Silver Prices

[FreedomUIC]

As per Coin Inflation @ 1:05 p.m. EST 19.21 (That is a new 1 year record for silver). Some People believe that 19.00 was the barrier that was holding silver back.....

 

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[legend76]

Silver closed @ $19.66 on May 12th the highest price since mid-March 2008. I personally think both Silver and Gold prices are headed straight up.

 

[AGCoinHunter]

Isn't there some options expiring soon on silver? If there is a short squeeze going, this could be driving up the prices. Not that I dint think silver is underpriced but it is so heavily manipulated these days one never knows which direction its going to go next.

 

[obediah]

Silver closed @ $19.66 on May 12th the highest price since mid-March 2008. I personally think both Silver and Gold prices are headed straight up.

I don't know about straight up the last time that happened was in early 80's and it went down like that too right after it went straight up.

As I understand it the US Gov Banking proxies like JP Morgan and couple others, you know the ones that are as they say too BIG to fail have paper shorts on Silver and gold far in excess of the clearing house supplies which makes for an interesting unwinding of them shorts when they do- of course the exps seem to just keep being pushed off and/or PM's take an occasional BIG dive allowing the short shorts to unwind without the huge losses and of course they load up on more shorts too.
Our biggest problem is the "LAW", you know those ho are in charge to make sure the playing field is level are incahoots- as corrupt as they can be today.

 

[FreedomUIC]

Silver closed @ $19.66 on May 12th the highest price since mid-March 2008. I personally think both Silver and Gold prices are headed straight up.

I don't know about straight up the last time that happened was in early 80's and it went down like that too right after it went straight up.

As I understand it the US Gov Banking proxies like JP Morgan and couple others, you know the ones that are as they say too BIG to fail have paper shorts on Silver and gold far in excess of the clearing house supplies which makes for an interesting unwinding of them shorts when they do- of course the exps seem to just keep being pushed off and/or PM's take an occasional BIG dive allowing the short shorts to unwind without the huge losses and of course they load up on more shorts too.
Our biggest problem is the "LAW", you know those ho are in charge to make sure the playing field is level are incahoots- as corrupt as they can be today.

Obe, are you sure that we are not twins seperated at birth....

 

[FreedomUIC]

Silver closed @ $19.66 on May 12th the highest price since mid-March 2008. I personally think both Silver and Gold prices are headed straight up.

One year high according to CNN Money for the past 52 weeks was $19.11. Where did you get 19.66 from??
Not being a butt head, just curious. Sometimes typing and sarcasm cannot be distinguished very easily. It is a genuine question.

 

[jim4silver]

My 2 cents is that gold and silver are going up because of the sad state of the world wide financial system. The smart money will migrate to assets perceived to give the best value over time.

History has shown that all fiat currencies eventually fail. Today, all major currencies are fiat--not backed by gold, silver, or other valuable commodities. If you go back in history every fiat currency has failed eventually. Ususally a currency starts out backed by gold or silver. Over time the leaders realize they can only inflate if they reduce the amount needed to back it, until finally it becomes fiat without anything backing it but a promise. Happened in ancient rome, China and others.

See this link for interesting examples: http://en.wikipedia.org/wiki/Hyperinflation

All the "money" being created by central banks, the IMF, etc, to help ailing countries, banks and companies goes into the system. Once created money does not disappear like some say (the deflationists). I look at it kind of like energy, it is neither created nor destroyed, but only changes form. I don't know how all the trillions being created will ever be paid back.

I am not blaming any one entity or entities for this alone. Part of the blame is the populace that demands and wants things they cannot afford so they rack up credit debt they cannot pay and default or file bankruptcy. This adds to the problem but on a smaller scale obviously than a gov creating trillions out of thin air.

Just for illustration purposes, a trillion seconds is equal to roughly 32,000 years.

Jim

 

[Fredness]

Perspective swap:
Don't look at Dollars vs. Silver (or Gold) with FRN's being the "measuring stick".
Flip the chart so that silver is stable and watch the value of your FRN's plummet.

 

[timbobwey]

I think silver will eventually keep rising, at least I hope so

 

[jim4silver]

Perspective swap:
Don't look at Dollars vs. Silver (or Gold) with FRN's being the "measuring stick".
Flip the chart so that silver is stable and watch the value of your FRN's plummet.

I agree in theory, but since we measure assets in "dollar" value that is how I look at the "value" of other assets.

