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...And $45

Tyler Durden's picture




 

From $44 to $45 in 13 hours. At this rate $46 in 6.5 hours. Thank you Chairsatan Benzebub.

 

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Wed, 04/20/2011 - 10:57 | 1188087 slow_roast
slow_roast's picture

Dragging gold higher by the scruff of the neck too!

Wed, 04/20/2011 - 11:26 | 1188259 spiral_eyes
spiral_eyes's picture

your god is made of paper, dr. bernanke

Wed, 04/20/2011 - 11:42 | 1188386 Dr. Richard Head
Dr. Richard Head's picture

The Federal Reserve it is explodin',
violence flarin', paper a loadin',
you're poor enough for debt with wages fallin’,
you don't believe in debt, what's that credit card you're totin',
and even New York City has derivatives floatin',
but you tell me over and over and over again my friend,
ah, you don't believe we're on with fiat destruction.

Wed, 04/20/2011 - 12:08 | 1188500 technovelist
technovelist's picture

+ Barry McGuire

Wed, 04/20/2011 - 18:56 | 1190357 Dyler Turden II Esq
Dyler Turden II Esq's picture

very good start, which stimulated this attempt:

M1 and M2, they are explodin',
The Fed's printing press, it is a smokin',
you're poor enough for food stamps, with prices risin',
you say "no blood for oil", but what's that SUV you're drivin'
while banksters and criminals, they are a thrivin'
and you tell meeeeeeeee, over and over and over again, my friend,
ah, you don't believe, we're on the eve of dollar destructionnnnnn.

Wed, 04/20/2011 - 11:33 | 1188330 writingsonthewall
writingsonthewall's picture

...except the economics of Friedman say that you can control the Economy by controlling the money supply - but the money supply has been expanded in order to stifle the out of control economy.

It's laughable that Americans don't want a depression - but they don't like the devaluation of their Dollar.

It's slightly contradictory don't you think? Called having your cake and eating it.

Friedman was wrong, he's trying to diagnose the cow's teething problem by looking at it's rear end. The money supply is a reflection of the economic situation - not the cause of the economic situation.

I presume this was simplified for comedy value.

Wed, 04/20/2011 - 18:18 | 1190221 nmewn
nmewn's picture

My, but you're a busy little six week old beaver.

I'm not sticking up for any monetarist...but Friedman never envisioned this suicidal scale of Bernanke "money creation", not "supply" to keep up with expansion...what we are witnessing is pure Fabian socialism brought to you by the J. Maynard Keynes University of Statists...Friedman was a lot of things but he was not a socialist and he was against even having a Federal Reserve to provide socialists with "funds", but that was a political fight, not a monetary one.

Check your vet first there Bucky...but the trick to diagnosing an animals malady is to recognize what kind of animal your dealing with first ;-)

Wed, 04/20/2011 - 13:47 | 1189010 rsi1
rsi1's picture

ZH Will you also monitor it with a post for every point it loses? or that will not be covered because its of course manipulation if it does?

Wed, 04/20/2011 - 14:38 | 1189288 Thadeous
Thadeous's picture

It's called correction and it's perfectly normal in any bull run.

Wed, 04/20/2011 - 15:43 | 1189595 rsi1
rsi1's picture

We shall see.

As soon as there is a Comex margin rate hike, I can see already the calls that it is all manipulation to bring the price down, while a hike is perfectly normal value of the contract goes up with the price...

Wed, 04/20/2011 - 17:15 | 1190003 Iam_Silverman
Iam_Silverman's picture

"As soon as there is a Comex margin rate hike, I can see already the calls that it is all manipulation to bring the price down, while a hike is perfectly normal value of the contract goes up with the price..."

Except, as far as I can tell, that hasn't worked to lower the price for more than just a few hours anyway.

I do understand what you are saying, and I am sure that there are those here that appreciate your call of irrational exuberance in the PM pits.

Wed, 04/20/2011 - 16:09 | 1189714 Chuck Walla
Chuck Walla's picture

The Benron - PBoC call is seriously funny!

Wed, 04/20/2011 - 11:16 | 1188201 DoChenRollingBearing
DoChenRollingBearing's picture

I guess I can wait a few more days before I exchange some silver for gold.

But, at some point I will.

Although I am now off to read the Sprott post re GSR to single digits.

Wed, 04/20/2011 - 11:19 | 1188216 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Do what you like.

Wed, 04/20/2011 - 11:29 | 1188287 tekhneek
tekhneek's picture

LOL.

Exchange your gold for silver before the ratio drops another 20 points. Don't be a dork.

Wed, 04/20/2011 - 11:54 | 1188436 Smu the Wonderhorse
Smu the Wonderhorse's picture

Silver going stratospheric.  Jim Rogers is standing behind me whispering, "Remember thou art mortal."

