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Max Keiser's Plan To Destroy JP Morgan Goes Mainstream, After The Guardian Posts His "Silver Squeeze" Thoughts
As Zero Hedge readers know, the reason why the US mint sold a record amount of silver American Eagle coins in November is unlikely a coincidence, and very possibly an indication that the recently disclosed plan as espoused by the MKs (Mike Krieger and Max Keiser) to destroy JP Morgan is working: to wit, if every person buys an ounce of silver, JP Morgan and its massive synthetic silver short position, will have no choice by the cover, face unprecedented margin calls, and possible lead to an end for the New York Fed's favorite bank. Today, Keiser goes mainstream, detailing his thoughts in The Guardian, which courtesy of its massive circulation is sure to reach far more readers to whom this idea is new. To keep a track of how well this plan is working, we suggest readers check in with the US mint, which frequently updates the amount of silver American Eagles sold on its website (link). The full Guardian article is below.
Want JP Morgan to crash? Buy silver, published in The Guardian
The campaign to buy silver and force JP Morgan into bankruptcy could work, because of the liabilities accrued by its short-selling
For decades, the world's banking system has been on a fiat currency
standard that has led to banks that are "too big to fail". They have
overreached their remit of providing loans and have leeched into the
political system, using our money to change the political agenda in ways
that boost bank management's compensation over the interests of their
depositors.
Over the past 11 years, the Gata (Gold Anti-Trust Action) committee has worked to reveal
the silver/gold price suppression scheme; thanks to whistleblower
Andrew Maguire in London, an investigation has been opened. As part of
the ongoing exposé, it has now become clear
that JP Morgan is sitting on what is estimated to be 3.3bn ounce
"short" position in silver (which they have sold short, meaning they
don't own it to begin with) in an attempt to keep the price artificially
low in order to keep the relative appeal of the dollar and other fiat currencies high. The potential liability for JP Morgan has been an open secret for a few years.
On my show, Keiser Report, I recently invited Michael Krieger, a regular contributor of Zero Hedge
(the WikiLeaks of finance). We posited that if 5% of the world's
population each bought a one-ounce coin of silver, JP Morgan would be
forced to cover their shorts – an estimated $1.5tn liability – against
their market capital of $150bn, and the company would therefore go
bankrupt. A few days later, I suggested on the Alex Jones show that he
launch a "Google bomb" with the key phrase "crash jp morgan buy silver".
Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.
Right now, silver eagle sales for the month of November hit an all-time record high and the availability of silver
on a wholesale level is drying up. The most important indicator is the
price itself – holding just under a 30-year high. With each uptick JP
Morgan gets closer to going bust or requiring a bailout.
Here's
how the campaign works: wealth tied to a fiat currency is easily
overwhelmed by wealth tied to silver and gold. And the world is waking
up to the fact that they have the ability, without government assistance
or other interference, to create a new precious metals-based backed
currency system by simply converting their fiat paper into real money.
This
campaign has 100% chance of working; it falls into the category of a
self-fulfilling prophecy. As more individuals buy silver and gold, all
attempts to replenish the system with more paper money will only cause
the purchasing power of the silver and gold to increase – thus prompting
more people to buy more. Any attempts to bail out JP Morgan would have
the same effect. If the US Fed was to flood the system with bailout
money for JP Morgan to cover their silver short position (as they did after the collapse of Long-Term Capital Management),
more inflation will ensue and the price of silver and gold will rise
more, triggering more purchases. A virtuous circle is born.
If
anyone is interested in helping to crash JP Morgan, buy silver. In the
end, it's about transferring wealth back to the people from where it
came.
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LOL
Age was all I needed to avoid "accidents" of the 3rd kind.
BTW can someone explain to me why my picture of Silver Eagles, along with the exhortation to Buy, Buy BUY, would garner junks?
yeah, but one can only sympathize with the plight of the poor young testosterone laden dudes in the video. yep.
ommmmmmmmmmmmmm
ommmmmmmmm
if that doesn't work just think about janet reno for awhile or something...
as to the second part about the junks, maybe johnny bravo has relegated himself to stealth junker status - at least until there is some price correction in the PM's.
or if not him maybe because there weren't enough of those coins in the picture???
It seems junkers don't need any logical reasons anymore. Its meaningless.
Ms Ag, what a breathtaking centerfold
Do you have Ms Au's December spread yet?
Ahh...metal porn
Know you guys hate good news and maybe that's why I can't find anything on ZH about housing sales. In case you're interested, the world still hasn't ended:
http://finance.yahoo.com/news/Wall-St-adds-to-gains-after-rb-3155415027.html?x=0&sec=topStories&pos=main&asset=&ccode=
Things are looking better every day!!
Well considering you get your news from Yahoo!Finance spin machine Im sure youd be shocked to know housing sales are actually plunging, all time lows, WITH the price dropping and a 24 month inventory.
