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2old
Penny Pincher Member
188 Posts |
Posted - 11/21/2009 : 11:00:04
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| Thank you for your comments, discussion is always welcome and appreciated. I have no confidence in the Feds ability to return the buying power of the dollar, however when comparing the depreciation of the dollar to other currencies rather than precious metals, it may hold its own over the long term. Some of my closest friends predict a default also. Typically when you see a default, you see a currency change. The previous currency becomes worthless quick. I like everyone else have a foggy crystal ball, but discussion sometimes brings about a small amount of clarity. I sold my gold, I sold my silver, I sold my guns, I sold my ammo. Some went to purchase PCGS MS-70 and PCGS PR70DCAM coins, some went to copper scrap and coin. I am still buying copper scrap and coin. Some went to extinguish all debt. That was the best place the money went. I no long have any IOU's. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 11/22/2009 : 17:27:12
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SILVER and GOLD on the move again. Could tomorrow be the day SILVER gets to $19? 
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---> 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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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 11/22/2009 : 18:05:36
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quote:
Originally posted by Country
SILVER and GOLD on the move again. Could tomorrow be the day SILVER gets to $19?
I think it will hit $19 before it drops below $18.
I am just wondering if I should sell some now, and buy back after the pull back. |
You don't have to be the BEST you just have to be.......SLICK
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 11/22/2009 : 18:30:00
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quote:
Originally posted by slickeast
quote:
Originally posted by Country
SILVER and GOLD on the move again. Could tomorrow be the day SILVER gets to $19?
I think it will hit $19 before it drops below $18.
I am just wondering if I should sell some now, and buy back after the pull back.
IMHO, SILVER and GOLD are consolidating/grinding higher prior to a major move higher, and soon. If you don't need the CASH, I'd suggest waiting until we get a blowoff before I would sell. We have not seen any signs of a blowoff yet. How many people do you know that SOLD a major portion of their SILVER at $17? |
---> 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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fb101
Administrator
USA
2856 Posts |
Posted - 11/22/2009 : 18:31:26
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| I'm still buying. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 11/22/2009 : 18:40:07
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| I am still buying, as long as I have the extra FRN's |
You don't have to be the BEST you just have to be.......SLICK
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 11/22/2009 : 19:11:46
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IMO, $19 isn't such a big deal. Silver was well over $20 last year when gold was not nearly as high as it is now. Silver is just catching up to gold.
Don't forget that silver is going up not due to industrial demand but because the dollar is falling and the spendocrats haven't even made out their Christmas list yet.
It wasn't all that long ago many were waiting for $6.00 silver again. Just remember, no sense in backing up the truck if the loading dock is empty. |
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Think positive. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 11/22/2009 : 20:19:03
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i've got a set amount of silver to sell off at $20 - a little more at $23 and so on. i still buy when i have the cash.
gold is unfortunately out of my range now - ive got a couple pieces that will go at $1200 or so then hope for a downturn to buy a little back - depending on what silver does of course. silver is priority for me. |
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 11/22/2009 : 20:51:22
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| I'm not sure when I'll sell, but my buying has stopped at the moment unless its a killer deal. I'll stick with getting my silver $.50 at a time for now, unless we see a pullback.... |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/22/2009 : 23:31:26
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quote:
Originally posted by 2old
Thank you for your comments, discussion is always welcome and appreciated. I have no confidence in the Feds ability to return the buying power of the dollar, however when comparing the depreciation of the dollar to other currencies rather than precious metals, it may hold its own over the long term. Some of my closest friends predict a default also. Typically when you see a default, you see a currency change. The previous currency becomes worthless quick. I like everyone else have a foggy crystal ball, but discussion sometimes brings about a small amount of clarity. I sold my gold, I sold my silver, I sold my guns, I sold my ammo. Some went to purchase PCGS MS-70 and PCGS PR70DCAM coins, some went to copper scrap and coin. I am still buying copper scrap and coin. Some went to extinguish all debt. That was the best place the money went. I no long have any IOU's.
Must be nice, bet you sleep better at night. Way to go  I'm waiting for much higher prices, but at some point I'll do the same  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/22/2009 : 23:35:41
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| I see some people here who are planning to sell at certain levels and what? Realize a profit in increasingly worthless FRN's? And hope for a subsequent pullback to get back in the game? It's a risky game you play, if that's your strategy... you could get left on the sideline and never have the opportunity to get back in. I like Kurr's idea, play the ratios. Switch from one to another, but never go into paper to do so. At 50:1 gold starts to look good, at 70:1 silver looks better. jmho |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/22/2009 : 23:39:31
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[quote]Originally posted by Country
SILVER and GOLD on the move again. Could tomorrow be the day SILVER gets to $19?
If silver and gold don't get sold off in London pre-market I think we could easily see silver punch through $19 on short-covering. They're starting to run scared. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 11/23/2009 : 21:38:55
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Silver has lagged behind gold in reaching higher. Very soon, the price of gold will become unaffordable for most everyone except the central bankers who are looking to dump their dollars. That'll be the time when silver takes on a new luster. I do think $20 is a given. $25 might be a bigger stretch for the immediate future, but that'll topple of the Obama health care bill becomes law (as it's written now). Nothing like the ring of a silver quarter or half dropped on a hard surface. Even a junk silver coin rings as true as a BU piece. I'll never forget that sound.
