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Eric Sprott Discusses Silver's Prospects And Last Week's Raid With Max Keiser
Eric Sprott, who according to some catalyzed the initial move lower in silver following his sale of PSLV units, to be followed by a bullish clarification that he transferred all proceeds into other silver holdings, was on Max Keiser late last week in an interview that anyone interested in the silver market should listen to. Among the key summary highlights: "I will be a buyer of silver today. I will be a buyer of silver tomorrow. We have not lost any faith in what has happened to silver." As for what happened with that instantaneous $6 dollar drop in silver on May 1: "In my mind it was just one of those raids that we experience from time to time. There was no particular reason for it. And then we end up with 5 margin rate increases. It just reeks of someone manipulating the price of silver down. I have no fear of silver here. Yes it will be parabolic, but it's going to be way more parabolic than what we have today... I believe that gold today is the de facto reserve currency. It's outperformed everything for 11 years. Silver has always been a currency, people are now treating it as a currency, and it's a very, very small market. There is no way that with roughly $50 billion of silver inventory around that we can make it a currency, so I see the price going much higher." And on the ridiculous recent trading volume in silver: "One of the things we should look at is the trading of silver in the paper markets, I mean the Comex and the SLV. Last week it averaged 1.2 billion ounces per day. There is only 700 million ounces mined in a year. There is only 33 million ounces of physical silver that is available for delivery by the commercial shorters. If something like 3% of the people that were trading silver in one day demanded physical delivery, there would be no silver on the Comex.... The key market is the physical market. I don't think this raid is going to work." Much more on Sprott's views of the silver raid and the silver market in general in the full interview.
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Why weren't you and all the other geniuses there to buy it?
i buy all the dripps bitch so fuck your ugly mother in the ass like an imf banker!
i buy all the dripps bitch so fuck your ugly mother in the ass like an imf banker!
Curiously, for all deep source historians out there, May 1 was the Illuminati's birthday as well as the Beltaine Festival which coincidentally was also the date of the OBL death announcement.
http://www.bibliotecapleyades.net/cienciareal/cienciareal20.htm
Beltaine Festival, also called Walpurgis Night. This is the highest day on the Druidic Witch's Calendar. May 1 is the Illuminati's second most sacred holiday. Human sacrifice is required.
Rather than a demonstration of strength, perhaps the flash crash in silver was a tell of weakness.
Maybe such a potentially obvious hand on such a weaponized commodity is an indication that silver is a true threat to TPTB. Why else pick such a target on such a day?
Believing the hype that silver is weakening in true physical value because of false price manipulation is falling victim to the oldest psyops in the game: bluffing...and so a volatile and gamed market believes the false narrative once given a manipulative nudge.
Detecting false strength is detecting true weakness.
The Illuminati don't just hate silver because it is the money of the people. They hate it for occult reasons, mainly its healing ability, its protection against the Evil Eye, and its ability to kill vampires (in certain traditions). Makes sense that the takedown would be on May 1. The Illuminati communicate with their god, Lucifer, by using occult symbolism in public. Has to be in public so that it goes out into the collective consciousness. Also, according to certain traditions, the Devil cannot enter your house unless you invite him in. Their public symbolism is like fine print which lets him in, to parasitise us. We have given Lucifer everything he has, usually willingly.
BTW- Waco, the OKC bombing, Columbine, and Deepwater Horizon all happened on the Feast of Moloch, which involves children sacrificed by fire.
I knew there was a reason I carried a silver maple for good luck ;)
Yep. Unfortunately, silver is a sect, so your rational arguments will fall on deaf ears.
Are you including Tyler there?
Tyler is a trader, REPEAT for the challenged, TRADER.
I'd bet heavily he sold early / mid 40s.
And he is REAL treader.
As opposed to RoboTard and Leo, who are simply traitors.
As opposed to RoboTard and Leo, who are simply traitors.
As opposed to RoboTard and Leo, who are simply traitors.
A comment so nice, it was worth posting thrice!
(Actually, it was due to just another annoying ZH site glitch.)
yep just checked spot price for the first time all day. Came in to see who was posting what. Usual suspects saying the usual thing.
With 32 million ounces at comex, Blythe has already shot 2/3's of her load. Come on Masters, keep putting it on sale. Please keep dropping that spot price. It only encourages people to buy and hold. In India and Asia, they are going name a holiday after you.
Blytavali. They are going to celebrate it every May 2nd. It will be considered auspicious to load up on Silver on that day. Just like dhanteras.
Blythe is a squirter? There's an image you don't want in your head.
Bearish sentiment is getting extreme.
I even think that Ryan Puplava is shorting energy and metals for clients.
Each of these guys is attempting to "make their year" on scoring big on a 2008-style crash.
I bet a 30% rally is due any day now in SLV. This short trade seems way to easy. Same goes for the "Ratio Traders" that Dan Norcini talks about.
http://trololololololololololo.com/
that is truly great, akak. you could be performing a service by posting it in response to the trolls, too; i suspect there's a correlation between troll occurence and price (whoever pointed out recently that they've changed their tune to just "don't buy silver" rather than "don't buy silver or gold" is telling, too), so a chart of the Trololo song against the price could be a useful indicator. the only way i could see that the trolls could then bugger that up would be if they start posting the song themselves, which would be equally entertaining in a kind of self-referential, sycophantic way.
Uranian, yes, it is most curious, and amusing, to see how the trolls, particularly the most rabid ones, have not only switched from attacking gold to attacking silver en masse, but how they seem to flock together and manage to engage in a coordinated troll ballet like a school of silver-hating anchovies.
Yes, where are all the former anti-gold trolls? Not a peep. Yet now, with silver being in the limelight as the center and focus of the manipulation by the Powers That Be, it is now suddenly and squarely in their sights, whereas a year ago there was not a single snigger voiced against it, gold being the sole focus of their ire. Yes, curious indeed.
Anyone who does not believe that there are, and have been, coordinated online propaganda and disinformation attacks against the precious metals and their advocates and holders, and defending the status-quo power elite in all things, is either very new here or very naive.
