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Commodities Take Out Support As Deflation, Economic Slowdown Fears Surge
And so the overly expected "deflationary" wave takes hold, just in time for silver to take out the $40 support. Next up: everyone runs to the exits over fears that despite nothing having changed, deflation is gripping the land, which, of course, is precisely what the uberprinter needs in order to get QE3 approval. In the meantime, weak hands should certainly hit those bids. While that is happening, we eagerly await to see to what record low Comex registered silver drops today, not to mention seeing InTrade odds on whether QE3 will come in August or November...
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You don't understand the market or what is going on. This is why you and anyone who listens to you will get slaughtered.
Silver can go to ZERO for all I care. Mine isn't going out the door, and I won't be playing any paper games.
You said the market was flooded, but it was just in COMEX deliverable form. You were WRONG. The supply shortage is real. The demand for physical is real. The only thing that is imaginary is your wealth.
What ever you say Tmo... you're the one who doesn't understand, and continues to hold 95% silver while an obvious bubble implodes. Any body who listened to me made a boat load of money.
If you had listend to me, you would have hedged your silver with some puts, and you'd be using the proceeds to buy even more silver. But you're not. You're crying about not being able to buy a silver bar from APMEX, when any body who wants to buy them in SIZE can purchase as many as they want.
Take a look where the July puts on SLV have done in the last week... It's already paid me back for the option premium I bled out in the first quarter -- and then some.
Here is another tip - buy Sept puts on GLD... the implied vol is in the low 20s. You'll make a mint.
I'm not "crying" about anything. You said the market is flooded. But you don't seem to know what the word "flooded" means. It means there is supply EVERYWHERE. Instead, there are exactly 12 COMEX deliverable silver bars that I can find. 12,000oz of silver is NOT a god damn flood.
15.4mm came out of SLV. 15,400 bars.
You can buy as many of them as you want.
Just not from APMEX, you fucktard.
Or ANYWHERE ELSE.
No one put this guy in charge of the national guard, he'd have flood control teams setting up sandbag dikes around homeowners yards while they water their lawns.
THEY'RE FLOODING THE WORLD WITH THEIR SPRINKLERS! OH THE HUMANITY! I'VE NEVER SEEN SO MUCH WATER!
This is posted below, but I'm also posting it here, because it is important:
You still don't get it. There are two markets - one for retail (like yourself), and one for institutions, who buy in large size.
It's like the corner store vs the warehouse.
APMEX is the retail market - corner store. That is where you shop.
The SLV bars that are coming out of the trust go in to the institutional market - the warehouse. This is where the big boys play - not you.
Unless you go to the institutional market (allocated or unallocated storage at a bullion bank), you can't buy them. Once the bars leave the institutional market, they lose value (because they must be assayed again). For that reason, very little institutional silver is moved in to the retail market, and that is why you can't find very many COMEX bars. You're looking in the wrong place.
If you want them, you have to buy them in the institutional market and take delivery. (From the bullion bank, or have your SLV shares converted - same difference)
SLV is flooding the INSTITUTIONAL market with physical silver... maybe because the paper market is puking or maybe vice-versa, but they are self re-enforcing feeback loop at this point....
SLV has allowed retail stock money to buy silver in the institutional market - through the creation/redemption process. As retail pukes, that silver is being dumped on the institutional market - and driving spot lower. And it is best to get out of the way - as there are tons of silver available, just not at the retail channel. Remember only 10% of annual supply was made in to coins in 2010 - and that was a good year. Three years ago is was 5%.
It is funny how all the PM bugs think buying physical runs the price up.... well, actually it does. But not through APMEX - it happens through SLV and the ETFs, who are buying physical silver in the institutional market and placing it in allocated storage. That is why I was warning you about the high volumes indicating that fast money in SLV a few weeks ago. When that fast money leaves, the creation/redemption mechanism causes silver to be dumped in to the Institutional market - and pressures the price lower. There are still 350mm ounces in SLV. Look the fuck out on the way down is my only advice.
How convenient, an invisible flood that only you can see.
Get the fuck out of here. The market is the market is the market. You claim the market is flooded. It isn't.
