Well if you wait just a little bit longer you'll be able to pick silver up for half the current price, however when precious metals tank they tend to stagnate for 20+ years which will take you to a lot more than 40.
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Here's a couple of quotes of yours from the silver thread.
"there's no way silver's gonna see the '20's again"
On 13.12/2011, "I bought physical $42oz".
I always read the public notices in the paper, JB, maybe I'll see your name in the bankruptcy column, the fun's only just started.
-Fundamentals will shine though only a matter of time till the fiat madness ends the sell-off ...if the price of cattle went below the cost to farm the cattle how long would cattle farmer keep farming ??? IMHO whats happening to silver is not much different than what we seen from the Oil price during 08 GFC the price got absolutely smashed $140-$33 ...I remember Skol bleating on how right he was.... on the new low Oil prices ...heaps of it blah blah then what happen pretty much overnight ...Oil started a new trend back up as the fundamentals were out of wack now $102 brent oil.... "Crude Oil" is used in the most different applications of all commodities ....Silver is second with just over 10,000 ....
-bankruptcy not likely unless Queenstown property goes to zero value overnight
Gold $1405oz AUD
Looks like the gold bugs are 'unstacking phyzz', if I can use one of their more absurd expressions.
The Chinese aunties and enthusiastic Indians will be licking their wounds having found the bottom isn't in, so they'll be a lot more cautious this time around. One large Indian bullion company is now refusing to use gold as collateral for loans.
The bullion bloodbath is all set to continue.
http://www.nasdaq.com/article/may-go...-mint-cm252367
And goldbug poster boy John Paulson gets pulverised - again.
http://au.businessinsider.com/john-p...ormance-2013-6
Who's 'backin' the truck up'?
He wouldn't farm it, he'd move on to something else, lamb or crops, whatever pays the money, or he could stop buying tractors, supplementary feed, fencing, fertiliser etc. Cut costs. Gold will drop below the cost of extraction for many miners and they'll abandon or sell the mines, place them in care and maintenance or go out of business, it's quite simple. Gold isn't essential for the normal operation of society, it looks nice, that's it. You can't eat it, which you can do with beef of course. When beef runs out there's every chance the price will increase because it's a perishable commodity, virtually all the gold mined is still in existence.
Just because the mines stop producing gold doesn't mean gold will go up, many people will sell the gold they've accumulated to do other things with, in fact I saw a post from a goldbug yesterday selling at a loss to carry out alterations to his house.
Last time gold crashed it stagnated for 20 years, there's no reason to believe it will be any different this time.
Attachment 4612Attachment 4613
Looking similar? A long way to fall yet.
Yes it does look similar ...and by all means Gold/Silver looks to be in the Despair phase ....looking forward to returning to the mean
Not sure why you're looking forward to it, the mean is probably somewhere around $600.
This an excerpt from a book I have here.
"Moreover, the existence of a speculative bubble in gold makes the upcoming price collapse much more dangerous. Since the implosion of a bubble tends to drag prices down even below long-term averages, as panicked investors overreact to the downside, we can forecast prices to drop to levels near gold's long-term mean ($500 to $700) and below."
That won't be much fun JB, silver $9. Oh, Schiff!!!!!!!
Whenever there was a bull market somewhere some said this time is different. What happened in the markets in the past will happen again and again in a different way. Time to time we will see currency crisis, gold crisis, oil crisis, credit crisis and banking crisis this financial world. Everybody should have some sort effective risk management system.Based on the new developments gold will go down to $1000 if we don’t get any strong support around $1000 it can goas low as $500 level during next couple of years. Now party is not only over for gold but also for few more commodities such as corn and soya bean. Some commodities with demand and supply mismatch including emerging commodities will become bull commodities in the coming decade. USD will go up further against AUD and NZD.
http://finance.yahoo.com/blogs/daily-ticker/gold-prices-collapse-everyone-remembers-just-yellow-metal-150633740.htmlGold Prices
Collapse As Everyone Remembers It’sJust Yellow Metal: Blodget
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