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Another Decline In Registered Silver Brings Total Comex Physical To Multi-Year Lows

Tyler Durden's picture




 

One would think that following the total "annihilation" (as it has already been pegged by some) in silver over the past few days, that Comex would promptly reverse its "temporary" reclassification of Registered into Eligible silver, or so the believers in Comex holdings claim. Which is why to our surprise we noticed that today, the Comex announced that the ongoing inverse reclassification from Registered into Eligible continues, with Scotia Mocatta seeing another 186 thousand ounces of physical silver moving into that dark pool known as "eligible" holdings.

This, following on the footsteps of last week's massive reclass action, which saw 20% of the Comex Registered silver being shifted away, means that today's Comex physical silver has now fallen to a fresh multi-year low of just 33.152 million ounces. Add to this the fact that there was another withdrawal of 300k ounces from Brinks, and one may wonder just how "justified" the fall in silver price has been over the past 2 days.

And for those who enjoy seeing long-term charts below, courtesy of 24 hour gold, is a long-term chart showing Registered silver inventories at the Comex. It kinda speaks for itself.

 

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Tue, 05/03/2011 - 17:06 | 1235761 High Plains Drifter
High Plains Drifter's picture

keep the pressure on bitchez. we are close now.  BUY BUY BUY !!!!!!

Tue, 05/03/2011 - 17:13 | 1235784 tmosley
tmosley's picture

You just confirmed that you are yet another troll.

COMEX inventories shouldn't be moving like this if these prices are real.  They should remain fairly static.  But they are declining precipitously.

But a troll like you doesn't understand market dynamics.

Tue, 05/03/2011 - 17:25 | 1235827 goldfreak
goldfreak's picture

you are a troll

Tue, 05/03/2011 - 17:40 | 1235884 Doña K
Doña K's picture

Price goes up and down, but the trend is intact. Have a nice day.

Tue, 05/03/2011 - 19:31 | 1236286 Thomas
Thomas's picture

I have absolutely no idea if you are a troll but you definitely are the Junkmaster.

Tue, 05/03/2011 - 19:49 | 1236328 disabledvet
disabledvet's picture

just a guy who drives a truck.  what could a truck driver possibly know?

Tue, 05/03/2011 - 22:20 | 1236533 What does it al...
What does it all mean's picture

Not that it necessary matters and definitely not super relevant... but I bet good money that I am better educated than you.  

Wow, I heard this has happened in the past, but for the first time, ZH deleted my post.  

Cool, there you go.  Now I know.

Tue, 05/03/2011 - 23:26 | 1236893 Tyler Durden
Tyler Durden's picture

Actually what happened is that your post hit 50 junks.

Tue, 05/03/2011 - 23:29 | 1236914 akak
akak's picture

LOL

Color me unsurprised.

Curious how the silver-bashing and naysaying trolls have really started to proliferate and run amok these last few weeks.

Wed, 05/04/2011 - 08:14 | 1237424 GetZeeGold
GetZeeGold's picture

 

 

Junked to oblivion.....and beyond.

 

 

Tue, 05/03/2011 - 21:48 | 1236632 ColonelCooper
ColonelCooper's picture

I'm hoping I missed the sarcasm there.  I don't think I did.

"what could a truck driver possibly know?"

Answer: Every bit as much as an ex-grunt in a wheelchair.  Kindly pull your head from your ass and quit trying to catch the high off of the smell of your own farts.

Disclosure:
I am a truck driver, heavy equipment operator, and general all around blue collar dirt guy.  That doesn't preclude the ability to read, and/or "use the google".

Tue, 05/03/2011 - 22:19 | 1236677 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

 

Troll to soon rival punk as worst prison insult, lol

Tue, 05/03/2011 - 22:40 | 1236775 WeekendAtBernankes
WeekendAtBernankes's picture

Threadwinner

Wed, 05/04/2011 - 20:06 | 1241261 WeeWilly
WeeWilly's picture

An interesting aside... in NC the worst prison insult is to call another inmate a "waterhead". News you can use on ZH!!

Tue, 05/03/2011 - 23:46 | 1236963 DoChenRollingBearing
DoChenRollingBearing's picture

Colonel, good seeing you around again!

Disclosure: I drove a Ryder truck when I moved from Texas to DC in 1981...

Tue, 05/03/2011 - 17:31 | 1235850 tmosley
tmosley's picture

The fact that you can be presented with the above chart, showing a distinct trend in falling silver inventories at the COMEX, with a sudden sharp drop off NOW, and ask "what pressure" means you are not rational.  Most people are rational, but some people have an agenda, so they pretend to be irrational.  Which is what you are doing.

Troll.

Tue, 05/03/2011 - 17:39 | 1235879 What does it al...
What does it all mean's picture

I reply to the first poster's comment (High Plains Drifter).  Keeping up the pressure, and remarked that there is CLEARLY no pressure today.  Longterm fundamental aside, your personal p/l aside, my post was pretty straight forward...  Judging from all the people who got bent on calling me names and what not, I wonder who is off topic.  

You can track my comments, and I have always stated that Silver is going back to 40 handle, and it did today.  Face it, I wasn't along in that belief.  And there are always more readers that feel the same way, but I am just more immune to all the attacks.  It is what it is, SI dropped more than 10% today... 46 to 40.  Like it or not.  20 points round trip is more signifant than you guys are giving it credit for.  It is a trading market, not a buy and hope market.  

Guess what, I didn't even trade a single share/contract of ETF/Future/Physical.  So there are big boys out there taking your money, hand over fist.

Good luck.

Tue, 05/03/2011 - 17:45 | 1235892 tmosley
tmosley's picture

You apparently don't even know what we are talking about.

The pressure isn't on the price, it's on the supply.  You know, the white, shiny stuff?  

