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  1. #21  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by malloc View Post
    I'll have to look into that. I might be too late to buy into gold and silver now, but the next time I see a bubble forming somewhere I want to know how to get into it.
    I don't think that it's too late. We're still printing money at an astonishing rate, and if interest rates rise at all, federal debt is going to go berserk. Commodity prices are rising, and food prices are especially volatile. If oil increases, and I suspect that it will when the Kuwaitis start rioting (or paying their TCN workers to riot, since Kuwaitis never do anything for themselves), things will get ugly. If Silver doesn't hit $40 per ounce by December, I'll be surprised.

    I started buying silver at $15 and change per ounce, against my wife's wishes (or orders). When the price hit $26 an ounce, I showed her that I'd made an average profit of $5 per ounce, and recommended that we continue buying, but she dug in her heels. But, when the currency goes belly up, I will have the Pyrrhic victory of saying that I told her so.
    --Odysseus
    Sic Hacer Pace, Para Bellum.

    Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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  2. #22  
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    Quote Originally Posted by Odysseus View Post
    I don't think that it's too late. We're still printing money at an astonishing rate, and if interest rates rise at all, federal debt is going to go berserk. Commodity prices are rising, and food prices are especially volatile. If oil increases, and I suspect that it will when the Kuwaitis start rioting (or paying their TCN workers to riot, since Kuwaitis never do anything for themselves), things will get ugly. If Silver doesn't hit $40 per ounce by December, I'll be surprised.

    I started buying silver at $15 and change per ounce, against my wife's wishes (or orders). When the price hit $26 an ounce, I showed her that I'd made an average profit of $5 per ounce, and recommended that we continue buying, but she dug in her heels. But, when the currency goes belly up, I will have the Pyrrhic victory of saying that I told her so.
    We are probably due for a pullback; silver went up almost 8% this week. A 15 to 20% drop in price would be a good time to buy. That is what I am waiting for. However, with the turmoil in the M.E., prices of silver and other commodities may continue to go up. The way it is going, I would not be surprised to see it at the fifty dollar mark this year. Booyah.
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  3. #23  
    Senior Member Tecate's Avatar
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    I was reading an article last week (probably can't find it now) that said silver is the most shorted commodity in the history of anything ever. JP Morgan alone has 25% of all the shorts against silver. This is all paper of course, and not physical. As more and more physical sliver is hoarded and removed from the market, a real supply squeeze could develop and drive the price up very high.

    If you look at the historic silver:gold (16:1) ratio, as in when it was actually in the coins that people spent as real money, silver should be ~$88.43 oz this very moment.

    When this happened 31 years ago silver peaked at ~$50 and gold at ~$850. That ratio comes to 17:1. It could be pure coincidence, but interesting nonetheless.

    People who shit on owning gold and silver don't know history. Fiat paper money not backed by precious metals is always inflated to it's true value of zero. There are no exceptions. It has happened more times throughout history than anyone can count.
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  4. #24  
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    Silver up 4.21% today ...$35.67 an ounce.. on its way to 50. Great balls of fire and pass the ammunition.:D
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  5. #25  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by lacarnut View Post
    Silver up 4.21% today ...$35.67 an ounce.. on its way to 50. Great balls of fire and pass the ammunition.:D
    I've started a few small side projects with my artwork, and Mrs. O has agreed that I can do anything that I want with what I make from those. I just finished a paperback cover and put the proceeds into silver. Unfortunately, it was a small publisher, so it didn't pay much, but it's still better than nothing.
    --Odysseus
    Sic Hacer Pace, Para Bellum.

    Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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  6. #26  
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    Quote Originally Posted by Odysseus View Post
    I've started a few small side projects with my artwork, and Mrs. O has agreed that I can do anything that I want with what I make from those. I just finished a paperback cover and put the proceeds into silver. Unfortunately, it was a small publisher, so it didn't pay much, but it's still better than nothing.
    Good deal Lucille and here is hoping that your side projects take off like a sidewinder missile.
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  7. #27  
    Senior Member Tecate's Avatar
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    How high can it go?

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  8. #28  
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    Quote Originally Posted by Madisonian View Post
    Back in the late 80's and early 90's following the advice of a financial "guru" I knew, I started buying a 10 ounce bar of silver a month. I did this for about 3.5 years.
    When silver bottomed out about 92-93, I quit figuring that I was just throwing my money away watching it go from the 6 to 8 I was buying for down to less than 4.
    They ended up in the safe and just basically forgotten about until late last year when I wondered just how much silver I had.
    Over 400 ounces later I am now wondering whether to hold out for 40-50 or cash in at 30 for a decent, if not delayed, profit.
    It's been a while since Madisonian asked the question. But I do have a thought.

    Pick a sell price and stick with it! Just can't find a big enough font to make that point. You have a nice profit. The world, and history for that matter if full of people who had a profit and did not decide to sell. Detroit is full of ex-GM millionaires. There is a time to sell, and that time is when you say so. Pick it!
    I remember back in about '73 everyone was making a killing in silver, then they ALL LOST THEIR PROFIT!
    I remember back in '78 everyone was making a killing in gold, and THEY ALL LOST THEIR PROFIT!

    Pick your sell point today.
    Last edited by Starbuck; 03-24-2011 at 09:58 PM.
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  9. #29  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by TruckerMe View Post
    It's been a while since Madisonian asked the question. But I do have a thought.

    Pick a sell price and stick with it! Just can't find a big enough font to make that point. You have a nice profit. The world, and history for that matter if full of people who had a profit and did not decide to sell. Detroit is full of ex-GM millionaires. There is a time to sell, and that time is when you say so. Pick it!
    I remember back in about '73 everyone was making a killing in silver, then they ALL LOST THEIR PROFIT!
    I remember back in '78 everyone was making a killing in gold, and THEY ALL LOST THEIR PROFIT!

    Pick your sell point today.
    The problem is, where do you park the fiat federal reserve notes when the US dollar is headed for the pooper?

    It might be prudent to recover your initial investment at some point, but this situation is quite a bit different than the late 1970's - early 1980's. There are over $650 trillion in global derivatives and that's a lowball number. Some claim it's 2-3 times that.

    I sure wish I had a crystal ball... To be honest, I'd rather not own precious metals at all, but how in the hell do you protect yourself from a debased currency that we are forced to accept through legal tender laws?
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  10. #30  
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    Quote Originally Posted by TruckerMe View Post
    It's been a while since Madisonian asked the question. But I do have a thought.

    Pick a sell price and stick with it! Just can't find a big enough font to make that point. You have a nice profit. The world, and history for that matter if full of people who had a profit and did not decide to sell. Detroit is full of ex-GM millionaires. There is a time to sell, and that time is when you say so. Pick it!
    I remember back in about '73 everyone was making a killing in silver, then they ALL LOST THEIR PROFIT!
    I remember back in '78 everyone was making a killing in gold, and THEY ALL LOST THEIR PROFIT!

    Pick your sell point today.
    My sell price will be $150 because Uncle Ben is printing money like I have never seen in my lifetime. Thus, the value of the dollar is going one way and that is down. If by some miarcle, this trend reverses, that could signal a sell.

    Your point is well taken though. Investing is like gambling. Sometimes you win...sometimes you lose. In my case, I am so far ahead that a 50% drop would only put a dent in my profit.
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