Holy S**t, Silver is is extremely oversold more than 2008. maybe silver can rally,but it will defintely do down after a mini rally.
I had a chance to sell ALOT of Physical at the highs. I have 15,000 Oz of Silver
and 500 oz of Gold. I had Kitco all ready to buy it all. I'm holding. I'm patient.
This is far from being played out, the outcome of Silver and Gold are very much
alive and bullish in the coming years.
so there's still the traditional PM investor around.
basically what you are saying is that you don't think that our fiat system is dead and that when the time has come, you'll change your 15,000 oz of silver and 500 oz of gold back to fiat currency?
Well I am Canadian. So I would definately not change it into US dollars.
The only thing I have in US dollars is some beach front condo in FL that
keeps dropping in price and maintance fees I have to pay.
you meant to say your maintnance fees are going up not the value, i think.
No he meant the maintenance fees are the only thing he needs to convert C dollars for.
Currency collapses throughout history fall back to a hard currency. In modern times this has been the US dollar (Weimar, Zimbabwe). In ancient times this was gold and silver (and sometimes something bizarre like iron ingots).
Gold and silver operate as currency for a long time, until people forget about the dangers of paper. Then paper currency is reintroduced, generally backed by gold or silver. The cycle starts over again. Money is so convenient as a medium of exchange it arises naturally. People get tired of hauling around their little purses of coins.
There will be a time to exchange gold and silver for something else, but we are far from that point. At some point one could argue there will be a "gold and silver bubble," but this is only after most people is trading gold and silver. If you did a poll, I'd bet you'd find less than 1/100% of people out there own any amount of gold and silver beyond jewelry. Marc Faber, author of the "Gloom, Boom and Doom Report," always polls his audiences of mostly financiers and hedgies, and says that fewer than 1% have any amount of physical gold or silver.
So the notion that there is a bubble is preposterous.
Having said that, there are (relatively) good and bad times to buy silver and gold. Silver especially due to the volatility (and one could argue, additional volatility is manufactured).
So when the guy selling flowers tells you he just sold one of his businesses to buy his first 1 oz krugerand, that will be the time to get out and to plow all of this wealth into real estate and stocks. Of course, that will be at the depths of the Great Depression II.
If you are willing to exchange real metal for shitty paper; maybe you should "just do it" and begone.
This is far from being played out
Yep. If you won 15,000 oz of silver then you're down roughly 240,000 in fiat paper that actually still buys something today.
That is exactly what the despots what you to "feel." But the game will be played out once 15,000 OZ of silver is only measurable is things and stuff and you will never have to sweat fiat volitity again with your real money.
Ever considering buying platinum?
Subtle. Nice. ;-)
There is only 33 million ounces of physical silver that is available for delivery by the commercial shorters. If something like 3% of the people that were trading silver in one day demanded physical delivery, there would be no silver on the Comex....
SPROTT IS LYING SACK OF SHIT.
Sprott neglects to mention that there are ~340mm ounces at SLV which can be used to satisify deliveries at COMEX
The lying sack of shit was also selling PSLV the week before the crash... HE IS THE MANIPULATOR.
The trifecta is complete. The entire sock puppet brigade is here now.
__
You called?!
__
Because let me say up front that I disassociate myself from this crowd.
The heretical apostates, the blasphemers of the precious, they will have their comeuppance in due time.
The Monday morning quarterbak, second guessing, rear view 20/20 hindsight told you so crowd is weak indeed.
I say ,buy, buy , BUY:
Contract Information
Description/Name COMEX MINY SILVER
Symbol QI
Exchange NYMEX
Contract Type Futures
Country/Region United States
Closing Price 34.653
Currency U.S. Dollar (USD)
Contract Identifiers
Conid 80557922
Futures Features
Futures Type Metals
First Notice Date
First Position Date 29/08/2012
Last Trading Date 29/08/2012
Expiration Date 29/08/2012
Multiplier 2500
Margin Requirements
Intraday Initial Margin 16,147
Intraday Maintenance Margin 9,280
Overnight Initial Margin 16,147
Overnight Maintenance Margin 9,280
New York Mercantile Exchange (NYMEX)
Local Name QIU2
Local Class QI
Settlement Method Cash
DJ Comex Futures Open Interest - May 16
Sprott is a trader. He was smart to be selling the week before the
recent correction. I'm sure he is also buying now as we speak. Why is that
bad?
Sprott is more than a trader; he is selling something. Wake up.
+1 and like sheep they will be shorn.
ITG and Zing. People might believe you are two different people, if:
1. Zing => say something more than "+1" all the fucking time, it's retarded.
2. Zing => wait more than 2 minutes to respond.
3. Zing => Put slightly more thought into your handle next time.
Seriously, the Rothschild puppet masters expect better out of you guys. If you want those checks to keep coming, we need better quality entertainment.
Niiiiiiiiiiice smackDown !
Yes. He talks his book. Same story for the last 12 years.
And horrors of horrors, he also puts his money where his mouth is.
How many here can say the same (present company excepted i am sure)?
Correction - he put his money there BEFORE he put his mouth there. Talking books is about getting a trade on, moving the market, and creating a profitable outcome/exit. Listen to everyone but realize that no one is out there looking to do you a favor. They are talking so that your actions help them and you will never know their ultimate strategy until they are out and clear. It may work out for you or it may not, they only care about themselves.
Actually, he's buying something. Silver.
You will never live long enough to reach up to the level of "a lying sack of shit"
Die.
Once again, you are talking about yourself here. You claim that silver bars are flooding out of SLV, yet there are only a few to be had. Certainly not a FLOOD.
You are a true bastard, trying to defame a good man who has been 100% right for every moment he has been investing in silver. You LIE and say that he sold the top, as if he kept cash. Bull-fucking-shit. He sold PSLV, with its unreasonably high premium, and bought miners, physical silver, and opened a new silver mutual fund. He did NOT hold cash during the crash.
You are a lying sack of shit, and a fucking traitor to humanity.
I guess we'll find the answer to that out soon as once the 6,000 contracts worth of silver clear out, something either will or won't happen.
This hardly matters.