You don't think its odd that the volume has absolutely EXPLODED while the price has gone down in an environment of declining supply?

The fact that you can't see that means you are either irrational, or have an agenda.  Either way, no-one should pay ANY attention to anything you say.

 

Tue, 05/03/2011 - 17:51 | 1235897 What does it al...
What does it all mean's picture

Does it matter?  Good luck tracking the supply on one depository, with incomplete information and your supposed "connection".

I think it is odd that you deem it okay for silver to go from 40 to 49, but when it goes from 49 to 40, it is just odd.  

Silver can go to 59 tomorrow, and it was still a time to sell at 49, 2 weeks ago.  Period.

Tue, 05/03/2011 - 19:32 | 1236287 High Plains Drifter
High Plains Drifter's picture

you don't understand the pm bull nor do you understand physical holdings. its all a big paper game for you isn't it?  well guess what?  that game is crooked. that game allows them to manipulate the real price that should be governed by supply and demand but because of illegal short selling of silver shares that have no physical backing even though they are supposed to by rule and  by law, nevertheless, they continue on with this charade. well guess what. i don't care what they do on wall street mi amigo. i look around and i don't see anything getting any better, but only getting worse. so we wait. we didn't get past 50 on this rush, but we shall be there again soon. have faith....i bought my stash a long, time ago and for me, the juice is not in the getting in and out of pm etf's etc, but in the holding of real money and watching as my stash grows and grows and grows and grows. i promise you nothing will change. as i look at this present crew of scumbags running the show, i don't see any bright lights there and they will muck it up, right on schedule as they have planned. so no worries here mate.

Wed, 05/04/2011 - 01:11 | 1237105 silberblick
silberblick's picture

right on ... exactly my thoughts

Tue, 05/03/2011 - 20:18 | 1236416 Mec-sick-o
Mec-sick-o's picture


Better shed some light:

"The existence of a precious metals lease market results in "double-counting" of the metal, (a possible source for the fact that more gold is reported to be held than probably exists). The result may be an artificially low market price for these metals. Some gold market participants consider the entire concept of gold and silver leasing to be a fraud on the market."

More detailed at:

http://solari.com/archive/Precious_Metals_Puzzle_Palace/

"Originally, the role of the commodity futures market was as a mechanism for those in the business of producing (e.g. a mining company or farmer) or using a commodity (e.g., a jeweler or food producer) to "hedge" against the risks to their business if the price of the commodity rises or falls to their detriment in the future. In the hedging world, the sellers actually own the commodity and the buyers actually want to own the commodity. In the speculating world, however, futures traders generally have no interest in owning the commodity – they are making bets that they have a better "take" on the future market than do the counterparties of their trades. When the person in the short position on an option does not own the underlying security or commodity, he or she is required (at least in the case of a security) to borrow that asset so that the trade is "covered" and the short trader has the ability to deliver the asset if the long trader wants to take delivery. This borrowing generally is achieved by paying a sort of rental fee to a broker-dealer, who then effectively freezes the asset in the account of a customer who holds the asset in a margin account so that the owner cannot sell it to anyone else before the strike date. If the short trader does not borrow the asset, the trader’s position is called a "naked short," which, in the case of a security, in theory, is illegal but relatively common. Some prominent gold and silver bugs believe that many of the precious metals short option positions in the market are naked, and that many more ounces of gold or silver have been sold than can be delivered to the "long" traders. Naked short selling is a manipulative practice, because it holds the market price down from the price that would prevail if the market were honest.21

In the precious metals markets, it is possible for bullion banks to lease gold or silver from the central banks at a nominal lease rate (reportedly, in the range of 0.5-1.0%) in order to cover their short positions. While this used to be a common practice, central bank leases of gold bullion reportedly are rare in the current market. The following is a description of the bullion leasing process in an article by Adam Jay Doolittle entitled "Central Banks Lease Gold and Silver; Distorting Markets and Balance Sheets," published in Silver Monthly:

"The most basic form of precious-metal leasing involves central banks such as the Fed taking their gold or silver to an intermediary institution known as a "bullion bank." Major firms such as Bank of America, Barclays, Citigroup, Goldman Sachs, JP Morgan Chase, and UBS all operate as bullion banks. Typically, the bullion banks might pay a 1% interest rate on the gold or silver, with the promise to return it at a specified date. The bullion bank then takes the precious metal and sells it on the open market . . ."

The existence of a precious metals lease market results in "double-counting" of the metal, (a possible source for the fact that more gold is reported to be held than probably exists). The result may be an artificially low market price for these metals. Some gold market participants consider the entire concept of gold and silver leasing to be a fraud on the market."

Tue, 05/03/2011 - 20:20 | 1236432 Bay of Pigs
Bay of Pigs's picture

+1

Excellent. Catherine Austin Fitts rocks. 

Tue, 05/03/2011 - 21:10 | 1236554 collegepunk
collegepunk's picture

+1

Wed, 05/04/2011 - 00:34 | 1237045 KinorSensase
KinorSensase's picture

ditto.

Tue, 05/03/2011 - 18:11 | 1235980 Rick64
Rick64's picture

Give it a rest not everyone is a troll.

Tue, 05/03/2011 - 19:35 | 1236288 jm
jm's picture

+ a few ounces of silver. 

Zero Hedge isn't the 24/7 gold and silver channel, and it's not "asshat spotlight" either.

Tue, 05/03/2011 - 19:59 | 1236363 tmosley
tmosley's picture

No, but the ones screaming to the rafters for everyone to sell their silver, and unable to use simple logic or even bother to read the short article above is either not rational, or their words are being dictated by their agenda.

