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$40.005

Submitted by Tyler Durden on 04/08/2011 00:39 -0400

Lights out

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Fri, 04/08/2011 - 00:51 | 1148659 bonin006

Yup, he just got it down to $39.95

Fri, 04/08/2011 - 00:56 | 1148676 Misean

Your avatar is glitching...

Fri, 04/08/2011 - 00:44 | 1148642 Misean

Gonna have to use something other than 100 oz bars to prop up the glass coffee table now.

Fri, 04/08/2011 - 00:50 | 1148658 Yen Cross

You need to invest in some (Never Dull) my friend! Well done.

Fri, 04/08/2011 - 00:54 | 1148677 Misean

Some...yeah...

Fri, 04/08/2011 - 00:55 | 1148681 IQ 145

Fri, 04/08/2011 - 00:49 | 1148650 Hedge Jobs

this is what the start of a USD collapse looks like.

Fri, 04/08/2011 - 03:42 | 1148982 saulysw

It could be... it could be.

Fri, 04/08/2011 - 00:49 | 1148653 lsd

congratulations everyone

Fri, 04/08/2011 - 01:15 | 1148742 Shameful

On what? Seems like a pyrrhic victory to me.

"Woo-hoo! The dollar is tanking! Standards of living to plummet! Party on!"

Metals are like car insurance, you hope you don't have to use it. its there in case of bad things, like a lunatic in a 8 trillion horsepower printing press running over your car. Don't know about you but I would prefer to keep my standard of living then have my wages slashed and look at my meager supply of metals and hope for the best.

Fri, 04/08/2011 - 01:34 | 1148782 NidStyles

Yeah, because all of that was based on $7 dollar silver. $40 had nothing to do with the drop in supply at all.

Fri, 04/08/2011 - 01:43 | 1148804 Shameful

So tell me is WTI moving up because of supply problems? Seems to me they are awash with oil and running out of storage capacity. So either it's a whole new paradigm where more supply = higher price, or we are seeing the dollar slowly melt before our eyes.

Fri, 04/08/2011 - 02:13 | 1148854 Hedge Jobs

has been slowly melting for a while now, this is the part where it speeds up

Fri, 04/08/2011 - 02:41 | 1148917 Harlequin001

It's an opportunity to get ahead of the game...

nothing more.

But I do agree with your sentiments...

Fri, 04/08/2011 - 02:43 | 1148918 stephysat28

I agree would rather have a stable U.S.A. we are headed to a dark place and hope and pray to keep our families safe with the shiney stuff.

Fri, 04/08/2011 - 07:41 | 1149210 Bicycle Repairman

We will continue to have a stable USA. All that will happen is the deck chairs will be re-arranged. Those with PMs will get a better view of the ocean.

No iceberg.

Fri, 04/08/2011 - 00:51 | 1148654 nope-1004

Lights out for some, hopefully the white collar....er.... white-haired crook Blythe.

$40 is rather timely, as Soros is planning to loot another nation, the US, by issuing a new currency backed by PM's.

http://www.americanfreepress.net/html/bretton_woods_ii_265.html

Fri, 04/08/2011 - 01:52 | 1148818 JLee2027

Soros is the devil.

Fri, 04/08/2011 - 02:49 | 1148924 Ahmeexnal

Soros is one ugly, fat, old baglady.

Fri, 04/08/2011 - 04:46 | 1149020 Stormdancer

Now, now...."Soros is the devil" is going a bit far, but I'd bet they'v e got "pet" names for each other...

Fri, 04/08/2011 - 00:52 | 1148655 Logan Tassajar

2000 GC before you know it, time flies

Fri, 04/08/2011 - 00:50 | 1148657 Elliott Eldrich

My big question is, will silver continue to skyrocket up while gold sort of casually saunters up in price, or will gold start to power up in a manner similar to silver at some point in the not too distant future? Or, is this a 'blow off' top, to be followed by a hammering down? I remember when silver got smacked down from $18 to $9 not all that long ago...

Fri, 04/08/2011 - 01:07 | 1148702 Athemos

Elliott that is exactly what is going to happen. For thousands of years the gold / silver ratio was 1:12 to 1:13. The ratio just months ago was 1:50 and this has steadily been unwinding back to historical levels. We are at about 1:36.6 or so currently so we have a ways to go.