'OCTOBER Pending home sales surge?' LMAO! 2 month old news suddenly drives todays headlines? Since Oct, home sales have PLUNGED, yet are always reported to be surging....while actual sales continue to plunge to new lows. Wise up, Skippy.
Keep your eyes open Skippy Jr. Sales will be realized. Not everyone is without a job and homes are being bought. Just keep an open mind and watch. Things are getting better all the time.
Things are getting better all the time.
Are you saying there will be no more dips in housing? Where have I heard that before?
Those are projected numbers and not realized. Those numbers always go down because many of the deals fall through. Actual sales numbers are still at lows. The problem here, is we read more than one source and do due diligence.
OH right! Housing bubble soon to resume because of the 'pent up demand' among the 20 million newly unemployed, foreclosed on bankrupt americans....or is that 'TENT-up'??
ATTENTION:
Max Keiser just came out and said for everyone to sell their Ag for FRN's and buy real estate in San Bernardino, CA.
This is great. I'm aboard! Already liquidated and eagerly looking for the very few deals out there that are left.
I can't wait to start flipping again!
Plus, the 99'ers are longer receiving their "anti-riot" payments; hmmm.
The other side of the coin: http://www.businessinsider.com/new-housing-crash-trend-and-obvious-sever...
Every coin has a couple of sides. Remember this:
There will be no fallout from the foreclosure fraud. Lawyers will make a lot of money; bankers will make a lot of money and those in default will be moved eventually into a section 8 rental. The Fed WILL keep the banks (here and in Europe) whole.
You guys have been saying for well over a year that things are going to collapse and still they haven't. In fact, things are better now than then! I am still looking for the $10 loaf of bread as predicted here (in hyperbole I'm sure) on 11/4/2010. No hyperinflation has hit the streets yet and if this site's track record is any indication, it will not.
Come on, look at the other side. For those unskilled workers, well they're looking at a lifetime of governmental dependency. For the rest, the economies of the world will recover (already on the way) and life will go on.
No riots, no end of fiat currency; just one grand species muddling along as the blue ball hurtles around the sun.
Gibbon was just a fussbudget, eh?
You might want to check a few more sources- B of A just lost a case as it could not produce the actual promissory note. Yes, the FED will keep the banks whole, but what if the people don't?
The movement into actual assets and away from fiat has tremendous consequences. It doesn't matter how much money you print, if no one wants it.
I would love to see a growing, vibrant economy, but that requires the production of goods and services- not the printing of dollars, euros and yen. If you do not realize this yet, your future is going to be interesting.
That we understand this should be a clue for you- best of luck.
Keeping banks whole with money that will be worth nothing.. Trashing others around the world will only work so long then relative values kicks in and your toast anyway. Market to the stratosphere, too bad the dolalr will be worth nothing. The PTB are working toward a transitionary event and I do not think we are invited.
Unfortunately, you make some valid points. Those involved with fraud will be greatly rewarded. The Fed will print whatever amount of money necessary to keep the stock market "alive" (looking alive) and banks (cough) "solvent" with enough "filthy fiat fuck money" to keep them going as well when the public gets mad enough to do something about it and buy silver and gold!
But then again, a broken clock (you and your fraud buddies) are right twice a day (the past few weeks until now)...
I hope you're being sarcastic. If not, I'm sorry for you. The "good news" in housing will occur when a bottom is achieved and prices reflect economic reality. Due to shadow inventory, fraud issues, etc...that looks years away at this point.
Why would you make the unfair comparison of us feeble-minded ZH contributors and readers with the powerhouse investigative journalism and research of Yahoo Finance?
*sarcasm off*
Now go home and get your fuckin' shine box.
Oh, for sure the power of ZH is amazing. You guys are well read and very bright, but ultimately, you have just been wrong about the economic events around the world.
Tell you what, I have made lots of $$'s NOT listening to the market collapse philosphy of ZH. The MSM has a least been right in that area. As for silver and gold, good call by ZH.
I know this site is fond of its own "sheeple" but I will not go with flow here. I need to see results or I will call it like it is. And so far, ZH is an incredibly unreliable source of predictive quality when it comes to all things economic of fiscal. Especially the commentors.
So go and join those who refuse to think and just follow the ZH herd. The cliff you shall fall from is the one labled "opportunity cost"
Happy holidays!
Wow, he gave up pretty quick. Congratulations ZH'ers, the trolls are being swatted like flies. At least Johnny Bravo had stamina. These new guys are just pitiful.
I dunno, he seemed earnest enough... Predictive quality is NOT necessarily a good reason to be reading ZH -- you absolutely must DYO damned DD.
True, I am not here for the fabulous predictive quality of the site. I remain for the overall gestalt of those with brighter financial minds than mine.
but it sounds like you still have dollars...
Good luck trading with the HFT robots, hope they don't figure out that silicon-based life is "destined" to rule over carbon-based life.
great stuff. However the comments on Max's article are a good demonstration of the average Guardian reader. Real howlers these British lefties! Just don't get it...
