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 Replies: 37 / Views: 3,922 |
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Valued Member
United States
63 Posts |
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I wonder which way silver will head if and when warren buffet sells his 100 million ounces? I thought that Warren Buffett sold his silver back in 2006. |
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Pillar of the Community
United States
4008 Posts |
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I believe China and Russia are already trading directly in their own currencies, and by passing the USD altogether. - Vinny
I had not heard that, Vinny, but it does not surprise me a bit. Both of those countries have had meetings with other countries to see if they had any interest in creating a new world reserve currency. Although those meetings are known to have taken place, the substance of them is not known by anyone who did not participate in them. My thought is that there is considerable interest in a new world reserve currency. If I had to guess, I would say that it will likely be a brand new currency formed from a group of currencies, like the Euro, and perhaps backed or at least partly backed by a basket of commodities, such as PMs, oil, wheat, timber, etc. If such a new currency were created, then it would be possible for countries to accept it in all international trading and business. This would push the dollar out of its position as the WRC and allow the new WRC to take its place. Because it would be a composite currency, no one country could print as much of it as they wanted. The US would be put on a spending diet, kicking and screaming all the way. Harsh medicine that, but not undeserved because of the poor way in which we have weakened the dollar ourselves via too much debt, too low interest rates, and way too much currency printing. While I understand their desire for this I also recognize the kind of damage done to the USA and our allies if this happens. It would be a terrible financial blow to America and its citizens. Those pushing the new WRC would, of course, gain in stature, power, and money... which is their goal... to weaken us and to strengthen themselves. If they can do this, we will lose political and economic power and then military power as well. That would not bode well for those who love freedom and liberty... but the dictators would love it. |
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Valued Member
Canada
442 Posts |
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Pillar of the Community
United States
4008 Posts |
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Pang Zhongying, who specializes in international politics at Renmin University of China, said the proposal is not challenging the dollar, but aimed at avoiding the risks the dollar represents. They can couch this in all the diplo-speak they want but the fact is, they ARE challenging the dollar. I believe that they have a right to do so. But it is also our right to resist their moves in this direction... and we'd better! |
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Pillar of the Community
United States
4008 Posts |
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I wonder which way silver will head if and when warren buffet sells his 100 million ounces? - ronpacheco There seems to be some question as to whether or not Buffet still holds his silver purchase. If he does, then selling it into the market would be something that he would want to do over time, rather than just dumping it into the market and depressing the value of any remaining silver in the B-H portfolio. I did a quick Google search for the volume of silver traded each day but could not find a solid number. For Buffet's holdings to affect the market, it would have to be a substantial portion of the amount traded during the time of liquidation. If it is, then it could depress silver prices for the time that it takes the market to absorb it. If not, then there will hardly be a ripple in the market to show for his selling. With world annual silver production running at just under 1 billion ounces, dumping 10% of that onto the market in a short time span very likely would depress the silver price substantially. Just how much that would be or how long prices would remain depressed is anyone's guess. |
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Pillar of the Community
United States
4008 Posts |
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hmmmmm makes me glad a bought a more economical car last year.
