Has silver started back on a bull run?

[jim4silver]

This recent market action is feeling like the "old days" a little. Hope they don't pull the rug out again too soon.

Video is from yesterday, we have moved up a good bit more today so maybe we are finally ready to resume the bull run?





Jim

 

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[TheCoinKid]

Nice move today, but the overall trend? Who knows? Certainly not me. Just last week, I was predicting a serious beat down.

 

[Marchas45]

Well hell Jim I told you it was going up Yesterday. Lol Keep Stacking

 

[NJcigarman]

It is because of Iraq.

 

[drewbaccas]

It is because of Iraq.

I was just thinking that.

 

[jim4silver]

I was just thinking that.

Since when have fundamental type issues (like QE, debt, wars, weak dollar, etc) mattered with respect to silver's price during the past few years? The price dropped while several formerly PM bullish events were taking place during the past few years. The only thing I can think of is that those "manipulating" silver are either taking a break or have decided to run the price up, like what happened in 2010 to 2011. Of course they could smack it right back down next week if they want.

PS Ratio is going lower pretty fast, went from 67 to 62+ in a matter of days.


All just my opinion.


Jim

 

[drewbaccas]

You cannot deny a correlation between the crisis in Iraq and the price of pms

 

[jim4silver]

You cannot deny a correlation between the crisis in Iraq and the price of pms

That is true, however, correlation does not equal causation.

Jim

 

[drewbaccas]

No I know. JK LOL.

 

[SilverFace]

The Fed will continue price fixing interest rates at 0% and increasing the money supply as the government keeps spending and spending and the U.S. trade deficit and U.S. national debt keeps growing and growing. All these monetary and fiscal policies are extremely bearish for the USD and extremely bullish for PM's. Its just a matter of time before interest rates rise and the USD loses its status as the worlds reserve currency.

Even Steve Forbes just wrote a book about the demise of the USD but not surprisingly he mistaking believes a USD crash threatens the global economy. A USD crash is mainly a U.S. problem because we no longer have the production capacity in this country we once had and we are primarily dependent on the rest of the world for the goods we consume. And we pay for those goods by giving other producing countries worthless USD's. So those other countries would be much better off just keeping their own goods that they produce and stop being suckers for us. Once the USD con game is finally over it will be suckers of this country with all their savings and investments in worthless USD's that will be the real losers. its all just a matter of time. And the longer it takes for this to happen, the worse it will be - for the USD suckers anyway.

 

[jim4silver]

The Fed will continue price fixing interest rates at 0% and increasing the money supply as the government keeps spending and spending and the U.S. trade deficit and U.S. national debt keeps growing and growing. All these monetary and fiscal policies are extremely bearish for the USD and extremely bullish for PM's. Its just a matter of time before interest rates rise and the USD loses its status as the worlds reserve currency.

Even Steve Forbes just wrote a book about the demise of the USD but not surprisingly he mistaking believes a USD crash threatens the global economy. A USD crash is mainly a U.S. problem because we no longer have the production capacity in this country we once had and we are primarily dependent on the rest of the world for the goods we consume. And we pay for those goods by giving other producing countries worthless USD's. So those other countries would be much better off just keeping their own goods that they produce and stop being suckers for us. Once the USD con game is finally over it will be suckers of this country with all their savings and investments in worthless USD's that will be the real losers. its all just a matter of time. And the longer it takes for this to happen, the worse it will be - for the USD suckers anyway.

I agree. With so many countries now making agreements with each other to conduct trade in currencies other than the dollar, it will only be a matter of a few years before we reach a point where the dollar's supremacy is a thing of the past. Although I don't think we will see the dollar replaced as the most "popular" currency unless we have some kind of debt collapse here in the US or unless China/IMF/? creates an asset backed new currency of some sort.

Just my opinion.

Jim

 

[skeeterd]

I don't think china can create a new currency backed by PM's. With the volume of fake silver and gold coins, ect. coming from china and their goverment doing nothing about it, I don't believe any other countries will trust their new currency. JMO

 

[jim4silver]

I don't think china can create a new currency backed by PM's. With the volume of fake silver and gold coins, ect. coming from china and their goverment doing nothing about it, I don't believe any other countries will trust their new currency. JMO

You might be right. I don't know how it would be done in practical terms. The key though is that the currency be backed by something tangible so as to prevent the central bank or gov of that country from being able to inflate like all of them can do with fiat now.

