This page has been archived and commenting is disabled.

Gold Opens $1,520, Silver Over $50 Everywhere But Comex (For At Least A Few More Minutes)

Tyler Durden's picture





 

While markets are relatively quiet everywhere, precious metals have just gone apeshit. Gold opens at $1,520 while silver hits $49.70 on the Comex, drops, and is backing up again last treading at $49.22, as the world is pricing in the end of the US reserve currency. The parabolic melt up is in full force and we expect the nominal Hunt high to be taken out today, after which the resistance is the real Hunt high somewhere around $140, courtesy of the Federal Reserve confetti.

And this video from future money trends gives a better picture of the fiat melt down.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 04/25/2011 - 03:49 | Link to Comment youALREADYknow
youALREADYknow's picture

Welcome to the new normal.

Mon, 04/25/2011 - 11:37 | Link to Comment What does it al...
What does it all mean's picture

It made a 6 points plus round trip.   Where are the cheerleaders now?

Mon, 04/25/2011 - 13:43 | Link to Comment Hard1
Hard1's picture

My screens say:

S&P   -0.15%

DXY   -0.07%

Gold  +0.46%

Silver  +3.35%

Give me an S!.....

Mon, 04/25/2011 - 03:52 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Gold just came!

That means more QE from Helicopter Ben on Wednesday!

He's going to need a larger fleet of Chinooks. Maybe he can get Keebler Elf stunt double Timmay Geithner to authorize the U.S. Government borrow more money for The Bernanke Giant Sky Rodeo Helicopter Procurement Program, with interest paid to The Federal Reserve on that loan, of course.

 

Mon, 04/25/2011 - 03:48 | Link to Comment LudwigVon
LudwigVon's picture

I call a floor.

Mon, 04/25/2011 - 03:51 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The reverse of catching falling knives is hitting one's head on floors.

Mon, 04/25/2011 - 04:42 | Link to Comment Mr. Q
Mr. Q's picture

agree.

a top should be in place in the coming week.

Mon, 04/25/2011 - 08:33 | Link to Comment Long-John-Silver
Long-John-Silver's picture

I do believe Silver could hit $500 an ounce next week sometime.

Mon, 04/25/2011 - 13:49 | Link to Comment thames222
thames222's picture

lol...i'm holding for another week for sure, at least until more commercials and ads start popping up.

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 08:42 | Link to Comment smlbizman
smlbizman's picture

in early december, to end of jan. apmex shelfs were mostly bare....fast forward to today.....now apmex shelfs are empty again, but even more empty than before....so keep buying we are nowhere near the top......what is caveat emptor for sellers......oh  i no....silver bitchezzzzssss

right cassack55,

 

good morn "thatthing..."

Mon, 04/25/2011 - 03:51 | Link to Comment besodemuerte
besodemuerte's picture

I bought in at $17 thinking I was paying too much, then at $27, then at $37....holy fuck Silver is on a rocket to the moon. 

 

I can't help but assume this isn't the end for the USD.  It seems almost too easy and predictable.  I would gamble that the Euro goes first, causing a decent spike in the world's least shitty currency (USD) and a bit of stabilization before the inevitable ride down to paper production value.

Mon, 04/25/2011 - 03:55 | Link to Comment barkingbill
barkingbill's picture

i keep hearing that the euro should go first...why? they raise their interest rates...we don't. they aren't a reserve currency threatened with extinction like we are. you may be right, but lets have some proof, while the obvious endangered species at the moment is the u.s. dollar

Mon, 04/25/2011 - 08:37 | Link to Comment Long-John-Silver
Long-John-Silver's picture

Interest rates are the problem. They can't pay off the debt much less adding interest to it. The only solution is default which kills the Euro. From that moment Gold and Silver become money because it's the ultimate collateral.

Mon, 04/25/2011 - 04:37 | Link to Comment critical_mass_soon
critical_mass_soon's picture

Dollar is dead, america is the puppet of england and its war dog and this dog has served its purpose, we saw its rise and now we are witness to its fall, its all just part of the greater plan in the 'great game' we call life.

Its not about currencies its about power and control and they were always going to abuse the dallor and run it into the ground abit like you would an old car you plan to scrap sooner or later.

The Euro in my view will probably form part of a future world currency, but its here to stay thats for sure.

 

fayz

Mon, 04/25/2011 - 05:13 | Link to Comment zhandax
zhandax's picture

It seems almost too easy and predictable.

This ain't rocket science.  You print enough currency to buy your own debt and that currency becomes worthless.  Not that it will be painless, linear, or clear-cut.  There will be spin, bullshit, and retracements.  But now a 20% retracement in silver will take you back down to (gasp) $40.  Chew on that one a while.  Option expiration, bitches!  (After two years, I had to let at least one fly....)

Mon, 04/25/2011 - 05:17 | Link to Comment akak
akak's picture

Or, we have a phenomenally, unprecedentedly bad crash of 60%, and silver falls to a (very temporary) low of $20 --- 11% higher than it was on this date last year.  It's almost too funny.

Mon, 04/25/2011 - 08:38 | Link to Comment Long-John-Silver
Long-John-Silver's picture

That would cause the Mother of all PM buying frenzy.

Mon, 04/25/2011 - 08:51 | Link to Comment tmosley
tmosley's picture

No shit.  I'd sell my house to buy that dip.

Mon, 04/25/2011 - 13:09 | Link to Comment Exposer of Inte...
Exposer of Internet Shills's picture

Oh yeah... try and find any at that price :)

Mon, 04/25/2011 - 09:25 | Link to Comment Founders Keeper
Founders Keeper's picture

[That would cause the Mother of all PM buying frenzy.]---Long-John-Silver

...if silver is available for purchase.

