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    The Bull Run Is Over? Analysts Predict Gold Will Plunge Below $1000

    Mac Slavo
    March 5th, 2012
    SHTFplan.com
    Comments (189)
    Read by 1,564 people

    It’s over folks. According to some analysts recent price swings indicate that the gold and silver run-up will soon be coming to an end.

    Sharp falls in the gold price have prompted some bears or pessimists to predict it will plunge below $1,000 (£625) an ounce.

    Goldcore priced bullion at $1,721 or £1,079 per ounce this morning, compared to yesterday’s fix of $1,788 or £1,121 per ounce. A spokesman said: “The massacre is attributed to a host of different reasons – from month end book squaring to Bernanke’s suggestion that ultra loose monetary policies may soon come to an end.

    Brian Dennehy of independent financial advisers (IFAs) Dennehy Weller commented: “Yet again the ‘safe haven’ myth of gold has exploded. It went down during intraday trading by about $100.

    “This doesn’t mean the bull market has ended. It just means that when you buy gold you must do so with your eyes open – it is a highly volatile fringe asset.

    “Our technical analysis suggests one of two possibilities. That the bull run is over and the price will eventually work its way down into the $700 to $1,000 range – or one final high lies just ahead before that large correction towards $1,000 will begin.”

    Source: Telegraph

    The only serious reason given for this recent volatility and rapid drop in the price of gold is that Fed Chairman Ben Bernanke promised he wouldn’t engage in more money printing. However, as is generally the case when discussing capital flows of hundreds of billions of dollars, things are just a bit more complicated than that.

    It’s no secret that the gold markets are completely manipulated by large financial institutions and interested parties within our government that are intent on keeping the price as low and/or volatile as possible.

    What better way to scare the masses away from true value than to create such extreme price swings in both directions that the misperception of risk and constant attacks by mainstream media experts diverts capital from one of the few true safe havens into the fabricated safety of, say, US dollar backed Treasury bonds? After all, unlike the US dollar which is backed by the full faith and credit of the United States, gold is backed by nothing!

    For those paying attention, there is a distinct effort by high level public officials and influential financial leaders to marginalize the value of gold as a safe haven asset. Ben Bernanke, for example, in testimony before Congress last year, made it clear that he does not believe gold is money.

    Yet, any time that US dollar hegemony is threatened anywhere in the world, be it because of gold or oil, the response by financial institutions and government alike is unmistakable and severe. Sadaam Hussein’s demise is a direct result of his unwillingness to cooperate. Bernard Von NotHaus was labeled a domestic terrorist and imprisoned by the Department of Justice for his attempts to introduce a purely precious metals based system of exchange in the US. And most recently the Pan Asian Gold Exchange, which promised to level the playing field and allow for fair global price discovery of precious metals, was curtailed before it ever had a chance to get off the ground because, as SGT Report details, it “posed an enormous threat to the existing fractional reserve bullion banks.”

    We advised our readers to expect exactly these manipulations:

    It will be an extremely volatile ride going forward, perhaps to the point where you’ll hate your gold so much you’ll want to spit on it. But don’t sell unless you’re sure that global crisis has turned to recovery and growth.

    Gold will eventually become the ultimate bubble – you can bet on it!

    Via: You’ll Hate Your Gold So Much You’ll Want to Spit On It [July 2010]

    So, while we will hear that the gold bubble has burst, and that gold is a relic of the past, and that the economies of the world are recovering, remember that we have been told nothing but lies for decades. Ben Bernanke’s promises to limit monetary intervention mean absolutely nothing. Remember when he told us that there was no risk of a bubble in real estate? Or when he said that the collapse of sub-prime mortgages was contained? Keep that in mind as you take in all of the expert opinions from or benevolent leaders.

    Trillions of dollars are being stolen as we speak. Governments around the world are collapsing. Instability, not recovery, is the order of the day. Thus, when the experts make a promise about something, you can fully expect exactly the opposite.

    Yes, there will be volatility in gold, especially if we see a collapse in Europe, or if the government is able to maintain the perception of recovery among the masses. But be assured that if gold collapses, it won’t be alone. Asset price volatility is one of the few predictions we can make as the global economic, financial and political systems seize up.

    However, unlike most assets, gold and silver have stood the test of time, especially during economic and political climates such as that in which we find ourselves today.

    Given that we’ve been forced by a debilitated and collapse-prone global environment to make the choice of where to invest our time-energy yield (i.e. money), we feel much more confident investing in commodities that carry no counter-party risk, as opposed to assets denominated in paper receipts and derivatives of those receipts.

    Investments like precious metals, food, personal energy production, and individual skills development, are the few assets we’re willing to consider.

    Yes, there’s always the possibility of ‘losing’ value in our investment, but at least those assets will NEVER go to zero.

    Hat tip Jeff Rense

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    Author: Mac Slavo
    Views: Read by 1,564 people
    Date: March 5th, 2012
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

     

    189 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. RICHARD99 says:

      Hidden due to low comment rating. Click to read it.

      Poorly-rated. What do You Think? Thumb up 18 Thumb down 93

    2. scarecrow says:

      I wouln’t believe Bernanke if he told me day is light and night is dark!

      People like this comment. Do You? Thumb up 86 Thumb down 2

      • Lin S says:

        Buying opportunity. Word.

        If you believe Helo Ben, that is (I sure as heck DON’T)…

        People like this comment. Do You? Thumb up 30 Thumb down 1

        • Hammerun says:

          Get liquid now and wait for the bottom. Hang on to the PM you’ve already bought and buy like a crazed bitch at a Target sale on the dive. Be ready to move fast, if not get funds on account now and have a program buy for you. Don’t fiddle faddle on this looking for a broker when it happens, (they will be wildly busy) find one now and develop a relationship, if you don’t already. Keeping the PM you already have, I bought silver at around $32 a few months ago and the market waffled. No big, I am still level. I intend to bring that cost down by buying on the bottom. (Dollar cost averaging) I was looking for silver at $21 and Gold at $1200, but silver at $15 would be great. Just buy twice as much at half the cost cutting the lost cost on the primary purchase. I am not big enough to play in the Gold, that’s for the fat cats anyway. I believe silver in the interim will be the common man’s money. Once Helicopter Ben and Tax Boy prints USDs enough to carpet the world and it eventually crashes and burns. We will have to trade in something, Gold and Silver will be it until a solid Gold backed currency arrives in the system. Can everybody say; CHINESE YUAN? Oh and one more thing; if your broker wants you to leverage an account, run like a scalded cat and find another broker, or just stand pat. “If you can’t get it in your hands, don’t buy it.” A broker told me what it sounds like when big guy got an equity call for $550K. Not this boy…

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          • Hammerun says:

            Right now today Gold is $1706 and Silver at $34 that’s a ratio of 50 to 1. If the ratio holds true that means if Gold hits $1000 Silver will bottom at $20. Keep in mind Silver was originally to be held at a 16 to 1 ratio. There is some belief in some circles that Silver will eventually return to a closer ratio. There is a load of speculation that JPMorgan is Monster in Silver and is playing a huge Hunt Brothers move. (For those of you that is old enough to remember who they were) Disavow anything Helo Ben and Tax Boy says and does, DO WHAT THE CHINESE DO. Watch them.. their motives are way beyond these JOKERS!!

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          • durango kidd says:

            The 16 to 1 ratio was a false paradigm and I wouldn’t put any stock (no pun intended) in a 50:1 ratio either.

            Speculate with silver, invest in gold, hoard your lead. They won’t be making any more of it after the Changes.

            Don’t be manipulated by the silver bugs. Its good advice to watch the Chinese and do as they do.

            Back up the truck on gold. Its going to spike.

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          • Hammerun says:

            @Durango kidd
             You said; Speculate with silver, invest in gold, hoard your lead. They won’t be making any more of it after the Changes.
             “As I said, silver will be the common man’s money and small commerce will be done with silver” or barter. $200.00 worth of groceries can’t be realistically be bought with a $3000 Krugerrand. You would get back silver in change. So what’s the point? As far as lead, I have amassed more now than I have fired in my entire life by 2 or 3 fold. And we were shooters.
             You said; The 16 to 1 ratio was a false paradigm and I wouldn’t put any stock (no pun intended) in a 50:1 ratio either.
             I wholeheartedly disagree, but you have your theory and I have mine. We all pay our own bills.

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          • Havok says:

            Bought my silver at $12-$15 an ounce.
            If it dips again ill must buy a ton more.
            The Bernak is a nitwit.

