| Author |
 Topic  |
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 03/31/2008 : 12:15:06
|
|
Gold is down $13. Is that a big deal? Well, gold currently stands at 98% of its opening value, while silver stands at 96% of its opening value. I guess it could be worse (seems like a continuing correction due to profit taking). I personally hope that gold goes back down to $300. It would be the second best buying opportunity of my lifetime.
|
|
|
n/a
deleted
86 Posts |
 Posted - 03/31/2008 : 21:21:33
|
quote:
Originally posted by starwarsgeek171
Gold is down $13. Is that a big deal? Well, gold currently stands at 98% of its opening value, while silver stands at 96% of its opening value. I guess it could be worse (seems like a continuing correction due to profit taking). I personally hope that gold goes back down to $300. It would be the second best buying opportunity of my lifetime.
I'm not going to worry about short bear runs on PMs. I was at first but locals in my area are complaining how inflation is effecting their standard of living more frequently (just like anywhere). Yet, I hear no one bringing up the subject on Gold. It's as if no one is educated of it's advantages. The Chinese govt encourages it's citizens to buy Gold as a hedge, why can't ours?
Speaking about the lack of education in this country, most people believe that Samual Adams is just another beer even when it mentioned he was one of the first initial congressmans (as it was shown on Leno). I found this amusing and dissapointing to the same respect.
So due to this data, there's no doubt in my mind that PMs will climb to new EXTREME heights in the long-term. |
 |
|
|
fiatboy
Administrator
912 Posts |
Posted - 03/31/2008 : 21:51:21
|
Did the Ancient Romans use Federal Reserve Notes? What currency did Charlemagne use? What about the Vikings? Were the Spanish Conquistadors looking for Federal Reserve Notes? Did Blackbeard plunder for FRN's?
Open the sarcophagi of the Egyptian pharaohs and tell me what their coffins are burnished and adorned with.
The world over---from Thailand to India to old Albion---it's been gold, silver, and copper that have withstood the test of time.
Take a time machine and go fetch King Tut, Eric the Red, and George Washington. Sit them down to watch CNBC or Bloomberg television. The only reference points they'd share among themselves and with you would be the commodities, especially gold, silver, and copper.
Every fiat currency has its 15 minutes of fame. But metals are eternal. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/31/2008 : 22:13:42
|
| Actually, the ancient Romans debased their coinage as well. Governments are always trying to put one over on the people.. LOL. You didn't think this was a new idea, did you? They had a demomination called an antoninianus. It was supposed to be a double denarius. The denarius was the standard silver coin of the day. A gold solidus was supposed to be a month's pay for a soldier. No soldiers had them. Pretty much only politicians and wealthy merchants had them. The average soldier got paid something like 4-6 denari a week.. a little more during times of war. Not a heck of a lot, but their union was able to negotiate a really good rape and pillage package. Anyway, this antoninianus (double denarius) which should have been silver, became little more than a bronze coin with a silver wash on the outside. I think Diocletian is the Roman emporer credited with this bright idea. |
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. |
|
|
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/01/2008 : 08:34:57
|
| Buy, buy, buy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! |
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/01/2008 : 08:50:28
|
SWgeek,
you are confusing.
Are you bullish for PMs or not. I am bullish over the 1 year and 5 year period, no matter how low they go.
THey WILL go back up, in the one year time frame they will be back above their previous recent highs. Mark my (and so many others') words. |
"May your percentages ever increase!" |
|
|
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/01/2008 : 09:02:42
|
| Yes, confusing. Even to myself. Sorry. However, one thing that I'm sure of is that I'm bullish on all the metals over the LONG TERM (20 years). If you try to buy and sell this market, you'll lose your shirt. Recently, after a great deal of research (a true metanalysis), I have developed greater faith in gold's future than in silver's (I still love the Cu play). Bottom line: Buy gold. Buy, buy, buy!!!!!!!!!!!!!!!!!!!!!!!!! This is so great! Let it be sold by fools all the way down to $300! I will laugh all the way to my safety deposit box. |
|
|
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/01/2008 : 09:17:37
|
| 887/1024 = 87%; 16.63/21 = 79%. Hmmmmmmmmmmm? |
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/01/2008 : 09:36:28
|
OH, I know that silver has gotten sold off more so. Ted Butler will claim this is market manipulation by a conglomeration of 4 large short sellers. I've seen enough patterns and such that I can see that as a definite possibility.
