Posted on 11/22/2009 6:16:11 PM PST by Daisyjane69
Looks like it's up $$ 11.60 right now. I was thinking there were some contracts expiring today or something like that.
Agreed. If you have gold to sell, sell it soon. Plow it all back into silver.
Hey, did I post this in the wrong forum? It’s in General Chat? Now how did I screw that up?
I think you’re right about the bubble. This time I decided that I’d get in early... ;)
I also wonder sometimes if the Lord is motivating me. I mean, out of the blue I suddenly needed silver like a man in the desert needs a drink of water. It was odd and hit out of nowhere.
MONEX has it at $1150 right now. Hope it keeps going up. Unfortunately, that may prove there is no longer any trust in the US dollar.
is canned food next?
I suggested last week to my UBS financial advisor that we buy more GLD. He told me we should wait until it falls back into the $90 - $100 range again. I’m thinking we’ll never see that range again for some time and if we buy in now we’d at least get another 10%. I’m starting to think I need to take some eHarmony compatibility test with this guy to see if we’re on the same wavelength. He also told me last week the recession is over which is something I don’t believe.
Silver is now vastly underpriced compared to gold.
Gold has already passed it’s nominal (1980) high of 950 or thereabouts, and silver hasn’t even come close to the 45 dollar range.
We Golbugs will find anyone anywhere who wants to talk about gold, LOL! :)
Maybe the mod moved it. Why it wouldn’t be in breaking news is beyond me.
Option expiration was Saturday. However, it was not the contract delivery date for the futures (the next one is in December).
This is just the beginning of the double dip and they see it coming.
The eventual downgrade of our debt from AAA is now a lot closer and if that happens it will be devastating.
This is a ringing endorsement of the Bamster and his economic policies.
What do you think is a safe amount for a WTSHTF scenario (in terms of face value of the coinage)?
Fortunately, I've got that market cornered! Bring on the bubble!! :-)
Oh, and to all who say silver is the play, not a bad idea, IMHO. The two metals don’t always track parallel. I bought a lot of silver about 3 years ago at $9+/ounce, on a dip. At that time it was trading at a 1:77 ratio vis a vis gold. I feel comfortable with a 1:50 ratio as being the proper relationship. I have seen it as narrow as 1:33. If it ever gets anywhere near that low ratio again, I’ll trade it all in for gold. Acquiring more gold via this strategy has been a pet move of mine for over 35 years.
The great thing about silver is that you will always be able to spend it on the black market. For this reason, I believe the US Eagle 1 oz coins are always going to be universally accepted. There are also Philharmonics and Leafs, but their per-coin premiums can be a bit higher. I have made up my mind to stay away from the private mintmarks on 1 oz rounds, even though they are slightly less expensive.
You didn't ask me, but I'll stick my face into your conversation.
Take #1 - Two major governments bought massive amounts of Au. They have major heft and are influential players in the market and now have a vested interest in gold doing well. Logically, a lot of the smart money is following them.
Take #2 - The dollar is becoming unreliable.
Take #3 - Paper instruments are becoming unreliable.
Take #4 - Western governments are devaluing their respective currencies by creating new fiat money at an unprecedented rate.
Take #5 - Certain governments, organizations and individuals want to cover their asse(t)s and protect their wealth in an uncertain and volitile economic climate.
Take #6 - America which is (for now at least) the center of attention, has low-rent version of Jimmy Carter as her president, with a collectivist, statist legislature egging him on. Few investments look any good with such disoriented freaks on the loose.
Take #7 - Impending inflation.
My apologies for butting into your conversation.
I’m long Spam.
>>If a person wanted to buy two pounds of 24kt gold, could they have that shipped to them or pick it up at a bank somewhere?
Sure, you can have it shipped directly to you.
Is stockpiling Spam on the Hawaiian Islands a worthy endeavor for you? ...
but remember, a pound of gold is a Troy pound.
That’s 12 troy ounces, not 16.
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