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Thu, 05/05/2011 - 15:41 | 1244669 FOC 1183
FOC 1183's picture

en masse

Thu, 05/05/2011 - 15:55 | 1244771 supernickel
supernickel's picture

Just came back from vacation. Is silver at $60 yet?

Thu, 05/05/2011 - 16:06 | 1244829 Greater Fool
Greater Fool's picture

You mean $6?

Thu, 05/05/2011 - 16:38 | 1245062 supernickel
supernickel's picture

I guess I should have checked the internet occasionally during my vacation.

Thu, 05/05/2011 - 16:16 | 1244933 Long-John-Silver
Long-John-Silver's picture

Is the USD worth anything?

Thu, 05/05/2011 - 15:41 | 1244670 augie
augie's picture

unicorn projectile vomit.

Thu, 05/05/2011 - 15:43 | 1244685 EvlTheCat
EvlTheCat's picture

LOL!! +++

Thu, 05/05/2011 - 15:53 | 1244733 Hugh G Rection
Hugh G Rection's picture

That or a clown load


(_(_)====D- - --- -- ---

Thu, 05/05/2011 - 15:55 | 1244749 augie
augie's picture


Thu, 05/05/2011 - 15:57 | 1244765 Dont Taze Me Bro
Dont Taze Me Bro's picture

This is what happens when everyone hits the buy and sell buttons at the same time.


Thu, 05/05/2011 - 15:57 | 1244766 wirtschaftswunder
wirtschaftswunder's picture

There's sugary goodness at big rock candy mountain Charlie

Thu, 05/05/2011 - 15:55 | 1244767 tmosley
tmosley's picture

Awww, is someone having a bad Christmas?


Thu, 05/05/2011 - 16:04 | 1244813 wirtschaftswunder
wirtschaftswunder's picture

It's a happy day with ZSL

Thu, 05/05/2011 - 16:08 | 1244873 Cone of Uncertainty
Cone of Uncertainty's picture

Bought some this morning right at the open, now I'm up 20%+, haha, this shit is easy.

Thu, 05/05/2011 - 17:19 | 1245247 nyse
nyse's picture

Thats funny. You even got the nuts on there and everything! "Its not small, its thin."

Thu, 05/05/2011 - 15:53 | 1244735 tekhneek
tekhneek's picture


i'm diggin' the unicorn themes lately. let's keep this goin...

unicorn rainbow colored ass glitter.


Thu, 05/05/2011 - 16:02 | 1244803 augie
augie's picture

seriously i'm laughing so hard my nipples almost blinded my dog.

Thu, 05/05/2011 - 16:05 | 1244824 wirtschaftswunder
wirtschaftswunder's picture

Gold is down $48? Holy crappola.

Must be Mubarak Gadaffi and Asad bailing

Thu, 05/05/2011 - 16:07 | 1244866 tekhneek
tekhneek's picture

Eric Sprott on KWN talking about silver:

"We have a larger physical position now than we ever have..."

He just took paper profits to acquire physical on this dip.

Thu, 05/05/2011 - 16:10 | 1244875 tekhneek
tekhneek's picture

like cuttin' glass eh?

Thu, 05/05/2011 - 16:16 | 1244929 augie
augie's picture

not in the least. seeing as i just failed an english final, picked up my s1000 after the first service (now i can get all 192 bhp out of the damn thing), made enough on 10 spy puts to cover my losses in silver, and have an accounting final tomorrow I'd say i have more adreniline running through me than charlie sheen at a bolivian nightclub on a sunday morning.

as a concequence of all the excitment my nipples get hard super easy. no homo.

Thu, 05/05/2011 - 16:36 | 1245067 tekhneek
tekhneek's picture


Thu, 05/05/2011 - 16:48 | 1245113 Korrath
Korrath's picture

+ 100  :-D

Thu, 05/05/2011 - 16:59 | 1245143 Ident 7777 economy
Ident 7777 economy's picture

not [sic] in the least. seeing as i [sic] just failed an english final, ...

- - - - - - - - -

WHY are we not surprised ...


Thu, 05/05/2011 - 17:41 | 1245301 augie
augie's picture

kinda lonely up in that tower, why don't you join us for a couple of laughs? Most people need it after a day like today. If it helps, i dont mind being the joke.

Thu, 05/05/2011 - 15:41 | 1244673 Hushups
Hushups's picture

<HELP> for explanation.


"Where is the HELP key!?!"

Thu, 05/05/2011 - 15:45 | 1244679 Mongo
Mongo's picture

Press ANY key

Thu, 05/05/2011 - 15:46 | 1244706 homersimpson
homersimpson's picture

Where's the ANY key?

Thu, 05/05/2011 - 15:46 | 1244709 Rynak
Rynak's picture

ESCAPE key not responding.

