The Silver Market

[btcave]

Interesting interview concerning the silver market. Eric Sprott.



part 2
http://www.youtube.com/watch?v=UqQjE...feature=relmfu

part 3
http://www.youtube.com/watch?v=d0Smd...endscreen&NR=1

[O.S.O.K.]

Sounds like I need to do a hardship withdrawl on my 401K and get some eagles... that's my choice - silver eagles. The hardship thing won't be hard to justify - I have a kid in college and my wife is losing her job (we're moving...).

I really feel exposed with my 401K in Bonds - not like having it in various stocks but still, there's just nothing like having in your hands a medium that will not ever become worthless. I don't have that much but I'd hate to lose it regardless. It's 4 years of savings with maximum withholding allowed under the program.

Yes, it can lose value, but so can everything.

I fully expect the dollar to become a shadow of itself and when that happens anything like silver or gold or farm land will skyrocket in dollar value.

Having one of those and a fixed rate loan means that if we see that kind of inflation, you can cash in your assets and pay off the loan (think mortgage).

That would be a huge win. Huge.

It would also protect you against rising property taxes or other BS that could threaten you... you'd have a hedge.

Thanks for posting that.

[btcave]

No problem.

I'm doing half Silver Eagles and half Silver Rounds of various manufacturers. I'm still on the fence about 90% US coins (Junk Silver). I may buy some of that next year. Gold is beyond my reach. Maybe I'll purchase quarter ounce or 1/10th ounce down the road.

I have been investing in physical silver bullion quite a bit lately. Our 401K and our two IRA's is kicking around $20,000. Not much, but we only started saving for retirement about 5 years ago. I'm 43 and she is 46. I've got a military retirement, but I'm not sure how that's going to shake out during any possible austerity in the US down the road. So, more silver bullion each paycheck. My only real concern is the mortgage. It's gonna be there for the next 20 years I'm afraid.

I decided since I have trouble not dipping into my savings for gun stuff, etc. That in bullion form I am prohibited from spending my money on BS unless I make the effort to exchange it for cash first. It's kept me honest. That's why I don't have a supressor for my 6.8 SPC yet. Saving bottles and cans for that baby.

OSOK, don't do anything too drastic. The pricks in the financial system could keep this scheme going on for decades, but I'm betting it's less than a decade before the economic SHTF.

[O.S.O.K.]

Well, as much as I want to, I'll probably hold off until after we move, get a financial advisor and maybe create a trust (living trust). If there's some way to keep from taking the 10% hit, I'll do it.

I think we're looking at a lot sooner than 10 years though. More like two or three outside. Jsut my guess given what I've been reading over the last year or so.

[btcave]

More. A better interviewer.



Part 2
http://www.youtube.com/watch?v=3PmrR...feature=relmfu

[btcave]

More.

http://www.silverseek.com/article/co...m-shift-silver

[btcave]

Well, as much as I want to, I'll probably hold off until after we move, get a financial advisor and maybe create a trust (living trust). If there's some way to keep from taking the 10% hit, I'll do it.

I think we're looking at a lot sooner than 10 years though. More like two or three outside. Jsut my guess given what I've been reading over the last year or so.

There is a silver and gold IRA that you can transfer into. You have to have faith that they are putting the physical silver and gold into the vaults to cover your IRA. There are other companies that offer precious metal IRA's.

[Viking350]

Sounds like I need to do a hardship withdrawl on my 401K and get some eagles... that's my choice - silver eagles. The hardship thing won't be hard to justify - I have a kid in college and my wife is losing her job (we're moving...).

I really feel exposed with my 401K in Bonds - not like having it in various stocks but still, there's just nothing like having in your hands a medium that will not ever become worthless. I don't have that much but I'd hate to lose it regardless. It's 4 years of savings with maximum withholding allowed under the program.

Yes, it can lose value, but so can everything.

I fully expect the dollar to become a shadow of itself and when that happens anything like silver or gold or farm land will skyrocket in dollar value.

Having one of those and a fixed rate loan means that if we see that kind of inflation, you can cash in your assets and pay off the loan (think mortgage).

That would be a huge win. Huge.

It would also protect you against rising property taxes or other BS that could threaten you... you'd have a hedge.

Thanks for posting that.

