Buy and selling physical gold and silver

[AIRider]

Out of curiosity, did anyone watch the videos I linked at the top? I think it's worth checking out...

Here is more information about the LETS system proposed in the videos. Apparently, this kind of system has actually been used with some degree of success in other places around the world. I have my own opinions about the feasibility/practicality of a system like this, but I was wondering what others think.

Here are some additional links about LETS.

http://www.gmlets.u-net.com/

http://en.wikipedia.org/wiki/Local_e...trading_system

I watched the videos and there're very interesting but I was already aware about the debt equals money portion, and the rest of the videos are also very cool thank you

[sdpauly]

Great read today on Mises.org

http://mises.org/daily/6028/New-York...e-the-Building

TLDR; an Austrian economist gets invited to give a speech at the New York Federal Reserve. This is mainly directed at those on this thread that have claimed the Austrian School of economists are some kind of "fringe" group that lacks any credibility. Say what you will about the overall credibility of the Fed or the economics profession in general, but this is a refreshing development.

Besides, this thread needed a bump, it had fallen to page 2.

[mauslick]

update: all central banks still holding tons of gold, some , like the russians are buying gold

why? ben bernanke: "it's a tradition"
ron paul "a lot of people think gold is money"

some even quote the golden rule "he who has the gold makes the rules"

that has been transformed to "he who has the nukes, makes the rules"

which has given us " how is you credit score".........

[a_riot]

Great read today on Mises.org

http://mises.org/daily/6028/New-York...e-the-Building

Doesn't seem to have made silver go over $100/oz though. When is that going to happen? i want to mark that on my calendar.

[a_riot]

Whatever happened to Mezran? Is he too busy backing his truck up buying more silver to post anymore? Or is he too embarrassed that all his prognostications were completely wrong? Perhaps he's too busy working a $8/hr job to pay off his silver debts.

Silver is now under $30 so I wonder if that previous support will turn into resistance. Glad I didn't take his advice and convert my life savings into silver when it was in the $40's like he insisted everyone do or die bankrupt.

[arric]

[sdpauly]

Doesn't seem to have made silver go over $100/oz though.

Was it supposed to?

The current pullback in Au/Ag should be seen as a buying opportunity. Remember both hit lows last Summer too (July to be exact) and came back with a vengeance in the Fall. The fundamentals have not changed, and with France's latest election putting another nail in the coffin of the EU, it's only a matter of time before Global Economic Crisis "part 78910" occur again...

Combine that with the prospect of another middle east war, and radioactive clouds from Fukushima blowing across the West Coast, etc... Yup my Au/Ag investments are staying right where they are. I may even add some more to my position this week, depending on how low we go.

[a_riot]

STFU a_fraud!

September 4th, 2011.

Silver $43.06
US 74.708

Silver Chart


Dollar Chart

Has to be the absolute worst call in the history of M&I. Look at the charts from September forward. Both trades went in the losing direction in concert. Ouch!

[a_riot]

Was it supposed to?

According to you and Mezran yes.

[mauslick]

how about those who bought gold at 200, 300, 400, 500, 600, 700, 800, 900, 1000, 1100, 1200, 1300, 1400, 1500,?????

how about those who bought silver at, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 , 21, 22, 23, 24, 25, 26, 27,???

how about those cremding on themselves for buying apple at 500.00?

how about the guy who's pay hasn't gone up but a big mac meal is 7.00?

how about considering the game isn't over before making some sort of smug judgement

how about those who don't give a sh*t whats posted on some internet forum?

[sdpauly]

According to you and Mezran yes.

Please go find where I said silver would be $100 this year. I'll wait...

I might have said silver will hit $60, back last year when it almost did, but I never said it would be $100 any time soon. I do think it's possible within the next 10 years or so, if present trends remain unchanged.

[a_riot]

Please go find where I said silver would be $100 this year. I'll wait...

I might have said silver will hit $60, back last year when it almost did, but I never said it would be $100 any time soon. I do think it's possible within the next 10 years or so, if present trends remain unchanged.

You've been relentlessly pushing silver as an investment for months, even when it was $50. If you are pushing silver at $50 obviously you think it will go a lot higher. I can only hope that no one here listened to you and Nezram and lost a lot of their money. I know one poster here took you at your word and bought silver at around $45, so they've lost almost half their money. Way to go!

[sdpauly]

You've been relentlessly pushing silver as an investment for months...