I did exactly Max Keiser said 2 weeks ago, went to a coin dealer and bought a silver eagle coin.
They were out of most silver and gold , there was no silver or gold bullion's , all sold out. They left only few eagles and some numismatic value coins.
There is a real physical short of precious metals in the market.
You can feel the squeeze in the real market if you go to any dealer.
Then again, you could buy a few boxes of 500 coins if you like:
http://www.onlygold.com/Coins/Silver_Eagles_Ounce.asp
You guys gotta stop saying "They're running out!". You see, what happens is the price goes up. That way, they can get a hold of more.
That said, I can foresee a situation where the price goes up quite quickly.
The site you refer sells minimum 300 coins.
it costs about $9,000 or more purchases.
You can find if you need to buy in big numbers but if you want to buy few bars or coins, its not that easy..
check this out :
http://www.apmex.com/Category/1188/Engelhard__Johnson_Matthey_Silver_Bar...
They are out of stock for 1 and 10 ounce bars, only 100 ounce available( thats for now ).
In Canada, a good place to buy silver is Border Gold in Vancouver. I find the best value are the 10 oz. bars as they have the lowest premium. I bought a bunch in August through these guys and the cost was $20 Cdn, when silver was trading at around $18.50 and the dollar was 95 cents US.
The $20 dollar price included shipping and insurance and I had the silver within two days (interior of British Columbia).
I have purchased PM's through the Royal Bank in the past and tried again last summer only to be told they were out of silver.
Thanks to whoever it was that posted about SLV options a few months back as I investigated and purchased Jan. 20, 2012 calls. Even if it is paper, it is hard to pull out RRSP's to purchase all physical. They have been a triple so far and have over a year left on the date.
But, do not you think that they (FED / US gov) can suspend selling physical metals or outright criminalized purchase/posession? Besides, banks are not obliged to take orders on physical metals. Bank or even mint can always tells "out of silver/gold sorry". Silver is $25, but you cannot get it, period. "Problem solved".
That would work if you didnt actually have to use silver in electronics, solar panels, anti bacterial bandages and clothes..... etc etc.
Not to mention the bankers looking damn stupid when people buy direct from smaller mints at double the COMEX price.
If the COMEX wants to retain ANY credibility its better of letting silver find its level then try some crap like setting prices.
Well... they can make silver/gold "a controlled substance". You will need special permission to buy it (in the name of "national security", obviously, since "terrorist" destabilizing markets for precious metals).
Why are all the people that are fearful of the government criminalizing PMs never fearful of their freedom being stolen or their currency being debased to zero? How well does criminalizing anything go for the governments? Just look at the hundreds of billions wasted on the "War on Drugs" and prohibition. All your thoughts are belong to us!
I am fearfull of my freedom being stolen (criminalization of posession of precious metals is "theft" of freedom in its finest), and I am fearful of "currency being debased" (I have some physical precious metals). I do not want to wake up one day and read something akin to FDR confiscation of gold in 1933.
On the side note, I am very much dislike these campaings in regards to promotion of ownership of precious metals. They are counterproductive because if population at large will own any substantial quantities of silver/gold, goverment will definetly confiscate them. In my opinion, it is in the best interst of any precious metal owner that "public" be ignorant of them (owners and metals).
People seem to love the confiscation argument. Like it worked. It is estimated 20% turned in their gold in 1933. Confiscation never works, because people will not go along. They will leave it buried and unused until they can or in black markets.
The issue is faith in the fiat currency. This is starting to fray at the edges.
As much as I admire Gandhi, in the modern era, there has to be blood to change the world. Many comments about Keiser's article in the Guardian come from cowards. Sorry but banks are powerful. In order to get rid of them, suffering is mandatory. Sure if [or when?!] JPM goes under, we can expect a lot of suffering but true freedom doesn't come cheap.
When will they announce a 15% surtax on silver/gold purchases?
buy buy Blythe...
tears are rolling for thee
"a regular contributor of Zero Hedge (the WikiLeaks of finance)."
That's awesome!! Gotta believe that TD is a "little better put together" than Julian, however, and Julian has no Marla.
Plus it doesn't take TD 3^999 days to release info after its announced.
It's conspiratorial, Jamie Dimons' hair color and silver bullion.
Banks are flying today.
Looks like "The Fix Is In"...
LOL....
The "fix" was first denied, ridiculed, and now proven and admitted... and is now a backward looking indicator held as self-evident.
Long or short, fight the tape or not... The joke is calling this "fundamental economic recovery"
Hey Robotsuckmyballs, does your time horizon EVER extend more than 24 hours, past or future? You are such a shortsighted and blinkered douche --- just another shallow, venal, ADD-afflicted daytraitor with no morals and no soul. But nice to see yet another of your vacuous and trashy posts well on its way to 20+ junkings.
