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And Like Clockwork, CME Hikes Silver Margins Halting Surge

Tyler Durden's picture


In tried and true fashion, just as Silver was about to viciously destabilize the global capital markets as it surged to new 31 year highs, the CME stepped in and did its usual 3-6 half life intervention by hiking initial and maintenance margins on silver futures from $11,138 and $8,250 to $11,745 and $8,700 respectively. This is merely the latest margin hike in what appears to be a neverneding series designed to reduce speculative "fervor" courtesy of endless liquidity. What it will do is merely provide a better entry point for those who by now realize that silver's next stop in the fiat endgame is $40, then $50, and so forth. Naturally, the price drop in silver caused gold to sell off too. And now that the CME accepts gold as collateral, we can't even visualize the reflexive loops that develop once the metal that is also a collateral currency becomes more and less valuable at the same time.

And while they are at it, the CME decided to remove some of the Uranium volatility by hiking maintenance and initial margins in Uranium Futures (UX) by about 50%.

From the CME:

This is what a coparable margin hike looked like in November.

This is certainly not the last margin increase - by the time this is all said and done, "speculators" will need to overfund cash positions to trade precious metals per executive directive.


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Thu, 03/24/2011 - 15:16 | 1096328 NOTW777
NOTW777's picture

thanks. need to reload

Thu, 03/24/2011 - 15:28 | 1096351 nope-1004
nope-1004's picture

JP Morgue has a new vault to falsify delivery and inventory data, CME hikes margin requirements, next it will be ICE repeating this broken record...... it's all in a days work if you're a white collar criminal-banker, a Cranker.

Another glorious buying opportunity for me.... ;)

Thu, 03/24/2011 - 15:30 | 1096401 Carl Spackler
Carl Spackler's picture

I see no problem with CME or ICE hiking margins on precious metal contracts.

The exchange has to manage its own credit risks.

Thu, 03/24/2011 - 15:35 | 1096415 cswjr
cswjr's picture

Uh huh.  Hiking margins during the trading day on a hugely up day when non-commercial specs are WAY long.  Lot's of credit risk there.  And the shorts have Fed cover.


Thu, 03/24/2011 - 15:49 | 1096480 Harlequin001
Harlequin001's picture

Once all the margins are gone it'll be dollar for dollar paper v silver.

No point buying paper, market dead.

bring it on!

Thu, 03/24/2011 - 15:55 | 1096508 long juan silver
long juan silver's picture

I like AGQ: 2X silver.

It's an exponential relationship.

Thu, 03/24/2011 - 16:04 | 1096538 Larry Darrell
Larry Darrell's picture

"No point buying paper, market dead."


I've felt this way for awhile now.


Also, I give this beatdown the same half-life of the radioactive Xe that is blanketing the planet.

In 5.5 days, we will be laughing at this, the EE's latest feeble attempt.

Thu, 03/24/2011 - 20:34 | 1097653 Xkwisetly Paneful
Xkwisetly Paneful's picture

It is hilarious that same folks who want full reserve banking cry abt margin increases.

Thu, 03/24/2011 - 16:09 | 1096584 Robot Traders Mom
Robot Traders Mom's picture

I agree with you about seeing no problem with hiking margins, that being said, it is strictly out of manipulation-not credit risk.

Why are people pissed off about this? If you are a believer in silver/gold, you should be happy that this shakes some of the speculators out that are artificially driving up the price and creates more of a true base.

I fucking hate the speculators that make my physical buying that much more expensive.

Also, pay no mind to the dipshits at the bottom of the comments that talk about buying and selling bars of physical palladium. They are unemployed and troll because they are socially inept in the real world (RobotDipshit)


Thu, 03/24/2011 - 16:34 | 1096759 mynhair
mynhair's picture


Thu, 03/24/2011 - 18:38 | 1097216 Imminent Crucible
Imminent Crucible's picture

None of this matters. This is what, the 4th margin hike? The Merc is doing us a favor; raising margin rates only drives out the weakest hands, the overleveraged speculators.

The net effect is to concentrate the long side in the strongest hands: Those who will take delivery in cash.

Comex silver default? Can't happen as long as settlements can be made in cash or shares of an exchange-traded silver fund.  But announcing that deliveries will be stopped with cash or SLV will drive the silver market into ferocious backwardation. The physical-to-paper premium will skyrocket.

Thu, 03/24/2011 - 20:39 | 1097679 Xkwisetly Paneful
Xkwisetly Paneful's picture

Right no credit risk while have folks posting here abt how they maxxed out credit cards to buy silver. One of the ultimate signs of a mania.

Fri, 03/25/2011 - 02:34 | 1098602 The Fonz
The Fonz's picture

Ironically and quite predicatably when the market changes old rules do too.  If you believe that the currency is going to be massively devalued borrowing fiat to get commodities makes perfect sence. At this point if I could borrow a million dollars at 25% interest with 5 year terms I would do so.

Thu, 03/24/2011 - 17:39 | 1097038 GubbermintWorker
GubbermintWorker's picture

 I bought the fucking dip!

Thu, 03/24/2011 - 17:48 | 1097074 gosseyn
gosseyn's picture

You mean: I bought the effing Top Reversal.  Uh oh.