Relentlessly pushing? LOL, that's ridiculous. Please find where I did so and quote me. I always caution people to do their own research, anything I ever stated was an opinion and I have always qualified it as such. I have always stressed a long term time horizon for PM investing.

I know one poster here took you at your word and bought silver at around $45, so they've lost almost half their money.

That's a bummer. Good thing I never told anyone to buy anything. And if your time horizon is 10 years or so, I think it will be back over $45 some time in the next few years, maybe sooner. So, they haven't really lost anything if they don't need to sell it right away. I have also always advocated cost-averaging, not buying all of it all at once. Instead spread your purchases over the course of a year or several years, if you did that you could take advantage of the recent pullback and add to your position and lower your average cost basis.

I haven't gotten any angry PMs from anyone on the 'Tex chastising me for telling them to buy silver, so I think you're just making all that up to sound superior.

[a_riot]

Relentlessly pushing? LOL, that's ridiculous.

You've got to be kidding. The evidence is all through this thread. You were promoting PMs and telling members to "buy at the dips" back when silver was falling through the high 30's.

Please find where I did so and quote me. I always caution people to do their own research, anything I ever stated was an opinion and I have always qualified it as such. I have always stressed a long term time horizon for PM investing.

Yeah, in your dreams maybe...

That's a bummer. Good thing I never told anyone to buy anything.

Yeah, a real bummer you lie through your teeth constantly.

Silver is also exploding right now! Again, wait for a pullback before loading up substantially, but silver is much more approachable (price wise) than gold and has a much better prospect for big percentage gains in the coming years. I am expecting silver to be several hundred dollars an ounce in the next 10 years.

I would suggest putting some money into gold and silver. Buy and hold physical, not just ETFs or futures contracts. See my comments posted in the other thread about gold and silver for reasons why.

You must hate it that I was correct about PMs, USD and CHF after calling me a_idiot countless times. I won't rub it in though, since you have enough to worry about after losing all that money you invested in gold and silver, shorting the USD, etc.


Silver Chart


Dollar Chart

[sdpauly]

Saying "several hundred in 10 years" is quite a different thing from saying "100 this year" but thanks for trying. Also thanks for saving me the time and proving my case for me. I never said silver was going to be 100 this year and you proved it for me, thanks!!

I see nothing wrong with what I said, and it's certainly not even close to what you characterize it as... There were certainly words of caution along with the 'hype'. I have and continue to advise buying the dips. Now is a dip (IMHO $28 is a steal right now). Could I be wrong? Sure. Make your own choice.

[a_riot]

Saying "several hundred in 10 years" is quite a different thing from saying "100 this year" but thanks for trying. Also thanks for saving me the time and proving my case for me. I never said silver was going to be 100 this year and you proved it for me, thanks!!

Split hairs if it makes you feel better, but your relentless advice for everyone to "buy the dips" was very wrong since anyone who did has now lost considerable money. You obviously don't have much of a clue when it comes to investing or PMs and just spout whatever nonsense the latest doom and gloomer on YouTube just made a video about. You are brainwashed and desperately need others to agree with your incorrect assumptions to feel legitimized so you continually bash us over the heads about what fools we are for not buying PMs and staying in the USD. Basically, the exact opposite of what you said would happen happened, with a stronger USD, and falling commodities. Your response is essentially "Yeah, well wait 10 years and you'll see I'm right". What a joke.

[a_riot]

Now is a dip (IMHO $28 is a steal right now).

If at $28 its a steal, then what is it a few days later at $26?

[pawa_k2001]

I am actually looking to buy silver at the $25-$26 level. If it shoots up, great. If it drops, I will buy some more. Unless its a clear sign that it will explode upward, I don't buy more then 10-20 ounces at a time. If this euro crisis turns 2008 on me, I will definitive buy a lot of metals. While we can bet and argue how high the metals should be valued at, we all know that when they are underpriced they will only go up.

[a_riot]

we all know that when they are underpriced they will only go up.

That would imply they are priced below the cost to produce, which in silver's case is ~$4 I believe. I think gold is ~$700 or so. I might buy some gold and silver if prices go back down to those levels.

[pawa_k2001]

That would imply they are priced below the cost to produce, which in silver's case is ~$4 I believe. I think gold is ~$700 or so. I might buy some gold and silver if prices go back down to those levels.

I consider the bottom being where the market lands after a shock like 2008. I highly doubt that the prices will drop to the cost to produce these materials. If that happens, I don't see a reason for those business to be in business which means the rest of the country probably doesn't have a job.

