Nosedive??

[Roonbox]

what the hell is going on in silver

[Damonte]

JP Morgan-Chase announced a 2.1 billion dollar profit for 2009 Q1. That makes everyone feel warm and fuzzy inside that things are getting better. So the reaction is to dump their save-haven PM ETFs and possibly some of their safe-haven PM physicals.

[Steadfast]

Of course J P did well, :rolleyes:

They are the biggest "naked short sellers" of silver in the world today.

Duuuuh...

Better chunk those "short term" glasses and buy some long term vision...
Looks like its Time to buy some more silver... :)

Yup, that's right, I just bought more...

[harley1]

very simple.....silver was up for the first monday this week for quite sometime,so now we take it in the ass the rest of the week

[What is Truth?]

what the hell is going on in silver

The charts are showing a frying pan handle is forming. Don't worry and by the way, how do you like your eggs?

[pmstacker]

Frying pans, cup handles, cupid in a pear tree. How many friggin useless patterns can we find in the charts? Its obvious these formations mean little to nothing. Its like looking at cloud shapes and trying to forecast next weeks weather :rolleyes:

[mark2112gum]

Frying pans, cup handles, cupid in a pear tree. How many friggin useless patterns can we find in the charts? Its obvious these formations mean little to nothing. Its like looking at cloud shapes and trying to forecast next weeks weather :rolleyes:
Well said!!!! for a long time I've been listening to different people talking about the V, frying pan, W, etc. It's all a load of crap, that is until something happens that make a big move up or down. Then these 'patter people' can say 'see, the shapes don't lie.

Like, it might rain or snow or hail tomorrow, or it might not!

-----Some amateurs have a need to think that there sounding like pro's.-----

[duneyman]

Well said!!!! for a long time I've been listening to different people talking about the V, frying pan, W, etc. It's all a load of crap, that is until something happens that make a big move up or down. Then these 'patter people' can say 'see, the shapes don't lie.

Like, it might rain or snow or hail tomorrow, or it might not!

-----Some amateurs have a need to think that there sounding like pro's.-----


I agree completely. Main Event and Katwoman can talk all they want about this TA stuff but it doesn't fool me anymore.

[duneyman]

what the hell is going on in silver



This is so typical of the silver market. It could easily go down to below ten by summertime.

[cugir321]

I just spent about 2 hours switching over to a new bank...I think it's the only solid bank in all of the palm beach area. Heard some interesting things. He said the fed is trying to force feed tarp on everyone including the solid banks. These guys will break even this year and the fed is trying to force feed them 10m. He says they want to nationalize the whole club. If you tell them you don't want it then they'll find a reason to give you crap. A few bad loans and they're all over you. Every bank has some. This pretty much verifies what William Black said in the Bill Moyer interview.

He said the whole economy is so manipulated now that no one knows what's going on. Actually said, it's always been that way....a sober fact that's really sinking in. He's very worried about the monetization. I thought it was funny how he talked about not having cash. I asked then why am I opening an account? He didn't like gold and silver even though he has some....I'm not surprised he said that.

I was very surprised they had a seven day clause in the new account rules. Never saw that before. It says: We reserve the right to at any time require not less than 7 days notice in writing before any withdraw from an interest bearing account. Why do you think they'd insert that clause?

The Fed wants ultimate control.....I really believe it's what we're seeing in the PM market. They're afraid they could lose it. This is were I believe in silver as protection. I don't think we should have everything in silver....diversify. Real estate, food, hard assets.....funny, he said if you really want protection....guns and ammo! LOL!!! He didn't realise my nice deposit was the result of just that business.

This whole thing is depressing. I didn't serve my country for Goldman Sacks. They're running our country and they're mobsters.

I'm not worried about silver....it can go where it goes.....I'm worried about freedom.

[What is Truth?]

