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And So It Continues: Another 92 Thousand Ounces In Physical Silver Withdrawn From Comex Despite Historic Paper Collapse
At this rate, tomorrow, for the first time, we will see a 32 handle in Comex registered silver ounces, where apparently despite the massive drubbing in paper silver, demand for physical inexplicably persists.Speculators to be blamed for this in 5...4...3...
Longer-term:
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U.S. Mint Direct Dealer List http://www.usmint.gov/mint_programs/american_eagles/?action=lookup
Thanks for the info.
Paper = virtual over leveraged fractional trading.
Physical = reality.
And the reality of the situation is going to hit home it's just a matter of time.
+1
I'm long reality.
Dollar is at 74.
Debt still $14.3T.
You can't outrun gravity forever...
This is a big raincloud with a shiny silver lining.
Happy BTFD
Well...I'm in. Bought my favorite silver associated company at the close...and little more after. I'm going ahead and calling the silver train wreck WAY over done.
Go ahead then and mock me...junk away.
LONG bitchez!
Frodo: You swore! You swore on the Precious!
Fast Forward 3 years:
FORBES LIST OF THE MOST WEALTHY
1. Danny Dick Beater 50,000oz
2. Edward Ass Face 48,586oz
3. Johny Pecker Head 47,234oz
...
Gold back up to $1490/Slvr $35.00..............The DIP is being short lived.
Silver stablising on 35 in Asian hours, dropped 30% from high in 5 days. What other signs to look for before getting back into the party?
I'd wait and see. The after hours buying is on infetismal volume compared to the sell-off, which was huge. We'll see tomorrow and Monday which way the wind will blow.
Anyone who thinks they even need paper to determine a low silver price is a fool. All they need is some electricty and a computer screen.
Wow...paper silver is flooding the market! Paper silver is cheap, cheap, cheap and getting less expensive by the day. Love that paper silver. Soon there will be so much paper silver they will just be giving it away!!
Here is the real price of silver eagles from Monex:
COMEX price and Monex's price track in neck in neck perfectly.
"silver eagles"
Howdy Robo - did you ever get that monster box of ASE's sold you offered?
It would have been a good time to sell at an intermediate top!
Disclosure - I hold only physical PM's only for long-term planning, I am not an investor.
Robot:
For your consideration. Thread soundtrack for Blythe and all the vaporware at the COMEX...LOL
http://www.youtube.com/watch?v=06Qr87Yelx4
This silver crash is going so fast that the ones that are "trapped" in expensive physical silver positions, will buy the hack out of the market at lows to reposition there stomachs back in the wright direction.
You can blame MAX K. for this rally, but can thank him for this fact: millions of folks got a waky waky silver call and will marginallize the CRIMEX and the fiat system on new lows. Evident.
We're not in Kansas anymore.
The crime:punishment ratio is still rampant:none.
Comex default is imminent. Physical Silver sales are parabolic. Sure, the paper spot price is dropping simply because there is a run on Comex and paper ETF's. Investors are converting paper for physical while the tenuous links are still in place. They will be broken soon. Paper will go to zero while physical recovers and completes it run to 16/1 Silver Gold ratio. Hang on to your physical and buy more if you feel like it. Be prepared to grab a chair as soon as the music stops.
No offense, but if I had a Maple for everytime I read "COMEX default imminent" I could crash Benny's helicopter from the sheer weight of it all.
But I concour, I still don't want no toilet paper when the music stops.
Raising the margin so many times is absolute desperation move. China is still buying with a vengeance and they plan on total control. With Comex losing physical Silver at astounding rates it wont take long. Also watch the miners stop sending their Silver to Comex and send it directly to China.
Look at the chart. At the rate of decline it will take 2 years to reach zero, which is the default IF the chart continues on its current trajectory. So "imminent" may not be true. On the other hand, all it takes is China or India or one mega-rich company to buy futures at current insanely low prices... then demand delivery when they expire.
