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CME Margin Hike Is 4th AND 5th - Charting The Parabolic Rise In CME Silver Margin Hikes
Remember when earlier we said the CME had hiked silver margins for the 4th time in 8 days? We lied. In fact, what the CME did was to hike margins for the 4th (effective May 5) AND 5th times (effective May 9). That's right, dear reader, in one release, the CME has performed two concurrent margin hikes, which means today's action is the 5th margin hike in 8 days, a previously unheard of event! As of May 9th, the initial margin is $21,600, or 11% of the contract value, while the maintenance is $16,000. This is nothing short of sheer panic at the CME. At this point we can only wonder if the FDR-style precious metals confiscation executive order will come by way of the CME or the FBI. And for everyone asking, below is the chart of recent CME margin hikes in silver.
Spot the parabola:
Oh, and another thing: today (or technically yesterday) there was another drop in COMEX registered silver, with 4,758 ounces of silver withdrawn from Brinks.
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I have a friend that bought nice secluded farm land in Canada and is all setup off the grid.. I have his address down in my printed "emergency address" list... you all should have one.
B
Smart move lunaticfringe; however, I figure that when the feces hits the rotary Canada will be forced along. Canada is a good first stop...there are other places where you can take your "Canadian Currency" and keep it safe from being fondled by the TSA.
They can hike it to 1000%. They still aren't going to actually hand you the metal if you exercise.
JPM doesn't care how high the rates goes since they have first dibs on the $100T notes when they come available. It's impossible for them to suffer a liquidity crunch.
Goldman Sachs making it hard for clients to borrow silver should have been the moment bells went off in your head that a visceral and extended attack on silver was about to commence.
Instead you ignored the warning signal and your portfolio is suffering like an acutely prolapsed anus.
Why hike margins when the price drops? Does it not make sense to drop margins as price drops? Who would want these contracts at such a high price?
Because the good ol' boys want that shit DOWN. They want to cut you, throw salt on it, and while you're in pain, just to insult you they urinate in your mouth.
Who would buy these contracts? The folks who realize that there's a BIG cash incentive NOT to exercise delivery. Gotta limit the pool of folks threatening to take delivery.
Damn. Maybe go long if silver drops below $24.92? Remember Tyler reporting on that 100,000 July put option at $25. Coincidence?
"Why hike margins when the price drops? Does it not make sense to drop margins as price drops? Who would want these contracts at such a high price?"
the margin hike came first, and then the price dropped. aside from that timing issue, margins are hiked due to volatility, not due to a particular directional move. it so happens that with physical commodities, high volatility tends to be associated with increasing prices, but that is not necessarily, nor always so.
The crash of this fraud is going to be a sight to see. Who in the right mind would sell their physical silver, keep a tight hold of yours. I had thought about purchasing a single long futures contract but not after these outrages. For me it is physical silver, silver shares and SG covered warrants for the leverage and I will rebalance from CWs to physical since SG will blow up with the rest of banking universe.
Fuck me Tyler - you've hit a nerve here. Must have been a red light flashing at Troll central when you posted this sending hoards of them slithering over here before anyone else could get a look in.
The Comex is clearly fucked. Just like they were in the 1980's and just like then, they simply changed the rules. Well this isn't like last time, and a couple of billion buyers of physical can't be sent packing by changing the rules on Crimex. They are toast and they know it.
+10
Exactly. Its no obscure paranoid fantasy styled conspiracy theory, its the elementary fundamentals of demand and supply. There is not the physical to back up the present notional quantities of maybe all the commodities now and / or the propensity to meet the future expiration dates of contracts.
Commodities are real tangible items, most of which have very inelastic supply curves. The Bernank cannot print the physical, not unless he invents the replicators that they have on Star Trek. Until then, they are scarce resources and some day very soon the correction between paper and electronic trades and the real world, will create an almighty spike in prices, unwinding god knows what. I think the neoclassical goons like to call it a right fuck off shift in the supply curve to the left.
Its checkmate time.
Thank God I have physical and no paper. Spot COMEX price will be 25 and ebay will sell it for 65.
Paper is a casino.
confiscation? how? but that's really bullish signal for metals price! Sayonara Dolla~
Don't forget the miners. They will explode on the divergence.
If they'd only stamp a Kitty Coin, otherwise I am stuck with GPL.
Got lots of rounds, tho, if I ever run across a stamper....
