Silver History

[EZLivin]

Sling. Check it out! No economics or history over there at all!

Jerry Springer

 

[djthemac]

Has the cost of procuring silver gone down? No

Has the dollar and the rest of financial world stabilized and solved their profligacy? No

I'd say silver is still the better bet, whatever the fiat price is.

 

[Just Jim]

Has the cost of procuring silver gone down? No

Has the dollar and the rest of financial world stabilized and solved their profligacy? No

I'd say silver is still the better bet, whatever the fiat price is.

So let me ask you since I honestly don't know. The euro is about to fail and the dollar has gone up against it. Will those who have euros go to silver or the dollar? If they go to the dollar what will the price of silver do?


jj

 

[Gunner3456]

Don't forget the old joke. The answer is "fluctuate."

 

[Just Jim]

point is if the euro fails will those countries trade in silver or other script like the dollar? If the dollar goes up what does the price of silver do? What did silver do today as the euro went below 130?

Live Gold, Silver, Platinum, Palladium Quote Spot Price Chart - Kitco

 

[djthemac]

So let me ask you since I honestly don't know. The euro is about to fail and the dollar has gone up against it. Will those who have euros go to silver or the dollar? If they go to the dollar what will the price of silver do?


jj

Euro capital is running to US treasury bills.... 3% for a 30 year T-Bill is asinine. Especially when you consider the PUBLISHED rate of inflation is 4% (the real number is closer to 11% if you use the original method of calculation.)

Its all brass on the titanic, yet the dollar is currently in first class above the water line.

As the dollar is "strengthened" by Euro capital, silver and gold may fall in dollar price. Their inherent net worth has not changed, and when the implosion finally occurs, i'd much rather have physical in my hand then fiat.

 

[Just Jim]

So how far down will it drop before you buy more?

 

[Just Jim]

One more question for all you silver bugs. Is there enough physical silver out there to cover the demand if scripts fail?

 

[Gunner3456]

point is if the euro fails will those countries trade in silver or other script like the dollar? If the dollar goes up what does the price of silver do? What did silver do today as the euro went below 130?

Live Gold, Silver, Platinum, Palladium Quote Spot Price Chart - Kitco

JJ, you worry too much about short term IMHO. The Euro isn't going to fail any time soon. Right now because of their structure they can't just print more money like we can, so they are having trouble paying their bills due to massive deficits. A couple of weeks ago our Fed bought about 2 tril worth of Euros with dollars to prop them up. Some countries won't accept Euros right now, especially ME countries in exchange for oil. The dollar is the international trading unit.

Watch the Euro countries (yes, Germany will cave) agree to a system like we have where they can create more Euros and pass them around.

No, we are not yet having massive inflation. Some commodities have been up and oil is higher this year, but real wealth like real estate is way down, offsetting it. The net worth of individuals has for the most part dropped massively. In true inflationary times, everything goes up because the dollar goes down.

Gold and silver are being artificially manipulated as usual. Very few individuals own any and a very few wealthy people and countries own most of it. They don't want the price to go up because they are buying.

I honestly believe we are a long way from a crash simply because we can print money, and so will Europe. China and India won't even say what they are doing but they are entering recession.

I can recall 25 cent gas and a new Datsun for $1,600. My Dad can recall a 5 cent loaf of bread, a 5 cent hot dog and a 5 cent Coke. He can recall working ten hours a day for $1. He can recall a $275 new Model T. This is all due to fiat money.

Who says we're near the end of it?

I'm more concerned about a rogue, runaway government than I am the economy. But then, polls today say that Republicans will take the House and Senate in November, and Art Laffer endorsed Gingrich today, saying he's the true fiscal conservative. (I'm not saying what to believe there, just parroting news.)

Get back to me in a couple of years, LOL. We'll know a lot more then.

 

[djthemac]

So how far down will it drop before you buy more?

I buy more every time I have some spare cash in the budget, I am trying to utilize dollar cost averaging, and therefore pay less attention to the current price.

 

[Gunner3456]

Euro capital is running to US treasury bills.... 3% for a 30 year T-Bill is asinine. Especially when you consider the PUBLISHED rate of inflation is 4% (the real number is closer to 11% if you use the original method of calculation.)

Its all brass on the titanic, yet the dollar is currently in first class above the water line.

As the dollar is "strengthened" by Euro capital, silver and gold may fall in dollar price. Their inherent net worth has not changed, and when the implosion finally occurs, i'd much rather have physical in my hand then fiat.

