Is Silver screwed?

[sammysilver]

In a contest where economy vs silver, I would put my money on silver. Correction, I have put my money on silver.

The same old question, why do you stack? If for investment, this is the wrong forum. If for stacking, for whatever reason, this is the right forum.

Silver can't be screwed, not unless you make a silver screw! Silver is silver, as gold is gold, each with its own intrinsic value. They are measured against each other within the GSR. A stacker measures fiat against the metals, while an invested measures metals against fiat.

If investors think silver is screwed, then be true to your heart, sell up and move on. Stop pissing in the stackers' pockets. What I have noticed on this forum, when a stacker becomes disillusioned, they have the grace to sell up, shut up, and move on.

 

[Cheepo]

Okay main point:

In the event of an economic collapse, do you really think people will buy silver?

Silver got smashed during the GFC, and so people think its going to get smashed again, and so self-fufilling prophecy and all that, silver will get smashed.

I seriously cannot past this.

What are you talking about, price got smashed during the GFC. Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. Silver was then at $12.62. In the months that followed there was the fear that the world financial system would collapse, and silver went up to $48 (4 times more!). PM thrives on fear. It is the improving economy that we can expect in the near future which drives the price down.

In the months that followed?
You mean, in the years that followed?
It took the silver market people over 3 years to drive the price from $10 to $50.
Together with stocks, and oil, and whatever else out there?
http://finviz.com/futures_charts.ashx?p=w1
The economy DID improve. Recession US, so called 'The Great Recession', is past period, not a present/ongoing period. And silvers price was indeed driven down.
So if one is turning the world upside down, it's you. Or do you live in the past, explaining your 'we can expect'?

Yes, in the years that followed. Of course the price of a commodity is not going to go x 4 in a few months! Duh! Yes, it took a few years. When it became obvious that the economy was improving, the price of silver started to drop.

It took 9 years (from 1971 to 1980) for silver to go from 7.67 to 103 (x 13), and it took another 10 years (from 1980 to 1990) to return to 7.1.

It took 8 years (from 2003 to 2011) for silver to go from from 5.56 to 49 (x 9), and it will take another 8 years (from 2011 to 2019) to return to 6.

Wanna bet?

 

[Cheepo]

In a contest where economy vs silver, I would put my money on silver. Correction, I have put my money on silver.

The same old question, why do you stack? If for investment, this is the wrong forum. If for stacking, for whatever reason, this is the right forum.

Silver can't be screwed, not unless you make a silver screw! Silver is silver, as gold is gold, each with its own intrinsic value. They are measured against each other within the GSR. A stacker measures fiat against the metals, while an invested measures metals against fiat.

If investors think silver is screwed, then be true to your heart, sell up and move on. Stop pissing in the stackers' pockets. What I have noticed on this forum, when a stacker becomes disillusioned, they have the grace to sell up, shut up, and move on.

So you mean that only people who talk silver up, up, and always up, are welcome on this forum? I think it's also useful to point out (specially to newbies) that investing in silver is also risky.

 

[Pirocco]

In a contest where economy vs silver, I would put my money on silver. Correction, I have put my money on silver.

The same old question, why do you stack? If for investment, this is the wrong forum. If for stacking, for whatever reason, this is the right forum.

Silver can't be screwed, not unless you make a silver screw! Silver is silver, as gold is gold, each with its own intrinsic value. They are measured against each other within the GSR. A stacker measures fiat against the metals, while an invested measures metals against fiat.

If investors think silver is screwed, then be true to your heart, sell up and move on. Stop pissing in the stackers' pockets. What I have noticed on this forum, when a stacker becomes disillusioned, they have the grace to sell up, shut up, and move on.

So you mean that only people who talk silver up, up, and always up, are welcome on this forum? I think it's also useful to point out (specially to newbies) that investing in silver is also risky.

