Silver?
#1
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Silver?
Anyone else see value in this at the current spot? I'm thinking $30 is entirely possible in the next couple of months so it's looking cheap at $17.
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Production up 1% on last year, demand is still good despite higher commodity prices. In March it hit $21 an oz, but didn't stay there for long. I think the current prices is about right and can't see much movement either way, short term anyway.
All IMHO.
All IMHO.
#3
Silver is difficult to trade, it doesn't follow the normal rules.
There's supposed to be a cartel keeping to price down - just a few traders hold a third of all silver contracts in New York. There are rumours that this could unwind.
There's supposed to be a cartel keeping to price down - just a few traders hold a third of all silver contracts in New York. There are rumours that this could unwind.
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I think the short selling of silver is looking like it's going to have to come to an end short to mid term which is why I'm going to take a punt on it.
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You can either buy physical metal and keep it under the floorboard (or a vault) which is really only viable for small value amounts due to it's bulk (silver). Or go for 'paper' metal which relies on a third party to get their hands on it when it comes time to trade.
As I'm talking about investing 10 grand or thereabouts I'll be going the paper route because vault costs aren't worthwhile for a relatively inexpensive metal like silver.
Of course it's a good idea to keep a stock of gold and silver coins for use in 'disaster' situations when your paper money could become worthless ie like the great depression. A couple of months wages in krugerrands and some silver coins aren't going to take up much space and could be the difference between your family starving or being in a position to laugh at the misfortune of others on a full stomach.
As for DCI's comments they don't make any sense but that's hardly surprising is it?
As I'm talking about investing 10 grand or thereabouts I'll be going the paper route because vault costs aren't worthwhile for a relatively inexpensive metal like silver.
Of course it's a good idea to keep a stock of gold and silver coins for use in 'disaster' situations when your paper money could become worthless ie like the great depression. A couple of months wages in krugerrands and some silver coins aren't going to take up much space and could be the difference between your family starving or being in a position to laugh at the misfortune of others on a full stomach.
As for DCI's comments they don't make any sense but that's hardly surprising is it?
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#8
Do they take Krugerands at Netto ?
My family wont starve, they will just have to start eating whats in the freezer, the more esoteric canned goods in the cupboard and breakfast cereal that hasnt been dipped in sugar.
My family wont starve, they will just have to start eating whats in the freezer, the more esoteric canned goods in the cupboard and breakfast cereal that hasnt been dipped in sugar.
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I don't believe this will be an issue with the sort of investment I'm looking at as I'll sell within a relatively short period of time. Certainly before any great economic crisis. In the unlikely event that the worst happens I'm only investing a very small amount of money that I'm quite happy to lose. I've bet more at the craps table for fun.
I'll then be putting any profit into yet more gold coins and some more 12 guage ammo.
I hope you've got food reserves for a few months J4CKO or in a crisis you'll have to get out on the street and sell your ***!
Last edited by NACRO; 30 June 2008 at 12:18 PM.
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.......because I already have enough exposure there. I'm getting into the idea of hedging my capital where I can to prepare for the upcoming disaster.
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We need answers dammit!
#14
Hope not as I am really quite keen on food.
It always amazes me how you refer to money and how it gets you banned, I personally dont get hot under the collar about it like some but I was considering what my net worth would need to be before I could consider the possibility of loosing 10 grand for fun, I think its of the order of seven million before I could justify that to myself and about three times that if I had to justify it to the wife
What actually do you do to be worth several million pounds, and whats the motivation to tell us poor plebs all about it ?
Would be Infractors, can you hold of for more than 10 mine kthxbai.
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Meteorite? Don't be obtuse.
The threat is very real and comes from cosmic rays. I'll be using the silver and gold to fashion a helmet that will deflect the harmful radiation onto plebs who can't afford one.
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NACRO, I doubt that would raise much, apart from laughter, anyway, in your post apocalyptic view of the current economic situation and how it will pan out, surely money will become worthless ? I suspect that things will get worse but I cant really see the whole food supply shutting down just yet.
Hope not as I am really quite keen on food.
It always amazes me how you refer to money and how it gets you banned, I personally dont get hot under the collar about it like some but I was considering what my net worth would need to be before I could consider the possibility of loosing 10 grand for fun, I think its of the order of seven million before I could justify that to myself and about three times that if I had to justify it to the wife
What actually do you do to be worth several million pounds, and whats the motivation to tell us poor plebs all about it ?
