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 Replies: 43 / Views: 4,340 |
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Pillar of the Community
United States
1450 Posts |
I didn't hear the details but gold just jumped $13 in about 5 minutes. Silver is up over $1 in same timeframe. Let's see how high it goes.
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Pillar of the Community
United States
5832 Posts |
The Feds is going to keep the interest rates "exceptionally low" until 2014.
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Valued Member
United States
197 Posts |
Yep, I came back from lunch, saw that gold and silver had spiked, and saw the news. "Bartender! Cheap money for everyone!"
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Valued Member
Canada
85 Posts |
gold up to $1710 now. I wonder if this is when silver goes up for awhile now. $50 would be nice and on to $60..$70..$80...$120
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Valued Member
United States
100 Posts |
Except that my pile is still too tiny dangit! I went to go buy a few more ounces during lunch and was like WTH? Uggh... :( Still got it though, but since I was at a dealer that charges 10% over spot it wasn't exactly a steal. Earl
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Pillar of the Community
United States
3670 Posts |
Wow, shocked as I saw silver had dropped under 32 this morn and gold had pulled back to 1650's, and jut now looked an saw 1710 gold an 33 plus silver, out of no where. What exactly did the feds do to trigger this, the report about them keep interest rates exceptionally low till 2014?
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Pillar of the Community
United States
3670 Posts |
"Except that my pile is still too tiny dangit! I went to go buy a few more ounces during lunch and was like WTH? Uggh... :( Still got it though, but since I was at a dealer that charges 10% over spot it wasn't exactly a steal. Earl" rof  Classic Earl, sounds like my kind of luck buddy.... |
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Valued Member
United States
361 Posts |
The Feds announcement also reversed a down day in the Market. Wonder if this will be the "push" needed for Silver to climb back over $ 40 in the near future?
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Pillar of the Community
United States
4008 Posts |
The Fed has helped silver and gold holders and sellers but not buyers. IMHO, the Fed is a classic case of "Hi, we're from the government and we're here to help you!". Yeesh... with help like this we are rapidly approaching the point where we all start running in circles while screaming, "Game over, man, game over!". There was a time when the Fed only controlled the short term US interest rates. Back then, they would occasionally get out of step with the bond market, which set the long term interest rates and we would have what was called "an inverted yield curve". In this situation, short-term rates are closer to long-term rates than the current level of market risk justifies, so there is no incentive to take this greater risk with longer-term bonds when shorter-term bonds are paying close to the same rate. The Fed would take note of this and do whatever it needed to do to resolve this issue. Since 2008 and perhaps even a bit before that, however, the Fed has somehow managed to get control of long-term interest rates as well. This is a terrible combo, IMHO, as it gives WAY too much financial power to the Fed and they have not demonstrated any real competence since Volcker was the Fed chairman back in the late 1970s and early 1980s. If the bond market had their old power, they would be raising long-term interest rates considerably above the current 2.5-3% level... think 5-6% on the 30-year US Treasury. Doing this would put great pressure on short-term rates to rise as well. Perhaps the dirty little secret that DC is holding close to the vest is that if long and short rates were to rise, the US government would become instantly insolvent due to the huge increase in interest payments due on the US national debt? In any case, this does look a lot like some new form of QE. Like a shot of adrenalin, this will make the economy run faster... but not better. This is one of those changes that seems to be working in the short-term but which actually does considerable damage in the long-term. It is essentially another brick pulled from the wall protecting our city. Yes, it does improve the view somewhat but at what price? Eventually the wall collapses from removing so many bricks and the barbarian hoards come sweeping in. We'll have a VERY fine view of that.  |
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Pillar of the Community
 United States
1450 Posts |
After hearing Bernanke's news conference,it sounds like QE3 is being set up. They want everyone in the stock market and out of the bond market the way it looks. With the ECB printing,the UK central bank printing,it won't be long till the fed follows suit. This may be a BIG run up if things get worse economically.
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Pillar of the Community
United States
3670 Posts |
"This is one of those changes that seems to be working in the short-term but which actually does considerable damage in the long-term. It is essentially another brick pulled from the wall protecting our city."
No surprise there Ed, as that is what are gov does, bounce that cc debt from one maxed out cc where the interests is coming due, to another which has another year of no interest and a full limit, lol....
So, when ever things start to get real bad or all this debt starts to catch back up with them, they extend this, or borrow that, or demand the top 10 or 20 big elite bus an banks fork out so much each to keep all the wheels turning, lol....
They keep buying "FALSE TIME", and Ed you and I and all the other wise around here know that when they do, that eventually the time will come when they have EXHAUSTED, every possible plan XW an Z, and nothing is left to do fix an unfix-able situation....
