Market Predictions. Ignorance on Display

Off Topic Politics & World Issues
281

[quote]JoeGood wrote:

[quote]John S. wrote:
Gold is money, this paper shit is over. Gold is the only safe bet, if you measure it in dollars then yes it goes up and down, but what Gold can buy has remained stable. Hence why it is money.

Europe is imploding, all this “bailout” does is devalue our currency even more. Perhaps this would be a great time to start reading into austrian economics.

Prices don’t go up in deflation like we are seeing now.

I have said before in other threads that we would see the collapse happen this year, and it has started. But hey if you want listen to the talking heads on CNBC and invest your money in Europe I hear its a great buying opportunity.[/quote]

What exactly, in specific numbers, do you consider the “collapse” and how far of a fall is going to occur before you feel you will have been right? In specific benchmarks please.

This last bit really isn’t meant to be personal but its going to sound like it, sorry.

You bought shares in the worst run silver mining company, not because you did a lot of research and decided that something was going to change, but because a friends broker reccommended it. If thats your investment logic I suggest you might not want to be giving others advice on reasoned investment ideals.

In essence you are that guy who doens’t deadlift but has lots of ideas about whats wrong with other people’s DL.

The thing is though that you could be right. I don’t think you are but if you are I’ll still be okay because I have some gold/silver investments. If I’m right though, I’ll do great and you’ll be crushed. Somehow though you think your plans are the goods ones.[/quote]

Right now the dow is worth 8.808 ounces of Gold. I believe by the end of this year we will see it at 6.5-7oz. Tho the big move will be in silver.

The money I have in Hecla isn’t that much at all, and its already back to what I bought it at and it seems to be rebounding pretty well. Will I keep my money there forever? No, I will probably move it once it gets back over 7 a share. I will be moving it to Silvercorp metals.

I am not saying that investing some money in the stockmarket is bad, but at times like these you never know when the next 1000 point drop will happen. Its best to pick something thats purchasing power remains constant something like Gold or Silver.

It took 35 dollars in 1971 to buy one ounce of Gold, so 1:35. Gold is at the time I am right this 1:1,238 yet what Gold buys is pretty much the same back then as it is now.

lets call investing in the stockmarket what it is, Gambling. With all that is going around this is not the time to gamble. This is the time to preserve wealth till the things that need purged out of the market are finally purged(Im looking at you fannie and freddie mac), unfortunatly they are just going to keep printing money like they are doing to help europe and that only continues to devalue the currency.

The Fed is funneling dollars through the IMF to bail out greece, and it has instituted a currency swap exchange. Read my thread on the road to Hyperinfltion.

Are there stocks out there that will do real well in this, of course there is. Do you know what stocks are going to do real well?

282

[quote]JoeGood wrote:

[quote]Headhunter wrote:

[quote]JoeGood wrote:

[quote]John S. wrote:

[quote]dmaddox wrote:

[quote]John S. wrote:
Well, Gold just keeps on making record highs.

Sure you can still gamble in the market and make money just like you could have after the 87 crash but you must understand that you are gambling.

I have been laughed at on this forum called a nutjob, and yet it finally seems I am being proved right. Where is everyone screaming Gold is going to correct down to $800 an ounce now.[/quote]

I have never called you a nutjob. I am buying silver myself. I think gold is a little over valued. You point about the $800 an ounce, shows that everyone is on the train for precious metals. All bubbles start this way, and then crash.

I actually think gold might go to $1400-1600 an oz, but it will come back down to $800 when people jump off the train. It happened in Tech Stocks, Real Estate, Emerging Market Stocks, and IMO precious metals are next.

If inflation takes off my hypothesis is real estate will do better than precious metals. As long ans democrats are in power the threat of inflation stays high, but come Novemeber people might relax a little bit. Righ now is doom and gloom.[/quote]

Gold is not a bubble, Gold/silver are real money. The only bubbles left out there is the commercial real estate bubble and the bond bubble(the european bailout bubble is part of this).

This is not a democrat/republican thing, until you get rid of fiat currency gold/silver will continue to go up and up. The power to create money will tempt all, Bush printed and so did Obama.[/quote]

Gold/Silver are NOT money. Until you can go into a Toyota dealer and buy your car with gold or silver it is not a widely acceptable medium of exchange, thus it is not money.

Yes it has been money in the past and it might be money via a gold or silver standard again. Until that happens though it is a commodity like any other and can just as easily be overbought as any other bubble.

