Buffet didn't benefit on the price of silver because he did sell too early. And as ttown suggested that silver was badly needed by the banksters to supply SLV and then better manage the rise in the silver price. They kept it under $21 for quite some time. But Buffet was "paid back" in 2008 during the market crash by getting sweetheart deals in socialized govt banks and corporations. Goldman Sachs just handed WB a check for $5.5 BILL for his share of the profits over the past 2-1/2 yrs. That's effectively a full payback for his bypassing the silver run up.
The Hunts did nothing wrong except beat the banks at their own game. Unfortunately, the FEDs can change the rules at any time. And what they did was prevent the Hunts from buying any additional silver. All they could do was sell. Some game, huh? Imagine not being able to buy silver today, but only sell it. It was at that point a game they could not win as additional rules would have been changed if the first ones didn't do it. The Hunts played heavily with paper futures from 1973-1979 and had relatively little effect on the price of silver. It wasn't until they decided to start swapping paper for physical in size that the price started going ballistic in 1979. The Hunts knew that they would be targeted by regulators via margins and potential rule changes so they were in the process of trying to get rid of the paper they owned. They just didn't get 'er done in time. They were made out to be criminals by the govt and media when if anything they were patriots. Blame the silver and gold bugs and oil companies for the world's woes. Isn't that how it usually goes?
I may have asked this before, but what kinds of trades or deals actually do affect the world market price of silver? I know that my buying or selling a few ounces on the BST won't do it. Any idea what the average trade size is either ounce-wise or $$$wise?
From Stuppler & Co. today this email, while referring to Gold, I think you mean a buy similar to this...
Dear
With Gold continuing to hit record highs we have just closed at over $1,500 and continue to go strong! Just today alone the University of Texas endowment fund decided to buy, and take delivery of, $1 billion worth of gold. Endowment funds have a history of conservative investing and buying this much gold at today’s prices establishes that yet another traditional institution is bullish on owning gold. To read more about this purchase please click here.
Silver continued to be a strong performer today, as well, with a gain of almost 3%, hitting $45.43 in heavy morning trading. With this gain and strong fundamentals, it is only a matter of time until Silver breaks its all time high of $52.50 per ounce!
<< <i>This thing is nuts! Forget the possibility of $50 during the summer or late this year...at this crazy rate, it could hit $50 NEXT WEEK! Almost scary it has moved so fast. I sold some at 26x face and some before that...so I have been selling a little at a time. I feel as though this is the safest approach. Considering my cost basis is $9/oz or wayyyy less I am not worried but would like to sell the rest of what I have when it hits the magical $50+/oz mark. I am just afraid that a lot of people have this same plan...the question now...will it hit $60? At what point does the bubble pop? >>
There's nothing magical about the $50 level and should be virtually no resistance because there were almost no buyers at that level. Indeed, the news that it is setting new "all-time highs" might be more a propellent than a retarding force.
It is scary the rate at which it's moving but it would move faster in a buying panic.
<< <i>This thing is nuts! Forget the possibility of $50 during the summer or late this year...at this crazy rate, it could hit $50 NEXT WEEK! Almost scary it has moved so fast. I sold some at 26x face and some before that...so I have been selling a little at a time. I feel as though this is the safest approach. Considering my cost basis is $9/oz or wayyyy less I am not worried but would like to sell the rest of what I have when it hits the magical $50+/oz mark. I am just afraid that a lot of people have this same plan...the question now...will it hit $60? At what point does the bubble pop? >>
There's nothing magical about the $50 level and should be virtually no resistance because there were almost no buyers at that level. Indeed, the news that it is setting new "all-time highs" might be more a propellent than a retarding force.
It is scary the rate at which it's moving but it would move faster in a buying panic. >>
I agree with your points but eventually bubbles pop. I was a stock broker in the late 90s when I could do NOTHING wrong. All of my clients made a crap load of money. I quit in 1998...and not too long after that the bubble popped! I bought real estate in 2002....the property value soared for the next 5 years...and then the bubble popped. This bubble will pop as well. There does not seem to be any indicator that says $50 is the popping point but it sure does make me wonder what the top might be. That is really all I am saying.