Thu, 05/05/2011 - 15:50 | 1244715 Problem Is
Problem Is's picture

"Where is the <ANY> key??"

Timmay Jeethner email to

Thu, 05/05/2011 - 16:25 | 1244893 Zero Govt
Zero Govt's picture

Where's the CME, Soros and Dump keys?

You know where the Big Hedgies dump their Silver perfectly timed with the CME's calamity clown cascade of margin hikes dumping private investors in the shit... the 'Wham Bam' co-ordinated double-punch between the legs of small investors to create a fabulous short for a man-made price collapse in the Silver market

presumably the porn-surfing SEC have droped their hankies and are 'on the case' of this co-ordinated man-made market action (manipulation)???

CME was claiming it was to 'reduce volatility' ...well that (price collapse) worked out really fuking well didn't it?!!! 

Do read ex-CME crone Robert Koppels latest book on "the irrational minds of investing" being promoted on CME's very own website... maybe he can explain the irrationality of 5 margin hikes in 8 days from his bum-chums at the CME (Clown Market Exchange) and what possible rational there was for the absolute farce? 

Whoever could have profited from such irrationality at CME? We should ask George Soros or maybe Goldman Sucks who benefitted from regulatory changes for settlements from annual to monthly which bled AIG dry and caused their collapse. Another case of changing the rules and someone being in prime position to pick others pockets 

But of course the Big Hedgies (Soros is a buddy, indeed funder, of Chicago Commie Obumsnake) knew nothing about the impending calamity clown show of cascading farce in CME margin hikes did he??? No co-ordinated 'One Two' pull the plugs out of the market (manipulation) to stiff a(nother) market by insider dealings

Let's hope all private investors fleeced on the stock exchanges and have exited will now also press 'CME' and 'Dump' too and leave CME sucking wind just dealing with the Big Hedgies who can go fuk each other on the empty stock exchanges and running on empty Chicago Merchantile Exchanges too

Dump CME

Thu, 05/05/2011 - 17:01 | 1245147 Tracerfan
Tracerfan's picture

Anyone who puts any money into futures on any CME exchange ought just flush it down the toilet.  At least there's no transaction cost with a flush, just the water.

Get phyiscal.  Not even one tenth of one percent of people have gold or silver.

When fiat's value goes down hard, those who are in physical will be the only ones standing.

Thu, 05/05/2011 - 17:08 | 1245201 Zero Govt
Zero Govt's picture

let's hope all private investors heed your wise words and Dump the CME after the stink of this Big Hedgy Big Exchange pincer movement to collapse the Silver price

there seems to be not a single national institution in the country that isn't rigged against Joe Public fuk 'em ...lets deal small and local and leave the elite parasites holding each others empty ball sacks and fuking each other over


Thu, 05/05/2011 - 17:17 | 1245228 Abiggs
Abiggs's picture

Keep telling yourself this until you force yourself to forget that your coins went from $50 to $34 in less than a week; I bet you had it all figured out a week ago lol

For some reason folks here see (wish) this doomsday scenario playing out within the next 5 years - same thing happened in the 30's; history tends to repeat itself...

Thu, 05/05/2011 - 17:41 | 1245316 DosZap
DosZap's picture


I hope it goes down another $20.00, and ggold drops another $300.00.

My butt will be buying big time.

Face it.

Our currency is worthless............this is just a sham, and in the end we will win.

The $ will make a bounce, and FlukCex can do what it will.

FUNDOS are same, and are getting worse by the day.

So what's your answer to Let there be Games?.

I prefer to hold things that always will have value, when I know fiat will not.

I am just holding on, till we "Break ON Through, to the Other Side",yep,yep,yep,yeah!!!!!!!!!!!!!!.

We are but Riders on the storm.


Thu, 05/05/2011 - 18:21 | 1245412 Zero Govt
Zero Govt's picture

Abiggs  "..force yourself to forget that your coins went from $50 to $34 in less than a week; I bet you had it all figured out a week ago lol"

I think those that own coins don't give a flying fuk what the US Dollar price of their coins are, be it $25 or $125. The point of holding the hard stuff is wanting 'out' of the rice paper stuff from the Fed and the CME/Crimex

For the record i thought Silver was going to over $60 last week. The 'purely coincidental' double pulling of the rug from under the markets feet of Big Hedgies dumping their Silver and the Big Exchange (CME) hiking margins 5 times in 8 days in the most farcical institutional behaviour I have ever seen or heard of in business history is yet another feather in the caps for those that hold physical

Trade paper or own physical ...after this week the now trashed CME have just put up a huge neon sign which one has good honest value and which one is a worthless snake pit 

Thu, 05/05/2011 - 15:48 | 1244686 hedgeless_horseman
hedgeless_horseman's picture

It is under the left index of the JPY shorts.