You have not been proven right by one or two days move in the price of gold/silver. I don’t remember you coming back and talking about how wrong you were on the weeks where the markets rose and gold/silver didn’t. A 3-5% rise over a few days is not that big a deal. Tons of tech companies move like that regularly but it doesn’t portend a Cybernetic dictatorship.

You are a zealot, and have a great deal of tunnel vision regarding your beliefs. In fact you have admitted that you have no back up plan, no diversification and that if you are wrong you will end up with nothing.

Does that sound like a well thought out investment plan from a reasonable individual?
[/quote]

Please PLEASE keep believing this while we pick up shares and bullion for cheap. When gold is $2500 and silver is $200, when the Dow is at 5000 and the herd begins to stampede away from the dollar, we will be there to collect…if we choose to convert to your paper napkins.[/quote]

This is the mind numbing arrogance of the true believer. The idea that any one who does not agree that their ONE TRUE GOD is the only way must by default be doomed forever.

I know this is going to be hard for some of you to understand but a person can have investments that will do reasonably well in almost all circumstances.

Since you are all knowing and have the ability to forsee the future, exactly when is this going to happen? [/quote]

A good investor can very easily make MORE money in a down market. Dont feed the troll with silly questions…though I am curious about the answers that will again show themselves wrong in 6 monts to a years time.

283

Jeaton “The top for Gold is in. The $1227 high will not be seen again for the rest of the year. $1000 will be the next point, and ultimately we will see $700 before any long term bottom is seen.”

This is why I said I was right, we obviously went higher and its only month 5 of this year.

284

[quote]JoeGood wrote:

[quote]Headhunter wrote:

[quote]JoeGood wrote:

[quote]John S. wrote:

[quote]dmaddox wrote:

[quote]John S. wrote:
Well, Gold just keeps on making record highs.

Sure you can still gamble in the market and make money just like you could have after the 87 crash but you must understand that you are gambling.

I have been laughed at on this forum called a nutjob, and yet it finally seems I am being proved right. Where is everyone screaming Gold is going to correct down to $800 an ounce now.[/quote]

I have never called you a nutjob. I am buying silver myself. I think gold is a little over valued. You point about the $800 an ounce, shows that everyone is on the train for precious metals. All bubbles start this way, and then crash.

I actually think gold might go to $1400-1600 an oz, but it will come back down to $800 when people jump off the train. It happened in Tech Stocks, Real Estate, Emerging Market Stocks, and IMO precious metals are next.

If inflation takes off my hypothesis is real estate will do better than precious metals. As long ans democrats are in power the threat of inflation stays high, but come Novemeber people might relax a little bit. Righ now is doom and gloom.[/quote]

Gold is not a bubble, Gold/silver are real money. The only bubbles left out there is the commercial real estate bubble and the bond bubble(the european bailout bubble is part of this).

This is not a democrat/republican thing, until you get rid of fiat currency gold/silver will continue to go up and up. The power to create money will tempt all, Bush printed and so did Obama.[/quote]

Gold/Silver are NOT money. Until you can go into a Toyota dealer and buy your car with gold or silver it is not a widely acceptable medium of exchange, thus it is not money.

Yes it has been money in the past and it might be money via a gold or silver standard again. Until that happens though it is a commodity like any other and can just as easily be overbought as any other bubble.

You have not been proven right by one or two days move in the price of gold/silver. I don’t remember you coming back and talking about how wrong you were on the weeks where the markets rose and gold/silver didn’t. A 3-5% rise over a few days is not that big a deal. Tons of tech companies move like that regularly but it doesn’t portend a Cybernetic dictatorship.

You are a zealot, and have a great deal of tunnel vision regarding your beliefs. In fact you have admitted that you have no back up plan, no diversification and that if you are wrong you will end up with nothing.

Does that sound like a well thought out investment plan from a reasonable individual?
[/quote]

Please PLEASE keep believing this while we pick up shares and bullion for cheap. When gold is $2500 and silver is $200, when the Dow is at 5000 and the herd begins to stampede away from the dollar, we will be there to collect…if we choose to convert to your paper napkins.[/quote]

This is the mind numbing arrogance of the true believer. The idea that any one who does not agree that their ONE TRUE GOD is the only way must by default be doomed forever.

I know this is going to be hard for some of you to understand but a person can have investments that will do reasonably well in almost all circumstances.

