There's still doubt in peoples mind

[craig12]

i kinda get the feeling that people are still expecting silver to fall and this is,not the bottom 

reason     well i  see a lot more purchasing from members  ie 5 ,10 20 coins etc

 

but if you really thought it was the bottom , my gut feeling is that most people would be buying much more and be raiding their savings  rather than the isa rates

 

me personally  i feel i would like to buy a WHOLE  lot more  if we had the £8 figure  or £10 a coin all in 

whats your thoughts 

if this is the bottom then why only a few more coins here and there isnt it time for the guys with the real disposable cash  to be buying  60-100 coins in one go or a monster box

 

my own story is that i do have some money in the building society , i just dont think this is the lowest buying opportunity 

 

any thoughts

 

ps .. not saying you guys havent upped your buying game  , im just not seeing  many many more coins purchased than before the drop

[Shamatti]

It is a process. Ever time it drops buy more, this way you are hopefully recovering losses. That is my plan.

 

Has it reached the bottom. I think so. I don't think we will see £8 spot again. It costs that to pull it out the ground and refine it and mint it. Of course, I could be wrong, it has happened before! lol

 

I am buying at every opportunity. Sadly for me they are few and far between until I have a permanent address. 

[crazy hippo]

i don’t know, that pulling it out of the ground was fine at £4 an oz not that long ago. maybe there is more play in it than we were led to believe.

 

I have an awful gut feeling that the price may drop a lot very soon.

[morezone]

People are buying more but I don't think many people are going to be putting all their eggs in one basket.

Those with huge disposable incomes will be buying gold.  It's quite difficult to securely store 10 monster boxes whereas a similar value in gold can be stored in 4.x tubes.

Some people here may be buying huge amounts but I very much doubt they'll be broadcasting it.

[HighlandTiger]

Some people here may be buying huge amounts but I very much doubt they'll be broadcasting it.

 

 

I think you hit the proverbial nail there....

[LongJohnSilver]

Looks like some people may think the fed have hit the print button again ( proverbially if not literally)

Won't see it this low for a while though a sterling rally might help with our purchasing power. IMO

[mmissinglink]

Hi craig12,

 

if you are convinced that the price will drop more, then save your money and get more silver oz when it does. I think we have not seen the bottom. Until that bottom shows its lowly face, I am picking up some semi-numis at very decent prices.

 

 

 

.

[SilverMoon]

Is there still doubt in peoples minds,yes and debt/lost money'zz in their minds for sure for most Americans.

 First off we have not seen a return to price not yet,not yet folks. Stackers it would not be good to have a mind set now,that Silver  is still going down or not,,,,,,,have the mind set Silver has not returned to price,a year or so before 2009. Now between price at $25-Upper $40 that was a bad time to stack for sure. IF u look at your fiat Money'zz and get ichy to buy Silver get just a few bars maybe 5 oz's/bars at 1 oz or 1 oz rounds is best just a few 5 works if they are 1 oz Silver that will make u money when u buy or hold 4 dollars or so over spot. This is the worst time to buy Silver even if it looks good at trade prices right now its NOT. We must return to price before 2009.

With that said my goal is to help get u more silver at better prices,then prices u may buy to much silver at and what kind.

  2014 1 oz Mexican Silver Libertad is much better then a 2014 American Eagle. People pay more for 2014 1 oz Mexican Silver Libertad BU then any 2014 American Eagle BU. Over all u will get more money out of the 2014 Mexican Silver Libertad BU then any other Mint coin. Modern JM Bars are a bad idea to they are way over rated just buy Genric Coins or Bars if u buy those.

 Next good coin to make money from is 2014 Armenian Noah's Ark BU. Banksters Line at SD is a no brainier another coin u will make money from,all 3 types of coins are well made and have great detail,the Banksters Line is a total of 4 coins get some soon as in the next few weeks no longer then 2 weeks,but not buy a 100. 2014 Armenian Noah's Ark is the best of the 3 for over all detail and look of the Feild. Feild is the space between the image on the coin.

If u want 1000 coins to buy wait for sure. Silver is not close to its return between $5 and $8 dollars yet. Stack great coin for each year 2014,2015 so on but do not buy 1000's of silver rounds and bars right now bad idea for sure.