Um wait so, are you still short?
The markets aren't going down, so cover your losses and try and understand why he posts those charts and what they mean.
Sorry to hear that the current reality of what's going on in the market(s) does not jibe with the way you think reality "should be." I agree, but denying current reality will get you nowhere!
If by "reality" you mean a zombie market as pumped full of painkillers, stimulants and psychotropics as Strom Thurmond in his last decade of office, with 14 trillion swords of Damocles hanging over it (and dozens of trillions more hidden ones), kept alive only by the massive, nay, overwhelming corruption, fraud and propaganda of a sociopathic elite Hell-bent on destroying every trace of prosperity and liberty in this nation except for the priviledged few, then maybe yeah, I will decline the invitation to join the Jonestown koolaid line.
Funny how perspective changes things.
http://stockcharts.com/c-sc/sc?s=XLF:$SILVER&p=D&b=5&g=0&i=t21602274401&r=9054
We need to stop it with the US defaulting and any of the TBTF's going down. It ain't gonna happen... I've been waiting for over a year and a half for the "correction to take place", and for the system to flush out the crap so that a robust and healthy market could emerge... I didn't anticipate the QE's and the insane desire of the FED to levitate the markets to create the false wealth effect. I also didn't anticipate the degree to which the FED would do ANYTHING to keep the TBTF zombies alive. So the MK's rally the troops and everyone buys an oz of Ag and JPM teeters and possibly gets another stake through the heart... Guess what! Here comes Dr. Benkenstein maniacally laughing, sending the helicopter to the stormy clouds and hits them with another jolt of juice and yells,
"It's alive... It's alive"
Short of a black swan swooping in, and I mean a BIG black swan, This act could go on for years... Time to move on and figure out how to game the present system, and start making some money again.
Worst post ever, beat yourself mercilessly Tyler Durden boss office style.
http://www.youtube.com/watch?v=Fk2fDJPS6aw
Meanwhile...back at the insane asylum... People like you that were buying precious metals during that whole "year and a half" (whoa slow down there Rumplestiltskin) have made out and raged against the machine.
The best way to "game the system" at this point, is to buy PM's and go on strike against the market(s) by NOT participating in them!
If you really want to hurt the system give silver coins away as Christmas/Hanukkah/other holiday gifts. This means that your friends and family will now have a vested interest in the value the coin/s you gave them. Don't blow your fiat wad on breadmakers or Tickle Me Elmo, give a gift of true value.
A silver holiday for all!
True
Bottles of Absinthe are good gifts as well (you KNOW the green fairy wants you!)
That's a nice idea.
Euro is about ready to nose dive..!!! watch ol virgil hammer this one.
I voted for real change and accumulated silver eagles over the last 3 years!! Change I can believe in and I'll enjoy jpigs demise along with other zero hedgers who joined in!! rat basturd viper squids! Kaboooooooom!!
I'm sure we will be hearing from Cramer tonight..
"Housing has bottomed"....
there goes RT and his 15 minutes of fame
LoL, yeah I can't wait for those words of wisdom.
I wish I knew what these charts meant. Robot Trader, you are funny.
They mean that RobotTraitor is a cowardly sellout to the kleptocracy, and is happy to serve as an apologist and collaborator for the same.
Or, it could mean that RoboTrader enjoys poking folks like you with a stick to see you running around in a frenzy!
I believe that there is a word for people who consistently do that kind of thing on internet forums: TROLL.
Even working down under, local dealer has limited 5 oz nothing bigger just 1 oz.
Perth mint web site is full of "not available" stock.
Ebay buddy of mine (thats his full time job). Did an advanced search on completed listings for 1 oz silver coins, many of the large sellers have sold hundreds from single listing in the past couple of weeks.
Thats US Ebay not ebay.au
eBay is my single source for American Silver Eagles.
Last batch was 27 coins averaging $27.25 each.
They came in the mail on Monday with shipping a flat $10.
I've posted a link to eBay sales analysis site about a dozen times before.
when we spoke 10 yrs. ago with Swiss Banks to diversify client holdings into gold, silver physical... we were literally thrown out of board rooms. When we told them to diversify into junior mid caps we were vilified. The cycles NEVER change : laughed at, villified, then accepted.
I'd be interested in reading an article drafted by someone more educated than me on "The Day After Tomorrow: What Happens After the JPM Silver Crash." Any takers?
I would love to read that also. I'm not quite sure what will happen if there is a silver shortage. I imagine then you will soon see a gold shortage, jewelry shortage in the stores and then people go after anything physical they can? I remeber going into a store when there was an ammo shortage but I think silver is much harder to make than bullets.
Here's what will happen. Anything they can do. First they'll manage expectations. They'll try to convice us that there will be race riots in the street, fraud and theivery of every sort. Then they'll call all their friends and try to make that start happening. Their friends will get on IBM computers in IBM offices and fire up fraud bots. Their friends will start racial policies at huge banks and huge corporations and start stoking the fire. They'll look for any weak link like north korean presidents psychological makeups and start attacking them.