Useful?
Again, where were you, at $50? At $40? At $30. Now you're here, at $20, announcing lower.
That's what I've seen people that mislead do.
They didn't do what they THEN suggested others to do.
They did THEN the opposite.
So your 'you mean' is a strawman. You didn't answer. You changed what was said, 'answered' thus yourself, as to avoid answering what WAS said.
Sammysilver says here that this forum is for stackers not for 'investors'. That's at least what the name suggest.
Not that I agree with that, I don't bother if someone that cultivates potatoes also talks here. But there are pretenders out there, that aren't what they seem to be.
So I do agree with the last sentence, you say you think silver is 'screwed', well move on. You say you're here to warn. Your warning is as late as a pee in the pants, where were you, when the pants dry and the pressure increasing? Oh right, you were the one increasing the pressure, didn't suit your vested interest?
What was your alias at $50? Expenso? Maybe we should search for old posts from Expenso, to read about heaven and the moon!

 

[Slam]

What are you talking about, price got smashed during the GFC. Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. Silver was then at $12.62. In the months that followed there was the fear that the world financial system would collapse, and silver went up to $48 (4 times more!). PM thrives on fear. It is the improving economy that we can expect in the near future which drives the price down.

In the months that followed?
You mean, in the years that followed?
It took the silver market people over 3 years to drive the price from $10 to $50.
Together with stocks, and oil, and whatever else out there?
http://finviz.com/futures_charts.ashx?p=w1
The economy DID improve. Recession US, so called 'The Great Recession', is past period, not a present/ongoing period. And silvers price was indeed driven down.
So if one is turning the world upside down, it's you. Or do you live in the past, explaining your 'we can expect'?

Yes, in the years that followed. Of course the price of a commodity is not going to go x 4 in a few months! Duh! Yes, it took a few years. When it became obvious that the economy was improving, the price of silver started to drop.

It took 9 years (from 1971 to 1980) for silver to go from 7.67 to 103 (x 13), and it took another 10 years (from 1980 to 1990) to return to 7.1.

It took 8 years (from 2003 to 2011) for silver to go from from 5.56 to 49 (x 9), and it will take another 8 years (from 2011 to 2019) to return to 6.

Wanna bet?

Did your wage increase these years?

Look at all the crap out there you can buy with your disposable income. If you work, you have means of excess productive capacity for you to spend. This is why people look for investments and chase those ever last returns to keep up with the expanding monetary supply. Surprisingly the banks have created such products like derivatives to soak up all this conjured cash that is around.

PMs can and will go up and down. The end game is where it stops, if it goes to $6, well technically that means the economy is doing so well I should be on a $200k salary. What this also may mean is that fiat currency still has perceived value. Well the game goes on longer. This will make my disposable income much higher for me to stack more for my kids, grandkids.

Look on the bright side, our standard of living has increased a hell of a lot compared to 200 years ago. This is all thanks to the current currency system we have. But how long can this go on for at the expense of our earth / natural resources.

Slam

 

[Cheepo]

Useful?
Again, where were you, at $50? At $40? At $30. Now you're here, at $20, announcing lower.

Uh? What's your point? I should have been here, warning people? When silver was $50, 40, I thought that people were crazy at buying into a bubble. When it was $30 I thought it's finally coming down, and it will make more sense to buy.

That's what I've seen people that mislead do.
They didn't do what they THEN suggested others to do.
They did THEN the opposite.
So your 'you mean' is a strawman. You didn't answer. You changed what was said, 'answered' thus yourself, as to avoid answering what WAS said.

Say what??

Sammysilver says here that this forum is for stackers not for 'investors'. That's at least what the name suggest.
Not that I agree with that, I don't bother if someone that cultivates potatoes also talks here. But there are pretenders out there, that aren't what they seem to be.
So I do agree with the last sentence, you say you think silver is 'screwed', well move on. You say you're here to warn. Your warning is as late as a pee in the pants, where were you, when the pants dry and the pressure increasing?

I said that silver is "screwed"??? When???? It makes sense to buy silver, and if the shop was closer I would have bought some already. But it takes me 1 hour to go down to the Kitco shop, and another hour to come back. If I take the bus. And that's during office hours, when I am supposed to be working. If I take a taxi it costs me HK$300. So I wait for the price to drop a bit more, to make it more worthwhile.

