Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. abuckmaster147

    abuckmaster147 Well-Known Member

    Oh wait 1600-42
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. Clawcoins

    Clawcoins Well-Known Member

    I wonder what coinage he had with him before his ships burnt down like silver today ...
    [​IMG]
     
  4. Santinidollar

    Santinidollar Supporter! Supporter

    Crummy Treasury auction today. Interest rates up a tad. That’s no friend of PMs.
     
  5. abuckmaster147

    abuckmaster147 Well-Known Member

    It is if you want to buy!
     
    Danjohnson and Santinidollar like this.
  6. Clawcoins

    Clawcoins Well-Known Member

    I was thinking of buying all of the silver mines.
    secretly store tons of silver
    then stop production without warning.
    Then watch silver spike, sell the stored up silver and repeat.

    Alas, I only have $32 in my wallet to initiate this project.
     
  7. Santinidollar

    Santinidollar Supporter! Supporter

    True.
     
  8. abuckmaster147

    abuckmaster147 Well-Known Member

    And we gained a penny at close. Oh sorry a cent!!
     
    yakpoo and Kentucky like this.
  9. abuckmaster147

    abuckmaster147 Well-Known Member

    and now the euro pee in markets are raising us up for NY to fall tomorrow.
     
  10. abuckmaster147

    abuckmaster147 Well-Known Member

    well that did not happen, We already lost a buck an ounce in last week Now I am shooting for $15.99 to buy another ten.
     
  11. Clawcoins

    Clawcoins Well-Known Member

    TOO LATE !!
    [​IMG]
     
  12. sakata

    sakata Devil's Advocate

    DOW down 1033 points today. Again! Why aren't PMs up more?
     
  13. Gilbert

    Gilbert Part time collector Supporter

    A guess here: people are selling PMs to make margin calls on leveraged stocks. Same thing happened in 2009. But after the selling stopped, PMs rebounded. What happens this time I know not.
     
    abuckmaster147 likes this.
  14. Clawcoins

    Clawcoins Well-Known Member

    ppl are also selling their Mutual Funds which take 1-3 days to clear from the other day and making their decision to sell.

    2007-09 was a different animal. market fell from around 14k to 6.5k ?

    I do know that junk car loans are going bad and that started last year. I started pulling my money out of junk loans which are high return but high risk last year. More and more of those are defaulting now. article from last year ==> https://www.bloomberg.com/news/arti...-boom-same-old-sins-auto-defaults-are-soaring
     
    Last edited: Feb 8, 2018
  15. sakata

    sakata Devil's Advocate

    I don't remember exactly but I thought it dropped a little more than half so those figure are probably correct. It would not surprise me to see a large drop this time but I don't expect it to be 50%. Maybe 30%, which would take it back down below 19k.
     
  16. Santinidollar

    Santinidollar Supporter! Supporter

    Nothing is up — bonds, stocks or PMs. There’s wholesale liquidation going on to cover leveraged positions that have totally flown South. Others are selling profitable positions and squirreling away cash to fight another day.
     
    Gilbert likes this.
  17. Gilbert

    Gilbert Part time collector Supporter

    Indeed. Interesting to say the least.
     
  18. Clawcoins

    Clawcoins Well-Known Member

    Luckily I don't have to shovel the snow to see the price of silver.
    [​IMG]
     
  19. abuckmaster147

    abuckmaster147 Well-Known Member

    well should I? or are any of you taking advantage of providence spot sale on rounds this weekend.
     
  20. sakata

    sakata Devil's Advocate

    I buy when I have spare cash, not when there is a spare sale. Spot is not so important to me because I have no plans to ever sell unless spot is much higher and in that case I have enough that a few cents here and there will not affect me.
     
  21. Clawcoins

    Clawcoins Well-Known Member

Draft saved Draft deleted

Share This Page