Thu, 03/24/2011 - 17:57 | 1097088 gosseyn
gosseyn's picture

Totally agree.  Look at the percentage margin.  Now 6.3%.  In November same rate was ~7%.  Margin factor has stayed flat/declined a skosh despite mkt being up 35% since the November margin hike.  Editor at ZH needs to exercise some diligence.   I CALL BS on this article.

[Edit:  post refers to tht of Robot Traders Mom not Gubbermint]

Thu, 03/24/2011 - 16:30 | 1096736 gkidderman
gkidderman's picture

I agree totally .. this is the APPROPIRATE thing to to as an Exchange. In fact it is exactly what we have been railing against the Greenspan era of NOT DOING.  Can't have it both ways. ... well not unless you are TBTF. 


Thu, 03/24/2011 - 16:32 | 1096741 gkidderman
gkidderman's picture

I agree totally .. this is the APPROPIRATE thing to do as an Exchange. In fact it is exactly what we have been railing against the Greenspan era of NOT DOING.  Can't have it both ways. ... well not unless you are TBTF. 


Thu, 03/24/2011 - 16:33 | 1096745 gkidderman
gkidderman's picture

I agree totally .. this is the APPROPIRATE thing to do as an Exchange. In fact it is exactly what we have been railing against the Greenspan era of NOT DOING.  Can't have it both ways. ... well not unless you are TBTF. 


Thu, 03/24/2011 - 16:46 | 1096800 HoofHearted
HoofHearted's picture

There's no problem with raising margins. Just pick appropriate times to do so. Wait for the pits to close and do this after hours so everyone knows first thing tomorrow morning and can start planning. Even better, why not bury it at 5:15pm on a Friday? Oh, because it wouldn't have an effect then...I'm beginning to figure this whole game out...

Mon, 04/25/2011 - 16:27 | 1205103 bobby02
bobby02's picture

Amen. Margin requirements are actually way down, if you care to do the math. But then, the laws of mathematics should never stand in the way of a good conspiracy theory.


           Initial             Maintenance     Silver

3/24       11745                   8700             37.44

4/26       12825                    9500             47.22

Delta     +9.2%                   +9.2%          +26%

Thu, 03/24/2011 - 15:44 | 1096448 Mark McGoldrick
Mark McGoldrick's picture

Seeing JP Morgue reminds me of the December "Crash JP Morgue" celebrations at ZH.  It also makes me wonder why JPM is less than 10% from its 52-week high, and not too far from its 5-yr high (for those with math issues, that would include the 06/7 bubble years) in the face of this endless silver squeeze.  The six month chart is nearly straight up. 

I thought silver was going to bankrupt the Morgue? Everyone was frolicking and partying and toasting each other in this forum in December, as if some sort of victory was being celebrated. Instead, JPM trades like the squeeze doesn't matter, at all.  

To be blunt, this silver story has had NO effect on JPM. Zero effect.  I mean, NOTHING.  

Please advise. 

Thu, 03/24/2011 - 15:50 | 1096473 dryam
dryam's picture

Bernie Madoff's fund was worth $50 billion one day & $0 the next.  The word Enron also comes to mind.  Some folks are very talented players of the shell game.  That plus a lot of backdoor money from a desperate chairsatan & you have JPM.

Thu, 03/24/2011 - 16:13 | 1096600 tmosley
tmosley's picture

Libtrolls can't learn from the past.  They just keep making the same mistakes over and over, making a fine 30 lane highway to hell.

Thu, 03/24/2011 - 15:50 | 1096481 JLee2027
JLee2027's picture

Well Mark it just hasn't dawned on you a rising price of silver forces those like the Morgue with a huge short position to put up billions as collateral to meet margin calls. OF COURSE IT'S HAD AN IMPACT YOU MORON.

Thu, 03/24/2011 - 15:49 | 1096483 yabyum
yabyum's picture

It has NO effect on them. They play with other peoples money.

Thu, 03/24/2011 - 19:26 | 1097416 Bicycle Repairman
Bicycle Repairman's picture

That's right.  I'm here to collect other people's money from JPM.  A win-win.

Thu, 03/24/2011 - 16:02 | 1096512 Pegasus Muse
Pegasus Muse's picture

When you are a Capo di Capo of the La Familia of Wall Street Gangster Banksters --- when you are the FED's bank --- with an endless supply of free-money from the criminal FED, it may take more than silver to bring you down.  

Perhaps a different approach is needed.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights,[72] that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

 Are we there yet?  It sure feels like it.

Thu, 03/24/2011 - 19:27 | 1097415 JoeSexPack
JoeSexPack's picture

Badda Bing! The Fed Mob makes the La Cosa Nostra look like High School kids.

'They made their bones when the Gambino's were chasin' cheerleaders!' Moe Green.

Need a Like button, Tyler.

Thu, 03/24/2011 - 16:07 | 1096520 Bay of Pigs
Bay of Pigs's picture

Among other things, you apparently don't understand regulatory capture and the ending of FASB. This won't end until the massive concentrated short positions are dealt with. Either the CFTC does it's job or the physical market itself will resolve it by literally blowing up the fraud ridden COMEX.

Ted Butler explains,

Thu, 03/24/2011 - 17:52 | 1097087 TruthInSunshine
TruthInSunshine's picture
I don't know about all of the rest of you, but I love the smell of desperation by the trembling lip sycophant. Bernanke to Hold Quarterly Briefings 4:07 PM ET

WASHINGTON (Reuters) — The Federal Reserve chairman, Ben S. Bernanke, will start holding regular media briefings on monetary policy next month, a shift to greater openness at the traditionally secretive central bank.

