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Precious Metals attacked! *Updated With Video*

We all know how important holding precious metals during the currency collapse is.
It is my belief that they are doing this for three reasons:

1.) They want to shake the small hands of their positions through fear.

2.) They don't won't Gold and Silver to be seen as a "Safe Haven"

3.) The price of Gold is cheap so they can buy it up for cheap!

If you are unsure how the market is manipulated, I would encourage you to research that on Youtube.
Keep in mind that JP Morgan no longer has a short position on Silver, because a lot of info is out there to bring them down on a previous short position (Meaning they didn't have all the Silver they promised).

Price of Gold when posted: $1293.94 (down $72.96 per Ounce)

Price of Silver when posted $19.97 (down $1.71 per Ounce)

Gold to Silver Ratio is: 63.35

11 Silver Things You Need To Know About Silver Right NOW

Check out a massive silver collection at the end of the Video:

http://youtu.be/MDOl2L-8n4U



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I hear ya

and I'm holdin' a good stack already. I also have a few other things in play in the event of total market and monetary collapse. I think we are still a few years out on that though, give or take, at least. PM stocks are going to skyrocket like no ones business, for those that can stick it out over this summer's beat down, which will supply me with a large ass stack of FRN's to dump into gold and silver (and ammunition) after a short term hold on PM stocks. Make your money, don't get greedy, then dump it for hedge materials.

I don't see PM stocks and

I don't see PM stocks and miners going anywhere in the long term. I see nationalization and a paper crash.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

I don't either, necessarily

but over the short term I am shooting the moon on them. Nationalization is a concern I keep in mind, but it isn't coming yet. They will implode the dollar first, at the very least, imo.

I believe in PM's very strong, but I have very little faith in much of the supposition you find on PM sites. Their basic premise is very good, but they are salesmen selling silver/gold to make money so there is a bit of a 'grift' involved in how they spew the speculation.

Bought another tube of Silver

Bought another tube of Silver Eagles this morning. I think I paid around $450. I'm already well into the shiny stuff for 6 figures. I'll continue to buy all the way to $5 or lower if I can.

The only question is when is force majeure coming? How much longer will there be inventory at the CME? Who will be the first to be settled in greenbacks?

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Holy

Crap dude. Keep Stackin :)

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)

A day of reckoning is coming

which side will you be on, the paper side or metal side? A little over a year ago I research how much silver was left to be mined, which was estimated to be 20 billion ounces. If you look at the debt clock they added a metals part to it, shows we have just over 18 billion oz left. There is more to be mined but it is not economical to mine until the price goes up.

Since the world uses over 1 billion a year when will the elites let the price go up? Looks like to me there will be no silver to mine after 15 years, I doubt their that stupid to push it that far. Investors are now buying more silver than ever, and every silver eagle minted will most likely never be put back on the market at melt price.

For the silver investor time is on your side the manipulation will have to end at some point. The longer the manipulation goes on the higher the price will go up when it does end. The free market will have it's day of reckoning.

http://www.usdebtclock.org/gold-precious-metals.html

The silver market is like a ticking time bomb that will explode in the manipulators face.

Gold standard: because man can not be trusted to control his greed

I am of the opinion that they

I am of the opinion that they will be as worthless as paper at some point. If silver goes to $5 while the dollar is still losing value, no one is going apply like $50 premiums to it and have it sell. No one is going to deviate far from the globalists' spot price.

Please come join my forum if you're not a trendy and agree with my points of view.

No need to get butt-hurt,

No need to get butt-hurt, trendies. I'm just telling you what's going to happen with the metals. Their spot prices are going to keep plummeting and the majority of the world aren't going to consider them money. They're fine if people have a mutual understanding of their value, like in some underground economy, but they aren't going to be a widespread currency.

I recently liquidated all of my silver because I was given notice of eviction and I also need a car. I'm glad I did so then because now it would be worth a ton less. I doubt I will ever get back into it.

Please come join my forum if you're not a trendy and agree with my points of view.

google: value

google: value

Go do what Mark Dice does.

Go do what Mark Dice does. Go try to trade PMs to random people for other forms of money, or even goods. Intrinsic value is based on public opinion.

Please come join my forum if you're not a trendy and agree with my points of view.

Intrinsic

intrinsic
adj
Of or relating to the essential nature of a thing; inherent

Belonging to a thing by its very nature: intrinsic value.

It has value because people

It has value because people consider it rare. It only has that value when people demand it. If no one has a demand for something, it can be as rare as it wants. That something will have little value.

Please come join my forum if you're not a trendy and agree with my points of view.

wrong again.

wrong again.

Intrinsic value ≠

Intrinsic value ≠ value.

Learn some logic. Anything only has value because people say it does.

Please come join my forum if you're not a trendy and agree with my points of view.

"It has value because people

"It has value because people consider it rare." Learn some facts, it has utility.

They only have utility to

They only have utility to people who think they have worth, which is almost no one. It's good to store your wealth, but you're never going to get it to be money again.

Please come join my forum if you're not a trendy and agree with my points of view.

Strike three, you're

Strike three, you're out!

Silver and Gold are essential components of ubiquitous electronic devices that people at this point literally can not live without. Utility.

Oh, STFU already. That does

Oh, STFU already. That does not mean they will have value to society as a store of wealth, or money. People go around stealing copper, but you don't see anyone but a few insane hoarding pennies. Industrial metals are actually always kept cheap artificially.

Please come join my forum if you're not a trendy and agree with my points of view.

