Silver & Gold

Hmmm I could interject my somewhat pessimistic attitude here like I have in the past but this time I will pass.
So for the OP, precious metals will continue to go up till the collapse of the US dollar.
Now for the outlook, Dew hit on something that I will expand upon briefly.
Folks, don't go out of this life selfishly.
Find a way to help those around you, first your kin then to others that are in need.
The best "treasure" is to help those in need.
Live with less, be satisfied with just the basics.
Don't get caught up with getting the best and most expensive "stuff".
Try to get your debts paid off, you will be in better shape to do some of the above.

Amen.

Caretaker Wrote:
-------------------------------------------------------
> paranoia strikes deep!, Jmaryt, I'm a boyscout,
> I'm just prepared, I hope it never comes, and they
> have been saying it since I was a kid, so I
> learned skills, and didn't waist my time
> collecting money, that they cam take away, a
> stupid statement, I do collect money, but I dig it
> out of the ground, having fun doing it, not
> stressing , working for it


correct attitude,and you are all the better for it!..must not be "afraid"
as you must stand by your convictions,and "learn" to do with less!
it IS in fact, an "event phsychological",and nothing more!.the "mind" is
a most powerful "coping" tool!

(h.h.!)
j.t.

Just an 'easy-to-see' observation

15:1 .....is yesteryear

1500:45 ......is today



or...........said differently

15: .45

((( 15:0.45 )))

OR

15:1 vs 15:0.45


Fifteen-to-one......vs......Fifteen-to-point-four-five

Watch the dollar here, it broke below 74 today, if it drops through 72, the dollar is in big trouble, according to experts. Gold & silver will of course launch big time if this happens.

WASHINGTON (MarketWatch) - The Federal Reserve's Federal Open Market Committee on Wednesday left its key interest rate at an historic low range of 0% to 0.25% and said its $600 billion bond-buying program would end as scheduled on June 30. Inflation has picked up and the Fed now says the economic recovery is proceeding at "a moderate pace," but the central bank still said the inflation pickup will be temporary and the jobs market is still a concern. The decisions were widely expected. The FOMC made only few changes to the language of the policy statement it issued in March and did not give guidance on the outlook of policy after the end of quantitative easing. The FOMC repeated that rates are likely to stay low for an "extended period." The Fed gave itself flexibility by adding that it would "adjust" its holdings of Treasurys and mortgage-backed securities as needed..

With gold and silver taking off to the upside after the Fed released its statement, today King World News interviewed Peter Schiff, Founder of Europacific Capital. When asked about the rise in gold and silver after the Fed statement Schiff replied, “Ben Bernanke may deny that there is a causal relationship between his monetary policy and rising prices but the market knows differently. In fact when Ben Bernanke denies the relationship, then the expectation is that he is going to continue on his current monetary policy course which is the green light to buy gold, buy silver, buy oil, buy commodities, sell the dollar and that’s exactly what’s happening. That’s why the dollar is hitting new lows today.”
April 27, 2011

Schiff continues:





“You could see the dollar begin to fall as soon as the statement was released, and then the fall intensified when he (Bernanke) began opening up his mouth. He’s either lying or he’s incompetent or a combination of both, but neither inspires confidence in our country, our currency or our economy. I mean whenever Ben Bernanke opens his mouth you want to sell anything that is related to the United States.





They said they are going to continue to reinvest their maturing principle back into treasuries, so the Fed said they are basically not going to shrink their balance sheet and that’s inflationary on its own. Who are they kidding? The Fed is going to keep buying bonds because if the Fed doesn’t who else is going to do it? There is nobody who is going to buy them because the rates are too low. So the Fed is just talking, but anybody who understands reality can see through it. And obviously with the gold price soaring and the dollar plunging, a lot of people can see through it.”





When asked about the US dollar specifically Schiff remarked, “I think as early as this fall we could be in a dollar crisis because I expect the dollar to weaken throughout the summer. And if we don’t get a big bounce during the summer when they end QE2, which I don’t think they are going to end it but they might pretend they are ending it, if the market senses that the Fed is still printing money which they will be doing, the dollar I think could go into free fall. That is going to force the Fed’s hand and you are going to have really high interest rates and this economy is going to implode...but we have a phony economy that needs to implode.”





When asked about gold Schiff replied, “I think gold is going to have a big move. I think gold is underpriced right now. I don’t think this is going to be the move that wakes them (the public) up out of their coma, I think that move is coming. It’s going to be a much more spectacular move down the line.”





When asked what it will take to get the gold stocks going Schiff had this to say, “When this market senses that this gold rally is real. The gold bull market is 10 years old, you would think they would figure it out by now but there is more fear than greed in the gold market and you can see that in the mining stocks. So I think we are still early in the gold bull market.”