Basically the same old games and bullshit that have been played for this entire 30,000 year cycle. Which is why when you die. You need to look your fucking guide in the eye and tell him/her that you aren't telling them shit about anything. That you don't want to be understood and to keep the fuck out of your business. Because anything you tell them they'll use against you. So stop jusifying yourself and explaining yourself and just do what you thnk is right at any given moment. And just like the Bushe's don't give a fuck if you can get away with it or not or if it will bring some ordered arranged calculated conformance response.
Wow. Freaky. I decided to put my money where my heart is and checked my favorite coin dealer in Florida. All the silver eagles are sold out. They move millions a day and now have none to sell.
Yea its the same here I like to buy locally, dealer only has short supply, no eagles just some ingots which I dont really want.
Someone here needs to make the bearish case for silver. I am not informed enough to do so, but IT NEEDS TO BE SAID.
Whats this? Harry Wangers little brother?
You want the case against buying silver made, but cant do so yourself? Public education I presume?
OK I can make a case against silver and PM's in general- Its been confiscated before and made illegal to trade or posess, so it can and likely will be done again. In a real economic breakdown, a bag of silver and gold coins will likely just get you killed. Whatever 'the price' of said PM's are will mean nothing in a Road Warrior societal breakdown. And ya cain't eats it.
But you can eat lead. Which helps protect the Silver and Gold stash. :>)
First of all how likely is this total meltdown scenario some people here envisage? I can't believe it is very likely. Even if things did get desperate, suppose you had a bunch of gold coins, and your family needed food, well, you can't very well ask for exact change, can you? So you might end up trading a gold coin for a can of soup to feed your kid. I don't think it makes sense.
On the other hand, I know several Vietnamese immigrants whose stories of escape from Vietnam always begin...my mother gave me bars of gold to hide in my clothes. These are people who were wealthy in Vietnam and had to escape as "boat people" during the war. It's hard to imagine the tables turning like that and Americans being the ones in desperate straits but I don't know, maybe it could happen.
Did you see how nuts people get when its just marked down Chinese crap theyre buying? Now imagine sudden food riots at empty grocery stores.
Sheep, you forgot how expensive it is to store and how you'll never know whether you've got tungstun instead.
If you believe we are on a sustainable path and that systemic shocks will decrease, then that would support a bearish case for silver prices. The bearish case for silver would be supported if less "fat tail" events will occur, personally, I don't think this will be the case.
The other question relates to opportunity cost and having capital tied up in an asset class if it could be performing better elsewhere (will gold perform better, what about soft commodities)?
Then there's the risk that the government will confiscate it or heavily tax physical metal purchases at the point of sale or at other points =)
Even a return to a sustainable path and no more systemic shocks would still be bullish for silver. Silver has a fundamental supply/demand problem that has been caused by years of price suppression. Said price suppression has almost totally run down world stockpiles of silver, and regular annual usage is 25-50% more than that which is mined, and the demand in industry is inelastic.
I have said on several occasions that silver is the trade of the millennium. Own as much as you can in your hands, and it will carry you out of poverty into the lower upper class, or from anywhere else to the oligarchy. Even absent appreciation of gold and debasement of dollars, and collapsing economies, silver will likely reach parity with gold during an industrial panic. If things are dandy elsewhere, that means silver will briefly hit $1000 as gold will fall as people's faith is restored in the dollar (fat chance of that). Depending on the amount of the shortfall, it might go even higher than that. This is not without precedent. The purchasing power of silver was 2-4 times that of gold in Ancient Egypt. The whole time between then and now, both gold and silver were stockpiled, with very little of either consumed until industrial and commercial uses were discovered for silver, which have now totally consumed the stockpile that was accumulated between 5000 BC and 1910 AD.
Trade of the millennium.
Blythe Masters can answer your question. Give her a call.
What are reputable, cheap online sources for silver/gold bullion?
ebay is cheapest and easiest. Just make sure the seller is reputable.
Try Apmex, Bullion Direct, Colorado Gold and silver, Tulving, Scottsdale silver. All good.
Ebay can be very good for buyers, but you have to be careful. Lot of fakes and scams.
http://www.apmex.com/Category/503/Silver.aspx
http://www.gainesvillecoins.com/category/293/Silver.aspx
http://www.tulving.com/goldbull.html
APMEX.com
I purchase online through Apmex.com and have been very pleased with their customer service and price.
I would like to find a decent brick and mortar dealer here in the central Texas area.
for your entertainment:
http://www.optionsninja.com/OWP/buysilver.html
barking up the wrong tree with that poster child
You think they would of seen what happened to the Hunt Brother's attempt to mess with silver. Screw JP Morgan, just a criminal enterprise. I am convinced they are manipulating the Dow. The ups and downs, smells like what they were doing to the silver market.