Silver is screwed???? How can silver be screwed. The fact that the price of silver will drop by another 50% doesn't mean it's screwed. It means its overvalued right now. And I think it's useful for silverstackers to hear a different part of the story, and not just 'buy silver, it will go up, up and up. Put all your savings into silver, and when you retire you will be rich, rich and rich.' Yeah right. The last thing you should do with your retirement money is buy silver. But if you want to buy some for fun, go ahead. Just don't expect to make money with it, and don't put all your savings into it. That's all. And yes, I think it's useful to tell people this.

And sorry if I am late warning . Dude, I don't work for you!

Oh right, you were the one increasing the pressure, didn't suit your vested interest?
What was your alias at $50? Expenso? Maybe we should search for old posts from Expenso, to read about heaven and the moon!

I never used a different alias than Cheepo, and I have no idea who Expenso is.

 

[wrcmad]

In a contest where economy vs silver, I would put my money on silver. Correction, I have put my money on silver.

The same old question, why do you stack? If for investment, this is the wrong forum. If for stacking, for whatever reason, this is the right forum.

Silver can't be screwed, not unless you make a silver screw! Silver is silver, as gold is gold, each with its own intrinsic value. They are measured against each other within the GSR. A stacker measures fiat against the metals, while an invested measures metals against fiat.

If investors think silver is screwed, then be true to your heart, sell up and move on. Stop pissing in the stackers' pockets. What I have noticed on this forum, when a stacker becomes disillusioned, they have the grace to sell up, shut up, and move on.

So you mean that only people who talk silver up, up, and always up, are welcome on this forum? I think it's also useful to point out (specially to newbies) that investing in silver is also risky.

Useful?
Again, where were you, at $50? At $40? At $30. Now you're here, at $20, announcing lower.
That's what I've seen people that mislead do.

BS.
That wasn't misleading. It was damn good advice that, had it been followed, would have saved a lot of pain.

 

[worldbubble]

Useful?
Again, where were you, at $50? At $40? At $30. Now you're here, at $20, announcing lower.

Uh? What's your point? I should have been here, warning people? When silver was $50, 40, I thought that people were crazy at buying into a bubble. When it was $30 I thought it's finally coming down, and it will make more sense to buy.

what you thought and what announced are two different things ))

 

[Pirocco]

By now it became quite clear who was right, didn't it?
Apparently alot managed to 'get out'.
It's that 'getting out' that brought the price down to $20.
Funny how few said they got out, while there must have been plenty, considering the removal of 20 price dollars, which corresponds to alike an entire annual world demand/supply.
I wonder if those that placed those flammatory critics, were among them. Wouldn't surprise me. And those with a big position, tend to sell a chunk, wait for others to buy the price again up, then sell another chunk, and so on. And then they transform from bull to bear, and laugh all the way to the bankruptcyhaha.

Fixed

Fixed again

 

[Pirocco]

So you mean that only people who talk silver up, up, and always up, are welcome on this forum? I think it's also useful to point out (specially to newbies) that investing in silver is also risky.

Useful?
Again, where were you, at $50? At $40? At $30. Now you're here, at $20, announcing lower.
That's what I've seen people that mislead do.

BS.
That wasn't misleading. It was damn good advice that, had it been followed, would have saved a lot of pain.

But the advice didn't leave the mouth.
It was all ssshht and to da moon then.

 

[sammysilver]

So you mean that only people who talk silver up, up, and always up, are welcome on this forum? I think it's also useful to point out (specially to newbies) that investing in silver is also risky.

You exaggerate, diminishes your argument. However, your premise that silver is risky is correct.

 

[Pirocco]

So you mean that only people who talk silver up, up, and always up, are welcome on this forum? I think it's also useful to point out (specially to newbies) that investing in silver is also risky.

You exaggerate, diminishes your argument. However, your premise that silver is risky is correct.

