August Price Ideas?

If you can dispute anything I've said with a logical retort then I will consider thinking about it.

 

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I too was in that industry with CompUSA when I was younger. It was all about the sales push, and results were all that mattered. I did it as a part time job until my moral compass also got the best of me.

Ever here John Pinette about when he went to buy a plasma tv?

Salesman: You should buy the extended warranty
John: Why?
Salesman: In case the tv breaks
John: If the tv is going to break, I am not buying it
Salesman: The tv is not going to break
John: Good I will buy it then
Salesman: So you want the extended warranty then?
John: Why?
Salesman: In case the tv breaks
John: If the tv is going to break, I am not buying it.......

It was a hilarious bit. It ended with the salesman finally admitting he got $200 if he sold it.

 

Lol. You sir were the one dismissing my points with "no need to discuss further". I cannot retort that "fact".

 

LOL, myabe everyone should be in the industry a bit, better than a college educaton for understanding the ways of the world.....

 

Your "points" did not undermine anything I've said. It was basically your personal view out your window and your personal education trying to be used to undermine undisputable facts that we should not need to even discuss. The truth is self evident. I have provided more than adequate bread crumbs but my time is valuable to me so I'm not going to do all the legwork creating a post with links and pictures to say "here's the proof" that any search engine can easily provide.

If you want to continue defending fraudulent behavior more power to you, but I will continue to point out why you are wrong for the sake of the uninformed you so love to hang your hat on. If you would prefer to avoid these conversations then stop defending criminals and I will be a happy silent observer on the topic knowing that people are not being herded into the kiln on my watch.

 

Slow your roll, chief. You have now basically tried to label anybody that is stacking as a victim, which is a far cry from what anybody on here is. In fact most are pointing out that they have a belief and the core of the belief is the system of currency we are in is broken because of all the various counter-party risks involved.

Just so I'm clear, you got out of retail sales to get into brokering?

 

These are your breadcrumbs, huh? What does a timeframe of QE have to do with anything? You are the one viewing the coincidence of QE(whatever) and stock appreciation as a cause/effect relationship. PROVE it is anything more than a coincidence.

How am I a "wallstreeter" now all of the sudden? I have written repeatedly I have never worked in NY, for an investment bank, etc. I have a ton of initials behind my name, but that is because I like school and tests. Some are MBA, CPA, CMA, etc. Does pursuing knowledge now disqualify me from having an opinion? I would kinda think someone who has a background and professional experience using these markets might kind of be welcomed as an opinion. You know, as opposed to those who like to simply blindly parrot back what they have read, and have no intellectual basis on their own to form their own opinion like many do, (not saying you man, take it easy).

I have EXPLAINED how the accountants do not offset contracts in their estimation of the value of derivatives, they count them in sum total. So, I could have a contract for silver, one short and one long, and this could spiral out of control until there are hundreds of contracts the accountants are counting but they all offset. In the end only ONE BUYER and ONE SELLER, but the accountants gross this up by a factor of 100. THIS is why I say the derivatives market are GROSSLY overinflated as to valuations. If you cannot see this point, or how on the whole its a zero sum game and the only risk is to firms being stupid and buying derivatives they do not understand, then I cannot say any further.

As to Balance Sheets, the only ones I would worry about would be those with huge derivative exposures. I have already said I do not invest in them, and have warned against them. Old rule of thumb in Finance, NEVER invest in a company you do not understand how they make money. This rule kept me away from Enron, internet stocks, and a whole slew of other disasters. YES, there are risks, but in my view you are throwing away 99% of stocks because of 1%.

Maybe I am just an optimist. I believe the economy will recover, the world will go back to normal, and as a result I wish to own shares in some successful firms. If the world does not go that way, I also own some PM and land. However, holding my entire portfolio that will only be successful if the whole world turns to crud seems like a depressing way to invest. So call me an optimist I guess.

 

C'mon Peace, we have no beef here. First, just to straighten things out, I am not into brokering, never have been, Quite frankly, I don't have the stomach for it. I am an IT professional for big Pharma

Now, Lets get down to brass tacks. We are discussing here, please hear me out. It is known fact that the equities market has been the best performing mainstream asset class. Not much argument there. So, the first question is why wouldn't everyone want to own stocks. That is simple, it can be risky, right? People fear losing their money. Fear is a needed emotion, and as long as it does not get out of control, it is a good thing. No one should be insulted to be called fearful. I am fearful of just about everything in the financial world. My solution to that fear is diversification

Now, the stacker crowd does indeed fear the equities markets. They fear it a lot, they don't trust it, they fear it will collapse. They fear the entire financial system. There should be no argument here. So we take it farther. Where did these fears come from? They did not come out of thin air. Opinions and beliefs require input to be formed. Well, many permabulls read the bullion bloggers, the silver sites, etc. etc.. I know this since they quote them so often and post links to articles from them. So, it is not a stretch to think that many folks opinions were influenced by what they read from these folks. Heck, my opinions are certainly influenced by what I read. I don't think the stacker crowd is any different. Like I said, opinions do not come out of thin air. Input is required.

