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Ponce
Penny Hoarding Member
Cuba
630 Posts |
 Posted - 05/30/2009 : 23:53:25
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Let's say that silver goes to $25.00, $50.00 or even $100.00 per oz, so what?
If you have all that you need and if you were to sell your silver, or gold then what would you do with all that fiat money?
From my end, if silver were to go for $100.00 I would buy my "Silver Island" and never come back to the US........taxes on the sell? what taxes? I would simple trade my silver for the island and to hell with Uncle Sam, otherwise, I hope to die with everything that I have because that would mean that I never ran out of cash and that WTSHTF never came about.
Remember..."If you don't hold it, you don't own it"... Ponce
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"If you don't hold it, you don't own it"...Ponce |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/30/2009 : 23:56:43
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| The real question is, who will buy it if silver ever reached that price? No local dealer will carry that amount of cash on hand anyways. Silver can be 1,000bucks, but it's worthless if no one can afford to buy it. |
Trolling is an art. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/31/2009 : 00:22:39
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quote:
Originally posted by Neckro
The real question is, who will buy it if silver ever reached that price? No local dealer will carry that amount of cash on hand anyways. Silver can be 1,000bucks, but it's worthless if no one can afford to buy it.
My local coin dealer seems to have plenty of cash on hand to buy gold from people at probably not much under $900 an ounce. What makes you think that people who make their living buying and selling PM wouldn't be prepared for the situation you describe? |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/31/2009 : 00:31:06
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it should be looked at an accumulation of wealth or an asset that will hold value in bad times.
Sell it as yuou need the FRNs for it.
If it does go that high, it wont be a matter of finding a buyer for it. It'll be a matter of why would you really want to sell to obtain FRNs. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/31/2009 : 00:38:39
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| FRN to buy things. People will rush to sell it at the high point. So might dealers cash assets be tapped out until they can pass their current inventory for more? |
Trolling is an art. |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/31/2009 : 00:43:58
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depends on if it was a repeat of the early 80s or not. The high prices at that time was due to someone cornering the futures electronic market. If something like that happened again, we'd see a rush to sell, as the demand that propped up the prices as much as they have risen were artificially induced.
If we're dealing with a collapsing currency & economy or economy with runaway inflation, people will not want to let go of the silver for FRNs regardless of price. Read about situations with high/hyper inflation. People hoard physical, and reject paper.
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Edited by - buyingsilvers on 05/31/2009 00:47:14 |
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digitalfour
Penny Sorter Member
74 Posts |
Posted - 05/31/2009 : 00:59:42
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I saw a hundred trillion Zimbabwe note at a coin show I went to a few weeks ago.
I see silver as a store of wealth. I don't really plan on selling it, I plan on trading it for things I need with people that would prefer silver, like pro-liberty people. |
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Nickelless
Administrator
USA
5580 Posts |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/31/2009 : 09:16:50
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"Accordingly, therefore, this monetary policy statement unveils yet another necessary program of revaluing our local currency, through the removal of 12 zeros with immediate effect."
The move means that 1 trillion in Zimbabwe dollars now will be equivalent to one Zimbabwe dollar.
The old notes -- with the highest being 100 trillion dollars -- not enough to buy a loaf of bread -- will remain valid until June 30, after which they will cease to be legal tender. One U.S. dollar is trading above 300 trillion Zimbabwe dollars.
Worth about $.33 now. Of course you just bought it for the novelty though.
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jacer333
Penny Pincher Member
USA
119 Posts |
Posted - 05/31/2009 : 10:15:52
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I do like the long-term outlook of silver and will be holding my physical long-term, but IMO, seeing silver that high would be a nightmare for us. It would be tough to see silver gaining that much under a stable economy. The only way I see it approaching $100 is if we were in complete chaos. $100 silver could also hit with inflation...but in that case, an ounce of silver may only buy a loaf of bread.
However, if it was this high, I don't think dealers would have a problem continuing business. They should have inventory on hand that they would be able to move at the same prices and theoretically would be able to conduct business at these price levels. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/31/2009 : 11:47:13
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| lol, if these people knew what people where paying on ebay for their toilet paper. |
Trolling is an art. |
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Ponce
Penny Hoarding Member
Cuba
630 Posts |
Posted - 05/31/2009 : 12:15:04
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quote:
Originally posted by jacer333
I do like the long-term outlook of silver and will be holding my physical long-term, but IMO, seeing silver that high would be a nightmare for us. It would be tough to see silver gaining that much under a stable economy. The only way I see it approaching $100 is if we were in complete chaos. $100 silver could also hit with inflation...but in that case, an ounce of silver may only buy a loaf of bread.
However, if it was this high, I don't think dealers would have a problem continuing business. They should have inventory on hand that they would be able to move at the same prices and theoretically would be able to conduct business at these price levels.
Jacer? you are mistaken because the price of silver will go up with the price of bread so that you would be paying the same price that you are paying now for that bread......or anything else, I don't want to make more money with silver but only to hold the value of what I have. |
"If you don't hold it, you don't own it"...Ponce |
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Holding silver bullion? or gold?........
Forum Locked