Frying pans, cup handles, cupid in a pear tree. How many friggin useless patterns can we find in the charts? Its obvious these formations mean little to nothing. Its like looking at cloud shapes and trying to forecast next weeks weather :rolleyes:

The public needs to forget about PMs for a while (the summer will do) then in the fall someone will jump in and buy big. That will get the public's attention back. PMs will be the hot topic and the price will rise again. I hope they flood the televions with buy gold now ads then. If we don't get too greedy or start to buy the doom and gloom again then we will be set up to take some dandy profits home. Then when PMs crash again (and they will) we get back in again and buy all over again. It's time for us to be the fat men with the big cigars and let others pay our bills for a change. Sorry if I offend anyone's dreams of doom and gloom, but that's the way I see it now. And is making some profits really such a bad thing?

[theo68]

I just spent about 2 hours switching over to a new bank...I think it's the only solid bank in all of the palm beach area. Heard some interesting things. He said the fed is trying to force feed tarp on everyone including the solid banks. These guys will break even this year and the fed is trying to force feed them 10m. He says they want to nationalize the whole club. If you tell them you don't want it then they'll find a reason to give you crap. A few bad loans and they're all over you. Every bank has some. This pretty much verifies what William Black said in the Bill Moyer interview.

He said the whole economy is so manipulated now that no one knows what's going on. Actually said, it's always been that way....a sober fact that's really sinking in. He's very worried about the monetization. I thought it was funny how he talked about not having cash. I asked then why am I opening an account? He didn't like gold and silver even though he has some....I'm not surprised he said that.

I was very surprised they had a seven day clause in the new account rules. Never saw that before. It says: We reserve the right to at any time require not less than 7 days notice in writing before any withdraw from an interest bearing account. Why do you think they'd insert that clause?

The Fed wants ultimate control.....I really believe it's what we're seeing in the PM market. They're afraid they could lose it. This is were I believe in silver as protection. I don't think we should have everything in silver....diversify. Real estate, food, hard assets.....funny, he said if you really want protection....guns and ammo! LOL!!! He didn't realise my nice deposit was the result of just that business.

This whole thing is depressing. I didn't serve my country for Goldman Sacks. They're running our country and they're mobsters.

I'm not worried about silver....it can go where it goes.....I'm worried about freedom.

Well put. And to Dune's comment; I'd love to see silver dip below $10, but it has to break the resistance at $12 first. Honestly, short term gyrations do not worry me as I'm an investor not a trader. In three years people will wish they got in at these prices; just as I wish I had gotten in at $5.

[ricm123]

The public needs to forget about PMs for a while (the summer will do) then in the fall someone will jump in and buy big. That will get the public's attention back. PMs will be the hot topic and the price will rise again. I hope they flood the televisions with buy gold now ads then. If we don't get too greedy or start to buy the doom and gloom again then we will be set up to take some dandy profits home. Then when PMs crash again (and they will) we get back in again and buy all over again. It's time for us to be the fat men with the big cigars and let others pay our bills for a change. Sorry if I offend anyone's dreams of doom and gloom, but that's the way I see it now. And is making some profits really such a bad thing?

Ever notice that the more ads seem to be on TV & radio, the worse PM's do?

Seems like the sellers know their products are heading south & want out ASAP.

Usually, when the ads go away, then PM's begin to rise back again.

At or near temporary peaks the ads come back....

Best time to buy is usually when it's hardest to fund for sale.

[AgCarp]

.....Heard some interesting things. He said the fed is trying to force feed tarp on everyone including the solid banks......

I recently heard that also. My sister works at a healthy bank, which is still turning a profit, and said the government was trying to make them take the TARP money.
The board said, "No way! Were not taking a dime."
So I'm going to switch my accounts to them.

[What is Truth?]

Ever notice that the more ads seem to be on TV & radio, the worse PM's do?

Seems like the sellers know their products are heading south & want out ASAP.

Usually, when the ads go away, then PM's begin to rise back again.

At or near temporary peaks the ads come back....



I think you are on to something there. On second thought you're correct. It's great to hold a discussion with someone like you. There should be other things that we ought to look out for.

I was channel surfing this morning when I saw on QVC a man trying to push a 10 ounce silver bar for $250.00. ;) Now some here may say that's proof that silver is worth more than spot. I on the other hand would say that's proof that there really is money to be made in silver if you know what you are doing.