Since you are all knowing and have the ability to forsee the future, exactly when is this going to happen? [/quote]

2012, of course.

Look, we spend more than we earn. If we raise taxes, that hurts the economy. The bias is to create paper through the Fed. Their solution is to drown everything in paper (electronic) money. It therefore follows that assets that cannot be abused will be a magnet to those who want to avoid being victimized.

Part of my reasoning is philosophical. I don’t want to succeed with a vampire on my neck. I despise this government and advocate running it out of victims. When the vampire runs out of victims, it will die. It will take many of us with it, but my chances are better if I am less exposed to the system.

Sorry about the hijack. I will now bow out.

285

[quote]John S. wrote:
Jeaton “The top for Gold is in. The $1227 high will not be seen again for the rest of the year. $1000 will be the next point, and ultimately we will see $700 before any long term bottom is seen.”

This is why I said I was right, we obviously went higher and its only month 5 of this year.[/quote]

Great sleuthing, John. Especially when I wrote this on the first post of this thread titled “Market Predictions. Ignorance on Display.”

I do find it interesting, however, that the whole time you have been channeling Paul and Schiff in their cries for a crashing dollar. Is this why you chose to ignore my other prediction that the dollar had seen its near term low and would continue to strengthen? The DXY has gone from 74 to 85 in this same time, well over a 10% move.
Meanwhile, gold has only managed a gain of $9.00, which is less than 1%.

Also, do not forget that silver has yet to confirm the move in Gold, remaining under its last high. If it does not do so soon, this would be a major non-confirmation.

Take the time to re-read the rest of my posts, which state that I believe that markets behave in a fractal and scalier manner. This is why my predictions were so spot on for the first several weeks. I read the ending pattern correctly. I simply missed the overall degree or scale. This would imply that the next big move will be down and much larger than the last.

Or as always, I could be full of shit…

286

[quote]JEATON wrote:

[quote]John S. wrote:
Jeaton “The top for Gold is in. The $1227 high will not be seen again for the rest of the year. $1000 will be the next point, and ultimately we will see $700 before any long term bottom is seen.”

This is why I said I was right, we obviously went higher and its only month 5 of this year.[/quote]

Great sleuthing, John. Especially when I wrote this on the first post of this thread titled “Market Predictions. Ignorance on Display.”

I do find it interesting, however, that the whole time you have been channeling Paul and Schiff in their cries for a crashing dollar. Is this why you chose to ignore my other prediction that the dollar had seen its near term low and would continue to strengthen? The DXY has gone from 74 to 85 in this same time, well over a 10% move.
Meanwhile, gold has only managed a gain of $9.00, which is less than 1%.

Also, do not forget that silver has yet to confirm the move in Gold, remaining under its last high. If it does not do so soon, this would be a major non-confirmation.

Take the time to re-read the rest of my posts, which state that I believe that markets behave in a fractal and scalier manner. This is why my predictions were so spot on for the first several weeks. I read the ending pattern correctly. I simply missed the overall degree or scale. This would imply that the next big move will be down and much larger than the last.

Or as always, I could be full of shit…
[/quote]

The dollar is gaining strength simple because there is a flight from the euro. But we are over the 90% debt to GDP ratio, and its going to keep on rising. But lets look at it in the value of Gold, the dollar is losing strength. I believe the dollar and Gold will continue to rise till it is our turn on the chopping block. You must admit Gold/Silver are not acting like commodities anymore.

287

Okay if you think investing=gambling, and honestly can’t tell the difference then not only am I not sure theres any point in a discussion but I’m not sure why you are posting in an investing thread.

288

"In the last few weeks, the metals markets are abuzz over the revelations by Andrew Maguire that the London silver market is rigged from JPMorgan trading desks. Price suppression has come from naked shorting, otherwise known as selling silver contracts without collateral, without benefit of metal. The paper Ponzi scheme of the London Bullion Market Assn and the COMEX is slowly being unmasked.

The concentrated short positions have no economic justification, and represent over a year of global mine output. The GATA organization is being vindicated, soon to be granted great respect. Without the outsized naked short position in silver, all completely illegal, all totally protected by the USGovt and its obedient regulators, the silver price would be north of $50 per ounce. The same rigged market exists in gold. Without the outsized naked short position in gold, the gold price would be north of $2000 per ounce. That is where both are heading."

http://www.marketoracle.co.uk/Article19442.html

I know I said I’d bow out, because I always relate things back to philosophy, but I had to post this. It was a moral imperative.