Thu, 05/05/2011 - 15:46 | 1244689 DonnieD
DonnieD's picture

<FUCK> to make it stop

Thu, 05/05/2011 - 15:47 | 1244695 Hook Line and S...
Hook Line and Sphincter's picture

That's the ejection seat you're looking for, and it was removed before the last flight.

Sorry, but this plane is going down with you in it.

Thu, 05/05/2011 - 16:09 | 1244825 Mercury
Mercury's picture

Those sexy Yen shorts that sold in so many pretty colors just a few weeks ago (you can wear them to...anywhere!) are now only available in brown.

Thu, 05/05/2011 - 15:43 | 1244683 Eagle Keeper
Eagle Keeper's picture

Oil off 10+ bucks. It's amazing how fast supply & demand changes....

Thu, 05/05/2011 - 15:47 | 1244699 CPL
CPL's picture

Took six hours.  Suddenly I don't need to fill up the tank in my car.

Thu, 05/05/2011 - 18:09 | 1245399 gmrpeabody
gmrpeabody's picture

And while I was sitting in the SUV deciding I really didn't need any more gas..., I re-thought that perhaps the $ really IS the best currency in the world.

Thu, 05/05/2011 - 15:50 | 1244712 Sudden Debt
Sudden Debt's picture

Maybe 30% of the chinese population got the day off today and didn't have to drive to work? Could be he?


Next we'll see food prices get whacked ;)

vegetables in general have a 30% oversupply because south american harvest came late and american harvest earlier thant expected. They now overlap and are causing prices to drop.

So go short anything on rabbit food and go long to Q3 when it goes down 25%


Thu, 05/05/2011 - 18:52 | 1245551 DosZap
DosZap's picture

S D had little to do with it.

The CRIMEX takedown is the culprit.

When most of the Commods went over board, oil followed.

What makes me ILL, is every thing MY country stood for up until 2008, in a Rule of law sense, has gone down the shitter.

We are run by Chi Town hustlers, and thieves.

This, is NOT America.

Thu, 05/05/2011 - 15:43 | 1244684 Sophist Economicus
Sophist Economicus's picture

They look so pretty when they all come together....

Thu, 05/05/2011 - 15:54 | 1244716 nevadan
nevadan's picture

Like the "A-Team" says....I love it when a plan comes together.  :)


(hmmm....WB7.  There might be something there dontcha think?  :)  )

Thu, 05/05/2011 - 16:06 | 1244820 Sudden Debt
Sudden Debt's picture

Like Forest Gump would say:

THE STOCK MARKET IS LIKE A BOX OF CRAYONS, YOU NEVER WHICH ONE BREAKS FIRST, but if the printing press runs out of paper they all break together..

Thu, 05/05/2011 - 15:43 | 1244688 Sudden Debt
Sudden Debt's picture

I wonder if there's a pot of gold at the end of that rainbow....



Thu, 05/05/2011 - 15:48 | 1244704 CPL
CPL's picture

Something is in that's not gold though.

Thu, 05/05/2011 - 15:50 | 1244732 Problem Is
Problem Is's picture

COMEX paper...
BAH-HAH-Ha-hahahah... ah...ha...

Thu, 05/05/2011 - 15:54 | 1244763 Dr. Richard Head
Dr. Richard Head's picture

Ohh...a chamber pot.

Thu, 05/05/2011 - 16:07 | 1244835 Sudden Debt
Sudden Debt's picture

that's where bernanke get's his best idea's from.

Thu, 05/05/2011 - 16:21 | 1244967 Dr. Richard Head
Dr. Richard Head's picture

Bernanke's Nuggets of Knowledge

Thu, 05/05/2011 - 15:54 | 1244739 Rogerwilco
Rogerwilco's picture

I drove past a local brew pub yesterday. The sun was declining and it cast a beautiful golden light on a young lady sitting at a table on the patio. Her blond hair, the glass of beer, and leaves on the tree above were back lit by the sun and the scene was so peaceful and serene. That is what life is all about, not the drama in the equities markets, or the cast of clowns that masquerade as politicians. Screw it all.

Thu, 05/05/2011 - 15:56 | 1244776 It is a bargin ...
It is a bargin my friend's picture

Was that in South Oxfordshire, about 7.30..that was my missess...what you looking at

Thu, 05/05/2011 - 16:03 | 1244805 Howard_Beale
Howard_Beale's picture

Good for you. Life is what you make it. Focusing on politics, Bernanke, greed, fear, and all that other shit doesn't make you a better or worse person. What matters is that you know what you need in life to appreciate it and enjoy it. It's all noise in your head anyway.

Sounds to me like you have had an have I and many old timers. Check in from time to time but certainly don't waste your life on all this crap.

