What's Up with Silver?

[Root]

Wise people have said that when metals and oil are both in a sustained spiral downward beyond what most would see as reasonable market movements, SHTF is very soon. Signs of the paper games unwinding. Keep watching them both. Same happened in 08.

A fun website to track western paper metal prices vs eastern physical metal prices
http://www.didthesystemcollapse.com

I struggle with some of these concepts, but that being said I added 100 oz of silver today.

I remember a recent Ron Paul Liberty Report where he basically said not to worry so much about the spot price, but be concerned with how many ounces you have for when the dollar finally dies.

 

[oyarde]

I have some but I keep buying it .

 

[Zippyjuan]

I struggle with some of these concepts, but that being said I added 100 oz of silver today.

I remember a recent Ron Paul Liberty Report where he basically said not to worry so much about the spot price, but be concerned with how many ounces you have for when the dollar finally dies.

How much is "enough"? How many month's worth of income would you like to be able to live off of it if the dollar became worthless? Six months? A year? More?

Let's say you make the median income of $50,000 a year. After taxes, say $40,000. Six months would be $20,000 or at $18 an ounce would be over 1,000 ounces. (about 75 pounds of the stuff).

 

[oyarde]

How much is "enough"? How many month's worth of income would you like to be able to live off of it if the dollar became worthless? Six months? A year? More?

Let's say you make the median income of $50,000 a year. After taxes, say $40,000. Six months would be $20,000 or at $18 an ounce would be over 1,000 ounces. (about 75 pounds of the stuff).

Well, you cannot be a silver Baron until you have more than 1000 ounces . I say go all in

 

[Zippyjuan]

I know based on your posts that you have a fine collection of shiny metals!

 

[Root]

How much is "enough"? How many month's worth of income would you like to be able to live off of it if the dollar became worthless? Six months? A year? More?

Let's say you make the median income of $50,000 a year. After taxes, say $40,000. Six months would be $20,000 or at $18 an ounce would be over 1,000 ounces. (about 75 pounds of the stuff).

1000 ounces sounds like a good start!

 

[Lord Xar]

First off, I am SUPER surprised Zippy is asking about Silver.....

Second, any of you also buying Gold, or just keeping with the Silver?

 

[devil21]

First off, I am SUPER surprised Zippy is asking about Silver.....

Zippy didn't post the thread but Zippy has repeatedly over the years asked the "how much is enough?" question when threads like this are posted. FUD methinks.

Second, any of you also buying Gold, or just keeping with the Silver?

Buy what you can afford. Walk in the footsteps of giants. Btw, good to see you still around Xar.

 

[Root]

I'm sticking with silver for now.

For the silver bugs... which do you prefer? .999 pure silver or pre-1964 constitutional US coins?

 

[devil21]

Wise people have said that when metals and oil are both in a sustained spiral downward beyond what most would see as reasonable market movements, SHTF is very soon. Signs of the paper games unwinding. Keep watching them both. Same happened in 08.

A fun website to track western paper metal prices vs eastern physical metal prices
http://www.didthesystemcollapse.com

Ahem! Looks awfully like the start of those movements happening now.

 

[Dforkus]

Ahem! Looks awfully like the start of those movements happening now.

I'm genuinely interested in why you think this...

Predictions of bottoms, tops, and imminent apocalypses have come and gone..

so why now? and at what point will we know that it hasn't (or has) happened?

 

[Krugminator2]

I'm genuinely interested in why you think this...

Predictions of bottoms, tops, and imminent apocalypses have come and gone..

so why now? and at what point will we know that it hasn't (or has) happened?

Doomsdayers do think March 15th is a significant event because of a few different elections like the Netherlands. It doesn't matter what will happen in the elections.

Buying silver or oil randomly right now and holding for the first up close vs the previous day will show a solid long run profit. If you bought half now and bought either a gap down Monday or Tuesday, the odds of the trade working in either commodity are around 85%.

 

[devil21]

I'm genuinely interested in why you think this...

Predictions of bottoms, tops, and imminent apocalypses have come and gone..

so why now? and at what point will we know that it hasn't (or has) happened?

A lot of things converging together. Some economic, some political, some esoteric. Krugminator mentioned elections as one example. Debt ceiling is another. Rate hike too. Ides of March? Commentators on CNBC, for example, are turning negative. Both metals and oil turning down sharply somewhat in unison. Just a few examples.

 

[oyarde]

First off, I am SUPER surprised Zippy is asking about Silver.....

Second, any of you also buying Gold, or just keeping with the Silver?

Yes , I buy some gold and keep some . I buy gold when it is 1200 or under .

 

[oyarde]

I'm sticking with silver for now.

For the silver bugs... which do you prefer? .999 pure silver or pre-1964 constitutional US coins?

I like some of both . Any .999 I usually get in Silver Eagles but keep more 90 % , I even have a little Sterling ( 92.5 ) coins but I do not suggest it for others . I also have a few 50 % ( modern canadian silver dollars ) , 40 % (San Fransisco Mint Ike dollars ) and 35 % ( War nickels , 1942 - 1945 ) coins and a few 10 % Mexican silver Pesos ( 1950's ) .