Mr. Bernanke will begin a program of quarterly news conferences on April 27 after a regularly scheduled two-day Fed meeting on monetary policy, the central bank said Thursday. It will be the first regularly scheduled briefing by a Fed chairman in the history of the nearly 98-year-old agency.

Future briefings will coincide with Fed meetings at which officials provide their quarterly economic forecasts, which fall in June and November this year.

“The introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve’s monetary policy communication,” the Fed said.

Mr. Bernanke has taken a number of steps to improve transparency at the Fed during his tenure as chairman, and the latest announcement brings it into line with some other central banks. The head of the European Central Bank holds a news conference after each bank policy meeting, while the governor of the Bank of England briefs the media on a quarterly basis.

Congressional and public demand for greater Fed disclosure grew louder in the wake of the recent financial crisis, during which the Fed undertook extensive unorthodox emergency measures.

The Fed has a reputation for conducting its operations behind closed doors and shielding details of its decision-making from view.

Despite a gradual shift to greater openness in recent years, the Fed has fought to keep some of the details of its operations secret. This week, it lost a court battle to withhold the names of banks that had taken emergency loans from its discount window, the lender of last resort for banks, during the financial crisis.

To make its operations more open, the Fed has in recent years begun issuing its forecasts quarterly, rather than twice a year, and moved up the subsequent publication of minutes of policy meetings to three weeks after a meeting from about six weeks.

It did not begin announcing its interest rate moves until 1994.

Since the financial crisis, Mr. Bernanke has stepped up efforts to explain the central bank’s actions to the public, giving two extensive television interviews and delivering speeches at which reporters were able to ask questions.

Janet L. Yellen, the Fed’s vice chairwoman, has led a subcommittee examination of the central bank’s communications practices since November. The Fed said Thursday that it would continue to review its policies “in the interest of ensuring accountability and increasing public understanding.”

Thu, 03/24/2011 - 23:23 | 1098252 StychoKiller
StychoKiller's picture

Increasing the number of times one can promulgate lies does nothing to enhance "truthiness!"

Thu, 03/24/2011 - 16:17 | 1096632 I Am The Unknow...
I Am The Unknown Comic's picture

Well Mark I see you missed my comment on the Couer d'Alene thread so I will re-post it here for your benefit:

Well this is entertaining and worth a chuckle:

CNBC headline reads "Meredith Whitney Cuts Forecast for Morgan Stanley; Shares Lower" 

She cut earnings per share from 59 to 35.  However, here is the fun part - according to CNBC "Reasons for the cut remained unclear; a copy of the note obtained by CNBC offered little supporting evidence for Whitney's revised conviction on the mega-bank" 

This is just great, fun news.  Looks like JPM is getting fucked hard by PMs, but heaven forbid anybody at CNBC report something so blasphemous as that.  We can all hope that Blythe is out of a job soon.

No word yet on when Meridith will be called before congress for this her latest treasonous, national security threatening, terrorist statement. I bet they have a special place at a FEMA camp picked out just for her.

Thu, 03/24/2011 - 18:19 | 1097149 UninterestedObserver
UninterestedObserver's picture

Advise? Sure you are an idiot for confusing JPM's stock price with their balance sheet - any other stupid questions?

Thu, 03/24/2011 - 18:21 | 1097158 nmewn
nmewn's picture

"It also makes me wonder why JPM is less than 10% from its 52-week high..."

Ummm...the dollar you will be paid with is down -10% over this same time your down what?...-20% and bragging?...mmmkay...LOL.

Thu, 03/24/2011 - 17:32 | 1097001 Math Man
Math Man's picture

Bought more puts today...  a nice little gift this afternoon.

The big dump on margin increases shows you how speculative this game has become.

Silver will be below $20 this summer.

It only costs 5 bucks to dig it out of the ground.

And by the way, the backwardation is also declining - -  so much for the short squeeze theory.  And lease rates - also declining rapidly -  So long $36.  It was nice knowing you. 

See you below $20.

Thu, 03/24/2011 - 17:47 | 1097062 Vagabond
Vagabond's picture

Can we set an expiration date on this silly claim of yours?  You claim this summer, so I'll give you until September 1, if we haven't seen this long claimed correction, you go the way of the dodo.  I'm sure you'll be long gone by then anyhow as silver is more likely to hit 50 than 20 this summer.  Come to think of it, a better bet: September 1 or silver 50 you finally move on to troll elsewhere.

Thu, 03/24/2011 - 17:46 | 1097068 Vagabond
Vagabond's picture

To me your $5 out of the ground line is simply more reason to buy up the underpriced miners.

Thu, 03/24/2011 - 18:13 | 1097133 Confucious 222
Confucious 222's picture

Ya know what else Math Man?

That $55 Trillion in unfunded liabilities this broke nation owes is going to disappear by summer and Superman is going to fly real fast and make the earth spin backwards and turn back time and make silver go to 20 bucks because you have promised to eat your vegetables.

See you at $45-$55 by the end of the year in the real world, if you're still visiting us mere mortals by then.


Thu, 03/24/2011 - 18:38 | 1097212 Math Man
Math Man's picture

That is the funny thing about bubbles.  The rationale for the purchase is always there - and usually correct, or at least has some basis in fact.  It is the price that is wrong.  Yes, we have some big problems and the dollar could devalue over the next few years or decades --- but, the problem is, silver has more or less doubled in six months. And you're over paying for something that is more than priced in.

