Silver getting crushed today

This post is pure gold. Several years later and it still doesn't get old. Silver is going to $100,000 per ounce:

http://www.roadtoroota.com/public/998.cfm

Honestly, there is no real money to be made in silver, except if you bought during the 20 year bear market from the 1980s to the early 2000s. Fiat is here to stay and money is going digital eventually. Got to love these PM pumpers who will take your soon to be worthless paper money and give you silver. What a selfless act.

Mind you, I'm not above buying some silver. I have some and have always had some, but I know it won't likely ever make me rich. For me it is a fun side thing. I like feeling the heft and holding nice bars. And it doesn't hurt that if you buy during the lows, your purchase may just keep up with the rate of inflation over time (as silver is an industrial metal). So it's a nice way to store money like a bank account, but more eye appeal than simply numbers on a computer screen.

If there is ever a major crisis and industry is disrupted, I'd expect silver to go down, but I suppose under certain very limited and unlikely circumstances (like a crisis with the Dollar that somehow didn't affect industrial demand that much) it may do ok to preserve some wealth, though it won't make you rich (especially if silver were to hit $100 but gas was at $25 per gallon.) Not that I'm hoping for that. I swear some silver bugs get excited about the prospect of a so called shtf scenario where we are all shooting each other, there is hardly any food and water, yet people magically trade you their last gallon of remaining water for a 1/2 ounce silver bar. LOL.

 

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Yup, it's basically all sideways until tomorrow morning from here. So tell me, why do most of the significant moves take place while the NYMEX in-person market is open? Could it be that metals are inherently more political here than in the rest of the world, where even actual Austrians don't even believe in Austrian School claptrap?

 

Snap some pics of it this year if you get the chance

 

I completely will if the itch to go to Tampa gets any bigger. My son and I planned to return this year, but my new place is getting kind of expensive to get it the way I want it. I may still pull the trigger and go, and then give my kid my car when we get home (I soon won't need one), but if I don't go, it'll be because I'm spending too much on my new wall-to-wall "man cave" apartment. It's literally becoming hard to find places for all the stuff in my coin holdings - everything from the coins themselves to their associated library. The place is loaded with picturesque "video podcast" settings, though.

You see, I do own LOTS of silver, but almost none because it is silver. Every silver piece I own, I'd still own even if it were aluminum.

 

Exactly what I did. Thank you.

 

what 17.07

 

I don't know why, but I have a feeling as interest rates rise that silver will be due for another bear market. Maybe that's just me, which is why I'm mostly buying poured silver/collectables bars now as that's the type of stuff I won't kick myself too hard for if silver were to somehow be $10 an ounce in a few years, and I'm only going to be spending money that I know I won't miss too much anyway(ie. hobby money).

What's your thought on interest rates and silver?

 

What chart are you looking at? I have silver at $17.12 right now

 

Maybe Bid ?
My chart says the same as yours provident's ticker .

 

I get a discount PMBull.com but usually use Bullion Desk but they are down for web work

 

I gave a talk, with Apple Keynote, not PowerPoint, at the Chicago ANA convention in 2011, at which I proved with data that inflation rates and metals prices, both in synch, and one year out of phase in both directions (to test for their being a leading or trailing variable), are utterly independent variables. Their covariance is virtually ZERO, and that goes as far back as data exists.

It showed that the inflation/precious metals narrative is either misinformed or a lie. People believe they're linked because other people write articles and websites. Problem is - nobody goes back and tests the assertion.

 

Nice gains today. Interest rates actually dropping a bit and bank stocks taking the kick to the shin. I’ve been waiting for interest rates to “normalize” for so long that I wonder if we are in a “new normal.”

 

You should maybe pay more attention to the US Dollar index in relation to Gold/Silver instead of interest rates. Or even Political statements as of lately.

 

How long would it take you to accept that this is the new normal? I know when I expect interest rates to get CLOSER to historical averages - when unemployment/underemployment is no longer the overhang it has been on this economy. The "gig economy" is okay for kids, but it messes with the expectations of what one can DO with the fruits of one's labor.

Remember, if one is underemployed, but not appearing on the Labor Department's radar screen as seeking different fulltime employment, they never get counted. I'm not suggesting the gig economy was created specifically to mask unemployment, but boy if it were, it was a brilliantly executed plan.

 

THIS is the "new normal".

 

Ouch! (lol) Wasted four years learning absurdities and now you lash out when confronted with the truth. So sad... (lol)

 

Keep digging, the mantel is down there somewhere.

So, do you believe there is such a thing as law, or are they all just individual words in books?

Do me, yourself, and for gawd's sake, the entire Internet a favor and look up the following:

The Fallacy of Composition
The Paradox of Thrift

And in case you don't read well, as seems likely, there's even a YouTube video for you:

 

Kurt could manage them (after a stint of basic math) and if they fell short, we could dock his pay or even lay him off for a time. I'm kidding, the post you quoted was just a little humor. Nothing is going to change until the private sector runs out of credit and the Keynesian dolts run out of excuses.

 

I know people pride themselves on being anti-intellectual in this country, and love to pretend their uninformed opinions on a topic are as valid as that of the expert, scientist, or researcher with a degree and many years of experience in the subject area...but maybe if you stopped putting down anyone with an education and actually listened, you could learn something.

While a degree doesn't necessarily guarantee the person giving the advise knows anything about the subject he is speaking on (ie. an Art History major talking about Economics or Quantum Mechanics), chances are someone who studies a subject for 4 to 8 years knows more about that subject than you ever will.

I'm a lawyer, and I'd say 20% of my clients are regular people who thought what they read online in some shady website or heard from a friend made them an expert in law and therefore they don't need the assistance of someone who does it for a living, then they come to me after they botch things badly and are desperate and in a state of panic because the court is about to throw their case out.

Likewise, I know enough not to pretend my degree gives me any insight into economics, or science, or engineering, so when I need to know about those subjects (or another subject I didn't study), I seek opinions from qualified individuals, listen to those experts, and keep my misguided opinions to myself.

 

Ooh, Danny now thinks arithmetic is a useful substitute for macroeconomics. What other wonders will such a cranium excrete?