Tee Hee

wotsthat

I'm not afraid to admit that I take some pleasure in the further falls of PM's (particularly silver). It's not the investors that I'm happy to see get burnt (they won't be that pleased but will understand that that's how it goes) but the silverbugs. Earlier this year there were multiple threads about silver and nutjobs unconcerned that they were buying silver on ebay for in excess of £5/oz over it's market value. They did this because a) there was going to be a silver shortage b) it was going to rise so much that a few £ here or there made no difference c) silver ETF's are a big conspiracy. I'm glad those people have been burnt, partly for my own pleasure but also because it might teach them to be a little more sensible in the future although I suspect that silver nutjobs have other interesting world views which will prevent this.

However, when these threads were at their height I did have a crafty punt on a silver ETF (January) and sold in April. On a YTD basis silver has seen the biggest return.

I'm interested in GD's comments about no-one losing money as they are just converting to cash. Try telling that to whoever I sold my ETF's to at c£25/ share now that they are worth £18.

Graham_Devon

Flight2quality wrote: »

That is the house price rampers all over. They will not stop ramping house prices even as they continue to fall.

It's rampers per se, any commodity.

neverdespairgirl

Really2 wrote: »

Either you are blind or hate the idea that so many of us said they were talking rollox and were right, silver is not a store of wealth, hedge against inflation etc, etc.

I've always said I value my store of precious metals immensely - a silver bracelet my Nanna gave me, a fine gold chain from my Granny, etc. I don't care if the price per gram has dropped (and I didn't care when it rose, either!)

wotsthat

The supply of silver is going to increase.

http://www.bbc.co.uk/news/uk-15061868

Warning: Silverbugs please ensure you have tissues at the ready

OptionARMAGEDDON

eww, I dont want to think what silver bugs do in a locked room with a tissue, over pictures of silver

pwllbwdr

" Work would begin in the second quarter of 2012, Odyssey said."

Hmm, not sure they should wait that long - might not be worth bringing up the silver by the if it carries on dropping in price!

Graham_Devon

HAMISH_MCTAVISH wrote: »

So back when I noted all the silverbugs will get wiped out, for all the very same reasons they think they won't......

This is a perfect example of why.:rotfl:

Seems they made a nice profit.

Up 19% according to the beeb at $33.50.

wotsthat

Graham_Devon wrote: »

Seems they made a nice profit.

Up 19% according to the beeb at $33.50.

Yet the last six US silver eagles sold on ebay averaged £33.81 (yes sterling) plus £2.50 in postage.

i.e. more than 60% over the market value. Those silverbugs really are drawn to shiny things.

The participants in the silver market are even more irrational than those in the stock markets.

Graham_Devon

wotsthat wrote: »

Yet the last six US silver eagles sold on ebay averaged £33.81 (yes sterling) plus £2.50 in postage.

i.e. more than 60% over the market value. Those silverbugs really are drawn to shiny things.

The participants in the silver market are even more irrational than those in the stock markets.

We weren't really discussing the last 6 items on ebay though were we.

Nice touch and understand why you have chosen that route, but if that's the new way of proving an argument right, then god knows how many discussions on topics would be completely trashed by throwing in obscure references to commodity prices.

wotsthat

Graham_Devon wrote: »

We weren't really discussing the last 6 items on ebay though were we.

Nice touch and understand why you have chosen that route, but if that's the new way of proving an argument right, then god knows how many discussions on topics would be completely trashed by throwing in obscure references to commodity prices.

I thought the discussion was about silver. I've shown what 1oz silver eagles are selling for on ebay as part of this discussion. Doesn't seem that obscure to me.