What matters more is the COMEX only has one more bullet left in its margin gun. The last hike went parabolic, up to 11%. The next hike will go to 50%, at which point we'll need to figure out a new way to price silver, other than watch the irrelevant kitco charts. With 2-to-1 leverage who the fuck will care to play silver on the COMEX (it might be a convenient way to hoover the rest of it up by standing for delivery though).
The 5-hike-panic shows a huge amount of desperation on someone's part, likely Ben Bernanke's. Silver basically dropped its pants and gave him "the moon" while he blathered on about the economy in the (un)historic first Fed speech. Silver shot up $3.50 in a couple of hours. Such a slap in the face couldn't go unpunished.
Silver typically corrects about this time of the year anyway. They should have just let it go parabolic and crash rather than dogpile on it and gloat. That way they'd still have one more bullet in the gun. However, the panic of seeing it approach the nominal high was palpable.
I'm thankful the COMEX has given us one more opportunity (along with the Chinese) to load up on silver at a discount price. It's one of the few things the US government actually does for it's people - speaking a little loosely as the CME Board cum JP Morgan cum Fed are all part of the same clubby system which we affectionately refer to as our government.
COMEX has one bullet left.
USD is enjoying some much deserved (relative) strength to the other fiat trash that's out there. But it's about to roll over...look out below.
The thing about silver bugs...it's not so much the silver, it's the fact that paper currency has no choice but to go to zero. Better to own 500 oz of fucking paper clips than USD, EUR, JPY, take your pick.
Oh even the Swissie is a goner. Who do you think owns all the Greek debt?
Um, if that is true, do ALL the owners of SLV shares realize that?
Just who is the lying sack of shit here?
Did i mention already, that this site needs an ignore feature?
Can't take the heat of opposing opinions?
No, just efficiency..... scrolling over the posts of you, RT, methman, al gorerhythm, hamy wanger, dangertime, FoieGras, fiddler on the roof, ivars.... and all the other sockpuppets (do i really need to repost an updated list?)... simply is a waste of time, and distracts from the useful discussion (or even makes it hard to start one).
In fact, you trolls are precisely those, who do make discussion of non-consensus arguments difficult, because you are provoking a polar atmosphere with everyone being in defense-mode. You pieces of shit are hurting an open and intelligent atmosphere, not helping it.
Oh so if I don't echo the silver religion theme I am a "sock puppet troll"? Best of luck to you with your religion bro. Excuse me while I go and get some more gold.
http://trololololololololololo.com/
FOFOA, is that you?
Silver For The People
http://www.youtube.com/user/BrotherJohnF?feature=mhee
If you look behind you, you will see your Rothschild Master's hand up your ass working your mouth like there is no tomorrow. *That* is why you are a sock puppet troll.
As far as your blaspheming of the precious, that is secondary.
As I said before: more entertainment or no checky-check. Now start pedaling faster.
Oh so if I don't echo the silver religion theme I am a "sock puppet troll"? Best of luck to you with your religion bro. Excuse me while I go and get some more gold.
So, this is how desperate JP Morgue now is? Telling the metalheadz to buy gold instead of silver?..... nice to know.
Zing, do you have an opinion?
How about a personality?
Those aren't your memories. They're implants. Tyrell's niece.
Fucking skin job. You're a R-E-P-L-I-C-A-N-T.
Best retire this skin job and harvest another personality.
Haha, I got one in my visual cortex. Also my hearing is affected. :-D
If that's not a raid, I'm the pope. (and I'm not)
knuckle-dusters.
Looks like some railroad or airline bought 80,000 shares of UGA at the bell from some hedge fund which is getting "Amaranthed". Big buyers starting to step up in some of these commodity ETF's?
methman & zing covering their shorts.
Sell Silver and buy Gold. Silver bugs will be shot and TD is leading them astray.
Agree except that TD is a gold bug, so party on TD.
why would someone only have silver? why would someone only have gold?
that just doesnt make sense.
Because they don't like the higher volatility of silver? Or maybe they don't like that it has just come off a parablic move?
ahhhh,
hmmmm....
maybe because we can afford gold?
Yeah, that sounds about right.
And there is the problem. Parabolic moves always end in tears. No exceptions. We are also told that silver is not a currency but price will go up, as we should expect a parabolic move (that will likely end in another collapse). Acknowledges that gold is the de facto reserve currency right now. I don't see how this is a positive story for Silver here.
Bingo.
http://trololololololololololo.com/
That is FUNNY
Again, Math Man/Zing, to make it look like you are two _different people_ and not the same person high fiving himself, you need to wait more than _2 minutes_ between posts.
It is highly unlikely that you refreshed the static web page at exactly that moment, to come bounding out of the Internets and land a high-five on the replicant Zing.
Please wait at least 30 minutes between posts.
Sincerely,
Your Rothschild Masters.
Why do you silver bear retards repeatedly fail to notice that silver is still up quite a bit the past year despite the recent drops?
Oh that's right - you're retards or just working for JPM.
Oh yeh, because past performance is a great indicator of future potential. Lol @ the blind religious faith.
And your paper faith is not considered to be of a religious fervor? Your homage and blind faith in the acceptance of a paper currency belonging to a bankrupt nation also leaves much to be desired. Your advocation that a paper currency backed by nothing but faith and trust in the government of the land is a greater stretch than those who support monies that cannot be manipulated in hard species form by the government and used to impoverish its people. And yes history is a guide, and this has played out many many times before.
It ends in tears when you analyze a vehicle that is rising in price for the reasons that you and the rest your shill friends might pretend to trade something like AAPL, yes.
However, in the case of AU and AG, people are retreating to them because we have a systemic, worldwide sovereign debt problem, particularly in the US. Additionally, the USD has been debased and continues to be debased in a two pronged attack to put the US economy on its knees. (Sidebar: ever wonder why the actions of the Fed, and present administration are the exact opposite of their rhetoric? Now you have a couple of explanations as to why.)
