A major financial crisis has begun

goingbroke

"I really do think we'll have a huge correction, particularly in the silver market. I'm a major silver bull, and I believe silver is inherently worth $120 an ounce already and it's going higher. But markets just don't go straight up the way silver has in the last couple of months. So I'm concerned that my subscribers may think that we can buy agriculture and energy with impunity and that we can buy as much silver and leverage it as much as we want without getting destroyed by the market volatility, just because we're in the middle of an inflationary crisis. I think we're going to see some of that volatility next year. I don't have a crystal ball, but it seems as if there needs to be a shakeout in the market because the investors have gotten so bullish on these ideas about sound money and energy and agriculture."
Silver, for example, has gone from let's say $15 an ounce to almost $30 an ounce just in the last six months. Buying a commodity after it's doubled in six months is probably not such a good idea

jmski52

I agree. Volatility isn't just theoretical. It's real and it can be damaging. Just know what you are doing when you do it.

Meltdown

Interesting article. I just signed up for their newletter email alerts.
Does anyone here have any thoughts on their information, accuracy, etc. - good or bad?

Any other suggested reading sites I can bookmark?

Thank you.

Justacommeman

Brian, I strongly advise you not to sign up for that newsletter. Please trust me. MJ

tresgatos

I wonder under which scenarios the US could "influence the price of gold negatively in a very severe way."

Meltdown

<< <i>Brian, I strongly advise you not to sign up for that newsletter. Please trust me. MJ >>



OK. Thankfully I have not yet done it... care to elaborate? Do they spam or send out your email?

Any other suggested sites with a similar interest?

Justacommeman

pm sent

MJ

DrBuster

Let it drop back to $15, I'll still be buying, and would buy more.

ANACONDA

Yes, I agree...even if silver is headed towards 120 there are many people who own it but are in such high profits that they do not hold it strongly.

johnny9434

<< <i>Let it drop back to $15, I'll still be buying, and would buy more. >>



im right there with ya

InYHWHWeTrust

<< <i>

<< <i>Let it drop back to $15, I'll still be buying, and would buy more. >>



im right there with ya >>



Amen, brothers.

pf70collector

I haven't been buying silver this high. Only silver I bought were 20 ounces of the 2010 ASE Proof and hopefully the ATB Pucks. That is my extent for my sliver purchases for this year. I bought most of my silver in 04 and 05. Some in 07.

derryb

Silver's extreme volatility can be your friend. Use it carefully and wisely to your advantage. On days when you are wrong just double up on the next "right" decision.

percyb

The price of silver has doubled in $$ terms. No one is buying a commodity that has doubled. Silver costs more because the $$ is worth less (almost worthless). This guy needs to reexamine his premise.

jmski52

One way that I like to add to my stack of silver when bullion prices are high is to buy rolls of Proof silver - premiums are not too high at these prices, supply is abundant because some folks are cashing out of the common silver proofs, both older and newer issues.

DNADave

<< <i>One way that I like to add to my stack of silver when bullion prices are high is to buy rolls of Proof silver - premiums are not too high at these prices, supply is abundant because some folks are cashing out of the common silver proofs, both older and newer issues. >>




I stopped by my local store and picked up a 2003 Silver Proof Set for 29.63 and noticed they had common Morgans/Peace for $21 plus 6% sales tax. I may convert some more cash tomorrow if they're not snapped up.