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 Replies: 36 / Views: 5,239 |
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Pillar of the Community
Canada
1581 Posts |
Another 33% hike in silver margins announced by the CME for May 9. Another big drop in silver.
Silver is down about 33% from its high in about five days.
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Valued Member
Poland
114 Posts |
It's because of Osama. No matter was he really killed a few days ago or not, people in general trust the government more, so the currency goes up resources like metals or oil go down.
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New Member
United States
28 Posts |
Was nice while it lasted...oh well, should be some good buying oppurtunities coming up with the fall in price
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Pillar of the Community
Canada
1733 Posts |
I'm really not worried about it (silver/gold). As we enter what is going to be record inflation for much of the western world, things will change.
The drop in platinum on the other hand is really, really ticking me off though, I thought I'd have a specific quantity (post processing) of scrap and cats by way earlier this year and I didn't but I need that much to get the better price at the refinery. Might just as well wait till next year now. I want to say a bad word. Maybe people will start buying lots of cars and drive the price up for me. Not likely though.
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Pillar of the Community
Canada
1581 Posts |
Fair enough. But, "silver is money" is pretty much destroyed as a valid concept when it loses 12.5% of its purchasing power in a day.
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Pillar of the Community
Canada
1733 Posts |
Silver is a commodity. Sometimes money is made from this commodity. Sometimes I collect this commodity made into money. Sometimes I stash bricks of commodity. It doesn't matter, it's there when you need it and it can be traded for money, whatever that happens to be worth at the time. If you are arguing that you should skip the commodity and just keep money, I'm still not following you, since you should have some of both , up to ten per cent commodity as the wizards are fond of saying. 20 kilos of silver doesn't make any difference at all... unless my money was worth nothing and then the silver would be worth a lot in real value terms....
Wealth on the other hand, wealth is land that produces food, liquid fuel, energy and housing. People pay me every day for three of those, in money. I haven't bothered with liquid fuel yet, but I'm considering it.
If you are holding less than ten per cent of your net in PM's, the concept of selling eludes me. It's there as a hedge of sorts against the unthinkable and shouldn't impede your ability to carry on living. What is there to gain by selling?
Unless you just invest to catch the rise... an entirely different matter.
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Pillar of the Community
United States
4008 Posts |
Quote:
...so the currency goes up resources like metals or oil go down. Which is just what the Chinese want to occur. They are buying ALL commodities and the means of producing them, hand over fist. I do not see this changing any time soon. Rather than hold hundreds of billions of US dollars and more hundreds of billions of dollars worth of US Treasuries, they are opting to buy the things that a nation MUST have to support a modern economy. Sure, they will buy oil to use now but they are also buying mines and oil fields to ensure their supplies later. Ditto for rare earths and other metals, including silver, and even copper. There are times when I wonder who the REAL capitalists are in this world.  |
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Pillar of the Community
United States
1450 Posts |
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Valued Member
Poland
114 Posts |
Quote:There are times when I wonder who the REAL capitalists are in this world.  Pss, psst - its a secret! Yet in China they have a kind of capitalism which they call communism, while in countries like yours and mine there is a form of... well, maybe not communism, but socialism - that is just called capitalism. |
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Bedrock of the Community
Australia
21788 Posts |
I think silver will stabilise at around the $15 to $20 level, somewhere near the trend line it got away from. OK by Me!
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Pillar of the Community
United States
4008 Posts |
Quote:
Well put Ed-B! Thanks, Hock. Appreciate the kind words.  Quote:
Pss, psst - its a secret! Yet in China they have a kind of capitalism which they call communism, while in countries like yours and mine there is a form of... well, maybe not communism, but socialism - that is just called capitalism. Oh, I LIKE that! It's just Orwellian enough to be... THE TRUTH!  |
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Pillar of the Community
United States
3670 Posts |
Good one Ed, I liked that statement as well, and George Orwell would have agreed. That book 1984, he was on the right track, just ahead of himself about 30 years eh....
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Bedrock of the Community
Australia
21788 Posts |
Despite my previous post, there seems to be at least some price stabilisation around the $35 level. OK by me!
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New Member
United States
34 Posts |
with the people with it dropping me too I like to see it 30 oz the but like heck and hopefully it goes up lol
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Pillar of the Community
United States
4008 Posts |
Quote:
Good one Ed, I liked that statement as well, and George Orwell would have agreed. That book 1984, he was on the right track, just ahead of himself about 30 years eh.... - Silverhawk Thanks for the kind words. Yeah, Orwell was a visionary for sure. His way of presenting his characters was just hilarious and very appropriate too! If we look at the way that things are turning out, we might have to say that he was an optimist. :-/ |
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Replies: 36 / Views: 5,239 |
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Posted 05/05/2011 11:10 am
