Silver is on a tear

Discussion in 'General Chit Chat' started by tknopp, Mar 23, 2011.

  1. tknopp

    tknopp Well-Known Member

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    Wow silver closed at $37.42 today (3-23-11).

    And the g-men say the economy is getting better.......right.
     
  2. RatLabGuy

    RatLabGuy You look like a monkey and smell like one too

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    Whaaaat?
    You don't believe what the g-men say? Com on, are you a communist or something?
     
  3. tknopp

    tknopp Well-Known Member

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    Closed at $39.51 today. The US dollar is loosing its value everyday.
     
  4. rattlecanpaint

    rattlecanpaint Well-Known Member

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    Everything I'm seeing is that we are witnessing the end of the dollar being the fall back currency. We are going to get to see the dollar go away. China is selling our debt as fast as they can. They know it's getting ready to collapse. Stock up on precious metals.
     
  5. tknopp

    tknopp Well-Known Member

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    Yep. Other countries used to use the US dollar as the standard, but now they are investing in other currencies.
     
  6. CTRaceWorx

    CTRaceWorx Well-Known Member

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    That's why I bought a couple grand in silver at the end of last year.
    The issue is the dollar isn't backed by gold or silver or anything worth anything. Silver should hit 50 by the end of the year and over 100 by the end of next year. Gold might go up a couple %
     
  7. 250krawler

    250krawler Well-Known Member

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    This might be a dumb question but, whats the point? Are you going to go to Wal-mart and pay with silver and gold? I agree the dollar isn't going to be worth squat. But what are gold nuggets and blocks of silver going to get you? Doesn't this just mean a loaf of bread will be like $40. I guess I just cant see the point? I think lead would be a better buy at the rate this country is going:lol:
     
  8. Tacoma747

    Tacoma747 Well-Known Member

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    100% agreed.

    Wow thats some nice shiny metal you have there, but lead is alot cheaper and goes ALOT further if it has to....
     
  9. CTRaceWorx

    CTRaceWorx Well-Known Member

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    Its a easy way to double up my money within a year or two at the rates it is going. Reselling is easy, its more of an investment and kind of my retirement plan. CDs, savings accounts and such at a bank can't touch the return that gold and silver can give you.
    And no you dont walk in and buy a loaf of bread with it, use some common sense. :shaking:
     
  10. Ron

    Ron Dum Spiro Spero Moderator

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    as long as you get out at the right time that is great.
    Ive also seen commodities fall and lose 70+% of their value in one day.
     
  11. Green ford

    Green ford Active Member

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    I have lots of lead... and I store it in brass cylinders....:lol:
     
  12. CTRaceWorx

    CTRaceWorx Well-Known Member

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    Absolutely, its a risk just like playing the stock market and a couple other things. I've done a lot of research on it and I think its a risk worth taking right now.
     
  13. Ron

    Ron Dum Spiro Spero Moderator

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    ::beer::

    I don't disagree fwiw
     
  14. Tech11

    Tech11 Well-Known Member

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    http://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic

    Dollar is sinking. Inflation is rising. Printing presses running non stop because we have 1800 nukes for anyone who doesn't like it.

    Precious metals will always be valuable. Federal reserve notes....maybe.

    I keep my PMs in 7.62x39 and will exchange them at a very rapid rate if need be.

    If you cant see the manipulation in the markets you are not paying attention.

    Also you better be investing in ACTUAL PMs not paper PM saying you have some PMs otherwise you're gonna get boned.

    Also, look into tungsten.
     
  15. tknopp

    tknopp Well-Known Member

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    The point is to own some precious metals because they are a good hedge against inflation.
    Take a 1964 silver quarter for example. Back in 1964 it was worth 25 cents. That 25 cents would buy you about 2 gallons of gas. Now fast foward to 2011. That same silver quarter is now worth $7.40. (at current silver spot price).Which if you sold it you could buy about 2 gallons of gas.
     
  16. tknopp

    tknopp Well-Known Member

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    Good man!:beer:
     
  17. 250krawler

    250krawler Well-Known Member

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    That makes more sense. Every time I here people say that, its a "doomsday" type scenario (sky rocketed inflation and a destroyed economy) and I cant see how it could do much good at that point. It makes sense as an investment opportunity, hell grab a shovel and come on down. There's a an old placer gold mine on the back side of my property.:huggy:
     
  18. EdJonesJeeper

    EdJonesJeeper The Stig's NC cousin

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    Location:
    Pisgah Forest, NC

    Everyone has brought up a good point and yes silver and gold have been doing well. BUT EVERYTHING in the financial world is of cyclical nature, meaning there are ups and downs.

    https://www.franklintempleton.com/r...les_tools/2020vision/pub/equities_protect.jsf

    Go to this link and compare what gold has done compared to stocks in the last 40 years. You will be surprised. GOLD AND SILVER ARE AGGRESSIVE INVESTMENTS!!!!

    Do not be fooled. The dollar is getting ready to come back on the rise.

    And for whats its worth, China does not OWN the USA.

    The federal reserve owns the most of our debt with China second. Now saying that think about this. THE iphone, a US invention, is 1.9 Billion dollars of our trade deficit in china. Yes a product designed in the US with parts all over the world counts a very large portion against us because it is assembled in china and shipped here.

    I commend those that want to do your own research and handle your own investments but there are a few rules that will prove succesful.

    1. NEVER HAVE more than 5% of any single invest in your portfolio

    2. Own some bonds. Rule of thumb is how ever old you are is what percentage bonds you should own.

    3. BUY QUALITY INVESTMENTS. No one has ever lost there shirt in the stock market when they bought quality and held for the long term. THAT IS NOT THE SAME WITH GOLD AND SILVER.