[mark2112gum]

This is so typical of the silver market. It could easily go down to below ten by summertime.
Just spend what your comfortable with, buy silver bars or rounds and wait. The day will come that it's worth a lot more then it is right now! Until such time, join CUGIR in waving the flag as she fights the injustice of the 'evil over governed banking system'. By the way is it not a problem that started in the US?, (Sub prime loans, over spending, credit crises). And yes, the rest of the world is in trouble too, yet this is because every other country jumped on to the 'free money train' of sub prime and investing in the US.

Iceland, many months ago went bankrupt. And the US didn't have to fire a shot.

[cugir321]

This loan officer I talked to is pretty sharp....he's got his doctorate in finance. I've never talked to a bank guy that was as upset at the way things were going, especially in relationship to his bank....he certainly feels it's going socialist. He did say that the fed just will not cry mother....they refuse to default anything, or let anything fail. This is why he was concerned with inflation. He did say a lot of the bank money isn't going to get into circulation as soon as we think. The fed is micro-managing. The banks are pissed....they aren't going to loan like they should with a gun to their head. I thought it was interesting that he said China was not going to stop buying t-bills. They're still buying! I said yes, but their not buying the same kinds....long term. He didn't argue that one.

[What is Truth?]

You know, for change I think most, if not all of us, are on the same page tonight that dispite today's drop in silver the long term future for silver looks bright. We may not agree on the same reasons though. I too wouldn't doubt that we will see $10 silver this summer. Like all of you, I could dump it now and take a big loss now but that is what the fat men with the big cigars want us to do. No sir, I'm holding those chucks of metals for the day when it rebounds big and then sell it.

[LoboNoches]

You know, for change I think most, if not all of us, are on the same page tonight that dispite today's drop in silver the long term future for silver looks bright. We may not agree on the same reasons though. I too wouldn't doubt that we will see $10 silver this summer. Like all of you, I could dump it now and take a big loss now but that is what the fat men with the big cigars want us to do. No sir, I'm holding those chucks of metals for the day when it rebounds big and then sell it.

I hope your right I got late in the game so I guess I'm luckier than some and not as lucky as the ones that got in around 8 or lower but I'm looking for the opportunity to stock up a bit where i can afford

[Katwoman]

You guys are all over reacting to a correction that three months from now will look like nothing on the chart. I have said it before and I will say it again as long at it stays in the 12s its still within consolidation range for the handle and since the fundamentals have not changed at some point it has to breakout. Check my posts when it recently ran up you will note I did not get too exited about that either.

You have to remember spot silver reflects futures for industrial and retail demand much more closely than it does investor demand. Since we had a nice little run up and there was a fair amount of bad news today indicating the recession will likely last well into summer this correction is not surprising. There is still plenty of support at 12. The chart pattern is unique for silver and gold and consistent with the fundamentals.

Relax.

[cugir321]

I really don't care about the price of silver now. I'm more worried about the banks. Silver is going to go up....there's no doubt, when, we don't know. They're hiding everything....the trust factor is tearing me a new gut hole. I own silver because I don't trust them. It's a lot harder to take a rock from my house. I don't think it's going much lower....it may spike down but I believe it will stay around 12.00...the trust factor won't let it fall far. Ask yourself, do I trust the fed? We are all answering the same way. The problem is, if you guess wrong, play the system, and it fails, you lose if it crashes. You can lose everything if your company can't get capital and or can't generate sales. If you guess wrong and still have your pm's, then you still have your pm's for another day.

The guys running the show are amoral. They will lie to us and ask to hold our babies.

If I were to define in one word, this whole mess, it would be trust. If it's not there, it can't get better. They can create an illusion but if we don't buy it then the gig fails.

The more I think about the tarp and the stress test's, the more I believe the fed is trying to strong arm the banks into taking the money so they can make them lend. Even the strong banks. If they don't take the money then they will make them suffer. They won't be able to make them lend. And they won't! No bank is going to lend money they think they may need to stay alive. No bank is going to lend to companies that don't have buyers. We're not buying! The fed knows they have to get lending back on track or this whole thing won't have a prayer. It will take a war.



You guys are all over reacting to a correction that three months from now will look like nothing on the chart. I have said it before and I will say it again as long at it stays in the 12s its still within consolidation range for the handle and since the fundamentals have not changed at some point it has to breakout. Check my posts when it recently ran up you will note I did not get too exited about that either.

