Bullionstrut

Pundit

does anyone on here fusk with some precious metals? i've been hearing a lot of random chatter lately from ppl about how silver is about to blow up which has given me cause to think about picking up a few bars of AG. The reasoning i've heard seems sound enough - economic flight to gold and silver standards post credit crunch, industrial demand outstripping global production, new pool funds opening up that are chewing up a lot of the free silver on the market. Gold has done well since about 2004 and i've heard ppl suggest the gold/silver ratio could drop from 65 to 15 in the next year or so, meaning an oz of silver will cost 1/15th the price of an oz of gold. That would mean an increase from $18/oz to $80. Seems a bit unrealistic given the historical prices, silver has been more volatile than gold but generally stayed within a range of 3 or 4 dollars but i've been reading about talk of an impending 'generational leap' in the price. Leaving imaginary money in fictitious bank account seems less attractive these days, at least with bullion you can use your money as a paperweight or something and if god forbid your house should burn down you can always sift through the wreckage and still sell it.. can anyone chime in on this topic?

Reynaldo

The cons are the taxes associated with selling it, and if the dollar/system really collapses and things go Road Warrior/Zimbabwe then protection/guns/practical skills will trump gold. And the illiquidity. Diversify.

Pundit

maybe i should stock up on kfc refresher towelettes and copies of the bible..

brokenrecord

I thought this was 'Bunionstrut' at first.

Reynaldo

Pundit said:

maybe i should stock up on kfc refresher towelettes and copies of the bible..

Right now I'm stocking up on oak firewood. People with downed trees are giving that schitt away. You just have to cut it and haul it away--and have the right stove to burn it in for proper heating effect.

Pundit

what's the tensile properties like? good whittling potential for crossbow shafts? i imagine this would be a factor

dollar_bin

Canned food and shotguns.

smoking_robot

Pundit said:

does anyone on here fusk with some precious metals? i've been hearing a lot of random chatter lately from ppl about how silver is about to blow up which has given me cause to think about picking up a few bars of AG. The reasoning i've heard seems sound enough - economic flight to gold and silver standards post credit crunch, industrial demand outstripping global production, new pool funds opening up that are chewing up a lot of the free silver on the market. Gold has done well since about 2004 and i've heard ppl suggest the gold/silver ratio could drop from 65 to 15 in the next year or so, meaning an oz of silver will cost 1/15th the price of an oz of gold. That would mean an increase from $18/oz to $80. Seems a bit unrealistic given the historical prices, silver has been more volatile than gold but generally stayed within a range of 3 or 4 dollars but i've been reading about talk of an impending 'generational leap' in the price. Leaving imaginary money in fictitious bank account seems less attractive these days, at least with bullion you can use your money as a paperweight or something and if god forbid your house should burn down you can always sift through the wreckage and still sell it.. can anyone chime in on this topic?

i would simply buying on the futures market rather than actually purchasing the metal itself.
it will be a lot easier to sell when you need to get rid of it. i cant imagine there's a high demand for actual gold bullion (sp?) making it such that even though the price of gold (as indicated by the market) can rise, the actual dollar price you can fetch for actual bullion will be below market value.

unless you're really saving it for this apocalyptic scenario?

DJ_Enki

brokenrecord said:

I thought this was 'Bunionstrut' at first.

I thought it was going to be about soup.

Brian

lol @ recommending gold futures

DOR

Sounds like you need to diversify. In-out, get, grab BONG.

Chappelle's Show - Wu-Tang Financial from Masta Killahhh on Vimeo.

pcmr

DJ_Enki said:

brokenrecord said:

I thought this was 'Bunionstrut' at first.

I thought it was going to be about soup.

seriously i had my broth shit all ready to post

Pundit

that gap between the red and blue is supposedly where the money is to be made as it's supposedly going to correct itself in the next year or so. Even in a post apocalyptic scenario surely there'd be enough superstitious folks that silver reserves could be traded for making bullets in exchange for drinking water/working ipods etc I was merely looking at an investment to put a lazy 5 grand or so in, but i do like to consider all of my options

edit: nevermind i can't get the picture to post..

dollar_bin

Pundit said:

that gap between the red and blue is supposedly where the money is to be made as it's supposedly going to correct itself in the next year or so. Even in a post apocalyptic scenario surely there'd be enough superstitious folks that silver reserves could be traded for making bullets in exchange for drinking water/working ipods etc I was merely looking at an investment to put a lazy 5 grand or so in, but i do like to consider all of my options

edit: nevermind i can't get the picture to post..

which one is red and which one is blue?

Pundit

red is silver, blue is gold, gold has already blown up from 300 to 1200 since 2004 whereas silver is yet to catch up, which it usually appears to have done in the past.. i think spot price of silver cracked $17.50 for the first time in april this year and has bounced around the 17-19 dollar mark since then but ppl believe it's gonna move up to the 30-50 dollar mark sometime in the next 12 months or so..

(that chart is a year and a half old - silver is 18.20 today and gold 1150)