Fri, 04/08/2011 - 01:18 | 1148746 OldTrooper

How well I remember the days of $9 silver! Could we get lucky enough to see $9, $20 or $30 silver again? Lets hope so. There's still a bit of room in my gun safe.

Fri, 04/08/2011 - 00:55 | 1148660 fuu

http://www.youtube.com/watch?v=ppHg6p7tEUQ Bitches!

Fri, 04/08/2011 - 00:53 | 1148662 LeftCoastRefugee

Wonder how soon the market figures out the greenback is Charmin.

Fri, 04/08/2011 - 00:55 | 1148673 IQ 145

I guess peace and prosperity failed to break out once again.

Fri, 04/08/2011 - 00:57 | 1148683 LowProfile

Somewhere, a bankster is stirs in their sleep, murmuring:

"Mmm...

...Euphoria..."

Fri, 04/08/2011 - 00:58 | 1148686 CrankItTo11

Where's the douche who swore silver could NEVER ever ever ever get to $40?

Fri, 04/08/2011 - 01:00 | 1148695 ForWhomTheTollBuilds

Not sure, but I know a guy who can dig it out of the ground for $5. He doesn't like to talk about it much these days for some reason.

Johnny Bravo is reading this thread and seething with rage

Fri, 04/08/2011 - 02:40 | 1148911 stephysat28

He drove his red car to dig it out of the ground!

Fri, 04/08/2011 - 03:14 | 1148956 Ahmeexnal

Math Man is out on a ride in his Ferrari. Poor idiot. I'm sure he's still repeating to himself "it only costs 5 dollars to dig it out from the ground".

Fri, 04/08/2011 - 08:51 | 1149395 Calmyourself

Hopefully he drove the Ferrari through the beach house directly into the ocean.

Fri, 04/08/2011 - 09:25 | 1149521 ZapBranigan

That's some funny shit CY!

Fri, 04/08/2011 - 07:21 | 1149178 falak pema

taking a douche or shower (in french)... Must get rid of his stench of hatred for heavy metal rock bands.

Fri, 04/08/2011 - 01:07 | 1148701 zack

It is hard not to play amateur Nostradamus. Just sent this email to my father, thoughts?

As i mentioned this is not going to stop. This is a crash of the US dollar, nothing more nothing less. Anyone watching the US dollar go down, and asking "why is silver in a bubble" is looking from the wrong perspective. Tomorrow they are going to talk about the budget ceiling and how not passing it will result in huge catastrophe to the US, but if somehow they can print more money (ie continue the treasury debt which is begin bought by Fed sleight of hand) everything will be fixed? That is illogical.
There are 3 scenarios

The Fed announce they are wrong immediately raising rates from 0% to 2%, stop pumping money in stock market, and let the economy off drugs in time for election. Huge crash in stock. US govt has to cut huge portions of itself as form of austerity. Counter to all their "helicopter" work since 2009. Silver stable at $40, may drop to $35.

They continue everything they have been doing and let dollar crash continue. No need to cut the govt, just print more. Japan prints to fund "recovery." Silver will go to $50, then $70 etc.

The COMEX exchange admits it cannot meet demand (why does it trade 1/3 of annual production every few days?). SLV is gone, GLD is gone. Paper market default. Silver to $150.

I consider 2 and 3 highly likely. Here are the silver ETFs vs Pepsi and McDonalds http://www.caseyresearch.com/sites/default/files/SilverETFInvestmentisPuny_0.png

You are still getting bargain prices. BUY NOW

Fri, 04/08/2011 - 01:09 | 1148711 Hedge Jobs

"thoughts?" agreed

dont think just do, get the fuck out of USD however you can

Fri, 04/08/2011 - 01:19 | 1148752 Bananamerican

from my sounds plausible "file"

"(according to TA) we should see a low (in the dollar)below 70.70 between now and the end of May. Then a corrective dollar rally afterwards. What this means is that precious metals, commodities, and oil are going to skyrocket between now and May. And then they will have a correction when the dollar rallies.

Longterm, this likely means the dollar death spiral begins here. Lower lows, lower highs. Meanwhile, the PM's, commodities, and oil are going to continue to have higher highs and higher lows as their bull markets persist. We'll still see corrections from time to time, but this is normal market action.

When we have this PM correction after May, it will be called a D wave correction by technical analysts. It'll be a good time to jump in to PM's. Keep your powder dry and watch for it."

