Silver is sinking like the TITANTIC

[mts]

well how long until its not corrected... lmao i want it to go back up, and i want real answers. people gve alot of BS on here that they just read, and its just ear candy... obvious by how everyone thought it wouldnt go down a penny, and "never" go below $45. HA!

Looks like there are an awful lot of "old crows" on here that are "eating crow" right now. Enjoy it while it lasts. Some of these jerks had the audacity to claim you couldn't know what you are talking about because you are too young! In the meantime, they proved that they don't know what they are talking about (because they are too old?). That includes me as well.

But I hear you. There are people on here who will announce that silver SHOULD be $100 to $150 right now as if it is gospel. All the while they have come to this conclusion based on the following misguided principles:

1) The original 15:1 gold to silver ratio - This was price manipulation at its finest. When the government stopped fixing the price, the gold to silver ratio changed dramatically. Why anyone would assume that this ratio has any meaning at all in modern times is baffling to me.

2) Inflation adjusted price from 1980's - The Hunt brothers created a temporary price anomaly for a couple of months back in the 80's. Yet people continuously use this wacky price to calculate the current inflation adjusted price. It makes no sense. If silver went up to $2000 tomorrow on false info that a meteor was going to take out Manhattan, would it then make sense to use this price blip to say that silver should rightfully be $4000 an ounce 20 years from now?!? Why don't people quote the inflation adjusted price from 1960? 1970? 1990? 2000? I guess we all know the answer to that question now don't we?

3) The current price of gold - So many people assume that the current price of gold is correct. But what if gold should really only be $750 an ounce instead of $1500? Even using that mythical 15:1 gold ratio you'd find that silver should really be $50 an ounce. Who knows what gold will do tomorrow or next week.

Now don't get me wrong. I'm bullish on both gold and silver. What gets me are people who "KNOW" that silver is going through the roof simply because they've read a few bullish outlooks and have decided to pick and choose what they want to believe. Then those same people go on to tell someone like Brendan that he doesn't know what he is talking about because he is too young. Whatever.

I have no problem admitting that I have no idea where silver is going to go tomorrow or next week. I'm bullish long term so it doesn't really matter to me. But some of you need to stop the wishful thinking and start thinking for yourselves. If you are using any of the three principles above as justification for why silver MUST be going to $100+ an ounce, perhaps you should step back and consider your beliefs a bit before trying to tell everyone else that silver has nowhere to go but up. It may indeed go up long term. Or... it could also go down. I'm happy to admit that I'm not smart enough to know what it is going to do. And that's not because I'm too young to know any better at 42 years old...

 

Amazon Forum Fav 👍

A Handbook of Civil War Bullets and Cartridges - Grab it through Amazon!

[mts]

well how long until its not corrected... lmao i want it to go back up, and i want real answers. people gve alot of BS on here that they just read, and its just ear candy... obvious by how everyone thought it wouldnt go down a penny, and "never" go below $45. HA!

You know I don't usually get upset at anyone on here but your starting to irritate the heck out of me as I have lost a bunch of money this past week along with a bunch of other folk and the only way we can get it back is if it goes back up. So please stop saying I told you so.

Marchas,

Unless you sold for a loss you didn't lose. Don't worry, silver will go up way farther than it has ever been this past week someday in the future. It may take a couple of years, but there is no way they can ever fix the dollar/debt situation here. No group of people (seniors, middle class, rich, etc) want to give up any benefits or goodies they now have, so I doubt there will be any cuts, just more inflation and printing until the machine eventually breaks down. At that time gold/silver will be the asset to own. I am kicking myself for not buying into a leveraged, bear silver etf when it hit near 50. I was 99 percent sure it was gonna correct due to the incredible rise in the past few weeks. Gains like that always correct in any market, but it doesn't mean that the bull run is over. So like you, I lost money too if you count lost opportunity costs.