I make my bets that the market can only go so low. If the markets drop to low then I really won't need my cash. My grampfather lived in Russia in 1998 when the market went down and Russia devalued its currency.

[a_riot]

I consider the bottom being where the market lands after a shock like 2008. I highly doubt that the prices will drop to the cost to produce these materials. If that happens, I don't see a reason for those business to be in business which means the rest of the country probably doesn't have a job.

I make my bets that the market can only go so low. If the markets drop to low then I really won't need my cash. My grampfather lived in Russia in 1998 when the market went down and Russia devalued its currency.

If you look at the long term chart for silver, the price has been at or below $5 for 99% of the last 100 years. $5 is the norm not the exception. I consider anything over $5 a bubble.

[pawa_k2001]

If you look at anything with that mentality, then everything is in a bubble. Even cash...

[livingVoice]

If at $28 its a steal, then what is it a few days later at $26?

Investing by trying to predict the absolute bottom or top is foolish.

[a_riot]

Investing by trying to predict the absolute bottom or top is foolish.

Oh? So what's your method? Buying at the top? Silver and gold are crashing again, just like I've been saying. Poor sods like Nezram et al, must be pulling their hair out watching their entire life savings not so slowly dwindle away.

[mauslick]

a-riot you continue to ignore the fact that a lot of people bought their gold years ago and are sitting on double or triple what they paid for it.......

your only address is to the people that bought it above whatever todays spot price is....

remember if it doesn't effect you then it doesn't matter..

5 bucks an hour to your 25.00 an hour in 20 years is fantastic live it up~
keep writing the script for your masters and let them throw you your scraps.............
they obviously are rewarding you for your superiority, generously

hahahahaahhahahahahahahahahaha.........cough cough

and just for the sake of irratation heres some periods for you............................................... .................................................. .................................................. .................................................. .................................................. .................................................. ............................................. and how 'bout the lack of caps use and punctuation.............like that don't you.................

get back over on the KIA page where you belong

[a_riot]

and just for the sake of irratation heres some periods for you............................................... .................................................. .................................................. .................................................. .................................................. .................................................. ............................................. and how 'bout the lack of caps use and punctuation.............like that don't you.................

get back over on the KIA page where you belong

So you freely admit that the entire point of your post is to irritate and annoy Vortex members/contributors? That's likely a good reason to ban you as I don't see your posts having any redeeming value at all.

[pawa_k2001]

Bought some silver on yesterday's dip. Timed it perfectly at the bottom. I do believe it will be going up for the foreseen future. The US and EU economy's has a lot of figuring out to do. I am optimistic that the economy will figure itself out in the future but for that to happen, the government needs to let it correct itself. We can not live on injected money. After ever QE we had a big dip and operation twist isn't helping much. We will see how it works towards the end of the year.


Sent from my iPad using Tapatalk HD

[livingVoice]

Oh? So what's your method? Buying at the top? Silver and gold are crashing again, just like I've been saying. Poor sods like Nezram et al, must be pulling their hair out watching their entire life savings not so slowly dwindle away.

That is a general statement that is not gold or silver specific. I don't invest my money by trying to predict the top or bottom because it is an impossible task. No human being can do that.

[a_riot]

That is a general statement that is not gold or silver specific. I don't invest my money by trying to predict the top or bottom because it is an impossible task. No human being can do that.

I don't understand. Is your investment strategy based on pure luck or random chance? If you can't predict what the market will do with any certainty then you might as well be at the casino.

[livingVoice]

I don't understand. Is your investment strategy based on pure luck or random chance? If you can't predict what the market will do with any certainty then you might as well be at the casino.

Based on your comment, it's clear that you have no clue how to invest. Nobody that I know of has the ability to predict the market, not even Warren Buffet - he even said that himself. If I had a penny every time I hear people like you think he can predict the market, I would be a billionaire by now. Please top posting on this thread. You have an uncanny ability to show off your complete nonsense.

[arric]

bump

['dubber]

Anyone else paying attention lately?

[mauslick]

up, down, up, down, up , down

things might get interesting after the first of the year........then again they might not

got to make it past the 21st

[CDub87]

I invested a bit yesterday and already bummed that it's headed down.
Kind of doubted myself for doing it, but long term i doubt I'll have any issues.

['dubber]

Same as being a day late, but not as bad really.