Silver has dipped into the $15.00s, Gold into the $1160s... where is the bottom?
- Thread starter William Tell
- Start date
Good ole Petey, still humping that chicken, don't you ever change..
Gold could do lots of things, and going to 5000$ an ounce is definitely one of them..
This is no more an actuall prediction than a wingnut preacher proclaiming the rapture is nigh, yet never committing to an actual date, is prohpecy...
There are no such things as hard-fast rules in investing.. too easy to point out exceptions..
Although I heard one once "stay invested in an oil company for a long enough period of time, it is virtually impossible not to make money", "stay invested in a mining stock long enough, it's virtually impossible not to lose it"
my personal anecdotes confirm this.
Zippyjuan
Banned
- Joined
- Feb 5, 2008
- Messages
- 49,008
Of course Schiff has incentive to want to say gold will soar- he makes his living selling gold based products (stocks or metals).
helmuth_hubener
Banned
- Joined
- Nov 28, 2007
- Messages
- 9,484
It's also not really any different than our own Zippyjuan-Peter Schiff who has been perpetually predicting for years now that bonds are bound to fall, interest rates are bound to rise. In fact, the regular Peter Schiff predicts that, too.
The End is Near! You just have to keep the faith! Don't doubt! Doubt is poison! Just trust the words of these seers!
Of course, one funny observational note: Zippyjuan/Peter Schiff is sure that bonds are destined to crash soon, but at the same time Zippyjuan/Peter Schiff is also rather certain that gold will not be zooming up any time soon. However, if bonds do crash as Z/PS is perpetually sure they will, gold will almost certainly zoom up (as he is perpetually sure it won't). The reason, you see, that bonds would crash would be inflation -- and that very same inflation would be precisely what would cause inevitable upward price pressure for gold. Bonds and gold are, in some important and fundamental ways, long-term mirrors of each other.
cubical
Member
- Joined
- Jan 30, 2010
- Messages
- 2,361
I agree with Pete on this one except I might add a 0 to the end.
KCIndy
Member
- Joined
- Nov 17, 2007
- Messages
- 6,342
I'm right there with you on that one! I can't spare the extra cash for silver investments right now, but fifteen bucks is such a good price!!
Tinnuhana
Member
- Joined
- Sep 4, 2008
- Messages
- 2,648
My dealer says that silver is dropping because the demand for it in industry (esp. for film, etc.) is down due to the "digital age". I would think some entrepreneur coming up with a new use for silver could change this.
You think ZippyJuan is Peter? And all these years I thought he was Ben B!
J/K
You think ZippyJuan is Peter? And all these years I thought he was Ben B!
J/K
NoOneButPaul
Member
- Joined
- Feb 14, 2012
- Messages
- 1,850
I believe the worst case scenario is $9.50 for silver and $950 for gold.
I base this off the fact the last time PMs had their major run during the 70s the POG retraced from $200 to $100 from 1976-80 and everyone said it was over then the POG jumped from $100 to $850 in a month at the start of 1980.
A full 50% retracement from the 2011 top would be $950 and if we see the GSR swing to the wild extreme we did last decade of 100-1 then that puts Silver at $9.50
Personally I do not see it getting that bad but every month I buy a roll of Silver Eagles regardless of the price because I really don't give a shit where it's going in the short term. The end game of this system is pretty clear (See Japan) and no matter what happens the currencies will have to be devalued and PMs will go up in the long run. PMs will save your ass when this manipulated mess of a market finally breaks and I do not doubt that may take awhile but if you understand that this could take many years to unfold then just stack. These levels are cheap and bound to get even cheaper because of how terrible sentiment is... put a plan in place to stack a small set amount every month and stick with it.
I base this off the fact the last time PMs had their major run during the 70s the POG retraced from $200 to $100 from 1976-80 and everyone said it was over then the POG jumped from $100 to $850 in a month at the start of 1980.
A full 50% retracement from the 2011 top would be $950 and if we see the GSR swing to the wild extreme we did last decade of 100-1 then that puts Silver at $9.50
Personally I do not see it getting that bad but every month I buy a roll of Silver Eagles regardless of the price because I really don't give a shit where it's going in the short term. The end game of this system is pretty clear (See Japan) and no matter what happens the currencies will have to be devalued and PMs will go up in the long run. PMs will save your ass when this manipulated mess of a market finally breaks and I do not doubt that may take awhile but if you understand that this could take many years to unfold then just stack. These levels are cheap and bound to get even cheaper because of how terrible sentiment is... put a plan in place to stack a small set amount every month and stick with it.
Last edited:
I don't know where silver or gold will go - but has anyone actually tried to use the stuff as money? I have and no one will take it at "spot" value (they will certainly at face value). The exception was a carpenter who wanted a few eagles plus some cash. The point being: what can this be used for except as SHTF insurance? If everything collapses - food and necessities will be 100x more valuable.
Don't get me wrong - I own some - but in the end... who is going to take it?
Don't get me wrong - I own some - but in the end... who is going to take it?
Madison320
Member
- Joined
- Jan 11, 2012
- Messages
- 6,032
Either way I'm covered. If it turns out I'm wrong and we don't need to actually produce anything, all we need to do is borrow and print money, then I'll retire on social security. If not, I've got my gold.
jbauer
Member
- Joined
- Feb 3, 2012
- Messages
- 4,080
LOL, I've had the same argument many times with folks. Maybe the end is right around the corner....but if you're going to plan for that scenario then you need to plan that we all become Gods and have little slaves to do our every whim.
However, I do own some silver. More or less a hobby though.
I certainly would and i'm sure many others would too over even Bitcoin.
Historically,it has been accepted as money for thousands of years longer than Government fiat paper money has.
I take it for spot . I accept it for eggs and other things .
Copper is @ around $3.08, one yr oil forecast is about $90 , oil around $ 78 3/4 , Brent Crude around $ 84 3/4 , heating oil , around $ 2 1/2 , Nat Gas around $ 4 and a nickel , wholesale gasoline ,$2.12 , gasoline where I was today ,$2.96 , first time under $3 in years .Gold , about $1166 , Silver about $ 15.93 , Platinum , about $1223 , Palladium , about $798 .
This site has some pretty mind-numbing thought experiments on money and describes it as being "unreal".
http://www.uhuh.com/unreal/moncur.htm
Unfortunately my mortgage company, insurance company, gas station, food store, electric company, etc. won't take gold or silver - except at face value.
http://www.uhuh.com/unreal/moncur.htm
Unfortunately my mortgage company, insurance company, gas station, food store, electric company, etc. won't take gold or silver - except at face value.
Gaddafi Duck
Member
- Joined
- Apr 11, 2011
- Messages
- 494
My dealer says that silver is dropping because the demand for it in industry (esp. for film, etc.) is down due to the "digital age". I would think some entrepreneur coming up with a new use for silver could change this.
You think ZippyJuan is Peter? And all these years I thought he was Ben B!
Did digital cameras not exist 3 years ago when silver was nearly $50?
It's like when people say oil is going down because of fuel efficient cars....really?? So in the past 3 months when oil has gone from $100 to $75, it was due to the market just figuring out fuel efficient cars exist?
Nah, assets go up and down in price radically. As Jim Rogers said, it is not unusual for markets to go down 50% from their all-time highs. All time high for gold was $1920s...so, if gold goes to $1000/oz, that may be the bottom.
Similar threads
