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Thread: Silver may drop to $20 by 2014

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  1. #1
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    Silver may drop to $20 by 2014

    “Insanity is often the logic of an accurate mind overtasked”
    ―Oliver Wendell Holmes Sr.

    “Dubium sapientiae initium"
    -
    René Descartes

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  3. #2
    Charter Member
    us
    Mar 2009
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    LMAO diggemmup, one thing that they didn't mention in that article was the manipulation in the market which is holding back the PM's. I for one believe Silver is really going to take off when the Derivatives Market Collapses which is going to be soon. As Jim say's Just My Opinion.

  4. #3
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    Well, I for one am in it for the long haul. If it hits $40 again, I will probably unload. Until then i'll sit back and watch and continue to buy whenever I can afford too.
    “Insanity is often the logic of an accurate mind overtasked”
    ―Oliver Wendell Holmes Sr.

    “Dubium sapientiae initium"
    -
    René Descartes

  5. #4

    Apr 2008
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    I disagree with that price projection. The only way silver will be that low in 2014 is if all the problems with the euro, the dollar, the national debt, etc etc are fixed. Anyone think that is going to happen? The rise in silver that I believe will happen either later this year or in 2013 is not related to silver's many industrial uses and demand for such, but instead is tied to silver's past role as a storage of monetary value, and that it will ride gold's coat tails and probably eclipse gold's rise percentage wise as things heat up.

    There are many world events that seem to be heading to a boiling point in the near future. I personally believe we will see another big bank failure this year like in 2008 that might cause PM's to fall along with stocks. Perhaps we could see paper silver at 20 this year (I wish it would happen so I could buy more cheaper), but by 2014 PMs will be the in thing if not much earlier.

    And of course, just my opinion.

    Jim
    R.I.P. Rich Hartford

  6. #5
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    As Marchas said, with the derivatives market being unregulated as it is, the bubble will eventually burst, it's simple physics. I found the article amusing and figured I'd post it to get some commentary going. As for the banks, I agree, all the major banks in this country are teetering on the edge of a cliff in a windstorm, one good gust and they will fall. I'm just wondering who is going to be first. Thanks to Dodd-Frank and the Obama admin., we the taxpayers will be responsible for future bailouts of failed derivatives, not those actually responsible for the mess. Get ready, they aint using any grease.
    “Insanity is often the logic of an accurate mind overtasked”
    ―Oliver Wendell Holmes Sr.

    “Dubium sapientiae initium"
    -
    René Descartes

  7. #6

    Apr 2008
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    Quote Originally Posted by diggummup View Post
    As Marchas said, with the derivatives market being unregulated as it is, the bubble will eventually burst, it's simple physics. I found the article amusing and figured I'd post it to get some commentary going. As for the banks, I agree, all the major banks in this country are teetering on the edge of a cliff in a windstorm, one good gust and they will fall. I'm just wondering who is going to be first. Thanks to Dodd-Frank and the Obama admin., we the taxpayers will be responsible for future bailouts of failed derivatives, not those actually responsible for the mess. Get ready, they aint using any grease.

    Diggumup,

    I am not so sure that the gov will be able to bail out the banks if/when the derivative mess collapses. I would agree that they would if they could, but the alleged amount of outstanding derivatives is amazingly high. I have attached a link below to an interesting site that talks about how much outstanding derivatives exposure that 9 large banks here in the US have.

    I don't know if the stated numbers and other alleged facts regarding the banks they list are accurate, but if they are correct, the losses could be several multiples higher than our current national debt. There are some very cool graphics too in the article that display how much cash would make up the amount of derivatives involved. Also gives a good explanation of what a derivative is.

    Thus, in my opinion, if/when the derivatives implode, it will require a complete makeover of our and the world's financial system, and perhaps require the creation of a new currency here. It won't be pretty. Whether or not PMs will even protect a person in such a situation remains to be seen, but I am betting that they will.


    Derivatives - The Unregulated Global Casino for Banks


    Jim
    Last edited by jim4silver; Jun 17, 2012 at 08:24 AM.
    R.I.P. Rich Hartford

  8. #7
    us
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    Apr 2012
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    Economy great = precious metals are low.

    Economy bad = precious metals are high.

    We are losing 4 BILLION a day in interest on our national debt.

    I have little faith...and others feel the same. Hold onto your metal if you afford to would be my advice.
    My free puzzle/riddle/code website IS ALIVE! http://www.treasuredhunt.com

  9. #8
    us
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    Aug 2013
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    Well it dropped to $20 guys. lol
    Oldest coin: 1839-O Half-Dime on my property!
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  10. #9
    Charter Member
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    You can lose a fortune lookin back
    diggummup likes this.

  11. #10
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    Quote Originally Posted by Herb Boyd View Post
    You can lose a fortune lookin back
    You can also lose a fortune looking forward to something that never ends up happening...
    TheCoinKid likes this.

  12. #11
    us
    Today's the day! ~Mel Fisher

    Aug 2013
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    Quote Originally Posted by TreasurePirate69 View Post

    You can also lose a fortune looking forward to something that never ends up happening...
    But you could also make a fortune
    Oldest coin: 1839-O Half-Dime on my property!
    2014 Metal Detecting: 1927-P Wheat Penny
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  13. #12

    Apr 2008
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    Quote Originally Posted by TreasurePirate69 View Post
    You can also lose a fortune looking forward to something that never ends up happening...
    You mean like silver going to 16 and staying there?


    Jim
    TreasurePirate69 likes this.
    R.I.P. Rich Hartford

  14. #13

    Dec 2012
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    silver and gold will continue down, market up

  15. #14

    Dec 2012
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    sell now and buy mutual funds

  16. #15
    us
    Jan 2012
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    Quote Originally Posted by jim4silver View Post
    You mean like silver going to 16 and staying there?


    Jim
    I guess you got me with that one. Very true.... VERY true...

  17. #16
    Charter Member
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    Diggin up TEXAS!

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    Quote Originally Posted by Donneybrook View Post
    Well it dropped to $20 guys. lol
    I'd Say diggummup was dead on!

 

 

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