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Gold And Silver Bubble? - Some Retail Investors Taking Profits And ETF And COT Data Suggest Otherwise

Tyler Durden's picture


From GoldCore

Gold and silver are tentatively lower this morning despite the dollar
and especially the yen being under pressure. The possibility of Japan
being downgraded has seen the yen join the dollar under pressure and
gold has risen to over 124,000 Japanese yen per ounce, some 2% below
the record nominal high just over 126,000/oz.

Gold in Yen - 1 Day (Tick) GoldCore
Gold in Yen - 1 Day (Tick)

Japan’s public finances were already very poor prior to the earthquake
and nuclear catastrophe and are set to worsen considerably, which
should see the yen fall sharply versus gold.

Sovereign debt risk remains elevated in the eurozone and the cost of
servicing peripheral nations’ debt continues to rise. The cost of
insuring debt sold by Greece, Portugal and Ireland rose to records this
morning as have bond yields in Greece which have leapt to new records –
over 16% on the 10-year and 25% on the 2-year. Irish and Portuguese
10-year yields have risen to 10.63% and 9.65% respectively.

Cross-currency Table GoldCore
Cross-currency Table

Sovereign debt risk can now be seen in the eurozone but also in Japan
and the US, and as long as sovereign debt risk remains elevated,
precious metals will continue to be bought as hedges and for safe haven
purposes. This should lead to the continuation of gold and silver’s
secular bull markets. Although, participants should as ever realise
that there will be corrections – some of which can be sudden and sharp.

Evidence shows that speculation in gold and silver remains muted as
seen in the Commitment of Traders reports and the total gold and silver
ETF holdings – neither of which have shown huge increases or signs of
“irrational exuberance” or investors “piling in”.

Commitment of Traders (COT) data is hardly indicative of an overly
bullish sentiment extreme that would normally precede a sharp sell off.

Total Gold ETF Holdings - 1 Year (Daily)  GoldCore
Total Gold ETF Holdings - 1 Year (Daily)

Total ETF gold holdings (see above) are near the levels seen last June
and below the levels seen in September, October, November and December.

Total ETF silver holdings (see below) have risen in recent days but
are not far above the levels seen in December 2010 – some 5 months ago.

Total Silver ETF Holdings - 1 Year (Daily) GoldCore
Total Silver ETF Holdings - 1 Year (Daily)

Indeed, the ETF holdings appear to show that ETF precious metal holders
are “stickier hands” than had been expected as gold holdings look to
have consolidated above the 64 million ounce mark.

Total ETF gold holdings at 66.55 million ounces are worth nearly
$100 billion at $1500/oz ($99,825,000,000). Total silver holdings of
498.914 million ounces price at $45.50/oz are worth only some $22.7
billion, suggesting that silver remains under-owned when compared to
gold and could see a sharp increase in holdings in the coming months
and years.


The $22.7 billion (total silver ETF holdings) is a small number when
compared to the huge sums of money at the disposal of high net worths,
hedge funds and sovereign wealth funds. The last quarter saw Apple’s
iPhone revenue alone top $12 billion. This puts the silver holdings
figure in perspective.

One hedge fund alone, the Man Group, has assets of over $69 billion.

Some Clients Taking Profits and More Opting for Coins and Bars

Many of our clients have taken profits on certificates in recent days.
Most continue to be prudent and continue to maintain a core holding
(for portfolio diversification and financial insurance purposes) but
there are definitely concerns amongst some of a bubble.

Others have taken profits on certificates and bought gold and silver
coins and bars (in secure storage or delivered). Recently orders for
coins and bars have outweighed those for certificates and there is
definitely an increased preference for physical coins and bars and for
taking delivery.

Our ratio of sell orders to buy orders is the highest it has ever
been. Industry associates confirm that they have been seeing an
increase in selling on behalf of the public and that speculative buying
continues but is minimal.

The majority of the western public remain unaware of gold and silver
as investments and as stores of value. Most do not even know how much
an ounce of gold costs in local currency terms as precious metals
continue to be ignored by most of the non financial press or media.

This is in stark contrast to the Middle East and Asia where demand
remains robust and may even be increasing due to inflation concerns.

Ignorance regarding gold and silver in much of the western world is hardly indicative of a mania or speculative bubble.


Gold is trading at $1,508.25/oz, €1,028.10/oz and £911.05/oz.


Silver is trading at $45.44/oz, €30.97/oz and £27.44/oz.

Platinum Group Metals

Platinum is trading at $1,807.00/oz, palladium at $749/oz and rhodium at $2,250/oz.


(Reuters) -- Silver steadies, gold perky ahead of Fed decision
* Gold, silver may be rangebound ahead of Fed meeting
* India shows strong appetite for physical silver
* Coming up: U.S. Fed chief Bernanke briefing; 1815 GMT

Silver steadied on Wednesday, after its largest one-day slide in
over a month the previous day, while gold profited from a weaker dollar
which came under pressure ahead of a U.S. Federal Reserve interest
rate decision.

The Fed is not expected to signal any rush to scale back its
multi-billion dollar support mechanisms for the economy, so investors
are waiting to hear more on the outlook for monetary policy from
chairman Ben Bernanke when he gives the central bank's first
post-decision news conference later in the day.

With the dollar under pressure and its inverse link to gold
strengthening for the first time in a week, the bullion price was set
for a second day of gains, although a string of public holidays in the
United Kingdom restricted volumes.

Spot gold XAU= was last up 0.4 percent at $1,506.90 an ounce by 0940
GMT, about 0.8 percent below Monday's record high at $1,518.10. U.S.
futures for June delivery GCv1 were last up 0.3 percent at $1,507.30.

"It's consolidation. Gold has done a bit better than silver over the
last couple of days, but we're still in a holiday period here in
London so trading volumes are not as high as normal and I don't think
there will be a huge move (ahead of the Fed," said Mitsubishi analyst
Matthew Turner.

"I don't think there's much outlook until after the press conference," he said.

Gold could continue to draw strength from any weakness in the
dollar, particularly if the Fed maintains its accommodative policy
stance, in contrast with the European Central Bank, which has raised
rates as it attempts to curb inflation.

"The market is a bit mixed ahead of the Fed meeting, which will
influence the move of the dollar and precious metals," said Peter Fung,
head of dealing at Wing Fung Precious Metals based in Hong Kong.

Silver steadied somewhat, following its largest one-day fall in a
month the previous day. The price is on track for a 21 percent gain
this month and a 47-percent rise this year, making it the top performing
precious metal.

Dealers in Asia said strong physical demand was offering some
support to silver, although holdings of silver in the world's largest
exchange-traded funds staged their largest one-day outflow in nearly two
weeks by April 26. [GOL/ETF]

Spot silver XAG= was last flat at $45.48 an ounce, having recovered
from a 3-percent drop on Tuesday, its largest one-day slide in six

U.S. silver SIcv1 was last up 1 percent at $45.52. Implied
volatility in silver options has been at its highest this week since
November last year as the spot price has swung from lows around $43 to
highs above $49 in the space of a week.

"The recent sharp increase in volatility is an indication of the
increasing nervousness of market players and could be a sign that the
rally in the silver price is approaching an end," said Commerzbank in a

In fundamental news for silver, MMTC, India's largest bullion
importer, plans to double its silver purchases this fiscal year to
1,500 tonnes, to catch up with exploding investment interest.

Platinum XPT= was last up 0.4 percent at $1,804.49 an ounce, while palladium XPD= was flat at $750.00.