It's certainly less risky than it has been during the $20-$50-$20.
Only that when you visited forums back then, you didn't see much talk about risk.
To da moon!
Train leaving the station!
Get rich!
Buy a houseblock with an ounce!
And now, at $20, after they dumped, they....start to talk about risk.
But alot of the risk, went with their heels, haha.

 

[miniroo]

What about just forgetting about it?
it's history, yep we were all wrong. ok done.

Now, let's all start fresh, silver is US$19.30 right now.
that's good isn't it? we can buy lots and it may go up, it may go down, we could then buy lots more.
it's totally a positive time to get into silver, well, select silver that may appreciate if silver's price stays put for the next 10 years.

I don't know what benefit it is to write about the past, it's definately boring to read, I wish we were back at that time of $35 silver,
everyone was fun and stacking was interesting, today it's like going into battle on here almost.
this should be a buying frenzy for old stackers to balance the average, and a wake up call about what to buy in future.

If you stacked bars then you definately lost, if you picked the right stuff, the numi' premium has probably absorbed a lot and your probably even.
so it's all up from here, get out there and buy stuff, come back and tell us how happy you are.

 

[Hugh Mann]

Indeed, now would be a great time to buy some more silver to lower the cost average, I saw 19.27 there for a while this morning, and every confidence that we`ll see it again soon and maybe even lower perhaps?

if I`d got any disposable cash left, I`d certainly buy another Kg or 2.
I`m sure it`s just a Blip and not an actual Trend, but certanly one to take advantage of if you can.

 

[hihosilver]

I find it interesting that on most forums now the general discussions (re:- pm or stocks) are views of depression/hope where as about 2 years ago it was all optimistic/buy/buy/buy views. This is where the bump is in the road I reckon, and no doubt there will be many many more. Let's all face it - it can not all be smooth sailing. We (that is, the above $30.00 club are suffering big time) so any one who is moaning at these prices should be dancing on the ceiling. I'm long with PM so I don't mind.

 

[Hugh Mann]

just went down to 19.03!
ok, it just cleaned me out on margin calls, but it would be a good time to buy!

 

[Pirocco]

I find it interesting that on most forums now the general discussions (re:- pm or stocks) are views of depression/hope where as about 2 years ago it was all optimistic/buy/buy/buy views. This is where the bump is in the road I reckon, and no doubt there will be many many more. Let's all face it - it can not all be smooth sailing. We (that is, the above $30.00 club are suffering big time) so any one who is moaning at these prices should be dancing on the ceiling. I'm long with PM so I don't mind.

It just shows that doing the opposite of what is touted as the way to go, is the wisest decision. And if you dare to say it openly then, you're treated like you peed in a holy church haha. Remember those Rawdog stories? Except from forum talk about it, I know nothing about him, but it catched my eye that he seemed to have made those wiser decisions, and also said it openly at the very moment, and it surely received some heat probably from competition that didn't pass the sell button yet haha.
It's not a metal that is screwed, it's people that are screwed, and not relying on vested interest blabla is no luxury if you wanna have done better than a bank account.
This evening again a useful information piece.
Recent days were funny on auction sites. Alot pms for sale, especially gold. I've seen such frenzies before, but this one appears as quite intenser. Alot bidders, but yesterday they like lost their guts, my bids on junk here and there stayed highest. Then today, the price shot up, and guess what, in the hours after it my mailbox was flooded with reports of higher bids.
See, they need to see an uptrend before having the guts to bid. I don't. Sometimes it costs me abit more, but on average, it costs me much less. My first 2014 purchase concentration, couple months ago, was a big lot 90% junk, price per coin 13 euro. They didn't have the guts to bid back then, and now they bid 15 euro. That's even way more than bullion silver at a dealer. It's haha. Yet, it's better than my average, I started paying 19 euro (years ago), then 18, then 17, then 13 and now I try 12, with only 2 coins bought so rather a fail. So far...
Even if I wanted, I couldn't have bought today at that $19, not at home then. But as said... patience... If I see reason to revert to speedy gonzales, I'll do so, but next years appear to me as the crab walk.