Tue, 05/03/2011 - 22:13 | 1236691 johnnynaps
johnnynaps's picture

I was one that mentioned last week that Silver would be targeted for manipulation. To think that our government plus the oligarchy are going to let the population drive the price to the moon is completely absurd. Not to mention, they made their quota, now it's time to crush the little guy. When a member of the oligarchy has a net worth 5000x us common folk, we are completely out of control. Add that to a FED that prints its own destiny and any monetary revolution from the common folk will be crushed. Sorry for crushing hopes and dreams!

Tue, 05/03/2011 - 18:16 | 1236015 Dangertime
Dangertime's picture

I think it's odd that tmosley has any money left after calls like his.

Tue, 05/03/2011 - 19:36 | 1236295 akak
akak's picture

I find it much odder that you continue in your relentless silver-bashing, pro-bankster, pro-fiat trolling, even though it is quite obvious that NOBODY here is buying your disingenuous disinformation and outright lies.  Your credibility here was long ago exhausted --- give it up already.

Tue, 05/03/2011 - 20:00 | 1236358 tmosley
tmosley's picture

Not everyone is an ultra leveraged newb like you.

I only hold physical.  There is no paper game that can be played to separate me from it.  

I have been "wrong" for about 2.5 weeks.  All of my bullish calls prior to that time are in the money.  But you wouldn't understand that, since you are a tenderfoot trader.

Tue, 05/03/2011 - 20:18 | 1236414 Dangertime
Dangertime's picture

Do all noobs double their money in two weeks?

Tue, 05/03/2011 - 20:26 | 1236445 Richard Head
Richard Head's picture

Your claims are about as believable as meth man's Ferrari.

Tue, 05/03/2011 - 21:39 | 1236609 tmosley
tmosley's picture

No, half of them do.

The other half loses all of their money.

You want to flip the coin again?

Tue, 05/03/2011 - 23:00 | 1236826 Dangertime
Dangertime's picture

If you think I flipped a coin, you are more clueless than I originally thought.

Wed, 05/04/2011 - 08:31 | 1237488 tmosley
tmosley's picture

NO, I don't think you flipped a coin, but you might as well have.  You claim to have turned your entire ten year investment strategy, which had been a raging SUCCESS around 180 degrees, and dropped your physical silver at the drop of a hat THIS TIME, but not any other time in the last ten years, when there have been numerous periods of silver being overbought, and looking "bubbly".

Look, you can keep claiming that you aren't a liar, but it is clear to all involved that you are.

Tue, 05/03/2011 - 21:13 | 1236560 Teamtc321
Teamtc321's picture

I'm not selling one fucking bit of my physical silver. Not happening.

Silver paper, ever chance I get to make a profit and buy physical.

Tue, 05/03/2011 - 18:54 | 1236172 monsterfiver
monsterfiver's picture

clearly troll talk

Tue, 05/03/2011 - 19:38 | 1236303 bruinjoe93
bruinjoe93's picture

Paper silver is a scam.  Want proof?

Here it is http://www.store.firstmajestic.com/

First Majestic Silver (AG) is sellling physical silver way over spot. As of 4:36 PM the spot price is $41.19/oz.  First Majestic is selling the silver they mine at $47/oz. 

The other silver sellers such as Northwest Terroritorial Mint is selling silver for a lot less but you risk not having delivery. You will have to wait 6-8 weeks for them to deliver.  In the mean time the Comex may default.

Tue, 05/03/2011 - 22:04 | 1236665 ninj4master
ninj4master's picture

Comex may default ? so if it's true, maybe, it may be tempted to fraud too ? i just ask

Tue, 05/03/2011 - 22:10 | 1236683 Global Hunter
Global Hunter's picture

First Majestic is usually close to spot even until last week if I've not mistaken.  Yikes.

Tue, 05/03/2011 - 23:41 | 1236954 A_MacLaren
A_MacLaren's picture

First Majestic sets it "price for the day", and then it is unchanged, unless prices are rising.  I've purchased from them during down price days and up price days.

Silver price today is US$47.00 per oz - Will potentially change tomorrow.

http://www.firstmajestic.com/s/FAQ.asp

Q   How do you determine your silver pricing?   A   The price of our silver is determined by our management. Instead of following hourly and daily price fluctuations we watch for the trends and price our silver accordingly.
Wed, 05/04/2011 - 06:23 | 1237211 Wackzingo
Wackzingo's picture

I actually live very close to the Northwest Territorial Mint and they sell it in their retail store without a wait. I have never purchased more than a hundred ounces at one time but they always have enough on hand for me to walk in/out same day.

Tue, 05/03/2011 - 17:20 | 1235800 Hephasteus
Hephasteus's picture

I knew he was a troll months ago.

Silver and gold buyers get theft protection. Silver and gold sellers get stolen from.

Pants pissers get pushy.

It's all fun and games when you just pay for shit with promises. When people want to make it real they are going to go emotionally nuts and then psychologically completely nuts. Don't forgive. Make em pay.

Tue, 05/03/2011 - 17:24 | 1235821 What does it al...
What does it all mean's picture

Months?  I think I only posted on silver related topics less than 4 weeks ago.  (And what a 4 weeks it has been...  Let's admit that.)  I don't even have any position in SILVER.  Come on, somebody else is making fortunes and losing fortunes.  Get your facts right!

 

Tue, 05/03/2011 - 17:22 | 1235825 High Plains Drifter
High Plains Drifter's picture

pants go brown? 

Tue, 05/03/2011 - 17:27 | 1235845 What does it al...
What does it all mean's picture

What a comeback!  At least some of the silver bugs have a sense of humor.  You aren't one of them.

Tue, 05/03/2011 - 17:44 | 1235891 mrdenis
Tue, 05/03/2011 - 17:49 | 1235900 What does it al...
What does it all mean's picture

You are in kindergarten?

Tue, 05/03/2011 - 17:51 | 1235908 High Plains Drifter
High Plains Drifter's picture

nose whipe?

