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Goodbye $42...
Silver is now trading at $42.10: the highest price since 1981, and ever closer to the all time Hunt Brother high, which is now just over $8 away. At this rate, and if Bolivia indeed nationalizes its silver mines, we give it a month for a new all time notional high in the metal.
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Gold is a better measurement of maintained purchasing power. Silver, being so manipulated, has out paced inflation and purchasing power in silver has increased.
Vas Deferens, sorry buddy. I think you probably need to catch up on your GATA reading... there is a significant amount of evidence (and proof) that gold is being manipulated downward. Probably more so than silver in fact. Go do your homework. One of the few explanations for how this could be done for so long is that the US govt gold is in fact being sold off.
We know for a fact that a large amount of gold has now been tungstenified. What we don't know is who's vault it sits in... Ft Knox is a primary suspicion.
+1
Does that include gold lame smoking jackets?
You've increased your purchasing power with silver. Try pricing silver in gold.
Yeah 35:1 is a pretty ridiculou ratio that I honestly didn't think we'd see til 2012 or so... shit's crumbling. Like Krieger and Faber have said, it probably won't be a quick collapse like last time, but it will be a long, painful, continuous collapse.
no, debtless, you're wealthy. there's a difference.
me too! hahahaha!
Ain't got nuthin on the REITS.
Naturally, those just went fucking ape shit vertical again today...all day...non-stop. They are the only financial instrument that never ever goes down.
Maybe some commerical real estate plated in silver is the route to guaranteed riches.
Goodbye GOOG!
Clearly Google did not swallow any silver recently. I think Google only eats photovoltaic cells. Not good.
Never mind if the entire world uses Google, and never mind if Google owns the Internet...tonight, Google is not silver, so down into some algorithmic maze it goes...courtesy of the criminal syndicate known as Wall Street. Have fun Google "investors."
P.S.
Money McBags is NOT going to be pleased in the morning...but it should make for a great post!
Money McBags is already upset, that's why he didn't post today. But it's because of this.....
http://www.ricksinvestor.com/290/pressrelease.aspx
You know, I heard about a trader making a big gamble and buying $1,000,000 worth of July 25 puts (sarc)...
Possibly a hedge or possibly a $1M spent to shock the bullion price down in the thin after hours trade as the last shot of that day's massive volume take down effort. Could be it was effective enough to allow enough covering to pay for itself.
Speaking of thin afterhours trades, guess when silver hit its highs this week. Both after the pit and after regular equity session closes.
Coincidence?
No of course not. Only manipulated when silver goes DOWN, and fine when it goes up.
And reverse the last sentence for ES.
He still has 200K left and soon won't be able to sell any of them even if he would find a idiot who would do that.
That guy will now live 6 weeks with stress about something he should logically realise it's already over :)
Yeah, but if it was JPM and they covered a load of futures on the spike down after that story came out, they could have made more than the cost of those puts.
Once everybody and his cousin is in the long gold, silver and short usd boat - the tide will turn.
5-6 weeks - thereafter the tide will turn.
But the lemmings will continue to buy all the fucking dips and FUBM in expectation of 1600 - all the way down. The more things change - the more they stay the same.
You are one pathetic commentator and forecaster Hamster. Never can admit when you're wrong can you?
Indeed --- the more trolls like you harangue, the more everything they say is lame.
WTF? 2000 years says gold and silver IS money and FRN's are paper and paper is, well, paper.
Hamster boy,
weren't you just in my butt?
get back in there, would you!
I love my silver
My silver loves me
We are so happy
My silver and me.
+1
I love my family
My family loves me
We are so happy
My family and me.
I love my zero hedge
My zero hedge loves me
I am so happy
til you all junk the fuck out of me
get your hands off my junk.
Adjusted for inflation, silver is not even close to the Hunt Brothers high!
http://silvercointrader.com/2011/04/inflation-adjusted-silver-price-perspective/
Tyler left out the word NOMINAL, which is generally in his posts.
