silvers crackin $15 ladies and gents

[phrostie]

With silver sitting at $15 an oz, what are you guys looking to sell at? Anyone have a price target in mind?

 

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[golden silver]

I will agree we are in for hard times but the heart wants to deny it. You can't spend without limit because it will catch up to you eventually. Why is america not up in freakin arms. Sorry to say but it may take another revolution to correct the problems I mean the politicians we have in Wash. What ever it takes to get us back to the consitutional republic we are supposed to be. Obama is the wolf in sheeps clothing. Mark my words and do not be fooled.

Golden Silver

 

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[davest]

I'm not selling yet, no way. I'm gonna have to make a bit more to get it out of my hands. One question, I have a bunch of silver jewelery, maybe 2 lbs of it, where do you sell that at?

the other side of this mess is going to be very interesting. there's been camps built in the midwest back in the 90s for just such a time. all I can say is, HANG ON, it's gonna get very weird if unemployment hits 15% in this day and age on top of the foreclosures.

 

[jim4silver]

I'm not selling yet, no way. I'm gonna have to make a bit more to get it out of my hands. One question, I have a bunch of silver jewelery, maybe 2 lbs of it, where do you sell that at?

the other side of this mess is going to be very interesting. there's been camps built in the midwest back in the 90s for just such a time. all I can say is, HANG ON, it's gonna get very weird if unemployment hits 15% in this day and age on top of the foreclosures.

I hope I am wrong, but I think 15% unemployment is guaranteed. I bet if they looked at not only people on unemployment, but also people who have used up all their unemployment benefits, the number would be higher than the official current number.

I have said all along the next big wave of problems in our country will not be from the derivatives and such, but will be problems caused by massive unemployment. There is no way we can bring back all the jobs lost to outsourcing--both blue collar and white collar jobs. Corporations that want to make profits to survive would rather pay less for labor overseas than they have to pay here.

All the young (and old) people who think that by going to college (2 or 4 yr degree) they are guaranteed a good job or career when they get out will be very surprised in a negative way.

It would be much smarter to go to a "trade school" and learn a useful skill that will always be in demand--plumbing, electrical, heating and air conditioning, etc., then later start their own company in that type of work. Always better to work for yourself than to have a JOB (acronym for "just over broke"). Besides that, if you are the owner, no need to worry about getting fired or laid off. I learned this the hard way and wish I would have started my own business years earlier.

All those people getting general degrees in business, marketing, and general liberal arts areas are gonna have a hard time getting good paying jobs (or any job other than a job that normally does not require a degree) so they can pay off their student loans.

I don't know how all this will bode for PMs, but I am betting they will be worth having when times get worse.

Jim

 

[fiddycent]

amen jim! you and i think ALOT alike.

i've toyed with the idea of cashing out now and again but...it's just a fantasy. i plug in the new spot prices to see what my stash is worth and smile. precious metals will always be precious but cash....that's a whole 'nother story. as we've seen recently, the government can make cash. they can't make gold and silver. that, my friends, is what keeps me from selling.

figure the spot price of a '64 kennedy. you can buy a gallon of gas and get change back!

why'd we ever get off the gold standard?

 

[ScoobaSteve]

I'm not selling yet, no way. I'm gonna have to make a bit more to get it out of my hands. One question, I have a bunch of silver jewelery, maybe 2 lbs of it, where do you sell that at?

the other side of this mess is going to be very interesting. there's been camps built in the midwest back in the 90s for just such a time. all I can say is, HANG ON, it's gonna get very weird if unemployment hits 15% in this day and age on top of the foreclosures.

I hope I am wrong, but I think 15% unemployment is guaranteed. I bet if they looked at not only people on unemployment, but also people who have used up all their unemployment benefits, the number would be higher than the official current number.

I have said all along the next big wave of problems in our country will not be from the derivatives and such, but will be problems caused by massive unemployment. There is no way we can bring back all the jobs lost to outsourcing--both blue collar and white collar jobs. Corporations that want to make profits to survive would rather pay less for labor overseas than they have to pay here.

All the young (and old) people who think that by going to college (2 or 4 yr degree) they are guaranteed a good job or career when they get out will be very surprised in a negative way.