Fri, 04/08/2011 - 01:59 | 1148826 Hedge Jobs

definately in the plausible file, thats propably good, sound advice. what id be worried about is:

1. "this is normal market action". yes but is this a normal market?

2. "Keep your powder dry". If your "powder" is USD, it might be hard to keep it dry if a hurricane blows in.

"watch for it" is right though, its going to be one hell of a spectacle!

Fri, 04/08/2011 - 02:05 | 1148841 UncleFurker

A fraud-filled market is not anything like normal.

Fri, 04/08/2011 - 05:00 | 1149033 LudwigVon

a nice look at letter risk.

Fri, 04/08/2011 - 02:33 | 1148891 Dugald

Be jabbers but that's Un-American sir!!!!!!

Fri, 04/08/2011 - 02:32 | 1148893 Dugald

Be jabbers but that's Un-American sir!!!!!!

Fri, 04/08/2011 - 07:27 | 1149185 falak pema

btw not everybody agrees to that. There are those (in minority now) who think a world military crisis will make Yen and Euro tank before USD and then USD becomes safe haven of monetary Jerusalem. Not with O'bammy in charge...for sure...he only likes hit and run wars...But if Saudi tanks or burns...you never know Wyatt Earp may come back on the scene with a vengeance!

Fri, 04/08/2011 - 01:18 | 1148750 worms eye view

Thanks for the post. I'm a newbie and have been debating wether the take off of silver was due mostly because of the declining dollar or "market" pressure. I know that there is no free market in silver, and all I own is physical, but I have figured out that in the end it doesn't matter. I'm trading my frn's for coins and bars. I can't get on the gold train, but I've punched my ticket for the silver bullet. But that's just how a worm sees it.

Fri, 04/08/2011 - 01:33 | 1148789 ElvisDog

There is a 0.0% chance of Bernanke admitting he made a mistake, so (1) ain't gonna happen. The most likely scenario is (2).

Fri, 04/08/2011 - 01:07 | 1148706 UncleFurker

$1500 AU in 3... 2...

Fri, 04/08/2011 - 01:10 | 1148710 Caviar Emptor

-And the idols shall be overthrown

Faith in paper taking a serious hit tonight. Hey, I'll trade you some really cool paper for some of that shiny metal. Deal?

Fri, 04/08/2011 - 01:13 | 1148722 wkk1214

KITCO 100oz SILVER BAR SOLD OUT ALREADY IN HONG KONG

Deliver In 2 To 4 Weeks

> Kitco 1 oz Silver Round 2010 Kitco Selling Price Kitco Buying Price 1 oz 0 HKD/Unit 309.41 HKD/Unit > Kitco100oz Cast Silver Bar Kitco Selling Price Kitco Buying Price 100 oz Cast 0 HKD/Unit 30925.1 HKD/Unit > Kitco100oz Minted Silver Bar Kitco Selling Price Kitco Buying Price 100 oz Minted 0 HKD/Unit 30940.6 HKD/Unit > Kitco 10oz Silver Bar Kitco Selling Price Kitco Buying

Fri, 04/08/2011 - 02:11 | 1148852 Bay of Pigs

And where's Jon Nadler to explain all this?

Fri, 04/08/2011 - 15:35 | 1151022 akak

Most likely, he is shitting bricks right about now, as redemptions for his Kitco pooled PM accounts continue to accelerate and Kitco's reserves of physical metal backing those Ponzi pooled accounts continue to dwindle.

Fri, 04/08/2011 - 01:13 | 1148727 lolmaster

SLW $50? bitchezzzzz

Fri, 04/08/2011 - 01:15 | 1148729 astartes09

Long physical silver and long PHYS and various mining stocks.

Fri, 04/08/2011 - 01:19 | 1148730 TruthInSunshine

I'm most certainly alone, but I say that the relentless rise in silver spells a death sentence for The Bernank.

I will let others, if they so choose, pontificate on the elaborate 'whys.'

The simple fact to me is that as a 'poor man's' alternate, faith-based currency, even with a low % of the population 'buy in' rate (at least physical), it harkens the looming loss of faith in FRNs.

This precipitates global inflation that will be 5x what is has been for the last 12 months, until monetary policy of The Bernank is reversed.

