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What you are failing to take into account is physical silver is no longer relevant in the market. The physical market is extremely small, something like a hundred billion dollars would buy all the silver in the world. The market price is set by comex futures contracts, which can be sold "naked" or without the metal ever being delivered. There are at least a 100 times as many paper contracts sold each day as could actually be produced in physical metal. That is how the price is set and it has nothing to do with supply and demand.

Back when the Hunt Brothers made there run it was a different world, they where buying real metal not paper contracts.

Currently JP Morgan has more actual silver than the Hunt brothers controlled when they "cornered" the market.

Gold and silver will remain unimportant and silly, until they dont. At some point there will be an awakening/understanding that the paper currency in your pocket is backed by nothing but trust in our government and the ability for said government to make good on its debts. The government will never make good on the national debt, It probably wont default, it will just inflate away the debt till the dollars required to pay it back are worthless.... Or devalue the dollar so it only takes a 1/4" as many new dollars to pay it back.

In my lifetime (the next 40 years or so) There will be a dollar crisis, its a mathematical certainty. Even the Government accountability office says our current path is unsustainable.

I think at that point, even though it might be decades away, it wont matter if you paid $5 or $50 an ounce for your silver.


Really though what it comes down for to me is owning "something" Sliver and gold have had value since man started making things. I dont want numbers on a screen. To me owning a pile of silver and gold is the goal, it has nothing to do with how many dollars I could trade them for (at least currently) because I have no intention of trading any of it for dollars. The whole reason to buy the stuff is to get out of make believe paper currency.

Have you ever noticed that the new FED notes match monopoly money colors exactly? Do you think this is a coincidence? I dont, they are thumbing there nose at you. They know when it gets right down to it they are both worth the same..

monopoly money.png
 
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Yet silver was in the $30s and good was at $1800+ not too long ago. I doubt demand has changed that much:D It is a manipulated market just like the stock market. Time will prove me right or wrong.
 
What you are failing to take into account is physical silver is no longer relevant in the market. The physical market is extremely small, something like a hundred billion dollars would buy all the silver in the world. The market price is set by comex futures contracts, which can be sold "naked" or without the metal ever being delivered. There are at least a 100 times as many paper contracts sold each day as could actually be produced in physical metal. That is how the price is set and it has nothing to do with supply and demand.

Back when the Hunt Brothers made there run it was a different world, they where buying real metal not paper contracts.

Currently JP Morgan has more actual silver than the Hunt brothers controlled when they "cornered" the market.

Gold and silver will remain unimportant and silly, until they dont. At some point there will be an awakening/understanding that the paper currency in your pocket is backed by nothing but trust in our government and the ability for said government to make good on its debts. The government will never make good on the national debt, It probably wont default, it will just inflate away the debt till the dollars required to pay it back are worthless.... Or devalue the dollar so it only takes a 1/4" as many new dollars to pay it back.

In my lifetime (the next 40 years or so) There will be a dollar crisis, its a mathematical certainty. Even the Government accountability office says our current path is unsustainable.

I think at that point, even though it might be decades away, it wont matter if you paid $5 or $50 an ounce for your silver.


Really though what it comes down for to me is owning "something" Sliver and gold have had value since man started making things. I dont want numbers on a screen. To me owning a pile of silver and gold is the goal, it has nothing to do with how many dollars I could trade them for (at least currently) because I have no intention of trading any of it for dollars. The whole reason to buy the stuff is to get out of make believe paper currency.

Have you ever noticed that the new FED notes match monopoly money colors exactly? Do you think this is a coincidence? I dont, they are thumbing there nose at you. They know when it gets right down to it they are both worth the same..

View attachment 104786

I have heard the same things since the 1970s, better happen soon because I don't have 40 years left lol
 
You know the old saying "The market can remain irrational longer than you can remain solvent"

They have been saying it for 40 years..... And its been happening for 40 years. I think we are getting down to the nitty gritty though. I think we will see some big moves in the next decade. But what do I know, I bought a lot at over $30 oz. Obviously I cant predict the future ;)
 
When it does go up most hoarders won't sell, it's their nature. It's like an insurance policy they just can't cash in even when it reaches it's end. Each to their own I guess:cool:
 
I do have a plan to dump mine at a price, But not for dollars. My plan is that if we ever see a bubble like we saw in 1980 I'll trade the silver for a nice little farm someplace.
 
I do have a plan to dump mine at a price, But not for dollars. My plan is that if we ever see a bubble like we saw in 1980 I'll trade the silver for a nice little farm someplace.

I really do hope it works out for you. Hope they don't tax your dream to where it won't come true. Won't be long before they know where you spend every penny.o_O
 
When silver hit $48.00 an once in 2011, there was a guy in Gresham buying firearms with his silver stash.
When the price of silver tanked and guns shot up in value in 2013, he started selling his firearms for silver at around $19.00 an once.
 
It's all about timing if you are going to dabble in gold and silver. Buy low and sell high but realize the market can drop to a loser and stay that way for 20 years. Same way with anything else, markets can screw you especially when the politics control them.o_O
 
I know you haven't lost any money until you sell but think about how much value has been lost since gold and silver have been dropping.o_O
 
The thing to remember... no matter what the materials cost, if you can provide an article made of it it will always be more valuable than the material itself. A diamond engagement ring contains a lump of carbon that for some reason has a high arbitrary value, and about $80 in gold. Yet people will pay hundreds or thousands for it.
 
