Silver and Gold about to explode
- Joined: Feb 26th, 2008
- Posts: 485
If you've been following the news this week, then you will know that China has massive positions on gold and silver on the COMEX exchange. The Chinese have recently stated that they will renege on these contracts. This is threatening to collapse the entire gold and silver exchange ponzi scheme.
The gold and silver trains are leaving the station. If you have any wish to protect your wealth then you better get on before it's too late.
You can buy gold and silver at Bank of China and various other banks in the city. Do it now, you might not get another chance.
Floating Derivatives In Uncertain Waters Increases Risk of Drowning: http://www.theinternationalforecaster.com/International_Forecaster_Weekl...
bigsmile
Re: Silver and Gold about to explode
Damn it, just saw your post!
What are you buying now, Anon? Almost everything is hardening now, stocks, food, housing...
Give me a hint. Thanks.
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Anon
Re: Silver and Gold about to explode
Silver.
It's really undervalued.
You can also try wheat, corn, rice and sugar. This year India had the worst monsoon rains in 40 years. India relies on the monsoon for 60% of it's farming. North China is in a drought and farm production has been going down for years. In the US, Congress has blocked access to a river (to save a small fish) that supplied California farms with water. This area of California is where most of the food in the United States is grown. Philippines was also hit by a typhoon and it's farms were damaged in the flooding.
Based on all those things, 2010 could be a year of rising food prices.
Indian sugar fears rain, frost after monsoon heat : http://article.wn.com/view/2009/09/03/Indian_sugar_fears_rain_frost_afte...
ABC: Judge Cuts Water to California Farmers to Save Endangered Fish: http://newsbusters.org/blogs/brad-wilmouth/2009/03/31/abc-judge-cuts-wat...
bigsmile
Re: Silver and Gold about to explode
Thanks, Anon. So you meant futures? What about physical(silver)?
If global economy warms up in 2010, silver, as an important basic material of many industries, will value higher, I agree. But it is not a hard currency like gold. Short term investment?
I heard futures are very risky. Haven't tried that. How's your experience?
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Anon
Re: Silver and Gold about to explode
Try to get physical silver and mining stocks. Silver is also a hedge against inflation. It is sometimes called “poor man's gold” for this reason. Traditionally silver price has been 15 times cheaper than gold. Right now silver prices are over 60 times cheaper than gold. Even though silver is usually an industrial metal, it also can take some hard currency properties of gold bullion. I don't believe the economy will improve in 2010. In fact it's going to get worse.
Obama himself just mentioned that the US is headed for a “double dip recession”. Other economists like Bob Chapman, Peter Schiff, Marc Faber, Webster Tarpley and many others are predicting a complete collapse of the system (Depression). With unemployment at 17% (some estimates point to 22%), we are heading toward a Depression. It will be an inflationary depression, the dollar will be completely destroyed.
The stock market and real estate are being propped up by the stimulus money. It is nothing but a bubble waiting to burst. I think many department stores will have a sour Christmas this year. Walmart might do well, but high end stores will suffer greatly.
The media won't tell you, but every week some small banks go under. The FDIC is broke, it cannot insure the banks. If you watch the news, you'll hear of a “jobless recovery”. There is no recovery, unless they get another stimulus of around $600-$700 soon, the economy will collapse.
I suggest not keeping too much money in the banking system and definitely not keeping your gold and silver there. In times of crises governments have prevented citizens from accessing their bank accounts. I believe this could happen again.
Iceland is the future of the United States. If you want to know what will happen, just look at their economy.
Potential For Fed To Hyperinflate: http://www.theinternationalforecaster.com/International_Forecaster_Weekl...
UPDATE 1-Small Florida bank fails, brings year tally to 124:
http://www.forbes.com/feeds/afx/2009/11/20/afx7146964.html
INTERVIEW-Euro Pacific's Schiff says $5,000/oz gold "likely": http://www.forbes.com/feeds/reuters/2009/11/30/2009-11-30T190403Z_01_N30...
The Shadow Government Statistics real unemployment: http://www.shadowstats.com/
The Money Masters (documentary produced in 1995, but very relevant today): http://www.blinkx.com/video/the-money-masters-part1/L9orucSy5Xq_MqC-BY9O...
Anon
Re: Silver and Gold about to explode
Sorry, I have no experiance trading futures. So I cannot help you there.
wefrucar
Re: Silver and Gold about to explode
We're headed for a nasty stagflation.
The markets have probably peaked for at least the rest of this year.