"If it's not fun, it's not worth it." - KeyMan64 Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
.......Silver staying the same, "only" the value/worth of the FRN's are losing. We may need some wheelbarrels for the notes,to grocery shop soon. Again just bought another BU Franklin Roll for $320 and felt good about it. Few months back,would think your nuts to spend that on a roll..............May be opportunity to buy some coins with numismatic value,while attention is focused on bullion.
<< <i>From Stuppler & Co. today this email, while referring to Gold, I think you mean a buy similar to this...
Dear
With Gold continuing to hit record highs we have just closed at over $1,500 and continue to go strong! Just today alone the University of Texas endowment fund decided to buy, and take delivery of, $1 billion worth of gold. Endowment funds have a history of conservative investing and buying this much gold at today’s prices establishes that yet another traditional institution is bullish on owning gold. To read more about this purchase please click here.
Silver continued to be a strong performer today, as well, with a gain of almost 3%, hitting $45.43 in heavy morning trading. With this gain and strong fundamentals, it is only a matter of time until Silver breaks its all time high of $52.50 per ounce! >>
This is a misleading quote by Stuppler, the University of Texas did not buy most of their silver "at these prices", they bought the gold they are taking delivery of over a long period of time, and are not in it even close to 1500.00---------BigE
The paradigm shift is aided by the stealthy inflation induced by the Fed. Silver is $18 in 1980 dollars. At $140 in today's dollars equates to the $50 in 1980. Yet the $140 still seems ridiculous. How about $300? Or $400? Who knows what ridiculous numbers we'll see when trillions of dollars go unpaid when the US in broke. What did the Standard and Poors give us....two years?
When you control a $5 Billion+ pension fund, you can turn fear (in this case of a currency collapse) into actions that have real impacts, regardless of if those fears become reality.
I will have to spend some time looking at my silver holdings to determine how much I have and at what price per ounce I would be able to sell and use the proceeds to pay off my home loan.
Unfortunately, the spot price will have to go up quite a bit before I hit the home loan pay off mark.
<< <i>It's better to have silver than to not have silver. >>
Isn't that a quote from the Lone Ranger?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<<< I have no idea if Warren Buffett bought back in, but it looks like he sold too early. I don't think he is behind the recent rise. >>>
I don't think Buffett has ever been much of a precious metals bug, however Carlos Slim (worlds richest man) and the Chinese govt. have been heavy accumulators recently so I've read.
<< <i><<< I have no idea if Warren Buffett bought back in, but it looks like he sold too early. I don't think he is behind the recent rise. >>>
I don't think Buffett has ever been much of a precious metals bug, however Carlos Slim (worlds richest man) and the Chinese govt. have been heavy accumulators recently so I've read. >>
Should we be glad that Warren Buffett isn't into silver in the same way we are glad [at least I am] that Bill Gates doesn't covet rare coins?
<< <i><<< Should we be glad that Warren Buffett isn't into silver in the same way we are glad [at least I am] that Bill Gates doesn't covet rare coins? >>> I dunno. I think if Buffett announced on CNBC that he was now a buyer of silver that many would certainly follow him. >>
For Buffet to retain his key to the executive wash room of the bankster's inner sactum, I'd bet he had to swear off PM's to continue to be offered favored dealers from the "team."
Silver is due for a minor pullback anytime now. But then there will still be one final push into later May or June. That's the leg that should exceed the $50+ all time high mark. From an Elliot Wave perpective silver is currently in the 3rd minor wave of the 3rd intermediate wave of the 3rd major wave. These #3 waves are typically where parabolic type moves occur...such as the one we are currently in. A more significant intermediate 4th wave pull back between June-October and then we see the 5th wave (5 of 3 of 3)
It's starting to look like we're shaping up for the buying panic.