I am actually glad silver is correcting because I stopped buying in the low 20s and want to buy more. This might be your last chance to buy more silver at a lower price. I am waiting until under 35 to start dollar cost averaging again as/if it falls. I had a chance to buy some Maples when silver was 27 for a buck over spot and thought that was too much to pay, I regret not buying them now that is for sure. If I ever believe we are near a bottom again I plan to go all in with my investment $$$$$ in silver and not buy anymore gold, which I am heavy now compared to silver.

What I have said in other posts on the CRHing forum is whatever you do don't become a "kool aid" drinker. By that I mean just because a site may stand for things you believe in (such as PMs being a great asset, etc), don't believe everything they say. Some people like to recite what they read like it is gospel truth and it is just some article writer's view. I always like to read articles and views that directly contradict my core beliefs. Sometimes you can gain valuable knowledge that way and get a better, more balanced picture of what really is happening even when you disagree with almost everything said writer is saying in his/her article.

Jim

Once again I'll give Jim a hearty "amen"! Brendan, if there is one thing I've learned out here it's that Jim4Silver knows what he is talking about. Read his posts carefully. He is wise beyond his years.

 

[Treasure_Hunter]

I remember in 1999 when they said gold would hit a $1000 and people said they were crazy......Look where it is today..... Metal Market is going through a correction, good news (this time it's Bin Laden's death) always drives down the precious metals, bad news makes it rise......

 

[Dave44]

Oh my the bull really does fly in this thread.
Mts you pay more credit than may be due for what- age, gut feeling, ideals? Think about the new percentages they charge the speculators and wonder if it slowed down trading!

Brendan you need to pay attn and not fall for the scare tactics of the lemmings. Being right for the wrong reasons does not make you prescient. Really. What will you say when it goes back up, that it looked inevitable also? You are on the cusp of the New Future. Pay close attention to events as they unfold. Try to think long term. Really long term. Because when you are young you look at 30 as unattainable.

Read as much as you can, America has never been on this particular cliff before. Randy man has done a lot of work here. Have you read it? I for one thank you Randy for showing me what I had already thought was true. And I see many articles that corroborate this!

 

[TheRandyMan]

This article will explain to you many things that you may not be aware of...and possibly why silver will not be bottoming out until $30 or maybe even less...

This seems to be a pattern much like the movie starring Bill Murray where he gets trapped in a day which keeps repeating itself until he gets it right. With the Comex however it seems to be a matter of seeing how many small specs (and even some larger ones) they can take out of the silver market so as to make certain that the perma shorts (which by the way are voting members at the exchange) can recoup the entirety of their paper losses they suffered as silver roared higher from down near $26 back in January of this year.

For the second time in a week, and for the FOURTH time in two weeks, the exchange is once again hiking margin requirements for trading silver. Actually, it will be FIVE Times in less than 3 weeks with Monday's hike.

This time it advances to $18,900 from the current $16,200 effective as of the close of business tomorrow or Thursday. Maintenance margin jumps to $14,000 from $12,000. Hedgers are facing an increase as well but it is to maintenance margin levels.


If that were not enough, then come Monday the margin rate gets hiked AGAIN, jumping to $21,600 with a new maintenance margin of $16,000. At current silver values, that amounts to more than 10% of the total value of a single silver futures contract if you want to play.

Obviously this is going to produce even more volatility as the small specs exit the market, most of them being unable to afford to trade it except for all but the specs with the deepest of pockets. A lot of the small guys are probably already wrung out but those who might have been long from lower levels and were unaffected by the margin hike due to the paper profits they might have from being long at a lower level could be at risk if this market continues dropping.

This is ostensibly designed to protect the integrity of the clearing houses as well as giving some brokers the cover they need to hike margins on their clients to protect their own firms in the event of trades gone sour. Keep in mind that these are MINIMUM MARGIN REQUIREMENTS. Brokers are free to set customer margins wherever they wish as long as they meet minimum. That means they could go to $25,000 or even $30,000 per contract if that is what their firm feels more comfortable with.

