How much longer do we have?

[creshka46]

I just recently pulled my money out of my company's stocks because the stock was just flatlining for the past year and I figured it would be a lot more fun and more lucrative to put that money into silver and/or gold. So after all the processing and mailing I finally cashed the check on Monday and have about $500 to invest. Now I see the silver price shoot up over $2 in 2 days and it makes me hesitant to buy right now. I think I'd be more comfortable waiting till silver is in the mid 30's or at least till I see the price level off for a while.

This really leads me to the question: How much longer do we have? I mean, over the course of the next couple years I'm sure there will be some steep gains and some corrections, but if we're all looking at a historical chart 20 years from now, where do you think we would point and say "That was the last day that silver ever traded below $35"? 2012? 2020?

As a follow up question, do you guys think we'll ever see days again (however breif they may be) with silver at $25? Or $20, or 15$?

I'm interested in your thoughts.

[neilgin1]

As a follow up question, do you guys think we'll ever see days again (however breif they may be) with silver at $25? Or $20, or 15$?

I'm interested in your thoughts.

nope, this a bull market and in a bull market, you just have to be of the headspace:

"slash and burn, you get a return."

meaning if you and i are bidding on the same roll, i WILL get that roll, coz i will slash and burn....and friend, i say that without ANY rancor, or offensiveness, or mean-spiritedly...this is trading, you gotta be cold. in respect, quit thinking, start buying.

in the trading pits a while back, we used to have a giggle off an apocryphal tale....an old trader keels over in the pit with a heart attack.

"well what happened then?"

"whadya mean , 'what happened then'?, i stepped over him, and bid a quarter on 10, thats what happened then'.

ohhh, we used to just crack up at that...we were just sick puppies.

slash and burn, you get a return.

[theo]

Silver is volatile. It could do anything. However I really don't think it will get back below $30 in the near future. $35 is possible, but I wouldn't hold my breath. The good news for you is that they just increased the margin requirements, which should throw some cold water on the spot price over the next few weeks. . . we hope. The other factor to consider is that PMs usually do very well in the Fall. Remember last year? So you may want to have most of your money invested by September.

Good luck

[68Camaro]

Like they say above. I'm skeptical we're going to see much more time, if any, below $40. Maybe one more spell, if that, and I wouldn't count on that getting below $35 for long enough to matter.

With $500 I would look for good below-melt physical silver deals on ebay or here in the BIN section, trying to get below melt. Buy and don't look back.

I don't sell literal physical silver. The only silver I've been selling is the paper kind, and for that I'm just rotating through it churning up profits on the market volatility. That's NOT what you want to do with your $500. Get the physical. Only after you have enough stash should you start playing on the market.

But just a few minutes ago I took a gamble and did just sell all my silver-only paper silver (yet again, just bought this last bunch Monday at PSLV=18.4) at PSLV=19.43, and already have buy orders to try to buy back in again at 19.1 and 18.8 and 18.6 if I can catch a drop again. We'll see. One of these days I'm going to get caught out and have to buy back in at a higher price than I sold, but I've already got that covered in my profits to date.

[justoneguy]

$35 ?
Never Again.
I believe

[WizardTN]

Forsooth ...

Selling season for paper is NOW.
Buying season for physical starts in 2 weeks.

Thus sayeth the charts.

[Mossy]

I'd say "Buy what you can, when you can". Even if the price drops (and I bought a couple thousand worth around $45 an ounce), it is going to go wayyyyy up in the long run.

The question I see is "gold or silver?" With $500? That's silver.

Ahhhh, you do have food gathering and "food keeping" tools, right?

[Rosco]

I'd say "Buy what you can,

Ahhhh, you do have food gathering and "food keeping" tools, right?

Yes buy Silver go all in for the $500 JMTC .999 here or local Dealer

[argent_pur]

I'd say "Buy what you can, when you can". Even if the price drops (and I bought a couple thousand worth around $45 an ounce), it is going to go wayyyyy up in the long run.

The question I see is "gold or silver?" With $500? That's silver.

Ahhhh, you do have food gathering and "food keeping" tools, right?

Mossy's quite right, with 500 bucks, the white metal is the weapon of choice. Heck, I looked up and a full UK sovereign is over $400

[RichardPenny43]

.

[dan53]

Theo has it figured out.........."it could do anything". In 1979, gold soared from $200 an oz to over $800 an oz. It did this in one year. Shortly thereafter, it dropped back down to around $400. It wouldn't see $800 again for 20 years. Silver could have the same fluctuations. Nobody knows for sure.

[Sheikh_yer_Bu'Tay]

You are asking a question God only knows the answer to. But here are some clues as to where we are headed:

Our Congress just raised our level of borrowing over 100% GDP.

