Posted on 05/05/2011 5:13:44 PM PDT by Nachum
At this rate, tomorrow, for the first time, we will see a 32 handle in Comex registered silver ounces, where apparently despite the massive drubbing in paper silver, demand for physical inexplicably persists.Speculators to be blamed for this in 5...4...3...
(Excerpt) Read more at zerohedge.com ...
Just in case you were wondering if it was still worth it to own metals...
Buy Physical, screw anything made of paper unless it comes in rolls and is for the bathroom.
The list, ping
Let me know if you would like to be on or off the ping list
I need to apologize to you folks. Last week I actually contemplated going out to purchase some silver. I had decided to do so, then changed my mind.
The commodity curse that follows D1 around, strikes again.
What I glean from this, is that when D1 has determined that a commodity price can’t do anything other than go up, it is guaranteed to tank.
Even the news that China had decided to sell 2/3rds of it’s dollar holdings, couldn’t defeat the curse of D1, as it relates to commodities.
if true, seems to me this current collapse in silver price is temporary. I wonder just how temporary it will be though. If I am to start buying, when should I start? At 30bucks? 25bucks?, or should I have started this afternoon?
I don’t know why in the the hell anyone would want to own ‘paper’ metals.
If I buy Silver or Gold, I want to have my hands on it!
thats easy.
because there is shipping charges and issues with where to keep it.
Pardon my ignorance, but does this suggest that there is not enough physical silver to back all the paper shares that are out there, like in the move “The Producers”?
One would think if a person can afford to purchase enough of it to the point of storage being an issue, they shouldn’t have a problem acquiring storage. Anybody can buy a good heavy fire rated safe(s) for $2,000 or less.
There is really no good answer. The drop is obviously due to market manipulation on the large traders, but it has not at all affected individual buyers of the actual physical metal.
If one was to wait, I would think that ‘bottom’ would be any price that has been steady for at least a few days- or if there is a new sudden uptick. -Having said that, the metal is still underpriced today as the currency flounders.
Hell if I know.... I don't trade in anything. I just loosely watch all the markets for amusement if anything else. I know enough to know that I don't know enough to trade, without losing my ass in the process. I'd have as much faith in a Vegas casino.
Well, you knew enough not to buy silver last week. So that’s something.
*
Exactly.
In my minds eye I see Zero Mostel aka Ben Bernake trying to slip the NY Times reviewer aka China an insulting twenty.
Did the Hunt brothers finally get out of the slammer? Or are they dead?
What I glean from this, is that when D1 has determined that a commodity price can’t do anything other than go up, it is guaranteed to tank.
D1, my friend, you need to learn how to make Murphy's Law work for you. As soon as I made sure my wife and I would be OK if I got laid off from my work, I guaranteed I'd never be laid off. Even when I wanted them to do it.
You aren’t using your head. All that eats into your profit. Buy paper and there’s nothing to eat into your profit.
Yes, but you must trust in the paper...and that defeats the entire idea of buying precious metals.
LOL!
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