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Houston, This Is Blythe, I Have A Problem

Tyler Durden's picture




 

And silver surges on margin hike news, taking out $32, and fresh 31 year highs. Something is very wrong. Our only question: how long before the American taxpayer has to repeat the AIG experience, and bail out JP Morgan over its billions in silver shorts. For our non tinfoil heat wearing friends in the various operating subsidiaries of the FT, we have one comment: "We have sold everything we can produce in silver and have demand for at least twice that volume,” said David Madge, head of bullion sales at the Royal Canadian Mint, which produces the silver Maple Leaf coin. Silver coin sales at the US Mint and the Austrian Mint also hit record levels in January"

 

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Fri, 02/18/2011 - 12:29 | 974401 Snidley Whipsnae
Snidley Whipsnae's picture

State and local govs can confiscate re and land by taxation.

Fri, 02/18/2011 - 12:40 | 974481 gwar5
gwar5's picture

BUY LAND IN ANOTHER COUNTRY!

Fri, 02/18/2011 - 17:03 | 975516 Treeplanter
Treeplanter's picture

I drive over the road.  (I traded my planting shovel and tree bags for a big rig.) The amount of good farmland lying fallow or covered by non commercial forest and brush is astounding, and a great deal of it can grow crops without irrigation.

Fri, 02/18/2011 - 11:37 | 974143 apberusdisvet
apberusdisvet's picture

GSR:   89..67..60..58..55..50..49..48..47..45..43..............1.  Within 5 years, bet on it.

Fri, 02/18/2011 - 11:41 | 974165 TradingJoe
TradingJoe's picture

I still don't trust all of this HYPE! The GOV is still in control, one little hint of a "small" rate hike and its ALL GONE to meet thy maker!

I am still in physical PMs but am short all else via put leaps, a small amount when you think how "bullish" all world is!

I just cant trust anyone at this point :)))!

Fri, 02/18/2011 - 11:43 | 974176 VFR
Fri, 02/18/2011 - 11:44 | 974180 Josh Randall
Josh Randall's picture

Inflation, interest rates, and gold prices; when any one or all of any of those rise then SILVER will rise, so I like our prospects Boys and Girls

Fri, 02/18/2011 - 11:49 | 974196 johnnymustardseed
johnnymustardseed's picture

Rumor... Jamie Dimon has told his employees that a company dentist would be removing their silver fillings.

Fri, 02/18/2011 - 12:02 | 974264 jus_lite_reading
jus_lite_reading's picture

Now that's funny!

Fri, 02/18/2011 - 12:15 | 974324 JonNadler
JonNadler's picture

yep, mine are already out...well they were out a while for other reasons

Fri, 02/18/2011 - 11:49 | 974197 PunkSgt
PunkSgt's picture

Obama has a comment about silver...

http://www.optionsninja.com/OWP/buysilver.html 

Fri, 02/18/2011 - 11:56 | 974200 plocequ1
plocequ1's picture

This taxpayer thing is starting to worry me. How does one discontinue his membership as a Taxpayer besides my three options of withdrawing from society , Become a sewer dweller or wait for the Evil Leprechaun?

Fri, 02/18/2011 - 21:54 | 976376 StychoKiller
StychoKiller's picture

What's the IRS gonna do when their Computer services providers demand payment in Gold/Silver?

Fri, 02/18/2011 - 11:51 | 974212 gordengeko
gordengeko's picture

FYI AGQ does 3x's what the price of silver does.  For all you chart mongers out there.

Fri, 02/18/2011 - 12:15 | 974318 thetruth
thetruth's picture

actually, it goes up about 1.8x the price of spot silver and down about 2.2x the price of silver on down days

Fri, 02/18/2011 - 12:16 | 974322 CD
CD's picture

ProShares Ultra Silver (the Fund) seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London. 

Fri, 02/18/2011 - 12:34 | 974435 gordengeko
gordengeko's picture

Thanks for clarifying.  I pegged the recent bottom at 118 and was telling my close friends and family start buying!!!

Fri, 02/18/2011 - 11:57 | 974231 lieutenantjohnchard
lieutenantjohnchard's picture

guess digger bickus is on the horn with the blythester wondering when she's gonna bail him out. i think digger bickus' viagara induced short position is about worn off by now.

Fri, 02/18/2011 - 11:59 | 974244 stuartbushcraftblog
stuartbushcraftblog's picture

"Blythe calling The Bernank come in Bernank"

 

"My short position is being put through a fucking ACME industrial strength mangle and its game over for me ..............gonna have to commit harri karri if your FED-O-Matic cannot deliver me some more virtual funny money ASAP....OVER!"

 

http://www.youtube.com/watch?v=sdz4dCMGbbw

 

Nanoo Nanoo...................BITCHEZ!

