Woo hoo Silver smack down

[smoothie]

World did not end so all those who bought silver for trade in a post-end-of-world scenario (yes, I know) are selling.

and people who were holding back from buying bitcoin because of the world ending is now buying? 

can you shove silver down a wire?

Copper is the wire and silver is part of the circuitry you send bitcoins. LOL

[n8rwJeTt8TrrLKPa55eU]

Still has a long way to go to match previous bottoms:

http://snalaska.com/cot/current/charts/SI.png

[SaltySpitoon]

I myself am a huge silver bug as well. In the long term, you can't possibly lose on silver. If you are looking to sell within a month, you might lose a few bucks, but supply is dwindling, the world's mineable silver is running out, and demand is on the rise. If you have noticed the prices of silver coins, you will have seen that spot price is now irrelevant for the most part. Its all up to what people are willing to pay. Months ago when I started buying in at around $20 per ounce, the standard government bullion was, $2-$3 over spot or so (American silver eagles, Canadian Maples, Austrian Philharmonics) and generics could be found for less. Now you are lucky to find those coins for $5 over spot.

"It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, that figure has fallen to about 300 million ounces of above-ground, refined silver. This means that at current prices, it would only take about four billion dollars to purchase all of the above-ground silver in the world today." - Monex

http://www.cmi-gold-silver.com/monetarydigests/buy-silver-ounces/ - Warren Buffet buys 130 million ounces of silver

[S3052]

I myself am a huge silver bug as well. In the long term, you can't possibly lose on silver. If you are looking to sell within a month, you might lose a few bucks, but supply is dwindling, the world's mineable silver is running out, and demand is on the rise. If you have noticed the prices of silver coins, you will have seen that spot price is now irrelevant for the most part. Its all up to what people are willing to pay. Months ago when I started buying in at around $20 per ounce, the standard government bullion was, $2-$3 over spot or so (American silver eagles, Canadian Maples, Austrian Philharmonics) and generics could be found for less. Now you are lucky to find those coins for $5 over spot.

"It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, that figure has fallen to about 300 million ounces of above-ground, refined silver. This means that at current prices, it would only take about four billion dollars to purchase all of the above-ground silver in the world today." - Monex

http://www.cmi-gold-silver.com/monetarydigests/buy-silver-ounces/ - Warren Buffet buys 130 million ounces of silver

this is exactly my point. price development lead fundamentals, not the opposite. warren buffet will probably dump his silver  soon, if he is as smart as he thinks. once 26 $ breaks down we will see  a nice crash of both, physical and paper silver

[ElectricMucus]

I myself am a huge silver bug as well. In the long term, you can't possibly lose on silver. If you are looking to sell within a month, you might lose a few bucks, but supply is dwindling, the world's mineable silver is running out, and demand is on the rise. If you have noticed the prices of silver coins, you will have seen that spot price is now irrelevant for the most part. Its all up to what people are willing to pay. Months ago when I started buying in at around $20 per ounce, the standard government bullion was, $2-$3 over spot or so (American silver eagles, Canadian Maples, Austrian Philharmonics) and generics could be found for less. Now you are lucky to find those coins for $5 over spot.

"It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, that figure has fallen to about 300 million ounces of above-ground, refined silver. This means that at current prices, it would only take about four billion dollars to purchase all of the above-ground silver in the world today." - Monex

http://www.cmi-gold-silver.com/monetarydigests/buy-silver-ounces/ - Warren Buffet buys 130 million ounces of silver

this is exactly my point. price development lead fundamentals, not the opposite. warren buffet will probably dump his silver  soon, if he is as smart as he thinks. once 26 $ breaks down we will see  a nice crash of both, physical and paper silver

Make sure to contact Buffet with your "advice", otherwise that drop "below 26" to 10 might not happen.

[Anon136]

as predicted in my newsletter, Silver is going down (my subscribers can confirm this)
But this is not the end.. there is much more downside once a key support level will be broken.

I'm so glad i never bought gold or silver. Let the bubble POP!

maybe in a few years I'll buy some metal?

in order for silver to be in a bubble more than 1-3% of the worlds population would need to hold it as a financial asset =P. When you look at it in this light imagine what the price would do if there were an actual bubble i.e. if as many people held silver as a financial asset in the future as they do sovereign bonds right now (a real bubble).