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          • Shirley says:

            I can put $200 of groceries in a hand basket now.

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          • durango kidd says:

            Hammerun: I didn’t necessarily disagree with your statements, except the relationship between silver and gold; as that relationship has been severed and I don’t think anyone knows where the “magic” ratio for them will be.

            I think they will move independently and not in tandem as many believe. The tandem movement is a throwback to the old days when a “ratio” was relevant. Its not anymore.

            Otherwise I agree with your advice; particularly your advice about China. I watch them too. They will be buying soon if they have not already.

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          • durango kidd says:

            Hammerun: BTW, I predicted this dip in the price of gold,at this time, last year. I also reminded Mac about it in a private email a few days ago.

            Back up the truck if you can my peeps. Gold will spike. Sell your basis. Pocket the profit by taking physical gold.

            Bury that gold in your backyard.

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          • Nehweh Gahnin says:

            Gotta agree with ya Hammer. Sorry, DK. The SGR should be a lot lower under free market conditions, which is what we’ll get when SHTF.

            “Most importantly, the global silver market is very small compared to gold’s. Far less silver is mined than gold in terms of market value each year. Global silver production in 2009 ran about 700m ounces, and at last year’s average silver price ($14.70) this equates to $10.3b. Meanwhile around 75m ounces of gold were mined worldwide last year, and at 2009’s average gold price ($974) this was worth $73.0b.” http://www.zealllc.com/2010/sgrrev4.htm

            There is your ratio: about 10:1 (700m oz v. 75m oz). Ideally, these commodities are priced relative to their rarity, subject to factors such as industrial uses, etc. But those other factors actually operate in favor of silver, which is used FAR more in industry.

            DK, you are right about silver’s volatility. But that is a good thing, imho. Buy on the dips and hold. When true supply and demand factors come back around, following the implosion of the present speculative regime, silver is the step up for those who hold it.

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          • kevin says:

            http://mines.az.gov/DigitalLibrary/usbm_ic/USBMIC8206MarketingOresAndConcetrates.pdf @dk, go to page 6, the natural ratio is about 18-1 according to this gubmint 1959 outputs of us mines. I have heard this # before, crunching the 1959 #’s jive.

            Rate This Comment: Thumb up 1 Thumb down 0

          • Gregory8 says:

            Hammerun is smart and not falling for the propaganda being put out by those who wish to start a selling panic so that they can then come in an clean up. In our small town of 200k there are people outside pawn and jewelry shops with signs still wanting to buy gold and silver, so don’t be fooled by those forcasters who work for the market manipulators. Just keep buying your PMs and let the prognosticators keep peddling their B.S. The worldwide ponzi scheme of ever-growing fiat currency by all the larger nations will come to an end. And the longer it takes, the bigger the crash. Those holding PMs will be the “New Rich” because cash will be trash.

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        • durango kidd says:

          NG: The reason that more gold is being mined than silver is because there is an oversupply of silver (more than a years demand above ground) while manufacturing is down, and because copper demand is down.

          Anyone who understands anything about mining understands that the vast majority of silver production is primarily as a by-product of copper mining; and that is where the copper mining companies make their real profit: on the silver and gold they produce as a by product of copper mining.

          These ratios are BULLSHIT. If they meant anything at all in the marketplace, where do you think the price of Platinum would be, considering the Gold to Platinum ratio in the earth?

          My memory may be incorrect but I believe that gold is 6 times more abundant in the earth than platinum. So if the ratio theory of value had any merit, platinum would be worth …. ?

          You can agree with Hammerun about ratios all you want. You would be wrong too! :-)

          Rate This Comment: Thumb up 4 Thumb down 2

          • kevin says:

            http://silverdoctors.com/ Hey DK, you seen this. 436,000,000 oz of comex “silver” dumped. Now THIS is bull$hit in the market place!!

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          • Hammerun says:

            Hey Kev; thats a great site, thanks for the tip. Interesting little dity abour JPMorgan on the stops.

            Rate This Comment: Thumb up 0 Thumb down 0

          • durango kidd says:

            Kevin: Nice link. And I think that makes my point exactly: the market is going to determine price and the market is manipulated.

            If earth ratios were the standard then platinum would be over $10k.

            I will check the 1959 18:1 ratio, but that is HISTORY not reality today, considering that Nixon severed the link between metal and money and a massive new electronics industry has developed which is owned by the Uber Rich.

            That is why silver will remain, primarily, an industrial metal and why gold will be owned by the Uber Rich.

            Silver ownership is good. Everyone should have some; as much as they can reasonably afford, but no one should allow the silver bugs to manipulate them into supporting their speculation.

            Buy low. Now. Keep for a calamity.

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      • Yeah Bernanke has been so spot on to this point on all that he says. His guidance has been invaluable.

        ; )

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      • Dennis says:

        PEOPLE WTFU

        GOLD is MONEY

        IF it wasnt the central banks would not

        BUY IT

        My God how FRICKEN hard is this to understand

        a 5 year old would understand this

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        • Renee says:

          I agree. I got quite excited when I read the headline — it may mean gold (and little brother silver) will get to be affordable (again) for us! Woo hoo!!!!

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    3. salvadordaly says:

      Sooooo, wait to buy when?

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      • Claymation says:

        That is the real question, predicting the bottom is extremely hard. As I write this silver is at 34 dollars an Troy Oz. I will start slowly buying when it hits 30 dollars and increase it as the price drops or slow down if the price goes up. That is only my strategy, each person must decide their own risk. I’d love to hear others thoughts for sure though. For now silver is still overvalued and would make the gains I made buying back in the late nineties moot. Peace

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        • Claymation says:

          I was talking about silver, hope you could tell :)

          Rate This Comment: Thumb up 3 Thumb down 0

        • Barn Cat says:

          Buy whenever you can regardless of the price. It’s both a long-term investment and a way to preserve your buying power. Silver will be a bargain at $40 an ounce or $50 an ounce or $5000 an ounce. In time we’ll see hyperinflation. The dollar will be worthless. Your physical silver and gold will preserve your buying power. To keep it simple, two 90% silver dimes are worth enough money to buy one gallon of gas. That should remain true no matter how expensive gas gets or how worthless the dollar becomes.

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          • DRD5508 says:

            Barn Cat; you’re right (2 dimes/gallon of gas). You are showing how worthless the fiat money is. Only problem is our society is conditioned to accept credit and paper not the PM coins.
            It is still humorous to see how cheap a gallon of gas is compared to silver coins, it was $.19/gal. in the early 60s to early 70s.
            Be advised, they are still manipulating the PM market; if you got the PMs don’t sell, if you want to buy be patient and go junk silver first. The ptb are just trying to push people into the herd mind set, again.

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          • durango kidd says:

            Silver is an industrial metal. It will not be a bargain at $5000 an oz. That is either hyperbole or stupidity. I’ll let everyone make up their own mind on that.

            If you don’t have silver, buy some and hold it.

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          • durango kidd says:

            No hyper-inflation any time soon, but keep your tanks topped off and don’t drive as much to suppress demand.

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        • Burt the Brit says:

          Hiya Clay

          I buy a couple of oz a month, at over priced prices…paying the equivalent of $33 at the minute. The reason is simple, taxes. There are a couple of small stands between UK and France, Gurnsey and Jersey are the larger ones, anyhow, they have rules that say if they send stuff off the islands no tax as to e paid if the value is below $25. I buy halves or quarter oz rounds and my man sends them in separate packages to avoid the 20% tax that would normally go on top of the price. This loophole is being closed April 1st and silver suppliers have made sure everyone knows so demand s high right now. I can get a $ cheaper here on the mainland but the tax puts it up to above the Gurnsey price. Also there s no minimum amount here a lot of the companies have a minimum spend.

          The other way I do it is buying from a jewellery manufacturer, I am a “crafter” who supposedly makes my own jewellery, slightly more cost than buying rounds but gets me hall marked chains etc at low prices. Neck chains are more recognisable, most people here would not know a silver round if it bit them on the arse, Brits are ar less savvy than Americans regarding precious metals, okay I pay a little more, but it would be easier to fade on an individual level during an emergency, if I need basic goods a chain is far more use to me in my location than a 1 oz round.

          I regard my rounds as a much longer term investment, the chains, ring shanks and such like are my version of you guys buying junk silver…something unavailable here….and the bits that are do not cut it as the bloke in the street has no idea what it is and how much it is worth.