Won't get there. The gravitational force of Ben's fiat-o-matic is pulling the dollar down and silver up. On an inflation-adjusted basis, it's going to be worth what it is now - 10 gallons of gas (or 4 if you're across the Pond). Doesn't mean it won't get to $60, $80, etc. on a nominal basis. There will be ebb and flow on the purchasing power, but the bear-raids and profit-taking dips will scare the s.t. specs out.
At some point, the $ price becomes irrelevant...
Take 1955 for an example. Silver was .89 per oz. and gasoline was .23 per gallon. I'd say we are doing OK.
This takes some of the pain/rage away from the large checks I mailed to the IRS and Oregon Revenue Department today.
I went through that when I closed out the 401(k)'s and took the penalty. I went "all in" physical Silver with it back when it was $12 an ounce. Needless to say I more than made up for the penalties.
You know, it may be a little bit of work, but I rolled my Roth into a Self-Directed PM Roth. I am curious if you can roll a 401k into a Self-Directed IRA...?
I know you can roll 401(k)'s into physical Silver and Gold holdings where your physical PM's are held until you sell them or demand delivery. In both cases you are subject to the penalties or taxes and you are charged a vault fee. I don't trust them at all. How do I know they really have my PM's? If the SFTF how will I get my PM's because no one is going to be shipping anything for a few months and by that time I could have starved to death or met some other unfortunate end. Another question is what would be the tax liabilities tomorrow, next month, or next year? How about a full on confiscation where the government simply takes your PM's out of the vault and send you a nice letter thanking you for your donation for the good of the country. I took physical delivery and have secured my PM's where they would be impossible for anyone else except my immediately family or myself could get it (with great difficulty).
[I know you can roll 401(k)'s into physical Silver...]---Long-John-Silver
I agree. You have to think through it---use your imagination. You know "they" will.
you can, when you leave the job where the 401k was started. so just quit your job and you can roll it.
I used to go through the same thing. Then I moved across the river to Washington to escape the Oregon income tax. Let someone else pay for Oregon's socialized medicine and all the other welfare programs. Later on I just moved out of the country entirely, and took my business with me.
I am waiting till Monday to write my check out. And moving out is coming into our radar screen.
Me too. Fuckers. One more martini, and I'll probably forget all abou..................................
How you like us Silver bulls now Methman?
the bulls show up on bear days...so where are the trolls today???
Bitchez!
I'm getting worried...I had a 24 year old guy I work with, clueless on everything who doesn't have to pay rent cause he lives with his parents was saying how he was going to buy gold and silver with his next paycheck. It is his first investment ever, unless you consider buying a keg and a tap an investment
Meh, I've heard that at least 20 times. Talking shit about it, and putting skin in the game are two very different things.
It's all about mindshare.
It always starts off as water cooler talk. At some point, generally not long after, they start buying.
:)
wrong sequence in your story :)
First silver needs to be bought mainstream. That still didn't happen.
I know some people who have "read" that silver is going up. That's it.
Most people still don't have a clue.
AND
We are in the eye of the storm concering the crisis. According to most, the crisis is over and we're doing better than ever.
Real dangerous inflation still needs to happen.
Rates haven't gone up
Deficits keep growning
...
Silver still needs to start to move up.
This is just the teaser.
I agree. We're only seeing the smart money move out of FRNs and into PMs. Once PMs begin to move up in earnest, it will grab everyone's attention and all of the fence sitters will be jumping in at $75 silver and $2,000 gold. That's when we'll see the push up in price much further and faster.
Funny how we see that so clearly and others never will?
The Johnny Bravo/Math Man/Spalding crowd will never get onboard. They will curse it and bad mouth it the whole way up.
gimme forty three!
Silva baby, tease me mo',
honey blow my top!
It's OK to love your precious metals.
Just don't ... love your precious metals!
Just the tap is an investment.
Try and get beer out of a keg without one and see what I mean.
