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Old 10-23-2011, 22:16   #1051
emt1581
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Originally Posted by SilverCity View Post

Wait a bit. We will see prices back in the 40s the first week or two in October.

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Any other theories? This is worse than the drop we saw last time. It bounced back a few points but is not moving anywhere other than fluctuating between 30 and 33.

-Emt1581

Last edited by emt1581; 10-23-2011 at 22:46..
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Old 10-23-2011, 22:44   #1052
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$31.50 is a long way from the 40s
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Old 10-23-2011, 23:39   #1053
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Any other theories? This is worse than the drop we saw last time. It bounced back a few points but is not moving anywhere other than fluctuating between 30 and 33.

-Emt1581
Investors buy and .gov knocks it down. It's a battle for control of the markets. Just have to wait it out...nothing else we can do. There are NO fundamentals in these markets any longer and these price swings in gold and silver will probably get more volatile as world economies grow increasingly unstable. Buy on dips and hold on. Don't attempt to time or trade these markets.

There is no reason in the world for the DOW to be up and metals down. There is not a single solvent bank in the entire U.S. or Eurozone. If they claim they are, they are lying and probably keeping two sets of books. We are a year away from the elections and TPTB are desperate to keep the economy from crashing on Obama's watch.

In the meantime, vote Ron Paul. He understands what they are doing. If he doesn't win, we are in trouble. We will see more and more oppressive .gov intervention in our lives.

Until the American voter wakes up, and runs the current crop of criminals in Washington out of office, things will get much worse. We need to demand accountability from our government...at the point of a gun if need be.

Clean the cosmoline off your weapons and keep those magazines loaded.

Good luck, y'all.

SC
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Last edited by SilverCity; 10-24-2011 at 10:02..
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Old 10-24-2011, 00:16   #1054
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Greece/Europe should be blowing up in Nov. Our debt committee will also be crashing around Thanksgiving. Going to be an interesting month.

I think the recent stock market run up will be short-lived. I predict we''ll easily be down 10% from here to the end of the year.

Last edited by cowboy1964; 10-24-2011 at 00:17..
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Old 10-24-2011, 04:50   #1055
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Ok, we'll wait for those newly mentioned dates. Again, my stance on it is that we and the majority of the rest of the world, just keep BSing our way out of problems and because the people buy into it...it works!

-Emt1581
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Old 10-24-2011, 10:54   #1056
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Where is a good place to buy smaller amounts of silver? I know most places have a minimum. I was only looking to buy 1-2 thousand worth.
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Old 10-24-2011, 12:23   #1057
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Just about anyone will sell small amounts of silver. EBay is a good source because you can usually find free shipping and most dealers want to charge $20+. Also most dealers charge a surcharge for credit cards.

Last edited by cowboy1964; 10-24-2011 at 12:24..
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Old 10-24-2011, 16:00   #1058
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Where is a good place to buy smaller amounts of silver? I know most places have a minimum. I was only looking to buy 1-2 thousand worth.
Locally if possible. Check yellow pages. A major retailer in your area would probably have better prices and supply and you don't have to pay shipping.

Call before you visit.

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Last edited by SilverCity; 10-25-2011 at 10:51..
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Old 10-24-2011, 20:06   #1059
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Where is a good place to buy smaller amounts of silver? I know most places have a minimum. I was only looking to buy 1-2 thousand worth.
You can usually find local coin stores that sell silver eagles. The only problem with buying local is that you will pay sales tax on top of the over spot price.
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Old 10-24-2011, 22:52   #1060
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Thanks for the help everyone!
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Old 10-25-2011, 09:51   #1061
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You can usually find local coin stores that sell silver eagles. The only problem with buying local is that you will pay sales tax on top of the over spot price.
Not always. Many States have no sales tax on bullion and coins (WA for example). And there are some States that have no sales tax at all (OR for example).
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Old 10-25-2011, 10:23   #1062
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Silver is up today, closing in on $33. This buying oppurtunity won't last forever.
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Old 10-25-2011, 10:51   #1063
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Old 10-25-2011, 15:46   #1064
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I'm waiting to see if we break the 34/35 barrier...

Seems like some realization took place today in reaction to Europe or otherwise.

