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24hr Provident Sale - Silver Eagles, Any Amount $2.39 Over Spot
sebrown
Posts: 424 ✭
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
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Knowledge is the enemy of fear
<< <i>Werent these like $5 over spot? So not only is the spot price dropping but also the premium. Stackers are getting crushed. >>
they already made a boatload on their shorts/hedge, so now they got to get all the $$$ back by dumping their inventory...
<< <i>
<< <i>Werent these like $5 over spot? So not only is the spot price dropping but also the premium. Stackers are getting crushed. >>
they already made a boatload on their shorts/hedge, so now they got to get all the $$$ back by dumping their inventory... >>
Im not really concerned with the wholesalers, but rather J6P who thinks he is "stacking", ie, saving his paper money in the form of silver.
Knowledge is the enemy of fear
What is it now, about half the country is living hand-to-mouth, and a fairly high % of Americans have less than $10,000 saved for retirement. The $85 Billion a month is intended to drive people out of traditionally "low-risk" assets and back into the stock market. Right now, it's all about the stock market.
If you sit back and objectively assess the disastrous job that they've done in "managing the economy" for the past 10 years, why on God's Green Earth would anyone put their trust or money into the very things that the government is herding you into?
I'll take my "hit" in nominal dollars and keep the real stuff. Thanks, though.
I knew it would happen.
<< <i>Im not really concerned with the wholesalers, but rather J6P who thinks he is "stacking", ie, saving his paper money in the form of silver.
What is it now, about half the country is living hand-to-mouth, and a fairly high % of Americans have less than $10,000 saved for retirement. The $85 Billion a month is intended to drive people out of traditionally "low-risk" assets and back into the stock market. Right now, it's all about the stock market.
If you sit back and objectively assess the disastrous job that they've done in "managing the economy" for the past 10 years, why on God's Green Earth would anyone put their trust or money into the very things that the government is herding you into?
I'll take my "hit" in nominal dollars and keep the real stuff. Thanks, though.
Paper dollars or silver dollars--all the same. Both can lose purchasing or exchange value. And both can be devalued.
Knowledge is the enemy of fear
The point is, I don't get to choose the timing, but I do get to choose what I think is least likely to do me wrong in the overall scheme of things.
Apple down 1.8% today, where's all that $85 billion going this month? If the dollar is doing so well @ $85 billion/month, why not make it $170 billion/month? Let's have a party.
I knew it would happen.
<< <i>Did you sell your house when the housing market was under pressure?
The point is, I don't get to choose the timing, but I do get to choose what I think is least likely to do me wrong in the overall scheme of things.
Apple down 1.8% today, where's all that $85 billion going this month? If the dollar is doing so well @ $85 billion/month, why not make it $170 billion/month? Let's have a party. >>
You're sounding emotional. Think of why the dollar is strong(er).
And why is gold so sensitive to the dollar? Shouldnt it trade more on its own value, expectations, fundamentals. That seems to be its Achilles heel--the very thing that makes it "worthy". Interesting, no?
Dont give me an argument that gold is sensitive to the dollar because it is priced in dollars--so is oil. I would think that if gold is the ultimate currency, then it should control the value of the dollar, not visa versa.
Knowledge is the enemy of fear
Gold is money in the midst of a currency war. It will take hits as whatever currency it is measured in gains ground. Dollar is currently strong because the euro is taking a beating. American jobs suffer from this (exports). FED says its focus is on US jobs. We'll soon see if that is true. Keep an eye on the dollar index.
Give Me Liberty or Give Me Debt
I don't know - it is all educated guess-work based on an analysis of the past characteristics of markets and fundamentals and an analysis of the present day markets and fundamentals. I think the individual has to do what they feel most comfortable with. Having experienced the lost decade in real terms, I'm most comfortable with fewer hands on my assets and a contrarian view. If you're a day trader your purposes are at odds with the long-term holder who does not care a whit about market fluctuations except for the buying opportunities they represent. If you're done buying then you're done buying. I do not doubt that gold and silver will show increased value in the long run (a trillion dollars/year of QE can't, ultimately, be good for the good for the economy or the dollar); my only question is when does one get out from under their holdings and invest in something else. That time is not now, in my opinion. So, $2.39 over spot with spot at $28/oz is a good deal if you're still buying.
–John Adams, 1826
If a person's goal is to have a stash of PM's as an insurance policy against fiat currency then why would they want to nervously watch the market every day and try to jump in and out, isn't this exactly what financial advisors warn people not to do when investing their money???