So it could be imminent, or it could be 2 years. In fact, the latest events are attempts to shake as many holders of silver out of their positions... which tends to extend their day of reckoning. Of course, if everyone sells paper silver and buys physical, the game will be over in weeks.
Now is a perfect time to buy physical silver. Perfect.
Made another "Back up the truck" Order of Bullion at 35.00+ Silver Dealer's fee per ounce.
I think this is about as low it will get tonight. I have not any idea if it will continue to drop or fight back. I have watched Gold, Pal and Plat gain back half what they lost through this evening.
I am going all in long physical silver and it matters not what the price will be because I aint selling. Should have done this years ago when it was what? 8.00?
Those of you who aint bought ASE Coins or whatever, CHECK THE SPOT PRICE (NOT COMEX) and add about... 2.00 to 4.00 or so... that should come out to about what you will pay per ounce plus shipping etc of Physical.
Registered USPS Priority Mail with Insurance, all other shipping services are at your own risk.
STAY the &^%$ away from Ebay and the nambie pambys trying to double thier physical from the stampeding herd who knows not what the spot price is that moment.
Those of you who are veterans in the metals go easy on me, I am but a Guppy who finally went all in this week.
If I learn the price falling down past 30 towards 20 tomorrow for PM, I am going to get predatory and start feasting on the dead fish floating belly up after trying to puff up paper shares of silver.
I hope that I had the nerve to do this correctly today, it's been a long day of watching the waters waiting for the right moment to buy.
Good move. We may convert some physical gold into physical silver tonight. We do 100% tonight, or maybe only 50% just in case we get a better entry tomorrow (probably the last down day). We only buy from apmex, though a couple other "good guys" exist too.
Unless they have a massive stampede started already, it will be almost impossible for even these craven predators to justify raising margins now. In fact, ethically speaking they must now massively reduce margin requirements to correspond with 35% lower prices. They won't, of course.
I think you'll be okay going "all in"... as long as you REFUSE to let them shake you out (shake your confidence and sell) by additional chaos moves.
Thank you for encouragement.
I run many a mountain on ice up and down in all weather night and day and confidence to hold what I got until we get to where we are going is in abundance.
In the meantime, I think I will stay up here on this mountain while the Silver Paper Tusnami washes the weak ones out to sea.
What really frightens me is if I can buy so much with so little off dying wages (Compared to 1970) what can the Central Banks like Mexico do with tons of the stuff while cheap.
I tell you this. There is going to be a sort of.... Crowd fighting each other as they do every holiday for some kind of Elmo Toy or whatever it is until the very last one is all gone.
It only takes one or two sugar daddy bigstuff to push a enter button on the keyboard backed by a mountain of funds to move the price of this Metal or any other metal this way or that way as they wish.
I think this is the year we fight for what we believe in, not for what the ... powers that be would have us believe in with the paper money.
I guess you weren't looking when you backed up the truck. Didn't you see the 50,000 tractor trailers with Chinese characters on the side also loading up with silver? They will keep buying truckloads as long as the price is this low. Only the predators who make trillions playing fiat, fake, fraud, fiction, fantasy, fractional-reserve debt-criminality games are willing to sell physical... and they do so because their monopoly on legal-tender monopoly money makes them far more per day than the value of all the silver on planet earth.
What is likely to happen is a massive split in the price of silver for paper-silver versus physical-silver... with physical FAR, FAR more expensive.
Then at some point the paper-silver scam will implode like a supernova as people cash out in droves and they cannot produce the physical to cover their redemptions. Then these fiat, fake, fraud, fiction, fantasy, fractional-reserve paper-silver scams will vanish, leaving only the physical market.
I was not looking. Too fixated on my own tiny purchase. Whales could move through and I would not have noticed.
I suspect the Silver Mines will find a way to invest in greater production. After all the demand for physical in addition to normal industry and other uses around the world has to be worth while.