This will be led by the shorts but will be driven by industrial customers concerned with the quality of their paper.
It will get ugly out there if this is it because a lot of the people who get burned will be the rich and powerful. The bankers went too far this time probably.
If you're worried about the currency you should be buying gold not silver. The powers that be will have to let gold run up to around $2100 in the near term.
2.5% moves have become commonplace, actually they have been happening for some time. Its just that 2.5% of 40.00 is a dollar, 2.5% used to only be 50 cents a short while ago at 20.00----------------BigE
<< <i>2.5% moves have become commonplace, actually they have been happening for some time. Its just that 2.5% of 40.00 is a dollar, 2.5% used to only be 50 cents a short while ago at 20.00----------------BigE >>
I don't believe it's possible to have 2 and 2 1/2 % gains day after day in something that is so dramatically undervalued and oversold while being needed to keep the world going without causing the sellers to panic and start buying. As they attempt to secure the metal to cover their bets the price is driven sharply higher. Perhaps we're not really at this point yet but I'm guessing by the time New York opens we'll be close.
I've put some ASEs on the market that I thought I'd never sell; if silver ramps up some more, I might sell a few more. Nobody calls all the turns or dips.
WILL WORK FOR CENTS, QUARTERS, HALVES, DOLLARS....
<< <i>2.5% moves have become commonplace, actually they have been happening for some time. Its just that 2.5% of 40.00 is a dollar, 2.5% used to only be 50 cents a short while ago at 20.00----------------BigE >>
I don't believe it's possible to have 2 and 2 1/2 % gains day after day in something that is so dramatically undervalued and oversold while being needed to keep the world going without causing the sellers to panic and start buying. As they attempt to secure the metal to cover their bets the price is driven sharply higher. Perhaps we're not really at this point yet but I'm guessing by the time New York opens we'll be close. >>
I used the word "commonplace", not daily, can't wait to see multi dollar moves both ways , we definitely will at say, 70.00+. What do you think?--------BigE
Silver is UP $1.18 in the Asia Market RIGHT NOW! Silver is now $47.81!!!!!!!!!! Holy Cow! It could hit $50 by Wednesday's close...or sooner...at this rate!
"If it's not fun, it's not worth it." - KeyMan64 Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Currently, this means a guy can still get a problem free Walking Liberty half dollar in VG+ for under twenty bucks. Is that scarey or what ? One gallon of gas or a decent Winged Liberty dime Which is the better buy ?
Currently up $2.54 at $49.15. Will it break the $50 barrier today?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It might be time to buy an E ticket and ride the coaster (do paper), like I said above, now I wouldn't be surprised to see 5% moves either way!----------------------BigE
Somebody ought to copy this chart and sell framed prints to coin shops as a vivid reminder to customers that past performance is no guarantee of future performance, and that investing in metals takes spheres of Krell Steel!!!!
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Comments
<< <i>I'm going to start scaling out when it hits $50 and put the money into real estate and other tangibles that haven't seen a huge run up. >>
Real Estate sure has been beat up over the past several years. BUYING LOW is always a good idea!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
better manage the rise in the silver price. They kept it under $21 for quite some time. But Buffet was "paid back" in 2008 during the market crash by getting sweetheart
deals in socialized govt banks and corporations. Goldman Sachs just handed WB a check for $5.5 BILL for his share of the profits over the past 2-1/2 yrs. That's effectively
a full payback for his bypassing the silver run up.
