close

Privacy guaranteed - Your email is not shared with anyone.

Welcome to Glock Talk

Why should YOU join our Glock forum?

  • Converse with other Glock Enthusiasts
  • Learn about the latest hunting products
  • Becoming a member is FREE and EASY

If you consider yourself a beginner or an avid shooter, the Glock Talk community is your place to discuss self defense, concealed carry, reloading, target shooting, and all things Glock.

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

Discussion in 'Survival/Preparedness Forum' started by emt1581, Oct 13, 2010.

  1. cowboy1964

    cowboy1964

    19,758
    2,157
    Sep 4, 2009
    U.S.A.
    The dollar won't become "worthless" but it will continue to lose value, and probably at an accelerating pace though I'm not predicting hyperinflation. I suppose the good news is that any debts you have will also be priced in devalued dollars. Still, at this point (and going forward) I'd prefer to be debt-free as much as possible.
     
    Last edited: Sep 13, 2012
  2. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    I think that is the only....Silver lining....

    But without hyper inflation it's not like a roll of rounds are going to be able to pay off a house anywhere in the 6-figure range.

    And the world population as a whole seems dead set against using PM's as money in favor of unbacked paper. So I don't know if returning the the Gold standard is anywhere in the realm of possibility.

    I'm just waiting to see $20 loaves of bread and $50 gallons of milk. Again, not exactly hyper inflation but can you imagine?!? I mean accounting for inflation over the last century...maybe you can...

    In any case, I broke out a 10oz Engelhard to fondle tonight. :supergrin:

    -Emt1581
     

    Last edited: Sep 13, 2012

  3. UneasyRider

    UneasyRider C.D.B.

    4,011
    3
    Dec 1, 2005
    Agreed. We announced to the world today that our intention is to print our way out of this thing we are in and they have been taking it for granted that our money is stable. Well we are not even hiding it anymore so metals and other currencies should do well against the dollar until this runs it's course. Those teachers in Chicago are going to need a much larger raise!
     
  4. Warp

    Warp ΜΟΛΩΝ ΛΑΒΕ

    16,304
    297
    Jul 31, 2005
    Atlanta
    Since we are in the S/P section, yes, this is the beginning of the end.


    For the 7483929 time.
     
  5. wjv

    wjv

    13,802
    1,228
    Jan 17, 2002
    Pacific NW
    Gold is at 1776. . . . . .
    An Omen?
     
  6. No, not an omen, just a result. QE 3 is upon us.


    Cat
     
  7. walt cowan

    walt cowan

    10,781
    1,369
    Feb 18, 2005
    Absurdistan
    silver is under valued by at least 45 times the current price.
     
  8. rwrjr

    rwrjr

    891
    0
    May 25, 2007
    Northern VA
    Sources?
     
  9. Warp

    Warp ΜΟΛΩΝ ΛΑΒΕ

    16,304
    297
    Jul 31, 2005
    Atlanta
    Uh-huh
     
  10. Isn't that just a great theory? I love it.

    Be nice if it actually works out that way. :)


    Cat
     
  11. cowboy1964

    cowboy1964

    19,758
    2,157
    Sep 4, 2009
    U.S.A.
    I laugh whenever I hear "$20,000 gold!" or "$2000 silver!". You can't search YouTube without seeing those all over the place.

    If that happens then gas will be $200 a gallon, etc. The real purchasing power of gold/silver is fairly constant over time, give or take.

    [​IMG]
     
    Last edited: Sep 19, 2012
  12. In 1964, silver was at #1.21 per troy ounce. Aroy ounce of siklver could make 5 1964 quarters (90%) silver.

    A gallon of gas cost 25 cents in 1964.

    Now, 48 years later, a gallon of gas costs $4.02 and silver is valued at $34.66 per troy ounce. It would take one troy ounce toi make five 1964 quarters (still after all these years) and a single 1964 quarter is valued at $6.24. In other words or in another way of looking at it, that sqame 1964 quarter would now buy buy one and a half gallons of gas.

    tangible value is just that, it's tangible, while fiat currency is soon to be worthless.

    I am converting my worthless fiat currency in my savings account into silver and gold as fast as possible. Not as an investment but because i want to transport whatever wealth i have today into whatever replaces the dollar sometime in the future.
     
  13. cowboy1964

    cowboy1964

    19,758
    2,157
    Sep 4, 2009
    U.S.A.
    My problem is I don't know what to do with my 401k. That's the bulk of my net worth. I can probably put some of it into mining stocks but ugh. In the meantime, Apple and Google are doing me right. Apple, Microsoft, and others are sitting on hundreds of billions in cash. Wonder how they are protecting their cash wads?
     
    Last edited: Sep 19, 2012
  14. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    Isn't that 45 time figure only if paper silver's bluff got called? I just remember seeing that with those "JP Morgan is going to collapse" weird cartoony guys that banter back and forth.

    -Emt1581
     
  15. wjv

    wjv

    13,802
    1,228
    Jan 17, 2002
    Pacific NW
    Ferfal's experience in Argentina was that silver/gold appreciated SLIGHTLY better than the inflation rate.

    His example (working from memory here) was that if X amount of silver could buy 1 loaf of bread before the collapse, then afterwards it was buying 1.25-1.5 loaves of bread.

    No one got rich holding PMs, but they either maintained, or increased their buying power by a bit. But there was no buying a mansion for 2 ounces of silver, and staffing it with a harem of slave girls. . .
     
    Last edited: Sep 20, 2012
  16. SilverCity

    SilverCity

    443
    0
    Mar 9, 2007
    The Old West
    Last edited: Sep 21, 2012
  17. pugman

    pugman

    6,101
    258
    May 16, 2003
    Wisconsin
    There has been manipulation in markets since there were markets.

    In reality, I don't want $35/oz silver either. In the same way, no one wants $300/barrel oil. If silver hit $40 or $45 an oz would you sell? How about $100?

    If you are buying silver like I am its a two fold position. 1) I already max out my 401K and Roth contributions, I fund a HSA and pay at least one extra mortgage payment a year. My silver purchases are just another investment I feel will pay off in the future 2) Its my security blanket. If the world goes the way I think it will hard commodities (or really anything other than fiat currency) will be king.

    The one thing I noticed about the article was this "The cartel understood the predicament they were in, and responded with a massive paper dump on the market to stuff price back below $35."

    How much physical gold and silver is out there to back the paper?
     
    Last edited: Sep 21, 2012
  18. pugman

    pugman

    6,101
    258
    May 16, 2003
    Wisconsin
    In short they aren't.

    Depending on what you think might happen companies like Apple, Google etc are in a pretty bad position since their revenue streams are based off techonological based products.

    Bill Gates knows this. I remember reading an article several years ago about his personal financial consultant whose job it is every day to sell something like 50,000 shares of Gates's stock...I don't quite remember the number.

    As of August, 2009 he owned 725 million shares so sheading 1.8 million shares a year sounds about right.

    Google, Apple, MSFT can't run a successful business model thinking the economy is going to crash - simply because if it does, I think people might be more focused on food than downloading songs to their iphone. I know SOME people see this as a necessity....
     
  19. SilverCity

    SilverCity

    443
    0
    Mar 9, 2007
    The Old West
    Paper is the ONLY way they can control the silver market or any market for that matter. Estimates by GATA are that paper contracts (in the form of derivates) exceed bullion by as much as 100 times.

    Wife and I are all in. I don't plan on ever selling. I'll give it to to my kids/grandchildren when I die.

    Good luck with your paper, folks...



    SC
     
    Last edited: Sep 22, 2012