And if people have any money left to spend.

 

Mon, 04/25/2011 - 22:00 | Link to Comment sun tzu
sun tzu's picture

What makes you think the Euro is here to stay? The EU is a fragile collection of over a dozen different languages, cultures, and people who have held grudges against each other for hundreds or even thousands of years.

Mon, 04/25/2011 - 05:44 | Link to Comment onesoul
onesoul's picture

While US paper is on its path to become a historical artifact, many good people in the US will be buried with it.

I hope that more can wake up and protect themselves, or even fight against the elite, while there is still time.

I agree paper will be valued a paper and silver and gold will be valued as "precious" with new floors of 1520 and 50.

Mon, 04/25/2011 - 09:23 | Link to Comment mark mchugh
mark mchugh's picture

You're right.  In many respects, the American public has gotten what it wished for:

  • Don't let my house lose too much "value"
  • Make my 401(k) go up
  • Keep interest rates low.

What you've actually wished for is a dollar collapse, and that's what you're getting.

I wonder what they will wish for next......

Mon, 04/25/2011 - 11:58 | Link to Comment dark pools of soros
dark pools of soros's picture

next to wish for??  virtual reality glasses for everyone

Mon, 04/25/2011 - 22:13 | Link to Comment sun tzu
sun tzu's picture

You mean the bankers got what they wanted. 

Mon, 04/25/2011 - 09:53 | Link to Comment Chuck Walla
Chuck Walla's picture

Man, I, too, was trying to think of a good way to explain to Mrs. Walla why I was buying at $18.  Now, I don't have to.

Mon, 04/25/2011 - 13:51 | Link to Comment thames222
thames222's picture

Yes, it is a little too predictable but it is our reality...i'm thinking they might try to institude a national ID card with paperless currency stored on it for everyone.  thoughts?

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 03:49 | Link to Comment Temporis
Temporis's picture

I'm happy yet scared as hell at the same time.

Is this the beginning of hyper inflation?

Mon, 04/25/2011 - 03:58 | Link to Comment AUD
AUD's picture

More than likely.

I'm going to pull cash out of the bank tomorrow & I'm in Australia! Only a matter of time before the bond speculators start questioning whether our government debt will be repaid, which it won't.

Mon, 04/25/2011 - 05:30 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

AUD... The government debt will be repaid but in nominal fiat... which will have a great deal less purchasing power as time goes by. The dollar and many other fiats are doomed by the printers. Disregard the 'debate' about the Fed stopping the printing presses...the result would be too politically painful to tolerate. Those holding dollar denominated paper best get out while that paper still has some purchasing power. The printing is nowhere near peak and neither is the price of gold/silver priced in a constantly sinking dollar.

Mon, 04/25/2011 - 04:27 | Link to Comment akak
akak's picture

Temporis, I share you concern and your fear.

I came home from Easter dinner this evening only to turn on my computer and find silver at $49.56.  One might think that such a figure might have excited a long-time watcher of the precious metals, but I almost felt like vomiting instead.  For the first time in this silver surge, I feel fear, real fear, of an imminent monetary shitstorm.

Mon, 04/25/2011 - 04:48 | Link to Comment Troll Magnet
Troll Magnet's picture

you know what this means...

when people think the world's coming to an end, they start having sex more freely.

condoms bitchez!!!

Mon, 04/25/2011 - 05:28 | Link to Comment EscapeKey
EscapeKey's picture

Why would you use condoms if the world's gonna end?

Mon, 04/25/2011 - 08:41 | Link to Comment Long-John-Silver
Long-John-Silver's picture

Ding Ding Ding! We have a winner!

Mon, 04/25/2011 - 05:34 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

The world is not going to end. The dollar is in the process of becoming another Peso and losing it's world reserve currency status. Some will prosper, some will lose, but the world and trade, though diminished for a time, will continue.

Mon, 04/25/2011 - 06:27 | Link to Comment nmewn
nmewn's picture

"Some will prosper, some will lose, but the world and trade, though diminished for a time, will continue."

Word.

And for those who produce, who labor, so that others may trade for profit...and spent some of their precious time to listen, to learn & then to verify, trusting in no one but themselves...to then understand the concept of monetary freedom & liberty...to then go outside the system that was formulated against them and save a portion of their labor in this way, that portion of their labor is now being revalued to something approaching it's true worth.

These are the times that try the elite class souls, lets see how they fare ;-) 

Mon, 04/25/2011 - 07:19 | Link to Comment Bringin It
Bringin It's picture

Now right there, you don't sound like a troll at all. 

That's really a pretty good post. 

How do you reconcile these thoughts with your beliefs in the government 9/11 fairy-tale?

Don't get angry.  Explain yourself.  For example ... What's your explanation for the controlled collapse of Building 7?

Here, try listenning to this first.  It may help you. Jerry Garcia Band: Deal

Either way peace out nmewn.  Whatever your game, you're gonna have to deal with the future just like everybody else.

Mon, 04/25/2011 - 08:47 | Link to Comment nmewn
nmewn's picture

"Now right there, you don't sound like a troll at all."

And yet, you still do. 

"How do you reconcile these thoughts with your beliefs in the government 9/11 fairy-tale?"

I see you're still smarting over my take down of the ghoulish little cottage industry you leftwing moonbats had set up around 911 victims in order to profit from their pain & misery...thats some tough shit right there huh?...victims cell phone calls, passenger flight timelines & schedules, suicide Mossad pilots, victims voice recognition software, pre-planted nano explosives impressively placed right where the planes went in...a grand conspiracy, all gone...when all it ever was, was gross federal government incompetence in allowing these bastards to get inside the nation and roam about freely & unmonitored as foreign nationals, which is all I ever said it was. 

