warpig Posted February 19, 2009 Report Share Posted February 19, 2009 I can't believe no one commented on the youtube video above... What an anthem! Link to comment Share on other sites More sharing options...
romans holiday Posted February 20, 2009 Report Share Posted February 20, 2009 Well, back in Korea after a summer holiday. End of year bonus in the bank account. All good until I checked out the exchange rate. Korean won is now trading at 1500 against the US dollar. To put that in perspective, it only took 900 odd won to buy a dollar not even a year back. A little longer at this rate and the won will have halved its value. So what to do with that bonus? Who you gonna call? Goldmoney! So loaded up on silver which I may make a habit of for the next few months. Every pay day... faster than you can check the exchange rate... I'll be calling goldmoney. Who said there no such thing as a silver bullet. Link to comment Share on other sites More sharing options...
dopamine Posted February 20, 2009 Report Share Posted February 20, 2009 No change yet in the Ag:Au ratio with this recent surge, by my calculations. The question is will silver correct to the same degree when (if) this current high in gold corrects or will we see a reduction in the ratio. I'm sticking to ag in goldmoney from now on and may swap some of my gold for silver over the weekend. Link to comment Share on other sites More sharing options...
romans holiday Posted February 20, 2009 Report Share Posted February 20, 2009 No change yet in the Ag:Au ratio with this recent surge, by my calculations. The question is will silver correct to the same degree when (if) this current high in gold corrects or will we see a reduction in the ratio. I'm sticking to ag in goldmoney from now on and may swap some of my gold for silver over the weekend. Ratio looks to be consistently coming down. Silver looks like the one to buy at the moment... considering of course how much gold compared to silver you already hold. http://howestreet.com/audiovideo/index.php...ediaplayer/1111 Link to comment Share on other sites More sharing options...
dopamine Posted February 20, 2009 Report Share Posted February 20, 2009 Ratio looks to be consistently coming down. Silver looks like the one to buy at the moment... considering of course how much gold compared to silver you already hold. http://howestreet.com/audiovideo/index.php...ediaplayer/1111 I'm 50:50 at the moment. Thinking of going to 70:30 in favour of ag. However I do worry that silver has more downside potential since it still behaves like an industrial commodity to a degree (which is why it isn't over $20/oz with gold at around $1K). This fear may of course be misplaced - but gold still seems 'more like money' to me and less of a speculative play (I have a weakness for speculative plays, which is why I'm aware that I need to stop myself making sudden decisions on my PM holdings). Link to comment Share on other sites More sharing options...
azazel Posted February 20, 2009 Report Share Posted February 20, 2009 Do the Americans have to pay VAT or some other tax on silver or gold? Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 20, 2009 Report Share Posted February 20, 2009 http://gold.approximity.com/gold-silver_watch.html Link to comment Share on other sites More sharing options...
dopamine Posted February 21, 2009 Report Share Posted February 21, 2009 Have there been any recent silver sammy pronouncements? Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 21, 2009 Report Share Posted February 21, 2009 Have there been any recent silver sammy pronouncements? I don't think so. Link to comment Share on other sites More sharing options...
Errol Posted February 21, 2009 Report Share Posted February 21, 2009 Have there been any recent silver sammy pronouncements? Didn't he sell all his silver a few months ago? I was under the impression he'd given up. Link to comment Share on other sites More sharing options...
azazel Posted February 21, 2009 Report Share Posted February 21, 2009 Didn't he sell all his silver a few months ago? I was under the impression he'd given up. Surely that is the ultimate Sammy silver contra indicator that "this is it". Im disapointed with silvers performance so far. In hindsight I'd have been better off being in just gold, but I'm optimistic that silver will be propeled upwards with gold like they were connected with elastic. People want to buy gold but it seems expensive and risky, but silver is still quite cheap. £30,000 will buy you 40 ounce gold coins or 2000 ounce silver coins. Link to comment Share on other sites More sharing options...
romans holiday Posted February 21, 2009 Report Share Posted February 21, 2009 James Turk made some interesting points about the gold/silver thing on FSN today. The main point being gold is inelastic [constant] as opposed to silver's elasticity [in regard to demand]. If deflation does set in, the conventional wisdom is gold will perform best. Yet, I am thinking that silver will also perform well as demand for it as "poor man's gold" should increase due to most currencies depreciating this time round. Link to comment Share on other sites More sharing options...
