Ike Projected To Move Into Gulf...$ 90 Oil And $ 10 Silver?

[SevenEyedJeff]

We saw what happened with Gustav. It weakened at the last second, and oil got hammered more than if the hurricane had not even been there. Now Ike will do the same, the bankers will kill oil and metals, the dollar will get stronger, and the twilight zone will continue...LOL

 

[Dr.3D]

Strange, usually the price of oil goes up when a hurricane enters the gulf.

 

[forsmant]

With the fannie and freddie debacle I think oil and silver will change very little. You have to remember that the demand for cash is higher now that banks are failing and the central banks are propping the dollar.

 

[JRuc33]

Oil is 100% in one year. Its called a bubble and it goes pop. Nothing can stop this downfall.

 

[constitutional]

Oil is 100% in one year. Its called a bubble and it goes pop. Nothing can stop this downfall.

That's not the case for precious metals, right? The dollar has lost its value due to inflation. I had thought oil price had went up mainly because dollar had lost its value.

And since the oil price is falling, dollar won't be propped up by OPEC.


Everything is confusing and does not make sense to me.

 

[bander87]

Why would oil go down?

 

[Indy Vidual]

Why would oil go down?

It went too high...
Markets eventually go both up and down.

Why Down?
More sellers than buyers.

 

[Knighted]

I saw an ad on a random TV channel today at the gym. (They have about 6 TV's set up for viewing while exercising.)

The ad was selling, I believe 1,800 silver morgan dollars for $19.95 a piece, citing silver's huge runup (conveniently, their data showing what a great investment silver has been was of March 2008.. right at the peak of silver.) and telling people to get in now before silver's next stampede. I wondered to myself why they were so set on dumping silver into the public's hands when most everyone here seems to be scrambling for it.

 

[NoMoreApathy]

I saw an ad on a random TV channel today at the gym. (They have about 6 TV's set up for viewing while exercising.)

The ad was selling, I believe 1,800 silver morgan dollars for $19.95 a piece, citing silver's huge runup (conveniently, their data showing what a great investment silver has been was of March 2008.. right at the peak of silver.) and telling people to get in now before silver's next stampede. I wondered to myself why they were so set on dumping silver into the public's hands when most everyone here seems to be scrambling for it.

I'm more interested in the many different TV and radio ads I've been hearing the past 6 months or so from various jewelers enticing the public to hurry in and trade their precious metals for CASH.

I don't know about anyone else, but there's a huge demand from jewelers around my area for PM's. They are trying VERY HARD to get your metals. If gold and silver have really peaked, then why do so many of these informed investors want it so badly? They're spending an awful lot of money running these ads just to acquire a commodity that by all MSM accounts has peaked and is on a rapid decline.

I say keep buying.

 

[Shinerxx]

The ad was selling, I believe 1,800 silver morgan dollars for $19.95 a piece, citing silver's huge runup (conveniently, their data showing what a great investment silver has been was of March 2008.. right at the peak of silver.) and telling people to get in now before silver's next stampede. I wondered to myself why they were so set on dumping silver into the public's hands when most everyone here seems to be scrambling for it.

You can also bet that those morgan dollars are not BU key date morgans. They are cull morgans. On APMEX today I could purchase 1800 cull morgan dollars for $12.70 each. The APMEX price is also about $3 over spot. The seller in that ad would make a killing off anyone dumb enough to call them. In order for the TV advertised price to be legit the spot price of silver would have to be in excess of $19 per oz.

 

[JRuc33]

That's not the case for precious metals, right? The dollar has lost its value due to inflation. I had thought oil price had went up mainly because dollar had lost its value.

Gold went from $650 to $1030 earlier this year. That only took one year. I believe Gold is a bubble and it should correct back to $650, which is fair value for gold if you look at the price of gold in 1913 and how much the dollar has been devalued since then.