The silver isn't there. Have YOU seen it? With your own eyes? No? Well, I'm glad that you trust the word of a banker. You'll go far with that kind of unquestioning attitude.
There is no helping you, is there? Everyone can see the flood except you because you have your fucking eyes closed.
The silver is there - and fully allocated. There is a bar list and an audit. It's held by the trustee at the various bullion banks. 350mm ounces --- down from 366mm.
Since it peaked 15.4mm ounces of it have been sold... and it is still in the bullion banking system - and it will more or less never hit APMEX. If you want it, you buy it through the appropriate channels. Not APMEX... have fun while SLV continues to have outflows and prices continue to collapse.
http://tulving.com/goldbull.html
49 cents/oz over spot delivered to your doorstep.
And there you go Tmosely --- over 450k ounces in stock.
Now will you shut the fuck up?
Wrong again. They have TEN. Not exactly a flood. Where's the flood, Methhead? I can buy the silver I want, but that leaves enough for one more "big" buyer. What then?
Don't piss on my head and tell me it's raining.
Tmo-
You can buy as many as you want - just not through retail channels... how many times does this need to be explained?
Call up a bullion bank, and tell them you have a few million bucks, and you want to buy some allocated silver. You'lll have it allocated to you that day. And you can take delivery later - but not before securing vault space somewhere else, insuring them and setting up transportation. But hey, if you want to keep trying to buy a Ferarri from the Chevy dealership, I can't help you.
15.4mm ounces - or 15,400 bars have come out of SLV during the collapse.... and more will keep coming. You can buy as many of them as you want, if you have the cash.
If there are very few at the retail level, then the market isn't flooded.
QED.
Now shut your liehole.
What ever you say. If there are no Ferarris at the Chevy dealer, there must be a shortage of Ferarris.
But your original argument was that Ferraris were everywhere. Then when people make the obvious observation that they aren't at the Chevy dealer you say, well, duh, why would Ferraris be at the Chevy dealer. This is quite possibly the dumbest troll loop I've ever seen.
No, that they are at the Ferrari dealership. You have to go there to buy one.
If you want to buy a Chevy you do it at the Chevy dealer.
APMEX for retail size orders (coins), bullion banks for institutional orders (comex bars).
Simple enough.
Tmo is looking for a Ferrari at the Chevy dealer and can't find one because he won't call the Ferrari dealer.
I found 12. Hardly a flood.
You do know what a flood is, don't you?
If the market was flooded, you would be able to find COMEX bars at pawn shops. Hell, even the larger coin dealers in town, which used to carry them, don't have them any more. Hell, they don't have ANY.
Your car analogy fails. Use my house analogy instead, since it draws on recent experience. You didn't have to go to some central agency to buy a home. The market was flooded with them! EVERYONE was trying to sell houses. They were flipping them like they worked at IHOP.
You would do well to learn how to use the english language, preferably in a way that didn't communicate absolute bias.
Look for what it's worth - I don't buy large quantities of physical metals but historic retail demand for that size keeps retail dealers from stocking much of it. Also, most of the entities who do trade in that size do not want physical delivery or to break custody chain as you now are much less liquid until its re-verified/examined (basically you have devalued or delegitimized it once removed). Keeping it within the chain of custody and allocated vault space is part of what has been a very desirable (albeit negative carry) package for many many years. You are looking to buy in institutional PM quantities or at least in relevant unit sizes, you have to go to someplace that carries it and deals with those customers.
Using the housing analogy - if you want to buy a house of which there are many, you are in the mid-desert and will need to drive/walk to where the houses are. You cannot see them because of your isolated vantage point, it's not that they don't exist or are part of a conspiracy theory.
Thank you. Again, just because you can't find COMEX bars at APMEX, does not mean you can't buy them.
Or that it even makes sense to buy them there. Do you think you get a full factory warranty, even if you can find a Chevy dealer that has a Ferrari on the lot?
15,400 bars just came out of SLV..... you can buy as many as you want. Just not retail.
Yeah, and where did they go? Certainly not the market. Because they aren't there. They have 12.
