Skip to comments.Silver 1.20 higher than Friday close
Posted on 04/24/2011 6:01:53 PM PDT by JimWayne
Silver at 47.81. Click on link for chart.
(Excerpt) Read more at kitco.com ...
I just purchased 80 Silver Eagles this morning at over a dollar less per ounce, so I suppose I’ve already profited, but seeing how the dollar is losing value on a daily basis as well, I don’t even know if it was a good investment over the long term at this point.
Never bet against America.
You may not yet see how or when, but something will change things and America will step forward strongly. Shaking the world.
Don’t be on the wrong side, then that happens.
Don’t bet against America. Don’t do it.
The list, ping
Let me know if you would like to be on or off the ping list
Bought AGQ double leveraged ETF in March. Up over 50 percent.
You might not want to be against America, but you should definitely bet against our leadership and the Fed. Hyperinflation is coming and it ain’t gonna be pretty.
Cool! I found some silver ore on my property last week.
Precious metals are the bellwether to watch. As these commodities keep getting higher and higher, faster and faster, the economic end to our fat, dumb, and happy way of life in the USA gets closer and closer. Better get those wheelbarrows ready to carry your billions of dollars for a loaf of bread. If you haven’t already done so get your hands on some junk silver (pre 1964 American coins). With silver at $47.00 an ounce a single pre 1964 dime is worth $3.60. These will make for an easy tradable currency WTSHTF.
What is a bet against America? Coins from the US Mint?
The dow/gold ratio is going down to a little less then 1, and nothing at this point can stop it, so its wise to try and take advantage of it.
Betting against? Not quite. Hedging my bets? Absolutely!
The federal government is not to be trusted. When the greenback is inflated to oblivion, what use will it be other than tinder or TP?
Once trillions of dollars in savings are more or less worthless, what will happen to the average American who doesn't actually care for politics or follow politics closely?
One interesting answer I've had to that question that I posed to an Obama lover is “that's when I start shooting”.
Push a man to the point where he has nothing to lose and all bets are off.
I have found this website to be a very useful source of information on the economy, gold, and silver.
To be fair, I know what he means. We have significant US dollar holdings in the form of Treasuries, bonds, TIPS, I-bonds, etc. I believe it is important to “give back” to such a great country and certainly don’t want to lose wealth.
However... given so much nonsense at the state, local, and federal level it only makes sense to maintain a diverse portfolio. We’ll keep our metals and our Ts. Have been “prepping” for long time, pre Y2K so it is very wierd to see all this stuff go mainstream. It all started as an instinctual feeling that not only was the US going down the wrong path in so many ways (by design, even) it was first hand observation that other countries would not play these games. I made it a habit, everytime I would boil over
at some egregious assault on my intelligence, to go buy a roll or two of silver, some gold, a bar, etc. Has proved to very profitable, and very good sleep insurance.
I no longer care. I just prepare.
They don't back it up with physical silver. How safe is it? Wouldn't it be better to go with PSLV or just buy physical silver?
I am really intrigued by this “never bet against America” sentiment. Part of me feels this way: that betting against America is one of the surest ways to lose money.
But on the other hand, this just feels different. We seem to have boxed ourselves into a corner that we cannot get out of. We cannot roll over our debt forever (without abusing our reserve currency status into oblivion), we cannot make meaningful cuts in our federal spending, and there just doesn’t seem to be enough potential growth to make up the difference. Right now, we are simply trading the world’s trust in the dollar, for a little bit of time.
Where do you see this “step forward” coming from? From growth? From budgetary discipline? Do you really see this as the same country that has always emerged victorious, or has something changed? I am not arguing, in that I think that this country is blessed. But I just cannot see how this trap is avoided.
“We seem to have boxed ourselves into a corner that we cannot get out of. “
America is confused right now. That is temporary.
Same here. Was just appreciating your timely humorous quip. BTW, I still have a substantial amount of my savings in CDs. Where would you recommend I move it to? I already have some gold and silver. I feel leaving my CDs in place might be a bad call.