(Yonhap) -- S. Korean depositors look to foreign currency, gold
An increasing number of South Korean bank depositors are putting their
money into foreign-currency denominated deposits or gold-buying
deposits this month, data showed Monday, pointing to a growing appetite
for safe assets.

Four local banks including top lender Kookmin Bank drew US$12.6
billion in foreign-currency deposits as of Thursday, up $149 million
from the end of March, according to industry data. The deposits
rebounded in February after falling for the fourth consecutive month in

The rise came as customers try to put their money into such deposits at a time when the value of the dollar remains weak.

The South Korean currency, which hit a 32-month high to the dollar
last week, has risen about 5 percent per the greenback since the start
of this year. The won is widely expected to be under upward pressure
against the dollar, aided by robust exports and sustained inflows of
foreign capital.

As the dollar has slid against major currencies amid the U.S.
Federal Reserve's soft monetary policy, gold has extended its rallies,
sending the price of the precious metal above $1,500 per ounce.

The risks of global inflation are raising expectations that the
price of gold might rise as a tool of hedging inflation risks, market
experts say.

Demand for gold-buying deposits in South Korea has risen, reflecting
the popularity of gold as a form of investment, industry watchers

Such deposits came to 269.1 billion won (US$248.9 million) as of
Thursday, up 13.6 billion won from the end of the previous month,
according to Shinhan Bank. The deposits rose by 68.7 billion won from
the end of last year.

If people put their money into such gold-buying deposits, they can
invest in the equivalent amount of gold in accordance with changes in
gold prices.

(Reuters Life) -- South Korean infants hit by gold price surge
Surging gold prices have forced South Koreans to cut down on
traditional rings given to mark the first birthday of the children of
friends and relatives, making jewellers to come up with a lighter and
cheaper alternative to boost sales.

A gold ring is a traditional present to wish a baby good luck and
fortune, but a rise in gold prices to a record $1,508 an ounce on
Thursday has priced even the most devoted out. The rings are sized to
the baby's finger and its name may be engraved inside.

"On average, monthly sales of dol (first birthday) rings is only
one-tenth compared to last year," said Yoo Dong-soo, chairman of the
Korea Precious Metals Association.

A new one-gram ring, much lighter than the customary baby gift
weighing an eighth of an ounce or 3.75 grams, would help lift sales and
preserve the long-standing tradition, he added.

The first birthday is a huge ceremonial occasion in Korean tradition
that includes a birthday party. During the party, a baby, sometimes
wearing gold rings, selects an item from among things such as thread, a
pencil or money to predict their future, while families and guests

"The one-gram ring sounds just doable for both party hosts and
guests, we don't have to feel it's a burden," said Park Su-yeon, a
34-year-old mother who's planning her baby's first birthday party in

But sentiment only goes so far. Some parents have actually sold the
rings engraved with their infant's name to take advantage of rising
gold prices.

(Bloomberg) -- Silver May ‘Pull Back’ in Short Term, Standard Chartered Says
Silver may drop in the short term after the metal’s ratio to
gold was “overextended” and prices touched a record in London, Standard
Chartered Plc said.

“We look for a pullback in prices in the short term amid continued
volatility,” analysts led by London-based Dan Smith said in a report

(Financial Times) -- Does every pause have a silver lining?
Count references to the Hunt brothers in leading newspapers
and the results for 2011 look not unlike the stratospheric rise of
silver – the market they infamously tried to control in 1980.

But since Monday’s $49.70 an ounce peak – close to the record just
above $50 reached during the Hunt brothers’ episode – the metal is off
more than 8 per cent.

Is this market “sticker shock” – the jittery trading that surrounds
big round numbers – that can be overcome? Or is this the end of a
frothy, speculative rally?

There has certainly been speculation in the form of market-savvy
momentum-chasing hedge funds and the sort of retail investor interest
often seen during bubbles.

But there is also genuine end-user interest: Indian consumers,
priced out by the rally in gold, are increasingly turning to silver.

US consumers too have been doing their bit. Sales of silver coins
have rocketed since the financial crisis. Some of this is linked to
fear of the damage to the dollar from the Federal Reserve’s ultra-loose
monetary policy.

Silver’s rally needs to be put into perspective. At almost 150 per
cent over seven months, it is stunning, but far short of the
spectacular 400 per cent in five months managed during the Hunt
brothers episode.

Put against gold, silver does look distinctly racy. The ratio of
gold to silver prices is at its lowest since 1980, and has plunged from
46 in January this year to 33.

There are reasons enough to think silver’s rally could fade. Fed
“fears” should ease if, as expected, it confirms today that it will end
its quantitative easing in June, even if no rate rises are yet in

There is, however, no logical reason for $50 an ounce to be anything more than a psychological issue for investors.

But it would do no harm for investors to at least pause to take stock before even considering another push higher.

(Bloomberg) -- Hong Kong Mercantile Bourse to Start Trade With Gold May 18
The Hong Kong Mercantile Exchange, backed by the world’s
largest lender, will start trading dollar- denominated gold futures on
May 18, tapping demand for the metal which has rallied for 10
consecutive years.

The exchange received permission from the city’s Securities and
Futures Commission, it said today in an e-mailed statement. The futures
will be the bourse’s first product, and there are plans for industrial
and other precious metals, energy, agriculture and commodity indices,
it said. Gold futures are currently traded on the Comex division of the
New York Mercantile Exchange.

Immediate-delivery gold soared almost 30 percent last year and this
week reached a record $1,518.32 an ounce, as investors sought to
protect their wealth from further currency debasement and accelerating
inflation. Chinese demand may advance 15 percent this year as investors
seek a hedge against inflationary pressure, according to the China
Gold Association.

“Our new platform will offer Asia a bigger say in setting global
commodity prices,” Barry Cheung, chairman of the exchange, said in the
statement. “Market participants in the region have had to rely on
Western exchanges for price discovery,” he said.

The new Hong Kong gold futures will be 1 kilogram per contract, with
physical delivery in Hong Kong. Trading hours will be between 8 a.m.
and 11 p.m. local time.

Trade on the Hong Kong bourse will start with at least 16 members
including Morgan Stanley and MF Global U.K. Ltd., the exchange said.
Transactions will be cleared through London-based LCH.Clearnet Ltd.,
the company said.

LCH.Clearnet is Europe’s largest clearing house, and has members
including the London Metal Exchange, the world’s largest marketplace
for copper and aluminum.

The Industrial & Commercial Bank of China, the world’s largest
lender by market value, bought a 10 percent stake in the Hong Kong
Mercantile Exchange in December to become a founding shareholder.


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Wed, 04/27/2011 - 08:22 | 1210786 Dangertime
Dangertime's picture

Silver Peaked, Bitchez.


Despite all of this "evidence" silver has STILL been moving down in the markets the last couple of days.  Most likely correcting down to the low $30's.  The above is just proof that the only person participating and causing this run-up is the average joe.

Best get out while you can and buy back in during the summer at 2/3 the cost.

Wed, 04/27/2011 - 08:27 | 1210795 cossack55
cossack55's picture

Go for it. Follow you're own advice. Let me know how it turns out for ya.

Wed, 04/27/2011 - 08:27 | 1210807 Dangertime
Dangertime's picture

I already have. 

Have you sold yet?  At the least you should stop buying and hedge your long plays.

Wed, 04/27/2011 - 08:30 | 1210818 Cash_is_Trash
Cash_is_Trash's picture

Come on Danger, pile into the dollar...

Do trillion dollar deficits and debt monetization not fit into your sound investing?

