Wednesday, June 22, 2011

Ben=everything is okay its still transitory. Schiff: silver to $200 after US defaults



Fresh from KWN:

Schiff says: "We’re going to have the same problems as Greece. The reason that Greece can’t pay its bills is that interest rates are rising and the Greeks don’t have the money. Well, the same thing is going to happen in America. When interest rates eventually rise, we can’t afford to pay because we’ve borrowed so much...And unless we can find new buyers of our debt, we’re going to have to default.”


When asked about gold and silver in that environment Schiff replied, “They’ll go straight up. That’s why you want to buy your gold and silver before that atmosphere.”


Regarding silver specifically Schiff had this to say, “I think anything in the low $30’s represents a pretty good entry point for people to buy...Once we go through $50...I see silver going to $200 an ounce. I own a lot of silver personally because of that outlook.”
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29 comments:

  1. Northern BorderJune 22, 2011 at 3:23 PM

    The real question is: when will the US be in default and when will the global financial markets start to rush for the doors? Or has it already begun and just starting to pick up steam?

    Anyone have a crystal ball or opinions work too?

    NB

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  2. dasProJune 22, 2011 at 3:23 PM

    I can just see Shalom's advisers, before the press conference saying to Ben, "For Chr*&t's sakes, DON'T SAY ANYTHING!!!!!!"

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  3. Save_America1stJune 22, 2011 at 3:30 PM

    SGS...

    any idear what in the wide wide world of sports is going on with Tinka right now? Dropping like a lead sinker.
    If it's not a big deal could you let me know, cuz then I'll buy a ton more and add to the pile.
    I just can't find any news on what could be causing it.
    thanks man!!!

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  4. brad pitts better looking brotherJune 22, 2011 at 3:30 PM

    what happened to tinka today?
    bad drilling results?

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  5. dasProJune 22, 2011 at 3:32 PM

    Tinka is sliding into the abyss, RIM is holding..

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  6. zepsterJune 22, 2011 at 3:37 PM

    Yeeshhh... we only got a $6 bump out of gold from Ben's speech... very dissapointing.

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  7. Save_America1stJune 22, 2011 at 3:42 PM

    I found this on stockhouse about why we are getting "Tinka'd" right now.

    http://www.stockhouse.com/Bullboards/SymbolThreadList.aspx?sv=2&s=TK&t=list&f=1&l=25&c=0&r=0

    I'll just wait it out...I'm good where I am...if SGS says get more at lower then I will. Otherwise I'll just keep what I have and wait for the long haul...hopefully we do see that 2 dollar shot before the end of the year!

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  8. Garry LindsayJune 22, 2011 at 3:44 PM

    As of right now, I have lost more money on Tinka and any other investment in my entire life. Lucky I only threw $6k at it at $0.6. Lets hope PSLV and PHYS make up for it in the coming months!

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  9. zimorodokJune 22, 2011 at 3:47 PM

    Simple with TInka, they released an amendment to the private placement. Now at $0.35, of course the stock drops when that happens.

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  10. Save_America1stJune 22, 2011 at 3:51 PM

    zimorodok...

    yeah, I was reading that, but as basic newbie I gave up trying to figure out what it meant, lol. I figured it weren't good if it was dropping like a lead weight tied to Bin Laden's nutz, but now I see it coming back up. I prob. shoulda bought a few more thousand shares when it hit .37, but no biggee. Like I said, I'm in it for the long haul, so I'm sure one 'o these days it'll make me a nice ch'chunk of ch'change.
    Then I'll use it to stack more phyzz (if it can be found by then! lol).

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  11. brad pitts better looking brotherJune 22, 2011 at 3:53 PM

    thanks save america1st.
    i hadn't seen that new release today anywhere else.

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  12. AnonymousJune 22, 2011 at 3:54 PM

    Only $200? It's not worth getting out of bed unless it's $500 when the US defaults.

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  13. Garry LindsayJune 22, 2011 at 4:03 PM

    SGS Liking the video/audio blogs
    I understand you better verbally!

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  14. silvergoldsilverJune 22, 2011 at 4:08 PM

    Re Tinka: They are drilling. ANd there is a new president in the is leftist and MIGHT not be miner friendly. Again, these juniors go up and down...if you cant keep the food down, dont play. If you play expect it to go to zero.
    Garry: I guess you didnt get the memo to buy it at .17 and .26? .60!? Thats no mans land if you are not a daytrader willing to get out 2-3 cents lower as a stop. Also remember the miners are being held down. And if the overall market gets crushed...so will tinka unless they release drill results that are chimu.

    If you are nervous sell. Days like these are great.

    Buy Red days, sell green days. One day this formula will hit you and it will be the greatest epiphany that has ever struck your brain.

