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WHOA! Metals got hammered today! Silver down 17%
Submitted by rftbunny on Fri, 10/10/2008 - 14:44
WHOA !!! What is going on silver is down 17% today and gold is down 65 dollars » |
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according to this silver did
according to this silver did not get hammered today! only fake paper silver got hammered.. you must understand the difference. http://www.seekbullion.com/auction_details.php?name=100-oz-E...
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Silver is creeping back up
Silver is creeping back up and the silver:gold ratio is improving as well.
...
The markets are insane right now
It isn't just gold and silver that are being hammered. In addition to banks and insurance companies with questionable balance sheets, nearly every single stock is being tossed into the gutter right now, even for perfectly sound companies. I own shares now in companies with P/E ratios less than 4, and priced from 90% to 40% of book value. In a year people will very much regret having sold at such low values, to get into, of all things, the U.S. dollar. Which would you rather have -- shares in an oil refiner that has been profitable all year, despite the very high cost of petroleum (an input to a refiner), that is now selling for less than it cost to build its refineries (which you can't build any more of in America, because nobody wants to live within 10 miles downwind of a refinery), or federal reserve notes that are guaranteed to lose their purchasing power as the government creates a couple of trillion more dollars to pay for the bailouts?
cool .. now i wish i could
cool .. now i wish i could find some physical silver for that price locally =]
From my gold broker:
Gold went down because investors were selling gold to cover losses in equities. We see this all the time and it is short term. Great day to be a buyer.
my 401k is ALL gold...
now it is, anyway...at the closing price of today i switched my last holdout, the remainder of my latin american stocks, over to gold...i mean, where else are you gonna put your paper stock money?
today, it was lucky for me to get over there...i hope it goes back up to where it was at the end of last year
O Captain, My Captain, rise up and hear the bells!
its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
the hedge funds are selling
the hedge funds are selling off paper to cover margin calls! the physical market for both silver and gold is still the same!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Plus the margin calls by JPMorgan, et al
Caused the market AND the PM's to go down.
JPMorgan felt it was time to reap a little profit.
there is a huge hedge
there is a huge hedge fund/funds blow out of postitons due to margin calls! hold tight it will go up with a vengeance here soon!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Metals got hammered...what a
Metals got hammered...what a great pun. This is completely fake, but hey, it gives you a better opportunity to buy at an even better price before it goes up ten times. The US dollar's recent strengthening is fake. It is probably controlled by the fed's open market committee. Just like they did in August and September, knowing that the crash was coming. They can't keep this up forever. When our government officially goes broke, next year, these metals will be worth lots more and you'll be very happy. So store up now!
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lol i know this .. i just
lol i know this .. i just cant find any metals locally and monex is all sold out of silver
Like Peter Schiff said
Peter Schiff recently said. " The dollar is doing a head fake in the other direction..." He emphasised its wise to stay in metal. I also wrote to Lew Rockwell the other day and he said the same thing. "Find some Gold, fiat won't last"
For Freedom!
For Freedom!
STUGOTS! To the high and felutent establishment!
Paultian Powerhouse!
DAMN! I want to go out and
DAMN!
I want to go out and buy all the silver I can find... if I could actually get it at that price.
only spot or paper silver
only spot or paper silver took a beating.. Physical silver did not!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
You've got that right!
Local dealer finally got some 90% in (was all out earlier this week), but he wants over 12 times face for it. Works out to over $16 per ounce.
A great opportunity
This is an excellent time to buy. Look locally at coin shops. 90% junk silver will probably be your best buy with the lowest premium right now. Precious metals are the only real money as they have held value throughout civilization.
local coin shops are being
local coin shops are being retarded and trying to sell silver eagles at like 19 dollars an ounce
retarded?? if there is no
retarded?? if there is no supply prices go up... the spot price and physical price are 2 different things now!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
well .. not retarded .. by
well .. not retarded .. by that i meant charging way too much over spot ... i saw some people selling for 17 bucks not 19 an ounce ... that guy is a rip off though .. i know him .. he charges way more
One option (albeit risky) is buy the "SLV" ETF while it's cheap
And then when the price goes back up on paper silver (if it does) and physical silver becomes available, you can sell the ETF and buy the coins.
There ARE downsides -- having to pay income tax on the short term gains, and then whatever the premium is on the coins at the time (probably less than now).
And there *is* always risk associated with ETF's -- although on it's behalf, it looks like the iShares "SLV" is *actually* buying serialized silver ingots.
ive been waiting for this
ive been waiting for this drop all week actually. it makes sense that it didnt happen amidst what people would consider a state of panic for investors, many flocking to metals, but yeah, theyre a speculative commodity just like oil. many people forecast crude to drop back into the 50-70 dollar range before it settles. given the historic tie in with gold and oil, i wouldnt be buying gold just quite yet.
i have my eye on another metal, neither silver nor gold (though iw ould argue if you were snatching up metals, silver would be my metal of choice over gold any day of the week).
I think there is too much attention paid to the stock market.
Buy, sell and invest locally.
There is a better way, every body just needs to take all their money out of the bank, stock market and government T-bills. Then go buy food, supplies, silver and gold. Use the silver and gold to start local businesses and trade. Invest in your local communities and don't lend money to anyone unless you know where they live and can look them in the eye. This is how it was done when the Constitution was written.
grant
You are right
'small is beautiful'.
Freedom brings People together
Ron Paul was right
I think there is too much attention paid to the stock market.
Buy, sell and invest locally.
There is a better way, every body just needs to take all their money out of the bank, stock market and government T-bills. Then go buy food, supplies, silver and gold. Use the silver and gold to start local businesses and trade. Invest in your local communities and don't lend money to anyone unless you know where they live and can look them in the eye. This is how it was done when the Constitution was written.
grant
Deflation. Dollar up,
Deflation. Dollar up, commodities go down. Von Mises talks about the crack up boom, which may be delfation followed by hyperinflation.
That's just my guess and my hope since I am not buying gold. I'm all cash.
Why is that your hope? Or,
Why is that your hope? Or, rather, are you waiting for a point to jump in before going on the hyperinflation ride?
...
Prop
They're propping up the dollar. Word has it we are in deflation. Prices will go down on most things. But gold & silver are real money. I'd keep a % in cash & metals. Cash will be king. Then gold & silver.
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
Oil is down
Seems to me, oil and metals go together. Albuquerque has $2.85 gasoline. I saw $2.99 one place in Houston.
well yeah oil is down and
well yeah oil is down and the dollar is up ... but man .. the stock markets dropped about 3,000 points in the last 2 weeks ... shouldn't metals have resumed or at least stabilized?
any comments? i own a big
any comments? i own a big amount of silver ... holy mama ... i know all about this kind of stuff so no im not a new comer to the market .. i've never seen such a steep drop before? any suggestions?