Wed, 04/27/2011 - 08:35 | 1210824 Dangertime
Dangertime's picture

I actually have most of my positions in gold, cash and slv puts.

I plan on liquidating the puts this summer and holding gold and cash probably until late August or Early September.

Trust me, you do not want to go down with the silver ship.

Wed, 04/27/2011 - 08:56 | 1210911 Bicycle Repairman
Bicycle Repairman's picture

So you didn't BTFD, bitch?

Wed, 04/27/2011 - 08:57 | 1210916 JPDG
JPDG's picture

Thanks funny because my local bullion dealer is out and I recently received an email from Apmex saying they'll buy ANY silver I have at $3 over spot!

Wed, 04/27/2011 - 09:18 | 1211021 Dangertime
Dangertime's picture

I STFR bitchez!

And when I sold my silver bars my dealer told me that he can get any silver but that the coins and the small bars have a premium.

Sure sign that all of this is just retail joe six-pack driven.

Wed, 04/27/2011 - 09:30 | 1211115 Fred C Dobbs
Fred C Dobbs's picture

No doubt.  The future had been decided.

Wed, 04/27/2011 - 09:41 | 1211175 EscapeKey
EscapeKey's picture

No doubt you cashed out at the top, right?

Anyway, please let me know your dealers telephone number so I can take advantage of this arbitrage opportunity. Smelting from one form to the other is not a significant expense on a large scale.

Wed, 04/27/2011 - 10:52 | 1211567 Troll Magnet
Troll Magnet's picture

yeah, step up your game, Dangertime, and give us the number of your dealer.  i'll give him plenty of business and in return, i'm sure he'll give you a sweet deal for bringing him more business.

you win, i (and others i'm sure) win.  we all win.  deal?  who's your dealer, Dangertime?

Wed, 04/27/2011 - 12:22 | 1211973 sunnydays
sunnydays's picture

Danger seems to have disappeared, he has not come back with his dealers phone number.


Wonder why?  Is it because what he posted is not true? 


We would all like this phone number of his dealer. 


Bet we won't ever see it.

Wed, 04/27/2011 - 11:30 | 1211802 Bicycle Repairman
Bicycle Repairman's picture

Bitch, when silver heads back up, shortly, you'll change your name or try to back fill with more lies.  You've been given far more attention than you deserve.

Wed, 04/27/2011 - 09:40 | 1211183 EscapeKey
EscapeKey's picture

If you have the majority of your portfolio in options, then you are either incredibly small fry, or someone who will eventually lose it all.

Wed, 04/27/2011 - 09:44 | 1211198 tmosley
tmosley's picture

Or both, lol.

Wed, 04/27/2011 - 10:51 | 1211559 Dangertime
Dangertime's picture

It is way to difficult to sell at the exact top.  But you can get the general range.

I use options when it is a decidedly easy trade.  Which is why I am still stunned that people her cannot see it.  Must be your Ego-investment.

Wed, 04/27/2011 - 11:31 | 1211795 ZapBranigan
ZapBranigan's picture

Hey Math Man, err...I mean Dangertime, go eat a bag of dicks.  Time for a new user name, I suggest 'Math Time'.  Did you ever collect that insurance money from crashing your Ferrari into your Beach House?

Wed, 04/27/2011 - 09:42 | 1211184 Robslob
Robslob's picture

Danger your name suits you as does your logic.

You are actually allowing them to dictate the value of your silver holdings and therefore are playing a very "dangerous" game with...yourself.

Buy, hold and forget...overtime the players always get "locked out" when the worlds "owners" decide to do so...

Wed, 04/27/2011 - 08:34 | 1210821 cossack55
cossack55's picture

Since I have been buying(?) since 1962 and have not sold yet, I think I'll just wait a little longer.

Wed, 04/27/2011 - 09:12 | 1210988 Snidley Whipsnae
Snidley Whipsnae's picture

I began seriously buying gold bullion in 1968... Prior to that I was a coin collector.

I have sold nothing and own no paper PMs.

Screw Comex and all the bs paper pushers.

Wed, 04/27/2011 - 08:42 | 1210850 Richard Head
Richard Head's picture

Trolls like this idiot usually don't have a job, let alone a trading account.  They just get their jollies being irritants.

Wed, 04/27/2011 - 10:11 | 1211338 Hephasteus
Hephasteus's picture

I think tyler should axe the zerohedge store and set up a put store that people can buy the puts for him and give him 15 percent of the profits.

Wed, 04/27/2011 - 10:54 | 1211587 Troll Magnet
Troll Magnet's picture

i'm sure Dangertime has a job at the moment.  this is what he does.  and he's being paid by either JPM, HSBC or the Fed.

Wed, 04/27/2011 - 08:29 | 1210813 CH1
CH1's picture

LOL... Good luck picking highs and lows my friend. I'm standing pat until I see daily "Metals Minute" shows on local TV stations.

Wed, 04/27/2011 - 08:33 | 1210825 tmosley
tmosley's picture

Funny how you "know" that.  You present yourself as some sort of all knowing magician, a god even.  Yet you have been proved and outed repeatedly as a liar.  Yet you keep coming back, buoyed by all of two days of price action, as if two days of price action means anything.

Also funny that you are telling people to realize enormous gains in silver, gains so large that selling the silver means that they would have to wait for a ten dollar correction (from THIS point, not the peak) before their tax loss is recouped to just break even.

What the fuck is wrong with you?  If you bought in 2001, a 30% down move is only going to see you break even, you moron.  Considering skyrocketing premiums, you are going to need a 50% correction to even make all this noise worth it.

But you wouldn't know anything about that, since you are an outed liar, and don't even know the historical price structure (or at least, you didn't know about it until I berated you for being  a liar because you got so many super basic things wrong), how could you possibly have been expected to think about the tax implications of your imaginary trading scheme?

Wed, 04/27/2011 - 08:36 | 1210835 flaxpin
flaxpin's picture

Going forward, everybody should just ignore dangertime.  ~42-45 silver...this is btfd time, unless you're optimistic that our central planners have an ultimate plan that isn't debasement.

Wed, 04/27/2011 - 08:41 | 1210843 Dangertime
Dangertime's picture

Classic rookie move.  You haven't watched silver for very long have ya?

Wed, 04/27/2011 - 08:54 | 1210896 tmosley
tmosley's picture

Uhh, you clearly haven't, because buying the dip has lead to gigantic gains for a decade.

But you wouldn't know anything about that, since your silver position was all in your head, and you sold it all without paying taxes because you live in Never Never Land.

Wed, 04/27/2011 - 09:19 | 1211027 Dangertime
Dangertime's picture

Oh right, yet another *lie* you claim to have exposed when all you are really doing is defaming someone who disagrees with your bubble view.

Wed, 04/27/2011 - 09:45 | 1211204 oddjob
oddjob's picture

Judging from the desperation in your posts you must be painfully underwater on some silver shorts,my condolences.

Wed, 04/27/2011 - 10:53 | 1211570 Dangertime
Dangertime's picture

Sounds more like tmosley is the desperate one.  i posted my positions, unlike everyone else.  I think that burns you the most.

Wed, 04/27/2011 - 12:22 | 1211988 LudwigVon
LudwigVon's picture

No you didn't. Again, who is your Physical Ag Dealer ?!


Wed, 04/27/2011 - 09:45 | 1211213 tmosley
tmosley's picture

Uh, yeah.  If you want to claim that it wasn't a lie, then tell us what nationality you are that doesn't tax capital gains on silver.  