 

 

[Shamatti]

My feeling is that what we have been through over the last 3 years is a massive PM's price correction. We will now see it turn up and slowly resume the same sort of increases we were seeing during '05 and the first half of '06. Very gradual but gentle increases over a longer period. The other alternative, which is just as likely in my mind, is that we will bump along s we are for a little wile longer, and then rocket as other investment options falter.

 

First option is business as usual resuming.

Second option is more of a SHTF scenario.

 

I think we will know by Christmas which one is going to happen.

[SilverMoon]

  This Rocket idea for silver is a long shot,it is a good idea to buy it as it has proved to go up in panic times in the new 2000's market but we need some big time losing in Fiat money'zz which is not going to happen soon from what I know. Right now Fiat paper rules good or bad it rules and has been top dog for some time now. PM's are on a down turn maybe for 5 years more till they flat line for years sorry to say but that what I see and know.

[Paul]

i think you guys in the USA have given us nearly $18trillion reasons why precious metals have a good chance of increasing 

 

http://www.usdebtclock.org/

[mmissinglink]

Hey Paul,  Too bad for you that your argument has little to no merit. Silver and gold has plunged while the debt has increased over the passed 3 + years. The debt will continue to increase and au and ag will continue to plunge. There's no causal effect of increasing debt and the price of these metals. It's a myth which gets its nose bloody every time au and ag falls in a time of rising debt like we currently have.

 

Investor sentiment is basically what drives the prices on these metals. That sentiment is made of many factors and it's complex. Asserting as you have that rising debt consequentially results in rising au and ag prices shows that you don't understand what drives the metals prices. 

 

.

[Paul]

As I have no intention of exiting my precious metals position for 30+ years. I'll just stay as I am thanks. Ok, I'm a few thousand quid in the red currently but in 30+ years time I'm sure USA the dollar geo politics oil housing markets jobs savings rates terror threats personal debt such like will all be gone everyone will be living the high life lighting Havana cigars with $100 notes and there'll be no need for my current negative pessimism yee harrr ...... god bless America

$ 18+ trillion buys how many penny chews at current exchange rate?............

[mmissinglink]

In 30 years, far fewer people than today may value gold and silver...gold and silver could be then valued as one would value tin cans today.

 

Much has changed since the Bronze Age, Paul and the past is no guarantee of future value.

 

That said, I do believe that for at least 30 years, there will be plenty of gold and silver bugs still around. 

 

 

.

[Paul]

correct me if im wrong but gold and silver have been used as a form of money for how many years? 5/10/50 years ? NO, just over 5,000+ years.

the first gold mined out of the ground is still here with us above ground

 

this current 'experiment' in paper fiat money worldwide is failing and failing fast.

 

how many fiat currencys have not gone to their intrinsic value of zero ? yes, NONE 

 

Currency Name (Currency Code) Inception / Duration (years)

Venezuela Bolivar Fuerte 2008 7 mos.