Just think of PMs as a currency that cannot be debased like fiat currency. Au and AG are a "last stop" investment and therefore not subject to conventional analysis. People with a clue understand that all of your paper investments will mean nothing when the very USDs that you would cash-out into are nearly worthless to you due to rife commodity inflation, and Dollar dilution. The global banking and economic crisis will most likely culminate in the proposal for a new global currency that will be touted by all as the panacea for all the world's woes. During the 10 year lead up to that time, the price of PMs will move so far into the stratosphere. You will have long since snorted the last of the money that you handlers have paid you for this comment, and the halcyon days of QE-stimulated markets will fade into the dark alleys of stagflation, sky-high food and gas prices, war, and political opression. Ah, the joys of central planned governments...
Gold and Silver ARE money. Think about it for awhile... but then, we all know that you and your ilk are not here to honestly inform or learn, don't we?
Such honest, intelligent, rational, and historically cognizant posts such as this one by Hugh Jorgan (and by Toxicosis above it) are almost NEVER attacked by the shallow and desperate anti-PM trolls --- because they know that they cannot possibly do so without being shown to be the liars and idiots that they are.
Just think of PMs as a currency that cannot be debased like fiat currency.
ummmm...the last 3 weeks? Did it escape your attention?
Yes, I'm all on board the Jim Rogers train, except for the esacpe America part- but don't you think some BALANCE is warranted here?
Come on you guys, just because someone says something cautionary about pm's at this short term moment in time doesn't make them a pm troll...or does it?
Absolutely not.
In fact, quite a few posters here have done exactly that, and WITHOUT being ridiculed or attacked as trolls. And why? Because they are obviously intelligent, use rational and honest arguments, acknowledge the long-term prognosis for the economy and the dollar, and in sum display sincere intent and an open mind.
The anti-silver trolls, on the other hand, express or do none of these things. Their arguments are specious, stale, repetitious and shallow, and designed to incite fear, hysteria and doubt in even the long-term holding of precious metals. All it takes is examining the sum of their posts over a relatively short period to see their mission and their agenda, which is always to scare newbies away from the precious metals ("but just at this time" --- but it is ALWAYS "at this time", a la Jon Nadler), and to encourage holders to part with their physical metals, often with disparaging comments towards holders of physical metals ("Survivalist Gun Nuts", "Armageddonists", etc.), and typically with defenses of the wildly corrupt and collapsing paper metals market.
Yup. I have never seen a wider variety of psychological warfare tactics applied on any group of people as they have tried to apply to us.
It's like they are working their way through the textbook, trying to find some combination that works. Problem is, I've got the same textbook. The only thing that will silence me is a bullet, and woe to the man that takes such a path. Woe indeed.
Spot on tmosley. It reminds me of something I read about the "UFO community." What happened, was the CIA (and others) realized that the people who made up the UFO community, was a perfect kind of laboratory for their psyop ideas.
The UFO bulletin boards and conferences, were a place where ideas could be injected into the community, and then it was easy to monitor how the ideas evolved.
Kind of a psyops petri dish of sorts. For a couple of paychecks (there's probably a maximum of two bona-fide PM trolls on this board) a propaganda campaign can be flighted and tracked for success (using standard social media analysis tools).
It occurs to me that zero hedge has this sort of same use for the anti-PM establishment. It's a way to disseminate FUD and propaganda, as well as a convenient way to track the evolution and/or success of that propaganda (apologies to Tyler about the ZH = UFO community, but hey, if the shoe fits, one must wear it).
The thing to note is that the game can be played in reverse. We can gain useful information from the trolls in an indirect manner.
@Creed and the Debasers:
1963 90% silver quarters (0.18084 oz pure Ag in every one) melts down to 6.09 US bitz and bytes, at 33.68 of the same/oz Ag.
2010 standard silverless fiat ruined quarter will get you exactly two bitz of worthless brand name junk made in China. That's 1/24 of the purchasing power. A gallon of gas in '63 was around 30 cents (and right now its 'price' is low: at some point, short 'abrupt acute abiotic hydrocarbon genesis regurgitation', that avenue of cheap energy is going to dead end, no matter how far forward the derivatives have already sold what is left.)
Hunh. How do you define 'debasement' anyway?
Bag of chips and a pop in 1979: 50 fiat cents
Bag of chips and a pop in 1990: one fiat dollar
Bag of chips and a pop in 2000: two fiat dollars
Bag of chips and a pop in 2010: double that again, with shrinkage.
Average wage 1979 to 2011: flat, if you were fortunate, but the amplification of ever concentrating wealth disparity made that less and less likely every year, year after year.
Basic Calculus: "Graph the function y(t)=Au/Fiat as Fiat goes to zero"
It's a parabola bitchez. Going to infinity.
The tears will be wept by the sock puppet brigade over the fiatz.
Stocks behaved nicely today, going really nowhere, but at least not up, silver is down to 33,69. Would it be not moving now to the lowest part of the correction? In my original counting, lowest point (<=30) comes in current silver correction either in May 19-20 ( log time period shrinking) or May 25-26 ( golden ration time frequency acceleration). This minimum will coincide approx with oil minimum at Brent 100-105.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=300#p32372
Still possible to test..
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
Of course what happened on the GLOBEX on 1 May 2011 at 23.00 hrs GMT+1 was a raid, just as is happening now (on the GLOBEX - albeit on a much smaller scale). 1 May was to scare people out of their positions (didn't work too well judging by record OI since and silver sellers on COMEX inability to fulfil physical orders without scraping every conceivable silver barrel around, including perhaps what pitiful amounts of physical that have been 'entrusted' to SLV). Today, you see 'fear and loathing' on the part of the shorts who are scared shitless about the new silver contracts due to start trading on the Shanghai commodities exchange in >48 hrs time. The shorts methods are so transparent now, I wonder anyone bothers to comment on them.
They are digging their own grave here. RIP, I say!
Stocks behaved nicely today, going really nowhere, but at least not up, silver is down to 33,69. Would it be not moving now to the lowest part of the correction? In my original counting, lowest point (<=30) comes in current silver correction either in May 19-20 ( log time period shrinking) or May 25-26 ( golden ration time frequency acceleration). This minimum will coincide approx with oil minimum at Brent 100-105.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=300#p32372
Still possible to test..