Again, what part of the phrase "flood the market" are you having problems with? You either don't understand what a flood is (is that when there is no supply? idunnolol?), or you don't know what a market is (a place where goods and services are traded publicly on a cash and carry basis, not where you buy a receipt and then have to have a lawyer fight for months or years to get delivery from a bankrupt system).
You still don't get it. There are two markets - one for retail (like yourself), and one for institutions, who buy in large size.
It's like the corner store vs the warehouse.
APMEX is the retail market - corner store. That is where you shop.
The SLV bars that are coming out of the trust go in to the institutional market - the warehouse. This is where the big boys play - not you.
Unless you go to the institutional market (allocated or unallocated storage at a bullion bank), you can't buy them. Once the bars leave the institutional market, they lose value (because they must be assayed again). For that reason, very little institutional silver is moved in to the retail market, and that is why you can't find very many COMEX bars. You're looking in the wrong place.
If you want them, you have to buy them in the institutional market and take delivery. (From the bullion bank, or have your SLV shares converted - same difference)
SLV is flooding the INSTITUTIONAL market with physical silver... maybe because the paper market is puking or maybe vice-versa, , but they are self re-enforcing feeback loop at this point....
SLV has allowed retail stock money to buy silver in the institutional market - through the creation/redemption process. As retail pukes, that silver is being dumped on the institutional market - and driving spot lower. And it is best to get out of the way - as there is tons of silver available, just not at the retail channel. Remember only 10% of annual supply was made in to coins in 2010 - and that was a good year. Three years ago is was 5%.
It is funny how all the PM bugs think buying physical runs the price up.... well, actually it does. But not through APMEX - it happens through SLV and the ETFs, who are buying physical silver in the institutional market and placing it in allocated storage. That is why I was warning you about the high volumes indicating that fast money in SLV a few weeks ago. When that fast money leaves, the creation/redemption mechanism causes silver to be dumped in to the Institutional market - and pressures the price lower. There are still 350mm ounces in SLV. Look the fuck out on the way down is my only advice.
Deflation in everything that can be bought at a Garage Sale, including the garage and the real estate that it resides at. However - demand and SUPPLY (or lack there of) will always govern the PM's - so color me long
Deflation in everything that can be bought at a Garage Sale
so true. Past weekend I picked up a lovely bronze Korean picture frame exquisite detail 8x10 from the fifties. Numbered. $1.
Hilarious. PM's selling off even as the USD nearing record lows. I've seen this show a thousand times. Watch as I feign surprise when gold and silver recover following Friday's Bureau-of-Make-Believe report.
Yep, I sold all my fiat based silver and gold exposure in my 401k last friday and a few stub positions yesterday.
You don't want to be in front of that falling knife right now.
Of course, I have been buying physical and will continue to do so.
And really, the fiat price of silver is of no consequence and doesn't mean donkey balls.
In the end--which is rapidly approaching--an ounce of silver will not be worth $x, it will simply be...an ounce of silver.
I wonder which currency I will ultimately end up converting my silver into once the USD collapses into oblivion??
got 2 puts , one at 43 , one at 34 , just waiting to sell them , but not parting with my silver (bought on average at 29) . excellent opportunity to increase the ounces
I am set up for swiss francs
I'll believe that when the REITs finally stop charging forward. When strip mall [true] valuations fall below those of gold miners, perhaps something would suggest deflation. In this case, something for which valuation SHOULD fall.
Simon Property Group is currently sporting a 55 PE. Goldcorp is less than half of that.
Yes, and fund inflows into the REITs continues unabated. Fund outflows from the PM sector have reached warp speed, wouldn't surprise me to hear many funds like Tocqueville get shut down soon from lack of interest.
Inflows into REITs from the FED, who is desperate to keep 'their assets' from showing their real true disastrous condition.
Indeed. Lemmings run together in a pack until they arrive at the cliff...and then for for a moment, they think they are flying.
The cliff on SPG is rapidly approaching. Considering the speed of the lemmings [see the first hour and the last half hour of yesterday's trade], they may well reach it today.