289

[quote]JoeGood wrote:
Okay if you think investing=gambling, and honestly can’t tell the difference then not only am I not sure theres any point in a discussion but I’m not sure why you are posting in an investing thread.[/quote]

Agreed. I personally am completely diversified in my portfolio. I have and emergency fund, stocks, bonds, real estate (not Reits but rentals), private placements, and now I am dabling in precious metals. I just like holding the gold and silver in my hands. I am weird like that. Investing is not gambling if you know what you are doing. This is why the rich get richer. The rich see stocks as a vehicle to become more wealthy while the poor see it on the same par with gambling at a casino. The stock market over a long term say 15-20 years is a sure thing while a casino is loosing proposition over the long haul. I personally am going to listen to a rich person when it comes to investing than Joe Bubba at the craps table.

Everyone has their opinions, but over my 16 year experience in investing there is really no better way to make money. I am only 33 so it is almost half my life. I have personally made money over the past 10 years, not a bunch but it is a positive return.

290

"A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.

Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.

London cops using helicopters and patrol cars chased the hit-and-run driver before nabbing that person, whose name has not been released by authorities."

Holy shit! My wife has a vacation home in a very isolated part of Colorado. Coming on time to move. Read the article; it REALLY sinks in how the world works.

291

[quote]Headhunter wrote:
"A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.

Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.

London cops using helicopters and patrol cars chased the hit-and-run driver before nabbing that person, whose name has not been released by authorities."

Holy shit! My wife has a vacation home in a very isolated part of Colorado. Coming on time to move. Read the article; it REALLY sinks in how the world works.[/quote]

Come on HH. You believe that JPMorgan is trying to kill a trader for what he is saying? What is the real benefit to JPMorgan to keep the Silver and Gold Price down? Silver maybe becuase it has an industrial benefit. Maybe JPMorgan is helping out one of it huge manufactoring clients that buys a lot of silver. JPMorgan is out to make money, and that is it. They are not trying to rule the world.

292

[quote]Headhunter wrote:
"In the last few weeks, the metals markets are abuzz over the revelations by Andrew Maguire that the London silver market is rigged from JPMorgan trading desks. Price suppression has come from naked shorting, otherwise known as selling silver contracts without collateral, without benefit of metal. The paper Ponzi scheme of the London Bullion Market Assn and the COMEX is slowly being unmasked.

The concentrated short positions have no economic justification, and represent over a year of global mine output. The GATA organization is being vindicated, soon to be granted great respect. Without the outsized naked short position in silver, all completely illegal, all totally protected by the USGovt and its obedient regulators, the silver price would be north of $50 per ounce. The same rigged market exists in gold. Without the outsized naked short position in gold, the gold price would be north of $2000 per ounce. That is where both are heading."

http://www.marketoracle.co.uk/Article19442.html

I know I said I’d bow out, because I always relate things back to philosophy, but I had to post this. It was a moral imperative.

[/quote]

Because the author of that OPINION piece believes there is no economic reason to short silver does not make it so. The rest of the article basically says “If certain very powerful and educated groups of people didn’t think silver was going down then it would be going up”.

Well no shit…

Maybe those people did a google search like I did and thought that maybe the rapidly increasing production numbers might not be the best news for the per ounce price.

Of course its possible that supply has no effect what so ever on price but I doubt it.

293

[quote]JoeGood wrote:

[quote]Headhunter wrote:
"In the last few weeks, the metals markets are abuzz over the revelations by Andrew Maguire that the London silver market is rigged from JPMorgan trading desks. Price suppression has come from naked shorting, otherwise known as selling silver contracts without collateral, without benefit of metal. The paper Ponzi scheme of the London Bullion Market Assn and the COMEX is slowly being unmasked.

The concentrated short positions have no economic justification, and represent over a year of global mine output. The GATA organization is being vindicated, soon to be granted great respect. Without the outsized naked short position in silver, all completely illegal, all totally protected by the USGovt and its obedient regulators, the silver price would be north of $50 per ounce. The same rigged market exists in gold. Without the outsized naked short position in gold, the gold price would be north of $2000 per ounce. That is where both are heading."

http://www.marketoracle.co.uk/Article19442.html

I know I said I’d bow out, because I always relate things back to philosophy, but I had to post this. It was a moral imperative.