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
Did you Americans know that your Henry Kissinger, your George Soros, your Angelina Jolie, your Fareed Zakaria and your Erin Burnett are on the Council on Foreign Relations, that globalist, American hegemonial "think tank" funded by the Rockefeller family's Rockefeller Brothers Fund (RBF), who, by the way, are of German origin ?
http://www.cfr.org/about/
The British equivalent to this elitist bunch is "The Royal Institute of International Affairs" aka "Chatham House".
http://en.wikipedia.org/wiki/Royal_Institute_of_International_Affairs
Rockefeller Brothers Fund
http://www.rbf.org/
Yes and plenty more, but Angelina Jolie gets a pass.
i don't mind giving her a pass on stein frankenfurter'z globalist, American hegemonial... thingy. then, again what the hell do i care?
i figure it's tyler's call; he's the brad pitt, here, after all...
Did you Americans know that your Henry Kissinger, your George Soros, your Angelina Jolie, your Fareed Zakaria and your Erin Burnett are on the Council on Foreign Relations, that globalist, American hegemonial "think tank" funded by the Rockefeller family's Rockefeller Brothers Fund (RBF), who, by the way, are of German origin ?
http://www.cfr.org/about/
The British equivalent to this elitist bunch is "The Royal Institute of International Affairs" aka "Chatham House".
http://en.wikipedia.org/wiki/Royal_Institute_of_International_Affairs
Rockefeller Brothers Fund
http://www.rbf.org/
By the way, for a list of the German Elites, please peruse the Bilderberger Group.
At the time of this post, gold is down 0.37%. Silver is down 5.13%. IMO money cannot be this prone to volatility in value.
At the time of this post, silver is still way up in the past year and most folks on this board didn't buy silver when you silverbear retards kept calling for a top at 30, 32, 34, 36, 38, 40, 42, 44, 46, 48...
Actually I have been calling no tops on Silver. Please link to any such comment.
how many names do you post under? this week?
zing, The Axe, wirtschaftswunder, mogul rider, long juan silver, William the Bastard
(some of those are old.... i.e. i suspect long juan silver has been banned because he used that account for cyberstalking)
William the Bastard came back as Long Juan Silver, and when that handle was banned then came back as WorthlessShaftUnder.
Don't forget about MethMan, Texas Gunslinger, or Dangertime either.
Zing, this handle is dead, please stop using it.
You're a REPLICANT.
Theory: the lower the price of spot silver, the more demand there should be for physical.
If that's true, and if silver was in short supply at $48...it seems like there would be even less physical available to retailers at $34.
I BTFD and paid a heavy price. Now I'm holding my bag and watching silver trade at one in the morning. BTFD, my ass :)
You would be up at those hours of the night bighting your nails only if you bought on margin. If you had the physical under your bed (so to speak), you would be dreaming sweet dreams.
PS. There IS less physical available to dealers (nicht verf. = not available):
http://www.proaurum.de/edelmetallshop/silber/muenzen_anlage.jsp?action=s...
That is in Germany, but I bet a nice and shiny AG Philharmonic that it is the same situation all over the world.
Money has no value, it is merely a form of exchange. If you understood this and concepts like time preference you would be closer to an understanding of the term value. As for volatility, study the German Mark in the year 1923.
Money is more than a medium of exchange. Learn the basics before you come back to talk. You won't look like such an idiot.
Clarify. You gave no information, just an opinion. If you knew the basics, you could explain them.
Let me save you the study time: if I have an item of value ( an egg for example) you buy it from me with let's say 1 dollar. I am not exchanging one item of value for another, I am exchanging one item of value for an accepted medium so I can buy another item of value.
Did I make that simple enough for you?
nope. money = medium of exchange AND store of value AND valuation referent AND
Where is the value in a one hundred trillion zimbabwe note? Stored or otherwise?
In 1913 terms, a dollar is worth 4 cents. Store of value? Right.
Zing. You are dangerously close to losing your Rothschild Retainer Money. Fucking real close.
Start being more interesting or funny or fuck off.
If you say something like "Money is more than a medium of exchange," then fucking qualify it with one other fact, such as "In Zimbabwe, Zim Dollars were used as toilet paper, which forced proprieters to put up signs such as 'only toilet paper in the toilet, no zimdollars'".
If you do not start acting like a human, people will find out you are a REPLICANT and retire your ass. Then you, and the entire Retard Clown Sock Puppet Brigade will lose their retainer money. You will have to emerge from your mother's basement and go back to working at Wal Mart.
Pedal Faster, Pedal Harder, Fucking REPLICANT.
http://ualuealuealeuale.ytmnd.com/
You dick-brain, you forgot to mention that real money (gold and silver) are a store of value i.e. real wealth. Was that because you're an ignorant prat or a deliberate piece of disinformation? Do you honestly believe that ZHers wouldn't be that knowledgeable? I think you need to go back to your Langley 'troll school'.
Since the reference was to currency, that was the definition of money. Gold functions as a store of value, as its' weight and greater value make it easy to transport and protect. Silver functions well as a form of money, but is to heavy and cumbersome to be a store of wealth ( unless your idea of wealth can be held in all silver). However, as gold and silver are not presently used as currency in any major economy, you would appear to be the ignorant prat.
Most people who post honestly on this site are capable of intelligent thought and the assimilation of concepts. They can even draw conclusions from a simple set of conditions. It must be difficult to have a brain smaller than a dick.
Would silver work better as a store of Wealth if it weren't so bulky and priced at 1,500 an ounce...something to think about before you posit such nonsense.
Zing
At the time of this post, gold is down 0.37%. Silver is down 5.13%. IMO money cannot be this prone to volatility in value.
You think thats bad you should look at the U.S. dollar.
Really - what's the volatility of the Euro or Dollar been this week chief?
http://ualuealuealeuale.ytmnd.com/
New APMEX Fractional Silver Rounds
1/10 oz APMEX Mercury Dime Silver Round .999 Fine
1-19 volume pricing $6.72 $6.92
APMEX buy price $3.43
Getting raped like a hotel maid of an IMF agent priceless!
Yeah, you get raped when you buy less than 2oz worth.