And your idiotic comment has what to do with 911 and the fiat price of PM's exactly?...the gold recovered from the crater afterwards?...it's accounted for.

You obviously have a reading comprehension problem, you detestable maggot, I have always been for the common man and against the elites of any side that promote this Keynesian socialistic nightmare...you should just scroll on by and give your obligatory one junk so you don't embarrass yourself this way.

Mon, 04/25/2011 - 09:44 | Link to Comment Founders Keeper
Founders Keeper's picture

OT

nmewn. Read your post this weekend about your back injury. This is just a shout out to Get Well Soon---if not, then we'll see you at the Kamp FEMA infirmary.

Hope you had a blessed Easter.

 

 

Mon, 04/25/2011 - 10:18 | Link to Comment nmewn
nmewn's picture

I believe they would consider me as irredeemable on their part, I wouldn't have it any other way ;-)

It gets better every day...stronger, less pain...still a bugger right now though.

Thank you for your kind wishes my brother, my Easter was joyful but quiet under the circumstances, I trust yours was everything you had hoped for, filled with reverence and family.

Regards my friend.

Mon, 04/25/2011 - 07:00 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Damn you Snidley. Why mess up a leg-opener of a story. Damn. There goes my only chance!

Mon, 04/25/2011 - 07:12 | Link to Comment destraht
destraht's picture

It could even be a nice thing if the US gets to a point that it is only capable of waging war against one country on the other side of the world at a time.

Mon, 04/25/2011 - 07:35 | Link to Comment Ricky Bobby
Ricky Bobby's picture

+10

Mon, 04/25/2011 - 08:08 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Snidley nails it. +++++

Mon, 04/25/2011 - 09:12 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

A possible wild card would be war.

Mon, 04/25/2011 - 10:39 | Link to Comment FeralSerf
FeralSerf's picture

In times like this, there must be war.  How else are The Owners to explain to The Flock the reasons for The Unpleasantness that will be upon us RSN?  Our Flock Owners aren't about to admit responsibility for The Great Unpleasantness.  Therefor it must be the Other SOBs (the ones with the oil maybe?).

We must get even.  Even if it kills us.

Mon, 04/25/2011 - 13:55 | Link to Comment thames222
thames222's picture

thoughts on a $10,000 American USD bill, and that $10,000 being about enought to buy a gallon of milk?  lol INFLATION 2019

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 10:15 | Link to Comment Badabing
Badabing's picture

Long condom's !

Mon, 04/25/2011 - 06:03 | Link to Comment Tim White
Tim White's picture

   Exact same feeling & scenario here...

Mon, 04/25/2011 - 03:52 | Link to Comment mt paul
mt paul's picture

fifty bucks an oz

 

pocket change...

Mon, 04/25/2011 - 03:57 | Link to Comment camoes
camoes's picture

Silver son of a bitchez???

Mon, 04/25/2011 - 03:55 | Link to Comment dr.charlemagne
dr.charlemagne's picture

AMMO Bitches........

Mon, 04/25/2011 - 03:55 | Link to Comment Inthemix96
Inthemix96's picture

Jesus fucking christ,

Parabolic my arse, this is fucking mental

Mon, 04/25/2011 - 07:05 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Meh. Just pick it up off the street. MM.

Mon, 04/25/2011 - 03:58 | Link to Comment jmcadg
jmcadg's picture

Come on Blythe, do your worst, so we can buy more phyzz, then see highs the Hunt Brothers would have dreamt of. Silver Bitchez vs JPM whores The truth will out.

Mon, 04/25/2011 - 04:02 | Link to Comment squexx
squexx's picture
Alarm? China Orders Bank Stress Tests That Factor In A Massive, 50% Collapse In Housing Prices 25 APR 2011

http://investmentwatchblog.com/alarm-china-orders-bank-stress-tests-that...

Mon, 04/25/2011 - 04:15 | Link to Comment bothsidesnow
bothsidesnow's picture

Defcon 1 silva bitchez!

Mon, 04/25/2011 - 04:31 | Link to Comment D1eeeeeNAHHHHH
D1eeeeeNAHHHHH's picture

Great add on squexx.  Sounds like more monetary tightening to me.  Less credit=higher yuan if I recall correctly.

Mon, 04/25/2011 - 03:59 | Link to Comment camoes
camoes's picture

Jump condition, math bitchez

Mon, 04/25/2011 - 04:01 | Link to Comment SumSUN
SumSUN's picture

Even after all that turkey pms are keeping me up.  Esp. Ag.

Mon, 04/25/2011 - 03:59 | Link to Comment TruthInSunshine
TruthInSunshine's picture

It's a damn good thing that silver only costs $5 to dig out the ground.

I wonder if this applies to my back yard, too?

 

 

 

 

 

/sarc

Mon, 04/25/2011 - 04:30 | Link to Comment MolotovCockhead
MolotovCockhead's picture

Anyone have a good silver miner to recommend? Since it only cost $5 to pull it out of the ground, Silver miners is definitely going to hit the moon if not the outer edge of the universe! ;)

Mon, 04/25/2011 - 04:38 | Link to Comment Hephasteus
Hephasteus's picture

1000 guys with shovels

1000 5 dolla foot longs

A couple minutes later

50 grand!!!!

