Who here really thinks Gold and Silver will reach historic highs anytime soon?

[$ilver$urfer]

I do not, which is why I sold 80% of my holdings a few months back at around $30/ounce. I jumped ship as I don't believe the power structures and brokers currently in place will let the little people like you and me get rich overnight on gold and silver. I feel that the prices will be manipulated so much and for so long that most everyone will jump ship hoping to recoup some of the money they have invested. I honestly do not see a day where there are gold and silver backed currencies and if there are there will be confiscation like in 1933. I haven't even bought any more silver at $22-$23 an ounce which is stupid cheap. Sorry to be such a Debbie-downer, but I am now only investing my time, energy and money in food, protection, family and faith.

HH,

$ilver$urfer

 

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[jim4silver]

It depends on what you define as "short term". If you mean 1 to 3 years, I say definitely will get new high in silver. What I predict will happen is many of the PM bugs who have converted to the "dark side" (that place where people like TreasurePirate live) will start to panic if/when silver starts going back up and once it hits, say $30, will start buying again and become PM bulls. I don't mean you specifically Surfer, but I have observed this phenomenon in the past "corrections" in PMs. I call those types of folks the buy high, sell lower crowd.

Gold and silver have been considered money for 3 thousand years. I would rather bet on that trend than betting on paper instruments for the next few years. Just like in PM bull markets, the paper markets tend to have their greatest gains in the final throes of the bull market. Look at the nasdaq in the late 90's to early 2000's.

Jim

 

[TreasurePirate69]

Jim, I am your father....

 

[SusanMN]

Not while the stock market it hot. It needs a big correction and then a period of time where it either continues to drop or doesn't go up before people will turn back to gold.

 

[TreasurePirate69]

I do not, which is why I sold 80% of my holdings a few months back at around $30/ounce. I jumped ship as I don't believe the power structures and brokers currently in place will let the little people like you and me get rich overnight on gold and silver. I feel that the prices will be manipulated so much and for so long that most everyone will jump ship hoping to recoup some of the money they have invested. I honestly do not see a day where there are gold and silver backed currencies and if there are there will be confiscation like in 1933. I haven't even bought any more silver at $22-$23 an ounce which is stupid cheap. Sorry to be such a Debbie-downer, but I am now only investing my time, energy and money in food, protection, family and faith.

HH,

$ilver$urfer

Well, I agree that we probably will not see historic highs anytime soon. But based on your reasons why you think this I see that you have not even begun converting to the dark side yet. Let me help you with that.

1. Manipulation: This is the constant battle cry of the PM bulls who just can't figure out why in the world the price never goes up like they expect it to. Unfortunately, they see manipulation as a one way street when in fact it works both ways. The 2011 silver high of $49 is much more likely to be attributable to manipulation than today's lower price. The average yearly inflation adjusted price of silver since 1964 is only around $17. So to think that a $50 price is "normal" is absurd. The high prices since 2008 are due to one thing: fear. That fear is gone so the price will come down significantly. This is not manipulation at all. If anything, scared investors (like me) "manipulated" the price up way beyond what it should have been in the first place. If you find yourself only looking at manipulation in one direction then there is a good chance you are being narrow minded. And if your answer to why things never go the way you expect is because of manipulation, then it is more likely that your expectations are wrong.

2. I agree that there will never be another PM backed currency. Why? Because it makes no sense. Most PM bulls like to say that every fiat currency throughout history has failed. This is a fallacy since there are still fiat currencies around that have not failed and may never fail. HOWEVER, a 100% true statement that you never hear from PM bulls is the following: 100% of all attempts to use a PM backed currency throughout history have failed. This is the absolute truth. And the reasons they always fail is because they don't stop governments from spending or inflating the currency supply. They also result in arbitrage which causes the gold resources to quickly leave the country which leaves the government insolvent. There are good reasons why we went off of the gold standard and they are the same basic reasons that have always happened throughout history. Wanting a PM backed currency is akin to wanting to induce failure in your currency and your government.

3. Gold was not "confiscated" back in 1933. Confiscation implies being taken without being compensated for it. All gold that was required to be turned in was exchanged for dollars. It is true however that the deal was not very fair given that the government went and changed the price of gold shortly thereafter. But gold was still not "confiscated". It may seem like semantics but the term "confiscated" is not correct and is designed to create fear in those that are easily swayed by the powers of the "other" dark side.