Sometimes I feel it is maybe unbearable always be traditional Chinese girl.
bigsmile
Re: Silver and Gold about to explode
I am already very thankful, Anon.
Will come back with questions later. Good appetite!
1:6.79
bigsmile
Re: Silver and Gold about to explode
So mining, grain, seed, agricultural stocks?
Why don't you try futures? What's your view? All my friends persuade me from touching futures. What's going on?
It's complicated to buy international stocks since I am a Chinese. Must open an account in HK I heard. Did you buy any local stocks?
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wefrucar
Re: Silver and Gold about to explode
Futures are very dangerous and not to be done by casual investors.
Aside from unpredictability/volatility, the main reason is this: if you buy a stock, the worst that can happen is the company goes bankrupt and you lose all your money. If you buy futures, you can potentially lose all your money AND go into debt - overnight.
Doesn't happen often, but why take that kind of risk when you don't know what you're doing?
Unless you really know something, I advise buying ETFs. Takes a lot of chance out of the equation.
Sometimes I feel it is maybe unbearable always be traditional Chinese girl.
bigsmile
Re: Silver and Gold about to explode
I have open-ended funds. Haven't touched any LOF or ETF. FOF requires much bigger investment. Still the same question, anyone pls give a comment on local stocks, LOFs, or ETFs, or any other stuff you just name it?
I am terrified. Earning more, leaving less.
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Anon
Re: Silver and Gold about to explode
You mention you are terrified. It's always important to do something with a positive state of mind. Do what you feel is right and you will find success. Take full responsibility of your life.
Just look inside yourself and you will see that this is indeed a world of abundance. I cannot comment on local stocks. But I can say that owning physical gold and silver will help you out in the future.
I don't trust ETFs. Many economists have reported that there is more paper than actual gold on ETFs. Many of the ETFs are not backed by gold. It's nothing more than a ponzi sceme (scam).
bigsmile
Re: Silver and Gold about to explode
Agree, Anon. Always take full responsibilities of life! But I am slow, cautious, and a bit disturbed.
If give a wild guess, what about housing here in 2010 and 2011? I read some daily economics news and it says that hot money abroad is coming to China, more in 2010. Some local researchers suggest not keeping more than 10K RMB silver(in either way). So small scale investment?
Another example, many of us Chinese have silver coins made in 100 yrs ago. Some scarce types have the price raised, but some are as much as 20yrs ago, means devalued. I read your words several times. Agricultural stocks are rising up too! I am thinking to buy in at next trough.
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Anon
Re: Silver and Gold about to explode
I have heard from alternative sources that the Chinese real estate market is a bubble. A lot of the government stimulus market went into real estate. I don't recommend you invest in it. It might go up in 2010 due to the hot money coming in; but you are taking a risk.
I am also putting much more than 10k in silver coins. Some economists are suggesting you put 20% of your money into gold and silver. These are the people that predicted the US stock market crash years before it happened, and I trust them more than the news. If you believe the alternative news than gold could rise to $7,000 while silver could rise to $80. I will keep on buying physical gold and silver.
I follow the counter intuitive, which means I do the opposite of what most people are doing. If the news is saying the real estate market is good, then I avoid it. While if the news is saying gold is too high, I buy gold. The news has been saying that the US economy is getting better, but the truth is that people are losing more jobs every month.
Sometimes things are upside down in this world.
blucat
Re: Silver and Gold about to explode
"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today."
- Laurence J. Peter
Ran across this quote, and had a bit of a chuckle.
wefrucar
Re: Silver and Gold about to explode
Because you said that, I trust your opinion about the stock market twice as much.
Sometimes I feel it is maybe unbearable always be traditional Chinese girl.
bigsmile
Re: Silver and Gold about to explode
Anon, I did the same thing. That's why I missed 2 best chances to buy in housing. When most people were saving for apartments, I was enjoying life. No regrets. But in China, there's no logic. I believe that the government will wait until enough victims get trapped deep, they'll switch to the other pole.
The big earthquake happened in local stock market last year made many people die or bankrupt, also filled some big foreign consortiums' pockets full. At that time, the plead "save the market or not" was extremely loud. I was timid.
Ever got interested in local market? If we say American market is the vane of global market, is it more risky or safer?
I always believe I am smart. I can remember most of the numbers that I see every day. Appreciate everything that you've shared with us here.