+5 LOL
Not everyone under 25 is completely clueless. I'm 25, living with relatives for various reasons, so my expenses are very low. I own my car and have very little debt that I'm paying down each month. Other than dropping out of college after 1.5 years, buying and holding physical silver is the best decision I've made to date. Good thing I didn't "stay the course" and graduate with an extra $25k in debt and the same job as I have now. Instead, I've built up some experience working and reading sites like this one, Mises, Lew Rockwell, etc for my education. I'm also not tied down by crazy student loans, credit card bills, or kids. I didn't make those mistakes in my early 20s, and it's paying off now. So many of my peers graduated with $50k+ in debt and work the same type of job as me. They also have their own house and a kid or two...they can't afford it but keep hoping for something to change.
Trust me when I say I am 1 in 10,000 or more that is age 25 or under that actually owns PHYSICAL silver and is still buying regularly, all the way up and all the way down if it takes a (temporary) dip. No one has any clue, money, or interest in buying silver Eagles. They all think I'm an idiot for paying $7 for a pre 1965 quarter, and even dumber for buying nickels. They can all kiss my ass.
I can say for a fact that silver is nowhere close to mainstream, especially among my age group (I have an 18 year old brother, maybe I'll quiz him on the price of Eagles and see if him or his friends know, lol). I talked to one girl at my work who is 22, and said she wishes she had some gold but can't afford it. I tried to talk to her about silver but she was going on about how hemp should be legal and the CIA is a big scam. Every time silver breaks another $1 barrier I text my friend who owns a small amount of oz just by buying an eagle every year and some random junk silver maybe twice a year. I keep telling him to BTFD but he thinks we're fine and it's just a phase and silver won't skyrocket. Everyone else my age is busy trying to just hang on from paycheck to paycheck. Yet they are always out at the bar, or at the casino, or buying new $100 shoes. No wonder they are completely broke. I try to explain it a few times to people I know/see at work but after a bit I just give up, fuck them for not paying attention, it will suck to be them but I warned each and every one.
A lot of people "wish" they had bought gold, but "can't afford it" now, such as my grandfather or that girl from work. They think gold is "too expensive" while I try to explain, ala Mark Faber, that gold is probably cheaper now than ever, and it's just the dollar that is tanking that makes it cost more. Little do they know that silver might just be the next gold, and they will yet again regret passing up the fine opportunity.
LRC, you are an inspiration to us all!
Sadly, though, I suspect that you are close to being correct in your 1 in 25,000 assessment.
Thanks, glad I inspire you, and hopefully you BTFS(ilver) and hold!
And yeah, people are in for a very rude awakening in due time.
LRC
Don't give up on enlightening others. Like Winston Churchill, never give up.
I got my dad to buy some eagles back at $19.50 each, and a friend from work as well around $15. But they only bought that one time. Some people truly are hopeless, and it's a shame but it's like an alcoholic; you can only help those that truly see a problem and want the help. And the line of thinking that is "everything always comes back, the markets always go back up, etc" really is a sickness.
Another fun fact is that about 6 weeks ago I scored a bunch of 40% and 90% silver halfs from various banks at face value! My family thought I was a bit nuts when I came home with $700 worth of halfs in a beat up cardboard box, and then I hit it big with about $100 face in 40% JFKs! My grandparents were a bit amused but my uncles told me to stop wasting my time. I just walked away and shook my head.
Wow. So I suppose that if they saw a $100 bill lying in the street (or several of them, in this case), they would just leave them lying there?
Damn, that is a fine! I used to ride my bike a mile and a half to the bank back in the later 1970s just to get five rolls of halves to cull through, on the off chance of finding two or three silver halves.
I hear you LRC. I'm 28, convincing people twice my age the merits of having money with intrinsic value. The best way I've found to get someone to buy is go to the store with them or combine and online order "to save on shipping".
If only I could convince my yuppie sister that money isn't evil and that it's powering to have wealth....
I've taken to payingmy kids in Morgan Silver dollars for their various chores. Last year I could only get my youngest to take the bait. But after his subs saw that he had doubled his money without having to do any more work, they've happily joined in the work-for-silver camp.
Best thing is that the works getting done, and none of the kids wants to sell their silver.
LRC Fan,
You can help yourself and them at the same time by swallowing any pride and asking for a friendly FRN loan from ALL of them.
Invest it in AU and AG, then, as the world prolapses, give them back a portion of their loan in Silver or Gold and take your well deserved cut.