If you mean the 17 countries which have the Euro, they aren't running to T-bills. They don't have money to invest. They are trying to borrow and are having some failed auctions. Our fed bought about $2 tril in Euros with dollars last month to provide Europe with liquidity because they can spend the dollar internationally.

The dollar is strengthened because it is perceived as the strongest (right or wrong.) So many people talk about China but they are communist, supporting 1.3 billion people, and a tiny fraction of them are benefiting from the new capitalism. The rest are in abject poverty. India has almost as many people and the same problem - growing capitalism hiding more than a billion impoverished people.

Russia is strengthening because they've discovered oil. They may have the world's 2nd largest reserves behind the US. (Yes, we have more oil than all the rest of the world combined. Our environmentalists just won't let us get it or refine it. We also have a 100 year supply of natural gas.) So Russia is again going to become a factor.

We spend 45% of the worlds military budget - more than the next 15 countries combined and that includes China and Russia. Russia spends only 8% of what we do.

We have a lot of adjusting and correcting we can do if we get the right leaders.

 

[djthemac]

If you mean the 17 countries which have the Euro, they aren't running to T-bills. They don't have money to invest. They are trying to borrow and are having some failed auctions. Our fed bought about $2 tril in Euros with dollars last month to provide Europe with liquidity because they can spend the dollar internationally.

The dollar is strengthened because it is perceived as the strongest (right or wrong.) So many people talk about China but they are communist, supporting 1.3 billion people, and a tiny fraction of them are benefiting from the new capitalism. The rest are in abject poverty. India has almost as many people and the same problem - growing capitalism hiding more than a billion impoverished people.

Russia is strengthening because they've discovered oil. They may have the world's 2nd largest reserves behind the US. (Yes, we have more oil than all the rest of the world combined. Our environmentalists just won't let us get it or refine it. We also have a 100 year supply of natural gas.) So Russia is again going to become a factor.

We spend 45% of the worlds military budget - more than the next 15 countries combined and that includes China and Russia. Russia spends only 8% of what we do.

We have a lot of adjusting and correcting we can do if we get the right leaders.

I mean private wealth.

Guest Post: A Run On The Global Banking System - How Close Are We? | ZeroHedge

I firmly believe that we are rapidly approaching the end game. If RP is not elected in the next election, I believe our fate as a nation will be sealed. When 35 cents of every dollar borrowed goes to roll existing debt, you have a VERY short time before you go exponential.

 

[Burt Gummer]

One more question for all you silver bugs. Is there enough physical silver out there to cover the demand if scripts fail?

Of course not. Paper silver, ETFs, are a ponzi at least 300:1 ETFs will be as worthless as fiat dollars after they crash aka hyperinflation kicks in. If it were not for the paper ponzi the banksters use to bring down the price of PMs in favor of fiat dollars, silver would be many times the current price.

People that believe $80 is as high as silver can go are mislead. That was in 1980 and the dollar has greatly devalued since then. You also have about two billion more buyers now including 1.3 billion Chinese. When, not if, silver goes for its rocket ride a lot of people will be left scratching their right nad waiting in front of a bank with the 'holiday' sign out front.

 

[Gunner3456]

. When 35 cents of every dollar borrowed goes to roll existing debt, you have a VERY short time before you go exponential.

When you roll debt you don't create new debt. It's not a lot different from refinancing a home for the same amount, but in the case of a homeowner it would probably be for a lower interest rate. In any event he isn't increasing debt.

Our debt is increasing because of budget deficits, which we need to stop IMHO.

 

[Gunner3456]

Of course not. Paper silver, ETFs, are a ponzi at least 300:1 ETFs will be as worthless as fiat dollars after they crash aka hyperinflation kicks in. If it were not for the paper ponzi the banksters use to bring down the price of PMs in favor of fiat dollars, silver would be many times the current price.

People that believe $80 is as high as silver can go are mislead. That was in 1980 and the dollar has greatly devalued since then. You also have about two billion more buyers now including 1.3 billion Chinese. When, not if, silver goes for its rocket ride a lot of people will be left scratching their right nad waiting in front of a bank with the 'holiday' sign out front.

The highest silver has been is $50 in 1980 and you're right, that was a different dollar value. I buy PMs and think they will go up eventually.

 

[Just Jim]

Yep, Gunner you are right that I am not an optimist on our future. Gold and silver are for optimist.You are also right that bad governemt is driving all this and I am not optimistic in that area either.

