Metals skyrocketing again.

Silver is just about to hit 50 bucks an ounce. The price is shooting up tonight.

49.72 for silver

and

1517.30 for gold.

Wonder whats going on.

Originally posted by mayabong
Silver is just about to hit 50 bucks an ounce. The price is shooting up tonight.

49.72 for silver

and

1517.30 for gold.

Wonder whats going on.

The end of America, that's what's going on.

It's over.

Bernanke screwed America beyond repair.

The only way to save America is arresting those people and hanging them.

Hm I shoulda packed a lunch. Maybe I'll go buy all the Ramen noodles from the store. I could probably live off of those for a while.

very wild 50 cent swings at a time.

I was telling my wife not 5 hours ago that I bet silver will hit $50 by tomorrow. Looks like I was right.

I also told her that'd be the breaking point of America, as well. Next couple days should prove very interesting, in a Chinese curse kinda way

Think it's interesting, as well, that ol' not-so-Gentle Ben will be holding a press conference on Tuesday, for the first time in the history of the Fed.

Ahhh interesting indeed

Up almost $1 in the last 10 minutes..

5 Min Chart

Originally posted by Jomina
I was telling my wife not 5 hours ago that I bet silver will hit $50 by tomorrow. Looks like I was right.

I also told her that'd be the breaking point of America, as well. Next couple days should prove very interesting, in a Chinese curse kinda way

Think it's interesting, as well, that ol' not-so-Gentle Ben will be holding a press conference on Tuesday, for the first time in the history of the Fed.

Ahhh interesting indeed

"Chinese curse". Was that a pun?

Either way, you're right on target.

I have very little knowledge of how the prices of gold and silver affect America's economy and such...

If anyone is willing to give me a brief understanding of how this price hike will mess things up, please go ahead

I would like to see a REAL explantion as to why it is shooting up, and it's effect. I don't see this as being any reason to think America is going to collapse or end, I know that silver has hit all time highs before and America was fine, but I want to see the brass tacks about it, no speculation.

Well, quite simply if silver hits $55 an ounce, it will cost US$55.
Therefore people will have to pay more for it.... .. . ...
How will this affect my mortgage?
I owe in US dollars, when the cash crashes, i will trade my good toilet paper for greenbacks.
Then i will pay off what i owe.
I owe US dollars.
Not yen, not ruples, not....Etc.
Let the cash crash.

reply to post by space cadet


Well, if my understanding is right, it means basically this:

1. It's not so much that the value of silver is going up, it's that the value of the dollar is going down, based on trading/speculations in world markets that are currently open (basically eastern europe, Russia, China, and Japan).

2. This devaluation of the dollar will likely have an effect on the US stock market today. What was interesting this last week is that it dropped on Monday after the "negative" announcement came out, but then it went up pretty much the rest of the week. People are still trying to figure that one out, as apparently it shouldn't have done that. My thoughts are that we'll see a dip in the stock market today, in part because China is considering dumping a good portion of the US debt it holds (not sure if the 10 senators that flew to China had any luck dealing with that issue or not).

reply to post by notsofunnyguy


Stock market is traded in dollars, too. The value of McDonalds, Walmart, GE, Exxon, etc isn't necessarilly going up, but the value of the dollars they're traded in is sure as hell going down right alongside gold, silver, oil, and all the other commodities. I heard someone on the radio last week claim that the "real value" of stocks is approaching an all time low. I do not know if that was a subjective statement, or if there's an actual way to track the so-called "real value." of various publicaly traded stocks. If there is, I was unable to find it on the net.

Silver at $50 an ounce won't cripple America... it's just a symptom of the real disease. That disease being saturation of the market with freshly printed dollars and devaluation of the currency. The infectious strain is Ben Bernanke and the Federal Reserve and, by God, we need one hell of a fever to kill it off before the body succumbs to the disease they caused.

Originally posted by burdman30ott6
I heard someone on the radio last week claim that the "real value" of stocks is approaching an all time low. I do not know if that was a subjective statement, or if there's an actual way to track the so-called "real value." of various publicaly traded stocks. If there is, I was unable to find it on the net.

Fred tweaks the CPI to allow for weighting changes made under the Clinton admin, but even when using gubmnt's "official" numbers, the 'real' inflation adjusted DJIA is still trading below the 1999 high.

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