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Jim Rogers Comments On Triple Digit Silver And Issues Warning: "Parabolic Moves Always Collapse"
Jim Rogers commented on the recent move by the University of Texas to take delivery of $1 billion in gold, saying the decision is long overdue, and has only occurred because everyone else is now buying thereby taking metal out of circulation. He adds: "But where were these guys five, ten years ago? That’s when they should have been doing all of this." Indeed the momentum chasers never show up until it's too late. Then Rogers had some words of caution for silver bulls: "If silver continues to go up like it has been over the past 2 or 3
weeks, yes, then it would get to triple digits this year. And then
we’ll have to worry. It’s not parabolic yet. I hope something stops it
going up in the foreseeable future and we have a correction. " There is one caveat: "maybe the US dollar is going to become confetti in 2011, and if
that’s the case and silver goes to $150, then obviously I wouldn’t sell
my silver. It would be the US dollar which is collapsing. But if
silver goes up the way you’re talking about without currency collapse, I
would be very worried." So as usual, those long Precious Metals should not hate the Chairsatan but to urge him on to continue doing what he is doing so well: converting that once valuable combination of 75% cotton and 25% linen into "confetti."
From Financial Survival Radio
Financial Survival Radio: We just read that the second-largest university investment fund here in the US is buying physical gold. The University of Texas, which is where I live, is putting aside $1B worth of gold in a New York vault. Some have called this move a tipping point for the precious metals market. Do you agree?
Jim Rogers: Well, tipping point? Gold’s been going up for ten years in a row. I’d hardly call this a tipping point. Silver’s been skyrocketing…
FSR: Maybe a tipping point where we see more institutional mainstream demand.
JR: Well, again, that has been happening. If suddenly all the pension funds wake up and say, I’ve got to own gold, they may start thinking about it more and more. But the thing that’s been getting people’s attention is the fact that gold has been going up so much. That’s the wrong way to invest. Look, I own gold. I own silver. But where were these guys five, ten years ago? That’s when they should have been doing all of this. Unfortunately for all of us, most investors don’t notice something until there’s a good, nice bull market in place, such as with gold and silver. After ten years of price rises in gold, people are starting to notice. That’s what they’re noticing more than the fact that the University of Texas is buying gold. I’m glad they did, I own gold. And yes, there will be more people buying gold. Eventually, everybody’s going to be owning gold, and then we’ll all have to sell our gold. But that’s a long way from now.
FSR: Silver in particular has been of great interest to my family. It looks like $50 silver is going to happen very soon. But Jim, will we see a triple-digit silver price in 2011?
JR: If it does, we’ll all have to sell, because then you’ve got a bubble, a parabolic move and all parabolic moves end badly. I certainly hope it doesn’t happen because I own silver and want to buy more. My hope is, silver and gold and all commodities will continue to go up in an orderly way for another ten years or so, and eventually the prices will be very, very high. Yes, we’ll have triple-digit silver, but if it happens this year, Jay, I would probably start to think about selling.
FSR: But what we’ve seen so far, you wouldn’t consider parabolic?
JR: No, not yet. But I’m worried about silver. If silver continues to go up like it has been over the past 2 or 3
weeks, yes, then it would get to triple digits this year. And then
we’ll have to worry. It’s not parabolic yet. I hope something stops it
going up in the foreseeable future and we have a correction. There’s never one in history that hasn’t popped.
Now, maybe the US dollar is going to become confetti in 2011, and if that’s the case and silver goes to $150, then obviously I wouldn’t sell my silver. It would be the US dollar which is collapsing. But if silver goes up the way you’re talking about without currency collapse, I would be very worried.
FSR: So that’s the bottom line, those who have been holding on to precious metals for the long term need to watch where the Dollar is to decide whether it’s time to sell.
JR: That’s certainly part of it, yes. And you have to watch the price action. I remember when gold went parabolic in 1980. I shorted gold when it went parabolic in 1980, and it went higher for another two weeks after I shorted it. But it eventually collapsed. Silver eventually collapsed. All parabolic moves throughout history, there’s never been a parabolic move which hasn’t collapsed in any asset.
Silver and gold, yes, will be a bubble someday, Jay. There’s no question in my mind that all commodities will be a huge bubble someday. But I don’t think that bubble is going to happen in 2011. I think it’s going to be more likely 2017, or 2018…you know, a few years from now. I’m not picking a year, just saying it’s a few years away. It could happen sooner, but I hope not.
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"Gold...is money." JP Morgan..."the man" not "the bank."
"Of course, the records this week are not adjusted for inflation. Gold rose to $825.50 per ounce on Jan. 21, 1980, which is $2,211.65 in today's dollars, according to the Minneapolis Fed Calculator."
http://tiny.cc/myxvz
For the math challenged, this means that one has lost almost 50% of one's purchasing power by holding fake money over the past 31-years.
Also, you have lost 99% percent of your wealth from 1919 to today so feel real damn good you were born later
Nominally, perhaps. Not necessarily in reality, though, unless all that wealth was stored in currency (currency is wealth only when it is exchanged for actual goods or services).
Parabolic moves always collapse, IF the economic train actually manages to stay on the tracks.
In a sustained depression following a massive global economic collapse, intrinsic value WILL BE king. Gold and silver could find themselves bouncing around at stratospheric prices because they're not subject to the forces that would normally cause a bubble to pop. Mr. Jim Rodgers is not willing to shine his flashlight down that rabbit hole!