Thu, 05/05/2011 - 16:36 | 1245054 Clamdigger
Clamdigger's picture

Many of my epiphanies have been inspired in one way or another by beer, as well.

Thu, 05/05/2011 - 16:52 | 1245124 Temporalist
Temporalist's picture

Is it just me that has the same reoccurring epiphany that I'll never do this again?

Thu, 05/05/2011 - 17:20 | 1245240 MachoMan
MachoMan's picture

Did you at least go mount her?

Thu, 05/05/2011 - 15:47 | 1244693 candyman
candyman's picture

ssomethings floating in the pool

Thu, 05/05/2011 - 15:45 | 1244705 PSEUDOLOGOI

bitchez bang!

Thu, 05/05/2011 - 15:46 | 1244711 B-rock
B-rock's picture

Please, WTF is going on?

Thu, 05/05/2011 - 15:51 | 1244738 Magnix
Magnix's picture

Yeah, I have been looking for a straight answer. Most of the comments are scaristic jokes and comments that do not make sense. I NEED STRAIGHT ANSWER, whats going on!!

Thu, 05/05/2011 - 15:55 | 1244770 kiss_my_grits
kiss_my_grits's picture

You've been thrown under the bus.

Thu, 05/05/2011 - 16:00 | 1244783 Magnix
Magnix's picture

WRONG! Thats not a clear, straight answer!

Thu, 05/05/2011 - 16:10 | 1244852 Sophist Economicus
Sophist Economicus's picture

The reason why you might 'carry trade' is because you borrow in that curreny at low interest rates(Yen in  case above), use the proceeds to park in anything from high yield bonds or equities (depending upon your risk tolerance) in another currency (i.e. country) and you get to pocket that delta (difference) between loan cost and income.   The beauty of a carry trade currency is that it also has a history of going down in value as well as having a central bank that is committed to keeping interest rates down (your borrowing costs).  This gives you a currency premium too.    It is a beautiful thing until it doesn't work -- then the big unwind happens...


Hence the graph above

Thu, 05/05/2011 - 16:13 | 1244905 jm
jm's picture

Just to add to that...

You can use the carry trade concept to understand more general relationships. Any two assets are a kind of carry trade, one short and other long.

For example, long silver, short dollar.

Works great until it doesn't.   


Thu, 05/05/2011 - 16:28 | 1244998 Muir
Muir's picture

very nice jm.

very nice.

Thu, 05/05/2011 - 17:03 | 1245161 jm
jm's picture

Thanks, boobs that bounce nicely.

Thu, 05/05/2011 - 17:05 | 1245184 LeBalance
LeBalance's picture

Maybe another wrinkle would not be out of place?

Paper "silver?" versus Paper Dollar?

Physical silver decoupling at some point from fractional reserved paper asset called ETF in the "name of" silver?

Thu, 05/05/2011 - 15:58 | 1244787 tekhneek
tekhneek's picture

That chart is a bunch of currency pairs, right? Often referred to as "carry" or "carry trades"

and instead of going UP in value, they're going DOWN in value -- and they're ALL doing it TOGETHER.

That means, essentially, that money needs to go somewhere else because you can't lose that much value in your carry trade if you're a big fund or something like that.

I'm not an expert by any means and could be severely off the mark, perhaps someone else smarter than me can help these guys understand better what the chart above says in a macro sense?

Thu, 05/05/2011 - 16:03 | 1244809 Sophist Economicus
Sophist Economicus's picture

Yen carry trade .vs. all of those currencies you see on that graph just had a fly land in its ointment


If you don't know what 'carry trade' means -- type it in to your favorite search engine

Thu, 05/05/2011 - 17:35 | 1245291 arizona11912
arizona11912's picture

Here's an example of "carry trade" when you borrow currency with cheaper interest rate and convert it into a currency with and buy a bond in the newly converted currency with a higher interest rate. Of course if you dont hedge properly you can loose a lot money depending on the leveraged amount (in terms of %).

Thu, 05/05/2011 - 16:59 | 1245144 Overflow-admin
Overflow-admin's picture

This summer it's "short shorts" fashion, why are you surprised?

Thu, 05/05/2011 - 15:59 | 1244772 Rynak
Rynak's picture

Global market panic...... looks like everyone is getting the heck out of dodge by liquidating assets to us dollars......

Which is a bit like jumping of a cliff to escape the lion.

Thu, 05/05/2011 - 15:58 | 1244791 Magnix
Magnix's picture

That makes sense now! Wow!

Thanks for the straight answer!

Thu, 05/05/2011 - 16:07 | 1244867 Rynak
Rynak's picture

When i wrote "escape key not responding", it wasn't just a joke. There is no escape left right now in the short-term.... bonds are broken, currencies are broken, housing is broken, commodities just tanked, and PMs got artificially nuked in recent days.... thats why "everything is down".... everything is now unreliable.

