• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

First Gold, Now Europe Running Out Of Silver

Tyler Durden's picture

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Wed, 05/12/2010 - 17:22 | 347516 Common_Cents22
Common_Cents22's picture

I'm gonna have some gold/silver home buying parties and buy a pawn shop!  

Wed, 05/12/2010 - 18:35 | 347694 cossack55
cossack55's picture

Damn fine idea.  Then sell it to History Channel.  be a star.

Wed, 05/12/2010 - 23:01 | 348273 Carl Spackler
Carl Spackler's picture

Oh my gosh. This is pandemonium.

What about the dentists? 

Will the teeth of Americans now resemble those of the British?

And what of Obamacare?  They - obviously - never figured in the increasing cost of gold and silver when calculating the "decreases" in health care costs!

We are so hosed, but I still have my palladium.



Thu, 05/13/2010 - 09:29 | 348837 Tarheel
Tarheel's picture

very nice :-o

Wed, 05/12/2010 - 18:51 | 347734 Gold...Bitches
Gold...Bitches's picture

no doubt - especially if you only have to pay the rates the 'cash for gold' places do.

Wed, 05/12/2010 - 19:26 | 347826 truont
Wed, 05/12/2010 - 21:13 | 348093 Hephasteus
Hephasteus's picture

Ya but it's confusing. Germans say You speaky de dutch. Spraken de deutshe. So you gotta realize that german people speak dutch. I know it's confusing.

Wed, 05/12/2010 - 22:27 | 348230 WaterWings
WaterWings's picture

Ja. Hier ist Herr Jim Villie. Ausgezeichnet!


Wed, 05/12/2010 - 23:28 | 348329 False_Profit
False_Profit's picture

wundebar!  supa!  wir mussen alles gold gehaben jetzt! 

herr villie is eine ubermench...

Thu, 05/13/2010 - 05:09 | 348577 speculator
speculator's picture

Nein, Niederlaandish is nur schlechtes Deutsch!

Thu, 05/13/2010 - 09:47 | 348879 Hughe Crapper
Hughe Crapper's picture

Also Also, Dutch oder Deutsch. Ich bin ein Amsterdammer. Smelten Sie meine käzen und anschau diese goldmachinen.

Only in Abu Dhabi, the first gold dispenser: http://www.rtl.nl/components/financien/rtlz/miMedia/2010/week19/do_1300_goud.avi_plain.xml

Wed, 05/12/2010 - 17:22 | 347517 BlackBeard
BlackBeard's picture

yeowsah.  And it begins.

Wed, 05/12/2010 - 18:44 | 347715 nuinut
nuinut's picture

If you want physical silver, try here...


They still have good stock, well priced.

I have found both the product and service to be top notch.

Wed, 05/12/2010 - 19:21 | 347823 boiow
boiow's picture

or if you live in the uk. you can get them here. http://www.sarniasilver.com/firstmajesticcoins.html

vat free.

Wed, 05/12/2010 - 20:28 | 348000 DosZap
DosZap's picture

What do the Canucks charge for shipping to US?.

Customs charges?.Also?.

Wed, 05/12/2010 - 20:53 | 348064 nuinut
nuinut's picture

Mine was shipped to NZ, so I don't know, but I did think it was pretty cheap.

$20.30/oz is quoted price today.

Wed, 05/12/2010 - 21:13 | 348091 UGrev
UGrev's picture


free shipping.

Wed, 05/12/2010 - 21:14 | 348096 UGrev
UGrev's picture


free shipping.

Thu, 05/13/2010 - 02:17 | 348497 reload
reload's picture

Choice getting limited at Sarnia as well now!!

Wed, 05/12/2010 - 23:32 | 348237 justbuygold
justbuygold's picture

There are several recent reasons for silvers recent runup.

1)  Gold is surging due to recent $1 Trillion Europe Bailout and huge demand for precious metals by Europeans.

2)  Scramble by a hedge fund to cover 10 Million ounce short. 

