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 Replies: 36 / Views: 5,238 |
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Pillar of the Community
Canada
1581 Posts |
Down about $10 (20% from the high) and still falling fast. It feeds on itself since people simply will wait expecting it to go even lower.
The CME boosting margin requirements repeatedly seems to have had the desired effect. But, what kind of market wants to eliminate customers?
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Pillar of the Community
Canada
3692 Posts |
Same reason Rolex and Bentley cost so much. If an average Joe could afford one, what would be the luxury in having one?
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Pillar of the Community
Canada
1554 Posts |
 It's a good time to sell your inventory Gang, before the Bubble bursts! Remember:"He who is greedy is always in want". Glenn |
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Pillar of the Community
Canada
1733 Posts |
Sell? None of the conditions that caused the rise have gone away. I'll sit and smile. It's not greed, I just don't care. Commodities are up and down all the time.
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Pillar of the Community
United States
1817 Posts |
I'm with ugly. National debt is still sitting out there like a ticking time bomb.
Feel bad for the kids that will have to deal with it.
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Pillar of the Community
Canada
1581 Posts |
The reasons for gold going up are still with us. But, silver was flying way ahead of gold in the past year. It wasn't and still isn't clear if the gold/silver ratio people will accept will trend down over the coming years, or we saw a bubble spike that will deflate back to traditional ratios.
Is silver going to be 16:1 (old history ratio and the ratio in the ground), 32:1 (recent spike), or 64:1 (a modern ratio)?
If people start bailing on the silver ETFs, then silver could correct down all the way to $25. But, that is still 50% up on silver's base when the divergence from gold began (~$17).
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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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Replies: 36 / Views: 5,238 |
First Page
Posted 05/04/2011 2:14 pm
