So Silver is over $24/oz....

emt1581 · 10-13-2010, 15:12

So for the 3rd or 4th straight week in a row Silver once again has went up ANOTHER point/dollar per ounce. What in the hell is going on here that it's going up that much every WEEK!?!?!

I know our economy is going to hell in a hand basket but it seems like something made the process speed up. So what's happened/happening to cause such a thing to happen? I'm looking for specifics...not just the typical..."we can't sustain things as they currently are".

Thanks!

-Emt1581

SilverCity · 10-13-2010, 15:17

Quote:

Originally Posted by emt1581

So for the 3rd or 4th straight week in a row Silver once again has went up ANOTHER point/dollar per ounce. What in the hell is going on here that it's going up that much every WEEK!?!?!

I know our economy is going to hell in a hand basket but it seems like something made the process speed up. So what's happened/happening to cause such a thing to happen? I'm looking for specifics...not just the typical..."we can't sustain things as they currently are".

Thanks!

-Emt1581

Check the markets. Dollar down. Gold at all time high. Silver is following suit. Both act inversely to the dollar. Oh, and we are on the verge of a currency war...

http://www.breitbart.com/article.php...show_article=1

Not complicated.

SC

emt1581 · 10-13-2010, 15:23

Quote:

Originally Posted by SilverCity

Check the markets. Dollar down. Gold at all time high. Silver is following suit. Both act inversely to the dollar. Not complicated.

But are you saying that there's no real (specific) reason for the recent rise in relation to the dollar?

Your market example might work on the whole/overall but my stocks are actually consistently going up in value...not down.

-Emt1581

SilverCity · 10-13-2010, 15:31

Quote:

Originally Posted by emt1581

But are you saying that there's no real (specific) reason for the recent rise in relation to the dollar?

Your market example might work on the whole/overall but my stocks are actually consistently going up in value...not down.

-Emt1581

Your stocks are going up because the Federal Reserve is pumping money into the market to prop it up prior to the elections. This happens around every election. Think of it as a "false flag" to distract the public from the disaster that is about to hit the U.S....the crash of the economy, the real estate market, and U.S. banking system.

Just wait until after the elections...

http://www.walletpop.com/blog/2010/1...spreads-to-49/

Okay, now it's getting complicated.

SC

emt1581 · 10-13-2010, 15:41

Quote:

Originally Posted by SilverCity

Your stocks are going up because the Federal Reserve is pumping money into the market to prop it up prior to the elections. This happens around every election. Think of it as a "false flag" to distract the public from the disaster that is about to hit the U.S....the crash of the economy, the real estate market, and U.S. banking system.

http://www.walletpop.com/blog/2010/1...spreads-to-49/

Okay, now it's getting complicated.

SC

But you just said the markets are down...so how does that play into the whole...stocks going up due to money pumping idea?

Complicated or not...seems like the reasons you mentioned are the currency war and the markets. Right?

Thanks!

-Emt1581

SilverCity · 10-13-2010, 15:45

Where did I say the stock market was down? I said the DOLLAR is down.

http://www.kitco.com/market/

SC

emt1581 · 10-13-2010, 15:59

Quote:

Originally Posted by SilverCity

Where did I say the stock market was down? I said the DOLLAR is down.

http://www.kitco.com/market/

SC

You said check the markets then dollar down. I guess I misinterpreted that.

But back on track...what happens after the election...statistically speaking?

And there's no other event that took place to cause what we're seeing other than the currency war and money pumping?

I just figured something else would cause the rapid decrease in the dollar's value.

-Emt1581

VBG23 · 10-13-2010, 17:14

Quote:

Originally Posted by emt1581

I just figured something else would cause the rapid decrease in the dollar's value.

-Emt1581

Listen, you are going to get tons of answers from everyone under the sun ranging from Obama did it to Bush did it to aliens did it.

The easier answer is click below to see why the dollar is falling in value so fast
http://www.usdebtclock.org/

The more dollars there are, the less each one is worth. Every dollar printed by ANY ADMINISTRATION subtracts value from the dollars in your pocket.

Keeping that in mind, recent news regarding the Fed intentionally increasing inflation is going to send PMs skyrocketing and the dollar plummeting even faster. Read the article, they want to intentionally cause inflation to force you to spend your money before it is worth less (translation:worthless).
http://www.bloomberg.com/news/2010-1...t-economy.html

Whatever asshat thinks that is a good idea should be tried for treason

On a related note, start reading Schiff, Celente and Faber because they predicted the collapse of '08 and have been predicting currency wars followed by a collapse of the dollar for months if not years now. Current headlines read like lines from their prior articles.