I think people need to be careful what they wish for. As much as I look forward to bankers and politicians being destroyed this will also mean total chaos and anarchy. Surely the collapse will come before all the "commoners" get their fair share of gold and silver. You the new millionaire on the block because you've been storing old coins in shoe boxes will not be a popular guy. I know this is inevitable most likely but I'm not looking forward it. Making it happen violently and suddenly might confound the problem...
I look forward to bankers and politicians being destroyed this will also mean total chaos and anarchy.
Anarchy means "no government." So if you "look forward to bankers and politicians being destroyed," then you are seeking anarchy. Anarchy and chaos are not synonymous. Anarchy is a good thing.
"The movement that I'm in favor of is a movement of libertarians who do not substitute whim for reason. Now some of them do, obviously, and I'm against that. I'm in favor of reason over whim. As far as I'm concerned, and I think the rest of the movement, too, we are anarcho-capitalists. In other words, we believe that capitalism is the fullest expression of anarchism, and anarchism is the fullest expression of capitalism. Not only are they compatible, but you can't really have one without the other. True anarchism will be capitalism, and true capitalism will be anarchism." -- Murray Rothbard
After the Great Implosion, the local Sheriff and Police aren't gonna receive any more pay checks from TPTB! Time to place your PM's in the local bank vault (you have made friends with the local banker haven't you?), and hire the Sheriff/Police to protect you and maybe even the whole town! You've solved their problem, AND they're now on the job and chasing away zombies from the nearest cities.
help me out here, silver has gone parabolic, and so i buy a coin with a notional value, then i am always guaranteed that value. so with silver at $30 why doesn't the US mint print 1OZ $25 dollar coins?
I found a 1oz coin with notional value of $20 in Canada, freshly minted, but they cost $100 each? So it seems as though government is sticking to this story that the price of silver (and gold) is really much higher than their currency value. It seems like they are trying to screw us coming and going. If silvers value falls back down to six dollars for instance, the premium I paid is out the window, and I am stuck with 50 cents (in the case of US coins) which in the event of a currency shortage (see velocity of money) might actually be pretty decent. and of course if the coin is in Canada dollars, then how will that trade against the US dollar.
Third thought, bothering me, if the EURO splits into a Northern and Southern currency, will North America be forced to adopt a similar form (AMERO) to compete, or does this just prove the wisdom of sovereign currency?. and if a regional currency zone is created will that save the defunct dollar?
are never meant to be used at their notional values. best one is canadian maple @ CAD$5 but still way off its metal value.
I found a 1oz coin with notional value of $20 in Canada, freshly minted, but they cost $100 each?
Documentation, please.
Tanzanite snowflake, $20 coin, retails for $99.95 Royal Canada Mint.
A flag, for that, what the hell?
Well that's an odd coin. I personally don't care for it. But note that this is not merely a 1 oz silver product; it includes six embedded gemstones. It's not the equivalent of a silver Maple or Eagle.
http://www.govmint.com/item/Canada-2010-$20-Silver-Tanzanite-Snowflake-Proof/174829/123
why not buy 1oz silver maple leave with $5.00 face value it sells for about $31.00 give or take.
I just bought 20oz of silver eagles from apmex on their sale yesterday. they are having a 12 days of christmas sale on their pm's
delete duplicate
Buy US Nickels. They cost 5 cents. Will never be worth less than 5 cents. And have a metal melt value of 6 cents. That's a 20% premium!
Break the Ponzi! Buy Nickels!
Ok, I'll take a shot. The reason that the US mint does not mint a 1oz silver coin for a value other than one dollar is the coinage act of 1792 defines a dollar as 1oz of silver. What you commonly refer to as dollars are in fact Federal Reserve Notes. They are a bearer note from the Federal Reserve Bank, a private chartered cartel (Federal Reserve Act 1913) that issues paper notes in values they are free to designate with no connection to actual coinage or value. The value is imaginary. All countries do the same thing thru their CBs.
You buy PMs as a form of wealth preservation. Understand that the value of PMs (specially gold) is stable in comparison to purchasing power. One ounce of gold today buys similar goods and services than an ounce of gold 2000 years ago. The change in "price" is as compared to fiat currencies. So, barring government or bank manipulation (some would argue a redundant distinction) you can trade your PMs for whatever form of fiat or money exists in the future and retain your purchasing (value) power. So, if you are currently paid $30 an hour, those $30 FRNs will buy you an ounce of silver or $30 FRNs in goods and services. In 20 years, that hour of work, if saved in silver or gold, will still buy you the same goods and services while that hour of work saved in FRNs will buy you substantially less.
Overall, I agree with your observations but let's correct a factual error:
The 1792 coinage act (never rescinded) specifies that a dollar is 371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard (90%) silver. In other words, a dollar equals .77 ounces of silver.