Wed, 04/20/2011 - 13:22 | 1188882 fuu
fuu's picture

That was a pretty fast -$1.20.

Wed, 04/20/2011 - 17:36 | 1190074 Treeplanter
Treeplanter's picture

The usual suspects are busy shorting the miners.  Incredible lack of movement up.  Lot higher when it ran up to near 41.

Wed, 04/20/2011 - 11:59 | 1188444 Smu the Wonderhorse
Smu the Wonderhorse's picture

Urp.

Wed, 04/20/2011 - 11:28 | 1188285 Don Birnam
Don Birnam's picture

...In addition, the red-headed coinage stepchild: copper is modestly higher.

Wed, 04/20/2011 - 12:44 | 1188682 mick_richfield
mick_richfield's picture

How does one invest in ( ahem ... modest quantities of ) base metals ?

I have seen copper ingots or bags of copper pennies for sale.  I wish I could find ingots of nickel or tin ... but it seems like they are not out there.

Wed, 04/20/2011 - 13:56 | 1189050 tmosley
tmosley's picture

Open a scrap yard.

Seriously, any other method is just a way to get ripped off.  Shipping is too much on that crap.

Wed, 04/20/2011 - 16:12 | 1189743 Chuck Walla
Chuck Walla's picture

Find an empty house, preferably a BofA foreclosure. Look for wiring and water lines. Bingo! Instant wealth! The American Dream.

Wed, 04/20/2011 - 13:31 | 1188931 BrobamaReds
BrobamaReds's picture

QEEEEEEEEEEEEEEEE!   Here, Pig, Pig, Pig, Pig.......

Wed, 04/20/2011 - 15:07 | 1189422 Tail Dogging The Wag
Tail Dogging The Wag's picture

I went to bed with $44 and woke up with $45

Talk about serial one-night-stands!

 

Wed, 04/20/2011 - 10:57 | 1188091 Cinfultreat
Cinfultreat's picture

aaaaaannnnnndddd it's GONE!

Wed, 04/20/2011 - 11:00 | 1188112 Cash_is_Trash
Cash_is_Trash's picture

The 3X inverse Silver ETF (that Robo has his nest egg in) will do that to ya

Wed, 04/20/2011 - 11:22 | 1188235 Robot Traders Mom
Robot Traders Mom's picture

Robot Fucktard has no money. Nothing. He is a kid.

Wed, 04/20/2011 - 11:04 | 1188125 Dagny Taggart
Dagny Taggart's picture

...and it's back. 45.13

Wed, 04/20/2011 - 11:15 | 1188207 gmrpeabody
gmrpeabody's picture

Too funny... classic!

Wed, 04/20/2011 - 11:15 | 1188208 OpenEyes
OpenEyes's picture

Alas, $44, we hardly knew thee

Wed, 04/20/2011 - 11:15 | 1188197 ArgentDawn
ArgentDawn's picture

South Park vs Cafe Del Mar (Johannes Dahlberg Financial Crisis Mash)

 

http://www.youtube.com/watch?v=4TlPo0yCSa4

Wed, 04/20/2011 - 11:39 | 1188354 Matxeu
Matxeu's picture

'this line is for bank members only'

Wed, 04/20/2011 - 13:53 | 1189036 Temporalist
Temporalist's picture

I just linked that video again...didn't see your post.

Wed, 04/20/2011 - 10:58 | 1188096 Doc
Doc's picture

Up up and away bitches!

Wed, 04/20/2011 - 10:58 | 1188098 bob_dabolina
bob_dabolina's picture

Time to hike margin requirements....again

Wed, 04/20/2011 - 11:00 | 1188099 Double down
Double down's picture

I almost had a heart attack yesterday.  The PSLV has a premium north of 25%!

Wed, 04/20/2011 - 11:38 | 1188305 Mark McGoldrick
Mark McGoldrick's picture

Yep.  Sprott is a smart guy, and he knows that silver worshippers are like evangelicals - you can tell them anything and they'll usually believe it if it fits within their rigid ideologies.  The most extreme example of this is the "price doesn't matter" bullshit. Imagine selling a product to a group of lunatics, and you've convinced them the price doesn't matter.  Amazing! 

Through conspiracy theories and hyperbolic press releases, he's convinced all the silver goons to pay 25% premiums for his fund - while, at the same time, filing to sell all of his shares (page 113):

http://www.sec.gov/Archives/edgar/data/1494728/000104746911001913/a22025...

*LOL*

 

 

 

Wed, 04/20/2011 - 12:28 | 1188576 Bay of Pigs
Bay of Pigs's picture

Sorry your short positions aren't working out for you.

LMAO.