3) JP Morgan investigation for manuipulation of silver market. They can no longer hold the price by shorting more paper while under investigation.

Smart money knows they are dead in the water as any attempt to cover will cause an exposion in the silver price.

4)  Central Fund $375 MM raise yesterday means they needed almost 10 million ounces of silver.  This has essentially dried up any supply to the  Comex and LBMA.

from Ed Steers....  http://www.caseyresearch.com/displayGsd.php

"The first story today pertains to the wildly successful offering by the Central Fund of Canada yesterday.  It was the biggest offering in the company's history... and they raised US$376 million, which includes the underwriter's rights.  This translates into about 7.8 million ounces of silver and around 151,000 ounces of gold.  I wonder how long it will take them to get all that silver?  It's a bit over four days of world silver production... and as you know, dear reader, this kind of quantity is impossible to find in the open market.  So, without doubt, they will be standing at the refinery door waiting just like everyone else... including SLV.  The headline of the story reads "Central Fund Increases Equity Offering to U.S.$376 Million as Underwriters Exercise Their Rights to Purchase Additional Class A Shares"... and the link to the yahoo.com story is here."


5) SLV is way behind in obtaining physical silver bars to allocate to its ETF holdings.  Estimates on how much they still need varies but I would guess its as much as 50 MM ounces.

6) Essentially the silver coffers are dry amongst record demand.  It will take prices well above $50 oz to draw any silver back out into the market.

Wed, 05/12/2010 - 17:23 | 347518 Segestan
Segestan's picture

Nice...Got Gold???

Wed, 05/12/2010 - 17:25 | 347521 BrianOFlanagan
BrianOFlanagan's picture

a preview of what's to come here when the people wake up.  Get some physical while you still can!

Wed, 05/12/2010 - 17:26 | 347524 Sudden Debt
Sudden Debt's picture

But what if the wearwolves come back... and the vampires...

Dude... are we in a mess or what...

Wed, 05/12/2010 - 20:20 | 347986 bigkahuna
bigkahuna's picture

the zombies...

Wed, 05/12/2010 - 21:20 | 348107 UGrev
UGrev's picture

The kind you have to shoot in the melon.. that's what my .308 is for :)

Wed, 05/12/2010 - 21:52 | 348176 PierreLegrand
PierreLegrand's picture

.308 double tap to their dead heads....

Wed, 05/12/2010 - 22:21 | 348213 hedgeless_horseman
hedgeless_horseman's picture

The movie is wrong. 

.308 no double tap required. 

.380 definitely double tap, or better yet, Mozambique.  2 in the chest, one in the head.

Even better,  screw the .380 and get a Rohrbaugh R9 for less than an oz of Au and it still fits in your jock strap.

Or best, and you know what I am saying darling....

Saiga 12 , bitches!!!!!!!!!!!!!!!!!!!!!!!!

Wed, 05/12/2010 - 22:51 | 348261 merehuman
merehuman's picture

During times like these desperation at times leads to suicide and murder.

Please remember me in your will. Thank you in advance.

Wed, 05/12/2010 - 23:20 | 348314 Howard_Beale
Howard_Beale's picture

You are coming along merehuman...looks like MsCreant got through to you and good to see your sense of humor coming through! Nice post.


Wed, 05/12/2010 - 23:03 | 348279 UGrev
UGrev's picture

.308=nothing left of head after 1 shot. 

Saiga 12 FTW(CQB)

Thu, 05/13/2010 - 11:19 | 349158 downrodeo
downrodeo's picture

Japanese steel...

you don't have to reload a sword


Wed, 05/12/2010 - 17:26 | 347527 jkruffin
jkruffin's picture

I hope all those derivatives JPM has puts their ass out of business forever.