[/quote]

Because the author of that OPINION piece believes there is no economic reason to short silver does not make it so. The rest of the article basically says “If certain very powerful and educated groups of people didn’t think silver was going down then it would be going up”.

Well no shit…

Maybe those people did a google search like I did and thought that maybe the rapidly increasing production numbers might not be the best news for the per ounce price.

Of course its possible that supply has no effect what so ever on price but I doubt it.[/quote]

I see you have chosen the blue pill.

294

[quote]Headhunter wrote:

[quote]JoeGood wrote:

[quote]Headhunter wrote:
"In the last few weeks, the metals markets are abuzz over the revelations by Andrew Maguire that the London silver market is rigged from JPMorgan trading desks. Price suppression has come from naked shorting, otherwise known as selling silver contracts without collateral, without benefit of metal. The paper Ponzi scheme of the London Bullion Market Assn and the COMEX is slowly being unmasked.

The concentrated short positions have no economic justification, and represent over a year of global mine output. The GATA organization is being vindicated, soon to be granted great respect. Without the outsized naked short position in silver, all completely illegal, all totally protected by the USGovt and its obedient regulators, the silver price would be north of $50 per ounce. The same rigged market exists in gold. Without the outsized naked short position in gold, the gold price would be north of $2000 per ounce. That is where both are heading."

http://www.marketoracle.co.uk/Article19442.html

I know I said I’d bow out, because I always relate things back to philosophy, but I had to post this. It was a moral imperative.

[/quote]

Because the author of that OPINION piece believes there is no economic reason to short silver does not make it so. The rest of the article basically says “If certain very powerful and educated groups of people didn’t think silver was going down then it would be going up”.

Well no shit…

Maybe those people did a google search like I did and thought that maybe the rapidly increasing production numbers might not be the best news for the per ounce price.

Of course its possible that supply has no effect what so ever on price but I doubt it.[/quote]

I see you have chosen the blue pill.
[/quote]

Yes in the absence of credible data or a reasoned argument the last resort is some sort of dismissive comment backed with nothing.

“Fundamental data is hard to come by for the silver market, but the Silver Institute said that world mine production totaled 681 million ounces in 2008, up 2.5% from the previous year. According to CPM Group, 2008 fabrication demand was down 3% from the previous year. On November 19 2009, Gold Fields Mineral Services, Ltd. estimated that fabrication demand was down 11% in 2009.”

Rising production and falling industrial demand.

"The world’s largest of all mining royalty and metal streaming company, Vancouver’s Silver Wheaton announced Thursday it expects to have attributable production of 22.2 million ounces of silver and 20,000 ounces of gold for a total silver equivalent production of 23.5 million ounces this year.

This represents a 35% increase compared to last year when attributable silver production was 17.4 million ounces or 16.2 million ounces of silver and 19,300 ounces of gold."

“Great Panther is a growing primary silver producer with two operating mines in Mexico. The company steadily increased silver production from the mines from 600,000 ounces in 2006 to 1.2 million ounces last year. Great Panther is forecasting another 25% increase in production to 1.5 million ounces this year; they then expect silver production to continuing growing to 2.8 million ounces in 2010.”

“- Production of 1.08 million ounces of silver in the quarter, resulting in record annual production of 4.62 million ounces and the fourth consecutive year of silver production growth;”

“Canadian-based Pan American Silver (PAAS) released first quarter 2010 financial and operating results, which included a 13% rise in silver production and a 34% increase in gold production. PAAS climbed 4.3% to $27.01 in mid-day trading.”

“VANCOUVER, BRITISH COLUMBIA–(Marketwire - April 14, 2010) - Endeavour Silver Corp. (“Endeavour”) (TSX:EDR)(NYSE Amex:EXK)(DBFrankfurt:EJD) announced today that silver production for Q1, 2010 from the Company’s two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State, totalled 766,210 ounces (oz) silver, up 34% compared to Q1, 2009.”

“COEUR Dâ??ALENE, Idaho â?? Silver miner and gold producer Coeur dâ??Alene Mines Corp. said Thursday it produced 47 percent more silver in 2009 and gold production rose 56 percent as new mines in Bolivia and Mexico began operations.”

Just about every silver company you can find is rapidly ramping up its production and maginal mines are being reopned.

If this was anything but gold or silver you’d been screaming about teh new bubble.