Wed, 04/20/2011 - 13:56 | 1189052 Temporalist
Temporalist's picture

Holy shit who is more rigid and dogmatic than you?  If you need an answer it's because you're as dense as you are convinced of your own blind beliefs.

Wed, 04/20/2011 - 17:28 | 1190049 ColonelCooper
ColonelCooper's picture

Better zip up your fly, I see a school girl coming.

Wed, 04/20/2011 - 11:02 | 1188110 NOTW777
NOTW777's picture

thank you very much

Wed, 04/20/2011 - 11:03 | 1188115 TruthInSunshine
TruthInSunshine's picture

The proper context by which to comment is one of tragedy.

Bernanke is either a) wholly incompetent or b) criminally motivated. Either answer should put the fear of God in every American.

Most every bubble now being produced via his actions will soon become a new crisis for entire classes of citizens and investors.

Ask your friends and neighbors one simple question if they are confused about the events of today:

Why does the U.S. Government borrow money from a private bank, known as The Federal Reserve Bank, and pay it interest on the money borrowed?

Wed, 04/20/2011 - 11:21 | 1188232 Arkadaba
Arkadaba's picture

Most important and unasked question.

Wed, 04/20/2011 - 12:05 | 1188488 MachoMan
MachoMan's picture

If the U.S. is going to backstop the banking system, then it makes no sense for it to pay interest to the banking system...  if the banking system was truly independent (read: not a welfare queen), then I could at least entertain the possibility of an argument in favor of paying the interest...  but at this juncture, it makes no sense...  nor can it given any prospective life gained by the banking system was the direct result of the government's (read: taxpayers') backstop.

Wed, 04/20/2011 - 12:23 | 1188562 TruthInSunshine
TruthInSunshine's picture

 But, do we print our currency in the United States?

That's not as simple a question as it may appear at face value.

If we do, why do we need to borrow it from a private bank and pay interest upon the loans?

If we don't, what does that imply?

Wed, 04/20/2011 - 16:48 | 1189887 MachoMan
MachoMan's picture

If we don't that implies we have the world's reserve currency...

And we need an independent banking system to help eliminate political machinations from control of the money supply...  the problem of course, is that like virtually all predominant economic theory, it works on paper and amonst the other assholes to agree to hold all other assumptions equal, but fails miserably in the real world.

Wed, 04/20/2011 - 12:10 | 1188502 A Man without Q...
A Man without Qualities's picture

"Bernanke is either a) wholly incompetent or b) criminally motivated."

I know most people on this site tend to go for option b, I think it's a bit of a, plus some Stockholm Syndrome for good measure.  Bernanke is not a confident guy and seeks approval from those around for support.  The banks have got him boxed into the corner, all the while telling him QE was good, QE would help the recovery, don't worry about a bit of transient inflation, sell some puts, nobody will dare fight you, the Fed.  

Now, he's probably too busy fighting the daily fires to think about how we got to this position, but make no mistakes, the Fed has been the architect of its own demise as they have turned themselves into the supreme bad bank and the currency is starting to show the strain. 

Wed, 04/20/2011 - 14:09 | 1189099 Temporalist
Temporalist's picture

I have heard Bernanke referred to as a "boyscout" so maybe he's been touched by his "leaders."

Wed, 04/20/2011 - 11:00 | 1188117 NOTW777
NOTW777's picture

expiration should be interesting - wheres 40 now

Wed, 04/20/2011 - 11:13 | 1188179 Dr. Richard Head
Dr. Richard Head's picture

Hell, I was just waiting for the drop to $26 from $40 that was being heralded by the trolls. 

Wed, 04/20/2011 - 12:13 | 1188512 MachoMan
MachoMan's picture

Not only the trolls but those hoping to back the truck up...

Wed, 04/20/2011 - 11:04 | 1188118 PierreLegrand
PierreLegrand's picture

Just remember kiddies that owning silver isn't the only thing you need to do before TEOTWAWKI...

Stuff To Consider When Planning For SHTF Scenarios
Wed, 04/20/2011 - 11:27 | 1188268 DoChenRollingBearing
DoChenRollingBearing's picture

Pierre!  Bravo for your link and site.

I highly recommend this to fellow-minded ZH-ers.

+ $1500

Wed, 04/20/2011 - 11:42 | 1188389 Hook Line and S...
Hook Line and Sphincter's picture

DCRB, 

Could you go and check out the reply I sent you in the Jim Rogers article re FOFOA. Would like your feedback.

by Hook Line and S... 
on Wed, 04/20/2011 - 02:06
#1187084

Wed, 04/20/2011 - 16:57 | 1189905 DoChenRollingBearing
DoChenRollingBearing's picture

HL&S, your post was densly packed!  Yes, FOFOA has written that hyperinflation is when the .gov os forced to print more and more money to cover the revuslion people have for it in the hyperinflationary environment.