"They can kiss my ass"......
I suspect the day will come when they actually WILL. Stay the course, youngster, your head is in the right place !
Haha... brilliant.
I'm 22 and I bought my first 50 oz at $22/oz, then bought another 20 oz at $25 ... then I realized the more research I did, the more I wish I had. I got out of credit card debt, started double paying my car payments to get a lower minimum (got it down to $300 or so) then I started saving $ for the dips. I've since acquired on average 20 oz/month and I will continue to until I can't.
I agree but I think it's more like 1 in 100,000 < 30 years of age. I don't think anyone under my age has a clue. My girlfriend excluded, I've told about 20 people I know and close friends included. None of them besides me have purchased silver, now that I have plenty (and still buy more) they're starting to understand that, when they decide to buy because their neighbor's doing it now, it will be much, much too late.
Keep buying people. Don't let this bull kick you off either. There will be ups, there will be downs but there will come a day when no matter how much "money (fiat currrency)" you have, you won't be able to afford it.
I hate to burse everyone's bubble but the stupidity also goes on well into the 30's and from my experience with the next couple of generations older it's not much better, the real old timers are probably the only ones seeing the writing on the wall.
Trust me.., a lot of them don't get it either. It has nothing to do with age, or if you're a dem or a repub, nor does the color of your skin mean anything. If you went through life listening at least as much as talking, you stand a good chance of being among the few that get it.
Agreed.
Some of my friend's parents who are retired and considerably
well off are not into PM's.
They tend to bring up some friend getting burned during
the 80's gold bubble.
I think alot of people of that generation still have that
experience in their heads.
We are in same boat. I am 25 y.o. I took the "red pill" in 2008 by reading Ron Paul's Revolution: A Manifesto. Since then I have dropped out from the 3rd year of a Keynsian/POS/ IS-LM-up-the-neck econ program and instead have been studying Austrians. I have been a holder and regular purchaser of physical silver since spring last year.
I deal with a couple of late 20s coin dealers, so they are in the loop on the environment. Other than that, people are totally clueless, so I second you on that. So far, they are just noticing the food and gas prices go up. However, the herd has not figured it out yet (who knows if they ever will) and I laugh roaringly at anyone who says that PM's are in a bubble.
Same "red pill" here.
9/11 videos on YouTube was getting chased by squidies for the first time.
Bravo to you youngins that have a sense of awareness of WTF is going on. The rest are like the frog in the pot. They don't know it, but the fire has been lit. Age etc. has nothing to do with it, you either get it or you don't.
Ya know I’m 55 and get the same shit from my friends. They won’t listen to conmen sense and put some FRN’s in PM’s. a lot of them say they can’t afford gold when $100 fo gold cost the same as $100 of silver. And then I hear the lame excuse of it’s to late the price is to high but its all relative get on the train now and go as many stations you want.
PM’s will go to the moon
Ask them then how much of their savings they can "afford" to lose to currency depreciation and possible currency collapse.
You summed up my life just about to the-T there LRC fan.
Other than dropping out of college (although I have no debt unlike my friends). Keep up the great work educating people. I will never give up as I do not wish for my future children to grow up in a 3rd world fascist dictatorship.
Regards
kid, you're one in a million
these sheep have no clue; and your right, its a waste of time talking to these folks
i had a neighbor who keeps saying he's planting a garden, and never does. what he does have is lots of cash in banks, and this will be walking around money for the banksters and military industrial complex
like i said, they have no clue
more important than metals is food and personal security, and that will not be an easy nut to crack no matter how much money you have
younger folks like you give me hope, and hope is just as important as pm's and all the rest
There should be Thumbs-Up button because you would get a bunch. Awesome, dude!
Pep talk to the 'Fast Money' Traders in the green room before the show:
'Okay, guys, GOOGLE is tanking in the after hours, we need you to put on happy face and get out there and tell everyone why it doesn't matter and it's a great time to BUY, BUY, BUY. John Nagarian, Tim Seymour... you'll run point on this as always. Do your thing, Tim - talk as fast as possible and throw out as many arcane, useless facts as possible... as you know the majority of our audience is 70+ and they'll get confused and probably buy.