All about the 401K bathrobe brigades sitting at home with CNBC on, got to keep them placated just a bit longer! If they all decided they see signs of their statements going down and put in sell orders to this empty casino, imagine the carnage! Ben cant have that, must pump 401K's.
awesome....401k bathrobe brigade, i'm totally stealing that
LMAO!!!! Waaaay tooo funny!
Purely from an economics and market point of view, we're now on a greased downhill slope. Throw in the behind the scenes tinfoil stuff going on, and any day we could see a very fast total change in everything due to 1 large mid east country attacking another large oil producer overnite. Or terrorist groups here carry out on their promise for 'large scale attacks against the US' upon capture or death of Bin Laden. Who knows, but we're on very shaky ground here 1 big event here all bets would be off and we'd be looking at terrorist attacks here, nuclear events, all that.
It works today, Dog. All time classic comment.
Strange: dollar down, commodities, metals and indexes going down. Anything going up?
I hear Hopium dealers are making a killing, huge demand.
I noticed the same thing earlier. Dollar was hovering around 72.95 for two hours, only to jump to 73.10 in 20 minutes time. It's been hovering there ever since. This is definitely a strange day. But, as somebody else already pointed out, we may see a last minute jump in the DJIA. I don't doubt that at all.
The Euro and Franc have seen a small jump, though. Nothing much.
SIRI, of all things.
Wow, this day is crazier than I thought.
Trolls are up, farting themselves toward troll heaven.
cash holdings
Funny how paper-pushing financiers like AXP have skied this year, and remain completely unfazed from all the commodity woes, inflation/deflation debates, etc.
Credit card companies appear to be the ultimate hedge against an economic slowdown.
Funny how youre such a total assclown.
"Credit card companies appear to be the ultimate hedge against an economic slowdown."
good one, RT! soon, we'll be hearing how the new hirees in the financials are buying and bundling student loans. moody's will rate them AAA, b/c they're goobermint guaranteed! this puts them so close to "money" that they can be traded for oil & PMs. just ask the students!
Robo - too funny... you made me chuckle.
Funny how you didn't include a chart or photo in your post.
no QE3, if QE1 and QE2 failed to prevent deflation then QE3 and QE4 will also fail, deflation is part of the cycle, it naturally has to occur, this is beyonf man control, you can't inflate a balloon for ever otherwise it will burst
My mad old Uncle Ben says you can, he even showed me the magic printer that does it.
It kinda reminded me of the old horror tv show Friday the 13th I watched. A gardener's assistant gets hold of a cursed mulcher. The more wealthy and valuable the person you feed into it, the more money that comes out......acutally that does sound kinda of familiar....
deflation / inflation either way I wish this circus would end. Then we can get down to rebuilding, at the moment everyone is in a hold position....nothings gonna happen till this crap gets sorted, apart from btfd.
'I give you this pretty paper - you give me your land'....ah the good old days
/sarc
Ooooh - QE3 = buy stawks right?
Deflation? Only in the price of my house.
30% real value
70% ¨counterfeit value¨
.....................................
Realization is 30/100.....
Sooner or later ....THIS HAPPENS....
I'm curious to know how the DJ slams the breaks on every time it drops 100 points. It's like auto-pilot kicks in.
my nflx and crm puts are going up...
And in the meantime, I will continue buying these dips.
Looks like GS/JPM/Fed are following the plan outlined here on ZH over the last three months.It makes you smile to see it unfold all the same.
They say George Soros is behind this recent action. I think that's a load of BS! Likely a false flag event piled on top of the multiple margin increases in order stall gold and silver's steady march up. Fundamentals have not changed. The dollar is crappier this week than last. etc. etc. etc.
http://www.marketwatch.com/story/gold-silver-extend-falls-in-asian-trading-2011-05-04
If its Marketwatch you are better off bining it.
Talking of false flags , before June 10th a dirty bomb in some where like Seattle.Then the Government will say it was made in the nuclear facility in Iran and off to war we go.
Negative interest rates, b-b-bitchez.
As you all get scared over the multi-day slide, keep in mind that gold fell 10 of 11 trading days in 2006. What was day 11 of the selloff in 2006.......the bottom. That bottom has held ever since. I remember all too well the 10th day of the slide was a 7% down day in gold. The biggest I have seen of this bull market.