 

[hihosilver]

I find it interesting that on most forums now the general discussions (re:- pm or stocks) are views of depression/hope where as about 2 years ago it was all optimistic/buy/buy/buy views. This is where the bump is in the road I reckon, and no doubt there will be many many more. Let's all face it - it can not all be smooth sailing. We (that is, the above $30.00 club are suffering big time) so any one who is moaning at these prices should be dancing on the ceiling. I'm long with PM so I don't mind.

It just shows that doing the opposite of what is touted as the way to go, is the wisest decision. And if you dare to say it openly then, you're treated like you peed in a holy church haha. Remember those Rawdog stories? Except from forum talk about it, I know nothing about him, but it catched my eye that he seemed to have made those wiser decisions, and also said it openly at the very moment, and it surely received some heat probably from competition that didn't pass the sell button yet haha.
It's not a metal that is screwed, it's people that are screwed, and not relying on vested interest blabla is no luxury if you wanna have done better than a bank account.
This evening again a useful information piece.
Recent days were funny on auction sites. Alot pms for sale, especially gold. I've seen such frenzies before, but this one appears as quite intenser. Alot bidders, but yesterday they like lost their guts, my bids on junk here and there stayed highest. Then today, the price shot up, and guess what, in the hours after it my mailbox was flooded with reports of higher bids.
See, they need to see an uptrend before having the guts to bid. I don't. Sometimes it costs me abit more, but on average, it costs me much less. My first 2014 purchase concentration, couple months ago, was a big lot 90% junk, price per coin 13 euro. They didn't have the guts to bid back then, and now they bid 15 euro. That's even way more than bullion silver at a dealer. It's haha. Yet, it's better than my average, I started paying 19 euro (years ago), then 18, then 17, then 13 and now I try 12, with only 2 coins bought so rather a fail. So far...
Even if I wanted, I couldn't have bought today at that $19, not at home then. But as said... patience... If I see reason to revert to speedy gonzales, I'll do so, but next years appear to me as the crab walk.

/\ Piroco, I think I agree :/ I used to enjoy rawdog for pure entertainment but that was about a year ago now and haven't watch him since. He has more come backs than a heavy weight boxer :lol:

 

[Cheepo]

Indeed, now would be a great time to buy some more silver to lower the cost average, I saw 19.27 there for a while this morning, and every confidence that we`ll see it again soon and maybe even lower perhaps?

if I`d got any disposable cash left, I`d certainly buy another Kg or 2.
I`m sure it`s just a Blip and not an actual Trend, but certanly one to take advantage of if you can.

Of course it will go lower. Every bubble bursts sooner or later.

A blip or a trend? A 3-year long blip isn't a blip, it's a trend!

Look, do like me. Open the Kitco chart and take a ruler. Now draw a straight line from the April 2011 top to every top since then. You will find that in July 2015, silver will be sold for $10/oz. And since it will drop to $10/oz, why not wait before buying?

Of course you can say that the price of silver will double within two weeks, and reach $500/oz by year end, and I have no way to prove you wrong. But look, would you rather expect a price trend that has gone on for 3 years to continue, or would you expect it to revert? I remind you that the 2011 bubble was a bubble caused by fear in the collapse of the financial system (in the same way as the 1980 bubble was a bubble caused by fear of the collapse of the financial system, and very high inflation in the late 1970s).

But now you have a 3-year long trend, the economic situation is improving, we are set to have higher interest rates, etc. All these things (in addition to my ruler) indicate that the price of silver will drop. So why not celebrate the fact that you can buy double as much silver for your money, and wait for a year before buying????

 

[worldbubble]

Pirocco,
auctions are different endeavor ...
my last best purchase is 2 oz 999 coin for $15 shipped ... 2nd best is 4 oz of silver for $40 shipped (both happened with last month) ... these are auctions that not happen every day ... the very same coins are selling for $85-90 for the lots now

when silver was higher the case with auctions was the same - sometimes there are no buyers/bidders