Gold/silver thread

[EcoSafe]

i think its time we start a G/s thread for those in the E scrap business.

We have several people on the forum like Baren, Knoble , Mario and others who make it their business to study that market.



all their info can make us or break us, so I think its time we , as a family and friends pool all our info in one place to try to save our a**s.

I'm a small timer sitting on 1200 lbs of boards that I paid $2.50 for but ,it is all relative to each particular situation. This 1230 lbs could sink me. 12000 lbs or 200 lbs could sink some one else.

lets put our sources and info together so we can all paddle in the same direction, the current is getting pretty strong out there. Just my .02

[EcoSafe]

Opinion:am I off track.

several months ago Goldman scats (sacks). predicted $1100 gold by the end of the year.

the problem with this is they and their 11 other cronie Banksters have the power (money/ control) to make it happen.

while you and I (small timers) are dependent on the price of physical gold scrap, they are manipulating the market in worthless paper gold, then taking their profits and buying physical gold driving the price down then stocking up on the real thing.

[auminer]

This isn't a prediction, I don't make those, but I will say that I would try & be prepared for gold to fall to $700 worst case. If you're prepared for that, you oughta be fine since I don't think it's A) likely to fall that low, and B) it's not likely to stay there if it does fall that low. If gold ever falls into the 600s I'd sell my house to buy physical gold. LOL

Silver I have no effin idea about. I've read stories that say single digits are possible. Silver is less critical to most ewaste, anyway.

Above all, remember that all those stories you read are based on the writer's opinion at best, and their agenda at worst. In any case, you're only getting the stories that whatever news outlet you're using thinks will draw the most eyeballs. I know of no news website that is actually in the business of informing people... they're all in the business of selling advertising.

All my years in the equities trading business taught me a few things. Probably the most important was to never hesitate to admit when you're wrong. NEVER add money stubbornly to a losing position because "Dammit I'm RIGHT". That'll send you to the poorhouse with a hurryupness.

In closing, I'm not Keynes' biggest fan, but one thing he nailed dead to rights: ""The markets can remain irrational longer than you can remain solvent.""

[BarrenRealms007]

Right now I don't see any resistance for a bottom. I hope we get some before it goes under 1,000. You get a few players like Buffet that wants to jump in and play and take physical delivery it could start gathering support. You let silver drop to single digits then you could have another Hunt brothers picture show up anything can happen.

It might be a good time to buy stock in the makers of antacids right now.

[EcoSafe]

great posts, exactly the type discussion I had in mind.

[41haikuwarriors]

I too believe this is higher level manipulation. A chance to drive the prices down and buy low for the big players who are able to do so. There probably isn't enough resistance from the rest of population together to stop them from letting it go as far as they want it to. It's showing a little resistance today after the drop below $1200 yesterday, but who knows. I am looki g at it as a time to heavily invest while prices are going down. I will continue to buy silver rounds as long as the price is below $20, if it gets to $10 ill double my purchases. I think this could be a good opportunity for some small time players to stock up.

[Victor]

I wrote this yesterday in the Gold Price Dropping thread in Scrap Metal Pricing section of the board:

"Freaking waterfall for sure. This thing is really rolling up on itself now. I am sure alot of margin selling going on. Just an opinion but I am seeing an 1150ish target on a few charts. If that doesn't hold to the down, it could get way radical as the next strong support seems to be in the 680ish area.

Silver....we seem to be in a target area right now. If that fails, we are seriously looking at possible single digit pricing.

Stay frosty.

Don't take this as investment advise. Do your own DD, etc.....etc...."

[BRASSCATCHER]

With no progress on stemming the increase in interest rates on student loans from our elected leaders, and with the short week coming up for wall street any bounce today are those that are buying at what they think is the low point hoping to dump it at a quick profit later in the day.. Watch the early trading charts Sunday night into Monday morning. By then we might get an idea if the slide is over or not. I say it is IF there is no eleventh hour deal by congress to stem the increase interest rates. And if you think that the big bankers are going to let that happen I have a bridge in Brooklyn that I can sell you real cheap. The money has been passed under the table already and there is no going back. What we are seeing is total manipulation of the gold market. If I had $100,000 not doing anything I would buy as much gold as I could get on Monday morning as long as what I stated above holds true. JMHO.