          I have taken this approach purely to try and give my metals general appeal for the market I will be dealing with. I have started to dabble in copper, not because I think it will increase massively as an everyday metal but it has good applications for all kinds of industries, is very cheap to buy and may be in great demand in the future, particularly if ever we find ourselves in a grid gets fried kind of situation.

          If I never need any of this my little one will have a nice little nest egg in a couple of decades time.

          Take care

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          • Burt the Brit says:

            Small stands? Small islands. My bad iPad lol

            Rate This Comment: Thumb up 3 Thumb down 0

          • Claymation says:

            Hey there Burt, You are the perfect example to us yanks at SHTFplan of how a different culture will react in their own ways to bartering and precious metals. I personally would only trust silver in coin form, but thats just me. Personally Burt, for the sake of your little ones and mine, I hope we never do need it. Keep the faith and stay safe!

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      • 1650

        Rate This Comment: Thumb up 3 Thumb down 3

    4. countryboyseein says:

      It won’t bother me if gold/silver take a hit going forward. it’ll just mean I get to buy up some more at reduced prices!

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    5. Claymation says:

      The trick is going to be picking the bottom for both gold and silver! Peace

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      • mike says:

        Clay: I am terrible at market timing. I don’t even attempt to pick a bottom anymore. I will usually find a moving average and if I think it will rise long term but dips below the moving average I will look at buying.

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        • Claymation says:

          Hi Mike, I hear ya there, timing it right is tough. Truthfully, I have not had much luck either, but I still try. My only saving grace is picking up a bunch of silver when it really cheap, a lot of years ago. Good luck my friend.

          Rate This Comment: Thumb up 3 Thumb down 0

      • Barn Cat says:

        It’s better to buy now regardless of the bottom. Otherwise you could be buying gold at $2000 or more.

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    6. geo-lithic says:

      Don’t wate your money !! Sell Gold, buy Silver, food, seeds and bullets!

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      • Chloe says:

        I agree.. While we have some gold and silver we have most our preps in food, bullets, TP and medical supplies. We just spend our tax return on long term food storage. Thanks to one of you here we found a link to shelfreliancesanantonio.com and got a great deal. The lady (Leiha?) was very helpful.

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    7. wally says:

      i’ll still be hanging onto my silver thank you verye much!

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    8. VRF says:

      when it hits bottom, mold it for reloading purposes

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    9. kev says:

      I rember when some analyst said when gold was at $1000 it was a bubble, yet went on to $1700+ over a few years.

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    10. BUY MORE says:

      IF METALS GO DOWN IN PRICE… I WILL JUST BUY MORE AND MORE AND MORE…!!!

      NWO LIES….

      SORROS SAID THE SAME THING….TO DRIVE PRICES DOWN..THEN HE BOUGHT DUMP TRUCKS OF GOLD.

      MY RULE…. I DO THE OPPOSITE OF THE HERD AND IT ALWAYS WORKS.

      IN MY OLD AGE…I’LL PULL A FEW COINS OUT AND CASH THEM IN FOR THE FIAT OF THE DAY TO TRANSACT.

      FUCK ‘EM

      NEWS…..
      JUST BOUGHT A BERKLEY WATER FILTER…. CHEMTRAILS WILL KILL YA IF YOU INJEST THE METALS. LOOK INTO APPLE PECTIN TO REMOVE METALS.

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      • Claymation says:

        I agree BM, But please stop yelling.

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        • BUY MORE says:

          I LOVE TO YELL ABOUT PM. GOD’S MONEY. THE CAPS SERVE GOD WELL.

          Hot debate. What do you think? Thumb up 6 Thumb down 7

          • DomesticTerrorist says:

            Here in the US, people know what a silver dime, a silver dollar, are. You guys used to have Pounds in Sterling and I believe at one time they were just that: pounds of sterling silver! But that was longer back, we had silver coins jangling in our pockets and circulating as currency when the Moon rocket went up.

            So as a Yank, knowing how iffy the jewelry can be in the US, there’s a lot of fake stuff, I’d go with silver dimes and quarters etc.

            YER YELLING ABOUT EATING APPLE PECTIN TO TAKE A GOOD HEALTHY DUMP RIGHT?? THE INTERNET WON’T LET ME POST ANYTHING REASONABLE BUT SURE AS TAKING A NICE SATISFYING BUTT-LOAF DUMP THIS WILL POST ….

            YEAH ALL CAPS IS KINDA DUMB MMKAY?

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    11. BigHog says:

      This is actually what I have waiting for, so I can own gold.

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    12. Paranoid says:

      Since; as we know it’s better to give than receive. So just to be a good guy; Just send me your gold and I’ll receive it. and you can have the good karma and I’ll have the Gold

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    13. Everyone that is short gold says, “Its going down! SELL! SELL! SELL!”

      Everyone that is long gold says, “Its going up! BUY! BUY! BUY!”

      Who’s lying? Who’s telling the truth. Don’t really care. I buy PMs slowly at target prices (mine is $30 for silver). I don’t buy gold.

      So, we don’t really know any more than we did. All I can say is that if the economy crashes, if hyperinflation takes hold, we’re talking gold and silver TO THE MOON. It may be the ONLY thing that you can keep of value.

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    14. mike says:

      Every investment has some volatility. I would expect there are some real estate investors who are pretty upside down right now, or some people that rode the decline in the market a few years ago that were swallowing tums on a daily basis. If someone is holding long term, small corrections are less of a worry.
      A person just has to find a comfortable level of risk and be willing to ride the ups and downs.

      I always ask myself if I would be more comfortable holding paper. That answers my question.

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    15. I have not invested heavily in PM. I only bought enough to feed my family for five years as a backup to our food production and storage. If gold returns to $1,000 an ounce and the other PMs keep their ratios then I am not out anything because I got in at a much lower price.

      All precious metals will decline during the crash as people liquidate to meet margin calls or just because they need liquidity. Maybe I will buy more at that time if I cannot find a deal on more tillable acres.

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    16. Barn Cat says:

      Gold won’t drop below $1,000 unless everyone panics and dumps their gold. The global elite would love that. It would mean they could buy more gold at fire sale prices. Even if gold does drop temporarily to $1,000, eventually the dollar will be worthless and gold will be at $50,000 an ounce or more. Not because gold got more valuable but because the dollar will become so worthless.

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      • durango kidd says:

        Gold will never be $50k an oz. That is either hyperbole or stupidity. At $1500 an oz my balance sheet broke $500 million.

        Who would want that more than me? Not gonna happen.

        Hot debate. What do you think? Thumb up 5 Thumb down 11

        • The Moon is a Harsh Mistress says:

          DK,

          You underestimate the power of hyperinflation. When hyperinflation sets in, 50k an ounce might be absurdly low. Ordinarily I do not agree with Barn Cat on anything but I am with her on this one. What do you think the conversion was on Weimar Republic currency for an ounce of gold? I know that it was a hell of a lot more than 50k. Maybe what you meant to say is that an once of gold will never buy 50k’s worth of stuff at present values. Like purchasing a new Ferrari with several ounces of .999 fine troy. Someday, you might be able to buy a Ferrari for a few ounces because it will be worthless to the owner who has lost his fortune which was denominated in dollars inflated away by Bernanke the Assclown, and because peak oil and peak population has resulted in no gasoline for it’s V-12.

          Regardimg your earlier post regarding the 16:1 ratio of silver to gold, yes, prices at present do not reflect this. However, there is a good basis for the 16:1 ratio, which has more to do with the distribution of Au and Ag in the Earth’s crust than industrial usage or fluctuations in commodities prices. When it’s use is as an industrial metal rather than currency, the price is determined by the strength or weakness of the economy and future demand for products containing silver. If we ever returned to a two-metal standard for currency, the value of silver would return to a closer ratio with gold. Regardless, I will continue to buy both gold and silver with the money which in times past I would have placed in a savings account. Trying to become rich is not the reason I buy precious metal. If you trust the banks and Uncle Ben, don’t buy any metal.

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          • durango kidd says:

            There will be NO hyperinflation, only double digit inflation. Double digit inflation is not hyperinflation.

            Helicopter Ben has printed 26 trillion FRN since 2009. WE have 10+/-% inflation. Not gonna happen.

            Deflation is the most likely possibility.

            I understand the historical basis for the ratios. History is no guarantee of future performance. The cord was cut by Nixon.

            WE have a new paradigm now because of the electronics industry (read: owned by the Uber Rich).

            While silver will rise in value, it must remain economically viable for manufacturing, (read the manufacturing base that the Uber Rich own).

            I could forsee States maybe minting their own coins under national guidelines, but it is not likely that WE would return to a bi-metal monetary system. Anyway that would be a very bad idea for America under the current managed trade of the GB’s.

