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I always knew about copper and used to save the coppers I got in change.. then around December I got serious when I found this forum and read every post and started sorting. I want to thank you guys because I decided back then to concentrate on copper and give silver a rest... I have a nice hoard of copper now and I am not fretting the implosion that is going on this week in the other metals. I am happily working the Ryedale and hoarding my pennies. I guess I diversified at the right time...so thanks! Diggin

Copper is taking the hit, too!

Copper's down around 6% or so, in the same time silver has gone down about 30%. Just sayin'.

Economist wrote:Copper's down around 6% or so, in the same time silver has gone down about 30%. Just sayin'.

It's all artificial shorting by the banks anyway to try to strengthen the dollar. No possible way it will stand up when people start demanding physical delivery. Just not enough supply in existence.

Crescendo wrote:Just not enough supply in existence.

I just read an article stating silver refiners are turning away customers because they simply can't process all the scrap silver coming in. So I'm not sure if it's a supply problem or a problem of not enough refineries.

pennypicker wrote:

Crescendo wrote:Just not enough supply in existence.

I just read an article stating silver refiners are turning away customers because they simply can't process all the scrap silver coming in. So I'm not sure if it's a supply problem or a problem of not enough refineries.

Sounds like a short term issue. This is why I love my pennies, copper may go down in the short term but it will always be needed for life. And with the current price I'm paying for copper, it CAN crash and it doesn't matter...because it's still worth a cent!

pennypicker wrote:

Crescendo wrote:Just not enough supply in existence.

I just read an article stating silver refiners are turning away customers because they simply can't process all the scrap silver coming in. So I'm not sure if it's a supply problem or a problem of not enough refineries.

Well there are always delays in processing silver, whether mining, manufacturing, scrapping, or whatever, so to speak. But I'm talking about the sheer quantity of contracts shorting silver out there. (as in the sold on the market contracts regarding shorting). If every single contract had to be fulfilled today, it does not seem physically possible to fulfill them if the buyers of the contracts demand physical delivery. A few of the bigger banks have been shorting silver for so long that if they can't drive the value of the dollar up, it'll be another downfall for the banks. Just speculating, but it seems pretty safe speculation.

The real issue is the dollar, not the commodities. Look at how much the dollar has lost in value since the beginning of this year. Artificially trying to drive the value up is a VERY temporary fix. IE: Probably a good time to buy silver as long as the dip is in place.