That's Capitalism for you.
Let the Gamblers have their way and it's the shortest term profit that takes precedence. Who cares about long term prospects when short term gamblers can make a fortune with a few quick deals. It's about time the bankers got their due deserts.
The only reason these things happen is because these jerks are not properly regulated with the interest of the common good.... I don't blame this guy too much. He's an opportunist and a small player. He makes money on crashes, as like most of us, cant figure out how to make money during the upswing. I have to admit we have made money on the last crash, and the dip in the early 90's as well... simply by holding our cards, and making a few opportune buys, knowing full well the markets would rise again.
Grandpa said a good horse trader always makes money on the buy not the sell
What he says of import is that fear is moving the market. Act fearless and you may increase your odds signficantly.. and where to look? T Bills and US bonds...
Glad someone is buying our debt! cause China is backing out and Arabia is history.
He makes it sound that the crash of Euro markets could stabilize the US dollar for a while longer... who knows
Those who bought silver to protect their capital are catching a cold-down 40% in a week.
The weak Euro means the $ has been strengthened and when the $ goes up silver and gold usually go down. Forecast is silver could lose a whole lot more.
Precious metals will only be down temporarily. For those buying for the long term holding it's a buying opportunity.
I agree. I've still more than doubled my money on my silver purchase several years ago and there is no where you can even make 6 to 8 percent anymore so, so far so good and metals seem to keep up with inflation. It's a long term investment and hedge against total financial ruin of whatever sort. Precious metals have been handed down in our family. I hope to hand these down too and if all goes well enough I will, if not it may be the means to maintain other aspects of our family estate, meager as it is. Always land is and house is the most valuable thing you can own with enduring value.
The central banks are selling off gold reserves to help countries' cover debt. This is only temporary, as the source of the problem has not changed. As long as there is such uncertainty, gold will gain strength.
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- Jim
Life is just one damned thing after another - Elbert Hubbard
Precious metals will only be down temporarily. For those buying for the long term holding it's a buying opportunity.
If one buys gold as a long term investment and bought some gold ten years ago would this slight drop cause them to rush out and sell it? I wouldn't think so. Probably just the opposite.
If one buys gold as a long term investment and bought some gold ten years ago would this slight drop cause them to rush out and sell it? I wouldn't think so. Probably just the opposite.
My husband was considering it. Glad he didn't. We have different views on the subject.... fortunatley you have to drive a long long way to sell any gold around here
Those who bought silver to protect their capital are catching a cold-down 40% in a week.
The weak Euro means the $ has been strengthened and when the $ goes up silver and gold usually go down. Forecast is silver could lose a whole lot more.
By the end of this year or early 2012, the price of silver will be over $50 per ounce.
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Let Food Be Your Medicine And Medicine Be Your Food.(Hippocrates)
The so called "trader" who was interviewed by the BBC turns out to not be a professional trader at all, but a self styled attention seeker who operates a "public speaking venture" business from his home, which after 4 years trading is in the red to the tune of �10,000. The BBC's face is probably even redder than his bank account.
Oh well, Guess he doesn't know how to pick em. But what he said still made sense to me... we never get to hear what the little guys say... only the big guys that know how to rip us off and wear their own kind of masks.
I don't "play" the stock market, its just too easy to lose your shirt. However, buying silver at $30 US per ounce and selling it in 6 months At $50 isn't rocket science.
Anyone who thinks silver will remain at or below $30 is out of touch with reality. If the price goes down before it goes up, or if it takes a little longer before it goes up, you just don't sell it... its a no-brainer.
Example, you buy 500 ounces for $15000 and sell for $25000 in a few months. Thats a profit of 65%, when the bank is offering 1.5-2.5%
I'm going to hypothetically buy 1000 ounces of silver today @ $30 and see where it is in January/February.
BBC News - The Eurozone Market Will Crash
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