Price going to drop 30%, according to Yahoo finance

[SilverDJ]

I have only started buying the past few months so seems I am on a winner unless it drops another 30% in which case I am still better off than many others.

Me too, only started less than 2 months ago.
But having bought some of my silver at the bottom of each dip, I'm actually ahead on those. Some earlier stuff I'm not that far behind.
If the price does drop 30% (or whatever) then it provides even more incentive to buy more and average down even further.

Better start buying before that graph line dissipaters North above that border line Is there any numbers above that border line

When it was plummeting several weeks back I set myself a mental buy-in threshold of AU$200 for 10oz bar, but it never got there. Now it's way back up to $215 for the cheapest. It got to like AU$202 and I said, nope, nope, hold out for that value, and well, bummer. Still hanging out for this massive crash some say is coming...

 

[chowdersilver]

...I have only started buying the past few months so seems I am on a winner unless it drops another 30% in which case I am still better off than many others.

That's an excellent perspective. Even a 30% drop puts you ahead of others if there is serious economic turmoil.

I think of it this way: In case of economic trouble, I will lose value more slowly than others with cash in the bank or stocks. I'm not going to get rich from silver, I'll just get poorer slower.

And if the economy continues to boom and everything is fantastic, then we should have many opportunities to increase quality of life in other areas so holding some worthless silver will have been an entertaining sideline that didn't amount to much, but at least we had fun along the way, learnt a few things and met some good people.

I have been reading posts nearly every day for months and IMO, this is my POTY. It summarizes my feelings about this silver hobby exactly. I don't plan to make a dime off of silver, but I not only enjoy collecting it and moving the blobs from one box or album to another in endless organization, I also agree that it may have some role in reducing losses in a major financial crisis. I don't see a potential crisis like 2008, but rather an scenario where the dollar loses considerable strength.

Thanks for the great post Pete.

 

[chowdersilver]

...I have only started buying the past few months so seems I am on a winner unless it drops another 30% in which case I am still better off than many others.

That's an excellent perspective. Even a 30% drop puts you ahead of others if there is serious economic turmoil.

I think of it this way: In case of economic trouble, I will lose value more slowly than others with cash in the bank or stocks. I'm not going to get rich from silver, I'll just get poorer slower.

And if the economy continues to boom and everything is fantastic, then we should have many opportunities to increase quality of life in other areas so holding some worthless silver will have been an entertaining sideline that didn't amount to much, but at least we had fun along the way, learnt a few things and met some good people.

I have been reading posts nearly every day for months and IMO, Silver Pete's post exactly summarizes my feelings about my silver hobby. I don't plan to make a dime off of silver, but I not only enjoy collecting it and moving the blobs from one box or album to another in endless organization, I also agree that it may have some role in reducing losses in a major financial crisis. I don't see a potential crisis like 2008, but rather an scenario where the dollar loses considerable strength.

Thanks for the great post Pete.

 

[Pirocco]

I produce, I earn fiat, I save fiat.
Instead of holding the saved fiat for years / decades as money, I swap it for saved silver as money.
Not a hobby but own control and least dependency, and just like I looked back at what fiat savings have been, I will look back at what silver savings have been.
It's possible that I sell a chunk at a loss and it's possible that I sell a chunk at a profit.
If price of silver is driven down a further $5 relative to the products I wanna buy later, I will then receive more ounces for my next fiat>silver swaps which can only improve the future result.
If it is driven up again $5, and I suspend buying again, the future result will also improve, since my current silver will receive more.
One can suspend buying until the price, after being driven down from a top of $35 to $15, is driven down a further $5 too, abit the same as what happened 6 years ago at $10 with some thinking return to the $5 that lasted a couple decades, due to sales of existing investment stockpiles, and especially due to the general economical production progress that occurred (a capital element being computers and automation).

Economy goes where communities of people go. What's todays level of trouble in the world, measured on a gauge that spans let's say a century? How does one measure trouble? Size of State? Magnitude of State interference? Amount rules? Difference rich-poor? Size of "middle class"? Production labor and time pressure? Amount conflicts?

About the dollar, of course it will lose considerable strength. Since it now sits at a multiyear high, and since the central planners 'harmonize' their currencies (and taxes) enough to avoid one being driven too high or too low relative to the others. Central planners and their buddies fight speculators. It's a mere half year ago that the Euro side complained about a too strong euro, remember? Well, they took action, weakened the euro, and it's now the opposite, and I'll again suspend swapping fiat to silver until their next force based interference. In meantime I snagged again some silver coins, the regular bullion part at a 6 % lower price than my previous purchase, and a 46% lower price since I started in 2011 at $32, where they were no Yahoo Finance and SilverPete's warning for drops. If they didn't do so then, why would they warn now for rises?