Must be Somalian, lol.  No need to be embarrassed, friend.  I love Somalia, and the people therein.  I'm impressed that you are able to work as a trader there, though.  That must be tough.

Because EVERY OTHER COUNTRY on the planet taxes capital gains in silver just like everything else.  Except the US, which taxes them much more.

Wed, 04/27/2011 - 10:56 | 1211582 Dangertime
Dangertime's picture

Yet more lies and defamation.

I owe you nothing, and yet I was nice enough to warn you that silver peaked.  Don't look a gift-horse in the mouth.

Wed, 04/27/2011 - 11:54 | 1211889 tmosley
tmosley's picture

Why are you advising people in other countries on what to do?  

You are terribly irresponsible, at the VERY best.

Yeah, the Trojans didn't look their gift horse in the mouth, and look what they got.  You can take your "gift" and shove it up your ass.

Wed, 04/27/2011 - 10:58 | 1211614 Troll Magnet
Troll Magnet's picture

tmosley: +1

Dangertime: -999


hey dangertime, why don't you actually RESPOND to tmosley's charges instead of ALWAYS deflecting his (spot on) accusations or changing the subject? 

Wed, 04/27/2011 - 11:17 | 1211736 Dangertime
Dangertime's picture

His charges are BS and all based on lies.  Every time I answer he just makes up more lies about it.

I am seriously trying to help you guys, but it's hard when you are so willfully blind.

Wed, 04/27/2011 - 12:19 | 1211962 tmosley
tmosley's picture

Yes, they are based on lies.  YOUR lies.  

What country you from, jackass?  I know of only one country that you don't have to pay taxes, and that's Somalia.

Wed, 04/27/2011 - 12:26 | 1211994 LudwigVon
LudwigVon's picture


Wed, 04/27/2011 - 10:45 | 1211515 msamour
msamour's picture

This is a public interest message: Please refrain from feeding the troll, Thank you.

Now back to our regular broadcasting.

Wed, 04/27/2011 - 08:37 | 1210836 Dangertime
Dangertime's picture

Did you know that in countries outside of the US you can actually sell silver without paying the confiscation, er capital gains tax?


Good luck hoping for that change.  Yay freedom.

Wed, 04/27/2011 - 08:40 | 1210848 tmosley
tmosley's picture

Uh-huh.  Now you are outside the United States, huh?  Tell us what country, you lying sack of shit.

And why the fuck are you giving advise to people living under vastly different regulatory and tax regimes?  Anyone who has followed your advise has realized a real HUGE loss.

Wed, 04/27/2011 - 08:42 | 1210860 Dangertime
Dangertime's picture

I am already sitting on 15% gains on my puts.  While you are seeing red since you bought at $49. 


That blood which will be running in the streets?  That's yours.

Wed, 04/27/2011 - 08:51 | 1210884 tmosley
tmosley's picture

What country, bitch?  Don't go looking up tax codes to try to find one that doesn't tax silver gains.  Tell us right the fuck now.

And stop trying to advise people, since you have now admitted that you don't know what the fuck you are talking about, since you live on some god forsaken island, since all major countries worldwide tax silver gains punitively, or even preemptively, like with the European VAT tax.

And my cost basis is is less than $16, you moron.  The highest I ever bought was $46.

Wed, 04/27/2011 - 08:55 | 1210899 Dangertime
Dangertime's picture

So you are already in the red on one trade.  Wonder how long before the others go red?


Where is the proof of these lies you keep accusing me of?  What lies?

Wed, 04/27/2011 - 09:11 | 1210990 tmosley
tmosley's picture

Your refusal to tell us your nationality is proof enough of the most recent lie.  

Wed, 04/27/2011 - 09:19 | 1211035 Dangertime
Dangertime's picture

And your continued defamation attempts with no proof show us that you are nothing more than a pump and dumper.

Wed, 04/27/2011 - 09:28 | 1211108 tmosley
tmosley's picture

No, it shows that you refuse to reveal your nationality.  What's wrong, are you evading taxes?  I am not unsympathetic to such things.

However, you are giving people shitty advice, telling them to sell their silver and buy back more later, because you aren't thinking of who you are talking to.  Most of the people here are American, meaning we get taxed at a higher rate on silver gains than other types of gains, and many further have to pay state income taxes.  This means, for those who are long time holders, that selling silver now would require a 70% drop in silver price to see any gain, IF you could find ANY physical silver at that price.

Face it, chump, you are outed.  Go get another user name.  This one is done.

Wed, 04/27/2011 - 10:55 | 1211595 Dangertime
Dangertime's picture

Physical silver is not hard to find.  And wtf math are you using to say that you would need a 70% drop to break-even?

It becomes clearer to me just why your portfolio is so red.

Wed, 04/27/2011 - 12:24 | 1211986 tmosley
tmosley's picture

Silver is up 9 fold since you bought it.  When you sold it, you realized a gain approximately equal to your sales price.  You thus incur the 40+% tax on "collectables", which silver is taxed as.  You then have state income taxes, as well as transactional losses and the fact that premiums are exploding everywhere.

And physical silver is scarce now, when the price is near the all time high.  What do you think is going to happen to the supply when the price drops 70%?  The same thing that happened every other time the price dropped that much--it's going to fucking disappear.

Also, you're colorblind.  NOTHING in my portfolio is red.  Your puts, except for the last group you bought, on the other hand... 

Wed, 04/27/2011 - 10:56 | 1211600 Charlie Bravo
Charlie Bravo's picture

Your refusal to answer the question proves you're just another worthless troll.

Charlie Bravo

Wed, 04/27/2011 - 11:22 | 1211748 Dangertime
Dangertime's picture


I have answered every one of his questions with the honest truth and he still tries to claim I lie.

Well I'm done answering his questions.  My prediction for silver stand.  If I am wrong on that call then I will deserve the eggs being thrown.  But if I am right, then that is all that matters.

Of course, when I am proven to be accurate on that call, you will still all hate me.  Which just shows how irrational of a group all of you tinfoil people really are.

Wed, 04/27/2011 - 11:37 | 1211815 ZapBranigan
ZapBranigan's picture

We'll see, fuckface, we'll see....  Time will tell, hope you have your SNAP card ready, 'cause you's gonna take a bath when this all washes out.

Wed, 04/27/2011 - 12:23 | 1211992 tmosley
tmosley's picture

You've answered nothing, because you know that the answer to the question of your nationality will prove once again that you are a liar.

Which country do you live in where they don't charge taxes on capital gains in silver?

Wed, 04/27/2011 - 09:33 | 1211122 Richard Head
Richard Head's picture

Dumbshit, you admitted to having SLV puts at 25, 27, 30, etc.  You're a fucking loser troll.

Wed, 04/27/2011 - 09:36 | 1211158 tmosley
tmosley's picture

lol, he must have octuple downed right at the very peak.

Wed, 04/27/2011 - 10:56 | 1211601 Dangertime
Dangertime's picture

Find me where I bought 25, 27 and 30 puts.  Liar.

More lies and defamation intended to discredit me so you can pump this pig.

Wed, 04/27/2011 - 11:06 | 1211669 Troll Magnet
Troll Magnet's picture


if Blythe Masters saw how pathetic you are at your job, she'd fire you.



Wed, 04/27/2011 - 10:57 | 1211610 Dangertime
Dangertime's picture

Find me where I bought 25, 27 and 30 puts.  Liar.

More lies and defamation intended to discredit me so you can pump this pig.