You have to remember spot silver reflects futures for industrial and retail demand much more closely than it does investor demand. Since we had a nice little run up and there was a fair amount of bad news today indicating the recession will likely last well into summer this correction is not surprising. There is still plenty of support at 12. The chart pattern is unique for silver and gold and consistent with the fundamentals.

Relax.

[Katwoman]

I am not so sure about all their motivations but I know the banks do not like mark to market and did not want to comply with it from the get go. The fact that it has just now been suspended is not lost on me. They are getting what they want and anyone who does business with them will continue to get robbed. Use cash to pay your bills and invest what you have left over in PMs.

An ounce of silver especially if it is in the form of an older US silver dollar willl never go bankrupt.

[valerb@bellsouth.net]

An ounce of silver especially if it is in the form of an older US silver dollar willl never go bankrupt.

Kat, how is 90% silver any more safe than .999 Silver?

Other than stock piling for a SHTF scenario, 90% is a bad buy in today's market. At least if your paying these ridiculous premiums of $2.50 or more per ounce. 90% silver should always sell for at least $.50 or more less than you can buy generic silver. When Silver finally takes off, it will become a buyers market and all Silver will be discounted and none more heavily than 90%, except 40%. I'm sorry, I forgot about Silver Shot. That's just the way the PM market works. Nothing in history to indicate anything different.

[mountainmurph]

Kat, how is 90% silver any more safe than .999 Silver?

Other than stock piling for a SHTF scenario, 90% is a bad buy in today's market. At least if your paying these ridiculous premiums of $2.50 or more per ounce. 90% silver should always sell for at least $.50 or more less than you can buy generic silver. When Silver finally takes off, it will become a buyers market and all Silver will be discounted and none more heavily than 90%, except 40%. I'm sorry, I forgot about Silver Shot. That's just the way the PM market works. Nothing in history to indicate anything different.



While most people have never heard of or seen a silver round, 90% is recognizable to them. Generics especially may not be trusted. Silver dollars, halves, quarters and dimes say United States Of America and their value on them. Dimes and quarters have changed very little in most peoples lives [ quarters same obverse since 1932, dimes the same since 1946 ]. So, with 90% you won't have to take them anywhere to cash them in as you might bars or rounds.

[maplesilverbug]

I am not so sure about all their motivations but I know the banks do not like mark to market and did not want to comply with it from the get go. The fact that it has just now been suspended is not lost on me. They are getting what they want and anyone who does business with them will continue to get robbed. Use cash to pay your bills and invest what you have left over in PMs.

An ounce of silver especially if it is in the form of an older US silver dollar willl never go bankrupt.

If there is one thing we agree on, it's the outright (and shrouded) falsehood of bank accounting practices. Those people truly are vile and malevolent. The power of Greed...

As for .999 vs. 90%, I'll stick with using Maples (in Canada) and their $5 face value of legal tender. But really, who knows what will work and when.

[SeekrBrnEvryMin]

[QUOTE=cugir321;56883]
I was very surprised they had a seven day clause in the new account rules. Never saw that before. It says: We reserve the right to at any time require not less than 7 days notice in writing before any withdraw from an interest bearing account. Why do you think they'd insert that clause?QUOTE]


No LESS than 7 days? In other words, 1 week or MORE with no limit? Are you sure?

[Katwoman]

The stock markets are down as the lie of mark to market suspension has been figured out and so the futures for industrial demand for silver are in the tank. The good news is this will induce a move back to silver for safety but the effect this will have on spot is always more insidious and so the run up will not shoot up the way it does when industrial investors get into it. I would expect this to lead to more evidence of backwardization on short order too.

The confidence game is being lost by the USD which is now at 85 and there is no hope in sight of an immediate turn around in our economy before summer. Leaving your FRNs in the bank or stock market while going to the beach could be very risky and this will drive people to the safety of PMs before summer.

[duneyman]

The stock markets are down as the lie of mark to market suspension has been figured out and so the futures for industrial demand for silver are in the tank. The good news is this will induce a move back to silver for safety but the effect this will have on spot is always more insidious and so the run up will not shoot up the way it does when industrial investors get into it. I would expect this to lead to more evidence of backwardization on short order too.

