Silver Passes $40 Are You Laughing Or Crying?

I think that you are closer to realistic than you are to optimistic, Vinny. Canada has its own problems, of course, but a HUGE banking mess you do not have.

I don't know for sure why it happens but about every 20-25 years here in the states, our bankers get a massive "attack of the stupids". We saw it with the S&L crisis back in 1986-7. That cost the US Tax-Payer over $160B to fix. Then, a mere 22 years later, we see the exact same thing on a MUCH grander scale in 2008.

I don't want to get into politics because there is a LOT of blame to be shared all around on this. Part of this fiasco comes from the bankers being able to rely on the government to make good on their excessive risk taking. This is basically an idiotic idea, IMHO. Anyone who takes personal or business risk OUGHT to be liable for the consequences themselves and not be trying to shove the mess off onto the tax-payers for clean up.

If there is any bailing out to be done, then let it be the small stock holder, bank account owner, individual retirement plan owner, etc. and not Mega Bucks Banking Corp., the ones who created the mess in the 1st place. They should be free to go bankrupt as a result of their financial incompetence. Lehman Bros. went bust and no one bailed them out... and rightly so. Too bad that this good idea was not more widespread. We have superb bankruptcy laws and courts in this country but they are, unfortunately, under-utilized.

Capitalism uses this method to keep itself fit and healthy. The weak businesses are consumed by the strong businesses. That both keeps the strong healthy and thins out the weak... both of which greatly benefit the economy. When the government interferes in this natural and healthy business cycle, they do so at their... I mean OUR... financial peril.

Crying like a little school girl. Want to accumulate more but the price is getting quite steep. Than tack on some of the premiums I'm seeing, and its getting crazy out there.

DOH! More goodies falling into hands other than mine!

I'm laughing my way to the coin show this morning to pick up more silver. The dealers might be crying because they might have bought some above $40 (but they will probably ask for that or more to break even or make a slight profit). Keep Stackin

A bit bummed. I wanted to see it drop into the low 20s again so I could restock. Of course, if it keeps going up, then I could start to sell my Franklin halves at some point and upgrade to nicer Barber coins.

Go up silver!!

Yeah, I was in that position myself. My last silver buy was on 6/30. I got a tube of ASEs for about $38.35 each delivered. Was looking at buying several 10 oz. bars but did not pull the trigger quickly enough. Waited for a little pull-back that never came. Oh, well... maybe later? We'll see.

I am crying.

High silver and gold prices are slowly ruining my chances of acquiring some coins that I would really like to obtain for a reasonable cost.

OK, so I have perhaps 50 or so gold coins and maybe 2000 or so silver coins, BUT
I will gradually change my focus to copper and bronze coins. (again) (for a while).

I am a coin collector, and I kid myself that I may even be a numismatist.

However, I am not a bullion collector.

If I was a bullion collector, my collection would be in assayed bar form.


Where are we going? In the 1930's and 40's, gold was fixed at $38 per ounce.