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.
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.