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[OLD TIRED RN]

Silver closed Friday over $31+ some odd cents.  Could it be that the Bankers//Builderburg is loosing their grip on being able to hold the price down for a while?  Sure hope so.  Lots of little people waiting/hoping/PRAYING for silver to rise. We all know that there is a lot more silver out there on paper than actual physical silver.  When the electronics industry needs silver and they are down to paper, they can't put paper contracts in those computers, cell phones, etc. What you best we could make a fairly descent premium right now selling our stashes?

                                  Respectfully As Always, RN  (Old tired worn out, broken down, out to pasture.)

[scorpio]

All the markets were up yesterday. People are investing again? I think a load of cash got released into the economy (Berneke) just in time for an election. I invested heavily on aluminum foil can you tell?

[DiabloLoco]

All the markets were up yesterday. People are investing again? I think a load of cash got released into the economy (Berneke) just in time for an election. I invested heavily on aluminum foil can you tell?

Nope. I posted about this on another thread. Bernanke "hinted" at QE3. No money "printed out of thin air".........YET! I think that things will hold off until AFTER the elections. I expect massive injections of capital into ALL of the major monetary systems. Not just the dollar. The Euro, Yen, Yuan.....you name it. They are all faltering. It is no longer the beginning of the end. It is the end of the end.

Within 10 minutes of Bernanke's remarks from Jackson Hole, Wyoming, silver jumped $1/oz. $1 in 10 minutes! Just from this jerk-wad "hinting" at QE3. Don't get me wrong, I want silver to go up....WAY UP!!!! But for one person to have that much sway in the markets is a very bad thing.

BTW- silver closed Friday @ $31.74/oz. Up $1.31 on the day. Also........up about $4 for the month of August.

Here is a detailed chart, mapping silver prices for the month of August-

http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx
(link may not work-You may have to click some options to get the chart-Historical charts-Silver-August 2012-View charts) It's more simple than it sounds.

I made quite a sizable purchase of silver on August 11th. I paid $28.06/oz. All in anticipation for QE3. It's inevitable. It's still not too late to buy! I expect silver to be pushing $40/oz by the end of the year.

[sharp_shepherd]

If you look at the Fed's balance sheet they are "printing" again already and just haven't come out and openly said it.  It's those of us who watch the balance sheet that can jump the market one way or the other.  It's not always a guarantee when things are economically great but when we think another round of QE is coming then it's time to start watching closely and catch the ride early.

But it isn't the balance sheet or the prospect of QE3 coming....it's the fact that the U.S. just passed $16,000,000,000,000.00 in debt and when you take all those into account then the time to buy is now.  It has nothing to do with people "trading" or buying into the market.  If you look at the volume of trades it hasn't done much and wont until October as August and September as always very slow.

[hangman]

Afew years ago I started buying silver and gold. Karen was furious and wouldn't thaw for a few days. Anyhow, we cashed out a couple of CDs recently and was wondering what to invest that money in. Karen said"lets buy more silver." I looked at her funny and she said I'd been right since the last silver I bought was $12.50 oz.

[DiabloLoco]

Silver up about $1 today on "easing" speculation. Buy now, before it's too late!

[DiabloLoco]

Watch for big moves in gold and silver this week.


*note*

I have decided to refrain from posting too often from now on. I will still read everything, but regret to say that I will be posting in threads regarding the economy and markets only. Time is getting increasingly short, and I'm finding that my OPSEC alarm has been BLARING very loudly lately.

Thx,
DL

[FDD]

Saw that Silver was down a little, and it being payday, went to my local coin shop to get some.
while there, I overheard people talking about some new law that congress is working over.
That would track what people bought and sold in metals.
That the metals dealers would have to keep records of who was buying/selling and how much.
plus there was going to be a limit of $1000 a year, both buying and selling.

Has anyone else heard about this?

Dawg

[MamaLiberty]

Has anyone else heard about this?

Dawg

No, hadn't hear about that, but it's no surprise. Just means the dealers will go underground or go out of business, I suspect.

[gunslinger598]

I've heard a couple times now of dealers wanting ID & recording the sale. Most folks just move on.

Usually though when things like this start happening it's a sign of what's to  come.

Another good reason to get  what ya can, while ya can.

[DiabloLoco]

This post is for "Silver".

Silver-

Just wondering if you could give your thoughts about the current plunge in the gold/silver markets. Causes? Effects? etc.....

I value your opinions/thoughts/advice on such matters. I have done a lot of my own research, but you often find information that I haven't seen yet and sometimes give a viewpoint that I have not yet considered.


Thx,
DL

[Silver]

Just wondering if you could give your thoughts about the current plunge in the gold/silver markets. Causes? Effects? etc.....

Thank you for the compliments.

I'm not sure of the cause.  Paul Craig Roberts, no fool, points to the fed.
The Assault on Gold
Assault on Gold Update

The circumstantial evidence is certainly compelling.  The fed has strong motives, ample means, and multiple opportunities.  The evidence is thin, but these are people who are adept at hiding their tracks.  I find Roberts's thesis plausible.

