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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (20939)5/11/2004 9:01:26 PM
From: Raymond Duray  Read Replies (1) of 81137
 
Hi Searle,

Re: I was caught up in all that and it took me many years to get it out of my system. But I agree, many are still dreaming that those days will return.

I was as well. I was quite young and totally naive about markets back then. I had an early success buying and holding physical silver for a period. Then I trusted a seemingly reputable commodities broker with some cash (a pittance by today's standards) which he promised he was combining with other's funds in order to get the best price on 100 oz. bars of silver.

After the delivery date came and went, so did the storefront he operated from. After a couple of years, the State Attorney General traced most of the money to the broker's secret Swiss bank account. As I recall, I recovered about 10 cents on the dollar. While I got a valuable lesson on the cheap, losing only a few hundred dollars, others lost their life savings to this swindler.

Will the days of rampant inflation in metals prices return? Perhaps not in the same fashion as when the Hunt Brothers tried to corner the silver market, but I feel 100% confident that when inflation starts to really raise its ugly head that we will be off to the races in the metals markets once again.

It's been a generation since the lame ducks embarrassingly nursed their losses in gold and silver speculation. It's about time for this mania to make a comeback, now that an entire new generation of innocent and ahistorical suckers is available. :)
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