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Fri, 04/08/2011 - 00:40 | 1148611 slow_roast
slow_roast's picture

Some serious pain coming to the idiots short the mining stocks.This is their liftoff signal.

Fri, 04/08/2011 - 00:59 | 1148680 nope-1004
nope-1004's picture

When it passed $20, was no big deal to me.  I guess it was to JPM.

When it passed $30, was another day for me.  Judging by the endless raids over the last month at 9:30am and 2:00pm eastern, it wasn't a good thing for the banksters.

When it passed $40, was another night on ZH for me.  I'll head to bed and get a good rest, while Blythe and the monkeys are up wondering how to pull more strings.

It will pass $50, $60, $130, $300..... because we have an idiot running the country and a sociopath telling us "concerns over inflation are largely overstated" and prices are rising from "more sophisticated diets" in developing nations.

Can't print physical silver.  The end is getting nearer.


Fri, 04/08/2011 - 01:00 | 1148691 Popo
Popo's picture

Yes but what governments can't create from thin air, they can take.

And "taking" will be accomplished through taxation of metals transactions.

Fri, 04/08/2011 - 01:11 | 1148713 Hook Line and S...
Hook Line and Sphincter's picture

and the Lord said, let there be barter

Fri, 04/08/2011 - 01:11 | 1148723 JohnG
JohnG's picture


Fri, 04/08/2011 - 01:30 | 1148776 LudwigVon
LudwigVon's picture


Fri, 04/08/2011 - 01:45 | 1148812 JLee2027
JLee2027's picture


Fri, 04/08/2011 - 02:08 | 1148844 Hot Piece of Bass
Hot Piece of Bass's picture


Fri, 04/08/2011 - 02:18 | 1148864 Temporis
Temporis's picture


Fri, 04/08/2011 - 02:22 | 1148869 Harlequin001
Harlequin001's picture


Fri, 04/08/2011 - 02:23 | 1148871 Harlequin001
Harlequin001's picture

just thought I'd throw that in, just to see what came down...

so what happened to US denominated debt then?

Fri, 04/08/2011 - 02:33 | 1148890 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Light a dollar on fire and tell us what happens.

Fri, 04/08/2011 - 02:37 | 1148905 Harlequin001
Harlequin001's picture

soft, strong and very very long...

don't seem to flush very well though...

Can you use them as a paper weight?

I don't think they useful even for that...

Give me a box of rocks anyday.

Fri, 04/08/2011 - 06:51 | 1149109 zhandax
zhandax's picture

Next time a smoker asks for a light, pull out a FRN, set it on fire, light your cigar with it, then hand to him.  Great way to create cognitive dissonance.

Fri, 04/08/2011 - 06:59 | 1149131 MaximumPig
MaximumPig's picture

I once ripped a $20 in half at a dinner with some law school classmates because we were trying to split the bill and didn't have any change, and they could not have been more shocked.

Fri, 04/08/2011 - 07:07 | 1149142 gordengeko
gordengeko's picture

You admitted your a lawyer?  You just lost cool

Fri, 04/08/2011 - 08:04 | 1149254 55 men
55 men's picture


Fri, 04/08/2011 - 02:40 | 1148916 Barmaher
Barmaher's picture

"and the Lord said, let there be barter"







I usually just read the posts but skip the comments because I don't want to go blind.  But that was pretty good!

Fri, 04/08/2011 - 04:13 | 1148996 FOC 1183
FOC 1183's picture


Fri, 04/08/2011 - 04:35 | 1149015 MarketTruth
MarketTruth's picture


Fri, 04/08/2011 - 05:16 | 1149041 falak pema
falak pema's picture

I've never seen so many people being religious about Silver... Is MAMMON now god of USA? You better believe it! I know, I know, it's only protective play against fiat devaluation tsunami...Let's hope that it stays so! If'll go like all other spirals...up into thin air!

In this current new exuberance...are we going to burn the Koran and the Bible and the Torah and the American constitution as well? Need some good human scapegoats to make the bonfire even more significant?...

I know who you guys want as first victims of NEW SALEM...Lady B! and her friend ...Benocide!

Fri, 04/08/2011 - 06:14 | 1149094 nmewn
nmewn's picture

We sit here in bemused consternation that our best and brightest act as if they have just snorted an entire eightball individually...babbling half truths, gnashing their teeth, rending their clothes over less than a one percent budget cut.

The creation of the issue is not of our doing. If they will not stop devaluing currencies there's not much point in holding them long.

As that great wack-a-demic mind Professor Romer said, they are doing it on purpose...LOL...while the producers in every society desire consistent value for labor expended. Part of that labor is saved for future use, so they are also devaluing your past labor if you hold that labor in fiat.

