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Old 04-08-2011, 12:05   #451
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Originally Posted by maddawg918 View Post
I do believe I am gonna take some profits very soon, enough to recoup my initial outlay for all of it.
I would wait until summer with QE3 coming in June.
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Old 04-08-2011, 19:02   #452
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Well I bought another 25oz. today and it is ALL brand name stuff (JM, Pan American/NWT, Engelhard, Maple Leafs, kookaburras). Get this...all of them were a buck over spot and all are in sealed plastic/cases!!

I've bought at 18, 26, and now 41.... I wonder how high it'll be next time...

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Old 04-08-2011, 19:05   #453
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I haven't bought since $14, although I did receive 4 silver eagles as gifts over Christmas
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Old 04-09-2011, 12:22   #454
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I haven't bought since $14, although I did receive 4 silver eagles as gifts over Christmas

I have sold and traded some in recent weeks. Now I think I will sit back and enjoy the ride. THIS is fun.
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Old 04-09-2011, 20:42   #455
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http://www.youtube.com/watch?v=Gl47z...eature=related

I'm not sure if we've talked about this series or not but please share your thoughts on what they're saying...

Thanks

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Old 04-09-2011, 20:47   #456
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Now Silver has doubled a few times in the last 2-3 years. How many more times can it double before the US population: 1) Realizes the USD is not backed by anything or really worth anything, 2) Abandons the USD, and 3) Returns to using only PM's? ... and does it really happen that way or do we are a country just fall into infinite denial?

I'm thinking even a currency switch, backed by nothing, will be futile. If people wake up and realize that non-backed paper is worthless, why would it matter what is printed on that paper?

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Old 04-09-2011, 20:51   #457
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Now Silver has doubled a few times in the last 2-3 years. How many more times can it double before the US population: 1) Realizes the USD is not backed by anything or really worth anything, 2) Abandons the USD, and 3) Returns to using only PM's? ... and does it really happen that way or do we are a country just fall into infinite denial?

I'm thinking even a currency switch, backed by nothing, will be futile. If people wake up and realize that non-backed paper is worthless, why would it matter what is printed on that paper?

-Emt1581
Fairly tale land.
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Old 04-09-2011, 20:53   #458
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Fairly tale land.
So then we as a country/globe remain in infinite denial?

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Old 04-09-2011, 20:55   #459
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So then we as a country/globe remain in infinite denial?

-Emt1581
Those are the choices? Infinite denial or the US population abandoning the USD and going back to all precious metals?

Interesting.
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Old 04-09-2011, 21:01   #460
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Those are the choices? Infinite denial or the US population abandoning the USD and going back to all precious metals?

Interesting.
Of course not. As I always ask...please share your thoughts on the situation.

EDIT: However, if we're not ignoring the fact that the USD is good for paper but that's about it, what happens when we acknowledge it?

-Emt1581

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Old 04-09-2011, 21:16   #461
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Of course not. As I always ask...please share your thoughts on the situation.

EDIT: However, if we're not ignoring the fact that the USD is good for paper but that's about it, what happens when we acknowledge it?

-Emt1581
I'll take some of that paper off your hands, if you don't mind. I'll even pay for shipping.

Cash is still king.

Just don't hold it too long or it turns into a viceroy in short order.
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Old 04-09-2011, 21:27   #462
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I'll take some of that paper off your hands, if you don't mind. I'll even pay for shipping.

Cash is still king.

Just don't hold it too long or it turns into a viceroy in short order.
Ahh...but right now this worthless paper has not been recognized as such by the masses. But if it is actually worth something... other than the masses faith that it is...how is it backed as anything more than paper?

Right now, this worthless paper will get me goods and services such as PM's. Interestingly enough, what I bought 1oz of Silver for yesterday could have bought me 2oz. last year and 3oz. the year before.

In terms of your viceroy statement...are you implying you think there will be a currency swap?

Now back to the original set of questions you replied with the fairy land comment to...what are you thinking?...Anyone else please feel free to share your thoughts as well!

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Old 04-09-2011, 21:53   #463
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Now back to the original set of questions you replied with the fairy land comment to...what are you thinking?...Anyone else please feel free to share your thoughts as well!

-Emt1581
I am simply thinking that the US population won't be voluntarily dumping the USD to "return to only using PMs". Actually, come to think of it, in order to go back to something it had to be done before. When did the US population use only PMs?
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Old 04-09-2011, 22:05   #464
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I am simply thinking that the US population won't be voluntarily dumping the USD to "return to only using PMs". Actually, come to think of it, in order to go back to something it had to be done before. When did the US population use only PMs?
Poor wording choice on my part. But the founding fathers were strongly against the idea.