Oh no it's not different this time. buyer mentality and the herd is always the same. In fact you saying that has me worried
Mogul,
I like your comments but how is there a "herd" when less than 1% of all financial assets are in silver/gold? You can't find 2-3 out of a 100 that have any exposure to the PM's. Sorry, not buying that worn out, stale, bullshit argument anymore. This isn't parabolic at all. A big move? Sure. Correction coming? Yeah, so what? This is a supply/demand and suppression/manipulation story, not a blow off mania. Not yet anyway.
Very few people own gold and silver and that's a fact.
Tune out the fear/noise and BTFD.
Most of the estimates that I see are 1% - 3% of Americans own investment (non-jewelry) precious metals.
QE to infinity indeed!
he's right, I want to buy more silver too. pull-back bitches; pull back.
i don't see triple digit silver for a long time. the jpm and blythe fight this everyday. they sandbag every move up with shorting. they attempt to control its movement. any move into triple digits would not be a bad thing, when it does happen one of these years. it would mean that the real price is being achieved. i mean compared to the 1980 , 50 dollar price, what would the price have to be today to equal 1980 dollars? jimbo is a trader and not a gold bug. he would sell his paper silver and get dollars for it i suppose? when he says he owns gold and silver he probably means GLD and SLV.......
Good point. Anyone suggesting a dollar collapse, this year, surely can't be so thick as to overlook the importance of physical possession. Anyone paying attention knows paper PMs are a racket.
I wonder what his allocation for paper vs. physical is? One hundred ounces to one?
Probably related to how "inside" he is on inner circles. I wonder how many of these big guys have private stashes - the ones they never talk about? Some of their wealth must be "for show"; indicating whether or not they are drinking the kool-aid; imagine the games of intrigue at high levels. As things fall apart you can expect them to eat each other like rats in a sack.
I thought I saw him recently say he was buying dollars short term but bearish long term on the dollar. Don't quote me on that tho, you're right the man is extremely intelligent on money and investing. I don't think he cares too much either way, he is the type that will be fine no matter what.
well he is well connected to the game. he never talks about the game ending though. he thinks it will always continue on. i differ on that. it simply cannot. surely he sees this too but since he is a man in his position that he is in, he cannot go around talking like he has a tin foil hat on his head or else he would not get any invites. so he keeps the talk to what they can understand. so, in reality, the fact that he moved out of this country tells me he sees the end of america coming. so how does he hedge against the end of the financial world that he has always known? the asians where he lives love gold and silver......i wonder how much he has squirrreled away in some asian bank vault over there? also he talks about the new world economic power to be china. fine, but at the same time he may not see that china is the new golem being created for another world war. he looks at it on simply surface terms of economic power but never discussing the hidden hand at work and just who is doing what in the back room. surely after all his years of working in this business, he knows who has the real power. i mean hell, he cut his teeth working with george soros.......i bet george broke it down for him once or twice on a friday evening at the office while they were working late, over a couple of glasses of Manischewitz
Right on with that. Yale grad working directly with one of the head vampire whores in the business, I know he knows the plan. I always watch these guys talk, I also watch the nightly news once in a while. None of their moves are secret anymore and they telegraph most of the time. They have never been so overt as they are now nor are they overly concerned with people talking which tells me the end game is close.
Bingo HPD!!! Spot on.. as usual.
Great as usual HPD. The guy helped Soros break the Baht.
I think you got dinged for the wine reference.
Come on you junker out there. Soros can not kick back with a Manischewitz??
But on that cotton and linen will be printed the fabric of society. It can be like the confederate dollar, Weimar or Zimbabwe.
The Confederates just took control of $1 billion in Gold (a 4 foot cube) to backup new Confederate Dollars.
no , sir, it is the republic of texas , damn it, the republic of texas. .........
You forget that Texas joined the Confederates.
http://dixienet.org/rights/index.shtml
no sir, i don't forget. my people on my mother's side fought in hood's texas brigade. need i say more? one thing is for sure. not one of those blue bellies set foot in this land while the war was going on, that is for sure. oh they tried, but they got their asses stomped.....
Enough of this bull shit. The Gold is in New York!, You don't have shit;)
one thing is for sure. not one of those blue bellies set foot in this land while the war was going on
As a fifth generation Texan, allow me to call bullshit on your post. The Union Army occupied quite a bit of coastal Texas. Galveston and Brownsvill were both occupied. Texas also went through a 4 year blockade from the Union Navy.
The Hood brigade was the the Battle of Sabine Pass and that was a victory.
But don't ever say something stupid like Bluebellies never stood on Texas soil without doing a BIT more research.
Carry on.
Perhaps unintentionally, your post appears to understate the Hood Brigade.
The brigade distinguished itself as a hard fighter during the Seven Days Battle where it routed the enemy at Gaines' Mill, captured a battery of guns, and repulsed a cavalry counterattack. Its reputation was furthered when it spearheaded Longstreet's assault on Pope's left at the battle of Second Manassas. The brigade overran two Union regiments, nearly decimating the 5th New York Zouaves, and captured a battery of guns.
The brigade's most famous action took place on the second day of the Battle of Gettysburg, during its fight for Devil's Den. Though the Confederacy ultimately lost that battle, the 1st Texas, 4th Texas, 5th Texas, and 3rd Arkansas distinguished themselves in taking Devil's Den despite being greatly outnumbered and suffering heavy casualties, to include General Robertson being wounded.