Most silver is produced as a minor byproduct of mining other metals like zinc. Therefore most so-called "silver mines" do not increase production on the basis of silver, only on the basis of their primary metals. A few mostly pure silver mines do exist, but they account for a small minority of silver production.
Not going to go easy on you about the eBay comment cause it's ignorant. Thanks to free shipping and cashback offers, I'm way under spot net for the past 9 months. Sure, if you're a complete bonehead and overbid, then that's you're fault. Lots of genuine physical holders out there just moving metal. If your experience is otherwise, you should NOT be buying anything on eBay ever.
Understood loud and clear.
Regarding the other Poster with the mention of 50,000 Chinese Trucks loading up... They could sell the stuff at a certain price for a huge profit down the road someday. Such a sale will be a sword hanging over the US Debt we owe to them. (Or was it the other way?)
Might be a war over this. I don't know. I am just one person doing what I can and learning what I don't know.
As a coin dealer I can tell you that eBay is a very good place to buy/sell, but not in times like this where there is volatility and/or no clear direction. When the gold and/or silver spot is running smoothly up or down or stable some good money can be made selling on eBay, or buying if you take the time to cultivate a stable of long time sellers with good ratings. I now buy from a dealer who stocks enough that even a monster box can be had with a phone call. They take my money and they ship the goods. eBay misses out on the vig so the prices are better than the prices realized at auctions. It's due diligence of a different variety I suppose.
I've made some excellent buys on ebay, mostly for 90% silver coins which I've been able to buy near or under spot many times.
Those of you who are veterans in the metals go easy on me, I am but a Guppy who finally went all in this week
Everybody learns the hard way. Silver will bottom at $27.75 next week.
No way. Ammunition expended. They raised the margin requirements 5 times in 8 days. With a massively lower price now, they have zero excuse (false justification) to raise them again. In fact, by their logic, they should now lower them. The jerks.
The price won't get anywhere near $27... you're dreaming.
I'm getting the feeling that the FED has the following plan for the end of QE2:
Crash commodities, crash stock markets, instill enough fear in the markets that bonds and treasuries will seem the only safe harbour, and once the sheep have bought in drop the bomb of a new currency or full default just after printing free fiat to buy all physical gold and silver.
We are currently watching the endgame of finacial markets as the world has known it for 40 years.
for the silver bugs:
"Don't be so gloomy. After all it's not that awful. Like the fella says, in Italy for 30 years under the Borgias they had warfare, terror, murder, and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance. In Switzerland they had brotherly love - they had 500 years of democracy and peace, and what did that produce? The cuckoo clock. So long Holly."
Fuck it. Can't wait until payday. Am going to purchase 40 oz on the credit card. These prices are making me itch.
Definitely
Holy crap lets confirm the top.
1. Are you from Arkansas?
2. Did your real estate broker talk you into a bigger house for a larger tax writeoff?
3. Did you buy your home with 0 down?
4. Did you borrow money against it if you answered yes to question 3.
If your front porch collapsed today, would it kill more than 3 dogs? Ok this one does not count but we had to ask.
If you answered yes 1 to 4 would you like an infinite tax refund?
For every dollar you give me I will give you 40 cents back.
No to all your questions except the Arkansas.
Our neighbors keep so many dogs we don't have need of any. And we own our homestead outright after years of blood, tears and labor.
We don't borrow much anymore. Unless it is for a scorched earth purchase that will be paid for with a bank transfer of paper money the next day or later in month.
I remember sometimes store holiday sales extra 15% off with new credit card. Next morning, pay off card, close card and make sure it is closed down at corporate because they would be in the middle of generating a store card for 32% interest.
I'm an Arkie too. My dogs don't stay under a porch because they're too smart. I don't have a real estate broker because I am one (since the mid 1970s). Yes, I'm a coin dealer as well, but I only do one thing at a time well so I'm doing deals in PMs only for the last few years. The old stockpiles of silver at the $4 to $8 levels are still here and have not budged a bit; they all still weigh one troy ounce. All in spite of the dollar, the "markets", and the devastating wars. Makes ya wonder, don't it?
