Silver and Gold price Update

[manonfireb4u]

the economy is a farce and being manipulated by secret societies. the next crash will lead to a change in moneys. if you are going to buy gold buy it when it is very low.

[17seventySIX]

HOW DID THAT WORK OUT FOR YOU? wAITING FOR SILVER TO GO DOWN...BUY NOW AND ALL YOU CAN

[davincij15]

@17seventySIX

My position is set I have lots and lots of silver if I miss a move No biggie.

[airwickairwick]

careful, the Chinese are making perfect fakes of almost every type of round / coin and even old 90 percent American silver. Watch what and where you buy. A lot of the crap sold on Fleabay is chinese shit make of alloys that they have perfected with a density very close to silver

[Breycor]

Davinci, what are your thoughts of the "FREEGOLD theory"?

[davincij15]

@Breycor

Don't know what it is.

[Breycor]

@davincij15 Davincji -- Please google "freegold theory" and study FOFOA's blog. You and I are on the same page on so many things -- so I'm interested to see if you agree or disagree with this theory.

[davincij15]

@Breycor

I don't know what it is no one has clear definition of it.

Example Modern Monetary Theory:

The theory is based on the idea that it is governments that create money instead of people’s goods, skills, and services.

I can't find a clear definition.

[Breycor]

@davincij15 Freegold, meaning the free market price of gold, is the massive revaluation of the gold price -- which should land between $40,000 to $70,000 per ounce. Because of the possibility of Freegold, I've stopped buying silver and am only buying gold from here on.

[davincij15]

@Breycor

Well, the problem is the $40,000 will still buy you a suit and shoes. While silver will go to 1 to 1 with gold thus silver will buy you that suit and shoes where it can hardly  buy you shoes today.

[ecuspies]

I hope it goes lower... that means I can buy more. The falling of gold and silver doesn't change the Federal Reserve policies. The falling of gold and silver won't change the corruption that plauges our governments. I wish I could make more dollars to buy more silver and gold.

[davincij15]

@ecuspies

You can but it requires a lot of effort to earn money and to some it's just no worth it. That's fine there is nothing wrong with that but they should not get angry at someone who does put in the effort.

[ecuspies]

@davincij15

I agree completely. I've also realized that the dollar is intertwined with oil and being the world's reserve currency. The minuscule info that does come out from mainstream media focuses on that changing around 2018. I am putting in effort to accumulate more paper dollars (to convert into real money of course), but more school and debt isn't a viable option to me. If i keep on accumulating money the way I am now, I will have a viable storage of wealth before economic doomsday...

[ecuspies]

@davincij15

Also, the Dagong credit report from China is disturbing. We all know that the Chinese government controls all faucets of their media, and if they didn't want that info getting out, it wouldn't have. China is making it known that it will not be the US creditor for long. Policies that the government are making doesn't reassure me enough that "change" is coming. The collapse is inevitable. Gold and silver will be manipulated enough for me to buy more. I hope others follow suit.

[cbr6864]

i told you gold bubble i called it back in may, we will continue to see prices drop

[davincij15]

@cbr6864

LOL all the way to $1100

OMG I will be wiped out I only purchased my gold at $700 to $900.... Wait a tick!

[cbr6864]

@cbr6864 everyone was calling for it to hit $2000-8000, that is my point. end of this year early 2011 check the price of metals. just look at last 60 days

[Anothercoilgun]

No more than usual. Silver fluctuates between 17.50 and 19.00 every 7 to 14 days all these pass 6 months. Boo hoo to all the scary punks "I want out, I am scare of silver. Help me!". No you davincij.

[TheNRA4ever]

Thanks to a snealy portion of Mao-bama's health care bill, gold and silver dealers are crappin their pants because they have to report all sales over $600....This is causing a lot of people to sell if you look at the charts on Kitco lately.

[davincij15]

@TheNRA4ever

Right, a tax that will not come into effect until 2012 did it mean while a 50% increase in capital gains taxes and dividend taxes coming in jan 2011 lets DOW stocks rally from $9600.

Supply and demand have noting to do with the price of silver gold and most other commodities. They are controlled because they reflect the value of the paper dollar that has no value.

[Azgard333]

The name silver came from the old english word seolfor.

[drutter]

This fall is going to be insane for silver, for so many reasons. This is going to the cheapest silver sells for in a long time. I don't see it hitting $17, but either way, this is an excellent time to buy. Too bad most buyers won't bother buying until it's hot again and pushing $20+!

[ABlackDogProductions]

I got my fiat currency ready to trade for some silver.

[grasshutz]

well, i guess now I am forced to hold silver......

[tuubydude]

One of the goals for war with Iran is their response in shutting down the flow of oil through the Straits of Hormuz. This will jack the price of oil way up and also the value of the Dollar since it is how oil is traded. What do you think this will do to gold/silver?

[NewAmericanOrder]

Get ready to back up the truck on silver.......

[aznmav2]

probably drop to $17 then up from there as usual

[watersings]

this is THE take down week(end of the month as usual) by the bankers, load it up.

[SpecialFester]

My favorite movie quote ever:

-

George Clooney: "...in one of Saddam's old bunkers, MILLIONS in Kuwaiti bullion."

Conrad Vig: "You mean them little cubes you put in hot water to make soup?"

George Clooney: "No... Not the little cubes you put in hot water to make soup."

Mark Walburg: "He means gold bricks Conrad."

-

Hahahah I love it!

[charlesfuchs]

Love this video because in a few years, people will look back at this video and my comment and then say WTF, silver was around $17? WOWZERS!!

[pringle959]

Davincij15 the global elite at the bilderburg conference already announced they would tank it to 999$ before sending though the roof below 1000 is the KEY buying apparently but what ever i could be wrong but thats just what i heard.

[joe9083]

Hi Dav the battle is on!.The more they push the price down the more we should buy its a game of chicken

[Mr1openmind]

Agree Gold as low as $1040 possible.

[davincij15]

@Mr1openmind

No. It will never test below 1050.

[stellaconcepts]

options expiry today - no suprised here - will be up from here

[dodoinurpants]

I like roller coasters anyway.

One thing is for sure...they will have to build bigger roller coasters after the next stimulus.

[TeacherPhilEnglish]

I will buy G/S at 700 / 12

[Eraser7622]

@TeacherPhilEnglish

You will not be buying any more G or S in that case.. hope you have enough already :)

[silverfuturist]

Great analysis

[740roadking]

just picked up a lillte of both,,,,, Thanks & keep the video's coming

[Raycheetah]

Thanks! That's exactly the information I've been looking for. =^[.]^=

[GuildF40]

wanna beat ya 17.30 :o)

Cheers mate

[davincij15]

@GuildF40

You may get your chance.

[GuildF40]

@davincij15 THAT WAS CLOSE lol

[Battleaxegunner]

Thanks for sharing!

[WttrW2012]

opt ex bashing as usual, nice (last imo) buy opportunity.