I hope this comes through, it is part of my email to him on hoarding and below his response to me.  My note ends with the LOL.  His response starts in the next paragraph.  Sorry for the bad formatting, I tried this as a cut & paste of gmail....

 

ZH just put up a post re Jimmy Rogers worried about a silver parabolic going bad.  Not yet, but maybe soon.  May be worth a look! I think more each day about the morality of hoarding things industry needs (and so help create a shortage).  It will be HARD for me to give up my platinum though.   Make industry PAY FOR IT by being too JIT perhaps!   Just in time may affect us in Peru re Asian bearings.  If there is any cut in Japanese supply, that will put additional pressure on Korean supplies, now very tight.  We are having a HARD time getting Korean bearings (Hyundai is sucking up all their production because they are kicking ass all over the world), so my feelings to "industry" are not so warm and fuzzy right now...  Maybe instead I should stick it to them by buying chromium big time?  Chromium is essential for 52100 (bearing type) steel.  LOL...
I know a lot of the commenters are focusing on the morality issue.  But I don't view it as such, and neither does the Superorganism.  The Superorganism holds no morals.  If sticking it to industry would bring the greatest profits, then that's what I would do.    So the point is not the morality.  The point is that this is why gold is, and always has been the focal point of the Superorganism.  The Superorganism is a thousand times smarter than you and me.  See my Life in the Antfarm post.  And it picks gold, not because it is the moral choice, but because sticking it to industry always fails to bring the greatest profit in the end.  It is a self-limiting strategy.  It is always fought by the hungry collective once it becomes profitable.  It (commodity corners) always fail and end in tears for these reasons.    This is why we will have Freegold and not Freesilver.  Not because it is moral.  But because it makes practical sense.  If you save in that which also is inputs to what you buy, then you are shooting yourself in the foot.  Saving in commodity inputs to industry causes inflation which lowers the demand for the final products which ultimately lowers the demand for the inputs you saved.  The Super-smart Superorganism understands this, and it has nothing to do with morality.  It has to do with profit!!!!

 

Wed, 04/20/2011 - 11:52 | 1188422 gmrpeabody
gmrpeabody's picture

+1505

Good read!

Wed, 04/20/2011 - 12:24 | 1188565 stuman
stuman's picture

Thank you for the link, very good/solid and helpful advice and observations!

Warm Regards

 

 

 

Wed, 04/20/2011 - 11:07 | 1188120 tallen
tallen's picture

I'm surprised they've not upped margin requirements yet.

Crimex + JPMorgue must be hurting! Blythe probably at the point of spontaneous combustion

$46 by tomorrow? ;)

Wed, 04/20/2011 - 11:04 | 1188121 SheepDog-One
SheepDog-One's picture

Silver and gold officially have replaced the USD as world reserve currency! $46 in T-5 hours.

Wed, 04/20/2011 - 11:03 | 1188123 Chippewa Partners
Chippewa Partners's picture

Tyler Durden:  Where can we send some physical for all you have done to increase our net worth?   This site is priceless.

Wed, 04/20/2011 - 11:23 | 1188258 slewie the pi-rat
slewie the pi-rat's picture

slewie will help tyler, here.  just send it to me!  i'll keep it with my chaplain's decretionary fund, ok tyler?

here's the delivery data from yest.  DJ Comex Silver Delivery Intentions Breakdown - Apr 19

Wed, 04/20/2011 - 11:04 | 1188124 fuu
fuu's picture

$44.24/45.09=.98114

 

Just Plunge Morons!

Wed, 04/20/2011 - 11:33 | 1188323 tekhneek
tekhneek's picture

I don't get it... 15/20=.75 ROCK ON!

Wed, 04/20/2011 - 11:01 | 1188126 lieutenantjohnchard
lieutenantjohnchard's picture

where's that cat who told us silver would be at $20(?) by june 1?

Wed, 04/20/2011 - 11:06 | 1188135 Sudden Debt
Sudden Debt's picture

and he promised to show up on a daily basis...

 

Wed, 04/20/2011 - 11:09 | 1188154 lieutenantjohnchard
lieutenantjohnchard's picture

good point. i guess it depends on how one defines "daily." lol.

Wed, 04/20/2011 - 11:28 | 1188294 oddjob
oddjob's picture

He knows what daily is,cuz he beats it daily.

Wed, 04/20/2011 - 11:24 | 1188265 Pool Shark
Pool Shark's picture

 

"where's that cat who told us silver would be at $20(?) by june 1?"

It was Math Man ("MethMan" to us ZHers).

He has been conspicuously absent since his $20 proclamations last week.

I suspect his parents took his computer away and grounded him for spring break...

