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Where are those $14 silver eagles you keep harping about?
If you mean 'people are buying fewer and fewer eagles' that the mint is selling out coins as fast as they produce them that is correct. And the stackers are buying more and more cheaper. How much would a coin collection be worth if one had bought one silver dollar every week of their lives (I know people that smoke more than that in cigs a week)? My guess would be RICH!
No prepping unless investing for retirement is your definition of prepping. Nope, I am buying silver because other people aren't. The way to riches is buy when people are selling and sell when people are buying.
I have no influence of the price of anything. Yep, the price of gas and medical care will surely rise under this mis-administration.
Have a great 4th all. To the foreigners it's our celebrating winning freedom from the British (when I asked my Brit friends if they celebrate the 4th he responded by saying they wear red armbands).
I would like to give you a thumbs up on that comment!
Metals going up/down/up/down rules the lives of the population... not. Most people don't know the price of gold or silver because their education and jobs keep their income below those able to invest in precious metals and they usually spend their disposable income on booze and cigarettes.
Would you call them 'swimming' in silver? LOL!!
The quote was from 15 years ago, did you read the whole article?
The Demand for Silver is At An All Time High
You may be aware that this year we have seen a shortage of both American Silver Eagles from the US Mint as well as junk silver available (that is, pre-1965 US dimes, quarters and half dollars). Further, silver ETFs, including some that will be mentioned in this article, have continued buying silver coins and bullion at a record pace while simultaneously dealing with redemptions. Demand in China and India remains high as well. Thus, demand for the metal is there, but this physical demand has been unable to quell the decline in prices. Where the bulk of demand lies and continues to grow is in industrial and technological applications. Therefore, there will always be some level of demand, but such demand should pick up significantly when the global economy comes fully out of recession. When the economy fully rebounds, there will be a spike in demand in many areas. The demand will not be just in coin and bullion form as silver is used in the following areas as well:
Currency; coins and bullion
Jewelry
Silverware; utensils, cutlery
Dentistry
Photography
Electronics
Mirrors and optics
Musical instruments
Medical devices and instruments
Textiles
Nanotechnology
I want to highlight the technology front. This is where demand continues to rise. While there has been a push to recycle electronics and silver can be salvaged from tech devices, it is rarely done and silver gets destroyed/wasted. We are in a generation dominated by cell phones, laptops, tablets etc. Millions of smart phones are being made and sold, which has created massive industrial demand for silver. As its sales are strong this demand will continue. I point to one example that illustrates this point. There is an average 20 cents of silver now used in each cell phone. While that is not much for a single phone, considering there were nearly six billion mobile subscribers worldwide in 2011-2012, a number that's growing here in 2013, it becomes clear that new phones will always be in demand. Using the average of 20 cents a phone, we generate demand for over $1 billion worth of silver in just new mobile devices alone. Now think about all of the other industries using silver. It is in finite supply. There is also a lot of silver in old cell phones, photography chemicals or medical devices that already have been taken out of the market. Although there is a push to recycle electronics and reclaim costly elements like silver within them, in situations where silver is used in very small portions (such as new smartphones), it is not cost-effective or even practical to recover the silver. Thus, new silver will be utilized in these devices.
Popping your 'bubble' regarding silver:
In the article, Ted Butler is quoted as saying this, 15 years ago:
"at the end of World War II, total known stocks of silver amounted to ten billion ounces (with the US government holding 4 billion ounces of that total amount). At that time, we were just entering an era of unprecedented global economic expansion that has lasted to the present. In this era, silver was consumed in a variety of vital modern applications at a phenomenal rate. Today, known stocks of silver have shrunk over 95%, to maybe a half a billion ounces. The nine and a half billion ounce draw down in total silver inventory, was the result of the persistent shortfall between supply and demand, which continues to this day. Not coincidentally, the current 200 million-ounce annual deficit in silver mirrors the long-term trend line average. This continuing deficit is remarkable in that there has been decent growth in world production of silver over the past 50 years, but obviously not enough to satisfy the surge in industrial demand."
The full article is at:
http://seekingalpha.com/article/1525962-thursday-s-action-suggests-silver-is-worthless-but-is-it?source=email_rt_article_title
Let's discuss this rather than you make grand comments that have no substance.
