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Gold, Silver other PMs taking a major dump today

Discussion in 'The Furball Forum' started by Dragline, May 8, 2012.

  1. robertoh

    robertoh

    2,143
    0
    Oct 28, 2004
    Ohio
    When Obama's inflation kicks in about this summer from all the trillions the Goverment is printing you'll see Gold and Silver and many other commities jump in price.
    I was a young married man when President Carter helped to almost sink America.And lot of things that happened then are happening now also. Some gold and silver in your closet won't hurt a thing.
     
  2. M2 Carbine

    M2 Carbine

    21,448
    4,607
    Dec 21, 2002
    Texas
    Along with a couple years supply of food and ammo. If nothing else it's better than money in the bank.


    Silver is at $28.39 right now.
    http://www.providentmetals.com/bullion/silver/us-slv/ase.html

    Those American Silver Eagles are really pretty.:)
     


  3. Atlas

    Atlas transmogrifier

    12,512
    11
    Oct 1, 2001
    north of the equator
    I hope, I hope, I hope, gold drops at least another 40 - 50% in the near future!!!
     
  4. Dragline

    Dragline

    3,489
    806
    Nov 5, 2003
    Coastal SC
    Is that because you want to buy a bunch of it?
     
  5. cowboy1964

    cowboy1964

    19,675
    2,121
    Sep 4, 2009
    U.S.A.
    I think the U.S. dollar may have a pretty good next 12-24 months as the Euro collapses. But long term it's doomed.

    Gold under $1400 and silver under $25 is going to be really, really tempting. It may not even go that low though.
     
    Last edited: May 15, 2012
  6. cowboy1964

    cowboy1964

    19,675
    2,121
    Sep 4, 2009
    U.S.A.
    Sure. You apparently have no idea the depth of the problems nor the resistance to real change that he will meet (IF he even tries in the first place).

    http://usdebtclock.org/

    Didn't it seem like just a few months ago the debt passed $14 trillion? We're now closing in on $16 trillion.
     
    Last edited: May 15, 2012
  7. Atlas

    Atlas transmogrifier

    12,512
    11
    Oct 1, 2001
    north of the equator
    If so then I may get my wish. :cool:
     
  8. Dennis in MA

    Dennis in MA Get off my lawn

    42,700
    2,807
    Aug 16, 2001
    Taunton, MA
    Romney didn't fire nearly enough people here AND raised ever fee in the flipping state by at least double. Oh, but he didn't raise taxes. :upeyes:
     
  9. Little Joe

    Little Joe Platinum Member

    7,201
    1,110
    Dec 28, 2007
    At The Ready
    Romney is definitely not the answer, but I'd rather try a new idiot over the one we've got.
     
  10. AK_Stick

    AK_Stick AAAMAD

    17,366
    1,053
    Jan 20, 2004
    Alaska, again (for now)

    I don't know about the "very few are selling actual gold and silver" I see more than I could ever buy on the market
     
  11. cowboy1964

    cowboy1964

    19,675
    2,121
    Sep 4, 2009
    U.S.A.
    Well, looks like this latest buying opportunity is over. Silver up 4% so far today.
     
  12. bobby_w

    bobby_w Alienigena Platinum Member

    1,633
    0
    Nov 10, 2001
    South of Houston
    Not arguing, but it is still a good buying opportunity. Always buy on the dips and this is still a dip.
     
  13. certifiedfunds

    certifiedfunds Tewwowist

    51,963
    4,417
    Apr 23, 2008
    Houston
    For the gold haters and the people who are so sure they've called "the bubble":

    Can you explain to us all why the gold bull market started in 2001, long before the collapse of 08?
     
  14. Paul7

    Paul7 New Guy

    14,957
    1,418
    Dec 16, 2004
    East of Eden
    Gold has beaten the old man from Omaha 9 of the last 10 years. Are you smarter than him? He's anti-gold (unlike his father) because he's so in the tank for Obama. People getting into PMs would be an indication the economy isn't right.

    I have yet to have it explained to me how we pay off $15 trillion ($25 trillion in 10 years) in debt other than default or continued currency debasement.
     
  15. Paul7

    Paul7 New Guy

    14,957
    1,418
    Dec 16, 2004
    East of Eden
    What if you had bought Kodak instead?

    What you don't understand is it isn't hype, it is a worldwide rejection of fiat money. Central banks today are still buying gold like crazy. You must have great faith Obama is going to fix everything.

    The recent PM drop is because the dollar is temporarily rising from people fleeing the Euro.
     
  16. Paul7

    Paul7 New Guy

    14,957
    1,418
    Dec 16, 2004
    East of Eden
    Even if true, the US is only a small part of world gold demand. I will vote for Romney and think he will do less damage than Obama, but I don't expect real structural change, even Reagan couldn't do that. Any real reform proposals will be met with riots in the street like Greece, by people who vote for a living.
     
  17. Paul7

    Paul7 New Guy

    14,957
    1,418
    Dec 16, 2004
    East of Eden

    Nobody is saying gold will do better forever. In the '80s and '90s, stocks were the place to be. Since 2000, gold is, and IMHO that won't change for the next 5+ years.

    Gold fell in 1980 because Volcker put a lid on the money supply and interest rates went up to 15%+. What would those rates to to our servicing our $15 trillion debt?
     
    Last edited: May 18, 2012
  18. voyager4520

    voyager4520 -----

    8,589
    0
    Apr 25, 2009
    SE Colorado
    I've wanted to sell my high school class ring for scrap gold, I think I'll do it soon before the price drops any more. It's down like $100 in one week.
     
  19. certifiedfunds

    certifiedfunds Tewwowist

    51,963
    4,417
    Apr 23, 2008
    Houston
    First, we don't have to pay it off. It is easily serviced. Safe harbor - that could change.

    Secondly, paying it off is very simple and can be done in one generation with cuts and growth.

    The problem is, no one is willing to cut and the cards are being stacked against the kind of robust growth needed due to taxes and spending.