Mon, 04/25/2011 - 08:46 | Link to Comment Bringin It
Bringin It's picture

To Molotov:  I never see anybody answer questiosn like this on ZH.  It's like it's not cool.  I don't want to be uncool, but ask me again and I'll tell you.  Otherwise Bo pen yang..

Today, I'm absorbing the sense of global financial collapse.  My head will work better tomorrow.  And I thought the 60's were weird.

Mon, 04/25/2011 - 08:48 | Link to Comment Long-John-Silver
Long-John-Silver's picture

NO! Silver miners will go to zero as Governments nationalize them. As Gold and Silver (and perhaps copper too) return to reserve currency the governments in which those mines reside will be severely restricted to selling their product to that government or outright nationalized. In either case the end result is the same. Mining stocks to zero.

Mon, 04/25/2011 - 04:00 | Link to Comment Kina
Kina's picture

This is just a bit scary. This isn't somebody trying to corner a market, its the market telling the world that its scared.

Mon, 04/25/2011 - 04:06 | Link to Comment HoofHearted
HoofHearted's picture

If you aren't scared already, you haven't been paying attention.

Mon, 04/25/2011 - 07:15 | Link to Comment destraht
destraht's picture

I've just run out of my fluoride and lithium medications and this baby water isn't doing it for me. Fuck this sucks.

Mon, 04/25/2011 - 12:50 | Link to Comment dark pools of soros
dark pools of soros's picture

go vacation in some radiated oil spills..  cures what ails ya

Mon, 04/25/2011 - 04:10 | Link to Comment bothsidesnow
bothsidesnow's picture

You all are so funny it's an illiquid market fucktards. LME is closed just like the move on Thursday night Friday morning an illiquid market because NY and LME closed.

There are going to be a lot of tears flowing after this Wed so enjoy the exuberance while you can.

Defcon 4 , junk, Defcon 4, junk.

Mon, 04/25/2011 - 04:28 | Link to Comment HoofHearted
HoofHearted's picture

Hey dumb (but nice looking) ass, you think they don't trade silver in Hong Kong and in Sydney? You think that's a thin market? Then you aren't thinking at all. Go take a look at kitco. London has already opened. And silver is over 49 still. Shocking, huh? Maybe you need to rethink your thesis. 

Mon, 04/25/2011 - 04:41 | Link to Comment Quintus
Quintus's picture

I'm not saying he's right, but the LBMA is not open today, due to a public holiday in the UK.  Friday 29th April will be an additional holiday, so LBMA will be closed then too.

Mon, 04/25/2011 - 05:26 | Link to Comment zhandax
zhandax's picture

So what you are saying is price discovery doesn't count if the goons don't have their price suppression mechanism open for business?

Mon, 04/25/2011 - 11:44 | Link to Comment RockyRacoon
RockyRacoon's picture

You've nailed it.  But, unfortunately, this is the case.  As has been said before:  There are no markets, just interventions.

There are more and more Charlie Browns discovering that Lucy WILL pull the football.

Mon, 04/25/2011 - 12:55 | Link to Comment dark pools of soros
dark pools of soros's picture

that's why everyone here should cash some of their chips from time to time and put those gains into some other uses..  you can always buy more PM's as it keeps going up but spread out your gains so one nasty fall doesn't set you back -

remember you don't really get rich with PMs... you just don't go poor

Mon, 04/25/2011 - 05:11 | Link to Comment A Man without Q...
A Man without Qualities's picture

Reuters were saying there was massive buying in India, as well as Asia. If there is a next leg up for precious metals, the drive is going to come from the East. So, the fact the LME is closed today may just mean a nasty short squeeze tomorrow. AFTER ALL, who's got any REAL silver to sell?

Mon, 04/25/2011 - 04:51 | Link to Comment Troll Magnet
Troll Magnet's picture

i don't need to wait until wednesday to shed a tear.  i was crying my ass off because i missed the fucking dip!

Mon, 04/25/2011 - 04:14 | Link to Comment Hephasteus
Hephasteus's picture

Ya but yahoo is running stories about healthy snack foods such as certain ice creams and donuts and stuff. So I'm getting my easter wish. I'm extremely fulfilled right now.

Now I can cry Cornelious. Tears of joy.

Mon, 04/25/2011 - 04:04 | Link to Comment bothsidesnow
bothsidesnow's picture

The real Weimar inflation story for all you Weimar lovers:

At the end of the First World War, Germany was essentially tricked [see Paul Johnson A History of the Modern World (1983) p24 and H Nicholson Peacemaking 1919 (1933) pp13-16] into paying massive reparations to France and other economic competitors and former belligerent countries in terms of the so-called Treaty of Versailles, thanks to the liberal American President Woodrow Wilson. Germany was declared to be solely responsible for the war, in spite of the fact that ‘Germany did not plot a European war, did not want one, and made genuine efforts, though too belated, to avert one.’ (Professor Sydney B Fay The Origins of the World War (vol. 2 p 552)).

As a result of these massive enforced financial reparations, by 1923 the situation in Germany became desperate and inflation on an astronomical scale became the only way out for the government. Printing presses were engaged to print money around the clock. In 1921 the exchange rate was 75 marks to the dollar. By 1924 this had become about 5 trillion marks to the dollar. This virtually destroyed the German middle class (Koestler The God that Failed p 28), reducing any bank savings to a virtual zero.