By the war's end, the Texas Brigade had fought in all the battles engaged in by the Army of Northern Virginia except Chancellorsville. Battles included the Battle of Seven Pines, Seven Days Battle, Battle of South Mountain, Battle of Sharpsburg, Battle of Fredericksburg, Battle of Gettysburg, and the Battle of the Wilderness. They later fought with the Army of Tennessee at Chickamauga and during the Knoxville Campaign, as well as with Longstreet at Suffolk.[1] Of the estimated 5,353 men who enlisted in the three Texas and one Arkansas regiments, only 617 remained to surrender on April 9, 1865, at Appomattox Court House in Virginia.[1] The Texas Brigade, along with the Stonewall Brigade from Virginia, were considered to be the Army of Northern Virginia's shock troops.[
Point taken. They certainly did kick Union ass.
Good hit :)
Rogers has been bashing silver since the high twenties. I think he lost his position. He keeps say he will buy on pullbacks. Oh well.
This was some bad info on my part. Removing it.
I think you have got him confused with mathman.
Unless the dollar turns into confetti this year. Thanks for the clarification, Jimmy.
he says everybody will be owning gold? oh please. nobody owns it now. when is this event going to take place?
Agreed. Pretty vague. "Everybody buys, then everybody sells." If only we could get Jimmy to say, "Buy the fucking dip."
No way! I want Jimmy to keep on panning Silver. I am ALWAYS looking to store up some more at repressed prices. Please Mr. Rogers, have your followers fear Silver... Please, Please, PLEASE!!!
When fiat is confetti and its replacement is premised upon precious metals
There's only about .78 ounces of gold per person on the planet. "Everyone" will never own gold.
I'll never forget way back when - when my wife married into my family who have been hoarders of the precious for so very long.
She thought I was a nucking futjob and my family as well. But me being a stud and all she couldn't live without me so she sucked it up and went along for the ride ( no pun intended).
That was 30 years ago. Boy am I getting some now.
Woohhooo!
How's that for investing - yeah baby
I luv my precious (s)
you mean "your wife" right?
he meant mine
Funny, my shipment of pre-1964 silver coins (i.e. Dimes, Quarters, 50 cents, and Morgans) just came in. Either way, I'm covered... Bring it on Bernank...
poor it out on your bed and check it for any copper in that lot......ha ha ha
It's 90% Silver, baby!
good. i am just saying sometimes some copper gets mixed up in those bags. when i found some copper coins in there, i would tell franklin sanders about it and he would send me a replacement.
single dollar "silver certificate." that's all i have. says "redeemable" on it.
I could be wrong, but I don't think those have been redeemable for anything except a $1 FRN since about 1968.
Talking his book...he needs the ponzi to continue as well...never forget that!
why did mr bowtie split up with georgie boy?
by the way, he split to singapore anyway, the fuckstick. yeh the crap is in our lap now. he is rich and got out while the getting was good. so one day, he may not be able to return. such is life.
What to do with all the worthless dollar bills? I know, make pinatas and have them look like the bernak or donkey face paulson.
This......
http://www.usagold.com/images/hyperinflation.jpeg
Riverdale-on-the-Hudson, OCTOBER 15, 1902.
THE HON. THE SECRETARY OF THE TREASURY, WASHINGTON, D. C.:
Sir,--Prices for the customary kinds of winter fuel having reached an altitude which puts them out of the reach of literary persons in straitened circumstances, I desire to place with you the following order:
Forty-five tons best old dry government bonds, suitable for furnace, gold 7 per cents., 1864, preferred.
Twelve tons early greenbacks, range size, suitable for cooking.
Eight barrels seasoned 25 and 50 cent postal currency, vintage of 1866, eligible for kindlings.
Please deliver with all convenient despatch at my house in Riverdale at lowest rates for spot cash, and send bill to
Your obliged servant,
Mark Twain, Who will be very grateful, and will vote right.
-THE END-
Mark Twain's short story: A Letter to the Secretary of the Treasury
Has Bernanke looked at a chart of silver within the past six months? Would he be capable of making the connection between the vertical launch higher and his August 2010 Jackson Hole speech putting QE2 on the table? Perhaps he would disagree with the premise, or considers silver a "volatile commodity" and its price increase "transitory". The Fed actions on monetary policy relies heavily on inflation expectations, expectations that are seemingly always "well anchored" in the Fed's eyes. Bernanke is intentionally ignoring the silver elephant in the room to the peril of nearly everyone. But what can you expect? Fucking guy missed the last crisis by a mile and his fate? Increased power and authority; the occasion to put this junior high school economic thesis into practice. It takes almost out of this world intelligence to come up with a solution that amounts to throwing money at the problem. It is exactly what the filthy rich.parents of my fuck-up friends did. It is all they know, it is all they've ever known
If you love america you yank counterfiet money out of it's jackson hole.
Bernanke is a BIS board member. Current BIS research and policy papers still state that the loose monetary policy post 9/11 did not lead to the subsequent increase in commodity prices ($150 oil). However, some of the BIS arguments are largely semantic.
I think that a lot of the confusion about Rogers' comments on silver moving parabolically are also semantic and likely the result of a short(er) timeframe perspective. Roger's went bullish on the commodity cycle early to mid last decade, since then there has been one significant correction in the general upward trend (the 2008 credit crisis, which currently provides support @ $18/oz). However, if one examines the recent price movements of silver (since the Japanese quake) the daily advance has been a controlled linear movement upward. One line of thought is a result of long-term technical analysis; the other is the result short-term technical analysis. However, even from a short-term perspective, the absence of any dips to buy, which erase even a single week's gains, is troubling and not indicative of a natural market movement. Identification of parabolic movements can also be done from a fundamental perspective, where fear leads a buyer to view ownership and access as more important than price. This perspective also does not align with the long-term technical analysis perspective.
