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 Replies: 48 / Views: 6,010 |
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Valued Member
Canada
281 Posts |
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Should we, in fact, sell everything we own right now and buy more when prices fall even lower? Heh, Barry, I wouldn't do that if I were you, for the simple reason that when the CRASH comes (and it will) its going to go down fast and furiously with no time to replenish your stash (imho) |
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Valued Member
Canada
281 Posts |
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just saying not to get caught up in the fear mongering that the world is going to end I'm sure you'll correct me if I'm wrong but I never read that on any thread I've been following But if you think there won't be a whole lot of doodoo thrust upon all of us and fundamentally change the world as we know it now, you're kidding yourself |
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Bedrock of the Community
13014 Posts |
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I'm sure you'll correct me if I'm wrong but I never read that on any thread I've been following
But if you think there won't be a whole lot of doodoo thrust upon all of us and fundamentally
change the world as we know it now, you're kidding yourself Theres been some hints at it from some things that were based off of fear mongering sources or very similar if they hadnt seen it. Theres been a number of such articles posted as well Its not that those things are always lies but theyre half truths. Theyll tell you you cant find silver anywhere but leave out the fact that its common with extreme price swings either way in short periods of time. Theyll say theres a shortage but leave out that its just a supply and demand issue not that the mines have run dry and no more will be on the way. Theres more examples but when you start at a conclusion you can pick and choose things to support it rather easily. The worlds definitely fundamentally changed, that happens all the time. 9-11, WWII, Vietnam, Desegregation, Women entering the work force, the worlds constantly changing and theres 100s of examples of large fundamental shifts that have occurred in the last generation of two. Again things arent great, but dont underestimate the ability of people to adapt or America to pull through and bounce back. America and humans in general do their best work in times of crisis. This isn't the first bad situation weve been in or even the worst, and it wont be the last. My point isn't to not buy metals at all, just stop and think about your reasons and dont bet the house on it. Most people dont go to extremes and realize its not you have to be all in on metals or completely out, but theres enough stuff said here and there about money being worthless or everything being a large world wide conspiracy that I just want to try and bring some perspective too it. I dont have a dog in the fight other than to say that I dont like the sites that public scare articles to build their own wealth, and that anyone buying because they think the worlds coming to an end soon should be actively rooting for themselves to be wrong |
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Valued Member
United States
264 Posts |
@barryg, Really?  Why would you ever take the advice of an ETF trader? ETF traders are the banksters and crooks of Wall Street. Until now, I had a lot of respect for you as one of the leading physical bullion traders at CCF.  The rest of CCF can continue to ignore my posts, but I still have an opinion and you just had to read it.  |
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Pillar of the Community
 United States
5863 Posts |
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Why would you ever take the advice of an ETF trader? Whoever said anything about taking his advice? I'm just trying to give him an opportunity to state what his advice is with regard to physical ownership of precious metals instead of constantly barging into threads, declaring that everybody should "sell, sell, sell" and "not be left holding the bag" and then eventually mentioning that he is actually only talking about ETF and "short selling." If he actually has anything to say about physical ownership of precious metals, I would rather he talk about that in threads that are devoted to that subject, that's all. |
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Valued Member
United States
264 Posts |
Thanks barry.  |
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Pillar of the Community
United States
2335 Posts |
I don't pretend to be an expert so take everything I say with a grain of salt. Over the last several years the price of PM's has increased at an unsustainable rate. When a commodity(or asset, stock,etc) increase at an extremely high rate over an extended period of time it's almost inevitable that there will be a correction. Obviously over the last 18-24 months that correction has occurred & may still be occurring. IF I had to give my best guess as to what will happen next I'd say we are probably going to be in the $18-28 range on silver for the next couple years, & I think it will mostly be in the lower end of that range.
I've been expecting the correction to start in earnest since the middle of last summer when some of my non-investing friends started telling me they were going to invest in gold or silver. These are the same people that jumped into the internet market & then real estate just in time to participate in the crash.
I'm sure there are many people here that won't agree with my opinion. I don't have any problem with that. What I don't care for is people that claim to know exactly what will happen at any given time. It doesn't take a genius to say they can spot a trend AFTER the price of a commodity has dropped from the mid $30s into the upper $20s. It also takes a special type person to warn against investing in paper PMs while simultaneously endorsing physical PMs.