According to Sir Arthur Bryant the British historian (Unfinished Victory (1940 pp. 136-144):

‘It was the Jews with their international affiliations and their hereditary flair for finance who were best able to seize such opportunities.. They did so with such effect that, even in November 1938, after five years of anti-Semitic legislation and persecution, they still owned, according to the Times correspondent in Berlin, something like a third of the real property in the Reich. Most of it came into their hands during the inflation.. But to those who had lost their all this bewildering transfer seemed a monstrous injustice. After prolonged sufferings they had now been deprived of their last possessions. They saw them pass into the hands of strangers, many of whom had not shared their sacrifices and who cared little or nothing for their national standards and traditions.. The Jews obtained a wonderful ascendancy in politics, business and the learned professions (in spite of constituting) less than one percent of the population.. The banks, including the Reichsbank and the big private banks, were practically controlled by them. So were the publishing trade, the cinema, the theatres and a large part of the press – all the normal means, in fact, by which public opinion in a civilized country is formed.. The largest newspaper combine in the country with a daily circulation of four millions was a Jewish monopoly.. Every year it became harder and harder for a gentile to gain or keep a foothold in any privileged occupation.. At this time it was not the ‘Aryans’ who exercised racial discrimination. It was a discrimination that operated without violence. It was exercised by a minority against a majority. There was no persecution, only elimination.. It was the contrast between the wealth enjoyed – and lavishly displayed – by aliens of cosmopolitan tastes, and the poverty and misery of native Germans, that has made anti-Semitism so dangerous and ugly a force in the new Europe. Beggars on horseback are seldom popular, least of all with those whom they have just thrown out of the saddle.’

Sound familar??

Mon, 04/25/2011 - 04:13 | Link to Comment AUD
AUD's picture

The banks, including the Reichsbank...were practically controlled by them

If the Reichsbank was controlled by the jews, how did their obligation (the Reichsmark) going to zero benefit them?

I don't think Germany was tricked into reparations either, they lost the war & had no choice. If they didn't agree they would likely have been totally occupied like the end of WW2.

Mon, 04/25/2011 - 04:20 | Link to Comment bothsidesnow
bothsidesnow's picture

They owned a large percentage of the real assets that they bought when inflation decimated the middle class. Isn't that what you all wan't to own real assets. I got mine and fuck everybody else.

Some of the people here boast about  hoarding real assets and laughing about being able to exchange their silver dollars for whatever they wan't to take from the fools who do not have silver.

I would be very careful for what you wish for.

Mon, 04/25/2011 - 04:34 | Link to Comment ViewfromUnderth...
ViewfromUndertheBridge's picture

a little knowledge is a dangerous thing

Mon, 04/25/2011 - 11:46 | Link to Comment RockyRacoon
RockyRacoon's picture

No knowledge is bliss.

Mon, 04/25/2011 - 04:34 | Link to Comment AUD
AUD's picture

The Reichsbank didn't own squat except for a pile of worthless German government bonds. If it was controlled by the jews then they got screwed like evryone else.

Mon, 04/25/2011 - 04:42 | Link to Comment bothsidesnow
bothsidesnow's picture

I think you may be missing the point regarding the transfer of real assets from the native Germans to the Jews because of inflation decimating the middle class.

Who gives a fuck what the fucking banks owned or didn't own as they were and still are manipulated fiat as proclaimed here and elsewhere.

The real assets are what counts and the first and foremost real asset is people. 

 

 

 

Mon, 04/25/2011 - 04:48 | Link to Comment Jolie Pepee
Jolie Pepee's picture

It was a transfer of wealth from the easy money crowd to the hard money crowd.

http://fofoa.blogspot.com/2011/04/deflation-or-hyperinflation.html

Mon, 04/25/2011 - 05:44 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

Congrats Jolie... You get it and those that posted above you do not. It will be hyperinflation because the elite (easy money folks) are closest to the printing press and their aim is to outrun you, not the bear.

Excellent post you linked to.

Mon, 04/25/2011 - 04:58 | Link to Comment Moe Howard
Moe Howard's picture

The banks are a tool for the Rothschilds. You can always get a new tool.

Mon, 04/25/2011 - 05:42 | Link to Comment zhandax
zhandax's picture

Look BothCheeks, it has to be the right people.  I will trade you a hundred random fucktards off the freeway for an ounce of silver any day of the week.  And unless it is a really slow news week and 60 minutes desperately needs a story, no one will miss them.  Least of all TPTB.

Mon, 04/25/2011 - 12:13 | Link to Comment FeralSerf
FeralSerf's picture

It doesn't have to "be the right people".  TPTB's flocks includes that hundred random fucktards.  It also probably includes you.  One must take the bitter with the sweet in this case.  Fucktards are culled out as necessary.  The process is not altogether efficient though.  The sheep aren't traded exactly like the slaves in the markets of yore.

Any silver or gold the sheep bring with them are considered to be property of the Flock Owners as well.  They don't like it when one of the sheep decides to go feral with some of that wealth.  It is the job of DHS and TSA to make sure that random sheep don't leave the pen with some of TPTB's gold or silver or valid with claims thereon.

Mon, 04/25/2011 - 05:05 | Link to Comment D1eeeeeNAHHHHH
D1eeeeeNAHHHHH's picture

I don't agree with your original position on your first post, however I see what happened in Germany where a few smart rich people are scapegoated (Ie. Obama last week scapegoating oil speculators while he wages war in Lybia while on expensive vacations in South America with his family) and thrown to the wolves happening yet again.  History rhymes. 

To add to your position I believe many people boasting large assets will get them robbed, ransomed or killed in more ways than people who find new wealth can imagine.

Selling or trading small amounts of silver here and there may be fine, but if silver isn't as liquid as canned foods, cigarettes, alcohol, bottled water or meat, you may feel like you're on Gillian's Island as the Hathaways.  You'll end up being dead weight and more often than not in the way of others.  You can promise wealth once everything is back to normal, but few will believe you. 