Once labor is taxed they have no claim to any portion of it...if they continue to tax it (through devaluation) it is simply called theft where I come from.

Fri, 04/08/2011 - 10:39 | 1149774 Creepy Lurker
Creepy Lurker's picture

If they are our best and brightest, we're in a lot more trouble than I thought...

Fri, 04/08/2011 - 06:52 | 1149125 Treeplanter
Treeplanter's picture

I suspect you've gone off your meds.

Fri, 04/08/2011 - 06:55 | 1149129 Treeplanter
Treeplanter's picture

I suspect you've gone off your meds.

Fri, 04/08/2011 - 08:02 | 1149249 earnulf
earnulf's picture

It's not that the folks into silver are religious, they are parroting the world view that anything written in a holy book is, excuse the term, gospel (to be accepted without question).     Many of the Christian Churches, especially the more conservative, bark out the "Amen" as the pastor is giving his sermon to show everyone else in the church that they are in total agreement with what is being said.   This has spread to the everyday use to show total agreement with a statement.   Although the origions are religious, it has become secular in this use.

Mammon is already God to far too many politicians, rulers, despots, terrorists, and everyday folks.    It is also a fact of life that many in "civilized" nations only know to either spend money to get something or trade something.    Barter is what began the "money" phase as people were willing to accept something that could be universally traded for goods (Thus the Taler and later the Trade Dollar).



Fri, 04/08/2011 - 05:25 | 1149050 Sudden Debt
Sudden Debt's picture



Fri, 04/08/2011 - 09:14 | 1149476 Híppos Purrós
Híppos Purrós's picture


Fri, 04/08/2011 - 06:50 | 1149121 CH1
CH1's picture


Fri, 04/08/2011 - 02:30 | 1148887 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Ptah, Ra, Amen

Fri, 04/08/2011 - 03:17 | 1148958 bushboy
bushboy's picture


Fri, 04/08/2011 - 06:11 | 1149090 writingsonthewall
writingsonthewall's picture

Amen - and then there was barter for all to see....

Fri, 04/08/2011 - 02:19 | 1148867 Ahmeexnal
Ahmeexnal's picture

And the we the people say: OFF WITH THEIR HEADS!

Fri, 04/08/2011 - 03:01 | 1148941 DavidPierre
DavidPierre's picture


$40.16 the people said...

It's late and some of us must work...

So I'm going to bed.

Fri, 04/08/2011 - 02:22 | 1148873 Double down
Double down's picture



Fri, 04/08/2011 - 05:29 | 1149052 Sudden Debt
Sudden Debt's picture



Fri, 04/08/2011 - 10:05 | 1149641 margaris
margaris's picture

did you say goooooooooooooooooood as in "god",


goooooooooooooooooooood as in "good"?


Fri, 04/08/2011 - 03:15 | 1148959 Trial of the Pyx
Trial of the Pyx's picture


Fri, 04/08/2011 - 01:31 | 1148777 LudwigVon
LudwigVon's picture


Fri, 04/08/2011 - 01:15 | 1148741 Id fight Gandhi
Id fight Gandhi's picture

Who run bartertown?

Fri, 04/08/2011 - 01:24 | 1148760 Dirt Rat
Dirt Rat's picture

I'm sorry but our brothels are full.

Fri, 04/08/2011 - 03:58 | 1148990 1fortheroad
1fortheroad's picture

Can you give me a spot, mate.


Fri, 04/08/2011 - 02:05 | 1148842 bonin006
bonin006's picture

Tina Turner

Fri, 04/08/2011 - 02:03 | 1148834 TumblingDice
TumblingDice's picture

No, he didn't. The lord said do as you're told.

Fri, 04/08/2011 - 02:23 | 1148870 Oracle of Kypseli
Oracle of Kypseli's picture

Let's not sell. No transactions. No tax.

Fri, 04/08/2011 - 03:20 | 1148968 BlackholeDivestment
BlackholeDivestment's picture

OKaaaeeey! BlackholeDivestment says ''FIGHT CLUB'' is on Bitchez.

Uh Actually the Lord said:

You see, when you cross the ''silver line'' in the sand you have ''given into temptation'' and have become the pimp'd out whore, you clueless Bitchez. You well know Chairsatan has POMO Zero Interest into the ''BTFD Cup'' on the chart. Get it right you drunken whores. Every time you fill your  ''BTFD Cup'' with the prophetic ''strong delusion''  your shit's in the wind troop. That means you are a pimp'd out Laodicean (AKA) ''luke warm'' drunken Whore of Babylon riding the prophetic global market beast of Babylon. 

