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Correlation Desks Gone Apeshit: Announcement Gov't To Allow 13 Oil Firms To Restart GOM Drilling Whacks... Silver??!!
And then there was one... correlation desk. Following Reuters news that the US government would allow 13 oil firms to restart deep-water Gulf of Mexico drilling without the new environmental review (under certain conditions), oil drops, drillers spike... and precious metals plunge. Obviously, this is just because silver extraction is so very closely tied to how deep underwater a given jack up can reach. Record correlations may have declined, but only to be replaced with correlations that no longer make absolutely any sense. This is just how ridiculous the power of Wall Street's correlation desks is now that almost nobody is trading.
Crude and...
Silver...?
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...and me clipping my toe nails causes bonds to go up. it's the new world of correlation, baby!
Gold (and silver) will get CRUSHED
Its best to explain your position on this site , soundbites just don't cut it.
CRUSHED; as in overbot and you go pee blood
Yup, who needs real monie? Surely not the Central Bankers who hoard tonnes of it and then use it as colateral for their ponzi scheme.
Your being much too kind.
Collateral means they give up the gold if the ship goes down; they don't have any such intention.
Thank you - thats all I need to know.
He claims he sold all his insurance, err silver coins, and requires validation that the correct decision was made.
People who do what HE said he did, usually have an agenda.
Its called GET the F outs Dodge, and own a nice little piece of land outside CONUS.
Expatrating.
Crushed to dust?
LOL
Please, I'd love to buy Gold for $1000 / oz and Silver $20 / oz.
Send me an email.
ibuyallgoldandsilveroftheworld@gmail.com
There will be blood
Mostly yours I'm afraid.
Then we shall make blood pudding.
Silver Manipulation - you can set your watch
http://tfmetalsreport.blogspot.com/2011/01/setting-your-watch.html
Silver surpassed 1$ per gramm today
on silver eagle is stamp says 1$ troy ounce.
just funny to see silver 31.1$
Start drilling for oil in the GOM ???
Why the hell do they need a drill? Can t they just sink a big straw and suck up the oil lake thats sitting on the bottom, fucking up the gulf stream?
Then maybe us Brits will get a decent summer this year.
Regards
Ozzy
Pls Mr Pinion,
I implore you,do not blame the U.S. for BP's half assed drilling procedures in a mile of water.Esp off our coastline,not YOURS.
Regards,
Texan
That's pretty ballsy when a brit comes and complains about BRITISH petroleum fucking up their beaches with a spill in OUR gulf. I say we dig up a bunch of red coat corpses and break the middle fingers off of them and put them in bottles, and toss em off a stolen speed boat off the coast of england. Or at the very least make them bury dick cheney in their royal graveyard.
I'd like to see a Star Wars spoof featuring Blyth as Darth Vader, and Max Keiser as Luke Skywalker.
But who will play Hans Solo? Or Yoda?
Summers left, so we don't have a Jabba the Hut, either...
Tyler Durden is Solo, and Yoda is played by Gerald Celente.
You mean this?
http://i25.tinypic.com/29b0qv5.jpg
http://www.chuckypita.com/wp-content/uploads/2008/08/obironkanobironpaul...
I think the correlation derives from the coded message the well drilling news signals. *Time to take down all commodity classes* per Commandant's orders.
10-20% drop in PMs please 1 time!
Not going to happen. We will test $1395. Then it will be another great year where some people realize gold is monie, and everyone else top calls like clucking chickens.
According to Canuck(I think) Bob Hoye, he says we are going to hit the wall, and the PM's are bascially going WAAAAAAAAAAAAAy down.
Done. Now what?
Come on maings,
This is a gesture to insure TPTB can keep this bubble going. They have realized QE2 effects on the price of oil/gas now is out of control, and with that, they must keep the rioters at bay with this announcement that they are attempting to keep oil/gas prices under control. This is nothing more than a false hope in security that they are doing something. In essence, they already know the results that follow will not stop the price increase at the pumps because of the time delay from announcement to getting the oil. Better buy a 3 wheeled bike for your grocery needs.....or walk...
Please, please pull back the Silver.
Crash prices for all PMs for all I care.