Tue, 05/03/2011 - 18:20 | 1236023 Dangertime
Dangertime's picture

Brown pants or blood stained underwear, these longs have been CRUSHED.

Tue, 05/03/2011 - 18:35 | 1236085 Raynja
Raynja's picture

By crushed you mean a smaller profit than a couple days ago?

Tue, 05/03/2011 - 18:42 | 1236109 Sock Puppet
Sock Puppet's picture

Tyler can you add a Troll Button or Sock Puppet button?  Let the readers decide with a click of the button, not all this back and forth BS.  Reading the comments is becoming a big waste of time, very little value added.

Tue, 05/03/2011 - 19:12 | 1236232 Metropolis_Minx
Metropolis_Minx's picture

Tyler,

I second that request for the Troll Button. I'm getting tired of wading through the garbage to find the handful of posters I actually read and respect. A nice dynamite icon which goes *Boom* would be nice...and satisfying.

Tue, 05/03/2011 - 20:13 | 1236405 TreadwCare
TreadwCare's picture

ZeroHedge would do well to adopt the mod system employed by Slashdot.

Tue, 05/03/2011 - 20:50 | 1236513 floydian slip
floydian slip's picture

How about an 'ignore username' funtion?

 

Tue, 05/03/2011 - 21:45 | 1236619 tmosley
tmosley's picture

Yup.  That is much better.  I would have put long juan silver on ignore after his third post, and we never would have had this nastiness.

Even Jack got kicked out of Fight Club once.  It wasn't a central authority that got rid of him, but the combined efforts of everyone.  Same here.  If everyone ignores you, you are effectively banned.

Tue, 05/03/2011 - 18:40 | 1236108 Temporis
Temporis's picture

You seem to think this dip is a "forever" thing, dontcha?

This is temporary.

I for one will be happy to see it drop even further because that just means I can buy more and more silver for less paper...

Tue, 05/03/2011 - 20:23 | 1236444 Dangertime
Dangertime's picture

I will be a big buyer in the low $30's.  On this we agree.

Tue, 05/03/2011 - 21:46 | 1236627 tmosley
tmosley's picture

I guess they don't pay taxes in Never Never Land.

Tue, 05/03/2011 - 23:11 | 1236848 Dangertime
Dangertime's picture

Not physical you moron.  Too bulky, I'd rather hold gold.

Wed, 05/04/2011 - 08:32 | 1237492 tmosley
tmosley's picture

lol, you claimed you were planning on buying back your physical silver position earlier.

Guess that was yet another lie

Tue, 05/03/2011 - 18:51 | 1236149 Whalley World
Whalley World's picture

I have been waiting for JPM to mark down prices like Walmart,and to my delight, just loaded the boat and buddies bought 2 100 oz bars, getting the bro's in to buy on the dip.

Crushed, not likely

Tue, 05/03/2011 - 18:59 | 1236198 High Plains Drifter
High Plains Drifter's picture

hey sock puppet, you don't understand phsyical do you?  blow out your size 58 shorts pal..........

Tue, 05/03/2011 - 19:04 | 1236216 cosmictrainwreck
cosmictrainwreck's picture

"size 58's" LMAO yer killin' me here, HPD.......

Tue, 05/03/2011 - 22:06 | 1236680 Sock Puppet
Sock Puppet's picture

You talking to me?

Tue, 05/03/2011 - 21:52 | 1236626 narapoiddyslexia
narapoiddyslexia's picture

Dangertime says the longs have been "CRUSHED." Hmmm... I bought a couple thousand ounces at $22, plus some change, each. Half was physical, half was SLV [the SLV was a buck cheaper. $22 was the average]. I sold the SLV last week at 47.17 Thus, I ended up with a lot of actual silver, for free. In my bank deposit boxes. I think that means I'm long. Where exactly have I been CRUSHED? I do not exactly feel like I've been CRUSHED. I'm waiting for the clowns in the "investment world" to give me another chance. Clowns like Dangertime. So I can be CRUSHED once more. I really like being CRUSHED. Silver is disappearing, and folks like me are the reason why. If just 500k people each buy 2k oz of Ag, its is all gone for a long time, as only about 180k oz are available every year for investment. The CME paper market is a clown circus, but a clown circus that appears capable of giving me another chance. Go Clowns!

Tue, 05/03/2011 - 23:12 | 1236850 Dangertime
Dangertime's picture

Link to your post where you sold or it's BS.

Tue, 05/03/2011 - 23:34 | 1236924 akak
akak's picture

The level of your discourse with others here is rapidly sinking towards the equivalent of "I know you are but what am I?"

Tue, 05/03/2011 - 17:34 | 1235873 zeroman
zeroman's picture

question;  if you have slv or pslv versus physical, what do the prospects for these two look like after the beating the last two days?

Tue, 05/03/2011 - 21:11 | 1236553 What does it al...
What does it all mean's picture

Sorry I can't help you here.

 

But the fact that no body answered your simple and straight forward question indicates that most people here already made up their minds, and/but aren't willing to help.

Sad, isn't it?

Tue, 05/03/2011 - 17:18 | 1235803 Rynak
Rynak's picture

tmosley, your almost obsessive desire to reply to them isn't helping. In fact, your behaviour almost looks as if you ENJOY fighting with them.

Tue, 05/03/2011 - 17:23 | 1235829 CrockettAlmanac.com
CrockettAlmanac.com's picture

Not that there's anything wrong with that. I enjoy troll baiting myself but the newest herd has been so dull. I miss JB! But gold breached $1450 so he never can return (sniff, sniff).

Tue, 05/03/2011 - 20:10 | 1236383 Ricky Bobby
Ricky Bobby's picture

Johnny Bravo is a fading memory. Always a new lackey to take his place. It does point out a real problem though. The number of low life scum willing to follow orders with out question. Way more camp guards I am afraid then true brave men. 