VBG23 · 10-13-2010, 17:29

Also, I said a few weeks ago that "the sign" of an impending collapse would be a parabolic rise in PM prices. You were the one that commented that silver has been rising $1 a week for a while, not me. Silver hasn't had a major pullback since about $5 ago (to be honest I wish it would so I could get more on the cheap). However, it certainly seems like the beginning of something major doesn't it?

The measures of economic instability continue to rise and the measures of the dollar continue to plummet. The only reason the DOW keeps rising is because of inflation and manipulation. I will even stick my neck out and make a prediction: sometime after the elections, the DOW will plummet tremendously because the "too big to fails" will only prosper under a democraticly controlled congress willing to give massive bailouts. This will prompt them to cease the manipulation they are currently engaged to make it appear that returning conservatives (read Tea Party) to washington will be a bad idea.

If you don't buy the "manipulation" theory, why is it that insider trading shows over 1000-1 are withdrawing money and mutual funds have been hemoraging cash as everyday people are pulling their money out as well.
http://www.zerohedge.com/article/pag...ate-hit-80-bil
So if everyone is pulling money out of the market so fast, how is it still going up?

Very few, if any, companies are fundamentally more sound today than they were 10 years ago. We have played so fast and loose with the financial system, banks cannot even foreclose no some houses because no one can find the actual title.

Let me put this into your head if you "own" your house: If BoA cannot find the title to legally foreclose on your neighbor's house, what makes you think they can find the title to hand you when you pay off the loan? Without the title you will never fully own your property.

Ok, now cue someone who will tell me I am just being negative and all of our fundamentals our sound........

phil evans · 10-13-2010, 19:35

if there is rampant inflation,
if the fed prints more dollars,
where should i put my discretionary funds?
in canned goods, silver coins, paper dollar bills?
tangible things such as materials, hardwear, food preps, silver coin, mutual funds, sundries.

SilverCity · 10-13-2010, 19:53

Quote:

Originally Posted by phil evans

if there is rampant inflation,
if the fed prints more dollars,
where should i put my discretionary funds?
in canned goods, silver coins, paper dollar bills?
tangible things such as materials, hardwear, food preps, silver coin, mutual funds, sundries.

Bob Chapman sez:

Gold coins, silver coins and bullion, 3 months cash, "assault" weapons, mags & ammo, freeze dried food, water filters....if you have lots of money, quality mining shares, numismatics. Leave the country. Prepare for violent revolution if November election does not succeed in turning this country around.

I agree with Bob. I would add, get right with your Maker.

SC

Dennis in MA · 10-13-2010, 21:56

Buy vintage playboys. Every post-SHTF swinging-D will need em.

. . . fed pumps up the market before an election.

That's a new one on me.

SilverCity · 10-13-2010, 22:19

Quote:

Originally Posted by Dennis in MA

Buy vintage playboys. Every post-SHTF swinging-D will need em.

. . . fed pumps up the market before an election.

That's a new one on me.

Pay attention, Dennis.

Don't believe the markets are rigged by our own government?

Executive Order 12631 signed by Ronald Reagan in 1988. The "President's Working Group On Financial Markets". We know them as the "Plunge Protection Team". Guess who is on that team: The Secretary of the Treasury, the Chairman of the Federal Reserve, The Chairman of the Security and Exchange Commission, and the Chairman of the Commodity Futures Trading Commission.

And what do you think it is they do?

In this crucial upcoming election, TPTB can see the writing on the wall and I bet they are pulling out all the stops to keep this market solvent...at least until after the elections.

SC

**kirgi08** · 10-13-2010, 23:21

tagged.

emt1581 · 10-14-2010, 01:07

Holy crap!! Government doing or not...now it's kissing 25!!! In less than 12 hours since it hit 24!! What in hell's bathroom is going on here?

-Emt1581

VBG23 · 10-14-2010, 05:48

Quote:

Originally Posted by emt1581

Holy crap!! Government doing or not...now it's kissing 25!!! In less than 12 hours since it hit 24!! What in hell's bathroom is going on here?

