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

The higher PMs get the greater the spikes. Dealers have to sell and buy.
The dollar is measured against other fiat currencies.
Short sales should be showing a different direction. J.P. Morgan had a lot of silver out there short. Who covered that and why such large shorts except to pressure a relatively small market ?

 

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Gold: 1372.30
Silver: 28.97
Plat: 1695.00
Palladium: 735.00
Approx. 12:20 p.m.

Relatively quiet for the end of year I'm supposing.

 

Sure looks like $29 is the hover point of rSilver right now ? You know, even if it were to fall, I am sure the mines would slow production to try and get the price back up. I just think it will be quiet till next year ??

 

With the run up in prices this year, I feel confident that the miners have already sold as much future quantity of PM as possible into the market's futures area, to protect their current gains, and if they were to slow down production or even have a bad problem, they might have to buy offsetting contracts at greater expense than production cost. If the rumors are correct, such as with SLV, production for several years in advance is already sold into the system. IMO.
Jim

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I don't see a halt in mining unless the bpttom falls out of the prices. And Nevada may add an increase to the tax miners pay (very likely) and that should help to keep prices up I think.

 

This is why capitalism works. I feel it goes hand in hand with decreasing prices.

In 2000, a 14" LCD monitor was about $2,000. When I was in 9th grade, CD burners were just starting to hit the shelves. They too were about $2,000. My friend bought one and it was just too cool....

Now you can get any of the items above for nothing.

If the gov't were involved in making these items, they would either go out of business or you would be paying $10,000 for a slow CD burner today. LOL....

Case in point, the ever INCREASING prices of stamps from the USPS. I can't wait to see them use that same tactic on GM cars....

 

Maybe not US Capitalization though, because i.t seems the prices fall because of the Asian manufacturers

Then becomes the human rights problems of children working in sweat shops as virtual slaves to make shoes. With capitalization comes exploitation. Of people, resources, environment and destruction. Someplace there needs to be a balance.

Although it is my belief that Japan with it's investment into wave powered dynamos and interest in robotics will someday produce goods with nearly zero labor cost. Add zero costs for transportation, utilities, etc. free of pollutants, that economy will far surpass that of the rest of the world. IMHO

 

True, there is a human element when it comes to the labor side that I left out. But all in all, prices DO come down as technology gets old in general. Innovation comes from businesses willing to take risks with "limited" capital. The gov't doesn't work the same way. I am blessed and happy for what NASA has given us all these years, but the space program is extremely expensive, no accountability for overpriced parts, they just pay.
If the space program was handed over to the private sector when NASA started, I wonder what we would have now?



Here's a link to an ATM that spits out gold in South Florida.


http://www.cnn.com/video/#/video/us/2010/12/18/dnt.gold.atm.cnn?hpt=T2

 

Fancy ATM skips the folding cash, spits out gold [12/17/2010]

Here's my post from that thread with links to other threads on CT about these ATMs:

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When I saw the video, something occured to me. The 1oz coins are just too much for any kind of barterring. Now, I don't beleive we will get to that point where people are exchanging gold for ammo or water. LOL....

But I saw the 2 grams that it was spitting out as well for a little under $200 bucks....I'm wondering if the grams will be the popular choice to be used for "some" kind of transactions?

Or will silver bullion be the ultimate choice for that? Since 1oz of those are even that much cheaper.....

 

If it should collapse (which it won't), Silver Quarters are believed to become the exchange standard. I say that because after selling a few rolls on eBay, I started checking out the on-line PM vendors to see how well I did. I started seeing that Washington Quarters were listed, but marked "out of stock" or "no longer available". THAT got me to thinking, that perhaps I should hold mine for a while longer. Obviously demand has outpaced supply, and when you consider the melt factor, because smelters are buying, these may hold value better than other items ? Just some thoughts.

gary

 

What do you mean by silver quarters? The ones produced before 1975?

 

Quarters with 90% silver composition-- before 1965.

Coinflation.com

An example of being out of stock would be Provident's current inventory of silver quarters, they have been out of Washington silver quarters for some time, save maybe for the $1000/$500 mixed bags.

Of course there are collector version 90% silver quarters still being produced in silver mint/proof sets too.

 

Ahh 1965, sorry about that, got the wrong date... =)


oh BTW, watched "The Hunt for the double eagle" last night. Very interesting background on the 1933 Eagles...

Isn't it funny how they went through ALL THAT TROUBLE for some gold coins, yet in early 2000, the gov't lost $2.3 trillion dollars and there's no investigation. LOL.....

 

I'll have to look for that documentary. I haven't seen it myself.

 

I did a thesis bout NASA when I was going for my Bachelor's Degree.
Actually NASA is Great all around it's just that the technology and advancements they have made have gone to the USA as a whole and not as a business structure. Did you know for every $1 that has been put into NASA the USA has made $12 back? which makes me angry cause the dumb politicians don't personally receive a benefit from NASA and think NASA is a big waste of money compared to the "pork" spending they want... In my opinion I would rather put $1 trillion into NASA then into a stimulus or additional unemployment benefits that are basically going to people that COULD get a job but choose the free cash to sit.

How the USA has fallen from the world's super power to a nation of handouts instead of handups.

 

12:1 ratio is pretty good. I had though that NASA was horrible with accounting? Especially when they use old parts that don't exist anymore so they have to pay a lot for them? I saw news report how sometimes they had to even get parts of ebay??

I just wish that the NASA program had private sector competitors. Kinda like the USPS vs UPS/FedEX.

If you look at the DoD and Universities starting the internet back in the 70's, look at what Microsoft/Cisco/HP/Dell/Google of the world have done for the internet...

I completely agree about the $1 trillion+ handouts. If that money diverted to NASA, it would offer NASA so many more resources rather than deadbeats.

 

my opinion is simply that there should have been an initial investment into creating NASA and then the technology advancements they made would be there's and they could and would sell them to other companies. The profit that they would make would go back into making more technology advancements and paying back the start up money. Of course at a 12:1 ratio I would think eventually recycling the money would bring the income to NASA to trillions of dollars and would be an easy way to pay for the national budget without actually having to borrow from China or other countries...just my opinion though... Look at all the companies and people that have become extremely rich from NASA without them actually having to do 1/10 of the work that NASA did for them to make their fortunes.

so why are we stopping NASA? I guess it's broke or perceived to be broken and as politicians think "if it's not broken then fix it"

 

Gold: 1385.80
Silver: 29.35
Platinum: 1711.00
Palladium: 741.00
Bid, at close.

5 days to Christmas!! Woo Hoo! Shop 'til you drop!!

Lucy

 

Today my PM holdings were up less then 1/2 %, and I received a Christmas gift on the stock holdings which were up over 5%, so it appears to me that the money rotation has about peaked in PM and equities are going to be the better place for money for a while ( outside of extreme events ). I started closing some PM options today and will be out soon, until the market for PM reflects a different financial situation than current which seems to be evolving well. I am maintaining my copper exposure and am thinking about other " soft"commodities.

I know many will disagree with this, so I wish you luck, and be alert.

Jim