External drivers of price movement are also critical, as Rogers freely admits. If the fiat currency collapses, then there will be a fundamental re-pricing of hard currency (PM), possibly with a new (permanent) floor established above current prices. However, if the current credit bubble/excess liquidity/BIS semantic game-du-jour that is resulting from post-2008 credit crisis monetary policy collapses without taking down the underlying fiat currency, then there is room for another significant price correction. If an investor has an unlevered cost basis in silver of $4-$8, then today that trade could be exited with a 500%-1000% gain, which annualized would still be a high double-digit to low triple-digit gain. Actually sitting on an unrealized gain that large provides a different perspective on the balance between greed (price appreciation) and fear (capital preservation).
The biggest variable remains the viability and expected lifespan of the coincident fiat ponzi scheme. It is in the interest of global economic development that the ponzi continues, at least until a suitable alternative can be developed and implemented. What is rational behavior for an individual investor may not be rational behavior for the marketplace as whole, but that is an again an argument of semantics, and markets may remain irrational long after one has the option of pocketing ten-bagger.
Gold and silver have been "parabolic" for a decade.
Tell me this isn't an exponential function:
http://www.kitco.com/lfgif/au3650lf_ma.gif
Which makes sense because debt is exponential and therefore "growth" must be exponential.
The real question is, IMHO, is whether or not demand for physical possession will increase with price. If the dollar looks to collapse/transition, will there not be an increasing demand for delivery? I believe a higher price will expose the already limited supply.
I have to say I never did quite trust Rogers - that good old boy routine is quite a act given his tuition in the art of speculation.
Anyhow if dollars leave deposit accounts which shadow over valued housing stock - does it not reduce the real size of banks as their remaining deposits back up a much smaller mortgage house price.
It would be very possible that dollars could still hold value under these circumstances - its just that citizens are becoming their own central banks again given the corruption in the banking system.
Perhaps I am missing something but perhaps Rogers is missing something - his heritage and training under the $IMF system may now be obsolete.
Goverment money in conjunction with PMs may now be the new norm - the credit money is however complety F$£king useless.
he lost a fortune in the 90's as did anyone else "going long PM's." that "aw-shuck's" demeanor is the result of having your shirt "handed to you" as the result of a "little thing called 9/11." some things you never forget no matter the media "state." even today he still has the courage to tell the truth about it.
Also wishing for a drop in prices to buy more. Seems to me that there is enough current interest in silver to find buyers for hundreds of billions of paper ounces. If a mad rush starts for the minute amount of actual physical available it would be mayhem to say the least. One single failure to deliver could create the basis for a parabolic move higher. Right now silver is just rising a couple of percent higher each week looking for the all time high. Inflation adjusted high should be taken out in the next year or two.
nice warning from Jim ...
here comes the leeches ... let's see if they can screw up the PM play for everybody!
Jim said something to the extent that everything that moves parabolically crashes. I ask, what will crash silver? A lack of demand for the commodity that is in every piece of technology? A lack of demand for the precious metal that acts as the definition of monie? An over supply for a market that has the above ground amount as that of gold? A short in fiat denominated currencie? The same currencie it is on the verge of ending? No. Nothing stands in the way of silver. Let Jim trade out. Watch as the ratio spins back to 15:1, and at the same time gold skies to $3k or higher. Gold is used as the asset that backs all f finance because it is the only good asset that the central banks have. Why does silver not sit in a bank vault? Well, son it will. And then what will Jim do? Buy more silver, but at a higher price.
Obamatron and the Decepticrats actually cutting Govt spending by more than 5%?? Bwahahahaha, I crack me up! :>D
Although Jim does not like the dollar, he has never mentioned that all fiat is worthless, and that silver, like gold, is the exact definition of monie, as the metric definition of a store of wealth must be met, and bonds are nothing but an IOU, and these bonds that back the dollar are only redeemable for dollars, which are, to finish, worthless. I will love to watch financiers like Jim jump out of the Argonaut at $150. This way it will be much easier to row.
http://lhmarketwatch.blogspot.com/
Rogers has criticised the Fed many, many times in interviews, and when asked what he thinks the Bernank should do, says 'resign, and abolish the Fed'.
He's a libertarian, well versed in the Austrian economic school, and a very shrewd investor. I've been following his interviews for about 2 years now, and, despite him saying he is a 'horrible' market timer, has predicted a lot of short-term currency moves with uncanny accuracy.
As I recall, during that time he's been pushing people to buy silver and telling people he thought it was a better bet than gold. He was right there, too.
If Jim Rodgers posted on ZH, he would have been endlessly trashed by now. Those are nothing but politician styled answers to loaded questions.
He seems a little bummed he didn't buy enough silver. Sour grapes.
I'm sure when the crap hits the fan, Singapore will be a safe place to live Jimmy. /sarcasm off.
+1,
He did sound bitter. He forgot that the Fed would keep its gold and oil shorts, and let silver apreciate, because not many people were watching silver. Do you think he will buy more now? Or just wait until $150 to sell?
This was some bad info on my part. Removing it.
This is why I sold out of my silver position:
http://www.kitco.com/charts/historicalsilver.html
Scroll down bottom right and click multi-year silver 1985-2011.