 

Wed, 04/20/2011 - 13:33 | 1188869 akak
akak's picture

".... only $5 to dig it from the ground ....

..... only $5 to dig it from the ground .....

..... only $5 to dig it from the ground .....

..... only $5 to dig it from the ground .....

..... only $5 to dig it from the ground .....

....... must ....... eat  ....... brains ........."

Wed, 04/20/2011 - 11:02 | 1188130 truont
truont's picture

Benzebub!  LOL

Wed, 04/20/2011 - 11:02 | 1188131 Dangertime
Dangertime's picture

Look at the bagholders lining right up!!!!  Better hand off your bag while you can.

Wed, 04/20/2011 - 11:08 | 1188148 SheepDog-One
SheepDog-One's picture

Wow it must be painful for ya!

Wed, 04/20/2011 - 11:13 | 1188185 Dangertime
Dangertime's picture

This is why we dollar cost average.....Now I have 33's, 37's and 40's.  It's going to be a fun ride down.  But first, let's hit 46 today!

Wed, 04/20/2011 - 11:17 | 1188222 SheepDog-One
SheepDog-One's picture

So youre counting on a miracle of the USD Fiatsco note suddenly regaining high confidence as a currency? Wow kooky bet you got there, good luck!

Wed, 04/20/2011 - 11:19 | 1188229 Dangertime
Dangertime's picture

USD does not need to gain high confidence for a silver parabola to fail.

Wed, 04/20/2011 - 11:28 | 1188278 Vendetta
Vendetta's picture

true, serious interventions by the cartel are always possible.  However rebounds from the interventions are quite spectacular .. witness November 2008 to now.

Wed, 04/20/2011 - 11:28 | 1188293 Dangertime
Dangertime's picture

I am a mercenary.  I am more than happy to switch camps when the time warrants.

Wed, 04/20/2011 - 11:37 | 1188347 SheepDog-One
SheepDog-One's picture

Go ahead, raise rates to 20% from present 0%, I'd love to see it!

Wed, 04/20/2011 - 11:27 | 1188284 Pool Shark
Pool Shark's picture

 

Oh, okay. So you see Ben ("Volcker") Bernanke raising the fed funds rate to 20% to crash gold and silver, just like 1981?

Good luck with that...

 

Wed, 04/20/2011 - 11:37 | 1188338 tekhneek
tekhneek's picture

He keeps forgetting, there's no inflation -- and people don't want to buy gold and silver. People want to buy stocks.

Wed, 04/20/2011 - 11:29 | 1188306 SheepDog-One
SheepDog-One's picture

Oh really? Expand please.

Wed, 04/20/2011 - 11:35 | 1188326 Dangertime
Dangertime's picture

This run in silver is demand driven.  When the demand dries up, which it will very quickly now, the floor will give way.

Any upward movements in the USD will be icing on the cake.

Wed, 04/20/2011 - 11:38 | 1188345 tekhneek
tekhneek's picture

Well then praise God for that if ... and I do mean if you're right. I'll get the opportunity to buy that much more with my shitty paper.

Wed, 04/20/2011 - 11:40 | 1188355 Dangertime
Dangertime's picture

And so will I.

Wed, 04/20/2011 - 17:02 | 1189959 tmosley
tmosley's picture

No, you'll be splattered all over the pavement from your shorts.

Wed, 04/20/2011 - 11:39 | 1188361 SheepDog-One
SheepDog-One's picture

Ive been hearing that the demand is quite weak since silver was $15 a couple years ago. Tell me another tale.

Wed, 04/20/2011 - 11:45 | 1188392 Dangertime
Dangertime's picture

I have been both short and long since then.  If you take a close look at a chart, you will see silver moves in two directions.

You know what the cure for high silver prices are?  High silver prices.

Wed, 04/20/2011 - 11:52 | 1188420 SheepDog-One
SheepDog-One's picture

Very convenient being able to say youre both long and short, no doubt also correct and maximum profit too each day no matter what happens.

Gee is this Robotrader in disguise?

Wed, 04/20/2011 - 13:15 | 1188430 Dangertime
Dangertime's picture

Don't worry, I'll let you know when I get bullish again.

Why don't you share your buying price?  I've been kind enough to share mine.

Wed, 04/20/2011 - 17:05 | 1189965 tmosley
tmosley's picture

You share lies, you snake.

Get out.

Wed, 04/20/2011 - 14:12 | 1188913 akak
akak's picture

Gee is this Robotrader in disguise?

Sheepdog, don't you know that Dangerfield bought ALL of his gold and silver at the very bottom of the market back in 2001, as he claimed in another post? 

 

by Dangertime
on Sat, 04/16/2011 - 10:27
#1175694

 

I beat you, my coins were at $265 and my silver is only 100 oz bars at $4.75.