The fundamental economics are compelling.  They are stronger for gold and silver than ever.  The fed is creating $1 trillion (with a T) new dollars annually.  If they were to stop, the stock and bond markets would implode in a matter of days, weeks at the outside.  The economic recovery is a hallucination, as anyone who walks and talks in the real world can see.  The stock market is peaking precisely because the fed has jammed a huge firehose of money into an unmentionable orifice and is pumping furiously.  Nearly all federal spending is based on printed/created money, with tax receipts much less than half of expenditures. 

The printing presses burned out a long time ago, now the money must be created by bits alone. Paper and ink are too slow.

Cyprus sends a message that only dunces will ignore.  The precedent has been set.  It is only a matter of time until US bank accounts are harvested in the same fashion.  The banks in Cyprus were closed for 2 weeks, and when opened would allow only a few hundred per day to be withdrawn. How long would most people last under those restrictions?  How many would fall behind on mortgage, car, and credit card payments?  Does anyone think the creditors will give a pass because of the troubled times?

How much different would one's life be if there was a sack of silver quarters stowed safely to hand?

None of these things suggest a valid reason for gold and silver prices to tumble.  There are some technical excuses, mostly variations on the theme that large funds must sell when the price is falling. 

No matter the cause, I view this as an opportunity to buy.  If someone wanted to buy gold and silver a few months ago, but thought they were too expensive, what is the excuse now?  If the purchase isn't made after the price drops, will it be made when the price rises?

If the market is being manipulated, it is done with paper contracts, naked short selling.  Small fry can take advantage of this to buy physical gold and silver bullion coins, and taking delivery.  Store the metal in a safe place.  That's all.  Trade paper and/or digital bits for physical metal. 

Do it while it is still possible.

As for effects, I expect the truly wealthy nations (those that produce more than they consume) to start loading up on gold.  I expect small buyers all over the planet to buy until the shelves as empty as the ammo aisle at Walmart stores are today. 

I expect the truly wealthy nations to move away from the dollar.  When and how, I don't know, but they would be fools to allow the fed to manipulate their trade, and these are not fools.

I expect the price of gold and silver to go roaring back up.  I just can't say when.  It might be tomorrow, it might be months from now.  I doubt it will be years from now.

Doug Casey says that the price of gold isn't going to the sky, it is going to the moon.  I think he is right. I suspect we are in that calm period just before the final countdown begins.  Once the rocket is launched, it is too late to buy a ticket.  If you want to ride, this may be the last chance.

FWIW, I've bought gold, and silver, and gold stocks.  I've been hammered, on paper, of late.   I sleep well. The metal is safe.  The stocks were speculative bets, I can afford to lose them all, though of course I would rather not.  I'm not buying now, because I spent my money when the price fell to $1500.  If I had more to spend, I would be buying more now.

I hedge my bets. Not all of my wealth is in gold.  I diversify.  Everyone should.  The question is not whether you should own gold and silver, but what fraction of your total wealth should be in precious metals.  That is a question that every one has to answer for themselves.

Peace,

Silver

[da gooch]

Silver-

Just wondering if you could give your thoughts about the current plunge in the gold/silver markets. Causes? Effects? etc.....

I value your opinions/thoughts/advice on such matters. I have done a lot of my own research, but you often find information that I haven't seen yet and sometimes give a viewpoint that I have not yet considered.


Thx,
DL

Yep What DL said.
Especially this part = "I value your opinions/thoughts/advice on such matters."

"I hedge my bets. Not all of my wealth is in gold.  I diversify.  Everyone should.  The question is not whether you should own gold and silver, but what fraction of your total wealth should be in precious metals.  That is a question that every one has to answer for themselves."

Approximately 60% ... "junk silver".
Too much?
I am considering it my "Retirement Account" with the Mattress Bank and Savings.
[I have never been able to afford any gold other than what jewelry I happen across in yard sales and so forth.]
Most of the rest is actual possessions.
My frns are about 5% or less. [Usually a lot less.]

Thanks again for your educated opinions and well considered suggestions.

[DiabloLoco]

Just wondering if you could give your thoughts about the current plunge in the gold/silver markets. Causes? Effects? etc.....

Thank you for the compliments.

No problem. I give credit where credit is due. Have you yet considered the ramifications of the massive landslide in that mine in Utah? At least 10% of the silver market evaporated. It seems that there should be an upswing in metals. I mean with the supply shrinking by that much overnight?!?

[Silver]

I have no idea how the market price of silver will react to the mine disaster.  The market prices are already doing things I don't understand.

If this had happened at a gold mine, the expected result would be: nothing.  Nearly all the gold ever mined can be accounted for.  The world stockpile increases about 1% a year.  So even if a mega-mine was wiped out and took 10% of the new supply off the market,  the world supply would grow only 0.9% instead of 1% that year. 

Silver is different than gold, with industrial uses a much larger portion of the total demand.  This  means that the demand for silver is better correlated with industrial activity than is gold demand.  Silver is also consumed, reacted chemically and/or dispersed so finely that it is no longer possible to economically recover it.  The above-ground stocks of silver are not as big as gold, because the gold stock represents 10,000 years of effort, while the silver stock is largely consumed as fast as it is mined.

Even if the market prices were behaving in ways that I thought I understood, it would be tough to predict the effect of a major mine closure on silver prices.  With the price action so contrary to logic and history, there really is no telling what will happen.

Peace,

Silver