It would be much smarter to go to a "trade school" and learn a useful skill that will always be in demand--plumbing, electrical, heating and air conditioning, etc., then later start their own company in that type of work. Always better to work for yourself than to have a JOB (acronym for "just over broke"). Besides that, if you are the owner, no need to worry about getting fired or laid off. I learned this the hard way and wish I would have started my own business years earlier.

All those people getting general degrees in business, marketing, and general liberal arts areas are gonna have a hard time getting good paying jobs (or any job other than a job that normally does not require a degree) so they can pay off their student loans.

I don't know how all this will bode for PMs, but I am betting they will be worth having when times get worse.

Some of you have some valid and very interesting points. Jim I have to agree with some of what you are saying and it is good to know that there are Americans that don't make believe that everything is just grand. The one thing that I would like to point out is that the only reason, or the only reason I can find, for the market staying at the point where it is at now is because all of the government spending. I think that the gov. is not manipulating the market but definitely playing a HUGE roll in the numbers. Ultimately those numbers will fall back down to 6000 in the near future.

A couple key points:

1. Russia has already stopped using U.S. as a AAA currency, and China as well as others are soon to follow. This will devalue the dollar and naturally cause a surge in silver value.

2. Unemployment: I already see the numbers getting up there and believe it or not, some states are already boasting an 18% climb in unemployment. The Socialist thing to do in this case would be to create millions of "Public" jobs or government jobs. Doing this has an added bonus of not only employing Americans, but also owning their votes. So look out for this.

3. If the dollar drops, I think that we will see an quick push to remove all physical forms of currency, which I believe is part of the President's " Grid " program. What can this do for those who hold precious metal currency ? Can or will the government outlaw owning precious metals or buy them up at a huge premium but pay you in digital dollars?

JIM - The idea of going to trade school instead of college is not far off from being a fantastic idea, unless of course the Socialists already have that in the agenda. I can see it now, the letters are going out to the home of graduating teens stating what they are to do when they graduate. Tom you are allowed to attend college, Mike you are going to trade school, Jose you are going into the Marines!!!! Either way, it is always ALWAYS good to be skilled in a trade. And when times get super rough, tools can be as valuable as precious metals especially if you know how to use them. You can't go very far working for someone else!

International Corporate rights/investment rights are classified as being supreme over all other rights including our sovereignty. DOn't forget that the "Very Rich" are well aware of the poor and are quite content of keeping the poor in their place. You know, working very hard for very little. For the most of the poor it isn't brought by personal inclination like some would claim. For centuries the poor have been in a sense created by the "Very Rich" looking out for the "Very Rich". Enormous Corporate tax cut for the rich, deregulating business activities, downsizing the workforce, breaking up the labor unions are just a few of the activities that help to create a widespread population of poor people while the wealth grows greater for the super rich. The poor aren't free loaders or people who like to squander in their own misery. Believe it or not, the majority of the U.S. is poor and we have one of the highest poor populations in ratio to the riches of this nation. 90% of the poor families in the country have at least 1 person working a fulltime job, but it is because they have to work for poverty wages and pay high prices for things while being burdened with regressive taxes. Within the next year or 2, the poor have the opportunity to make some pertinent decisions. Will they smarten up and take back this country realizing that it goes well beyond voting? We have tried both republican and democratic candidates and it is still more of the same old thing. Will the poor triumph? Does capitalism even work? Or does it end when one person owns EVERYTHING?

Remember that poverty is the result of an over accumulation of wealth and that the wealthy need the poor. The wealthy rides on the poor persons back. Ok I'm rambling, but my point is:

Hold on to your silver as long as you can and use it wisely.

Jim

 

[jim4silver]

ScoobaSteve,

I sure hope it does not get so bad that people are told what they can and cannot do as far as pursuing a particular type of education, etc. I personally do not think that it will get that bad that Americans will be ruled in a socialistic type of government. But I do think that to survive and succeed in the future there will need to be a complete paradigm shift in the way of thinking that most of us were raised to believe. I was always taught to go to school, get an education and find a good job with some company that will provide security, then retire from that company and live happily ever after.