            All of OUR real wealth would be shipped offshore along with OUR economy and jobs.

            If the PTB decide to go to a metals standard again, bend over and grab your ankles, you will get the big green weenie while the Uber Rich get OUR gold offshore and into their Cayman and Bermuda bank accounts.

            That could come, by design, AFTER the coming war with Iran. Keep prepping.

            Hot debate. What do you think? Thumb up 8 Thumb down 8

        • Slick says:

          DK,
          I shall send you my resume,
          And I am an excellent cook.
          Some French, Southern, and Northern Italian.
          My Sushi skills are legendary among my friends and acquaintances.

          Rate This Comment: Thumb up 1 Thumb down 1

          • durango kidd says:

            Slick: I have made a mental note, but I am not yet liquid. I don’t eat much either. Fruit and yogurt in the morning with milk.

            Lunch is a protein smoothie from Nutrition One, or three small chicken strips from Chick Fil A.

            Dinner is out to wherever it strikes my fancy: Chili’s, Olive Garden, Appleby’s,etc.

            However, I do have some ideas once I am liquid and WE will talk then: as I will with others here who can make a contribution and who are willing to relocate. I intend to spend it.

            I can’t leave it all to Mac, can I?

            Rate This Comment: Thumb up 3 Thumb down 2

    17. Patriot One says:

      I can’t wait. If gold drops to $700 I’ll use the maximum utilization of available credit cards. Though I’m not a gold or silver bug I’ve seen the light since the crash.

      Just don’t hold your breath though. It seems the media hype this week is all about the economy is much better then is being reported and high gas prices are actually good for the economy. I know the MSM can’t see the shit they are shoveling, but they should be able to smell it!

      When you don’t pay your mortgage you have more money to spend and that my friends is the only thing holding up the economy. That’s not good news!!!

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    18. ZombieDawg says:

      Bull run over ? LOL x 100 !
      The “expert” source is a MSM (Telegraph) “economist”…

      With ALL currencies FIAT and collapsing fast, who honestly believes that real money (precious metals) are going to crash.
      Nice try but smart people aren’t going to fall for that one !
      Shake the metals tree and watch the panicking kiddies abandon their gold and silver.
      Ask REAL experts like Celente, Keiser, Armstrong, Mike Maloney etc.
      But for the doubters, I’ll take all your silver off your hands and I can sell you some nice US bonds, Eurozone real-estate, and shares in the Japanese economy. Ha ha ha

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      • blackriflewarrior says:

        ZombieDawg, I agree with you but I almost shit myself when I read the headline! The “elite” want the sheep in the dollar so that when she goes under they will have total control of the dummies that didn’t think to be into PMs. I have almost all of my money in PMs so I watch it closely and I have good friends with old money who know the game and they have all told me to stay long in metals. ” A fool and his money are soon partying” (Steven Tyler)

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    19. Beefcake says:

      Stick with silver- it’s easier and faster to liquidate or trade with when the dollar is reduced to the status of shit paper.

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    20. Rain23 says:

      Please, by all means, let gold drop. Below spot for silver is just fine with me :) It’s like saying food is going to bottom out in price; sometimes it’s worth more, sometimes it’s worth less, but it always has some value. It’s getting harder and harder to say that about paper currency, especially now that they’ve added several colors of ink which I suspect would give you a nasty rash if you used it for its most likely purpose in a decade or so.

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    21. Chris says:

      I HOPE silver and gold crash; I need a good dip in price so I can load up on more of them before they skyrocket again.

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    22. motormatt48 says:

      I don`t think so…Another false flag…But, If it does drops, i`ll buy all I can get…

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    23. DieselDan says:

      Where do these “experts” live. I don’t think it’s on this planet, I’ll keep my food, silver, gold and lead they can keep the bullshit hope and change.

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    24. The Night Watchman says:

      If physical gold and silver weren’t being undermined and manipulated by the 100:1 paper precious metal market so as to prevent it’s competition with the dollar, and the price of precious metals (PM) reflected the true devalued state of the dollar, gold and silver would be at least 500% higher than current prices reflects. No one that I personally know who collects PM’s as a hedge against a devaluing currency and rising inflation is dumb enough to sell their physical precious metals especially in this fiscal environment. Paper PM traders on the other hand have a very different mindset.

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    25. Joe says:

      If it is going down, then sell. When it goes back up, then buy. Simple.

      Hot debate. What do you think? Thumb up 3 Thumb down 9

    26. whoisbiggles says:

      Can’t afford Gold and have more important preps to buy anyway.
      I buy an 1oz of silver each payday regardless of the price as I am not lucky enough to pick the right supermarket checkout queue let alone the highs and lows of the silver price.
      When China starts selling its Gold maybe I will believe this was all a bubble.

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      • John Q. Public says:

        You have a way with words. That was hilarious.

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      • lonelonmum says:

        whoisbiggles

        That’s my approach. Get a lil gold if I have a REALLY good month, get a half ounce or ounce of silver if there’s enough spare at the end of the month most times. My tiny stock is building gradually as and when I can.

        I don’t have huge funds sloshing around to play fancy games. I’m the single Mum of a disabled kid. In past times that lil bit each month went into a “rainy day” fund at the bank.

        Nowadays I’d rather hang onto my “rainy day fund” in a simple form, as I’m too vulnerable to risk it all disapearing one day on a digital screen cos the ptb wanna play silly games with my child’s security. If I can see it and touch it, I know it’s there.

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        • whoisbiggles says:

          I hear you.

          With a wife and four kids each month (payday) that goes by allows to us to get a little bit more food, band aids, etc.

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      • Enki says:

        China does need to sell gold. They have an unending supply of (american) bonds. The Chinese are “buying” gold
        and they also ( it never happened before) encourage their citizens to do the same. At the same time they realize that after finishing off Syria, Iran and, eventualy Saudi Arabia, ….. they ….are next on the list.Whatever drops you see in the price of gold / silver are manipulations done by the large banks who sell gold …. amongst themselves, and artificially mantain the price low. Understand, however, that no matter what they do gold will behave like a rubber ball submerged in water. Look at “price of gold” as a barometer in so far as the “international situation” is
        concerned.
        This being said, consider preparing yourself, wherever you are in North America, for times when you may have to do…. without “electrical energy”.
        There is no better way to “pacify” a restless population than an “EMP attack”. Once we are brought into the “stone age”,…. the ratio between “gold/silver” and a “box of matches” will change in way few can imagine.
        Coming back to gold, it is the precious metal which has been “precious” for more than 6.000 years. Do you really imagine that a handful of “smart guys” can change that ?:-) NO CHANCE !

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    27. Stan says:

      I would love to trade more of my dollars for gold and silver. The more gold and silver I can buy with the dollars I earn the better life is…

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    28. Gold Leader says:

      Remember….even though the ‘experts’ feed us this crap, every country, central bank, and elite freak is scooping it up with both hands. China, for example, is buying all that it can…from its own mining companies too, of course, as they are communist…while encouraging all the Chinese citizens to also buy metals. They know what’s coming. Hell, even little Malta last year bought 3000 ounces of gold….what does this all tell us?? THEY KNOW THE GAME.

      Gold Leader standing by.

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      • Nehweh Gahnin says:

        Yeah, well, the Iranians are perfectly happy to be selling crude to the Chinese, Russians and Indians in exchange for gold. Which is what they’re doing, because by avoiding dollar-denominated transactions, they’re walking right around the sanctions. The Chinese are down with it too. They’ve been wanting to undermine the USD reserve status for a decade or more.

        It’s apparent the idiots in D.C. and on Wall Street WANT to crater the nation’s economy. It’s a pretty simple shell game. Print like crazy, keep inflation at bay long enough to use those fiat dollars to buy up PMs and land and cattle, and then boom … a lifetime’s worth of debt slaves to tend your new assets.

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    29. hammerhead says:

      invest in brass and lead , it wont go down in value
      and no need to watch the market

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    30. Dennis says:

      WTF

      Gold drops $100

      The media whores say the sky is falling LMAO

      I dont think so

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    31. ScoutMotto says:

      The Federal Reserve note could go down the tubes this year, or next year, or whenever. I’m hanging on to the PMs. If they do go that far down, fine – buying opportunity!

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    32. crash and burn says:

      hell with gold and silver…..beans and bullets for me all the way!!!

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    33. Brian F says:

      If the SHTF then gold/silver will have a barter system value totally unrelated to it’s value yesterday, today, or tomorrow relative to the fiat dollar, regardless of manipulation.

