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View Full Version : Who would believe we could close over $30 in one day!!



valerb
6th December 2010, 16:54
Well it happened, we closed at $30.08 and from our end it appeared to be just another walk in the park. It may have been hell on the trading floors, but no wild swings. It just seemed too easy. Only $19.92 more and I can finally sell some Silver, if that day ever comes. Fingers crossed and keeping the faith.

Burticus
6th December 2010, 17:12
Another historic moment, as papersilver tops 30 FeRNs for the first time since 1980! I figgered I needed to pile on by posting something. Of course, REAL physical silver coins have cost over 30 FeRNs for a while already.

Val, you may never "sell" your real silver, meaning convert it to a paper or electron currency. When silver's value in buying power (measured in other currencies or property) goes to the ultimate blowoff top, you swap it for undervalued stocks or real estate. Converting to 50 FeRNs will miss most of one of the greatest bull runs in history. Depending on the events of that day, you may be clutching your silver even more tightly or buying more.

Nein mit ze sellinzee!

main1event
6th December 2010, 18:35
Val,

That day is going to come but why sell at $50.00 ? When it finally gets to $50.00 there will be no more overhead resistance. Look at Gold is has almost doubled since making its all time high. Sell your silver when its 15:1 with Gold or close. Silver is at least going to $100.00 this time around. I"m not sure about the $500.00 price unless the dollar collapses but I'm fairly confident about $100.00.

S1lverBullet
6th December 2010, 18:47
Just saw tax cuts got extended for everyone. Anyone think this will have a dip effect on the PMs?

SilverReaper
6th December 2010, 19:07
Looking at your earlier threads you said the thing about $30, the point is no one knows what the fair market value of silver will be if truly left to fair market practices. I think that even if there is settling, $30 will be considered a bargain shortly into 2011.

LongJohnSlvr
6th December 2010, 19:08
Silver has had a very good run lately, but a hundred ? Dream on. You can go unchallenged with such permabull nonsense at *** but NOT HERE. repeat, NOT HERE , buddy !


Still sore about being tossed off *** within an hour of making your first post there Duneyrider?

valerb
6th December 2010, 20:15
Another historic moment, as papersilver tops 30 FeRNs for the first time since 1980! I figgered I needed to pile on by posting something. Of course, REAL physical silver coins have cost over 30 FeRNs for a while already.

Val, you may never "sell" your real silver, meaning convert it to a paper or electron currency. When silver's value in buying power (measured in other currencies or property) goes to the ultimate blowoff top, you swap it for undervalued stocks or real estate. Converting to 50 FeRNs will miss most of one of the greatest bull runs in history. Depending on the events of that day, you may be clutching your silver even more tightly or buying more.

Nein mit ze sellinzee!


Nein mit ze sellinzee!

I have to admit my German isn't that good, but that looks more like something spoken from a Russian immigrant to Berlin and a recent transplant at that. Or is that something you picked up in the GI Jungle in Downtown Stuttgart? That's not an insult, I'm chuckling.

I didn't mean to imply that I was selling all my Silver at $50, just 2,000 ounces. Then I will see how the market in advancing as to when I'll start selling additional Silver. The FRN's from the $50 sale are already planned for, as will the FRN's from additional sales after that. I do not intend to ever sell all of my Silver, as one should always have a backup for everything.

How do you know what the blow off will be? $50, $100, $300, $1,500 or even $5,000, no one knows what that top will be until we have dropped off the other side. That's when people will start kicking themselves in the ass for not selling when they had the chance. Some people will still be buying when Silver is just about ready to roll over and head south, but they won't know about it, because all they will hear it that Silver is a can't miss buy, don't' get left out in the cold.

"Almost" everyone is dead certain that the Dollar is toast and Silver is going to the moon. Just like 99% of everyone thought back in 2007 that if we ever had a major financial disaster, Gold and Silver would take off to the moon. Well we had an even more disastrous financial disaster than anyone envisioned and Gold and Silver didn't take off as they were supposed to, they tanked, especially Silver. But NOOOOOO, it can't happen again. Bullshit, anything can happen!!