Wed, 05/12/2010 - 19:31 | 347856 SWRichmond
SWRichmond's picture

you and me both

Wed, 05/12/2010 - 17:30 | 347529 Hulk
Hulk's picture

Thats your sign post up ahead,your next stop,  the no PM zone

Wed, 05/12/2010 - 19:57 | 347948 cougar_w
cougar_w's picture

Yeah I saw that episode. You know how it ended? The government required everyone to redeem their PM holdings for Treasuries at a set price within 30 days or face a felony.

I don't see how anyone sees pushing the fiat govvies into a PM-free corner is going to end in anyway other than martial law. Remember, these people are modern-day Visigoths.

Wed, 05/12/2010 - 23:38 | 348349 False_Profit
False_Profit's picture

...yeah, but the visigoths were defeated as well.


Gott mit uns...

Wed, 05/12/2010 - 17:35 | 347531 Crab Cake
Crab Cake's picture

Time to take delivery, if you're in paper.  Run don't walk.

Time to get the final preparations in place, TSHTF very soon.  July is my bet, if we're putting down lots. Smoke'em if you got'em.

PS Better get any cash you might need out of the banks too, if you haven't already. 

Wed, 05/12/2010 - 17:28 | 347532 silvertrain
silvertrain's picture

  Oh but the comex can settle in cash..It says so in the fine print..

Wed, 05/12/2010 - 19:16 | 347803 Rusty_Shackleford
Rusty_Shackleford's picture

I've often wondered how exactly this worked.


It would be like going into a store and saying "Here's $100.00.  I'd like that coat there with a $100.00 price tag on it.  The clerk then takes your $100 looks at it and then hands it back to you and says "OK, we're all settled up then."

How long would this store stay in business?


So I'm trying to buy Silver for cash, but instead of Silver, your just giving me my cash back?



Wed, 05/12/2010 - 19:19 | 347816 Gen X Gen Y Hybrid
Gen X Gen Y Hybrid's picture

Actually, it is like the store owner saying that he really doesn't feel like selling the coat anymore and gives you back $125.

Wed, 05/12/2010 - 19:48 | 347917 Rusty_Shackleford
Rusty_Shackleford's picture

Not much help if you needed the coat because you were cold.

Especially since now, when you look around, the prices of coats in every store are now $130.

Wed, 05/12/2010 - 20:01 | 347952 cougar_w
cougar_w's picture

And to extend your analogy a bit, once you are dead from exposure because you couldn't get the coat when you needed it, the coat merchant rifles your corpse for the $125 he "returned" to you, knowing for a fact you have that much at least on you.

They want to know who wants gold, then they know who to go after when they want all the gold back. It's worse than a bad transaction ... it's a trap.

Wed, 05/12/2010 - 20:14 | 347978 Oracle of Kypseli
Oracle of Kypseli's picture

I don't get it. You can buy 400 oz bars for $497,600 each at this moment by phone and have them delivered by armored truck anywhere in the world. Why do you want to deal with comex?



Wed, 05/12/2010 - 20:37 | 348025 Hulk
Hulk's picture

Cause I'm 25 bucks short!

Wed, 05/12/2010 - 21:32 | 348131 WaterWings
WaterWings's picture

(Ernie laugh) k-k-k-k-k-k-k

Wed, 05/12/2010 - 22:11 | 348201 Hulk
Hulk's picture

If only I had traded in my Ca RE, pre crash, in for 3 of those 400 ozers,

being 25 bucks short wouldn't be an issue! Yah right...

Wed, 05/12/2010 - 22:03 | 348187 Trial of the Pyx
Trial of the Pyx's picture


Wed, 05/12/2010 - 23:22 | 348318 Howard_Beale
Howard_Beale's picture

LMAO...I'm $42 short.


Thu, 05/13/2010 - 08:12 | 348698 Hephasteus
Hephasteus's picture

Haggle with them. They'll do it to make a sale. This is how I got my $80,000 dollar porsche for the low low price of $79,950. Because they had pity on me. And I totally took advantage of them.

Thu, 05/13/2010 - 08:12 | 348696 genieous
genieous's picture

Good price for tungsten, IMHO

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