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Pillar of the Community
United States
2543 Posts |
Might as well throw in my Two Cents, this is a coin collecting forum, sick .......sick........ sick of the 1000+ threads on " what happens gold and silver now ? " I like silver bullion coins, I collect them, but never in all my years have I ever bought a coin thinking " how much will it be worth tomorrow ? " I am a coin collector not a PM hoarder. I can honestly say apart from how it affects the U.S. economy " I really don't care what happens to gold and silver." And there is certainly no need for three new threads daily to discuss it. I have taken Yup to task in the past on his inexplicable need to be obnoxious, condescending and troll like in expressing his views on gold, silver, GLD and SLVR. He steadfastly refuses to outline any basis for his opinions or advise. Claims to be a trader, but do to lack of any evidence to the contrary, is more likely a kid with a computer and a bedroom full of old Wall Street Journals living in Mom's basement trying to create an online persona as a " high roller " That being said, if you strip away the infantile, teenage obnoxiousness, he seems to be a well informed , smart kid. His opinions and insights are well thought out and quite interesting to read and contemplate. While his nethers must be exceedingly chapped from riding the fence so much, I had new found respect for him when silver was sitting at $27-$28 for a month or so , and he advised there was still room to fall and we might see $25 or lower. I took him to task on that repeatedly, and sure enough. He is not making any friends with his presentation, but again he appears to be a smart kid. Don't follow his or anyone else's advise on this forum, for physical or paper pm's. But information and assimilation of diverse opinions are the key. And while they appear (lack of any evidence provided to the contrary) to be baseless, Yup's opinions are worth reading and are a daily read for me. Now if he will just keep them in his thread  Edited by denco7
04/26/2013 09:22 am
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Pillar of the Community
Mexico
1304 Posts |
denco7, you pretty much summed up some of my thoughts about our fellow forum member and coin collector. I'm not completely in agreement, but the differences are negligible. Honestly, I too thought he was a troll when I read some of his first posts...but after putting aside the obnoxiousness, found some interesting opinions. I too watch trends, and have appreciated his comments (once filtered for obnoxiousness) and have plainly asked to talk to him off-forum to get some of his sources for his opinions to no avail. Still, I must admit, I have appreciated his comments and insights even if he an "ETF trader" who "are the banksters and crooks of Wall Street."  |
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Valued Member
United Kingdom
90 Posts |
The bottom line is, the price that we buy or sell physical IS dictated by the market trading. Whether that's mostly paper or not is irrelevant. So what better person to give an insight into this world than someone that actually does it. Instead of attacking the guy, I'd be grateful for having a real traders perspective to offer his insights. You don't have to take his advice, but it all adds to the pot of information for which we can make our own decisions upon.
And besides if some of you you really see ALL traders as some kind of evil person, well, remember the saying: Keep your friends close, keep your enemies closer ;)
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Pillar of the Community
United States
5863 Posts |
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So what better person to give an insight into this world than someone that actually does it. Instead of attacking the guy, I'd be grateful for having a real traders perspective to offer his insights. But the problem is, what is his advice when it comes to ownership of physical gold and silver? He keeps saying, "sell, sell, sell" but then admits he's only talking about "selling short" paper silver and gold. What's the point in saying that (over and over again) when people are discussing whether or not to buy or sell physical bullion? |
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Valued Member
United Kingdom
90 Posts |
He keeps saying sell sell sell? You sure you're reading the right posts?
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Bedrock of the Community
United States
36878 Posts |
Traders are there to make a fast buck by flipping when a profit can be had and they serve a purpose in an orderly market. They are not evil and buy PM's for a reason other than what many of us buy for. It boils down to what you believe the future holds. I doubt that the U.S. dollar is going to survive as the World's Reserve currency. It's value will continue to fall with the current run away spending and $17+ trillion in debt that continues to climb. No way to pay that off without a major devaluation or run away inflation. I don't wear a tin foil hat, I just look at things in general and see many things that do not add up. So for me, gold and silver offer some protection from a financial disaster that I do believe is coming.
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Pillar of the Community
United States
2543 Posts |
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So what better person to give an insight into this world than someone that actually does it. Instead of attacking the guy, I'd be grateful for having a real traders perspective to offer his insights. Seriously people, my sister in-law is a partner in a Capital Asset Invest/Management Firm, I show her his posts and she laughs " who talks like that " she says " no traders I have ever dealt with " Trust me ...... he is NOT a trader, he has given no reason for anyone to think that he is. He is a troll who reads the financial news. That is not to say that his opinion aren't without merit and should be contemplated, but they are " just his opinions " and should be considered as nothing more than that. I'm a plastic surgeon(trust me I am) anyone want want advise on nose jobs ?  |
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Pillar of the Community
United States
3789 Posts |
As I have said, they are in a strong downtrend- if you want to buy physical gold and silver, dont buy every single dip. There will be much lower prices to be had, and physical coin buyers can guide themselves by the futures market, which is why I am posting the direction of the market in terms of price, so as to serve as a guide. Denco, give me your sister in laws firm name and her title. A "partner" is vague, Furthermore, capital asset management? Whats that mean? Real estate? Bonds? Commodities? Those firms dont have traders at their desks Sounds to me like your sister law is nothing but a financial adviser who pushes product You give me her name and her firm and then we can see who's really who. Lets get this straight, trading firms dont give a hoot about some capital asset management firm says, besides, they wouldnt like trading firms that are selling short the products they sell to the public that dotn work nice try Denco,,, until you give me her name and where she works then I wont believe that she claims shes never talked to any traders.. and why would she anyways, traders work off technicals and price,, everyone else talks about verbage and sells product on The STreet.. and then why I have her info i';ll call her and have a nice chat why she doesn't know about traders and why she would be selling gold and silver to the public when its caught in a downtrend when they could very well lose their shirt Edited by yup7676
04/26/2013 12:44 pm
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Replies: 48 / Views: 6,010 |
First Page
Posted 04/26/2013 03:02 am
