I feel another smack down coming

Hell I hope not Jim, I just bought 20 1oz SilverTowne bars. Lol Keep stacking Lol
 

Marchas45 said:
Hell I hope not Jim, I just bought 20 1oz SilverTowne bars. Lol Keep stacking Lol
Click to expand...

With what happened in the last two days in Washington
I personally think the S has officially HTF
Do you have any idea of what your electorate is actually doing?
It can NOT get any clearer in my mind that the bloated politicians are not in the least bit interested in
the well being of the country or it's citizens. Both sides of the aisle are betraying you, your children
and many generations to come. I will keep stackin
Color me silver poor if I'm wrong!
 

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I had a good laugh today on another forum and made this. Keep Stacking

 

Smack down might not be the name for what's happened over the last 90 minutes. Gold has dropped 15 bucks, Silver dropped 31.something to 29.59. What is tomorrow to bring, or next week, or next month? We might not see 30 dollar silver again in our lifetimes.
 

lost said:
Smack down might not be the name for what's happened over the last 90 minutes. Gold has dropped 15 bucks, Silver dropped 31.something to 29.59. What is tomorrow to bring, or next week, or next month? We might not see 30 dollar silver again in our lifetimes.
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I believe that they will push silver down as far as they can, but the question is how far is that? At some point the trend will go back upward. Some commentators say that the big shorts will become big buyers once they decide to change directions and will push things up. Maybe that will coincide with more inflation from all the QEs?

As far as them pushing silver lower, there are a few different scenarios with respect to how that would play out. If the big short sellers keep driving the price lower in the paper markets, at some point they will be called on to deliver large amounts of silver via futures contracts, etc. As the price gets lower and lower, more and more large physical buyers will stand for delivery and at that point the sellers have to deliver at that paper price. They will have a hard time finding large amounts of bullion at 25 bucks I believe. If they ever cannot deliver that will be a default and would cause much negative attention to the situation and would cause silver to really take off. I see that as how the physical price is going to break from the paper price some day. It will most likely be some sort of failure to deliver physical bullion and having that news come out.

If that ever happens it will be too late to buy. If the above happens, the price will blast up and eventually get to 100 in my opinion. Beyond that I have no idea.

Other support for silver's price is the increasing use in industry: solar, medical, electronics, etc. Mining costs are going up as far as labor, fuel and electricity costs.

But the REAL reason silver is headed up eventually is because they doing so much QE and printing all over the world. This can only be inflationary down the road and if they do it long enough and in great enough numbers hyperinflationary.



Jim
 

Guess What Lost, I just Seen $30.00 again. If your in it for profit I suggest you get out as it will only drive you crazy. I'm in it for the long Haul and Survival not Profit. Keep Stacking.
 

I gave in and bought a roll of Eagles today for 1.30 over spot. I got in near the low today so I feel pretty good even though I still think we will get lower in the coming week(s) but I just look at that as a gift.

Jim
 

Charlie....just a few minutes ago I saw where it went to 30 something. I thought, "Uh O, someone is going to call me on my past post". And you did. lol. No problem. Remember a few months ago I told you I was going to sell all my silver junk when it hit 35 and never look back? I'm a man of my word. By throwing in a few rolls of Mercury's to sweeten the deal, my PM buyer paid me 35. It's been gone for months. I even punched out the non-key and semi's dates in dime, quarter and Franklin folders, cleaned out the hide out boxes of throw away junk silver coins, the sock full of silver dimes and quarters my wife had stashed away (she doesn't know they are gone yet, so shhhhhh on that), rolled them up all nice and neat, put them in my backpack, staggered across a parking lot, twice, up 3 floors of a bank building where I had a scheduled price deal appointment with the PM buyer, and it all turned into a nice cashier's check for a mid five figures and change. 15 minutes later it was deposited in my investment account in a different bank. Yes, I pay taxes. Been there, done that with the IRS. Never again. All done with Silver. Still have a modest coin collection along with more silver dollars, mercury's and walking liberty halves that I would care to admit to having. I'd like to incorporate some of them into a Coffee Table top. But, that would probably get stolen. Saw one in Texas in a commercial setting, with guards. So, I'm good. Took my profit. Got some serious figuring ahead on how much I had in those coins and how can I prove my figures, but I'll get there. Been hoarding silver since '64. While here, on a side sad note, my PM buyer died a few weeks back. Didn't even see him in the local obit's. Thought he looked good for a 5' 6" 400 pound man who chained smoked. He was an Attorney who PM'd on the side. Sell Charlie, Sell. lol. Profit is good. Makes you sleep well at night.
 