Fri, 02/18/2011 - 12:10 | 974290 mbouman
mbouman's picture

I know all the talk about a shortage of silver but why does Apmex.com have more than 800 100oz. bars for sale on their web site?  Am I missing something?

Fri, 02/18/2011 - 12:51 | 974576 kadriana288
kadriana288's picture

Notice how Apmex is also willing to buy 100 oz. bars over spot price.

Fri, 02/18/2011 - 12:14 | 974315 Downtoolong
Downtoolong's picture

APMEX typically offers 1000 oz. Comex deliverable bars from two or three sources. For over two weeks now they have only advertised one single Comex deliverable bar. It’s  a collectable from the U.S. Assay office produced in 1967, asking about $5 per oz. over March paper. If that one goes to a big bank, you know the jig is up.

Fri, 02/18/2011 - 12:21 | 974358 Savonarola
Savonarola's picture

Something tells me that this is a trap.

I own PM's, but we little people are making a daring move,  an Operation Barbarossa, and we little people will be stranded without hope, just like Napoleon and the Wehrmacht.  

GS and JPM want our money, and they will get it, no matter what.

 

 

Fri, 02/18/2011 - 12:32 | 974425 Internet Tough Guy
Internet Tough Guy's picture

You are the only comment in the thread to make this statment. Bravo to you; I see silver as a trap, and a release valve to take pressure off the real systemic threat, gold.

You can't corner a printing press, and it seems the only shortage is a fabrication shortage of silver, not a metal shortage. I think the silver longs will be broken.

Gold is the only real precious metal.

Fri, 02/18/2011 - 12:52 | 974588 beastie
beastie's picture

Actually you can corner a printing press. See George Soros.

Fri, 02/18/2011 - 13:03 | 974653 Internet Tough Guy
Internet Tough Guy's picture

You should review just how Soros broke the bank.

Fri, 02/18/2011 - 21:56 | 976381 StychoKiller
StychoKiller's picture

They can have all the FRNs they want, render unto Caesar and all that...

Fri, 02/18/2011 - 12:25 | 974380 omi
omi's picture

Where is a solid proof that JPM is short for its own book as opposed to performing funding operations for mining companies by selling forwards on the commodity mined? So far I just hear "JPM is short silver! get 'em!"

Fri, 02/18/2011 - 12:25 | 974381 overmedicatedun...
overmedicatedundersexed's picture

from the Paas yahoo board: another tin foil hat guy?? my bet is Wynter Benton is for real..

"Silver just blew through the roof without even stopping for any noticable correction. When the buying frenzy does stop, it holds its current level solid. I haven't seen any analysis of why this is happening, but I have a feeling a lot of people are watching the situation in Wisconsin and are starting to see the beginnings of America's "Greek Moment." The union protests and political battles are bringing home the reality of our political instability coming to a head. States are bankrupt, state workers and union thugs are unwilling to compromise and things could get ugly. Interest in precious metals was sharply renewed right when all this started happening. ""

Fri, 02/18/2011 - 12:40 | 974483 Snidley Whipsnae
Snidley Whipsnae's picture

The real movers in PMs are China/India...

US political instability has little if anything to do with the current silver move...

http://news.goldseek.com/BullionVault/1297952444.php

Fri, 02/18/2011 - 12:30 | 974416 Bastiat
Bastiat's picture

I see a squad of guys in talking bear costumes showing up at the Comex to take delivery.

Fri, 02/18/2011 - 12:34 | 974434 Kaiser Sousa
Kaiser Sousa's picture

thats good...

32.64...what the fuck???

Fri, 02/18/2011 - 12:41 | 974485 Bastiat
Bastiat's picture

"We want the physical . . . or a 20% premium . . . and the Master's woman!"

Fri, 02/18/2011 - 21:57 | 976388 StychoKiller
StychoKiller's picture

How long a 'train' is Blythe good for?

Fri, 02/18/2011 - 12:37 | 974442 fuu
fuu's picture

32.58...32.62...32.70 up 1.00 off the LOD so far. Anyone able to see futures want to share the March and July numbers?

Fri, 02/18/2011 - 13:00 | 974640 I Am The Unknow...
I Am The Unknown Comic's picture

fuu, sorry this isn't real time, but I hope it is helpful:

http://www.marketwatch.com/story/silver-futures-hit-highest-level-since-1980-2011-02-18

Fri, 02/18/2011 - 12:35 | 974446 Snidley Whipsnae
Snidley Whipsnae's picture

Silver is up eight four cents in the last one and one half hours.

Silver trading in $32 range may soon be a memory.

Fri, 02/18/2011 - 21:59 | 976392 StychoKiller
StychoKiller's picture

Silver closed at $32.66 (or thereabouts)!

Fri, 02/18/2011 - 12:54 | 974462 Ahmeexnal
Ahmeexnal's picture

"But, but...it's only rising in price in USD!! In the mighty Euro silver never goes up!!"