[4barrel]

olddude, I'm in a similar boat right now - holding every board I get and waiting for the market to recover. Luckily since all my inventory comes in for free I'm not sitting on an investment, just filling my shop until I'm ready to cash in. I agree with the above posters, paper gold is driven down to who knows how low while those with the money to buy physical are buying all they can.

[webuyselltradestuff]

I see these threads all the time...hoarding because something dropped....there is a thing called dollar cost averaging...meaning even as something drops in price and you buy lower accordongly, you still make money.

The point is...unkess you are REALLY underwater on stuff you have...why have you not sent them in already? I send things in as soon as I get a box...even 20 lbs...keeps me from gettung hit ansld chasing tue market...I can take that money, buy more escrap or probably stuff at yard sales ect and have dpubled my money several times before you send in those boards since the "matket came back". Who cares if I dont maximize whatever...I make that up by flipping the cash 2-3 times in the meantime. Granted there is an amount of diminishing returns...but I could have bought something else..gotten a larger trailer or just gotten more stuff. I guess my point is dont chase the market and get caught waiting for something to come back...get it in, sell it off and do it again....works better that way.

[unknownk]

olddude, I'm in a similar boat right now - holding every board I get and waiting for the market to recover. Luckily since all my inventory comes in for free I'm not sitting on an investment, just filling my shop until I'm ready to cash in. I agree with the above posters, paper gold is driven down to who knows how low while those with the money to buy physical are buying all they can.

Your boards have PHYSICAL gold in them, yet they are going down in value, how do you explain that?

It took 30+ years for gold to recover (most but not all) of what it lost in the 1980's, how long can you wait it out?

Don't forget people who are dumping their gold always tell others to keep theirs and wait for the rebound.

[EcoSafe]

the selling of massive amounts of paper (worthless) gold drives down the price of physical gold.

OPINION:If we have hyper inflation because of the drop in confidence in it world wide, does any one really believe the banksters will bail out the paper gold sellers and sent them physical gold so they can send it to the holders of paper gold. Paper gold like paper money is just a promissory note (debt note).

[EcoSafe]

A few short years ago there were 3 main players on the world economic/manufacturing stage, America, Japan and Germany. Then there was of course the English/German/American/Swiss Banking cabal.
about 20 years ago Korea and China began to steal Japans electronics manufacturing base along with Americas manufacturing base and tech from both.

At the same time one of our presidents (not named because it is non political) ok the sale of computers and programing tech to China giving them open access to advanced computer tech along with MIRV guidance systems. In a short while china buried Japans E market so they in turn buried Americas auto business.

Germany had gone through hyper inflation before and 10s of thousands starved, or froze to death.

They learned from history, we did not. Also their quality manufacturing industry is so respected no one can compete with German engineering and manufacturing quality.

Bear with me I'm getting there .

America began to printing un backed fiat dollars. Japan soon followed. and british, American and Swiss bankers looked the other way and actually encouraged the process until we were all trapped in that process.

along came no dock loans/directives and the housing bubble and bust, followed by bail outs with trillions of dollars backed by nothing but the paper they were printed on and world faith that the American people would work hard and pay back the money and of course Japan followed Americas model. Germany having been through it all before didn't.

The Bankers watched carefully and saw us all swallow this with out much notice. they along with some citizens began to hedge their bets with physical gold/silver.

About6 4 or 5 years ago, the Banksters figured out that if people would go for paper dollars backed by nothing then maybe they would buy paper gold backed by nothing.