Tue, 05/03/2011 - 17:36 | 1235871 tmosley
tmosley's picture

I do enjoy fighting with them.

And these aren't regular trolls.  I have dealt with regular trolls for years.  These guys have an agenda, and behave accordingly.

Tue, 05/03/2011 - 17:45 | 1235893 PY-129-20
PY-129-20's picture

It is a Fight Club. And I have to agree. They seem to have an agenda.

Tue, 05/03/2011 - 17:45 | 1235895 What does it al...
What does it all mean's picture

And you don't? 

I swore on whatever you want, I didn't trade anything related to gold/silver, long/short, ETF/Future/Physical.  But that doesn't change the fact that it dropped 6 points.

Pick on someone you can win, Mr. 1 year and 9 weeks....

You are on!

Tue, 05/03/2011 - 18:03 | 1235951 Pladizow
Pladizow's picture

What does saying you did or did not do prove to anyone here?

It is pointless to make such comments.

Tue, 05/03/2011 - 18:03 | 1235962 What does it al...
What does it all mean's picture

Welcome to the real world.  People here lost a lot of money today.  (silver bugs.)  And they think I took their money.  I didn't, but somebody did.  

I can't do it, your picture is too distracting...

Tue, 05/03/2011 - 18:14 | 1235994 Pladizow
Pladizow's picture

Thank you for welcoming me to the real world. (Sarc)

If I own physical and did not sell, what did I lose?

Tue, 05/03/2011 - 18:43 | 1236117 nope-1004
nope-1004's picture

You lost the "perception" of wealth, as measured in ever inflating Benocide dollars.  And that's what the bankster criminals want you to believe, that you lost money today.

Truth is, they lose a TON of money everyday when people trade fiat in for physical, regardless of crimex spot price.  They are losing huge, because faith in the system and corrupt elite is gone.  The drop on Sunday night in the Asian market and the drop today clearly show the trouble they are in.  Three margin hikes in a week?  Umm... ya, kinda desperate, I'd say.

Adrian Douglas writes some good stuff about volume exceeding OI.  It's a complete scam right now.  HFT algos running the SLV, but what is SLV?  It has no silver.  Total fraud.

 

Tue, 05/03/2011 - 19:29 | 1236279 Shell Game
Shell Game's picture

Incorrect.  The value in my physical gold and silver is not diminished by gyrations in fiat currency movements.  In the absense of hard money government, there is no loss of underlying PM value.  It's much like that MC commercial:

"2 x 1oz. S. African Krugerand.........$3,150.00

10 x 1oz. Silver American Eagles.............$420.00

Moving oneself from the Ponzi fiat system..... Priceless!"

Tue, 05/03/2011 - 20:21 | 1236425 nope-1004
nope-1004's picture

Incorrect?  So you agree that paper PM's are worthless, as I do, and as I said, yet tell me I'm incorrect?

Can you read?

 

Tue, 05/03/2011 - 21:59 | 1236659 ColonelCooper
ColonelCooper's picture

Inaccurate kneejerk response, Bitchez!

Hint, Hint: Read the WHOLE post before you click, "Reply".

Wed, 05/04/2011 - 20:02 | 1241093 Shell Game
Shell Game's picture

I stand corrected, gents!

Thu, 05/05/2011 - 01:19 | 1242077 lnardozi
lnardozi's picture

Opportunity cost my friend.

You MISSED OUT on the OPPORTUNITY to go straight to Zero. You can't do that with PMs, only with stocks and ETFs.

So, no saying you didn't miss out.

Nice Breasticles.

 

 

Tue, 05/03/2011 - 18:17 | 1236006 Hephasteus
Hephasteus's picture

You can lead a horse to losses but you can't make him book em for ya.

Tue, 05/03/2011 - 18:47 | 1236145 Temporis
Temporis's picture

You dumb fucker... people ONLY lost money if they sold their silver.

I believe the majority of the people here are still holding on to what they have and plan on BTFD.

I think all the inbreeding is effecting the Troll population... they just keep getting dumber and dumber...

Tue, 05/03/2011 - 20:19 | 1236419 Dangertime
Dangertime's picture

That is a nice disney rationalization.

Fine, let's change the wording a bit...

 

Your net worth sure sucked ass today.

Tue, 05/03/2011 - 20:53 | 1236515 trampstamp
trampstamp's picture

not really.. A bunch of us are making money on the ride down as well. I dont think longs, like myself, are dumb enough to not take advantage of this opportunity to make money to the downside. Please!

Thu, 05/05/2011 - 01:23 | 1242084 lnardozi
lnardozi's picture

No, I'm KICKING myself for not selling out at the local coin shop @49. I could have bought a HOUSE, and bought MORE physical than I had the first time - if only I'd timed it right. Of course, that would put me in the paper world and I could lose EVERYTHING, just like all those other schmucks who buy paper. Well, maybe I don't feel so bad now, no matter what I lost.

Tue, 05/03/2011 - 21:25 | 1236576 Teamtc321
Teamtc321's picture

Now your pissing me off mfer. I could buy and write you off on my fiat taxes punk. I tore ass up on slv today and will buy more physical with it you smart ass punk.

If you where making money trading you would buy some physical with all the knowledge that is on ZH instead of being a smart ass bitch.

Keep buying or shut the fuck up.  

Tue, 05/03/2011 - 23:03 | 1236829 Dr. No
Dr. No's picture

Let me guess, you also want tbtf to mark-to-market?