Wed, 04/27/2011 - 12:23 | 1211979 Hephasteus
Hephasteus's picture

You have a email from your puts seller.

Wed, 04/27/2011 - 11:01 | 1211636 Troll Magnet
Troll Magnet's picture


when cornered, Dangertime changes his nationality/geographic location.

Dangertime is an international man of mystery!

Wed, 04/27/2011 - 08:56 | 1210912 fuu
fuu's picture

You don't even know when you are getting your ass handed to you in a comment forum. Why would I think you know shit about anything else?

Wed, 04/27/2011 - 09:18 | 1211042 Dangertime
Dangertime's picture

The smart people will learn in two months how accurate my calls are.  The slow people will just rationalize how they *are in it for the long-term* and still claim that I lost money.

Wed, 04/27/2011 - 09:27 | 1211087 tmosley
tmosley's picture

Mr. Taxman, where are you?

Wed, 04/27/2011 - 10:09 | 1211342 Hephasteus
Hephasteus's picture

You'll show us.

Show us your ass.

Wed, 04/27/2011 - 11:00 | 1211630 Dangertime
Dangertime's picture

No need, your resident ass tmosley is already present.

Wed, 04/27/2011 - 12:31 | 1212028 LudwigVon
LudwigVon's picture


I just read down the page and was also surprised how bad he got PWNED

lol, thanks T

Wed, 04/27/2011 - 12:37 | 1212050 tmosley
tmosley's picture

It was fun, like skeet shooting, but with trolls.

Wed, 04/27/2011 - 11:03 | 1211654 Troll Magnet
Troll Magnet's picture

bought at 49?

i think most of us here bought at MUCH LOWER. 

man, you're pathetic.  go home.

Wed, 04/27/2011 - 09:14 | 1211015 Snidley Whipsnae
Snidley Whipsnae's picture

DT...Profits on PMs are taxed like ordinary income. If you don't know that, and obviously you didn't, then you should not be posting on the topic.

How much are you being paid to be an irritant?

Wed, 04/27/2011 - 08:41 | 1210844 LRC Fan
LRC Fan's picture

You're one of my favorite, if not THE favorite poster here.  But why do you keep engaging these idiots?  It's a bit sad to see you waste your time.  Just ignore them and let them wither away, trying in vein to dig silver out of their backyard for $5.

And, ignoring my own sage advice, there will be no "getting back in" to silver at some point in the future, at least not for less than $100.  I'm talking physical, American Eagles or Canadian Maples in your hand.  They are in short supply now, just imagine if even .05% of the public wakes up and buys and holds physical.  It's over at that point, it will be a feeding frenzy that will have no good end unless you actually hold coins/bars in your possession.  Comex busts, JPM short position blows up, USD tanks, etc.  That point may not be for a few years, but it could very well happen at any time, even this weekend.  Why risk it? 

Wed, 04/27/2011 - 08:46 | 1210872 tmosley
tmosley's picture

Sadly, trolls do not simply "wither away".  I have learned this from experience.  I left Master Bates alone for months, as did many others, but he just kept going on and on.

Read this:

Then realize that these guys are not normal trolls, but are here with an agenda, and as such, can not be integrated into the community.  Apply that lesson to remove a few of the options in the article, and you get my approach, which is mostly interrogation.  Use the information gained in a logical manner to unveil the lies and hypocrisy.  Once that is done, they have to leave (eventually).

Wed, 04/27/2011 - 08:51 | 1210882 Dangertime
Dangertime's picture

Don't forget the part where if the troll is not lying, you can just accuse them of lying over and over again even without providing any sort of evidence.

Wed, 04/27/2011 - 08:53 | 1210888 tmosley
tmosley's picture

The troll can continue to claim that I have provided no evidence, even though I have posted it dozens of times.  Your comments have had fatal flaws and inconsistencies that can only be explained by agenda driven lying.

Now which country do you live in so I can expose yet ANOTHER lie?

Wed, 04/27/2011 - 08:57 | 1210905 Dangertime
Dangertime's picture

Bullshit, all you can do is accuse me of lying where you have no evidence.  You just claim weird shit that isn't true or you claim that I am lying because I said I bought gold in 2000.

WTF kind of drugs are you on to say that I am lying about everything because I bought gold in 2000?

Wed, 04/27/2011 - 09:03 | 1210938 tmosley
tmosley's picture

You listed the prices you bought at in one thread, prices which in gold were only achieved for 19 trading days in 2000.  You listed the price you bought silver at as well.  In another thread, you then said you bought silver a year later (catching the bottom), apparently forgetting that you had given us your buy in price.  That price was only seen for 4 days in 2001, and that was at the very start of the year on high volatility days.  It did, however, match the time when the price for gold was as given.

Further, you are a liar (for the 837465th time), because you admonished us about how prices could fall suddenly, giving us the example of when they fell from $14 to $8.  BUT THEY NEVER FELL FROM A HIGH OF $14 TO A LOW OF $8.  Not once in the history of human events.  It was clear that you were talking about 2008, when it fell from $20 to $8.  You then tried to pass it off as if you were talking about 2006, but that wasn't the fall we saw there either, where it went from $15 to $10.  WAY. THE. FUCK. OFF.

ANYONE who held gold and silver during those times would know these things, but you don't.  This means you are either incompetent or a liar or both.  In any event, you should FUCK OFF.

Wed, 04/27/2011 - 09:21 | 1211057 Dangertime
Dangertime's picture

Now I see the problem, if I don't post exact numbers then clearly I am a liar.  No matter that we are talking ten years ago.

I bought gold and silver at the prices I mentioned and at the times I mentioned.  Your stating how *unlikely* it was does not prove jackshit.

Please post the link and the exact wording I used in these alleged lies.  If not then STFU pumper.

Wed, 04/27/2011 - 09:29 | 1211112 tmosley
tmosley's picture

I'll post that after you post your nationality, tax evader.

Wed, 04/27/2011 - 11:03 | 1211637 Dangertime
Dangertime's picture

Bullshit, you won't and you know it.

You are a pump and dumper, no doubt doing the penny stock pink sheets on the side.

Wed, 04/27/2011 - 12:27 | 1211998 Hephasteus
Hephasteus's picture

You been watching blackeye'd pea videos havent ya. I sold in 2008 you sold in 2000 and late.


Wed, 04/27/2011 - 13:35 | 1212351 RockyRacoon
RockyRacoon's picture

We need to see your long form birth certificate.

Wed, 04/27/2011 - 08:57 | 1210906 Pool Shark
Pool Shark's picture

Okay genius (Dangertime);

Quote time and price:

Where will POS be by NYSE open on 5/2/11?

I'll even make it simple for you: will be it be above or below where it is right now? ($45.50)

Wed, 04/27/2011 - 08:55 | 1210910 Dangertime
Dangertime's picture


Wed, 04/27/2011 - 09:09 | 1210964 tmosley
tmosley's picture

Below what?  You didn't write anything below, so I have to assume you were trying to talk about the price, but you tweaked out.  Must be having strokes from all these lies that are coming out.

Now what country do you live in, bitch?  Stop digging madly through foreign tax codes and tell us.  Or you really are AMerican, and you realize that you have made a gigantic god damn mistake that you will never recover from if you really are doing as you say you are.

Wed, 04/27/2011 - 09:22 | 1211070 Dangertime
Dangertime's picture

Dude, you need to work on your comprehension skills.  He gave an above/below question at the end and I answered it.

Wed, 04/27/2011 - 11:15 | 1211702 Troll Magnet
Troll Magnet's picture

please stop, tmosley!  you're KILLING HIM!!! 

