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View Full Version : what the hell just happend?!?!?! $32.01


James007
02-18-2011, 03:27 AM
I filled up my cup and not it overfloweth! Someboady quick bake something!

FelixWankel
02-18-2011, 03:30 AM
Your right! I wouldn't have believed it if I didnt see it with my own eyes!...lol Silver is at 32 bucks an ounce!:D

kel2009
02-18-2011, 03:39 AM
I don't see it. Did it hit $32 briefly and dropped?

FelixWankel
02-18-2011, 03:46 AM
I don't see it. Did it hit $32 briefly and dropped?


yes it did.

FelixWankel
02-18-2011, 03:49 AM
I don't see it. Did it hit $32 briefly and dropped?

you can see where it hit 32 on the live chart here:

http://www.kitco.com/charts/livesilver.html

MauserMan
02-18-2011, 03:50 AM
Well, it has been in the high 31 range all day. The Asian market was even for a while, but must have bumped up a tad.

I'm still hoping it stays at 31 or so until I have time to increase my position this weekend.

Man do I stay up writing papers late sometimes... :rolleyes:

Killver
02-18-2011, 04:42 AM
I filled up my cup and not it overfloweth! Someboady quick bake something!

Not a closing price though, and quickly it's back to $31.88. Does it matter if it's an even dollar? I don't want ANYTHING to go up too much, including PMs- our stacks 'go up' but we have to buy the stuff ourselves at the new price: ouch.

Agathon
02-18-2011, 06:08 AM
Not a closing price though, and quickly it's back to $31.88. Does it matter if it's an even dollar? I don't want ANYTHING to go up too much, including PMs- our stacks 'go up' but we have to buy the stuff ourselves at the new price: ouch.

Exactly why I started stacking. Wealth preservation.

Years ago the wife said: "So what if PMs go up 5x! It won't matter if the price of everything else goes up 5x."

Me: "That's better than everything else going up 5x and the FRNs in your savings account actually going down in value."

Preserve your current purchasing power with PMs.

Ortofon
02-18-2011, 06:19 AM
So long as silver outpaces CAD in the long run, I'll be happy.

Kaching
02-18-2011, 06:49 AM
Not a closing price though, and quickly it's back to $31.88. Does it matter if it's an even dollar? I don't want ANYTHING to go up too much, including PMs- our stacks 'go up' but we have to buy the stuff ourselves at the new price: ouch.

Point taken.

RoadLizard
02-18-2011, 08:10 AM
Exactly why I started stacking. Wealth preservation.

Years ago the wife said: "So what if PMs go up 5x! It won't matter if the price of everything else goes up 5x."

Me: "That's better than everything else going up 5x and the FRNs in your savings account actually going down in value."

Preserve your current purchasing power with PMs.

Yes - thats about it too. Silver is more about maintaining wealth rather than creating it. Its a terrific savings account for the masses and thats kind of what I use it for. It protects my money and keeps me from buying stuff I probably dont need anyways. :D

savagegoose
02-18-2011, 08:12 AM
hope it closes there, my guess for the weekly guessing game was $32 :P

what happened
02-18-2011, 09:00 AM
...

Silver is more about maintaining wealth rather than creating it.

Its a terrific savings account for the masses and thats kind of what I use it for.

It protects my money and keeps me from buying stuff I probably dont need anyways. :D

There it is - the truth. Bankster's & greedy kenesian socialist manipulators can read it and weep.

145bluesman
02-18-2011, 09:10 AM
The shiny dog will be considered cheap at 32 when it reaches sixty.

Guardian
02-18-2011, 09:19 AM
Yes - thats about it too. Silver is more about maintaining wealth rather than creating it. Its a terrific savings account for the masses and thats kind of what I use it for. It protects my money and keeps me from buying stuff I probably dont need anyways. :D

I would humbly disagree with this statement. I believe perhaps gold is for wealth preservation, but silver has the potential for wealth generation for many reasons.

One example is the shortage of above ground supply combined with the artificial manipulation of price for many years. This imbalance will need to be realigned. It has rubber band upshot energy behind it right now.

Silver straddles both industrial and monetary. That supply serving industrial has been used up in such minute quantities that it is not feasible to re-harvest at current prices.

Therefore, silver can make you wealthier, and gold can help you to maintain your purchasing power.

bigsacks
02-18-2011, 09:28 AM
Exactly why I started stacking. Wealth preservation.

Years ago the wife said: "So what if PMs go up 5x! It won't matter if the price of everything else goes up 5x."

Me: "That's better than everything else going up 5x and the FRNs in your savings account actually going down in value."

Preserve your current purchasing power with PMs.



Silver goes up 5x, my mortgage stays the same.......=me win......

RoadLizard
02-18-2011, 09:31 AM
I would humbly disagree with this statement. I believe perhaps gold is for wealth preservation, but silver has the potential for wealth generation for many reasons.

One example is the shortage of above ground supply combined with the artificial manipulation of price for many years. This imbalance will need to be realigned. It has rubber band upshot energy behind it right now.

Silver straddles both industrial and monetary. That supply serving industrial has been used up in such minute quantities that it is not feasible to re-harvest at current prices.

Therefore, silver can make you wealthier, and gold can help you to maintain your purchasing power.

Oh I agree with you to in some ways. I guess the issue is that dollar itself is the key to real wealth creration. If it keeps sagging then we havent created very much true wealth...in FRNs that is! If the buck stabilizes and silver keeps its ascent - watch out! ;)

gene Daniel
02-18-2011, 09:36 AM
Yes - thats about it too. Silver is more about maintaining wealth rather than creating it.

I agree... to a point. I believe the POS has languished for many years and is ready to play catch-up. You can attribute that manipulation, market glut, price suppression, or stupidity (I think it is all of the above). The reason doesn't matter.

What does matter is that it is playing catch-up with the price of other commodities now and that will do more than just perserve wealth, it will build wealth.

silvereye
02-18-2011, 09:56 AM
hope it closes there, my guess for the weekly guessing game was $32 :P

My guess was 31.55 but I would rather see you win. Actually, my first choice would be silverone.:D
SE

Guardian
02-18-2011, 11:50 AM
Today just might be a great example of wealth creation!

Silver is on a tear.

But of course what goes up, may go down. we'll know at the close.

Spinwheel
02-18-2011, 11:51 AM
Or wealth transfer...

Jolyman
02-18-2011, 01:18 PM
Deleeete ;) :D

stjdavis
02-18-2011, 01:22 PM
I don't see it. Did it hit $32 briefly and dropped?

JP Morgan shorted more.