Yep...that's what the charts hint to today. Spread compression trade is on. No margin issues owning shares of the guys that dig the metal up out of the ground....as is the same case for guys holding coins.
I think that trade is a go tomorrow.
From a credit point of view, it makes sense for margin to be a function of 1) absolute price level and 2) volatility. A couple of quick data points on price level vs initial margin: at the end of Dec 2010 silver was about $31 and the margin was about $10K, so about 6.4% or so of contract value. ($31K X 5K oz). Now it is about 11.2%. On the other hand there has been a large increase in volatility.
Not denying that the timing of the margin hikes is governed less than pure motives, but it might be possible to back reverse engineer a formula based on contract value and volatility that would explain much of the increase.
I'm no friend of the Comex thieves just trying to sort it out objectively.
So, because the ES always goes up, there should be no margin hike?
Its a function of both volitility and price. If there are 50 or 60 point swings every day for a week or two in the ES (UP or DOWN) you better believe that margins will be raised.
Great points all around - of course the explanation makes sense, if it were a stand alone event. HOWEVER given the history of deceit, lies, fraud, and outright admission that paper is issued 100:1 to physical, plus recorded inventories that don't come close to adding up - it can't be anything else but a Mr. Fuji salt throw to the eyes manuver again
Looks like the implied vol is now 50%, which means that current margins (initial + maint) are actually pretty close to right.
(http://vixandmore.blogspot.com/2011/04/silver-implied-volatility-rises-over-50.html)
Margin requirements have knocked out the weak hands and the merely exhuberant, and now silver can resume it's slow climb upwards.
If anyone has access to a Bloomberg machine, the implied vol is much more interesting than the spot price. Feel free to share, anytime!
-
Fine, so how's this good news for silver?
Ohh, wait, never mind.
-
Quit bouncing, dammit!
Does anyone know of a decent Mutual Fund that holds bullion? Most of my investable wealth is in a 401k at my employer. I have access to something like 6,000 funds including numerous precious metals funds. However, these are equity funds that hold PM mining company stock, not bullion.
I don't want to pay the taxes and penalties to cash out the 401k to buy physical. Any ideas or am I screwed here?
Not sure, as I am not a tax attorney, and never played one on TV, but cash out the 201K, roll to a Roth, and do your own thing?
401k to a rollover IRA. Then buy PHYS/PSLV would be what I would do.
I can't roll over my 401k unless I leave the company and am not planning on that right now.
SVRZF on the US pink sheets...PSLV has a higher premium right now
So does anyone want to write the ETF manager of the SLV to demand what this means for his fund?
Sell in May and go away.
Why? The SIHTF, just get popcorn and beer.
And keep that trading window open. This is great stuff.
things in the silver market are worse than you all think and here's why. For some reason the bullion banks feel the need to kill the silver geese.....the paper players, speculators, casino rollers. These are the players that DONT WANT TO TAKE DELIVERY !!! these are the players that keep the fractional game afloat. If the BB's piss off the gamblers who will be left to play their game....answer no one.....just those that will stand for delivery. The BB's know the paper gamblers are their bread and butter so why cannibalize them? why push them out of the game. The BB's must need for some reason to get prices down rapidly regardless of how effects their interests past a week down the road. They are risking breaking their whole game by the current pillage of the riverboat paper gamblers.........why??? they are not stupid, they know what they are doing. Things must be so bad that killing their own market is less frightening than whatever currently confronts them
Cuz us peons are buying all the physical?
Fuk em.
Except me. Don't have a condom that big, am full up on physical, and now just play miners.
someone bigger than us peons buying big and the shelves are empty. lots of talk about big buyers showing up at the mine gate with cash.
Good points. You have to wonder why the CME would be willing to do this, when clearing fees/trading volume is their bread and butter. (Other than selling the quotefeed data.) What is at the end of the tunnel? That light a train or the other side?
Because JPM & their cronies are not short silver. They are only short Comex contracts which may or may not reflect the price of the underlying commodity depending on the terms of that contract. Clearly there is no way on earth they can deliver all the silver they have sold short but, and this is the clever bit, if they can make holding a comex contract so pointless and unpleasant that nobody in the world wants one, then they can buy back all the contracts they are short for peanuts.
That, my friends, is the scheme here. They are deliberately engineering a collapse of their own 'Currency' so that it becomes worthless and the debts they owe in that 'Currency' can be discharged at little or no cost.
The bifurcation between paper and physical prices will begin shortly when dealers and miners refuse to sell for the smashed down paper price.
