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SilverHawk
1st June 2008, 15:32
I see there are places around the country where they can't keep up and other places that have a decent selection.

I think you have to consider where you live, to guage the level of availability.

With the way people are in debt, today, the cash available to buy G&S is less than yesteryear. So in larger populated areas, people are more apt to have a few extra dollars to spend, verses smaller areas of the country where the amount of people with extra cash is less. Of course the Income is important too. The less you make, the more in debt you are, sending your paycheck to ExxonMobil and FoodStores. That's why foreclosures are up, credit card payments are increasingly becoming late, and car payments also falling behind. I could go on and on...

In the St. Louis area a few weeks ago my dealer turned over silver as fast as it came in. Even after the $21 spike, he kept his price up to where he made a small profit, and still had buyers. The buyers knew the dip was temporary and scarfed it up, fearing someone else would.

If there were 2 Spot Markets, the COMEX and the PEOPLE, Silver would probably be around $50 an ounce (just a guess).

My dealer in STL would actually call around to see if he could buy it over the phone and have it shipped to him.

So in conclusion, as the price goes higher, you'll see more people digging out those bars and rounds to bring down to the dealer for cash. Especially the ones who need to make that car payment. If you have more cash than most and want to buy 'em up, I suggest you become good friends' with your local dealer. So he not only gives you good deals, but can also call you on the phone to let you know he just got in more stock. Dealers love good customers.

I remember in Little Rock AR, 1980-ish, there were places in town with 2 methods of payments for their goods. $200 cash or $8 in circulated silver coinage (rough guess). There were commercials on TV, non-stop, from dealers in hotel rooms begging you to bring down your silver and gold for "Cash Now". We're not quite there yet, but I know and see it coming...

See you all at the top!

Richard
1st June 2008, 23:59
I remember in... 1980-ish,

I was only four then, and didn't have the slightest clue what was going on. Anyway, I'm just wondering something that maybe some of you "old timers" can answer me...

Back then, what were people saying? Was there talk of financial collapse like there is now? What about the conspirists and their theories? Or was that stuff even invented yet?

SilverHawk
2nd June 2008, 00:39
Well, to tell the truth, I just went into the Air Force and knew nothing about "the game of life". Never watched news, never had conversation about current events. It was the start of learning how to play the game of life. My parents never got me interested in how to make it in life, and educate myself about the system. So I can't tell you what people were saying or how they felt. :(

mountainmurph
2nd June 2008, 09:06
I was 25 when silver went to $50.The only talk I remember was about the Hunt Bros. cornering the market. I was partnered with my Dad [R.I.P.] in about $1000 face silver coins, I wanted to sell ,he refused to .I still have those coins ,plus....

nuslvrkwen
2nd June 2008, 13:02
I remember in Little Rock AR, 1980-ish, there were places in town with 2 methods of payments for their goods. $200 cash or $8 in circulated silver coinage (rough guess).

I was married in California after 1983. My ex was buying Walking Liberty's then, and we expected silver to be our hedge! We didn't buy bullion though, so I couldn't tell you about any shortages in the Bay Area.

I'm thinking about this because the way things are NOW, and how my attitude about economy was back then - (pre - 1983) actually made it so I could live outside the US for a couple of years! I was a single mom! My son went to school in the UK as a result, and he's mentioned how that opportunity was pivotal to his school, and career!

I left because I was sick of the Reagan Administration. My being sick of the way things were, and having the ability to go somewhere else has always stayed with me as a hedge should we end up in a place here in the government is screwing people left and right to fix its' own messes.

So besides money to live comfortably on, you need to be flexible enough to leave when possible.

TTAZZMAN
2nd June 2008, 19:42
I dont remember any "end of the world" talk back then, but inflation was high no one wanted to hold FRNs,

It seemed like there was a refinery outlet on every corner offering to buy your PMs ....they would have trucks come in sometimes twice a day to haul the PMs off to the refinery.

you could make or lose $ standing in line things were changeing that fast

90% coinage converted to FRNs immediately
most drilled 100oz bars

i remember people driveing to the mint to get gold coins

i remember family members scratching up sterling to sell off

Lots of thefts where the theives were looking specificly for PMs...class rings..silverware...etc.

SilverWhore
2nd June 2008, 22:50
were commercials on TV, non-stop, from dealers in hotel rooms begging you to bring down your silver and gold for "Cash Now". We're not quite there yet, but I know and see it coming...