Tue, 05/03/2011 - 19:11 | 1236238 Abitdodgie
Abitdodgie's picture

You could say we lost a lot of money witch is true ,but if you bought silver at $15 then it is fair to say it was just an adjustment in inventory pricing

Tue, 05/03/2011 - 22:04 | 1236664 ColonelCooper
ColonelCooper's picture

Thank you.  Let's revisit in a couple of weeks, and see if this entire thread has ANY relevance whatsoever.

Tue, 05/03/2011 - 19:44 | 1236314 High Plains Drifter
High Plains Drifter's picture

sir, the price goes up and the price goes down. such is the nature of this game. i hold for the long haul. physical is the name of my game. i learned that game a long time ago from people like franklin sanders. true bugs don't do much selling. that too is the nature of this game. besides you said yourself you don't have any skin in this game, so why get on here and attempt to agitate and argue with the metal heads. we all have a lot of bark on us by now after all of these years and such arguments are really unnecessary to be perfectly honest. it is amazing just how many people simply do not like metal heads. for me, that is part of the juice and the ultimate complement for me and and also knowing that what i do, is a contrary move compared to the beast system that is now in place, of which i have no trust in nor any faith in. i know, my mind is not right and if i don't like this country i should move. i know, i know..........

Tue, 05/03/2011 - 20:03 | 1236370 tmosley
tmosley's picture

Neither you nor anyone else took my money.  It is still in my safe.

You are just saying it is worth less Monopoly money now.  BFD.

Tue, 05/03/2011 - 20:19 | 1236426 data_monkey
data_monkey's picture

I lost a lot of money today. I got paid and it's sitting in my bank account...while the fed and government destroy it.

I saved a lot of money today too. I didn't sell my PM's and they're still in the safe...same as they've been.

If I leave each where they're at, which one will be worth more a year or two from now and which will be worth less (worthless)?

Tue, 05/03/2011 - 17:58 | 1235942 disabledvet
disabledvet's picture

i will say this:  "managing risk is always an agenda."  apparently that means "buy copper!"  in the meantime "wtf's going on with GM stock" you Bulgarian Bolshevik you?

Tue, 05/03/2011 - 17:28 | 1235837 Magnix
Magnix's picture

Sheesh, you think you're smarter than everybody?! Just be cool, there are alot of newbies who want to be involved to protect themselves ahead of time when dollar or America crashes. Shut your yap and show some respect for others.

 

Tue, 05/03/2011 - 17:32 | 1235855 What does it al...
What does it all mean's picture

Magnix, you have been here for 3 weeks and 5 days.  I don't know how long you have been trading, but I think I beat you by at least 10 years.

 

And Yes, I think I am smarter than most of you.   At least today!

 

 

Tue, 05/03/2011 - 18:06 | 1235965 Raynja
Raynja's picture

you repeatedly claim you have no position in silver and then claim you're smarter than everyone? At least claim that you were smarter cause you sold above 48. Additionally, almost every commodity that has made a quick run up in price has a pullback before continuing the march. so do you have a point that the price fell back to where it was about two weeks ago?

 

Tue, 05/03/2011 - 18:14 | 1236008 What does it al...
What does it all mean's picture

I am smarter because I didn't have Silver position that made a 20 points roundtrip in the last 4 weeks.  And today, it completed that trip and my prediction.

I am smarter because I don't buy and hope, but since 3 weeks ago, pointed out how bias ZH coverage really is and that this will hurt a lot of people, and were proven right.  

Tomorrow, I have no idea and since I don't have any silver, don't really care.

Tue, 05/03/2011 - 18:38 | 1236096 Raynja
Raynja's picture

glad you dont buy and hope, for a minute i thought you were in stocks and bonds counting on the bernank put

Tue, 05/03/2011 - 19:19 | 1236257 kinik77
kinik77's picture

Well, I bought physical, as much as I could afford at $21 so I guess that makes me a dumbass that lost a lot of money today. : ( .......

Tue, 05/03/2011 - 19:44 | 1236322 knowless
knowless's picture

the people it will hurt are those who don't understand the gravity of our current situation, and attempt to trade for illusory profit besides/instead of hard goods, land, and security of their family. It is no ones duty to ensure that every individual realizes the hidden mechanations of the american empire, as evidenced by the jubilant crowds of retarded children chugging rum in stars and stripes dr'seuss hats in the capitol after the current incarnation of goldstein has been "killed", there are too many people to save.
If anyone wouldn't realise that their possessions are their livelyhood and their life, and betting them in a rigged game could have consequences, i'm pretty sure something called natural selction is coming for them. I don't have the money to play, and don't do the whole debt thing, so I sit and watch.
attempting to point out that people have been "harmed" by ZH propaganda is meaningless, we live in a perpetual war state who taunts the nations we import from, with little to no manufacturing base to convert to wartime production.. it is insane, so by whatever means people can take back the power to control their lives materially seems necessary at this point.
whether gold or silver in the end truly matter is disputable, as more people will own guns, but if the government fails, than there will still need to be a viable means of exchange for trade..

I am not posting anything new, and it annoys me that any of the above seems relevant to me, but your glorious call is only in relation to the USD nominal price for silver, so please, STFU.
                      sorry for the wall of text.

Tue, 05/03/2011 - 20:09 | 1236375 tmosley
tmosley's picture

Were you smart for not owning any silver for the ten years prior to the last two weeks?

Christ, you trolls have an attention span less than that of a gnat.  No wonder you losers get so pissed off.

Tue, 05/03/2011 - 21:00 | 1236529 floydian slip
floydian slip's picture

A superior man is modest in his speech, but exceeds in his actions.

-Confucius-

Tue, 05/03/2011 - 21:18 | 1236558 What does it al...
What does it all mean's picture

In general, I understand and agree with you.  But sometimes, I am just fed up with idiots and damn it, I am right and tired of being humble.

I am definitely not a superior man today.

Tue, 05/03/2011 - 21:53 | 1236638 tmosley
tmosley's picture

What action did you take, that makes you so great?