Michael Nystrom's picture

I declare you the winner

You are correct, gold & silver have no intrinsic value. They have value because we all (more or less) agree that they have value. But not all of us are in on that loop of agreement, as you point out with the Mark Dice videos.

(For those of you who haven't seen Mark Dice videos, he goes around trying to sell silver to people for a dollar. Or trade a silver dollar for a paper dollar, and usually gets no takers. (On the other hand, if some random, weird looking guy accosted me with a camera in my face on a public street, I'd probably ignore him too. So I take those videos with a grain of salt.))

Cigarettes are known to serve as currency in prisons. Cigarettes do have intrinsic value -- to smokers. But not to non-smokers. Non smokers use them as currency because there is an underlying demand for them, provided by the smokers.

Food has intrinsic value to everyone - everyone who eats, that is. Although a chicken leg might not have much value to a vegan. But if he gets hungry enough, I imagine he'd eat it. Food products - grains especially - have served the function of money & currency throughout history. Food has intrinsic value. You can eat it. Not so with gold.

FRNs also have no inherent value, but they do have an underlying demand: To pay taxes, mortgages, buy a beer at the bar, etc.

I don't know how "worthless" gold will become. I just know it has a long way to fall from here. I wouldn't be surprised to see it trading at $400/oz in a few years.

As far as price predictions go, I'm in the Jim Grant school. There is an incredible amount of wisdom in this interview:

http://www.kitco.com/news/video/show/on-the-spot/340/2013-06...

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts

Michael

I don't think the term "intrinsic value" is very useful. I prefer the terms "use value" and "exchange value." "Intrinsic value" implies some kind of objective value, which makes no sense. All values are subjective.

For example, gold and silver have both use value (jewelry, electronics), and exchange value (used as money). FRNs don't have much of a use value, unless you want to use the paper to write a note or wipe you ass with it.

Hope this helps to clear up the discussion.

“Although it was the middle of winter, I finally realized that, within me, summer was inextinguishable.” — Albert Camus

Lets stick with your premise

Lets stick with your premise of "public perception"...Do tell, which fiat currency in the last 5000 years, 500 years, or even 50 years has outperformed gold and silver in public perception/faith.

They must have plenty of good

They must have plenty of good public faith, since they keep coming back over and over again. People use paper for a while, then people use metals for a while, then metals come back, then paper comes back. A fiat currency could be gold...

Please come join my forum if you're not a trendy and agree with my points of view.

Michael Nystrom's picture

So far, the US Dollar

So far.

Sorry to but in on your argument.

I think I'll go make some lunch now.

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts

haha, I'm honored by your

haha, I'm honored by your presence. I guess I worded it wrong. Should have asked, what fiat currency has outperformed metals in terms of purchasing power over any given amount of time in world history?

and you think this

and you think this because??????????????????????

You should study world history and currencies. With massive money printing and debt, there is no way there will be deflation over the longer term. Sure, if there is an 'event', there could temporarily be a flight into cash, but longer term...all fiat currencies end the same way...their intrinsic value is ZERO. Anyone thinking otherwise doesn't understand history.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

I don't care what history

I don't care what history says. At no time in history has there been global control and technology to make instant transactions. There is a reason why they said people will be throwing their gold and silver into the streets. It will be worthless at some point. If you look at the metals logically, most of society holds no value towards gold and silver. That's what intrinsic value means. A small portion of people of the world think they're of any value.

Please come join my forum if you're not a trendy and agree with my points of view.

Only a "small portion of people of the world

think silver and gold are of any value." I agree, but doesn't the small portion of people of the world determine value to begin with, the trend setters? The average Joe is a follower.
In every industry I can think of it is a small portion of people who determine direction, popularity, value.
The Silver & Gold hoarders are the illuminati of currency. It is the educated, wealthier, and more influential of the population, the small portion of people, that Do see a value (intrinsic or utility or otherwise). I think these are the people that really move the world market; they are in agreement of value. I think everyone else will follow whether they want to or not.

What good does it do when the

What good does it do when the rest of society finds it worthless? Too much of an effort to turn into an asset they want? Sure, it's fine for small economies that have a mutual understanding of its value, but you're never going to be able to a real store and spend it for more than its face value.

Please come join my forum if you're not a trendy and agree with my points of view.

What do you mean worthless?

What do you mean worthless? Silver is the most conducive of all the metals and the US Geological Society is saying the world will be out of easy to find silver by 2020. It's used in everything....phones, solar panels, computers, laptops, cars, etc. If you have an iphone in your hand...you're holding silver.

Silver is not like gold. It comes out the ground and most is used up in industrial applications. Most of the gold ever mined is still here. Silver is trading at around 65:1 to gold, yet comes out the ground at a 9:1.

Silver is a no brainer. Once the Comex fails to deliver, you're going to find out just how valuable silver is and paper prices will no longer be relevant.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

The silver that has been

The silver that has been mined hasn't gone anywhere either. Just because most of it is now in landfills does not mean it's gone. You really think when the Comex fails to deliver they aren't going to just go around confiscating it? I know most here supposedly will protect theirs with guns, but there are those who won't, and they will get the silver they promised somehow.

I thought this topic would about precious metals, just not silver. My whole point is that in the LONG TERM (a thing that is always applied to PMs) I think they will be rendered basically worthless. People will have chips, those that don't will be killed, or be very deep into underground economies, in which case, food, weapons, etc. will be more worthwhile than PMs.

Please come join my forum if you're not a trendy and agree with my points of view.