View Full Version : Need Gold & Silver, Call Me back

Willie Hunter
15th July 2011, 18:02
A good friend called me this afternoon and wanted to buy 3 ounces of gold @ 2 % over spot. I chuckled and said I would sell 10 ounces at 3 % over spot and he bit. He also wanted some ASE’s so I sold him 100 ounces @ $42.00. Now this guy is a good friend, did I do him right? I think he got a very good deal and I was happy with what I got.

What is Truth?
15th July 2011, 20:21
If you are both happy then what difference does it make what we think? But that's a lot of PMs for you to be dumping right now, IMO.

17th July 2011, 00:06
Call me...fiat Bob for now. Down to 3 oz of silver
Maybe Bob reconsidered?

18th July 2011, 07:44
More of a hedge here. I can totally see silver going up and doing 20-1. What seems so interesting about 2011 is every month the fundamentals behind the economy seem to change. I am going with a small silver in for 2 reasons.

If gold goes up and the ratio hits 20-1 like 1980...we could triple our money.

If it does not I figure 10 oz is what I am comfortable with for this reason

a-100 dollar silver would net me 590 profit (41 in) got 7 @40 1@ 34 and 2 @50

b-20 dollar silver....buy 40 for 800 or have 50 for 1210 or an in of 24.25 each.

That is how I can manage the down and reap on the up. So I can profit on a dip to 20 and a bump to 30 in any amount of time. I can also profit if it goes up. Which is easiest.

18th July 2011, 07:57
Fundamental changes in 2011

January-April 30 --Silver goes up on QE fears and the fact that all commodities are rising at that point

Late April---Transitory Inflation BB, Whacked with margins....

May-July7--most people talking deal in europe....End of QE, Fed buy back...deflationary fears.

July----No budget...downgrade? default? QE, Italy and Greece...more war talk.

July Ben Bernanke tells Ron Paul that Gold is NOT money
We all read it how we want but I am firmly in the camp that you only profit when the fiat hits your palm. Or the gold if you are swapping silver, or the silver if your swapping gold.

Right now I would say metals up but as I said before they already messed with silver.... I think they will mess with gold this time.

I am predicting that gold creeps up or takes a quick dip on a margin call squeezing the gold silver ratio. I only bought 10 right now but would swap for 1/2 oz of gold if given the opportunity or pick up cash at that point.