"But, but...Marc Faber said a major correction would take place!!"

Fri, 02/18/2011 - 13:06 | 974669 I Am The Unknow...
I Am The Unknown Comic's picture

Isn't this fun?  I'm glad you mentioned the USD.  It is having a bad Friday.  Currently at 77.68 and continues to fall.  A little further and I don't see how gold could stay below 1390.  Silver's a happy boy regardless.   If USD doesn't hold support at 77.50 then I believe we've got 1400 gold by the end of the day.  That however, is an important IF.  

Fri, 02/18/2011 - 12:38 | 974468 mbouman
mbouman's picture

Let me repeat my question.....I know all the talk about a shortage of silver but why does Apmex.com have more than 800 100oz. bars for sale on their web site?  Am I missing something?

Fri, 02/18/2011 - 12:41 | 974496 Snidley Whipsnae
Snidley Whipsnae's picture

Why don't you call them up, order a few bars, and let us know what your delivery date is?

Fri, 02/18/2011 - 17:24 | 975594 akak
akak's picture

So, in other words, there is never a problem until the last dregs in the bottom of the barrel have been scraped clean?

Foresight: getcha some.

Fri, 02/18/2011 - 12:41 | 974482 johnnymustardseed
johnnymustardseed's picture
President of Exchange: [Jamie Dimon has just collapsed with shock] Blythe Master, your boss is not well. We better call an ambulance.
Blythe Master, you listen to me! I want trading reopened right now. Get those brokers back in here! Turn those machines back on! [shouts, echoing throughout the trading hall] Turn those machines back on!
Fri, 02/18/2011 - 12:42 | 974493 Ahmeexnal
Ahmeexnal's picture

Gigacrash in the stock markets in 3...2...1...

Fri, 02/18/2011 - 12:43 | 974515 Kaiser Sousa
Kaiser Sousa's picture

32.80????

by the time i get to my dealer the shit might be 50.00....

Fri, 02/18/2011 - 12:43 | 974516 JLee2027
JLee2027's picture

Approaching $33.

 

PARABOLIC.

Fri, 02/18/2011 - 12:46 | 974525 Snidley Whipsnae
Snidley Whipsnae's picture

Silver now up ninety six cents in last one hour and forty five minutes.

Gold just took out $1390

Fri, 02/18/2011 - 22:07 | 976418 StychoKiller
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Gold closed at $1389.10 (according to Kitco), with a 3-day weekend coming up for Wall St...

Fri, 02/18/2011 - 12:45 | 974519 qussl3
qussl3's picture

$50 this year may be conservative in hindsight.

How soon before the the BOC, ECB and FED have to stop expanding money supply before hyperinflation?

Already seeing the beginnings of a currency panic in China, judging from whats happening in EUR/CHF, the smart money is out already how soon before "no inflation here" becomes an impossible PR exercise in the US?

But to stop may be even more insane.

It terrifying yet strangely exciting.

Fri, 02/18/2011 - 16:29 | 975420 Unbeliever
Unbeliever's picture

> It terrifying yet strangely exciting.

 

Just like being in a car crash.

Fri, 02/18/2011 - 12:45 | 974526 Warrivar
Warrivar's picture

Time to get my Blythe masters doll with kitchen sink accessories!

Fri, 02/18/2011 - 13:09 | 974697 I Am The Unknow...
I Am The Unknown Comic's picture

I hear there's two more Blythe dolls coming out soon:

Vacation Blythe

and Bentover Blythe (accessories include anal fisting kit)

Fri, 02/18/2011 - 13:40 | 974853 Trifecta Man
Trifecta Man's picture

That was very funny.

Fri, 02/18/2011 - 12:52 | 974578 FreeMartinArmstrong
FreeMartinArmstrong's picture

when gold hits 10k it will be the thai and philpinne comming to hollywood or vegas for western pussy ...

Fri, 02/18/2011 - 12:53 | 974592 gordengeko
gordengeko's picture

Matrix = Options on AGQ.  Even though it's paper fiat bullshit money.

Fri, 02/18/2011 - 12:55 | 974604 east paris trader
east paris trader's picture

I think we'll find out , at a later date, that JPM was on technically short, but was caught unable to pull back physical to meet surging demand.  The hedgies got wise to this and starting standing for delivery.  JPM paid premiums to settle in cash.  Guess what?  Next delivery month there are four times as many hedges funds in on the game....  they won't stop playing the game.

 

The back drop for a metals surge couldn't be better.   Ben is trapped like a fucking rat.

 

 

Fri, 02/18/2011 - 13:09 | 974699 Johnny Lawrence
Johnny Lawrence's picture

Fuckin A.

Fri, 02/18/2011 - 13:18 | 974741 Johnny Lawrence
Johnny Lawrence's picture

All the IBD leaders are down today. Could just be nothing, but I've rarely seen that.

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