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 Replies: 25 / Views: 2,954 |
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Pillar of the Community
United States
4008 Posts |
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Lawyer? I'd be calling some biker in Cleveland. Yeah, either him or that teamster, Guido the Knees. Quote:
Something inside of me is saying we will see silver drop back to the upper 20's before it hits $40 again. I have ignored that little inner voice from time to time and it has cost me every time. I have no idea whether or not silver will pull back from here but it might. |
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Pillar of the Community
United States
2168 Posts |
Yes I had a feeling that silver would Drop in May but still was buying just in case in April. Not as much but still bought.
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Pillar of the Community
United States
3670 Posts |
If it goes back to 25, (I think 20 is unlikely, look out below now as the opposite of nearly every single thing I think seems to happen, lol), but if it does pull back to say mid 20's, I bet it will not be down there but for a real short time, as the smart money starts buying in MASSES at that point, which enviably pushes it back up again....
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Pillar of the Community
United States
4008 Posts |
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Yes I had a feeling that silver would Drop in May but still was buying just in case in April. Not as much but still bought. Good job, Angel. Buying a little whenever we can is a great way to build a nice collection over time. Price matters but not as much as having the ounces we need when we need them. If bad times do come, it is likely that they will come unannounced and much more quickly than we can even imagine. Quote:
...but if it does pull back to say mid 20's, I bet it will not be down there but for a real short time, as the smart money starts buying in MASSES at that point, which enviably pushes it back up again.... Exactly right, Hawk. There is a repeating pattern in the silver market that we have all seen. First, the price of silver gets bid up by investors for both paper and physical silver. Then, the COMEX raises the margin requirements which forces a lot of speculators and some investors out of the silver market. They have to sell their futures positions, which puts downward pressure on silver prices. Once prices are down, the big bullion buyers move in, liquidate their short positions, and go to a long position. This pushes prices back up and the cycle repeats. Fortunately for us bullion collectors, this cycle is no longer a well kept secret. The silver cat is well and truly out of the bag. When prices drop, a lot of us jump in and buy up physical silver too! We don't have the huge sums of money that "the big boys" have but we DO have the numbers. There are a LOT more of us than there are of them. This makes us a force in this market with which to be reckoned.  |
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Pillar of the Community
United States
2168 Posts |
My guess is an overnight devalue or major occurrence. There have been enough warnings. I don't think many really get it - our $ is backed by nothing but the faith and trust of the govt. Younger people really have not known anything else. Basically until recently (not that I didn't have my silver saved still from childhood and whenever it was found in rolls of coins over the years) I felt fairly secure with our $ but not now. I even keep all coins esp nickels just in c ASE |
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Rest in Peace
United States
9104 Posts |
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If bad times do come, it is likely that they will come unannounced and much more quickly than we can even imagine Johnny Carson caused a toilet paper shortage, literally overnight. Bank runs connected to the GD happened in hours. Many young readers can't remember the entire inventory of available gasoline dissappearing in a day or two. |
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Pillar of the Community
United States
667 Posts |
I was young and did not drive at the time. But I remember the days when they rationed gasoline in the early 70's. You were able to buy gas on even or odd days depending on if I remember you plate/tag number on your car. Then you sat in a long line waiting up to an hour or more to fill up.
Sometimes when you got up to the pump they ran out of gasoline.
My dad had a friend who owned a gas station, we would go late at night and they would pump gas without turning on the lights.
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Pillar of the Community
United States
2168 Posts |
Yes we were lucky as well my family had an oil/gas business. We always followed the odd even but no line
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Pillar of the Community
United States
4008 Posts |
Quote:
Many young readers can't remember the entire inventory of available gasoline dissappearing in a day or two. That's for sure, Fredd. Most people have no idea that the US food and beverage supply system works continuously on a just-in-time schedule or that very few grocers have more than a 3-4 day supply of food on hand at any one time. This is why a lot of us older folks and some of the new "prepers" stock up on food staples and maintain at least 3-4 months worth of basic foods at all times. Quote:
My guess is an overnight devalue or major occurrence. There have been enough warnings. I don't think many really get it - our $ is backed by nothing but the faith and trust of the govt. Yes and that faith is wearing awfully thin, one lie after another. I wonder what will be the effect if the entire world devalues the fiat currencies. Will that actually accomplish anything or will it just be more of the hamster wheel turning? |
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Pillar of the Community
United States
2168 Posts |
I think if all devalue just some zeros may be gone. Somehow I think currency does have to be backed by real money and that would cause PM to soar. It might be hard for a while but if backed by PM at least should correct. Yes we are the least self sustaining people. Need electricity, city water food etc. Look how much we are in trouble when the power is out a week! We really need to try to become more self sufficient.
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Replies: 25 / Views: 2,954 |
First Page
Posted 12/03/2011 7:14 pm
