Really Confused... Silver crashing or climbing?

[goldpanner]

Seriously, don't read anything on these forums as 'the bible truth'. You have absolutely no idea who are the people making these posts, including that matrix/opals person who seems to be trying to just build his credentials with nothing really backing them up.

Don't rely on these forums at all. The forums are a good indicator of 'general sentiment' and feeling in the market, but thats about it. If you're considering putting money into this area do your due diligence by doing some real research. If reading these forums is your 'research' then you have yourself to blame if you make a bad investment decision.

agree - Do not believe everything you read , I think the probability of $12 is very low, doubt if it would ever go below $20 and seems like a lot of resistence at $30 but a higher probabilty of going higher the $35 - ALL THIS IS JUST MY OWN HUNCH AS I HAVE NO EVIDENCE!

 

[Diablo21]

I just bought 80 oz at today's price and I feel much better than I have been this entire week, contemplating whether I should or shouldn't

 

[toto]

Seriously, don't read anything on these forums as 'the bible truth'. You have absolutely no idea who are the people making these posts, including that matrix/opals person who seems to be trying to just build his credentials with nothing really backing them up.

Don't rely on these forums at all. The forums are a good indicator of 'general sentiment' and feeling in the market, but thats about it. If you're considering putting money into this area do your due diligence by doing some real research. If reading these forums is your 'research' then you have yourself to blame if you make a bad investment decision.

This is the most pertinent post I have read on this forum.

 

[fishball]

Seriously, don't read anything on these forums as 'the bible truth'. You have absolutely no idea who are the people making these posts, including that matrix/opals person who seems to be trying to just build his credentials with nothing really backing them up.

I know right, that guy was clearly just trying to build his blue undies business. For all we know he could be an evil investment banker working at JPMorgan holding a huge portfolio of blue undies shorts and manipulating the price of blue undies downwards.

Don't rely on these forums at all. The forums are a good indicator of 'general sentiment' and feeling in the market, but thats about it. If you're considering putting money into this area do your due diligence by doing some real research. If reading these forums is your 'research' then you have yourself to blame if you make a bad investment decision.

+1.

 

[jnkmbx]

MatrixOpals is just saying hard work i.e productivity is your road to success and you shouldn't rely on investments.
Obviously I'm always on about productivity, so I agree with him on that.


As part of the tin foil hat brigade, I believe physical PMs are a way to store wealth under a SHTF scenario.
Despite a sack of potatoes being worth more than 1/2 ounce of gold in a SHTF scenario, the idea is that:
1. you are able to trade for food rather than have nothing to trade
2. after good times return and things are re-valued, you're ready to enter a new (and hopefully better planned) economy

Besides, as always, there will be those who are anticipating a return to better times and if they have a surplus of certain items they may not mind trading them for PMs, gemstones and other precious items.

Also, don't forget that PMs are a form of intergenerational wealth.
They can be passed down the family.
Your $49 silver may have looked like a bad deal to you, but it could be a life saver for one of your descendants.

So yea, PMs aren't a get-rich-quick scheme for me. I store 50% of my value in PMs and invest the other 50% in different income generating investments.

Will silver head south?
My tin foil hat says this current spike is the good-sentiment-no-fundamentals rise of QE2/Eurozone worries being put aside, but the sentiment will run out this week and GFC2 will occur soon after - that's when everything falls, including silver.

Rather than be concerned, stay productive and build up reserves to buy up cheap.
That's what I've been doing for the last few months. I'm on hold mode until GFC2 (or bust!).

 

[Ag]

Food shortages into the future will be a big problem with the ever increasing populations. Think Australia will be fine based on agrarian economy covering all the primary food groups of grain,dairy,meat,fruit and veggies. Only 22M people - plenty for everyone.

Expect Gov to either ban or heavily tax exports before 50% of the population starve. Not the same for China - wonder why they have been buying up Australian farms over the last few years? They will harvest and shove a export label on the container but will it get out of the country?

 

[jnkmbx]

Yep, food shortages are gonna be a big issue.

The writing's been on the wall for decades, but no one has listened of course...
their iPhones and credit card debt has kept them occupied. >_>

 

[goldpanner]

I would not put money into metal for quick profit, it is for me wealth protection and I dont plan to sell for a long time, if the price of silver was to drop below $30 I would buy more.
If you worry about the volatility of silver then gold would be a better option for you, in fact the more I read about gold and countries thinking of backing their currencies with gold the more I am leaning towards having more gold than silver but I think it is good to have a bit of both and anything else like food that you can stack as the price of food is certain to go up and up!
I reckon there will be massive food shortages mainly due too a changing climate but I wont go there in this thread!