As far as the US Dollar is concerned, I don't share your opinion as to it's being worthless. Not that I have complete confidence in it either. I do have other currencies as well. I do not share the concept that all currencies will become toast, at least not all at the same time.

Everyone is 100% certain that their Silver is there's to keep and that the Government will never confiscate it or worse yet, confiscate it and give us something like $5 an ounce. What about the possibility that the world governments will join together and set a fixed rate for Silver at $10 an ounce and Gold and $150 an ounce. Who is going to stop them, the vast majority of the worlds population wouldn't give two shits about it, they don't own any Gold or Silver. Just because we don't expect something to take place doesn't mean it won't. Everyone knows or assumes the Governments of the world want the value of Gold especially to be of lower value, as it makes their currency worth more, so the concept goes. So knowing or believing that the government doesn't want you driving up the price of Gold and Silver, why would anyone put all their eggs in that one basket, knowing the government might very well ruin their life savings?

I'm not anti-Silver by any means, I just don't believe in investing everything in Silver.

SilverHawk
6th December 2010, 21:24
Well it happened, we closed at $30.08 and from our end it appeared to be just another walk in the park. It may have been hell on the trading floors, but no wild swings. It just seemed too easy. Only $19.92 more and I can finally sell some Silver, if that day ever comes. Fingers crossed and keeping the faith.

Sell some? Why? What for? $100 isn't too far away.


Remember the chart from 1979-1980. We haven't EVEN hit Climb Time. Still a way from the first summit.
I still say the WEBBOT's prediction of $5 day moves will come.

Dennis Gartman was on Fast Money tonight. What an idiot. Hates silver, likes gold. He knocks silver and says it's in a bubble. Gold is almost twice it's all time high, silver a little over half it's all time high. Gartman is HIGH.

$30.20 right now

main1event
6th December 2010, 21:40
The official price for Gold is still $35.00 an ounce set by the government. The government cant control anything, they can manipulate things for a time but that creates shortages. In a real free market that doesnt happen. Silver is now going back to its long historical ratio and perhaps higher to offset the shortages.

valerb
6th December 2010, 23:53
Sell some? Why? What for? $100 isn't too far away.


Remember the chart from 1979-1980. We haven't EVEN hit Climb Time. Still a way from the first summit.
I still say the WEBBOT's prediction of $5 day moves will come.

Dennis Gartman was on Fast Money tonight. What an idiot. Hates silver, likes gold. He knocks silver and says it's in a bubble. Gold is almost twice it's all time high, silver a little over half it's all time high. Gartman is HIGH.

$30.20 right now

Because I don't know that Silver will ever reach $100 let alone $50. If I sold 2,000 ounces right now it would be for a 570% profit and at $50 it would be for a 1,011% profit. Selling 2,000 is only a fraction of my Silver and yet that $100,000 would be far more than I ever invested in Silver. Taking profits is a wise investment decision. Some take profits after only 20% or more. Being greedy is how you end up losing and like many investors on this forum I've been waiting a very long time to cash in. I think I'm actually being greedy by not selling Silver at this time, but I've gambled this long, so I'm going to let it ride awhile longer. While many have tried to play the buy and sell game with differing results, I have been strictly a buy and hold person. Everyone needs an exit strategy and I have mine, at least phase 1. Now I just have to wait and hope it reaches my first sell point.