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      • crash and burn says:

        Brian you are so right…….when your starving to death a brick of gold is worth a loaf of bread.

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        • DomesticTerrorist says:

          Anyone remember the scene in The Road, where the guy’s rooting around in a drawer for food and brushes Krugerrands aside?

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          • The Moon is a Harsh Mistress says:

            Yes, I remember that scene very well. Reading “The Road” was what got me to get into preparedness. I have given it to my mother, mother-in-law, and encouraged everyone I know to read it whenever the subject of bad times comes up. It is easier to talk about preparedness after they have read it; especially the scene where they came across the campfire and the tiny bones from the newborn…

            I think the scene with the krugerrands shows the worst case scenario; society has been completely destroyed and the survivors have been reduced to the point where all that matters is finding food because it cannot be grown and there is no one to grow it. Money is useless even in trade for food because there is absolutely nothing that you could buy with it.

            My own opinion is that is where we are headed. I think even the Bible makes mention (maybe in Revelations) of people throwing their gold and silver out into the street because it is worthless and buys nothing. Now I am not religious but I have read the Bible and understand the value and the messages that are in its stories and parables. I believe that the scenario outlined in “The Road” is where we are headed for a number of reasons. These include a population far in excess of the carrying capacity of the planet which is using up every available resource with the help of advanced extraction technology heavily dependant on petroleum. We are already seeing the results of a far too large population in our high gas prices, declining production in existing fields, and lack of discovery of new fields sufficient to keep up with the pace of depletion. Agriculture is heavily dependent on oil at all stages from planting through delivery to market, and the worldwide days of reserve of grain is shrinking every year as agriculture has a harder time keeping up with increases in population. Lastly, there is a looming worldwide crisis of debt which cannot be repaid, and of inflated fiat being used to prop up the entire system and give the illusion of stability and prosperity. These things will come to a head sooner or later, and when they do it will be as a row of dominoes with each issue cascading instability and causing the next domino to fall. I forsee a future where the population has fallen from 7 billion to as low as a few hundred million as starvation, war, and plagues unmercilessly decimate the survivors. My gold and silver will be used to get as far away from the collapse as I can but I have no illusions that once it starts, there will not be a future where my gold and silver will be of value.

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    34. Keith says:

      Copper Nickel silver-all are down because the economy is tanking. I think China is about to tank as well . They cant keep the bubble inflated build all those goast cities LOL

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    35. In God I trust says:

      IMHO, We are being manipulated at every turn. The housing market crash, the rush on gold and silver, the phony stock market, all manipulation. I believe one has to think outside of the box at this point in time. What will bring you a safe return on your money when they make it impossible to own PMs? They will do something to destroy any future in having PMs, either through taxing or penaltys. This plan is working perfectly for the PTB, and I for one am trying to figure out which way to go and what to invest in.

      If I were to purchase anything right now, it would be land and especially land with a pond or natural water source. I would also consider investing in the manufacturing of tiny houses. With interest rates so low right now, it would be wise to join with like minded relatives or friends and purchase property together.

      I may be wrong but my gut tells me otherwise. We have to be a step ahead of these manipulating monsters. I think we can beat them at their own game, if we just think in simple terms and take advantage of what is right in front of our faces.

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      • mike says:

        In God: Not sure if you listen to lindsey williams or not, but there is an interview with him on alex jones. I know he talks in circles but he was predicting the feds will try to take land by taxation. He adivised if you own land to have 5years (I think that was how many) to tax money set aside.

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      • The Moon is a Harsh Mistress says:

        No one “owns” anything which they cannot defend. Property taxes turn property owners into property renters for Uncle Suck. There will always be an underground market for precious metal. I would like to have land but land is just one more measure of control which our government uses to keep us in line. When TSHTF, even those who own land and have money set aside for taxes will be at the mercy of those with guns and thugs and the power of authority. I think when things get that bad, my metal will buy a bluewater sailboat and passage out of the country. If I can find an unguarded sailboat at anchor in a marina belonging to a marxist politician like Pelosi or Boxer, then I will just hang on to my metal. Any plans to try and stay legal when rule of law has been replaced by rule of thug is doomed to failure. If you can defend it, you will own it.

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      • ponomo says:

        Your first sentence of the 2nd paragraph nails it. you will also need several mother cows with a few off-spring.
        “manipulation” is the game that some low-lifes are addicted to. live with your immediate family in a hovel, but do not deficate in a bucket. save the fresh deficate
        mounds to feed the counterfeiters.

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      • ponomo says:

        good plan.

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    36. Shirley says:

      They’re still taking paper iou’s for gold/silver? What is gold/silver backed up by anyway? Bring the dips, corrections, adjustments, manipulations, waves, bear bites. You can’t eat it, but you can chew with it and swallow it. What good is it & diamonds doing WH now? Ever pick up a kilo of gold. That shiny is heavy. Nitro-hydrochloric acid all of it except mine.

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    37. Sweed says:

      Good news: I won the lotto eight years back.

      Bad news: I took the pay out over many years.

      Good news: I buy a couple of red monsters every year with what I don’t spend.

      Bad news: Each year the price goes up.

      Good news: I feel richer every year.

      Bad news: My closet floor fell down into the basement.

      Good news: I found that case of old scotch my uncle gave to me before he died when I was a kid.

      Bad news: All of the bottles broke except one.

      Good news: That was some good scotch.

      Bad news: I hurt my back carrying them monsters up the stairs.

      Good news: The doctor took some gold to fix my back.

      Bad news: I married the doctor’s young nurse.

      Good news: She’s never home and I bought more scotch.

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    38. yourdaddy says:

      I find it somewhat irrational (Or nonsensical rather) to continually evaluate Gold & Silver in terms of how many FRN’s it takes to purchase an ounce. Be honest, if you had absolutely no concerns for the future viability of our Fiat currency system, would you ever be motivated to purchase a hard currency? Why would you? It is illiquid and “off the grid.” The SOLE reason all of us have taken physical possession of metals is because we have little to no belief in the future viability of our fiat currency, yet this article & the many posts that follow are bantering back and forth ad nauseum as to specific, dollar-denominated, target prices (short & long term) for each metal.

      If you are unlike most of us who’ve accumulated metals for the past few years, and were solely playing this as a speculative investment, then I suggest you cash in your gold & silver at these levels ($1700 & $34), realize your paper profits, take possession of the resulting FRN’s and invest in another venture. Reason being is that this market is most definitely rigged, and short-term price visibility is murky at best…(Not a good place to be if you’re trying to protect “profits”).

      For the rest of us, you shouldn’t look at the manaical swings in the daily/weekly/monthly prices of these metals as rest assured, there is a good reason that the new, PACE exchange failed out of the gate…It had to. Another exchange based not on margin, but contracts supported by ACTUAL delivery criteria, would have re-set the values of both Gold & Silver to astronomical levels. Curently, the paper COMEX trades contracts for silver that represent over 220x the available physical silver on the planet…yet here we hold at $34 “dollars”/ounce.

      Just absolute nonsense to ever speak about your TRUE asset of Gold & Silver in terms of how many “dollars” they’ll fetch. You should be speaking about these metals in terms of units (i.e. how many units you own, and how many you can grab at $x.xx/ounce). Then one day, when you truly need them, I’m willing to bet they’ll return a King’s ransom (in value).

      In the meantime, if some market out there wants to trade me 1 ounce of silver for $15 FRN’s, I’ll GLADLY take 1000′s of them off their hands. If they go insane and decide they want to trade $7 FRN’s for an ounce, I’ll have to buy a bigger truck to back up.
      -Dad

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      • BUY MORE says:

        Buy it slowly through the years and sell it off in old age only when you have to.

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      • durango kidd says:

        I agree dad. After the SHTF they will only be about purchasing power, and initially, there may not be anything to purchase anyway.

        Be there to get there. Buy it now to have it later.

        Gold will, however, preserve a portion of your wealth (purchasing power) through the Changes. silver will be the medium of exchange then. If you don’t have any peeps, buy some.

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    39. ~~~Yes, there’s always the possibility of ‘losing’ value in our investment, but at least those assets will NEVER go to zero.~~~

      And we using food as our investment can eat ‘em!!

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    40. Charlie says:

      Quick! Stock up on George Dickel!

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    41. carynverell says:

      reading about what you all think regarding gold and silver is interesting, but it is starting to get boring for those of us who have no money to purchase such things. i am with the beans and bullets guy…at least i can afford those right now and stock up with everything else i might need someday…now, land is another matter..and it is my humble and personal opinion that land is more valueable than gold or silver and most folks who dont have land are gonna wish they did.