I know you haven't lost any money until you sell but think about how much value has been lost since gold and silver have been dropping.o_O

That the thing.... No value has been lost. Silver has exactly the same intrinsic value if its priced at $5/oz or $500/oz. The silver is the steady thing, its the price of the dollars that swings wildly. Currently the dollar is strong on the world currency market, however the intrinsic value of the dollar always remains the same-- Zero. Ok maybe not zero. It could be useful to start a fire. Silver on the other hand has thousands of industrial uses and has been used as a monetary metal for over 5000 years. No matter what happens to mankind there will always be a demand for silver and there will continually be less of it.

There is actually less silver in the world today than there is gold. There is roughly 15 times as much silver in the ground as gold ( I should say it comes out of the ground at about 15:1) but virtually all the gold ever mined still exists where silver has continually been used up. Something like 90% of the silver ever mined is gone forever, used in such small quantities that it is not practical to reclaim. There are no huge stockpiles of silver like there is gold, and gold has far fewer practical uses. It has been said that silver will be the first metal that we will run out of and we could run out in less than 20 years.

I have bet big that we will see much higher silver prices in the future. But like any bet sometimes you lose.

I am of belief its better to do something and have it be wrong than do nothing which is what most seem to do.
 
I bought silver at $20.
I was thinking about buying more today @ $17 +.

But if I buy $5000 worth, and it increases 20% in value in the next 5 years, I still have made only $1000.

If I had taken that same $5000 and bought 22 ammo 2 years ago, I would have become a billionaire..............:):D
 
The last big pile I paid $19.40/oz for, but the big pile I bought before that I paid $34/oz for. I wish I could buy more at $17-$18 but it does not matter how cheap it gets when your broke ;-). And by broke I mean I have less than about 6 months worth of bills set aside in cash. I would never cut my cushion short to add to my metal pile
 
The last big pile I paid $19.40/oz for, but the big pile I bought before that I paid $34/oz for. I wish I could buy more at $17-$18 but it does not matter how cheap it gets when your broke ;-). And by broke I mean I have less than about 6 months worth of bills set aside in cash. I would never cut my cushion short to add to my metal pile

Yeah, I paid $19.40 too....probably bought on the same day:).

You're a WISE MAN for having that reserve cash available.:)

What's that song sung by Cher "If I could turn back time........."......:confused:o_O:D

I wouldn't have sold all those gold coins for about $500 each.....:rolleyes:
 
I think it was the eighties that gold went to $800 and silver to $40. Only to crash for 20 years to very low prices. Who sets the values on PMs? I don't think they are set by the free market so they are controlled. I don't buy them for that reason, in my opinion the prices are rigged. o_O

I worked in a Hundred Year Old (tunneled) Gold mine in the early 80's, I can not say ~exactly where~ but "near" Republic Washington should be clue enough... We were at 3/4 ounce per ton of Ore, and that shaft started out at 1/2 OZ. per ton... The Owner ~Al~ was positive sure, it would get near to 7/8 ounce per ton, inside of 20, 30 feet of tunnel.

Them there days, were Exciting! What with the prices changing like Pop Corn POPS!

As far as rigged... I will always view that from Both Sides: I have Smithed Gold. I have gone from making an Ingot, then cutting same, to pulling out wire, to manufacturing ~Creating~ a Ring, for a specific finger, for a specific Person... That is what Gold ~is~ About.

The Chosen gem, Carnelian. Its warmth in color is one of the finest color matches for 18 Karat Yellow. But an underused GemStone... Not so, in the Middle East, where there is a different understanding of Jewelry, than America, and ~"Diamonds" are a Woman's Best Friend~

I have seen 3BC Egyptian Gold Smithing, that was nothing short of impossible to create in a Modern jewelers shop. So, I understand, a bit differently, the Intrinsic Value of Gold.

human kind will put value into ~Anything~ that is popular, At the Moment... But some things are Very Much, dualistic, in value.

My Ruger, 45 Colt, Blackhawk, for example... Many, even here, would call it a "dumb" hand gun. Really. It can not carry 33 rounds of Ammo, and shoots fairly slow, compared to say a Glock 21, keeping at least to the 45 caliber....

But I will never part with it. It can be loaded HOT, it can be loaded Warm, it can be loaded Mild, Mild enough that it would leave Lots of meat, on a Rabbit even... 7 & 1/2 inches of Barrel? What for??? :eek:

Yeah this thread is about Silver, some little about Gold...

But it is Really about Security of wealth... Maintaining and obtaining more. There are Many methods to do so. A custom designed Ring, in a general Jewelry Sales ~shop~, is so different, than a Ring Made, for ~you~ or "Yours"... And if it is made of Gold, you will ~then~ Understand, its value.

philip
 
The basic way to make a profit is to buy low and sell high . Why don't people get it? Most everything is manipulated. Our currency is really worth no more than the paper it is printed on. Your P/M will always be P/M. The value of anything is what people will pay for it.
 
$1190 on Friday for gold. We live in interesting times, l would not have it any other way.:D

You could buy a nice Colt SAA for that kind of money.
 

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