Our "on the books" National Debt is now over $16 TRILLION.

Our "off the books" unfunded liabilities are now over $100 TRILLION. (Depends on whose math you listen to)

Our money is nothing but fiat script.

Other countries are getting fed up with our flooding the world with our fiat script.

Other countries money is just like ours... useless fiat script.

They are flooding the world with their own fiat script.

Oil is becoming increasingly scarce, with more and more countries scrambling for the same oil.

Other raw materials are becoming increasingly scarce, with more and more countries scrambling for the same materials.

Our scramble for new energy reserves is permanently altering underground aquifers. That may sound okay, until it's your drinking water that is permanently contaminated.

Our societal morals are becoming immoral. Our government has been taken over by people who think it is cool to take what you busted your ass for and give it to someone else simply because they can vote. That government is now installing a police state to make sure you comply with all the new rules of them taking what you busted your ass for.

So what do you think?

Personally, I am trying to amass as much metals as possible. A little gold, silver, copper, brass, aluminum and lead. It will only go up in price when monetized in fiat money.

There will come a day when the price of metal, as denominated in fiat monies, will no longer matter. That gets back to your original question. I don't know when it will happen, but I don't think we have much time left.

[barrytrot]

I agree with Sheikh, get a few barrels of oil and you are set!

[neilgin1]

You are asking a question God only knows the answer to. But here are some clues as to where we are headed:

Our Congress just raised our level of borrowing over 100% GDP.

Our "on the books" National Debt is now over $16 TRILLION.

Our "off the books" unfunded liabilities are now over $100 TRILLION. (Depends on whose math you listen to)

Our money is nothing but fiat script.

Other countries are getting fed up with our flooding the world with our fiat script.

Other countries money is just like ours... useless fiat script.

They are flooding the world with their own fiat script.

Oil is becoming increasingly scarce, with more and more countries scrambling for the same oil.

Other raw materials are becoming increasingly scarce, with more and more countries scrambling for the same materials.

Our scramble for new energy reserves is permanently altering underground aquifers. That may sound okay, until it's your drinking water that is permanently contaminated.

Our societal morals are becoming immoral. Our government has been taken over by people who think it is cool to take what you busted your ass for and give it to someone else simply because they can vote. That government is now installing a police state to make sure you comply with all the new rules of them taking what you busted your ass for.

So what do you think?

Personally, I am trying to amass as much metals as possible. A little gold, silver, copper, brass, aluminum and lead. It will only go up in price when monetized in fiat money.

There will come a day when the price of metal, as denominated in fiat monies, will no longer matter. That gets back to your original question. I don't know when it will happen, but I don't think we have much time left.

Sheikh, that was one heck of a well written concise distilled assessment of where we're at today....i gotta just turn off the computer today...wrap myself in chores...you nailed me...in a healthy way. be blessed, O Bu Tay!

[IdahoCopper]

I agree with Sheikh, get a few barrels of oil and you are set!

I saw in a magazine that Jack Daniels sells full barrels of whiskey.... 240 bottles per barrel.

[68Camaro]

Theo has it figured out.........."it could do anything". In 1979, gold soared from $200 an oz to over $800 an oz. It did this in one year. Shortly thereafter, it dropped back down to around $400. It wouldn't see $800 again for 20 years. Silver could have the same fluctuations. Nobody knows for sure.

That's why I'm now encouraging you to sell me all your halves at spot... (I don't want you to have to worry about it dropping.)

[Know Common Cents]

Silver again at $30/oz? Oh sure. It'll be brought back to market by a dinosaur, dodo bird and everything else that's gone extinct in the last century. Go all-in with your available funds. If you need a Jack Daniels persuader or two, so be it.

[Tourney64]

Sheikh_yer_Bu'Tay is right on target.
What brought silver down the last time was implementing margin restrictions 3 times in a short period of time. I heard that there were additional margin changes on silver this week. Silver hasn't gone down.

Prepare by converting your fiat $$$ into hard assets. Buy enough food for you and your neighbors as we are headed towards a global food shortage, or currency crisis which will significantly impact food prices. Obtain gold and silver. Have large supplies of water. Have a way to protect your family, from those who haven't prepared. Buy seeds, knives, and medical supplies. Be discreet about what you have.

[Mossy]

Silver again at $30/oz?

"Old dollar" or "New dollar"?

[Mossy]

Sheikh, well distilled.

Left off the increasing regulation killing industries, not just the confiscatory regs, laws, and taxes.

[Treetop]

Silver again at $30/oz?

"Old dollar" or "New dollar"?

you beat me to it... i was going to say something like we will have 30 silver when its value in at 3000 oz in USD, and the feds take two zeros off all the bills, like many nations eventually seems to do on our current track....