So, $5/gallon gasoline and $5/loaf bread will be enough to finally get Americans enraged and literally seeing red. Many thought it would take $10, but it will only take half that.

Shit gets real starting now. Yo.

Oh, I almost forgot: Fuck you, Bernanke. Fuck you, Krugman. Fuck you, Geithner Elf. Fuck you, Jamie. Fuck you, Blythe. Fuck you, CNBsC. You are dead men, women and institutions walking.

Now, one big Caveat: If there's a policy reversal of even some speed, elevator down. But most here don't think this is possible given macroeconomic and monetary factors. "We'll see," said the Zen Master.

Fri, 04/08/2011 - 01:22 | 1148759 Captain Benny

Don't forget a big fuck you to both Paulsons... We know you can't eat an Ipad, but we can make these fuckers eat lead.

Fri, 04/08/2011 - 09:10 | 1149447 Kaiser Sousa

and dont forget,....

fuck all bankers - period......

Fri, 04/08/2011 - 01:26 | 1148767 Bananamerican

it aint possible...we are NOT Sparta

Fri, 04/08/2011 - 03:10 | 1148955 LudwigVon

I'm most certainly alone, but I say that the relentless rise in silver spells a death sentence for The Bernank.

'why~.'

I heard this here on ZH: Can't the Chinese set up a company, put dollars bought with printed Yuan into said company, have JP short silver for their client who now can buy physical at lower cost which the paper market still has a tenuous connection to. Then just let the company accumulate the shorts, and it can sit there. Could be done here on our soil too. Thats called the Fed.

Fri, 04/08/2011 - 01:15 | 1148732 ucbanpo

I love Max. I am a foreign student at Cal, and the tuition costs $18,000 for international students. My parents sent me $22,000 last Sep when silver was $20. I didn't pay it, and instead I bought silver! Now I earned $17,000. This semester is free althought they blocked my registration. I am graduating May, so I will pay next month.

I love Max & Stacy!!! Go Silver Liberation Army!

Fri, 04/08/2011 - 01:16 | 1148743 astartes09

I have a UC degree. Do yourself a favor and dont waste your time. Fat load of good Anthropology did for me. Go out and do work son.

Fri, 04/08/2011 - 01:43 | 1148803 SumSUN

SLA!

Fri, 04/08/2011 - 01:44 | 1148805 US Uncut

No, your parents earned $17,000. You didn't do jack. THEY worked for it. Hope you gave them back their $22K.

Fri, 04/08/2011 - 01:14 | 1148735 Coldfire

JPMorgue shouldn't be too concerned, they'll make it up long-term on their PIIGS debt "investments".

Fri, 04/08/2011 - 01:16 | 1148736 baby_BLYTHE

chairsatan is sweating bullets right about now

Fri, 04/08/2011 - 01:17 | 1148739 Bansters-in-my-...

More Cowbell...!!!

Fri, 04/08/2011 - 01:34 | 1148788 Sedaeng

+40.005

I got a fever, and the only prescription is...

Fri, 04/08/2011 - 02:45 | 1148919 SgtSchultz

"Gene, explore the studio space this time. No really, explore the space"

Fri, 04/08/2011 - 02:09 | 1148849 UncleFurker

+3dB

Fri, 04/08/2011 - 01:19 | 1148745 ebworthen

Fiat?

Strong Dollar?

U.S. the "World Power" still?

Tomorrow is a Friday so beware, long positions, banks will be shorting, it is better bought at corrections versus highs, short at your own risk as I hear the banks are having fun with that trade and you know they are first in line...

Fri, 04/08/2011 - 01:18 | 1148747 Bansters-in-my-...

I bet thier Silver Bullets.

Fri, 04/08/2011 - 01:22 | 1148754 Bansters-in-my-...

Time to steal my Mom's silver toe ring.....

Just kidding .About stealing it that is.

Fri, 04/08/2011 - 01:24 | 1148756 ucbanpo

@ astartes09

Yeah, I kind of got that too. But If I were not here, Berkeley, I wouldn't know about gold&silver, zerohedge, kingworldnews, Harvey Organ, Jesse Cafe, Russian today, etc. So Far so good! I hope I can get a job at Singapore Mercantile Exchange! That would be perfect!