Peter T Sounds like a great move on your part, Peter. Reducing the cost of transportation as well as the amount of crud in the atmosphere are both very good things, IMHO. Well done.  As for myself, I would LOVE to get a Nissan Leaf plug-in electric car and drive it around town on errands and such. I don't drive a lot so it probably would not pay off for me but I have this dream of driving past all of the gas stations on my route with the flying fickle finger flying high!  |
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Valued Member
United States
425 Posts |
Quote: "There is a story going around the net that there is 500 Ounces of silver in each Tomahawk Missile" Well, I can not find how much silver is in a Tomahawk, but I did find this.....but the web-site looks a little scary! "So far the US has thrown 3 tons of silver at Libya just with the Tomahawk missiles. That silver is gone forever as it is blown to a million pieces. (Never mind the poor  s at the at the other end of missile's target.) If we added the 191 Tomahawks from this "Kinetic Military Action" to the 288 from Gulf War 1, the 325 used in Sebia and Iraq in 98, and the 725 launched in Gulf War 2 that is just over 800,000 ounces of silver or 25 tons of silver gone forever." http://www.thepeoplesvoice.org/TPV3...yed-3-tons-o |
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Pillar of the Community
United States
3670 Posts |
Ed B mentioned about Great Britain and what some called "The winter of discontent".... http://en.wikipedia.org/wiki/Three-Day_WeekLittle doubt I think if an when the US looses its position as the WRC (world reserve currency), we will see major increases over night, and could face similar situations Britain faced in the early 70's.... Edited by Silverhawk74
04/15/2011 01:20 am
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Pillar of the Community
 United States
1126 Posts |
Here is another piece to the puzzle added today
U.S. Credit Outlook Downgraded By S&P
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Pillar of the Community
United States
3670 Posts |
Interesting Stewart and does the US not have but like four major company's with the triple A above standard rating? The four companies names escapes me, I shall research it further and see what I can find. I did find this one interesting article that says European stocks dropped due to the report.... http://biz.thestar.com.my/news/stor...sec=businessEdited by Silverhawk74
04/18/2011 10:41 pm
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Pillar of the Community
United States
1126 Posts |
SilverHawk, I am not sure, But this whole thing is starting to feel like a game. With the steady release to the general public now of these type of stories. And Statements every few days now of how much trouble the U.S. Dollar is in. In the last few weeks. Even the Network talking heads that usually swear that precious metals are a barbaric relic of the past. Are being allowed to speak of it on the air. It almost feels like they are trying to steer the sheeple towards something for some reason. And are speeding up the pace at which the Dollar either devalues or crashes altogether. S&P's announcement yesterday downgrading the U.S. Credit status I feel was sanctioned by one or more Government Agencies or it would not have happened. S&P is too tightly tied to the U.S. and other world governments. I know this all sounds kind of conspiratorial, but we are in new territory these days where banks can in one few hour period pull a 500 Billion from the market as a show of force to make the U.S. Government give them bail out money. Any thing is possible now days. http://seekingalpha.com/article/119...mber-18-2008Edited by stewart
04/19/2011 1:58 pm
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Pillar of the Community
United States
1450 Posts |
If there are any pranks afoot(and I don't doubt that there are) it will come through the ETF's. If you read the details of most of the ETF's,unless you have $50,000 or more invested,you don't get reimbursed with physical precious metals,you get cash back. Cash that is worth less every day. I think the plan is to get folks,enmass,into PM ETF's,devalue the dollar dramatically ,pay off the little people in worthless dollars and take the physical and run! There is manipulation at every turn and the big guys are all positioned now to take physical PM's so the price is going up. If you are holding PM backed paper,good luck to you!
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Pillar of the Community
United States
667 Posts |
I can build a few TH's :) I wonder what the silver is used for at lest to have the need for 500oz.
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Pillar of the Community
United States
1126 Posts |
Hockingzkig
I could not agree with you more on the paper
problem. But for some reason there seems to
be more going on to me.
That is exactly why when I first learned of JP Morgan's
price suppression and manipulation of the silver market
last in March of 2010 the only Metal's purchased have been the
physical metal.
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Pillar of the Community
United States
4008 Posts |
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Even the Network talking heads that usually swear that precious metals are a barbaric relic of the past. Are being allowed to speak of it on the air. It almost feels like they are trying to steer the sheeple towards something for some reason. And are speeding up the pace at which the Dollar either devalues or crashes altogether. - Stewart
An interesting viewpoint, Stewart. Usually, where there is an attempt by someone to stampede the sheeple, it is for the advantage of the wolves. There must be a profit in it for the wolves to be interested in spending their time orchestrating it. For example: Suppose that the herd was led to believe that silver was going to $100 per oz. Many would pile in and buy lots of silver which the wolves just happen to have to sell. Then, the wolves pull off some neat trick, like trumpeting a MASSIVE new silver strike in Peru or Bolivia. That news would cause the price to pull back, there would be a sheeple mad scramble for the exits with many sellers, few buyers, and a price in free-fall. Once the price hits their bottom target, they simply buy up all the cheap silver on the market, and in a few months deliver the sad news that the new strike was merely a pocket of a few tons of very high grade ore that was soon all mined. Now that they hold a HUGE amount of cheap silver, it is time for them to be doing whatever is necessary to get the price rising again. Repeat as needed for HUGE profits.  |
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Replies: 37 / Views: 3,922 |
First Page
Posted 04/14/2011 10:56 pm