Repent! ... and sin no more you pathetic weak Bitchez. Every time you buy sell or trade this market you feed the beast and dash your foot upon the stone like a delusional moron that has bruised their heel on their own ass. You encephalitic mad cows, you know you are not suppose to feed cow ''cow'' right? Snap out of it man. Even if you do not accept the seal of the mercy of our Father in Christ you at least are smart enough to understand the principle and math. ''The truth is not a choice'' Bitchez, the meaning of life is love. Stand fast and do no harm. End the Fed.

P.S. If you think the prophetic whore of Babylon escapes, having been sealed in agreement with the contempt in the ''BTFD Cup of Fornication'', think again Bitchez. That ''BTFD Cup'' is filled with the wine of wrath and it looks like a White Stone. Do not cast the stone upon your feet my friends, you shall be as Babylon is fallen fallen.

Game Over! End of fight.

Fri, 04/08/2011 - 05:40 | 1149060 Snidley Whipsnae
Snidley Whipsnae's picture


Fri, 04/08/2011 - 07:27 | 1149187 Bicycle Repairman
Bicycle Repairman's picture

Barter is the endgame.  It is a complete repudiation of fiat, and let's the little guy live without government. This is why Volcker took extreme action and raised interest rates.  If barter catches on, the game is over.  For good.

Fri, 04/08/2011 - 01:22 | 1148717 New World Chaos
New World Chaos's picture

Wait another two years and tax evasion will be seen as a patriotic duty.

I have a standing offer to a friend who keeps insisting "Obama is the best president ever":  I will give him an ounce of silver to write that in his own shit, and eat his words.

Just another factor of 10 to go, and he will probably be that desperate.

Fri, 04/08/2011 - 02:03 | 1148833 The Navigator
The Navigator's picture

It's our patriotic duty to do it now - starve the fucking beast, shut it down, shut it down.

Fri, 04/08/2011 - 02:07 | 1148845 lemonobrien
lemonobrien's picture


Fri, 04/08/2011 - 07:07 | 1149146 falak pema
falak pema's picture

you guys are going Greek...the full hog! Permanent due 'gubmint'...just sun and games in the 'tourista' economy...I hope you have more luck than the greeks did! They're getting clobbered after their government took advice from the Squid!! Never a good idea that...

Fri, 04/08/2011 - 07:11 | 1149153 sbenard
sbenard's picture

WE are John Galt!

Fri, 04/08/2011 - 10:45 | 1149807 Creepy Lurker
Creepy Lurker's picture


About time someone figured that out.

Fri, 04/08/2011 - 12:38 | 1150358 XitSam
XitSam's picture


Fri, 04/08/2011 - 02:25 | 1148877 Oracle of Kypseli
Oracle of Kypseli's picture

Israel attacks Iran over the weekend. 10:1 odds.

Fri, 04/08/2011 - 04:19 | 1149001 1fortheroad
1fortheroad's picture

I must be deranged but I just have to call. 

Fri, 04/08/2011 - 06:40 | 1149113 dussasr
dussasr's picture

Cover your ears doll.  Isn't that a daisy...

Fri, 04/08/2011 - 02:41 | 1148914 GoinFawr
GoinFawr's picture

Heh, sounds like a Spacemoose Challenge:
What would you do for a million dollars?

Fri, 04/08/2011 - 04:27 | 1149007 sethstorm
sethstorm's picture

I'm not sure that will be the case, for tax evasion writ large.

On the other hand, expect the promotion of seeking out tax evaders to become a sanctioned profession.  Doubly so for people who have gotten the wrong end of the economy, and would have no problem dealing with that problem for some coin.


Fri, 04/08/2011 - 07:16 | 1149166 chumbawamba
chumbawamba's picture

Seriously?  How many other guys have stockpiled weapons and ammunition for just such an eventuality?

You think I bought this shit to just look at?

Anyone seeking to collect rent from me under duress will have to negotiate with my representative, Mr. Mossberg.

Are you listening, you mother fuckers?

2 years unpaid; 2 years unfiled, going on 3.  Yeah, I'm the one.  I'm the drag on the American economy.  I'm not paying my fair share.

Molon Labe.

I am Chumbawamba.

Fri, 04/08/2011 - 07:32 | 1149190 Chumbadumba
Chumbadumba's picture

Stick it to the Man!!



Tue, 04/12/2011 - 13:22 | 1162129 Marla And Me
Marla And Me's picture

And that's the catch-22 of proposing a space for free speech: it's really easy for psy-ops fools to derail the conversation with idiotic charicatures of real commenters.  Here is our newest copy-cat - Chumbadumba

Notice that this character was created at least 43 weeks ago, but only started posting a bit over two months ago, which coincided with the return of the real chumbawumba.  I know we all love this space, but when I see stuff like this, I can't help but think that all that the Tylers do is create a pen to direct all the like-minded individuals to in order to make their identification easier.  There are at least 10 similar characters around.  Now that Redneck isn't around anymore, we get that green mouse.  At least Redneck was funny.  The green mouse, not so much.  His M.O. is ad hominem every single time.  Dedicated Trolls are all over this board, just like they are over at the Wall Street Journal (Marcia Crowley anyone?).  Sad...

