this is why I keep saying to just buy and hold.....nobody can predicit the day to day price moves so best to buy and forget about it until the time eventually comes to sell!
has it ever occured to anybody that QE 3 is already happening but that uncle ben wont tell anybody yet? He knows that if he announces QE 3 then the dollar will get smacked so I am willing to bet that QE 3 is already underway....it would explain why so many commodities especially oil are still rising!
I have contended this for several weeks , prompted by our borrowing from our Central Bank being twice extended . First we borrowed an extra £75 billion which quietly disappeared and then another £50 billion was mooted . I assume this went to the Banks though I got confused when the ECB came into the game by launching their own three year QE programme . I am not convinced Barmy Ben has yet done anything but I thought he slapped Congress in order to leave the way open for his panacea later in the year --- three or four months before the election -- or is that too crude and cynical?
This is probably far fetched and drivel , BUT Through the ECB scheme , Banks have borrowed one trillion euros so far . They did not seem to need all of that , either as funds for Greece or as part of a future Fire Wall once other countries start imploding . Suppose those funds have largely gone back to American Banks as a thank you for the loans made by the Federal Reserve to many EU banks three and four years ago ? This avoids Ben having to march through blanket condemnation now and leaves a breathing space before his next piece of "Fiscal Stimulation" ?
That's a very good point. It certainly would explain the growth in commodities and the markets lately. And Peter Schiff and Jim Rogers agree with you (apparently): Peter Schiff : Secret QE3 by the FED ongoing 'Peter Schiff : "They're doing QE3 whether they state it or not," "If the Fed admits it's printing all this money, then the dollar is going to fall even faster [and] oil will rise even faster. The Fed wants to create inflation, it just doesn't want to be forthright about it." "The economy is doing lousy," he says, dismissing Wednesday's upward revision of fourth-quarter GDP and declaring inflation as closer to 10% vs. 1%. "The economy is contracting, that's one of the reasons there's no jobs."' http://peterschiffchannel.blogspot.com/2012/03/peter-schiff-secret-qe3-by-fed-ongoing.html Jim Rogers : We already have QE3 'Jim Rogers : We already have QE3 ... Get out the Federal Reserve's balance sheet. You'll see that they've been pumping up you can see unadjusted M2 is going through the roof. Look at their balance sheet. ... All sorts of assets are suddenly appearing on their balance sheet. Where did they come from? They didn't come from the Tooth Fairy; they came because they're in there buying in the market as fast as they. There IS QE3 already. They don't call it that but it's there. in Reuters' http://jimrogers1.blogspot.com/2012...ampaign=Feed:+blogspot/WOHK+(Jim+Rogers+Blog)
LOL great minds think alike......I was thinking the same thing like perhaps its a backdoor form of QE 3 where perhaps the ECU borrows dollars and in turn uses some of those dollars to buy up some treasuries also along with greek debt....as you say....a thank you for uncle ben's allowance for loaning at only 1% interest.
Silver closed out the week at $34.24/oz.. That's down $1.11 (or just over 3%) for the week. http://silverprice.org/silver-price-history.html
Huuumph It's giving me short term indigestion . Same fundamentals apply but it is still aggravating .
Well, that is the roller coaster that is silver. Long term looks great (to me). Short term? I have not a clue.
Medium term we need to look at any war with Iran which will send oil and the metals up to unheard of levels. Since this conflict looks inevitable I'd say that both Gold and Silver are looking good value at the moment.
add to that Bernacke's monetization and zero interest rates and you have the perfect storm for higher prices!
Silver closed out the week at $32.51/oz.. That's down $1.73 (or just over 5%) for the week. http://silverprice.org/silver-price-history.html
Silver closed out the week at $32.11/oz.. That's down $0.40 (or just over 1%) for the week. http://silverprice.org/silver-price-history.html
Silver closed out the week at $32.22/oz.. That's up $0.11 for the week. http://silverprice.org/silver-price-history.html
Bernanke Says Prepared to Do More After Policy Unchanged 'Federal Reserve Chairman Ben S. Bernanke said the central bank stands ready to add to its stimulus if necessary even after leaving its policy unchanged today and upgrading its view of the economy for this year. We remain prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target, he said at a press conference today following a meeting of the Federal Open Market Committee in Washington. Additional bond-buying is still very much on the table.' http://www.bloomberg.com/news/2012-...-will-pick-up-gradually-policy-unchanged.html
Every time Uncle Ben opens his mouth it causes violent moves in the price of silver. We've seen some wild fluctuation over the last couple of weeks - 2% range trading on a daily basis. Not for the faint of heart and it's not a market that obeys the fundamentals of supply and demand. Anyway I was wondering people's opinions on which direction the price could be headed in. The "gurus" are of mixed opinion right now with some bullish due to negative sentiment and others wary of the situation in Europe. At the moment we have a stand-off as people wait to see what happens in the French election and how the situation in Spain unfolds.
Personally, I think silver will be relatively flat or decline until more cheap money is poured into markets. But I am no expert.
News in Europe may see the Dollar gain in the near term. Silver price is around $29.90 as I type and a lot of people have been scared out of the market. It's when sentiment is this low that things look brightest. The metals are still the only REAL safe havens.
Hopefully not too many folks bought it at $49/oz based on claims made around here that it had nowhere to go but up.
There are a few constants in the universe, one of them being, that silver's going to skyrocket at any moment.. and? perhaps, as has happened with Gold (I remember when G was 32/oz) it will - maybe even tomorrow.. however, meanwhile, unless you're perhaps, a close buddy of David Rockefeller or his friend Jacob Rothschild (who just formed a merge) http://www.economicpolicyjournal.com/2012/05/rockefellers-and-rothschilds-to-unite.html it's really very difficult to see the future.. especially within markets whilst using the hindsight of the past..
It all depends on your time frame and method of purchase. If you are buying SLV, depending on when you got in, I'd sell at the next big breakout, probably around up to 36, 37 dollars. If you are holding coins, hold them and keep buying. Silver is different than gold, its actually used, so it will tend to fluctuate even more than gold. More a commodity feature, but very tied to inflation as well. Near term, both gold and silver are very volatile, but longterm, pretty sure they will all be higher.
Coins are nice because you have the collecters value of the coin as well as the silver value. I used to buy rolls of half dollars...take out the silver and sell the rest back...but after a while the return was not worth the trouble.
