ZenOps Posted April 9, 2011 Report Share Posted April 9, 2011 $40 US that is, it has yet to break that in Canadian dollars (never thought I'd say that) Seems to be a little bit of panic buying in the last few months. US dollar monetary base diluted to about 1/3rd its potentcy since late 2008 probably has a lot to do with it. http://www.chartingstocks.net/2009/03/chart-of-the-us-money-supply-1917-2009/ It could also be the idea that Utah govt now takes gold and silver as acceptable currency alongside the US dollar, a dozen states are set to follow. Side note: Corn will probably hit the $8 per bushel mark soon (up from $2 a bushel back in 2005) and I would not be suprised at all to see $10 per bushel before summer is up. Quote Link to comment Share on other sites More sharing options...
scouterjim Posted April 9, 2011 Report Share Posted April 9, 2011 (edited) Silver did this in the early 1980's. People invested heavily, then WHAM the price dropped enormously. many losst all they had. The only precious metal to invest in is gold, and even that is very risky. Me? I have investments in a recession proof industry: a brewing corporation. Over this whole recession, my shares did nothing but go up. They split three times over three years. Standing at about $45/share, and set to split again. $$$$$$$!! Edited April 10, 2011 by Charles Anthony deleted re-copied Opening Post Quote Link to comment Share on other sites More sharing options...
ZenOps Posted April 9, 2011 Author Report Share Posted April 9, 2011 Yeah, it has yet to reach that peak. Mind you, 30 years ago, you could go to the movies for a buck, now its closer to $15. If you go by that rationale - this peak could hit $750 an ounce before it drops. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 11, 2011 Report Share Posted April 11, 2011 I've been telling people to buy silver on this forum for over a year, I still believe it is cheap. It's trading at almost $42 American. I know some people say that banks like J.P.Morgan are manipulating the silver market, they say J.P.Morgan is naked short selling silver which means there is more paper silver then real silver. If this is true and people start demanding the physical silver, J.P.Morgan will be forced to buy the silver off the market causing the price to rise even higher. The NYPost reports that JPMorgan (JPM) is under criminal and civil investigation by the federal authorities in regard to trading in the Precious Metals Markets...Source Quote Link to comment Share on other sites More sharing options...
blueblood Posted April 11, 2011 Report Share Posted April 11, 2011 $40 US that is, it has yet to break that in Canadian dollars (never thought I'd say that) Seems to be a little bit of panic buying in the last few months. US dollar monetary base diluted to about 1/3rd its potentcy since late 2008 probably has a lot to do with it. http://www.chartingstocks.net/2009/03/chart-of-the-us-money-supply-1917-2009/ It could also be the idea that Utah govt now takes gold and silver as acceptable currency alongside the US dollar, a dozen states are set to follow. Side note: Corn will probably hit the $8 per bushel mark soon (up from $2 a bushel back in 2005) and I would not be suprised at all to see $10 per bushel before summer is up. Corn will not hit 10 dollars. It would take a crop failure and 200-300 dollar oil to do that, which would put us back into recession. Corn prices always drop for the november contract because of harvest and the large amt of new crop corn in the system. Quote Link to comment Share on other sites More sharing options...
GostHacked Posted April 11, 2011 Report Share Posted April 11, 2011 I've been telling people to buy silver on this forum for over a year, I still believe it is cheap. It's trading at almost $42 American. I know some people say that banks like J.P.Morgan are manipulating the silver market, they say J.P.Morgan is naked short selling silver which means there is more paper silver then real silver. If this is true and people start demanding the physical silver, J.P.Morgan will be forced to buy the silver off the market causing the price to rise even higher. When the dollar crashes, what will be the value of the silver then? Quote Link to comment Share on other sites More sharing options...
geoffrey Posted April 11, 2011 Report Share Posted April 11, 2011 When the dollar crashes, what will be the value of the silver then? Obviously higher than it is today... Quote Link to comment Share on other sites More sharing options...
GostHacked Posted April 11, 2011 Report Share Posted April 11, 2011 Obviously higher than it is today... Explain? Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 11, 2011 Report Share Posted April 11, 2011 When the dollar crashes, what will be the value of the silver then? I would say it depends. If the Fed continues to flood the market with dollars devaluing it leading to OPEC and China dropping the dollar. I would say silver would appreciate verse the dollar because the market would flood with even more dollars as people rush to get out of the dollar. I believe this will happen, this is why I believe there will be a QE3 or something similar, I may be wrong. If you want an exact dollar value I could not tell you but the number will be 3 digits. If the US admits it is bankrupt and the Fed stops flooding the market with dollars then the US is sure to go into a recession. Interest rates would skyrocket as people try to rebuild their savings. If this were to occur, I would think silver would depreciate verse the dollar as a result of deflation in the economy. As of right now I see no reason to sell my silver. Quote Link to comment Share on other sites More sharing options...
