I remember the time when 1 oz silver cost 45 $...

[mmissinglink]

The dollar is being manipulated. 4 bank panels that set spot price around the world, stopped doing that this year.
Arabs are threatening to stop selling oil for dollars. Hang onto your PMs.

Not gonna happen. Iraq tried and it's quite obvious how it has ended.

Not only Iraq tried but of course Libya's Gaddafi tried and the U.S. had him murdered....


[youtube]http://www.youtube.com/watch?v=GuqZfaj34nc[/youtube]




The USD will be king for a very long time, like it or not.


There's manipulation of every commodity and asset...there's nothing unique about precious metals manipulation. The odd thing is that some people believe that silver price is manipulated only to the down side....they believe that when miners can produce silver at under USD $10 / oz that it's fair market value is 100's of USD $ an oz.

Boy I got a bridge to sell these people.



.

 

[Skyrocket]

The USD will be king for a very long time, like it or not.

I don't know about that. Countries are already starting to move away from the USD and trade in their own currencies. Also, BRICS is now on the scene too.

 

[phrenzy]

I'm not sure we'll have to wait so long. This are definitely speeding up now. I don't like the fact that there are dark days ahead but there are. Greece is a sideshow that is mostly relevant for it's political implications and the idea that it's the Canary in the coal move that might put the idea of western nation default into the the heads of investors. However, Japan is not a sideshow, they are in serious trouble and facing a bond rating downgrade, that's really serious. Does anyone really expect Japan, with it's aging population and increasing Chinese competition, to grow it's economy enough to ever even balance their current budget? Their future budget with increased social welfare needs of aging citizens and increased defence expenditure? To fill the gap in their stock and bond markets as retirees draw down on it? To even meet their interest obligations on top of balancing their projected budgets is all but unthinkable and that's before you talk about paying it off.

The exact same questions have to be asked of bigger European economies that do intrinsically matter like Italy and Spain, the EU launches a 50B a month bond program and nobody even blinks. Then of course there is the US, exact same questions, I have never heard anyone explain how the US will ever be able to pay off it's debt without some crazy form of money printing. With their massive and increasing debt even small increases in interest rates are going to be painful, they are caught in a trap where they have to raise rates a little because it's not actually facilitating helpful access to credit for the real engine of the economy, small and medium businesses and farms and also because keeping it low looks bad, makes it look like they are still in crisis mode, but fed rates at some ridiculous figure like 3.5% would kill the US economy right now, that tells you something is wrong.

Unless you have a good answer for how all this plays out in a safe way then you should be stacking. Not at any price though, it never ceases to amaze me when people say they count ounces not dollars spent, what a stupid idea, for now at least you'll be counting more ounces in your stack if you pay attention to the dollar price when you buy your metal. Silver could go lower, I really don't think $10 is on the cards but I wouldn't be shocked to see it at $13.50usd in 3 months either.

This is the thing that drives me crazy about Mike Maloney et al. They are always trying to preempt the big one so they can be the prophet of doom, such nonsense. We all know that there is a massive underlying problem with most of the major world economies, it's obvious and there is no obvious solution, but saying it's next week every week is completely unhelpful. When the end really is neigh you will definitely not need anyone to tell you, it will be completely painfully obvious, but that could be years away.

Buy PMs for the broader trend, buy when it looks cheap and don't stress every weekly or monthly price action unless you are using it to trade on. Even in the craziest bear prediction that's the worst case scenario we're only 30% from the absolute potential bottom in USD terms and in that scenario the aud is probably at about 65c which means we're only about 20-25% from the worst case aud scenario, at that point mines are shutting down left and right and supply is frogged for years. Somewhere soon silver has to put in a solid bottom and in the meantime any one of about a dozen things could trigger a PM price wise. Don't drink the kool aide but don't lose the faith either.

 

[Jim4silver]

To those who bought silver at say $35, $40, $45, etc., what is it about silver that you liked at $45 that you don't like now that silver is $15? I didn't buy (stack bullion) silver over $20 on the run up to $50 in 2010 to 2011, in that I was buying other investments at that time and thought anything over $20 was too much. But I did start buying a little on the way down from $50, too soon it seems, as silver dropped below $26.

I wonder what has changed in the world that made silver great at $40+ but bad at $15 and below?

Jim

 

[tolly_67]

The potential to see a gain in a short time, regardless of the intention to sell or keep.
There is nothing better than seeing an investment rise soon after purchase.
There is nothing worse than looking at a potential investment and seeing the likelihood of a fall before a profit is seen.

