So what's the deal with silver?

[Cebu_4_2]

I was supposed to cash a bit in last week but so busy I haven't yet. This looks to be a good time now @ 30.50.

What say thee?

[Skirnir_]

I was supposed to cash a bit in last week but so busy I haven't yet. This looks to be a good time now @ 30.50.

What say thee?

Spikes are not good times for dollar-cost-averaging or entry into a position; I prefer to do that on pull-back. However, there is never a bad time to buy silver these days.

[vacuum]

I was meaning to buy some last week. This is what I get for procrastinating.

[Glass]

I say silver is sexzy

[Serpo]

Guess you cant wait until it hits 200$ ........................


wait and see

[mamboni]

I assume you mean to buy silver, not "cash in" silver. IMHO, we have justed started a massive bull run the foundation for which is the huge consolidation that started in 2011. Sure there will be dips along the way. But the interim lows will climb higher inexorably. So you should buy if your investment horizon exceeds one year. Just get the silver now and enjoy the show - it's going to be one for the history books.

Over the next 30 years:
1. The US dollar will be devalued 95% (20 times)
2. The dollar will lose reserve currency status
3. American standard of living will be reduced to third world backwater
4. Individuals with hard (international) assets (i.e. silver, gold, jewels, art works, arable land, resources) will survive and prosper.

Don't be left out in the cold. Today's fire sale in silver will not last forever. The one refrain that repeats in my head over and over is "if only I had bought even more when I did" when thinking about silver. I starting buying silver at 7 and gold at 400 and I went in aggressively. Yet when silver was 12, 16 & 18 I bought as well and now wish I had bought even more. I promise that the day will come when you will lament no buying more silver at $30.

[mick silver]

i also started when silver was low and as it went to 18 bucks . then i sold it all at 46 bucks .

[Sparky]

I assume you mean to buy silver, not "cash in" silver.
...

This thread would be a lot more coherent if Cebu would clarify whether he meant buy silver or sell silver. Since he says this looks to be a good time now (after this run-up), it implies he meant sell.

[Shami-Amourae]

Peter Schiff says to buy now:

http://www.youtube.com/watch?v=XC-XZJK0qD0

[Serpo]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/23_Greyerz_-_This_Move_In_Gold_%26_Silver_Will_Look_Spectacula r.html





funny pic
http://www.jsmineset.com/wp-content/uploads/2012/08/clip_image001_thumb10.jpg (http://www.jsmineset.com/wp-content/uploads/2012/08/clip_image00111.jpg)

[Serpo]

Our friend Ned Naylor-Leyland of Cheviot Asset Management (who advised SD readers in June of the imminent launch of an ALLOCATED physical silver exchange in Asia) was on the Keiser Report today discussing unallocated versus allocated gold and silver bullion, and how permanent backwardation could be an omen of a total meltdown in the precious metals market.

Naylor-Leyland discusses MASSIVE physical strains in the silver market, as evidenced by 2 large silver purchases in London (5-10 million oz range) which the LBMA is REFUSING TO DELIVER OUTSIDE OF THE LBMA SYSTEM!

vid...

http://www.silverdoctors.com/ned-naylor-leyland-gold-silver-parmanent-backwardation-omen-of-total-meltdown/

[mamboni]

i also started when silver was low and as it went to 18 bucks . then i sold it all at 46 bucks .

You have good instincts. That was an excellent trade. I was tempted to sell some silver when it broke decisively above it's channel. But I thought the hell with it: I'm in this for the long haul. I became fatigued with all the research and guesswork involved in trying to trade my positions. I got burned for 10 grand in natural gas, only to make 10 grand back in oil. Finally, when gold hit $1560, I parked the bulk of my cash in bullion and mining shares, mainly bullion, back a few months ago and decided to sit tight for the inevitable move up. I think the wait is finally over.

[Serpo]

Yes the wait may finally be over

[Sparky]

i also started when silver was low and as it went to 18 bucks . then i sold it all at 46 bucks .

Have you bought it back?

[mick silver]

Have you bought it back?

nope but i only sold half . and still holding my gold that i got years ago at a low price

[gunDriller]

Silver Be UP.

mos def.


run that through the Ebonics-to-English translator -

Silver is UP, most definitely. :)

[mamboni]

Silver Be UP.

mos def.


run that through the Ebonics-to-English translator -

Silver is UP, most definitely. :)

Yo blood! Silver be da shizzle!!!

[beefsteak]

.... which the LBMA is REFUSING TO DELIVER OUTSIDE OF THE LBMA SYSTEM!

Something about this quoted portion, Serpo, a Ponce-ism, and "....makes the rules" just tickles my funny bone.


beefsteak

[Serpo]

Something about this quoted portion, Serpo, a Ponce-ism, and "....makes the rules" just tickles my funny bone.


beefsteak

the difference being is that Ponce had his silver and the rumour is the LMBA hasnt.............
http://www.youtube.com/watch?v=hfci3Ovn6mc&feature=player_embeddedhttp://www.youtube.com/watch?v=hfci3Ovn6mc&feature=player_embedded

[steyr_m]

I assume you mean to buy silver, not "cash in" silver. IMHO, we have justed started a massive bull run the foundation for which is the huge consolidation that started in 2011. Sure there will be dips along the way. But the interim lows will climb higher inexorably. So you should buy if your investment horizon exceeds one year. Just get the silver now and enjoy the show - it's going to be one for the history books.

