He says historically when the metals have tested a lower level 2,3, 4 or more times a 100-150% increase in price is in order. Watch from 12:27 onwards.. [youtube]http://www.youtube.com/watch?v=zn9cGdDY8eI&feature=related[/youtube] http://www.youtube.com/watch?v=zn9cGdDY8eI&feature=related
Thanks for posting. Personally, I am now skeptical of Bob's short term silver calls. His last call in April was that silver would go straight through $50 "....like a hot knife through butter."
And if there hadn't been a rapid series of five margin increases by the COMEX, chances are he would have been right!
I have little or no interest in the SHORT term values of PMs. I am ONLY interested in what happens to PMs from the day after the SHTF event, and for the years after that. I do not expect to sell my first ASE or CML for at least a year, hopefully MUCH longer. It will depend on the circumstances. I do not expect to sell the big bars until after some form of 'Gold/Silver backed currency' is introduced. I can wait. OC
The guy who constantly talks about the silver market being manipulated didn't count on manipulation? He should have known what the Comex would do simply because last time silver reached those heights they did the same thing.
You are all quite right - if he thinks the silver market is manipulated he should actually state 'It will go through $50 if it is not manipulated'. Makes you wonder though what silver would have done without the manipulatuon! By the way - are those big margin calls that were put on in May still in place?
Soon, certainly after the SHTF, manipulation will be of no or little consequence. It will be 100% supply and demand. OC
Is he known to be credible? What is his background He just seems like some nobody who makes random guesses like the rest of them
Hello OC - have been reading your posts with interest - was just wondering if you'd care to share your views on the warning signs that you believe will be at the start of the SHTF event? When it costs over a hundred dollars to buy a loaf of bread? When you have to take out a loan to fill up your car with petrol? When mass-scale hoarding of foodstuff and water become apparent?
Platiplaty, "was just wondering if you'd care to share your views on the warning signs that you believe will be at the start of the SHTF event? When it costs over a hundred dollars to buy a loaf of bread? When you have to take out a loan to fill up your car with petrol? When mass-scale hoarding of foodstuff and water become apparent?" Gee! I wish I knew the answer to that question! There are just so many variables and possibilities to it. I doubt it will be a single trigger like OPEC or the Chineses selling all their US Bonds on the marketat once, like portrayed in 'Rollover'. That would destroy the market, and make the Bonds worth 5 or 10 cents in the dollar, IF they are lucky. If I was forced to take a bet, i would probably say it will originate in Europe, revolving around the PIIGS and their loan merry-go-round that MUST stop soon. The Euro banks are BROKE, and it is all a charade there now propped up by creating more debt to support an UNsupportable debt problem. Which of course is what is happening in America! It could be something that surprises us all, like the loss of the AAA rating in the US which would trigger a mass sell off of pension fund Bonds as they are mandated to do by US law. Though of course the USA could always change the law to get around that. As for inflation, it is a sneaky thing and in the initial stages creeps up on people. I doubt we will see overnight doublings until we are well into HYPERinflation, and we will ALL know about it then. Sensible people that are buying PMs are not telling the neighbours about it, and they are probably also buying rice, pasta and Spam, and all the other things they will need for a YEAR or so. It will be THAT bad! I expect the government to declare a Bank Holiday, probably more than one, to stabilise the panic and may well declare a $100 limit on withdrawals for quite some time, perhaps years. My greatest fear is home invasion, I expect it to get that bad., so i am burying the PMs, and will very soon take up a 2 year contract at a storage facility. Small one of 1.5m x 3m, just big enough for about 20 or so archive boxes. I have a free standing pantry unit in the garage with 2 of everything you would find in a pantry. That is the 'decoy' for a home invader. I am a natural born pessimist, and will prepare for the worst and hope for the best, better to have too much than not enough. "hope this helps" OC
OC, what types of food do you suggest stocking up? Food that most people would normally eat so it can be rotated i.e. rice that most people would normally eat and as you eat it, keep replacing it with more so it doesn't go bad, as opposed to to MRE's that last up to 3 years.
Diablo, When I started, I gave consideration to shelf life and rotation and food value and how appetising it was etc. The very basics are of course rice, pasta, rolled oats and mueslui etc. To those i saved the things that go with them such as when making fried rice we use chopped Spam, dehydrated peas an carrots etc. With the pasta I have canned meat and sauce to top it off. And one I have recenly discovered is plain old Gravox on boiled rice, makes it much more appetising. Canned meat and vegies of course! All it needs is a bit of experimentation and thought. OC PS, When storing rice and wheat/flour/oats products, FREEZE them for 4 days before storage. Kills the weevil eggs. "store what you eat, and eat (in rotation) what you store"
Thanks. Didn't know about that trick above. Was asking my mom about storing beans, chickpeas etc and she talked about those little bugs growing in them after a while, I'll give it a try.
Diablo, In addition, I am buying such things as 1kg of rice, Pasta, and other stuff for BARTER. We have little or no room for a garden so will need spuds, onions, eggs etc from time to time. A 10 Kg bag of rice can be broken down into 500g zip bag lots. I bought a 10Kg bag at Woolies for $10 the other day. 'Womens stuff' will always be in demand too. As will toilet paper and soap and toothpaste. Mulitvitamins, pain killers, Band Aids, and all that stuff. OC
Yeah but Bob's been around awhile he should have known they would do that - and if he didn't he shouldn't be predicting anything to do with silver. +1 on the sceptical front here. edit: Realised a whole host of people beat me to pretty much the same comment.
Nope if he's correct I'll give him the benefit of the doubt and say he pulled his head out of his arse this time - don't you owe GP an ounce based on one of his predictions?