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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
 Posted - 09/02/2010 : 22:49:57
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3/20/2012
Silver skyrocketed in 2011, after the COMEX default, reaching first $300 an ounce, then $500, before leveling off at $700 during the typically weak precious metals months of summer. With gold cresting at $6700 an ounce in November, the gold to silver ratio was nearing 8 to 1 as silver approached $900. Silver production had tapered off to a third of previous years, and pundits were predicting $1000 an ounce on the shortage. The dollar continued to plunge, breaking through support at 20, and it looked like there was no sight in end to the breathtaking plunge that had occured in the preceding nightmarish months as President Obama declared martial law and rescinded social security. Hyperinflation appeared to be the order of the day, and the Hundred Dollar Tree stores were near to bursting with customers eagerly stripping the shelves of the few remaining goods. What to do?
Given the above scenario... what would you do? Would you sell your silver for $1000 an ounce? Think seriously about this and consider... what would you spend the worthless fiat on if you did cash out? Just some food for thought 
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Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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IdahoCopper
Penny Pincher Member
125 Posts |
Posted - 09/02/2010 : 22:55:13
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It depends on how much 30-06 ammo was selling for.
I've got a pretty good stash of that and if I could sell enough to pay off the mortgage, I'd sell ammo before silver to do that, but not sell all of it.
Chances are the buyers for the ammo would have similar political leanings as my own, so its not like they'd be wasted, or mis-applied, lol. |
See - http://IdahoCopper.com
and:
http://beefjerky.com |
Edited by - IdahoCopper on 09/02/2010 22:58:13 |
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rodebaugh
Penny Collector Member
USA
377 Posts |
Posted - 09/02/2010 : 22:56:43
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Future blog entry? I hope your wrong.
I am looking for silver to outperform inflation. Hopefully 2:1 year over year.
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http://rodebaugh.ecrater.com/ |
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Quagmire
Penny Sorter Member
62 Posts |
Posted - 09/03/2010 : 03:22:02
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It depends on a lot of factors really...its all well and dandy if silver is $1000 per oz, but not so much if gasoline is $50 or even $20 a gallon. Furthermore, your scenario implies extreme political instability of the US and why therefore would I be inclined to hold USD? If silver was similarly priced in other currencies, I probably would sell for either Canadian Dollars or German Deutschmarks, assuming that the Euro will not and cannot last, which it wont.
As a matter of preference, I really am not inclined to hold USD, even under the best of circumstances, which the present time would seem to qualify as compared to your scenario. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/03/2010 : 04:59:29
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| its more than a thousand an ounce in zimbabwe dollars. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 09/03/2010 : 05:01:59
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| My junk silver would all be sold before it got to $1,000 an ounce. |
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cu baker
New Member
USA
20 Posts |
Posted - 09/03/2010 : 08:16:13
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| Hold, by this time paper money will be the same as toilet paper, and we will be back to cutting pieces of eight. |
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Dvorak
New Member
USA
19 Posts |
Posted - 09/03/2010 : 08:46:21
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| I don't think I would convert to paper, but I would see if my mortgage company would accept silver to pay off the house so I own it free & clear. |
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franklin
New Member
4 Posts |
Posted - 09/03/2010 : 08:58:56
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| I would attempt to trade for some gold at some point along the way, however, to sell it for fiat would be giving it away, except for the paper purchasing power for that particular day. When value 'rises' as you have described, it is only value in comparison to gold. After the hyperinflation finally shakes out, your silver stash would be your wealth that had been retained. My opinion only. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 09/03/2010 : 09:30:33
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| Why not, if the value of the dollar wasn't revalued, sell just enough to completely pay off mortgage. :D |
Trolling is an art. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 09/03/2010 : 09:53:36
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| I would TRADE some of mine for real estate properties or land; especially if it got very overvalued in relation to other assets. Cashing it out for paper fiat would not be benefit you in any way under the inflationary scenario. |
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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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Blackrabbit
Penny Sorter Member
27 Posts |
Posted - 09/04/2010 : 11:41:51
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| I'm with Country on trying to trade it for real estate. Under such a scenario there would be a lot of social dislocation and I am betting some nice land/property will be available for relatively very cheap prices. |
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Sheikh_yer_BuTay
Penny Pincher Member
USA
232 Posts |
Posted - 09/04/2010 : 13:00:24
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I am trying to buy 10 acres right now using silver coins. The seller is a coin collector too and knows the growth potential of the PMs. Wish me luck!
As the buying power of the FRN drops... paying off the mortgage with PM's looks promising!