I understand his routine is to come here and poke fun at us so I will just leave it at that.
Loves me some shiny!
If you were around here longer you would realize that I have often spoken with caution towards equities. In fact I was especially bearish in Spring 2008. My comments are archived in the Econ thread from that time.
Also, you would have seen me write very bullish comments about silver in August 2010, in the trading thread from that time.
My comments are mostly to balance the extreme fanaticism that often permeates this board. There are many miss-truths and outright lies being presented as fact and the newbies on this board, who might be down 20, 30 or even 40% on their so-called "safe investments", need to, at the very least, be presented with an alternate viewpoint. I try to express my views with a high degree of rationale and logic. I ask questions, even when I know the answer, to gain insight into an investors psychology, as I believe psychology is the single most important "fundamental" of any asset class.
There will be a time when I am as much if not more bullish on PMs than even you, but that time is not now.
I have seen emotions destroy ones portfolio, and am always cautious when I sense emotions are controlling ones investment decisions. Unfortunately, PMs conjure extreme emotion, which in my opinion, makes them uniquely risky, which is the exact opposite reason why many people have invested in them. PMs are an intriguing asset class.
Knowledge is the enemy of fear
derryb...you know I respect what you say, but I've got to call you out on that comment. that's a bunch of bs. What's been happening the last 3 months with the euro is my proof. Sure the $ is strong, today, but the euro has been strong and has come farther in it's road to what could be perceived as a recovery. The $ still has quite a ways to go imo.
And why is gold so sensitive to the dollar? Shouldnt it trade more on its own value, expectations, fundamentals. That seems to be its Achilles heel--the very thing that makes it "worthy". Interesting, no?
Dont give me an argument that gold is sensitive to the dollar because it is priced in dollars--so is oil. I would think that if gold is the ultimate currency, then it should control the value of the dollar, not visa versa.
If I'm sounding emotional, it's not because of gold. I simply think that the whole economy is being milked and mismanaged by groups of people who have had their chances and lost, but because they are well-connected, they don't suffer the consequences for their own mismanagement and misbehaviors. Gold is my only solution to the problem, but it's an entirely rational decision for me with almost no emotion involved.
Why is gold sensitive to the dollar? I don't know that it is. Gold is the antithesis of what the dollar has become and is becoming. That doesn't make it good or bad. I don't know that gold is the ultimate currency, but it is a currency. I note that the banks have maintained that it is not a currency when it clearly is. My biggest problem isn't with gold - it's with the concept of a small group of private bankers being able to dilute the savings and earnings power of every other person in the system, at their own whim and with questonable intent.
My comments are mostly to balance the extreme fanaticism that often permeates this board. There are many miss-truths and outright lies being presented as fact and the newbies on this board, who might be down 20, 30 or even 40% on their so-called "safe investments", need to, at the very least, be presented with an alternate viewpoint. I try to express my views with a high degree of rationale and logic. I ask questions, even when I know the answer, to gain insight into an investors psychology, as I believe psychology is the single most important "fundamental" of any asset class.
I hope you don't take my comments as extremist. I made a big score in the 1977-1980 run-up of precious metals, but there has also been a time when I went for 15 years without a significant precious metal component in my portfolio consisting of stocks & bonds and I benefited quite a bit from the pre-2000 tech bubble run-up. I've been a longtime student of Austrian Economics and I do have an MBA in finance. I do have some idea about how finance is supposed to function. If I've presented any mis-truths or lies about precious metals, please correct me because that's never been my intent.
I also believe that psychology is one of the most important aspects to investing. In fact, I agree with most of the things you present and the only differences may be in perspective and how that affects our approach. Your approach is to worry about each move in various markets. My approach is to average-in, and then to average-out, using precious metals as a store of wealth. If you buy and sell as a knee-jerk reaction to different currency or market phenomena, then you are not cost-averaging, period. You can't cost average if you sell out when you should continue to buy.
I don't suffer a bunch of transaction costs and management fees. I know where my money is. I don't worry too much about the banking system It's pretty simple - I trust my own judgement, and in my comments I always try to nudge people in that direction - trusting their own judgement. I'm sure that you feel the same way.
I knew it would happen.
<< <i>Yukon,
If you were around here longer you would realize that I have often spoken with caution towards equities. In fact I was especially bearish in Spring 2008. My comments are archived in the Econ thread from that time.
Also, you would have seen me write very bullish comments about silver in August 2010, in the trading thread from that time.
