hehehe epic necro bump. Emotional rollercoster riding times. Not me though. I've got it all worked out
I hope the mines don't go broke and the banksters acquire it all, controlling the extraction, supply and price. I'd be surprised if they set gold at $300, but there's no way I could trust 'em, to sell to. Most mines have vast research and prospecting departments, which hold all their info. on the samples they have drilled, and when some areas become viable, at say, $35, then they'll go for it. Hope it makes it there, and the mines still have less debt, and not taken over !
I keep thinking about gold and silver stocks but then people talk about counter party risk on an SDB...it doesn't come more counter party risk than a pile of dudes in the outback pulling gold out of the ground and you're trusting them without oversight to declare everything they find without any oversight...did I mention nobody is there to make sure they don't pocket some reef nuggets...and then the regular risks involved with a small cap. Maybe a small cap gold miner ETF or fund of some other type. Do those pay dividends? Re the gold / silver price I did 90%of my buying between September and December last year, I knew if the price went sideways or even dropped the Australian dollar would kill any saving, so it was time to get in while the getting was good. The bottom would really really have to fall out of silver (or the USD against the aussie) for me to DCA down. I got high premium sweet kilos at $625. I don't see silver going so low that this sounds like a bad deal, we'd need to lose $3/oz before that buy started to hurt. Not al my kilos were that cheap but I'm not really that upset with the current price action, not partying with Amy Adams and Jennifer Lawrence on David Geffen's boat in the riverra because silver hit $5000 like zero hedge said it would, but not exactly feeling short changed.
I'd like to purchase direct from a mine ! cut out the brokerage premiums, and give it all, to the ones who need it. Fat chance that will happen though. glad we have good coin shops here though.
Yeah, when the time is right, I'll go into a junior gold miner etf like GDXJ and some good mid tier established gold producers with a solid balance sheet and proven and probable reserves. The return is magnified in the share price of the company when spot price is rising and gold is in a bull market. Then I'll close out my positions at a rate of 25% of my holdings for every 10% the gold spot price goes over the 2011 high using my profits to buy physical after each sell slowly reducing my counter-party risk until I have closed all my paper positions at around $2800 USD and only hold physical. I'll then blow all my profits on a faberge egg scam and get killed in a volley of gunfire with police.
Do you know what happens with any dividends? If they don't pay them out then I'd be pretty pissed if they charged upkeep fees.
Interest rates are "the price of money". If they go up, like central banks some are suggesting then may go down. Also silver is an industrial metal (like platinum) so is feeling the effect of weak economic growth. But on the flip side, if the SHTF, then price will rise significantly. Good inflation hedge to be a part of your portfolio