ZenOps Posted April 14, 2011 Author Report Share Posted April 14, 2011 (edited) QE3 is pretty much inevitable, and within the next month no less. The US has to print money or default on some loans. If the US defaults on some loans, then the entire trust of the system is gone. It would be equivalent to not making a minimum payment on a credit card. In which case, all the creditors to the US would have grounds to completely pull out of the US regardless of any "side agreements" Collapse within a day probably. Since the US does have power over its own printing presses, they can print as much as they want. They will be scorned and derided, just like the first two times - but its the much easier path of the two scenarios. Which means all commodities will skyrocket with each QE. Corn? I'm hoping it won't get so high to the point where people are starving, but I'm not *that* hopeful. Edited April 14, 2011 by ZenOps Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 15, 2011 Report Share Posted April 15, 2011 its at 42.46 as of this second... I don't think they will announce QE3 within a month, I think QE2 still runs for a few more months. Quote Link to comment Share on other sites More sharing options...
ZenOps Posted April 15, 2011 Author Report Share Posted April 15, 2011 Good catch, meant to say raising the debt ceiling, which they will have to do soon. We are closing in on the $50 1980 high (not inflation adjusted even) Mind you, it is very unfair to all commodities to compare to the US dollar now that the US completely threw the monetary base out the window in 2008. It feels a lot like Mexico when they dropped three zeroes off their currency - more than a Zimbabwe type money printing. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 20, 2011 Report Share Posted April 20, 2011 (edited) Man silver is climbing fast now, its already at 44.50 Edited April 20, 2011 by maple_leafs182 Quote Link to comment Share on other sites More sharing options...
ZenOps Posted April 25, 2011 Author Report Share Posted April 25, 2011 $47. Now up 165% in one year, and over 1100% in eight years when priced in US dollars. The scariest thing I've ever seen to be honest. There are all sorts of different paper dollars floating around the world, but Silver IS money. The more that it goes up, the more that I'm thinking I should never sell back into a US dollar. I think I might take the opportunity to diversify into some other nations currencies or tangible assets. Convert to Rubles and buy up some abandoned mining towns? It would be a lot less of a risk than converting to US dollars and buying up abandoned Detroits autoindustry. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 25, 2011 Report Share Posted April 25, 2011 (edited) $49 right now. It is going up like crazy right now. I think it is going up way too fast, there will probably be a big pullback or the dollar collapse is speeding up. Edited April 25, 2011 by maple_leafs182 Quote Link to comment Share on other sites More sharing options...
Pliny Posted April 25, 2011 Report Share Posted April 25, 2011 (edited) When it reaches fifty there will be some profit taking, I'm sure. But it will go higher especially after QE3 is launched. It will probably cool down over the summer and then QE3 will filter in and devalue the dollar even more raising the price of silver. I think Obama is trying to bring the dollar into line with the Mexican peso so Mexican labour is not so expensive. It may be his plan to curb illegal immigration. Fiat currencies world-wide are becoming unstable. Traditional methods of the fed wage and price controls are not working and/or if implemented will be causing undesirable effects. Of course, QE3 is inflation, which will create a rise in the general price level for Americans due to the excess available "money". Obama is investigating why gas prices at the pump are rising so fast. What an idiot! It couldn't possibly have anything to do with the flood of US dollars from all the QE to date. Or the shaky US economy that he seems to be ignoring presenting the largest budget in history. Nope. It's speculators, folks. High prices at the pump are all their fault. The Canadian dollar at 1.05 will mean we will be buying American, with accompanying border line-ups. Our general price level will drop as our dollar buys more - As long as we aren't doing any quantitative easing ourselves. But - there is a caution in that there is a suspicion that fiat currencies are unstable and confidence in them is eroding. Oil, which is so critical to all national economies, will tend to rise. Due more to economic instability caused by excessive American dollar inflation and increasing debt liabilities rather than from the inflation itself - oh... and speculators, of course will drive up the price. I dumped all my silver certificates and am only holding actual silver now. I don't want to get caught with any kind of paper or promissory notes. The current demand for gold and silver looks similar to a run on the banks. Any way you look at it, I believe we are in a season of unprecedented change. Economically... and politically....I'm not a financial advisor so I am not advising anything. This is just how I see things and is one thing I am personally doing. Edited April 25, 2011 by Pliny Quote Link to comment Share on other sites More sharing options...
