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lol - i know what you mean.
I bought in at $40 silver and it has gone to $13.50 in the short term, while I have lost value on paper I haven't realized those losses by selling my holdings, so I have that going for me plus I'm in for the long term 20+ years.
The Fed and the administration want the dollar to fall. This will boost exports and make imports more expensive. Holding Silver and Gold will protect your capital.
Yeah, I helped this along too. Just made a deal over the weekend trading some silver eagles. Doh!
I don't know that they want it to fail, but........remember when obama said "no nation should be greater than any other nation" or some such horsecrap? By that statement I think this administration wants the USD to be closer in value to other currencies instead of being the ALMIGHTY USD like the USD should be. More equality of outcome baloney from our communist masters.Quote:
Originally Posted by earplug
I think the administration NEEDS the dollar to fall so they can payback all the loans with dollars that are worth less. I think Obama would further like to hurt US power by devaluing the currency and having the Chinese yuan be the new reserve currency but I suspect the financiers who backed his campaigns are fighting that.
No (D) administration is going to pay anything back, they'll default first. I agree with you on devaluation and that Wall Street is fighting it.
Silver has jumped up nearly 5% to the $17 handle.
I was up a lot last night watching it. We may be starting the run.
Did anyone here buy into XIV when I was talking about it back in Jan/Feb? It got down to $16 then, and today it's $28.50. I know it's not PMs, but since we were talking about it, I figured it was worth an update. TSLA is another stock I'll be carefully watching over the next few months.
Thinking about picking up Amazon. It's over $600/share and should be splitting soon.Quote:
Originally Posted by HoneyBadger