Buying for the right reasons, but paying the wrong price is how a bubble works.

Everybody bought dot.coms because the internet was going to change the world.  It did.  They just paid the wrong prices in 1999.

Everybody bought condos in Florida for 400k becuase the baby boomers were going to retire there.  They are.   They're just paying 150k in 2011. 

Even the tupip mania started as speculation on the increasing economic prosperity of the Dutch in the 1600s...  and they were right, Hollands global dominace continue until the 18th century.

It's always the same with bubbles... that's why they happen.  The reasoning behind the purchase is correct, but people get worked up in to a mania and over pay.

Does anyone really think the nearly doubling in price over the last six months is justified? 

It's not... you're all just victims of a mania, and it is going to end very, very badly.

Thu, 03/24/2011 - 19:12 | 1097369 Mark McGoldrick
Mark McGoldrick's picture

That's a great post, Math Man.  I'm happy to see a voice of reason in this libertarian echo chamber of goofiness and fanaticism. 

Can you believe that some silver goofballs actually preach "price doesn't matter?"

Isn't that hilarious?

If there is one common thread in all bubbles, it's the belief that the price today doesn't matter because it's guaranteed to be higher tomorrow/next month/next year.  And your examples fit that perfectly. 

Price doesn't matter.  *LOL*  That's like bobbing for a clue in a vat of Kool-Aid and coming up with a bunch of fish hooks in your mouth.  

Thu, 03/24/2011 - 19:53 | 1097514 RockyRacoon
RockyRacoon's picture

The price really doesn't matter.  But I'd be pissing up wind to try to explain it to you.  Might as well try to teach my dog algebra.  

Thu, 03/24/2011 - 19:56 | 1097536 Hulk
Hulk's picture

Double Douche...

Thu, 03/24/2011 - 20:03 | 1097558 Harmonious_Diss...
Harmonious_Dissonance's picture

How much does it cost to dig it out of the ground? I missed what you said...

Thu, 03/24/2011 - 23:27 | 1098266 StychoKiller
StychoKiller's picture

Silver (and every other commodity) is NOT rising in price, the Dollar (and every other Fiat currency) is falling in purchasing power.

Thu, 03/24/2011 - 18:20 | 1097153 Bay of Pigs
Bay of Pigs's picture

On the day we see gold and silver making new highs at 1449 and 38, this PM troll trots out and says this? Your timing couldn't be any worse.

Thu, 03/24/2011 - 18:21 | 1097154 UninterestedObserver
UninterestedObserver's picture

You would think the fucking moron trolls would have gone away when silver vaulted past $35

Thu, 03/24/2011 - 19:35 | 1097449 Bicycle Repairman
Bicycle Repairman's picture

The margin increase is a bump in the road that will last a couple of days.  Tops.  The main (and continuing driver) is QE.  Come back when QE ends, otherwise you're wrong.

Thu, 03/24/2011 - 21:34 | 1097767 Bay of Pigs
Bay of Pigs's picture

It didn't even last 24 hours. We are right back where we were yesterday before the margin increases.


Thu, 03/24/2011 - 15:18 | 1096332 Racer
Racer's picture

I wish they would be so particular about oil.. that directly affects poor people

Thu, 03/24/2011 - 15:24 | 1096353 Harlequin001
Harlequin001's picture

If you buy gold and silver you don't need to put your money in a bank which means that government can't fund its deficits.

Oil, who cares...

This affect a lot more poor people than oil.

Thu, 03/24/2011 - 15:26 | 1096379 dwdollar
dwdollar's picture

They're not all powerful... yet.  They still have to pick and choose their battles.

Thu, 03/24/2011 - 15:19 | 1096333 Turd Ferguson
Turd Ferguson's picture

such bullshit

Thu, 03/24/2011 - 15:27 | 1096385 ReallySparky
ReallySparky's picture

Second that remark.  However it does give us more opportunity to stock up at discount prices.

Thu, 03/24/2011 - 15:38 | 1096436 long juan silver
long juan silver's picture

if long unlevered bullion? Why care?

Thu, 03/24/2011 - 15:55 | 1096502 truont
truont's picture

I heard this theory:  The COMEX can avoid default on silver by raising the margin requirements, until the margin required is 1:1.  Then, longs will not use the COMEX at all.  So, the shorts will be saved. 

But this is a catch-22.  Hiking margins repeatedly encourages investors to go for physical delivery, since they have less leverage in the futures market. 

I hope the COMEX raises the margin requirements all the way to 1:1.

Thu, 03/24/2011 - 15:58 | 1096514 long juan silver
long juan silver's picture

Dude, now ya kickin it!!

Thu, 03/24/2011 - 16:20 | 1096657 cbaba
cbaba's picture



 ...."encourages investors to go for physical delivery"... that's a good point.

Plus there is also psychological effect, everybody understand that Banksters need more help by changing the rules in the middle of the game. That means they are desperate, losing the battle day by day. This will also encourage investors to ask for more physical delivery.


Thu, 03/24/2011 - 19:56 | 1097525 RockyRacoon
RockyRacoon's picture

Changing the rules in the middle of the game.  Right.

Like when the dice are in the air.   Try that in Vegas.