I goggled it for some supporting evidence and came up with article I.10.1 "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

But ok...I understand what you are saying...the US population won't dump the USD. So what are the possibilities then as you see it? Does Silver just keep going exponentially? Do we still cling to the dollar for dear life but start printing out trillion dollar bills like Zimbabwe?

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Old 04-10-2011, 09:52   #465
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Poor wording choice on my part. But the founding fathers were strongly against the idea.

I goggled it for some supporting evidence and came up with article I.10.1 "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

But ok...I understand what you are saying...the US population won't dump the USD. So what are the possibilities then as you see it? Does Silver just keep going exponentially? Do we still cling to the dollar for dear life but start printing out trillion dollar bills like Zimbabwe?

-Emt1581
Exponentially? You may want to research that word before using it.
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Old 04-10-2011, 10:19   #466
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Exponentially? You may want to research that word before using it.
World English Dictionary
exponential (ˌɛkspəʊˈnɛnʃəl) [Click for IPA pronunciation guide]

adj
1. maths (of a function, curve, series, or equation) of, containing, or involving one or more numbers or quantities raised to an exponent, esp e x
2. maths exp raised to the power of e, the base of natural logarithms
3. of or involving an exponent or exponents
4. informal very rapid

Maybe you should.
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Old 04-10-2011, 10:29   #467
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World English Dictionary
exponential (ˌɛkspəʊˈnɛnʃəl) [Click for IPA pronunciation guide]

— adj
1. maths (of a function, curve, series, or equation) of, containing, or involving one or more numbers or quantities raised to an exponent, esp e x
2. maths exp raised to the power of e, the base of natural logarithms
3. of or involving an exponent or exponents
4. informal very rapid

Maybe you should.
In the case of #4 it is a purely subjective term. And note that that is #4, and is 'informal'. #1, and #2, and #3 are much more like it.

In order to apply the smallest whole number exponent to a $41/oz price...that being a square...you would have to go back to when silver was $6.40. 7 years ago? Still remarkable.
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Old 04-10-2011, 12:12   #468
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emt,

If, and it's a big if, the USD keeps inflating, and keeps inflating, and keeps . . . At some point yes, the dollar would become worthless. When it is actually worth zero, then yes, people will use PMs. They'll trade, barter, steal, try to do what it takes to survive.

By the time it hits zero this would be a very different country. This is true with every country that this has happened to. Don't you read? It's happening right now in Zimbawbre (sp).

I could be wrong, but I don't think there's a country that has ever experienced their currency becoming worth zero that that fact didn't destroy it, at least it's government.

Doesn't mean that the dollar will hit zero, it may, it may not. No one knows, doesn't mean we're in denial, just means we don't know.

You should read some history. It's interesting stuff and you can learn alot.


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Old 04-10-2011, 14:02   #469
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Think the US citizens will hold dollars forever? Not if they are smart. It is foolish to hold onto devaluing currency out of a misguided sense of patriotism. We will more than likely see a global currency before all this is done...If you remain in dollars you will lose.

********************************************************************************
Chinese criticism of the Federal Reserve for flooding the world with money may get little traction among Group of 20 finance chiefs meeting in China as Europe's debt crisis and Japan's disaster take precedence. U.S. Treasury Secretary Timothy F. Geithner, French President Nicolas Sarkozy, Chinese Vice Premier Wang Qishan and European Central Bank President Jean-Claude Trichet will gather in Nanjing for a one-day seminar on the international monetary system tomorrow. A Chinese state economist called for an end to the dollar's dominance in a paper posted on a website yesterday, blaming the U.S. for fueling inflation. – Bloomberg

Dominant Social Theme: Things are bad all over. With so much going on in the world, it's time for everybody to pull together and come up with a global solution. The world is inter-dependent after all. It is because we say it is.

Free-Market Analysis: The outlines of the drive toward a global currency are becoming clearer in our view. We're continually surprised by how fast events are moving and how orchestrated they seem if you follow them closely. We've already reported on the International Monetary Funds' efforts at placing SDRs front-and-center as a workable global currency. Then recently we covered George Soros' drive to set up a new Bretton Woods-style international conference to agitate for one-world money. And now the G20 is making positive noises, as we can see from this article excerpted above. You can see two previous articles on this topic here:

IMF Predicts New World Order
Is Soros One World Currency a Leftist Plot?

More: http://www.thedailybell.com/1957/G20...-Currency.html

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Old 04-10-2011, 14:04   #470
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A world currency?

I really don't see that in the cards. But I don't really know enough to say, either.
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Old 04-10-2011, 14:20   #471
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Think the US citizens will hold dollars forever? Not if they are smart. It is foolish to hold onto devaluing currency out of a misguided sense of patriotism. We will more than likely see a global currency before all this is done...If you remain in dollars you will lose.