Sudanese Pound (SDG) 2007 1

Turkish New Lira (TRY) 2005 3

Suriname Dollar (SRD) 2004 4

Afghanistan Afghani (AFN) 2002 6

Yugoslav Noviy (Super) Dinar (SCD) 2002 6

Transnistrian New Ruble (PDN) 2001 7

Belarus Newer Ruble (BYR) 2000 8

Tajikistan Somoni (TJS) 2000 8

Angola Kwanza (new) (AOA) 1999 9

Bulgarian New Lev (BGN) 1999 9

Euro (EUR) 1999 9

Russian Federation New Ruble (RUB) 1999 9

Congolese Franc (CDF) 1998 10

Eritrean Nakfa (ERN) 1997 11

Ukraine Hryvnia (UAH) 1996 12

Bosnia Convertible Mark (BAM) 1995 13

Georgia Larit (GEL) 1995 13

Polish New Zloty (PLN) 1995 13

Serbian Dinar (RSD) 1994 14

Brazil Real (BRL) 1994 14

Croatian Kuna (HRK) 1994 14

Cuba “Peso Convertible” (CUC) 1994 14

Yugoslav Noviy (Super) Dinar (YUM) 1994 14

Somaliland Shilling (SQS) 1994 14

Uzbekistan Sum (UZS) 1994 14

Armenian Dram (AMD) 1993 15

Azerbaijan Manat (AZM) 1993 15

Colombia Peso (COP) 1993 15

Czech Koruna (CZK) 1993 15

Kazakhstan Tenge (KZT) 1993 15

Kyrgyzstan Som (KGS) 1993 15

Latvia Lat (LVL) 1993 15

Lithuania Lita (LTL) 1993 15

Macedonian New Denar (MKD) 1993 15

Mexico New Peso (MXN) 1993 15

Moldovan Leu (MDL) 1993 15

Myanmark Dollar Foreign Exchange Certificates (MMX) 1993 15

Namibia Dollar (NAD) 1993 15

Turkmenistan Manat (TMM) 1993 15

Uruguay Peso Uruguayo (UYU) 1993 15

Argentina Peso Convertible (ARS) 1992 16

Estonia Kroon (EEK) 1992 16

Slovak Koruna (SKK) 1992 16

Slovenia Tolar (SIT) 1992 16

Nicaragua Cordoba Oro (NIO) 1991 17

Peru Sol Nuevo (PEN) 1991 17

Yemeni Rial (YER) 1990 18

Myanmar Kyat (MMK) 1989 19

Bolivian Boliviano (New) (BOB) 1987 21

Cook Islands Dollar (CKD)* 1987 21

Uganda New Shilling (UGX) 1987 21

Aruba Guilder (AWG) 1986 22

New Franc Guineen (GNF) 1986 22

Israel New Shekel (ILS) 1985 23

Viet Nam Dong (VND) 1985 23

Madagascar Ariary (MGA) 1983 25

Iceland Krona (ISK) 1981 27

Maldive Islands Rufiyaa (MVR) 1981 27

Vanuatu Vatu (VUV) 1981 27

Mozambique Metical (MZM) 1980 28

Cambodia New Riel (KHR) 1980 28

Lesotho (Ma)Loti (LSL) 1980 28

Zimbabwe Dollar (ZWD) 1980 28

Ghana New Cedi (GHC) 1979 29

Laos New Kip (LAK) 1979 29

Sri Lanka Rupee (LKR) 1978 30

Djibouti Franc (DJF) 1977 31

Sao Tome and Principe Dobra (STD) 1977 31

Solomon Islands Dollar (SBD) 1977 31

Botswana Pula (BWP) 1976 32

Ethiopian Birr (ETB) 1976 32

Chilean Peso (CLP) 1975 33

Comoros Franc (KMF) 1975 33

Papua New Guinea Kina (PGK) 1975 33

Belize Dollar (BZD) 1974 34

Bhutan Ngultrum (BTN) 1974 34

Somali Shilin Soomaali (SOS) 1974 34

Swaziland Lilangeni (SZL) 1974 34

Barbados Dollar (BBD) 1973 35

Mauritania Ouguiya (MRO) 1973 35

Nigerian Naira (NGN) 1973 35

Qatari Rial (QAR) 1973 35

United Arab Emirates Dirham (AED) 1973 35

Bangladesh Taka (BDT) 1972 36

Rial Omani (OMR) 1972 36

Cayman Islands Dollar (KYD) 1971 37

Gambia Dalasi (GMD) 1971 37

Northern Irish Pound (IBP) 1971 37

Libyan Dinar (LYD) 1971 37

Malawi Kwacha (MWK) 1971 37

Scotland Pound (SSP) 1971 37

Bermudan Dollar (BMD) 1970 38

Fiji Dollar (FJD) 1969 39

Jamaica Dollar (JMD) 1969 39

Maltese Lira (MTL) 1968 40

Zambian Kwacha (ZMK) 1968 40

Brunei Dollar (BND) 1967 41

New Zealand Dollar (NZD) 1967 41

Western Samoa Ta’la (WST) 1967 41

Singapore Dollar (SGD) 1967 41

Australian Dollar (AUD) 1966 42

Bahamas Dollar (BSD) 1966 42

Kenyan Shilling (KES) 1966 42

Tanzania Shilling (TZS) 1966 42

Tonga Pa’anga (TOP) 1966 42

Albanian “Heavy” Lek (ALL) 1965 43

Bahraini Dinar (BHD) 1965 43

Indonesian Rupiah (IDR) 1965 43

Algerian Dinar (DZD) 1964 44

Burundi Franc (BIF) 1964 44

Rwanda Franc (RWF) 1964 44

Sierra Leone Leone (SLL) 1964 44

Malaysian Ringgit (MYR) 1963 45

South Korean Won (KRW) 1962 46

Kuwaiti Dinar (KWD) 1961 47

South African Rand (ZAR) 1961 47

Franc Metropolitan (XMF) 1960 48

Tunisian Dinar (TND) 1960 48

North Korea New Won (KPW) 1959 49

Moroccan Dirham (MAD) 1959 49

Tunisian Dinar (TND) 1958 50

French Polynesian CFP Franc (XPF) 1957 51

Chinese Renminbi Yuan (CNY) 1953 55

Romanian Leu (RON) 1952 56

Saudi Riyal (SAR) 1952 56

Jordan Dinar (JOD) 1950 58

Faeroe Islands Kronur (FOK) 1949 59

Taiwan New Dollar (TWD) 1949 59

Lebanese Pound (LBP) 1948 60

Pakistan Rupee (PKR) 1948 60

Syrian Pound (SYP) 1948 60

Dominican Republic Peso Oro (DOP) 1947 61

Hungary Forint (HUF) 1946 62

Liberian Dollar (LRD) 1944 64

Paraguay Guarani (PYG) 1943 65

West African CFA Franc (XOF) 1941 67

Central African CFA Franc (XAF) 1941 67

Mauritius Rupee (MUR) 1934 74

Nepalese Rupee (NPR) 1933 75

Iranian Rial (IRR) 1932 76

Iraqi Dinar (IQD) 1931 77

Thailand Baht (THB) 1928 80

Gibraltar Pound (GIP) 1713 81

Honduras Lempira (HNL) 1926 82

Guatemala Quetzal (GTQ) 1925 83

Liechtenstein Franc (LIF)* 1921 87

El Salvador Colon (SVC) 1919 89

Guyana Dollar (GYD) 1916 92

Mongolia Tugrik (MNT) 1915 93

Cape Verde Escudo (CVE) 1914 94

Cyprus Pound (CYP) 1914 94

Falkland Islands Pound (FKP) 1908 100

French Pacific Territories Franc (XPF) 1905 103

Norway Krone (NOK) 1905 103

Somali N-Shilling (SON) 1905 103

Trinidad and Tobago Dollar (TTD) 1905 103

Panama Balboa (PAB) 1903 105

Macao Pataca (MOP) 1901 107

Saint Helena Pound (SHP) 1901 107

Seychelles Rupee (SCR) 1900 108

Philippine Piso (PHP) 1898 110

Costa Rican Colon (CRC) 1896 112

Hong Kong Dollar (HKD) 1895 113

Egyptian Pound (EGP) 1885 123

Danish Krone (DKK) 1873 135

Swedish Krona (SEK) 1873 135

Haiti Gourde (HTG) 1872 136

Japanese Yen (JPY) 1871 137

Cuban Peso (CUP) 1859 149

Canadian Dollar (CAD) 1858 150

Guernsey Pound Sterling (GGP) 1827 181

India Rupee (INR) 1823 185

Netherlands Antillan Guilder (ANG) 1821 187

Swiss Franc (CHF) 1799 209

US Dollar (USD) 1792 216

Pound Sterling (GBP) 1694 314

 

The median age for a live currency is 37 years and at least one, the Zimbabwe dollar, is in the throes of hyperinflation.

 

 

There are 609 currencies no longer in circulation. Of these, at least 153 were destroyed as a result of hyperinflation caused by over-issuance. The remainder were revalued, destroyed by military occupation/liberation, renamed for political reasons, or were converted to another currency. The median age for these currencies is only seventeen years.

 

Wise words from the 1600s 

“Paper money eventually returns to its intrinsic value – zero.” (Voltaire, 1694-1778 )

[Danny-boy]

Interesting stuff.

[a_a]

$ 18+ trillion buys how many penny chews at current exchange rate?............

 

1.2 quintillion, give or take a couple o' trill

[Paul]

1,200,000,000,000,000,000p

 

x18 zeros 

........hhhhhmmmmmmmmmmm that's quite a lot isn't it ?

