Merged Silver Over 40.00 / Real and fake prices

[Puppycow]

Anyone remember what happened in 1980?

 

[djpar]

either

1: when the government stops being retarded

or

2: I need the cash to survive.



I bet 2 will come first. And I am confident, when it comes, the price will be much higher than it is now, because 1 will never happen.

That's what I figured. I asked "where" and you offer an ambiguous answer for "when".

 

[Tippit]

Anyone remember what happened in 1980?

Using Francesca's logic that she uses against me with Treasuries, I take it you're shorting the silver bubble then with all the other haters of sound money?

 

[Eddie Dane]

Anyone remember what happened in 1980?

Went up and up and then came crashing down.

Wasn't that due to some weird scheme by the Hunt bothers?
I'm not sure that one can compare that with the current market.

ETA: from wiki

Silver manipulation

Main article: Silver Thursday
Beginning in the early 1970s, Hunt and his brother William Herbert Hunt began accumulating large amounts of silver. By 1979, they had nearly cornered the global market.[6] In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million ounces.[7]
During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later. The largest single day drop in the price of silver occurred on Silver Thursday.[1]
Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.[1]
In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US$10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market stemming from his attempt to corner the market in silver.[1] This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period.[1]

 

[UWdude]

That's what I figured. I asked "where" and you offer an ambiguous answer for "when".

stupid me. I thought you actually meant like "where" on the chart or at what price point, when you said "where".

If you meant physically "where" in the world would I actually sell the silver....

...on ebay, or at a coin dealership. You know, same place where I got it.

 

[djpar]

stupid me. I thought you actually meant like "where" on the chart or at what price point, when you said "where".

If you meant physically "where" in the world would I actually sell the silver....

...on ebay, or at a coin dealership. You know, same place where I got it.

Yes, stupid you.... I meant where as in price, not when as in circumstances or time (timing is okay), or who as in who you sold it to.

 

[michaelsuede]

silver back over 47 today while gold hit all time highs.

 

[UWdude]

Yes, stupid you.... I meant where as in price, not when as in circumstances or time (timing is okay), or who as in who you sold it to.

silly me, I didn't know I had to choose a price to sell at. My silver, I can choose the circumstance to sell it at. Which happens to be, "when I need the money"

Sorry that isn't the way you would choose to decide when you would dispose of your investments. Lucky for you, I am the one who owns my silver, and therefore, *I* choose the requirements to sell, and not you.

 

[NewtonTrino]

It is humorous that my gold and silver are becoming a larger and larger portion of my portfolio without doing anything. Not that I own a lot of it.

 

[mhaze]

Anyone remember what happened in 1980?

Brillant question, and so pertinant to accurate analysis:

Wait....

Anyone remember what happened in...

1998 1979 1951 1946 1999 1976 1966 1943 1832 1872,,,

I'll stop.

You get the point.

 

[michaelsuede]

Brillant question, and so pertinant to accurate analysis:

Wait....

Anyone remember what happened in...

1998 1979 1951 1946 1999 1976 1966 1943 1832 1872,,,

I'll stop.

You get the point.

He's making a reference to the Hunt Brothers, as if there is a single large speculator out there driving the markets higher.

These days, the bubble is in bonds, not metals.

 

[mhaze]

He's making a reference to the Hunt Brothers, as if there is a single large speculator out there driving the markets higher.

These days, the bubble is in bonds, not metals.

Oh, you know I was just joking. And there is of course a single large speculator out there....driving....the....markets.....<<Answer 1>>>

And the speculator is <<Answer 2>>

Now, who can guess what #1 and #2 are?



I'd like to buy a gourmet hamburger and 22 ounce frosted mug of beer for one silver dollar from the stash.

.....

No...wait...that's so....yesterday....


Today....I'd like a 16 ounce prime ribeye with Cabernet Savignon for that silver dollar.

Thanks.

PS: No matter that the CPI judges me as having made a consumer choice and assigns no credit to the choice of yesterday's steak for today's hamburger....wait....that's US dollar scheming....

 

[djpar]

silly me, I didn't know I had to choose a price to sell at. My silver, I can choose the circumstance to sell it at. Which happens to be, "when I need the money"

Sorry that isn't the way you would choose to decide when you would dispose of your investments. Lucky for you, I am the one who owns my silver, and therefore, *I* choose the requirements to sell, and not you.

stupid is as stupid does, sir.

~ Forrest Gump

 

[UWdude]

stupid is as stupid does, sir.

~ Forrest Gump

I know! I feel sooo stupid. Why oh why did I buy silver when it was $14!? What a gamble! Oh, I could have lost so much money, but instead, I have more than tripled it.

It stabs... it stabs!

 

[mhaze]

I know! I feel sooo stupid. Why oh why did I buy silver when it was $14!? What a gamble! Oh, I could have lost so much money, but instead, I have more than tripled it.

It stabs... it stabs!

You FOOOOOLLLLL!!!!

You could have put it into TBills!

 

[Puppycow]

Using Francesca's logic that she uses against me with Treasuries, I take it you're shorting the silver bubble then with all the other haters of sound money?

Nope, I'm just staying out of it because as Keynes said, "the market can stay irrational longer than you can stay solvent."

 

[Tippit]

Nope, I'm just staying out of it because as Keynes said, "the market can stay irrational longer than you can stay solvent."

And clearly it's the holders of timeless metals that are irrational, and not the teeming hordes and followers of Chairman Ben. Clearly.

 

[The Don]

Prediction:

When the inevitable correction in the price of gold and silver comes, the gold and silver bugs posting to this thread will have claimed to have sold their entire (large) holdings at the peak of the market.

 

[michaelsuede]

How The Comex Lost 20% Of Its “Registered” Silver In One Week

 

[Tippit]

Prediction:

When the inevitable correction in the price of gold and silver comes, the gold and silver bugs posting to this thread will have claimed to have sold their entire (large) holdings at the peak of the market.

I probably will, and it will probably correspond with your capitulation buying. I started buying in 2000.