People are still somewhat unconvinced about silver. But at some point if the Industrial users really can't get enough supply(because it has been used up) then the price will go up.....astronomically more than likely.
I think you are dead wrong about there never being a shortage of silver. I think Silver is the one metal that could see a true shortage. (GOld won't because it will never be in short supply, errr....supply and demand will regulate it.) But silver could become HARD TO GET at any price.
There is some US Geological Survey data that seems to STRONGLY support the "silver depletion" theory/idea.
But good luck with that Gold thing. I'm sure you will be happy with it, I just believe that I'll be even happier at getting silver so cheap!
Actually, I looked too quickly at your numbers recently...... So gold has been sold off more so? Either way, I'm B.B.B.B..BULLISH for silver! |
"May your percentages ever increase!" |
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/01/2008 : 09:45:57
|
No...I was right the first time....
From their recent highs:
Silver is down 21%
while GOld is just down 13%.
HOWEVER!!!!!!!!!!!!!!!
GOld at start of year to high 847/1024 = up 20.9%
Silver 14.97/21 = up 40.3%
From first of the year to now,
Gold is up 3.52%
Silver is up 9.55%
Hmmmmm.... |
"May your percentages ever increase!" |
|
|
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/01/2008 : 10:02:21
|
| Nice comeback with the full year of stats! However, I was only trying to show that gold has retained more value after a major correction. We will have to respectfully disagree over the silver issue. I would suggest that you research Indian reserves, as well as the existing world mining potential. I'd also look (with an open mind) for information which states the other side of the issue (they've been calling for a shortage for decades). Finally, I don't care about the supply and demand for gold. When money is backed by gold again (which I feel that it will be within my lifetime), the demand will dwarf the supply. Also, once again, I like silver; gold is just better. |
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/01/2008 : 11:06:54
|
:) Money backed by gold.... then you really are looking for a Currency collapse event!?
I am all for backing money, but you are right, there just isn't enough GOld to back the current market(US or international).
I had never read anything about Indian silver reserves, can you point me somewhere to learn more?
Enjoy discussing it!
Thanks! |
"May your percentages ever increase!" |
|
|
|
n/a
deleted
86 Posts |
Posted - 04/01/2008 : 12:04:32
|
Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah, Blah.
Conclusion: The dollar is flexing it's flab showing somekind of bullfat strengh illusions, therefore, the dollar SUCKS... I'm not worried about it at all. |
|
|
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/01/2008 : 12:50:55
|
Non-wiseman, no kidding (re: dollar's supposed comeback). And neither am I (re: worried).
wolvesdad, I'll post that info in a few days. |
|
|
|
n/a
deleted
86 Posts |
Posted - 04/01/2008 : 13:27:05
|
Does anyone have any dollar jokes? Like what does Ben Bernanke, Hank Paulson and the dollar all have in common?
I don't have an answer yet, but I know there could be a good punch-line to it. |
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/01/2008 : 13:36:29
|
| They are all three going to be wiping @$$'s when TSHTF ??? |
"May your percentages ever increase!" |
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/01/2008 : 13:36:31
|
Price: US$/lb
Copper April 01,13:48
Bid/Ask 3.8408 - 3.8499
Change +0.0000 +0.00%
Low/High 3.8408 - 3.8499 - Kitco base metals
The surprise to me is that copper is still holding high dispite a quick dip. I hope the dollar gets as strong as it can. Dispite the fact that I'm holding precious metals, (mostly silver) I have a lot more to gain from a strong dollar and with any luck, a strong U.S. ecomony to go along with it than from my PM investments. I'm not banking on a strong dollar yet though.
Even if inflation driven speculators pull out of silver and/or copper and the price comes down for a while I can live with that too. Both are industrial metals so sooner or later the demand for them will come back.
|
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. |
|
|
|
starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/01/2008 : 13:51:53
|
"I have a lot more to gain from a strong dollar and with any luck, a strong U.S. ecomony..."
