$10.25 per ounce. Down $0.71 today.Dawn wrote:What's silver going for now? I'll have to look it up.
$10.25 per ounce. Down $0.71 today.Dawn wrote:What's silver going for now? I'll have to look it up.
Heineken wrote:I'll be damned if I'm going to spend $16 for a $10 lump of metal.
Dawn wrote:It's not a bad idea as long as you pay the credit bill in full when you get it... That's what I always do, so I never pay interest. All for me and none for them.
Dawn wrote:eastbay, even better... Know which day they bill you and buy the day after that... Then you'll have a whole month plus about 2 extra weeks before your payment is due. It only works if you maintain a zero balance tough. Man I just realized how cheap I can be sometimes.
For example one of my cards sends out, or determines my balance on the 17th of every month... So, if I (carrying no balance) purchase something on the 18th of the month... They won't bill me until the next month and I'll have about 2 more weeks before the payment is due after that. Just pay the whole bill then and do it every time.
Jotapay wrote:In case you completely haven't noticed what's going on these days, the whole financial mess was caused by speculation using over-leveraged credit.
smallpoxgirl wrote:Just dropped down to $10.06. I bet it'll be in the 9s by tommorrow.
lowem wrote:Silver at $9.66, gold fell off a cliff to below $800,
and crude oil fell below $72.
cranky wrote:In my mind, you will have the silver in your hot little hand when all the credit card companies go broke because of all the defaults. I was thinking of running up my credit with all of my survival supplies because at least I'll have the supplies.
strider3700 wrote:cranky wrote:In my mind, you will have the silver in your hot little hand when all the credit card companies go broke because of all the defaults. I was thinking of running up my credit with all of my survival supplies because at least I'll have the supplies.
You haven't been paying attention to how things have been working lately. These days when giant corporations get in trouble they ask the government to bail them out. If the problem they run into is that the customers start mass defaulting they will simply ask the government to change the laws to prevent the customers from getting to not pay. They already changed the bankruptcy laws so how much more work is it to force you to pay your debt?
Hell at this point the general public with their devastated 401k's would love to hang the subprime holders that are being blamed for these issues. It's only a matter of time before the companies won't be at fault but the idiots that overextended themselves will be.
strider3700 wrote:The Fan and the slide thread goes into a lot more detail about this and is worth the read.
strider3700 wrote:The fan and the slide thread
http://www.peakoil.com/fortopic5127.html
Basically it's a bunch of peoples expectations about timelines and the differences between them.
also I highly recommend the 5 rules thread
http://www.peakoil.com/fortopic29910.html
It has a bunch of different views on what are the most important things to do to prepare.
As for picking between debtor's camp and radiation sickness I don't see the two as mutually exclusive.
If you buy a radiation kit(I'd love to have one as well btw) and can't pay for it then possibly eventually they will take it away when they ship you off to the camps. Then when the nukes hit you die as a slave.
If you don't buy it and don't get shipped off due to your debt then you still die just not as a slave.
If you buy it and pay it off then maybe you actually get to use it.
Timelines are hard to predict. The way things have been going I'm accelerating my plan and taking on a larger mortgage to be elsewhere since I no longer think we have a decade or so like I did when I first joined. I also don't think we'll be having firefights in the front yard before christmas.
In 10 years of reading and writing and searching, I've never known the numbers of paper silver in the OTC "Over the Counter" market until a reader informed me, just today.
This is directly from the BIS, the Bank of International Settlements. This is good data. http://www.bis.org/statistics/derstats.htm
At the link above, see 21 Amounts outstanding of OTC single-currency interest rate derivatives
"21C By instrument, maturity and counterparty"
That's this link: http://www.bis.org/statistics/otcder/dt21c22a.pdf
See the center middle column towards the bottom, under "Other Precious Metals", which excludes Gold. This would be Silver, Platinum, and Palladium. We can exclude Platinum and Palladium as nearly irrelevant, because those markets are much smaller than silver, and very few people hold paper instruments of that type. Furthermore palladium is much like silver in that the market is dominated by industrial demand, and investor demand is less than 5% of the market.
The number of "Single currency interest rate derivatives in other precious metals (SILVER)" from June 2006 to June 2008, in two short years, more than doubled: From $84 billion to $190 billion! That's about 40 times larger of a fraud than I had thought. This is serious news. This is original reporting. Will any other news agency cover it? Probably not.
How much new paper silver is that? Well, the physical silver investor market annual demand is about $1.3 -$2 billion per year! And yet, they sold $100 billion in new paper silver in the span of 2 years, which is over 50 times as much paper silver as exists in the world annual physical silver investment market!
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