Nice hatchet job there. Didn't mention the fact that the premium drops by two bucks per round at 1000 or more.
These will be nice to have for "change". 1000 of them might be worthwhile to have around, just like a big bag of 90% quarters and dimes might be worth it as well.
APMEX preparing for the time when AG price will be +/- the same as AU?
Let us put things in perspective......for those that think silver is over priced. To pay this years estimated deficit of $1.5 trillion you would need to fork over about 42 billion ounces of silver at the current spot price. Nuff said.
This post is as stupid as it is meaningless.
Yes, it is. As are all of your posts, actually.
Zing!
LOL
Sorry, Zing, I guess the meaning was so subtle that it went right over your head.
Zing the merciless. Another brain dead creation of the sock puppet brigade.
Deckard! Retire me!
http://ualuealuealeuale.ytmnd.com/
freaking awesome.
Next time you might consider writing "THAT post"... jus sayin'...
PS. They say that insight is the first step to self-improvement, so keep trying, this awareness of the quality of your own post is encouraging
I'm sticking with Rogers viewpoint, that silvers rise depends on the dollar collapse. Since I believe the Bernank is a NWO globalist, one world bank, one world currency. He is absolutely working to destroy the dollar to serve his bank cartel puppetmasters. Perhaps it's a coincidence that IMF DSK just so happens to be another NWO nutjob. There are big players, playing big games that will end with "my paper is better than your paper". poof
It's now mathematically impossible to pay off the debt the USA holds. Higher taxes and benefit cuts will not fix it, nothing can fix it. Default is the only way out for the USA and it will happen. At lease 14 States will secede from the 50 state union and declare independence from both the failed central government and it's debt. The crash will be like that of the Soviet Union.
Honestly I think this is a best case result in a total collapse scenario.
However the federal government has been fully mobilizing state and local law enforcement in accordance with the martial law provisions passed along with and since the Patriot Act. The ridiculous 4th Amendment violation in Indiana, the absurd riot squad at a college block party, the FEMA camps and training exercises. I worry about the prospects of my personal freedom in this type of environment, let alone organized state secession, especially when we will additionally be dealing with private contract defense units in some cases.
This is why exchanging fiat for silver is such a powerful idea. It's a non-violent economic revolution outside the corrupt system. I have to believe nothing will stop the banksters in their attempt to stop it. Not succeeding with a NWO is one thing; losing and letting the little guy get rich with Silver along the way? Yeah right. They view us with disdain, it's the same aristocratic British ideal of class and society.
Unfortunately for them, people buying and holding physical have too much common sense to believe that a futures paper market, clearly manipulated, is any indication of the true value of gold and silver - especially after we witnessed poisonous mortgages and derivatives given AAA ratings to purposefully destroy the economy. Then they stole our nation's wealth and they got the government to go along with it. Nothing anyone in the system says has any credibility. Fuck them.
UNITY IN COMMON SENSE
RANTING ANDY
As another week of horrific market manipulation concludes, my mind is aflutter with thoughts.
Yes, the Fiat Age is nearing its end, led nose down into hell by the U.S. dollar.
But we know that already.
Yes, gold and silver represent the ONLY successful currencies, and stores of value, in human history.
But we know that already.
Yes, the gold Cartel, which is essentially Washington, Wall Street, and their puppets in London, spend the entirety of their working days (if you call robbery work) manipulating markets in order to maintain a status quo in which they own and rule everything in the Western world.
But we know that already.
And yes, it’s blatantly obvious that these manipulative efforts, particularly suppressing Precious Metals while simultaneously supporting the Dow and U.S. Treasury markets, have taken a quantum leap skyward in recent weeks, starting with the May 1st SUNDAY NIGHT SILVER MASSACRE.
Yes, we already know that, and yes we know they did it because gold, silver, and the Euro were all making new all-time highs just as the end of QE2 is planned to end.
Given all this “common knowledge”, which I say facetiously because 99% of Americans haven’t the slightest clue, what is it about this week’s markets that stands out in my mind? And here’s the answer, yet again:
Occam’s Razor.
The simplest explanation is usually the right one, and in this case it couldn't be more simple. I have no problem with the aforementioned ignorant 99% not getting it, and frankly most of them never will.
But what irks me more than anything, more than Goldman/Morgan, Paulson/Geithner, Greenspan/Bernanke, and Bush/Obama combined, is the inability of the 1% to consistently unite in their quest to depose the evil and instill the just.
Every day for the past nine years, I have watched my net worth, employment prospects, and sanity get besieged by illegal acts by psychopathic criminals bent on my destruction. As have my small band of allies that believe gold and silver are the market’s most attractive investments in the world (the only ones I’ve owned during this time, and likely the only ones I’ll ever own). I haven’t met them all, but feel a strong kinship with these hearty souls, whom as a group have dedicated their lives to not only self-preservation, but helping others to do the same. I believe the fight for real money is my calling in life, and nothing I’ve ever done comes close to the passion I feel for this issue, particularly as we stand at the precipice of the most earth-shattering currency events in the history of mankind.
It’s bad enough to watch GOVERNMENT COMPUTERS naked short Comex futures, GLD, SLV, and Precious Metal miners all day long (just watch SLW or SLV trade for an hour, and you’ll know what I mean), while fabricated economic statistics, lies, and propaganda are spouted on the TV and internet all-day long.
But to watch so many of the so-called “gold bulls”, for years and years on end, continually shoot their followers in the back with double talk, top calling, and, worst of all, FLAWED CHART ANALYSIS, is what puts me over the top.
These people will one day talk about PM manipulation, and the next (usually after an attack occurs, citing “technical damage”) talk about how the “charts have turned bearish”, and if they don’t turn around soon all will be lost, or something of the like.
My favorite such drivel is the type that says “if gold breaks below $1,490, it could fall to $1,460, and if it breaks $1,460 it could fall to $1,420.” Well DUH!
Of course it could fall to $1,460, or $1,420, or ZERO for that matter. But then again, it “could” rise to $1,530, or $1,570, or a ZILLLION.
We have been in a gold bull market for eleven years, and likely will be for the rest of our lives.