Although I love this ZH information outlet, I often wonder if it isn't much more than a Langley/Brzezinski creation that the Russian trader Tyler had to agree to as part of his plea deal...

Fri, 04/08/2011 - 07:31 | 1149192 Bicycle Repairman
Bicycle Repairman's picture

I wonder if there will be "bounty hunters" seeking out those who "owe" taxes and "owe" the bank?

Fri, 04/08/2011 - 04:46 | 1149021 Lord Koos
Lord Koos's picture

Forget about it... silver and gold were made for black markets.


Fri, 04/08/2011 - 04:50 | 1149026 TerraHertz
TerraHertz's picture

taxation of metals transactions

Methinks then the metals transactions will become small and high velocity.

Fri, 04/08/2011 - 06:48 | 1149118 Ironmaan
Ironmaan's picture

Speaking of taxation. Do you think they will eventually demand records from metals dealers for purchases made before the $600 reporting requirement?

Fri, 04/08/2011 - 12:43 | 1150368 XitSam
XitSam's picture

A couple days ago the repeal of 1099 requirements in Obamacare were sent to Obama, as I recall.  Has he signed it?

Fri, 04/08/2011 - 07:08 | 1149144 Coldsun
Coldsun's picture

And when the citizens don't tell the truth our refuse to pay, the government well stick a gun in our face. That's when the deal metal transactions will begin. Most will get what they deserve.through vigilante justice at that time..

Fri, 04/08/2011 - 07:08 | 1149151 chumbawamba
chumbawamba's picture

Figures a pussy like you would worry about something like taxes from a corrupt regime that is losing credibility by the hour.

Do you know what the antidote to taxes is?  Guns.  And lots of fucking bullets.

Of course, a pink fluffly vagina like you would never consider it.

I am Chumbawamba.

Fri, 04/08/2011 - 07:20 | 1149174 New_Meat
New_Meat's picture

Popo, whoever junked you obviously hasn't read the "Obama-Care" bill.

Of course, reading >2k pages requires work.  Conyers don't wanna do no stinkin' work.

- Ned

Fri, 04/08/2011 - 08:05 | 1149263 ParaZite
ParaZite's picture

Yes but what governments can't create from thin air, they can take.

I remember from history class that the US confiscated Gold during the great depression. I think if the gov takes silver / gold, it won't be via taxation, it will be by gun point. That being said, molon labe...

Fri, 04/08/2011 - 08:26 | 1149322 BobPaulson
BobPaulson's picture

The confiscation was basically a failure though. Didn't work.

Fri, 04/08/2011 - 08:45 | 1149376 tmosley
tmosley's picture

Exactly.  I think they got some 500 tons IIRC, and almost 100% of that was from bank vaults (NOT safe deposit boxes).  There were never any door-to-door confiscations.  Even back then, that would have been nothing but a bloodbath (if they forced their way into people's homes), or a laugh riot (if they politely asked people to hand over their gold).

Fri, 04/08/2011 - 12:11 | 1150207 BobPaulson
BobPaulson's picture

The fact they made the law and it was a failure is very encouraging for nutjob physical precious metal hoarders like myself. 

Can you imagine how futile that would be to try to set up a dragnet to pull in all the physical given the kinds of people who are hoarding it? Like I said when the real estate bubble cratered: there aren't enough collection agencies in the US to even touch the surface of the defaults, man. Forget it. Fail.

Fri, 04/08/2011 - 01:02 | 1148694 Bananamerican
Bananamerican's picture

@ Nope-1004

+ 1 unjunk

Fri, 04/08/2011 - 02:27 | 1148881 Ted K
Ted K's picture



You're such a cynic.  They really do have "more sophisticated diets" in developing nations. Let me tell you Mister, I was in China just recently and you can get extra grease in your noodles and although it's not always on the label, you get plenty of extra phemaldehyde in your beer without even having to request it.

Fri, 04/08/2011 - 02:46 | 1148920 Moe Howard
Moe Howard's picture

Don't forget plastic rice - it does not get more sophisticated as a diet than that.

Fri, 04/08/2011 - 05:41 | 1149065 Snidley Whipsnae
Snidley Whipsnae's picture

More sophisticated than Ipads with lettuce, tomato, mayo?

