when is the silver crash coming?

Discussion in 'Bullion Investing' started by AlexN2coins2004, Sep 4, 2009.

  1. TheNoost

    TheNoost huldufolk

    It was a serious question. Please don't.
     
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  3. TomCorona

    TomCorona New Member

    Sorry...you were getting too political though and I know that's not allowed..for me..
     
  4. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    It's too much typing to explain it here, but it's pretty easy to find if you google it. It's basically how the world worked before there was a central bank. It would actually be far easier to implement today with electronic banking.
     
  5. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    Nothing political was stated here. Nothing about political parties or political theory. It was just some discussion of economic thought and gold. But since this seems to bother you, this will end the thread for me.
     
  6. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD

    this posting was kinda a joke :D like the one I posted in the us coins forum about how to clean that "disgusting" "rust" ....toning... off a graded morgan

    btw I got that pic off a morgan listed on e-bay for $2,995.00 :D so I figured it was worth it to a point and used it for "shock value" in the posting :D

    But seriously I just wonder if silver is going to go back go to hopefully $13.73/oz so I can buy up 32oz per $500 order from apmex. Or is silver really going up then down just a bit then up alot more and down a little and simply just making a new bottom price. A price that it won't go below unless another market crash or some other catastrophe like back in the end of 2008 it did. Which I guess could happen if I and other people I know are actually right thinking the "crash" didn't happen like it should have with the market not going down far enough nor did it stay down long enough.
    (just some opinions crazy or not) :D
     
  7. TomCorona

    TomCorona New Member

    It doesnt't bother me cloud. I don't need to be shielded from people's words, though some apparently do. Silly not being able to discuss what interests you at the time though, isn't it? I think the best way to point out obsurdity is to be obsurb.
     
  8. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD

    I like unicorns and pixie dust and van jones :D
    hope I wasn't being political...since I think all 3 associated with drug hallucinations :D
     
  9. RedOakPresoBox

    RedOakPresoBox Junior Member

    Yeah they are backing their fiat currency with gold and silver. Actually they are also encouraging the 1.3 billion Chinese (I might be a little off there) to buy silver and gold as well.

    India also has a pent up demand for shiny things. Anyway, it's about 2.3 billion (almost typed bullion) and demand could grow quick.

    In a way, I wonder if this is a ploy to kick the US in the nuts. The reason I say this is we don't have the silver and I don't know how much gold we have. So, how would we be able to buy it up if China is running up the price. The Chinese are clever.

    That is why they laughed Timmy G off the stage when he was over there recently. :rolleyes:

     
  10. RedOakPresoBox

    RedOakPresoBox Junior Member

    All a conspiracy is, is two or more people with a plan. That is it.

     
  11. TomCorona

    TomCorona New Member

    True..but using the word conspiracy successfully groups thinking individuals into the more general "nutbag" group, thus making those in their bubbles feel better.
     
  12. TheNoost

    TheNoost huldufolk

    China is buying up silver and gold because America is realizing the outsourcing things isn't as good as they thought and we are going to bring back manufacturing jobs. This will result in China economy slipping. They know this. Shipping costs are going up, import tax, overseas manufacturer have less quality control as well as many fake products, prices of product go down here cause we can't afford, Etc. It really is cheaper to make things here. PM's are just going to act as a hedge for China during the transition. I truly hope this does not cross the line. Just heard it on the a financial channel from a hair products manufacturer ,moving shop back to Texas.
     
  13. skippy

    skippy Senior Member

    The silver spot price did go back down to the $10 - $11 /oz. range back in Oct. - Nov. last year after being $20 /oz. in March of last year. BUT physical silver bullion (non-90% coinage) was hard to get in Oct. - Nov. at $10-$11 without waiting a couple months for delivery or over paying on ebay. And even then I noticed many were not selling on ebay because they had bought at the higher prices. So what I'm getting at is that it can and has went down to reasonable obtainable levels. You just might have a hard time getting immediate delivery of physical silver.
     
  14. danisanub

    danisanub Finance Major

    Very interesting, I hope this really does happen. The economy could use it... Right now I'd rather have the outsourcing in Mexico than in China.

    If you have a link about the hair products moving to Texas, I'd like to see it!
     
  15. Boss

    Boss Coin Hoarder

    The nazi's specifically used psychologist/pyschiatrist to define those who believed in conspiracy theories as mentally unstable. This was in interesting link: http://http://www.wral.com/golo/blogpost/5925355/

    I don't know enough to predict China's behavior except that they are clearly buying assests (Gold mines in South America, gold/sivler) and dumping dollars, which has not hurt the dollar much it seems. All the variables of the economics gives me a headache so someone can explain this better I'm sure
     
  16. TheNoost

    TheNoost huldufolk

    DOn't remember the name of the co. May have started with the letter A. It is famous for hair straighteners (irons) and blow dryers. The company owner had a really foreign sounding name. Sorry I can't be of more help.
     