The sad reality is, no one will be coming to save us on our island, if anything, the world will be coming to enslave us in the next big one (war).  The Hathaways (hoarders) better diversify into other tradable goods and skills over time. 

Small engine repair shops will become popular, bicycle repair, survival teaching, etc.  Farmers will be wealthy, real estate owners may not be allowed to collect rent or will have rent caps, silver holders are a wildcard, gold holders will have even a bigger risk (do you really think someone will be able to change a $2500 gold maple leaf for $250 in groceries?)

Diversify out a bit and learn a valuable skill if you haven't already everyone. 

 

Mon, 04/25/2011 - 05:14 | Link to Comment goldenbuddha454
goldenbuddha454's picture

In the late 70's early 80's there were price caps on alot of basic needs items like fuel.  That will happen again, soon.  IMO

Mon, 04/25/2011 - 11:30 | Link to Comment FeralSerf
FeralSerf's picture

Yep, it happens just about every time.  Next comes a thriving black market.  Next comes exchange controls.  Next comes more cops.  And we live happily ever after (not).

Mon, 04/25/2011 - 05:12 | Link to Comment ViewfromUnderth...
ViewfromUndertheBridge's picture

"mmake mine an old-fashioned, luvee"...Thurston Howell III

(Miss Hathaway was Mr Drysdale's secretary on Beverly Hillbillies)

and if we are voting I always preferred Mary-Anne over Ginger

Mon, 04/25/2011 - 07:14 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

My vote is Mary-Ann and Ginger. You young bulls!

Mon, 04/25/2011 - 05:49 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

PMs best use is not to be squandered in a crisis on everyday needs. PMs best use is as a bridge over the crisis, to be invested in the 'new economy' on the far side of the crisis.

If you don't understand this then you don't understand, or need, PMs.

Mon, 04/25/2011 - 09:53 | Link to Comment Founders Keeper
Founders Keeper's picture

+1

 

Mon, 04/25/2011 - 11:59 | Link to Comment RockyRacoon
RockyRacoon's picture

You would be correct.   The statement that you can't exchange a gold coin for groceries is the old "you can't eat gold" argument in different clothing.   How I tire of that.

Mon, 04/25/2011 - 05:58 | Link to Comment bothsidesnow
bothsidesnow's picture

Great post and good advice. I was a wildland firefighter for 15 years (many hours of rebuilding chainsaw engines) so I have the survival skills and I was raised well raising chickens so I have the farmer blood also. Unfortunately I live in urban area at this moment. But I'm not afraid I'm prepared with economical means of transport and independent yet small power supply. Food is my only concern but I have a good stash of fly-tying material and an ample supply fly rods for that can be used in the from the ocean to the smallest mountain stream. I certainly would be able to teach people how to catch fish.

We shall see what happens.

Mon, 04/25/2011 - 06:19 | Link to Comment EscapeKey
EscapeKey's picture

If you were a firefighter, then you should be well prepared when your portfolio starts suffering heavy losses from your PM positions.

Mon, 04/25/2011 - 05:34 | Link to Comment EscapeKey
EscapeKey's picture

Inflation was already running exceedingly high before reparations kicked in, they were just the final straw.

Mon, 04/25/2011 - 06:52 | Link to Comment Moe Howard
Moe Howard's picture

The final payments were made on 4 October 2010.

The Banksters don't write off shit.

Mon, 04/25/2011 - 06:55 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

"The final payments were made on 4 Oct 2010 in NOMINAL CURRENCY which had far less purchasing power"...there, fixed that for you.

Mon, 04/25/2011 - 08:34 | Link to Comment Terminus C
Terminus C's picture

You get your historical direction from Mein Kampf?

Germany was not "tricked" into peace... and if they were... tough shit, if you are in a war, it's not about fair.

Germany was tired, mostly beaten and unable to win.  Their generals knew they could not win, though they could make final defeat very costly for all sides.  They took a gamble that Wilson would have enough influence to moderate Lloyd George and Clemenceau.  They were wrong.  France and, to a lesser extent, Britain wanted blood.

There was no sympathy for the Germans because of the Treaty of Brest-Litovsk in which Germany expropriated vast areas of Eastern Europe from the Russians in 1917.

 

Mon, 04/25/2011 - 04:06 | Link to Comment knavechild
knavechild's picture

Talk about hyperinflation. The higher silver goes, the more I need to up my whiskey intake to deal with the situation.

 

Mon, 04/25/2011 - 04:15 | Link to Comment adeptus
adeptus's picture

I think they call that intoxication, not hyperinflation. But I can understand how the two might go together.

Mon, 04/25/2011 - 04:17 | Link to Comment werealldoomed
werealldoomed's picture

Hyper-intoxication.

Sip the fucking dips sheeple!

Mon, 04/25/2011 - 05:51 | Link to Comment zhandax
zhandax's picture

the more I need to up my whiskey intake to deal with the situation

Switch to beer and save the cans.  Built in inflation hedge.  The worse it gets, the bigger the payoff.

Mon, 04/25/2011 - 06:25 | Link to Comment johnnynaps
johnnynaps's picture

Beer bugs crack me up. The percentage of alcohol is nil in comparison  to whiskey and hard alcohol has a much longer shelf-life than beer!

Mon, 04/25/2011 - 06:54 | Link to Comment Moe Howard
Moe Howard's picture

Beer is bread in liquid form. Bread in a can that you can drink.

Mon, 04/25/2011 - 07:28 | Link to Comment destraht
destraht's picture

tions and isms are the root of all evil.

