Sell Everything Else and Buy Silver

Lights · Nov 1, 2011

They said the same about housing. What is equally disturbing is the amount of open derivative positions (ie futures, ETFs) to underlying physical. Sounds eerily similar and setting up for event.

Quote from Joe Doaks:

As a chartered gold bug I just can't let this pass. Repeat after me: "Gold and silver are real wealth. The amount of fiat either PM will buy simply reflects real inflation or inflationary expectations. There can be no bubbles in PM, only bubbles in fiat."

Joe Doaks · Nov 1, 2011

Quote from Lights:

They said the same about housing. What is equally disturbing is the amount of open derivative positions (ie futures, ETFs) to underlying physical. Sounds eerily similar and setting up for event.

I agree with you that derivatives will be the dearth of us. But a house is a decaying source of wealth even with stable money. And if mine were falling around my ears in a disaster, my long-suffering wife could easily hump its weight in gold out in her bugout bag. Just have to remove a few pounds of ammo from it.

Humpy · Nov 1, 2011

I can't really see silver taking off. It looks nice when someone takes the trouble to clean it but it isn't a must-have industrial metal and never will be.

Joe Doaks · Nov 1, 2011

Quote from Humpy:

I can't really see silver taking off. It looks nice when someone takes the trouble to clean it but it isn't a must-have industrial metal and never will be.

I think that's western world bias (I'm guilty). Lots of places historically and currently prize silver more than gold as a store of personal wealth. Commodimetric valuation of silver takes this into account.

Candace · Nov 1, 2011

Gold stocks did well today. Einhorn and others predict gold stocks will shine.

http://www.bloomberg.com/news/2011-...-beat-gold-after-substantial-disconnect-.html

There was also a goldbug on BNN today saying that if gold did not reach $2000 by April he would shave his head. Right now at least, it does not appear that Faber's prediction of $1100 gold is coming anytime soon.

Your call still looks good.

Debaser82 · Nov 1, 2011

Quote from Candace:

Gold stocks did well today. Einhorn and others predict gold stocks will shine.

http://www.bloomberg.com/news/2011-...-beat-gold-after-substantial-disconnect-.html

There was also a goldbug on BNN today saying that if gold did not reach $2000 by April he would shave his head. Right now at least, it does not appear that Faber's prediction of $1100 gold is coming anytime soon.

Your call still looks good.

My goldstocks went from -15% to green...

Joe Doaks · Nov 1, 2011

Quote from Candace:

Gold stocks did well today. Einhorn and others predict gold stocks will shine.

http://www.bloomberg.com/news/2011-...-beat-gold-after-substantial-disconnect-.html

There was also a goldbug on BNN today saying that if gold did not reach $2000 by April he would shave his head. Right now at least, it does not appear that Faber's prediction of $1100 gold is coming anytime soon.

Your call still looks good.

My call? I wasn't aware that I had your number. Head shaved at 2000? If SI doesn't make 45.45USD by then I will shave my balls. You can line up CNBC. And I will buy miners when the miners own the countries that own the mines.

ajcrshr · Nov 5, 2011

CFTC Commissioner Bart Chilton:
"I believe that thereâs been violations of the law, The Commodity Exchange Act.
Theyâve taken place in the silver market and I think any such violation, of course, should be prosecuted to the full extent of the law. I believe there has been repeated attempts to influence prices in the silver market. And thereâs been fraudulent efforts to persuade and deviously control the price.â

http://kingworldnews.com/kingworldn...ere_is_Manipulation_in_the_Silver_Market.html

Candace · Nov 16, 2011

Quote from Joe Doaks:

...And I will buy miners when the miners own the countries that own the mines.

I thought of this comment when I heard this morning that the Chinese company Shandong Gold is buying Jaguar Mining. Shandong Gold to buy Burkina Faso, Mali or Tanzania next?

Shandong Gold Offers to Buy Jaguar Mining for $1 Billion

SHANGHAIâState-owned Shandong Gold Group Co. of China has offered to buy Brazilian gold miner Jaguar Mining Inc. for $1 billion, a person familiar with the matter said Wednesday.

The deal is the latest reminder of demand in China for the world's commodities. A deal in gold suggests that demand extends beyond resources China lacks, such as soybeans and iron ore, because China is the world's biggest gold producer.

http://online.wsj.com/article/SB10001424052970203611404577041842827925470.html:)

Joe Doaks · Nov 16, 2011

Quote from Candace:

I thought of this comment when I heard this morning that the Chinese company Shandong Gold is buying Jaguar Mining. Shandong Gold to buy Burkina Faso, Mali or Tanzania next?

Shandong Gold Offers to Buy Jaguar Mining for $1 Billion

SHANGHAIâState-owned Shandong Gold Group Co. of China has offered to buy Brazilian gold miner Jaguar Mining Inc. for $1 billion, a person familiar with the matter said Wednesday.

The deal is the latest reminder of demand in China for the world's commodities. A deal in gold suggests that demand extends beyond resources China lacks, such as soybeans and iron ore, because China is the world's biggest gold producer.

http://online.wsj.com/article/SB10001424052970203611404577041842827925470.html:)

The Chinks shouldn't buy property anyplace they can't conveniently invade. Today's pseudo-democratic oligarchy of wealth can easily become tomorrow's nationization-hungry autocracy. Argentina? Peru? Hard times can make any LA country a Venezhulahoop.