Those food, dry powder, and Pm's supply's will come in real handy, if an when this happens. I think there is a real solid chance of it being a matter of if and not when this entire deck of cards comes crashin down....
Edited by Silverhawk74
01/25/2012 7:04 pm
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Pillar of the Community
United States
1554 Posts |
I don't know? This "The end is near" and "PM's will save me when it comes", just doesn't cut it with me. If the end is near those with PM's will just be run over by folks that don't have PM's. The man with food, fuel, land, etc. will be better off I would think. I personally think the state of the world really hasn't changed much in my lifetime just the main players.
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Bedrock of the Community
United States
10982 Posts |
Quote:
After hearing Bernanke's news conference,it sounds like QE3 is being set up. They want everyone in the stock market and out of the bond market the way it looks. With the ECB printing,the UK central bank printing,it won't be long till the fed follows suit. This may be a BIG run up if things get worse economically.
This is what an article on Bloomberg News said also. The extended near 0% interest rate are (what sounds like) a part of even more cash being piled onto the fire. If QE3 were offically announced this winter? PM prices could jump 20% in minutes. |
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Valued Member
United States
100 Posts |
1893S,
I don't know how old you are but I can tell you in my 48 years it's all changed my friend. I have two sons, 17 and 10. The 17 year old is about to embark on a college outlook where many people that graduate, have little chance of finding a job. One in five males under 30, STILL LIVE AT HOME.
For the first time in my life there is a very real probability that things will NOT be better for the next generation. Hell, I just hope there WILL be a USA (as we know it) for my kids to grow old and give me grandkids in. Do you think my parents had to worry about that? I know they didn't (well, except for that time in October '62) :)
When I entered the workforce 26 years ago, my plan was to retire early at 55. That ain't going to happen.
I used to worry about if there would be enough money between IRAs, 401Ks, Pensions, Social Security, and Hobby Income to live off of when I retired. Now I worry that due to hyperinflation, what might be there will be devalued to the point it's useless. In a worst case scenario, the economy goes into full crash and you can't even access what is there. Only my grandparents had to worry about that during the Great Depression.
Only you know what? THere are alot of things different now than there were back then. Back in the Great Depression for the most part we still had an agrarian society. We don't no more. People live in the cities and their ability to grow their own food and subsist on their own will be non existent. Back then friends, churches and families helped one another because there were no government handouts. Now everyone leans on, expects and down right demands those handouts - only what happens when those handouts don't come? What happens when the committments made by earlier generations to entitlement programs just to adjust for inflation when taken into context of the aging population (my boomer generation) will not only see that there won't be funds for us when we reach retirement age - but indeed if those programs aren't heavily modified will outright bankrupt the country? You can't keep spending trillions more than you take in!
The government can sit there and increase their debt limit all they want, print all the money they want - but what happens in the long term? Inflation, and if unchecked - hyperinflation. At some point when too much money has been produced, it looses it's value. And that sir can blow the bubble all to hell...I plan to have the land, fuel, food, guns, ammo, and PMs! If nothing happens - then I'm happy my childrens futures are secure with education, food if we should need it, land to inherit, knowlege on how to hunt and gather on their own, and PM's that will hopefully be worth much more than they are today.
The players have definitely changed but so have the scenarios. You can't spend more money in 3 years than has been spent in the previous 200 years, and continue to want to spend unchecked without somone, somewhere, sometime paying the bill.
Earl
Edited by EarlB
01/25/2012 11:33 pm
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Pillar of the Community
United States
1554 Posts |
I'm 57....Life was way tougher when I was a kid than now. When I was in my 20's work was hard to find that paid well. We all drove 10 year old cars. Work was hard to find in the late 80's early 90's. But then we all have different experiences. My Mom was born in 1929, was a kid in the depression, then there was world war 2. She and alot of her generation were quite affected by this as she still hoards almost anything and she's been doing this all her life. She probably spends 1/4 of what most people do to eat. I just don't buy the "end is near". People have said this for eternity. We all have lived through tough Times! Life aint easy! And that will never change. A hoard of Silver wont get you through an end times scenario, we'll all be in the same boat.
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Pillar of the Community
United States
2168 Posts |
Yes and back when we were young we paid for what we bought. Credit cards were a rare thing. I recall when they couldn't even be used in a grocery store never mind anyplace you go now. We lived for the most part within our means. The gold standard was just recently ended. While the gas crisis and 70s inflation were really terrible I can't recall the loss of hope in a brighter future. Now we have gotten to the point where our fiat $ is basically worthless but the balance sheets of banks and companies are so large that to even think of having the $ backed by gold or silver would cause them both to skyrocket. Hard too explain completely but just very different times. And yes the young 20 year olds can depend completely on parents and the govt for the most part
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Replies: 43 / Views: 4,340 |
Posted 01/25/2012 1:56 pm
