Silver is still below $16 and to me that is still a bargain. Even if silver drops to its old price of less than $10 an ounce I will continue to buy all the way down. Why? Because I know that it will go up again.
Speaking of silver, the Metals Pimp dropped by the other day and handed me one of these:
Said one of you crazy guys bought some from him and told him to pass a Maple off to me. So, to that kind soul, I say ‘Thank you’! When we come crawling out of the fallout shelters to face the new, currency-less world of the post-apocalypse I’ll have a head start on every one else as I use this to purchase pre-holocaust Twinkies and post-holocaust pole dances.
I know your staying up all night waiting for that xpac to drop…
Youd think, but no. Im kinda losing my interest in WoW. I think if I stay involved Im going to have to join a hardcore raiding guild or something to make it interesting.
Silver is a bargain.
FYI, I’m still getting tons of “server not found” and database errors comin to the site
I know. Yahoo is still spewing about how theyre ‘working on the problem’.
http://www.ysmallbizstatus.com/
what are your reasons that you ‘know it will go up again’?
Well, it can’t get to zero, and on a long enough timeline the dollar will devalue to the point where $16/oz will seem like free. But, mostly, I don’t believe the conomy is going to improve enough to the point where silver/gold loses much more value. Even if it dropped to the old $9/oz. price I would still keep buying because I know that someday all the financial chcikens will come home to roost and greenbacks are gonna look mighty weak.
So, really, I’d say its a ‘felling’ or ‘conviction’ I have rather than a legitimate, quantifiable reason.
Im not an economist by any stretch.. but if I had to take a stab in the dark..
I would say the US is manipulating the price of oil to crash the russian economy. Since Oil prices are low, I would guess investors are cashing out of paper silver and buying oil shares while its low, waiting for the inevitable rise to make a buck on oil. The mass selloff of paper silver causes the price to plummet. My 2 cents.