Fri, 04/08/2011 - 01:54 | 1148763 Greybeard7

Wow! I really misunderstood the financial pundits. They really meant "buy and hold" precious metals, not stocks. (Well, that's the only way to give them any semblance of credibility now.) How silly of me to think a mix of mutual funds and bonds would be protection against inflation and a global fiat money system collapse.

Welcome to the new world order.

Fri, 04/08/2011 - 01:25 | 1148764 NidStyles

Booya MFer's. Short that, you evil witch.

Fri, 04/08/2011 - 01:24 | 1148765 Dr. Porkchop

the cartel will be all over this tomorrow

Fri, 04/08/2011 - 01:33 | 1148780 TruthInSunshine

Just had a client send me a text (maybe drunken text?) asking me whether $50,000 of physical at anything close to $35 can be purchased and delivered to him in the next several days.

Why he texted me at 1:30 am is beyond me, and how the hell does he think it will be possible to get physical delivered for $35?

And I'm not a metals guy. I just mentioned it to him casually once in awhile when shooting the shit about RE and such.

Fri, 04/08/2011 - 03:07 | 1148950 SilverRhino

$40.25 now at APMEX and they JUST started selling 1/4 and 1/10 th ounce rounds at 20 and 7 dollars respectively. I'd say someone is expecting one hell of a rise.

Fri, 04/08/2011 - 03:20 | 1148969 Ahmeexnal

Tell your client that Math Man can get it for $5 (that's what it costs to dig it out of the mines).

Fri, 04/08/2011 - 01:32 | 1148783 plata pura

$2.2588382916 is the total melt value for the 1942-1945 silver nickel on April 07, 2011.
$2.8699275892 is the total melt value for the 1946-1964 silver dime on April 07, 2011.

$7.1748193231 is the total melt value for the 1932-1964 silver quarter on April 07, 2011

14.3496387462 is the total melt value for the 1964 silver Kennedy half dollar on April 07, 2011. All values are conservative void of the premium.

Fri, 04/08/2011 - 02:14 | 1148857 Bay of Pigs

Thanks for keeping it real.

Fri, 04/08/2011 - 01:34 | 1148785 goldfeed

Dollar going down faster than Slv is going up.

Fri, 04/08/2011 - 01:33 | 1148787 baby_BLYTHE

Honestly at the very least (putting Hyper-Inflation to the side for a moment)

How can we, at the very least, not experience another 2008-esque event? This is all looking very familar, no?

Another 8 million jobs are about to get axed me thinks...

How can people not be in the streets? the Bernank has totally failed!

We are doomed!

Fri, 04/08/2011 - 01:37 | 1148794 chump666

2008 event? Absolutely? I am looking at a massive 20% 30% + correction

Fri, 04/08/2011 - 01:43 | 1148807 Dr. Porkchop

It's true. The write downs, bankruptcies and price discovery events that should have happened then were all dammed up in a toxic tailing pond with the dam being made out of what? More paper. The dam is leaking like hell. Thermodynamics is a bitch. Now it will be much worse, because the power elite wanted theirs, and yours too.

Fri, 04/08/2011 - 01:50 | 1148820 Bolweevil

Fed mandate: inflation, employment both of which are doing just fine
/sarc

Fri, 04/08/2011 - 02:33 | 1148895 slewie the pi-rat

interesting thoughts, b_B. as i recall, the "deflationary dip" included silver going from about 16 to 8 and gold dipping to 700's. much "unwinding" of yen carry, and so on.

there may be an equities sell-off, but now, according to tyler & others, the insiders are safely out. liquidity provided, and used! look out below?

the systemic risk/counterparty risk may also be spread more widely now, also.

finally, same flight to the dollar and US Treasuries? the yen is weakening. a few days ago, questions about the euro, which is now upped the interest rate and going strong. now, the USD looks weak. race to the bottom type stuff.

minus 8 million jobs? the private sector seems to have finally started hiring a few folks. the pressure on jobs seems to be on the goobermints, now. many austrian-type thinkers say yeah! get rid of about 8 million jobs, right there!

people in the streets? doing what?

interesting thoughts, b_B...

silver just went straight up to $40.15! that's enuf excitement for me!

Fri, 04/08/2011 - 02:45 | 1148922 Al Gorerhythm

Can't be done whilst the CFTC is all over this manipulation thingy. They'd never dare!!! The regulators would investigate them again... and again..... and again.