You said it yourself--you have done nothing.

Might as well be a brick in the wall.  A real and literal tool.

Tue, 05/03/2011 - 22:32 | 1236692 What does it al...
What does it all mean's picture

The market is bigger than me, you and the entirety of the ZH community.

Just because I didn't get involved, doesn't mean that I wasn't right or that it doesn't matter.

However, I am glad you held onto the inventory like you claimed, didn't sell at 48, nor buy it at 40....  You seems to know the future, ALWAYS! I just claim that I was right for the past 4 week's path.

Somebody out there was selling size at 45, 44, 43, 42, 41 and even 40.

Good luck.

Tue, 05/03/2011 - 22:39 | 1236772 tmosley
tmosley's picture

Uhhh, yeah, actually, it does mean that it doesn't matter.

Your wealth at the end of the day will tell you how right or wrong you are.  If you don't trade your observations in some way, then you are just a gibbering ape in a suit.  Funny to look at, but useless.

And your inaction lost you ten years of gains.  Gains that are larger than just about anything else that could have been had in the same time.  You'll never hit the ball if you don't swing the bat.

Tue, 05/03/2011 - 18:11 | 1235989 Sean7k
Sean7k's picture

I'm not sure why everyone is picking a fight with you. Your comment was on topic and it was an easily observable and tradeable action in silver. Silver is down from 49 to 41. 

TM is correct in his observations as well. The fundamentals are unusual. 

Most important, depending on your opinion- this is either a great entry point, a place to hold and wait or a time to sell. We're all adults here. What does it al.. is not going to make me money or lose me money.

It would be nice to have some extendable ears when JPM and HSBC get together, but we don't. We study and watch and glean what we can, but in the end, we go with our gut. I'm very happy with silver and find zero reason to sell it. In fact, I loaded up on more today. Wouldn't be caught dead trading paper- too dangerous for me. 

I like to sleep at night and be productive during the day and you can't do that obsessed over a trade. The dollar is worth less and less. They keep printing more and more. It's desirability as a reserve currency is failing. This is all I need to know- oh yeah, and they're running out of physical silver. Enjoy the profits boys, I hope it works out for all.

Tue, 05/03/2011 - 18:20 | 1236019 Hephasteus
Hephasteus's picture

And an entire years worth of mining supply is trading in SLV etf in one day. And it doesn't mean a goddamn thing.

Tue, 05/03/2011 - 21:51 | 1236155 Sean7k
Sean7k's picture

Last week, they were trading well OVER one years quantity. When the numbers go from 60,000 to over 300,000 contracts in a day, it just fills my heart with...silver.

Tue, 05/03/2011 - 18:17 | 1236020 Bay of Pigs
Bay of Pigs's picture

Good to see back. Nice work on the monster box. Do you use Tulving?

Tue, 05/03/2011 - 18:49 | 1236142 Sean7k
Sean7k's picture

Thanks. Absolutely. Tulving has IRA one ounce coins for 1.19 over spot. Delivery on May 14th. Hard to beat the price or service.

Tue, 05/03/2011 - 19:03 | 1236200 High Plains Drifter
High Plains Drifter's picture

old man tulving has great connections....

Tue, 05/03/2011 - 18:20 | 1236024 Ignatius J Reilly
Ignatius J Reilly's picture

because you are coward with no skin in the game?  hmmmm doesnt seem smart to me.

Tue, 05/03/2011 - 18:21 | 1236030 Dangertime
Dangertime's picture

Anybody is smarter than $49 bag-holders.  LOL!!!!!

Tue, 05/03/2011 - 19:02 | 1236206 High Plains Drifter
High Plains Drifter's picture

is that all you got? 

Tue, 05/03/2011 - 20:16 | 1236406 tmosley
tmosley's picture

Right, because everyone who owns silver bought it in the 48 hour period that it was above $49.

You are so new to this shit the text on your posts displays as green.

Tue, 05/03/2011 - 21:24 | 1236577 Hephasteus
Tue, 05/03/2011 - 19:20 | 1236260 JohnG
JohnG's picture

Smarter eh??  Think again asshole.  Keep it up.  Stupid fuck.

Trolls are all stupid dumb fucks, probably live with mommy in the basement.

Tue, 05/03/2011 - 17:59 | 1235945 disabledvet
disabledvet's picture

my bad.

Tue, 05/03/2011 - 17:34 | 1235864 topcallingtroll
topcallingtroll's picture

Go easy on him mose

He is still in training.

Tue, 05/03/2011 - 18:14 | 1236007 Dangertime
Dangertime's picture

Says the $49 silver bag-holder.

Tue, 05/03/2011 - 22:44 | 1236796 Eally Ucked
Eally Ucked's picture

Do you really think all those guys here purchased their silver at 49$? They talking about that for years so their average price is much lower. Of course nobody likes price drops like that, that's normal. What is your strategy of investment? And how you managed your money during last 3 years? Just tell us

Tue, 05/03/2011 - 22:56 | 1236812 akak
akak's picture

Do you really think all those guys here purchased their silver at 49$?

Exactly!  Just like the same tired and disingenuous assholes who invariably try to belittle holding silver by pointing to how much it fell since its peak of near $50 in early 1980 --- never mentioning that it was only AT that peak for a single day, and even within 50% of that peak for less than six weeks.  I always want to throw back in their duplicitous faces "Well, what about the VASTLY larger number of people who bought silver NOWHERE NEAR its peak?"  But of course, their agenda-driven PM-bashing will never allow them to publicly acknowledge that fact.

Tue, 05/03/2011 - 23:15 | 1236855 Dangertime
Dangertime's picture

I have been long PM's for the last ten years, my physical I generally held until finally selling the silver this year.