 

[mercury1]

Not while the stock market it hot. It needs a big correction and then a period of time where it either continues to drop or doesn't go up before people will turn back to gold.

I agree with you Susan. And I think a big correction is coming. I think the stock market is on a QE sugar high and at some point, will come crashing down like a house of cards.

 

[$ilver$urfer]

Thanks for all your feedback folks, I love gold and silver, especially silver, so don't get me wrong. I just was sick and tired of sitting and waiting on thousands upon thousands of dollars of silver doing nothing for me so I sold most of it and invested in real-estate, which is my primary love. I wouldn't say I lost any money but I wouldn't say I gained any either, pretty much an even cash out. Jim is right, I'll probably buy some more silver again, but only when it gets closer to $30, lol! I know I should look at both sides of PM prices but my mind is focused at looking at all the evil and corruption in the world so I just feel like folks like us can't get a fair shake! It should be noted that I spend a lot of time on Drudge Report so that may have warped my mind and world view a bit!

HH,

$ilver$urfer

 

[TreasurePirate69]

Thanks for all your feedback folks, I love gold and silver, especially silver, so don't get me wrong. I just was sick and tired of sitting and waiting on thousands upon thousands of dollars of silver doing nothing for me so I sold most of it and invested in real-estate, which is my primary love. I wouldn't say I lost any money but I wouldn't say I gained any either, pretty much an even cash out. Jim is right, I'll probably buy some more silver again, but only when it gets closer to $30, lol! I know I should look at both sides of PM prices but my mind is focused at looking at all the evil and corruption in the world so I just feel like folks like us can't get a fair shake! It should be noted that I spend a lot of time on Drudge Report so that may have warped my mind and world view a bit!

HH,

$ilver$urfer

Hey $ilverSurfer, don't sweat it. I love gold and silver too. I believe you made the right choice in getting out now because I think you will be able to buy back in after a couple of years at significantly lower prices. And I think you'll have plenty of time to do it. I've been trying to get myself to pull the trigger on selling some gold (at a slight loss) and I have lost a decent amount of money through my procrastination. I could have sold at a slight profit last year but figured I'd just hold it and play the wait and see game. Now I'm kicking myself. So kudos for having the conviction to sell when you did. We may both end up being wrong but at least you acted on your beliefs and are no worse off for it.

As far as the idea that the world is evil and that the Fed/Government is trying to control us, I've never bought into that philosophy. Even when I was a major PM bug it wasn't because I believed in the "new world order" theory. Governments are made up of people and people can be evil. But in general, it is virtually impossible for an entire elected government to get on the same page to create a scheme as diabolical as what some people claim is going on. Our government can't even agree on the simplest of topics so how in the heck could they all pull together in order to enact a plan of complete and utter control of the populace? That doesn't mean that there aren't a few power hungry individuals out there. But it takes more than one or two evil people for world domination.

As for the Fed trying to devalue the dollar, I don't believe in that either. The group that would suffer the most from a failing dollar would be the banks. They already get killed by inflation. When you go get a 30 year, $100k house loan from them, by the time you pay that off the original principle is only worth about $30K due to inflation. If they aren't getting enough interest off of you and the inflation rate goes too high then it is a losing proposition. Also, if hyperinflation occurs then that $100K is now worth next to nothing. The bank loses pretty much everything on that loan if the dollar goes to zero. In the case of hyperinflation it is the borrower that benefits. Banks make the most money when the economy is good, inflation rates are low, and interest rates are high. So I find it hard to believe that the Fed is purposely trying to ruin the economy, keep inflation rates high, and keep interest rates low. This is the exact opposite of what would benefit their fellow bankers.

I could go on and on but suffice it to say that I just don't believe the whole "end of world" nonsense that has been going around for the past 5 years. I DID believe it at one time. But after considering it a bit I found that the theory doesn't seem to hold water. That's just my personal opinion.

