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 Replies: 5,649 / Views: 461,266 |
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Pillar of the Community
United States
1590 Posts |
Isn't it sad when a drop of almost a dollar in silver makes me yawn? What I mean is that we have seen silver flash up and down by a dollar soooooooo many times that it almost doesn't matter. Mostly because a drop of a buck, can just as easily be followed by a rise of a buck, erasing the loss. Yet, Gold will still suffer a significant net loss. I almost suspect that we will see a negligible net, or zero, loss in silver and a fair loss in Gold; once the bargin hunters are through.
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Pillar of the Community
 United States
3789 Posts |
@Jim
yup I agree with that. And for that reason, such wild swings being common is typical of a broken asset, which I mean I dont know what else you call that, I have seen this pattern before.
Eventually this will be resolved, and I think the higher probabliites are for more downside.
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Pillar of the Community
United States
919 Posts |
I hope you are right yup. Still sitting with a good amount of cash. Waiting for cheap gold $20 coins (sub $500) and silver coins as well. Plan to do my 7070 gold page when we hit that level. Hoping to see the prices of 2001 again.
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Valued Member
Canada
281 Posts |
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Hoping to see the prices of 2001 again. Get comfortable and don't hold your breath, life is shorter than that unlikely occurrence. |
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Pillar of the Community
United States
919 Posts |
I can always hope. I'm just glad I didn't do anything when the St Gaudens were selling for around $1900-$2000 for an MS63. I'm starting to see them in the $1400 range on ebay. If we can get a pull back to $1000 I may start the lower denominations of the gold page. |
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Bedrock of the Community
13014 Posts |
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Get comfortable and don't hold your breath, life is shorter than that unlikely occurrence. If you live a long life theres a far greater statistical chance youll see those historical average prices return than not. The current leadership is old and wont be around a whole lot longer and no matter what there will be a new President in 2017 |
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Valued Member
Canada
281 Posts |
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If you live a long life theres a far greater statistical chance youll see those historical average prices return than not. Maybe if we get to be ruled by angels who only wanted to do good in advancing the human condition, then yes, gold would be meaningless to own (as an edge) But as you well know, that euphoric dream is far from what we're experiencing right now. The present delusive and chimerical financial world we live in, is the very reason why gold climbed up nonstop for 12 years. It's down now but the problems are still there if not worse and like I mentioned, another 2008 and PM's will rise (even higher next time). Most of us can agree there WILL BE another financial crisis, wayyyy before we pass on. |
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Valued Member
Canada
281 Posts |
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no matter what there will be a new President in 2017 Notwithstanding a Godly intervention I'm afraid basebal the next one will be worse than the present one and far worse than the last one. The proof is in the relentless and growing police state |
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Pillar of the Community
United States
1590 Posts |
A couple of comments and observations.
The first concerns all the articles talking about miners shutting down if the price goes down to 1k. Funny, there were mines and miners when the price was down below $400/oz.
The second is that back in the 80s we had an economic "Black thursday", We had anxiety over the national debt....and somehow Gold and Silver never budged. Strange....
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Pillar of the Community
United States
2168 Posts |
On your first point it seems the more one makes the more they want to make. Yes the PMs are being mined out and it does get more costly,however, it has only been just over ten yrs since gold was that low. For the second point I think back then most had great confidence in the US dollar, now many have realized it isn't quite the same. I have always felt PM were a store of value. Even way back when keeping all the silver coins back as a very young child in the mid 1960s
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Bedrock of the Community
13014 Posts |
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It's down now but the problems are still there if not worse At some point that becomes the new norm though and people adjust. As long as somethings stable whatever it is people adjust. Well have another 08 but well have have another booming 05 too. I bet if you asked during the great depression they would have said things are never going to improve. Quote:
I'm afraid basebal the next one will be worse than the present one and far worse than the last one.
The proof is in the relentless and growing police state If theyre worse than now we get what we deserve. Like markets that stuff seems to be in a cycle too. A period of giving up liberty to whoa what did we do and putting restrains on it rinse and repeat. The old guard is really whats standing in the way on a lot of things and they wont be there for ever. The younger members on the hill as of now are a somewhat different breed. At some point people have to wake up and see where its headed watching Cali bankrupt itself. If they dont frankly theres no point in worrying about it anymore and its time to move to Alaska or Texas and enjoy the great outdoors  For whats its worth and since history loves to repeat itself were close to due for someone who can actually allow things to get better |
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Valued Member
Canada
281 Posts |
@basebal
"At some point that becomes the new norm though and people adjust"
-As you say, as long as there's stability but as we all can see, its quite the contrary, unfortunately.
And if you look at statistics only, more people are suffering now than during the great depression...
"The old guard is really whats standing in the way..."
-They come and go but since your great D.D Eisenhower warned the people of certain dangers
from within 52 years ago, the people are NOT waking up fast, imho, because there's a comfort zone
that wasn't so present in the 30's, plus all the distractions...
But once we do, yes, WE will win (maybe with the help of) but not because of one particular individual.
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Valued Member
United States
339 Posts |
"The first concerns all the articles talking about miners shutting down if the price goes down to 1k. Funny, there were mines and miners when the price was down below $400/oz." Yes, and they exhausted their highest grade ore just to stay in business back then. Many mines today get by mining rocks that contain 2ppm gold. There has not been a "world class discovery" in decades. this paper is the "gold standard" in summarizing deposits by size and location http://econgeol.geoscienceworld.org.../88.abstractThe valuations on gold and silver miners are super cheap. One example, Silver Standard Resources (SSRI) has over 500 million proven and provable ounces of silver in politically stable parts of the Americas, yet there stock market cap is 487.75M. They are valued at less than $1 per ounce of silver they can prove in their deposits. Seems to me like they are struggling. |
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Pillar of the Community
United States
3789 Posts |
couple things I am looking at-
The gains from the FOMC minutes 9/18 are gone with yesterdays gap.
Yesterday a gap down. However, today a bounce back up however, does it fill that gap from yesterday?
It appears silver came into support yesterday as it dropped, hence the reason for reversing off of its lows yesterday. Also it appears gold stopped moving lower as it also found support. When I say support, by the way, I am talking about areas of support in terms of price.
These areas of support will allow gold and silver to chop around and its clear that the sellers have yet to take the upper hand.... and yet the buyers are not there either. Which puts gold and silver in no mans land, which is another way of saying gold and silver are broken assets.
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Pillar of the Community
United States
2120 Posts |
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I hope you are right yup. Still sitting with a good amount of cash. Waiting for cheap gold $20 coins (sub $500) and silver coins as well. Plan to do my 7070 gold page when we hit that level. Hoping to see the prices of 2001 again. Going to work on my gold page with these lows. I don;t expect us to go WAY lower any time soon, so I figure now is a good time. |
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Posted 10/01/2013 3:30 pm
