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.”

29 comments:

  1. 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. 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. 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. what happened to tinka today?
    bad drilling results?

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

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

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

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

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

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

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

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  19. 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/

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  20. 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. 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. Camtasia is great for this kind of production.

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

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  27. 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. 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. 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

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