Would be Infractors, can you hold of for more than 10 mine kthxbai.
Hope not as I am really quite keen on food.
It always amazes me how you refer to money and how it gets you banned, I personally dont get hot under the collar about it like some but I was considering what my net worth would need to be before I could consider the possibility of loosing 10 grand for fun, I think its of the order of seven million before I could justify that to myself and about three times that if I had to justify it to the wife
What actually do you do to be worth several million pounds, and whats the motivation to tell us poor plebs all about it ?
Would be Infractors, can you hold of for more than 10 mine kthxbai.
One way to protect yourself from this is to hold real assets rather than pieces of paper that have no intrinsic value. Certainly it seems prudent to me to have several months wages in easily negotiable form. Gold coins seem ideal, particularly when you consider that if you bought them some years ago they are now worth easily double what you paid for them. Silver coins also look like offering real value to me, a one ounce coin costing around a tenner could buy you a loaf of bread, hunk of meat or intimate access to someone's wife for a few hours in an economic meltdown.
As to what I do, I'm a self employed consultant in the exploration and production industry (oil and gas). It's a boom time for us at the moment which is great considering everything else seems to be having such a hard time
I'm not worth 'several million pounds' sadly although on paper I suppose I'm doing better than most on here. Gambling 10 grand is no great shakes, there are idiots out there who've gambled hundreds of thousands of borrowed pounds on buying poxy little houses in armpit towns around the UK who barely earn enough to pay their fake tan and tit job bills.........
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#20
Nacro, where isn't a provincial armpit town ?
I need to know, is Wilmslow, Cheshire a Provincial Armpit? I like to think if it more as a slightly pretentious Groin rather than an Armpit, Alderley Edge next door is a well to do Buttock Cleft. Whats the sweaty bit under a right boob called, as thats where j4ckos mate lives.
I need to know, is Wilmslow, Cheshire a Provincial Armpit? I like to think if it more as a slightly pretentious Groin rather than an Armpit, Alderley Edge next door is a well to do Buttock Cleft. Whats the sweaty bit under a right boob called, as thats where j4ckos mate lives.
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Nacro, where isn't a provincial armpit town ?
I need to know, is Wilmslow, Cheshire a Provincial Armpit? I like to think if it more as a slightly pretentious Groin rather than an Armpit, Alderley Edge next door is a well to do Buttock Cleft. Whats the sweaty bit under a right boob called, as thats where j4ckos mate lives.
I need to know, is Wilmslow, Cheshire a Provincial Armpit? I like to think if it more as a slightly pretentious Groin rather than an Armpit, Alderley Edge next door is a well to do Buttock Cleft. Whats the sweaty bit under a right boob called, as thats where j4ckos mate lives.
edit to add:
UK towns that get the NACRO seal of approval for not being dour little crapholes with no entertainment value or anything of interest. Not in order BTW or by any means complete.
1.Parts of London 2.Brighton 3.Edinburgh 4.Cardiff 5.Bath 6.Manchester.
examples of prime armpit areas although on reflection some of them are more like arseholes than armpits.
1.Any town with a dominating military presence ie Aldershot
2.The midlands
3.Anywhere obviously 'crap' ie Langley, reading, swindon, milton keynes, northampton (obviously you can add a lot of towns here and I haven't got time to add them all)
Maybe scoobynet should have a 'crap town wall' like Top Gear's 'cool wall'?
Last edited by NACRO; 30 June 2008 at 01:13 PM.
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I wouldn't gamble that sort of capital. I do find it great fun to use a bit of pin money to speculate on things like silver though. I'm finding it much more entertaining and lucrative than on-line gaming.
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At least it's only 10K so like you say if you do lose (and it will only ever be a percentage of the investment) it doesn't really matter that much.... so I fail to see where the "fun" is as if there is no risk there's little fun... IMHO of course
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I used to trade much more than that on a daily basis, now that was fun. Admittedly it was always the same money but with the winning percentage creamed off.
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A little like playing odds bets at craps, statistically you aren't ever going to lose your bankroll but when you get a hot table, come away with a few thousand$$$ in profit it's great to throw the money and a naked woman down on the bed and indulge yourself.
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You've never actually spoken to any of them then but just used the regional accent as a pointer?