The Hunts did nothing wrong except beat the banks at their own game. Unfortunately, the FEDs can change the rules at any time. And what they did was prevent the Hunts
from buying any additional silver. All they could do was sell. Some game, huh? Imagine not being able to buy silver today, but only sell it. It was at that point a game
they could not win as additional rules would have been changed if the first ones didn't do it. The Hunts played heavily with paper futures from 1973-1979 and had relatively little
effect on the price of silver. It wasn't until they decided to start swapping paper for physical in size that the price started going ballistic in 1979. The Hunts knew that they would be
targeted by regulators via margins and potential rule changes so they were in the process of trying to get rid of the paper they owned. They just didn't get 'er done in time. They
were made out to be criminals by the govt and media when if anything they were patriots. Blame the silver and gold bugs and oil companies for the world's woes. Isn't that how it usually goes?
roadrunner
Dear
With Gold continuing to hit record highs we have just closed at over $1,500 and continue to go strong! Just today alone the University of Texas endowment fund decided to buy, and take delivery of, $1 billion worth of gold. Endowment funds have a history of conservative investing and buying this much gold at today’s prices establishes that yet another traditional institution is bullish on owning gold. To read more about this purchase please click here.
Silver continued to be a strong performer today, as well, with a gain of almost 3%, hitting $45.43 in heavy morning trading. With this gain and strong fundamentals, it is only a matter of time until Silver breaks its all time high of $52.50 per ounce!
<< <i>Up a buck & a quarter+, in one day.
``https://ebay.us/m/KxolR5
At this rate, that should be next Tuesday!
<< <i>This thing is nuts! Forget the possibility of $50 during the summer or late this year...at this crazy rate, it could hit $50 NEXT WEEK! Almost scary it has moved so fast. I sold some at 26x face and some before that...so I have been selling a little at a time. I feel as though this is the safest approach. Considering my cost basis is $9/oz or wayyyy less I am not worried but would like to sell the rest of what I have when it hits the magical $50+/oz mark. I am just afraid that a lot of people have this same plan...the question now...will it hit $60? At what point does the bubble pop? >>
There's nothing magical about the $50 level and should be virtually no resistance because
there were almost no buyers at that level. Indeed, the news that it is setting new "all-time
highs" might be more a propellent than a retarding force.
It is scary the rate at which it's moving but it would move faster in a buying panic.
<< <i>
<< <i>This thing is nuts! Forget the possibility of $50 during the summer or late this year...at this crazy rate, it could hit $50 NEXT WEEK! Almost scary it has moved so fast. I sold some at 26x face and some before that...so I have been selling a little at a time. I feel as though this is the safest approach. Considering my cost basis is $9/oz or wayyyy less I am not worried but would like to sell the rest of what I have when it hits the magical $50+/oz mark. I am just afraid that a lot of people have this same plan...the question now...will it hit $60? At what point does the bubble pop? >>
There's nothing magical about the $50 level and should be virtually no resistance because
there were almost no buyers at that level. Indeed, the news that it is setting new "all-time
highs" might be more a propellent than a retarding force.
It is scary the rate at which it's moving but it would move faster in a buying panic. >>
I agree with your points but eventually bubbles pop. I was a stock broker in the late 90s when I could do NOTHING wrong. All of my clients made a crap load of money. I quit in 1998...and not too long after that the bubble popped! I bought real estate in 2002....the property value soared for the next 5 years...and then the bubble popped. This bubble will pop as well. There does not seem to be any indicator that says $50 is the popping point but it sure does make me wonder what the top might be. That is really all I am saying.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
<< <i>From Stuppler & Co. today this email, while referring to Gold, I think you mean a buy similar to this...
Dear
With Gold continuing to hit record highs we have just closed at over $1,500 and continue to go strong! Just today alone the University of Texas endowment fund decided to buy, and take delivery of, $1 billion worth of gold. Endowment funds have a history of conservative investing and buying this much gold at today’s prices establishes that yet another traditional institution is bullish on owning gold. To read more about this purchase please click here.
Silver continued to be a strong performer today, as well, with a gain of almost 3%, hitting $45.43 in heavy morning trading. With this gain and strong fundamentals, it is only a matter of time until Silver breaks its all time high of $52.50 per ounce! >>
This is a misleading quote by Stuppler, the University of Texas did not buy most of their silver "at these prices", they bought the gold they are taking delivery of over a long period of time, and are not in it even close to 1500.00---------BigE
When you control a $5 Billion+ pension fund, you can turn fear (in this case of a currency collapse) into actions that have real impacts, regardless of if those fears become reality.
