Hi Ho "SILVER"

[skid]

I did say that. I said it in the sense skid was saying, that all mainstream banks were going to fail. If you think this is going to happen, we're all screwed and you'll have more to worry about than paying off your mortgage. As skol says, you would want more than govt bonds....try a shotgun, a horse and some land.

I think its possible for this scenario [depression]to play out in a way that lots of people lose their money but the banks become nationalized and still survive[you may get a few cents on the dollar]
It doesnt necessarily have to go the way of the shotgun-it may ,in many cases bring people together--but if it happens one thing for sure -it will take the shine off our comfortable lifestyle-resetting the whole machine will involve some pain-Things like that pension will surely be out the window--people will have to start taking responsibility for themselves much more than now--its possible to prepare for it in the hopes of a softer landing[for yourself]without totally dropping out of society.

[Skol]

Ain't gonna happen.

[JBmurc]

"Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China's imports of the metal are already large, and you can guess what additional purchases are going to do to prices. On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran's revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28."

[Skol]

"Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China's imports of the metal are already large, and you can guess what additional purchases are going to do to prices. On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran's revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28."

You're flogging a dead horse JB. Gold hasn't done anything despite the news that the Chinese might pay for their oil in gold and it's rumour only.

XGD, HUI all plumbing new lows, can't possibly see how gold or silver can maintain their current prices.

Jon Nadler might be proved right.

How galling would that be? LOL

[JBmurc]

http://www.silverinstitute.org/site/supply-demand/

2011 supply demand numbers......



Production from primary silver mines fell modestly due to lower processed grades......

[Skol]

You believe the silver institute?

Bet you believe in fairies too.

http://www.scotiamocatta.com/scpt/sc...recast2012.pdf

Not the silver institute, World gold council, Jim Rickards, Alf Fields, Minweb or king world news.

[Skol]

Silver keeps bouncing off $30, once it goes below that who knows what's gonna happen, Nadler says $20.

Jon Nadler also says:

"However the substantially large short position of nearly 1600 tonnes continues to reflect a similar lack of confidence in the white metal's ability to stage a serious recovery and is, in the words of analysts at Standard Banks (SA) 'a cause for concern'."

1600 tonnes, I thought we were running out JB?

[JBmurc]

Silver keeps bouncing off $30, once it goes below that who knows what's gonna happen, Nadler says $20.

Jon Nadler also says:

"However the substantially large short position of nearly 1600 tonnes continues to reflect a similar lack of confidence in the white metal's ability to stage a serious recovery and is, in the words of analysts at Standard Banks (SA) 'a cause for concern'."

1600 tonnes, I thought we were running out JB?

1600 tonnes of paper silver not real bullion

[Skol]

Here it comes JB.

Next stop probably around $26.

[Skol]

For silver to get to $50 by years end it will have to increase by 72% JB.

It's never done that since 1979, and we all know what happened then.

You may as well send the $100 now.