is possible but quite unlikely I think. I think there's value to be gained in paper as long as the QE-pumping is going forward, but I recently moved a big chunk out of paper and into silver, when Gentle Ben burped and mentioned pulling back off of QE. (Of course, he then turns around and says "Never mind. Just kidding.") I'm still expecting a correction in paper sometime this year, but I think silver in the $18 range is a great buy for the long-term. I expect something will happen with the currency before too much longer (maybe 5-10 years, could be as few as 3-4 perhaps), and the big guys will need to change the rules or the game completely to deal with it. Have you questioned your decision to hold silver during this take down? (Even a little?) No, I still think it's long term smart position for a good chunk of your investment. Have you sold or added any due to the take down in price? I added another 500 oz to the stack at about $19.70 in the past month. If it goes to $18 I will add another amount to the stack, depending on what other investment classes look like at the time. Again, I'm a newbie stacker but longtime investor. I remember as a college kid in the mid-80s studying economics and looking at the gold markets and saying "$300 per ounce - geesh that's a lot of money." I hadn't felt the need to actually hold the physical metals until the last few years. I always assumed SOME adults would come in and fix this insanity at some point, but I keep being surprised that they just keep kicking the can down the road. I'm looking into buying some land too at this point, because these phoneys seem intent on driving the bus right over the cliff. Will they do anything to change the status quo? My goodness.
I also picked up some warbirds..those are pretty cool rounds. I missed out on the Cannabis rounds and was so mad at myself. I am holding long term. still bullish long term. I have been buying weekly sometimes daily. I have only sold numis to buy more numis or buy more bullion. Pandas have treated me well in this down trend.
1. Give some examples of those who forecast a medium to long term bear market for PMs going forward. 2. Give some examples of those who forecast a medium to long term bull market for PMs going forward. Now according to you those in group 1 are "more worthy" forecasters than those in group 2 ... Just to put your assumption into perspective, please remind us all how many of those in group 1 forecast the GFC before it actually went down? And ditto for group 2 ... Well that's not a given by any means. :lol:
