Silver price

[Dixie Dude]

Another reason for the gold an silver markets to be down.  Cyprus said they are going to sell their gold and silver reserves to pay off some national debt.  Italy, Spain, and Portugal are considering doing the same.  Lots of gold and silver about to be dumped on the market by countries in a lot of debt.  This drops the price.  Now would be the time to buy.  The stock market is being held up by the Federal Reserve (QE) buying stock to pump up the market.  Of course, that only helps temporarily.  When we crash within the next 2-3 years, gold and silver will go up.  If I buy some, it will be the actual coins, not pieces of paper saying I have some.  Texas and Utah are stockpiling gold and Utah has approved gold as a means of exchange.  Eventually a lot of states will do this as an alternative to the dollar.  Also, the Federal Reserve is buying $1 trillion in US bonds a year to keep the government afloat.  China has a little over a trillion, so does Japan and various other countries.  The Feds have the most.  No one has ever audited the Federal Reserve completely.  How much do they have?  The Feds are nothing but a place for all the banks to pool their "resources" and control the money supply.  Not really part of the Federal government.  Chairman and board members are appointed by the government, but really, not the government. 

[mcwoodduck]

Dixie,
Gold and silver were headed back up last night.  the drop spawned more buying.
ANd yes I buy hte actual coins or bars.  I want ot be the one that sells shares in gold and silver.
Look I have a $ million in gold and silver would you like to buy shares?  Since gold and silver are stable they invest and I buy more, at the point that everything collapeses I now have $2 million  of silver and you have paper, sounds good to me as long as I am the one holding the silver and not the paper. 

[BBF]

I found it rather curious that the Cyprus Govt. had no compunction to "rob" their citizen while they sat on a bunch of Gold worth multi millions of Euros and sniveling for more bailout from the EU bank.
 

[SHOOTALL]

silver is used in contactors and disconnects and other contact points. So it may follow the market of those products. China has adopted the copper standard I hear.
 But even though prices have risen inflation would need to rise to cause the price of silver to rise. I think silver is linked more to inflation than Gold is. I see gold as an investment that can increase for several reasons where silver tends to move with inflation. 
 
 

[Buckskin]

Both gold and silver are basically back to where they started this morning.  Silver seems to pretty much mirror gold, at least in the last 100 years.

[gcrank1]

Before the doubling of the money supply back at QE-1 the dollar was worth about 2.5cents compared to what it had in real purchase power back before they made owning gold 'illegal' the first time, but then we were still on the 'gold standard'. That ended in 1971, and since then we have seen what inflation does to our purchase power, the only real measurement of our money. Now with them having introduced a bunch of that money into the economy we are seeing some of the result, but have no illusions, that dollar that we were used to having at a 'real 2.5cents' is now worth 1.25cents so everything Ive saved in the last 40yrs is worth pretty much diddly.
Happy retirement.

[hillbill]

Greybeard,
If the economy fails, people will take silver and gold for payment on things you will want,  If the economy fails finding steel, aluminium, and copper will not be hard.  There is enough steel in my car to melt and make what I want,  The hood and the trunk lid are about perfect to make arrow heads out of with a pair of tin snips. same with the Alimiuium wiring in the car and the copper wire in the electric motors like the generators.  I am not sure where I can find silver or gold just sitting on the side of the road waiting for me to whack it with an axe and use a pair of tin snips and peal out what I want or need.

 
im not so sure about the first part you said. it may be that ammo, food, raw lead, farm animals,seeds and simple garden tools may be of more use than gold.

[mcwoodduck]

Greybeard,
If the economy fails, people will take silver and gold for payment on things you will want,  If the economy fails finding steel, aluminium, and copper will not be hard.  There is enough steel in my car to melt and make what I want,  The hood and the trunk lid are about perfect to make arrow heads out of with a pair of tin snips. same with the Alimiuium wiring in the car and the copper wire in the electric motors like the generators.  I am not sure where I can find silver or gold just sitting on the side of the road waiting for me to whack it with an axe and use a pair of tin snips and peal out what I want or need.

 
im not so sure about the first part you said. it may be that ammo, food, raw lead, farm animals,seeds and simple garden tools may be of more use than gold.

Gold and silver have been used as money for about 3500 years.  I see no reason why it would not be taken as a standard of barder in a post economic system.  Yes other items would be traded much like in history, where goods were traded from one to another, but how do you trade me 300 savage ammo you have for something I have you need or want if I do not want the 300 savage ammo?  and this has been the reason gold and silver has been used as a form of barder for so long.    After all how do you trade Salt to the salt miner as payment? 
Do not get me wrong there will be  lots of trades going on, there will be lots of things you have pelenty of that others will want, and things they have that you may want.  I figure Small hand tools like leather man style tools, axes, and knives will be in high demand as well as any forms of fire arms and ammo as well as food stocks and seeds.  I have been stocking up on ammo, small tools, seeds, and other items like candles and matches that will get me through an emergency. 

[vabeachman]

Agree with Hillbill. I've been going to the fishing flea markets and buying lead sinkers.  Plus my brother and I have some old time horse harnesses and some old style farm equipment that works off of the wheel axles, does not require PTO.  The Amish up here pay premium prices for that kind of equipment and it is getting harder to find. Gold and Silver are nice but I rather spend my money on more practical (to me) stuff.  I would not give up food, ammo, etc for gold or silver. I can live without them.

[gcrank1]

PMs are for 'preservation of wealth' to exchange in part or whole to whatever the exchange rate to the currency in use will be. Your wheelbarrow full of paper dollars wont get ya much......or it never has in the past when these same fiat money policies have been tried.
You are right on the value of those stated items, and a attic full of TP may be good trade stock, or if not its good insulation and you can always use it.

[SHOOTALL]

you can't eat gold or silver so Hillbilly has a good point. 22 bullets might be the exchange standard in the post crisis world. They will be what is on hand and every shot taken will reduce supply causing value to go up.
 Lead , the flint lock and knowledge to make black powder might make a man comfortable if not rich in such times. Of course that is if there is game to hunt.