I think the greatest shock to most investors will be the price they are offered in a run away market. Dealers are afraid to pay the spot price let along more than spot today. Wait until we have $5 - $10 up and down day's. Dealers will be scared to death to buy anything anywhere near the spot price, not knowing when we are going to reach the peak or what the spot price will be in an hour let alone the next day. It won't matter how many people want to buy Silver, it will still be based on the spot price. The premiums may go through the roof if we run into a retail shortage, but they will still be based on the spot price. It's a gamble on my part, but I converted all of my bars into 1 ounce rounds, primarily NWTM rounds and 1,500 ASE's. I didn't want to loose out on ASE's going crazy, so I picked some of them up. My hope is that NWTM continues to follow their buy back offer, of all their products at the current spot price during the upswing. If they do, then I won't have to take a beating from other dealers and I won't be on the phone calling all over the place trying to find the best deal. I did that in October and November, it wasn't fun and the market was barely moving. So while many of you were spending thousands of dollars adding inventory over the last couple months. I was spending thousands of dollars converting mine and didn't add a single ounce. But if I'm right, selling my Silver will only cost me $1 per ounce now instead of possibly several dollars an ounce later and I won't have to worry about where to sell my Silver. NWTM is not the only one that offers a buy back price at spot, there are others. They just happened to be the one I picked back in the 90's when they had the cheapest prices for Silver rounds. Some of the on-line dealers make that same offer if you buy products with their name stamped on them. I just don't know if they will be as reliable as an actual mint. During the last retail shortage, the mints were the only ones selling for the most part as they really cut back making Silver products for other dealers.

Since Main1event has been on this thread, I'm going to answer his questions in advance. No I do not, nor have I ever worked for NWTM. My reasoning for selecting NWTM again is simply one of consistency. NWTM has always kept their products moving no matter how low or how high the spot price went. They kept the same premium, when others were gouging everyone for $3 to $5 an ounce, they were still under $1. I'm not fond of some of the things they started doing in late 2008, but they only started doing what all of the other dealer were already doing. As a result of what they were doing I killed one of the most read threads ever on the Silver and Bullion Coins folder. Apparently that is a no no, as Chris Mullen took away my ability to ever kill a thread or delete a message. That will be two years ago on December 31st. He holds a grudge, even if you didn't know that was a no no. I'm not the only one that found out the hard way and he doesn't give you a second chance. Keep that in mind!!

Cup-of-Ruin
7th December 2010, 00:08
1661

1660

1659

Click on images.

JP Morgan caught with it's pants down round it's ankles.

valerb
7th December 2010, 00:19
Did you make those Cup?

That's pretty good work who ever did.

tom1000000
7th December 2010, 04:51
Silver has had a very good run lately, but a hundred ? Dream on.

roger the dumbass.

roger u need to get this into your thick skull - FIAT CURRENCY ALWAYS RETURNS TO ITS INHERENT VALUE: ZERO.

Consequently, it is 100% guaranteed that one day silver will sell for more than USD$100.

The questions is not if, but WHEN.

tom1000000
7th December 2010, 04:58
Taking profits is a wise investment decision. Some take profits after only 20% or more. Being greedy is how you end up losing and like many investors on this forum I've been waiting a very long time to cash in.

One simple question: When you sell your silver, what will you do with the profit?

Reinvest it? Reinvest in WHAT? Shares *rofl* Bonds *rofl* Cash *rofl* Real estate *rofl*

Are you going to declare your capital gains or hope the IRS doesn't notice?

Au812
7th December 2010, 06:00
The official price for Gold is still $35.00 an ounce set by the government. The government cant control anything, they can manipulate things for a time but that creates shortages. In a real free market that doesnt happen. Silver is now going back to its long historical ratio and perhaps higher to offset the shortages.

Actually, I believe the last time I looked at the US Treasury's book, gold was valued slightly over $42/oz.

S1lverBullet
7th December 2010, 07:51
One simple question: When you sell your silver, what will you do with the profit?

Reinvest it? Reinvest in WHAT? Shares *rofl* Bonds *rofl* Cash *rofl* Real estate *rofl*

Are you going to declare your capital gains or hope the IRS doesn't notice?

