Is this kind of rising metal prices really what you want?
piecesofme
Posts: 6,669 ✭✭✭
Think about it for just a minute before you answer, or would you rather have Ag at half of what it is and food & fuel costs would be at a more acceptable level?
I really think we need to be careful what we're rooting for here at this point.
I really think we need to be careful what we're rooting for here at this point.
To forgive is to free a prisoner, and to discover that prisoner was you.
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<< <i>Think about it for just a minute before you answer, or would you rather have Ag at half of what it is and food & fuel costs would be at a more acceptable level?
I really think we need to be careful what we're rooting for here at this point. >>
It depends on how each person has prepared. I am fully prepared and betting on this, so yes, this is what I want, although I realize it will be harmful for a lot of people. I don't like that a lot of people will struggle with high prices, but what can I do about it?
Loves me some shiny!
In the meantime our country has become an Empire. I'm trying to deal with it. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fred, Las Vegas, NV
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'd rather have PM-backed money, so we wouldn't be having this conversation.
My Adolph A. Weinman signature
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
to lived in an America similar to that in which my parents lived. I fear this will not happen.
On a side note this run in metals is also interferring with my ability to buy coins locally. Most of the dealers here have stopped filling there diplay cases and are focusing strictly on
bullion buying an selling. One dealer I have worked with for years (he actually got me into collecting), informed me this week that it probably will not be worth my while to come
back until this bullion craze is over. He said coins will wait, but the profits from this run will not.
Me being a local B & M dealer, its all about bullion now. The shop trays of collector coins are pratically empty, most of it has been sold off, and little in the way of it coming in, and when it does, most goes to e-bay/ other show dealers. Nobody wants to buy it (collector stuff) locally, yet several people come in an complain becuase the trays are empty. Thing is they dont want to buy it either, they just want to look at it. but I am not running a museum. Why stock non-selling stuff. I love collector coins, and really nice coins and hate to concentrate on the silver /gold, but have to go with what people want/need to sell. Its a pure shame but from a financial aspect, I would much rather see somebody walk in with a bag of scrap gold, sterling flatware or silver then a collection of bust halves, lincoln cents, buffalo nickels, etc. Have to make the money while its there. The one benefit I see down the road, is at some point I will be able to afford all the things I wanted to buy earlier in my collecting career as business is so strong , money is being made at a fast pace. I lost my job back in dec 08 due to the down turn, and at this point I am so far ahead financially then I have ever been in my life thanks to the coin mainly bullion business.
Jim
<< <i>I believe we would all love to see this horrible sh$& pile go away with no inflation. But here is a little reality this and world peace are not coming any time soon. So i for one have been trying to prepare for the worse and continue to pray for the best. >>
If inflation did not exist.....and it did not for the vast majority of this nation's history......I probably wouldnt own 1/50th of the metal I own.
You are right on MJ, as is typical of your clear and rational thought process that has little to do with market sentimentality or fantasy, just what is.
Miles
<< <i><< Is this kind of rising metal prices really what you want? >>
I'd rather have PM-backed money, so we wouldn't be having this conversation. >>
Exactly
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Do I have anything to say about it? Like MJ, I'm not about to ignore what I see coming down and I'm doing my best to stay out of their way.
I really think we need to be careful what we're rooting for here at this point.
I'm rooting for the time when you could get yourself educated, work & get paid, and then save for the future. What we have now isn't that. I don't know exactly what we've got now, but it isn't that.
It depends on how each person has prepared. I am fully prepared and betting on this, so yes, this is what I want, although I realize it will be harmful for a lot of people. I don't like that a lot of people will struggle with high prices, but what can I do about it?
I'm not even sure that being prepared is a winner. You will now be considered one of the elitist rich capitalist scrooges, never mind that you worked hard to earn it and even harder to keep it.
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Congrats Jim! I see the same issue with my B&M dealer; he frets over having so much silver in his safe; yet, loves the bling!
You are right on MJ, as is typical of your clear and rational thought process that has little to do with market sentimentality or fantasy, just what is.
Miles >>
Totally agree. We can root all we want, it makes no difference in the scheme of things. We're just single grains of sands on a beach.
All we can do is react to the hand being dealt and try to handle it the best way we can. Everything else is just noise.
Silver is just playing catchup to gold which first broke out to new highs in 2009. Silver had to wait a whole year longer. The other metals are moping along just
like gold is. Slow and steady. Silver is the abberation. But it's not going away until gold and the other metals do. And right now there is no sign of gold slowing
down in the short term. Look at what some of the grains and softs did over the past 9 months. I don't see anyone complaining vociferously that they can't do that.
roadrunner
I think platinum is the aberration, sitting 20% below its March 2008 high of $2273.
My Adolph A. Weinman signature
to the financial masters of the world. The Congress is dysfunctional,
the Supreme Court has been politicized and the Presidential branch
appears to be an office up for sale where the power structure always
seems to get the person it wants. Our protective laws have been
stripped and watered down, our military has been abused in wars not
in the best interests or strategic interests of the Nation and our wealth
has been squandered in unwise taxing structures and excessive spending.
We the People voted for all of these elected officials and due to our weakness
to believe 30 second sound bites and biased news reporting and hidden money
pulling the political strings, we got the Government our lack of interest and commitment
deserve.
What is left for the people, is to salvage what ever is left thru PMs and rare coins. All else
seems to be subject to powerful interest manipulation, weak enforcement and rigged systems.