Cheers & Nice weekend
1:6.79
Anon
Re: Silver and Gold about to explode
Once the dollar collapses, the world will be deeply affected. The world is slowly moving away from the dollar and into SDRs (a basket of currencies). When the dollar loses it's reserve currency status, many countries will refuse to trade in bankrupt debt filled dollars. This will cause the dollar to drop dramatically in value and cause gold and silver to go up. This is already happening now. By 2011, it's possible that the dollar could be completely replaced by the SDR.
The American stock market is also a bubble that is also being held up by a stimulus. According to many people, the American stock market is seriously overvalued (should be around 6,000-7,000). How is the market going up, while companies are going bankrupt and people are losing their jobs and homes? America has to borrow $5 billion dollars a day just to keep things going. This will not last forever.
Everything is starting to implode. When the economy gets worse and the dollar crisis begins; real estate will go down. The real estate market in America has not bottomed out yet, it still has a few more years to fall before prices will go up. Unemployment is still rising, and every month people are working less hours and earning less. Real estate cannot rise until those two problems are resolved.
In China, a lot of the hot money is going into the real estate market. It is a bubble that will burst soon. I estimate by mid 2010 or early 2011, prices will have dropped dramatically. By that time gold and silver will be even higher. Gold could be at around $2,500.
Gold will protect you from inflation. You can buy gold now and then if the economy gets worse and the price of everything else drops; you can use the gold to buy up everything you want at bargain prices.
China banks' rush for billions could trip markets: http://www.reuters.com/article/idUSTRE5AN4XD20091124?pageNumber=2&virtua...
China’s Recent Actions Indicate They May Soon Drop The U.S. Dollar: http://neithercorp.us/npress/?p=179
bigsmile
Re: Silver and Gold about to explode
I got a very good deal in an apartment. 10% less than market price. If the owner regrets, I will put more money on gold and silver.
My concern is that China market is not quite on the beat of global market. Govenment is fighting, as well as playing. "Rich country, poor people".
Tell me a bit of oil(petrol, gasoline)?
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Anon
Re: Silver and Gold about to explode
If you've been hearing to what Bob Chapman and a few others are saying; then you know that the dollar will rise again for a short time. This will bring the price of Gold down to around $1,100 - $1,000. I'll be buying more when this happens.
I believe that by late 2010 to early 2011 the real estate market in China will really be down. Houses and apartment prices could be 60% lower than they are now.
Oil, I have heard will stay at around the $70 level for a year or year and a half. During mid to late 2011, it could rise again.
The important thing is to do what you feel is right. Always be confidence in your decisions.
bigsmile
Re: Silver and Gold about to explode
I didn't hear that. Good to know! These days, gold stands on a price of $1,200, too high and risky for me. Because I can not keep an eye on everything everyday. Are you still buying in gold now?
I will sell the apartment when the price starts to sink. I suppose at least the price will go higher within next 10-12mths. Plus the location is really good.
Oil, from early 2007 to mid 2008, price rised from $55 to $147. Triple. In the past yr, oil price lingers around at $70-80. From the Chinese articles I read, many researchers estimated lower at the beginning of 2009. Since people can only buy futures in oil, maybe it's not a choice.
I feel what you feel is right.
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Anon
Re: Silver and Gold about to explode
Gold is still very low. It's predicted to go to $1,500 by April. It could go down for a couple months, but it will start to rise again. If gold goes up, mining stocks will go up even faster.
I'm still buying.
bigsmile
Re: Silver and Gold about to explode
Gold future went down to $1169 yesterday
I am going to some bank tomorrow.
1:6.79
bigsmile
Re: Silver and Gold about to explode
Anon, possible to welcome a "$1,000"? How long are you going to keep yours?
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Guest
Re: Silver and Gold about to explode
Gold will go back up. The dollar still has a long way to fall.
Anon
Re: Silver and Gold about to explode
When it gets to $1,000, I'll buy some more.
I plan on keeping mine for a few years. Remember, the dollar will eventually become worthless. There's going to be a dollar rally soon, but ultimately, I believe that by the end of 2010, gold will be at around $2,000.
bigsmile
Re: Silver and Gold about to explode
Anon, is your avatar a subaqueous helmet?
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Anon
Re: Silver and Gold about to explode
It's a gas mask.
bigsmile
Re: Silver and Gold about to explode
I am always here!
1:6.79
bigsmile
Re: Silver and Gold about to explode
$1116 now. Going to drop more in the next weeks?
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Anon
Re: Silver and Gold about to explode
According to Bob Chapman, it should start going up again on Monday.
He says it might go up and down for a few months, but it will eventually reach $1,500 in April and even higher in 2011.
I'll still be buying whenever I can.