Fri, 04/08/2011 - 08:29 | 1149328 konputa
konputa's picture

Sorry to burst your bubble but we certainly aren't here because of an idiot running the country. It took a lot more planning than that.

Fri, 04/08/2011 - 10:53 | 1149838 Creepy Lurker
Creepy Lurker's picture

You're absolutely right. We've had idiots and scalawags running the country for decades.

Fri, 04/08/2011 - 01:52 | 1148819 tbd108
tbd108's picture

You should remember that the last time we had serious market problems (2008) that the mining stocks went down 75 percent (more or less) because investors sold their good stuff to cover the margin problems. The market is viciously leveraged at the moment so if we do have a serious correction this could happen again. I got caught by this issue in 2008 and it took many months before I recovered my losses. I recommend great care before you go "all in."

Fri, 04/08/2011 - 02:25 | 1148880 Harlequin001
Harlequin001's picture

Well 108, all I can say is that I was a bullion investor at the time, and at the lowest of the lows I still held just as much gold as I did at the highs.

I have no debt and so no need to sell.

ergo, not worried...

but yes, good point.

Fri, 04/08/2011 - 03:50 | 1148986 Chicken_Little
Chicken_Little's picture

In '08 almost all of the selling was paper silver and there wasn't a growing shortage of physical like there is now. If another SHTF event happens, it'll be paper stuff again and the shortage of physical will be worse because of the bargin price. They'll be a point in time when you can't get it at all, and I'd hate to stuck with a lot of paper money and unable to get the real thing. Forget the going CRIMEX price, the real value is how many ounces of physical you have. One ounce in the hand is worth 100 ounces of paper silver in (you know who's) bush.

Fri, 04/08/2011 - 12:15 | 1149339 BobPaulson
BobPaulson's picture

That legendary day when the paper and physical price diverge radically will be glorious.

And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more  ;)

Fri, 04/08/2011 - 12:44 | 1150385 XitSam
XitSam's picture


Fri, 04/08/2011 - 03:06 | 1148953 Hugh G Rection
Hugh G Rection's picture


One of these days Alice, one of these days.... To the moon!

We'll see if Keiser is right about $47 by next week. Seppuku time Blythe. Please use a butter knife.

Fri, 04/08/2011 - 08:12 | 1149158 YouBetYourLife
YouBetYourLife's picture

Please use a butter knife



Fri, 04/08/2011 - 08:09 | 1149266 magis00
magis00's picture

or a  spoon?

Fri, 04/08/2011 - 08:17 | 1149285 Triggernometry
Triggernometry's picture

Can I get a wha wha...

Fri, 04/08/2011 - 00:38 | 1148613 Filthy Rotter
Filthy Rotter's picture

I'm rich!!!

Fri, 04/08/2011 - 00:38 | 1148614 thefatasswilly
thefatasswilly's picture

No, you're not.

Fri, 04/08/2011 - 02:59 | 1148885 Harlequin001
Harlequin001's picture

Hate to rain on anyone's parade but in terms of silver you're no better off than you were yesterday...

Question is, are you still just as wealthy... after tax...

I don't think so...

Fri, 04/08/2011 - 08:54 | 1149400 Filthy Rotter
Filthy Rotter's picture

"Question is, are you still just as wealthy... after tax..."

I do not know these words you speak of.  Nothing but a distant memory.

Fri, 04/08/2011 - 11:34 | 1150036 Harlequin001
Harlequin001's picture

good man....

that's if you are a man of course...

otherwise, good girl...

if I haven't got it at least half right by now, we're in trouble...

Fri, 04/08/2011 - 00:44 | 1148637 Dane Bramage
Dane Bramage's picture

Oh boy! I’m rich! I’m wealthy! I’m socially independent! I’m secure! I’m rich! I’m rich!

Fri, 04/08/2011 - 00:52 | 1148665 palmereldritch
palmereldritch's picture

Consequences, schmoncequences...

Fri, 04/08/2011 - 01:25 | 1148768 JustPrintMoreDuh
JustPrintMoreDuh's picture

down down down!!

go go go!!

mine mine mine!!!

Fri, 04/08/2011 - 03:03 | 1148944 Harlequin001
Harlequin001's picture

Was that another nuclear power plant going bang, or was it that infamous Bear Stearn's silver short???

Good job they gave it to JPM, anyone else would be totally screwed...

Fri, 04/08/2011 - 00:58 | 1148685 Dane Bramage
Dane Bramage's picture

jic the subreference is lost on anyone this late in the evening ~>

Fri, 04/08/2011 - 01:04 | 1148699 Bananamerican
Bananamerican's picture

everything i ever learned about Free Markets i learned from Bugs Bunny

Fri, 04/08/2011 - 00:39 | 1148615 no2foreclosures
no2foreclosures's picture

Game over, JPMorgan Chase and HSBC.