Camelot
Remember what was driving platinum back then. In the pre-financial meltdown world of milquetoast and no worries, platinum was rocketing upwards because of the electrical problems and brownouts in SA that were impeding the mining operations because of the need for ventilation and cooling water in the very deep mines.
That peak may have been an aberration, but in my opinion the situation on the ground needs more scrutiny because it's very possible we can have another electical infrastructure issue, a deep mine issue, a market shortage, or even an uptick in demand. If/when the real economy starts back up, the platinum supply issues (if any) will become critical. Until then, we are coasting and it's probably a good idea to accumulate.
I knew it would happen.
<< <i>Think about it for just a minute before you answer, or would you rather have Ag at half of what it is and food & fuel costs would be at a more acceptable level? >>
Silver as fuel....
<< <i>I really think we need to be careful what we're rooting for here at this point. >>
I'm no fan of bubbles.
The aftermath is always ugly.
This is a bubble.
<< <i>
<< <i>I really think we need to be careful what we're rooting for here at this point. >>
I'm no fan of bubbles.
The aftermath is always ugly.
This is a bubble. >>
You are right...the dollar IS in the middle of a bursting bubble!
<< <i>What is left for the people, is to salvage what ever is left thru PMs and rare coins. All else
seems to be subject to powerful interest manipulation, weak enforcement and rigged systems. >>
What makes you think the PMs are not subject to powerful interest manipulation, coupled with weak enforcement and rigged systems.
I was watching CNBC maybe a couple of months ago and some miner CEO said the cost of mining their gold had risen now to $9X0 ($950?) per ounce. Maria said, "boy that sure puts a floor under gold."
Who's counting the silver mined and used globablly? Those selling it. It's fox-henhouse.
Who trades the securities based on the PMs? The same big financial guys that pushed those "safe" subprime MBS', and derivatives where even the people selling didn't adequately understand their risks. They're in it for the money and will rubber stamp any profit. How confident am I in the market's future? Not very.
And these guys have more money than we do. If they want the market to move, they can make it move their way.
Who knows, maybe once the bubble burst and pessimism prevails again, the "super short" returns to keep people spooked. Maybe it happens, maybe it doesn't. But I know I don't trust them such that I believe it could happen.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
<< <i>
<< <i>I really think we need to be careful what we're rooting for here at this point. >>
I'm no fan of bubbles.
The aftermath is always ugly.
This is a bubble. >>
You are right...the dollar IS in the middle of a bursting bubble!
It's got a long way before popping and the PMs have been doing more moving than it has.
I remember 2:1 Pound-Dollar exchange rates and 1.6:1 Euro-Dollar exchange rates only a few years ago.
<< <i>Ms M that is paralysis by analysis .................it doesn't work for me. MJ >>
To make a long post short.
In Gold We Trust.
In Gold Markets I Do Not.
<< <i>
<< <i>What is left for the people, is to salvage what ever is left thru PMs and rare coins. All else
seems to be subject to powerful interest manipulation, weak enforcement and rigged systems. >>
What makes you think the PMs are not subject to powerful interest manipulation, coupled with weak enforcement and rigged systems.
I was watching CNBC maybe a couple of months ago and some miner CEO said the cost of mining their gold had risen now to $9X0 ($950?) per ounce. Maria said, "boy that sure puts a floor under gold."
Who's counting the silver mined and used globablly? Those selling it. It's fox-henhouse.
Who trades the securities based on the PMs? The same big financial guys that pushed those "safe" subprime MBS', and derivatives where even the people selling didn't adequately understand their risks. They're in it for the money and will rubber stamp any profit. How confident am I in the market's future? Not very.
And these guys have more money than we do. If they want the market to move, they can make it move their way.
Who knows, maybe once the bubble burst and pessimism prevails again, the "super short" returns to keep people spooked. Maybe it happens, maybe it doesn't. But I know I don't trust them such that I believe it could happen. >>
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>hyperinflation would be the average joe's saving grace, which is why it won't happen. Being able to just wipe the debt clean and start anew. >>
It might be the nation's saving grace via printing money to pay the debt.
I'm not sure about the average Joe. The Joe's owe about 2.4 trillion and can't print money (legally).
The way silver is behaving now is disconcerting. It's neither fish nor fowl. It won't soar
and it won't fluctuate sideways trending up or down.
I don't like it Sam I am.
arrived, until the bottom has fallen out. Those whose average silver price
is in the 20s and low 30s probably have nothing to fear even if there is a
severe retreat in silver prices. However, late comers to the party who have
paid high 30s to 40s in price ,face increasing risk of losses as the price of
silver continues to climb.
There are two kinds of silver stackers. One is in for a profit and that profit taking may
be very near at hand. The second , are the pe9ple that , regardless of price or profit,
have determined that a portion of ones assets belong in precious metals as a long
term hedge against the continuing loss in the value of the dollar. To this group,periodic ups
and downs in prices does not hold any significant meaning compared to the long term
objective of preserving the value of wealth well into the future.
,
Camelot
<< <i>I was watching CNBC maybe a couple of months ago and some miner CEO said the cost of mining their gold had risen now to $9X0 ($950?) per ounce. Maria said, "boy that sure puts a floor under gold." >>
Remember that for gold the above ground supply is more important than what the mines are producing annually.