 

[mmissinglink]

To those who bought silver at say $35, $40, $45, etc., what is it about silver that you liked at $45 that you don't like now that silver is $15? I didn't buy (stack bullion) silver over $20 on the run up to $50 in 2010 to 2011, in that I was buying other investments at that time and thought anything over $20 was too much. But I did start buying a little on the way down from $50, too soon it seems, as silver dropped below $26.

I wonder what has changed in the world that made silver great at $40+ but bad at $15 and below?

Jim

It's not about what you like or don't like about silver....it's what you may have learned. I think plenty of new stackers were hoodwinked into believing the lies of the permabulls (intentional misleading)....I see a lot of resentment that then new stackers now have, those who fell for the fear mongering and the fallacious claims....I hold some of that resentment as someone who was buying at around $36 / oz because I thought the decepticon permabulls were speaking truth to power instead of what they were actually speaking....pure b.s.



Silver is a good buy when it serves the intended purpose of why you bought in the first place....it's a bad buy when it doesn't.




.

 

[-j-p-shmorgan]

Accumulate as much as possible at any price.
We have to remember that the silver price & dollar "value" are heavily manipulated.
It will have it's day in the sun again, and next time around you'll be glad you kept buying at $50/oz.

 

[Jim4silver]

I know some who bought PM's at high prices like to blame "permabulls", "pumpers", PM bull websites, etc., as the reason/cause for their purchase of silver/gold at a high price. But if you step back and look at this, you see that anyone who says this is really just passing the blame for their own bad investments. If someone who is an adult, and of sound mind, is that easily led astray by reading something on the internet (and not evaluating it with their own knowledge), then perhaps said person should consider having a guardian appointed to handle their finances. Perhaps if hypnosis was employed, I could see that blame might belong elsewhere. Or taking advice from someone you hire for financial advice or from a trusted parent or relative could be an excuse too I guess. Short of that, it's on the person buying the metals plain and simple.

You see, I used to love to read the pro PM bulls on the internet and I believed most of what I heard (and still do in part) and perhaps my decision-making was influenced by some of them at times. But at the end of the day what they were saying resonated with me and matched my own views and observations (correct and/or incorrect). I was not a PM bear that was talked into PM's or led astray by the big bad wolf PM bull. I still believe much of what they say will come to pass eventually.

Some PM pundits profit from selling PM's and such, and perhaps one should take that into account when evaluating their advice.
I don't know any online pundits personally, but most PM coin dealers I know (who do profit from PM sales) are addicted PM bugs and have much of their own personal wealth tied up in PM's. They are walking the walk, so to speak. So just because someone profits from the same area upon which they pontificate, it doesn't mean they are lying (even though their advice turns out to be wrong).

I don't mean any insult to anyone. But it seems kind of strange that someone on a PM site could be assumed to be a "pumper" or some other type of fraudster for professing an admiration for PM's and a belief their price will go up (a lot) someday.

Just my opinion.

Jim

 

[SpacePete]

?..
I don't mean any insult to anyone. But it seems kind of strange that someone on a PM site could be assumed to be a "pumper" or some other type of fraudster for professing an admiration for PM's and a belief their price will go up (a lot) someday.

"Pumper" is usually reserved for those who seek to profit from knowingly misleading their audience.

 

[sterling-nz]

I know some who bought PM's at high prices like to blame "permabulls", "pumpers", PM bull websites, etc., as the reason/cause for their purchase of silver/gold at a high price. But if you step back and look at this, you see that anyone who says this is really just passing the blame for their own bad investments. If someone who is an adult, and of sound mind, is that easily led astray by reading something on the internet (and not evaluating it with their own knowledge), then perhaps said person should consider having a guardian appointed to handle their finances. Perhaps if hypnosis was employed, I could see that blame might belong elsewhere. Or taking advice from someone you hire for financial advice or from a trusted parent or relative could be an excuse too I guess. Short of that, it's on the person buying the metals plain and simple.

You see, I used to love to read the pro PM bulls on the internet and I believed most of what I heard (and still do in part) and perhaps my decision-making was influenced by some of them at times. But at the end of the day what they were saying resonated with me and matched my own views and observations (correct and/or incorrect). I was not a PM bear that was talked into PM's or led astray by the big bad wolf PM bull. I still believe much of what they say will come to pass eventually.

Some PM pundits profit from selling PM's and such, and perhaps one should take that into account when evaluating their advice.
I don't know any online pundits personally, but most PM coin dealers I know (who do profit from PM sales) are addicted PM bugs and have much of their own personal wealth tied up in PM's. They are walking the walk, so to speak. So just because someone profits from the same area upon which they pontificate, it doesn't mean they are lying (even though their advice turns out to be wrong).