 

[Ronnie 666]

I agree with Matrix.
All this talk about silver to the Moon is dangerous for Newcomers.
How much money did they lose when they bought at $48.
People were saying it couldn't go down.
There needs to be some advice to the contrary.

Gold ,I think,is safer.
Silver is speculative and volatile.

I believe silver could go to 25-23,and then maybe even to 9.Noobs should be warned about this.
It could also go up to $60-$80.
If things get bad ,I think it will go down.

My respects to Matrixopals.It doesn't get you cheers on this forum to take a cautious view on silver.

Hi Peter

Please explain "If things get bad ,I think it will go down". Are things not bad enough in the Western World. I presume you mean Europe and the US. I heard a figure yesterday that was truly bad. The G5 countries have 7x the debt of all the other countries put together. Real unemployment in the US at near 20%, riots in Europe - not bad enough for you ? I was recently in London and the terrible state of the roads subways and buildings compared to 10 years ago are those of an empire in decline. We are constantly confused by the government propaganda machine that juggles figures and massages data. How else can we as a country think that taxing an invisible gas absolutely vital for carbon based life, is good. If things turn truly terrible (Argentina in 2001, Zimbabwe) lets see how much your paper dollar will buy.

Things can get a lot worse than this.
How about complete Economic collapse.

I think contrary views are to be encouraged on this forum.Some people here have a lot of money riding on all this
and so continual examination of all the possibilities is sensible and vital.
Daydreaming and escapism has no place here.

I suspect some people here are afraid that contary views here might bring down the price of silver.
The big boys control the price of silver and they don't care what anyone on this forum has to say.

Hi Peter

That's the point I am making - In complete economic collapse do you think your Au $ is going to be worth anything. Cant even wipe -you know what, as its plastic.
In Weimar Germany at least they could burn the cash for its calorific value as heat. In Zimbabwe they accept gold and silver - you bet.

I am one of those people with a lot of capital invested in PM and you can be sure I look at every aspect of these markets. The more people tell me to get out and that PM is an antiquated investment (my accountant) the more tempted I am to buy in. I am not in for the quick buck and long term we all know with 100% certainty that all paper currency including the AU$ will devalue. I suspect quicker than most people believe.

 

[ShinyStuff]

Thanks for your comments. As I said it is SMSF so I won't be touching it for a long time, but as it is my money and it cost a lot to earn it, I look after it as best I can.

In terms of worrying too much about what people say, I am not worried... just confused. AND, I rely on the "expert" opinions of people here!

While I will not be liquidating my investment anytime soon, I think I will start to add gold to my fund, but TBH I too think that 1000oz will one day buy a great home, and that is why I am stacking to shift (one day) from my silver to property.

 

[Peter]

Hi Peter

Please explain "If things get bad ,I think it will go down". Are things not bad enough in the Western World. I presume you mean Europe and the US. I heard a figure yesterday that was truly bad. The G5 countries have 7x the debt of all the other countries put together. Real unemployment in the US at near 20%, riots in Europe - not bad enough for you ? I was recently in London and the terrible state of the roads subways and buildings compared to 10 years ago are those of an empire in decline. We are constantly confused by the government propaganda machine that juggles figures and massages data. How else can we as a country think that taxing an invisible gas absolutely vital for carbon based life, is good. If things turn truly terrible (Argentina in 2001, Zimbabwe) lets see how much your paper dollar will buy.

Things can get a lot worse than this.
How about complete Economic collapse.

I think contrary views are to be encouraged on this forum.Some people here have a lot of money riding on all this
and so continual examination of all the possibilities is sensible and vital.
Daydreaming and escapism has no place here.

I suspect some people here are afraid that contary views here might bring down the price of silver.
The big boys control the price of silver and they don't care what anyone on this forum has to say.

Hi Peter

That's the point I am making - In complete economic collapse do you think your Au $ is going to be worth anything. Cant even wipe -you know what, as its plastic.
In Weimar Germany at least they could burn the cash for its calorific value as heat. In Zimbabwe they accept gold and silver - you bet.

I am one of those people with a lot of capital invested in PM and you can be sure I look at every aspect of these markets. The more people tell me to get out and that PM is an antiquated investment (my accountant) the more tempted I am to buy in. I am not in for the quick buck and long term we all know with 100% certainty that all paper currency including the AU$ will devalue. I suspect quicker than most people believe.

I agree The Australian dollar would crash.It's just that I think that Silver will crash too.It's value is largely Industrial based and speculative ,and that side of it would diminish badly.
Everything would go down,even gold,but I think gold would come back strongly,currencies being dumped.
We know Silvers good,but the average person doesn't.
Central banks have Gold in their vaults,not Silver.
I could be wrong,but I think in that circumstance,gold would do better than silver.