I want a quick wipeout here and now in gold/silver prices so that I know the suckers have been cleared out of the market. You all should be hoping for a two week slide in price so that you can be sure it is the bottom! Silver would probably fall to the high 20's, but that would represent a great entry point.
"There is no way the Bernank will allow deflation...."
You all got a big surprise coming when you wake up and realized the Fed put on asset prices does not exist. In fact, you all are the Fed put. All they have to do is trick you into thinking that massive inflation is coming. That way instead of stuffing away your hard earned wages and preparing a cash cushion, you help bailout the ultrarich providing a nice exit point for all their bad asset bets that shouldve been totally wiped out if the banks were allowed to fail. A couple of Trillion in $ reserve creation can't stop the write off of the portion of 200T in global $ credit that is bad (this excludes derivs). What percentage this turns out to be is anyone's guess, but its a hellofalot more than 2T. Just because banks get to carry their HELOCs at par even though the borrower isnt making their 1st lien payment, doesnt mean that that $100 really exisits....its just a book entry, and when the real collarteral liquidation comes you watch the whole it blows in these should-have-failed banks' balance sheets. Thats when those 1.4T in "excess reserves" will come in handy.
lol, I guess POMO and QE are just conspiracy theories, then?
huh?
Exactly.
You have no idea what you are talking about.
I don't know what kind of crack you're smoking, but every rich person I know (and there a few here in Topeka) is buying SIZE in SLV and GLD because they know that The Bernank is trying to destroy our currency at the same time as they are raising our taxes!
The rich people you know are going to get fleeced.
Physical or nothing. Those are the choices.
physical is fiat too
Take a one ounce bar and restamp it to say "100 ounces".
If you can then trade it for 100 one ounce bars, then you are correct.
If you can't, then you are a moron.
This is looking like an almost precise re-run of the summer or 2008.
Lather. Rinse. Repeat.
LOL! Question is, where's the "money" going to go?? And, how can this not mean QE..n?
Sell faster! I want to see some real panic!
I think its time to start junking genuine Troll comments of the trolls out of existence instead of scrolling past them. I think their only purpose is to spread spite and pollute the thread.
How many junks to get rid of a comment? 50?
I tend to agree that some of them are part of some desperate psyops to malign PMs.
50 junks completely remove a post - i think when not logged in, they are already hidden earlier.
The problem is that they can just spam threads with posts, so that the effort for junking all those posts 50 times becomes unreasonable. Yet, reducing the limit also is problematic, because they could then create a bunch of accounts just for junking, and sabotage normal posts in threads. In short, the junk-system is missing one critical feature: trust. If you ever did anything in security that didn't involve trust, then you didn't really do security work. If that step was a bit too far, here's the longer explanation: A junk by a new account right now counts as much as a junk by a veteran account - yet, precisely this aspect: trust and age - is what differentiates a dozen newly created sockpuppet accounts, from veteran accounts.
We were always in a slowdown, cmon stop joking
Heard it straight from the administration's mouth-- placing all hopes and trust upon Shitanke's ability to manipulate prices in the near term to solve the gas price issue in time for Obama's presidential election cycle. The fix is in, but more importantly this is exactly what's wrong with this country and system. Rather than deal with the special interests that have killed the democratic process in this country, rather than coming up with proposals to better secure a stable and productive energy plan for our country and environment, rather than deal with the issues head on, it's better to rely on manipulation and control of prices in the short-term. We're no better than a totalitarian regime and it's utterly pathetic how the illusion still has many fooled-- can't even stomach this bullshit anymore.
It doesn't matter when QE will come-- it's obvious there is no capability for these idiots to come up with solutions so it's now a shit show: wait til the risk off is so unbearable for the elitards and soon you'll hear the rhetoric change. Dollar destruction is the prescription for Dr. Shitanke and his genocidal crew.
Fuck this system and fuck us all for letting this continue.
I comfort myself with the fact that Silver is still up over 90% on the year.
However, this take down has been nothing short of astonishing, so far.
