Silver Will Not Top $20 Again Homies

Silver will break $20 before sinks below $15. I'd go 3:1 on it.

 

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I read the entire thread took me a while one hour and 15 minutes..... . .... read and reread.... lot of interesting points all around......... What I took away from this was......... I not intelligent enough to comment or experienced enough to ask any questions.. There is allot of smart people on here and their views and have taken some that knowledge and will use it now. I have got a ton more to learn from you guys....... thank u much............. I am getting ready for retirement and enjoyed the thread..........

 

Nonsense. You have plenty to contribute sir. Many times the best contribution is a well asked question that starts a good dialogue. Especially in the pm section, I never consider anyone "unqualified" to add their viewpoint, since this section is a quasi-economic discussion group. All viewpoints are valid.

 

If you’re saying all your eggs are in one basket, hope you can afford to weather some potential huge swings in value (up & down) of that basket.

 

We broke $19 again! What you tink o dat, homeslice?
(meant for Eminem)
http://www.kitco.com/charts/livesilver.html

 

Dawg I think my prediction will still hold tight, prices will increase again slightly tomorrow due to weak us data today and then prices will decrease to the 18.50 range


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Who knows? I have no idea what silver will do in the next couple of weeks. You could be right. Or maybe not...dawrg.

 

So, it's a little below $19. So what Eminem....

 

Less then a dollar away from $20.

This could be a photo-finish.

 

$19.10 and climbing. Wat you tink o dat homeslice? (meant for Eminem)

 

$19.11 now!

 

Inflation is not dependent on the money supply. It is dependent on the velocity of money. How often a dollar is turned over in commerce. Most of the huge increase in the money supply is in the hands of the giant corporations and the billionaires who own them. They don't have to spend much of their money so they invest it. Give the average person an increase in income and they pay bills with it or buy something new. All of that money is currently in the stock market. It will only take a little shaking of the house of cards and it will crash like never before. Silver will go down to new lows this summer but come Sept. or Oct. it will start to rise. It is inevitable. The mines are losing money hand over fist and if they can't make a profit there will be no new silver coming on the market and we will have a short term shortage. When this happens the price rises.

 

Have you kept up with what is happening in the mining industry? They are losing money at a huge rate. If it wasn't for the other metals that are mined with the silver, there wouldn't be any silver mines. The true cost of production is more than the price. If price falls much farther there will be less silver produced until price makes it worthwhile. How long do you think it takes to dig another hole? How much do you think startup costs are? The new deposits are less accessible than the old ones and the old ones are starting to produce less. So yes there is no danger of running out of silver. Just a danger of being able to extract it from the ground and make any profit at current prices.

 

I guess I should invest in a silver mine then. Since prices can't possibly stay below the cost of mining for an extended period of time, seems to me that silver is the safest investment in the world.

 

You're thinking about investing in a company because they are losing money?

 

And if a frog had wings it wouldn't bump its butt when it walked now would it. It is totally useless to speculate on what would be "IF". The fact is they are just not going to stop mining lead and copper any time soon, so Silver will continue to be a by-product.

 

So where did you read "what is happening in the mining industry"? From a pm website? Gee, they aren't biased at all, right? Silver is mainly a byproduct metal, mined "accidentally" when they are mining copper and tin, and lesser amounts gold or other metals. So, this is the largest source of silver, and as long as those other metals continue to be mined the silver will be mined whether anyone likes it or not. Primary silver mines MIGHT be losing money at these prices on a fully costed basis, but I bet you its cheaper to keep them running than close the doors, and most likely will be unless silver drops to $10 for a protracted period. Unlike many PM investors, miners LIKE those evil "paper markets" as it allows them to hedge future production. So even a short term drop to $10 will not affect them since most likely they hedged their production in some way. If it weren't for those "evil paper markets" many more mines would have folded in 2008-2009, and far less new mines would ever open up.

 

We're closing on $19.20. Something must have happened to make it go up today.

I really don't worry about the price of silver lately. I don't have to sell much, but in about 4 years I want the price up, because that's when I'll sell it to live off of it for a while.

 

Amen.