My comments are mostly to balance the extreme fanaticism that often permeates this board. There are many miss-truths and outright lies being presented as fact and the newbies on this board, who might be down 20, 30 or even 40% on their so-called "safe investments", need to, at the very least, be presented with an alternate viewpoint. I try to express my views with a high degree of rationale and logic. I ask questions, even when I know the answer, to gain insight into an investors psychology, as I believe psychology is the single most important "fundamental" of any asset class.
There will be a time when I am as much if not more bullish on PMs than even you, but that time is not now.
I admit I have come around somewhat to your way of thinking. Have PM's been a great "investment" the past couple of years, I would answer with a resounding NO.
I also do not view the stock market as a great place to put your money as it is way overdue for a sizeable correction, even my financial advisor admit's that and he is normally bullish on equities. Placing money into CD's is not an option as you make virtually nothing after paying taxes on the pittance of interest you get paid. My farmland has skyrocketed in value the past 10 years to the point that I feel it has gotten overpriced and is due for a fairly large pullback UNLESS inflation starts rearing it's ugly head. Which leads me to my holdings of PM's, PM's will ultimately benefit from a surge in inflation or a currency meltdown this is why I don't try to sell and buy it back later at a lower price as it is my insurance policy against fiat currency.
I look at it this way, I could save a bunch of money not buying any insurance if nothing ever happens to my personal property, health or crops however if I suddenly get cancer I will quickly be draining my savings and retirement accounts paying for health care, if my crops get hailed out and I have no insurance I will suffer a finacial setback that will take me many years to try and recoup from, if I choose not to stack any PM's I could save a fair amount of money but would not have a hedge against devalued currency which IMHO would not allow me to rest easy at night. To each his own, we live in a free country and are all free to choose how we wish to spend discretionary funds.
I have seen emotions destroy ones portfolio, and am always cautious when I sense emotions are controlling ones investment decisions. Unfortunately, PMs conjure extreme emotion, which in my opinion, makes them uniquely risky, which is the exact opposite reason why many people have invested in them. PMs are an intriguing asset class.
Yukon, I understand your investment decision making. It is largely based on fear. Fear of illness, fear of inflation, fear of not being able to leave behind a legacy. I get that and appreciate it. People are motivated by many different emotions and all that I suggest is that we all understand what drives our motivation and completely comprehend its strengths and weaknesses.
Knowledge is the enemy of fear
But one thing I can tell you... I have lost a ton more money in stocks (following the general advice that is always out there) than I have EVER lost in gold and silver. For whatever it's worth...
That is really very nice of them to try to get this silver out of their hands and into ours before the price goes way up
Liberty: Parent of Science & Industry
<< <i>24hr Provident Sale - Silver Eagles, Any Amount $2.39 Over Spot
That is really very nice of them to try to get this silver out of their hands and into ours before the price goes way up
Most kind indeed. Thanks for the post, got my order in.
Give Me Liberty or Give Me Debt
<< <i> The FED has also been driving people into alternative investments such as PMs. >>
Sounds like markets are being manipulated. . . this week.
<< <i>Im not really concerned with the wholesalers, but rather J6P who thinks he is "stacking", ie, saving his paper money in the form of silver. >>
Were you this worried about him when he was stacking $7, $10 and even $40 silver? Seems like there has always been that "voice of doubt" out there no matter what I was paying for my silver. I look forward to still hearing it at $100 silver. Any J6P stacking silver knows exactly what he is doing and why he is doing it. He also knows silver moves up and it moves down.
Give Me Liberty or Give Me Debt
You can't eliminate all risk, but you do minimize market risk (the risk of market fluctuations) by dollar cost averaging. This means that you put away a certain amount on a regular basis.
Obviously, this means that if you start selling in a panic during a market downturn, you are doing the opposite of what this strategy requires, and therefore you aren't following a strategy at all.
There is a time to liquidate though, and it is generally when you have achieved your objectives. For me, this simply means that I will sell when my cash cushion needs an infusion or when I want to make a major purchase. In most cases, I will see it coming from a distance and plan ahead accordingly.
Once I retire and have no current stream of income, I will be selling pms on a schedule of sorts, much like the way I've been accumulating them - by dollar cost averaging on the way out with a tinge of tax planning in the mix.
If Congress someday gets religion and makes capitalism attractive once again by eliminating about 90% of the most damaging laws & regulations, then I'll consider becoming an investor in companies who show some initiative again. I wouldn't mind helping to create jobs as long as I don't get brutalized for doing so.
I knew it would happen.