"THE "ONE" THING I am betting is that those that purchased gold and silver are crying the blues as it takes a plumit since japan, but those that were waiting are thinking now is the time to buy..."
Neither of the above posts this morning have anything to do with silver or gold, but ok, I will address this anyways.
Yes, after purchasing silver since it was $5.00 an ounce, I am heartbroken that silver is now only at $33.00 and change. I hope it goes to $20.00 so I can back up the truck.
No, no one with a brain is crying the blues MH. So, you would lose that bet. Silver went to its current price before Japan, then skyrocketed, then went back down again.
Its called a cycle. Everything on earth has a cycle. The life of a fruit fly, or the rise and fall of civilizations. Learn the cycle, and life gets a LOT easier.
The dollar is up today, S&P futures are wonky to almost 3%, and Oil is down $4.00 today, no one is jumping off the top of the CN Tower yet. But people are leaving Tokyo!!!
The current cycle of silver is due, not to Japan, but in part to price suppression since a sustained move above $36.00 an ounce would cost too many people $$$ as they watch their short positions blow up in their face. Gigantic, enourmous amounts of money is being spent to keep silver below $36.00 an ounce.
Intelligent investors know that precious metals are for the long run, when the easily scared sell their silver because it dips, the intelligent investor starts buying with both hands.
I called the peak silver price and its current dip almost to the dollar back on March 7th. I will be surprised if silver does not go to $31.46 oz. or just below today.
While everyone else is hiding under their computer and chugging Lugols, people who were ready and waiting for this are now preparing to back up the truck. You will see major silver dealers start to run out of silver bars, even the 100oz. bars! I think APMEX only has 60 or so 100oz. bars as of writing this. Are you kidding me? Someone, somewhere, is buying with both hands.
QE will never voluntarily end. It has to keep going.
Food prices will continue to go up.
Every item needed to live will go up, while big screen TV's and iWhatevers will nosedive.
For the 500th time: Anyone who buys precious metals without first having ample amounts of water purification, storable food, clothing, medical supplies, ect,ect, is not thinking straight.
There will be many Darwin awards handed out during the events about to occur. Don't get one because of greed, or you will deserve it!