Hence, the Morgan Silver Dollar
$22.0590439926 is the total melt value for the 1878-1921 silver Morgan dollar on December 02, 2010.
And you better make damned sure you get that full 22 dollars and 5.90439926 cents from the dealer when you sell!
Significant figures, Rocky, sig figs!
(Sorry, just being a smartass! You know I almost always agree with you.)
Are significant digit nazi's above grammer nazi's or below them in the dante's inferno.
Doesn't matter. He deserves it!!!! Get him!!!!
Ain't me who is the digit nazi:
http://www.coinflation.com/silver_coin_values.html
Sorry for dissing my favorite coon.
I will throw a few extra chicken bones in the trash tonight by way of apology.
Enjoy!
.
Sorry, but in the future, Silver and Gold will be measured by weight (probably in grams), until the US Govt. and Congress resume their constitutional duties to mint Dollars in specie.
I'm really surprised that The Guardian published that. Kudos to them.
Call it ironic, and just a coincidence -- in So Cal Chase has been advertising on the radio (heard it a couple of times yesterday) a $100 credit if you open a new business checking account. The funny part, it is one day only -- December 6th. Would love to believe it is an attempt to garner deposits/assets prior to December 7th, the proposed bank run. ;)
Homework assignment: Crash JPM. Buy Silver
Die JPM, DIE!
They are going to have to dress gold up in breast implants clit rings, nipple clamps and victoria secret underwear to take the pressure off the silver market. It's going to 1500 by christmas and I have to sell an ounce today.
Noble idea, and I'll be participating in any case. Unfortunately some folks still don't understand what TOO BIG TO FAIL means. JPM isn't going anywhere.
All roads lead to Rome?
The sun never sets on the British Empire?
All things must pass. Even a stone pyramid won't last forever!
Gold and silver heading higher while massive POMO flooding is ongoing is all the proof anyone grounded in reality will ever need to see that the biggest threat to the elite is a growing willingness on the part of larger and larger %s of the population to divest from fiat currency.
This event is an economic and political lesson real time.
In fact, I think it can be credibly argued that Bernanke is accelerating and exacerbating the trend.
Will genuine Federal Reserve infighting, and maybe a mutiny that overthrows Bernanke and Bernakenomics, result?
"We'll see," says the Zen Master.
keep your eye on the Palin/Soros unholy alliance. Cease and desist.
Explain your point. Show your sources.
I have no documentation but I have read that Palin has an advisor who is on the Soros payroll. Just sayin', but it really wouldn't surprise me.
And silver goes parabolic on news that ZH supports Max...
For me it's clear we have entered the next fase in
this amazing PM bull market.People starting to fight
on who was first on some idears.Just want to say
the knowledge about monetairy issues exist for
thousands of years and is no-mans property.Max
just materialised the fight against the banksters
and deserves all credit for it,tnx max you are our hero;love your show.
The arrow has been fired and aiming for the banksters
achillies hiel,love to see them bleeding to death(slow or
quick make no difference)Ted Butler has been a lone wolf
on this issue for many,many years and is the biggest
hero of all.Ted,your not alone anymore.Our numbers grow
exponantly every day.I am just lucky to have bought lots of
PM over the years,because of my PM coin fetish from childhood on.
"Fase"...??
What are you?
Still a child?
Sum fokes can't spel wurth a shirt, or hukd on foniks wurked fore me!
If you take your time and look through the comments both here on ZH, and in response to that Guardian article - you get a sober picture. Most of the people still believe that world governments and financial institutions operate in their own country's best interests. And god forbid to suggest that there could any kind of fraud or ponzi stuff running, until announced in MSM.
"What possible benefits are there for me in a precious metal backed currancy?"
"could you please just clarify precisely why it would be in anyone's interest to "crash" JP Morgan?"
That.
And then you had that Fed report. And then a while ago you had that hearing when Bernanke told Ron Paul that he wouldn’t be bailing out any foreign banks:
http://www.youtube.com/watch?v=bBGfJOA518o&feature=player_embedded
And there is a particular comment which sums it up:
"The goyim continue to be retarded and love to take it up the ass".
Not to offend anyone. Or rather yes, damn sure to offend each and every one who thinks "it's all a conspiracy"
I am not a Jew myself and yes i admit that i got a certain kind of hatred toward Israel (though i understand that not all Jews are "bad", i just can't help it). You know that line probably - "not all the Jews are owners, but all the owners are certainly Jews". You get my drift.
So. I applaud Max, really this kind of effort and more is what we need to get TPTB in check. But i can't help thinking that most of the population on the planet is ready to continue taking it up their behind. We got almost 7 billion people on this planet (6.885 and counting) and they just can't get enough of being had by their governments. Think about it. It's fucking scary.