Let's confirm the bottom.
1. Are you a government employee?
2. Are you forced to troll message boards night and day for job security?
3. Do you feel co-dependant. Like if people started hating you that you wouldn't be allowed to have anything good in life?
4. If you're support from people collapsed today would it kill more than just your ambitions?
If you answered yes to 1 to 4 would you like an infinite fuck your taxes.
For every tax bill you send. You are entitled to one free fuck your taxes.
The Medici fostered the Italian Renaissance in the 14th century, amid constant political turmoil.
They had Venice on their side and it controlled the money supply that every body believed in...the Venetian mark or ducat! That made the Italian city republics the central hub of change. As the empires based on war and crusade collapsed around them, they quietly believed in trade and industrial development...like China today...not the USA..your medieval analysis points in that direction...for change that will shake the world.
Unfortunately for the Medicis and Venice, when 'Columbum' discovered America, the focus just shifted from 'Mare Nostrum' as world centre to 'Atlantis'...the money line went from Venice to Antwerp, and the Nation states of Europe took over from City states of Mediterraean. Continental paradigm change that saw the decline of the previous game changing Italian city republics's model.
So USA could come back later in the game...but it will take time...and opening a NEW 'Columbumian' horizon!...Who wants to colonise the moon in 2050????
Crash paper price to cause spot price to fall to cause real price to fall. Collect with dumptruck. Paper price collapses- suckers sguck holding the BS paper. Buffet, Sprott et al. Run off with real wealth- as usual
Yah because an anonymous bear cartoon on a free website on the internet said so. Better call in to Jim Cramer show just to make sure the bear cartoon is legit. Hope you brought your butt doughnut its gonna be a bumpy ride to the bottom.
95000 OZ That is only 19 SI contracts BOZO. If you base buying more on this news your a dumbshit.
I saw the boobs bouncing and thought this was a "Swingers" site ! BTW,, Nice Boobs ;)
believe me, you don't want to mess with his moobs.
cognative frikkkkken dissonance !!!!!!!!!!!!!
What's the big deal if they run out of physical silver? If Apple needs silver in their iPads they can use the paper silver, it's all the same price.
So now we start the march back up the hill. We see 50 by August when Benny shifts gears from inflation to hyperinflation. And when they try this bullshit again it won't work.
August? I don't think we will need that much time to hit 50. Keep in mind while the paper mountain burns brightly, those fleeing the desolation while shedding skin in the heat would be piling into the nice cold bars and coins.
That will drive the price up. I have a feeling Dear Uncle Sam will not allow the People to gain too much Silver too fast.
What makes me excited is those who can toss a one ounce coin of Gold for 1500 dollars or whatever and haul out a bucket of physical silver.
With Platinum the bucket's 20% bigger than with gold.
Turning my recent basis of 40 oz's Ag into 50 right now, and at around 56.25 (1800/32) I'm backing up the boat.
(might have take 90% though)
I'll switch back at about 3000/75 and believe that day is not as far in the future as it might now seem to some.
if the $DXY breaks above the 74.25 resistance, silver will see further decline. After that the next resistance level for the $DXY is at 74.80. If that break does come, I would expect silver to drop somewhere between 33.75 and 31.00.
Play accordingly if you are playing the futures.
If you are holding physical, don't worry about it. In the end, you will win. The long term dollar scenario is pretty hopeless and gold and silver will react as expected.
This has been an amazing intervention, making January look like child's play. It feels like this time we actually got close to the matrix of the temple's power. We are close, friends. One thing is for sure.... This war isn't over... And when this battle is finished, there's going to be hell to pay for what they've done to us here.
Calling bottoms is a mug's game I know, but it's still fun :). I think we're probably close.