So Quintus......they are attempting to get flat at the cost of destroying their business model ? .....dont disagree with you just wondering if this is an accurate statement. Or do you believe paper gamblers have short memories and will return for more punishment and the game will continue?
Their 'Business' is a fraud. Selling stuff you don't have will eventually catch you out, and these guys have been caught out by physical demand. It is manifestly obvious that the '4 or less' big shorts on the Comex simply cannot deliver what they have sold or, apparently even a small fraction of what they have sold.
The scam has run its course, it was good while it lasted but everyone is on to them now, so time to move on.
Anyway, as people never tire of pointing out, Metals futures are a tiny market in the overall scheme of things, and I'm sure the big players we are talking about here will find plenty more ways to replace the lost revenue from their Comex sideline.
Agree completely. But before they move on, there is the *minor detail* of actually getting out from under their massive short positions with balance sheets and MSM reputations intact. Scapegoat time? Maybe set up some sovereign player as the bad guy when things go pear shaped? Or do they just hang out a rogue trader as an offering?
Delivery. That is what frightens them. However, killing the AGQ with the ZSL does little to stem the problem...which is their lack of ounces. Sure, the pricks at JP Morgan are probably getting a break via their short position. However, this doesn't necessarily bring more metal under their control.
This is a classic corrupt market maker duplicitous action, killing one instrument while making paper money on another instrument...but delivery of the metal is the issue. And the people buying the actual metal are not interested in selling it.
I am no expert on the silver market, to be sure, but it is not clear to me that the tightness in the market is being resolved by what is currently happening. And anyway, I'm about to join the rest of you in reporting to the nearest coin shop to assist in tightening said market.
SILVER KEISERS, BITCHEZ.
16.8 million ounces out of SLV today.
32.2 million ounces out since 4/25....
I tried to warn you all that the high volume fast money in SLV was going to lead to selling pressure as the silver was arbed out of the trust on the way down...
Hopefully at least some of you bought puts...
Got June calls on GPL - that count? Care to name a recipient of all those paper ounces you cite?
LOL, warning of a top since 2001. You take the cake for being a complete broken clock.
Nahhhhhhhh...a broken clock is correct twice a day.
You bought @ 39.13 saying it was the bottom; spot is @ 38.9
Fools a crash a make.
Three down:
tmosely
Burnbright
Flaccid Head
My cost average is a bit under $16.
You're going to have to do better than that, loser.
I top this tick on Monday last week...sold half my 1989 hoard at 48.75 less 1% then bot 500 july 30 puts at .25 sold at .78 great week...all detailed at ZH plus 10 on the big boy 3X for another 70G
Hot Boy!
At this rate, Prada, Gucci et al will have to start stamping out designer wheelbarrows for the ladies who want to buy bread in style.
Stay long on PHYSICAL and PROSPER
What a joke, let the circle jerks blatantly manipulate the stock markets with no recourse but hammer down on silver in fear of too much ponzi exposure..Here will be the headline in the WSJ soon. Take notice of the date, still one more year before this sinking ship just disappears into the deep blue abyss..Oh how history repeats itself over and over again.
http://successsystemsnow.com/wp-content/uploads/2010/10/executive-order.jpg
And soon to follow suit...
http://0.tqn.com/d/beginnersinvest/1/0/C/H/1929-1933-stock-market-crash.gif
It's all about the money. Does anybody think that JPMorgan didn't know about the rate hikes? Of course they knew and they placed their bets in advance.
Gosh. And us with our Special Forces deployed in Pakistan!
CME needs to be exposed. If not shot in the face and dumped at sea. Bacon wrapper optional in their case.
Conspiracy theorists are pretty funny. You all just repeating over and over that CME and every broker are all in on some big coordinated conspiracy.
A more logical and truthful explanation is that the volatility and price increase has wiped out a lot of margin traders and causing margin calls. I bet that Think or Swim and Interactive brokers have quite a sum to try and collect from broke traders who lost it all plus a hefty sum they are now "supposed" to pay back to their broker. The brokers now have to file lawsuits in order to recover the losses.
This is nothing other then brokers covering their own asses. Prove me wrong instead of junking me and saying some crack pot comments like I know your thinking right now.
Dont get me wrong Im bullish PM's long term but to say that this is all one big conspiracy literally makes me laugh out loud and all you dumb MF'ers.
hahaha... so true... so true....
Yeah. And it was the tooth fairy that flash crashed Silver three days in a row during the window when no major market was trading.