If it dips below $34, then $23 will be the next target. Let's hope it holds at $34, if and when it gets there.
trolls? on zH? EK and methman were wonderful here! methman now haZ 2 assholes with which to troll...
will buy silver @ $15 and $5 for an average price of $10
You just outed yourself as a troll.
parabolic up must be followed by parabolic down
Made a chart prediction of coming gold bubble and its relatively modest (25%) correction before returning to 2000 USD reached in peak:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=32176#p32176
Feel free to object based on rational or irrational grounds. There is still time both to join the move up, and to jump the ship at the peak ( October 2010)
Made a chart prediction of coming gold bubble and its relatively modest (25%) correction before returning to 2000 USD reached in peak:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=32176#p32176
Feel free to object based on rational or irrational grounds. There is still time both to join the move up, and to jump the ship at the peak ( October 2010)
Ivars :
What do you feel for 2012/2013? your PM prediction made in march does it still hold?
With a flat plateau in mid 2012?
They will keep printing now that the commodity fears abate, then we will [at an increasing speed] see When Money Dies
Well, I cashed out at early $40's on physical I held since last year.
Total 25% return in nice CHF's. Given the recent bashing of the USD and the equivalent one on XAG, I give it till $35 before I jump back in. Even in the case where 35 isn't breached, CHF will continue to appreciate vs. USD thereby buying me time to jump back in.
People need to be less emotional about their investments. Being religious about something or getting greedy is never a good recipe.
And to the paper/fiat haters: I see your point but I've read what a post-fiat, post hyperinflation world looks like and it beggars belief that some people are actually looking forward to it..... I agree the end is near but I rather dread this outcome (however certain it is), not yearn for it.
+ 1
All the extreme trollishness is part & parcel of the mainstream media anti pm push that began RIGHT BEFORE THE SLIDE started.
We just saw the same thing back in Feb?, massive media manipulation & that includes paid shills on blogs like this.
If someone is taking money to anti-pm blog here then it's probably safe to say they are NOT wealthy or even very good at investing. lol
A nice correction is part of the game & necessary. PM seasonality says May-July is normally brutal then flat.
This correction is normal profit taking at the normal time plus OBVIOUS manipulation during low volume hours. Kudos to Ben Bernankes boys for figuring out a way to smash commodities without endangering equities too much so far. You have to hand it to them.
I just went over to T. Fergusons site to see what he has to say; says wait & see what happens today to avoid a falling knife. Also says he expects the price to swing back up beginning around May 17th into June. He's lowered his June $60 target however.
http://tfmetalsreport.blogspot.com/
Like other posters have mentioned the dollar @ 73 tells you this is NOT summer 2008, not yet anyway.
Self-important fucktard do you really think the media would pay someone to post on this blog.
You are delusional, you bought the hype from the same media. silver to $150.
It's a commodity with no impending shortage fucktard, the only reason it rose is investment demand, now it's falling because those that need it for a useful purpose like solar panels and computer equipment will not pay this price for it.
Shove your rounds up our ass and your glock in your mouth.
bothsidesnow
a Judy Collins fan are you?
methinks you would more accurately represent yourself if you had chosen....
SENDINTHECLOWNS
Ahh you fucktards keep debating spot prices. Look at what's going on in the physical market you bitches!
ScotiaMocatta just sold out of bars (except the Valcambies which nobody wants) https://www.scotiamocatta-estore.scotiabank.com/stores/scotiamocatta/cat...
Ebay May 4 - http://i54.tinypic.com/161jadf.png
Yes Ebay is the main spot market Southern Copper goes to hedge out its precious metals gains.
Apmex is awash in blue tabs and taking on more faster then they can pump them out. Watching the inventory wash overboard leaves you feeling empty.
Silva birchez! LOL
What's the conspiracy theory of flavor today?
Here's one, more sellers than buyers = price goes down.
No shortage.
No COMEX default.
Demand destruction.
BTFD, LMFAO
sad story for silver going to $150
Silver threads and golden needles cannot mend this heart of mine...
LOL
Alexander Pope was right, hope does spring eternal in the breast of Man.
Holy #uck! Look at Silver fall.