 

you'd have to have a fairly large whiskey bottle to store all those pennies i bet

or

what size would you be if you ate 1.2quintillion penny chews

 

Above that we have,

 

Quintillion

Sextillion

Septillion

Octillion

Nonillion

Decillion

Undecillion

Duodecillion

Tredecillion

Quattuordecillion

Quinquadecillion

Sedecillion

Septendecillion

Octodecillion

Novendecillion

Vigintillion

Unvigintillion

Duovigintillion

Tresvigintillion

Quattuorvigintillion

Quinquavigintillion

Sesvigintillion

Septemvigintillion

Octovigintillion

Novemvigintillion

Trigintillion

Untrigintillion

Duotrigintillion

Trestrigintillion

Quattuortrigintillion

Quinquatrigintillion

Sestrigintillion

Septentrigintillion

Octotrigintillion

Noventrigintillion

Quadragintillion

Quinquagintillion

Sexagintillion

Septuagintillion

Octogintillion

Nonagintillion

Centillion

Uncentillion

Duocentillion

Trescentillion

Decicentillion

Undecicentillion

Viginticentillion

Unviginticentillion

Trigintacentillion

Quadragintacentillion

Quinquagintacentillion

Sexagintacentillion

Septuagintacentillion

Octogintacentillion

Nonagintacentillion

Ducentillion

Trecentillion

Quadringentillion

Quingentillion

Sescentillion

Septingentillion

Octingentillion

Nongentillion

Millinillion

[mmissinglink]

Hey Paul,

 

2,500 years ago silver and gold may have functioned as money but today they don't in any meaningful way for the vast majority of people on the planet. As a point of reference, 2,500 years ago human chattel slavery was also quite popular....today it is eschewed by all civilized societies. Just because in the Bronze or Iron Ages silver and gold or slavery was regarded favorably, doesn't mean that today in the 21st century they are. 

 

You have to pull your thinking out of the bowels of antiquity and step into the present, Paul otherwise you will continue to believe things that have little or no.bearing on reality.

 

Come up to speed, buddy: 

 

http://www.businessinsider.com/gold-is-not-money-2013-4

 

and

 

http://marketupdate.nl/en/freegold-why-gold-is-not-money/

 

 

 

 

 

.

[Paul]

OK thanks for your help

[BaldyBob]

Whether it is gold, silver, or some other substance/commodity, it would be beneficial if future currencies were 'backed' by something.

 

Of course, the Governments and Bankers will not favour anything which would limit their largesse.

 

Interesting times ahead maybe, and I will feel slightly more comfortable with a few oz of PM's under my belt.

[Paul]

the swiss are voting very soon on backing their swiss currency by 20% gold

 

 

some of their nationals reserves are held in NYC and London

 

the same place where germany had its gold held and wished to have repatriated back

 

the swiss people get to vote on all their major issues if sufficient people want it to

 

if it goes through what does that mean for gold?

if they cant repatriate the gold what does that means?

 

 

in short....more holes in the dyke wall appearing 

[mmissinglink]

Money ought not be backed by gold or silver today...it would be a bad idea. Why not back the money by platinum or copper instead? In fact, money can function just fine if backed by the credibility of a solvent government. US Notes (Greenbacks) worked just fine in their day.

 

I'm not opposed to the idea of competing currencies but we have to be realistic about what can function securely as money and what can not, today.

 

The fact the the Swiss will vote on whether or not a portion of their money will be backed by gold is fine and dandy...if it passes that doesn't mean that gold will functions as money there. That's a different era. And would the Swiss actually have enough physical gold in their own vaults to cover for the 20% gold-backed currency issued?

 

 

 

.

 

.

[HelpingHands]

It would need to be repatriated and that's the point.

 

Antal Fekete on today's Keiser Report reckons they'll vote against because that's what most of the politicians and MSM are telling them to do.

[mmissinglink]

Repatriating gold from the Fed Res is the punch line (the joke) that the gold-backed money advocates in Switzerland seem to be truly embarassed about.

 

The facts on the ground are not what gold and silver bugs (day) dream about day and night, it's about what policies are in place.

 

Gold does not now and will not function as money for the average Swiss citizen....just as I have been saying all along.

 

 

 

 

 

.