Silver Below $14

That is just not true. That's why the central bank took nearly two hundred years to get their grips on the economy in this country. They tried it in the early years, again in the civil war years, and finally sealed the deal right before we were plunged into a world war.

Fast money is the most evil thing there is. Volatility is great for Wall Street, horrific for main street. That's what most people don't understand. They want volatility, that's when they make money. And what better way to add volatility than to create a fiat currency.

It's only going to get worse now that supercomputers have faster algorithms and paper currency is more scarce. Why not bring the leverage ratio up to 100:1? That should stimulate the economy!

That's why so many are turning to bullion. Too bad everything you have spouted has nothing to do with the price of silver/gold. It used to, but now it's just another derivative for Wall Street to mess with.

 

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Its dropping to $10 oz why you ask, because I just bought 300 oz

 

It's at around $14 today......try and get it for that.

 

Lol

 

Well if you are worried about dealer premiun, you can always buy a silver exchange-traded fund from one of several families of ETFs. Trades like a stock and follows the metal price.

 

Ever notice how billionaires surround themselves with heavily armed private security? Guess they don't comprehend how much better it is to rely on the public police departments to keep the kooks and crooks off of them.....right?

There is a reason they hire their own security.....because it answers to them and will be there when they need it.....like when some lunatic tries to assault them or kidnap them. If they had to depend on the regular cops they'd all be dead or awaiting ransom. So, no, I'm afraid your example is an epic fail.

 

Utter Keynesian nonsense. Our government has been spending like a drunken, freakin' NAVY ever since the crash of '08 and the economy remains mired in a zombie-like state, unable to generate good paying jobs for individuals and robust growth for businesses. All we have is endless QE from the Fed that pumped up another speculative boom.......this time with the banking class that does its gambling on Wall Street with all the fake, low interest "money" generated by the central bankers.

When the current stock market fever breaks it'll make the panic of '08 look minuscule compared to the financial catastrophe that is baked into the phony current economy. When those birds come home to roost, the U.S. Dollar will collapse spectacularly and the adherents of the Austrian school of economics will be the ones riding high and eating well while the idiot Keynesians starve to death. Just my opinion.

 

ConfederateHalf I HAVE HEARD the above more than on here... I just keep wondering when do I pull out my 401k before it tanks............

 

You don't, markets will continue to crash as they always have. They will also recover as always. I think the stock market crashed a dozen or more times since the 1900's. What did all these crashes have in common???? 100% recovery, 100% of the time. NO EXCEPTIONS.

Trying to time these things is a fools game, many have tried, few have succeeded. It is best to just ride out the rough spots and collect the 9% average return.

The fantasy that this time will be different is also something that has been said for every crash, but it is just that, a fantasy, and everyone who ever said that was wrong 100% of the time NO EXCEPTIONS.

 

your spot on MIKEM, but I was thinking about moving it to a money market fund, Fixed Fund or something like that with less risk than Vanguard Institutional Index Fund Institutional plus shares since I have already retired..

 

That depends on your age. The younger you are, the more you should have in the market. You are better positioned to ride out the ups and downs, and acquire more shares when the market is down. However, I don't think it's ever a bad idea to have some cash on the sidelines. One can never tell when opportunity will knock.

 

The return for risk is yield. Money market funds are not to make money, but to serve as a stop loss. This is by explicit design. The economy needs funds for use in economic growth, not parked money. Therefore fixed income is minuscule to nonexistent, and only equities show growth.

 

Yeah, who wants to rely on someone trying to serve the public good anyway, right? Because billionaires are that way because their "special people", right? I don't know about you, but I wouldn't give a darn if, for just one example, Mark Cuban needed help. I don't see him as any kind of benevolent creature.

 

Ah dear Sean, the ultimate John Birch Society Kool-Aid drinker....

Frankly, I'll take Warren Buffet agreeing with me over Malcolm Forbes' idiot son any day. Truly anyway, if you were a casting agent at Central Casting in LA, and you had the entire nation in your headshot book, and some movie casting director called up and said, "We need a really creepy child molester-looking type of guy", tell me Steve Forbes wouldn't be in the top five you'd think of, right?

I do not ignore that silver has intrinsic value, I deny it outright. The concept of inherent value is what is nonsense. All elements are finite, and all values of them are subjective and whimsical. One thing makes precious metals rise in price - hype, aka marketing.

Anyway, there are only a few excuses for being an Austrian Schooler in the face of near unanimous professional disdain for it among mainstream economists.

1) German is your primary language you think in, and given that "debt", "fault" and "shame" all translate to the same German word, and you don't have the sense that the deity gave a turnip to treat them as mere homonyms rather than synonyms. (This is why "fine" can be a coin's condition, a monetary legal penalty, and the last word your spouse uses while arguing. Same word, different concepts.)

2) You get a perverse glee from being intentionally provocative against overwhelming counter evidence like just another herbalist or homeopath trying to convince some poor cancer patient to turn away from "Big Pharma". Medicine has enough quacks, we don't need them in economics. News flash: being down at the skinny end of the bell curve doesn't make one interesting to talk with at cocktail parties, it makes one a bore, and a boor.

3) You may be a SAOSC. Are you a SAOSC? I ask because Austrian School is economics of the SAOSC, by the SAOSC, and for the SAOSC. [SAOSC = smelly angry old self-entitled crank]

4) You could be an Internet Gullibility Syndrome sufferer. The Von Mises Institute counts on them, and the death of truth-invested gatekeeing that the publishing function used to provide. Now, any crackpot ideology uses the same fonts and bytes as the truth.

 

Price is arbitrary. Whether there's a perfect explanation for deriving price or it's a monkey pulling numbers from a hat makes no difference to me. I just play the game the best I can.

 

Debates can go on forever about silver and gold, and likely will. Whether you like or don't like precious metals -- either as a matter of your investment style or you think that prices will go up or down from here -- one of the most hazardous-to-your portfolio's health moves is a lack of diversification. Simply put, too many eggs in one basket.

Remember all the ads offering to convert your IRA to gold a few years back when gold was rock 'n rolling? Think of people who did that at the height of prices. Their losses percentage wise were unfathomable.

No one should put all of their money into one stock or one bond. Same thing with silver and gold.

 

that's Exactly right Kurt.. I am 62 in January and retired from the railroad industry, well Warren Buffets Railroad now, one man owns his own railroad.. but that why I want to move the 401k to serve as a stop... when the big one hits again or before the Election in 2016.. I don't see it coming as of yet but everyone outside this Forum and on here says it is.............. when the Market reset about two months ago or so I got nervous and put it in a Money Market then yank it back out and it rode back upward...waiting and watching and reading until the boom......

 

and just bought some more of that EVIL SILVER your talkin bout......

 

Sounds like your idea is kind of sound, depending on whether your health is toward the "never felt better" end or the "I'm lucky to still be here" end. My uncle is 98 years old and is still "all in" on dividend paying equities, and writing covered call options to boost his yield. I myself fall into the "I'll be astonished to see 65" category, and I'm only two years your junior. By the way, the "big one" is just as likely to be a fastest ever doubling of the S&P as any collapse. There's a lot of untapped productive capacity out there being idled by ill-informed "green" handwringers.

You may have never encountered my type. I'm a guy who will overhear a baloney conversation between two people who are complete strangers to me, and I'll interrupt them and tell them they're full of it. It's my thing. Makes Amtrak travel fun.

Denizens of this forum may benefit from knowing they're not being singled out for atypical Bellman treatment.

 

With all the baloney conversations out there these days, you must stay quite busy.