295

[quote]JoeGood wrote:

[quote]Headhunter wrote:

[quote]JoeGood wrote:

[quote]Headhunter wrote:
"In the last few weeks, the metals markets are abuzz over the revelations by Andrew Maguire that the London silver market is rigged from JPMorgan trading desks. Price suppression has come from naked shorting, otherwise known as selling silver contracts without collateral, without benefit of metal. The paper Ponzi scheme of the London Bullion Market Assn and the COMEX is slowly being unmasked.

The concentrated short positions have no economic justification, and represent over a year of global mine output. The GATA organization is being vindicated, soon to be granted great respect. Without the outsized naked short position in silver, all completely illegal, all totally protected by the USGovt and its obedient regulators, the silver price would be north of $50 per ounce.

The same rigged market exists in gold. Without the outsized naked short position in gold, the gold price would be north of $2000 per ounce. That is where both are heading."

http://www.marketoracle.co.uk/Article19442.html

I know I said I’d bow out, because I always relate things back to philosophy, but I had to post this. It was a moral imperative.

[/quote]

Because the author of that OPINION piece believes there is no economic reason to short silver does not make it so. The rest of the article basically says “If certain very powerful and educated groups of people didn’t think silver was going down then it would be going up”.

Well no shit…

Maybe those people did a google search like I did and thought that maybe the rapidly increasing production numbers might not be the best news for the per ounce price.

Of course its possible that supply has no effect what so ever on price but I doubt it.[/quote]

I see you have chosen the blue pill.
[/quote]

Yes in the absence of credible data or a reasoned argument the last resort is some sort of dismissive comment backed with nothing.

“Fundamental data is hard to come by for the silver market, but the Silver Institute said that world mine production totaled 681 million ounces in 2008, up 2.5% from the previous year. According to CPM Group, 2008 fabrication demand was down 3% from the previous year. On November 19 2009, Gold Fields Mineral Services, Ltd. estimated that fabrication demand was down 11% in 2009.”

Rising production and falling industrial demand.

"The world’s largest of all mining royalty and metal streaming company, Vancouver’s Silver Wheaton announced Thursday it expects to have attributable production of 22.2 million ounces of silver and 20,000 ounces of gold for a total silver equivalent production of 23.5 million ounces this year.

This represents a 35% increase compared to last year when attributable silver production was 17.4 million ounces or 16.2 million ounces of silver and 19,300 ounces of gold."

“Great Panther is a growing primary silver producer with two operating mines in Mexico. The company steadily increased silver production from the mines from 600,000 ounces in 2006 to 1.2 million ounces last year. Great Panther is forecasting another 25% increase in production to 1.5 million ounces this year; they then expect silver production to continuing growing to 2.8 million ounces in 2010.”

“- Production of 1.08 million ounces of silver in the quarter, resulting in record annual production of 4.62 million ounces and the fourth consecutive year of silver production growth;”

“Canadian-based Pan American Silver (PAAS) released first quarter 2010 financial and operating results, which included a 13% rise in silver production and a 34% increase in gold production. PAAS climbed 4.3% to $27.01 in mid-day trading.”

“VANCOUVER, BRITISH COLUMBIA–(Marketwire - April 14, 2010) - Endeavour Silver Corp. (“Endeavour”) (TSX:EDR)(NYSE Amex:EXK)(DBFrankfurt:EJD) announced today that silver production for Q1, 2010 from the Company’s two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State, totalled 766,210 ounces (oz) silver, up 34% compared to Q1, 2009.”

“COEUR Dâ??ALENE, Idaho â?? Silver miner and gold producer Coeur dâ??Alene Mines Corp. said Thursday it produced 47 percent more silver in 2009 and gold production rose 56 percent as new mines in Bolivia and Mexico began operations.”

Just about every silver company you can find is rapidly ramping up its production and maginal mines are being reopned.

If this was anything but gold or silver you’d been screaming about teh new bubble.

[/quote]

I always admit when someone has a powerful argument. Well done. I will also add that those figures you cite indicate dramatically increasing demand for those commodities. Does that indicate a drop in terms of dollars? Not necessarily. Production is rising to meet rising demand.

Now, an insider trader has said that the dollar price of those things is being held down, probably at the behest of our government and their defense of the dollar. He is then nearly killed in a ‘crash’. Those are facts, not opinions as you say. If there was an abundance of those precious metals, why would all these powerful people need to hold down the price?

When dealing with the metals, you have to also include POLITICS. Governments hate gold because it would restrict their grandiose spending. That’s why it had to be turned into a ‘commodity’ instead of being properly regarded as money. But people really know that this is a trick and that gold remains the real money, not paper inflatable-at-will.