But if you are a holder of physical than I cannot disagree with you as I am doing the same.

Paper is easy and cheap to trade.  Physical is a whole different ballgame.

http://www.zerohedge.com/article/429913-sticksave#comment-1175694

 

Yep, this is one sharp Nostradumbass in our midst!

Wed, 04/20/2011 - 17:16 | 1190011 tmosley
tmosley's picture

He outed himself as a liar with those prices.  He claims to have timed gold LITERALLY PERFECTLY, as the market was only below $265 for 13 trading days in late October/early November.  He claims to have bought silver a year later, and here he claims he bought at  $4.75.  It was in that trading range for 4 trading day in 2001, and that in January--hardly a year.  

It was, however, in that same range in 2001.  He thus first claimed to have bought them at the same time, then later noticed that silver was lower in 2001, so claimed to have bought then.

Fucking outed.

Wed, 04/20/2011 - 17:33 | 1190068 akak
akak's picture

Somebody stick a fork in that troll Dangerfield --- he's done.

Wed, 04/20/2011 - 17:41 | 1190091 ColonelCooper
ColonelCooper's picture

It's amazing how stupid these douchebags are.  They always manage to pick the LOWEST lows to have bought, and the HIGHEST highs to claim they sold before a correction. 

Tommy Flanagan has nothin' on these fuckers.

Wed, 04/20/2011 - 11:12 | 1188176 Hephasteus
Hephasteus's picture

Bagholder's? Oh we already centralized those into a banking system and corrupt government systems. The bagholder of last resort.

Wed, 04/20/2011 - 11:16 | 1188213 Dangertime
Dangertime's picture

There is no doubt that the taxpayer is the true bagholder.  So much for freedom.

Wed, 04/20/2011 - 11:58 | 1188458 Hook Line and S...
Hook Line and Sphincter's picture

The taxpaper only appears to be the lone bagholder. In reality, those who pay AND those who do not pay taxes are the real bagholders through devaluation. In a satchel... because of our lack of confidence in FRN's and shrinking purchasing power we buy Au and Ag, which devalue the dollar by its historical associations, which cause increase flow into PM's, devalue the currency, cause increase flow into PM's...

feedback loop bitchez!

FRN's converted into PM's speed the process at each step.

The act of buying PM's makes you an EOTS unless the PTB actually has the AU they purport to have squirreled away.

Wed, 04/20/2011 - 11:13 | 1188182 Burnbright
Burnbright's picture

I am curious danger, at what point do you change your mind? Cause this price action to me is just the fact that the comex is doing everything it can to not default. 

Wed, 04/20/2011 - 11:16 | 1188198 Dangertime
Dangertime's picture

Well on the weekly charts we have a parabola.  If I see the parabola violate without a significant correction, then I will probably close my puts for a loss.

Another variable is the status of the SPX.  If I see that violate the double top then I will likely close out.  If the SPX makes new highs then silver likely will too.  But if the SPX starts falling, look out.

Wed, 04/20/2011 - 14:21 | 1189172 Temporalist
Temporalist's picture

To be fair Dangertime you state your mind and don't back down and I have no idea if you're being honest about your buy-in or your long/short trading; but what do you get from coming to ZH then?  You don't agree with anyone and just want to spout your "massive success" similar to the trolls that do the same. 

Have you ever been wrong?  Did you expect silver to break $40 even?  If so what was your reasoning then?  I ask because those fundamentals haven't changed.

I hope you lose out bigtime on the shorts not because I have any emotional attachment to silver or feelings about you but because it confirms my beliefs and they've been right for years now so...bad luck to you.

Wed, 04/20/2011 - 11:07 | 1188133 Sudden Debt
Sudden Debt's picture

I admit... I SEE TRENDLINES FORMING!!

 

 

Wed, 04/20/2011 - 14:24 | 1189188 Temporalist
Temporalist's picture

Those are food lines...

Wed, 04/20/2011 - 11:03 | 1188134 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Since he can dig the stuff out of the ground for $5, Mathman must be getting rich beyond our wildest dreams.  

 

If anyone else can give a plausible explanation for his absence, I'd like to hear it.

 

Wed, 04/20/2011 - 11:21 | 1188226 I Am The Unknow...
I Am The Unknown Comic's picture

good old-fashined shame?  Nah, not him...

Wed, 04/20/2011 - 11:06 | 1188136 tslv50
tslv50's picture

Sweet, I feel middle class again.

Wed, 04/20/2011 - 11:10 | 1188180 Magnix
Magnix's picture

INDEED!!

Wed, 04/20/2011 - 11:16 | 1188214 Long-John-Silver
Long-John-Silver's picture

I'm beginning to feel like a millionaire

Wed, 04/20/2011 - 11:09 | 1188139 BrobamaReds
BrobamaReds's picture

I've been buying 100 oz Engelhard Bars off of ebay for years - even had to build a vault - really paying off now!!!!

