■ Silver Hits Highest Price Since March 7, 1980

smeagold

bendix wrote: »

I don't think he's a child. Just child-like. I do agree with the childish obsession with weird theories which - of course - leads one naturally to a passion for metals and spending all your time scouring Youtube and websites for arguments supporting your position.

But, like you, I suspect he or she has next to nothing invested. He referred to a holding 'coins'.

When people are obsessed with the value of a single asset class (metals in the case of smea and Ash, or property in the case of Sibley and Hamish), it's usually a good indicator of two things:

1) They don't have too much wriggle room and any fall in value could be terrifying to their lifestyle or sense of wealth, and

2) They're terribly self-conscious that they are in one asset class, know it's a bad strategy yet maintain a beligerent faux confidence that they know it all, and everyone else is a mug.

its real easy to compartmentalise people in this way, and no doubt comforting, however no 2 individuals are the same and all have diff ideas and motives. last month silver fell 14% did I suddenly, in a terrified way, go and sell it all? No, did it affect my lifestyle or sense of wealth? No. I might not know it all but when it comes to gold and silver I know an awful lot more than you do, i wouldn't say you was a mug, just missing a good opportumity to profit which those of us that did the research a few years ago didn't miss.

Asheron

Cleaver thanks, you always make me laugh. I haven't been wrong about silver or gold or Oil so my credibility is at an all time High so I'm very happy. Yes of course I gather my info from a select few people. And thanks to them the last 2 years of my life has been very prosperous.

Prepare for $200 oil Book that flight now

bendix

smeagold wrote: »

its real easy to compartmentalise people in this way, and no doubt comforting, however no 2 individuals are the same and all have diff ideas and motives. last month silver fell 14% did I suddenly, in a terrified way, go and sell it all? No, did it affect my lifestyle or sense of wealth? No. I might not know it all but when it comes to gold and silver I know an awful lot more than you do, i wouldn't say you was a mug, just missing a good opportumity to profit which those of us that did the research a few years ago didn't miss.

Congratulations again. You know an awful lot more than me about a subject I'm not interested in.

Well done.

Meanwhile, my networth continues to grow healthily every month so that I'm in a position to retire now if I want, and certainly within two years.

I suspect I'm not that much older than you either.

Good luck with your first house purchase.

Cleaver

smeagold wrote: »

I have to consider the fact I might just have been just plain lucky.

I'm glad you realise that. I read on another board on here that you've been trading since around 2009 in a single asset which has risen in price since that point.

In essence you remind me very much as someone who put all their money in a BTL property in 2004, and then in mid-2006 says, "I've made 30% over 18 months." But 18 months profit when you own one asset and the market for that asset is rising isn't really proof that you can make a living is it?

But at least you're aware of this fact. From what I read on a thread on the savings board here you're getting a lot of stick and rather than argue back you've giving some very balanced and measured responses. Sorry, that sounds patronising, but was meant to be nice.

purch

You sound envious you wish you had bought in earlier?

I wonder how many times that, or something similar has been said on your "Silver Investment" thread.

Proof, if any is needed that the idiots who say it have the mental age and maturity of a 13 year old !!!

Graham_Devon

What's happening to gold? Hamish stopped providing us with updates!

Nikel

Graham_Devon wrote: »

What's happening to gold? Hamish stopped providing us with updates!

Its glittering.

crazygaijin

Graham_Devon wrote: »

What's happening to gold? Hamish stopped providing us with updates!

He has been saying it was going crash 100% guaranteed since it was around $600 oz.

Today its over $1400 and going up almost as fast as silver. Well ok not quite that fast.

crazygaijin

lvader wrote: »

In 2009 demand from industrial and photography has dropped to 435 million oz, with production from mining up to 709 million oz.

These are the facts.

Look at this chart 9mins in. This shows how much mined supply had to increase to meet demand. Do you think this rate of increase can continue in mining silver? Because demand looks to be increasing at this rate.

http://www.youtube.com/watch?v=0aS20V0Hjwg

He says here factually speaking you can see this big boom in silver mining since about 2000. Compounding the rate of silver production by about 2.5-3% per year over the last decade, and that helped to make up some of the shortfall between supply and demand.


So he makes a conservative assumption. Lets assume we continue a 2-3% per year compounding of mined silver. (This is not likely when you think about it) but lets assume they can increase mining continually by that much.

Supply vs mining growth

Assume 2-3% per year(?) = extra mining 20m oz per year after year.
By 2020 total supply increase would be 150m ounces.

(800m oz vs 650m currently)

But the industrial demand alone is to increase by 230m oz.

Bottom line is an extra 230m oz needed annually by 2020
Assume mining can increase production by 150m or even lets say 200m oz per year. Something has got to give. Because all the stockpiles of silver have already been depleted.

This is not even taking into account investment demand which is only just beginning to take off.