When I was 16, gold was $35 per ounce. What will it be 30 years from now? I think the question will be moot, since gold will again be money and paper dollars will be landfill.

296

Look at the price of silver and mining stocks, where are the speculators?

297

[quote]John S. wrote:
Gold is money, this paper shit is over. Gold is the only safe bet, if you measure it in dollars then yes it goes up and down, but what Gold can buy has remained stable. Hence why it is money.

Europe is imploding, all this “bailout” does is devalue our currency even more. Perhaps this would be a great time to start reading into austrian economics.

Prices don’t go up in deflation like we are seeing now.

I have said before in other threads that we would see the collapse happen this year, and it has started. But hey if you want listen to the talking heads on CNBC and invest your money in Europe I hear its a great buying opportunity.[/quote]

Lol. Gold is down to $1,238.80 an ounce and most likely has seen its peak and will drop more. I will be interested to see what you are saying in a years time. Two years time.

298

[quote]John S. wrote:
Look at the price of silver and mining stocks, where are the speculators?[/quote]

This is another thing that both annoys me and makes no sense.

A “specualtor” is someone who disagrees with you. A investor is someone who agrees with you.

What you probably mean by speculator, which is one of the most inaccurate terms ever, are on both sides of the metals trade. Most of the price action in gold/silver both long and short has most likely been brought on by people you refer to as speculators.

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[quote]jsbrook wrote:

[quote]John S. wrote:
Gold is money, this paper shit is over. Gold is the only safe bet, if you measure it in dollars then yes it goes up and down, but what Gold can buy has remained stable. Hence why it is money.

Europe is imploding, all this “bailout” does is devalue our currency even more. Perhaps this would be a great time to start reading into austrian economics.

Prices don’t go up in deflation like we are seeing now.

I have said before in other threads that we would see the collapse happen this year, and it has started. But hey if you want listen to the talking heads on CNBC and invest your money in Europe I hear its a great buying opportunity.[/quote]

Lol. Gold is down to $1,238.80 an ounce and most likely has seen its peak and will drop more. I will be interested to see what you are saying in a years time. Two years time.
[/quote]

‘Down’ to $1238.80…LOL! It was $35 when I was your age (prbly). It was $270 in 2001, when I put huge amounts in metal and the miners.

You might be rightthough…in one year. Who’ll be richer 10 years from now? 20? LOL!!

Here, maybe this’ll help clear the fog…
From the WSJ, so Joe can’t dismiss it as ‘opinion’:

“103: The number of months it would take to sell off all the foreclosed homes in banksâ?? possession, plus all the homes likely to end up there over the next couple years, at the current rate of sales.”

More than 8 years!!

How will the government bail out the banks collapsing under THAT? And you want to bet against gold? If you do, then you are a fool.

300

[quote]jsbrook wrote:

[quote]John S. wrote:
Gold is money, this paper shit is over. Gold is the only safe bet, if you measure it in dollars then yes it goes up and down, but what Gold can buy has remained stable. Hence why it is money.

Europe is imploding, all this “bailout” does is devalue our currency even more. Perhaps this would be a great time to start reading into austrian economics.

Prices don’t go up in deflation like we are seeing now.

I have said before in other threads that we would see the collapse happen this year, and it has started. But hey if you want listen to the talking heads on CNBC and invest your money in Europe I hear its a great buying opportunity.[/quote]

Lol. Gold is down to $1,238.80 an ounce and most likely has seen its peak and will drop more. I will be interested to see what you are saying in a years time. Two years time.
[/quote]

I don’t know about gold, I think gold might have some short term room to run. Silver has some intrinsic issues that gold doesn’t. Silver might go along for the ride with gold but there are compelling reasons why it might not.

Theres one other thing you need to consider.

In the short term if enough people believe like HH and John it doesn’t matter if they are right or wrong the demand it self could push gold. Remember that if enough people buy physical gold then it could go up in price even if their particular economic ideas are wrong.

Plus there is demand from the Far East, particularly India, where wealth is often held as wearable gold. As those nations gain in wealth this will push the price of gold, but not the price of silver.

Gold and silver have always been bandwagon trades, people pile on and ride them to wild swings, this is why you never fight them on the way up or on the way down.

In the long term I think gold isn’t that great of an investment, it’s a hedge. In the short term I wouldn’t go short it though either.