and we all know how trustworthy the government is * yawn*

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guns kill guns
people kill people

if silver goes down to 11.50 ill pick up another 20 oz

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guns kill guns
people kill people

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good luck for it to ever get that low again

if silver goes down to 11.50 ill pick up another 20 oz

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Not with inflation the way it is no but in good enough times and if China is sated buying raw goods it should fall to that level in equivalent buying power.

I remember when silver was 4.25 oz.  

i dont think we'll see good times for awhile, personally. im just hoping it goes back to $21 at least for a short time so i can list it on the bay

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guns kill guns
people kill people

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Quote: from prisoner of hss at 6:31 pm on Aug. 13, 2008

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well OC I'd say it's more that the morons inflate the price of oil then people buy like mad to hedge against inflation

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Not quite. Inflation is being increased by oil and inflation is driving the price in oil. It's a vicious cycle. the shit-tastic dollar (thanks Bush!) is causing oil producers to increase their prices causing oil to rise. As oil prices rise, inflation rises, furthering the decline of the dollar, thus causing producers to raise prices. Left alone, this is a very bad wheel of destruction. And oil as a hedge is a relatively new thing. 10 years ago oil wasn't a hedge asset.  

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Fun fact: presidents don't control the economy.

Also, in your mad rush to blame Bush for the economy, as hss points out, you're forgetting to add in the effect of speculators in the market.  

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To some degree. The government has stated that there is no evidence of speculation driving prices abnormally high, but this is also the government where Paulson denied that the dollar had an impact on oil prices. If we wanted cheap gas, the *simplest way would be to rally the dollar. * meaning in terms of monetary effects, not actually getting there.

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I can't find the story right now, but I recall when oil went over $140 a news piece about how a man single-handedly pushed it over the $140 barrier, just so he could say he was the first person to buy oil at $140 a barrel.

The dollar has been rising in value in the past few months.  Precious metals and the dollar have an inverse relationship.  Do the math.

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Vote for REAL change.