Companies are trying to buy physical Silver BACK from you OVER Spot!

[sassy688]

Hold your silver and don't panic! I've purchased silver at spot prices of 17, 19, 21, 24, 28 and 34 (plus dealer premium, et al). I almost bought more last week...glad I didn't because when this correction is over, I'm going to make another purchase of more silver than last week. Wohoo! I've watched this market for 2 years now and it isn't for weenies.

That said, the fundamentals haven't changed. The US Dollar is in collapse and isn't a safe investment tool, because that is exactly what you use the good ol' greenback for - a store of your hard earned labor using a common standard. As this ship goes down, you will see people seeking desparately to try to stop the devaluation of their paper money and flood into the precious metals markets. At the high, sell and buy land, pay off all your debt or purchase something else that is tangible. The whole monetary system is a ponzi scheme. Here's a free download to read in your free time that explains that the only things of real value are physical goods (old book but an excellent explanation of Austrian Economics):

http://www.biorationalinstitute.com/zcontent/alpha_strategy.pdf

Congratulations on having made the decision to protect yourself from a government gone insane! Keep buying on the dips. If you can't stomach the volatility of silver, buy gold. Here's a video to watch explaining this latest phase of the market manipulation that is occuring by the paper shorts/JP Morgan:

WARNING! This video has objectionable language!

[ame]http://www.youtube.com/watch?v=u9LcKcXpCDE[/ame]

Here's an interview from Keith McCullough, CEO of Hedgeye Risk Management explaining about the eminent dollar collapse:

Revolutionary Politics::Revolutionary Politics : Dollar Crashing Now - CNBC 5/3/11


The manipulation is to shake out the paper traders looking for a quick buck on the bull, allow JP Morgan to purchase more physical silver because they are hugely naked short (they've sold paper silver without the silver to back it up), and scare away the new investors to part with their precious shiny stuff because the COMEX does not have much silver left! If you sell your silver, you will end up regretting it. Besides, who wants to give JP Morgan any more of an advantage, they've already stiffed the taxpayers enough.

"May the road you choose be the right road" Bix Weir.

 

[IndySSD]

Hah, this video sums up quite nicely what banks think about physical commodities. (yes I know it's a spoof type).

[ame]http://www.youtube.com/watch?v=wacq8CrFKNY&feature=related[/ame]


Anyone not currently buying physical goods as they are able (long term food/water/ammunition/tools/precious metals/etc...) may find themselves in rough shape as the dollar continues to buy less and less.

Think about what percentage of your net pay gets spent on fuel.

90+ % of my driving is commuting back and forth to work. My fuel expense for the last two weeks was a sickening 10% of my NET PAY and I only have a 40 mile round trip commute. As jobs get more scarce these percentages are going to get larger and larger leaving less and less of your monthly budget for other necessities which are also increasing (Food costs almost always follow or exceed the increases in fuel costs).


Have a plan!

Here's a good place to start!

You'll notice step #6!!

Get "Real Money"! Silver is currently a great way to incrementally increase your wealth!

 

[dead2rights]

I don't know what the average house hold income is on this site, but I'll go out on a limb to say not many here can afford to buy enough silver or gold to keep a sustained amount to live out the rest of there days. To quote one of my favorite authors Burton G Malkeil. "precious metals are a hedge against armageddon." Even if you're sure as Santa the sky will fall, keeping large sums of "precious metals" won't help you at all. For everyone that knows the sky is going to fall and have over $100,000 in precious metals in their houses, just remember that in a time of total chaos the values of those funds change dramatically. If you have no way of getting food for your family and I have a bag of beans you want to buy, I can tell you I'm not selling them for $2 dollars a bag for sure. Long story short in a total chaos scenario silver and gold is almost as worthless as our current fiat monies.

 

[longbow]

ebay has some very high priced deals...but no bidders.

[ame=http://cgi.ebay.com/Pallets-Monster-Boxes-25000oz-Silver-Eagles-Mint-Sealed-/370507414529?pt=LH_DefaultDomain_0&hash=item5643f67c01]Pallets Monster Boxes 25000oz Silver Eagles Mint Sealed | eBay[/ame]

The above is worth about $900,000 right now.......not $1,450,000

 

[WWIIIDefender]

ebay has some very high priced deals...but no bidders.

Pallets Monster Boxes 25000oz Silver Eagles Mint Sealed | eBay

The above is worth about $900,000 right now.......not $1,450,000

Ya I noticed how high they were too and especially at that kind of builk. That with the fact that some places are buying back above spot is a good sign to me.

 

[rhino]

Feeling better today. Feeling better . . .

 

[Brandon]

Bought some more today. Supported some fellow Ingo'ers (having a brain fart on the shop's name. It's up on North Franklin Rd. in Lawrence)

went to a pawn shop and saw a silver round there.. asked how much they wanted. Guy said they would take 45. I laughed and said I am sure they would. He came back and said how bout 25? Couldn't say no to that.