You know, it takes some intestinal fortitude to sit on physical with it is at $50, and know that its going to fall to below $30 (as it is now)... knowing full well, that this is the close of Act 1.
When Act 2 begins, Silver is going well above $250 in a very violent fashion... and we won't be waiting long for this to happen.
Asymmetrical Language Trending Analysis (the science behind webbot work) has been predicting this meme for over 10 years... Note: I'm not associated with them. Not investment advice.
This is a last ditch, concerted effort to cover their counterfeit contracts. They are going to drop the paper Silver price as low as possible so they can cover without going bankrupt. Once this is done, look out above. In the mean time physical Silver premiums and commissions are being increased or they simply quit taking orders for physical Silver simply putting "Sold Out" signs on everything. I would love to see the bullion banksters out trying to buy physical Silver anywhere close to their manipulated paper spot prices.
Blythe: I bid $35 for physical Silver to be delivered.
Dealer: Sure! $35 spot + $10 premium + $5 commission and you are responsible for shipping and handling. That will be $60 an ounce.
Ahh the trolls and the bears make it seem more fairytalish' then it already is. I wonder if their fat fingers can sell their stocks faster then a picosecond cause that's how much time they'll have to sell their Apple stocks.
Some people think equity prices are manipulated -- higher.
Some people think PM prices are manipulated -- lower.
Some people believe holding physical PMs is safe.
I think we're all worm food in the end.
My theory is that while the banksters are short they are depressing the prices of silver and gold to buy physical on the side. After all the Fed can conjure up any amount of dollars for them to depress the prices, being paper prices . And when the crunch comes at it surely will ,they will throw in the towel and put the debt on the taxpayer while having siphoned of the real gold and silver for the new era. Or call it the New World Order.
Just clicked on ebay to see what the phsical American Eagles are selling for. the last 5 auctions were 50.50, 47.50, 46.75, 52 and 49.50, for an average of $49.25. Spot is about 10$ less than that right now. Not too worried about the physical, and will buy what I can next payday, whatever the price.
My theory is that while the banksters are short they are depressing the prices of silver and gold to buy physical on the side. After all the Fed can conjure up any amount of dollars for them to depress the prices, being paper prices . And when the crunch comes at it surely will ,they will throw in the towel and put the debt on the taxpayer while having siphoned of the real gold and silver for the new era. Or call it the New World Order.
T Mosely I'm still here,where are you fucktard.
I'm all over this thread, and all the others.
But I guess you're not much of a reader.
I read and post on many of them, check my posts like you did the first time you bashed me.
I was just trying to protect the newbies from getting screwed.
Yeah, I'm sure that's what you were doing.
Physical holders are doing just fine without your "help".
wait a minute...you called me a self important fucktard but you're on a "mission to protect the newbies"???
bwahahahahaa
by bothsidesnowon Wed, 05/04/2011 - 12:58
#1238940
I read and post on many of them, check my posts like you did the first time you bashed me.
I was just trying to protect the newbies from getting screwed.
You guys were right!!
There is a barter society forming.
Everybody is bartering their silver for dollars!!!
gh
Regular readers will be familiar with this summary.
When DOW/S&P500 correction gathers momentum, I expect:
UP ~ USD, various USDXXX currencies, VIX Index
DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL.
http://stockmarket618.wordpress.com
And Asian buyers are currently buying hand over fist. Their like kids in a candy shop right now. Good work Crimex.
http://silverliberationarmy.blogspot.com/
Suddenly everyone knew silver was going to come down hard. But, how many had the guts to sell last week? How many had the balls to short it? I admit I didn't. If this isn't a F*^%ing dip, I don't know what one looks like. If you aren't buying silver today, you no longer have a right to use the acronym BTFD; you have to spell it out from now on.
I announced to the world repeatedly that i was buying ZSL at 13.69 last thursday. i dont think the bull is permanently over.
I dont want to be too trollish but i think it might yet be too early to buy unless you are buying small amounts regularly in a dollar cost averaging or silver ounce averaging move.
I did check my posts, I went short because RSI diverged from price on the move from 40. You will find that information in my posts.
I got junked for it.
