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....Come on. That's absurd.
State your case.
Originally Posted by The Grinning Maniac
Actually...I'm going to backtrack a bit. After listening to the *whole* interview, and thinking about it a bit. It seems... possible. Theoretically, in a long shot way. It's just tough to wrap my head around that. Personally, I wouldn't stick around waiting for that price, but who knows?
I've never been one for reading charts and looking for patterns like "head and shoulders" and "double top" and "crouching tiger" or whatever. I only look at the geopolitical facts in the world. What got me into silver was A) the financial position of the US, which is completely FUBAR and B) The historical gold/silver ratio being 16. I think it was 70-80 when I started buying. I figured that in a time of panic it would close...and it has.
What got me thinking it's a "maybe" was when he pointed out the amount of above ground silver vs gold...which is apparently actually less than 16:1. Does anyone have any solid data on that.
If you imagine gold goes to $7000 when $#@! really goes crazy, at a ratio of, say, 9:1, silver's would be about $780. So theoretically...might not be nuts. But I don't think I'd have the stones to hold on that long. And if gold and silver made it that high, I think we'd be more concerned with surviving Mad Max territory.
Sounds pretty much like what I've been thinking for the past few years.
As of now, at the current trend since August 10th of last year, the ratio will be down to 16:1 in October of this year. If that happens, I'll be very interested in what happens next.
My guess is that it will continue down to perhaps 5:1.
So SSRI alone will be sitting on 2 trillion dollars worth of assets? As much as 1/7 the GDP of our country? I doubt it.
EDIT: I know the GDP won't be 14 trillion at that time, but still...
What I say is for entertainment purposes only!
Mark 10:45 The Son of Man did not come to be served, but to serve, and to give His life as a ransom for many.
"If you want to make a lot of money, resist diversification." - Jim Rogers
LOL this is a scam.
There is more gold oz above ground than silver currently.
Edit: And according to some sources I have read, 95% of all gold ever mined is still in existence where as 95% of all silver has been destroyed/used in industry/or placed into such small quantities to not be recyclable.
Last edited by jclay2; 04-20-2011 at 06:55 PM.
State your case.
Price is irrelevant to me. The system is a shame and should be destroyed. I'll dump my silver when you guys do.
You have to remember that the laws of economics still apply to precious metals.
There will likely always be some sort of investment demand, but the majority of the silver demand from industrial and jewelry sectors would nearly vanish. Who is going to buy a silver necklace for 20k? That, and another reason why silver can reach the highs that it is getting is because it is a very cheap metal, at least in comparison to gold. Gold is much less volatile for a few reasons, but a main one is that is it quite expensive. It is much easier to buy and sell ounces of silver than ounces of gold. Silver is the "people's precious metal". That is not to say that the risk is any lower.
The only way silver will reach 1000 or more per ounce is a hyperinflationary scenario. If we see QE10, I would probably put my entire life savings into precious metals/miners.
Last edited by libertybrewcity; 04-20-2011 at 09:15 PM.
Tu ne cede malis sed contra audentior ito
I tend to believe the biggest reason silver is so volatile is because it is a much smaller market than that of gold. There is not nearly as much silver around as there is gold. It is very easy to change the spot price of something that is scarce.You have to remember that the laws of economics still apply to precious metals.
There will likely always be some sort of investment demand, but the majority of the silver demand from industrial and jewelry sectors would nearly vanish. Who is going to buy a silver necklace for 20k? That, and another reason why silver can reach the highs that it is getting is because it is a very cheap metal, at least in comparison to gold. Gold is much less volatile for a few reasons, but a main one is that is it quite expensive. It is much easier to buy and sell ounces of silver than ounces of gold. Silver is the "people's precious metal". That is not to say that the risk is any lower.
The only way silver will reach 1000 or more per ounce is a hyperinflationary scenario. If we see QE10, I would probably put my entire life savings into precious metals/miners.
According to this article, "there is about seven times as much gold in the world as silver!" It would therefore seem silver should be around seven times as volatile.
Man- these predictions are getting crazy! Which makes me more and more inclined to believe that it is a bubble forming. Heard the same things about gold around 1980.
Who should? The guy implying a YouTube claiming $1,000 is reasonable, or the skeptic ?