Ainslie Bullion in Brisbane is a large Australian dealer and their stock is as thin as I've seen it since 2008.
They have no 1/2, 1, 5 or 10 kilo bars and no 100 oz bars. They show 12-16 kilo industrial bars in stock, and 10 oz bars in stock.
There's still a pretty good selection of Kooks/Koalas available and some Australian pre-decimal "junk" on the list, but at $44 (AUD) a pop for a one ounce Kook/Koala small lots are very expensive. Buy 20 coins and you get down around $40. 100 coins for about $39 ea.
http://spot.ainsliebullion.com.au/pricelist.aspx
If paper prices do keep falling I expect the availability to get even tighter.
Called ABC Bullion today, see if they have 1kg bars in stock, '5-6 weeks delivery' was their reply. Somehow I don't think I would get delivery in 6 weeks at today's prices.
13,140 for a 12kg bar. It's tempting ... long way to Brissy tho ....
The 20 week moving average is the interim support. It sits just above the September trend-line and is close enough to the 100 day moving average to convince me it will hold. We may see a few daily closes below it, or even an intraday spike low below it to $29, $30, $31, but that won't last long.
Buying and holding physical is a no-brainer. Wondering where you guys are getting your paper to buy more physical? Full-time jobs? Entrepreneurial endeavors and small-businesses? I'm a silver trader. If you're an investor, consider running your paper greenbacks through a duplication press and using the extra money to buy more physical. It's too easy.
The USA is setting up like a long options strangle.
http://slv.collective2.com
$34 or $32, the shenangians can't last forever right?
I suppose they can keep this up for another week or so, but at least spot is looking more affordable for us peasants.
Anyway, it was a clear bubble since January and predicted by many here. No need for conspiracy theories, something always happens to crash the bubble. There could be more conspiracy theories about who created the bubble?
34,26. its getting too fast. Just a reminder of how the March 13th graph looked like- it does go down fast, I myself can not tell from the graph how fast from top to bottom- to little pixels. Its now 11 days from intraday top of 49,72, so its a 31% correction in 11 days. Not bad.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&start=40#p31020
In the original chart, if i magnify it, peak to bottom seems to be 13-17 days. That is latest next Wednesday? Lets say, next week silver will bottom out.At around 25-30.
From there on, its only increase, but a slow and oscillating one for about a year.
ivars, be a bit more creative than simply copying your troll-posts across threads. Come on, work for the money you're paid, you lazy slacker!
when money became debt, and man became god, we abdicated our humanity, and resigned ouselves to hell.
The lower the spot price when the default occurs at the comex the less liability the bankers will have for the longs when the shtf. Let's hope the day traders don't squander the magna carta type opportunity when it arrives. A free market seems about as real as the holy grail right now.
I keep reading about people looking for physical silver.
This morning the spot price got back to where I got into "believing" in the Shiny White, and I thought it would be a perfect occasion to make the stack bigger. I realize that most people on this board are in the US, but if you happen to live in Europe, many German Bullion dealers ship to the entire EU by UPS for 22€. This morning, I got Philharmonics for just under 28€/ounce including taxes.
I hope I could help. eBay only makes sense if you're buying realllly small quantities.
ok, i understand now.
a quick update: the place I ordered from this morning is out of stock now.
i'm in the UK and find coininvestdirect to have really good service, based in germany. delivery costs are negligible with a decent sized order, and it's fun to watch the live parcel tracking as my box of shiny stuff goes from Frankfurt - Koeln - Brussels - Tamworth - Preston - Glasgow - 'on the van' over the space of a day or two.... then the dude comes up the path with the parcel.... it never gets old!
Thank you for the info! Will check them out. The plan now is quite simple: as soon as we have 2 green days in a row, it's time to fill up the vault!
just checked their delivery cost info as follows:
Normally your order will be shipped to you within 1-2 business days after your payment was received. Please be aware that a bank transfer may take 1 to 3 business days.