So now the problem, these silver sites and such have definite strong ties to the bullion industry, there really is no question. They have an agenda, and they are not looking out for your best interests. They want to sell bullion direct, or are a front for someone who wants to sell bullion. This is why I brought the salesman angle into it. Salesman want to sell. That is what matters, and they use fear to do it.

So, to wrap it all up, if someones opinion has been influenced by someones else's desire to sell bullion, and the salesman was using fear as a motivator, do you really think that is all right? If these folks lost a buttload of money, because they bought Silver at $46 after reading what a great price it was from a salesman who was using fear mongering as a tactic, what would you call these folks. I call them victims.

Now Peace, even if you don't agree with me, can you at least agree it is worth discussing? Even if it may be a bit distasteful to some? There was no malice here.
.

 

Please be specific on how Chris is defending fraudulent behavior and criminals...... They are pretty inflammatory comments. What is the name of just one of these criminals and what is their criminal behavior. In addition, what was said to defend them. If you cannot fulfill this request, please rescind you comments.

 

Quantitative Easing is a very good reason to fear the financial markets imo.

MikeM, are you still short silver, long or no position if you don't mind disclosing?

 

I don't see why on earth you'd consider them victims, I guess that is part of the new blame others for my own mistakes mentality that has invaded America.

So everyone that invests in something that goes down in price is a victim? There is always someone pumping every investment out there, so it would seem that is what you are suggesting.

 

No position, looking to buy around $18. Both physical and paper.

 

Tinpot, I have no issue with your opinion here, like I said, it is worth discussing, I just did not agree that the topic was somehow verboten

To answer your question, No, I don't believe that everyone who invests in something and it goes down is a victim. I do believe that when a salesman uses unethical methods to sell his product, if the individual is influenced, and then in turn suffers a loss, that person has been victimized. Now please understand, I am not saying that relieves the individual off all responsibility. I am a huge believer of personal responsibility. Think of it like this. A person parks his car in NYC and leaves his wallet in plain view on the seat. Low and behold, his car is broken into wallet is stolen. Now the guy was irresponsible for leaving his wallet in open view, but he is still a victim

So now back to bullion, yes I do believe the bullion sites use the unethical tactic of fear mongering, and leave victims in their wake, but what it unethical, I do believe is debatable.

 

Me too, and the federal debt scares the bejeebers out of me also, but not enough for me to miss good opportunities to grow wealth. Of course there are risks. That is why I am such a fan of diversification, it helps mitigate those risk. To bring it back to bullion, PM's are also loaded with risk too. I mean like what, folks think equities are too risky, but the drop in Silver from $48 to $21, No big deal?

Life is a risk sport my friend, Peace out..

Mike

 

But, but, but Mike, it still has its " inherent value" !! In many minds it is still " worth" $48 an ounce.

 

You guys are still missing the point. There is still plenty of currency to be made with silver, you just need to understand the market and make it work for you. It still does have an inherent value, and much of it is still sold at well north of $48/oz, but you guys probably don't want to talk about that, do you?

Of course you could play on Wall Street and hope the sharks don't eat you alive, but who really wants to swim in a shark tank.

 

Now back to the original topic, nobody, and I really do mean nobody knows for sure. You might get a guess, and they'll probably tell you after the fact that they knew it all along, that their info was dead on, or maybe in the neighborhood, but in the end there are so many variables that you just never know for sure. It could be $8/oz and it could be $48/oz, but how would anybody with a reasonably sane mind tell you that? Better yet, maybe they'll back up their post with a guarantee to make up the difference? I wouldn't count on that either...

 

I would love to talk how much of it is sold well north of $48. I would think everyone would love to hear it. In fact I think the board would make you King if you could show every one how to sell their Silver North of $48, C'MON Peace, spill it

 

Buy the right items and sell them at the right time. It's not that hard...and I'm kind of proud that you don't believe me, it's heart warming.

 

Don't feel like you have to spend it the second you get it. Buy the dips