Remember... happy face, think positive! It's up to us to keep the charade going. And Guy, we know you don't have experience as a used car salesman as Tim and John do, and understand that the market is completely rigged, so just keep quiet and changed the subject when we ask you anything. Okay, go team!'
Ahhh, yes, good news for silver....
should have bought the ****ing dip LOL
There's a dip tonight in Pan American Silver Diver (PAAS) that you can buy. ;-)
Jeezo.., NO CHIT!!
And to think I almost pulled the trigger on that yesterday. We aren't safe anywhere.
$42.18. Where's mah $43, it's been 30 minutes already, what's the wait?
Will retire at the ripe old age of 40 soon. Glorious.
three decades ago
sold silver at 42.12 $
really conflicted here ..
Inflation adjusted that was 500$ now.
No need to be conflicted yet. Wait another 460$ and then sell if you want.
we few, we happy few, we band of silver brothers.
How silver-sweet sound lovers' tongues by night,
Like softest music to attending ears!
to be, or not to be; that is the question.
Silver Fidelis
And Semper Fi (USMC here)
So how much higher will AG have to go to get JP Morgan to cover their 25,000 COMEX short contracts which equal 125,000,000 troy ounces of silver? They are FOCKED!
deFOCKED!
Disagree. Ben Bernake will just increase their dollar holdings by $5.375B at 0.000005% interest with the click of a button. JPM will be just fine.
25k contracts at 5k oz each at $43 / oz = $5.375B Bernake wouldn't even blink.
$42 a ounce silver went weeks ago. Look at Feebay, people are already willing to pay well north of $50 an ounce today. The paper price will follow.
It's way too cheap for what it is. Plus the powers that be have created such a crooked corrupt system, there are no alternatives for the working man to store his and his familys wealth, gold and silver it is... suits me fine.
Just think what you can do with 42 dollars.
And think what needs to happen before a bullion coin is delivered to your door.
Mining, processing, logistics, sales... it's just way to cheap.
$42 = 4 beers at a Nats game.
And that's if I don't tip the bitch.
Just think what you can do with 42 dollars.
Pay for about 1/2 hour of a mechanic's labor at an auto repair shop?
why don't they raise the margins?
When in the hell will SLW catch up... When silver was at $36.5 it was at $46 and now that silver is at $42, SLW is down to $43... It has no risk in oil or costs going up... Waiting for it to rocket up. Hopefully before silver goes soft when the mkt gets hammered... Then reload and ride it to $100!
Yeah, really!
Just in the last five months, SLV has outperformed SLW by more than a factor of two! WTF? Utterly shameful.
The miners are gonna be stuck until the ETF bubble pops. Then they will run. All the people that hold those paper ETF's will get their money as of the value the day the bubble pops, maybe 6 weeks later. During that 6 weeks the moonshot will happen and they'll all be crying, as they will have completely missed the big run up in silver. This is exactly the reason for the ETF's existence, to divert money from the mining stocks. I sold all my miners and bought..... you guessed it!!
I've been pulling my hair out over SLW the past few days for the same reason. I sold all my other underperforming mining shares and put it all into SLW back in August. The plan was to sell it all around June assuming that there would be a correction shortly afterwards, and buy physical with the proceeds. This doesn't really change that timetable, but it's still annoying as hell.
We need the sheeple to PTFR = Purchase the F'ing Rampup!
Guys like John Hathaway must be pulling their hair out.
My prediction is that they dump these miserable mining stocks, close down their funds, and then tell their client to go invest in physical silver and gold, or maybe even REITs or other Fed-sponsored sector.
They are probably at their wits end, seeing GLD and SLV rocket to new highs and the gold stocks act like they have dead weights attached to them.
still projecting your gloom and doom on successful investors. i guess it's natural given your poor performance and human nature to blame somebody else for personal failures. nevertheless, it's probably wise you close up shop trading the market and get the first available job.
Damn, beat me to it--except you didn't, my post was a minute before yours.
Weird.
lol. great minds think alike.
What do you think tmosley, dip in 3rd week or fourth?