Icarus Posted February 23, 2009 Report Share Posted February 23, 2009 People have been comparing the recent rise in the price of silver to the commodity bubble of 2008. In my opinion the two phenomenon are entirely different. The bubble was caused by speculators gambling with massivly leveraged positions. Current price increases, on the other hand, reflect a shortage of available silver and is being driven by small investors trying to preserve their wealth. Government sales of around 50 million ounces of silver per year, every year, for a hundred years, have kept the price artificially low.(see http://www.silverinstitute.org/supply_demand.php#demand.) Low prices allowed to silver being used as an industrial metal. Now that the above ground supply has now been almost completely wasted prices must start to rise. Just to bring supply and demand into equilibrium the price of silver has still got to increase massivley. Furthermore, as the price increases, investors will be reminded that silver is a store of value. For it is rare, in demand and can not be destroyed. Not only is the price of silver set to rise massively but the price increases will be permanent. Buy and hold. Link to comment Share on other sites More sharing options...
romans holiday Posted February 23, 2009 Report Share Posted February 23, 2009 People have been comparing the recent rise in the price of silver to the commodity bubble of 2008. In my opinion the two phenomenon are entirely different. The bubble was caused by speculators gambling with massivly leveraged positions. Current price increases, on the other hand, reflect a shortage of available silver and is being driven by small investors trying to preserve their wealth. Government sales of around 50 million ounces of silver per year, every year, for a hundred years, have kept the price artificially low.(see http://www.silverinstitute.org/supply_demand.php#demand.) Low prices allowed to silver being used as an industrial metal. Now that the above ground supply has now been almost completely wasted prices must start to rise. Just to bring supply and demand into equilibrium the price of silver has still got to increase massivley. Furthermore, as the price increases, investors will be reminded that silver is a store of value. For it is rare, in demand and can not be destroyed. Not only is the price of silver set to rise massively but the price increases will be permanent. Buy and hold. James Turk on silver related to gold towards the end of vid; silver/gold 20:1 http://www.cnbc.com/id/15840232?video=1043145353&play=1 Link to comment Share on other sites More sharing options...
ologhai Posted February 23, 2009 Report Share Posted February 23, 2009 James Turk on silver related to gold towards the end of vid; silver/gold 20:1 http://www.cnbc.com/id/15840232?video=1043145353&play=1 It's very often said that 'historically' the ratio between the prices of gold and silver is about 20:1 (or less), and, therefore, implied (and sometimes explicitly stated) that we should be expecting a return to that 'norm'. However[1], the ratio hasn't been consistently 20:1 (or lower) since about 1880, and since then has fluctuated between about 100:1 and 20:1, the average ratio over the last century being about 48:1. That's not to say it won't be sub-20:1 again (as it has been a couple of times in the 20th century), but it does seem odd to me that sub-20:1 is time and time again cited as being 'the norm'. [1] Assuming the data I have are correct. Link to comment Share on other sites More sharing options...
romans holiday Posted February 23, 2009 Report Share Posted February 23, 2009 It's very often said that 'historically' the ratio between the prices of gold and silver is about 20:1 (or less), and, therefore, implied (and sometimes explicitly stated) that we should be expecting a return to that 'norm'. However[1], the ratio hasn't been consistently 20:1 (or lower) since about 1880, and since then has fluctuated between about 100:1 and 20:1, the average ratio over the last century being about 48:1. That's not to say it won't be sub-20:1 again (as it has been a couple of times in the 20th century), but it does seem odd to me that sub-20:1 is time and time again cited as being 'the norm'. [1] Assuming the data I have are correct. Yep, I wouldn't bet the house on silver. Gold will remain my core position with silver being a more 'peripheral" investment. If the future is characterized by wealth destruction and if currencies also depreciate, I think silver should do well as a store of value. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted February 23, 2009 Report Share Posted February 23, 2009 silver holding its own today, palladium has taken a bit of a beating though Link to comment Share on other sites More sharing options...
Icarus Posted February 24, 2009 Report Share Posted February 24, 2009 It's very often said that 'historically' the ratio between the prices of gold and silver is about 20:1 (or less), and, therefore, implied (and sometimes explicitly stated) that we should be expecting a return to that 'norm'. However[1], the ratio hasn't been consistently 20:1 (or lower) since about 1880, and since then has fluctuated between about 100:1 and 20:1, the average ratio over the last century being about 48:1. That's not to say it won't be sub-20:1 again (as it has been a couple of times in the 20th century), but it does seem odd to me that sub-20:1 is time and time again cited as being 'the norm'. [1] Assuming the data I have are correct. Gold was not priced higher than silver because it is yellow, or because it is more dense or maliable. Both silver and gold are traditionally used as money. For that funtion the two elements are practically identicle. They equally divisible. and fungible. Neither decays to theyare be equally good stores of value. Their relative values was historically determined by how rare each element was. And the classic ratio of 16:1 is very close to the relative quantities of silver and gold in the earth's crust. (http://www.gold-eagle.com/editorials_01/poitras022801.html) Silver became more abundant after the discovery of America, consequently its value fell. But the metal is now much rarer than gold. And or silver to become so abundant again would require surplusses of around 50 million ounces per year for a hundred years. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 24, 2009 Report Share Posted February 24, 2009 http://jsmineset.com/index.php/2009/02/24/...-trader-dan-72/ "Silver Eagles are still rationed," Cook said of the silver bullion coins available from the U.S. Mint. "We get 20,000 a week and they fly out the door. We can get 10,000 Silver Eagles on a Monday and basically they’re gone in 15 minutes. I have 55 guys on the phone calling out." Link to comment Share on other sites More sharing options...
