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Silver
Submitted by Tessie101 on Mon, 03/03/2008 - 01:03
Take a look at this people, just scroll down once you get on the link and see what silver is doing, scroll further down and see how bad the dollar is: Silver is taking off, granted it is the Asia market which opened a couple of hours ago, but silver has broken $20.00 an ounce, and the dollar continues to decline. » |
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Silver
I bought in at $11.54.
Caveat: The silver boom of '79 and the gold boom of '80 are really just asterisks. The silver spike was due to a couple of Texas cowboys trying to corner the market. The highest gold prices in '80 that you constantly hear about only lasted a very short while before the price came back down.
Things are a lot different now. The financial markets are catatonic, and inflation is global. Compare now to then at your own risk.
I bought
Silver at $9 an ounce....as soon as my silver dealer opens tomorrow, I am in again. Get ready for the roller coaster going up and up....anything below $30 an ounce is a deal when SHTF! Game on. Buy 90% coins here!
http://www.apmex.com/Category/17/90_Silver_Coins_Rolls__Bags...
Even small amounts...get in now!!!!!!!!!!!!!!
I bought at $12.50 and at $13.50, but seems like a very
good decision right now. Essentially, everything I converted into gold and silver bullion has been acting like an excellent interest-bearing above-inflation savings account. A true holder of value. I'm still investing in stocks, almost completely natural resource companies and mining interests in the hopes of gaining growth income from leverage on precious metals. The bullion is the savings account, though.
The silver manipulation is almost over!
For decades now, the largest corporate end-users of silver have manipulated the silver markets. They've been shorting the silver market to the tune of tens of thousands of silver contacts which has successfully kept the silver price artificially low.
They are fast loosing their (illegal) grip, and the silver market is about to POP to the upside in a big way. When this happens there will be some very big names come to light, who will run to the government for a bailout. We are talking about billions in losses.
Remember, the gold and silver ratio during the gold standard was 20 to 1. That is a one once gold coin was know as the $20 gold piece, and one ounce of silver was known as the silver dollar. That’s a 20 to 1 ratio.
With gold at $980.00 an ounce, silver should be trading @ $49.00 per ounce as we speak.
hjschaapman
The Winds of Change!
I think it was Jim Sinclair who outlined how it is the
Chinese who have manipulated the silver price downward. They are the largest holders of silver bullion and were on a silver standard until sometime in the 20th century. They stopped only because Britain was screwing them, getting silver for debt notes or something like that. I don't recall the details, but it's the Chinese behind the market manipulations.
As I recall...
I remember reading somewhere (wish I had a link for you all) that historically, the silver to gold ratio is normally 16 to 1. When I first started looking into gold and silver, the ratio was at 57 to 1. Silver's recent gains have made ratio 49 to 1.
Back in the 70's when the price of gold was shooting up, silver also started to rise. By the time gold hit $850/oz., silver was close to $50/oz. This made the silver to gold ratio 16:1.
It's possible that there is much room for silver to go up, making it an investment as well as a store of value.
Although
Fortune Favors the Bold
speculation could be driving it up a bit
Fortune Favors the Bold
you bet, that's happening as well...
lots of hedge fund monies will start going into precious metals and other commodities as they have to put dollars somewhere. Bonds and stocks are doing horribly, so what do countries with huge dollar surpluses do with that stuff. The speculation will drive these prices higher and higher.
Geez, what is going on...
it just rocked up to $20.14, up 33 cents on the session. Silver just sat around $15 for so long, seems like out of nowhere it keeps blasting upwards, faster than gold percentage-wise.
I think the world
is waking up. Fiat money is doomed, but precious metals will be around forever. I started really listening to Ron Paul, and I will tell you, I sure am glad my husband and I invested last year. I believe Silver will be up to $25.00 an ounce after the Fed lowers the rates again here within the next week or so. I also believe Silver will be at, or around $30.00 by April 15th.