The people writing this commentary (many of whom have paid followers) are for the most part highly intelligent believers in the cause. But for some reason, they refuse to fully grasp what is going on, which in essence is the same battle that has repeated itself for centuries.... that is the 24/7 SUPPRESSION OF GOLD AND SILVER!
Every time I read them write that gold fell due to “the rising dollar”, “risk trades being turned off”, “economic worries”, or “the swooning stock market”, I realize that perhaps I will never see the day when our “team” for once works together against the evil that is out to destroy us.
Not only is this information completely wrong, and easily refutable (especially because 99% of gold’s declines occur at the same three times of day), but it creates an immense amount of fear to those looking for guidance in a financial world gone mad.
I really don’t want to name some of the most egregious culprits, for fear of making enemies, but there are some very prominent people that still cannot stop looking at their silly little short-term charts, which are all MEANINGLESS IN A RIGGED MARKET, and consequently fear-mongering.
I do want to single out one such person, whom I have never met, simply because he is so revered as a prophet of some sort. I have a great deal of respect for Martin Armstrong’s writings, as he is obviously a very bright man. However, aside from flowery language and his deep knowledge of history, Mr. Armstrong is not writing anything different than I and many other lesser-knowns have been writing for the past decade.
Surely, someone as knowledgeable about the concept of “money”, and as revered in the PM sector, should be a true champion of the cause, one who can rally the troops in the manner that true leaders such as Sinclair, Sprott, Embry, Turk, Willie, Keiser (Max), Maloney, and Murphy do.
Surely, by now someone of his caliber has figured out that the gold and silver markets are the most manipulated on earth, just as they ALWAYS HAVE BEEN ... thus if the government can buy stocks all day via the PPT (sorry, the President’s Working Group on Capital Markets”), and T-Bonds all day via the Fed, than they certainly can be naked shorting PAPER gold and silver all day via the Gold Cartel (sorry Ted, Goldman Gary Gensler has NOT done a thing to help us out, and NEVER will!).
Just as my idol Richard Russell refuses to acknowledge that his beloved Dow Theory was rendered USELESS a decade ago by market manipulation, Armstrong refuses to acknowledge that his “Long Term Primary Channel” analysis is equally useless for the same reason. In fact, the following paragraph from his latest piece, “So you thought the Sovereign Debt Crisis Was Over?” (the conclusion, by the way) is what inspired this article, and states the following about one of his proprietary gold charts:
“Now that we exceeded the top of this channel, it will be the test to fall back to make it support, which lies at $1,227.90 in 2011 and $1,239.30 in 2012 (mathematically calculated). Technical resistance stands at $2,000.90 in 2011 and $2,037.20 in 2012, with initial support at $1,374.10 in 2011, rising to $1,410.50 in 2012. So those that think I am long-term bearish by merely saying a retest of support is the next stage to prepare for the big rally, need to understand that this is simply a pattern that unfolds in how markets trade.”
When I read drivel like this, particularly from someone so well educated and versed in history, I tremble with anger. The fear-mongering this creates among the poor souls desperate for guidance through the Gold Wars is incredibly counter-productive to the cause, which in essence is a real life saga of good versus evil.
Such double talk only reinforces fears the Cartel creates through its daily attacks on gold, silver, and PM shares, and to see it come from ‘gold army leaders’ such as Armstrong (and many others) only makes it worse.
YES, MARTIN, YOU ARE “LONG-TERM BEARISH” (in terms of the average person’s investment horizon and ability to sustain losses to the Gold Cartel)!
If gold falls to “$1,227.90 in 2011”, that would represent an 18% decline (or 22% from last month’s all-time high of $1,575), which by definition is a BEAR MARKET. Not to mention, if gold falls to “$1,227.90 in 2011”, silver would likely fall further in percentage terms, perhaps to $25 or so to throw out a round number, which for non-mathematicians represents a 50% decline from April’s all-time high of $50. And I won’t even broach the topic of how much the HUI would decline if gold falls to “$1,227.90 in 2011”, which would probably wipe out the remaining PM investors that have survived to this point, particularly through the horrific, GOVERNMENT-ENGINEERED PM MASSACRE OF LATE 2008.
Of course, anything in the markets is possible, and certainly gold and silver could decline further. However, to intimate that gold is likely to dramatically plummet in the current environment is not only ridiculous, but insulting to my intelligence. Unlike in 2008, when the government was able to attack PMs under the guise of “deflation fears”, today’s environment is much different. Back then, the Fed and its pathetic puppets in Europe and Japan at least had some ammo left, such as lowering interest rates to zero and promising that printing trillions of dollars, pounds, yen (and other currencies) could fix what was wrong.
Today all those bullets have been shot, and what we have now is a ZIRP society with massive inflation, rocketing debts and deficits (especially in “King America”), and soaring inflation. And further declines in the Western economies (which, by the way, will occur with 100% certainty) will only expose the situation more, in other words that the dollar (as well as the pound, Euro, and Yen) will continue to decline against ITEMS OF REAL VALUE under essentially all scenarios.
The rush to PHYSICAL GOLD AND SILVER, as well as NECESSARY ITEMS such as AGRICULTURAL PRODUCTS, has begun, and will NEVER END until the fiat currencies are destroyed and replaced with REAL MONEY, in other words the re-establishment of a GOLD (and possibly SILVER) STANDARD in the not-so-distant future.
Years ago, I would have been too modest to challenge leaders in my field, but no longer. I believe my ability to understand what is going on in the world as well as most (but definitely not all) of my peers in the “gold army”, and if no one else is going to call bullshit than I will do it, and do it proudly.
My goal is not to make friends in this fight (although I’d certainly like to), but to help as many people as possible to navigate through these shark-infested waters.
The Precious Metals manipulation this past month escalated from “Phase 1” to “Phase 2”, as my brilliant friend Mike Krieger penned last week, as the Cartel was nearly destroyed by the PHYSICAL SILVER EXPLOSION in late April that led to the aforementioned SUNDAY NIGHT (PAPER) SILVER MASSACRE. The amount of despicable, illegal acts they will perpetrate in the coming months (such as non-stop margin increases, incessant naked shorting of GLD, SLV, and PM shares, propaganda, falsified economic data, double dealing (such as pretending to end QE2 when in fact they’re still doing it), etc., will only increase dramatically in 2011.