-Emt1581

I just told you...

wjv · 10-14-2010, 10:11

Quote:

Originally Posted by phil evans

if there is rampant inflation,
if the fed prints more dollars,
where should i put my discretionary funds?
in canned goods, silver coins, paper dollar bills?
tangible things such as materials, hardwear, food preps, silver coin, mutual funds, sundries.

While I like Silver, I'd put food before anything else.

- 3+ months of food (6+ is even better)
- 1-2 basic firearms + ammo. Even a couple .22s are good!
- Some cash in safe at home in case there is a bank "holiday"
- Only then can you can start thinking about PMs

VBG23 · 10-14-2010, 10:26

Quote:

Originally Posted by bcvojak

while i like silver, i'd put food before anything else.

- 3+ months of food (6+ is even better)
- 1-2 basic firearms + ammo. Even a couple .22s are good!
- some cash in safe at home in case there is a bank "holiday"
- only then can you can start thinking about pms

+1....

emt1581 · 10-14-2010, 10:27

Quote:

Originally Posted by bcvojak

While I like Silver, I'd put food before anything else.

- 3+ months of food (6+ is even better)
- 1-2 basic firearms + ammo. Even a couple .22s are good!
- Some cash in safe at home in case there is a bank "holiday"
- Only then can you can start thinking about PMs

I think food/safe water is crucial!! I've got a gun or two and some ammo. But where I would have agreed but now you lose me is the cash at home idea...

Previously I would have said to have money socked away. Stacks of bills just in case of a SHTF. However, given that the SHTF seems likely to be those bills becoming worthless...I'm not sure that is the best idea any more.

-Emt1581

rwrjr · 10-14-2010, 10:51

Quote:

Originally Posted by emt1581

I think food/safe water is crucial!! I've got a gun or two and some ammo. But where I would have agreed but now you lose me is the cash at home idea...

Previously I would have said to have money socked away. Stacks of bills just in case of a SHTF. However, given that the SHTF seems likely to be those bills becoming worthless...I'm not sure that is the best idea any more.

-Emt1581

They can double as pre-cut toilet paper in your scenario. Although I'd run them through the washing machine first. No telling what creepy crawlies are on them.

emt1581 · 10-14-2010, 10:54

Quote:

Originally Posted by rwrjr

They can double as pre-cut toilet paper in your scenario. Although I'd run them through the washing machine first. No telling what creepy crawlies are on them.

In MY scenario? I get the joke but were you denying what we're seeing as far as the USD losing value rapidly?

-Emt1581

Big Bird · 10-14-2010, 10:58

Does the Federal Reserve do its trading online through Scwab or Ameritrade or do they use a broker?

Where are the securities held?

rwrjr · 10-14-2010, 11:03

Quote:

Originally Posted by emt1581

In MY scenario? I get the joke but were you denying what we're seeing as far as the USD losing value rapidly?

-Emt1581

Nope, I agree that the greenback is dropping like a rock. Me thinks something is afoot. I'll know for sure in about three weeks.

Tangibles are king. The priority you assign to different classes of tangibles is up to you. Hopefully you guess right and if not you'll have plenty of time to brush up on the age old skill of bartering.

emt1581 · 10-14-2010, 11:07

Quote:

Originally Posted by rwrjr

Nope, I agree that the greenback is dropping like a rock. Me thinks something is afoot. I'll know for sure in about three weeks.

Tangibles are king. The priority you assign to different classes of tangibles is up to you. Hopefully you guess right and if not you'll have plenty of time to brush up on the age old skill of bartering.

Personally, I'm pouring a ton of money into home repairs. That way, other than needing electricity and water, I'm as independent as possible.

But aside from that, there are several tangibles which have proven themselves in bad times, some we've been talking about for a long time.

-Emt1581

wjv · 10-14-2010, 16:15

Quote:

Originally Posted by emt1581

Stacks of bills just in case of a SHTF. However, given that the SHTF seems likely to be those bills becoming worthless...I'm not sure that is the best idea any more.

-Emt1581

Didn't say "stacks" of bills. In any currency crisis there will likely be a time when you will have zero access to your money in the bank (bank holiday / bank closings). Odds are that debit can credit cards will also be frozen. During the early days no one will take PMs. You will need to go to a dealer, cash in you PMs, then spend the money.

It is much easier if you have $500 or so stashed away in the safe that you can quickly access so that you can buy a tank full of gas and a trunk full of food. Despite the dollar crashing, there will always be people willing to take worthless pieces of paper, just as they have been trained to do all their lives.