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07-25-2008, 05:37 PM #1
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Panic Building on Wall Street
Panic Building on Wall Street
Stock-Markets / Credit Crisis 2008
Jul 24, 2008 - 07:28 AM
By: Adrian_Ash
Before getting into this missive, I would like to state that other silver commentators make a very strong case for silver being a metal that does well in good, prosperous times. I absolutely agree. If the world at large were gaining in real wealth and the economy were humming along, we all might be purchasing flat screen TV's and using even more silver than we do today. Bottom line, silver does not need bad times to do well.
However, I am experienced enough to know two people can look at exactly the same thing and see it differently. This is what makes the world go round—an exchange of ideas. In fact, I am on record as stating there is nothing more important in a true free market than the free exchange of ideas.
My worldview is that silver plays a role in the best of times and in the worst of times. Right now there is a huge shift of wealth; wealth is being created in the East and wealth is being diminished in the West. It is and has been my very studied opinion that wealth cannot be printed, and therefore the role of gold and silver at this point in time comes mainly as a means to protect or build wealth.
Fannie Mae (FNM) and Freddie Mac (FNM) were on the verge of collapse, only to be saved by the full faith and credit of the United States. But in reality the Fed did not save them, YOU did. If you are a U.S. citizen, the bailout has your name on it and you don't even know it, do you?
When a financial institution, bank, broker, hedge fund (Long Term Capital Management) gets bailed out, it is the taxpayer that ultimately pays for it. The Fed “loansâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-25-2008, 06:39 PM #2
I agree with your treatise on the value of ownership of valuable commodities, but you missed one, oil.
I have seen silver hit 2.65 an oz, and didn't have the resources to buy back into the market. When I had the resources, (when the market for all was high), I bought oil which was low, and speculation had stopped, and am now seeing the uncapping of "dead" wells that are now pushing the price down, but my income up. I never see the downturn of oil like the real estate market, but it may recede for awhile then flatten out.
Laura Loomer - Woke up this morning to a @nytimes article...
03-27-2024, 11:36 PM in General Discussion