I know what you're thinking, don't even think about it .  I have a moat stocked with snapping turtles, a barbedwire fence, an alarm system with motion and cameras and of course guns and ammo...... don't make me bring out the gimp.

Wed, 04/20/2011 - 11:38 | 1188358 tekhneek
tekhneek's picture

Release the Kraken...

Wed, 04/20/2011 - 11:47 | 1188401 Arkadaba
Arkadaba's picture

+lol

Wed, 04/20/2011 - 14:23 | 1189199 Temporalist
Temporalist's picture

So you have noticed that you can longer get at or near spot for the past year and more correct? 

Wed, 04/20/2011 - 11:05 | 1188142 lieutenantjohnchard
lieutenantjohnchard's picture

looks like i picked the wrong day to give up celebrating a new silver high with a 16 oz rare texas strip, potato all the way, creamed spinach and apple pie a la mode.

i won't forget the cab either.

we few, we happy few, we band of silver holders.

Wed, 04/20/2011 - 11:09 | 1188170 Cash_is_Trash
Cash_is_Trash's picture

Please use fine silverware.

Wed, 04/20/2011 - 11:15 | 1188194 lieutenantjohnchard
lieutenantjohnchard's picture

for you i will. i'll bring out the fine silver that collects dust in silver cabinet. i'll even hold out my pinkie for emphasis when using my fork.

Wed, 04/20/2011 - 12:37 | 1188614 Bay of Pigs
Bay of Pigs's picture

The Phelps Napa cab was sensational last night...LOL.

 

Wed, 04/20/2011 - 11:05 | 1188143 Hephasteus
Hephasteus's picture

I'm sure glad zerohedge had all those trolls come through here week after week month after month warning us of this horrible events we are witnessing. And keeping us from going broke.

Wed, 04/20/2011 - 13:41 | 1188962 akak
akak's picture

It's out of pure altruism that they do it, too.

They are only trying to save us from ourselves --- after all, it is only our unbridled greed, and certainly nothing on the part of the government or Fed or megabanks, that endangers our hard-fought wealth.  We merely need to realize that anonymous strangers, whose agenda just happens to coincide with those of the elite, truly do have our best interests at heart.

Wed, 04/20/2011 - 11:12 | 1188149 stitch-rock
stitch-rock's picture

So, is this bullish for silver?

I'm still on the fence...

 

 

...not

 

 

go silver!

Wed, 04/20/2011 - 11:07 | 1188151 tao400
tao400's picture

I was in and out of it in the 20s and 30s. I should have listened to Sprott and Rule and just held onto it.

Whatever happened to Goldman's call on oil. It's up over 110 now. When does that start to really affect the US economy (not that that matters to Wall Street. Cramer actually said a couple of weeks ago, who cares about the US consumer. This country has truly been sold down the river. Napoleon had it right when he said "money has no motherland. financiers are without patriotism and without decency. Their sole object is gain")

Wed, 04/20/2011 - 11:21 | 1188231 truont
truont's picture

Tyler had documented countless instances of Goldman telling their retail clients to do one thing, and then the market goes in the opposite direction.

This has been happening more often than one would expect.

Tyler theorizes that Goldman gets their retail clients to sell an asset so Goldman's real clients can buy, or vice versa.

Case in point, Goldman was telling their retail clients to buy CDOs and other "bags-o'-shit", while their prop desk was shorting those same CDOs.

"God's work" at its finest.

Wed, 04/20/2011 - 13:30 | 1188918 BrobamaReds
BrobamaReds's picture

Goldmen has retail clients?  How nice of them.

Wed, 04/20/2011 - 11:41 | 1188375 SMG
SMG's picture

I'm in a similar situation.  It sucks being wrong.  Trying to decide where to go from here.   I was going to buy a truckload back at $25 and I didn't, d'oh

Wed, 04/20/2011 - 12:30 | 1188582 dogbreath
dogbreath's picture

your problem is you think like a speculator.  Fear greed.  The metals are about wealth preservation.  Only the few here are making money,  most jus aren't losing any by being invested in say real estate. 

Wed, 04/20/2011 - 11:09 | 1188153 Reptil
Reptil's picture

finally some movement in euro - silver too...

Wed, 04/20/2011 - 11:07 | 1188156 dryam
dryam's picture

So what's up with the underperformance of the silver miners?  I've read it's from hedge fund shorting.  Sounds pretty fishy to me. 

Wed, 04/20/2011 - 11:11 | 1188187 jomama
jomama's picture

if it really was a bubble, everyone would be buying everything related to silver. they aren't, so there you go.

