Originally posted by jude11
aah so grasshopper!

So buy a house with it rather than trade for cash and before it crashes!

Wipe on...Wipe off!

True wisened one, but this grasshopper is hoping that if one holds metal until the new system forms then its purchasing power will be much greater than the time when last $ price was recorded.

What you say is very interesting though because it is for this very reason that we are going to see more volatility in the $ prices leading up to collapse. Big fast drops followed by steady rises will become more pronounced as people think "uh oh, bubble burst". Then the final spike to the moon and a price lock with one last grab in the form of mandatory selling of private gold to the fed (we will be offered the locked price). By this time we will entering the hyper inflation phase so you'd better convince someone to sell you things for paper pretty quick before confidence in the paper is fully lost. After that It will be illegal to hold gold, any hoards will have to be VERY well hidden for quite some time.

lol, sorry to ramble on about this but I find the whole subject of precious metals fascinating, the whole notion of using a material to store wealth has so many contradictions in it that explores so much about this worlds current plight.

Well all I wear is silver and the cost going up is making it unaffordable to buy!

They are even putting diamonds in silver now because it's cheaper than gold...that I don't mind

Originally posted by mblahnikluver
Well all I wear is silver and the cost going up is making it unaffordable to buy!

They are even putting diamonds in silver now because it's cheaper than gold...that I don't mind

Diamonds? Didn't hear that but I guess that tells us the true value of the coal.

hmmm...wonder what deBeers is up to these days?

I still think silver is highly undervalued!
Troughout time gold/silver ratio has been about 1/15. Now it more like 1/40.
So gold is about 15 times rarer than gold.

60% off all silver mined, goes straight to manufacturing and silver is so cheap its not recycled while all gold is recycled.

So my opinion is gold/silver ratio should be about 1/6 meaning 250/oz.


edit: silver now 37,75/oz

Originally posted by Kelmi
I still think silver is highly undervalued!
Troughout time gold/silver ratio has been about 1/15. Now it more like 1/40.
So gold is about 15 times rarer than gold.

60% off all silver mined, goes straight to manufacturing and silver is so cheap its not recycled while all gold is recycled.

So my opinion is gold/silver ratio should be about 1/6 meaning 250/oz.


edit: silver now 37,75/oz

edit on 24-3-2011 by Kelmi because: edit to add

I can say that I hope you are right.

It will be very interesting to see where it ends today.

Wow just broke 38.00 and ounce.

When I first joined ATS, there were at least 5 threads a week where people would try to discourage others from buying gold and silver.

"You can't eat it!", they'd holler. Yet, there was no apparent reason, nothing particularly newsworthy, for the need to create an entire thread about it.

The conclusion I came to, was that, (at least some of), these people probably wanted to buy precious metals themselves, and posting a thread or ten a week on forums, potentially reaching tens of thousands of people, might just help keep the price down long enough to get a bit more in their greedy little pockets.

Now silver, because of its abundance, probably shouldn't really be riding the nearly parabolic rocketship along with gold, but most don't know this and want to make a buck, so they react. I forget what it reached back in the 80's when the market got nearly cornered, but I think it was around $50t.

Most of mine I got at $6 oz., so to those that used to say I couldn't eat it.... well... it is what it is .

Take a bite!






Peace

Would you look at it go? I'd rather it dipped one more time so I could buy more. I'm not in a hurry to cash it in, so I'd rather have more. Come on silver, just one more dip...

To my mind, having some gold and silver in rounds or small bars is not such a bad idea. Suppose your local area gets hit with a Katrina-size disaster, or something like the Japan tsunami. Your home is destroyed, and for a couple of weeks you have no access to bank accounts, etc. What are you going to do for money? If you have some precious metal in a bug-out bag, once you get to an unimpacted area, you'll at least be able to purchase a few essentials.

Silver is closing in on $37.20 nearby support (well above yest low over $1 lower fr there)....but Gold broke yest low and $1436 is now repelling it. I noticed a lot of euphoria at the highs....and that is what it takes for a temp top.

Originally posted by LS650
To my mind, having some gold and silver in rounds or small bars is not such a bad idea. Suppose your local area gets hit with a Katrina-size disaster, or something like the Japan tsunami. Your home is destroyed, and for a couple of weeks you have no access to bank accounts, etc. What are you going to do for money? If you have some precious metal in a bug-out bag, once you get to an unimpacted area, you'll at least be able to purchase a few essentials.

Even better is 90% silver but there are a lot of dummies who dont know that 1964 was the last year that our coins (dimes thru half dollars) were minted with 90% silver....and most will recognize silver eagles where it states the weight and fineness (but dimes, qtrs and halfs allow for smaller purchases than a full 1 ounce).

Originally posted by AmethystSD
Would you look at it go? I'd rather it dipped one more time so I could buy more. I'm not in a hurry to cash it in, so I'd rather have more. Come on silver, just one more dip...

It's dipping a little right now. Wait til closing is my guess....my GUESS.