2011 GOLD high $1,500.00, SILVER high $24.00

Gary, what is a casino book? Just curious.. I get what your post means, and I like the point you make about not getting too greedy and to speculate with only that which one can afford to lose.. I always believe that is true in life!

 

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Thanks Lucy!!! I will be so very happy with just 2/3 again this year.

Gary, you are very correct. Greed will eventually kill if the asteroid doesn't.

 

I agree, I got lost reading it. LOL.... I'm sure it makes sense, but my brain is just too simple to understand what I'm suppose to do. Which means if I don't understand it, don't even try it!!!!

 

We all know that Silver coins have an established, well recognized value and are much more affordable than gold. As the economy over the world improves slightly, many more people are likely to be able to afford silver coins. I believe it likely that a greater number of investors will increase demand. In that case, silver should hover between 30-35 and fluctuate in that range or close to it throughout the year and possibly dropping some near the 4th quarter. IMHO

gary

 

Interesting read, I am only halfway through. Not too long and not too short of an article...

http://www.financeandeconomics.org/Articles archive/2011.01.05 Money dies.htm

 

A few years later after John Law...

 

So what are you trying to say? It's one huge rollercoaster?

 

Certainly it is always a roller coaster but there are messages from all sides, regardless something must change and will change due to so many factors overtaking and redefining the old structure of markets... in the 18th century, the context led to collapse of monarchs. Revolutions in the colonies and in France. What will change when money dies? will it be replaced with something lasting? or will it be another turn of an ongoing social and financial cycle?

 

I think what we get next depends on how much of the status quo we want to keep in regards to today's lifestyle.

I mean, if we come out with an identical system that starts everything all over again, would that really be a bad thing? Do we want to get rid of federal notes for a batering system that could impede the advancement of technology, medical and other types of markets?

Would the gold bugs be happy if everyone went back to the gold standard but life came down to a crawl?

It's kinda funny, it's almost like a dream where you know everything is fake, yet you just go with the flow. LOL...

 

Those questions are the kind of things the respective sides of these debates, declaring which way to go, have no long term answers for us before taking the plunge. Each side seems to find it's own perspective as being the solution that would implement an automatic fix to the problem of the moment if only everyone would institute one plan or other. I rarely see evidence from any approach convincing us that any system can be maintained for the long term. There is scant proof of feasibility through the din of those trying to warn everyone about what could happen if no one heeds a particular warning to warrant such bold moves. No one seems to offer any options should a particular course of action take unexpected turns in the future or even what to do if we just return to the same point we are mired in now.

An incoming Republican Congress-person interviewed yesterday said something to the effect that if they can't do the job they won their election to do they'll just go home next year because the people will send them home. That's it? One idea? Nothing more? No further struggle or compromise and creativity to make their idea work as they go about their mission should it not be waterproof? Fixing huge social and financial issues cannot be accomplished by brainstorming ideas then attempting to enact them by trial and error. While there are no certainties and there are so many factors that make it impossible to control a swift and solid fix to such problems, there really needs to be solid thinking, a concentrated effort, confidence and a goal beyond tomorrow.

Perhaps this is why I tend to see this through a greater context, that this change is just another part of a greater cycle. The best thing isn't necessarily to try to 'fix it' for the time being, for this or that generation, but rather to learn to swim with it and know how best to negotiate each turn your find yourself in this cycle. Anything else seems artificial and prone to failure.

 

The Dickens quote speaks volumes..
Money doesn't die, does it?, it seems as if it changes its form! There will always be something we measure by..

As far as life coming to a crawl if we were to return to a gold standard, I doubt it would. Regarding what would happen if we were on a barter system, one can only imagine! I live in an area where a lot of bartering goes on, regularly. (Small rural town, in an area that most of the businesses that were here have left.. very high job loss area..) Actually, it works neatly in many instances.. Folks short on cash swap services and goods for same. Interestingly enough, I get asked by my cpa each year if I have entered into any barter (trade) situations... I guess so I could pay tax if necessary..

Yep, the Dickens quote nails the time we're in! (IMO) And, the article ref'd above is thought provoking too. May well be right..
Lucy

 

The "casino book" is the area where wagers are placed on sporting events and horse & dog racing. It's for the bookmaking operation of a casino. I believe that only Nevada legally allows sports betting and I don't know if other states allow casinos to allow Off Track Betting (OTB) for horse racing ?

Yes, do your homework, take your chance doing the best you can. Be prepared to lose, may for a long streak. Always divert a portion of any profits to safer investments (put some in the bank when you win !!) and do it in a manner that doesn't stress you to an early grave. Anyone who can use speculation as a "toy" instead of a livlihood, should fare better than everyone else. When the fun stops, so do I. IMHO

gary

 

well I kinda gotta agree with schiff if your still selling those 1/10 age's for that $200 quote you gave me some months ago

 

That had an expiration date on it. I'll have to recalculate it's price now. Funny how you remind me of my 1/10's because I am always forgetting that I even own them. LOL....

 

Keeping good records is essential.

FWIW: As a gold selling experiment to test the waters, see how small weights moved in this market and to get rid of a one gram sized bar, I offer you the following results:

1 gm. buy - 7/23/09: $38.68 [London fix (PM) was $950/oz.] • $38.68 x 31.1 grams = $1,202.94

1 gm. sold - 8/15/10: $47.00 [London fix (PM) was $[SIZE=-1]1,214.25[/SIZE]/oz.] • $47 x 31.1 grams = $1,461.17

Differences: $8.32 [$264.25/oz.] • $258.76


As is widely known, it's nearly impossible to move and profit such small, typically overpriced units.

Maybe these results are helpful for others to see and learn from.

 

Currently: In US markets for Friday, 1/7/2011

Gold: $1,357.30/oz.
Silver: $28.52/oz.
Platinum: $1726/oz.
Palladium: $746/oz.

Let's see what the monthly jobs number does to PM positions before the weekend... Just reported this morning that employment in US is up (unemployment 9.4%).
​

 

Currently:

Gold: $1,366.20/oz.
Silver: $28.73/oz.
Platinum: $1735/oz.
Palladium: $752/oz.

​

 

shocked to see PM's go up with the jobs numbers you just reported....let's see how the rest of the day does....

I know I paid a premium for my 1/10 oz coins. It was worth it for me to test the waters. I'll probably have to hold onto these for a very very long time......I do think though that the fractionals/grams will be popular down the road when it's the only affordable gold people can get.....

 

Bernanke is currently speaking on rates, inflation and jobs... also see this effect on PMs, mostly unchanged since previous PM numbers posted here.

If it gets that bad, perhaps it will be 1cm x 1cm gold leaf squares attached to quarter sized clad coins people are able to afford gold.

 

PM's always go up when economies hit a "panic mode". High unemployment means many more are worried about the future of currency and it's value. When total social economic collapse occurs as often during times of war, PM's are the only viable means of exchange for escape. Although we don't seem to be anywhere near that point, it would appear that many are interested in buying some "insurance", which as previously discussed, is what PM's really are. When unemployment numbers jump again in Feb or March, after the holiday season layoffs offset the holiday season hiring, I expect to see another rise. With all the world focused on the US economy, coupled with the elevated oil cost, there seems no reason to think otherwise. And the highest percentage should be in Silver ? IMHO