Is anyone buying silver at $44.56

Of course I did. Vietnam was costing a fortune, the gubment was creating fiat money like it was air, and real lawful money, was becoming valuable in comparison. It's the reason that Nixon, 3 years later, could no longer afford to redeem gold for the dollars that foreign governments held. This was the second time the USA reneged on it's obligations relative to the confetti it was printing.

Remember you are comparing fiat money to lawful money.

After that, fiat was king, the USA ran up 98% of all the debt that it has created in the 40 years hence and we are on the quick road now to its collapse. When that happens, it will be a return to physical PMs as currency. It's been repeated many times in history. Current generations think it no longer applies to them but the stats say otherwise.

 

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No. What I am proving, is your measuring stick, the Federal Reserve note, isn't a reflection of what a week's worth of work is worth. This should be a concern to everyone. Compared to 2000, the actual earning power of households, has actually dropped.

 

That's a convenient bit of logic -- everyone else is wrong and all data and statistics are wrong except yours. Gold isn't fluctuating in value - everything else is. Food isn't more expensive now, it's dropped by 2/3 in price relative to gold. No evidence is required to believe this. It's just the religion of gold. I suppose other people belong to the religion of pork bellies or the religion of IPODs and they will have a different notion of value. But wait! Gold and silver haven't moved in lockstep, so the religion of silver will not agree with the religion of gold.

And somehow this line of thinking is supposed to make sense. Good luck with your fantasy.

 

Oil....

 

I remember watching that on the news, people lining up to redeem silver certificates back in '68. They got shafted in a way because they were receiving silver granules for their certificates, and the granules had no indication of their fineness, so dealers were buying them later at a big discount.

 

I stopping buying @ $32 because I thought it was too high but when it kept going up into the 40's I thought I had made a mistake. Well looks like I did the right thing and today I bought more bars @ $33 so I hope I'm right again. If it hits 45+ again I will sell some but not much.

 

The point Fatima is trying to make does make a lot of senses when you look at it from a slightly different angle. Today for the first time in history, every individual can trade his PM;s with another individual around the globe via the internet. It is believed that the vast majority of Silver is privately held in smaller amounts by private parties. I am not talking about paper stocks which may or not be worth anything when a delivery must be made, but the actual bullion coins. and frankly, nobody on the face of the planet right now trusts their government's currency or the stability of it. People may be willing to buy smaller, affordable amounts at a price well exceeding the "Fix", as we see just following eBay sales records.

This market may very well be underfunded enough to become "consumer" driven, especially when the economic growth does not meet expectations. IMHO

gary

 

People in Japan seem to trust their currency and its stability. Also, there is almost no demand for junk silver or investment-grade silver bullion in Japan, and the gold bullion dealers I have talked to are not getting a lot of demand for bullion from the average Japanese citizen.

 

You are correct, of course. There are a few folks here who make these overwhelming universal statements and attribute their own mindset to the rest of the world without even a tiny bit of proof. I like gold and silver a lot as investments, but it is a mistake to believe that everyone feels the same way.

 

+1

Most people I know, even the ones with a lot of cash, simply have zero desire to own PM. They own gold for jewelry, and have sterling silverware and the like. Almost everyone here is a coin collector or PM investor, so when we talk amongst ourselves we are talking with EVERYONE who has a desire to own PM. This is not the general public. The arguments made here that there are only XXX ounces per person on the planet are completely bogus. Most everyone on the planet has no desire whatsoever to own PM, and if they were given an ounce would sell it tomorrow for rice, a cow, etc. PM is a rich man's plaything, you cannot eat it, live in it, milk it, or plant it.

I simply do not see global humanity desiring to own PM now or in the future. Yes, its a thin market, so a little more demand can cause prices to spike, but that cuts both ways, and a little less demand can cause prices to tumble. Place your money and make your bets, and we may agree or disagree, but please everyone stop trying to make the argument assuming every person in the world, or in China, or wherever tomorrow will wake up desiring to own 15 ounces of silver. Its just silly.