Parabolic enough for me. I'm not smart enough to call the top on this.
Can someone (maybe cog d) post that chart?
I know what you mean. That's tough, I sold once we hit 41-42 the first time. Thought it would get slammed to 30's, yep I was wrong so got back in .50 above what I sold. What gets me is friggn JPM still short them damn contracts, how the freakn silvertard can they keep getting away with this is beyond my frontal lobe capabilities.
Ask yourself a few questions.
Will taxes go up?
Will the government keep spending?
Will Bernanke continue to head the FED?
Will the wars in Libya, Iraq, and Afghanistan end?
Will the US still keep bases in Germany, Japan, and Korea?
Will the US continue bailing out foreign and domestic banks?
If you answer all honestly you'll answer your own question on calling a top.
If I could answer all those questions do you really think I would be typing this response to you?
If I could predict the future I would be in a waterside bungalow somewhere on the island of Nevis with 50 of the hottest women on the planet getting fanned by palm fonds and being hand fed small pieces of pineapple cut to my liking.
I'll help you out here.....
Ask yourself a few questions.
Will taxes go up? Yes
Will the government keep spending? Yes
Will Bernanke continue to head the FED? Yes
Will the wars in Libya, Iraq, and Afghanistan end? Never
Will the US still keep bases in Germany, Japan, and Korea? Yes
Will the US continue bailing out foreign and domestic banks? Yes
I think silver is a good investment it's just gone too far too fast for my liking.
That's what makes a market, and I hope you when you decide to take a profit it's at the right time.
The most important chart.
And my house will just keep going up in value. "They aren't making any more land"!
gh
This is why I sold out of my silver position ... Parabolic enough for me. I'm not smart enough to call the top on this.
Americans seem to be having a difficult time accepting the obvious, the US dollar is collapsing.
Understandable. It hasn't happened before. Not in our lifetime.
But it's happening now.
A "top" in silver isn't going to happen for a long time. It's going to keep rising ...and keep rising ...and keep rising.
The limit of 1Toz/$ as $ approaches Zero is ∞
(or undefined, if you prefer!)
So as usual, those long Precious Metals should not hate the Chairsatan but to urge him on to continue doing what he is doing
I never thought of it that way. Keep printing, Ben!
Gold, aka "the bernanke put"
all right
who put the 1000 oz monster bar
in the cats liter box ...
not funnie ..
not funnie at all....
Your cat did it. It's trying to tell you that he/she will need it for future cat needs.
its biofriendly properties pleases the kitty. Fill the box with the bars
It's not parabolic? Yeah right.
No, but the debt sure is
'So as usual, those long Precious Metals should not hate the Chairsatan but to urge him on to continue doing what he is doing so well: converting that once valuable combination of 75% cotton and 25% linen into "confetti."'
Uh, no...I don't wish for fire just because I have insurance. I own metals because I have to. I still want to see Bernanke whacked.
a reasoned voice this way comes.
If silver goes to triple digits this year, you will be selling your silver for food.
I'll be trading it for food. You'll be burning Jew confetti for heat.
I already bought the food, its waiting for my silver to catch up
Uhm no ... I'll be selling food for silver.
And your point is? People with silver will eat and people without won't? I have friends here in Texas that will buy local beef to eat, horses to ride if shit does hit the fan short of a war.
Oh, and the prepared that have PM, horses, raise cattle, have sawmills, water wells with solar powered, chickens, garden's, gun's, mega ammo, live in Texas, blonde withbig tit's in the living room are called what, hill billies or rednecks lol.
Why do you think smart money like T Boone Pickens has Clean Energy, tick CLNE?
Ol Jimmy invest in Asia correct? Read this clip below and ask yourself's this, don't you think Ol Jimmy know's this intel?
"
WHAT CHINA DOESN'T WANT YOU TO KNOWThe vast majority of rare earths in China come from its border area next to Mongolia, called Inner Mongolia. China has recently made moves to begin severely restricting its Rare Earth exports, which would have a devastating effect on manufacturing and industry in the United States, Japan and South Korea – none of which produced any Rare Earths of their own last year. Rare Earths are used in everything from catalytic converters in cars to computer monitors, TVs, pharmaceuticals, iPads and military equipment – just to name a few applications. Analysts say without these elements, much of the modern economy would shut down."
Come on Jim, let's do this, you stay in Asia you vampire and we will stay right here in Texas.
Yeah. I'm not going to apologize if silver gets to 100 or 1000. I mean, that's the idea right? Or should I start feeling bad for those on the other side of the trade. You'd better believe THEIR govt would take PMs if they were desperate enough. They already did once! I am not for parabolic because I want more time to add a position. I want more struggle from the 'powers' as they slowly become powerless. I want exhaustion, resignation, and then complete capitulation. Only then will their blame for collapse and disgusting vanity be understood for what it is. And only then will any sympathy for their sheer wretchedness be possible.
By the way I kind of like Rogers because every time he is asked what he would do if he were Bernanke he says, without hesitation, he would resign and close Fed's doors.
Like I said.
A box of 500 Silver Eagles I purchased for something like $3,600 in 2003 can now be cashed in and I can buy a Honda Insight that gets 40 mpg. I'll probably be doing that pretty soon.
Oh, wait, I forgot about the confiscatory 28% tax I gotta pay...........
I could have used the $3,500 to buy 500 shares of AAPL for $7 in 2003, now that same stash would be worth $170,000, and I'd only pay 15% capital gains taxes. I could then use the after tax money to buy a "supercar" like a Mercedes SL500.