Perishabull Posted February 25, 2009 Report Share Posted February 25, 2009 People have been comparing the recent rise in the price of silver to the commodity bubble of 2008. In my opinion the two phenomenon are entirely different. The bubble was caused by speculators gambling with massivly leveraged positions. Current price increases, on the other hand, reflect a shortage of available silver and is being driven by small investors trying to preserve their wealth. Government sales of around 50 million ounces of silver per year, every year, for a hundred years, have kept the price artificially low.(see http://www.silverinstitute.org/supply_demand.php#demand.) Low prices allowed to silver being used as an industrial metal. Now that the above ground supply has now been almost completely wasted prices must start to rise. Just to bring supply and demand into equilibrium the price of silver has still got to increase massivley. Furthermore, as the price increases, investors will be reminded that silver is a store of value. For it is rare, in demand and can not be destroyed. Not only is the price of silver set to rise massively but the price increases will be permanent. Buy and hold. Icarus, I own physical silver but I'm afraid you are flying into the sun here with your comment. When you say permanent do you mean Dr Irving Fisher's "permanently high plateau" ? Link to comment Share on other sites More sharing options...
Icarus Posted February 26, 2009 Report Share Posted February 26, 2009 Icarus, I own physical silver but I'm afraid you are flying into the sun here with your comment. When you say permanent do you mean Dr Irving Fisher's "permanently high plateau" ? It all comes down to supply and demand. Remember that, economically speaking, demand is not only people's desire for a product, it is also their ability to pay. Fore example, many people would like to own a Rolls Royce Corniche but unless they can actually afford one their desire has no effect on demand. Easily available credit can increase demand. This is because it gives people the means to buy goods and services that they can not afford. Increased demand pushes up price. With this knowledge we can easily identify the cause of the stock bubble of the late '20s. That is, credit to buy stocks was eaily available. Demand increased and prices rose. Responding to the increasing prices more and more people began to buy shares and a bubble was formed. A tightening of credit, or credit crunch, ended the easy credit. Thus causing decreasing demand. Prices fell. The stock market crashed. The increased price of silver is not based on a credit fuelled bubble. On the contrary, it is a decrease in the amount of silver available for sale, or the supply. In general. decreasing the supply of a product increases its price. The decrease in supply was caused by the amount of silver being used in industry being greater than the amount produced in mines. A situation which lasted a century and resulted in the permanent destruction of just about all the above ground stocks of silver. Now the price of silver must increase to reduce demand. The price rises must be sustained until supply increases to match demand, which is very unlikely. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 2, 2009 Report Share Posted March 2, 2009 Bloomberg: Silver Beats Gold for First Time Since 2006 on Refuge (already removed from the front page) http://www.bloomberg.com/apps/news?pid=206...&refer=home By Pham-Duy Nguyen, Claudia Carpenter and Glenys Sim March 2 (Bloomberg) -- Silver’s biggest discount to gold in 13 years has investors betting on the best annual return for silver since the Hunt brothers’ bid to corner the market in 1979. Money managers are buying precious metals as a refuge from the 47 percent drop in the Standard & Poor’s 500 Index in the past year and growing concerns that Treasuries will fall as the U.S. government pledges $9.7 trillion to revive the economy. While gold will rise 25 percent this year, silver may jump 58 percent to $18 an ounce, said Philip Klapwijk, chairman of London-based precious metals research company GFMS Ltd. “Silver will have a nice catch-up rally,” said Peter Sorrentino, who helps manage $15.5 billion at Huntington Asset Advisors in Cincinnati. “There’s a flight to precious metals as a storehouse of wealth. Silver got left behind and it’s been closing in quickly but there’s still a performance gap.” Huntington has about 7 percent of its assets in silver and 3 percent in gold, which is trading $80 an ounce below its record. ... “Silver is poor man’s gold, and there’s a lot more poor men than there used to be,” said Doug Hepworth, director of research in New York at Gresham Investment Management LLC. “Gold and silver are the only commodities that can overdo it in this environment.” Call me Silverfinger. http://gold.approximity.com/since1968/Silv...BP_RPI-adj.html Link to comment Share on other sites More sharing options...
Mr Pipples Posted March 2, 2009 Report Share Posted March 2, 2009 May well be some subscribers on here already, but I reckon David Morgan at www.silver-investor.com is worth a listen. Reckon I'll sign up soon - but even the free mailshot emails and bits are well worth a read. Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted March 2, 2009 Report Share Posted March 2, 2009 "Silver Eagles are still rationed," Cook said of the silver bullion coins available from the U.S. Mint. "We get 20,000 a week and they fly out the door. We can get 10,000 Silver Eagles on a Monday and basically they’re gone in 15 minutes. I have 55 guys on the phone calling out." then raise your selling price you numpties. jeez, how do these people stay in business? Link to comment Share on other sites More sharing options...
notanewmember Posted March 3, 2009 Report Share Posted March 3, 2009 www.airedalecoins.co.uk Looks like new stock has arrived. But bullion coins are now £18. [Maples/Eagle] £14 now looks cheap, if you can get hold of some. And those £16 Britannias seemed expensive, now look cheap in todays price increases. Link to comment Share on other sites More sharing options...
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