I blame the Russians

[redwolf74]

The falling price of Silver has really got me bummed. I think the increasing confidence in the dollar is great but it is killing the precious metal prices. I'm holding all of my Silver till prices start tickling 15.5 again.

 

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[jim4silver]

In my opinion, silver is gonna break 20 before the year is over. With so much instability in the world, and all the stimulus spending both here and in other places, PMs are a safe bet.

Jim

 

[redwolf74]

20 would be sweet. But I would think that a little high given the historical trend.

 

[jim4silver]

It passed 20 in spring 2008. It hit near 50 in the early 80s.

I am not an expert, but I imagine the economic factors that favor PMs are gonna be better in the future than they were in the two previous times above. Also, I wonder what the inflation adjusted price would be to equal the high in the early 80s?

Historically, bull markets in PMs last at least 10 years, sometimes 20 years. If this one started in 2000 or 2001, we are probably not done. They say that the highest gains are usually towards the end of the bull run, like other bubbles (stock market, real estate), etc.

Look at a chart of the nasdaq for 1999-2000. Who would have thought it would have gone up so much back then. And who would have thought the dow would go from 14000 to mid 7000s in a little over a year.

Anything can happen in these crazy markets. But unlike paper, there is only so much gold and silver above ground.

Jim

 

[Rich Hartford]

I'm with you Jim

 

[obediah]

The falling price of Silver has really got me bummed. I think the increasing confidence in the dollar is great but it is killing the precious metal prices. I'm holding all of my Silver till prices start tickling 15.5 again.

The dollar is doomed, and those in power whether Republican or Democrat are only managing its decline- demise; they are Globalists & envision, and it does look like they will succeed, a world currency & World law making body. Price of Silver PM's in general is totally manipulated, the Gooberment uses 3 major Banks to do their dirty work- they hold massive short contracts on PM's. It should be illegal for Banks to trade on paper PM contracts! They make massive profits at our expense with our gov's collusion in managing metals prices.

 

[DAS7NY]

Silver went to $50 in 1980 because 2 guys did it illegally controlling most of the silver. It won't hit $50 unless something very big happens...

 

[jim4silver]

Silver went to $50 in 1980 because 2 guys did it illegally controlling most of the silver. It won't hit $50 unless something very big happens...

Oh really? The price of gold hit a record high (up to that point in time) in 1980 as well ($850 per ounce, which I have read would equal over $2000 per ounce in today's money adjusted for inflation). Did the two guys control that too?

Jim

 

[kestrelia]

This post somes up the story of the Hunt Brothers and their cornering of the silver market in 1980 rather well:

http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html

-Brian

 

[wharghoul]

No need to blame the Russians, look inward young grasshopper.

The President's Working Group on Financial Markets (a.k.a The Plunge Protection Team) does a knock-up job of suppressing the prices of precious metals, thus strengthening the dollar. They've all but admitted to buying and selling large chunks of gold etfs.

Throw in the CFR, the Trilateral Commission, the Illuminati, and of course our unconsititional Federal Reserve.....The U.S. Government (elites) are doing just fine screwing things up all by themselves..

 

[Mentone Grizz]

..........and don't forget the Knights of the Golden Circle!!!!!

 

[TxTim]

I'm with you Jim

I second the motion.

 

[coinmojo]

This post somes up the story of the Hunt Brothers and their cornering of the silver market in 1980 rather well:

http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html

-Brian

The Hunt brothers were attempting to corner silver. Instead, the financial industry insiders had created a "short corner". The Hunt brothers had a huge position they had to liquidate, and the financial industry insiders were the only legal buyers! Only someone with a preexisting short position could buy! The financial industry insiders had "cornered" the right to buy silver futures contracts, while there was a huge seller!

Of course, criminal charges were pursued against the Hunt brothers for attempting to corner the silver market. The financial industry insiders changed the rules of the game to bankrupt the Hunt brothers. Of course, what they did was perfectly legal. That aspect is amusing to me. The Hunt brothers, who lost a fortune, were criminals. The financial industry insiders, who changed the rules of the futures exchanges to bankrupt the Hunt brothers, were not accused of criminal activity at all.

The silver price crashed. Many individuals bought silver after the Hunt brothers pushed up the price of silver. The MSM said that gold and silver were discredited as an investment.

The bottom line is that if you aren't a financial industry insider, you aren't going to profit borrowing to buy assets. If the Hunt brothers had taken an unleveraged long position in silver, they would have made a nice profit, and there's nothing the financial industry could have done to screw them over. Without using leverage, the Hunt brothers wouldn't have been able to push up the silver price that much, and they wouldn't be exploiting negative real interest rates and defects in the margin rules. The financial industry insiders will *ALWAYS* be bailed out by regulatory changes or by the Federal Reserve. In this case, the financial industry insiders had huge short positions. The insiders were bailed out regulatory changes and by the Federal Reserve jacking up interest rates, causing a temporary money supply crash.

Aint that something.

 

[Cherryman68]

That's what the germans would have us believe.....