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Thread: Ouch, Silver will drop to $24 now

  1. #11

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    Terrible fate....then it's not just a clever name...
    "Wealth obtained by fraud dwindles, but the one who gathers by labor increases it."

  2. #12

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    I'm very temped to go all in at 26.00 a ounce. I''m buying if you want to sell your silver cheap and get out.

  3. #13

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    You do realize May is a big sell off month, right? Sell in May then go away, that phase is well known for a reason.
    "An investment in knowledge always pays the best interest."
    - Benjamin Franklin

    "Knowledge talks, wisdom listens."
    - Jimi Hendrix

    United we stand, Divided, we fall.

  4. #14
    Join Date
    Sep 2009
    Posts
    4,558

    Lightbulb IMF Gold Rumour Bull - BS

    Quote Originally Posted by cornflakesdisease View Post
    JP Morgan is unwinding a lot of shorts in silver, the IMF is buy 220 tonnes of gold. so something is definitely up.

    Those JP Morgan trading loses were an unwind too, not an opps. Something big is coming.

    Repeat of 2008 (dollar strengthens, metals collapse, then "bazinga)?"
    220 tonnes of gold aye???

    IMF To Buy Gold? Not


    A great example today of the children’s game Chinese whispers (or Telephone for our America friends) and poor journalism in the gold blogosphere (thinking the internet is about journalism is idealistic of me, I know). I’ll focus on Zero Hedge as the example because they are a high profile website from which many other bloggers and commentators pick up stories. Knowing how influential they are, you’d expect them to at least apply some basic journalism fact checking before breaking news

    Yesterday Zero Hedge posted the following heading “Meet The Latest Converted Gold Bug: The IMF”. Its key “news” is this republished quote from a Commodity Online post, also dated the 14th:
    “The International Monetary Fund (IMF) is planning to purchase more than $2 billion worth of gold on account of rising global risks.”


    “how easily information can become corrupted by indirect communication. The game has been used in schools to simulate the spread of gossip and its supposed harmful effects”.

    http://www.perthmintbullion.com/au/Blog/Blog.aspx


    H
    Last edited by Holdfast; 05-14-2012 at 11:37 PM.

  5. #15

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    Quote Originally Posted by uksilverhoarder View Post
    I pray for $18 silver and I will sell anything I can to raise cash to buy buy buy!! 2008 crash happened due to different reasons though I think, so I dont think silver will fall below $20..
    I also pray for $18 silver. $26 silver would be nice. That would definitely be a buying opportunity. $25 is nothing compared to the $100 it will be worth in a few years. I predicted a short-term bearish momentum. But in the long-run the deficit will continue to grow, there is no question there has to be QE3,4,5, ....infinity. Interest rates MUST be kept at 0%. The banks can't afford to pay people interest, the banks need low interest to actually encourage home buying rather than have prices decline even further, the government needs 0% interest to just stay afloat. In the end the US Dollar will fall much more than the Euro and a War with Iran will kill the Dollar. The days of foreign nations using dollars to pay for oil and using the dollar as the sole Reserve currency is fading. Nothing lasts forever especially when undeniable abuses of power are committed. Political systems and economic systems are never the problem. The problem is the people that run the system, make the laws, and oppress the average person.


    Quote Originally Posted by Richie3888 View Post
    Sell sell sell. Buy again in December once it's $9 an ounce.
    I doubt silver would ever go below $15 but if it was ever $12 an ounce I would go all. There will never be $8 silver because of inflation, government debt, Quantitative Easing policies, abuse of power, manipulation of the currency, the false inflation numbers and CPI, the lack of security and rising fees at banks, increased debasement and weakening of the dollar, low interest rates, a declining silver production, increasing silver demand, rising middle classes across the developing world, and the list goes on and on.

    Even if I bought at $20 and it dropped to $10 it never really is a loss. It will always be one ounce of silver and silver is finite. Holding dollars can and will give losses and dollars are infinite. Keeping silver and gold leaves no paper trail and can't be stolen by the bankers to help pay CEOs multimillion dollar salaries+bonuses. We all saw that assets can be frozen by the government or the courts, seized to cover any debt, and take losses. Gold and silver are the metals of free people.

  6. #16

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    I can't believe people are talking about 12 dollar silver here.

  7. #17

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    Quote Originally Posted by seascape195 View Post
    You do realize May is a big sell off month, right? Sell in May then go away, that phase is well known for a reason.
    There are seasonal effects, to be sure. But much of that phrase is about as insightful as astrology. Outside of seasonal events there are world events. When shocking things happen in the world, black swan moments outside of the regular pattern of events, they swamp seasonal factors.

    Terrible things are coming to the Eurozone, and trouble is in the post for the rest of the world. That sounds pretty risky for me. So I'm getting out of my British pounds, as the UK is not in good shape.

    Currency depreciation is baked into the cake for the USD and GBP (and others). I won't be able to get as much shiny for my USD/GBP in coming years. Perhaps these currencies will cease to exist. But my shinies will persist.

  8. #18
    Join Date
    Oct 2011
    Posts
    25,750

    Default

    Quote Originally Posted by Terrible_fate View Post
    I'm very temped to go all in at 26.00 a ounce. I''m buying if you want to sell your silver cheap and get out.
    it has to get there first?????? not a given, but a possibility..good luck with that.. never go all in with anything though is a good rule to follow...

    INCT

  9. #19
    Join Date
    Feb 2012
    Posts
    5

    Default Keep on droppin

    Love to see the price dropping like this. I'm checking the charts all the time now in anticipation of new lows. Down,down, down baby...then I'm gonna buy, buy, buy!

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