Very true! ...... Many years ago (50’s, 40’s, and earlier).
Not so true now. We have never been in such debt. We have never been so diluted with people who could care a wit about this country. We have never been so morally bankrupt as we are now.
“historically, asset-based currencies hold up WAY better than fiat currencies.”
I agree with you. You’ll never get any Democrat or 99% of Republican politicians to believe that though.
If the economy falls apart we all lose, no matter what you do.
you don’t get out much, do you?
have you seen the people that make up America these days? they don’t have the grit previous generations had. these people look to the govt for work since they have zer0 idea how to create their own jobs.
meanwhile, *if* just *one thing* were done to improve America’s financial outlook, then maybe i’d slow down a bit. considering not one thing has been done to slow the bleeding since the mid 90s... i won’t be holding my breath
America is confused.
Everything we believed to be true, has been bogus.
Those who should have been helping, have been sabotaging.
Those who pretended to believe in the high-minded ideals of the founders of our republic, in fact are too frequently amoral and care not one wit about America.
However, we are learning. When enough recognize that uncomfortable truth, America will change. Adapt, and come roaring back with startling focus.
GOP. Don’t be on the wrong side when that happens.
Don’t be sleeping, in bed with those who care not for America, on that re-awakening morning in America.
Pick a lane. Soon.
Mr. Trump has much to teach the GOP.
I hope they are listening...
Silver is in backwardation right now (a pretty rare state for commodities) and AGQ is based on options for physical silver futures. It’s recent stellar performance has been slightly over double the performance of physical silver.
If you feel strongly enough to invest in silver, consider AGQ. Doubling your profits is not a bad thing.
If you plan to take physical possession of the silver, then by it outright and don’t mess around with ETFs or other instruments.
Well, it would be tough to recommend anything because every situation is different. Generally, it pays to reduce debt, if you have any, because presumably your CD rates of interest are very low - even cash in your bank safe deposit box or other safe location makes a certain amount of sense.
Assuming your finances are in otherwise good shape - cars paid off, no credit card debt @ 18%, etc, one area that wish I had done was convert some of my “gambling” money into foreign currencies - Canadian dollar to be specific. Stocks that are expressed in foreign currencies? Dividend paying stocks, particularly oil related stocks make sense, as most of us need to drive.
But your CDs were presumably purchased as part of your near-cash asset allocation and make no mistake cash is still king, it just takes more of it. 3
to 6 months living expenses (easier said than done!!) is also some good sleep insurance and important as ever. It may be the best thing, given your situation, to keep them.
We are acting as victims.
Frozen. Not seeing that we could escape any time we chose.
All that we lack yet, is that moment when we decide to stand up.
America is still the world’s superpower. For now.
Ending the confusion will require telling millions of government dependents "NO MORE" and then shooting some of them when they riot. It will be interesting to see which political entity will emerge that is capable of doing this, other than some totalitarian successor to the current order.
Check ebay, silver there is trading for 50-58 dollars an oz over the last three days. I use it as a leading market indicator. That market trades 24/7.
IMHO our side has become overly obsessed with domestic policy issues at this moment in history.
America is not collapsing economically because of right or left.
We are under economic attack. Yet we do nothing.
I could not agree with you more that we are acting as victims, and that we have not yet stood up. I am really just questioning two things. Have we waited too long? My answer would be yes. IMO, we have passed the “event horizon”. And secondly, is this the same America that it was even in the 70s? My answer is that while much of that America still remains, most of it doesn’t. And I don’t think enough remains to really make the kind of fiscal decisions, and provide enough growth, to affect the outcome.
I really do hope you are right. But personally, I think it is now a question of economic survival, not recovery (both for the country, and for individuals).
So far I have made almost 350% profit in just over a year.
“Have we waited too long? “
The question more appropriately, is whether we are willing to stand up to those allegedly on OUR side, who are enabling this.