I suspect however that there is more here than keeping the integrity of the clearing houses. It is too much too fast given the already steep decline in the market. It smells like a deliberate effort is being orchestrated to take the metal lower and rescue the shorts who as I said previously, are voting members of the exchange and who could no longer handle the bleeding of their accounts.

Nothing like transparency and free markets....
Dan Noricini

Knowledge is Power, my friends!

 

[artzstuff1]

BUY BUY BUY !!!!! ITS GOING DOWN LIKE A PROM DRESS!!!!!

 

[brendan1414]

Oh my the bull really does fly in this thread.
Mts you pay more credit than may be due for what- age, gut feeling, ideals? Think about the new percentages they charge the speculators and wonder if it slowed down trading!

Brendan you need to pay attn and not fall for the scare tactics of the lemmings. Being right for the wrong reasons does not make you prescient. Really. What will you say when it goes back up, that it looked inevitable also? You are on the cusp of the New Future. Pay close attention to events as they unfold. Try to think long term. Really long term. Because when you are young you look at 30 as unattainable.

Read as much as you can, America has never been on this particular cliff before. Randy man has done a lot of work here. Have you read it? I for one thank you Randy for showing me what I had already thought was true. And I see many articles that corroborate this!

My honest opinion, is that we WONT see it go back up to $45-50 range for atleast 5-6 months. I can see a steadily, and slow climb up back to $40-$42, but i wouldnt get your hopes up to ever see it racing for $50 again.

 

[FreedomUIC]

Bottom will more than likely stop at around $32.00 dollars give or take a buck. Guy I deal with said to expect at least six months to a year to see $49.00 dollar silver again. Called around to the local coin shops and everybody has removed their stockpile of 999 to the vault for sale later when silver gets high again. That is except for one gold and jewelry shop that didn't have a clue on silver. Bought 10 ASE's yesterday at 39.00 a pop. I am heading over there after work today and get more. Their comment to me was, we have a ton of them, how many do you want!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Wish it was like CRH, "All Of Them".....

 

[mts]

Oh my the bull really does fly in this thread.
Mts you pay more credit than may be due for what- age, gut feeling, ideals? Think about the new percentages they charge the speculators and wonder if it slowed down trading!

Brendan you need to pay attn and not fall for the scare tactics of the lemmings. Being right for the wrong reasons does not make you prescient. Really. What will you say when it goes back up, that it looked inevitable also? You are on the cusp of the New Future. Pay close attention to events as they unfold. Try to think long term. Really long term. Because when you are young you look at 30 as unattainable.

Read as much as you can, America has never been on this particular cliff before. Randy man has done a lot of work here. Have you read it? I for one thank you Randy for showing me what I had already thought was true. And I see many articles that corroborate this!

I gave no credit to age. Quite the contrary. YOU on the other hand give credit for age when it is potentially not due. And you detract for not having aged enough. That is age discrimination or bias. And it is not something that someone should admire you for. You have requested that people show a little respect for their elders. Respect is something that is earned due to ones actions. Not solely based on age. There are a lot of people in the world that are a lot smarter than I am. Some older, some younger. But I have met an awful lot of old fools in my life who expected to be respected just because they've "been around". But if they really haven't learned anything in all of their years then they don't deserve any more respect than anyone else. And if they look at young people with disdain then they certainly are not worthy of admiration.

There are lemmings on both side of the fence. And they tend to look at each other like the other party is the one that is wrong. I have Randy on ignore because some of the bull he slings is too much for me to swallow anymore. Contrary to what many people want to believe, we have been here before many times over the years. I remember the national debt being a major issue several times in my life. And the dollar has been declining in value since the very first one was printed. Is this time different? Perhaps. Perhaps not. Either way I intend to protect myself with guns, silver, and gold. But not to the point of being so scared that I make foolish investment decisions. I do not intend to run around like some of you do claiming that everyone else has their head in the sand because the sky is surely falling... this time.

