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(Mining)   Supply will soon be unable to keep up for demand for silver, says expert - especially after rubes try to buy it all based on his remarks   (mining.com) divider line 19
    More: Obvious, investment strategist, precious metals  
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799 clicks; posted to Business » on 02 Jan 2013 at 8:18 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-02 08:47:30 AM
hey guyz, silver is up 4% today shortly after open! lets post an article about how that matters to to the long term pricing for some reason!
 
2013-01-02 08:55:06 AM
Rubes, huh?

Well, at least Sprott is putting his money where his mouth is. You do kind of have to expect them to talk up their book.
 
2013-01-02 09:03:00 AM
I love some of those well-chosen phrases in TFA

silver prices will go "ballistic" -After rising in response to some rumor or shock, the price will go into free fall until it splats on the ground.

foresees a raging bull market in both gold and silver - Two investors go in, one goes to the mat bleeding profusely?
 
2013-01-02 09:06:27 AM
Demand is largely irrelevant to silver prices, primarily because the supply is so enormous. In addition, there is not really much in the way of industrial applications for it anymore...other alloys work just as well and are available far cheaper. Sorry folks, nothing to see here but platinum futures.
 
2013-01-02 09:21:49 AM
Really, solar panels and cruise missiles (Ag batteries that use Kgs-worth) aren't industrial applications of silver?

Silver Solder, which is in EVERYTHING electronic isn't an industrial application of silver?

At least photo development chemicals could be recycled, none of those can be in any practical way.
 
2013-01-02 09:29:28 AM
 
2013-01-02 09:40:35 AM

zetar: "...the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later.


^ This. Hilarity ensued last time too.
 
2013-01-02 10:36:14 AM
Really?
Ground Beef $1.39 per pound New York 1980

Food prices from Thanksgiving 1981
http://www.gti.net/mocolib1//prices/1981.html#thanksgiving

Gee, I wish I could get apples for $0.49/lb

See the gas prices from 1980:
http://www.randomuseless.info/gasprice/gasprice.html

Remember to use nominal prices in order to compare to nominal prices from the Hunt Brothers event, back when the US actually HAD a government silver stockpile.
 
2013-01-02 12:16:02 PM
oooooooooooooohhhhhhhh should go to coin shop today er tomorrow, they sell at spot plus a buck or so plus local sales tax

/loves silver
 
2013-01-02 01:21:42 PM
@Kittypie070

You pay spot + $1 for constitutional junk? It should be like at or just under spot.

Also, depending on the state, if you buy more than $1k worth at a time it counts as an investment and there's no sales tax. It's that way in NY and TX that I know of offhand.
 
2013-01-02 01:53:26 PM
Silver is something you invest in for savings purposes, you won't make much more than you put in when you sell it off. The appeal is that compared to Gold is relatively cheap to buy a large quantity up front so if there IS a spike in prices you can make that much more. Of course the flipside is true as well.
 
2013-01-02 02:55:00 PM

Balchinian: Demand is largely irrelevant to silver prices, primarily because the supply is so enormous. In addition, there is not really much in the way of industrial applications for it anymore...other alloys work just as well and are available far cheaper. Sorry folks, nothing to see here but platinum futures.


You know, two months ago I would have agreed with you. But now the SEC has let companies publicly hoard and speculate on physical stockpiles of copper. Copper is, as you know, the primary metal component in virtually every electric and electronic product ever produced on the face of the planet. Manufacturers who use copper are screaming bloody murder, that this kind of speculation will drive up prices so much that not only will entire industries grind to a halt from lack of supply, it'll destroy parts of the world economy all by itself.

Fortunately, silver has some commercial applications. The GFGL electrical outlet in your home? That uses bits of silver. It doesn't work as well as gold, since silver tarnishes and fades with potency over time, but it does work. Expect to see less copper and more silver used in future products.
 
2013-01-02 03:02:09 PM

Valarius: Balchinian: Demand is largely irrelevant to silver prices, primarily because the supply is so enormous. In addition, there is not really much in the way of industrial applications for it anymore...other alloys work just as well and are available far cheaper. Sorry folks, nothing to see here but platinum futures.

You know, two months ago I would have agreed with you. But now the SEC has let companies publicly hoard and speculate on physical stockpiles of copper. Copper is, as you know, the primary metal component in virtually every electric and electronic product ever produced on the face of the planet. Manufacturers who use copper are screaming bloody murder, that this kind of speculation will drive up prices so much that not only will entire industries grind to a halt from lack of supply, it'll destroy parts of the world economy all by itself.

Fortunately, silver has some commercial applications. The GFGL electrical outlet in your home? That uses bits of silver. It doesn't work as well as gold, since silver tarnishes and fades with potency over time, but it does work. Expect to see less copper and more silver used in future products.


Seems to me that metals with practical uses for them are poor choices to base ones currency on, especially if one were to... actually need to use those metals. Can't really spend silver that's a part of your computer's processor, can you?
 
2013-01-02 03:03:17 PM
BTW I realize we haven't had any commodity nuttery in this thread yet; just wanted to head it off before it comes in here.
 
2013-01-02 03:28:45 PM
Funny stuff. Hearing John Embry say this about precious metals is like having Chick-Fil-A's Truett Cathy rant about running out of chickens. The PM bubble won't last forever, so I'm sure he's just a wee bit nervous.
 
2013-01-02 04:33:58 PM
http://www.wbng.com/news/video/Truck-Carrying-Silver-Crashes-183797061 .html

Yep, the Silver bubble exists. It's an upside-down (suppression) bubble. Fiat funny money is the actual speculative bubble.
 
2013-01-02 06:56:07 PM
As long as the Fed is printing 85 Billion every month out of thin air, silver, gold and the stock market will continue to rise.
 
2013-01-02 07:48:45 PM

Spare Me: As long as the Fed is printing 85 Billion every month out of thin air, silver, gold and the stock market will continue to rise.


Well, not  quite thin air, but Crane & Co. is sadly not publicly traded. :(
 
2013-01-03 10:39:33 PM

dynomutt: @Kittypie070

You pay spot + $1 for constitutional junk? It should be like at or just under spot.

Also, depending on the state, if you buy more than $1k worth at a time it counts as an investment and there's no sales tax. It's that way in NY and TX that I know of offhand.


Excuse me, dog?

A) These are one troy ounce .999 rounds.

B) I haven't been able to nab any junk silver locally because all the other god damned local yokel bunker-dwelling yellow-bellied dicky birds had gobbled it up at least four to five years before I was even able to afford picking up silver.

B subsection 1) Like f*ck will I ever purchase junk silver over the Net.

C) Don't make stupid ass-umptions.
 
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