Despite the fact that silver is not a bubble it is still entirely possible to see more downside in the future but i have to say if we see 26 dollars/oz you better jump on it or you will be kicking yourself for the rest of your life.

[cypherdoc]

how many of you have tried to transport all of your silver across town esp. if you hold a "large" amount of it?  everyone here knows when i liquidated all my junk silver early last year i almost broke my back lugging bag after bag after bag over to the local coin dealer.  and i was above the average hoarder of silver at the time.  

but here's the point.  i was still just one guy who would need silver to transact if silver ever reverted to it's real money status.  it's not possible for silver or any metal to flow fast enough or far enough or often enough to fill the huge debt hole we've created for ourselves worldwide.  the worldwide economy would still collapse.

[smoothie]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

[S3052]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

[adamstgBit]

how many of you have tried to transport all of your silver across town esp. if you hold a "large" amount of it?  everyone here knows when i liquidated all my junk silver early last year i almost broke my back lugging bag after bag after bag over to the local coin dealer.  and i was above the average hoarder of silver at the time. 

but here's the point.  i was still just one guy who would need silver to transact if silver ever reverted to it's real money status.  it's not possible for silver or any metal to flow fast enough or far enough or often enough to fill the huge debt hole we've created for ourselves worldwide.  the worldwide economy would still collapse.

2020! the end of the world as we know it! or 2013 

Lol!

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

silver is not money, its was and attractive commodity and it still is attractive but bitcoin, brass, copper, Good FOOD  , are all very attractive commodities as well
bitcoin is much closer to money then silver could ever hope to be; this is why 2 pizza sold for how many bitcoins  
but silver is amazing non the less, there for it has ALOT of value.  

[smoothie]

Adam define money...

Or let us agree to disagree. I'm not taking anything away from bitcoin if you read carefully. Only concerning certain cheerleaders of bitcoin that cry when you attempt to mention a bearish price scenario lol.

[adamstgBit]

Adam define money...

Or let us agree to disagree. I'm not taking anything away from bitcoin if you read carefully. Only concerning certain cheerleaders of bitcoin that cry when you attempt to mention a bearish price scenario lol.

i guess you are right by my definition silver is money as well.

but i like bitcoin better as money,
because i really can get anything
i want, at fair price. it really is easy
and painless to make payments and
its not PalPay Dollars, its a commodity

its bitcoin!

[ElectricMucus]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Ok lets come up with some stakes: If you loose you would have to stop highlighting your posts in blue color. I'm open for suggestions on what the counter stake should be.

[adamstgBit]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Ok lets come up with some stakes: If you loose you would have to stop highlighting your posts in blue color. I'm open for suggestions on what the counter stake should be.

bitcoin


i'd like to short sivler with bitcoin too

[ElectricMucus]

I was thinking more of a symbolic gesture. But since you offered it to smoothie how about you stop highlighting in blue and he in bold and large.
Actually I would prefer if you both stop doing that. 

[adamstgBit]

no one really cares, i actually kinda like hes always blue, i know who it is.

[cypherdoc]

Adam define money...

Or let us agree to disagree. I'm not taking anything away from bitcoin if you read carefully. Only concerning certain cheerleaders of bitcoin that cry when you attempt to mention a bearish price scenario lol.

that'd be an example of #5.

[smoothie]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Please define physical silver price. Also we are talking $10 USD?

I'm also talking about 1 oz 999 fine silver bullion coins or bars.

What do you propose we bet?

Also we are talking about US dollars as they exist today. Not some modification of the US dollar by being backed by something later or some new version of the dollar after an economic collapse. Just to be clear.

[adamstgBit]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Please define physical silver price. Also we are talking $10 USD?

I'm also talking about 1 oz 999 fine silver bullion coins or bars.

What do you propose we bet?

i really would like to short a few bitcoins with silver with a three year time frame...


smoothie, wana write up a futures contact?
3 years I'll buy wtv 10BTC can buy of silver.

k?  

[smoothie]

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Please define physical silver price. Also we are talking $10 USD?

I'm also talking about 1 oz 999 fine silver bullion coins or bars.

What do you propose we bet?

i really would like to short a few bitcoins with silver with a three year time frame...


smoothie, wana write up a futures contact?
3 years I'll buy wtv 10BTC can buy of silver.

k?  

Lol how about you also make a bet as well and that is a little less bias. Ok?Your bet suggestion only benefits you. If bitcoins go down in value that does not benefit me. Rethink your proposal and let me know. Thanks