Its been a while. If you haven't seen this, my scoop published two days ago was the first anywhere to include damming chat evidence of a multi year bank conspiracy to subvert gold prices, from filings in a New York court last week. http://comexwehaveaproblem.blogspot.com.au/2016/12/when-gold-goes-above-1430-we-whack-it.html My articles will also appear on my Twitter going forward as well.
With the price impact of the futures market as exception, noone can "whack down" a price without having it "wacked up" before. And that "UBS precious metal dealer", actually does the very same that about everyone on the speculation / saving market wants: sell high. Only that he might have (way) more market data avail and is smarter than speculating suckers.
Since now the conspiracy is revealed to us public, I wonder what will happen to the precious metal trading practice ? Does the large banks gets penalised or it is just business as usual ?
I think the days of Silver are numbered, and is likely to be entering long term gradual decline. There is just too much of it and a behave more like semi precious metal than precious metal. Gold I see it as a good hedge during short term market fluctions but you need to get on the high and off when the merry go round near the bottom to start the cycle again. Long term historically silver is a terrible investment or insurance/hedge. Short term some good money to be made.
That terrible investment of the eighties/nineties/early 2000 is so far followed by a decade of a tripled+ price. Those that bought that terrible investment of then, didn't do that bad. It's all about recognizing on the long term which price is low and which not. Alike in any market. I prefer a semi precious market above a precious. In the end, that's what inflation linking is, and what is hedged against.
Hm.. ok so in this case, Silver is still a good way to "preserve" your wealth for the long term ? Well if it is still not a good idea, at least it can be used as Werewolf deterrent
To me, at my age and investment strategy, the long term trend ie ten to twenty years, looks like its going down. Of course over the period prices will crash and spikes. Plus I dont adhere to the conspiracy, in fact I look at the volatility as a good bet in my trading. To be fair though I do look at PM slightly differently to my other speculative tradings as I like it as a hobby too. I have only being into it for a year, but the very predictable smack down has been good. Of course I've been caught out few times more more often than not, the smack down has being consistent.