OSOK, be very careful if you have your 401K weighted heavily towards bonds. With interest rates at historic lows, there is no where for them to go but up. As interest rates move up, your bonds are worth less. You can mitigate this risk somewhat by investing in shorter term bonds, since they are affected to a lesser degree by interest rate fluctuations. The trade off is rates are lower on shorter term bonds. The old rule about diversification in your investments still applies. You shouldn't have to much of your money in any single class of investment.

[O.S.O.K.]

Thanks - I don't want this long-term. I just put my funds into bonds to protect them from a sudden loss like happened in the last crash. I was lucky and didn't lose much as I didn't have that much on account at that time. But I don't want to learn the hard way... I really am looking at cashing in and taking the hit so that I can get the physical coins. I am just paranoid as to what will happen when things let loose and I think we are closer to that than any of us realize. Much information is kept from us.

I really don't feel comfortable or have any faith in anything that can be declared "frozen" by the federal govt. which would deny me access while they figure out how to best steal it from me. I'd rather have the control.

I know this sounds extreme but I think we're heading to some exteme times... we'll see actions taken by the federal govt. that its never taken before - they will feel compelled to do so. It will be an emergency situation and those holding hteir assets will be the most imune from the detrimental effects. They'd have to literally hunt you down and find the silver, gold or whatever or take your land from you in a grab.

[O.S.O.K.]

Damn. Listening to that second vid... sounds like we're on the cusp of seeing silver prices skyrocket... if supply is being streched and the silver funds being oversold, etc. - that is to say demand is high high and supply is low, how could the prices not go up?

He says he's mystified as to why they haven't yet... and stated that all's it'll take is a manufacturer to not be able to get the silver they need and "then the gig will be up" - which I take to mean the prices will go up to where they should be...

Sounds to me like we'd be idiots not to invest in physical silver - I've never heard a more cut and dry situation... which explains the large demand... but I too don't understand why the prices haven't gone up already... what else is at work here?

[El Laton Caliente]

I just bought two OZ. of gold and $3,700 worth of gold & diamond jewelry. I plan on getting another $2,600 in 90% coins later this month...

The wife is trying to get me to cash out the IRA completely and put it in silver...

[O.S.O.K.]

I don't know anything about diamonds but I do remember hearing that there's a glut of them - and that makes me think they're not a reliable investment...

But that's just me.

[El Laton Caliente]

It's a family thing... Mom's old jewelry the granddaughters didn't want. It was a way of handing Dad money he wouldn't take otherwise...

No, I would not take diamonds normally except maybe at pawn shop prices... likely not even then. Truth is they can make diamonds now, there will never be any real value to them over what they cost to manufactor...

[O.S.O.K.]

OIC

[tarheelpwr]

No problem.

I'm doing half Silver Eagles and half Silver Rounds of various manufacturers. I'm still on the fence about 90% US coins (Junk Silver). I may buy some of that next year. Gold is beyond my reach. Maybe I'll purchase quarter ounce or 1/10th ounce down the road.

I have been investing in physical silver bullion quite a bit lately. Our 401K and our two IRA's is kicking around $20,000. Not much, but we only started saving for retirement about 5 years ago. I'm 43 and she is 46. I've got a military retirement, but I'm not sure how that's going to shake out during any possible austerity in the US down the road. So, more silver bullion each paycheck. My only real concern is the mortgage. It's gonna be there for the next 20 years I'm afraid.

I decided since I have trouble not dipping into my savings for gun stuff, etc. That in bullion form I am prohibited from spending my money on BS unless I make the effort to exchange it for cash first. It's kept me honest. That's why I don't have a supressor for my 6.8 SPC yet. Saving bottles and cans for that baby.

OSOK, don't do anything too drastic. The pricks in the financial system could keep this scheme going on for decades, but I'm betting it's less than a decade before the economic SHTF.

I'd say you're on the right track. One thing to keep in mind is that American Eagles do carry a premium. It's not a huge premium, but if you're talking about investing any amount at all, that premium will eat you up. I'm assuming you're thinking in terms of a SHTF case. The way I see it, a reputable round/bar (think APMEX) 1 oz silver will carry the same value as the silver eagle. If SHTF becomes a reality, no one will be paying that "collectible" premium on the eagles anymore. It will be based on strict silver content. Only difference is that you can buy more rounds/bars in the current environment.

Also, I would say you're better off with smaller gold. 1/10 - 1/20 .. even grams. Think everyday usage. Everyday groceries will not have a value of 1oz of gold, BUT if that's all you have and are hungry, it may cost you that. I don't see anyone in a survival era saying hey, let me bite that in half for you

just my 0.02 anyway.