Fri, 04/08/2011 - 01:35 | 1148790 goldfeed

http://www.bloomberg.com/apps/quote?ticker=DXY:IND

Fri, 04/08/2011 - 01:38 | 1148795 Caviar Emptor

Somebody in the cartel defected to the silver side

Fri, 04/08/2011 - 07:52 | 1149220 Bicycle Repairman

At some point they all will (have?).

And that is good news.

Fri, 04/08/2011 - 01:39 | 1148799 SumSUN

Yes

And i am still buying. Bought some today, and i will buy some next week. 50, 60, doesn't matter much.

Drink a Beer !!!

Fri, 04/08/2011 - 01:40 | 1148800 dark pools of soros

time to buy a bigger safe for my silver.. should I buy one made out of gold?

Fri, 04/08/2011 - 01:46 | 1148809 SumSUN

Jamie Dimon Tarred and Feathered coming soon. And probably that bitch Blythe too. It is on.

Fri, 04/08/2011 - 01:49 | 1148816 QaplaSilver

Wow! 40$ silver wonder how long it will skim along the 40$ ceiling that appears to be in effect?

Fri, 04/08/2011 - 03:08 | 1148952 RmcAZ

Kitco showing a high of $40.19 already... maybe we will see $41 today.

Fri, 04/08/2011 - 05:00 | 1149034 Yen Cross

Missed you!

Fri, 04/08/2011 - 01:50 | 1148817 Neoisolationist

got a gun safe arriving tomorrow for purchases made over hte last 6 months or so. glad I did it. Just al ittle more and I'll be done.... Good luck everyone. I hope the consensus we're coming to on this thread proves to be incorrect.

Fri, 04/08/2011 - 01:54 | 1148824 SumSUN

Save that lead for Mr. Dimon, or someone of similar caliber.

Fri, 04/08/2011 - 02:09 | 1148850 Greybeard7

I also hope the consensus is incorrect.

Trying to learn from the Argentine peso collapse won't prepare us for a global fiat collapse.

Which, if any, fiat currency will survive? How will the global economic system operate?

Scary times and very few sign posts for guidance.

Fri, 04/08/2011 - 04:56 | 1149032 Stormdancer

All paper will burn...all of it. For a season, global trade will grind to a standstill. Nations that are unable to feed themselves from inside their own borders will suffer massively.

JP Morgan, Goldman Sachs and the Federal Reserve are not too big to fail. They are the Grande Sacrifice.

Once it is deemed that suffering has tenderized the masses, our "saviours" will ride in with a new global monetary regime.

Dimon and Blankefein will be astonished to find that they were not "insiders" at all...and never were.

The devil knows no loyalty.

Fri, 04/08/2011 - 01:57 | 1148825 US Uncut

Yes, consensus that this might be "it". Everyone wanted to make $$ on silver and now that it is here.....

Fri, 04/08/2011 - 01:57 | 1148827 capitallosses

Dang - my gold just isn't keeping up!

Fri, 04/08/2011 - 02:01 | 1148830 Selah

I'm sure a massive smack-down is in order for Gold and Silver tommorow, but it's nice to party for a while. We'll look back at this someday and smile.

Who has lost money on Gold or Silver as of now?

Only those that sold...

Fri, 04/08/2011 - 02:07 | 1148843 US Uncut

Why would there be? Gov't shutting down, dollar sliding, another nuke plant leaking.... nothing good or hopeful.

Fri, 04/08/2011 - 02:13 | 1148855 Selah

You forgot a new endless war.

Mmmm... Everything looks bullish for equities!

Fri, 04/08/2011 - 02:05 | 1148835 bothsidesnow

Silver and Blue Jeans Inflation Correlation

http://thesheepletimes.com

Fri, 04/08/2011 - 02:11 | 1148848 Ecoman11

Canada: No government

USA: No government

All we need is Mexico next and 'The North American Union' shall be born!

Fri, 04/08/2011 - 02:58 | 1148940 Dardan

Fuck that. That is not a world I want for my children.

Fri, 04/08/2011 - 03:22 | 1148970 Ahmeexnal

You should have insisted on him wearing a condom.

Fri, 04/08/2011 - 05:59 | 1149079 TerraHertz

You can't imagine how much I wish Australia had no government. Our present Illuminati puppetess is insufferable.