Who knows? Everything is nuts.
I will stick to my plans this time (having been burned the last two times I deviated), and buy the last day of Opex, or the day after, no matter what the prices are before it, meaning the 27th at the earliest, and the 28th at the latest.
http://en.wikipedia.org/wiki/Psychological_projection
http://en.wikipedia.org/wiki/Normalcy_bias
And the Catfish speaks from on high once again.
And true to form, speaks bullshit and nonsense.
Calm down. Bernanke and Geitner's President's Working Group on Financial Markets wants to keep gold low so to keep silver low so to keep oil low to keep the dollar treading water. Very simple stuff, really. The Market is corporately controlled by this and that entity, your "pigmen" if you will. They want the game to continue, and that means slowly inflating precious metal prices, as they do use them for leverage; their first loan of recourse. Thus why fourteen and a half tonnes of "gold" (or rather tungsten) sits on the shelves of various vaults, Fort Knox, the NYFed, and others. Yet if the price appreciated too rapidly, the world over may know the truth: precious metal is the definition of monie, whereas fiat, due to it being backed by bonds as good as IOUs, lacks a necessary metric-the "store of wealth" category. So, Robo, this is how the game has worked, but now as the left and right argue over how many food stamps JP Morgan will be able to sell, and how much taxes are to be raised, maybe, just maybe, the rest of the world, a starving and impoverished population, decide they have had enough of this facist regime, and end the cycle.
Of course, there is one solution, and it is for each individual to take matters into their own hands, and buy precious metal.
While I agree that the Fed et al are a scam...but show me proof that tungsten is used rather than Gold? Tungsten is the heaviest natural metal so I find it hard to beleive. You can prove to me otherwise....
http://www.google.com/search?hl=en&source=hp&q=tungsten+zero+hedge&aq=f&...
Pb, Au, Pt, Hg, Po, U are ALL heavier than tungsten (W) -- perhaps you meant to write "harder"?
SLW is being held down by the predators-that-be, along with a few other highly visible precious metal producers. This is being done by the same suspects manipulating the silver and gold markets, and for the same reason. This is grossly unfair in the short [and medium] term, but when the lid blows off this sucker (the precious metals manipulation game), the sky is the limit, and SLW will do very well indeed.
Yep. Eventually we'll see some good premium buyout offers on certain companies. The premiums will look good to long-suffering investors but even with the premiums the prices will be ridiculously low based on present value of the resources. That's one game afoot here, imho.
Maybe not. I am wondering why there have not been any M&A specifically in the silver sector. I think that the premiums for silver companies will shock people. Eventually, maybe not now but in a couple of years, I think even the gold companies will be buying up silver companies. Just look at a few of the last purchases by Kinross and Gold Corp. specifically. The investors were crying foul. In a couple years they will be happy as hell. And Gold Corp. has over a billion oz. of silver too. Another reason to get into Gold. Corp. IMHO. There are a few other gold companies loaded with silver too.
As soon as the central banks, sovereign wealth funds, governments, and pensions start buying silver then we will have arrived at the point just before the mania starts.
Assuming, of course, that the US Govt doesn't nationalize the miners and their assets. For the good of "the children," you understand.
Yeah, that will be an interesting soundbite.
"Because gold is a barbaric relic and of no significance or importance whatsoever, we must nationalize gold and gold miners to save the world".
Hahahahahahahahahahaha.
They may do what you say, but that'll be one of the biggest self-contradictions and transparent whoppers in a long, long time.
The streamer has been red hot; however they are the second level of proper wealth. The blokes that get deep into the provider of wealth are key.
The move is on to Silver miners in safe zones Alexco Resources AXU up
11.5% today. mines 100% in Canada. As safe as it gets.
Auranca corp. another one up nice with mine in Texas.
Silver upward and onwards to $50.
Deep Thought ... 42
Hey Blythe, what was the question?
Telepromter in Chief hit a record high disapproval rating on Gallup Today.
50% dissaproval.
For the first time he is seeing a massive drop in the Black approval ratings which has consistently been 90% for 2 years now. Recent weeks has seen a drop to 80-84%.
http://www.gallup.com/poll/124922/Presidential-Approval-Center.aspx
About time.