I used to think that the value of gold and silver would simply maintain buying power as the dollar dropped in value. But the rise in gold in the past 9 or so years exceeds that. For example, gold went from 250 to 1250 (4X increase). However, the cost of other goods have NOT gone up 4X since 2001 (a loaf of bread, gallon of gas, price of a house, etc.). So there could actually be some decent "investment" gains in gold and silver that exceed the basic preservation of buying power gains.

Jim

 

[legend76]

Here's the link: http://news.coinupdate.com/gold-price-sets-all-time-high-silver-reaches-month-high-0273/

Second paragraph, last sentence (this was May 12) "Today, gold closed at $1,243 and silver at $19.66, the highest price since mid-March 2008!".

And when I said straight up, I guess I really don't think Straight up, but I have been buying quite a bit (as much as I could) of Gold since 2003 and Silver since 2008-2009. I'm just now doing the CRH thing. 8)

I hope it never comes down to this, but the three metals I am accumulating are gold, silver and lead.

 

[obediah]

That is the trouble with theory, that it is it is just that- what is taking place today has never in history before happened actually; you see it is the tech of it all that is the real threat- everything is instantaneous, the consolidation of control is almost complete, that is what the Corporate proxies are all about the Gov's will control the people via the Corps in ways they could not otherwise have done; and most do not know perpetual Corporations were illegal entities in US up until Mr. JP Morgan himself saw to it that that was changed around 1908. Corporations used to be very limited both in time and scope, they could only exist for a specific project- purpose and were time defined for the same. Today they are created by Gov, thus are actual proxies of Gov.

As for "money" today it is made from NOTHING, it is digits on paper or on computer screen therefore it could not possibly be paid back; all money that is loaned out is debt based, in the end the entity that loaned the money it made out of thin air can't be paid back- in fact that is not what they want[ed] from the start- you see debt is the key to understand their strategy of control and ultimately ownership of even the people. When money is made from nothing in the end they who make the money control everything, including you and me!

 

[Rich Hartford]

Silver closed @ $19.66 on May 12th the highest price since mid-March 2008. I personally think both Silver and Gold prices are headed straight up.

I don't know about straight up the last time that happened was in early 80's and it went down like that too right after it went straight up.

As I understand it the US Gov Banking proxies like JP Morgan and couple others, you know the ones that are as they say too BIG to fail have paper shorts on Silver and gold far in excess of the clearing house supplies which makes for an interesting unwinding of them shorts when they do- of course the exps seem to just keep being pushed off and/or PM's take an occasional BIG dive allowing the short shorts to unwind without the huge losses and of course they load up on more shorts too.
Our biggest problem is the "LAW", you know those ho are in charge to make sure the playing field is level are incahoots- as corrupt as they can be today.

Speaking of JP Morgan,him and Sam Colt are planted within walking distance of my house.
HH
Rich

 

[puckhead]

In March 2008 silver actually closed above $20 for a short time. I remember licking my chops saying if only we hit $25 I'm sellin but it never got there. Maybe this time what with the way all the politicians are screwin the world up. Here is a link from Kitco that may be of some use for those history buffs:

http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx

HH all.

 

[fistfulladirt]

Where are the Hunt brothers when you need 'em?

 

[kd5txx]

I hope it never comes down to this, but the three metals I am accumulating are gold, silver and lead.

I like the way you think.
I even go as far as collecting wheelweight lead. So I can mold my own.

 

[CHAINCHOMP]

man! we need to hurry and catch all of the silver b4 its to late w/ all of the silver prices rising and whatnot!

 

[myprecious]

I'm selling 10oz .999 Academy stacker bars for $1.25 over spot.
All you can eat - PM me if interested.
Minimum 50ozs (5 bars)




High ho Silver, awayyyyyyy.

 

[WormtownFJR]

Here's the link: http://news.coinupdate.com/gold-price-sets-all-time-high-silver-reaches-month-high-0273/

I hope it never comes down to this, but the three metals I am accumulating are gold, silver and lead.

Who makes lead bars and coins?

Seriously, I would enjoy the status quo for a couple of more years. Complain all you want about J.P., but if they are keeping the price artificially low I'm good with them. I don't have a Smaug sized pile of silver like some of y'all. It's giving all us "common folk" a chance to have a little something to help us survive the upcoming economic turbulence.

 

[fistfulladirt]

Heavy industrial use of silver is driving the high price. ffd