Margin hikes are a result not the cause. Whoever fired a market order on sunday night for 2k contracts was trying to crash the price. Monday morning think or swim hiked silver margins to 30k per contract because they are owed alot of money from margin traders and went overboard with the margin hike.
CME should just make the margin X% of the nominal contract price multplied by some sigma coefficient instead of a fixed margin. If you dont understand this you shouldnt be commenting on margin hikes.
A flash crash is almost immediately retraced 100%. This move was no flash crash.
This is the shit that happens when whales decide to blow up a market. Margin calls fill their bellies with silver bugs.
Margin hikes can serve two purposes. It can be a way to protect brokers and at the same time limit the silver mania. Burn it down. Hit the reset button. Gold 36000 for president.
Your platform is intriguing.
I cant wait for the presidential debates.
Oh I see, margin calls create a feedback loop that means the exchange has to raise margins. Yeah, that totally makes sense.*
I can play that game - hey, the stock market has been up this year - that means more money for everybody, right?
*(If you wanted a system that ripped itself apart like a washer on 'spin' with a bowling ball inside.)
Oh, I get it now... The rate hikes are to cool things down because someone is getting magin calls. So the CME takes notice and decides to step in and help those poor folks out. So silver drops $10 in a week and we're all happy now. Yeah they did the right thing!
As Max Keiser says about the Markets: "Casino Gulag Fraud!"
What is up is down, what is down is up. People who play that game play at their own risk. It's a casino and guess what the house always wins.
Stack Physical, Bitchez. Lead + Lead Delivery devices. These Bankers/Wall Street criminals will get their 'tar and feathers'. Justice, Bitchez.
FYI: Turd is a good guy and trying to do the right thing.
I buy silver because it is shiny. If it goes down that's good, it means I can buy more shiny things
Breaking News:
A squad of TSA storm troopers just arrived at MethMan's hut to protect him from an angry mob of thousands, chanting: "Death To The Unbelievers!"
Film at 11.
Maybe I came late to the silver party, but this decline in price bothers me not one whit, so I'm curious about the debate. There are two PM camps I see: the speculators and the long term holders. If you are in the latter category (me, recently), you think about it as wealth preservation relative to dollars that are losing value over a longer term. Speculators may get crushed, but frankly I thought I missed the chance to buy physical cheaper... seems like I'll get my chance after all. Am I missing something?
50dma is $38.80...we are bouncing on this as I write...if we successfully bounce over the next day, this would seem the natural place to make your purchase???
What you are missing is that the major players have the power to manipulate the price in these markets. These rate hikes were planned weeks ago and we didn't even see it as a possibility. What's next? Will they let silver go to $50 or will they drive it down to $20?
This truly is a conundrum - if the price is driven down, the greater the demand and the greater the physical squeeze. I like the idea that paper has been spread further than metal can cover...I think I'll keep on looking to buy physical and only trying to find attractive points to continue my entry.
What's the other options (paper dollars, paper stocks, paper bonds all denominated in dollars???)...no, I like something relatively fixed in quantity and tangible...I'll continue the journey of moving all my paper to physical gold & silver, month by month.
I also do like RE but not thinking this is the time and place (but wtf do I know...retorical question).
No. Welcome aboard.
Gee if they gave a shit they would have done the same for, let's see, oil cotton sugar oats oil oil oil gas oil gas gas oil
I give up..... Not!
Guess another Leftist hack is about to be stuck on the Federal Court.
Alexander
Brown
Chambliss
Collins
Goober
Issacson
Kirk
Mercowski
Snow
Thune
McLame
Doomed.
I agree with your second paragraph
Hey Mathman,
Silver out of SLV is actually bullish for silver. It means that individuals would rather hold the metal than have the cash. What you think of as selling is actually delivery for people who don't want to play the paper game any more. Once all the silver is bought out from SLV, it means no one wants to hold paper silver but rather wants to hold the real stuff. And those hands are strong.
So....you have it all backwards.
You have a total mis-understanding of the creation/redemption mechanism.
The silver is being arbed out of the fund and sold on the spot market.
This is very bad. The biggest buyer is now the biggest seller.
You assume that every single person is arbing out and selling on the spot market, rather than putting the silver in a vault, or taking it home to China.
If it was being sold on the spot market, there would be more than 12 COMEX bars available at the retail level on the face of the earth.
Christ, you are so stupid. $34 is da top, DA TOP I SEZ!
You're hopeless.