 

[Marchas45]

Watch out SilverSurfer the Pirate has you in his grips. As for me I'm in for the long haul. Up or Down. I don't believe it's the Fed that's trying to crash everything but the ELITE and when their ready it's going to happen. And I'll Be Ready. Keep Stacking Obi-Wan Kenobi - Has Spoken

 

[TreasurePirate69]

Watch out SilverSurfer the Pirate has you in his grips. As for me I'm in for the long haul. Up or Down. I don't believe it's the Fed that's trying to crash everything but the ELITE and when their ready it's going to happen. And I'll Be Ready. Keep Stacking Obi-Wan Kenobi - Has Spoken

View attachment 796536

The Elite? And who exactly would that be? And why would the elite gain from crashing everything? I'm assuming you are talking about billionaires right? Why would billionaires choose to make their own wealth disappear by crashing the dollar? The man who doesn't have two cents to rub together has nothing to lose from a crashing dollar. The ones that lose the most are the ones that have the most. And these are not the droids you are looking for...

 

[jim4silver]

The Elite? And who exactly would that be?

I don't know the answer, but let's look at some quotes from the famous. First, we have Woodrow Wilson, and from his 1913 book called The New Freedom:

Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.

Here is a quote by Charles Lindbergh Sr., more about the fed reserve but kind of relevant:

This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The trusts will soon realize that they have gone too far even for their own good. The people must make a declaration of independence to relieve themselves from the Monetary Power. This they will be able to do by taking control of Congress. Wall Streeters could not cheat us if you Senators and Representatives did not make a humbug of Congress... The greatest crime of Congress is its currency system. The worst legislative crime of the ages is perpetrated by this banking bill. The caucus and the party bosses have again operated and prevented the people from getting the benefit of their own government.

Jim

 

[TreasurePirate69]

I don't know the answer, but let's look at some quotes from the famous. First, we have Woodrow Wilson, and from his 1913 book called The New Freedom:

Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.

Here is a quote by Charles Lindbergh Sr., more about the fed reserve but kind of relevant:

This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The trusts will soon realize that they have gone too far even for their own good. The people must make a declaration of independence to relieve themselves from the Monetary Power. This they will be able to do by taking control of Congress. Wall Streeters could not cheat us if you Senators and Representatives did not make a humbug of Congress... The greatest crime of Congress is its currency system. The worst legislative crime of the ages is perpetrated by this banking bill. The caucus and the party bosses have again operated and prevented the people from getting the benefit of their own government.

Jim

And there are still people who feel the Free Masons run the whole world. Although there may be a shred of truth in all of this, the reality is that these people can manipulate but 10% of the world. Beyond that they are helpless to really change things. The bottom line is that billionaires are billionaires because they have the desire to be in control of their own lives. These powerful billionaires are not going to bend down to some organization and give up everything they have worked for or have. Human nature is pretty clear in this regard. Humans do not want to be controlled. And if there is nothing in it for these billionaires and elites beyond what they already have, then why would they ever succumb to the pressure to join some mysterious group? To what end other than to have less power and less money than they already have?

And even if many of these billionaires did bow down and join the ranks, not all of them would and not all of them would be invited to. So these people who either refused or were not invited to the party will surely speak out about it. For example, the new world order can't exist without countries like North Korea being involved. But what organization in their right mind would invite that little pig to their party? So isn't he going to make a major stink when he finds out that he is not being included in the new world order? Of course he is. The bottom line is that such an endeavor, although fun to fantasize about, takes an effort the size of which defines human nature.

As for Charles Lindbergh Sr's quote... evidently back in 1913 the "day of reckoning" was only a few years removed... I didn't know that "few" meant "more than 100". What you've provided is proof of nothing (and I've done the same). There are plenty of people who would have you believe that this mysterious group of elites exists. That mysterious group has existed in one form or another since medieval times. Like Big Foot, if it really existed in the scope and scale that so many claim it does, it would be impossible for it to not have tipped its hand by now.

 

[Stymie]

The biggest demographic in history will steer this ship until long after they are gone.
Millions upon millions of Boomers will stop feeding funds to the markets & will be
withdrawing assets. Paper assets.
The whole Boomer sailing into the sunset dream relies on more people paying the freight.
The Boomers didnt make enough kids to pay, & the Ponzi will collapse ultimately.

 

[AlanT]

I agree with you Susan. And I think a big correction is coming. I think the stock market is on a QE sugar high and at some point, will come crashing down like a house of cards.

Totally agreed, by 2015 we should be in the 13200 range. Watch what gold and silver does then.