Fri, 04/08/2011 - 02:18 | 1148863 Ahmeexnal

Nicely done. I bought some more AG earlier today.

I'll get some more tomorrow too.

Fri, 04/08/2011 - 02:21 | 1148872 savagegoose

how am i richer, i had 10kg of silver an 10 oz of gold, i still have 10kg of silver and 10 oz of gold. i aint made a penny.

Fri, 04/08/2011 - 02:26 | 1148882 Selah

It's relative.

You are "not poorer" like those who hold only paper slips and electronic ledger entries...

Fri, 04/08/2011 - 02:32 | 1148892 savagegoose

heheh i was actually thinking how i can argue with the tax man

Fri, 04/08/2011 - 04:08 | 1148995 Harlequin001

savagegoose, you are a lot poorer. If you had 10oz of gold at $1,000 and it pops by a multiple of 10 you now have a $9,000 gain which is taxable.

Even buying pm's can't save you, if you have a 40% tax bracket you need to liquidate 3.6oz of gold to settle your tax. Ergo you now only have 6.4 oz of gold left.

Fri, 04/08/2011 - 08:07 | 1149261 savagegoose

not if the dollar you are counting in lost 10 times its value.

Fri, 04/08/2011 - 02:24 | 1148879 TexDenim

This will not end well.

Fri, 04/08/2011 - 02:36 | 1148901 bothsidesnow

Dimon the phone with Odumma and Boner right now.

Dimon: Ok Dumma we played the sheeple long enough plus Blythe is not to happy she tells me I have to use the big one on you guys this time and I know your ass is still sore from Hammerin Hank. Odumma: Ok, Ok Jamie I will call the dogs off and get this done. Boner: No way I wan't to talk to Blankfein he learned from the master. Dimon: Blankfein is Blythe's bitch.

Nice avatar ;)

Fri, 04/08/2011 - 04:21 | 1149004 Al Gorerhythm

Your avatar proved him incorrect.

Fri, 04/08/2011 - 02:30 | 1148886 Kyle Reese

Does anyone think we will see a sell off tomorrow morning when the US markets open? Maybe down to 38? I had some FRNs stashed to buy a truck to haul junk around and do work around the house.

Fri, 04/08/2011 - 02:32 | 1148894 chump666

the dumb ass Japanese have narrowed the CDS market (pre quake levels)...this is pure comedy

Fri, 04/08/2011 - 02:36 | 1148900 Selah

Kabuki comedy...

Fri, 04/08/2011 - 02:36 | 1148899 Hot Piece of Bass

In related news... the dollar got hammered by the mighty Mexican peso today.

http://www.xe.com/currencycharts/?from=USD&to=MXN

Is there a cocaine index?

Fri, 04/08/2011 - 02:39 | 1148909 bothsidesnow

It's been geetting hammered by the Peso all week.

Fri, 04/08/2011 - 03:05 | 1148949 Hot Piece of Bass

Indeed. Sad thing is that I'm going down there in May. Couple friends asked me to bring a few things, said they'd pay me back in dollars.

I told 'em I'd rather have pesos.

It felt weird just to say.

Fri, 04/08/2011 - 02:37 | 1148904 The Navigator

You've come a long way baby - from $10 in 2007 when I first got to know you, to 2010 when I bought 200 more ounces of you at $26 with much trepidation - and my weekly purchases of 20 ounces since then - you did me good.

Thanks Mogambo Guru for the insight that started me on this path early in 2006 and to the ZHer's that gave me confidence since then that inflation wasn't a crazy idea.

Fri, 04/08/2011 - 05:28 | 1149051 Broder_Tuck

haha, I was also lured into this by mr Mogambo around that time! He deserves some credit for having a language that is drastic enough to capture the complete insanity of this dying paradigm.

Fri, 04/08/2011 - 02:37 | 1148908 chump666

AUD at 1.06 gonna be historic..

Fri, 04/08/2011 - 05:47 | 1149071 Stormdancer

It's freakin' me out at 1.05!

Fri, 04/08/2011 - 02:39 | 1148913 bonin006

Kitko had spot at 40.13 at 2:26 NY time, haven't been able to update since then (15 minutes now). Anyone else getting a newer quote?

Fri, 04/08/2011 - 02:47 | 1148925 bothsidesnow

Bid 40.10 real time on Forex account.

