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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 10/06/2009 : 12:02:48
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It sure looks like PMs want to break out from their recent consolidation. The USD is weak and looks to be even weaker. I have heard here and there that our government plans to weaken the dollar dramatically in order to pay off creditors with cheap dollars. Rumors abound that the oil rich countries (denied in public by Saudi Arabia) want to move away from the USD to a basket of currencies. Could silver and gold be starting that "to the moon" rise for which we have been waiting? Could high inflation, even at Walmart, be in store for America as the dollar depreciates?
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 10/06/2009 : 12:54:29
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| Maybe one more pullback? It never really had a pullback from when it went to 1020 a couple weeks ago. Of course maybe the normal laws of ups and downs are suspended due to the special circumstances of all the money creation going on. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 10/07/2009 : 09:10:20
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quote:
Originally posted by AGgressive Metal
Maybe one more pullback? It never really had a pullback from when it went to 1020 a couple weeks ago. Of course maybe the normal laws of ups and downs are suspended due to the special circumstances of all the money creation going on.
I belive we will have a good sized pullback before the end of the year. |
Copper Penny Investing
www.portlandmint.com |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/07/2009 : 17:48:33
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| I think there will be a pullback, but I'm not sure if it will drive gold under $1000 again. |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 10/07/2009 : 17:53:19
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| There is no rumor about the USD being devalued. It is the ONLY option on the table that will work. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 10/07/2009 : 17:55:15
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| Of course silver's yearly high and gold's all time high cracking above 1050 will be extended. There is no other option. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/07/2009 : 18:15:16
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quote:
Originally posted by fb101
I think there will be a pullback, but I'm not sure if it will drive gold under $1000 again.
I did some recent gold buying and even that didn't cause a pullback in the price of gold.  The bar has been raised higher and I got the feeling that we are going to see gold in particular hold on to most of its recent gains and then some. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 10/07/2009 : 18:20:27
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We'll see gold north of $1200, perhaps $1300 before the end of the year.
Markets are funny. When markets take off, many investors wait for a pullback that never happens until the price is exponentially higher. Not saying there won't be a pullback this time. Not saying there will be either.
Cheers! |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 10/07/2009 : 18:33:36
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It has definately been an interesting ride, but I think we are just beginning.
No one has mentioned the Chinese people starting to buy gold and silver. A few people beginning to buy gold and silver is not big until you start takling billions of Chinese. |
Silver Monometalism is the most permanent and stable form of money the world has seen. Natural law and history prove silver value is best multiplied by gold and best divided by copper. It is only in this counterfeit currency time when the natural law appears suspended. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/07/2009 : 18:41:34
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quote:
Originally posted by coppernickel
It has definately been an interesting ride, but I think we are just beginning.
No one has mentioned the Chinese people starting to buy gold and silver. A few people beginning to buy gold and silver is not big until you start takling billions of Chinese.
This time the U.S. dollar looks like it is in real trouble because the only way the U.S. goverment can float their debt is to devalue their way out of it some of it. No, this time it isn't just a bunch of hard money kooks on board with gold, but rather its time to pay the piper. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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barrytrot
Administrator
USA
721 Posts |
Posted - 10/07/2009 : 18:50:42
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| The monster move will be when the USD isn't the modicum of exchange for all commodities. That will take 2 to 3 years, is my guess. At that time expect doubling of all PM's, whatever they are at. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 10/07/2009 : 19:34:35
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| I'm not an expert at reading charts, but the fact that gold broke above its all-time high and is holding steady seems to signify a change in investor sentiment. Also, I'm hearing PMs get more and more attention in the mainstream media and some of it (surprisingly) is positive. A pullback is certainly possible, especially if the market crashes. However, despite the efforts by the media and Keynesian economists to discredit it; the "barbarous relic" is more relevant than ever. |
Edited by - theo on 10/07/2009 19:35:56 |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 10/07/2009 : 20:20:36
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Gold spot just broke 1050.
