Silver breaks a barrier
Cladiator
Posts: 18,160 ✭✭✭✭✭
Anyone else notice that silver broke the 8$ per ounce mark today? Will be interesting to see if it closes over 8$.
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There is always a traditional drop before the Christmas Holidays as profit takers sell off.
It will have to break through $8 several times before we can look to that as a solid floor.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Silver still has legs, but I'd expect it to finish the year below $8.
>>
If it goes back to $7.50ish or lower, I'll be buying with both fists. I'm looking for $10+ in '06.
<< <i>
<< <i>Silver still has legs, but I'd expect it to finish the year below $8.
>>
If it goes back to $7.50ish or lower, I'll be buying with both fists. I'm looking for $10+ in '06. >>
You might be hoping for a bit too much there. We've established a solid floor of around $7.60, if it drops to there, it won't be for long.
My long term projections back in '01 when I started investing heavily in silver bullion was that the third or fourth quarter of '06 was when the dam broke.
The Fed is going to get involved somehow and do their best to keep PMs down for as long as possible. I'm sure you're going to see your $10+ but it might just be a bit longer than I had originally thought. Still, I have no intention of dumping at $10 or even $11. I see silver at around $8.30 in mid 2006 and probably a solid floor of $8.50 a year from now.
The real spike is going to be much higher. I had no idea that we were going to try to print so much money from thin air at such an alarming rate. I'm beginning to think longer term now for the top of the curve. Perhaps more like '08 to '09, by that time many people will have sold out thinking we were at the top. I suspect the real top is going to be more in the $30-$40 range, but I think you're going to have to wait several more years. Inflation may be a big part of that rise, but silver is as good a place as any to put your money to ride out the storm.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>I'm sure you're going to see your $10+ but it might just be a bit longer than I had originally thought. Still, I have no intention of dumping at $10 or even $11. I see silver at around $8.30 in mid 2006 and probably a solid floor of $8.50 a year from now.
>>
That's fine if it back and fills all through next year. I'd rather see a gradual rise than a parabolic spike.
A consolidation period just means more time to accumulate at lower prices in an obvious bull market.
The disconnect. I usually do not talk about talk shows, but today is an exception as I did not understand what happened. I listen to some talk shows (back and forth) on my ride back from work. I guess Roger Hitchcok was subbing for Rush Limbaugh. I listen to both conservative and liberal talk shows just so that I am not trying to bash someone.
So Roger was basically telling people that the economy is doing fantastic, inflation is actually coming down and it is at 2.9%, jobs are getting created everywhere, unemployment claims were only 30000 last month and then he blasted republican controlled congress for being fiscally irresponsible and printing money like there was no tomorrow.
This leads me to think that there are people who really know how our country is heading to a catastrophe and yet to prevent any mass hysteria keep trumpetting that everything is great.....
<< <i>The disconnect. I usually do not talk about talk shows, but today is an exception as I did not understand what happened. I listen to some talk shows (back and forth) on my ride back from work. I guess Roger Hitchcok was subbing for Rush Limbaugh. I listen to both conservative and liberal talk shows just so that I am not trying to bash someone.
So Roger was basically telling people that the economy is doing fantastic, inflation is actually coming down and it is at 2.9%, jobs are getting created everywhere, unemployment claims were only 30000 last month and then he blasted republican controlled congress for being fiscally irresponsible and printing money like there was no tomorrow.
This leads me to think that there are people who really know how our country is heading to a catastrophe and yet to prevent any mass hysteria keep trumpetting that everything is great..... >>
Yep! Totally agree. I heard a fiancial advisor the other night on a radio interview who said that, from a financial standpoint, we were exactly where Germany was in the late 20s.
It's easier to pay off the deficit if you just print paper to do it. The subjects, err, the revenue enhancers, err, the citizens can just deal with it and learn that the minimum wage is now $15 an hour and bread cost $5 a loaf.
Folks on fixed incomes and retired people can just be turned out to pasture, once they've spent their worthless savings they can look to the government for substandard housing and handouts.
It's a pretty ugly picture developing right before our eyes, but it's also a ripe environment for continued wars all over the world. There's profit to be made there.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
This appeared in the Sunday Omaha World Herald, dated November 13, 2005, with an attribution to Dow Jones News. After reading the article, it definitely left a few questions in my mind....
"NEW YORK - As inflation fears grow, some advisers are steering their clients into precious or industrial metals as a way to add luster to portfolios.
Pinpointing the right vehicle in the world of metals investing isn't easy. But as demand has increased for hard assets to offset rising inflation, more products are croppping up to tempt even small investors into metal.
Barclays Global Investors, for instance, is planning to launch a new exchange-traded fund tracking silver called iShares Silver Trust, a cousin to two gold ETF funds already trading. The firm filed a registration statement with the Securities and Exchange Commission in June for the new product, but wouldn't comment on a timeline for its launch.
The planned silver ETF captured some attention last month, when a nonprofit U.S. silver industry group urged the SEC to reject the fund because it could buy up enough silver to make the metal too expensive or illiquid. That future demand for silver also could make a silver ETF attractive to investors."
Has anyone else heard much about this?? Any idea who the "nonprofit U.S. silver industry group" could be?? (perhaps part of the cartel that has controlled the price of silver for the past 10years? and are making a desperate attempt to keep the lid on the price??)
make the explosion more powerfull. Demand continues to grow exponentially while sup-
plies shrink.
It may be many years since above ground supplies are adequate for current demand, but
it seems unlikely that there will be no reaction until there is no longer enough metal to fill
factory orders.
I've heard of a few things in the pipeline, but nothing specific. The one consistent factor is that silver is involved and we all know usage has exceeded production for years.
The big problem remains the leasing issue and the selling of paper silver. There's probably several hundred, if not thousands of times more silver owned on paper than actually exists in the world.
This fraud is the only thing holding the house of cards together. The same holds true for gold but to a lesser extent.
When the lid finally blows, silver will be a much better investment, percentage-wise, than any other metal. The only question is how long can it be suppressed.
I suspect the explosion is further away than many investors/speculators think but a hell of a lot closer than those running the scam think they can continue it. In the meantime, we are going to see a continued climb with the usual ups and downs along the way. The last few years have seen close to a dollar a year per ounce climb, I don't think it's out of line to expect that to continue for the next couple of years. After that, who knows? World events have a way of moving swiftly.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Maybe those "shorting" silver on paper are backing the project?
Liberty: Parent of Science & Industry
A rocket ship? Nonsense. They're going to grow silver in the lab, like diamonds.
Moving an asteroid into Earth orbit woun't take nearly so much energy as you might think.
Martian water could be cracked and used for fuel for this process though it would take a
large effort.
One major problem might be that there should be very little heavy metal in the asteroid belt.
Most of the densest elements are in the inner planets. Venus might present a more promi-
sing source for precious metals but we'll probably be out of silver before the first ounce ar-
rives.
Nice gun pictured in your thead.
Chinese SKS. Good guns!