What if silver plummeted down to $15oz, would you be ready?

Ready and Waiting

I'm prepared because instead of buying at $45+ I have been patiently sitting on cash waiting to buy back in,which I will do at $20.00 - $25.00.Those who have been in the game the last 6-12 months are not interested in Silver for the same reasons the Cointalk crowd are interested.These people I speak about are the greedy Wall Street Gang who have been playing the Pump and Dump game.Silver is just another game piece for these sharks to play their game.I see silver going back down to the $20-$25 range then going up again and staying there.It will stay high,not because of hype but because the U.S. dollar will have become worthless.

 

Log in or Sign up to hide this ad.

Ok ... maybe that home equity statement was a bit over enthusiastic ... i admit it!
(my house is actually paid off)

 

That's an excellent position to be in. No matter the temptation to use your equity as a bank, nothing beats knowing that you have no monthly bills to deal with, that alone is priceless.

I know some people will mortgage their home in hopes of making a killing, but hey, now you are back to monthly payments again, exactly what banks want!

I went years without a car payment and it's a great place to be in. Can't wait to see what that is like for a home.....it will take quite some time for me though, especially in this area!

 

Lol, I wish mine was paid off. I could but would have to liquidate some positions I would rather not.

At $15 silver I would love to start buying some large lots of old silver coins again. I know I sound like a bear, but I truly love silver coins of all ages, I own quite a bit, but coin collecting is an addiction, there is never "enough". I would love right now to get a hold of about a thousand Mexican silver coins from the mid 1800 to the early thirties. for some reason I am really getting into those coins. If silver went back down to $15 I would feel much better about buying such a lot.

 

well at least it sounds like your net worth is hefty. kudos to you

 

I would keep the silver I have and start buying silver mint sets, silver proof sets, BU silver nickels, and all the stuff I missed the first time around.

I have a question though, what is happening? Is is a temporary dip, a temporary panic, or is someone manipulating the market?

Juan

 

I'd wait for the bottom to establish itself. If silver drops to $15 quickly, the sheep are going to be running from it (as they appear to be doing now), so demand will be greatly reduced.

 

The only way Silver at $15 troy would make me broke would be because I would be spending the majority of my income on silver!

 

Japan's debt might be high, but most of that debt is held by the Japanese themselves. Also, Japan holds hundreds of billions of dollars worth of US Treasuries and other foreign debt instruments. The multiple disasters hurt, no doubt about it, but the Japanese are used to dealing with adversity. And despite Japan's debt being so high, it still has the strongest currency in the world.

 

Hi Medoraman, I feel $15 is low because I feel that the factors driving it higher are still in play and will be for some time. I know there are people that disagree with the increasing use of silver as an industrial commodity but I am reading industry analysts that say this is the case. Also it's great that UBL was killed but this is a dangerous world and there are still a lot of hot spots and growing potential for problems especially around Israel. And then there are the sovereign debt issues that have become back page news as of late but are certain to reclaim center stage. I also believe that inflation will continue to be an issue around the globe.

It's hard to take all of these factors plus others that could be mentioned and develop a target price for silver but, given my personal view of the world, my gut tells me that low to mid-20's is an easily supportable level. I would not automatically pull the trigger at $15/oz, but if the underlying environment had not substantially changed, I would be loading up at that level.

Bluesboy65

 

ought yay i would buy so much silver so that when it goes back up i will sell itand buy a coin i have wanted for a while

 

If we're speculating about what someone would do if the price went down, I would LOVE to see silver back at $15/oz!! I would be buying all I could get my hands on.
+1 Elapid, I would be broke as well!

 

I would scrape together money to buy a few thousand worth at that price, for sure!

 

Recent correction was at least partially because margins were raised in the paper silver market, so some people had to sell off their positions.

Anyway I'm in the process of buying a house right now so if it dropped to $15 I wouldn't have a lot of free cash to buy with, but would seriously want to! I have been thinking about taking the small 401k from my first job and rolling it into a precious metals IRA or cashing it out (ouch penalty/taxes) and buying gold/silver.

 

That is why they call it "rebalancing your portfolio".

 

Ok, that is a fair point. If the current economy stays the same, and the don't fix the dollar, not bad thoughts. I was just saying what if they actually cut spending, and the economy picks up? I could see $15 silver again. It's not different this time, change in circumstances will change markets. We just heard of the massive plays by Soros and Slim, those were just two players in this market recently. They are what I describe as "hot money", moving from market to market trying to get a play. If the hot money starts to ignore PM, and the general public starts to regain confidence, those two massive pillars of PM support will be gone. Under that scenario, (historically the most common of all), I could see $15 quite easily for silver.

This quick movement up and down is attracting, (and being caused by), a lot of non-historical market participants in my view. A slow steady slide in silver will not only push hot money out of PM, but also the general public because they will see nothing but losses for months on any PM purchase. That is the scenario under which I see $15 silver being easily achievable.

Just a thought, not a prediction.

 

I agree completely. Man, this is a speculative play, don't pay penalties to put retirement money at risk!

Seriously, there are people who did exactly what you did in the 80's. Their reasoning was, "silver used to be $50, so silver at $30, ($25, $20, $15, $10), is a bargain. Always remember "the market can stay irrational much longer than you can remain liquid". That statement means that you can be 100% RIGHT, completely and utterly right, and lose you rear because of timing. People were destroyed by correctly calling the dotcom bust, but 6 months too early.

PM is a risky investment, as the recent movement has shown. It should be invested in with money you are willing to lose, or at least money you are willing to not show any return on for 20 years if need be.

 

Excellent advice/quote.

 

Yes. The silver and gold bull market will only last until the circumstances that caused it in the first place are replaced by a new set of conditions. And people shouldn't rely on inflation to bail them out. We had inflation every year from 1980 to 2000 and silver and gold went noplace.