I assure you. The end game is nigh, and this is the last stand by the EVIL EMPIRE to try and stamp you out, and thus maintain the status quo. They will win some battles, such as they have with this month’s PM bashing, but listen to what I am about to say, and listen carefully:
No matter what they attempt in the paper markets, they WILL NOT be able to stop the Chinese, Indians, Russians, Arabs, and others from buying every available ounce of gold and silver, and it WILL NOT be at $1,227.90, I assure you! Technical charts are for free markets, which no longer exist in America.
The America we have grown up with is GONE, and with each passing day its ideals will more rapidly distance themselves from the rear-view window. The unholy alliance of Washington and its “massas” from Wall Street know the U.S.S. America is going down, and their only goal is to take as much of what’s left (from YOU) before the final bell rings on the dollar.
PROTECT YOURSELF, AND DO IT NOW. Buy gold, silver, food, and other ITEMS OF REAL VALUE. These items CANNOT, and WILL NOT, depreciate in value against paper currencies in the coming maelstrom. I cannot speak for stocks, even PM stocks (although the odds are they will rise), but I can speak with certainty about the value of REAL, PHYSICAL ITEMS such as the aforementioned.
And for those of you writing commentaries to the public about the gold wars, including free articles such as those by Mr. Armstrong and subscription based works by others...
PLEASE UNIFY IN THE CAUSE OF THE JUST, AND STOP SCARING YOUR READERS, PARTICULARLY WITH MEANINGLESS TECHNICAL ANALYSIS!
www.lemetropolecafe.com
+1490.40
Nicely Put!
DaddyO
http://www.youtube.com/watch?v=4RHF_w4Genk
Fantastic DP...it's like they're counting raindrops oblivious to the approaching hurricane.
Yo sign me up. We no longer use big banks for any but mundane transactions - they are proven thieves and cannot be trusted with valuables.
We dollar cost average all loose change into pm's, only turning it into Fiat to satisfy necessary cash transactions.
Every ounce that we buy and hold removes one more ounce that cannot be used as a basis for naked shorting. Every equity share we own is up for sale at an elevated price - so that it cannot be used for naked shorting.
My ancestors fought, bled and died so that we would have the freedom to pursue better lives for ourselves and our children. The Fiat Kings don't care about their own children, let alone ours. There are way more of us than of them, and we still own the vote and the ability to remove commodities from the so-called marketplace.
Soros Fund Cut SPDR Gold Trust Holding by 99% Last Quarter 17:01
[GLD US 145.37, -0.26]
Jana Partners was earlier disclosed to have sold out of 77% of its GLD position in the 1Q.
Eton Park cut its GLD position by 48%
i added every down day... and i will add every down day until the debt ceiling bullshit is resolved!
if i buy on a day and it closes in the green, it was an accident! i promise!
Don't forget that he's part of the establishment and he was probably drafted into this raid. Reminds me of 2008 when they paraded Buffett as a latest savior of hope. The thinking at that time was that if Buffett is buying a stake in GS then it must be okay to wade back into the waters. Goes without saying that these guys are rewarded handsomely for their co-operation and their sound-bites.
And after all that gold is still near $1500. I would think some would say that is bullish but knowing the trolls here, like the trolls over the past decade, they find something better in paper instead.
My question to you is. Do you look both ways before crossing the street because cartoons tell you to?
If China's government buys silver then so will every other government, fund and cartoon.
There's your 1billion ounces a year in silver demand for the next 20years.
No one cares if you buy a silver coin or not.
Having Eric Sprott talk is like running a CIA Honey Pot Operation for Rothschild Sock Puppets.
Seriously.
Eric is a smart guy, but everyone here knows his opinion. Max Keiser is always good entertainment.
The second the article hits, the sock puppets are out like flies on shit.
The multiple personality aspect of some of these posters is hilarious.
Meth Man == The Peter Sellers of ZH.
"Birdy want some num nums?"
If you think meth has multiple personality disorder, then how about zing aka The Axe aka wirtschaftswunder aka mogul rider aka long juan silver aka William the Bastard?
F2Z I doubt there are many but myself that know what movie that is from.
When I saw that movie I wanted to get a nehru jacket.
How about ChauncyG? I'd bet he knows the line "Birdy want some num nums"...
200 DMA and several fibonacci retracement levels in silver will come in play between 29-30. that level will most probably act as a cycle low which will coincide with a Dollar Index at 77 and EURUSD at 1.38ish.. then we would see the final leg of risk-on game until June 15-20 with DXY hitting 73s again, EURUSD upto 1.48 and silver upto 40.. ES would play a 1300-1400 rally as to fulfill the top formation (as in 2007) of the 2009-2011 cyclical bull market..
this is what the charts seem to indicate as the support level. for silver. between here and 29-30. so, a test of those levels would not surprise.
i don't care about the other indicators and the timing. but i disagree that when it goes back up, it will be a double top.
it might be. who knows?
but, the moving averages will have come back down to earth, and if 29-30 holds, a re-test of 39-40 will have a lot of upward mo by whenever. but, that is a lot of ifs.
and silver has had a mind of its own. the volume of the "blow-off" was incredible, in paper. but the physical markets do not seem to have dislocated. there was a lot of option and futures trading volume(s), but the physical is maybe catching up this month. crimex deliveries may be higher; they are going in fits and starts.
I love the PM bears. They're the same people that I see willing to drop $100-$200 on a pair of jeans to impress people with how stylish they are but like to point out that silver is in a bubble even when 99% of the population doesn't own any. Meanwhile store shelves are overflowing with clothing that nobody wants and the price will go up even higher with the price of cotton increasing over 100%. Can someone justify $200 for a shirt? How about $80 for a t-shirt?
Fucking brilliant.
"I love the PM bears"
My son, I own gold (have since 1999-2001 which I bought for all the wrong reasons from Monex via USPS)
You have it wrong, we love silver bugs. It's like watching some HBO comedy special for us.