Favorite Quotes

CURRENT FAVORITE QUOTES

"The most fundamental form of human stupidity is forgetting what we were trying to do in the first place"

"Party like its 1929"

Thursday, September 15, 2011

Buy Opportunity, or Time to Wait?

      The recurrent near-death of the Euro has driven the zombie-dollar upward (in relative terms only, it is still nearly worthless) and thus psuhed down the price of PMs in dollar terms. See below;

Live 24 hours silver chart [ Kitco Inc. ]

    The question buring in my mind is this; do I buy more now on credit, and pay of when the cash becomes available in October, or wait until October in the hope that the collapse of the Euro is slow enough to keep prices down until then?  Is it wrong for me to feel happy at getting a better fiat price when it means misery for millions of Europeans? I may be profiting, but it isn't as if I have anything to do with the fiscal insanity on the Old Continent, so why do I feel rotten every time I think "I can score big on this".

    For those with cash in hand you may want to grab some now. I feel that when the Euro finally dies (and it most certainly will) there will be a short-lived King-Dollar. Short-lived because the contagion is in our banks too, and Uncle Sugar won't get away with another trillion-plus bailout this time.

    Interesting times indeed.

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