The confidence game is being lost by the USD which is now at 85 and there is no hope in sight of an immediate turn around in our economy before summer. Leaving your FRNs in the bank or stock market while going to the beach could be very risky and this will drive people to the safety of PMs before summer.


Wasn't silver supposed to be well on its way to seventeen by now ?

[LoboNoches]

Wasn't silver supposed to be well on its way to seventeen by now ?

Don't even go there cause your gold hasn't faired any better in fact within the year I believe gold rose from around 700 an oz to a thousand and silver from 9 an oz to 21.Ill take a 120% increase over 40% any day of the week

[valerb@bellsouth.net]

While most people have never heard of or seen a silver round, 90% is recognizable to them. Generics especially may not be trusted. Silver dollars, halves, quarters and dimes say United States Of America and their value on them. Dimes and quarters have changed very little in most peoples lives [ quarters same obverse since 1932, dimes the same since 1946 ]. So, with 90% you won't have to take them anywhere to cash them in as you might bars or rounds.

Your just talking about a SHTF scenario, which is one thing. However investing all of your money in 90% and paying higher premiums is a bit radical. We all know there is a possibility of the SHTF, but it's more likely not to happen opposed to it actually occurring. I'm talking about the dollar becoming worthless and us having no money to buy anything with.

Even if we do find ourselves in a Mad Max situation. The government is going to come out with some form of currency. The people can't survive on 90% silver coins or silver and gold bullion. Too few people have any. So, I can't see anything like this going on for more than a few days to a couple of weeks at most. Now if we were hit by a "comet", that might be a different story

[duneyman]

Don't even go there cause your gold hasn't faired any better in fact within the year I believe gold rose from around 700 an oz to a thousand and silver from 9 an oz to 21.Ill take a 120% increase over 40% any day of the week


You are getting your numbers reversed. Silver fell from 21 to 9 while gold only fell from 1,000 to 700.

[LoboNoches]

You are getting your numbers reversed. Silver fell from 21 to 9 while gold only fell from 1,000 to 700.

http://www.kitco.com/LFgif/ag00-pres.gif

That looks like a hell of a #$%^ increase from 2000-2008 for silver

http://www.kitco.com/LFgif/au2006.gif

http://www.kitco.com/LFgif/au2007.gifhttp://www.kitco.com/LFgif/au2008.gif


Not so much increase for gold

[mountainmurph]

Your just talking about a SHTF scenario, which is one thing. However investing all of your money in 90% and paying higher premiums is a bit radical. We all know there is a possibility of the SHTF, but it's more likely not to happen opposed to it actually occurring. I'm talking about the dollar becoming worthless and us having no money to buy anything with.

Even if we do find ourselves in a Mad Max situation. The government is going to come out with some form of currency. The people can't survive on 90% silver coins or silver and gold bullion. Too few people have any. So, I can't see anything like this going on for more than a few days to a couple of weeks at most. Now if we were hit by a "comet", that might be a different story


I'm thinking if the SHTF it may be longer than a few days to a couple of weeks before the government does anything. 90% is only part of the equation, anything tangible will be of help. Now, if a comet hits....... you can have my stash.

[cugir321]

[quote=cugir321;56883]
I was very surprised they had a seven day clause in the new account rules. Never saw that before. It says: We reserve the right to at any time require not less than 7 days notice in writing before any withdraw from an interest bearing account. Why do you think they'd insert that clause?QUOTE]


No LESS than 7 days? In other words, 1 week or MORE with no limit? Are you sure?

They said it wouldn't be a problem most the time unless they don't have the cash money on hand in a branch. The only time it would be a problem is when you really need to take it out because of a bank problem or fed problem. The clause is too generic, written by lawyers. They can apply it whenever and however they like. This is not acceptable to me.

Yes...this is straight from the new account rules. It only applies to interest bearing checking acounts. I switched to a regular free checking today. .05 interest is not worth tying up my money for seven days. They really tried to push me to stay with the interest account. She said, you may not be able to get your money right away even with a non-interest account....I said well I'll go to all your branches and pick up a little at each....she agreed. This would not be possible with the interest account if they don't want to release the money....it's their call. At worst case, it would only be a couple days with the non interest account.

