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 Replies: 36 / Views: 4,545 |
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Valued Member
United States
103 Posts |
*** Moved by Staff to a more appropriate forum. ***
While listening to the radio the other day I came across some add stating that during times of crisis silver value rockets to 1/16 that of gold. Then I later hear another guy predicting gold to rise to $4000.00 an ounce. That would put silver at $250.00 per ounce. Has anyone else heard this before? There has been a lot of talk about the dollar being dropped as the world currency reserve. I couldn't think of a larger crisis than that. I'm not saying I buy it, but new bills are flying out of the fed like a pinyata exploded.
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Pillar of the Community
United States
2120 Posts |
Ive heard a lot of people (the silver nuts) say it could touch $250/oz by the end of the decade.
Is it going to? *shrug*
Is it going north of 75$? I'm betting on yes.
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Moderator
 United States
14463 Posts |
After my recent purchase of 65 ASE's, silver at $250 per ounce sounds very good.  |
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Pillar of the Community
United States
1064 Posts |
$4000 and ounce for gold seems a bit ludicrous, I just can't see that happening. BUT, I guess I woulda said the same about $1600 gold not too long ago. It seems outlandish...
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Valued Member
United States
277 Posts |
While I love the sound of 250 per ounce of silver I think I am being reasonable by saying 50 + and ounce by the end of the year and maybe 100+ by the end of the decade at best. I highly doubt you will ever see it under 30 again. I could be wrong though I didn't think it would dip below 40 again when it almost hit 50 some 6 weeks ago.
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Pillar of the Community
United States
860 Posts |
The rub is that if the USD improves, the price of USD denominated commodities like silver, gold, copper, etc. will decrease, so many are rooting for a decreasing dollar by hoping for an increase in commodities. So,which countries has enough currency float to become the world reserve currency if not the US?. Not many. And of the countries that do, how much of a default credit risk are they? This URL gives the credit default rates of the major countries currencies daily. http://www.cnbc.com/id/38451750 It is like an insurance schedule showing how expensive it is to get insurance against the countries' defaulting on their debt. Some like Sweden and Finland has little chance of default, so their rate is low. Greece has a high chance of default comparatively, so their rates are high. China, Russia, etc. do not have rates, as their books are not open enough to take chances. Anyway, check the US, we are not the best, but the US is a long way from the worse. Believing the US currency is going to nosedive while others won't is a recipe for financial disaster also. Possibly all currencies and economies will nosedive, but value and exchange will still be relative. I think the supply/demand for silver is between $20-25, and would be a floor for my thinking,IMO. Jim |
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Valued Member
United States
136 Posts |
There was a article not too long ago about either the IMF or the Federal Reserve, I dont recall which at the moment were considering a new reserve currency because of what is going on with the dollar. If that happens we are in deep doo doo. Will it happen? I used to think never but more and more it seems like a possibility. Maybe not now, or next week or even next month but if things dont change I think it becomes a stronger possibility. And the new reserve currency they were considering wasnt based on any countries currency but some new trading currency they would come up with. They had a name for it but at the moment I do not recall what it was.
My personal thoughts on it is that if gold continues to go up then its going to pric people out of the market and then they will want to buy silver as some kind of hedge and that in turn will push the price up. I'm no expert but I certainly dont see gold going to $4000.00/oz anytime soon and I personally believe as stated, before that happened (if it should) people would be jumping ship to silver, driving up its price.
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Valued Member
United States
136 Posts |
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Pillar of the Community
Thailand
1509 Posts |
I'll stick to my Galactictic Credit Units. Good throughout most of the Universe for at least the next 500 years.
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Pillar of the Community
United States
802 Posts |
I wouldn't mind that happening at all :) Unfortunately with my small investment in PMs I couldn't afford a top of the line car if futures went up that high lol
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Valued Member
United States
62 Posts |
I remember reading in time or newsweek months ago that Russia was HEAVILY pushing for a new Reserve Currency.
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Pillar of the Community
United States
860 Posts |
I don't want to hijack the thread, although it does relate. Even in the SDRs, the USD has been the higher percentage for quite a while. The IMF does adjust the "Basket" as needed if one currency is dragging down. But each currency is not evaluated isolated, but in relation to the others. Oddly enough, the populations of one of the more stable (US)often see their currency going worthless, and countries ( such as Greece) sees their horribly worse financial situation and currency as a "birthright". I bet some in Germany's political system have thought very bad solutions.
Russia and China very much want to be a world currency, but they don't want to allow the other countries to know what is really happening within their own country economically. Transparency is nonexistent for the most part.IMO.
Dilithium crystals are an excellent commodity :)
Jim
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Bedrock of the Community
Australia
21786 Posts |
Comments are worth making and considering those of others, and some wisdom can be gained that way. The markets, however do what markets do.
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Valued Member
 United States
103 Posts |
Thanks for the link StormStrikes. Doesn't sound good.
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Bedrock of the Community
United States
17884 Posts |
Quote:
I came across some add stating that during times of crisis silver value rockets to 1/16 that of gold. Well it's nice to know we haven't had a "time of crisis" in a long long time. Silver hasn't reached the 16 to 1 level since the early 1870's. |
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Pillar of the Community
Mexico
1304 Posts |
Ok folks, remember that if silver does go to $250 quickly, the economy will be toast. We might be able to say "wow, I can sell my PMs for lots of funny money!" However it's more likely that we'll be saying "hummm...food costs 10x what it used to, how am I going to eat?" Just a thought. Edited to improve sentence structure  Edited by harrison2
06/09/2011 10:42 am
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Replies: 36 / Views: 4,545 |
Posted 06/08/2011 9:40 pm
