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Thread: Peter Schiff "Golden Opportunity In Silver"

  1. #1

    Peter Schiff "Golden Opportunity In Silver"

    This is from 2012 when silver was around 35$/OZ:



    This was posted today with silver around $15/OZ:




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  3. #2
    How has it done since 2012?

    http://www.kitco.com/scripts/hist_ch...rly_graphs.plx


    He made similar predictions on gold:


    2010:


    2011:


    2012:


    Last edited by Zippyjuan; 07-11-2017 at 04:10 PM.

  4. #3
    Yeah, never try to predict the market, you'll be wrong about half the time.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  5. #4
    Quote Originally Posted by Matt Collins View Post
    Yeah, never try to predict the market, you'll be wrong about half the time.
    But the other half you'll be right
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  6. #5
    Buy and hold.

  7. #6
    I'm a long term investor and the game is far from over.

  8. #7
    Well , we sold the hell out of 90 percent junk silver today at the local coin shop ( I work there on occasion for a few hours ) for 11.4 times face value . They probably bought 10k worth 3 business days ago and it is all sold .
    Do something Danke

  9. #8
    And yes , at the price silver was the past week , a very good opportunity it was .
    Do something Danke



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  11. #9
    Commodities are not investments, they are speculation. Stocks and bonds are investments.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  12. #10
    Quote Originally Posted by Matt Collins View Post
    Commodities are not investments, they are speculation. Stocks and bonds are investments.
    All investments are speculation though some have better track records of reliable returns than others (like stocks and bonds). Any sort of market timing is also speculation (high risk).

  13. #11
    Quote Originally Posted by Zippyjuan View Post
    All investments are speculation though some have better track records of reliable returns than others (like stocks and bonds). Any sort of market timing is also speculation (high risk).
    Negative. The definition of an investment is something that produces something. When you buy a stock or a bond you are investing in a company which will take capital and elevate that capital to a higher value. When you buy a commodity you are hoping that external forces make that commodity more valuable over time. Big difference.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  14. #12
    Quote Originally Posted by Matt Collins View Post
    When you buy a stock or a bond you are investing in a company which will take capital and elevate that capital to a higher value.
    Sometimes it will. Sometimes it won't.

  15. #13
    Quote Originally Posted by Matt Collins View Post
    Negative. The definition of an investment is something that produces something. When you buy a stock or a bond you are investing in a company which will take capital and elevate that capital to a higher value. When you buy a commodity you are hoping that external forces make that commodity more valuable over time. Big difference.
    Depends on whether you view physical silver as an industrial commodity or a monetary metal or both. Silver, as a monetary metal instead of as a commodity, becomes a store of wealth hedge against dying currencies and is neither 'speculation' nor 'investment', by your definitions. It's not speculation that fiat currency loses value daily. That's just a fact. It's not investment if the hope is to take FRN from someone else since silver has no counterparty.
    Last edited by devil21; 07-13-2017 at 01:25 PM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  16. #14
    Quote Originally Posted by devil21 View Post
    Depends on whether you view physical silver as an industrial commodity or a monetary metal or both. Silver, as a monetary metal instead of as a commodity, becomes a store of wealth hedge against dying currencies and is neither 'speculation' nor 'investment', by your definitions. It's not speculation that fiat currency loses value daily. That's just a fact. It's not investment if the hope is to take FRN from someone else since silver has no counterparty.
    Either way PM's value changes based on external factors. There is nothing the PM can do to change it's own value. Thus it pure speculation. PM's are also not quite as stable as people think they are (although this could be due to government manipulation). The best long term strategy is stocks, we're talking a 30 year time horizon. Why? Because companies have to adjust their prices for monetary inflation. PMs are really best for either short term speculation or SHTF scenarios.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  17. #15
    Quote Originally Posted by Matt Collins View Post
    Either way PM's value changes based on external factors. There is nothing the PM can do to change it's own value. Thus it pure speculation. PM's are also not quite as stable as people think they are (although this could be due to government manipulation). The best long term strategy is stocks, we're talking a 30 year time horizon. Why? Because companies have to adjust their prices for monetary inflation. PMs are really best for either short term speculation or SHTF scenarios.
    That's the whole point. It doesn't change value. It's not supposed to. This is apparent when one looks at the price of a silver dime today and sees that it buys, in FRN, roughly the same amount of gasoline that the silver dime bought in the 50's. The purchasing power stays roughly the same while fiat currencies come and go. Only the currencies change value relative to metals and that would be even more evident in a free market that isn't manipulated from top to bottom unlike the current rigged and manipulated system.

    Stocks in long established companies (like a GE) are reasonable investments for their function as an inflation hedge and unlikelihood of being declared valueless overnight. Most any other kind of stock is one cooked book episode away from being worthless though! Do you realize how often the exchanges change the make-up of their indexes? How often stocks are dropped and added? Hardly a measure of stability over a 30 year period.

    There is the one other small problem that you, as the investor, never actually own the stock. The DTCC does. You only get to "borrow" it under a use license. Physical metals are literally one of the only financial "tools" where you physically have possession of it and someone else doesn't hold express legal title to it. All financial instruments within the bank controlled system (stocks, bonds, annuities, etc) are ultimately owned by various banks (Fed) and their holding companies (DTCC), not you. It's in the contract/terms of service that no one reads.
    Last edited by devil21; 07-13-2017 at 09:07 PM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  18. #16
    Quote Originally Posted by devil21 View Post
    That's the whole point. It doesn't change value. It's not supposed to. This is apparent when one looks at the price of a silver dime today and sees that it buys, in FRN, roughly the same amount of gasoline that the silver dime bought in the 50's. The purchasing power stays roughly the same while fiat currencies come and go.
    Except that over 30 years PMs have been extremely volatile. FRNs are not volatile even though they are constantly headed down in the long term.



    Quote Originally Posted by devil21 View Post
    Do you realize how often the exchanges change the make-up of their indexes? How often stocks are dropped and added? Hardly a measure of stability over a 30 year period.
    That's why proper diversification is critical. Multiple sectors, multiple countries, multiple value levels.



    Quote Originally Posted by devil21 View Post
    There is the one other small problem that you, as the investor, never actually own the stock. The DTCC does. You only get to "borrow" it under a use license. Physical metals are literally one of the only financial "tools" where you physically have possession of it and someone else doesn't hold express legal title to it. All financial instruments within the bank controlled system (stocks, bonds, annuities, etc) are ultimately owned by various banks (Fed) and their holding companies (DTCC), not you. It's in the contract/terms of service that no one reads.
    And if they ever pulled that stunt we would be way past the point of societal collapse, money contracts would be the least of our problems. Which is why it is always beneficial to own some bullion and other supplies in case of a short term SHTF.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst



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  20. #17
    Quote Originally Posted by Matt Collins View Post
    Except that over 30 years PMs have been extremely volatile. FRNs are not volatile even though they are constantly headed down in the long term.
    Yes, but some of that volatility is due to the FRN losing/gaining value. And FRNs can occasionally lose value quickly and the biggest problem in my opinion is that they don't gain it back. That why, like you said, you want some PMs as insurance.

    Quote Originally Posted by Matt Collins View Post

    And if they ever pulled that stunt we would be way past the point of societal collapse, money contracts would be the least of our problems. Which is why it is always beneficial to own some bullion and other supplies in case of a short term SHTF.
    Good point.



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