If Silver cost $5/oz to mine why aren’t mining stocks climbing ‘significantly’ higher at these prices. I have read some of primary silver miner’s financials and they aren’t make 400% profits. Who is pocketing the spread (mine to mint) then if it exists at all? Seems to me they would be making paper money at record rates even at $10/oz market price let alone $20 or $30? Follow the money, who is making this spread if it exists?
Also I think many are missing the key difference between a currencies value as a ‘store of value’ and currencies value as a ‘medium of exchange’. ‘If’ Gold and Silver become the next medium exchange (post world wide paper collapse) their value will be significantly higher than the cost to mine as the world will need to quickly establish some new medium of exchange. A medium of exchange that can’t be manipulated by any nation in order to eliminate debt or distort trade. In fact it doesn’t have to be Gold or Silver it could be anything difficult to manufacture world wide and thereby has an inherently high value for a given mass or volume.
Therefore could the premium being paid today (if it exists at all) between the cost to mine vs. market price for Gold and Silver be a product of the market’s anticipation that Gold and Silver could once again become the foundation of global trade?
Wouldn’t this ability to facilitate trade necessarily place the value of Gold and Silver far above its mining cost? Not unlike how all fiat currencies the world over have values significantly higher than their respective printing costs? What justification is there for any premium over manufacturing cost of any exchange medium over its manufacturing cost other than its ability facilitate trade?
The store of value for any medium of exchange is not in it cost to manufacture but rests primarily in its acceptance as a medium of exchange. So whether it cost me 1 cent or 500 cents to make the currency is not the real driver of its store of value potential.
What is the average mining cost of Gold BTW?
How can we start having serious deflationary worries when we are printing money at an extremely fast pace. We went to serious inflationary pressures to deflationary over night or what?
FED and politicians can't stop deflation, you think the FED is god, a lot of people keep saying FED won't allow deflation to happen, they can't, deflation will happen and will end the FED with it, this is a cycle, inflation cycle followed by deflation cycle and so on.
I'm pretty sure most here who have been following this stuff for a while understand that the Fed prints until they can't, the currency collapses bringing in hyperinflation; then depression hits after that exhausts itself fairly quickly. And boy it will be depressing.
In the meantime the precious metals protect & preserve your purchasing power on the way up and on the way down. Inflation or deflation you are covered in part with pms.
Right now they are playing the inflation/deflation fiddle with the tune changing to deflation currently, but at some point their strings will all be broken.
by z123on Wed, 05/04/2011 - 16:20
#1239987
FED and politicians can't stop deflation, you think the FED is god, a lot of people keep saying FED won't allow deflation to happen, they can't, deflation will happen and will end the FED with it, this is a cycle, inflation cycle followed by deflation cycle and so on.
Let us not forget nature and forget about evil banksters for a moment.
Asset prices (i.e. the economic cycle) are a sine wave, always have been, always will be, just the way the universe works.
Historically the wave form had a lower amplitude and longer wavelength. The peak of the waveform sees higher asset values either through inflation or real economic growth, the trough of the wave is deflation or slowdown in economic growth.
My view is that the waveform has undergone a significant change in that the frequency of the wave has changed in the commodity sector. This makes sense in a world with an expanding population competing for resources. The time from peak to trough is shorter and in my estimation will continue to decrease until the waveform finally collapses.
The waveform may collapse as a result of financial conditions but my intuition tells me that it will collapse as the result of an external event that will cause the reset button to be hit.
In my opinion it will not matter what assets you have when the reset button is hit. Several books written in vastly different parts of the world describe the reset button, seems to me they cannot all be wrong, or are they the mother of all conspiracy theories? I think not.
My advice is to enjoy the moment, their are no guarantees that will you be breathing when the next moment arrives for never forget that nature bats last.
I do not believe anything or anyone anymore! Everyone has some motive in what they do and say that is less that straightforward. These markets are all rigged to create the waves of fear and greed to suck the blood and life from all day by day.
I am comfortable owning precious metals, and energy as they have intrinsic value and there is a limited supply and increasing demand. The sell offs of the recent days feels like an opportunity for those with capital to get in the game again.