-Emt1581
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Old 10-25-2011, 17:30   #1065
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Where is a good place to buy smaller amounts of silver? I know most places have a minimum. I was only looking to buy 1-2 thousand worth.
Call the people that advertise on Craigslist saying "we buy gold" and ask if they also sell it. Some of them sell it in bulk at just under spot, so they'd be happy to take your cash for spot or a little over.

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I'm waiting to see if we break the 34/35 barrier...
Waiting... for what, exactly?
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Old 10-25-2011, 18:17   #1066
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Not always. Many States have no sales tax on bullion and coins (WA for example). And there are some States that have no sales tax at all (OR for example).
<----is jealous.
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Old 10-25-2011, 18:22   #1067
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Waiting... for what, exactly?
Reality to set in for starters.

-Emt1581
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Old 10-26-2011, 04:13   #1068
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Reality to set in for starters.

-Emt1581
EMT, I owned two of the exact same SUV that I bought a few years ago in 2006. I traded one in January for 11,500 and the other I am selling myself after buying a couple of Jeep Grand Cherokees this week. It has a higher retail and trade value 8 months later.

It gets better because 4 years ago when gas went up, my two SUV's had a trade in value of 8,500 with 10,000 miles on them. So 4 years has gone by and now it has 49,000 miles on it and it's worth more. The same thing has happened to all used cars, there is a shortage of them.

The same thing is in our future for PM's because of the general condition of our paper dollar. There is no bad time to get out of paper and into PM's until they pull the rug out from under the dollar and replace it (this is what normally happens to countries who do what we are doing). PM's are going to go up over the next few years and you can make a couple of bucks if you are willing to take a step out of your comfort zone.
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Old 10-26-2011, 10:55   #1069
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EMT, I owned two of the exact same SUV that I bought a few years ago in 2006. I traded one in January for 11,500 and the other I am selling myself after buying a couple of Jeep Grand Cherokees this week. It has a higher retail and trade value 8 months later.

It gets better because 4 years ago when gas went up, my two SUV's had a trade in value of 8,500 with 10,000 miles on them. So 4 years has gone by and now it has 49,000 miles on it and it's worth more. The same thing has happened to all used cars, there is a shortage of them.

The same thing is in our future for PM's because of the general condition of our paper dollar. There is no bad time to get out of paper and into PM's until they pull the rug out from under the dollar and replace it (this is what normally happens to countries who do what we are doing). PM's are going to go up over the next few years and you can make a couple of bucks if you are willing to take a step out of your comfort zone.
I don't see this happening anytime soon.

Now, the Euro may be a different story.
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Old 10-26-2011, 13:21   #1070
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Any other theories? This is worse than the drop we saw last time. It bounced back a few points but is not moving anywhere other than fluctuating between 30 and 33.

-Emt1581

Hi EMT,

Yes. The scuttlebutt on the street is that this drop was initiated by two major factors.

The first was another increasing in margin requirements. This mostly effects speculators.

And the second was that a large enough number of funds and traders needed to sell metals, which were making a profit, to cover their other investments, which were losing money.

The metals market is not very big, so the volatility can be gut-wrenching. A 25% loss is not uncommon.

Enjoy or drink lots of Maalox.
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Old 10-27-2011, 08:15   #1071
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Silver is up today (more than 2%) while gold is slightly down. I think it's based on economic outlook improvement (industrial demand for silver).

Dow is back over 12,000, so it's up like 15% this month alone. Nuts.
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Old 10-27-2011, 09:35   #1072
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US Dollar @75.18 -1.27

SC
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Last edited by SilverCity; 10-27-2011 at 10:44..
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Old 10-27-2011, 10:06   #1073
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Yeah, dollar is not having a good day. Gold is way over $1700 once again, silver is pushing $35, and the Dow blew through 12,000.

Still trying to figure out why the Yen stays so strong given their decades-old stagnant economy and massive government debt.

I liked it better when the Dow was down 4% one day, up 4% the next. I can't make good day trades when it's just up up up.

Last edited by cowboy1964; 10-27-2011 at 10:07..
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Old 10-27-2011, 15:19   #1074
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It's out of historical character for precious metals to "go with the follow". This movement has been blamed, by better persons than me, on the newer paper exchanges in metals, like ETFs.

The market rewards the diligent... know the fundamentals of what you are investing in.
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Old 10-27-2011, 16:28   #1075
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China, India, Russia, central banks all buy physical gold, not ETFs.

The markets are irrational. Fundamentals? People are buying gold.

SC
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