What do the sheep do? If all else fails, fallback to the lowest common denominator: The dollar. You know, the dollar that strongly helped creating the whole crisis in the first place.

What to do? Well, as i said, everyone is under the bus.... there CURRENTLY are no safe exits. What matters is: What will be reliable after the dust settles?

Thu, 05/05/2011 - 16:22 | 1244948 SWCroaker
SWCroaker's picture

OH.  Gold & Silver.   That was easy.

Thu, 05/05/2011 - 17:09 | 1245194 Bananamerican
Bananamerican's picture

c'mon 1450!

Thu, 05/05/2011 - 16:06 | 1244855 Sudden Debt
Sudden Debt's picture

that umbrella sure does look like a mighty flying machine right now...

Thu, 05/05/2011 - 16:58 | 1245140 phyregold
phyregold's picture

This has my vote for comment of '11

Thu, 05/05/2011 - 15:47 | 1244722 HamyWanger
HamyWanger's picture

Silver, bitchez!!!

Now down 30% in 7 days and 12% today. 

Thu, 05/05/2011 - 15:54 | 1244758 Hugh G Rection
Hugh G Rection's picture

Thanks Hamy.


I love it when my favorite commodity goes on sale.  Time to load up the Chase and HSBC cards this weekend!!!!!


Thanks CME and my bankster friends, I was getting withdrawels from lack of Ag purchases.

Thu, 05/05/2011 - 16:06 | 1244827 Pegasus Muse
Pegasus Muse's picture

I was just on the phone with my mint.  They had me on hold 20 minutes to talk to a bullion sales rep.  That’s never happened before.  Longest wait ever. 

You think they might be lining up out the door to buy physical silver on this dip?  The rep told me his caller cue was 40 deep when he walk in this morning.  Hasn't let up all day.   

It will probably be a record sales day for physical silver, thanks to the criminal Bankster Mafia running the Paper Silver Scam at the COMEX/CME.  The sales rep said he is running 2 buyers to every seller.  Buyers are accumulating more silver than the sellers are selling. 

I wonder how much physical silver the Asians and Indians are taking off the market today given gift the Wall Street Mafia are giving them?  


Thu, 05/05/2011 - 16:15 | 1244920 Hugh G Rection
Hugh G Rection's picture

3rd morning in a row I went by my coindealer and he has mysteriously taken ill again.... Hmmm


Going to try my luck online.

Thu, 05/05/2011 - 16:24 | 1244976 Long-John-Silver
Long-John-Silver's picture

If you ever wondered what a Comex default looks like, you are watching it happen in real time.

Thu, 05/05/2011 - 19:01 | 1245588 DosZap
DosZap's picture

Was in my Dealers also yesterday buying Au.

First time ever I had to wait 30 mins.....

People dumping Ag.

One lady, my age range, was buying 400 Gold Eagles.

Likely  she doesn't care it went down a C note, since then.

As it will all come out in the wash.(<;


Fri, 05/06/2011 - 01:38 | 1246484 longorshort
longorshort's picture

Yep great salesman.  Watch phones while I take a piss. 

Thu, 05/05/2011 - 15:56 | 1244759 Sophist Economicus
Sophist Economicus's picture

Hamy, you make me laugh.   I cannot help it.   When Harry posted, I believe he really meant it.   When you do it, I know it's a goof.   You do get some the blood of some of the noobies boiling around here though   ;)



Thu, 05/05/2011 - 22:50 | 1246236 ceilidh_trail
ceilidh_trail's picture

But,    I  thought  Hamy and Harry were the same person!?   Where's Harry Wanger? I haven't seen him post in a long time. Does he still have the personal toy store? Did he get caught up in the Fukushima mess? Or, is he really Timmaaay under a pseudonym?

Thu, 05/05/2011 - 16:17 | 1244917 Abitdodgie
Abitdodgie's picture

Lets make bets , to what level do you think silver will go down to , this is just for fun . I will start the ball rolling $24.97 . In fact i will give 1 silver eagle to the closest guess.

Thu, 05/05/2011 - 16:21 | 1244969 tekhneek
tekhneek's picture

bounce/support @34, it will go lower though. i'm looking for $28-$31 as trading zone.

Thu, 05/05/2011 - 17:38 | 1245295 abalone
abalone's picture

Now that's funny. What will make it even funnier is if we had some audio of Harry saying that.

Thu, 05/05/2011 - 15:48 | 1244724 sbenard
sbenard's picture

Ding, Dong, the Carry's Dead!

Thu, 05/05/2011 - 16:01 | 1244797 jus_lite_reading
jus_lite_reading's picture

I thought we got Osama?!? USA! USA! USA I'M A SHEEP! USA USA!