GostHacked Posted April 25, 2011 Report Share Posted April 25, 2011 So, I'd go through my bank to buy silver? Financial advisor of some kind? Looks like it's about 47 CND right now. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 25, 2011 Report Share Posted April 25, 2011 I'm not a financial advisor so I am not advising anything. This is just how I see things and is one thing I am personally doing. That's how I see things too and that's why I have been telling people to buy. If monetary policy changes which I don't think it will, then I will change my outlook on silver, as for right now I am buying. So, I'd go through my bank to buy silver? Financial advisor of some kind? Looks like it's about 47 CND right now.I think if your with scotiabank you can buy from them, they might have to order it and you pay for shipping. I buy from coin shops, if you do it that way, phone around to make sure you get the lowest price and make sure you buy .999 silver. Also, there is no tax on silver, silver is money. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 26, 2011 Report Share Posted April 26, 2011 Fell back down to $44.87. It rose really fast and now it is falling really fast. I think it may be a good time to buy. I'll see what happens tomorrow. Quote Link to comment Share on other sites More sharing options...
Pliny Posted April 26, 2011 Report Share Posted April 26, 2011 So, I'd go through my bank to buy silver? Financial advisor of some kind? Looks like it's about 47 CND right now. I bought mine through the Vancouver Bullion and Currency Exchange (VCBE). And I got Maple leaf coins as opposed to bullion. There is a little bit of a premium for them, and right now there is a bit of a waiting list to get them once you have ordered and paid for them. Incidentally, for everyone's information, I heard that tomorrow, wednesday, April 27/11, the Federal reserve is issuing a press release. It has never done so before in it's entire history. It should prove interesting. I have no idea what it is about but it's a pretty safe bet that it will have some impact on the markets and the currencies one way or another. Quote Link to comment Share on other sites More sharing options...
GostHacked Posted April 26, 2011 Report Share Posted April 26, 2011 I bought mine through the Vancouver Bullion and Currency Exchange (VCBE). And I got Maple leaf coins as opposed to bullion. There is a little bit of a premium for them, and right now there is a bit of a waiting list to get them once you have ordered and paid for them. Incidentally, for everyone's information, I heard that tomorrow, wednesday, April 27/11, the Federal reserve is issuing a press release. It has never done so before in it's entire history. It should prove interesting. I have no idea what it is about but it's a pretty safe bet that it will have some impact on the markets and the currencies one way or another. Well that is something to watch out for indeed. Even if I buy now and the price goes down a bit more, I'll just buy more, I guess. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 26, 2011 Report Share Posted April 26, 2011 I bought mine through the Vancouver Bullion and Currency Exchange (VCBE). And I got Maple leaf coins as opposed to bullion. There is a little bit of a premium for them, and right now there is a bit of a waiting list to get them once you have ordered and paid for them. Ya, I buy maple leafs too. What do you pay usually, how much above spot? Quote Link to comment Share on other sites More sharing options...
ZenOps Posted April 27, 2011 Author Report Share Posted April 27, 2011 (edited) Got my last maple leaves this morning, assuming Bernanke was going to drop a bombshell, and lo and behold... Already covered what I paid above spot to get maples by the end of the day. This is the last buy for me, and to be contrarian to most analysts out there - I say we are going to bust right through $50 and never look back. Edited April 27, 2011 by ZenOps Quote Link to comment Share on other sites More sharing options...
ZenOps Posted April 27, 2011 Author Report Share Posted April 27, 2011 Yeah, amazingly no tax on bullion in Canada. It is *the* place to buy Precious Physical. In Europe they have to pay up to 20% VAT tax on bullion. Which is brutal, on top of already paying much more than North America in general above spot before tax, but its not really an issue anymore because they can't buy because they ran out of premium bullion (bars and coins) a year or so ago. This may be the last chance to get physical. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted April 28, 2011 Report Share Posted April 28, 2011 Incidentally, for everyone's information, I heard that tomorrow, wednesday, April 27/11, the Federal reserve is issuing a press release. It has never done so before in it's entire history. It should prove interesting. I have no idea what it is about but it's a pretty safe bet that it will have some impact on the markets and the currencies one way or another. During and after his speech the dollar fell while gold and silver rose. I say we are going to bust right through $50 and never look back. I agree, I am still calling for triple digit silver. Quote Link to comment Share on other sites More sharing options...
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