I'm old enough to have mowed lawns back in the 1960s for $2. Silver dollars were still available for face at the banks and I asked my customers (28 of them one summer) to pay me in silver dollars or $2.25 in regular change. Most did. Still have some of the better dates and doubt if I'll sell them. Well......maybe we ALL do have our price. Nah! |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 11/23/2009 : 22:59:01
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quote:
Originally posted by Know Common Cents
I'm old enough to have mowed lawns back in the 1960s for $2. Silver dollars were still available for face at the banks and I asked my customers (28 of them one summer) to pay me in silver dollars or $2.25 in regular change. Most did. Still have some of the better dates and doubt if I'll sell them. Well......maybe we ALL do have our price. Nah!
Its good that you were able to think ahead and ask for silver dollars back then. Even when they paid you in regular change, you were getting 90% silver. |
You don't have to be the BEST you just have to be.......SLICK
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Investin Cents
Penny Pincher Member
USA
129 Posts |
Posted - 11/23/2009 : 23:05:30
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KCC: I see your comment about taxes in Wisconsin. Here's the deal where I live.
In Illinois we have one of the lowest income taxes in the country. Our gas tax is not low, but folks paying property taxes always seem to get rebates, exemptions & freezes.
The results of the last 30 year of this bad tax policy? We rank only 2nd behind California in total debt. We have bad roads & bridges, crumbling school buildings & unfunded pension & healthcare obligations which we are balancing on the backs of hospitals, nursing homes & small businesses by delayed payments.
I hear Wisconsin has nice roads & people vacation there & have (2nd) homes there who work in Illinois. Is this true?
Bottom line - one way or the other, you will pay what is owed. We in Illinois seem to learn the hard way about this. Wanna trade places for a while & live & work in Illinois??? Please???
Also, if I had the $$$ I'd still buy more silver @ these prices |
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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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 11/24/2009 : 12:14:17
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Not to sound like a conspiracy theorist but have some of you heard of the Amero? I've done some reading that maybe the trashing of the dollar is being done on purpose. Some people in government may be preparing us for a North American united currency or "amero."
If the dollar is pretty much worthless, do you think the American people would fight being switched to a sounder united North American currency "amero"?
Wasn't the dollar stronger than most of the European currencies in the late 80's to 90's? Many people never thought Europeans would agree to a single currency "Euro" Many also believed the Euro wouldn't take off against the dollar and it has pretty much been up against the dollar since its inception.
My feeling is the dollar being in the toilet may be permanent and there may never be a rescuing of the dollar ever again. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 11/24/2009 : 12:17:25
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| I just bring that all up since some seem to hope or think the government will save the dollar and that will stop the bull run on silver and gold. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 11/24/2009 : 12:32:28
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The Amero will never happen. You don't need it to happen. You can re-base (de-base) the USD without having to change the name of the currency.
The USD has been the most trusted currency on the globe. High inflation and loss of purchasing power is nothing new to most everyone else on the planet.
The USD draws so much attention these days to the current situation because it was long ago identified as the best of all bad fiat choices. Just ask the Chinese.
Changing names and pontificating that Mexico is now on board for a new thingy called an "Amero" will not add any confidence. The name of any flavor of fiat currency is not the issue.
One could always hold gold, silver, copper etc to preserve their wealth. Doing so won't even give cause or reason to name it anything else later. |
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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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/24/2009 : 12:47:22
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I was talking with a friend the other day about the possibility of a global currency. One that every nation used without any exchange rates. My thought was it would drive a stake in currency trading. Also, barring counterfeiting, the only way middlemen could arbitrage on that deal would be to charge handling fees to move funds from one bank to another globally. No exchange rates, period. A global dollar in the USA might not get as many burgers in China, but someone holding the new dollar had a piece of the global wealth, per se. Just ship your global dollars over to underfed countries and now they could buy food, etc. I could almost see conduits opening up to finance things all over the place simply because now there was a unit of currency that depended upon pure labor and resource allocation and not paper trading Wall Street types.
I am very skeptical that our governments would try to pull the wool over our heads without some kind of crisis not occurring again. We are on the fear side of the meter vs a decade ago where greed and get-rich on paper was the rage. People do not have as much to lose now by telling the fed to not tread on them. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 11/24/2009 : 12:49:01
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Oh I would never have faith in a united currency. And I would not be in agreement with it but the current situation could definitely be used by the government to promote it.
I don't think one can ever say "NEVER" with 100% certainty. Many said never to the "Euro" Many said never to the European Union. A great book to read is called the United States of Europe if you ever get a chance.
I think globilization and loss of autonomy of countries could definitely be in the cards even for the mighty US.
With China and Russia screaming lately about getting off of the US dollar as the reserve currency, I think there is a LOT less "trust" Some of our "oil friends" have even switched from U.S. backed securities to Euro backed securities. It has been in the press.
I could definitely see countries around the world switching to Euro backed securities vs U S dollar securities if something is not changed soon. Why pile your money in a sinking ship? Once again if history repeats itself look at Europe before the Euro and after. I don't think it could be a stretch that the same thing could happen on the North American continent.
Who would have ever thought Western Europe would take Eastern Europe into its arms economically? Its not that far of a stretch for the US to do that to Mexico.
My main argument is the US dollar collapse may be final and that is why I would not bet against gold or silver. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/24/2009 : 12:53:23
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| Don't forget copper! Might not be the anti-seigniorage play as much as getting silver coins at face value, but we have virtually unlimited access to them pennies right now. |
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Silver to $19 TODAY??
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