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Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 03/02/2009 : 20:44:34
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I'm still having a hard time understanding why gold and silver hasn't skyrocketed through the roof at this point!
How much more economic instability do you have to have in the world?
Bailout after bailout, billions turn into trillions. Several of the largest US banks are busted but still no one knows how bad their books really are? The world's largest insurance company AIG is busted and posted the biggest quarterly loss in U.S. corporate history: more than $61 billion. The government says the insurance company is "too big to fail," so it's bailing out the company again with another $30 billion. That's on top of $150 billion in loans last year.
This is like using a super soaker on a wild fire! What the crap does too big to fail mean? Where do you draw the line? When does this madness end? When will GOLD be at the price it should be?
When will gold and silver be trading where they really should be rather than bouncing around like a ping pong ball?
Are you ready??
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fb101
Administrator
USA
2856 Posts |
Posted - 03/02/2009 : 20:47:34
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I am NOT ready.
But as far as the other thing, we are looking into a crystal ball and seeing what is coming. The rest of the people are still buying into the deflation scenario. When everyone else starts seeing rising prices and the rest of it, they will run to..... |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 03/02/2009 : 20:49:05
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| Copper I agree with you and think its very frustrating to watch this! Once people start to wake up is when it will change. As soon as a small percentage start to wake up the price will rise RAPIDLY!! to where it should be. Till then just BUY BUY BUY!!! |
Copper Penny Investing
www.portlandmint.com |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 03/02/2009 : 21:10:50
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Its hard to say, some people say May, some say sometime 2010. It really depends on how the economy reacts to the bailouts, etc...
To be honest, unless your ready to sell, do you really want it skyrocketing? I don't...
I wouldnt mind a few more yrs of low prices...
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 03/03/2009 : 07:44:55
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Many people believe that the price of gold and silver is being manipulated downward by the US in order to hold up the dollar. In fact, there are several quotes from people that should know like Fed Reserve Chairmen that support this theory. Also the data behind the trading that sets the prices also strongly support the theory.
Lastly, historically, this type of manipulation is consistent with countries trying to save their FIAT currencies and historically this type of manipulation always fails in the long run.
The manipulation tends to work until it doesn't. Hard to say when, but I imagine you will know it when it happens as I suspect that there will be some major related news event like the COMEX fails on a gold delivery. IE somebody with paper gold trys to turn in their paper for bullion only to find that there is no bullion left.
Or maybe the US will succeed in restoring faith in their FIAT and economic system and the whole explosive problem goes back into hibernation for another decade or three, but I wouldn’t bet that way… |
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 03/03/2009 : 07:48:54
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| I think the silver price explosion will start in July this year. I've increased my silver buying from 20 oz a month to around 20 oz a week lately in anticipation of the massive price correction. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 03/03/2009 : 13:08:41
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quote:
Originally posted by horgad
Many people believe that the price of gold and silver is being manipulated downward by the US in order to hold up the dollar. In fact, there are several quotes from people that should know like Fed Reserve Chairmen that support this theory. Also the data behind the trading that sets the prices also strongly support the theory.
Lastly, historically, this type of manipulation is consistent with countries trying to save their FIAT currencies and historically this type of manipulation always fails in the long run.
The manipulation tends to work until it doesn't. Hard to say when, but I imagine you will know it when it happens as I suspect that there will be some major related news event like the COMEX fails on a gold delivery. IE somebody with paper gold trys to turn in their paper for bullion only to find that there is no bullion left.
Or maybe the US will succeed in restoring faith in their FIAT and economic system and the whole explosive problem goes back into hibernation for another decade or three, but I wouldn’t bet that way…
I need help on clarifying if this is fact or fiction: I read one time that people who hold futures contracts backed by Comex have no guarantee that Comex has to pay you in gold or silver etc. They can always default to just giving you cash. Is that correct? I also remember reading that Comex I think last December had more outstanding contracts than they actually had in physical inventory? |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 03/03/2009 : 13:15:34
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| If spot price is quoted in dollars and the dollar becomes worthless, then what will you base the value of gold on? If the dollar is worthless then will it be the yen, euro, ruble? |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 03/03/2009 : 13:37:43
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quote:
Originally posted by fb101
I am NOT ready.
But as far as the other thing, we are looking into a crystal ball and seeing what is coming. The rest of the people are still buying into the deflation scenario. When everyone else starts seeing rising prices and the rest of it, they will run to.....
I'm not ready either- need more hoarding time. When I have enough then it will go. I'm banking on an inner voice to tell ME when to turn my "hunting" fiat into physical, hope I'm not sleeping when it does. 
HH Mark |
"54/54/2280" |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/03/2009 : 14:48:55
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quote:
Originally posted by Copper Catcher
quote:
Originally posted by horgad
Many people believe that the price of gold and silver is being manipulated downward by the US in order to hold up the dollar. In fact, there are several quotes from people that should know like Fed Reserve Chairmen that support this theory. Also the data behind the trading that sets the prices also strongly support the theory.
Lastly, historically, this type of manipulation is consistent with countries trying to save their FIAT currencies and historically this type of manipulation always fails in the long run.
The manipulation tends to work until it doesn't. Hard to say when, but I imagine you will know it when it happens as I suspect that there will be some major related news event like the COMEX fails on a gold delivery. IE somebody with paper gold trys to turn in their paper for bullion only to find that there is no bullion left.
Or maybe the US will succeed in restoring faith in their FIAT and economic system and the whole explosive problem goes back into hibernation for another decade or three, but I wouldn’t bet that way…
I need help on clarifying if this is fact or fiction: I read one time that people who hold futures contracts backed by Comex have no guarantee that Comex has to pay you in gold or silver etc. They can always default to just giving you cash. Is that correct? I also remember reading that Comex I think last December had more outstanding contracts than they actually had in physical inventory?
When requested, Comex is supposed to deliver and they must deliver or they lose credibility. However they do have rules in place in case of defaults. If they defaulted, it would be a huge event. Basically they would risk no longer being a source for quoting the price of gold or trading gold.
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 03/03/2009 : 14:59:33
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Well, since Obama's 'plan' is going to double the national debt and raise the budget deficit, then try to lower it, I'm wouldn't be surprised if it breaks tomorrow.
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Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 03/03/2009 : 23:42:36
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Hi all,
I hope it stays low for a while longer as well. BUT, I'm not going to buy and buy and buy forever and ever until I drop dead. I have a very (what I believe) reasonable amount of gold and silver that I am going to buy and hold, but after I have that I'm going to explore other investment options. I also want to travel, while I'm young, and enjoy life! Yes, I plan to have real estate and gold and guns, but I'm NOT going to crawl in a hole, metaphorically speaking!
wags |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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When Will Gold And Silver Respond?
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