Worst President Ever.
Meanwhile no need to short banks or stocks just buy metals it has the equivalent result.
Yeah, that Black Panther guy seemed to disapprove with attitude.
Federal judges are awarding 100 million in facebook shares instead of cash for judgements. At this rate they are legally defining just about anything as legal tender for repayment of debt and settlement of civil contracts.
We'll have limited edition farmville 2 dollar bills and second life checkbooks before long.
Oh the sound of a squid hitting the pavement after a 30 story fall, lmfao.
Boooooyaaaaaa Banksters.
Loading up on Physical again on your dime bankster bitches.
What about the white, black guilt crowd? Have they bailed already too? They way things are going, Obozo is going to loose the SNAPPIES (food stamp program) cockroaches too...
Here is a scenario :
AT 45 we could see a massive reaction from the GS/JPM mob. I've got this gut feeling they will make a big hedge play to short the Ag down to 35. Watch that move coming its in the cards. It will be linked to a commodity dip in oil. Two way whammy. If it comes, $ goes up wicked and euro plunges. All power play based on false mirrors. But they can do it if they have the backing of some big ME/Russian interests in a commodity carry move. Its coming, the big players are going to unleash on a narrow market like Ag and a glut market at WTI Cushing. Qatar is going to move ongoing, 1 mb of Libyan oil into market. That may be the signal to trigger this contrarian blitzkrieg. Achtung, achtung!
Is this a real possibility, I wonder...
Physical delivery will truncate any correction. I believe they just a put serious effort into a coordinated commodity takedown and got it stuffed, hard. It took massive selling to bet silver down -- a mere 5% or so and for just a few days??
As long as the Indians and Chinese are buying physical silver as fast as there hands can get the stuff, all the manipulations in the banksters bag of dirty tricks can have only a limited effect. But watch the mining shares. They still have more than enough power to kick them in the teeth.
@falak pema
Hope you're right about the pullback.
Papah dollahs await disposal!
Ag 4ever!
i'm still buying at these levels. just got some eagles in the mail. $42 might be / will be cheap, as mentioned this morning, if we get a 50 dxy print. that's my world view, and i'm sticking to it.
Going to be fun to watch this silver bubble burst.
you're right. the shorts are bursting. i feel sorry for them ... not.
Why beholdest thou the silver mote in thy brother's eye, and beholdest not the dollar/debt beam in thine own eye?
Nice +1
I think you meant to say fiat dollar bubble.
"Going to be fun to watch this silver bubble burst."
Remember these word's, BTFD.
Pop the paper and physical will just explode. Your in a short squeeze now. Get after it........
Cue CFTC margin limits to drive the price back down in 3,2,1....
Same story every time silver goes up big, CFTC steps in with margin limits and drives the price down for a couple days.
BTFD!
It makes sense for margins to be a somewhat constant percentage of contract value. It never has much effect though it can seem to when timed right and helped by a wave of bullion bank selling.
That is all fine and dandy. But this silver buying is the equivalent of a DDOS attack on a server. You can't stop it until you reboot the server (system). Anyway, they can have fun trying. It sure is the best movie I have watched in awhile.
Keiser is at this very moment rallying the troops of the SLA. Spreading the message. Hell, I think he even set up a direct purchase of some silver from Endeavour for the 1/10th oz coins that he will be giving away at rallies. Probably selling some too. The word is getting out about the GIABO. The problem is, it's working!!!!
I'll sell trade silver for gold as certain SGR targets are hit. It's fun pricing day to to day in fiatscos but gold pricing is reality.
I luz me some silber. I shorely duz.
$128.8925usd per 1ozt .999ag tops the Hunt cornerings. I see a 1ozt .999ag for 117.347765 Liters of light sweet coming down the pike.
OT
Joe Battapaglia died
No way! Really? I'll always remember him as the frothing hyperbull during the tech run.
I always liked him.
http://www.reuters.com/article/2011/04/14/markets-battipaglia-death-idUS...
He made us all feel good at the bottom with his optimism. He was at least a nice guy.