Something wrong with bullion

Whoa, your reading way too much into it. I was just being glib as I personally hope it skyrockets because I'm ready for a reversal is all. Why would I block you? Why would I block anyone? I like and respect differing opinions and can hold my own. This is still America after all isn't it

 

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Exactly, and a lot of folks feel the same way. I have been trying to make this point for a while. This will keep a lid on the Bullion market. Even if we are in for a rough road short term (and I think we are), I just don't see bullion getting driven to crazy levels. The scars are just too fresh.

 

I wasn't buying silver at $11 so forget it now. Give me $8 -- that might entice me.

 

Back to coin talk. I just finished my Jefferson set. The only slabbed coin is the 50-D. that is pcgs 64 full steps. All the rest are in my opinion 63-65 wiyth the majority full step and proof.

 

They do make one pretty set, don't they? The change in the master hub over the years is so obvious it almost bites you. Congrats.

 

Although the current runup may be due to investor parking of money, I think you guys are right: There won't be retail investors buying with both hands and chasing rising prices as last time around. A telling clue may be what gold prices do next time the US stock market has a buying spree.

 

Edited

 

I think the best explanation I read was the rise of popularity of negative interest rates. This turns everything we knew upside down. The Swiss government is considering penalties for paying one's taxes too early, and companies are encouraging customers to take their time paying bills. Bizarroland.

The Economist recently had a podcast on this.

 

CNBC is reporting that US banks have been told to prepare for a "stress test" on the hypothetical scenario of negative interest rates here. The report emphasizes that the test is based on a hypothetical scenario.

 

The ultimate banker's dream - we charge you when you give us money, and we charge you when we give you money. What could be better for banks, unless they also became cable companies and could force us to pay for channels we never watch?

 

Thank you Kurt ! It took over a year and a lot of sore eyes to complete. I love the proofs. Wish all coins could be struck this pretty.

 

I think it is getting to a good point to do a straddle option on GDX again ( you win if it goes up or down, but lose if it stays close to the strike value) ...as it has climbed , but almost as good a chance to now fall as it has to rise, IMO. Probably out to March 11.

 

I wouldn't worry. Saw a piece the other day that said that the U.S. banking industry has $1.7 trillion in equity capital vs. $1 trillion 10 years ago. That extra $700 BB can absorb a 100% wipeout of high-yield energy debt PLUS a 50% haircut on emerging market stuff.

U.S. banks are all fortress balance sheets.

 

I'll gladly take a DJIA smackdown if the situation on energy stays like this - good for consumers, but bad for energy producers. If I were somewhere warm with energy workers, I might not feel that way, but where I live it's cold and a new energy pipeline is moving ahead to connect Marcellus shale gas to east coast ports. 'Tsall good locally at last. Now, about getting consumers an advantage with banks...

I think Jim has nailed this. The economic fundamentals don't support anything but a temporary metals bump here, unless this negative interest rate thing gets stronger.

 

Negative interest rates are about the only ammunition left in the Feds tool box.

 

Hey spenser, are you keeping it current? I do mine. The tough part was/is finding truly sweet business strikes in the 2005-10 range, especially 2009. Walk around any show with dealers with book stock. Most of the 2005-10 coins are satins from mint sets or they aren't truly superb coins, by and large.

 

Janet Yellen said two things about negative interest rates in her congressional testimony today: 1. The Fed is not sure they would be legal to set and 2. Interest rates on treasuries could become negative through market conditions without any action by the Fed.

 

No, only up to 2012. I find some in change, but they aren't good enough for me. I've been looking on eBay, but I can't seem to find nice specimens and I don,t want to pay return shipping. I'm disabled and don't get out much. I too get my proofs from mint sets.

 

I occasionally run across a store with "virgin rolls" of P mintmarked nickels these recent years, but since I'm near Philly, the D's I see only while travelling.

 

In case anyone doesn't get that, whenever a Treasury bill or any bond without a coupon rate goes over par (100) in price, it's yield becomes negative -negative interest. The math gets a little different if there is a coupon rate, but negative yields could still happen, if the market price gets high enough.