Chances are if you hold to silver 1,000, then you'll be holding the bag when it crashes down.
People are trying to pump it up. I'm glad I'm not the only one who has noticed these calls for "buy, buy, buy"!!!
Tu ne cede malis sed contra audentior ito
Signs of a top, but people have been calling very large numbers from 25 till now, so who knows. I think once my neighbor starts talking to me about buying silver, I will sell. And I would anticipate that things will be pretty bad by then.
What I say is for entertainment purposes only!
Mark 10:45 The Son of Man did not come to be served, but to serve, and to give His life as a ransom for many.
"If you want to make a lot of money, resist diversification." - Jim Rogers
Wild, excessive predictions.
This helps to verify a *short to medium-term* top is happening right in front of our eyes, IMO.
Edit: *However, the dollar is also collapsing so predictions are difficult.
Last edited by Indy Vidual; 04-20-2011 at 10:15 PM.
No one here wanted to be the Billionaire.
The muddied waters will clear up (only a bit) around mid summer.
It really comes down to what you think will happen to the dollar... If you think we will have a total collapse of the dollar, then silver will be priceless in terms of dollars.
This doesnt mean you will have the purchasing power of what $1000 will buy you today, so its kinda hard for people to wrap their heads around.
What if 20% of the US population wanted to own 1 ounce of silver??
What if 20% of the world population wanted to 1 ounce of silver??
I have no idea whats going to happen.. But as long as we maintain our current monetary policy and political path, I will continue to hold. Probably will always hold most of it, and pass it on to my kids some day. Its just a real, physical asset that will not rot, spoil, or have its value diminished in any way.. Yes it will fluctuate over time, but no one can diminish what I hold by creating more. And that is the type of peace of mind that you cannot get with the dollar.
What else would a guy hold if he just wanted to safely protect himself and save his wealth for his kids future? Spike to $100, $1000 or whatever, I dont care what the price in dollars is, I am not selling.. Ok, maybe a little if it really spikes so that I can pay off the remaining balance of our home with the inflated price of silver in terms of dollars.. Otherwise, I will own it for as long as I live, and it will stay in the family from there.
Last edited by Mogambo Guru; 04-21-2011 at 10:19 AM.
BWAAAahahahahaha
(aka, the fabled Mogambo Laugh Of Anger, Outrage And Scorn (MLOAOAS))
***FYI, I am not The Real Mogambo Guru (TRMG)***
+1
Silver can't be destroyed. It's an element. Unless you subject it to some kind of nuclear reaction that changed it into some other stable element.
The proper concern of society is the preservation of individual freedom; the proper concern of the individual is the harmony of society.
"Who would be free, themselves must strike the blow." - Byron
"Who overcomes by force, hath overcome but half his foe." - Milton
Yes, but it can be so diluted, it isn't worth the effort to recover what was lost due to dilution. There is gold in sea water, but the effort to recover that gold is more expensive than the gold would be if they recovered it. The same holds true for the silver. It wouldn't be cost effective to recover the "lost" silver, even if the silver recovered were to be $1000 an ounce.
State your case.
I have numerous times.
June 31st is the stated date of the end of QE.
QE been going on for a long time, and will continue long after we're gone.
And that's my point. We will find out SOON what direction is taken. I believe central banks are ALL IN and will QE to infinity and beyond. That does not make it so (yet). The direction the Fed takes WILL have a large impact on the markets.
Yup. With given technology and at given prices. But it might, just for example, be cost-effective at some point to mine landfills for electronics just for the silver.
My point was that unlike oil, all the silver that was ever on earth is still here in one form or another (except what humans shot into space).
The proper concern of society is the preservation of individual freedom; the proper concern of the individual is the harmony of society.
"Who would be free, themselves must strike the blow." - Byron
"Who overcomes by force, hath overcome but half his foe." - Milton
I possess silver because it is money. I admit that I gauge it's worth against the FRN, but I'm not in it to invest. It is fun to see that I bought much at 17 and it is now closing on x3 that "price"; but frankly it is incorrect to think of the price of silver in terms of FRN's - FRN's are an abstraction. Silver is real money. Things should be thought of in terms of silver, not the other way around.
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