Mon, 04/25/2011 - 04:06 | Link to Comment adeptus
adeptus's picture

Newsflash: The hunt brothers top WAS taken out tonight. $48.70 was the top in 1980. Tonight we saw $49.70
http://en.wikipedia.org/wiki/Silver_Thursday

Mon, 04/25/2011 - 04:23 | Link to Comment LeBalance
LeBalance's picture

1/18/1980: London Silver Close :: $49.45

Mon, 04/25/2011 - 04:32 | Link to Comment bothsidesnow
bothsidesnow's picture

And the big bag holder from 30 years ago quietly handed over the bag on an illiquid Sunday night.

Mon, 04/25/2011 - 05:35 | Link to Comment EscapeKey
EscapeKey's picture

Oh ok, so you're the new anti-PM flavour. I hope you enjoy your stay, until you "disappear" in about 10 weeks time from now, only for some new anti-PM flavour to suddenly emerge.

Mon, 04/25/2011 - 05:51 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

Trolls come and go. PMs are always with us... thankfully.

Mon, 04/25/2011 - 07:41 | Link to Comment Ricky Bobby
Ricky Bobby's picture

"bothsidesnow" filling in for Spalding_Smells. He has the grave yard shift. Disinformation campaign, sockpuppets, and lies. Confirmation this move is going historic.

Mon, 04/25/2011 - 04:57 | Link to Comment spdrdr
spdrdr's picture

Those $30 June puts are looking sweet!

 

O.K., O.K., I'll put the /sarc tag on for you lot !!!

Mon, 04/25/2011 - 04:11 | Link to Comment gurkha108
gurkha108's picture

cotdamn!  I shouldn't look at this shit before bed...  Told myself last week to wait until Tuesday to commit 5 figures again...seriously questioning that now.

Mon, 04/25/2011 - 04:14 | Link to Comment spdrdr
spdrdr's picture

You and me both, Ghurka!

I was expecting a thin-trade slap-down which I could trade against (buying hugely) on Tuesday.

Not a fucking chance.  This is surreal.......

Mon, 04/25/2011 - 07:31 | Link to Comment destraht
destraht's picture

I have an extreme advantage in regards to you in that I am trading with almost no money so my psychology is easier to master.  If things stay smokey hot I will be up 50% in two hours from a 3 day investment.

Mon, 04/25/2011 - 04:13 | Link to Comment adeptus
adeptus's picture

Ok, I think I found out who just tried to corner the silver market...

http://i55.tinypic.com/4l24k.jpg

... Apparently, they forgot to include the Hunt Brother's pet in the 1980's lawsuit.

Mon, 04/25/2011 - 04:14 | Link to Comment The Navigator
The Navigator's picture

Silver been berry berry good to me.

Sometimes you just get lucky in life and sense these things a little ahead of the crowd. 2007 @ $10 and $12 per ounce - don't know why, but I (thought I) saw the writing on the wall and that the only way out of this tremendous debt was to print fiat like a madman. Sometimes you just get lucky.

Problem today is, I'm still buying - all forms of silver are just so pretty; old junk coins, bars, pamps, Morgans, Chinese Pandas, Aussie mint coins,.... Local coin shop, ebay, APMEX,......and every time I buy more, the price goes up another $5. 

Mon, 04/25/2011 - 05:00 | Link to Comment SME MOFO
SME MOFO's picture

Long like a mofo.  When we get to 50 this morning, I'm a gonna hedge this off with a tighty whitey dec put position.  Then I'm going to drink for the next four months.  So I guess that means now I need to get long chips and dip. BTFD

Mon, 04/25/2011 - 05:38 | Link to Comment Moe Howard
Moe Howard's picture

I have a paper sign on my desk at work: I buy silver.

Mon, 04/25/2011 - 05:46 | Link to Comment capitallosses
capitallosses's picture

I hope its written on a FRN!

Mon, 04/25/2011 - 06:00 | Link to Comment Fantasy Planet
Fantasy Planet's picture

Be careful posting signs at work.  When it hits the fan in your co-workers' heads some may come looking for you outside of work. 

Mon, 04/25/2011 - 06:59 | Link to Comment Moe Howard
Moe Howard's picture

Zombie elimination is my true profession. Bring 'em on.

Mon, 04/25/2011 - 08:58 | Link to Comment Long-John-Silver
Long-John-Silver's picture

I just took the Labor rate sign down in my shop and put a new one up.

Labor rate is 2oz Silver per hour.

10% premium over spot Silver for Dollars.

We do accept Gold as well.

Mon, 04/25/2011 - 10:36 | Link to Comment Anonymous Hand
Anonymous Hand's picture

I did this (very similarly, almost exactly) last week in my shop. (I'm in a major urban center.) It is seriously upsetting to people to think that their dollars are unimportant. People are offended by the idea that my prices are based in something other than dollars.

I think I'm doing them a good service by offering this wake-up call.

The pain and complaints have been very loud as the price of silver went up an extra dollar every day. I hope my service is vital enough to them that my pricing can stay steady. As the economy contracts and deflation (Real Deflation) sets in, it will be painful for me to reduce my service rates to 1.5oz/hr and below... if only because most of the silver I see is in 1oz rounds!

I guess I need to start buying some copper to make change... or start cutting 1oz rounds into pieces of eight...

Mon, 04/25/2011 - 04:12 | Link to Comment dr.charlemagne
dr.charlemagne's picture

I am long Silver, but the implications of this are frightening.

Mon, 04/25/2011 - 04:16 | Link to Comment Akrunner907
Akrunner907's picture

So when do we move through the precious metals market and into the ammo market?  I am guessing by October.....

