Originally Posted by cowboy1964
The problem with the $54 historical high for silver was it was a phony high, caused by the Hunt brothers trying to corner the market. At one point they had half the world's deliverable supply. Later the price crashed 50% in one day.
I don't view precious metals as an investment (though they are a good one right now). I view them as insurance. I buy/sell all mine through EBay. When buying you're not going to find a local dealer that will be cheaper. When selling you'll pay 9% commission to EBay. That's about the best you'll be able to do.
The problem is, how do we know that the same situation is not in play today? There have been several reports recently of attempts or successes in manipulating PM prices in the market.
Back in the day, it was the Hunt Brothers that manipulated the market. Who is to say it is not Soros or some other wealthy person, family, or saavy investment firm jacking with the market. In some ways it is easier, and in some ways it could be harder. I know that where there is a will there is a way. These people do not care about the damage they do to others. They do not care if they damage the economies of whole countries or of the world, as long as their personal economy is better off. In some cases the damage they do is part of what they are trying to achieve, in addition to making themselves more money.