The sooner the prices crash, the sooner it becomes obvious to all that nobody is willing to sell anything for the worthless US Dollar.
I can only repeat myself here .. but this is exactly how things unfolded in the former USSR. The government had FIXED the prices to make all feel warm and fuzzy but the reality was that there was no market for the government fantasy prices. Dealers and traders for anything of value wanted to get paid in real money in real terms.
The strategy of the US Fed and UST are very clear. Debase the currency all the while try and give the illusion that the currency has a value. Eventually the people will catch on to it. Just a matter of time now.
Within this DECADE my friends the US will default on its debt, go bankrupt and the USD will be replaced.
Simple and inevitable.
Oh, and Happy New Year. Happy New Decade.
Silver is going to stall for a bit before going to $31.90 whereafter a strong correction maybe possible.
I have a video explanation link to post shortly clarifying why I do not believe the dip was 'conspiracy land'.
Just finalising it now.
What really happened to Silver today...
Silver was on a moon shoot over the Holidays..
Manipulation had to bring it back to Earth.
Silver going to $60 in 6 months would send all US citizens to their bank vaults and clear out every penny to convert to Silver.
Think about it.
JUST KEEP BUYING THE DIPS.
wow...silver falls .23 and it's "manipulation"?
Let me see if I have this straight...it's manipulation anytime it goes down, right?
Every day, at exactly the same time. You can set your watch by it: http://tfmetalsreport.blogspot.com/2011/01/setting-your-watch.html
... and life goes on.
Do you folks whistle while you work?
Delivery, bitches.
Why Zero hedge may be wrong on Silver & WTI Crude correlation conspiracy.
Zero hedge, Crude & Silver
http://www.youtube.com/watch?v=I692aQPN8yU
Yeah just a coincidence - move along nothing to see here...
"My x86-64 said both are commodities. So they should be perfectly correlated." o0
The correlation is simple. More oil drilling means fewer roughnecks sleeping at home and gritting their teeth. Less gritting means fewer silver amalgam fillings destroyed and less demand for silver. This is all so obvious.
What in fuck isn't WAYYYY overbought right now, except for bonds, and in need of a correction?
Obama and crew showing a sudden friendliness to US drilling and business. Fear money maybe getting a little less fearful of the appearance of US and global economy obituary. Government never going to paint a less than rosy picture for the economy so it may be a bumpy ride for gold/silver in the short term.
Friendliness?,
Horseshite...............its all about TRYING to make peace with 16 million unemployed Americans, and 2_0_1_2.
For 2yrs its been all, ALL about bringing us to our knees.Not listening, ignoring, and saying FU.
Doing as HE pleased ,as they pleased, and it all but cost him his NADS.
My opinon, skip the shit, we know you better than you, and just go play golf, thats all your good at.
Like the Issa said, the MOST CORRUPT ADMIN in this century.....what an understatement.
Foreskins to the walls.
Here is The technical analysis as to why they both dropped.
http://www.youtube.com/watch?v=I692aQPN8yU
http://www.chron.com/disp/story.mpl/business/energy/7362776.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+houstonchronicle/business+(chron.com+-+Business)
This is why NO ONE can declare PEAK OIL.
We have not even begun to find what is left.
AMerica could be energy independent easily, if the Government and the Green Nazis would GTFOOTW.
From the article: "We are now looking at the possibility of 700,000 barrels a day and we see that coming in the next four to seven years," Which is in the future, not now.
This is nothing to sneer at, but is nowhere near 18.7 million barrels/day that the U.S. currently operates on, heck a 5 billion barrel reserve is equal to... ~2 years of U.S.'s peak production back in the 1970s. Hubbert still reigns supreme. Of course the U.S. could be energy independent, but it would likely require Fischer-Tropes backed up with GEN IV nuke reactors and a whole lot of efficiency measures in the short term, considering the net energy of F-T isn't all that good.
Gotta' love the oil scam.
From $11 a barrel in 1999, to $147 in 2007, to $35 in 2009, and with those professing supply/demand fundamentals declaring it's all about equilibrium, and we should expect to see $200 soon.
Rumor has it that some sly dog unloaded a huge chunk of silver after planting a pathetic story about Carlos Slim.
CURNC GO