Treasure Hunter pointed out that many people predicted $1000 gold in 1999 and the rest of the world thought they were crazy. Well, it only took 10 YEARS for that prediction to come true. I'd say they missed the mark on that one by a long shot. Anyone can predict $150 silver. The real question is when it will happen and what will it do in the mean time. It may even happen this year. But it also may not happen in our lifetime. And if that is the case then it seems awful silly to be running around talking about gold to silver ratios and buying all the silver you can just because Alex Jones has you stirred up in a frenzy.

Randy Man will likely come along and say that I have my head in the sand. To that I will say, there is more than one way to have your head in the sand. You can be blind to what is truly going on. And you can be blind to the fact that others have a vested interest in making you believe what they want you to believe. I do believe that silver will go up in the future. I do believe that the value of the dollar will continue to decline as it always has. And I do believe that there is the potential for things to get much worse. What I don't believe is that people should make investment decisions based on the premise that the "sky is falling". The sky has been falling since the beginning of time. That doesn't mean that it won't fall tomorrow. It only means that people have been wrong countless times in the past. At some point you need to stop worrying and start living.

Be cautious. Be humble. Learn as much as you can. Question everything you read. Understand that "fear sells". And don't expect people to respect you unless you have shown that you are worthy of being respected.

 

[PROSPECTORMIKEL]

SEEMS TO ME, THAT IF FOLKS JUST DON'T SELL WHAT THEY HAVE FOR A WHILE, THAT
THE LAW OF SUPPLY AND DEMAND WILL KICK IN. THAT SHOULD WORK FOR EVERYTHING
FROM ORE TO OREOS.... LORD KNOWS THAT IT WORKS ON OPEC OIL.

JUST A THOUGHT... I COULD BE WRONG.
PROSPECTORMIKEL.

 

[TheRandyMan]

"I have Randy on ignore because some of the bull he slings is too much for me to swallow anymore." mts

Doggone it...I have worked so hard to gain respect and get off of his ignore list and I'm STILL on it... ...

But seriously...anyone who does not understand that we are living in a completely different economy/time/world/technology/population/etc/etc/etc/etc...ad infinintum ...truly does have their head in the sand. I am not running around like a mad man screaming the end of the world as we know it. I am saying that the factors involved and the underlying fundamentals point to the most powerful realignment of economies and world markets in a long time. I certainly do not know how long it will take for these factors to move into actual events that will affect our standard of living...nobody does. However, many serious and thoughtful people are seeing the same signs and sounding the warning bells.

"Contrary to what many people want to believe, we have been here before many times over the years."mts

I must disagree...we have never been at 14.3 Trillion in debt. We have never had to buy massive amounts of our OWN debt in a ponzi scheme Bernard Madoff would be proud of. We have NEVER had unfunded entitlements for out federal and state governments in the HUNDREDS OF TRILLIONS OF DOLLARS. I could go on and on and on as to the many things we have never been at. Somehow, I have a feeling that it would not have any impact on mts...

"Sigh" :P

To each his own. I, for one, will continue to pass on my research to my friends here at Tnet as I feel that "Forewarned is Forearmed".

Knowledge is Power!

 

[mts]

"I have Randy on ignore because some of the bull he slings is too much for me to swallow anymore." mts

Doggone it...I have worked so hard to gain respect and get off of his ignore list and I'm STILL on it... ...

But seriously...anyone who does not understand that we are living in a completely different economy/time/world/technology/population/etc/etc/etc/etc...ad infinintum ...truly does have their head in the sand. I am not running around like a mad man screaming the end of the world as we know it. I am saying that the factors involved and the underlying fundamentals point to the most powerful realignment of economies and world markets in a long time. I certainly do not know how long it will take for these factors to move into actual events that will affect our standard of living...nobody does. However, many serious and thoughtful people are seeing the same signs and sounding the warning bells.