We are pretty much there already. Every ad for coin dealers and jewlers in the phone book is about buying from you. They all say "WE BUY GOLD AND SILVER, PAY HIGHEST PRICES!" They have signs saying the same thing on their stores, I see a few local tv commercials and MANY national and local radio commercials imploring you to bring your old jewlery and "Get big bucks!" for it. It was a few years of ads bombarding me about investing in gold that got me to look into this and get involved with silver in the first place lol.

Richard
3rd June 2008, 13:03
Thanks to all who answered my question!

SilverWhore: Yes, I get emails in my inbox with such offers. And more ads are popping up around the 'net. The "highest price" is certainly questionable!

Getting back to the old days...

Okay, so three times the amount existed then as now and it reached 50. This much I have seen on the charts, but I'm only looking at it with questions in mind now. So we're talking at least $150/oz today and perhaps, as mentioned in other posts, that the paper market is at least 90 times the real supply... $13,500/oz ???

That's what I hate about all this distortion... I can't figure it out! And THAT'S not even taking into consideration money supply (assuming silver will be money again)! I don't even know that what I just said makes any logical sense!

Oh well. We're below 20 and all I know is that that's not nearly enough to even consider selling. Still, it would be nice to track it's progress with a clearer picture in mind...

nuslvrkwen
3rd June 2008, 14:35
Getting back to the old days...

Okay, so three times the amount existed then as now and it reached 50. This much I have seen on the charts, but I'm only looking at it with questions in mind now. So we're talking at least $150/oz today and perhaps, as mentioned in other posts, that the paper market is at least 90 times the real supply... $13,500/oz ???

That's what I hate about all this distortion... I can't figure it out! And THAT'S not even taking into consideration money supply (assuming silver will be money again)! I don't even know that what I just said makes any logical sense! - Richard

Richard - I'm with you! All the distortion is not going to get better. It drives me crazy, because for something there's supposed to be LESS of now than when it went up to $50 an ounce! What money supply? Have you seen a trustworthy estimation of the US money supply? With over $367+ Trillion dollars worth of derivatives and bonds out in the money supply - and our dollar really only spending between .68 and .75 per dollar, maybe we should be looking at this differently. The spendability of dollars is so devalued any one with cash knows they must put the money they get somewhere where they will get the biggest return for it when they HAVE to use the money!

The fabulous CFTC is mounting in investigation into the cotton market. First oil, now cotton. Investigating the possible manipulation of commodity prices. To quote the CNNews/Reuters article: The CFTC was conducting the investigation after a meeting in April between farmers, investors, and other market participants expressed concern, and explored the disconnect between futures and cash prices. They also wanted to explore the impact higher margin requirements for trading, and the roll played by speculators, and commodity index traders.

It's a lame investigation because the CFTC is being pressured by Congress to DO something about the large run up in commodities prices. This SAME disconnect in futures prices and actual commodity is what's happening with Silver MORE than Gold! It's been happening for years! Only IT WON'T be investigated BECAUSE this is where the financial markets GET their hard currency - short trading silver and to a less extent gold bullion. Or is it paper representations of silver and gold bullion from pool accounts? Since the merger of the NYMEX and COMEX in 1994 things have been just plain wrong with trading. This decade we got commodity index funds and over the counter stock swaps that don't have to be reported to anybody.

Ain't this FUN?

Richard
3rd June 2008, 16:51
Have you seen a trustworthy estimation of the US money supply?

Yeah... the real gold/silver ratio! Pretty danged simple too, no having to guess past any manipulation or uncertain dollar supplies... 1 billion ounces of silver exist, 5 billion gold. The law of supply and demand says one ounce silver will buy 5 ounces of gold.

Gotta love that simplicity. :)


Only IT WON'T be investigated BECAUSE this is where the financial markets GET their hard currency - short trading silver and to a less extent gold bullion.

Yeah, but they can't short trade it forever. If there's going to be a bubble in pm, esp silver, then they either unleash it or let it drop to zero (or maybe less! Imagine that...). So they'll have close out the short manipulative postions and instead go for long manipulative positions and then...

But that won't kill the fiat system. That's what I've really been trying to figure out here. Kinda bums me out to realize that but what can we do? I think, though, as long as it pours into pm it won't be as harmful as going into other places like oil and food. Maybe, maybe not... haven't made up my mind on that yet.


Ain't this FUN?

Oh yeah... best headache I've ever had! :)