And you are an evil bastard with an agenda.
Take your paper shit and shove it up your ass.
Get him T
Give him the treatment.
Whatsa matter. You tired or something?
I'm not sure what you are talking about. This guy has been shown to be quite thoroughly stupid, considering he doesn't know what a flood is, or a market, or how the two terms should be joined together.
Might as well try to tell me there's a housing glut in Antarctica, and that I can go buy any number of housing developments I want there, I just have to go talk to a bullion bank er Fannie Mae and "take delivery" to a vault that is owned by one of their subsidieries where I will never be allowed to see it, and I will have to have a team of lawyers come in to get the actual location of the houses, at which point they will force me to wait for a few months while they build said houses.
Then, after ALL THAT, they will wonder why I bothered. I would wonder to, as the cost of the attorney far outweighed the cheap price. Should've just bought ten times as many 100 oz bars, er, houses in the US, on APMEX, er, foreclosures.com, or similar and saved myself the hassle.
Just keep accumulating physical silver at liquidation prices; while they last. You have to have silver for panicked electronic industry or shut down. Industry won't wait to see where silver prices go. Certainly won't wait to see if silver is available at what is 20% lower. Industry buying what's left of physical silver if any? Physical silver investors are buying tons, and telling everyone who will listen: GET YOUR PHYSICAL SILVER NOW. bankster fraudster burn to ashes in empty bullion vaults. The end when paper fiat goes bad. USDINKer dollar so sick it can't get a rigor-ed cadaver twitch, with 100 times the jolt it took to have Frankenstein come alive.
Industry doesnt buy spot or purchase from comex.
They have fully insured long term contracts.
Hard to make them panic.
Who do you think brokers those contracts?
THe LBMA, the COMEX, or the bullion banks. None of which have enough bullion to meet their obligations.
You think the dollars they get from the insurance can be rolled up into little highly conductive wires for use in electronics? No. They have to have silver, and the price doesn't really matter to them. Not if it is a choice between paying 50 times the current spot value and shutting down operations for good.
I'm going to celebrate the CME/JPM's pyrrhic victory by buying myself 75 silver Grizzly Bear Coin (1 oz).
http://www.pandaamerica.com/details.asp?item=10006&grp=1&categ=11
I have been digging this topless chick for like 2 days now.. my guy didnt have any proofs..
I'm just sitting back waiting to see how long the free money printing keeps the greedy asshole bankers & stupid asshole politicians afloat. It ain't about money, it's all about stuff. All the money in the world won't keep you afloat. Stuff does. And these 2 groups of useless asshole don't produce any stuff.
Keep your eye on the DXY.
US Mint sells 701,000oz in the first 4 days of May. No disconnect between spot and physical right guys?
http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=sal...
Mathman uses different numbers. He's an enron accountant.
coulda been a congressman
SLV sells 16.8 MILLION ounces today.
You are such a troll.
I love you.
However when you grow hair on your feet and start dragging your knuckles and your roar can be heard twenty miles away then it will be time to go long.
What odds do you give for this thing going under thirty?
"CME Margin Hike Is 4th AND 5th"
It is going straight to 100% margin.
And for those who are too stupid to understand what that means.
COMEX is broke.
What's the spot price of Silver in Pakistan right now?
Do you get it?
The more the margin is increased the more true price discovery occurs.
Difficulty is that whomever is selling the shorts is pretty much bankrupt.
Am I wrong?
That would be that Silver becomes a Cash market.
That would be that Cash is traded for Silver.
That would be that Cash is useless.
That would be the beginning of the Great Inflation.
Happy to have added 123 2011 eagles to the collection. More margin increases mean more eagles in the safe.
Where do you live exactly
Cali
Cali
La ciudad de eterna primavera.
Nice city. Dont believe the hype.
But as a precaution i aways dressed like
a hitman or a usa secret agent. Look
tough, wear sunglasses and black leather.
lol - wouldn't you like to know
Gee I note a slight tension in the air>.................
hmm I wonder why.
The guru's maybe actually don't have a fucking clue? Could be maybe?
Yup.
Not one of you genius pumpers called this.
What is the new motto?
Sell your goddamned target without hesitation. My sell price disappeared in seconds and 4 bucks an ounce vaporized. If I had waited I would have lost a shitload of profit.
I'm not bragging here guys.
et your game face on and think for yourselves
The buffett saying of the century.
You never know who's swimming naked till the tide goes out.
