Silver Prices rise on news of debts / default (1 Viewer)

[Rx_]

Watched it rise 4% today. That is basically "blood in the streets".

My investment advisory news letters had me buy silver and gold mining stocks mid 2010.

I put about 15% into Majestic Silver, a Mexico stock listed in Canada.
Have bought and sold gold stock, after making about 15% on the ups and downs. Sold all gold and put it into silver stocks (e.g. svm, slw..) a couple of months ago during the down side.
Overall, up about 30% yesterday from July.
Now, silver hits 4% in one day.

I am not happy that my money can't be invested in a up and coming business or other enterprise.

But, with the massive debt and non-stop (electronic) printing of paper money, there doesn't seem to be much other choice.

When I was in high-school, during Nixon, the dollar fell with a 4 to 1 ratio. I worked hard for 5 summers, putting all my silver dollars in a bank for college. By college time, the silver dollars turned into paper dollars 1/4 the value (because everthing including food, gas, and college tuition went up!)
My dad's friend had taken his money out of a bank and bought gold/silver stocks. The value rose to where his dividends were equal to his orginal investment.

All in all, it is a sad commentary when we have a Treasury that makes speculation the safe bet.
The paid investment letters that have the best track record predict silver will probably triple by next year.
For you young ones who have never seen anything like this, it seems impossible. But, for those of us who have lived this, I predict that you will be paying $12.00 for a cup of Starbucks and not think a thing about it in the next dozen or two dozen months.

 

[Demetious]

But, for those of us who have lived this, I predict that you will be paying $12.00 for a cup of Starbucks and not think a thing about it in the next dozen or two dozen months.

That is where you are wrong sir, I don't pay the ridiculous $5.00 they ask now, I make my own for pennies on the cup =). It is nice to see an person who has gone through times similar to make comparisons like this, it helps is younger generations learn. My father was born in 1934 and I learned more from his memories than most my age understand. It is sad in many ways how much people in America take for granted what they have as well but that is another story...