  17. RedOakPresoBox

    RedOakPresoBox Junior Member

    Well I get that newsletter from Investment Rarities. It comes about twice or three times a month. It is very, very informative. Their over spot price is kind of high but they have done billions in business over the years and have a wide variety of stuff for sale.

    Anyway, Ted Butler seems to think the new head of the CFTC Gary Gensler will be running a tighter ship and hopefully he will butt some heads on the silver short contracts. (in relation to wheat futures that some govt. official was up in arms about) He compared the two and it is not apples to apples. He thinks the cap should be 1500 contracts versus 6500. And on top of that I think Morgan Stanley actually got busted because they didn't actually have the silver in house as they said. To which they responded "Well, everyone does that." :rolleyes:

    You guys probably are aware of all of this and the two or three large banks having all the short positions in silver. Well, he thinks that silver can blow by it's all time high of around $50 an oz., or at least hit that for sure again. Inflation adjusted it is supposed to be $137 and gold is somewhere around $2300 inflation adjusted IIRC.

    The interesting thing from reading his columns in that newsletter over the last year or so he says that there used to be 60 billion ounces of silver above ground back in the 60's. But with heavy industrial use we are now down to 1 billion ounces above ground world wide and with gold we have about 5 billion ounces above ground world wide.

    So, in my estimation that is some realy wide ground to make up even with the 62 to 1 ratio in place as is (historically it should be 15 to 1). But he has been doing this for 20 some odd years now so he has been doing his homework.

    Sorry if you guys read him and knew about this already. He just frames a compelling argument in the pro silver column and I guess I wanted to share for those that might not know. The guy is wise, but I am not sure I can afford his newsletter which is about $300 a year. Has anyone bought it yet?

    I just wish I had about 50k sitting around liquid to scoop a bunch up.

    PS I have been speaking with a guy from Investment Rarities once in awhile and he told me their target for the end of the year price for silver is $25 an ounce. We have been pretty active this week. I think I saw on Bloomberg for the week it was up $1.47 an ounce.

    Anyway, if it wasn't for Ron Paul, Peter Schiff, Edward G. Griffin, Tom Woods, Lew Rockwell, the Mises guys and a host of others, I wouldn't be here talking about this with you all. I'm glad I found this place! :D

     
  18. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    "<<Biography
    After receiving a BS and an MBA from the Wharton School of the University of Pennsylvania, Gary Gensler spent 18 years at Goldman Sachs, making partner when he was 30, becoming head of the company’s fixed income and currency trading operations in Tokyo by the mid-’90s, and eventually the company’s co-head of finance.

    Subsequent to his time at the Treasury he acted as a Senior Adviser to Senator Paul Sarbanes, one of the authors of legislation that eventually became the Sarbanes-Oxley Act, designed to bring greater oversight to the accounting industry and reform of corporate governance.

    As the Treasury Department’s undersecretary for domestic finance in the last two years of the Clinton administration, Gensler found himself in the position of overseeing policies in the areas of U.S. financial markets, debt management, financial services, and community development. Gensler advocated the passage of the Commodity Futures Modernization Act of 2000, which exempted credit default swaps and other derivatives from regulation. The Senate is expected to examine his views on derivatives regulation during the Senate confirmation hearings.

    In March 2009, Senator Bernie Sanders (I-VT) attempted to block his nomination to head the Commodity Futures Trading Commission. A statement from Sanders’ office said that Gensler “had worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of AIG and has resulted in the largest taxpayer bailout in US history.” He also accused Gensler of working to deregulate electronic energy trading, which led to the downfall of Enron, and supporting the Gramm-Leach-Bliley Act, which allowed American banks to become “too big to fail.”

    Gensler is the co-author of a book (with Greg Baer), The Great Mutual Fund Trap. The thrust of the book is that active trading and investing is an inefficient strategy for individual investors, and that individuals should stick with index and exchange traded funds.>>"

    Based on his background, I think Ted Butler's faith in Gensler to do the right thing for silver investors may be unfounded. Hopefully I am wrong and he is right because it would be beneficial to us all.
     
  19. jello

    jello Not Expert★NormL®

    With no real new mine found silver my hold at 10.00-15.00 or more for awhile.
    plus China is buying every type of metal that has any type of value.
     
  20. RedOakPresoBox

    RedOakPresoBox Junior Member

    Wow. Seems like everybody has been with GS. Let's hope. Maybe Butler didn't know that Gensler was at GS? But yeah GS seems to have a straglehold on our monetary system.

     
  21. silvermonger

    silvermonger Member

    Nothing magical or political about Chinas gold or silver buying. Just common sense.
    China is buying bullion for the same reason many other countries and individuals are. China has too many dollars and the price of a dollar drops by the minute. Why would they want to watch their trillions of dollars lose value? Convert to gold.
     
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