Mon, 04/25/2011 - 04:44 | Link to Comment capitallosses
capitallosses's picture

If you haven't started already, you're a fool. CheaperthanDirt.com seems to have pretty good prices.

Mon, 04/25/2011 - 05:07 | Link to Comment Moe Howard
Moe Howard's picture

Pb purchases should have been completed at least a year ago. Unless you are buying for resale down the road. Delivery devices will soon drop in price as the market will be flooded with National Guard M4's - never fired, only dropped once.

Mon, 04/25/2011 - 05:25 | Link to Comment capitallosses
capitallosses's picture

We have Frenchmen in the National Guard now?

Mon, 04/25/2011 - 05:46 | Link to Comment Moe Howard
Moe Howard's picture

I suspect the 7-11 clerks of America will not fire on their neighbors and families. Although I could be wrong. The highest ranking officers have already proven they don't give a flying fuck about their oath to support and defend the Constitution. The latest TRADOC manual is suggesting the Army's mission is to defend human rights around the world, and not the borders of the United States. That Constitution Oath thing is so 20th century.

Now if I remember correctly, officers from defeated countries that committed war crimes during WWII were not allowed to give the defense "I was ordered to do <fill in the blank>".

I can see the questions now - "What part of the Constitution and War Powers did you not understand, General Suckup?" Followed by hanged by the neck until dead.

Mon, 04/25/2011 - 05:55 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

This is not Mad Max. For a snapshot of that you need only to peruse the history of the French Revolution...and you need to understand WHY the soft money Frenchpeople slaughtered the hard money Frenchpeople.

All we are witnessing here is a collapse of another fiat currency... happens all the time and without Mad Max showing up. But first, we will witness hyperinflation and more fiat printing than you can imagine. Got PMs?

Mon, 04/25/2011 - 07:17 | Link to Comment Moe Howard
Moe Howard's picture

The US Government using troops against the people is not Mad Max friend. I invite you to read some United States history. It's not always about money up front, either, although that can be debated. Got Kent State? I hear there were NG helicopters at Waco, too. And where did the FBI get tanks from? We have lived through these things, and yet failed to recognize them for what they were.

I don't disagree on the fiat currency thing... I saw Mad Max plenty of times back in the day, it is the least likely outcome for the USA. Somalia is the real world equivalentof Mad Max. We in the USA are more likely to have our own version of East Bloc Socialism. After all, the government under Fannie/Freddie already has possession of most of the homes in America, just like the East Bloc.  I suspect hyperinflation will not suit thier purposes, I think they will take down the stock market to drain liquidity again. Money will flee to something else, and they will take that down as well. There are not enough PMs in the world to provide a shelter to the independant big players.

However it ends up, you can be sure the common man will be the loser.

Mon, 04/25/2011 - 07:46 | Link to Comment Ricky Bobby
Ricky Bobby's picture

"Your Papers, your papers please"

Mon, 04/25/2011 - 12:54 | Link to Comment FeralSerf
FeralSerf's picture

Papers are so 20th Century.  Ve haf electronic means to determine your right to survive now.

Think computerized Stasi.

Mon, 04/25/2011 - 10:39 | Link to Comment Abiotic Oil
Abiotic Oil's picture

Bonus Marches = Eisenhower, McCarthur killing veterans.

Mon, 04/25/2011 - 04:16 | Link to Comment Lord Welligton
Mon, 04/25/2011 - 04:19 | Link to Comment Lord Welligton
Mon, 04/25/2011 - 04:22 | Link to Comment nhsadika
nhsadika's picture

I think we need to look at the possibility that silver is going to go up, because of many factors including supply/demand...but that this does in and of itself the death knell of fiat.  If a small multi-billion market of NYC land was being bid up it would not spell the end of the US dollar (even if it was bleak looking from a few perspectives).

Suppose silver and gold skyrocket from here, do you think that is going to spill over into everyone cashing out their banks accounts and hording physical things of all sort...doubt it!

 

Mon, 04/25/2011 - 04:28 | Link to Comment Lord Welligton
Lord Welligton's picture

My two cents.

I think the problem is that with the Dollar as reserve currency and with all commodities priced in Dollars a sharp and permanent rise in Gold and Silver will drag up the Dollar price of all commodities.

If "people" see Gold and Silver as being permenanatly higher in Dollar terms Gold could be used to buy commodities on a bilateral basis.

The Dollar price of commodities goes up.

The USofA suffers serious inflation.

Mon, 04/25/2011 - 05:58 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

LW... Read this. However many times it takes to comprehend it thoroughly... You will benefit from it...

http://fofoa.blogspot.com/search?updated-min=2011-01-01T00%3A00%3A00-08%3A00&updated-max=2012-01-01T00%3A00%3A00-08%3A00&max-results=23

Mon, 04/25/2011 - 06:11 | Link to Comment Lord Welligton
Lord Welligton's picture

Thanks.

I have saved it.

Obviously no comment as yet.

Mon, 04/25/2011 - 04:22 | Link to Comment capitallosses
capitallosses's picture

Can someone help me here? I keep hearing about J.P. Morgan's shorts. What does this mean? Are they crapping in them? Losing them? What does J.P. Morgan shorts mean? Thanks for your help.

Mon, 04/25/2011 - 04:48 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

JP Morgan inherited a gigantic silver short position from Bear Stearns. It is now eating them alive.

Mon, 04/25/2011 - 04:48 | Link to Comment HyperinflatmyNutts
HyperinflatmyNutts's picture

Naked short!  run banksters run

Do NOT follow this link or you will be banned from the site!