    Click my link or PM me if your serious about saving for retirement.
     
  19. Tech11

    Tech11 Well-Known Member

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    But if the dollar does rise the current stock market "rally" is gonna implode.

    The fed has two options either keep pushing down the dollar and let oil's inevitable rise trigger a recession(like we ever got out of one), or let the dollar recover and watch stocks crater.

    Something I find hilarious is congress bitched moaned and wailed over 38 billion dollars in cuts, when if rates are raised a quarter of a percent on the levels of debt currently carried that is somewhere around 140 something billion dollars. :shaking:

    I do not believe you can make assumptions based on how things used to work as things are completely and totally screwed now. Quantitative easing and all this other gimmicks going on is nothing but book cooking shoddy accounting and slight of hand.

    How it used to be and work is gone. We're in a whole new world. People better be preparing accordingly.

    Sure you can make hay while the sun is shining, but the rain is coming. Be prepared.

    and God help you if you believe any of the numbers the government is putting out.
     
  20. Ron

    Ron Dum Spiro Spero Moderator

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    I imagine people said the same in 29...
    Probably similar in 81...


    Seems the younger folks are the more scared they are right now...the old grey hairs with a few dollars in the market barely seem phased...
     
  21. Tech11

    Tech11 Well-Known Member

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    Oh, I have a retirement account. 6% of every pay check. I don't think I'll ever see a dime of it. I think the government will decide they can invest or do something with it better than I can. I mean how dare I actually work and sock away money for when I'm old, when lazy no good lay abouts need that money NOW. Social security? Hahahahahahahahaaaaaaaaaaaaaaaaaaaaaaaaaaaa.

    So I've resigned myself that that money is officially gone. Nothing I can do about it, and every month I invest in my beans and bullets fund. Because when TSHTF, they can ALL have some precious metals. That is if they consider lead precious. I'll be damned if they get my beans.
     
  22. EdJonesJeeper

    EdJonesJeeper The Stig's NC cousin

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    Implode is a very strong word. Pull back is more like it. And on average we go through a 5% recession every year and a 10% recession every 3.5 years. But the TRUTH IS that stocks have ALWAYS risen more than they have fallen.
    https://www.oppenheimerfunds.com/digitalAssets/45bc3375d8d79110VgnVCM100000e82311ac____-0.pdf

    I understand that social security is a ponzi scheme and the biggest one in the history of scemes. But you can't let facts go unnoticed.

    The reason "how it used to be and work" is not gone relies on a few points.

    1. We are still the largest and most powerful country in the world and do not forget that. Our GDP is over 14 trillion per year, China's... is at 5 trillion.

    2. When you buy a quality stock, mutual fund, etf they pay a dividend. That dividend can be anywhere from 0-6 or 7%.
    That is a return on your investment every year. GOLD and Silver do NOT pay dividends. The only way you get a return is when you sell it at a higher price than what was bought.
    Buy low, sell high. Most people do not think to use investments as an income source. The more investments/ stocks paying dividends owned the more income you can have now or in the future. That how rich people retire early. I've got 90 year old that ONLY buy dividend stocks from me because they want the dividend. They did not freak out when there portfolios fell 25-40%. THere income checks did not go away and companies like AT&T were able to continually RAISE there dividend even in the down market.
    Companies with rising dividends pay you more income year after year which is what truely proves stocks as the BEST inflation protection.

    3. If the dollar crumbles... do you thing your gold/silver will be worth anything? Your house? Your car... your cash in the bank? The answer is no.

    4. The stock market and the American dollar will NEVER crumble/ implode/ blow up or what ever you want to call it. As long as we are consumers in society there will be markets and money to buy those things. Now if people stop consuming and Walmart closed its doors, then I would start worrying. Do you think people are going to stop brushing there teeth because of a recession? Washing there clothes? Doing activities of daily living?

    I think there is a lot of pessimisim in this world today but one thing to remember is that we have been here before, survived, learned from our lessons and are even stronger today because of it.
    http://www.hartfordinvestor.com/ser...d=1287893687019&pagename=Investor/Page/Common



    For some more personal advice please do not hesitate to PM or call me 828-884-7662
     
  23. EdJonesJeeper

    EdJonesJeeper The Stig's NC cousin

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    Pisgah Forest, NC

    You are doing a FANTASTIC job of preparing for retirement and do not let the news tell you different. You need to do more because we will NOT have s.s. benefits medicare/medicade benefits in the future that we have today.

    Remember, all that money in your 401k has not been taxed, so i.e. more money in the pot is working harder for you than if it was after tax money. Granted when you do take that money out (after age 59 1/2) that money will be taxed as ordinary income.


    Keep investing and if your not happy with your return, let me take a look at your options to see if there is something that could be working better for you. :driver:
     
  24. Tech11

    Tech11 Well-Known Member

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    Its not a 401k. I cant touch the money. I dunno what it is, but it comes out and there's a bunch of it sitting there that I can't do anything with now which maybe is good, otherwise I'd have already have drawn against it.

    I'm planning as if I will never see that money, and if by some miracle the government gets it's act together and leaves us middle class alone, one day there'll be a hunk a change sitting there, but I really think I'll be working until I die.

    I'm just bitter because me and the government just went a few rounds and needless to say I lost. Big time. I kinda wish I was an illegal alien, so I could get all the benefits that the money they took from me will get. Free food, housing, medical care etc etc etc etc.

    Once I get over the government raping me I think I'm going to fire up a universal life insurance policy, maybe.(TAX FREE retirement) TAKE THAT GUBMENT!
     
  25. tknopp

    tknopp Well-Known Member

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    And about mid May we will reach our debt ceiling. It will be interesting to see what the feds do. Stay stead fast or raise it more.
     

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