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      • Barn Cat says:

        Buying land would be a lot easier during a time of hyperinflation if you had your money saved in the form of gold or silver. When the dollar has lost 90% of its value you won’t be in any condition to buy land. You’ll have a hard enough time buying food.

        Once you buy everything you need for prepping your savings should be in gold and silver.

        Land is good but land isn’t portable. Things can happen to it that can greatly lessen its value. You could easily leave with $30,000 worth of gold sewed into the lining of your winter jacket. It would consist of 20 one-ounce gold coins.

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    42. Curious Questioner says:

      Ok so I have read a ton of comments, but have little knowledge, I have 5,000USD in an emergency savings account, I am thinking of putting at least 2,5000USD of it into physical silver. Where and what kind do I buy? pleave help me out! (silver american eagles??)

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      • eric says:

        I would not invest in silver right now and thats my honest opinion, it could go either way up or down you never know. I have a bunch of silver thats why i commented on it. I dont know. save it for emergencies that is what I would do. dont get too rapped on experts on line.

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      • mike says:

        Curious: I have used both Gainsville coins and cornerstone bullion. Both have treated me well. I like cornerstone because I can buy at a certain price and as long as my check gets to them they honor that agreed price. Gainsville requires a cc for smaller puchases.

        As far as bullion or eagles you are going to hear arguments for both sides. It will end up being a personal decision.

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      • Joerocker says:

        Silver eagles would be my choice.

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      • DPS says:

        Curious Questioner,

        Look to the side of macs site and hit shtfschool website. It might just give you another thought on how to invest your emergency money.

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      • ponomo says:

        50% silver eagles 1 ounce

        50% ninety percent pre 1965 coins—dimes, quarters,half dollars.

        kitco or reputable local coins dealers

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      • durango kidd says:

        CQ: There are a number of broker links at SHTF Metals for your edification, as well as other useful info. If you do not have any silver, yes, buy some. Say $1000.00

        Use the rest for preps if you do not have any. Try SHTF Weapons and SHTF Food for info and links.

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      • Ranger says:

        If u feel the need to buy,coin silver at spot in a few dollars face at a time and maybe an eagle or two. If that’s all your reserves, I’d tread lightly.

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    43. Folks come on; its clear. The can is being kicked passed November 2012 so the anointed one can be corinated again dictator of the free world. The economy must show “signs” of improvement to be embellished upon by the lame stream media. A solid, improving, great, recovery, etc economy means lower gold and silver prices. A big tough dollar. IDK that it reaches 1000 or 700 but I don’t see it going up any time soon – less of course Israel nukes Iran.

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      • mike says:

        Jim: I couldn’t agree more that they are going to try to kick the can until after the elections. I think both sides want that, if they are running for reelection this fall.
        But the line the fed has to walk is incredible. If they are able to pull it off, many books will be written about how they were able to do it.
        If commodities continue to climb, it signals less faith in the currency and economy. But to lower them means strengthening the dollar which will have an adverse affect on stocks (and every voters 401), revenues and corporate profits. The fed reserve somehow has to manipulate the metals market and surpress commodities in general without strengthening the dollar. The only way I can think of is with futures contracts manipulation.

        If they can pull it off it would be a beautifully complicated evil thing, but one hiccup and everything can fall apart. It is going to be a very interesting rest of the year.

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    44. Maybe. There could be a deflation before hyperinflation. I have been pondering over this, but with a 2 to 5 year time horizon, Gold & Silver will be a great investment.

      Two guys and sites I always read:
      http://www.tradeawave.com/charts.html
      http://www.bushongbusiness.com/skip_danger/

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      • eric says:

        I think so as well, if they dont have business then prices drop but as world prices for food increase and we export corn and everythng else the other side of me says no it wont come down either. i hear ya

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    45. DPS says:

      Can’t really say much about this story other then somebodys trying to screw somebody as always. I think groceries are going to be a wise investment, If gas and diesel climb up to the prices projected then it would take a few ozs of gold to feed your family for a few weeks. If folks are smart they should be buy the hell out of food not to mention beef. Last summer I was buying briskets for $1.59 per pound so far the are up to 2.99 a pound and I live in beef country.

      DPS

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      • Hammerun says:

        Try bacon. I was at the store today and I saw that bacon was $4.49 a pound. At this time last year it was $2.99. Those two hogs we are raising in the back are worth more every day. By the way, their names are Ham and Bacon. Num num. Gas at Shell was $4.49. I just love this Obameconomy, aint it just fucking GREAT!!

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        • DPS says:

          Hammerun,

          I hear that gotta love some bacon and hams, And damn them ribs are good. I talked to my customer over the weekend and he has been killing a couple a pigs almost every night. I head down that way some time next week, Im thing I need another freezer. Gas is still $3.39 here in the Tx panhandle but diesel has climbed to $4.09 so the drive down south will cost me out the ass, but hey guess I’ll just have to raise my bid.

          DPS

          PS He is a great guy he ordered me a green laser for one of my rifles. No Charge for that..

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          • Hammerun says:

            I talked to one of my brothers last night in Green River Wyo, he about shit a kitten when I told him gas was $4.49 here in ca. He said it was still “ONLY” $3.09 there. Damn what a bargain!!

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        • Ranger says:

          Yep that’s change fer sure. Actually, it’s about all that’s left. Change that is.

          Rate This Comment: Thumb up 1 Thumb down 0

    46. Cinderella Man says:

      This is all a smokescreen. The smart money is betting on gold to rise. Im not rich enough nor have the time to wait for a payoff to invest in gold. I invest in land and hooves. So far this is the best time ever to be in ranching. Beef prices are exploding and thanks to TX the beef herds are way down. It means higher prices for shoppers but with people making money in selling their cows and sheep they will invest in the local economy. There is not much time left in the world. As we speak our govt. is going to get us into more wars, and we are all going to suffer. This year is the final act I believe. Maybe not the mayan calendar ending but our society as we know it is rapidly changing..I wish you all the best fellow preppers!

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      • ponomo says:

        $1.60 frn’s for steers in LaJunta a couple days ago. My neighbor shipped six truck-loads for that price. land, water, livestock, and lead.

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    47. Joerocker says:

      I don’t think we will see $1000 Gold, looks like $1500 is the bottom.

      sure, there are those who want to scare off the weak.

      Gold and Silver is “Real” money.

      my 2 cents.

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    48. possee says:

      DPS

      I agree..

      TPTB manipulates everything..especially the PMs ..

      I’ll stick to my precious metals..brass lead and tin cans

      They will feed me..keep me warm..cook my food..and protect my food water and supplies from the hordes as they cash in all their “precious” for bread and water..

      good luck with that..

      possee

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    49. possee says:

      More than likely..if a real crash occurs..

      the 1st act that TPTB will do is devalue all PMS and then confiscate all those (on record) who own the pms..

      just as they did in the last crash..

      or has everyone forgotten that?
      hmm.

      Given the nefarious actions they have undertaken over the last few years..all bets are off,,

      possee

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    50. Transmutant says:

      Silver and gold (in my case silver) is a hedge against inflation, devaluation or total collapse. Look, I’d be happy for the REAL price of the metal to go down and that will only happen if the dollar increases in value. I have silver not to “make money”, but to have a constant value hedged against the dollar and any other paper fiat currencies. Now, if you deal in paper and are looking at “making” more paper, then you better watch out; and this is what the “analyst” is talking about.

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    51. Hammerun says:

      @Possee
      1. the 1st act that TPTB will do is devalue all PMS and then confiscate all those (on record) who own the pms..

      Good luck on that shit, I believe “I sold it all (PM) at the Swap meet”

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      • Highspeedloafer says:

        Me too Hammer, I sold all of my PM’s to buy ice for prepping. It all melted and I have nothing to show for it now. I really thought you could bury ice and it wouldn’t melt, Honest!

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        • Hammerun says:

          Ok here’s a good one. My Grandfather back in the 30s would go out in the winter and cut block ice off of frozen lakes and ponds. Why you ask? He owned a sawmill and a bar/tavern. Taverns need ice. He would bury the blocks in a trench on saw dust and in between them and on top of them. He said the sawdust was such a good insulator a 300# would lose about 160# by August. He said if he put the right amount underground he usually had ice into late August, in “Missouri.” Everybody loves a cold beer in July and August. Under the right conditions you can keep ice in the ground, just don’t tell them, you know those other guys.