Ok well don't admit your nasty anti-Semitism in public. You're right, it is offensive. And guess what, most people simply don't understand the world of finance. It is very difficult to comprehend. People are not "taking it up the ass", they just are ignorant. As a newcomer to finance, let me tell you, it is not easy to understand. People use a lot of jargon, the math is hard, it is all very unfamiliar. If you are so worried about the ignorant masses, go to Xtranormal and make some movies explaining things and post them to You Tube. Those cartoons are very useful for people unfamiliar with this world.
Ok well don't admit your nasty anti-Semitism in public. You're right, it is offensive. And guess what, most people simply don't understand the world of finance. It is very difficult to comprehend. People are not "taking it up the ass", they just are ignorant. As a newcomer to finance, let me tell you, it is not easy to understand. People use a lot of jargon, the math is hard, it is all very unfamiliar. If you are so worried about the ignorant masses, go to Xtranormal and make some movies explaining things and post them to You Tube. Those cartoons are very useful for people unfamiliar with this world.
They should.
We are long past the point when you can delegate the power to a limited number of politicians and think that they will "sort things out". You just can't do that. Unless you want to learn about the world around you, and keep track of what the political and financial elites are doing - what good are you? Power corrupts, it always did and it always will. Who stands to benefit from Federal Reserve actions? Keep asking questions and look for answers, it will keep on giving. You can't expect that someone will come along and help you to figure out. You can't rely on mainstream sources to tell you what's going on. Banks always win and people always loose. If it sounds like a conspiracy to most of the world, why bother to explain? They might as well keep on enjoying their life under a rock.
the anti-semite card is the biggest cop-out of an argument.
it doesn't matter what flavor of human we are talking about.
i don't care if you're jewish, chinese, black, white, green, yellow or whatever.
if the shoe fits, wear it.
Have you got something against folks who wear shoes? Are you angry because you asked for a shoe and they gave you the boot? That's no reason to make the well heeled your arch enemies. If you try to get them to bare their soles and toe the line they'll just stick out their tongues and leave you flat footed.
These straight-laced people bore me.
You just had to horn in. Why don't you take a powder? You're bunion me out.
Too corny?
Put a sock in in!
I think both of you slipper-y dudes are heels.
Where are all the good soles out there?
Oh well, I think I'll go have me another serving of cobbler.
Just tryin' to have a little fun, Gus. I thought I nailed it.
And instead, you just stepped in it!
We be jammin'.
Who'd Have Thunk?
That when the Mad Max era begins... Mad Max isn't an armed road warrior type...
But a wise cracking guy in a suit from Larchmont NY...
Exactly what good would come out of crashing JPM? Other than anarchists, who wants a world wide financial collapse? The super rich have their private jets, bullion and hideaways already well provisioned. The Hunts tried to corner the market to drive the price of silver up, JPM is allegedly trying to hold the price down. What laws are being broken?
How does JPM benefit by holding the price down? Assuming JPM is doing it at the behest of the Federal Government and are losing money in doing so, JPM would be ripe for a shareholder action. Why has none been filed? Lawyers are a dime a dozen these days.
I believe, if you check the numbers US silver coins being sold by the mint are going for a lot more than their face value and more than the market value of the metal. The Federal government makes money every time some one buys a coin from the mint.
JP Morgan Chase & Co. Common St (NYSE: JPM )
Real Time39.12
0.97 (2.54%) 11:58AM ESTI am not saying everything is fine. Congress blew their chance when they lent the banks money without any strings attached - that was a real crime. Reform will be very slow. It sucks, but blow up the system?
It would liberate the price of silver to its natural free market price (in fiat) once the manipulation is over. Bad for those of us that accumulate, but good for the overall savers. It would also scare the pants out of future manipulators that try to artificially warp market values for their profit.
There are a ton of laws and regulations / rules in the books that prohibit market manipulation. Its just that, if you are powerful enough, you get to ignore them.
They supress the price of silver by borrowing money at zero interest from the Fed (arguably from you and I since inflation is a hidden tax on savers of paper currency) and leverageing nacked short positions in the market. They buy contracts at x price and then force the price down with additional short contracts to x -y and pocket the difference.
They have also been known to work work with HBC. They buy short contracts, driving the price down and HBC uses the dips in price to buy physical. Then they dump the shorts, allowing the price to rise and HBC sells the physical.
Not really, ASEs are sold at spot plus cost of coining the metal. Making a coin is not free. There is an occasional premium imposed based on numbers available at the mint plus whatever premium the dealer charges you. If you don't want to pay the premium, you can always buy pre-1964 or bars/rounds and save the premium.
Other than anarchists, who wants a world wide financial collapse?
Anarchists are simply people who are intelligent and responsible enough to recognize their own individual sovereignty. They are the free and brave.
I can only question the character of those who luxuriate in their own bondage and villify those who pursue freedom for themselves.
Looks like we have a high calibre MK-47, with JPM in the crosshairs.
(spelled out MK = max keiser, mike krieger, 47 = silver's atomic number)
It's gold, Jerry, gold!