Wed, 04/20/2011 - 11:14 | 1188190 Re-Discovery
Re-Discovery's picture

Bolivian president said he might nationalize mines and it hurt some components of ETF.  But, you're right.  Several HF were/are short miners because they think spot Silver price is unsustainable (even though they are playing the long side in the short term.)  Lately, correlation with silver and miners has returned, and at current prices, miners are selling for low $30 spot silver.

Wed, 04/20/2011 - 12:28 | 1188574 HK
HK's picture

This may shed some light on your concern about the miners:

 

http://www.silverbearcafe.com/private/04.11/occam.html

 

 

Wed, 04/20/2011 - 17:30 | 1190055 IQ 145
IQ 145's picture

 The chinese are not buying US and Canadian mining stocks; they're buying silver. The qualified customer pool for these stocks is about 1/30th. the size of the customer pool for silver. There isn't any reason to own any stock; there never was.

Wed, 04/20/2011 - 11:10 | 1188157 Re-Discovery
Re-Discovery's picture

Damn, I'm still hungover from the "Silver" celebration I threw last night! (Had a few worthless fiats I wanted to spend while I still could.)

Wed, 04/20/2011 - 11:35 | 1188320 slewie the pi-rat
slewie the pi-rat's picture

i hear that!  i finished off a fresh pot of coffee, fired up the bong, and woke up about 3 hours later, with a zH reply still unfinished, before me!  i was partying in honor of a zero-frnd who has found his Silver Selfhood.  my only consolation is that he was prob face-down before slewie, last night, himself!

Wed, 04/20/2011 - 11:55 | 1188437 Jab Cross Hook
Jab Cross Hook's picture

Happy 4:20. Tonight, I'm going to sprinkle a little powdered silver-laced hash on a J, just for the antibacterial effects.  ;)

Wed, 04/20/2011 - 14:58 | 1189378 psychologicalmess
psychologicalmess's picture

i store my smokes in an antique sterling silver cigarette box.  one up.  

Wed, 04/20/2011 - 11:10 | 1188158 Trial of the Pyx
Trial of the Pyx's picture

So...can we call this parabolic now?

Wed, 04/20/2011 - 11:08 | 1188163 jomama
jomama's picture

not if the commodity was in backwardation to 55$?

Wed, 04/20/2011 - 11:39 | 1188369 DosZap
DosZap's picture

Well this MONEY is definitely in Backwardation again.

Goody Goody Gumdrops.

Wed, 04/20/2011 - 11:34 | 1188316 potatomafia
potatomafia's picture

Well, that depends on what chart you are looking at!!

 

On the 5 minute chart it doesnt look parabolic, yet... ;)

Wed, 04/20/2011 - 11:45 | 1188393 slewie the pi-rat
slewie the pi-rat's picture

here's a good chart:  Silver, 5000 oz (SI, COMEX): Weekly Price Chart

i call the upward channel "blythe's tunnel 0' love" and it looks like an escalator @ the World's Fair b/c it is an escalator at the World's Freaking Fiat Fair!

gold is getting bid and silver just keeps flying at the rate of 2X gold % gain.  this is as it should be.  peace, love, and dope.  amen. 

Wed, 04/20/2011 - 17:36 | 1190073 IQ 145
IQ 145's picture

 That's the chart alright; and it does have an exponential flavor to it.

Wed, 04/20/2011 - 11:08 | 1188161 SheepDog-One
SheepDog-One's picture

Jamie and Blythe huddled under the desk gripping each other desperately whispering 'Please Satan, make the bad man go away!'

Wed, 04/20/2011 - 11:21 | 1188228 Long-John-Silver
Long-John-Silver's picture

Satan then walks in the door and tells them it's time to fulfill the contract for their souls.

Wed, 04/20/2011 - 11:11 | 1188162 Drunvalo Melchizedek
Drunvalo Melchizedek's picture

Hey... where's the "$5 to get it out of the ground" guy?

Wed, 04/20/2011 - 11:14 | 1188191 Hephasteus
Hephasteus's picture

Looking for someone to loan him 5 dollars.

Wed, 04/20/2011 - 11:09 | 1188164 Just Observing
Just Observing's picture

I'm cheering silver on....but we might want to wonder about this kind of rocket.

Wed, 04/20/2011 - 11:14 | 1188186 SheepDog-One
SheepDog-One's picture

The rocket people should be worried about is bullshit equities, that thing will blow up like a MOAB one of these hours.

Wed, 04/20/2011 - 11:43 | 1188379 DosZap
DosZap's picture

SD, should we go long on MOABS?.

Wed, 04/20/2011 - 11:48 | 1188415 SheepDog-One
SheepDog-One's picture

A MOAB has over 100 oz of silver in it!

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