Fri, 04/08/2011 - 00:53 | 1148675 Popo
Popo's picture

Sigh.  Even if that were true, they would just bail them out again. 

And establishing a tax on silver transactions is about the easiest thing in the world to do.  

If anyone honestly thinks that this is "lights out", they haven't been paying attention.


Fri, 04/08/2011 - 01:00 | 1148692 fuu
fuu's picture

I hope they do bail them out. Suits me just fine in the longer run.

Fri, 04/08/2011 - 01:08 | 1148704 Shameful
Shameful's picture

Uh no. What part of TBTF don't you understand? If the Fed has to dump 100 trillion into their accounts they will. There is no amount to large for the Fed to bail out. It's only dollars after all.

JPM has a better chance of surviving then the dollar does.

Fri, 04/08/2011 - 01:25 | 1148770 Hook Line and S...
Hook Line and Sphincter's picture


It seems that unless JPM actually has real PHYS PM's, then the soon to arrive intersection of unrestricted Fed printing and JPM bailout funds should result in zero dollar purchasing power for JPM and mortality recognition soon after.

O.K., that was my unreasonable hopeful reasoning speaking. I know that this particular manifestation of TBTF has the magic of being undead in their bag of tricks. 



Fri, 04/08/2011 - 01:37 | 1148796 Shameful
Shameful's picture

Why? Worst case they default at the COMEX. Gov bails them out or court system absolves them. Or as I said infinite fun bux and price be damned.

Why would that hurt JPM? Don't you think if they see this they wouldn't they have hedges for dollar weakness to the point of crucifying counter parties?? Maybe load up on dollar debt? Trust me JPM is in 0 danger the dollar on the other hand...

Fri, 04/08/2011 - 01:48 | 1148814 JLee2027
JLee2027's picture

100 Trillion?

Congress might actually be forced to notice that.

Fri, 04/08/2011 - 02:32 | 1148888 Harlequin001
Harlequin001's picture

yes but then all the unallocated investors would be spat out into the real world.


Good night ETF's...

Fri, 04/08/2011 - 01:47 | 1148815 Hook Line and S...
Hook Line and Sphincter's picture

No disagreement here, the hedges exist. I was attempting to entertain myself in the first paragraph by formulating a way I could vicariously attend a funeral that ultimately will never arrive. Knowing better, I confess... JPM is the undead.

Fri, 04/08/2011 - 02:48 | 1148926 Glass Steagall
Glass Steagall's picture

Like telling a zombie, “You can’t eat my brains because you can’t afford ‘em.” Good luck with that. You are correct, Hook – The Bernake will paper over this and JPM knows it (calls it, more like). Good luck Silver Liberation Army – but until you start melting down those rounds into .762’s you aint gonna be killing no zombies anytime soon…

Fri, 04/08/2011 - 07:45 | 1149218 chumbawamba
chumbawamba's picture

Behold the awesome destructive power of fiat money!

I am Chumbawamba.

Fri, 04/08/2011 - 02:12 | 1148853 SRSrocco
SRSrocco's picture

Shameful....what you say sounds nice on paper, but we must remember there is a limit to insanity.  Governor of the Reserve Bank of Zimbabwe, Gideon Gono tried to do the same thing and in the end, the Zimbabwe Dollar became worthless.


JP Morgue'n along with Blank of America, Wells Fargone and Goldman Sacked, will all be a memory.  It is just a matter of time.  



Fri, 04/08/2011 - 02:33 | 1148896 Harlequin001
Harlequin001's picture

I've said this before guys, the problem with Zimbabwe was that at the time it was surrounded by economies that looked fairly stable, devaluation was swift and measurable.

But what do you now devalue the USD or the US economy against. There is nothing by which you can measure the plunge except pm's, ergo this is not over yet, not by a long shot...

Fri, 04/08/2011 - 03:05 | 1148946 SRSrocco
SRSrocco's picture

Harlequin001....of course we can debate until we are blue in the face, but I see this disintegrating faster than most are forecasting.  If you remember JOHN GALT'S, "THE DAY THE DOLLAR DIED", fictional series, it happened rather quickly.

Japan has pushed the timetable up much quicker.  When things head exponentially....they trend exponentially even faster. 

As for some INFO on the BANK PARTICIPATION REPORT concerning is the following:



03/01/11 CMX SILVER Commercial Shorts =25,586 contracts

Open interest = 135,802 contracts

04/05/11 CMX SILVER Commercial Shorts = 25,412 contracts

Open interest = 143,013 contracts

We can see there are another 7,000+ new open interest contracts but the big commercials actually liquidated a 100 short contracts.  This is quite interesting when you realize Silver has added $8.00 between reports.