Fri, 04/08/2011 - 02:55 | 1148932 chump666

close bid 14.13

US open should send it upward.

Fri, 04/08/2011 - 03:32 | 1148976 Glass Steagall

And sell it, when? Common guys, ur playing an asset preservation game here. Nothing more. So quit counting the ticks – this shit is going to around 250.00 an ounce before the wheels come off so stop pretending you are investment guru’s. I’m glad ur into metals now. Good for you. But the fat lady is still having breakfast.

Fri, 04/08/2011 - 04:27 | 1149010 obelisks

But i think people like Max Keisser are getting

much more satisfaction from believing that at $47

JP Morgue will hit the wall ?

Fri, 04/08/2011 - 02:50 | 1148929 Kyle Reese

Kitco is slow right now. I got 40.16 @ 11:51 PST

Fri, 04/08/2011 - 02:54 | 1148934 bothsidesnow

Buy price in real time on Forex account.

Fri, 04/08/2011 - 02:55 | 1148937 chump666

is bid right into EZ open...and US open. record highs on shutdown fears

Fri, 04/08/2011 - 02:54 | 1148935 mt paul

an 8 bagger

honorable hedge bytches...

Fri, 04/08/2011 - 02:58 | 1148939 ebworthen

Free Gub'mint cellphone here: https://www.safelinkwireless.com/EnrollmentPublic/program_info.aspx

That's right, it's a right!

Fri, 04/08/2011 - 03:26 | 1148974 Ahmeexnal

You have the right to be tracked 24/7 by your government.

Fri, 04/08/2011 - 08:00 | 1149239 Bicycle Repairman

I see people who clearly do not have two nickels to rub together yakking into their cellphones all night and all day. Now I know why. A bailout of telecom, perhaps?

Fri, 04/08/2011 - 03:16 | 1148961 docj

Hey Benron - how does it feel to be so incredibly full of fail?

Fri, 04/08/2011 - 03:45 | 1148984 mee-mee-mee

I love you Tyler.....had to say it.

Fri, 04/08/2011 - 03:54 | 1148987 onarga74

Any word on how the folks at JPM are doing? I saw a couple of places this afternoon that many of the executives have come down with horrendous diarrhea and that it was a chaotic 3 alarm event with sludge trucks sewer pumpers, ladders and helicopters. They're having a real good stretch here with their Pee Wee Herman money managament style. They'll come out of it with a new identity though...JP MoreGone

Fri, 04/08/2011 - 03:59 | 1148991 Glass Steagall

Sure. Hold your breath.

Fri, 04/08/2011 - 04:11 | 1148997 ivars

Have a look at whats coming next- a correction of 40% on silver. At level 42-45 USD, so VERY soon.Weeks or months. Possibly by FED bailing out JPM shorts.

The prediction chart for Silver 2011-2012 prices was made on March 13th. If I only had money to cover margins when fluctuations come, I would be earning money but sitting there VERY carefully. Now i will buy in June, for 25 USD. But look what happens in Q2 2012. Collapse of Fiat money system, rumors of return to Gold (or Silver) standard.

http://www.saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=40#p31020

http://www.saposjoint.net/Forum/download/file.php?id=2673

Fri, 04/08/2011 - 04:48 | 1149025 takeaction

I don't see this happening.

Fri, 04/08/2011 - 08:56 | 1149410 tmosley

The Fed bailing out shorts would cause the price to go up, not down. They already have no practical limit to the amount they can short. If they cover their shorts, the price explodes. If they fail to deliver silver, the price explodes. The only way to keep the price from exploding is bribing any and everyone that stands for delivery. Such a scheme is and will draw in huge numbers of people to the feeding trough, and the jig will be up before long.

There is nothing they can do at this point that they aren't already doing. Buy silver, crash the Fed.

Fri, 04/08/2011 - 04:47 | 1148998 ivars

http://www.saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=40#p31020

JPM short will be bailed out by FED, and that will cause a sharp, though temporary ( 1 year) correction in few weeks time at 42 -45 USD.

Such a bailout if ti happens will cast doubts into the viability (idea) of fiat money in general in the coming future.

Fri, 04/08/2011 - 05:24 | 1149048 Advoc8tr

That doesn't make sense. Fed covering massive quantity of shorts would push the price up not down? Are you saying that after that surge then it corrects?

$40.005

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