Author Topic: A new look at silver  (Read 1542 times)

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biggfredd

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A new look at silver
« on: June 11, 2011, 10:05:19 PM »
When I posted this on CCF, I never thought it would have almost 500 hits in two days!



Some interesting points I never heard before:

*90% of the silver dug before 1990 is now in landfills.

*Silver is running out, because it's mostly found near the surface. The deeper they dig, the more gold they find.

*There is five times as much gold above ground as there is silver.

*Almost anything gold is used for, something else will suit as a substitute.

*They're finding new uses for silver constantly, most of which won't recycle. For example, silver thread in fabric wicks perspiration away from the skin.

*In most uses, silver is a "must have", there is no substitute.

*Industrial quantites of silver will not be available after 2020.

*For these and other reasons, silver could readily reach $5,000 an ounce in ten years.


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planetsuze

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Re: A new look at silver
« Reply #1 on: June 12, 2011, 08:55:21 AM »
Interesting - so we should be buying up silver? Any particular form? Or any will do? I'm thinking coins, Sterling jewelry and the like.

biggfredd

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Re: A new look at silver
« Reply #2 on: June 12, 2011, 11:43:59 AM »
90% coins, gubmint issued ounces and known sterling are all good choices.  Buying an ounce or two as you can afford it adds up.  Today, 100 ounces will cost around $4000.  If it becomes a $1000 an ounce necessity in ten years, you have $100,000.
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springintoscooters

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Re: A new look at silver
« Reply #3 on: June 12, 2011, 12:43:16 PM »
*90% of the silver dug before 1990 is now in landfills.

Interesting. If that's true, why isn't there an effort to reclaim it? At today's prices it should be cost efficient.
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planetsuze

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Re: A new look at silver
« Reply #4 on: June 12, 2011, 01:08:50 PM »
I am reading the comments with that video and found this:
Quote
If you do buy more more silver (or´╗┐ gold) I encourage you do it before the new 1099 over $600 reporting law goes into effect 1/1/2011. Call me suspicious but i believe law is only to have record of who holds silver and gold.
Do you know what that is about? If you buy more than $600 at a time? Or in a year? I am so tax stupid.  This poster may be a little paranoid (or maybe not, LOL). But I do try to keep out of tax trouble.

WayOutWest

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Re: A new look at silver
« Reply #5 on: June 12, 2011, 01:28:00 PM »
That's referring to the bit that was stuck in the Obamacare bill that said that whenever you spend $600 or more in a single tax year, and want to claim it as a tax deduction (I.e. purchase of postage for shipping), you have to 1099 the seller.  That has been repealed.

planetsuze

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Re: A new look at silver
« Reply #6 on: June 12, 2011, 02:18:25 PM »
Ah, OK. Got it, thanks!  :h0035 That post was months old, obviously before the repealing.

I have been poking around silver sites, boy there are a lot. The only govt one I found right away doesn't sell by the ounce, it's selling some 5 ounce coin for $279 whch is probably not what I am looking for. Any recommendations? Or stuff to read before trying to buy?

biggfredd

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Re: A new look at silver
« Reply #7 on: June 12, 2011, 02:37:14 PM »
*90% of the silver dug before 1990 is now in landfills.

Interesting. If that's true, why isn't there an effort to reclaim it? At today's prices it should be cost efficient.

I suspect much high prices will be necessary.  We're talking about things like an ounce of silver in a windshield, or a few silver threads in a shirt.  And every type of item would require different processing.
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