We must. They are selling our nation out. It is very nearly, true treason. Yet so many, remain silent. Mute.
Not young bubblehead products of the socialists running our schools.
Silent. Willfully ignoring reality. I sure don’t get it.
We are supposed to be the ones who recognize geopolitical realities.
So. Why don’t so many on our side? Our problem is not liberals.
Our problem is immobile, frozen to their place, conservatives who should know better and be doing something about it.
Stay off eBay! Chinese fake EVERYTHING including Gold and Silver!
So are ayou suggesting 100% in gold and silver?
Finances are in good shape but I do not own a place. I rent. So sleep insurance has to factor in rent and for me, sleep insurance is a year's expenses. I've been there. So I know it is a year's expenses. If I owned a place, then things would be different because rent is a huge part of my monthly expenses. I have been going in for physical silver. As for the CDs, they have been disturbing my sleep because what you think is a month's expense today may be worth only ten days' expenses, a year or two from now!
“Never bet against America.”
Here’s another one for the list of items suggested by my tagline!
People who are buying real "things" like commodities, metals, land etc. (as opposed to paper instruments like stocks, bonds, dollars, treasuries), aren't betting against America.
They're betting against the central bankers, the corrupt international financial syndicate, the Obama administration, hyper-Keynesianism, collectivism, QE2, fiat currencies etc. etc. etc.
Buying hard assets or "things" is aquiring wealth. Keeping cash when it does nothing but get devalued buy people like Maobama and Ben Ber-snakey is objectively unwise.
Wouldn’t it be better to go with PSLV or just buy physical silver?
We are acting as victims.
“If the economy falls apart we all lose, no matter what you do.”
Oh that is true. But your very survival, and that of your family most assuredly depends on what you do now to prepare. Yea I know many people out there just wanna laugh and point fingers at the so-called “crazy survivalist doom and gloomers.” But it should be apparent to any one who has ever had to maintain a budget of any kind, that our politicians have brought us to the brink of disaster with no way out.
Like so many civilizations before us we think we are the exception and that nothing could ever bring down our way of life. History shows us a different story all together. Hell, we already live in a socialistic police state. Who would have thought that just 30 years ago? How many of the people of our younger generations even know they are living in a socialistic police state?
Bottom line here: You better do what you can to prepare with what little time you have left. So say I’m wrong. Say we somehow, miraculously, dodge this looming economic catastrophe (nothing would make me happier). The worst case scenario is you will be much better prepared to survive the many inevitable natural disasters that absolutely will occur in your lifetime.
The dollar has been in long term slide since 1965. It was $=360yen then..less than 100yen now. Other hard currencies..like the Swiss Franc and DM/Euro. Don’t bet against the US..but don’t bet on our currency.
Stay off eBay! Chinese fake EVERYTHING including Gold and Silver!
(Oops! I just realized we are both eBay buyers who don’t like competitive bidders!)
PS, please tell us exactly 3what fakes you have reliable knowledge of, that a buyer didn’t get compensated for. I’ve been cheated with a plated item, but I got every penny back.
You beat me to it...
So are you suggesting 100% in gold and silver?
Actually, the mining stocks have been something of a disappointment.
Call it the 401k restoration strategy!
Just because I long ago decided to be “all in” on America, doesn’t mean I object to being prudent.
My point is, if it comes down to being prudent or supporting America, I’ll support America.
That’s my decision. Old fashioned that way I suppose.
Silver is much more volatile than gold. It may well shoot to a hundred bucks. But it could also drop back to 10. Nobody is obligated to purchase your silver or gold at any “spot” price, either. While it’s cool to make money, people need to get a grip and realize they can also lose their shirt with this stuff. While silver is taking off like a rocket, and I own a fair amount, gold is “safer” in my opinion. Have not bought either for a few years now. That, too, might be a mistake. But have been laying in supplies and durable goods and non-perishables. Hope this helps.
The citizens that will be most valuable to America are the ones who were prudent.
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