LOL.....
But buying APPL at 7 would have hard and from what I've read, that's not your style. . . Silver is just so easy. I mean the President Congress Treasury and the Fed are forcing us to buy every time they open their mouth.
(sorry, half a bottle of wine into my silver celebration.)
Edit: Buying APPL at 7 would have been hard.
Whatever you all get the point. Up with silver, down with FED and other yucky people.
You take your monster box to a coin show and sell them for cash and never report it because no one is ever going to know.
"You take your monster box to a coin show and sell them for cash and never report it because no one is ever going to know."
THATis the future reality. There's two types of people who buy. Robotrader(aka Ramora) et alare investors. They talk prices and entry and exit points. They only deal thru legit channels. Dealers, etc. They THINK legit. (Except for white collar type crimes).
Then there is You and I LJ. We invest for the Long Haul.
In order to live in the not too distant future, you must Think like an outlaw.
Look at the 3rd world barter system. Flea markets, Coin shows, Gun shows, etc are PEOPLE dealing directly with PEOPLE. Both end the conversations with with each other saying something like "I wasn't here right?"
Confiscation? I will worry about that when they confiscate the last oz of pot in America .
Hey Robot, I have a question for you.
How much money would you have if you bought all originial 30 Dow components?
Probably not much considering 29 of them have gone to 0 and the only one left is a nationalized company.
Blow me.
on a long enough time line....
who nationalized GE without telling me? I demand THE TRUTH! ("you can't handle the truth! we CEO's go to places Mr.--and what do we ask for??? Your money? Your regulations reduced to rubble? Your political class running to us when WE mess up? What to do you think Weinberg? Huh? Hoo? What? Baht? Ruble? Clusterphuck? Oh, dinner mint..ahhhh.")
Shit Robo, I'd wish you would dump your silver back into the pool of availabilitythat is rapidly shrinking. No matter if the U.S. tanks today, tomorrow, this year, or nextdemands by the public for energy(also shrinking in availability), health care, pensions, food(shrinking in availability) selling any tradeable PM for future resources would be well.....stupid. But please oblige us to continue on with our survival and civilization, these PM loving people we are, cause stock market loving dumbasses such as yourself will be wonderful to watch for sport in the colloseum that us PM holders will own. If you win perhaps we'll let you spin the wheel.
Indeed. The fiat siren is/was irresistable. No wonder 98% of peeps can't even dream of leaving it. No wonder we have such deeply embedded entitlement mentalities, and a perceived deep and endless pockets for military spending. No wonder they call fiat a drug..
Yes, if you time bullshit stocks perfectly, you can make a fortune. If you're connected, it is easier to time bullshit stocks. Just look at all the rich assholes in New York. I buy silver to tell them all to fuck off.
Ya. Apple is going to be rich. They are sueing people for stealing thier ideas.
http://www.designbyinfinity.com/internet/73e7bcd2.jpg
I thought these super slick guys were supposed to have everybody all confused and retarded from how powerful and strong their lies are. Not the other way around. Where they get treated to monthly beatings for being complete insane and delusional.
I could have used the $3,500 to buy 500 shares of AAPL for $7 in 2003, now that same stash would be worth $170,000, and I'd only pay 15% capital gains taxes. I could then use the after tax money to buy a "supercar" like a Mercedes SL500.
Did you?
If not, then STFU, because it doesn't matter. I could have bought 100,000 shares of HD on margin July of last year and made a million $$ too, and bought all kinds of sweet cars. I could have bought a winning lotter ticket a couple of months ago and been rich too. So what?
RoboTrader couldn't buy 500 shares of Apple at $7 in 2003, because he had invested his life savings in the following:
The Winners of the New World - TheStreetI forgot to add, Robo's mom threw a hundie down the basement stairs, and he went and spent it on this in 2008:
Jim Cramer: "Bear Stearns is Fine!"
I could have used the $3,500 to buy 500 shares of AAPL for $7 in 2003, now that same stash would be worth $170,000, and I'd only pay 15% capital gains taxes.
Good point. Can't argue with facts.
Back then we didn't foresee the 2008 crash.
We didn't foresee Bernokio's decision to re-inflate equities (while ignoring the economic collapse).
We didn't foresee trillion-dollar deficits.
We didn't foresee Fed single-handedly financing US government debt with trillion-dollar Treasury purchases.
And we didn't foresee collapse of the US dollar.
While Jim is one of the few talking heads I even listen to I got a little news for you Jimbob. I to was playing that 1980s run to eighty dollars and watched the bubble burst. I held one 100 oz bar for dang near 15 years to get my money back. I took a loss on some later purchases. and yes it went parabolic. It was what happened since then that changed. That 80s blowoff was caused basically buy a few billionaries trying to corner the market by taking delivery. This time its more like a billion ants wanting a little stability. This is more akin to Obama getting 10 bucks out of every little guy in America to get elected vs trying t raise election funds from a few big donor. After that 1980s crash many like myself were stung. Ever since then the price laid there dormant and is only mined as a byproduct from copper tin or lead. They have actually been mining it as a loss because the thumb has been on it since the last trainwreck. Silver is just starting to wake up and return to its investment status it had at the turn of the century before big brother took over. JMHO
Whoa.....wait, silver can only go up-up and AWAY!
LOL
If Bernanke keeps the printing press going wide open you are correct.