BTW
Now that the fish are flopping on the streets, the pumpers will start over with "hold silver for the long term, silver is great, silver is rare, crap. Conspiracy, conspiracy blah blah
It is neither. It's a trade till they government starts killing people and throwing htem into concentration camps. Then you bribe the guards with your core positions.
The buffett saying of the century.
You never know who's swimming naked till the tide goes out.
that'll be Buffet caught in a bear trap soon enough but i dare not picture him caught skinny dipping before it happens
things go ^ & down and you can buy/sell anything, anytime. alice's restaurant. keep score yer own way, too. long time, too. it is called freedom. it is sad to see people so concerned with price fluctuations and trying so desperately to find meaning in money.
mogul rider, who comes from a wealthy, landed family: It is neither. It's a trade till they government starts killing people and throwing htem into concentration camps. Then you bribe the guards with your core positions.
of course, many will agree. here's one:
By God.
I think you are a realist.
Not too many about.
so, the price of silver shoots up to almost $50/oz and the traders trade and the people who don't trade, don't freaking trade. just imagine that!!!
then, the price shoots back, as tyler sez, to where it was 2-3 weeks, ago. we are s'posed to now imagine ourselves in concentration camps? okey dokey!
By God.
I think you are a realist.
Not too many about.
Too right. That goes double for the miners.
Positive sentiment beginning to evaporate.
Keep your eyes open and your trigger fingers itchy.
A lower silver price will be disastrous for the release of 2011 Eagles by the US Mint later this month. And now you have a bunch of ticked-off discouraged traders from all these margin hikes that may consider buying physical instead.
Just do your part and go buy physical. Fuck trading in this casino.
What can I say?
More than ever, buy physical silver and crash JPM.
So having manipulated the price down low do we get Asia now buying up cheap silver and gold? Removing even more physical from the market at bargain prices?
Maybe these TPTB are traitors and are really working for the Chinese.
I know I will be.
I fear its not just china. The very same people who are now driving down prices would be stupid to not buy physical now. The whole thing may simply be a matter of buying time, so that "they" can BTFD. People post that they like the low prices, because they can buy more - but in the big picture, i doubt that people like us have the capital to buy up most PMs up faster than "they" can..... perhaps, the mainstream kicking in via surpassing the 50$ high, would actually be desirable now... people like pointing out that PMs aren't yet in a bubble, because the mainstream isn't involved.... yet at the same time some people argue for a wealth transfer to the masses... i dunno, but that looks kinda contradictory to me.... either you want wealth transfer to the masses, or you don't.... not "in this parallelworld yes, in the other parallelworld no".
The TBTF are not Americans. They are globalists. Of course, they are traitors and should all be hung. "The ropes should be tight because they have to hold weight of pigs."
Tuco Benedicto Pacifico Juan Maria Ramirez
Silver will bottom when all the "Armchair Anarchists" throw in the towel and give up hopin for a COMEX default or a failure of JPM and HBC.
In fact, if you had just invested in JPM and HBC stock, you could have spared yourselves the massacre in GLD and SLV the last few days. JPM and HBC have been rock solid the last few days.
I told you guys repeatedly, never bet against the house. You will lose every time.
millions of us have bet against the house and have tripled our money, others more than triple.
you bet against the house when you bought your eagles. in your own words you said you made enough in the past 2 years to buy a new prius.
you're no fun to knock down anymore because you're so transparently phony.
As an "Armchair Anarchist", I just want your bra to fall off.
SHOW ME THOSE PUPPIES!
You win best comment of thread award.
Yup, that seems as of today in magical consistency be the new "message"..... troll-brigade in april "There is no manipulation, you're all nuts!". Troll brigade in may "There is so much manipulation that you will get assraped... better just give up, because 'yes, we can!'."
Until we don't.
Tuco Benedicto Pacifico Juan Maria Ramirez
You keep saying that, but we are up more than 110% in the last 12 months.
Even after the crash, you are still having your ass handed to you by an inert lump of metal. So sad :(
Well we know India and China want more, it's a no brainer to at least convert some of your fiat into physical. More power to you if you can make paper gains while saving physical.
So if the game is to crush "hot money" volatility, then the strategy for someone who wants to take physical delivery would be to back off and jump in 2 days before expiration so CME's bullshit games will wash away.
Could be a nice strategery. Do you feel lucky?
'Course you be still talkin' trash about paper.
TPTB: "Holy Shit! We've got to put a lid on this thing!"