If a country did back a currency say with PMs, it would have to have a convertibility feature to it where holders of the paper could exchange for metals otherwise there would be no way to know if the currency was in fact backed with anything. Without convertibility they could just claim it was backed. Nixon shut the gold off to foreign countries in 71 when he stopped them from being able to convert their dollars into gold (back at $35 per once). Once that ended there was no real accountability for all the inflating since there is nothing to stop it.

Since countries like to have the power to inflate, I don't really see their interest in having a backed currency, unless they for some reason want to make a play as the new world currency and overtake the dollar, which is still the king.

Could always be some other way a backed currency comes to life, maybe through the IMF? Perhaps one will be created some day in the future out of necessity after some big financial wipe out that is caused by the runaway debt and/or inflation, etc, which leads to massive currency problems.

Just my opinion.


Jim

 

[SilverHoarder07]

In the event of the dollar failing you better focus more on having a gun and enough food for you and your family rather than your precious metals..:if you can imagine our 300+ million population country grinding production to a halt and suddenly having no basis for exchange or trade imagine how many individuals will find themselves altering morals, values, beliefs, etc that justify harming you and yours to take care of theirs.

I wouldn't by any means look forward to what you seem enticed by...you will not be rich in the end...you probably won't even be alive.

 

[Peyton Manning]

get your bitcoins! and your iraqi dinars!

 

[Dave44]

get your bitcoins! and your iraqi dinars!

I met a couple at a yard sale last weekend and they told me they had bought a BUNCH of dinars! I asked how that turned out and they said they were hoping that the currency would be held up, when they got the news it would not they dumped them, said they only lost a few thousand!

Looks like the world doesn't have to end for precious metals to be a better investment than a piece of paper?

By the way.. What was the gold and silver price at the time of the speculation of the Dinars?

 

[Dave44]

I also helped with the dispensing of an estate about 5 years ago. We found that the lady stayed up late and was convinced that "semi Precious stones and settings" were a great way to preserve and grow her wealth. All bought from late night TV auctions.

Pennies on the dollar. Sad, her best investments were the overpriced sterling settings she bought.

But I have to say, even though she was way wrong, it gave her pleasure and a feeling of security. If I had known I would love to have told her about Precious metals in the late 90s till about 2009. In my unlearned opinion, her wealth might have increased?

 

[stefen]

Just another hiccup which is not a trend setter...

 

[jim4silver]

In the event of the dollar failing you better focus more on having a gun and enough food for you and your family rather than your precious metals..:if you can imagine our 300+ million population country grinding production to a halt and suddenly having no basis for exchange or trade imagine how many individuals will find themselves altering morals, values, beliefs, etc that justify harming you and yours to take care of theirs.

I wouldn't by any means look forward to what you seem enticed by...you will not be rich in the end...you probably won't even be alive.

Why is it when someone posts a response like this, they always assume owning PMs and owning food plus a means of protection are mutually exclusive? In other words, why is it only possible to own either PMs OR food/means of protection? Is it possible for someone to have BOTH, I guess not.

The last sentence in the post also pops up usually by non PM holders and somehow infers that PMs will be useless because we will devolve into Mad Max land. I personally don't think it will get to that level. If it does though, the average Rambo won't last more than a day or two if the hoards turn on you to get your food and stash of other goodies; thus all bets are off anyway if things go to Mad Max. But if things don't get to "that" level but instead just a run of the mill depression or complete stock wipeout, my PMs will save me. I don't have them to "get rich", but instead to preserve the "wealth" I have. When I see a response like above it says "we are all screwed anyway, so let's just own paper assets and pray for the best". Sorry but I don't get it. Pretty surprised someone with a name like Silverhoarder would post such a response. But at least when I see something like this on a PM type site it tells me the silver and gold "bull" market still has legs (when even PM bug types or those once sympathetic to PMs don't like PMs anymore, the bottom is in or near).


All just my opinion.


Jim

 

[El Dorado Seeker]

Silver made a bump and fell back down again.

Kiyosaki said it will reach 75 $, others expect even 100 $. I'd love to see even the 47 $ level again