Japans new president just authoeized the printing enough Yen to equil 100% of Japans GDP.

welcome to America, Japan, and the European union June 29th 2013.

this is not speculation its all documented history. The banksters have learned through trial and error that most will buy worthless paper gold and they use that to drive the market down the, turn around and use your money to buy real gold.

thats my take.

[ITBoneyard]

I tried six different ways to start my comment, but was invariably lead down a thousand avenues of thought.

Suffice to say this; The US dollar is a rigged game, and everything that is traded in those dollars is rigged. Rig away Uncle Ben, print those greenbacks 'til your hearts content, play your little game 'til the clock strikes twelve..., for when the music stops, those with things of real value will be the only ones with a chair.

What is of real value? Ask anyone from Zimbabwe who carts a wheelbarrow-full of fiat notes to the poorly stocked market. He'll tell you it's the loaf of bread, the gallon of clean drinking water, or the goat that provides his family with milk.

It doesn't take a rocket surgeon to realise that an un-backed fiat currency is a recipe for disaster. Not if, it is when. I think it is better to have gold and silver, no matter the current whimsical 'price', the more the better.

[unknownk]

From what I recall we have more bumps using gold and silver to back our money then we do with paper.

http://images.mises.org/SeanMaloneRi...llarMedium.jpg

[mikeinreco]

Seems to me about the only thing worth anything are guns, ammo, food, and shelter

[Ecycle Atlanta]

Seems to me about the only thing worth anything are guns, ammo, food, and shelter

HAHA...so true! You must take your survival lessons from the same place I do, The Walking Dead! Seriously though, think about it. Some television people decided to sit down and do a show on the zombie apocalypse. They probably sat for hours thinking of plot lines and imagining what people would be dealing with in a time of utter disaster, when everything they had known and trusted in failed. If you watch the show, you will see how the entire premise (besides killing zombies) is predicated on finding food and shelter, and protecting it from those that want to take it away. Nothing else matters. Gold and silver are meaningless, and the only other worthwhile commodity might be gasoline. Ok ok, I know its just a tv show and may be a bit extreme to use as a parallel, but to echo a point made above, if our economy shatters, the only things worthwhile will be tangible goods that we can touch and feel and are useable. Without going totally extreme, there is no harm in having a small stockpile of such goods. A weapon and ammo, stockpile of some can goods and water, possibly some metals like gold, silver copper and lead (gotta make those bullets), and a tent and blankets. Come to think about it, I have all those items around me as I use them for camping and hunting.

But....this is a thread about gold. Sorry for the digress

[BroJer]

Seems to me about the only thing worth anything are guns, ammo, food, and shelter

Add a stockpile of wood, my ole Aunt Ollies PeePot...yep, imma gud

still got a pot to pee in ;-)

[ginofrater]

Gold, which began the month of June at more than $1,400 an ounce, crashed through the psychologically important $1,200 barrier on June 27, reaching its lowest level since June 2010.

At press time, the metal's spot price had recovered to $1,225 an ounce.

Today gold prices

Gold Price in US Dollar, Silver Price in US Dollar and Charts in US Dollar - Live Market Prices

[travistemple202020]

im with you auminer if gold falls that low I will sell everything I have to buy everything i can i am only 31 and in my lifetime alone i have proved most everyone around me wrong while they lose there asses off or sell to soon and other reasons i have waited and sold only at better times never fearing because of the fact that it will rebound and patience is something you must have in the gold/silver market. i am small potatoes vs. others but i have made 1 of 2 goals i surpassed my 2000oz silver mark which i am more of a silver person than gold because its cheaper and more things i can afford to be made from it like my 1oz silver bullets collection but i am almost to my 100oz gold mark right now at 87oz's which maybe this last 13 will be unlucky but has not be so far. this is all made possible by people throwing things away or selling them cheap to rid themselves of it and buying right now is awesome cause prices are so much lower i myself am focusing more on cpu memeory and such for higher value in the future but i do not have lot of space but i am happy to fill my garage up with money cause saving it in the back sure does not pay to do lol