Thu, 05/05/2011 - 15:49 | 1244726 6 String
6 String's picture

NFP number will rock it tomorrow. Flash Crash Up in 2000 tommorrow.

Strong dollar. Flight to safety treasuries. Bohmere balancing the budget. Ben won't do QE3. What's not to like?


Thu, 05/05/2011 - 16:17 | 1244916 Urban Redneck
Urban Redneck's picture

Different than last time, less movement into treasuries esp. on the long end of the curve.  

More buck, less bang.

Thu, 05/05/2011 - 15:55 | 1244737 jus_lite_reading
jus_lite_reading's picture

Gold turds everywhere!

CB's shaking the tree! IT WILL ALLOW THEM QE3.. buy gold with both hands!

Thu, 05/05/2011 - 15:51 | 1244741 wirtschaftswunder
wirtschaftswunder's picture

PM longs getiing waterboarded

Thu, 05/05/2011 - 15:55 | 1244752 HamyWanger
HamyWanger's picture

I wonder when PM bugs will start to sell. The knife will drop 30-40% further imo. 

Biggest massacre I've ever seen in my trading life, worse than the 2008 stock collapse.

-30% in 7 days... LMAO!!!

Thu, 05/05/2011 - 15:59 | 1244779 gordengeko
gordengeko's picture

You're a jackass.  That's what zsl, dto, spxu, twm and faz are for.  The casino is rigged and everybody knows it.  You play with fire you get burned if you don't know what you're doing.  This ain't a buy and hold.  Physical is a buy and hold, fiat is paper games and an intellectual battle.  The ones holding physical are fine.

Thu, 05/05/2011 - 16:05 | 1244846 topcallingtroll
topcallingtroll's picture

Oh really?

Thu, 05/05/2011 - 16:24 | 1244974 narapoiddyslexia
narapoiddyslexia's picture

I'm still >100% up! Looking for the drop to stop.

Thu, 05/05/2011 - 16:56 | 1245142 gordengeko
gordengeko's picture

so you disagree?

Thu, 05/05/2011 - 16:13 | 1244885 Arttrader
Arttrader's picture

Yep, those holding physical are fine.  Until there store of value needs to purchase something of useful material value for their everyday life.  They will be buying less of whatever that is for sure.  paper market this, physical market that.  It's a great way to convince yourself that everything is going your way, no sense of the failure that occurred until that stuff has to go to market.  Then the pain ensues.  Just keep kicking that can down the road and keep your head in the sand.  The party won't be back for a while.

Thu, 05/05/2011 - 16:27 | 1244989 narapoiddyslexia
narapoiddyslexia's picture

There's no reason to sell it till fiat goes south. Anyone who buys silver with assets they need to live on is a fool.

Thu, 05/05/2011 - 16:35 | 1245047 gordengeko
gordengeko's picture

Yes, I firmly believe physical will be fine. Do I think or have I been telling people to put their life savings in physical? Hell no. Tptb just proved who is in control. If anyone thinks they can just sock away money in their 401k or ira and not manage it almost on a daily basis they are surely mistaken.

Thu, 05/05/2011 - 16:57 | 1245134 EvlTheCat
EvlTheCat's picture

While I am a cheerleader for silver and gold.  It would be pretty closed minded to rely on one asset in this economic storm.  You have a point, and I sure hope people are diversifying. Because the ping pong match we are going to witness till the end of the year is going to be spectacular.  We will see if your theory rides out when physical Ag and Au levels drop and customer demand is high.  However, if you think PM's will stay artificially low for an extended amount of time. I will disagree.  You better reassess who is really kicking the can down the road.

Thu, 05/05/2011 - 19:09 | 1245616 DosZap
DosZap's picture

Rule #1 on physical,you never lose until you sell(if their down).

Rule #2,always have something worth more than fiat.

And, the ever present knowledge that the FUNDIES are getting worse daily.

When the time comes, and your holding lose it ALL.

We'll see who is lining up to be a blood donor then.

Thu, 05/05/2011 - 16:02 | 1244799 eisley79
eisley79's picture

I know!  It's almost back down to the last time I bought physical for my safety deposit box, all the way back in february...

Thu, 05/05/2011 - 16:08 | 1244849 SheepDog-One
SheepDog-One's picture

Im lookin my hardest to buy more, but a funny thing happened at the PM dealer, cant touch any silver purchase for under $48 still! 

Thu, 05/05/2011 - 16:13 | 1244884 Sudden Debt
Sudden Debt's picture

here you go:

eagles at 39$

But I would wait if I where you. I think they can knock off 5 more bucks before the bernanke will speak.





Thu, 05/05/2011 - 16:18 | 1244928 eisley79
eisley79's picture

scotiamocatta live quoting canadian maples at $38.07CDN right now (and eagles blow chunks ;) )...will pull the trigger on a few pounds either tonight or tomorrow.  Will watch for the dip to settle first.

