When will Silver be Cheap again?

Silver will be cheap again when gold is cheap again.

 

Log in or Sign up to hide this ad.

Hard to say what the future of silver will reach, but I believe its gonna go on the rise again close to $50 again!!!

 

where r u i need bread its 3.89 here

 

When will silver be cheap again? I think it is cheap right now. :smile TC

 

Thanks to the Hunt brothers.

From wikipedia:

http://en.wikipedia.org/wiki/Nelson_Bunker_Hunt

"Silver manipulation
Main article: Silver Thursday

Beginning in the early 1970s, Hunt and his brother William Herbert Hunt began accumulating large amounts of silver. By 1979, they had nearly cornered the global market.[SUP][6][/SUP] In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million ounces (6.25 million pounds).[SUP][7]

[/SUP]
During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later. The largest single day drop in the price of silver occurred on Silver Thursday.[SUP][1]

[/SUP]
Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.[SUP][1]

[/SUP]
In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US$10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market stemming from his attempt to corner the market in silver.[SUP][1][/SUP] This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period."

 

WOW!

That is one gutsy prediction! And while I completely and utterly disagree with you (I mean, seriously? $6?), I give you major points for sticking your... man, I've been edited so many times on this forum recently... NECK... for sticking your neck out there like that. Respect.

That being said... DUDE!! $6?! If silver ever goes to $20, I'm mortgaging the house, backing up the truck, and buying until I can't buy anymore. Have you heard of the financial crises currently underway... all over the world? If money (dollars, pounds, yen, Euro, etc) is worth less and less (printing), and our governments (and hence - us - owe more and more, how on earth do you predict that silver will drop so low "in the coming months?" BTW - care to put a finer point on it? How many months maximum?

 

I have lots of bread to trade for silver coins.

 

Did you read ikandiggit's post? You'll soon learn that the bubble then was created not by a true demand and collapsed within 2 months after it was all uncovered for the most part. So I would not hold that $50 an ounce as a true demand, it shouldn't have never gotten that high in the first place in that short 2 month time period.

So I'd say the analogy stands as a really good one, REALLY GOOD ONE in fact!

 

Silver will be cheap again when Chuck Norris says so.

 

Chuck Norris wants you to sell off all your silver and buy his late night abs workout device and video. That's when he cares about silver, when it's turned into cash given to him! :thumb:

 

But of course that would be "picking your dates".

I'm actually quite confused about your calculation in any event. Silver swung by more than 5% last Friday. If you naively "annualize" that by multiplying it by 365, you get "over 1700%". But if it went up by 5% every day for a year, the total increase would be much higher due to compounding -- on the order of 5,000,000%, I believe.

Of course, in the real world, silver also has days when it drops by 5% or more. Try "annualizing" that​ change.

 

Many will tell you that it is cheap right now. Think about where the price is going rather than where it used to be.

 

Silver generally goes down in price the day after I buy some

 

i see silver trending up till April 15 with IRA buying

 

I actually used 260.7, not 365. Silver doesn't trade on the weekends. You are incorrect about the compounding as this isn't interest being paid at a bank. When you annualize such an increase, you simply use the dollar amount and add it up. It simply gives the reader a "perspective" on the magnitude. It wasn't meant to be taken as seriously as you are attempting to take it. The real point was the "why". I'd say you would be better served looking at that.

 

IMHO silver is a long term investment. That means, buy low, buy steady, put it in a safe location/bank vault and forget about it. Just forget about it. Do not stack it and use it as a mirror to comb your hair. When you reach your golden ages you can take fantastc trips and use it to sit in an AU recliner+watch sports. If you are set for life (give to charity). Big time safety net when you are talking BBI's Bulk Bullion Investments.

 

Silver will go thru the roof in the next 4 years
Look for $77 an ounce
I have never missed

 

I'd love to see a major dip

 

Curious, could you give us a recent example, or are all your predictions in the years to come? Can you predict down turns in the future as well? If so, what will happen after your $77 high? I can predict it will either go up or down. I have never missed with this guess either.

 

Let us know when you decide to purchase some. Thanks a million geezer.