You're right; I think we all do if we're properly positioned. |
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/01/2008 : 14:21:34
|
| I would love to see us all make a killing on this copper and/or nickel we are hoarding. I would love to see this country somehow turn things around so our metals were to be used to rebuild its infrastructure in a way that was substainable and benefited the common man more than the corporations. |
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. |
|
|
|
Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 04/01/2008 : 16:11:26
|
The Denarius or Penny (D) of Roman Times was silver, over time it was debased and turned to copper the Brit's used the Penny (D) until 1971. You can still see the remnants around when you buy a 16 (D) penny nail at the hardware store.
The sadest part is that US little dollar coins are even more debased than the silver or copper coins of the same size once called the Denarius.
|
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
|
|
|
Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 04/01/2008 : 16:23:34
|
Gold, Silver and Copper will in the long term always go up in relation to the Fiat Currencies.
So if the price of Gold, Silver or Copper goes up in USD you will hear a lot of us say, "The price is going up, buy before it goes higher."
If the price of Gold, Silver or Copper goes down in USD you will hear a lot of us say, "Buy now while the price is low, before it goes back up."
If the price stays the same, goes up of goes down, my personal goal is to buy 20 USD worth of Silver each month. If that is one Silver Dollar or one Silver Dime I feel that I am doing better. Ever few months I buy a box of Cents and sort out the copper cents and send the rest back.
I don't have the money or time that lots of the folks here do. In the end I figure $10 silver and $100 in copper is worth more in my freezer than not having it at all. I finally broke $100 in copper cents, again. Besides that if I need the money I can take it to the bank and get USD for it. Yes, I have cashed in when I ran out of money that is why my hoard is so small. Yes, I say, “buy Gold,” even when I don’t have any myself. I wish I did.
|
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/01/2008 : 17:34:10
|
| Good advice Cody. I too will take advantage of any lower PM prices and buy a little at a time. Even one ounce a week is more than 99% of all people buy. |
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. |
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/01/2008 : 17:39:44
|
quote:
Originally posted by Ardent Listener
Good advice Cody. I too will take advantage of any lower PM prices and buy a little at a time. Even one ounce a week is more than 99% of all people buy.
You are correct. Most people have no clue.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
|
|
|
pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 04/01/2008 : 18:36:06
|
quote:
Originally posted by Non-wise man
Does anyone have any dollar jokes?
Like what does Ben Bernanke, Hank Paulson and the dollar all have in common?
One answer- All three lose their value, worth and credibility day by day.
|
|
|
|
Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 04/01/2008 : 19:18:46
|
quote:
Originally posted by Ardent Listener
I would love to see us all make a killing on this copper and/or nickel we are hoarding. I would love to see this country somehow turn things around so our metals were to be used to rebuild its infrastructure in a way that was substainable and benefited the common man more than the corporations.
It's very easy to forget the forest for the trees. In the past few days, as I've been increasing the pace of getting prepared, I've had to ask myself if, for some sick reason, I "want" to see the SHTF. Not so much to see it happen, but to prove that I was right all along.
I've thought about it a lot, and, though I'll admit that I am prone to hubris, I can't say that is my driving force. There are just way too many red flags out there. We've all known this was coming for years, decades even. Barry Goldwater warned us in 1976 in his book "The Coming Break Point".
I love this country, and I pray that things don't turn out the way I predict, but I have no faith in our leaders or institutions to be able to, or even try to turn things around. And sadly, I don't have faith in 99% of the American public to have the brains and balls to demand the changes we need.
Sorry if my posts are a "downer". I was visiting my elderly parents a couple weeks ago, and was in a general funk. Mom says to me, "You're just disgusted with the world, aren't you?" To which I replied, "Yes. Maybe I should just get a tattoo, and a Harley, and be just like all the other blissfully ignorant fools out there."
Sometimes I wish I didn't know the things I know.
|
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
|
|
|
|
Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 04/01/2008 : 19:27:20
|
Oh yeah, BUY, BUY, BUY. The upside possibilities of silver or gold greatly outway the downside. Does anyone think we'll ever see $10 silver again? Or $600 gold?
And I'll try to be more upbeat in future posts |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
|
|
|
|
Topic |
|
|
|
Numbers Can Be Deceiving
Forum Locked