Protect yourself!!! Plan for the worst and hope for the best.

[other1z]

This is actually one of the better-dialog"ed" threads that has taken place in a while. A couple of my thoughts:

~ I can't believe I'm saying this, but i agree with Cugir. Silver is silver is silver is silver. It ain't going anywhere that it won't ULTIMATELY be higher from, but the banks...that is a scary situation.

~ 90%...is a poor investment, IMO. Remember, my opinion does not have a post-apocalyptic end to it, so why should I pay more for something that is less pure than the other thing?

~ Predictions, TA, whatever. See THIS (http://forums.silverseek.com/showthread.php?p=57021#post57021) to read my stated opinion on predictions. Cuphandles, panhandles, lovehandles...they're all the same thing...EDUCATED GUESSES. They carry merit for guidance and historic trend...not as law.

~ My theory, is and always has been...buy you silver, and lock it away to collect dust. Don't talk about the silver market, and your personal stash, in the same phrases, otherwise you become emotional to your stash and your feelings might ebb and flow with market price. This opinion ONLY fits my personal reasons for buying PM...it may not suit yours, but it allows me to completely disconnect with dips, spikes and otherwise notoriously faux-emotional reasons to convince the public that some is or is not happening. Lock it away, and go about your business.

~ Oh yeh...did I mention that the drop in silver is just one more pull-back in the long term appreciation of the precious metal? Take out the anomalies that can be proven (e.g the Hunts, ETF overstatements etc.) and track silver from the start of market tracking to now, and what you are left with is one GIGANTIC illustrating of price appreciation. Hell...if you want to be conservative, leave the falsities (e.g. Hunts etc.) in the average and make your own scatter-plot average. You still ARRIVE AT THE SAME THING!!! Appreciation from start to present.

~ I like pickles...A LOT!

[What is Truth?]

Wasn't silver supposed to be well on its way to seventeen by now ?

My prediction and challenge to Katwoman. By the first day of Summer, June 21st 2009, I predict that the offical spot price of silver will be closer to $10.00 than Katwoman's $17.00. Katwoman, will you stand by your $17.00 prediction and accept my challenge?

[ricm123]

[quote=SeekrBrnEvryMin;56992]

I was very surprised they had a seven day clause in the new account rules. Never saw that before. It says: We reserve the right to at any time require not less than 7 days notice in writing before any withdraw from an interest bearing account. Why do you think they'd insert that clause?
Protect yourself!!! Plan for the worst and hope for the best.

This is a new one to me too.

If I had an account like that I'd be sure I had at least 7 days worth of cash reserve at home.

Or , if you like to play games, give them notice you plan to withdraw all your money within the next month.

If your plans change, I'm sure you're not obligated to withdraw anything.

Keep your notice on file at all times.
Get extra blank forms and file one regularly. Even visit various branches if you need to.

You said "not less than 7 days" .... what's the "not greater than" time window?

[Ardent Listener]

[quote=cugir321;57049]

This is a new one to me too.

If I had an account like that I'd be sure I had at least 7 days worth of cash reserve at home.

Or , if you like to play games, give them notice you plan to withdraw all your money within the next month.

If your plans change, I'm sure you're not obligated to withdraw anything.

Keep your notice on file at all times.
Get extra blank forms and file one regularly. Even visit various branches if you need to.

You said "not less than 7 days" .... what's the "not greater than" time window?


If I had an account like that I would get another account at another bank. If all the banks become like that I would keep 7 days of cash reserve in the bank and the rest at home.

[AgCarp]

I was very surprised they had a seven day clause in the new account rules. Never saw that before. It says: We reserve the right to at any time require not less than 7 days notice in writing before any withdraw from an interest bearing account. Why do you think they'd insert that clause?



I can understand on a savings or CD, but what about an interest bearing checking?

[cugir321]

[quote=cugir321;57049]

This is a new one to me too.

If I had an account like that I'd be sure I had at least 7 days worth of cash reserve at home.

Or , if you like to play games, give them notice you plan to withdraw all your money within the next month.

If your plans change, I'm sure you're not obligated to withdraw anything.

Keep your notice on file at all times.
Get extra blank forms and file one regularly. Even visit various branches if you need to.