(and i'm lovin' it!  is that wrong?)


Wed, 04/27/2011 - 09:19 | 1211045 Snidley Whipsnae
Snidley Whipsnae's picture

Better apply for a new screen name dangertime. Your cred is shot to hell

Wed, 04/27/2011 - 12:39 | 1212055 LudwigVon
LudwigVon's picture

This is absolutely true. The writer and associated username discredits itself through logical processes. To point out flaws everytime IS important, this work is appreciated as general or newer ZH browsers are able to quickly discredit the new irritant username and move on to the meat of the subjects and real information offered here.

Wed, 04/27/2011 - 12:56 | 1212130 rosiescenario
rosiescenario's picture

...the guy sounds like Larry Krudlow...rarely right, never in doubt, pontification personified.


I have been adding to my silver miners during this "correction". As far as I can tell, the economy still sucks which means more air drops from Ben no matter what comes from his mouth. There are still shortages of silver. And, the mining stocks are enjoying massively expanding net margins while at the same time mining lower grade ores, thus extending their reserves.


For example, according to Hecla, the average price received in 2010 was $22.70, up from $15.63 in 2009. That is a 45% increase. If silver prices received average $35 this year, then that is an increase of 50% over the prior year.Since HL has actually a negative cost associated with its silver production (due to bi-metals produced), those major increases in prices received should translate into some very impressive net margins for the company.


I chose HL just as an example....all the miners I own have seen similar large expansions in their net margins for 2010 and will see similar increase yet again in 2011 if silver stays north of $35 on average for the year.


What all that means to me....BTFD.

Wed, 04/27/2011 - 09:11 | 1210992 Samuel Morales Jr.
Samuel Morales Jr.'s picture

Last couple of days? Is that all you have? How about a ten year, or 5 year chart of silver? I got those charts, and you are talking about last 2 days? Wow, such a short term investor. When gold plunged down towards 700 in the economic collapse, I suggested you should buy more gold. About a couple of years later, gold is around 1,500. I don't care much about your couple of days. No investor judges things by 2 days of activity. Ok other than the last couple of days, do you know where silver prices will be in a year? RSI has silver up for last few years. I think last few years versus your last couple of days with a grain of salt.

Wed, 04/27/2011 - 09:23 | 1211076 Dangertime
Dangertime's picture

All I have to know is that silver is riding down to the low $30's for a 30% loss.  If you want to partake in that then have fun.

I will be buying back in come August and still participate in the continued silver bull market.

Wed, 04/27/2011 - 12:32 | 1212023 tmosley
tmosley's picture

After you pay your taxes, and with increased premiums, you won't be able to buy as much as you just sold.

Why don't you tell us your nationality so we can calculate your tax loss for you?

Wed, 04/27/2011 - 10:48 | 1211524 JW n FL
JW n FL's picture

 by Dangertime
on Wed, 04/27/2011 - 08:22


Silver Peaked, Bitchez.


Despite all of this "evidence" silver has STILL been moving down in the markets the last couple of days.  Most likely correcting down to the low $30's.  The above is just proof that the only person participating and causing this run-up is the average joe.

Best get out while you can and buy back in during the summer at 2/3 the cost.


I Junked You!


1. I hope the Shaky Hands do get blown out.

Because the Price will be lower and I can Buy just that much More.

2. The $50 Hunt Bros Psychological Barrier once broken through.

Will be the beginning of the end of any nay saying.

3. BTFD’s?! It is NOT! Hard to Grasp.


Your bet that this is a down turn that will last until mid-summer? Is beyond fucking ridiculous!


1.   2 and 1/2 weeks before the end of POMO.. and maybe 3 -4 weeks of screaming until it gets turned back on? NOPE! It would go two weeks because the floor will fall out from underneath the DOW’s feet.

There can be no hesitation in Money being pumped into the markets or the markets will falter, which makes Obama look bad.. which means he loses market share!


I am looking for nervous, profit taking, idiots.. to move the market lower. But that only holds true if nothing blows up on T.V. in heavy rotation. At which point all bets are off and the run continues and this time it will be televised which will cause even more price pressure. Silver and Gold are now something other than the tin foil hat crowd discusses openly. My advice, buy when its down… and sell when its up. Or just buy when its down and don’t sell. That works too, depending on what your goals are. APPL will be down on the tracking issue, tracking iPhone Users even when its turned off is going to leave a mark.



Wed, 04/27/2011 - 10:50 | 1211543 Troll Magnet
Troll Magnet's picture

hey Dangertime,

how much money are they paying you to do this day in and day out? 

there are REAL reputable people out there who are putting their reputation on the line (marc faber, bob chapman, max keiser, james turk, eric sprott, even jim rogers et al) by urging people to buy silver and other precious metals.  YOU on the other hand are an anonymous keyboard warrior who comes here day in and day out just to get a rise out of folks who are trying to protect themselves from Ben Bernanke's madness.

shame on you.

Wed, 04/27/2011 - 11:02 | 1211652 Dangertime
Dangertime's picture

When silver collapses to low $30's, I wonder if you will realize that I am actually trying to help you.

Wed, 04/27/2011 - 11:17 | 1211738 Troll Magnet
Troll Magnet's picture

i don't need you to help me, you fraud.

i got in at 20 and whether i continue to accumulate at current price or not, i'll be fine with or without my PMs because i have a real job that's not dependent on financial terrorists or wannabes like yourself.

Wed, 04/27/2011 - 11:23 | 1211758 Dangertime
Dangertime's picture

The madness of crowds.....

Wed, 04/27/2011 - 12:30 | 1212016 tmosley
tmosley's picture

The stupidity of lying trolls posing as investment advisors.

You do know you could get sued for that, right?

Wed, 04/27/2011 - 08:28 | 1210809 bankrupt JPM bu...
bankrupt JPM buy silver's picture

I know 2 people that 'got into' silver last year.  2. One, two.  Thats it.  Sell the story...I will be here buying more

Wed, 04/27/2011 - 08:36 | 1210830 CH1
CH1's picture

I've gone on about silver and gold for years. ONE guy bought a little.

Wed, 04/27/2011 - 10:50 | 1211554 JW n FL
JW n FL's picture

Now that its on MSN or CNBC they will buy!

Wed, 04/27/2011 - 11:19 | 1211746 I Got Worms
I Got Worms's picture

I've been talking to all my friends and family about silver and gold for 2 years. Not one has bought any, and they all have the means. I finally got my parents to buy 1 oz of gold and 50 oz of silver last year (I think they bought just to shut me up).  Everyone thinks I'm a loon. Other than my folks, I don't know a soul who holds physical. Bubble, my ass. 

Wed, 04/27/2011 - 08:30 | 1210810 flaxpin
flaxpin's picture

@dangertime - There are many arguments for and against "silver has peaked".  But how can you be so cocksure?  Retard.

Wed, 04/27/2011 - 08:34 | 1210832 Dangertime
Dangertime's picture

It will come to you with experience.  Well not you, but intelligent investors.

Wed, 04/27/2011 - 08:40 | 1210841 tmosley
tmosley's picture

I love how ANYONE who questions you is "not an intelligent investor".  To you, people who take the investment advice of random people on the internet are "intelligent investors".  Especially when those people talk about ducking in and out of long term silver positions without even considering the tax rate which for you would now amount of a 30+% tax on your whole sale.

But that's your problem.  You don't think.

