I wouldn’t be so sure however I don’t think it should be chased at this point, I’d wait for a dip. That would be the rational thing to do but with the markets as they currently are, rationality is out the window.
Took profits in some of my silver last week and regret it. Im going back in for more. I know it will probably get hammered as soon as I buy, but… I just like it too much. Hope I haven’t fallen in love with it. That will make selling at the right time difficult, but for the next couple of years or until some crazy stuff happens I’m long silver and sleeping soundly because of it. i still think its a great all round play. When you look at the gold ratio, the massive short positions by JPMorgan, the properties of the metal itself - its properties alone make it a pretty special material, and one which, mined often as a low cost byproduct is running out due to our consumption of it in consumer, medical and electrical goods. This metal has great thermodynamic electrodynamic properties and is super reflective, so its gonna be used in all of our stuff in the new electric-post-fossil-fuel-world(if you believe that that is the future).
If you believe in a deflationary outcome to all of this stuff thats going on… then silver might lose value BUT you will still own it. In an extreme deflationary collapse bank deposits might be lost, so why not own silver as a hedge against this.
In an inflationary or hyperinflationary environment silver will rise in price and at least hold purchasing power in my opinion.
So I say, buy some. A little at a time for a while. Having said all of that - i have had a few pints of beamish and 3 bongs so don’t blame me if it all goes horribly wrong.
Many would argue we are in for a dose of severe global deflation and that cash will be king. Equities will be trashed. Read more here:
theautomaticearth.blogspot.com/2008/11/debt-rattle-november-29-2008-inflation.html
Um, that’s two and a half years old…
I hate to say it, but a current passport and a one-way ticket.
McWilliams et al were warning of a property bubble years before it popped. Good job I didn’t listen to them and filled my boots in '07 like Canny advised, then.
Well, yeah, except that the deflation that was predicted was immediate and expected to last a number of years in the US. It didn’t happen. QE I, II, and III worked. In part, I suspect, because QE IV, V, and VI would follow if they hadn’t. Dollar deflation expectations have well and truly been pasted.
Unfortunately, though, it is the wrong kind of inflation. It is not a wage-price spiral that can be controlled by interest rates, but commodity inflation which is external to the US economy, pervasive (try living without commodities and see how far your economy gets), non-specific and unhelpful to the root problem - malinvestment and resultant over-indebtedness. There isn’t a reason, though, to think that the stock market is about to collapse.
Says the man still in bonds from 2007 and feeling a bit sore that he listened to TAE and Roubini in March 2009 when he was going to move into oil and equities… too much chicken, not enough beef…
Can’t go wrong with bricks n mortar! 
Anyone mentioned their own skills and employability?