You said "not less than 7 days" .... what's the "not greater than" time window?

I typed it verbatium right out the rules. The key is to not be in that situation. If your bank is teetering....or the fed goes bad, then you want to be able to react as fast as possible. I'm not waiting for the 8th day to collect. If my bank goes to a 3 star rating on bauerfinancial.com then I'm gone! I'd rather have the cash buried in the ground.

[cugir321]

They said that all banks use this on interest bearing accounts, checking, savings, or MM. I'll check my other bank.



I can understand on a savings or CD, but what about an interest bearing checking?

[AgCarp]

They said that all banks use this on interest bearing accounts, checking, savings, or MM. I'll check my other bank.

That is nice to know. I could really get screwed. Sometimes my business has to pay out on very short notice.

[cugir321]

Read my post..."The sneeky Fed"...on the silver market. It's very disturbing!
That is nice to know. I could really get screwed. Sometimes my business has to pay out on very short notice.

[SilverHunter007]

Some of this conspiracy crap is blown so far out of proportion it's pathetic. There has always been men and women in power that have manipulated people and money since the beginning of time .But all they get is hated on bye the people that have no power the same people if the people in power gave them the power they wouldn't know what to do with it or would abuse it for there own self interest .Sure we all say we wouldn't but if I made you the C.E.O of AIG tomorrow you wouldn't have a clue what to do its easy to hate the people at the top but if it wasn't for them we would still be going to the bathroom in outhouses carrying candles for light! Could you invent a resistor or build a jet engine I think not. But the people who have achieve things like that are always hated on by the ones whom haven't so save all the BS for another group of under achievers as long as you strive in this world and give it your best you will be better off then the people that don't and have given up. I know a lot of you won't like what I have to say but I have been watching you people for a long time and just had to put my two cents in sorry if it offends you please let me offer my apologies in advance but it just the opinion of one American and in this country I think I still have the right. As for silver i think we are going to see mid 10's before MAY. P.S Don't worry about stuff thats out of your control. have a nice day :)

[cugir321]

Where's your confidence? We would take care of you. ;) You sound like a banker I know.


Some of this conspiracy crap is blown so far out of proportion it's pathetic. There has always been men and women in power that have manipulated people and money since the beginning of time .But all they get is hated on bye the people that have no power the same people if the people in power gave them the power they wouldn't know what to do with it or would abuse it for there own self interest .Sure we all say we wouldn't but if I made you the C.E.O of AIG tomorrow you wouldn't have a clue what to do its easy to hate the people at the top but if it wasn't for them we would still be going to the bathroom in outhouses carrying candles for light! Could you invent a resistor or build a jet engine I think not. But the people who have achieve things like that are always hated on by the ones whom haven't so save all the BS for another group of under achievers as long as you strive in this world and give it your best you will be better off then the people that don't and have given up. I know a lot of you won't like what I have to say but I have been watching you people for a long time and just had to put my two cents in sorry if it offends you please let me offer my apologies in advance but it just the opinion of one American and in this country I think I still have the right. As for silver i think we are going to see mid 10's before MAY. P.S Don't worry about stuff thats out of your control. have a nice day :)

[valerb@bellsouth.net]

They said that all banks use this on interest bearing accounts, checking, savings, or MM. I'll check my other bank.

You don't have to check, it is the same at all banks.

I gave up my savings accounts two or three years ago and put all of my cash in three different banks, in non-interest bearing checking accounts!

My branch manager told me they are under no obligation to allow savings to be withdrawn in a financial crisis. He said non-interest bearing checking accounts are the safest bet and the first ones to be allowed to withdraw cash. So, I figured if they are going to limit cash withdrawals, I'm better off being in several banks. The plus side is the free safe deposit box that comes with the checking account. I have two in each of three banks. I don't know if having two checking accounts in the same bank will allow additional cash withdrawals, but I do get the extra box for free. I actually pay for an upgrade to the next larger sizes, but it is minimal.

Yes, I know the risk, but It's one I'm willing to take!!

I personally sleep much better knowing my silver is in bank deposit boxes, than hidden in my house. If someone points a gun at my head, I'll open the safe and let them take the cash and the few ounces of silver inside. I figure the worst that can happen in the bank, is some form of government redemption program. Since they already know about most of my silver purchases, I wouldn't try to hide it from them.