"Contrary to what many people want to believe, we have been here before many times over the years."mts

I must disagree...we have never been at 14.3 Trillion in debt. We have never had to buy massive amounts of our OWN debt in a ponzi scheme Bernard Madoff would be proud of. We have NEVER had unfunded entitlements for out federal and state governments in the HUNDREDS OF TRILLIONS OF DOLLARS. I could go on and on and on as to the many things we have never been at. Somehow, I have a feeling that it would not have any impact on mts...

"Sigh" :P

To each his own. I, for one, will continue to pass on my research to my friends here at Tnet as I feel that "Forewarned is Forearmed".

Knowledge is Power!

And when we were at 100 billion in debt people said the same thing. Of course we have never been at 14.3 trillion in debt. And when 20 trillion comes we will have never been there either. The issue is whether or not this massive debt problem is worth the "sky is falling" mentality that it is being given by so many people who are supposedly "in the know". They could perhaps be in the know and the world could be in major trouble just as described. But this was the same prophecy that was given back in the 70's, 80's, 90's, and on and on. And it has yet to happen ON THE SCALE that some people here claim it will.

There is no doubt that the debt is a problem and the dollar will go down. The question is what is the magnitude of the problem. Forgetting that we have been in similar situations before is just as much "having your head in the sand" as choosing to not believe the problem is as bad as you want everyone to believe it is.

I'm not going to predict one way or another because frankly, I'm not smart enough. But I am smart enough to know that there are an awful lot of people who have a vested interest in making us feel afraid. And because of that I'm going to be cautious of claims that I read about on the Internet.

Now back onto ignore with you!

 

[TheRandyMan]

Hmm...how did he read that post if he had me on ignore to begin with...

A HA!

He has someone stalking my posts!

Dagnabit!

It's not paranoia if they really are out to get you!

 

[brendan1414]

Alright you two...

this argument could go on and on and on forever. the truth of the matter is that silver is shooting down... almost as fast and as steadily as it shot up. seems like a correction to me, and i dont think its gonna bounce back to $50 until 2012... maybe when everyone believes the world is going to end.

 

[Marchas45]

Alright you two...

this argument could go on and on and on forever. the truth of the matter is that silver is shooting down... almost as fast and as steadily as it shot up. seems like a correction to me, and i dont think its gonna bounce back to $50 until 2012... maybe when everyone believes the world is going to end.

Actually, it's going down faster

 

[mts]

Alright you two...

this argument could go on and on and on forever. the truth of the matter is that silver is shooting down... almost as fast and as steadily as it shot up. seems like a correction to me, and i dont think its gonna bounce back to $50 until 2012... maybe when everyone believes the world is going to end.

Sorry Brendan for polluting your thread. You have to understand that Randy and I have had a run in or two on other threads. My apologies for bringing that nastiness into this thread. We've always managed to keep it fairly civil though if that is any consolation.

2012 will be interesting. But don't forget that May 21 of this year (at about 6:00PM) is when the world is REALLY supposed to end...

 

[brendan1414]

its quite alright... for the record this post has gotten the most replies ever in a PM thread. i mean it was perfectly timed with the price dropping so fast.... whhen i seen under $35 my jaw dropped... lol

 

[thrillathahunt]

I predict it will drop to $25 before the world ends.

 

[dogpound]

hopefully it drops like a rock tomorrow because i'll be lookin to buy some on saturday

 

[PROSPECTORMIKEL]

THRILLATHAHUNT,

ARE YOU TALKING ABOUT SILVER OR GOLD?
'CAUSE IF THE WORLD ENDS, THE WAY I SEE IT, GOLD WILL JUST BE USED FOR PAVEMENT!
AND SILVER WON'T HAVE A CLOUD TO LINE....

PROSPECTORMIKEL