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Different market dynamic in the 80's. You had the Hunt brother conspiring to corner the market. Now you have industrial usage and growing investor demand - wide range of people fleeing fiat currencies for hard assets worldwide.
I read that the U.s. Mint will issue more Silver Eagles this year than all the Silver mined in the U.S. and they will still have to go into the market to make up for the short fall.
The word Silver is the term for money in 50 launguages.
The numerous margin hikes have essentially made the comex a physical market. There arent many "small" speculators in the futures markets. Maybe some guys tradin mini's but that isnt a very liquid market yet.
I know the short interest is greater than the speculators. It isnt speculating if you trade it with cash in hand and very little leverage. You either stand for delivery or roll over.
BTW - silver doesnt implode if you are a physical owner. One day some of these derivative plays may implode but not the real deal.
Good morning guys - time to make the donuts :)
Dollar 77.88 Silver 32.29
Dollar below .78 and Silver printing 32.20
SE - U.S. QE never ended - they are using the yield on the bonds that are already on the balance sheet to buy more each month. The balance sheet is expanding whether ole' Ben admits it or not. I dont think the dollar is headed any higher. I could see a double top at .80 but this golden cross is a bear trap IMO
Of course I could be wrong and the dollar runs to the trend line but Im more inclined to think this was just a dead cat bounce.
They started with 30 billion a month and that should grow at an exponential clip as the balance sheet expands furthur. Since they are buying longer maturities it should drive the yeild on a 10 note to near zip.
I see no reason to be getting in and out of the market but that is just me. Im a buy and hold investor. Difference is I dont play much in extremely volatile investment vehicles like you.
you have mail
Tutu - Ive seen some nice graded 1/20th of an ounce gold libertads for sale on ebay for only about 125.00
Here take a look
http://www.ebay.com/sch/i.html?_from=R40&_trksid=p5197.m570.l1313&_nkw=1%2F20+libertad&_sacat=See-All-Categories
The dollar just dipped below 79.00. Lets hope this is a trend beginning.
Ive already made more money in the OTC silver market than I have invested in physical silver. Unfortunetly, they closed down that market because the leverage was too high. You could control a position with only 10% equity.
So my buy in price is nothing and I own over 7000 ounces. I think Ill be just fine - lol
Buffett isnt so smart. He owned silver and admits he sold too soon. He also said he didnt know much about it but that when he bought he thought it was undervalued. He didnt make very much. I think more people made money off him moving the price so much while he was buying than he himself made.
Most silver gets used in industrial production. The world as we know it revolves around silver. Without it, there would be no chips, boards and to really stress the point even cruise missiles. Did you know a U.S. cruise missile has almost 500 ounces of silver in it?? Do you think it gets recycled? NO - its like all other silver. The U.S. government has tried desperately to demonitize silver by dumping tons on the market suppressing the price and this has led to overconsumption and now shortages.
People laughed at me when I was dumping all my money from internet companies into oil - lol
You too will learn
Ive sold some to friends here on ihub and a little on ebay but my ultimate goal is to hold until the inevitable which is extremely higher prices. I waited over 10 years for my oil portfolio to mature I can wait for peak silver too.
The way to make big money is to make long term big bets.
I think its going to be my micro play on gold. A friend here on ihub has spent the time to tell me just about everything I need to know to make a sound judgement call. The stock has been at a mean of 6.00 twice in the past and he believes we will see a repeat. When?? Dunno - but Im going to start buying next week.
Are you familiar with CALVF??
That sounds like fun. I may be able to do that.
I thought so :)
Wanna a burn a fattie?? I think that its more fun!
Ha - I dont drink and no I dont have a disease I just dont like it.
Ive been trying to find cheap 1/20th libertads but they are scarce. Nice collectable IMO and if needed small enough to use for trade - especially in Mexico
I read that Libertads were becoming very popular in the U.S. and this verifies it. Im going to keep mine :)
Steve Jobs is dead - holy crap
I own a lot of A-Mark 10 oz and, yes, they will buy back bullion.
Dollar index at support around 79.40 - looking for it to break down from here
I went to buy 2 of these and then got hit with 21.50 delivery charge and backed off the deal.
Got any clue what the mintage is with these??
http://www.apmex.com/Product/64564/2011_1_20_oz__Silver_Libertad___PROOF_In_Capsule.aspx