Wish I had more free cash to dump into it.  C'est la vie.

Thu, 05/05/2011 - 16:27 | 1244995 Sudden Debt
Sudden Debt's picture

Same here... I've got just another 5K left but that's meant to be for our trip to NY next month...

man will that start to itch if silver goes down another 10%...


Thu, 05/05/2011 - 16:49 | 1245052 eisley79
eisley79's picture

well unlike the traders and the pretend traders(read dangertime), I am an investor, and a longterm one at that.  All the physical metal I buy, goes into permanent storage.  It will either go to my (future)kids, or be used if SHTF.

Got a weddding and a honeymoon half paid for, coming up in a few months.  I was pissed I didnt buy more around 35.00 in late feb/early march, now that I have the chance I might have to redirect a few grand, and save it back up between now and the marriage date lol

I got burned in gold back during the 1000 threshold day for not BTFD enough.

Thu, 05/05/2011 - 19:20 | 1245656 DosZap
DosZap's picture

Mapes are finished beautifully, but they need to get thank Skank off them.

Change the design.Tired of a dead old pseudo Queen.

Eagles at least have some artistry.

Thu, 05/05/2011 - 16:20 | 1244953 narapoiddyslexia
narapoiddyslexia's picture

That's $5 over spot and maybe $5 more to go??

Thu, 05/05/2011 - 16:24 | 1244971 eisley79
eisley79's picture

yup, didnt say it was the cheapest, their margin is always the same (and its less than 5).  But i'd rather buy from them and pay a little more over spot then have it come across international borders from kitco.


With scotiamocatta, i can pull the trigger from my computer, and have it in my hand from a courier within  48 hours.  That's worth a premium to me. 

Thu, 05/05/2011 - 16:22 | 1244913 tmosley
tmosley's picture

I made this just for you.

Thu, 05/05/2011 - 15:54 | 1244743 6 String
6 String's picture

Ramp into the close for the most stable asset ever, The Russell 2000. Bang into the close for PMs.

Thanks for taking the call Ben. See you tomorrow. Steak is on me.

Thu, 05/05/2011 - 15:55 | 1244745 Hephasteus
Hephasteus's picture

Japan is in your insurance. Making a claim.

Thu, 05/05/2011 - 15:53 | 1244751 oogs66
oogs66's picture

Longs in anything other than stocks and bonds getting waterboarded!

Thu, 05/05/2011 - 15:57 | 1244764 Auricle of Omaha
Auricle of Omaha's picture

Enjoy my fellow bitchez...

Thu, 05/05/2011 - 15:59 | 1244773 nobusiness
nobusiness's picture

Now how am I going to buy my kid the GI Joe with the Kung fu grip?  BTFD Mortimer

Thu, 05/05/2011 - 15:57 | 1244785 nobusiness
nobusiness's picture

Silver running in the streets.  PANIC

Thu, 05/05/2011 - 16:00 | 1244789 Altan311
Altan311's picture

PSLV disconnecting from SLV here? PSLV now finding the bottom around low 15's, 15.10ish, SLV continuing to the downside, deep into the 33 handle.

Thu, 05/05/2011 - 16:01 | 1244812 Eagle Keeper
Eagle Keeper's picture

Soon will be time to stock up on some more PSLV. That is if it follows paper down. My feeling is it's not going to....

Thu, 05/05/2011 - 16:21 | 1244946 Sophist Economicus
Sophist Economicus's picture

I nibbled a little towards end of day.  The ameritrade response was so slow, I was worried I wasn't gonna get the trade in....hit 15.21.   Might be high, but hell, gotta start buying some when it goes on sale like this

Thu, 05/05/2011 - 17:46 | 1245328 Altan311
Altan311's picture

Yeah I nibbled a little around there too. I mean 23 to 15 is a significant correction.

Thu, 05/05/2011 - 16:00 | 1244790 nobusiness
nobusiness's picture

Let the after hour games begin

Thu, 05/05/2011 - 15:58 | 1244792 Herbert_guthrie
Herbert_guthrie's picture

Everything down.
Deflation all around.
Dollar up.
Treasuries up.
Please proceed with QE3 announcement.

Thu, 05/05/2011 - 16:06 | 1244831 topcallingtroll
topcallingtroll's picture

You are going to be waiting a long time.

Inflation speculators must be severely punished first, at least the slow stupid ones!

Thu, 05/05/2011 - 16:22 | 1244958 Herbert_guthrie
Herbert_guthrie's picture

I am not an inflation speculator.
Just a historian, witnessing the greatest theft in history go down.

Thu, 05/05/2011 - 16:21 | 1244973 Sophist Economicus
Sophist Economicus's picture

tct, wake me when its 2015.

