WOW! Hit the $40 mark "silver"

Discussion in 'Financial Cents' started by ISplatU, Apr 8, 2011.


  1. ISplatU

    ISplatU Monkey+

    Wow, I bought silver about a year ago for $17 an ounce. Today if hit the $40 mark. I wish I had not sold most of my silver when I was out of work for three months this winter.
     
  2. kckndrgn

    kckndrgn Moderator Moderator Founding Member

    I feel for ya. I started buying when silver was around $12.00/oz.
     
  3. TnAndy

    TnAndy Senior Member Founding Member

    In a year or so, when it hits 100, you'll be wishing you bought it today at 40.
     
  4. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    You should not feel bad though. It did exactly what it was suppose to do. You had converted FRN's into something of stable value to be used in a time of need.

    Same thing happened to me. I was out of work for months. But we didn't need to go to the grocery store at all. We burned up the preps and used the cash in reserve to pay the bills (mortgage and insurances). We are starting all over again as the food/paper products/medicines were consumed and the rainy day fund was exhausted.

    Just hoping i've got enough time. Planting season is almost here so that will surely help get canned food into the larder.
     
  5. Tikka

    Tikka Monkey+++

    The problem is the price of what you need to buy will increase also.
     
  6. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Not really a problem. Just a fact of life. Preps are preparation for unexpected events which could include: USD crashing, loosing a job, Tornado or TEOTWAWKI.

    It's not going to keep me from resupplying or buying something that i need. If i need 1000 feet of 5/8 stainless steel cabling or A Mega bottle of Aspirin or 55 gallons of fuel to fill in a hole in the preps, and it cost twice as much today as it did yesterday and I only see the price rising in the future. I'm probably going to get it, maybe not as much as i wanted to get yesterday but it's still in my plans to add/resupply it into the preps.
     
  7. ISplatU

    ISplatU Monkey+

    $41 in same day

    It is 11:00 and the price is $40.97 that is close enough for me to $41 to say it is, in the same day it broke $40.

    What happened to the friday down fall before the weekend?

    I guess the down fall is the dollar.
     
  8. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I wonder if it's the potential for a US gobermint shut-down that's got peeps afeered.
    [booze]
     
  9. Falcon15

    Falcon15 Falco Peregrinus

    Nope. The dollar being removed as the "reserve currency" of the world does...according to George Soros, it has already happened...once the traders on wall street get a hold of this tidbit, let alone foreign investors/countries...watch the Asian markets Sunday night, about 7:30 PM CST...The Soros speaks...

    YouTube - Soros Says ECB Rate Hike "Inappropriate" in Debt Crisis
     
  10. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    and silver continues it's rise over seas. 41.35

    This is gonna be a hellova week. Oil Up, PM Up wonder where the dollar is gonna go?
     
  11. Falcon15

    Falcon15 Falco Peregrinus

    Into the basement.
     
  12. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Well as long as it's falling into my basement. I'll use the bills to cover my tax liability, save the pre 65 silver and use the rest to buy preps.
     
    Falcon15 likes this.
  13. TnAndy

    TnAndy Senior Member Founding Member

    Weeeeeeeeee......silver sprouted wings today !

    42.18, up 1.52 (kitco)
     
    Falcon15 likes this.
  14. melbo

    melbo Hunter Gatherer Administrator Founding Member

    I remember people thinking they'd missed the train at $12. It's not too late to get into the game.
     
  15. TnAndy

    TnAndy Senior Member Founding Member

    Yeah....they looked like that guy in your avatar....the moaning and crying that went on....ahahahaaaaa

    Was looking at an old thread somebody dragged up on another board where the OP was saying NO WAY was he gonna buy gold now that it was up to the peak it hit in 1980 ( 850'ish/oz ), because he just KNEW that was it !! It was going down hard and deep !! DIVE DIVE DIVE !!

    People will be saying the same thing when silver hits 100 and gold hits 3,000.......and still have it wrong.

    The fundamentals have changed, folks.

    More people, more demand, less metals, and then throw in the FED printing like drunken sailors, and I'm not sure WHERE the top is, or if there is one. At some point, the dollar price is simply going to be irrelevant because NOBODY will take a paper dollar for anything but stove fuel.

    Coming to a stove near you:

    [​IMG]
     
  16. ghrit

    ghrit Ambulatory anachronism Administrator Founding Member

    Heh. I missed the boat at 6 bux. Passed up a 1000 oz ingot of 99 fine in the mid 70s. I thought the guy was gouging me.
     
  17. melbo

    melbo Hunter Gatherer Administrator Founding Member

    I bought at $6 mid 'oughts
     
  18. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I thought i might bump it. Closing in on 46 .. 50 by the end of the month? This is a wicked cool ride. Just wish i jumped on earlier. but dollar cost averaging all a long the way.
     
  19. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Just played Scrooge McDuck with my daughter... let her dump a few bags on the floor. Wife thought I was crazy at $5 and $6 bucks/oz. closing in on a 10x return.
     
    VisuTrac, ghrit and Falcon15 like this.
  20. Falcon15

    Falcon15 Falco Peregrinus

    Yeah, I think so. Sad thing is the FRN slide down is accelerating. S&P just whammied the US again today:
    S&P: The Ratings Downgrade Will Push The US To Default
     
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