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    52. Sid Davis says:

      I also believe gold and silver have entered bear markets and the ultimate lows will be below where the bull market started back in 2001. I don’t think we will get to the bottom till around 2015, and the price collapse will be brutal for all the people who have been drawn into the “hyper-inflation” argument.

      Interest rates have nowhere to go but up since they are being kept artificially low by the Federal Reserve Bank, and they can only be held down for so long. When the interest rate increases, assets like real estate and precious metals are driven down.

      One thing to consider also is that when a bubble burst the next bubble is always in a different asset class. Gold, silver, and bonds formed bubbles. The silver bubble burst last April. Gold probably has burst, and bonds surely will soon burst. Look for a stock market bull move that will last till this coming autumn when it will end too.

      There are not many places to hide.

      Just my opinion.

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    53. Mr. Peepee says:

      Curious, but did anyone notice that silver spiked as gasoline spiked? Any relation? I’ve noticed that silver is slowly dropping again.

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    54. DPS says:

      Off the subject but some funny shyt.

      http://www.thedailysheeple.com/police-state-humor-drone-crashes-into-texas-swat-team_032012

      Man that makes my day..LOL

      DPS

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      • SmokinOkie says:

        Thanks DPS. Always good to see our tax dollar funded government enforcers in action! When I was a kid, we built model rockets and never could have done it this well. Best we ever did was hit the neighbors outhouse. The old guy next door was using it at the time, so, yes, it was worth the whipping we got later! :)

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        • DPS says:

          Smokin,

          Yes sir those were some fun days. I remember making tennis ball cannons out of coke cans and light fluid, its all fun and games till you set somebodys shed on fire with a flaming tennis ball.

          DPS

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    55. EastTenn says:

      When you compare the industrial uses of silver and gold, silver is far more important than gold. In fac, there is probaly more physically available gold than silver due to the fact that the majority of silver used in manufacturing is never recovered while gold is. From cell phones to solar panels, silver is in them all. It Silver is also used in the medical feild to as an antibacterial agent. Sooner or later, the availabilty of silver will be smaller and smaller and the price will only go higher. Two other metals to look into is palladium and platinum compared to gold. They are also used extensively in manufactoring and chemical manufacturing as catalysts.

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    56. SmokinOkie says:

      Just got back from Safari, so here’s the Gnus Of The Day- It’s mostly sex, drugs, and rock n roll…without the drugs or music part.

      Sandra Fluke is getting her 15 minutes of fame. She’s the woman who testified before some irrelevant government committee and said health insurers should be required to provide birth control whether they want to or not. Her fame happened when Rush Limbaugh called her a ‘slut’ on his radio show. Now, I’m not the biggest fan of Rush, although I do admire his ability to piss off liberals. But to me, he’s just entertainment. Now it seems, the TOLERANT crowd has its panties in a wad over the remark. I’m not saying if Rush was right or wrong to say that, and he has apologized for it. All I know for sure is that Sandra’s phone number is listed on every truck stop men’s room wall from Memphis to Bakersfield. Heck, I even called her once myself, but kept getting a busy signal.

      Some of Rush’s advertisers have bailed out because of the uproar. AOL stopped its ad, claiming the moral high ground, like idiots with no logical reasoning faculties always do. Analysts predict the on-line company may see a 25% drop in viewers by not advertising. To put that in real numbers, that means a drop from 16 daily hits to 12. Hope they can survive the loss of revenue.

      One other note on all this. Ms. Fluke has been making the most of her 15 minutes. She was on ‘The View’ yesterday and that got me to thinking, why is it always the women who argue the loudest for birth control, are so obviously the ones who will probably never need it?

      Barack Obama’s transgender nanny is in the news. He/she is facing fierce persecution in his/her home country of Indonesia. I guess the locals there don’t like the idea of tampering with the way God made you. Folks in Okieville are the same way. Call us rednecks, intolerant, backward. We don’t care. We believe if you start life as a Ford man, why in hell would you buy a Chevy? And vice-versa. I mean, it just ain’t natural.

      It seems that young kids will swallow anything. A 3 yr old girl in Oregon was taken to the hospital for what her parents thought were symptoms of the flu. Doctors ex-rayed and discovered she’d swallowed 37 magnets and her intestines were damaged. They operated and, thankfully, she’ll be fine. The surgeons made another startling discovery while they had her innards open. They found 6 pennies, 2 tv remotes and Obama’s real birth certificate. Two of the pennies, however, turned out to be fakes.

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      • Hammerun says:

        My wife and I were talking about the quote, Ms Fluke debacle. We came up with a perfect solution for the poor wilting little 30 year old flower. First, abstinence, keep her legs closed. Second, use a flipping condom. Third, turn lesbian. Fourth, swallow. You see, all are effective, inexpensive, fun in some cases and we won’t have to pay for Ms. Flufes pregnancy prevention while taking out the football team.

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        • Minnow says:

          Hidden due to low comment rating. Click to read it.

          Poorly-rated. What do You Think? Thumb up 2 Thumb down 14

          • Hammerun says:

            @Minnow
            Hate in these last two comments is astounding? Really? Were you equity “astounded” as your side (the left) cut up Governor Sarah Palin? What about that level of hate? Were you as yappy about that? Palin had to endure a ton more shit than this chick EVER will.
            This was in jest, at least on my part. But the crux of this situation is, this chick is a plant for Obamacare and the left. It was a deception from the onset. She is 30 NOT 23. Her cost analysis of $3000 for three years of BC is pumped up and wildly off. This thing is nothing but a LIE and self-promotion!! And further more if she put herself out there she knew she was going to be hit, she wants to be part of the team and she thinks this will get her there. Too bad the TEAM is going to grind her up. This nothing but a leftist standard tactic. I don’t think her dissenters went far enough; they really need to rake her ass over the coals. Just like what the left does. I have no pity for her or her plight at all, she got what she wanted.

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          • ScoutMotto says:

            Nevermind that this gal would have to be having three encounters per day to use up all of this birth control supply. Three encounters per day! Why would someone want to advertise such a life? Minnow, you may call it hate, but I call it reality. Though she likely doesn’t care, this gal does not have my respect.

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          • Odd Questioner says:

            Limbaugh said it in poor taste, but reading through the transcripts, I see no instance of him directly calling her a “slut” or a “whore”, or a “prostitute”.

            Otherwise, seriously? Ms Fluke should try masturbation if she can’t afford the pills. It’s not our job to buy them for her.

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      • SmokyMtnLady says:

        LOL!! Enjoyed the laugh Okie…thanks!!

        Rate This Comment: Thumb up 1 Thumb down 0

      • Odd Questioner says:

        “Political Correctness is nothing more than pandering to the most emotionally unstable person in the room”

        -John Cleese (paraphrased)

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    57. Chunk says:

      All this tells me is, gold and silver are going on sale. Time to buy again. Now if my third most favorite PM – lead – would only drop in price I’d buy some more of that, too.

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    58. Raymond says:

      Bernanke is playing the mind game, he is trying to scare people to get out of gold n silver market. Dear ALL members, hold tightly to your gold coins n silver coins. Don’t sell them off and get trapped by Bernanke’s mind game.

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    59. Mike McBee says:

      China, India, Russia and Vietnam are buying up all the gold they can get.

      China does not trust USA with their trillion dollar reserve. They will buy gold.

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    60. ScoutMotto says:

      Mac, I always appreciate your efforts, but I’m not sure I agree with the people quoted in the sources above.

      In order for gold to go down in price, either a bunch has to be dumped on the market at once, or the federal reserve note has to be seriously deflated. Neither of these possibilities is likely from how the trends appear. Investors and central banks have been snapping up gold as of late, and with the national debt where it is, hyperinflation seems more likely than deflation.

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    61. NSBF says:

      Silver currently at 33…and it is still early. Guess, I will be visiting my local silver shop soon. Small purchase by the end of the week. Watch, wait and cost averaging is our plan.

      DPS, any picks on the closing price for today? =)

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    62. oldboy says:

      The entire investment space is mucked up at the moment. The artificially low bond rates are a huge risk…the Fed simply cannot raise rates without destroying many financial institutions (and themselves as the largest US debt holder).

      Equities are floating on free money. Expect wild swings to continue. A crash in bonds could tank stocks as sound assets are sold to cover losses (this happens a lot with gold too).

      Real inflation is around 8%, so savers and fixed income folks get hammered. Yet at the same time in real estate and some countries a deflationary spiral is in place worse than the 1930s depression.

      Go figure.