One things is certain in the gold and silver markets and that is that there is an increase in the violence of the moves. It is important to remember that this is normal, healthy activity during a secular bull market.





king world news

Love the market manipulators. Pump & dump on a daily basis. So easy to to see. Many here are correct though. Silver will hit $100+ per ounce by year's end. Due to the worthless paper our government generates. Although, if one examines the history of this country, it isn't the first time...lol....the GOVERNMENT....tried to foist worthless paper on the public. Except back then, once it was realized, the average citizen forced the gov't to make it right. Not so today. Can we say, Lazy & Careless

What a interesting predicament we are in....with these current times. Now an ounce of silver gives the illusion that it would be GREAT to trade it in for a $50 dollar bill. . . . . . yet, you would be trading a valuable hard asset.......into something that has unstable/questionable value (referring to paper money).

Okay guys I'm not really a smart person when it comes to the finance markets and all the games that are being played. So I'm looking for an answer and some way to make sense of what is happening. I have over 35 years of detecting and been hunting the water before most people even thought of it..Back in 1977 I had a really bad day if I didn't dig more than 12 gold rings a day and the silver money was gathered up in buckets from the old beaches..So now here is my thought----If the dollar is going down the drain ?? why would I even worry about cashing in my stuff as the price of gold and silver continues up??? Seems to me, I'm just may be getting toilet paper money back in return, same as in Viet Nam when they changed the money twice while I was in country, and if you didn't turn it in before hand you had toilet paper the next day...So please help me out to understand what is the way to look at best making my { gold & silver } work for me since I'll be 66 this May 2....and that is my own bank 401 account..... Thanks All LiL John

Here's my take on it, LiL John...

If one is cashing in some silver, in order to get cash dollars that one intends to spend TODAY, on something with VALUE, I'd say for him/her to sell it, and get the dollars -- they facilitiate transactions, and thus are good for spending immediately, but NOT good for holding onto. On the other hand, if one is cashing silver or gold in, simply so that one can say "look, now I have "x" dollars, I'm richer than I was yesterday," that man is a fool, in today's financial environment.

The only way I'd cash anything in for paper right now, is if I was doing something PRODUCTIVE and IMMEDIATE with that paper. Let's say as just one example, that you want to buy a plow, and some seeds, to plant some crops. If you have some silver, you might cash a bit in, to get some paper dollars -- having which would then allow you to easily complete the purchase of the plow and the seeds. You have exchanged "value" (silver) for a quick means (the dollar) to purchase another type of "value" (the plow and seeds), in that scenario. IF however, you have silver, and, due to the "illusion" that it has "appreciated" (in dollars), and you trade it in simply to amass paper dollars, and thus paper "wealth," you have actually exchanged "value" for "NO value" (or, at least, TEMPORARY and steadily DECLINING value). That's my short-story version, and just my opinion of course. My opinion is, if you have your "401K" in precious metal, I would LEAVE IT, cashing it in ONLY when you need to buy something "tangible" of "value." Is there risk? SURE. Could silver and gold plummet in "value" as measured in dollars? It could. Is it any riskier though than selling your metals, and buying stocks, or bonds, or any other investment? NO STINKING WAY in my opinion. Matter of fact, in today's climate, I'd say it's much MORE risky to make those investments/purchases, than the risk inherent in just holding the metal, and cashing in bits of it when you need it.

I would tell my own family the same thing, and I'd convert MY retirement, or at least a good portion, into metals as well, if the tax hit wasn't so big to do so (and if my wife wouldn't lose sleep, thinking I'd lost my mind!)

But above all of this, I will say ONE more thing, and ONLY one more, so as to not offend anyone TOO much who might disagree -- but my deepest-held beliefs say that the Creator of this universe is not at all surprised by what is happening, and reliance in Him for our well-being is MUCH more productive and safe, than ANY earthly type of "protection" -- be it dollars, stocks, bonds, OR metals.

Thanks for suffering my brief sermon!

Steve

Steve.................. ABSOLUTELY EXACTING.


I am SO glad to see other folks DO INDEED have astute/keen awareness of real-world "reality" within the confines of a illusionary distorted/convoluted surreal rich-man's game. ((( I no longer feel 'alone' /// 'on-an-island' ))).

Once again /// one more time: KUDOS Steve!!