I believe people will be shocked to the degree and speed that the Fiat Dollar and Supply Chain Systems disintegrate.



Fri, 04/08/2011 - 02:54 | 1148931 Glass Steagall
Glass Steagall's picture

Zimbabwe didn't have the world reserve currency. Zimbabwe didn't have a standing army to prop up it's fiat currency.


Print away, Benny... print away.


Gonna take the same kinds of violence that support the regime to take it down. Peace sells, but who's buying?

Fri, 04/08/2011 - 04:47 | 1149023 Lord Koos
Lord Koos's picture

Zimbabwe had the US dollar as reserve to fall back to.  The dollar has nothing but gold & silver to fall back to.

Fri, 04/08/2011 - 08:21 | 1149303 depression
depression's picture

Now hang on just one cotton picking minute here...

The dollar has the full faith and credit of the next 20 generations good ole' red blooded US of A taxpayers to fall back on. And if that ain't good enough for ya, we got 1800 ICBM's warming up in the bull pen to back that up.

Fri, 04/08/2011 - 07:07 | 1149149 Head for the Hills
Head for the Hills's picture

"Sir, would you like to pick a selection from from the titanic's fine dessert menu?"

"Please note that the wine celler in the lower level has been temporarily closed for the evening."

Fri, 04/08/2011 - 06:32 | 1149106 chunga
chunga's picture


Fri, 04/08/2011 - 07:13 | 1149157 falak pema
falak pema's picture

why isn't shitty Citi in your list?

Fri, 04/08/2011 - 07:36 | 1149200 Bicycle Repairman
Bicycle Repairman's picture

At some point if the investment banks think the $ is going to zero, they will be taking printed money and buying PMs.

Are we there, yet?

Fri, 04/08/2011 - 08:46 | 1149378 Calmyourself
Calmyourself's picture

Yes look at what Gideon did and I believe he still wastes oxygen..  Gives you an idea of what an anesthetized public will do here as they are slowly painfully screwed.  Long way to go, more soma??

Fri, 04/08/2011 - 02:22 | 1148874 Dugald
Dugald's picture

Now that's a sad thought....

Fri, 04/08/2011 - 03:28 | 1148975 Popo
Popo's picture

There you go with that "logic" thing again.    In case you haven't realized, most Zero Hedge readers believe things will play out the way they 'want' things to play out.

They think that this time will be different, and that the government will allow JPM to fail.  They think that in the midst of our next economic calamity, the government will suddenly act responsibly and bite the bullet.

The taxpayer is on the hook for everything.  And that includes silver.    The naievete of some readers here is pretty amazing.  They read ZH all day long and are fully aware of how corrupt the system is.  And they know how extensive the bailouts really are.  And yet, they believe that when it comes to silver, everything will be different.  Why?  Because they hold silver that's why.


Silver is probably going to double from here, and it's probably a great investment.

But anyone thinking that the TBTF banks are going to fail has been sleeping in class.


Fri, 04/08/2011 - 05:09 | 1149037 TerraHertz
TerraHertz's picture

Most here understand that the government will do everything in its power to keep the TBTF banks (and other evil empire tentacles) animated.

What we anticipate (with relish) is the point at which systemic failures cause the entire structure - government, FED, banks, US$, and the global Engine of Elite Control to throw a rod and beat itself to pieces. Discontinuity, Bitchez!

Silver is kinda like the oil temp gauge. At some point in it's rise, bad things happen to the fiat empire's big ends.

$40.2 and still rising. Pour in some more sand! This rigged-economy clunker needs to DIE!

Fri, 04/08/2011 - 05:24 | 1149049 Popo
Popo's picture

If a spike in a single commodity is going to bring the system down (which is entirely possible, for the record) it won't be silver.  It will be oil, corn, wheat or soy.

Fri, 04/08/2011 - 05:53 | 1149076 TerraHertz
TerraHertz's picture

Silver price isn't the cause, it's the readout of the whole system's disintegration. Call it a measure of dissatisfaction, or whatever, who really cares what complex psycho-economic processes form its behavior. It works. Even when Legions of Evil are doing their damndest to distort the signal, they STILL eventually will fail.


Fri, 04/08/2011 - 06:15 | 1149092 BoeingSpaceliner797
BoeingSpaceliner797's picture

Very nicely articulated.  Thank you.

Fri, 04/08/2011 - 06:20 | 1149099 Sudden Debt
Sudden Debt's picture

I hope that the US will save JPM!!!

If they print billions more, silver will go up even more!!