Two big no-neck guys will come out an want to "talk" with you.

Thu, 03/24/2011 - 18:22 | 1097156 UninterestedObserver
UninterestedObserver's picture

Right they can essentially keep raising the margin until they blow themselves up - perfect

Thu, 03/24/2011 - 18:22 | 1097157 UninterestedObserver
UninterestedObserver's picture

Right they can essentially keep raising the margin until they blow themselves up - perfect

Thu, 03/24/2011 - 18:03 | 1097115 Confucious 222
Confucious 222's picture

Yes indeed. I enjoy these shake the tree moments as:

A. I personally don't want a bunch of dumbasses adding on multiple futures contracts with high leverage instead of working for a living

B. Gives me the opportunity to add physical on sell-offs

C. It's cheap entertainment watching JPMorgue break every law and bribe every swinging dick just to avoid having silver go to $100 quickly rather than steadily 


Thu, 03/24/2011 - 21:45 | 1097871 sullymandias
sullymandias's picture

So many posters here are talking about a selloff and buying the dip. What did I miss?? Silver is >$37!

Thu, 03/24/2011 - 15:38 | 1096431 Bay of Pigs
Bay of Pigs's picture

Could you refrain until June 10th you worthless prick?

Thu, 03/24/2011 - 15:56 | 1096511 traderjoe
traderjoe's picture

True 'dat. And I don't think the little boy spalding (pissing in the wind) has once manned up to take the various challenges offered to him. He's a fraidy-cat shill.

Thu, 03/24/2011 - 17:39 | 1097042 gmrpeabody
gmrpeabody's picture


Thu, 03/24/2011 - 15:42 | 1096439 Temporis
Temporis's picture

Why ya gotta be a dick?


Turd tell "Spalding" to go fuck himself and please never give up on your blog.

Thu, 03/24/2011 - 15:41 | 1096443 Turd Ferguson
Turd Ferguson's picture

I replied to fucking douchebag Spalding then changed my mind. Why waste my time?

Thu, 03/24/2011 - 15:46 | 1096477 Snidley Whipsnae
Snidley Whipsnae's picture

Keep the faith, TF. CME will eventually drive traders to other markets. Or maybe we will all be long physical and the CME can eat worms.

Thu, 03/24/2011 - 15:58 | 1096506 Spalding_Smailes
Spalding_Smailes's picture

And you said you would no longer post • spam ZH.


Snake oil .... Blaming your loses on Blythe, a masterstroke for any salesman. Without the dustup in the middle east gold would be under 1,350 and when QE is over ...... Wooooooooooooooooooshhhhhhhhhhh see ya bitch !!!!

The end of the great keynesian experiment but you start a new business, that was just a hedge, right ... Lol'

Thu, 03/24/2011 - 15:58 | 1096517 tmosley
tmosley's picture

It's not spam.  Spam is *UNWANTED*.

The people here want to hear what he has to say.

Unlike you.  Loser.  No-one has EVER asked you to open a blog, have they?  There is a reason for that.

Thu, 03/24/2011 - 18:25 | 1097168 UninterestedObserver
UninterestedObserver's picture

LOL didn't gold hit an all time high today? Is it June already?

Thu, 03/24/2011 - 21:21 | 1097793 Bendromeda Strain
Bendromeda Strain's picture

Meh - Martin Armstrong just came out and said that if gold makes a low mid-June, that is his surest sign that it is going to liftoff.

Thu, 03/24/2011 - 15:42 | 1096457 tmosley
tmosley's picture

Hey everybody, it's Loser the Delivery Boy!

How's it going Loser?  How does it feel to be constantly beaten by people who just buy and hold physical silver?  How does it feel to lose all of your meager savings to transaction fees?

Or do you actually do any of that?  

Oh, what's that?  Scumdog Millionhairs wants a new dinette set.  Better get off to it, boy.  The spending habits of the wealthy corrupts in Chicago are indicative of the spending habits AND economic health of the rest of the US.  Every dinette set Loser here delivers is worth 100,000 jobs around the US!

Thu, 03/24/2011 - 15:51 | 1096491 Spalding_Smailes
Spalding_Smailes's picture

Doing a hotshot to Baltimore this weekend $1950.00 cha-ching .....

Thu, 03/24/2011 - 15:59 | 1096522 long juan silver
long juan silver's picture

Dat guy wit the green lips avatars got some kinna king sized chip eh?

Thu, 03/24/2011 - 15:59 | 1096524 long juan silver
long juan silver's picture

Dat guy wit the green lips avatars got some kinna king sized chip eh?

Thu, 03/24/2011 - 16:00 | 1096525 tmosley
tmosley's picture

What's that, when you suck off all the guys in Baltimore?

They're paying you too much.

Fuck off.  No-one wants you here.

Thu, 03/24/2011 - 16:09 | 1096581 Spalding_Smailes
Spalding_Smailes's picture

Ask a doomer, jobless, communist like yourself, why waste my time .... Lol'

Thu, 03/24/2011 - 16:21 | 1096667 tmosley
tmosley's picture

You are so stupid you don't even know the definition of ANY of those words.

I'm making money hand over fist, unlike your lying ass who just got fired from his "cushy" delivery job.  You were "sick" for so long that no store owner on Earth would continue relying on you, so now your dumb ass is back on the road making NOTHING.

You want to know how I'm doing? +123.97% in the last year.