Unfortunately this type of situation probably does not exist anymore. Also, many in our country were raised in an entitlement sort of mindset where they could expect to have whatever they want even if they did not rightfully earn it. This type of thinking was brought about by a loss in the hard work ethic that made our country great. Thanks to welfare and other such social problems, many got dependant on the government or some other entity to provide things for them. This type of lifestyle will not be around for much longer I believe.

Also, people who recklessly max out their credit cards knowing they cannot pay them back are gonna be in trouble. The gov has already tightened bankruptcy laws, but I think in light of what is going on in the economy, they are gonna tighten them even more.

No matter how much the government inflates, they will not keep giving cash to people for doing nothing. You watch, they are gonna make welfare and other types of programs more restrictive, even though now is when people are really gonna need it. I am not talking about people who suddenly lose their jobs and get unemployment benefits that they rightfully deserve, or people who become disabled and are tapping into benefits they paid into all their working lives. I mean the people who built their lives around bilking the system to get as much as they can and do as little as possible. They are gonna be the ones freaking out when they stop the benefits.

I deep down believe that we will adapt to whatever happens and become a thriving and abundant country again, but it is gonna require the same fortitude that our parents, grandparents, and great-grandparents had, which built our country to be great.

But it ain't gonna be easy. You gotta look out for yourself and your family and save as much money or PMs as you can. There is still ample opportunity for an entrepreneur who wants to work hard. The true deadbeats are the ones who have to worry.

Jim

 

[Rich Hartford]

I will agree we are in for hard times but the heart wants to deny it. You can't spend without limit because it will catch up to you eventually. Why is america not up in freakin arms. Sorry to say but it may take another revolution to correct the problems I mean the politicians we have in Wash. What ever it takes to get us back to the consitutional republic we are supposed to be. Obama is the wolf in sheeps clothing. Mark my words and do not be fooled.

Golden Silver

People are not up in arms because they are the victims of a divide and conquer strategy that has been going on for decades. The Constitutional Republic is no more, and the chances of reverting back to our original and legitimate form of government are slim to none.
But you never know

 

[DAS7NY]

Jim, you're making this sound worse than it is. Note, if we hit another great depression silver will be worth zippo compared to the value of food. Don't be that naieve my friends... Back on topic, I plan on unloading my 40%s at 20 to 25 dollars hold everything else untill it hits 30.

 

[scrounger d detector collector]

mighty scary stuff.
my take on this is its a long time coming correction combined w
the new global economy.

u just cant pay workers here a fortune when many are willing to
work for pennies in other countries. w forced labor as the wild card.

we havent made tv sets here for like what 15 yrs.? the only reason we
still were making cars here was subsidys. multinational companies
are gonna go to the cheapest labor source period. even tho this is painful.
in a way it might be good. making a way for the starving millions
to get a way to earn enuf 4 food.

weve become so wasteful. maybe it might be good for us to have to pay
a bit more attention to what were doing.

and if u want to u can still boycott china and modern guerilla manufacturing by buying old
stuff. i finally went to an antique mall and bought a ca. 1904 can opener.
after buying and tossing numerous modern crap ones.

of course it pays to have silver. i was sorry i didnt sell at 20 dollars.
i coulda bought back at ten. and poceted the diff. but im pretty sure we wont see
10 silver ever again,. as it rises past 20. ??

 

[jim4silver]

Jim, you're making this sound worse than it is. Note, if we hit another great depression silver will be worth zippo compared to the value of food. Don't be that naieve my friends... Back on topic, I plan on unloading my 40%s at 20 to 25 dollars hold everything else untill it hits 30.

I don't think I am the naive one DAS7NY. Also, during the last Great Depression gold held up very well compared to other types of assets. There will always be those with money that want to put it into the best "vehicle" for growth or safety. I believe those with a good amount of gold and silver will be far better off than those without if there is another depression. Especially if there is some type of hyper inflation caused by all the TARP and printing, etc.

Check out this news story, it reinforces what I was saying about unemployment, career choices, etc.

http://online.wsj.com/article/SB124390425824574861.html

Jim