(deuling parabola's at this point, eh?)
asymptotically & +!
bola
bola
that's a pair 0' bolas!
So, was George Sorros trading on inside information when he chose to sell?
"Follow me @juliethuddy on Tweetster."
/jk
Gonna suck for the US Mint if these prices keep dropping........gonna be hard to sell them eagles for 20, 30, 40% over spot one would think , and down goes the revenues if it's back to 20.....
Things have to be extraordinarily bad at JPM for the lengths gone to in all quarters to bring down silver. The corruption is blatant. Corrupt naked short selling, refusal of CFTC to take action, margin hike after margin hike - they are so desperate they are dancing naked before the crowd.
Maybe they are buying the dip themselves but I cant see how that helps - sell a bunch of silver you don't have to push down the price to buy back some to deliver what you just sold. The hope is more wont want take delivery than you buy in the dips. And that doesn't help the shit you are already in. They are trying to make a perpetual motion machine, but friction always does you in.
One can only hope these cnuts really are in such big shit, it is time to put the boot on their throat and buy and hold physical.
What`s all that complaining ,if you own physical you haven`t lost anything!Frn`s going the way they have to...
Like I said before:
I made a rather large bet for the conservative fish buy buying SLV and SLV May 36 calls and rode them to 46.91...
I then did three things: 1) Cashed out my SLV and bought physical 1oz. Ag bars, an ounce of Au AND the June and July SLV 47 puts.
Sure I paid an average price for my physical of 47 plus change, but I'm not worrying, and, yes, I had to buy bars as there were no coins available and when they do become available where I live they will be priced at "spot" +++.
What we are actually witnessing is the deliberate destruction of a national physical commodity market and its replacement by thousands of local "underground" markets where transactions only take place between trusted buyers and sellers at "negotiated" prices.
If you smoke weed, you're very familiar with the setup and the process.
But the choice is yours....when fecal matter hits blade (any time now) what do you want to be holding...."judefetzen" or real money?
Just sayin'
From the California Nuismatic Investement Ticker (http://golddealer.com/):
"… Silver closed down $3.19 at $39.38. $1000 Face 90% Silver Bags Buy $26200.00 Sell $28200.00. …. Manufacturing limits are now causing delay in some silver products."
Is there a rule how many times or under what conditions they can hike rates?
Or is this merely on the whim? Was I see it, you can only hike margins unti it's trading 1:1 so if physical is really in short supply, it's only a matter of... (short) time?
Rules?
You mean like bond and share holder rights?
Property rights?
Rules against debt speculation and bankruptcy meaning something beyond the individual household?
*cough*
If I take some really big hits from their hookah I can begin to see the outlines of 1950's-1960's American society.
...toke...toke...
M - i - c....k - e - y M...o...u...s...e
lol! put yer ears on to sing that, eb!
Aye Capt'n.
{ 'x' }
(It's the best I can do... with ASCI II)
Works for me. Margin should be at least 30% equity like stocks. SHORT last week and holding forever bitches!!!
I hope they raiser the margin requirements to 100% and I hope silver drops like a rock.
I bought a shit load of silver at $22 and if hits that price again I'll buy some more. All the PTB are doing is pushing a beach ball underwater and they can't keep that up forever.
Buy physical.
That's what is popular in China.In Beijing, you are able to buy silver bars in the morning. Customers who show up in the afternoon are advised to come back the next morning.
Customers are limited to buy 5 - 50 bars ( 1 kg per bar ), depending on time.
Demand is still strong.
A little off topic, but buying PMs with credit cards may be changing: new Amendment to Bank of America cards introduces "Credit Availability" as of 6/25: Bank Cash Advances will be limited to 30% of your credit line. Bank Cash Advances include Cash Equivalents "foreign currency, money orders or travelers checks from non-financial institution, person-to-person money transfers, bets, lottery tickets, casino gaming chips, or bail bonds". Are PMs cash equivalents? Seems logical that they could be called that! So your $30,000 credit available would be only $9,000 for such "Cash Equivalents". Anyway, failing to meet a minimum payment automatically puts you at the Penalty APR for this classification, currently 29.99%. Maybe they just sent it to me only...
Buy silver with a Chase "Freedom" Visa credit card.
Zero intro APR for the first year!
$150 to start, 5% cash back!
Buy silver and screw JPM.
Stop drinking the kool aid.
$20,000 in only a $4 move. The margin hikes are there so you deadbeats dont stiff the brokers as you get carried out.