Unfortunately, the spot price will have to go up quite a bit before I hit the home loan pay off mark.
@ $1500 , that makes silver a target at at least 100$
Me I have no idea. It is getting kind of scarey though.
I knew it would happen.
<< <i>It's better to have silver than to not have silver. >>
Isn't that a quote from the Lone Ranger?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Is there a way to check the price now?
I don't think Buffett has ever been much of a precious metals bug, however Carlos Slim (worlds richest man) and the Chinese govt. have been heavy accumulators recently so I've read.
<< <i><<< I have no idea if Warren Buffett bought back in, but it looks like he sold too early. I don't think he is behind the recent rise. >>>
I don't think Buffett has ever been much of a precious metals bug, however Carlos Slim (worlds richest man) and the Chinese govt. have been heavy accumulators recently so I've read. >>
Should we be glad that Warren Buffett isn't into silver in the same way we are glad [at least I am] that Bill Gates doesn't covet rare coins?
I dunno. I think if Buffett announced on CNBC that he was now a buyer of silver that many would certainly follow him.
<< <i><<< Should we be glad that Warren Buffett isn't into silver in the same way we are glad [at least I am] that Bill Gates doesn't covet rare coins? >>>
I dunno. I think if Buffett announced on CNBC that he was now a buyer of silver that many would certainly follow him. >>
For Buffet to retain his key to the executive wash room of the bankster's inner sactum, I'd bet he had to swear off PM's to continue to be offered favored dealers from the "team."
Silver is due for a minor pullback anytime now. But then there will still be one final push into later May or June. That's the leg that should exceed the $50+ all time high mark.
From an Elliot Wave perpective silver is currently in the 3rd minor wave of the 3rd intermediate wave of the 3rd major wave. These #3 waves are typically where parabolic
type moves occur...such as the one we are currently in. A more significant intermediate 4th wave pull back between June-October and then we see the 5th wave (5 of 3 of 3)
roadrunner
This will be led by the shorts but will be driven by industrial customers concerned with
the quality of their paper.
It will get ugly out there if this is it because a lot of the people who get burned will be
the rich and powerful. The bankers went too far this time probably.
If you're worried about the currency you should be buying gold not silver. The powers
that be will have to let gold run up to around $2100 in the near term.
Don't panic. Panic is always the wrong move.
<< <i>2.5% moves have become commonplace, actually they have been happening for some time. Its just that 2.5% of 40.00 is a dollar, 2.5% used to only be 50 cents a short while ago at 20.00
I don't believe it's possible to have 2 and 2 1/2 % gains day after day in
something that is so dramatically undervalued and oversold while being
needed to keep the world going without causing the sellers to panic and
start buying. As they attempt to secure the metal to cover their bets the
price is driven sharply higher. Perhaps we're not really at this point yet
but I'm guessing by the time New York opens we'll be close.
1879-O{Rev}: 1st coin of my "secret set"
<< <i>
<< <i>2.5% moves have become commonplace, actually they have been happening for some time. Its just that 2.5% of 40.00 is a dollar, 2.5% used to only be 50 cents a short while ago at 20.00
I don't believe it's possible to have 2 and 2 1/2 % gains day after day in
something that is so dramatically undervalued and oversold while being
needed to keep the world going without causing the sellers to panic and
start buying. As they attempt to secure the metal to cover their bets the
price is driven sharply higher. Perhaps we're not really at this point yet
but I'm guessing by the time New York opens we'll be close. >>
I used the word "commonplace", not daily, can't wait to see multi dollar moves both ways , we definitely will at say, 70.00+. What do you think?--------BigE
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
I knew it would happen.
roadrunner
``https://ebay.us/m/KxolR5
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
``https://ebay.us/m/KxolR5
good day to buy i think...........
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
roller coaster silver
oops
Da Bulls!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
If these guys were playing Pit it would be perfect.