********************************************************************************
Chinese criticism of the Federal Reserve for flooding the world with money may get little traction among Group of 20 finance chiefs meeting in China as Europe's debt crisis and Japan's disaster take precedence. U.S. Treasury Secretary Timothy F. Geithner, French President Nicolas Sarkozy, Chinese Vice Premier Wang Qishan and European Central Bank President Jean-Claude Trichet will gather in Nanjing for a one-day seminar on the international monetary system tomorrow. A Chinese state economist called for an end to the dollar's dominance in a paper posted on a website yesterday, blaming the U.S. for fueling inflation. Bloomberg

Dominant Social Theme: Things are bad all over. With so much going on in the world, it's time for everybody to pull together and come up with a global solution. The world is inter-dependent after all. It is because we say it is.

Free-Market Analysis: The outlines of the drive toward a global currency are becoming clearer in our view. We're continually surprised by how fast events are moving and how orchestrated they seem if you follow them closely. We've already reported on the International Monetary Funds' efforts at placing SDRs front-and-center as a workable global currency. Then recently we covered George Soros' drive to set up a new Bretton Woods-style international conference to agitate for one-world money. And now the G20 is making positive noises, as we can see from this article excerpted above. You can see two previous articles on this topic here:

IMF Predicts New World Order
Is Soros One World Currency a Leftist Plot?

More: http://www.thedailybell.com/1957/G20...-Currency.html

I have been selling, and trading, a bit of silver lately. People are going CRAZY for it. The old adage is coming back to me that "When everyone starts to buy that's the time to sell." Only problem is I don't think anything is worth buying other than food, and ammo. I may just start paying down my mortgage.
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Old 04-10-2011, 15:04   #472
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emt,

If, and it's a big if, the USD keeps inflating, and keeps inflating, and keeps . . . At some point yes, the dollar would become worthless. When it is actually worth zero, then yes, people will use PMs. They'll trade, barter, steal, try to do what it takes to survive.

By the time it hits zero this would be a very different country. This is true with every country that this has happened to. Don't you read? It's happening right now in Zimbawbre (sp).

I could be wrong, but I don't think there's a country that has ever experienced their currency becoming worth zero that that fact didn't destroy it, at least it's government.

Doesn't mean that the dollar will hit zero, it may, it may not. No one knows, doesn't mean we're in denial, just means we don't know.

You should read some history. It's interesting stuff and you can learn alot.


Cat
My questions were in reference to the economy, not the state of the country.

And in terms of history maybe YOU should read up. The USD is nothing more than a piece of paper with some security measures added to prevent copying. That's it....today. However, HISTORICALLY (a few decades ago) it was backed by PM's, Gold and Silver specifically. Again, not the case today. We are absolutely in denial or maybe just that ignorant that our currency is not backed by anything. Sort of like an insurance policy that doesn't pay anything out.

The only reason it can buy goods and services is because we as citizens/species have "faith" in the dollar. No backing system or anything. But these back and forthings typically turn into debates of semantics very quickly so I'll leave it at that.

-Emt1581
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Old 04-10-2011, 15:06   #473
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In terms of a global currency... isn't gold and silver (PM's) a global currency of sorts? I mean it's pretty much accepted in every country, but typically you need to trade it for currency of whatever country you are in. Sometimes the middle man is not even needed.

-Emt1581
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Old 04-10-2011, 15:07   #474
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Poor wording choice on my part. But the founding fathers were strongly against the idea.

I goggled it for some supporting evidence and came up with article I.10.1 "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

But ok...I understand what you are saying...the US population won't dump the USD. So what are the possibilities then as you see it? Does Silver just keep going exponentially? Do we still cling to the dollar for dear life but start printing out trillion dollar bills like Zimbabwe?

-Emt1581
Two things EMT, bills of credit are what they called cash when the constitution was written. They were proposed and soundly defeated at the constitutional convention. Money as we know it did not did not come into use until Lincoln while shredding the constitution decided that cash would be nice to have too. Before that paper money was issued by banks and gold and silver ruled.

I like what happened in Argentina for our future. There dollar was tied to the U.S. dollar until the pressure to print money was to great and so they decoupled from the U.S. dollar and started their printing presses. When they got to 100 to 1 U.S. dollar or so the game was over so they issued a new currency and tied it to the Euro. Essentially people got to keep about 1% of there money.

We are on that road as I see it.
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Old 04-10-2011, 15:11   #475
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In the case of #4 it is a purely subjective term. And note that that is #4, and is 'informal'. #1, and #2, and #3 are much more like it.

In order to apply the smallest whole number exponent to a $41/oz price...that being a square...you would have to go back to when silver was $6.40. 7 years ago? Still remarkable.
Again, you are getting hung up on word usage instead of the point/meaning behind the words. What's that saying about trees and forests?

It's ok to pick apart thoughts and ideas, but please share some of your own. Paint some pictures of what YOUR opinion is.

-Emt1581
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