LOL
O foolish ones! TPTB will create a new fiat so powerful that gold and silver will melt in its presence. The power of this new fiat will be so great as to drive the gold and silver back into the earth from which it came.
Heard it here first, remember.
A legend.
Not surprised on a correlation sell trade: risk currencies and commodities within in weeks
silver is still cheap - you ain't see nothin' yet.
As more sh&t hits the fan, you'll see silver vertical up. It's a matter of value versus fiat paper currency.
It's that simple.
The sheople of the world are slowly but surely awakening.
Shorters beware.
For all of you who haven't been following silver for the last decade of so, many of these guys have been mum about silver. Chapman, Willie, Rogers. A lot of the guys we all respect have been afraid to talk about silver for years. Maybe like Warren Buffet, they've been "persuaded". Silver is easily going to 4 digits irrespective of inflation:
Silver For The People
http://www.youtube.com/user/BrotherJohnF?feature=mhum
Correction around $50.00
Sell Ag and BTFD
Double up Bitchez!
"Psyuk Mai Dhique"
What's up with the black box bro? It's all cool 'round here. Plus "i think you're missing a my" in your name. or maybe that's a me.
From the look of it Bernank has mailed out the party invitations to the flameout ball of 2011. Reminds me of 1999. Ya see, we can't just hand money over to Wall Street. We gotta do it in style, making it look like just a wager between gentlemen of the upper class.
But hey, there's always the crumbs that fall off the table and they go a long way toward feeding the middle class. After all, they're supposed to be the ones working for a living.
I'm going to laugh my ass off when all the pension funds go balls deep into PM's and the carpet is pulled out from underneath them!!! It would seem that funds managers don't learn from their previous debacles (ie oil, housing, etc.). A fool and his money are easily parted... then the gov't will swoop in and save the day (suspend your rights), when the masses cry for help... yea...
I was in the salvation army today and there was this guy raising his voice talking about how gold is steadey and the dollar is loseing value...
I was like Holy shit....
Hmmmm, sounds like the makings of a Great Depression style wherein it was time to bail once the paperboy, and shoe shine guy were selling stock tips on the streets...
This game is rigged. Its to suck as much liquidity into the system as possible before handing everyone their ass. Don't think for a moment that this has not been planned...
The First Great Depression of 1929 people ran the banks for Dollars after the first crash. There was a slight recovery and then another crash far worse than the first. People rejected Dollars and went for the Gold. This led to FDR confiscating Gold in an attempt to force people back to Dollars as Gold was becoming a competing currency. Sound familiar? We are now repeating history with the same results. Soon everyone will be calling this the Second Great Depression and Gold and Silver will compete with the Dollar for a while, and then the Dollar will die.
I was in the salvation army today and there was this guy raising his voice talking about how gold is steadey and the dollar is loseing value...
I was like Holy shit....
I think Jim Rogers doesn't understand the gravity of the situation.
During the last bull run for gold, we saw a 17.5 fold increase in the price of gold.
Our current bull run is only 5.5 times off of the bottom.
We are just getting warmed up:
http://goldsilverrealestate.com/?p=327
Without gold they were nothing. They built a house of straw. Their leaders talked and talked but could not stem the panic. Their world crumbled. The cities exploded. A whirlwind of looting, a firestorm of fear. Men began to feed on men. (zombies. bitchez) On the roads it was a white line nightmare. Only those mobile enough to scavenge, brutal enough to pillage would survive. The gangs took over the highways, ready to wage war for a tank of juice. And in this maelstrom of decay, ordinary men were battered and smashed. Except for one man armed with an AK-47, and a Honda full of silver...
Yea... see how far that gets you... the only valid item in that whole group is the car and gun (mostly the weapon)...
mad max bitchez
Nice Road Warrior expository speech.
Good ol Jim, keeps saying the same non-specific jarrgon over and over in every interview. He should just have a recording rather than do all these interviews. He litterally repeats the same sentences no matter how specific question is.
Does anyone study what Adam Hamilton at Zeal says about the silver top? He uses his "relative" function to chart bull markets. Since '03 silver has traded within .95 and 1.40 times the 200MA. At $44, we're at 1.46x...which *should* indicate a too far, too fast blow off. Actually that was supposed to happen, according to his estimates, at around $39. Previous blow offs have been around 25-30%, which is an interesting coincidence to all the other "warnings" I've heard recently (Christian, etc). More here: http://www.zealllc.com/2011/silvtop2.htm
The action has been so hot lately haven't been able to buy since $37. Got sell triggers on some stocks that should coincide with this "blow off", but damn me for trying to peg this bitch, right?
Let me break it to you slowly: PM's aren't rallying just for spec this time. And what started out as an inflation hedge has morphed into something way bigger. PM's are expressing the concerns over the currency and credit of the United States and the uncertainty over the outlook for the dollar as global reserve currency. That's at the core, and that's not a small or temporary concern. It was simply unthinkable and ludicrous only 3 short years ago. And there are other supports to the gold price as well which we've covered in detail here at ZH. The great attempt at de-monetizing gold has failed. Nobody with a printing press can be trusted with the fate of the world.
+1
When there's a medium of exchange and store of wealth that is stable, then I'll think about moving out of silver and gold, unless they become that medium, then I guess I'm sitting pretty. PMs don't really make for a convenient medium of exchange in today's economy, so I don't think we'll see an end to electronic bank credits. What is needed is controls on the insanity, and freely traded metals that act as a store of wealth.