Steve, very well said indeed. What you said is the same thing I've been trying to get through to my freinds and family for the past couple years.
Its really bizarre how things change. Back in when US was really starting to use paper currency in the late 1800s people were very suspicious of the paper and many wouldn't trade it for their gold or silver coins.
Now..its completely the opposite.

steveg Wrote:
-------------------------------------------------------
> Here's my take on it, LiL John...
>
> If one is cashing in some silver, in order to get
> cash dollars that one intends to spend TODAY, on
> something with VALUE, I'd say for him/her to sell
> it, and get the dollars -- they facilitiate
> transactions, and thus are good for spending
> immediately, but NOT good for holding onto. On
> the other hand, if one is cashing silver or gold
> in, simply so that one can say "look, now I have
> "x" dollars, I'm richer than I was yesterday,"
> that man is a fool, in today's financial
> environment

>
> The only way I'd cash anything in for paper right
> now, is if I was doing something PRODUCTIVE and
> IMMEDIATE with that paper. Let's say as just one
> example, that you want to buy a plow, and some
> seeds, to plant some crops. If you have some
> silver, you might cash a bit in, to get some paper
> dollars -- having which would then allow you to
> easily complete the purchase of the plow and the
> seeds. You have exchanged "value" (silver) for a
> quick means (the dollar) to purchase another type
> of "value" (the plow and seeds), in that scenario.
> IF however, you have silver, and, due to the
> "illusion" that it has "appreciated" (in dollars),
> and you trade it in simply to amass paper dollars,
> and thus paper "wealth," you have actually
> exchanged "value" for "NO value" (or, at least,
> TEMPORARY and steadily DECLINING value). That's
> my short-story version, and just my opinion of
> course. My opinion is, if you have your "401K" in
> precious metal, I would LEAVE IT, cashing it in
> ONLY when you need to buy something "tangible" of
> "value." Is there risk? SURE. Could silver and
> gold plummet in "value" as measured in dollars?
> It could. Is it any riskier though than selling
> your metals, and buying stocks, or bonds, or any
> other investment? NO STINKING WAY in my opinion.
> Matter of fact, in today's climate, I'd say it's
> much MORE risky to make those
> investments/purchases, than the risk inherent in
> just holding the metal, and cashing in bits of it
> when you need it.
>
> I would tell my own family the same thing, and I'd
> convert MY retirement, or at least a good portion,
> into metals as well, if the tax hit wasn't so big
> to do so (and if my wife wouldn't lose sleep,
> thinking I'd lost my mind!)
>
> But above all of this, I will say ONE more thing,
> and ONLY one more, so as to not offend anyone TOO
> much who might disagree -- but my deepest-held
> beliefs say that the Creator of this universe is
> not at all surprised by what is happening, and
> reliance in Him for our well-being is MUCH more
> productive and safe, than ANY earthly type of
> "protection" -- be it dollars, stocks, bonds, OR
> metals.
>
> Thanks for suffering my brief sermon!
>
> Steve


a lowly widow gave jesus her last "mite"
and was "rich" beyond belief,because jesus,recognizing the most unselfish
gesture by "blessing" her soul,and guaranteeing admission into god,the father's kingdom of
heaven. "for what shall it profit a man,if he will gain the whole world,and lose his own soul?"
book of mark...just sayin!

(h,h,!)
j.t.

Well put Steve. Funny how wampum beads (gold and silver) have value. The market is moving quickly as it comes to consumed goods like food and gas.... save your metals for things like Steve said... immediate needs. Does anyone have any concerns that the government might start calling in gold and silver? Or since our economy is based more on the economy is that no longer a legal option? Should that be a concern since countries like China seem to want to buy these metals in large quantities?

Dew

If there is one thing for sure is that the silver coins we dig up now are definitely worth the dig. I would have never imagined that a silver quarter would be worth almost 8 dollars, but then again the dollar isnt worth a dime so there ya go. Like one poster said maybe we should just keep our silver and hope for the best. Its a shame our country has fallen as far as it has. If it werent for greed we would still be the top nation in the world. But I suppose hoping there isnt going to be greed in our government is like hoping I will win the lottery next week and so much for that. I think the best we can do is hunker in, ride out the storm and hope for the best. Although it would be nice to find several pounds of gold nuggets in a creek. I have never been nugget hunting and there is a creek close by that had a gold mine just up the hill many years ago and the landowner said that I can hit the creek whenever I like. So I think I will give it a go this weekend with the trusty T2 and maybe even a gold pan. Its funny as there are no metal detector sales shops in my area but I can go to a sporting goods store in town and purchase a gold pan as they have sold them there for years. If nothing else at least I will get out for a while and get a bit of exercise, but who knows what may land in the pan if im lucky. Anyway sorry to ramble, hope you fine folks have a great day and best of luck to ya when dirt fishing. happy hunting..

With gold and silver taking off after the Fed statement, today King World News interviewed James Turk out of Spain. When asked about the action Turk stated, “I've just finished reading the Federal Reserve's announcement of its meeting concluded earlier today. I've also scanned some of the excerpts from Bernanke's press conference and Eric, I am struck by the inconsistencies. The precious metals markets must be seeing it the same way I am given the strength in gold and silver after the announcement's release.”