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    63. Jeff says:

      A little late in this conversation but I would say if I had a silver dollar for every time they parade their bubble theory to the sheeple I would be rich. Wait…I am rich. Because I bought gold and silver from 2000 on. I know this market like the back of my hand and I’ve traded for a decade 24/7. My advice, if you have no metal is to buy now. If you’re waiting for that $1000 pipe dream you will find yourself sitting in the cold. I respect all the comments here as we all have our beliefs. But regarding silver, it is more than an industrial metal. Has been used as money more than gold for most of history. China is buying all it can, which should tell you something (buying gold also). China’s coinage used to be silver. Like so many others(countries). Remember the peso ? Just my 2 pesos. Buy silver. Now.

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      • durango kidd says:

        Jeff: I agree with your advice and your comments, BUT China is buying silver now on the cheap, to shield their manufacturing base, not because their are going to use it for coinage.

        Don’t look to history for the future use of silver, or any of the other precious metals either. There are more valuable uses of these metals beyond coinage.

        A little silver on some recepticles, a little gold on a wafer, and you can sell plastic worth pennies for $400.

        The rest of your advice is good.

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    64. possee says:

      “There will be, in the next generation or so, a pharmacological method of making people love their servitude, and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them, but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda or brainwashing, or brainwashing enhanced by pharmacological methods. And this seems to be the final revolution.” Aldous Huxley

      enjoy your gold..

      it will be made worthless by TPTB

      possee

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    65. Ranch says:

      Price won’t go down much, $1400 is floor and that is really a stretch. Way too much paper money around the world, way too much debt, no ability of fed bankers to raise rates (high rates are the ONLY thing that drive down price of gold), and extremely strong demand in China, India, Thailand, and so many other countries.

      I say ignore the predictors and just keep accumulating each month whatever the price may be.

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    66. Jeff says:

      “enjoy your gold..

      it will be made worthless by TPTB” More worthless than the dollar currency ? I think not and that is just the point. The dollar has devalued 95% in the last few decades. Possee, can you show me any proof that will not continue? You seem to WANT it to be worthless. DK, thanks for the comeback. But I’ll rely on 5000 yrs of history and the value of gold and silver. I know where you’re coming from. I’ve read it all. Other than betting on barrels of oil we are left with but one alternative…. This site is great because of this interaction which makes us all consider every angle…..You guys that can’t communicate without using the “F” word might consider listening and learning from this site. Just saying…..Even here where you would think you would find caring, like-minded folks, you also find a real lack of humilty and civility. We can all store all the essentials till hell freezes over but without that compassion for your fellow man what do we really have in the end ?

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      • possee says:

        Jeff

        Given the insidious nature of the likes of Goldman/JPMorgan and the rest of the commodities manipulators..

        Nothing would surprise me at this point..

        Look,those few commodities traders (who now are exposing the inner workings of these heisters)explain quite well how the entire market is rigged..especially the precious metals market..

        The entire western world economies are leveraged beyond imagination..all designed to implode..and well on the way for the most part..

        It is my belief that they will devalue gold and silver as well once it serves their purpose..

        All a matter of timing…

        and then utilize the feds to legally confiscate all PM’S at pennies on the dollar..

        Of course if one has gold or silver coins etc under the radar..now that is an investment..for local barter

        The plan is to devalue all western currencies and institute SDR’S….”special drawing rights”

        and leaving the true value of PM’S relatively worthless til decided otherwise..

        Just my humble opinion from years of reading and learning the curve coming our way..

        possee

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    67. Silverado says:

      “it is a highly volatile fringe asset”.

      Spoken as only a true paper-pushing Englishman can speak…..considering that they seem to know nothing about it, as one of their more famous idiots sold almost all their gold at the market bottom no less some years back, as I remember. Fringe?? That DOES describe Gordon Brown rather well, doesn’t it??

      Besides being real money and therefore real wealth, these freaks of humanity like Gordon Brown ALWAYS seem to forget that real wealth is measured with a scale and comes in grams, ounces and kilos. Not in govt printed to infinity paper promises to pay or even worse, your wealth expressed as virtual digits floating around in cyberspace, NEITHER of which have ever withstood the tests of time.

      Thank God and our Constitution I live where I live and we have LOTS of guns, plenty of food and a real dislike of ruling class bullshit that’s been growing by the day. Here’s to a better tomorrow….

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    68. No Country For Constitutional Men says:

      The Central Banks of the world have injected almost $7 Trillion into the global Ponzi Scheme to date. Who in their right mind believes the CBs are done with money printing on a massive scale? When global finance blows sky high, I’m sure all hard assets will come down as well, but I hold mine while those with paper assets will be at the mercy of creditors/pigmen and the authorities who do their bidding. Do you really want to hold anything that carries counterparty risk while the Ponzi crashes? I will take Gold for a thousand Alex, and can I bring my truck to the show, as I will back it up and load it to the top of the sideboards?

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    69. Jeff says:

      Posse You think SDR’s won’t have a gold backing ? Tell that to Russia, China and the rest of the world accumulating gold as fast as they can without pushing the price too high. China is now opening their own Comex and will tell the US to stick it. Our days are numbered and the BRICS will make the rules…..We will agree to disagree….

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    70. In the Know says:

      Don’t fall for the mainstream media lies. Silver and Gold crashed last week just as Ron Paul started questioning Ben Shalom Bernake. Coincidental? Hardly! They were sending a message that we control this situation. More contracts of silver were sold than can be produced in one year. That is why they shut down the Asian Metals exchange ready to come online. They do not want a real metal exchange. Gold and silver have historically held their value…throughout history. Why did the socialist FDR make it illegal to own gold? So the Fed could print worthless paper to confiscate it for nothing. The Powers that Be are just trying to scare off everyone so they can cover their short positions and buy it for a pittance of its real value. Supply and demand of physical gold and silver does not equal the fraudulent paper on the COMEX. Hold tight to your physical metals.

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    71. Jeff says:

      Actually the metals started to crash BEFORE the Bernanke spoke (the central banks never being one to care about timing since the MSM never calls them on it)…..Here is the latest on China/Brics. All dollar neg. Does that sound gold neg ? BTW, the Asian exchange was scraped in Taiwan only to be reorganized and opened in China. And it will be more silver oriented. So much for silver being “less important”…..the article…[http://www.zerohedge.com/news/china-moves-further-marginalize-dollar-offers-cny-denominated-bric-loans]

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    72. Raymond says:

      Dear ALL members,
      redeem all your paper gold GLD to physical gold,
      redeem all your paper silver SLV to silver coins,
      so as not to let the bad guys manipulate the price of precious metals.

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    73. Hi Mac! Sounds like they’re ramping up the propaganda machine… I hope everyone is ignoring them and still stacking gold and silver and extended supplies.
      Don’t listen to the banksters, watch what they DO! They’re using the CME, COMEX, LBMA, etc. to keep the prices down and create volatility so they can snap up gold and silver at bargain basement prices. Take advantage of this situation and load up! It’s only a matter of time before the physical metals finally decouple from the bogus paper markets. When the decoupling happens, the likes of JPMorgan and HSBC will have to default on their naked shorts, and the people holding physical precious metals are going to be doing well while those who didn’t are going to be in a world of financial pain.

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    74. 41MagMan says:

      “It’s over folks. According to some analysts recent price swings indicate that the gold and silver run-up will soon be coming to an end.”

      Don’t these idiots EVER give up? All commodities are volatile. We all know that. SO?

      If they are really serious in their belief that gold is going to $1000 an oz., have they put all of their money into shorting gold? If not, then perhaps they do not have the courage of their convictions.

      There IS no gold bubble. Gold ownership is a very small part of American wealth. We would need to have widespread gold ownership and everyone and his uncle talking about AND buying gold. So far, not. Gold prices are higher now than they were 10 years ago because of idiotic government monetary and fiscal policies. A lot of us no longer trust the government or their policies. Why would we trust their money?

      There IS a government spending bubble and a FRN printing bubble, however, and both are MASSIVE!

      Gold not backed by anything? HAR HAR HAR!!! For those with IQs below room temp, gold IS backing. So are silver, platinum, and palladium for that matter.

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    75. dave says:

      its all a lie, there is no way to keep this country running with out printing paper. thats the mess they made! they know it, they just don’t want you to know it.qe2,qe5 who knows for sure but they can’t stop. thats why food and fuel keep going up while the dollar index go’s up. p.m. is a threat to the dollar and for now they are controlling its price’s. DO NOT SELL, BUY ON THE LOWS!!!!!!!!!!!!

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