I agree with Prof. Fekete. IF FRN's do collapse... PM's will not be available at any price in fiat, paper money. Permanent backwardation will occur. |
"The most fiscally irresponsible government in American history."
Mort Zuckerman, liberal columnist and former Obama speech writer |
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franklin
New Member
4 Posts |
Posted - 09/04/2010 : 17:19:20
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| I would think using the current paper currency to purchase land at this time would be a better strategy. Assuming you are sitting on cash and assuming that cash is not going to increase in 'value', lock in real estate now by exchanging that which is bound to lose its value, not the PMs that will hold or increase value. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 09/04/2010 : 18:51:56
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quote:
Originally posted by beauanderos
3/20/2012
Silver skyrocketed in 2011, after the COMEX default, reaching first $300 an ounce, then $500, before leveling off at $700 during the typically weak precious metals months of summer. With gold cresting at $6700 an ounce in November, the gold to silver ratio was nearing 8 to 1 as silver approached $900. Silver production had tapered off to a third of previous years, and pundits were predicting $1000 an ounce on the shortage. The dollar continued to plunge, breaking through support at 20, and it looked like there was no sight in end to the breathtaking plunge that had occurred in the preceding nightmarish months as President Obama declared martial law and rescinded social security. Hyperinflation appeared to be the order of the day, and the Hundred Dollar Tree stores were near to bursting with customers eagerly stripping the shelves of the few remaining goods. What to do?
Given the above scenario... what would you do? Would you sell your silver for $1000 an ounce? Think seriously about this and consider... what would you spend the worthless fiat on if you did cash out? Just some food for thought
In such a situation $1,000 would = about $1.00 in today's dollars. No, I perfer not to take a loss on my silver. I would hold out for higher prices.  |
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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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Sheikh_yer_BuTay
Penny Pincher Member
USA
232 Posts |
Posted - 09/05/2010 : 11:15:37
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quote:
Originally posted by franklin
I would think using the current paper currency to purchase land at this time would be a better strategy. Assuming you are sitting on cash and assuming that cash is not going to increase in 'value', lock in real estate now by exchanging that which is bound to lose its value, not the PMs that will hold or increase value.
Yeah, IF silver zooms to the moon... man, would I be banging my head against a wall!
On the other hand... To pay in FRN, I would have to sell the silver anyway and then pay the guy. He will want more in FRN than he will take in silver (maybe). Time will tell.
Beauanderos, part of your scenario is already happening! |
"The most fiscally irresponsible government in American history."
Mort Zuckerman, liberal columnist and former Obama speech writer |
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fb101
Administrator
USA
2856 Posts |
Posted - 09/05/2010 : 12:22:09
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| Pay off the mortgage and any other debt you may have. Hold the rest. |
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wiper
Penny Sorter Member
36 Posts |
Posted - 09/05/2010 : 14:09:51
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everyone got to it already, but in that situation, what would i gain by selling?
if you offered me $1000/oz right NOW, i'd give you every single bit i have, down to the last gram. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Aristobolus
Penny Sorter Member
76 Posts |
Posted - 09/06/2010 : 03:04:42
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quote:
Originally posted by Ardent Listener
quote:
Originally posted by beauanderos
3/20/2012
Silver skyrocketed in 2011, after the COMEX default, reaching first $300 an ounce, then $500, before leveling off at $700 during the typically weak precious metals months of summer. With gold cresting at $6700 an ounce in November, the gold to silver ratio was nearing 8 to 1 as silver approached $900. Silver production had tapered off to a third of previous years, and pundits were predicting $1000 an ounce on the shortage. The dollar continued to plunge, breaking through support at 20, and it looked like there was no sight in end to the breathtaking plunge that had occurred in the preceding nightmarish months as President Obama declared martial law and rescinded social security. Hyperinflation appeared to be the order of the day, and the Hundred Dollar Tree stores were near to bursting with customers eagerly stripping the shelves of the few remaining goods. What to do?
Given the above scenario... what would you do? Would you sell your silver for $1000 an ounce? Think seriously about this and consider... what would you spend the worthless fiat on if you did cash out? Just some food for thought
In such a situation $1,000 would = about $1.00 in today's dollars. No, I perfer not to take a loss on my silver. I would hold out for higher prices.
Ditto. If I could get $1000.00 per ounce with today's buying power, yes I would sell the ammount commensurate with my debt; and keep the rest. But I agree with the above, in such a scenario there is a good chance that our currency will have devalued; 1980 notwithstanding. |
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Would You Sell Silver at $1000 an Ounce?
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