No conspiracy here, just try not to step on each other on the way back to 25
I can't wait for silver to hit $5 so i can actually buy a reasonable quantity. that's gonna happen right?
OMFG
Failure of EPIC proportions.
LULZ all around, what an ASS-CLOWN
Don't ya just love it when the Trollsters come out of their fucking holes? Don't see too much of their bullshit when they're sittin there, watching their screens, chewin' off their fingernails, when Silver and Gold are breaching new heights. I, like many of you with the foresight, have been waiting and hoping for this MINOR correction in the PM's. There is NO argrument, no guessing, no panic here. We've seen the future this past month, and the future belongs to the individual who gathers the precious metals into his possession. Sure, we'll have more downturns here and there, BUT keep your eye on the ball, look around. When and IF the debt ceiling gets raised, OR NOT, it really doesn't matter. "There's not enough tea in China" to cure the mortal blow the USA, (and the rest of the world), will receive from the OBVIOUS debt, and the HIDDEN debt, that will surface. The "CAN" has been kicked down the road so many times, the Campbell Soup label is the only thing holding it together. We've had, and still have, a herd of malfeasant, corrupt, criminal, self serving, lying, moronic, buffoons, that have succeeded in their baffling bullshit of the American Sheeple. They "shake the Silver Tree" with their fucking margin hikes, naked short more gold and silver that has ever existed in all actuality. They buy off, pay off, suck off any and everyone who can help fulfill their quest for total world dominance via the extraction of the "lifeblood" of the Common Man, his bartering agent for trade, money. Indeed I'm pissed. I'm more than pissed. A fucking bullet in the head of each and everyone involved in this diasterous fiasco would be too humane. I didn't intend to ramble and rant, but I'm calling it like I see it. Anyway, on a positive note, I believe Friday morning, May 6th will be an excellent time for all of you physical people out there jump in with both hands, back the fucking truck up, grab the checkbook, burst open the piggybank, take out a loan, and start buying from the bottom. For me, hell, I buy ALL the time! Don't care whether it's $50 an OZ. or $20 or anywhere in between. Always looking to the future when it'll be priceless. Take care my comrades, and of course, fuckutrolls.com. adios amigos
+39.06
of course it is panic - pure unadultered fear by the military-industrial-bankster complex that they will not be able to manipulate silver and gold as in days of yore....fear that they cannot continue to rob people blind of their assets - to steal money from the poor to give to the rich....
yes dear friends, silver is in permanent and severe backwardation contrary to what the paper price of silver may say....this why silver is for posessing and paper etfs are for fools....
this margin hike represents to the true rate of interest.....the manipulated paper markets of 0-1/2% interest is where the wolves prey upon the weak and the poor....the silver market is asserting itself otherwise...the rise in margins is a rise in the cost of money....
the silver market has been so distorted and perverted by the mib-c that there should be riots in the streets....
my bet is that the big insitutional market manipulators such as jpm, hsbc, db and others are exempt from any such margin requirements....indeed they have a special right bestowed upon them by the criminal sec to sell naked shorts with abandon which means such margin requirements are moot and meaningless for them...that is how they can ambush the silver markets like gangster thugs....
i love watching evil panic....
I've something rather simple to say, per Max -- "Buy silver; crash JP Morgan."
Peoples, bottom line, if you were playing the unbacked ponzi paper PM's certificates game, you got what you deserved if you didn't sell at the top. Should have either been buying physical metals, or else should have known the house would change all the rules and burn your ass eventually.
Gotta focus long term and stock up on necessities, including physical PM's - gold, silver, and lead. Let the dopebot-trader and meth man's of the world play the paper game, you play the real game.
"As of May 9th, the initial margin is $21,600, or 11% of the contract value, while the maintenance is $16,000."
This seems entirely reasonable given the volatility. Look at it from a broker perspective. There are no price limits as far as I can tell. A broker would be wise to raise margins even if the CME made no adjustments.
I tend to agree, Poydras. But its like a casino raising the limit in the middle of a poker game; the little guy is fucked.
Bottom line, bring some to get some!
Huge paper silver unwind in progress. Just another 100 billion ounces in paper to go. Got to kill all contracts to stop the last few physical ounces from getting pulled out of Crimex.
Lovin the action. Bought a bit more physical today while there is still availablility. Expecting "sold out" signs everywhere. If the EE wants my physical they be payin with their blood.
Your at 52 junks now Math man...
Now Fuck Off.