If people realized how little physical silver there is in the world and that if everyone would put 100 oz in their retirement assets there would be no silver left. But alas, people are too busy going deeper in debt for eating out and buying new cars.
physical silver is sold out of many dealers, or they are holdingo onto inventory until the price goes up. Paper, on the other hand, is a false promise of physical unless you want 10,000 oz delivered and if a person would want physical, why buy paper silver and then demand delivery? Why not just buy it on the open market?
How do I know silver is underpriced? Bashers tell us it will go down.
Boing! Up a buck.
Wrong again. Eagles are selling out at a maddening pace.
Nope. That's not true at all. We are running out of silver and paper silver is killing physical price. Stack while the price is right.
Time to take your profits and RUN! Silver has bottomed.
Agreed. The shorters (who believe posting on this board will somehow bring down the price of silver LOL!!!) post outright lies. But who cares? The paper market is keeping the price of physical silver artificially low, good for stackers. Sadly, paper won't go away as they will keep selling the lie of a pile of silver somewhere backing that price.
a million phones out the door at .3 grams per phone comes to 10,000 oz of silver gone from the universe.
But there are 4.6 billion phones in the world today, so .3 grams per phone comes to..... 46 million oz's? Is my math correct or not?
Might be a pittance to you but it leaves a large gaping hole in silver reserves.
Not a 'bubble bursting' but a slow motion train running into a stalled semi on a train tracks.
I am looking at investing in some 10 oz bars, they are $10 cheaper than yesterday. This can't go on forever.
If it does, I'm so stocking up on $4 silver if it ever gets that low. No tears here.
Physical silver held in hand will never disappear or go to zero. Now paper stocks can go bye-bye, that happens every day I will agree with you on that.
The dotcom burst was due to penny stocks going to the moon on a name and a promise. What has happened to ebay and amazon? They are dotcom and doing very very well.
Yes, I am buying for my retirement and not the next 5 seconds so if it goes down buy more and if it goes up buy less.
Staying away from investing because the paper silver market is crashing is like stopping eating because of a bacteria outbreak on a farm in China.
We can ask Walter White when Breaking Bad returns. He's a chemist.
You are not looking at silver being used in every electronic component made, use of silver in making clothing, use of silver in medicine, use of silver in making mirrors, used in nuclear reactors, 100 oz in each 'smart bomb' that explodes and the list goes on and on of silver being consumed never to exist in this universe ever again. If you wish to stand on your soapbox and say silver is going down in price that's free speech but just stop outright lying.
Big money is made in large movements in price. Margin calls will wipe out the greedy and don't be caught on the wrong side of the swing.
Thing about bubbles bursting are they are buying opportunities to rebuy.
But 'downwithpumpers' would argue that there is someone reclaiming and recycling that silver when it comes out the other hole.
How does that taste mixed with rum?
Could you hook me up with someone selling silver at .49 over spot? Now's the time I've been waiting for to stack.
Did you see tulving is sold out of silver eagles and a lot of other silver? The paper price takedown is creating a buying spree. They won't advertise the buy price because no one is selling but stacking for the bounce.
I can't wait. Stacking for the next 10 years and these downturns will make me rich in the longterm.
Your 'get rich scheme' will only break you.
Ok, thanks for that rant. On with life now.
I'm looking 10 years before I need to tap anything. This is a great way to stack cheaper and cheaper. I got most of my silver at $18 and have cash to burn.
Margin calls big time. Greed chasing greed, or the government needs quick cash and is just shorting the market with their unlimited bankroll.
buying opportunity. Less people will be selling and mines will be shutting down until the price goes back up. I'm going to get rich off the swing this time.
900 point drop is nothing compared to what it has risen the past few years. Like silver, it is worth dollar cost averaging. Have a great day!
Your broken crystal ball says teens, stackers say $50+. Maybe we will both be right.
Less productive mines will become idle, silver production will dwindle and supplies will become less. Price has to increase as idiots willing to give silver away for less than $20 an oz goes to zero. Silver will rebound and it will sell for $50+ next rise.
I'll take all the silver you have for $5 an oz.
Not many people have $30k to buy a 100 oz bar of silver.
Eagles are sold out and the Mint can't keep up with demand.
Have a great day!
Of course dealers want to sell their inventory - at a profit of course. They make their money on the difference between buy and sell and are not in the business to hold. 13.5 million oz's bought by investors at bargain prices? Smart people.
So if nothing is 'safe' why bother? We all ride the crash train together.