Wed, 04/27/2011 - 08:40 | 1210851 Dangertime
Dangertime's picture

I could swear that you were a random person giving advice as well.

Of course, the difference between you and I is that I am right, and you are wrong.  The next two months will show you.

Although you would still deny it and call me a liar the whole ride down.  Tragic.

Wed, 04/27/2011 - 08:56 | 1210914 tmosley
tmosley's picture

I'm not a "random person".  I post using my name, and have been making correct calls for YEARS, in PUBLIC.  You have just appeared, and have assured us that even though you have ZERO track record of predicting things in public before they happen, that we should all listen to you and realize huge tax liabilities because for some reason we all live in Never Never Land too, and don't have to pay taxes on our gains, which for most of us are so large that we would need a 50% correction to realize a 10% gain in metal weight, all while taking on the HUGE risk that silver keeps running, and we lose the ability to buy the same amount of silve we had in the first place.

Go back to Never Never Land and get fucked by Michael Jackson's ghost, you fuck.

Wed, 04/27/2011 - 09:27 | 1211081 Dangertime
Dangertime's picture

So basically your tactic is to lie and defame people who disagree with you.


Wed, 04/27/2011 - 09:30 | 1211118 tmosley
tmosley's picture

No, you need to work on YOUR reading comprehension skills.  What you said has nothing to do with what I said.

Now you are just being pathetic.

Wed, 04/27/2011 - 11:22 | 1211753 Troll Magnet
Troll Magnet's picture

me thinks dangertime is math dude's basementmate. 

Wed, 04/27/2011 - 12:33 | 1212040 Hephasteus
Hephasteus's picture


No it's guy in some clown hole shit box like 20 feet from gitmo or downwind from a piss lake in israel. What's funny is they are probably applying all the traffic blending and routing cover for him when he can't even maintain or create a credible online persona.

Opportunity History

    * Complete View
    * Original Synopsis Sources SoughtJun 22, 20101:42 pm
    * Changed Jun 22, 20102:07 pm
    * Changed Jun 29, 201011:32 am

Solicitation Number:RTB220610Notice Type:Sources SoughtSynopsis:Added: Jun 22, 2010 1:42 pm Modified: Jun 22, 2010 2:07 pmTrack Changes0001- Online Persona Management Service. 50 User Licenses, 10 Personas per user.
Software will allow 10 personas per user, replete with background , history, supporting details, and cyber presences that are technically, culturally and geographacilly consistent. Individual applications will enable an operator to exercise a number of different online persons from the same workstation and without fear of being discovered by sophisticated adversaries. Personas must be able to appear to originate in nearly any part of the world and can interact through conventional online services and social media platforms. The service includes a user friendly application environment to maximize the user's situational awareness by displaying real-time local information.

0002- Secure Virtual Private Network (VPN). 1 each
VPN provides the ability for users to daily and automatically obtain randomly selected
IP addresses through which they can access the internet. The daily rotation of
the user s IP address prevents compromise during observation of likely or
targeted web sites or services, while hiding the existence of the operation. In
addition, may provide traffic mixing, blending the user s traffic with traffic from
multitudes of users from outside the organization. This traffic blending provides
excellent cover and powerful deniability. Anonymizer Enterprise Chameleon or equal

Wed, 04/27/2011 - 12:41 | 1212059 tmosley
tmosley's picture

Sounds to me like they need to upgrade their programs to account for their tax laws.

It literally makes no sense for a long term silver bull to sell out of their ten year old position.  If you want to have it for the future moonshot, you'd best hold onto it.  Don't realize gains unless you want the money for an entirely different purpose, preferably one that can be written off.

Wed, 04/27/2011 - 11:27 | 1211786 knowless
knowless's picture

your arrogance belies a lingering fear, like a child denying the smell of feces, when it's obvious they shit their pants.


I could never hope to be a more annoying person than you.

Wed, 04/27/2011 - 08:31 | 1210811 Robot Traders Mom
Robot Traders Mom's picture

Good strategy. Get out before it falls all the way to 1475 and then get back in when it hits 1800.

Makes perfect fucking sense.

Wed, 04/27/2011 - 08:36 | 1210829 Cash_is_Trash
Cash_is_Trash's picture

That $35 adjustment is a real collapse, brother.

Maybe the exchanges will even lower the margins.

Wed, 04/27/2011 - 09:08 | 1210959 Hephasteus
Hephasteus's picture

If it falls 60 bucks they stretch the over spot price 20 to 30 dollars so even when it falls it only affects sellers not buyers.

Wed, 04/27/2011 - 08:32 | 1210816 jkruffin
jkruffin's picture

Silver is looking pretty weak, and I think it will correct back to high 30's, not low 30's, but in any case the charts show a downswing in motion.  Probably money coming out of metals into stocks, hence the SPY highs again.  Bernanke planned? You bet!

Wed, 04/27/2011 - 08:52 | 1210886 Dangertime
Dangertime's picture

The real question is, how many are going to get to one of the lifeboats before this silver ships sinks.  Time is running out fast.

Wed, 04/27/2011 - 09:36 | 1211137 tmosley
tmosley's picture

Says the guy dogpaddling for the Titanic.

Wed, 04/27/2011 - 09:02 | 1210925 fuu
fuu's picture

Right. Because the amount of money in the silver market will have such an amazing effect on stocks. How big is the entire silver market again? How big is the DOW, S&P, or Nasdaq again?

Wed, 04/27/2011 - 08:32 | 1210817 Mercury
Mercury's picture

It's entirely possible that the Bernank tries to pull some stunt today intended to knock down commodities/PMs by projecting confidence in the Fed's command of the inflation situation.

Wed, 04/27/2011 - 08:40 | 1210838 CH1
CH1's picture

Lots of meetings in the suburbs of NY and DC over the Easter weekend...

And this was the biggest hit theiy could engineer?

Wed, 04/27/2011 - 13:05 | 1212169 rosiescenario
rosiescenario's picture can fool some of the people some of the time, but not all of the people all of the time.....IMHO the fool count is trending lower as more folks realize the con they have been an unknowing participate within.


Of course Ben is going to say the exact opposite of what he is going to be forced to do...just invert his BS and you'll have a road map of where we are actually headed.

Wed, 04/27/2011 - 08:33 | 1210820 Johnny Lawrence
Johnny Lawrence's picture

When you see lots of stories about something being in a bubble, that means it's not. 

Wed, 04/27/2011 - 08:33 | 1210826 the not so migh...
the not so mighty maximiza's picture

i still love silver

Wed, 04/27/2011 - 08:34 | 1210828 Teaser
Teaser's picture

If you can't whip it out and play with it, it ain't yours.

Wed, 04/27/2011 - 08:40 | 1210839 Josh Randall
Josh Randall's picture

Supply and Demand - remember - they don't have enough at the COMedianEX to SUPPLY anyone, hence you should be DEMANDING it.

Keep it simple stupid

Wed, 04/27/2011 - 08:39 | 1210849 Ruffcut
Ruffcut's picture

"Surging gold prices have forced South Koreans to cut down on traditional rings given to mark the first birthday of the children of friends and relatives, making jewellers to come up with a lighter and cheaper alternative to boost sales. "

Boy, that is just sad. What a valuable tidbit of bullshit.

So unemployment has been in a bubble for years. Can't wait for that to burst, too.

The term "bubbles", should stay with soap.This misuse of the term shows how nervous the hanky bankies are getting.