Buy up real estate as fast a you can and then wait for us to climb out of this hole (in about 10-20 years), then sell it for 10 times the value. Remember that real estate still has a long ways to fall while PMs also have a long way up. I'm thinking one day I am going to be able to trade 50 ounces of silver for a home straight up.

valerb
7th December 2010, 08:21
One simple question: When you sell your silver, what will you do with the profit?

Reinvest it? Reinvest in WHAT? Shares *rofl* Bonds *rofl* Cash *rofl* Real estate *rofl*

Are you going to declare your capital gains or hope the IRS doesn't notice?

I have a number of projects around the house I'll use that money for, so it won't be reinvested.

Yes I will be paying capital gains of those profits, I won't be going to jail and I won't have to run all over the place trying to sell 2,000 ounces a few at a time.

It's one thing to be a small time investor and unload your Silver under the table because you don't have that much, but when your selling at least 1,000 ounces or more, it's rater difficult, not to mention jail time if you get caught.

Are you suggesting people go into income tax evasion, to try a keep more of their gains. Isn't that one of the things we hate about the wealthiest people in this country. Is it OK to now turn into one of them?

A felony is a felony, no matter what your income level or logic. Do you pay your income taxes and believe you can hide the profits from the sale of Silver? Good luck if you do.

People are always thinking they are smarter than the law and our prisons are full of them.

valerb
7th December 2010, 08:36
Buy up real estate as fast a you can and then wait for us to climb out of this hole (in about 10-20 years), then sell it for 10 times the value. Remember that real estate still has a long ways to fall while PMs also have a long way up. I'm thinking one day I am going to be able to trade 50 ounces of silver for a home straight up.

50 ounces may be a bit low, but I'm thinking along the same lines and buying up half the neighborhood. You seem to be thinking along the lines of houses falling to $50,000 and Silver climbing to $1,000 an ounce. If that happens, then I buy the entire sub division.

Twenty houses for a mere 1,000 ounces or put another way. Twenty house for a small $4,500 investment. That's $225 of investment per house. Insanity or the deal of a life time?

Don't forget about all the revenue generated, while waiting a decade or two before selling.

maplesilverbug
7th December 2010, 09:04
People are always thinking they are smarter than the law and our prisons are full of them.

Uh...no.
Your prisons are full of people who got caught smoking pot.

valerb
7th December 2010, 09:10
That's selling pot and a lot of other drugs. You normally don't go to prison for being a user, unless you get caught with too much in your possession.

maplesilverbug
7th December 2010, 09:17
http://bjs.ojp.usdoj.gov/content/glance/fedtyp.gif
("public" = weapon offenses)

That War on Drugs isn't really taking, is it?

We'll see in another 20 years how the current War on Terror pans out.

:)


http://bjs.ojp.usdoj.gov/content/glance/theft.gif

I wonder if this will be edited to include every household that the bankers and government stole from?

valerb
7th December 2010, 09:35
http://bjs.ojp.usdoj.gov/content/glance/fedtyp.gif
("public" = weapon offenses)

That War on Drugs isn't really taking, is it?

We'll see in another 20 years how the current War on Terror pans out.

:)


http://bjs.ojp.usdoj.gov/content/glance/theft.gif

I wonder if this will be edited to include every household that the bankers and government stole from?

I've been for legalizing drugs for many year. I'm not a user and never have been. Why spend hundreds of billions each year trying to fight drugs and the crime that goes with it, when we can simply legalize it and sell it cheap. Take the dugs pushers off the street or put them back into school so they can learn how to read, write, speak the English language and hopefully be able to hold down an actual job. What would legalizing drugs do to the crime in Mexico and drug trafficking all around the world. We should also legalize prostitution, take it off the streets and clean it up as in Nevada. Well maybe not Vegas, but most of the rest of the state.

ThaP8riot
7th December 2010, 11:08
I am sure the folks at *** are partying pretty hard now. Are you getting bored with them ? Is that why you seek out our company ?

Roger......our company? Hahaha. You're on your own dill rod.