Outside of that, I've been paper trading the metal miners up until December at which point I went to all cash and just waited.  Then I saw the silver go bonkers and bought the puts.

I sure as hell didn't call the buyers names until the whole world here attacked me when I cautioned people about buying above $40.  I started civil, well now you all earned the balance sheet hit you all just took.

Wed, 05/04/2011 - 08:38 | 1237510 tmosley
tmosley's picture

Bull shit.  You didn't advise caution.  You advised everyone to sell all of their silver.  You claimed we would be able to buy it back at lesser levels later.  You made these proclamations with the assumption that no-one here would realize any gains--that long term holders would, in fact, have to give up as much as HALF of the proceeds from the sale, as YOU YOURSELF WOULD HAVE TO, as you claim to have bottom ticked the market and held since.

You are an irresponsible shit at best, and fucking lying sack of troll shit at worst.  No-one is interested in your continued presence.  Go away.

Wed, 05/04/2011 - 03:06 | 1237198 Urban Redneck
Urban Redneck's picture

My first (and most expensive /oz) silver bar was received as gift in the early 80's when silver was around $16/oz.  Kitco doesn't even have charts that far back.  My paper in silver miners is in actual paper certificates not DRS/DTC/MERS-lite crap.  If silver dropped 50% from here, I would still have to realize substantial capital gains exiting positions, and pay the US tax man who I am trying to starve to death.  In addition, since Comex doesn't like coughing up actual bars, re-entry into my physical position might pose difficulties, and the paper certificates aren't even an option anymore.  I’m actually not comforted when the sizeable "insurance" part of my portfolio is performing well- insurance is supposed to cost money not make it.  Now that I have moved out of the US, I might open new positions through non-US tax vehicles, but since I have already a decent position I would wait until the current supply/demand imbalance works itself out.  Since my expenses are now in CHR and BRL, I converted the last of the spare FRNs I had left in US banks into rolls of maples the day of the Japanese earthquake, at what I thought was a horrible technical entry point.  There is still a significant downside in silver before dollar cost averaging becomes an issue even on that position.  In the meantime the volatility is good for shits and giggles, but since no one is addressing, much less solving, the underlying structural problems, I am not even looking for alternatives to my PM positions.

Tue, 05/03/2011 - 17:15 | 1235792 Ruffcut
Ruffcut's picture

The pressure that piddly traders are going on top of your handlers balls.

Tue, 05/03/2011 - 17:19 | 1235798 toothpicker
toothpicker's picture

Physical pressure. The real thing. The sort of thing a fiat troll detest.

Tue, 05/03/2011 - 17:32 | 1235854 lieutenantjohnchard
lieutenantjohnchard's picture

hey, let's not be too rough on this guy. on another thread he offered me an excellent tip to buy low and sell high. anybody that can cut through the forest with that kind of market wisdom and insight deserves a hat tip. i for one eagerly await more pearls of wisdom from him.

Tue, 05/03/2011 - 18:02 | 1235956 Pladizow
Pladizow's picture

BLA BLA BLA BLA!

Tue, 05/03/2011 - 18:45 | 1236123 lieutenantjohnchard
lieutenantjohnchard's picture

profound.

Tue, 05/03/2011 - 17:55 | 1235918 InconvenientCou...
InconvenientCounterParty's picture

The supply and demand "pressure" implies a classical market. The commodities markets are evolving from a "fountain of youth" for banks into a venue for open geo-political warfare. There will be casualties and collateral damage.

You can argue relative merit of various investments vs. silver in a fiat paradigm all day but the writing is on the wall for money as we know it today.

Tue, 05/03/2011 - 18:08 | 1235971 What does it al...
What does it all mean's picture

Finally... somebody with a brain... 

+1

Tue, 05/03/2011 - 18:13 | 1236003 Pladizow
Pladizow's picture

I said, "No +1's for You!"

Tue, 05/03/2011 - 19:36 | 1236298 MiguelitoRaton
MiguelitoRaton's picture

Pressure of the physical, pressure of the need to deliver, pressure of potential impending default. If we assume that they are playing paper games that are emptying the physical stores, then that does create pressure. This is not, however, the pressure in typical trader's vernacular of buying/selling pressure. BTW, I don't think you are a troll for asking this question, it is reasonable to ask when the paper traders seem to have their way with the market through bear raids at will and without raising the ire of the regulators. In that respect no trading or regulatory pressure seems evident.

Tue, 05/03/2011 - 17:16 | 1235787 topcallingtroll
topcallingtroll's picture

I am watching this closely. What an epic battle!

Speculation is the greatest sport of all.

Except for poon chasing.

Tue, 05/03/2011 - 17:21 | 1235808 gorillaonyourback
gorillaonyourback's picture

word up for the poon chasing

Tue, 05/03/2011 - 18:27 | 1236054 Dangertime
Dangertime's picture

Poon chasing is definitely tied with speculation.

Tue, 05/03/2011 - 18:58 | 1236185 akak
akak's picture

I used to wonder if your paymasters paid you to troll by the word, or by the number of posts (assuredly it was not by meaningful content, which is nil, or by the amount of honest information expressed, which is negative). 

The answer, however, is becoming clearer and clearer all the time.

Tue, 05/03/2011 - 17:19 | 1235814 freemarketpopulist
freemarketpopulist's picture

lolz x 10

Tue, 05/03/2011 - 17:33 | 1235861 What does it al...
What does it all mean's picture

It's so much fun to watch these guys being manipulated by most likely JPM/SAC/DE Shaw.  

But +1 on poon chasing.

Tue, 05/03/2011 - 18:03 | 1235964 Pladizow
Pladizow's picture

Trolls dont have the right to +1

Tue, 05/03/2011 - 18:25 | 1236056 Dangertime
Dangertime's picture

+69 then mofo.

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