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Poor man's gold...
cladking
Posts: 28,367 ✭✭✭✭✭
This is a point Butler and his mentor Izzy came up with and it's just about the
right time to remind people. There's less silver than gold in the world and a whole
lot more poor people than rich people. If silver is going to have any success if the
manipulation is ever broken it will feed on itself because there are so many poor
people. Most people in the world can set aside a little silver but many could lose
all the gold they can afford between the stitches in their pockets.
Gold is and will long remain the best insurance against calamity. Silver may be the
finest investment in the ingenuity and genius of man.
Rememeber too I warned you long ago that there was strong resistance at $14
and a little more at $18 as well as a smidgeon at $24. It's going to take a couple
tries to get beyond $24 but then it's smooth sailing except for a minor psychological
barrier at $50 and another at $64. There should be none after that if supply and
demand wants to push it higher. The shorts will be done for very soon. Their pyra-
mid scheme will crash about their ears and the government will have to sweep up
the pieces.
right time to remind people. There's less silver than gold in the world and a whole
lot more poor people than rich people. If silver is going to have any success if the
manipulation is ever broken it will feed on itself because there are so many poor
people. Most people in the world can set aside a little silver but many could lose
all the gold they can afford between the stitches in their pockets.
Gold is and will long remain the best insurance against calamity. Silver may be the
finest investment in the ingenuity and genius of man.
Rememeber too I warned you long ago that there was strong resistance at $14
and a little more at $18 as well as a smidgeon at $24. It's going to take a couple
tries to get beyond $24 but then it's smooth sailing except for a minor psychological
barrier at $50 and another at $64. There should be none after that if supply and
demand wants to push it higher. The shorts will be done for very soon. Their pyra-
mid scheme will crash about their ears and the government will have to sweep up
the pieces.
Tempus fugit.
0
Comments
I have heard that twice a year, every year, for fifteen years.
But hey, I am ALL FOR IT
Loves me some shiny!
Are they really this stupid, or are they destroying the dollar on purpose?
<< <i>The shorts will be done for very soon. Their pyramid scheme will crash about their ears and the government will have to sweep up the pieces.
I have heard that twice a year, every year, for fifteen years.
But hey, I am ALL FOR IT
They're already beaten and bloodied and have obviously lost control of the
market. Barring outside interference or change in trends it appears they are
on the verge of capitulation. Their losses already stand in the billions and
the massive manipulation necessary to regain control would be glaringly ob-
vious at a time everyone is watching. Even if QE 2 doesn't come off the trend
will remain in place causing more damage to the shorts.
This isn't to say they have already given in merely they've never had to deal
with these specific conditions and prices before and they appear to be on the
brink.
. . . Because I'm so damn POOR ! ! !
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
<< <i>More gold than silver in existence? Got a link to the numbers? >>
This is just counting what's actually available and believed stockpiles.
Gold is estimated at some 4 1/2 billion ounces of which more than half
is presumably in government control. There is much less usable silver
and no stockpiles. Most silver is actually in the form of obsolete US coin
but this amounts to only some 2 1/2 billion ounces. 700 million ounces
is mined annually and all this plus a bit more is usually consumed.
Silver demand has been increasing for many years and we're probably
at the base of a geometric increase.
The world has produced massive amounts of silver for thousands of years
and it has mostly been consumed; much of it in the last 140 years. Gold
is not consumed or lost in any meaningful quantity. 98% of what pharoah
produced is still around.
The Vatican will not be selling their gold jewels or the US selling any of their gold reserves.
In silver eagles alone there has to be about a 200 million ounces ... add all the libertads , maples , and australian coins.
they still mine close to a billion ounces a year. ( new mines + recycling )
Anyone know how many ounces does the silver ETF have by now ?
Groucho Marx
How much could they get out of the ground at $30/oz?
under "gold bullion" you can see India , Germany , the Swiss etc and the US ranks about #6
under "silver bullion" there is the US first and then after a huge gap ...a few other countries.
Not sure what to make of it ...The US seems to have an attraction to silver that its not shared around the globe with the same conviction.
Silver has a great story ...but it gets old.
anyone knows who said this? "great fortunes will be made in silver but they will be preserved in gold"
Groucho Marx
<< <i>At $10/oz they were mining 600,000 ounces/yr.
How much could they get out of the ground at $30/oz?
Silver production is primarily dependent on copper, gold, and zinc production which
are primarily dependent on prices of these metals. Of course silver production will
increase at higher prices but not sharply.
<< <i>
Anyone know how many ounces does the silver ETF have by now ? >>
I believe it's around 180 million ounces.
<< <i>
<< <i>
Anyone know how many ounces does the silver ETF have by now ? >>
I believe it's around 180 million ounces. >>
link
324 million troy ounces
<< <i>
<< <i>
<< <i>
Anyone know how many ounces does the silver ETF have by now ? >>
I believe it's around 180 million ounces. >>
link
324 million troy ounces >>
Wow! Thanks.
This alone could be a large factor in silver's recent ascent.
own as the poor man's gold. The shorts are wounded and even the FED is on
the side of higher prices.
This looks like it might be a spark about to land on a mountain sized pile of gun powder.
Yogi Berra
<< <i>26.25 and I'm still buying
As am I. I thought I was going to have to sell some to free up some cash. Went to the SDB to take some pictures for the BST thread... found some cash I didnt remember putting there... hahaha.
Not selling anymore, and will be buying again in a day or so.