Suck on that, delivery bitch.

Thu, 03/24/2011 - 16:04 | 1096530 Turd Ferguson
Turd Ferguson's picture

Spalding, I guess I don't understand why you decided to become such an asshole. I've never been anything but cordial toward you. Additionally, I counseled people into silver at $26.50 in late January. They've done pretty well. it matters. Go do your thing. I won't be responding to you again.

Thu, 03/24/2011 - 16:07 | 1096559 Spalding_Smailes
Spalding_Smailes's picture

A few things, the hundreds of spam's stealing readership on someone else's blog, blaming blythe for ever bad call, and calling for the downfall of keynesian economics but then you open up a new business.

Do they feed the turd in gold or dollars, how do you buy gas and food and pay your taxes ?

Thu, 03/24/2011 - 16:15 | 1096630 tmosley
tmosley's picture

How do you "steal readership"?  You honestly think that anyone who reads the brief posts on Turd's blog doesn't read ZH?

You are an idiot.  Get out.

Thu, 03/24/2011 - 17:00 | 1096880 Dr. Porkchop
Dr. Porkchop's picture

I'd think that if Tyler didn't like it, he'd have asked TF to stop.

Thu, 03/24/2011 - 16:02 | 1096531 traderjoe
traderjoe's picture

How are gas prices treating you fuckwad? How's your hero Ben doing?

Thu, 03/24/2011 - 16:28 | 1096715 homersimpson
homersimpson's picture

You're such a pr0n star.. the gay kind..

Thu, 03/24/2011 - 20:02 | 1097549 RockyRacoon
RockyRacoon's picture

You give him too much credit.  He's just a fluffer.

Thu, 03/24/2011 - 20:58 | 1097729 nmewn
nmewn's picture


Thu, 03/24/2011 - 19:38 | 1097460 Bicycle Repairman
Bicycle Repairman's picture

Smailes, see you again on the next down day.  About $5 from now.

Thu, 03/24/2011 - 15:31 | 1096398 Ray1968
Ray1968's picture

This is a war. The good guys will win this one.

Thu, 03/24/2011 - 15:40 | 1096441 alien-IQ
alien-IQ's picture

the good guys only win in the movies, Ray. sorry.

Everybody knows that the dice are loaded
Everybody rolls with their fingers crossed
Everybody knows that the war is over
Everybody knows the good guys lost
Everybody knows the fight was fixed
The poor stay poor, the rich get rich
That's how it goes
Everybody knows

Thu, 03/24/2011 - 15:43 | 1096459 malikai
malikai's picture

Love that song. Many others of his as well.

Thu, 03/24/2011 - 15:35 | 1096424 Bay of Pigs
Bay of Pigs's picture

Keep the faith Turd. Your site is waking up thousands of people to this ongoing criminal enterprise of JPM/HSBC/SEC/CFTC etc...

Sad to say, I've been watching this for over a decade. They are now making shit up as they go. It reeks of TOTAL desperation.

Iron fisted resolve Bitchez.

Thu, 03/24/2011 - 15:44 | 1096458 Turd Ferguson
Turd Ferguson's picture

If anyone cares what the fuck I think, here you go:

Thu, 03/24/2011 - 15:56 | 1096507 tmosley
tmosley's picture

Don't let the delivery boy get you down, Turd.  Just keep the legendary shoeshine boy in mind, when you remember that this moron is long stocks and short silver.

Thu, 03/24/2011 - 16:16 | 1096620 B9K9
B9K9's picture

What's the difference? Since all financial assets are in a bubble, the only up side to PMs is you can physically keep them.

Yet, when the house of cards finally comes crashing down, how are you going to manage holding onto your PMs?

Let's face it - if you have food, PMs, etc stored, within a relatively short time frame, your healthy self will begin to stand out amongst the impoverised. (See Clavell's 'King Rat'.) Think they won't notice?

This is why, while I enjoy reading trading threads, I can't help but imagine it's really no different than the crowds which flock to the sea shore to see the tide go way, way out.

It all seems like a bunch of fun & games, but this is deadly serious business. How well one manages to fit in, provide leadership, rally the downtrodden, etc are really the keys to survival.

Thu, 03/24/2011 - 18:26 | 1097170 dalkrin
dalkrin's picture

If you are smart enough to prepare with food and PMs, the next logical step is the arm yourself with firepower to ward off would be looters.  Keep to yourself, and if someone intrudes into your tranquility then answer with a volley of shot.  Ammo will be commanding a premium in times of widespread anarchy.

Thu, 03/24/2011 - 20:02 | 1097556 RockyRacoon
RockyRacoon's picture

All these things are done simultaneously and in fluctuating amounts to maintain balance.  There is no numbered list of tasks in this endeavor.   Thank you for playing.

Thu, 03/24/2011 - 19:40 | 1097475 Bendromeda Strain
Bendromeda Strain's picture

Think "Surviving in Argentina" over white farmer in Zimbabwe...

Thu, 03/24/2011 - 19:10 | 1097356 Richard Head
Richard Head's picture

That booger eater isn't long or short anything.  $50 says he has no capital whatsoever.

Thu, 03/24/2011 - 16:08 | 1096564 Gene Parmesan
Gene Parmesan's picture

I wonder if there might be some avenue of recourse in the courts against blatant market manipulation...