I don't mean any insult to anyone. But it seems kind of strange that someone on a PM site could be assumed to be a "pumper" or some other type of fraudster for professing an admiration for PM's and a belief their price will go up (a lot) someday.

Just my opinion.

Jim

Of course they are just blaming others for the OWN mistakes.
But these guys spin really believable stories and state (out of context) facts to back their stories.
I am far to cheap to pay spot and have plenty of time with a 2 year old to go out and find great deals to flip, so if silver goes to $5 i may very well still be up.
The problem as i see it (and have mentioned earlier in this thread) is the new stackers are looking for confirmation of what they are doing and go running to the Balonies, Duanes and Schiffs to validate their reasons .
Can you recall Jim when you first started stacking?
The rush you would get when you had a new purchase and the thrill of KNOWING that if SHTF then your family will be safe as you HAVE SILVER AND GOLD.
It is only when the price drops and some goto sell their PM"s and find even the "rarest bullion" only gets just below or just above CURRENT spot that reality sinks in

 

[Silverpv]

I'm a new buyer of silver, and a first time poster, i wouldn't call myself a stacker yet. I see opportunity currently as prices have fallen. I agree with everyone who mentioned there's an underlying monetary problem that will eventually have to be paid. I am still slightly bullish on certain equities but I am also looking at PM's as a hedge. I also agree I don't see silver falling to $0 since it has many purposes, but I am trying to figure out when to buy more. Hindsight is 20/20 but the future is never clear when it comes to timing. I see there's a consensus that the metal will likely drop more but I figure entering right now is not that bad of a deal, still better than others starting earlier. The grass is always greener on the other side.

Since there are different levels of "stacking" I'm looking at the semi-numis and generic bullion, once again to hedge within the realm. If silver remains stable, the numi's do well. If silver is volatile and there's a crash, silver overall will do better including the semi-numi's, but the premium will be a lot lower but there will still be a premium. Those looking to take advantage during a crisis, profit greatly during/after the recovery. I do not believe there will be total chaos where silver is silver and all silver will be melted down for its intrinsic value, at least in the US. We're taught to prize materialism and capitalism.

Anyhoot, I've been snooping around and thought this was a good discussion as I am studying about the big drop in the past. The hard part is selling when its time to sell and not having an emotional attachment to a piece of metal. Doing so makes watching the rise and fall that much more painful until it rises again.

 

[SilverDJ]

Well, who would have thought it would go down to 15 $? :/

Anyone with an ounce of cautiousness who looked at the rapid rise in the price graph:

 

[-j-p-shmorgan]

$8 silver, here we come!!!

 

[Skyrocket]

$8 silver, here we come!!!

You would like to see that?

 

[-j-p-shmorgan]

$8 silver, here we come!!!

You would like to see that?

This whole price suppression crap isn't over yet.
They are clearly SLOWLY bringing prices down...as slow as humanly possible.
A clear disconnect from spot prices & the demand.

I'm pretty comfortable not investing any more until I can see at least SOME type of strong support.
$15 USD got shattered with ease. I doubt it goes below $13 USD, but at the same time, these corrupt banks could make it $5.

The USD is the world's reserve currency, and with all the global economic problems, it's strengthening the dollar.
Don't worry about inflation, or QE infinity!!!!! The dollar is soooooo strong! psh. It's all hog wash.

Personally, I don't care if silver is $5, or $25. I'm in a very long position w/ PMs.

 

[Skyrocket]

I thought you were beginning your stack and would love to see $8 silver. That's what I meant/thought. I only been stacking for a year so I would love to see $8.

 

[SpacePete]

Good points above. It's important to differentiate between those who genuinely advocate PMs, and those who simply seek to profit from the naivety of others.

Everyone on the forum is in the genuine camp (I'd guess) whether the arguments are for or against PMs. We can be bullish or bearish, but I haven't seen any overt pumping behavior (unless I overlooked it).

 

[SpacePete]

I thought you were beginning your stack and would love to see $8 silver. That's what I meant/thought. I only been stacking for a year so I would love to see $8.

Me too People in it for the long-term love opportunities to accumulate more

 

[-j-p-shmorgan]

I thought you were beginning your stack and would love to see $8 silver. That's what I meant/thought. I only been stacking for a year so I would love to see $8.

Same, I'm just holding off so I can buy more OZ with the same amount of cash.
$8 silver wouldn't bother me any. My future kids will appreciate the accumulation. lol

 

[Ronnie 666]

What are the chances of silver at $8 and you can find any to buy ? Been there done it and you won't.