Silver hit a new yearly high- 17.88 |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 10/07/2009 : 20:51:45
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| woooo-woooooo! here comes the profit train! |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 10/07/2009 : 21:01:52
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| Dont you say that everytime Silver makes a huge gain? |
Trolling is an art. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 10/07/2009 : 21:03:17
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quote:
Originally posted by Neckro
Dont you say that everytime Silver makes a huge gain?
I think this time WE ARE GOING TO THE MOON !! 
The GOLD/SILVER ratio is currently at 58.9 and declining (SILVER is flexing its muscles finally). If GOLD makes a big move, SILVER WILL MOVE TWICE AS FAST!! |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 10/07/2009 21:08:49 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/07/2009 : 23:05:14
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| It's all my fault. I traded some gold to another member for zinc and copper. Whenever I sell gold the price goes up. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 10/08/2009 : 05:49:40
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I might as well cheer. I cannot buy any more PM's for the foreseeable future anyway. I have enough fiat to sort halves and will continue. Silver is my main PM. It rarely gets any mention in news about gold and the dollar. I have only 5 ounces of gold so it's mild entertainment watching the price climb.
So all aboard for the moon!
Go baby go!
0CD
Ron Paul is my hero and I have to like Grayson, if only for his work on The Fed and his wicked questions :). (otherwise ^$#@^$%#!!!) |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 10/08/2009 : 07:18:27
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| Silver goes up this tim every year as I try to buy a bunch of Christmas rounds or bars for my grandchildren. |
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Investin Cents
Penny Pincher Member
USA
129 Posts |
Posted - 10/08/2009 : 09:28:21
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| I hate to be the bearer of bad news (that seems to be my job in life!) but it is not so much us racing to the moon with our PM's as it is the floor falling down around us. Unless you have all the money you'll ever need in PM's, you will be affected by the drop in the dollar. All my assets & debts are denominated in dollars so unless that changes I and everyone else is along for ride - like it or not. So you can be happy to see gold rise but just remember the other side of the equation & place it in perspective. |
Most recent book I've read: "Meltdown" by Thomas E. Woods Jr. Current book: "I.O.U.: Why Everyone Owes Everyone & No One Can Pay" by John Lanchester |
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digitalfour
Penny Sorter Member
74 Posts |
Posted - 10/08/2009 : 09:42:58
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quote:
Originally posted by HoardCopperByTheTon
It's all my fault. I traded some gold to another member for zinc and copper. Whenever I sell gold the price goes up.
Don't fret Hoard, I just sold some silver and now the same thing happened to me. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 10/09/2009 : 21:03:50
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quote:
Originally posted by Investin Cents
I hate to be the bearer of bad news (that seems to be my job in life!) but it is not so much us racing to the moon with our PM's as it is the floor falling down around us. Unless you have all the money you'll ever need in PM's, you will be affected by the drop in the dollar. All my assets & debts are denominated in dollars so unless that changes I and everyone else is along for ride - like it or not. So you can be happy to see gold rise but just remember the other side of the equation & place it in perspective.
I agree that no one on this forum has enough money or PM/base metal to see them through if the dollar really goes down, but those who have silver and gold will find the going rough while those who have neither will find the going rough times ten or more.
If the dollar really goes down too far and too fast the rest of the world goes down economically.
The Chinese don't want the dollar to go down until they can live without it or us, the US. The EU doesn't want the dollar to become worhtless due to their dollar holdings and the fact their exports to the US would dry up. OPEC doesn't want the dollar to go down too fast, or the currency that they use to sell oil and the currency they keep their wealth in, the dollar, will hurt them badly economically.
To put it another way, the whole world is tied to the dollar for better or worse, the dollar is like a noose around the world's neck, and until the world can do without the US the world can't do without the US dollar.
some predictions call for the US dollar to lose its status by 2020 when China can sell to itself due to internal demand, and Europe is strong enough to support itslef without the US.
We will see what the future holds, but as the old saying goes-
"I have never been in a situation where having money made it worse." — Clinton Jones
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Silver and Gold - Has the Monster Move Begun?
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