[cugir321]

My new bank only gives the safety deposit box with the interest checking gold account...they almost got me with that one.


You don't have to check, it is the same at all banks.

I gave up my savings accounts two or three years ago and put all of my cash in three different banks, in non-interest bearing checking accounts!

My branch manager told me they are under no obligation to allow savings to be withdrawn in a financial crisis. He said non-interest bearing checking accounts are the safest bet and the first ones to be allowed to withdraw cash. So, I figured if they are going to limit cash withdrawals, I'm better off being in several banks. The plus side is the free safe deposit box that comes with the checking account. I have two in each of three banks. I don't know if having two checking accounts in the same bank will allow additional cash withdrawals, but I do get the extra box for free. I actually pay for an upgrade to the next larger sizes, but it is minimal.

Yes, I know the risk, but It's one I'm willing to take!!

I personally sleep much better knowing my silver is in bank deposit boxes, than hidden in my house. If someone points a gun at my head, I'll open the safe and let them take the cash and the few ounces of silver inside. I figure the worst that can happen in the bank, is some form of government redemption program. Since they already know about most of my silver purchases, I wouldn't try to hide it from them.

[of one mine]

I see that not everyone knows that guns and ammo are now in short supply. Try to find some in the turners store they are all out. THis I was told by a guy who loads his own shells. Also the banks will give you two days to close your account a good option if you dont want to wait. (see my other post)
From the info on the future of PM I think I wouold look for silver to fall more. All the indicators I agree are there but as always you have to wait and watch the economy and the news. Those forclosure notifications will cause a lot of headache both for the economy and the people loosing thier homes. I should know my son in law is loosing his house. You should see a reaction on monday but I of course dont know if Obama will try to paint it over. He seems to do that prop them up to make it look better. I dont blame him though most would do the same. He should just take back all that money he printed and let some big companies fold. Things GM should have been told a long time ago.;)

[valerb@bellsouth.net]

My new bank only gives the safety deposit box with the interest checking gold account...they almost got me with that one.

Mine are free for everyone over 55. I don't know if they all do that, but the first two I went to did, as well as my original bank. Nice setup. My daughter is listed on all of the safe deposit boxes, but can only gain access in case we are both dead. The bank said she gets everything without going through probate or taxes. Apparently since there is no value to the boxes, they just become her property. No records showing she ever purchased any silver when it comes time to sell, an added plus.

Don't get me wrong, I am expecting to cash in myself!!

[krispy]

Some of this conspiracy crap is blown so far out of proportion it's pathetic. There has always been men and women in power that have manipulated people and money since the beginning of time .But all they get is hated on bye the people that have no power the same people if the people in power gave them the power they wouldn't know what to do with it or would abuse it for there own self interest .Sure we all say we wouldn't but if I made you the C.E.O of AIG tomorrow you wouldn't have a clue what to do its easy to hate the people at the top but if it wasn't for them we would still be going to the bathroom in outhouses carrying candles for light! Could you invent a resistor or build a jet engine I think not. But the people who have achieve things like that are always hated on by the ones whom haven't so save all the BS for another group of under achievers as long as you strive in this world and give it your best you will be better off then the people that don't and have given up. I know a lot of you won't like what I have to say but I have been watching you people for a long time and just had to put my two cents in sorry if it offends you please let me offer my apologies in advance but it just the opinion of one American and in this country I think I still have the right. As for silver i think we are going to see mid 10's before MAY. P.S Don't worry about stuff thats out of your control. have a nice day :)

Actually, if you research closely, not one rich banker crimelord has ever invented something good. Only the poor, working class have made the inventions that bring us out of the dark. that is the single most significant problem that the rich guys have - no ingenuity. they rely on the working class to invent then they steal through the patent system or whatever means necessary. thats the problem with being rich and powerful. you have no drive to be ingenius - you already have it all you have your head so far up your ass you dont think anymore. all you think about is more power. you cant have both greed and smarts! that will also be their downfall. the rich bastards took power over human creativity. watch them suffer because of it. nothing lasts forever, not even banking.