I like the idea of forcing Fed into bankruptcy court. They fit the definition of a bankrupt entity.
Also, Fed is such a bad idea.
think of this, is inflation a really bad thing - items should be reduced in cost to almost zero due to productivity and better ideas. Inflation is really a horrible hidden tax. Better to actually have higher taxes as people will get tired of them and press on government leaders. Gold was once $18.92/ounce around 1913, in 1833 (as far as I could find) it was $18.93/ounce. Isn't it outrageous that dollar has devalued so much that gold is now over $1200/ounce ? Makes planning for a retirement hardly possible.
thanks romansilver and lowlander
Some random thoughts...
and responding to comment about Bernanke. If it isn't him leading to inflation, it will be someone else. The last fed guy raised interest rates to slow inflation (Rocker I believe) was done in the 70s-80s but the contrast to this today was we were a creditor nation not a debtor nation.
If they try to raise rates the fragile economy will implode. They are going to keep the rates the same +/- and keep buying at 85 soon to be 200 billion a month. There just isn't another choice. Even if government sharply cuts expenditures (where I don't know military-not, social security-not) the job losses will be so high economy is dead. We are being taxed ultimately by ins flation . In ten years your dollar will be worth todays quarter.
People bought stocks and not PMs this year because they were looking for something to offset inflation or paltry savings rate returns. So far i have been wrong on direction of PM'sfrom Feb-Now this year. But lets see what happens June to December, likely a different story.
we are now back in time into early 2010 silver prices.
so very oversold now, just a matter of short time now before silver seasonality kicks in (silver in 40 years of data shoots up in July to August)
Target 25 end of july or sooner. Fed will not ease back for fear of bank runs, riots and economic disaster.
Tapering talk is fake - a test to see what would happen - markets did not like it.
of either myself for sticking with it, or that people dont see the true value of silver.
No good reason this is going down except some huge sells of people,plopping money into stocks. cant get a bid up these last few weeks
Source case research is where i got the numbers.
Silver’s industrial applications result in destroying it ...
currently a total of only 1,2 billion ounces invest worthy ounces of silver = $30 Billion market
pretty much every ounce of gold ever mined still exists,
i.e all the invest worthy silver is less than 1/2 of the monthly fed 85 billion buy program.
There are a total of 4,6 billion ounces of gold in comes to $6 trillion market
silver/gold ratio is currently about 60:1,
the total value of all the gold on the planet is about 235 times that of silver
the ratio of silver to gold in the earth’s crust is 17:1
gotta think the shorts are very afraid here, their hard earned beat-down looks to reverse in short order based on weak hands ran from the market and it is just the commercials now doing the manipulating,
first it is 1% rise, then a half a percent drop% , then a 2% rise, 3, 5, 2, 5,10,40 rises as people loose the fear and notice the value
in 3 months such a massive move downward on a precious metal with no deterioration in demand (that I can see) indicates to me that this is being commercially surpressed , that only works for a short while in this case a few months, but it is psychologically irritating, like nails on a chalkboard. you would think everyone that has assets in hyperinflating countries would buy - that alone could double, triple the current price, instead people are shuffling into the stocks (buying high and soon selling low in the stock casino)
er typo , I meant bought in oversold and held to overbought , exact points of those who knows?
yeah williams % is good too. I think if you buy around oversold conditions you dont usually go wrong,
test that in last 5 years, if you bought every oversold area - even if imperfectly and then held to oversold, again imperfectly = make a ton of 'money'
there are always unexpected plunges when someone drops a bomb, but can weather that if you have time, but consider this it has gone from 32-22 a large drop, but can it go 22-12?, highly not likely who is going to sell? 22 to 28 is more likely imo
thanks sounds like a potential deal, ThreeDogFarmer, will check them out.
at around 27 seems cheap when it is up over 50 in a year. resistance will be futile for shorts in short order (less than a month or 2) i think.
maybe it is about bankers or just commercials into stocks at the moment, it is the 15th about the same time a take down last month, people think stock market will continue to rise without correction.
not likely (but not impossible) in near term wouldnt be surprised to see a 10% correction out of the blue in stocks.
so what is the prognosis - long and stick with it , dont see it going below 20-21, at that rate minors should be buying it big time.
Physical is difficult to buy - hard to find without a lot of premium added.
someone questioned what I see as oversold is based on - slow stochastics(14,3) =20 , rsi = 29, macd .05 , high sell volume 23m vs 10 m average, 50 ma is $4 under 200 ma.
This is a record for me been wrong 3 months now. Usually when am that wrong , odds are a reversal.
this is down on what fundamentals? Just looks like money going to work in stock market, what will happen when a bit of news happens correcting stock market, or if Euro goes bye.
This continues to languish in way oversold territory. chart just looks strange, stepped take down, pms dont go down forever (or up forever) . my only real err is bullish leverage.
dang-geez-ouch: this psch ops push down on PMs is starting to really get old and irritating.
It is easily explained with stock market getting highs - people putting their money there instead of PMs, and govts desiring to have their currencies 'look good'. but even so, would think people in Argentina, Venezuela , Cyprus and the European sphere would want some tangible 'money' instead of currency.
admit - am getting a beating here, should have put a stop in, but am guess I am a glutton for short term punishment.
ON THE OTHER HAND - it looks so oversold on the monthly, weekly and daily timeframes cant see where the dollars to short are willing to risk it too much more at this level.
I maybe dumb, but think silver is underpriced at 50 an ounce let alone 20 - i guess I will suffer for a while before turn around.
Think that logic is pretty goofy, oversold still Where do they get these jokers ???
He states: "f gold closes below $1,437.50 or $1,438.80, the ultimate downside target becomes $1,383.90. A hold and a close back above here, and furthermore $1,444, will be crucial in order for this market to repudiate this early negativity."Rich Ilczyszyn is the founder and CEO of iiTrader
while there is not a direct correlation between this and European woes and silver price, long term it bodes well for precious metals if the governments there decide to print money to solve the problems
hold true and make money,
cant see that the bears have enough ammo, just one hot bull sends this parabolic
sorry i mistyped - long term i was referring to the shorters strategy of beating silver up while it is down
Ideal- u are definitely one of the wise wons (intentionally spelled wrong) posts keep me sane with all the negative irrationals. I am sticking with silver heading to a 15:1 ratio to gold.
1) silver naturally is about 15:1 ratio to gold, 2) invest silver is 8:1 ratio to gold 3) silver current price is 62:1 (can you spell BARGAIN) 4) silver all time high was $50 5) silver has more industrial uses than gold, only downside is it tarnishes . 6) Texas, Arizona, Utah and maybe Washington state and others are getting out of the dollar game, we could have a sort of financial-currency civil war.
TECHNICALLY: 1) silver extremly oversold 2) silver decline for several months - unsustainable 3) held at support and held at 23 Silver (22 SLV).
shorty - you are right short term, long term I think not so much.
1) silver naturally is about 15:1 ratio to gold, 2) investible silver is 8:1 ratio to gold 3) silver current price is 62:1
4) silver all time high was $50 5) silver has more industrial uses than gold, only downs is it tarnishes
technically: 1) silver extremly oversold 2) silver decline for several months - unsustainable 3) held at support and held at 23 Silver (22 SLV).
any one disputing that?