lost said:
Charlie....just a few minutes ago I saw where it went to 30 something. I thought, "Uh O, someone is going to call me on my past post". And you did. lol. No problem. Remember a few months ago I told you I was going to sell all my silver junk when it hit 35 and never look back? I'm a man of my word. By throwing in a few rolls of Mercury's to sweeten the deal, my PM buyer paid me 35. It's been gone for months. I even punched out the non-key and semi's dates in dime, quarter and Franklin folders, cleaned out the hide out boxes of throw away junk silver coins, the sock full of silver dimes and quarters my wife had stashed away (she doesn't know they are gone yet, so shhhhhh on that), rolled them up all nice and neat, put them in my backpack, staggered across a parking lot, twice, up 3 floors of a bank building where I had a scheduled price deal appointment with the PM buyer, and it all turned into a nice cashier's check for a mid five figures and change. 15 minutes later it was deposited in my investment account in a different bank. Yes, I pay taxes. Been there, done that with the IRS. Never again. All done with Silver. Still have a modest coin collection along with more silver dollars, mercury's and walking liberty halves that I would care to admit to having. I'd like to incorporate some of them into a Coffee Table top. But, that would probably get stolen. Saw one in Texas in a commercial setting, with guards. So, I'm good. Took my profit. Got some serious figuring ahead on how much I had in those coins and how can I prove my figures, but I'll get there. Been hoarding silver since '64. While here, on a side sad note, my PM buyer died a few weeks back. Didn't even see him in the local obit's. Thought he looked good for a 5' 6" 400 pound man who chained smoked. He was an Attorney who PM'd on the side. Sell Charlie, Sell. lol. Profit is good. Makes you sleep well at night.
Click to expand...

So what do you plan to do with the money now if you plan to "invest" it? If I liquidated all my silver, I wouldn't know what else to put the money into for the mid term that is in my opinion as safe as PMs (at least for the next 2-5 years maybe more).

Jim
 

I'm almost ashamed to admit this, but the money is still sitting in an interest bearing checking account earning 0.diddly%. And that's not the worst news. Also sitting in that same account is the money I got from selling the house I inherited from my Dad. I didn't want to sell the house but the area was being developed for a mid-size Box Store and retail/office complex and Dad's house was sitting in the middle of the proposed main entrance. Turning down assessed price plus one third didn't take but seconds for me to decide. Paying the leased renter's 3K to quit the lease and move out was also a no brainier and a bargain for me. I'm rambling. Pain medication kicking in. Or it could be the 1mg Xanax I'm taking for depression and anxiety. Maybe the dish of chocolate Ice Cream I just ate while typing.

But to answer your question about what to do with the money? I'm too screwed up to do anything. Over the last six or so months I've had my second knee replacement, the lower right third of my lung removed (pre cancerous tumor but still called non cancerous), broke my left foot and had pins put in, infected, second operation to remove pins. Healed, then more pins put in. Meanwhile I'm on Oxycontin for pain and my mind is so screwed up I don't trust myself to invested in a bag of popcorn much less any type of financial market.

The money isn't going anywhere and easy for my wife to find, in case. I'm 73. Besides this past election my country turned socialist. Tuesday it took another turn I can't even begin to fathom. Right now I feel the only safe investment is in bullets. Re-reading this post tells me the Xanax isn't working. Must be the Oxycontin. I'll probably have to go to drug re-hab before I'm well.
 

Well good luck to you Lost at least your honest but for me to sell? Never, I'm looking at the future not the present or the profit. Lol Sorry to hear about your health, hope you get better sooner and try and get off those drugs as soon as possible, sooner the better. I take an aspirn and I go nuts, Lol just a figure of speech. God Bless you Lost and Good Luck, Charlie
 

Marchas45, your video is awesome! I love your accent, and your lose language!

I am currently in Stack mode - we'll see how the world goes 'round.
 

Thanks Charlie, you know I'm just kidding about you selling. Know you would never do that. But, just as a matter of interest, at what price of silver spot would you sell while ignoring your survival theory?
 

lost said:
Thanks Charlie, you know I'm just kidding about you selling. Know you would never do that. But, just as a matter of interest, at what price of silver spot would you sell while ignoring your survival theory?
Click to expand...

I will only sell or barter if and when the SHTF but if that scenario doesn't happen and our world seems to be getting back to normal then I may sell it no matter what the price is at the time. I do sell occasionally to get some Fiat to pay for much needed supplies but only in that scenario.
The dollar is getting weaker all the time and eventually it's not going to be worth very much as you can tell by going to the stores. People believe that the price of food is rising but their wrong in my opinion, it's the dollar getting weaker and my oz off silver is getting stronger.
 

You are right Charlie. Today's dollar don't get you much and it's only going to get worse. Around here a breakfast of two eggs, two stripes of bacon, or sausage, toast and one cup of coffee will cost you around 10-12 bucks. A coffee re-fill maybe, if you have the right server. With a tip, your breakfast might come to 15 bucks. The dollar looks, feels and spends like toilet paper. But, it's the coin of the market place and that's the only thing accepted if you want your clothes or biscuits.

No politics allowed but I speculate in the next 3-6 months I expect the worlds entire financial market to go to hell. Your stack will probably help pull you through a bad time until it all shakes out. After my mind clears up and the next financial cliff passes in March I'll go back into Gold. Understand that market better than it's little sister Silver. Done very well in the past. I'm thinking fractional coins this time. You can get them closer to spot. That is, depending on how this next crisis shakes out. Or, I may buy Turnip Futures as their annalists writers say their shares are "going to the Moon." lol. Plus, I'm still sitting on a lot of silver dollars, WLH's and Mercury's. Good luck with your stacking.
 

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