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  15. MarkJune 22, 2011 at 4:35 PM

    SGS....I Fukn LOVE the audio man...please keep doing them. It nice to hear someone else besides myself express their frustration with the BS that is going on.....

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  16. LedbedderJune 22, 2011 at 4:42 PM

    @Mike: how's that corn working out for you after today?

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  17. Garry LindsayJune 22, 2011 at 5:01 PM

    SGS: I was not reading your blog then, so I was unfortunately a bit late to the party. Oooops! Its OK, I assumed it could go to nothing, hence the small investment! Lets hope it explodes in a good way!

    Its funny, the only 2 times a have had a chunk of change arrive in my lap due to hard work has been 1999 and 2011. If only it was 1996 and 2009!!!

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  18. News WireJune 22, 2011 at 5:36 PM

    The U.S. will NOT DEFAULT like Greece EVER. Why? Because we have a printing press. We will print, not default.

    ReplyDelete
  19. YousifJune 22, 2011 at 5:37 PM

    I got some more TK today :)

    If no one made any money in arbitrage today, I don't know what to tell you really.

    @SGS For your screen capture, you may wish to look into CamStudio, heard some good reviews from a few friends:

    http://camstudio.org/

    ReplyDelete
  20. Fast MoverJune 22, 2011 at 5:42 PM

    SGS:

    I have to reiterate my earlier comment, audio is an A+! Don't know if you are thinking this, but a daily video such as this or even a live broadcast for subscribers would be worth $100/mo at least. A real niche that could be exploited right now.

    Appreciate the outside the US view, something about americans and forest & trees down here...we're fucked.

    How about a plan of attack that we can start taking positions on for a 2008 repeat?

    thx

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  21. SushiSiouxJune 22, 2011 at 5:44 PM

    Hinterland Metals- lovely rare earth company
    http://tmx.quotemedia.com/quote.php?qm_symbol=hmi

    Stakeholder Gold - lovely lovely Yukon!
    http://tmx.quotemedia.com/quote.php?qm_symbol=SRC&locale=EN
    ---------------------------
    SGS- TFV has posted a few decent items why Peru's """leftist""" isn't going to be too keen on nationalizing. Hummer is looking pretty presidential realist guy now.

    http://thefundamentalview.blogspot.com/2011/06/humala-closer-to-acceptable-terms-with.html

    sell and buy to the sleeping level.

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  22. Fast MoverJune 22, 2011 at 5:48 PM

    Camtasia is great for this kind of production.

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  23. MikeSJune 22, 2011 at 6:25 PM

    Ledbedder, I dream of days like this but you wouldnt understand. If you knew why the grains got hit you'd be buying with me not looking like King Retail. As I said, I'm long and longer after today and will continue to buy weakness. You need to focus on the fundamentals not the current price action.

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  24. SRSroccoJune 22, 2011 at 7:12 PM

    In the last post someone spoke about trading part of their investments in gold and silver certificates. I would strongly advise against it.

    If you have read any articles over the past few years you would realize the banks don't have the metal to back them up.
    Matter of fact, gold and silver certificates are backed by the assets of the bank. Good grief. Better off owning physical.

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  25. AnonymousJune 22, 2011 at 7:30 PM

    $100 a month for these videos? Haha I'll have what he's smoking.

    (No disrespect to SGS, love the site but c'mon)

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  26. silvergoldsilverJune 22, 2011 at 7:56 PM

    Diabolitio: WTF are you talking about? $100 for what?

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  27. LedbedderJune 22, 2011 at 9:03 PM

    Fair enough, Mike. I told you I for the most part agreed with your Dec. long, but not Sept. If you went in with options, they are going to decay fast. If you're in futures, then you must have some deep pockets. My technical analysis shows me all the fundamentals I need. Again, I ask you, go look what happened to corn when it got this high (well, it was a slightly lower high). Long run I AM BULLISH, short term, I'll let my puts keep racking up the $$$

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  28. DennisJune 22, 2011 at 11:21 PM

    Ha ha!!! Thought I was the only one talking at these idiots as they spew their crap. The sad thing is there is a huge % of people that believe this drivel. Even more, the large number that don't care. Then there are the terminally stupid. That leaves an amazingly small % that get it, and scream at these criminals.
    The majority of those I work with are "in for the long haul", they are almost back to even. Even after simplified explanation of what is happening, there is blank stare. That long haul might not be realized in their lifetimes, I think most assuredly not!

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  29. AnonymousJune 23, 2011 at 1:52 PM

    It can't happen soon enough. I want the hell out of my job and one of the largest cities in the country. I have had F* enough of this crap. I simply want to get out, do what I want, and simply be myself. I'm tired of working for somebody else.

    SE

    ReplyDelete

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