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Silverhawk74
Pillar Of The Community
United States
3403 Posts
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Mike Ward sends me emails all the time about oil, or some other new stock investment idea. Just another Financial advisor looking for new clients, same old story....
He rarely ever sends emails in ref to gold or silver...
Today he sends me one saying his people have closely been following silver for 6 months, and it is poised to surpass demand big time in JUNE, when some..."New big event is gonna gobble up over 1.5 billion oz.", which will send the silver prices soaring basically.....
Any truth to this, heard anything on it, or just more snake oil dribble? RIP BigFredd....
Edited by Silverhawk74
02/10/2012 10:32 am
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Pillar Of The Community
United States
1383 Posts |
I have read similar projections from several "analysts". Most are not month specific projections but all say the second half of 2012. I have seen number ranging from $85-$250/ounce silver by years end. I have not seen any specific"incident" that will drive it mentioned but all cite demand overtaking supply so SOMETHING is going on.
"George Washington threw a silver dollar across the Potomac River so history states, but then you have to realize the dollar went a lot further in those days.
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Pillar Of The Community
United States
3403 Posts |
Very interesting info there Hock, and I am getting at little edgy now about building my silver hoard back up much faster now. I may even sell all vintage stock, so as I can get all my eggs into the proverbial silver basket before it is too late....
RIP BigFredd....
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Pillar Of The Community
United States
1383 Posts |
I'm trying to add to my pile a bit faster also. I think I will do 10 oz. bars,2 each month as long as I can. I would love to get more gold but I just can't do it at these prices. I have 11 ounces of gold so I feel I'm pretty well positioned so I will keep stacking silver till the silver:gold ratio drops then swap some silver for gold. That's my plan and I'm sticking to it!
"George Washington threw a silver dollar across the Potomac River so history states, but then you have to realize the dollar went a lot further in those days.
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Pillar Of The Community
United States
1383 Posts |
Silverhawk,you may like this article,it explains a lot of what you heard. http://www.financialsense.com/contr...r-the-shiny- "George Washington threw a silver dollar across the Potomac River so history states, but then you have to realize the dollar went a lot further in those days.
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Valued Member
United States
100 Posts |
New big event going to gobble up 1.5 billion ounces? Now I wonder what that would be? If memory serves me right the average world industrial consumption is 500 million ounces a year with an additional almost 200 million going to coins/bullion and another 200 million to jewelry.
I have no idea about production capacity but if it took months for Sprotts to take delivery of a $200 million dollar order recently half of which was mined AFTER the order was placed I wonder about the ability of the mines to produce all that extra silver. Yep, prices should go ballistic if someone/something needs that much silver.
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Pillar Of The Community
Canada
764 Posts |
the article link: http://www.financialsense.com/contr...r-the-shiny-bastardQuote:
New big event going to gobble up 1.5 billion ounces? Now I wonder what that would be? to fight global warming, every roof on earth has to be silver-plated? Edited by SilverBug
02/10/2012 1:37 pm
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Valued Member
United States
100 Posts |
I read the shiny article when it came out earlier this week but unless I'm missing something it still doesn't speak to this big event. Based on your comment Silverbug is it supposed to be added Chinese manufacturing of solar panels? It sure wouldn't be done here, the companies can't compete and continue to get driven out by the Chinese. Earl |
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Pillar Of The Community
United States
3403 Posts |
When I clicked on both those links, I got just a list of finacial contributions for that finacial ad page.... http://us.mg6.mail.yahoo.com/neo/la...vkctg9912n3a RIP BigFredd....
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Pillar Of The Community
Canada
764 Posts |
@EarlB: that kind of volumn is beyond my imagination, I will just sit on my silver stack and wait to see what will happen  @Silverhawk74: there is a word in the link got censored by the forum, you can click on the link and search "silver the shiny" on that site |
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Valued Member
United States
100 Posts |
Interesting...I still don't have any gold but jewelry...however, if those analysts are anywhere near right with their Gold/Silver ratio projections of 17:1 then somewhere down the road I'll convert some. Until then, I'm buying as much silver as often as I can. Earl
Edited by EarlB
02/10/2012 3:24 pm
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Valued Member
United States
257 Posts |
Rather than waiting until June to see some volatility in silver, why not see what happens on 2/13/2012 when the new COMEX margin take effect?  Base facts for COMEX margin changes: http://www.reuters.com/article/2012...972320120209Silver And Margin Requirements: How The CME System Increases Volatility http://seekingalpha.com/article/309...s-volatility |
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Valued Member
United States
100 Posts |
Really, Monday? Sheesh it's down a bit today I'm going to go buy all I can in about an hour :) Earl
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Pillar Of The Community
United States
4008 Posts |
Quote:
Today he sends me one saying his people have closely been following silver for 6 months, and it is poised to surpass demand big time in JUNE, when some..."New big event is gonna gobble up over 1.5 billion oz.", which will send the silver prices soaring basically..... The general trend for silver use and prices is up. Whether or not there is some amazing event that will suddenly gobble up about 2 years worth of world silver production seems more than a little fishy to me. I'm not arguing against the probability of a tighter silver market and correspondingly higher silver prices but probably not because of some cataclysmic event. OTOH, if the euro and / or dollar were to collapse, perhaps that WOULD qualify as a cataclysmic event! 
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Pillar Of The Community
United States
3403 Posts |
I am like you Ed, far from swallowing that spoon full of castor oil before seeing some real evidence that supports the claim. It aint like I will not have my ear to the railroad track, while keeping the other eye on the spot price as the weeks fall, just like I always do....
And you may say 200 buck silver is not exactly a spoon full of castor oil, but I have a feeling if it got that high that fast, we would all be in the deep stuff at that point. And the profits made would be far out weighed by other negative changes around you (IF they could indeed still sell at that point, and keep it from getting takin) Again, in a SHTF situation the first thing to go I am calling it now, the INTERNET. I would be basically lost without it, as far as selling silver, minus having that job at the bullion store now....
RIP BigFredd....
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Pillar Of The Community
United States
1051 Posts |
With things like this beginning to happen, I feel it will not be one single event but a long freight train of incidents. That will rip the economy into shreds. Along with the Massive flight away from the U.S. Dollar that is going on around the planet. The Euro is already toast. They are just trying to figure a way to soft land the demise of the Euro. But with the same people at the helm that made the situation in the first place. I have my doubts as to whether they will be able to do it, Greece is on the verge of total societal collapse at this point. This I am afraid will spread like wild fire, Just like the protests spread across the planet last year. Defaults could spread across the planet this year, Due to the HUGE Credit Default Swap exposure Greek Police Threaten IMF Arrests Due To "Austerity Demands" http://www.zerohedge.com/news/greek...rity-demandsArgentina limits daily financial transaction per person to 1.000 Pesos (230 dollars) http://en.mercopress.com/2012/02/09...mpaign=dailyThe DHS Defends Globalism, Not America http://www.zerohedge.com/news/guest...-not-america |
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Posted 02/10/2012 09:42 am
