Buying Opportunity Coming Soon.

Like it or not, the investment banks set up the toxic assets that caused the bailouts.
Whether or not they paid it back or how they did what ever, it was still a bailout that many of them created.

At this point, the US taxpayer is still on the hook for a lot of this stuff, including QE, and almost all of that money goes to those same institutions. Until all of that is somehow absorbed, who do you think is on the hook for that?

 

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If you are counting qe, maybe, but I think that is unfair. As a transaction, the taxpayers will make tens or hundreds of billions on the financial bailouts, and lose tens of billions on auto bailouts. It's a story the press is not very anxious to report. Not a sensationalistic enough headline I suppose.

 

If you want to rail about the greed and evil in the investment community, go for it, I don't like those folks either, but if you are trying to claim some moral high ground for only buying PM, well as Doug would say "That dog don't hunt" Just take a look at the mining practices in Africa.... And don't even get me started about the shady characters in the PM industry. The bottom line is, where ever there is money, Greed and Evil will be close by. So.......the moral argument for buying PM, well that just doesn't pass the smell test.

 

If you're trying to say that I'm supportive of the platinum miners or back the scheisters that tout the to the moon or banksters, you'd be sadly mistaken. My reasoning for not putting money in Wall St stands, I will not support their bad behavior with anything directly.

If you think for a moment that QE or the bailouts somehow taught them a lesson, your correct, except it's a very bad lesson. They're basically telling them that it's ok to gamble and fail with trillions as the fed will bail them out with US taxpayer money. Why would they change anything if that's what was taught?

 

Except, unfortunately, much of that money goes into the business down the street that employs your neighbor, your father, or maybe even you. Some even goes, shockingly, into miners, without which there would be no mining of precious metals. Almost everything you buy has this "taint" of getting money from these evil bankers.

Kind of hard to throw stones when most of your world is covered in glass.

 

I can live with not giving it to them directly...it's a start.

 

Here's an idea. Why not let them die and allow the ones who aren't retarded bid on their assets and put them to better use? Or is that too Capitalistic for this zombie nation?

 

Probably not crony enough.

 

No doubt. Maybe we should content ourselves with becoming an isolationist/ protectionist spinster. Because that's the only way this freak show is going to compete with Asia.

 

It's nearly impossible to buy at the lowest of lows and to sell at the highest of highs. The goal is to buy in the the swings isn't it?

 

I sold some silver in late 1979 or early 1980 to a traveling silver buyer in a Holiday Inn in Charleston. Silver was declining from it's high of $50 so this buyer was buying the dip wasn't he? And it just kept on dipping. //// I buy silver just because I like it. If it becomes a ten-bagger, great. If not I still like it.

 

The key for many is to buy when you have money , with no needs or debts that are costing you, And sell when you get tired of storing, or worrying about loss, either value or by burglary.

 

So I just blew the dust off of my crystal ball, and silver is DEFINITELY going up in the near future. Oh wait.... crap, I was holding it upside down. Nope, silver is definitely going down. These things can be a little tricky to read...

 

It really gets tricky digging a hole with the plans upside down.

 

Did you say that silver crashed down to ten dollas an ounce in 2008? I wonder what month that was? I'm just sayin', I must have missed it.

 

Silver is half price right now compared to where it was before. Get some before it is too late.

 

It is also double the price where it was before.......

 

Yeah, still has a way lower to fall before it will interest me. When ASE's start selling regularly for $21 on ebay delivered, that's when I will consider stocking up. It's getting close, but no cigar.

 

So are your beloved stocks, you got a point?

 

October 27, 2008 NY silver close $9.37
December 4, 2008 NY silver close $9.47