Fri, 04/08/2011 - 08:25 | 1149324 tmosley
tmosley's picture

It's not really about getting them to fail, it's about getting them to default.  That is where physical silver holders really get rich.  We are perfectly aware that any losses will be either ignored or papered over.  After all, you can't kill a zombie by starving it to death.  You have to remove the head, or destroy the brain.  You know what that means.

Fri, 04/08/2011 - 00:41 | 1148617 I think I need ...
I think I need to buy a gun's picture

wow....and i'm hitting the grocery market tomorrow as well for food that lasts more than a year

Fri, 04/08/2011 - 00:54 | 1148668 Kali
Kali's picture

Do it first thing in the morning.  I am almost afraid to go to sleep tonight, afraid to see what I wake up to.  I am exhilirated and alarmed.  Is the camel's back really broken now?  The suspense is killing me!  I been saying fer quite awhile that I can't believe the system is still working when I wake up every morning.  Yikes!  Tomorrow is gonna be wild.  Watching the DXY is for the brave of heart too, swan dive!

Fri, 04/08/2011 - 03:45 | 1148977 Popo
Popo's picture

Shh.. don't tell your fellow ZH readers this, but JPM can go long futures at any point that they feel max-pain from increasing silver prices.  

For some completely unknown reason, they believe JPM doesn't know how to hedge its trades -- and is incapable of doing so at any date.

Junk away, but a short position on ever rising prices only correlates to an infinite loss if there are no hedges.  Explain why there can be no hedges to stop further bleeding please.

... ah what's the point.  We have a room full of emotional investors here, and the extent of their trading knowledge comes from a couple of animated pigs created by oh so impartial bullion dealers, and a zany video blogger and his girlfriend who get their funding from the Russian government's propaganda channel.

Silver will continue to soar (I continue to hold).  But there will be no collateral damage in the TBTF's.   And the government *will* at some point tax metal trades.  And that, is the sell signal.

Fri, 04/08/2011 - 04:37 | 1149017 EscapeKey
EscapeKey's picture

Please explain how JPM can go long futures without affecting the price to the upside.

Fri, 04/08/2011 - 05:30 | 1149053 Popo
Popo's picture

Oh, it will be *incredibly* bullish for silver the day they do.  My point isn't that silver is a bad investment:  Silver's going to go gangbusters the day JPM hedges their shorts.

Fri, 04/08/2011 - 07:41 | 1149205 Bicycle Repairman
Bicycle Repairman's picture

The day that JPM decides the $ is toast they will be buying silver with those newly printed $.

Has that day already arrived?  I hope so.

Fri, 04/08/2011 - 02:51 | 1148930 EscapeKey
EscapeKey's picture

What is getting an underwhelming amount of attention is the performance of the USD/JPY. Even as the DXY plunges, the Yen continues to outperform... on the short side.

Fri, 04/08/2011 - 00:41 | 1148618 Hearst
Hearst's picture

HAHA $40 Silver Bitchez!!  Only this should have happened in 2008.

Fri, 04/08/2011 - 01:46 | 1148810 Bay of Pigs
Bay of Pigs's picture

You got that straight,. Without the Bear Stearns/JPM/FED deal, gold and silver go parabolic way back then.

We're not quite there yet bitchez....but it's coming.

Fri, 04/08/2011 - 00:41 | 1148626 BlakeFelix
BlakeFelix's picture

I was clicking the zerohedge banner waiting for it.  Thanks TD!

Fri, 04/08/2011 - 00:53 | 1148663 Id fight Gandhi
Id fight Gandhi's picture

Me too. I gots the physical no paper. Aw yeah...

Fri, 04/08/2011 - 01:02 | 1148698 UncleFurker
Fri, 04/08/2011 - 00:42 | 1148627 BlakeFelix
BlakeFelix's picture

then double posted...

Fri, 04/08/2011 - 00:41 | 1148630 Athemos
Athemos's picture

We all knew this was coming soon, still feels like I've had the wind knocked out of me still, when understanding what this means for a view of the whole forest.

Fri, 04/08/2011 - 00:44 | 1148633 Darth Silver
Darth Silver's picture

Ka Chow!


Fri, 04/08/2011 - 00:43 | 1148635 RobotTrader
RobotTrader's picture

Max price on NetDania $39.95

Fri, 04/08/2011 - 02:39 | 1148912 Harlequin001
Harlequin001's picture

sounds cheap...

sounds very cheap, don't you think?

Fri, 04/08/2011 - 00:46 | 1148638 slow_roast
slow_roast's picture

Well guys, we might have landed on the moon first but the Asians took us to $40 silver this century; they win!

Fri, 04/08/2011 - 00:44 | 1148640 RobotTrader
RobotTrader's picture

I wonder if The Bernank is staring cold-blooded at his Blackberry, barking out orders to Asian goons to knock it down.

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