Wed, 04/27/2011 - 08:45 | 1210859 ivars
ivars's picture

Slowly getting the message, as comments suggest. That will spread among traders, and there is 30 USD in 1 month.Beware, what happens after correction:



Wed, 04/27/2011 - 10:00 | 1211277 Snidley Whipsnae
Snidley Whipsnae's picture

Yet another troll out of the closet... Ivar... Turn it around and ya got Ravi... Or Sravi... Isn't that a Greek Sandwich?

Wed, 04/27/2011 - 08:45 | 1210866 Darth Silver
Darth Silver's picture

the highest volume day in the history of comex silver trading occurred monday.  the result was a down day in silver. the result was also an increase in open interest.  hard to square that circle.


the desperation of the paper shorts is clear; crystal clear.  this ship is about to seek a major move up in the coming weeks  


buy physical  

Wed, 04/27/2011 - 08:48 | 1210871 gordengeko
gordengeko's picture

Lol, it will be over by the time the majority of the westerners figure it out.  Let them sell and buy it from them.  It's getting closer to the point of survival of the fittest, all you can do is inform those who will listen.  The rest will get a boot kick in the face by the state soon.

Wed, 04/27/2011 - 08:51 | 1210889 Doubleguns
Doubleguns's picture

Hmmm, Everyone loves to have gold but industrys have to have silver. Which one is the better buy?

Wed, 04/27/2011 - 08:51 | 1210890 Lazane
Lazane's picture

bla bla bla, answer this question and you will know all you need to know about what to do with your silver trade. Who or what is going to buy the Bernank debt machine? huh who what? the party is over, the hangover is upon us, and its a massive stabbing pain behind the eyeball. 


Wed, 04/27/2011 - 08:52 | 1210894 MrBoompi
MrBoompi's picture

I hope the price falls to $30. If that happens (and it won't) I'll move even more funds into physical, like I did back when the price was $27.

My goal is to own as many ounces as possible, which will come in handy if and when the dollar loses its reserve status.

I think if you look at it purely from a $/oz position, you miss the point.

Wed, 04/27/2011 - 09:00 | 1210919 6 String
6 String's picture

Our ratio of sell orders to buy orders is the highest it has ever been. Industry associates confirm that they have been seeing an increase in selling on behalf of the public and that speculative buying continues but is minimal.

The majority of the western public remain unaware of gold and silver as investments and as stores of value. Most do not even know how much an ounce of gold costs in local currency terms as precious metals continue to be ignored by most of the non financial press or media.

...And this is what I have been ranting about. The silver auction market full of fucktards is just ridiculous. I said silver buyers are some of the biggest sheeple in the country. They have no fucking clue, not anymore in general than those buying Amazon at 100X normalized earnings. It's all plain fucking stupid.

Of course, many will say this is where the opportunity lies. But that is bullshit. The real truth is that Westerners are so brainwashed they'd rather take a 40% haircut on a governement restructuring than own metal. It's a shit fuck auction market.

Wed, 04/27/2011 - 09:08 | 1210953 Math Man
Math Man's picture

Our ratio of sell orders to buy orders is the highest it has ever been.



It's all in the hands of day traders now, bitchez.


"The mania for silver has spread to the stock market as day traders pile into the buying.

Trading got so heated during the past two days that shares traded in the iShares Silver Trust, the biggest exchange-traded fund tracking the price of silver, topped that of the SPDR S&P 500 ETF, usually one of the most actively traded securities in the world.

Day traders "are going crazy," says Joseph Saluzzi, co-head of trading at brokerage firm Themis Trading. "It's typical of the bubbly speculation that's been going on in silver.""


Looks like everybody's in now.  SLV volume now exceeds SPY volume.  We are now officially in the hands of fast money - and that means there will be NO support on the way down.  The 60mm ounces of silver that were arbed in to SLV since the run began will fly out of there even faster than it went in...  4.4mm ounces came out yesterday alone.

Look fucking out below. 

And the hard to borrow doesn't mean shit... the rebate is still low.   Stocks almost always go on to the hard to borrow list when volume spikes and retail steps in.   The PBs don't know where the stock is because all their institutional holders have sold and they don't like to lend out broker stock.   The writing on the wall is here.  Silver is done, bitchez.

Wed, 04/27/2011 - 09:10 | 1210967 tmosley
tmosley's picture

Sorry, you called the top at $34.  We are outside your universe right now.  

Call us back in never.

Wed, 04/27/2011 - 09:16 | 1211012 Josh Randall
Josh Randall's picture

++++34, adios Meth Man

Wed, 04/27/2011 - 09:34 | 1211068 Math Man
Math Man's picture

Oh shit.  Darn.  Did I lose 2% of my portfolio on some on the puts  I bought last quarter?  What ever will I do?  I guess I'll have to go home and cry because I could have been up 2% more last quarter. 

You're such a fucking idiot it's not even funny...  my 2% loss doesn't mean shit.

Trade thesis is still intact, only now, the upside is even higher.   That is the great thing about puts.  You're wrong, you only lose the premium, and you live to fight another day.  When it hits, I make MULTIPLES of my investment, and make up for my small initial loss.   I'm stepping in for the big kill here.  It should be fun.

Unlike for you, when your 95% long silver allocation causes your net worth to drop 60% over the next few months.

Have fun with $20 silver, fucktard.

Wed, 04/27/2011 - 09:32 | 1211128 tmosley
tmosley's picture

Uh, yeah, you had no conviction, AND you were wrong.  Why don't you go to the Yahoo Finance boards and talk about the other 98% of your portfolio.  No-one here is interested.

Wed, 04/27/2011 - 09:36 | 1211152 Richard Head
Richard Head's picture

When you win the lottery, you make multiples of your investment too, jackoff!  Fact is you are a loser and haven't won shit.  Go troll somewhere else.

Wed, 04/27/2011 - 09:52 | 1211254 MadeOfQuarks
MadeOfQuarks's picture

Well you lost 3% whereas if you had made a correct call you could have made big money. Your call was just dead wrong, there's no getting round it. That's not to say silver won't correct in the future, we'll just have to see about that one, the question is if you were so wrong back then, what makes you think you are right this time?

Wed, 04/27/2011 - 09:58 | 1211282 Hephasteus
Hephasteus's picture

I was paid over 20 million dollars to bite the apple logo because my teeth they are so perfect.

I own 3 sports cars and rent 5 because you get bored you know.

I am so successful with the put buying. They won't sell me them any more.
They makka me take the psychic tests.

I normally charge the millions of dollars for the advice. But the world has given me so much that I feela I must help you poor and downtrodden silver buyers.

The silver is gonna be slaughtered. You must get out now.

Wed, 04/27/2011 - 10:06 | 1211313 Hephasteus
Hephasteus's picture

"You're such a fucking idiot it's not even funny...  my 2% loss doesn't mean shit."

I think that means someone else is spending your money. I wonder what they are buying?

Wed, 04/27/2011 - 11:52 | 1211881 ZapBranigan
ZapBranigan's picture

ZH'ers, please take notice that Dangertime leaves the conversation, then shortly thereafter, Meth Man shows up.  Way too obvious....

Wed, 04/27/2011 - 09:11 | 1210970 Mitch Comestein
Mitch Comestein's picture

One option some of you may consider if you are getting concerned about your silver position is to trade your physical silver for physical gold.  It can be done tax free through a 1031 exchange (Section 1031 of the US tax code).  The trick is that you CANNOT receive cash for your silver.  It needs to be a trade with a brokerage, coin dealer, etc.  Any cash received is a taxable gain.

Just a thought.  I have been doing this during the run up, and I will report it on my return this year. 

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