Thu, 03/24/2011 - 15:18 | 1096334 alien-IQ
alien-IQ's picture

this is so fucked up.

Thu, 03/24/2011 - 15:24 | 1096364 Pladizow
Pladizow's picture

This type of thing will continue as they slowly lose control.

Expect many more acts of desperation.


Thu, 03/24/2011 - 15:30 | 1096390 Harlequin001
Harlequin001's picture

It doesn't look like they're losing control to me, looks like they just stopped a major run up in its tracks.

Buy and hold people, buy and hold...

Thu, 03/24/2011 - 15:48 | 1096479 malikai
malikai's picture

Judging by the effectiveness of the late Jan raid, compared to the last raid, they are indeed losing control. We'll see how well this raid works to bring down prices.

If control is indeed lost, the only way I can see an out for them is to try to crash all "risk" assets, assuming people will flee into the dollar. But I'm not so sure that will even work this time.

Only time will tell.

Thu, 03/24/2011 - 16:32 | 1096750 I Am The Unknow...
I Am The Unknown Comic's picture

I'm in agreement with you Malikai.  What happened today was predictable and I think it does show they are desparate and losing control.  I also don't think this raid will drive the price down enough for me to make a anything but a slight profit on the ZSL I bought yesterday.  I think they are losing capabilities while at the same time becoming more predictable.  I didn't know exactly what fraud would be committed today but I knew some kind of fraud would be committed today or tomorrow and that is why I went short yesterday.  I am not bragging - I nearly shat my pants when silver broke so strongly upward through 38 this morning and I was down heavy in my ZSL position.  I am looking to unload ZSL and go long AGQ again within the next few days.  I can agree that they would crash risk assets to prop up the DXY, but I think that crash will exclude the S&P/DOW and be targeted across a variety of commodities...namely gold, silver, copper and oil....and I too am not sure that will work this time.   

Thu, 03/24/2011 - 15:47 | 1096470 TWORIVER
TWORIVER's picture

Your photo makes me want to buy and hold.

Thu, 03/24/2011 - 15:24 | 1096369 Harlequin001
Harlequin001's picture

No, this is the real world...

Thu, 03/24/2011 - 15:18 | 1096335 Harlequin001
Harlequin001's picture

Funny old thing, who said the SEC or any other government body was there to act for investors...

Thu, 03/24/2011 - 15:19 | 1096340 dryam
dryam's picture

Buy, buy, buy!!!!!!

Thu, 03/24/2011 - 15:19 | 1096341 WALLST8MY8BALL
WALLST8MY8BALL's picture


Thu, 03/24/2011 - 15:39 | 1096444 Citxmech
Citxmech's picture

Except in PMs it's:  "BTFP" = Buy the Fucking Plateau,


"BTFP" - Buy the Fucking Pause.

Thu, 03/24/2011 - 15:21 | 1096344 New Survivalist
New Survivalist's picture

Fucking fuckers. This shit makes me crazy.

Thu, 03/24/2011 - 15:21 | 1096345 slow_roast
slow_roast's picture

Another great dip to be bought.

Thu, 03/24/2011 - 15:22 | 1096347 RobotTrader
RobotTrader's picture

Looks like another rotation.

Mo-Mo players are dumping gold and piling back into tech stocks.

Why be greedy?  Lots of money made in GLD and SLV, many are taking profits and using the cash to find beaten down junkers.

Lots of big reversals today in tech land.

Bargain hunters are swooping in on names like NVDA, up 8% today.

Thu, 03/24/2011 - 15:25 | 1096374 TradingJoe
TradingJoe's picture

Well Robo, watcha gonna do with all that cheap POMO, eh?

Thu, 03/24/2011 - 15:39 | 1096414 plocequ1
plocequ1's picture

Shit, Thats easy.. Buy stocks, Make money, Ignore all bad news, Praise Doctor Bernanke, Party like 1999. Did i leave something out?

Thu, 03/24/2011 - 15:41 | 1096450 Ruffcut
Ruffcut's picture

Great point there RObo.

If the market makers are going to blow upward the yuckity markets with a moon shot, then paper metal dealers will go for the highest return. They know the PM paper is more useless than a stock cert is perhaps in the near future.

Only gold bugs, are hard core, long term. The elites don't give a shit, for they hold everything, anyway.

Thu, 03/24/2011 - 15:33 | 1096403 dryam
dryam's picture

You are such a propaganda whore.  Who do you work for?...the banks, the Fed, Timmy???  I know you are not just some unemployed dumbass who lives in his mom's basement posting on ZH 24/7......or maybe you are.

Thu, 03/24/2011 - 15:32 | 1096406 Spalding_Smailes
Spalding_Smailes's picture

Massive volume in Nividia, I love it ....

Got MPEL or GLUU ???

Thu, 03/24/2011 - 16:02 | 1096535 tmosley
tmosley's picture

Spam.  Nobody cares.

Thu, 03/24/2011 - 15:53 | 1096495 Robot Traders Mom
Robot Traders Mom's picture

Seriously, it really bothers me that I know you are on unemployment and just troll around at the taxpayers expense.

Thu, 03/24/2011 - 15:55 | 1096500 disabledvet
disabledvet's picture

frankly i don't understand the defeatism.  obviously "this can happen."  as reported on with great expertise here and only here "we have flash crashes."  the response?  BROKEN TRADES.  Obviously "if you were expecting free market capitalism" in your "free market capitalism" we all need to grow up.  having said that "raising margin requirements is a defeat"?  not for the longs in my view--sure prices went down the last time this happend...and then?  No, imo this makes the CME look like a pile of BS.  Great for Saudi Kings and princes tho...