I read alot of financial news and take in alot of what is happening in our nation. Obama is closeing coal fired electrical plants and oil refiineries that make our fuel. Since we must have energy to survive it's obviouse we won't. As the socialist nudge us all in line for fuel and take away our freedoms gold and silver isn't going to shine quite so bright IMHO.

You say I am short sighted I wonder if you can see the bigger picture? When you say we can't fall anytime soon because we can print money is that the banker in you saying it? The banks made up gazillions in financial instraments called dirivitives and they are playing musical chairs with who is going to get caught holding all that bad debt.

Zero Hedge is reporting

ZeroHedge | On a long enough timeline the survival rate for everyone drops to zero

"What is worse, and what confirms that the daily "near default" state Europe finds itself in every single day has sent shockwaves of uncertainty around the continent, is that the loans to private businesses grew at just a 1.7% rate in November, a plunge from October's 2.7% and missing expectations of 2.6% by a wide margin. Said otherwise, corporate credit (far more important than its sovereign equivalent) is being turned off. And as has been widely discussed without credit flowing, there is not only no growth, but the threat of imminent economic depression. Lastly, that this has happened even as the ECB's balance sheet has risen from EUR 1.9 trillion to $2.7 trillion in 6 months is truly humiliating from Trichet as none of the money he injected into the banks has made it to the broader public, and instead all has been used to prop up Europe's failing banks, something we know all too well here in the US."


Tell you what, if we all get through this for a couple of years then look me up and I will buy you a pepsi if I can still afford it.

jj

 

[Gunner3456]

JJ, You are reading only the bad news, and I think thriving on it. It could make you sick, literally.

I believe the world's economy is in big trouble, but the powers that be don't want to lose power. If we have a SHTF they will lose power. They have to keep the sheeple on board. All countries will first try to print their way out of what I admit is a crisis. We now have another banking crisis in the US. The bailouts didn't work. Don't worry, the Fed will inject money.

Some people predicted that if there were looming signs of economic trouble, gold and silver would skyrocket in a rush to safety. They were wrong. The fact is that the stress on banks and nations is causing them to sell gold and silver to raise liquidity and the PM prices are dropping. Commodities prices are dropping. When individuals, corporations, banks and governments don't have money, how do they buy?

Some people predicted that if governments, especially the US printed trillions more in money it would cause inflation. They were wrong and prices are dropping, still on homes and on commodities including PM's. We have nations in trouble and banks all over the world in trouble and they aren't buying commodities. They are scrambling for cash. The value of the dollar is rising.

I agree that the end of it all is a crash. I just don't think that has to be tomorrow or next year.

People are broke. They lost most of their wealth in the real estate crash, and banks followed suit with bubble based derivatives and are broke. How can they buy PM's or real estate or other commodities?

You know we basically have two kinds of consumer. There are the ones who still live paycheck to paycheck with car loans and credit card debt. Then there are the fewer of them who refuse debt and save. The latter still lost a fortune when the value of their home dropped horribly, even if the home was paid for. Certainly the value of a dollar his skyrocketed if you want to use it to buy a home.

Cash is still King.

 

[Just Jim]

"People are broke. They lost most of their wealth in the real estate crash, and banks followed suit with bubble based derivatives and are broke. How can they buy PM's or real estate or other commodities?"

So will silver and gold go up or down? If people are allready broke and they print bigtime then people will need things other than silver and gold. At any rate they can print all they want but people will still run out of money

Give you two articles(short) to read and it says what is happening right now, not two years from now.


Look Out - Japan is a Powder Keg

Japan has alot of our debt

Gold: This is What an Ex-Momentum Trade Looks Like

The manipulation of PMs continue, read some of the replys

Thanks for worrying about my health LOL

jj

 

[Wenis]

Regardless of what silver is worth or the dollar is worth, it's all to purchase usable goods. So use your cash/silver/magic beans/etc and pay off your house, get a food storage, invest in goods and invest in yourself. I think there's too many people looking to profit during an economic collapse and taking their eye off the ball.

 

[Just Jim]

Regardless of what silver is worth or the dollar is worth, it's all to purchase usable goods. So use your cash/silver/magic beans/etc and pay off your house, get a food storage, invest in goods and invest in yourself. I think there's too many people looking to profit during an economic collapse and taking their eye off the ball.

It all runs out so better to learn to do without.

jj