Nobody's thinking we'll walk around with sacs of gold to do shopping. But gold will back the currency once again, whatever that currency will be. It's already been discussed. The simple point is this: as long as currency and exchange is pegged to gold then you can't just "create wealth" like pulling rabbits out of a hat. The digital currency will represent fractions of units of gold, but the final sum remains stable. It's just like making a rule that you can't have more nickels, dimes and quarters than there are dollars as a total sum if you held dollars constant. You could mint 100 pennies, or 200 half pennies, or 100,000 thousandths or whatever it takes to be practical as long as the final sum was the same.
the thought has occurred to me however that we "may be walking with sacks of shit to pay for things" tho. i'm going long perfume as my "flower power" trade is still alive and kickin'.
I'm going to be the contrarian again and tell you folks that you're living in Tulipmania and that there is no way that metals are going to keep rising forever. It's all too obvious a trap by the folks at Goldman--you can't have a good bubble without capturing the imagination of the general public. You've been warned [again].
Nobody says the silver price is going up forever -- but after years (decades?) of price supression it's merely catching up to where it should be. Let it catch up gracefully!
Silver is still not even a 1/3 of it's inflation adjusted high of $140/oz. Let that sink in for a minute.....
And, in the last two decades, silver has experienced increased industrial electronic demand like no other: solar panels, cell phones, computers, etc., forming a nice floor under the price.
Jim Rogers last year said to buy silver over gold -- we did. The son of a bitch was right.
The tulips are being dropped from Bens' helicopter. When cabbies are telling me about buying PMs, I consider selling.
Nobody cares what you think, douche. Put some money down and go short then.
The bell will be rung when investment experts in the main stream financial media begin rationalizing the precious metals' ascent higher, calling it a no-brainer buying opportunity because, well, they're not making anymore gold.
Parabolic moves always collapse.... yep, and years of price suppression leads to parabolic moves.
Parabolic like the usa national debt? Or parabolic like the fed's balance sheet?
If it hits a mania and crashes, I'll still have my physical. I buy it with cash, not margin. After it crashes, it would quickly recover, because there is nothing else to turn to.
i liked the way Jim handled the first Q abt the $1Bn. gold buy. he refused the invitation to get excited or hype: "What tipping point?"
his silver advice is fine, and steady, also. i laughed tho: ok, Jim, the price geoes to $125, but the dollar does not collapse. so, Jim sells a ton of silver for FRNs. and two days later, the dollar collapses!
JR: No, not yet. But I’m worried about silver. If silver continues to go up like it has been over the past 2 or 3 weeks, yes, then it would get to triple digits this year. And then we’ll have to worry. It’s not parabolic yet. I hope something stops it going up in the foreseeable future and we have a correction. There’s never one in history that hasn’t popped.
Now, maybe the US dollar is going to become confetti in 2011, and if that’s the case and silver goes to $150, then obviously I wouldn’t sell my silver. It would be the US dollar which is collapsing. But if silver goes up the way you’re talking about without currency collapse, I would be very worried.
FSR: So that’s the bottom line, those who have been holding on to precious metals for the long term need to watch where the Dollar is to decide whether it’s time to sell.
Umm..if the dollar is collapsing, why would you get nervous and sell the most fungible substitute currency? What the h*ll would you sell silver for - dollars?
This is more evidence that the psychological hold of fiat currency, no matter how tattered it is, is enormous. I see it everyday. Folks have no idea what is happening, and chalk it up to another cycle that eventually will revert.
the problem you got is specs in silver, pretty simple, same with gold and copper. Mostly EFT's. I wouldn't discount a panic flash crash like may 6 2010 to correct all markets. Funds have been piling hige amounts into EFT markets on commods, to hedge against USD weakness. You see a sudden switch. It will hit hard. Holding physical is wise and forget about the speculation.
I'll probably get slammed for this - but I think Jim's really not right on a few things. He's generally a good guy, but he doesn't make a lot of sense in some of the things he says. E.g. take this statement "All parabolic moves throughout history, there’s never been a parabolic move which hasn’t collapsed in any asset."
Well - yes there has been one Jim - stocks from 1982 to 2000. The DJI went from 822 to 10,000, in quite a parabolic move. Since the, aside from two brief forays below 8,000, it has remained flat - certainly not what I would call "collapsed". Maybe it will eventually collapse, but if so it'll be at least 12 years after it's end-of-parabola peak in 1999.
I suppose it depends on what you consider a "parabolic move".
3-6mth is parabolic.
Jim is smart lives in Asia reads the writing on the wall. If Asia corrects, say China, then metals are going south hard.
If that's what he means by parabolic, then maybe so. Even by that definition though I'm not sure I would say silver hasn't gone parabolic.
http://silverprice.org/charts/history/silver_2_year_o_usd.png
Looks pretty dang parabolic to me.
if you are holding long term/physical you shouldn't really care. But gold/silver/copper are all spec driven so a major correction is due. I would just buy more on a dip. If teh SPYDR EFT market goes bellyup...
I love trader-speak. When there's a 'correction', the plan is to 'buy on the dip.' That means that a 'correction' is when the market moves in what you believe to be the incorrect direction.
And it's 'all spec' that the market is overbought, so a 'major correction is due.' Thank God you cut through all that speculation.
So here's a question to ponder: if there is a "correction" - not just from silver, but from ags, the Dow, and crude - where is that money going to funnel to? Take your time...
Dollars, or US treasurys??
That's like running into a burning building to salvage your flammables.
The market has been running away from Treasurys, why would it reverse?