Central banks have punished savers with record low interest rates and rewarded all the spenders with easy sub-prime credit, first in home ownership, and now with 1% 6 year loans on car purchases. First Bernanke manipulates negative savings account interest rates. But now we see that savers recognize new hurdles by depositing their hard earned money in a bank savings account. The government of Cyprus sets the example for all governments in need of extra funds (to get extra sovereign loans). Governments will simply harvest (tax) large portions from the savings accounts of prudent savers. But since they are "prudent", their savings accounts will soon be withdrawn. My guess is that a lot of that withdrawn money will flow to silver and gold. And what will our precious banks do when the run on the banks depletes their remaining "reserve" requirements? Will it be "game over" or will Bernanke come to the rescue with new injections of free money?
Trust in governments is rapidly evaporating. And that loss of trust will soon refocus on the respective fiat currencies of those governments. When you lose faith in a fiat currency, you don't necessarily experience inflation. But rather, you always experience hyper-inflation which we know always results in the demise of a currency.
So will Cyprus ignite the fuse of the next black swan event (of unforeseen massive consequences)? Perhaps! And I'll suggest, as others before me, that you should not sell your silver or gold!
The working/self employed middle class is being manipulated at every angle imagined and not just financially. The sad truth is that some will do the talk, but very few will do the walk. Before the last sub-prime melt down, a large bank with branches in my area, give home loans to welfare for 600K new homes. When the rates rose they walked. So the middle class that still banks there gets almost nothing in interest.
Getting back to the talk and walk, you have manipulation all over stock message boards. Once again, we have a week old spam post. Research the background of a spam post. I'm sure many can see thru it, but how many decided to report it to the SEC and/or the AGO of California. A post that certain Ya employees refuses to remove, when they will remove spam from real news media sites. If you want to do the walk, over talk, then this mention is a good place to start. The SEC anti spam initiative was launched and has targeted the profit potential for so-called pump and dump stock scams, but they need to be contacted.
Investors need to stand up against manipulation, otherwise the talk of silver means nothing.
I don't know where is even begin today, so the following will be all that I'll say for now. There are different ways to manipulate markets, believe me, I have a full list and I'm placing check marks next to a few. I'm not able to reply to hariwonder under his post - as a LI code appears. I wish to thank him in coming to this board and posting. At this time, I need to hold comment as we are being %^&$ by others.
The problem is a thing called “spamola”, a derivative of payola. Payola is a term used by the music industry where music is broadcast as if popularly requested, but in fact the musicians have paid to have it broadcast. It is highly illegal.
In the case of message board, like this one on Yahoo Finance, it has become obvious that something similar is going on here. You’d have to be blind not to see it. So why isn’t it being addressed? It isn’t because Yahoo doesn’t know it exists. In fact it is because, like in the previously cited case of payola, Yahoo is being paid to allow it to exist on message boards.
So what would happen if anyone invested there time, as you suggest, at contacting the SEC? The SEC wouldn’t laugh at you as that would be too obvious. But it is well known that illegal activities in the financial industry are never addressed. The SEC is “captured” by the croouks. Will Jon Corzine go to jail? Not likely. All of officialdom wastes their time on petty criminals to make it look like they are relevant.
Criminal activity has been going on in the financial industry since the formation of the Jekyll Island banking cartel. It is worsening as the croouks have become more brazen, knowing that no one will stop them. Anti-spam initiatives are like laws against using cell phones while driving (the non-hands free type). They are widely ignored because there is little in the way of enforcement. The Declaration of Independence said it best when it stated that:
“...mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security ...”
It looks like we are not there yet.
Agreed!.....Yet govt. can always take or tax your gold "Paper Holdings", i.e., stocks, ETF's etc... even the purchase of physical gold and silver. That is why it's so important to own the real thing BEFORE the s**t hits the fan.
And not just 3 silly ounces; People need to own hundreds to thousands of ounces of silver!
Datbehardwork, I saw you were back posting, so I figured I would sneak a peak to see what you had to say. I assume you are talking about my "3 silly ounces"? Still hung up on my post regarding the coins that I picked up. Just so we are clear, I do not buy coins as investments. I buy them to collect and perhaps pass down to my children when I am gone from this world. Junk silver is the best investment in my opinion. I am trying to collect 1 silver eagle, 1 maple leaf, 1 panda and one koala for each year as a hobby/collection. I will admit that I splurged and spent a little more than I probably should have on a couple of limited edition Transformers silver coins :) Just because I thought they were cool. I have also paid way over spot for a 10 oz. Pamp Suisse bar once. But that was a gift for my wife.
If anybody is interested in coins as investments, I believe the buffalo nickles offer a very good price vs. spot silver. I do still believe Gainesville is probably the best site to use for most coins. At least from my experience. I have also purchased from Perth Mint and Provident Metals and have been pleased with the service.
Sentiment: Strong Buy