The rich will never go hungry
If currencies go,I think the rich will go Gold,not Silver.
Just my opinion.
Of course,you might lose with gold too,but not as much.
Nothing certain in those circumstances.
People looking for a sure bet ,well,good luck.

 

[Silverthorn]

The western countries are in a worse position now than a few years ago. If the stop the money printed it will a much worse collapse than we would have had so I can't see them changing tack now. QE all the way.

 

[VANGBAC]

Food shortage yes but the next big battles will be fresh water for the masses. The day comes and you turn on your taps and nothing comes out thats it.!!! Dont say it cannot happen I have seen it happen in Tasmania already once. And if you dont have water to drink you certainly wont have it to spray all over the vegie patch. If ever there was one law that should be enacted is for any new house to have a water collection tank. Much better of the roof than with all that poison in it. Just my thoughts.

 

[goldpanner]

There are no 'sure bets 'in life! Everything is a risk - money left in a bank, stocks & shares, silver, gold, and your job and your health.
You have to try and weigh up all the risks and use your own judgement cautiously and not to rush into putting all your eggs in one basket.
Dont listen to people making wild speculations about how to make yourself rich, too many people have lost everything due to greed.
If you think of pms as a store of wealth for the long term then dont worry about short term dips and spikes.
Nobody knows what is really going to happen in the future, we are only making assumptions on past history as that is all we have to go on.
More than likely something we never even thought about will happen and take us all by surprise! :lol:

 

[cdnmetalmetalhead]

Zombies.

 

[goldpanner]

Food shortage yes but the next big battles will be fresh water for the masses. The day comes and you turn on your taps and nothing comes out thats it.!!! Dont say it cannot happen I have seen it happen in Tasmania already once. And if you dont have water to drink you certainly wont have it to spray all over the vegie patch. If ever there was one law that should be enacted is for any new house to have a water collection tank. Much better of the roof than with all that poison in it. Just my thoughts.

I could not agree more - I read a year ago about the crisis already happening in Bolivia - it used to rely on melt water from glaciers but the glaciers are all disapearing and it could become a major crisis. I believe China is suffering from water shortage too.
The problem is that once reliable rainfall is becoming less reliable and farmers especially need reliable rainfall not spasmodic events or they lose the money they spend on fertilisers and seed.
With water shortage in Perth they should be making water tanks mandatory on every house but their excuse is that people will not maintain them and they would become a health hazard but this would only apply if they used the water for drinking - that water collected could be directed onto the garden, to the toilets or washing machine and save precious tap water.
I have a 5000 gallon rainwater tank to collect water off my roof!

 

[fishball]

Food shortage yes but the next big battles will be fresh water for the masses. The day comes and you turn on your taps and nothing comes out thats it.!!! Dont say it cannot happen I have seen it happen in Tasmania already once. And if you dont have water to drink you certainly wont have it to spray all over the vegie patch. If ever there was one law that should be enacted is for any new house to have a water collection tank. Much better of the roof than with all that poison in it. Just my thoughts.

I could not agree more - I read a year ago about the crisis already happening in Bolivia - it used to rely on melt water from glaciers but the glaciers are all disapearing and it could become a major crisis. I believe China is suffering from water shortage too.
The problem is that once reliable rainfall is becoming less reliable and farmers especially need reliable rainfall not spasmodic events or they lose the money they spend on fertilisers and seed.
With water shortage in Perth they should be making water tanks mandatory on every house but their excuse is that people will not maintain them and they would become a health hazard but this would only apply if they used the water for drinking - that water collected could be directed onto the garden, to the toilets or washing machine and save precious tap water.
I have a 5000 gallon rainwater tank to collect water off my roof!

Stagnant water causes health hazards such as cholera and is a mosquito breeding ground, I just don't trust idiots to handle water tanks.

It's not as simple as not drinking the water.

 

[Lucky]

I just bought 80 oz at today's price and I feel much better than I have been this entire week, contemplating whether I should or shouldn't

yeah great feeling isnt it. I was the same with both ag and au but once i jumped in it felt great. Im in the game!!. Better than sitting on the bench.

As for Food and Water.....My father inlaw lives 10 mins down the road. He has a windmill which provides water to drink. He filters it, solar power, has his on vege patch, chook pen, 10 acres of trees for wood/fire and fruit trees. Thats where im going if SHTF

As for Silver....just look long term up up up with a few downs but then up again. Ive just ordered mike maloneys book. Did heaps of research before i bought PMs but im sure a read of his book will help put things in perspective.

Cheers