Thu, 03/24/2011 - 16:30 | 1096729 homersimpson
homersimpson's picture

Geez.. the first dip in a long time and you finally show up.

That's a Monday Morning QB in everyone's book...

"Bargain hunters are swooping in..." Yea I'm sure they really are *rolls eyes*

Don't trip over the volume as you stumble over your paper stocks.

Thu, 03/24/2011 - 16:37 | 1096767 quasimodo
quasimodo's picture

Robo, make yourself useful-like Pladizow,and take it all off.

Thu, 03/24/2011 - 16:39 | 1096775 quasimodo
quasimodo's picture

Robo, make yourself useful-like Pladizow,and take it all off.

Thu, 03/24/2011 - 16:42 | 1096779 quasimodo
quasimodo's picture

No, I don't have Tourrets syndrome

Thu, 03/24/2011 - 17:24 | 1096974 mynhair
mynhair's picture

And F.  Guess the morons finally figured out TM is effectively out of action for a while.

Thu, 03/24/2011 - 19:42 | 1097478 Bicycle Repairman
Bicycle Repairman's picture

Robo, you aren't real.  You aren't a trader.  You have no capital.  So just save the advice, leave some soft porn and come back next week.

Thu, 03/24/2011 - 15:21 | 1096352 LostWages
LostWages's picture

Just another form of market manipulation.  Protect the banksters at all costs.


Thu, 03/24/2011 - 15:22 | 1096355 trendybull459
trendybull459's picture

the collateral value of hard assets isn't news,it was as soon as i remember from 2001,at list in ABN AMRO and UBS

Thu, 03/24/2011 - 15:24 | 1096356 jesse livermoore
jesse livermoore's picture

nothing qutie like changing the rules in the middle of the game .........................

Thu, 03/24/2011 - 15:26 | 1096361 GOSPLAN HERO
GOSPLAN HERO's picture

Silver rules! 

Each day, there are at least $7.5 billion reasons to buy more silver.

Thu, 03/24/2011 - 15:25 | 1096362 TradingJoe
TradingJoe's picture

We have long passed insanity and are rapidly approaching euphoria, does that not scare the shit out of any of you?!?!

I for once am 95% cash, physical PMs and 5% puts! If nothing else matters in this world anymore but money, I suspect we'll get a lot of it, as toilet paper, soon!

Thu, 03/24/2011 - 17:27 | 1096984 mynhair
mynhair's picture

Not scared here, for once 50% long, and 50% cash instead of 110% short.

Thu, 03/24/2011 - 15:27 | 1096365 trav7777
trav7777's picture

you have to buy this dip...too predictable.

Gold/silver set highs, margins hiked, short plunge and then back at it again next week.

so CME chases out some of the latest hands by forcing them to sell today

Thu, 03/24/2011 - 15:28 | 1096377 Sophist Economicus
Sophist Economicus's picture

Yup.   All of those misanthrpoic paper bugs that hated seeing this run-up are gonna jump in calling the top.   They'll be toast in a week or two.   Another way to buy on the cheap

Thu, 03/24/2011 - 15:30 | 1096378 Sophist Economicus
Sophist Economicus's picture


Thu, 03/24/2011 - 15:31 | 1096399 strenue
strenue's picture

This is a bit predictable...

Thu, 03/24/2011 - 15:25 | 1096366 the not so migh...
the not so mighty maximiza's picture

who the hell is that guy running with the goal post down the field

Thu, 03/24/2011 - 15:34 | 1096413 Harlequin001
Harlequin001's picture

the goaly...

Thu, 03/24/2011 - 15:56 | 1096515 Cash_is_Trash
Cash_is_Trash's picture

haha, it's fucking ridiculous!

I like Tyler's naming of Commodity Whack-A-Mole, it's just so fitting.

Thu, 03/24/2011 - 15:24 | 1096367 Sophist Economicus
Sophist Economicus's picture

Silver's gonna be on sale again!    This is GOOD news.    Who here was gonna sell into $38 anyway.   Do we really care how much government toilet paper an ounce is worth TODAY?   Bah, let her drop.   I measuring my wealth in ounces, not dollars

Thu, 03/24/2011 - 15:40 | 1096438 malikai
malikai's picture


Thu, 03/24/2011 - 15:50 | 1096490 SumSUN
SumSUN's picture

+320 and increasing every weekend.

Thu, 03/24/2011 - 17:36 | 1097030 plata pura
plata pura's picture

Yep, weight be it. The commons must learn.

Thu, 03/24/2011 - 15:24 | 1096371 dryam
dryam's picture

Fair is what you pay to ride the bus.

Thu, 03/24/2011 - 15:29 | 1096388 nope-1004
nope-1004's picture

and spelled "fare"

Thu, 03/24/2011 - 15:27 | 1096376 Hulk
Hulk's picture

Makes no matter...

Thu, 03/24/2011 - 15:31 | 1096405 DosZap
DosZap's picture

This is exactly what I posted earlier.

A $16.50 up day,and then a $32. take down the next, starting all over again, silver same train.

One thing good is, as long as there are higher lows,we are winning.....................SBS.

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