Turk continues:





“On the one hand, the Fed acknowledges higher commodity prices and rising inflation. Yet they go on to say that inflation trends are "subdued" and inflation expectations are "stable" - and those are the exact words they use. I mean, what can they possibly be looking at to reach those conclusions?





Then they say that they will keep interest rates low, but the reality is they need to be raising interest rates to fight the growing inflationary pressures, just like Volcker did when he was Fed chairman thirty years ago.





But here's the biggest inconsistency, the Fed plans to end its $600 billion quantitative easing program on schedule at the end of June. But the federal government continues to run horrendous deficits, forcing it to borrow record amounts of money. Consider this, since the Fed began QE2 last August, the federal government's debt has increased about $900 billion. Over $500 billion of that debt has in effect been borrowed from the Fed, courtesy of the Fed's printing press. Now I ask you, with the federal deficits running at or near record levels, who is going to buy all of the debt the federal government will be issuing after June 30th to fund its never-ending deficits?





Clearly, something has to give. There are only two choices to stop the dollar from the waterfall decline you and I have been talking about and expecting. Either the Fed raises interest rates, or politicians stop spending and it doesn't look like either one of those is about to happen. In fact, looking at the Dollar Index and precious metals markets as we speak, the waterfall decline in the dollar has begun. The Dollar Index has broken below all of its previous lows except for the last one at roughly 71 on the index. When that gives way you could see incredible panic selling ensue.





The bottom line is the market is calling the Fed's bluff. Investors don't believe the Fed will stop its purchases of US government debt on June 30th and for what it is worth, I don't either.”





When asked about gold Turk replied, “Gold is at a new record high, what's there to say? I am a firm believer in the message of the market. In other words, I don't look at cycles, momentum indicators or anything else, instead I look at prices, their trends and underlying fundamentals. The only conclusion to make about gold is that it is heading to my $1800 target and looks like it will get there soon, maybe sooner than the June 30th date I had been anticipating.”





When asked about silver Turk remarked, “Silver got close to its all-time $50 record high when it reached $49.78 on Monday morning in Asia. It is currently still below that price. Therefore, silver has not yet confirmed the new high gold made today. That may mean silver has to build a base here in the high $40s before plowing higher, and let gold lead for awhile. That would not be surprising given that silver has been leading since last summer, as is clear from the drop in the gold/silver ratio. We'll see how long it will take silver to hurdle above $50, but regardless, let's step back from the trees and look at the forest.





The dollar is in trouble and the Federal Reserve has its head buried in the sand. Washington's politicians are spending money they don't have and the federal government's credit rating is being called into question, I could go on, but you get the point. We're at an historic moment. Years from now we will look back and point to 2011 as the moment in time when the flight out of the US dollar accelerated leading to its eventual collapse. A simple and safe way KWN readers can prepare for this catastrophe is to own physical gold and physical silver.”





It is important to understand that your physical gold and silver holdings are insurance against a collapse of the US dollar if you live in the United States. If you live outside of the US it is your insurance against a collapse of your country or regional currency. This is an extremely important time in history because people are slowly losing faith in all fiat money globally. For now simply continue on your monthly accumulation programs and do not try to time these markets.





AS FOR ME, ILL HANG ON TO THE SILVER TIL IT LOOKS LIKE WE ARE NEAR A TOP , TRADE IT IN FOR NEXT TO WORTHLSS FIAT, AND PAY OFF MY FIXED RATE MORTGAGE,

One great study of what may happen here in the recent coming months, is to look back over the last ten years.

Zimbabwe, and Argentina are GREAT examples.



Edited 1 time(s). Last edit at 04/29/2011 12:25AM by TheOtherLeggoHead.

Im going to stay friends with Steve(MS)... especially when he gets in a helping mood LOL> Exon profit.... 11 billion for the 1st quarter.... yet we still buy foreign oil and fuel jumps up and up. Are we just another country thats going to convert to a N. American Euro? The feds might as well raise the interest rate no one can get their hands on that incentive money WE gave to the banks. A good example is ... in Fla 80% of the homes being bought are cash deals. This really makes you think about the statement.... when they pry it from my cold dead fingers.

Dew

"AS FOR ME, ILL HANG ON TO THE SILVER TIL IT LOOKS LIKE WE ARE NEAR A TOP , TRADE IT IN FOR NEXT TO WORTHLSS FIAT, AND PAY OFF MY FIXED RATE MORTGAGE,"

My plans exactly. Another good post possum mo.
Thanks

SAVE IT FOR THE KIDS---SAVE IT FOR THE KIDS!!----They NEED that fancy speed boat!!------Seriously, it depends on your age in making those (long term) plans.-----I could start a "sermon" at this point but instead, I'm just going to say------go with your "gut" feeling----or----"let your conscience be your guide"!------------Del