We only ship to countries within the Euopean Union.
Shipping Costs
On orders totaling up to USD/GBP/EUR 1.500,- shipping and handling are €15 (or equivalent).
On orders totaling up to USD/GBP/EUR 2.500,- shipping and handling are €9 (or equivalent).
On orders totaling more than USD/GBP/EUR 2.500,- there is no charge for shipping and handling.
We use secure shipping companies such as UPS, G4S or SecurLog, and all parcels are insured.
In this environment, two green days just might cost you ten dollars per ounce :)
I think it is a great idea. Everone should remove their silver from the Comex vaults. We will find a lot of silver missing . Appropriated by JPM and gang. Wonder what the Comex board will do when charged with fraud when silver is not there. Guess they may provide silver coated objects in lieu of real silver. I do hope the May longs who have given notice do not sell out to Blythe & gang. This silver is worth at least around $100 per ounce.
Today they may get their silver too. Within a few months when the T bonds and the dollar sinks they dont stand a f..king chance of getting it.
It's time that we take down the criminal gang and their comrades who are running the US.
+1
Nobody in power, including JPM, gives a damn what the silver price is. Margins were hiked to keep up with the price and vol, to protect the exchange and winning traders.
BTW, silver producers were down more than explorers yesterday. Odd:
http://miningalmanac.com/silver_producers
http://miningalmanac.com/silver-explorers
I bet silver establishes a new normal in the $10-25 range for the next decade or so. That's plenty of adjustment for the printing that's taken place, not that printing is all that printing a couple trillion has much effect in a credit money system with $50 trillion in debt going through a secular deleveraging. Just ask Japan.
The anti-dollar, hard assets carry trade is as crowded as a trade can get, and it's been this way for three years now. A lot of people are going to get hurt as they ride the slope of hope down the backside of this latest bubble. The USD is going to confound everyone with a comeback.
"The USD is going to surprise everyone with a comeback"
Maybe close to the Last Hurrah now
And for you of course, it appears that the USD is the elixir for your eternal life.
Since I run a resource stock database (miningalmanac.com), I actually have a strong interest in the continued decline of the dollar. I just don't see it happening -- people have been mega-bearish for 3 years now, after the dollar's crash from the 2001 highs. I see a triple bottom forming as a set-up for a multi-year bull market. We've been here before - in 1980 the dollar was in the dumps and bottomed just as silver spiked to $50. DXY then rallied almost 90% in a few short years.
Does anyone of you know the American TV series: "Lie to me" ?
Where the main character is an expert on facial expressions, especially so-called microexpressions, which cannot be suppressed and indicate whether a person is lying or not.
Note how Blythe reacts when the topic at the end of the conversation is turned towards commodities prices manipulation.
Her eyes, her distant stare, the corners of her mouth being pulled down.
YOU LIE !
http://www.youtube.com/watch?v=KbZNikih6yM
All this "crash" has done is brought more people to board the boat that missed it the first time. Everytime this happens the old high price is the new low price.
Nothing has changed with the financial system which is broken and has been broken since 2008.
The FED is the #1 holder of our bonds over china. That doesn't fix itself. Housing has been the driver for the fake economy for a long time and now "everyone's already got one, or two, or three"
Longer term, the falling registered inventory is a big plus for prices in the silver market. However, the massive margin call underway has overwhelming all things fundamental. I notice that silver is down $0.69 this morning, so the decent is slowing. Hopefully all the levered players are about finished selling. I would not be surprised to see a bottom this morning, and some kind of bounce next week.
Now it will be very interesting to watch the registered inventory trends over the next few months. Will buyers continue to take physical delivery? Will someone come out of the woodwork and deposit silver at the exchange vaults like a miner who may have sold production forward? If the former, we may retrace this collapse fairly rapidly. The inventory is getting thin. If the latter, then we are going to have to chop wood for quite sometime.
http://www.TheAngryGrapes.Com