 

[IndySSD]

I don't know what the average house hold income is on this site, but I'll go out on a limb to say not many here can afford to buy enough silver or gold to keep a sustained amount to live out the rest of there days. To quote one of my favorite authors Burton G Malkeil. "precious metals are a hedge against armageddon." Even if you're sure as Santa the sky will fall, keeping large sums of "precious metals" won't help you at all. For everyone that knows the sky is going to fall and have over $100,000 in precious metals in their houses, just remember that in a time of total chaos the values of those funds change dramatically. If you have no way of getting food for your family and I have a bag of beans you want to buy, I can tell you I'm not selling them for $2 dollars a bag for sure. Long story short in a total chaos scenario silver and gold is almost as worthless as our current fiat monies.

While I agree that "Large Sums of Precious Metals" won't help you in a cataclysmic event, should something happen locally and you need to buy your way across country or into another country, nothing says "Welcome to our country" like a stack of silver or gold....

If you couldn't get to an ATM or bank branch, do you have enough cash/goods to barter safe passage to somewhere safe?


As far as SHTF goes, I don't look at silver as an "OMG if TEOTWAWKI happens, I'll be OK because I have silver"..... I look at silver as "If I ever have to leave this country or if the dollar ever crashes so hard that society begins to implode and we need to GTFO, I won't be completely devoid of money (and other supplies) to secure my families future".

Also, I look at it as an investment, so if nothing bad ever happens, I feel like silver is a good investment. Better than dropping my hard earned cash into the stock market anyway.

Bought some more today. Supported some fellow Ingo'ers (having a brain fart on the shop's name. It's up on North Franklin Rd. in Lawrence)

went to a pawn shop and saw a silver round there.. asked how much they wanted. Guy said they would take 45. I laughed and said I am sure they would. He came back and said how bout 25? Couldn't say no to that.

Nice find! 25$ an oz is indeed a great price!

 

[rhino]

went to a pawn shop and saw a silver round there.. asked how much they wanted. Guy said they would take 45. I laughed and said I am sure they would. He came back and said how bout 25? Couldn't say no to that.

$25! SCORE!

Spot was back up to about $38 toward close of business today.

I suspect that unless you're a "big dog," finding a significant amount of bullion to purchase at the end of last week would have been trouble since few wanted to sell below the price they paid. So the low prices really didn't have much affect on most of us.

 

[WWIIIDefender]

[ame]http://www.youtube.com/watch?v=-IiarVvZguY&feature=pyv&ad=8237580340&kw=silver[/ame]

 

[Magyars]

WWIIIDefender...thanks for the videas.
Anyone know where to buy Silver in East Central Indiana?

 

[Hemingway]

Isn't Silvertowne over near your way? They are somewhere in E. Indiana. I would hope they have some.

Unfortunately you pay sales tax in this state

 

[WWIIIDefender]

WWIIIDefender...thanks for the videas.
Anyone know where to buy Silver in East Central Indiana?

Just google silver coins indianapolis. Make sure you call first. I called like 10 places thursday morning and only 3 places had any silver and the cheapest was 40 when spot was 33. I think right now until the price goes back up 5-7 dollar premium is about what your going to shell out at a local shop. If you find a better place let me know and I will do the same.

 

[Hemingway]

Just google silver coins indianapolis. Make sure you call first. I called like 10 places thursday morning and only 3 places had any silver and the cheapest was 40 when spot was 33. I think right now until the price goes back up 5-7 dollar premium is about what your going to shell out at a local shop. If you find a better place let me know and I will do the same.

The real question is does anyone know of a shop that sells silver just over the line in IL? Where there's no tax. If you're buying large amounts, it would be worth the drive.

Buying silver at $40 for example, means your sales tax alone is a $2.80 premium. On top of the regular premium. Just makes it too much for me to buy silver in IN.

Someone need to REALLY repeal that law.

 

[GREEN607]

The real question is does anyone know of a shop that sells silver just over the line in IL? Where there's no tax. If you're buying large amounts, it would be worth the drive.

Buying silver at $40 for example, means your sales tax alone is a $2.80 premium. On top of the regular premium. Just makes it too much for me to buy silver in IN.

Someone need to REALLY repeal that law.

I understand your thinking, about the sales tax in addition to the 'premium'..... and on the surface, it seems to make sense.

However, remember the poster who just said that 10% of his net income, was fuel costs.... to get to his job!? Now, what sense does it make to drive from, say Central Indiana, to Illinois to save $28 on 10oz of silver.... when gas prices are at $4.10/gal??? Kinda just comes out cheaper to pay the sales tax in IN. Time is money.....

Am I wrong?

 

[WWIIIDefender]

some places don't charge sales tax. The place in castleton mall doesn't. They used to sell just a dollar over spot but those days are gone...lol just look around you might get lucky.