Over the next 30 years:
1. The US dollar will be devalued 95% (20 times)
2. The dollar will lose reserve currency status
3. American standard of living will be reduced to third world backwater
4. Individuals with hard (international) assets (i.e. silver, gold, jewels, art works, arable land, resources) will survive and prosper.

Don't be left out in the cold. Today's fire sale in silver will not last forever. The one refrain that repeats in my head over and over is "if only I had bought even more when I did" when thinking about silver. I starting buying silver at 7 and gold at 400 and I went in aggressively. Yet when silver was 12, 16 & 18 I bought as well and now wish I had bought even more. I promise that the day will come when you will lament no buying more silver at $30.

Well said, I was only going to say, "buy high, buy low -- doesn't matter. just buy" thanks....

[beefsteak]

Serpo,
what seems to escape people who aren't familiar with COMEX, GLD, LDMA, Mumbai etc., is this: all rumors of "collapse" are simply a tool of fear mongering.

These are CONTRACTS. Contracts that are unilaterally written to favor the HOUSE under all circumstances, aka the counterparty.

The house always wins in these markets, name the market.

Collapse is not going to happen on the part of the counterparty holding the inventory, paper or physical.

Instead, every conceivable--FINE PRINT INSTANCE--is covered, in advance including:
--a force majeur declaration,
---an Act of God clause,
-----total subordination post original contract language such as Germany has just done to Greece,
------outright theft/embezzlement/re-hypothecation "error"
--failure to perform,
---redelivery certification,
or any other instance where those who HOLD THE GOLD, SILVER, WHEAT, RICE, ORANGE JUICE, SUGAR, COTTON, etc., find themselves in a "performance corner"--
THEY ALL can and will be settled IN THE FAVOR OF the house, usually with some kind of "negotiated" (read that litigation) type of cash settlement "option."

All else pay cash or with their knees, their loved ones, or their lives.

Truly...when the fear has been ramped up as much as it has, and people have been deliberately herded into Precious Metals "ownership" via derivatives, the contract buyers cannot enforce the contracts' physical delivery clause against any counterparties' inventory of the specified physical commodity identified in the unilateral contract.

The only enforcement option of the contract is available to and by the bourses, LDMA SILVER INCLUDED, who have the metal or the clout. Doesn't much matter which.

They will get whatever gold/silver the people bought, or think they bought.

One only needs to look back at Celente's outright theft of his profitable and OOOOOOLD Gold profitable positions--which he did not take physical delivery of. Yes, the MFG Bankruptcy trustee unwound the months' old futures contractS in the COMEX warehouses' system, actually identified and registered to Celente' when MFGlobal went down here a mere few months ago, if one wishes to dispute this particular point.

Capiche'?


beefsteak

[gunDriller]

this might be the warm-up for a major move, but, it's only 10%. from $28 to $30.80.

for silver that's not a huge move.


i agree, Silver for $30 an ounce is still a good deal.

[Ponce]

The coat and ties know know that paper PM is only false hope and that( "When you don't hold it, you don't own it"... Ponce)
physical holdings is the only way to go......only problem is that in the future the coat and ties will still have their PM's while the little guys have no choice but to sell theirs in order to survive, as you know the last tremester there was 14% less silver out of the ground and with the US now in the game silver will become very valuable not as money but as a means of doing business...
Don't think of PM as money because they are beyond money and in a world of their own......it has been that way for a very long time and it will remain so for a very long time...by the way, silver was "money" before gold.

To me that in the future silver will be more valuable than gold for many reasons....for one there is less silver than gold and also because every day they are finding more and more uses for silver there will be less and less of it as time goes by.

You will have a bright future is you use silver as your guiding light.

[Hatha Sunahara]

Did you notice that George Soros sold his bank stock and bought 'gold'. The media says he bought GLD, which is paper gold. If that's the case, Soros needs a lesson from Ponce. The one in his sig line.


Hatha

[StreetsOfGold]

Did you notice that George Soros sold his bank stock and bought 'gold'. The media says he bought GLD, which is paper gold. If that's the case, Soros needs a lesson from Ponce. The one in his sig line.


Hatha

If soar-ass bought physical, you wouldn't know it anyways. Why would he let anyone know that?

[beefsteak]

If soar-ass bought physical, you wouldn't know it anyways. Why would he let anyone know that?

+1, SoG.

GLD "ownership" is basically a parking money vehicle employed by traders who don't want to take physical delivery. As the old saying goes, many reasons to sell, only one reason to buy. He's capturing Short Term "anticipated" oaper share price appreciation.

Georgie is an insider's insider. He treats GLD as a type of escrow account for parking hedge funds for reasons known only to him.