Anyone who is going to play the dollar implosion game is gonna get hurt trading the manic volatility in the short run.   


Thu, 05/05/2011 - 15:58 | 1244793 wang
wang's picture

where is MHFT?  jumped ship or couldn't afford the ticket?

Thu, 05/05/2011 - 16:01 | 1244794 Eagle Keeper
Eagle Keeper's picture

All we need is a black swan tomorrow and this could get Ugly....

Thu, 05/05/2011 - 15:58 | 1244795 Joey Big Balls
Joey Big Balls's picture

Hey guys,

22 year old first time poster...I'm broke college kid who invested 1100 bucks in silver at @28. I'm confident silver will rise again as long as the printing press keeps running; however, who to say after our currency dies that the market won't keep being manipulated by a global currency in the form of non-dollar ETF's.. etc etc.? 

Does anyone know how much physical is being dumped over these paper ETF's? I'm hating that paper and physical are treated as the same supply. I thought gambling was illegal in most states, guess not for high finance (silverfuturist, youtube). What's the real value of silver without maniuplation? And how can we calculate that using the COMEX figures and what not?


Also, what's the probabily after the US currency fizzles out--after all it seems our debt will kill us-- that a currency will come out backed by PM's? How does that bode for the future value of silver, gold. etc etc.





Thu, 05/05/2011 - 16:02 | 1244807 eisley79
eisley79's picture

dangertime, iz that u finally coming clean?

Thu, 05/05/2011 - 16:04 | 1244832 Eagle Keeper
Eagle Keeper's picture

The metal will NEVER be worth zero. Unlike the paper or USD or any other fiat.

Holding physical still feels good.

Thu, 05/05/2011 - 16:16 | 1244931 nufio
nufio's picture

ha ha .. i lost quite a bit in paper silver. but you have to admit. dangertime was spot on in his prediction that it will hit the low 30s. he must have made a killing on his position.

He certainly was no troll just a good trader. Give credit when its due.

Thu, 05/05/2011 - 16:32 | 1245043 Temporis
Temporis's picture

I have a picture of Dangertime on my wall and I put little candles around it and burn some funky incense and chant praises to his epic predictions.

I did the same for HamyWanger except his picture is engraved into the inside of my toilet... I praise him with gifts of chocolate and lemonade

Thu, 05/05/2011 - 18:04 | 1245385 Godisanhftbot
Godisanhftbot's picture

  While you're at it , pump it up and down a few times.

Thu, 05/05/2011 - 16:15 | 1244901 Dreadker
Dreadker's picture

*Firstly i'm not an expert*


From what i understand historically, and i mean historically in a sense of 'before paper money' when people bartered physical silver and gold, there was a general ratio of 16 troy oz silver to 1 troy oz gold.  There is no point trying to calculate a 'true value' of a backed currency until it is pegged at a value - like they did after german hyperinflation where they said one of the new notes was worth n Trillion old notes... so someone at the time would have to say $1 is worth 16 oz silver or 1 oz gold...and that $1 trillion old dollars is worth $1 new money...


Basically, nothing is set if you're buying physical to hedge against currency collapse, other than the fact that if you hold physical silver/gold you will be 'richer' than those holding a failed currency.... 1oz of gold might be able to buy you a chicken or a house... it will be as valuable as its perceived... And will still be affected by inflation/deflation, but on a truer supply and demand basis (you can't print gold/silver etc.)...


Thats my understanding of it - feel free to flame/correct my comments as you see fit ;-)

Thu, 05/05/2011 - 17:53 | 1245349 andybev01
andybev01's picture

Nicely put.

"A thing is only worth what someone is willing to pay for it."

Thu, 05/05/2011 - 16:31 | 1245026 blunderdog
blunderdog's picture

This guy has some comments if you have time to listen to the interview.

Thu, 05/05/2011 - 16:02 | 1244800 The Feds Connection
The Feds Connection's picture

I know the basics of the carrytrade and looking at the chart, every currency is going down against the japanese yen? Im relatively new here and trying to keep up understanding the posts/charts and what they mean. Sorry in advance for this obviously noob question. (I do know most acronyms used here finally)

Thu, 05/05/2011 - 16:13 | 1244886 Bam_Man
Bam_Man's picture

Winner, winner chicken dinner!

The Japs are unwinding the granddaddy of all carry trades. Liquidating assets in all other currencies to raise Yen in a hurry. Something big is going down in the Land of the Rising Sun.

This could get interesting.

Thu, 05/05/2011 - 16:14 | 1244911 Dreadker
Dreadker's picture


Thu, 05/05/2011 - 16:29 | 1245029 The Feds Connection
The Feds Connection's picture

Thanks Bam Man, although i had to google "Winner, winner chicken dinner!" to make sure you werent mocking me.

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