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Ongoing Dollar Devastation Sends Silver Above $31, Only $18.45 From Hunt Brother High
It is good to see that things are back to normal. The now irrelevant, and very soon to be former reserve currency is getting pummeled as stocks go up on 410,000 initial jobless claims nearly 2 years after the end of the recession (and $3 trillion pumped into this hollow scam of an economy), and a guaranteed plunge in margins, but more importantly the Precious Metal complex is back to being a high beta alternative to stocks. Silver just passed $31.10 and is set to close at its post Hunt-Brother highs. In the meantime, the highest intraday price since the early 80's is $31.2375 from January 3: we are less than two dimes away.
But fear not: the January 1980 high was $49.45. We have only $18.45 to go in nominal terms before this is taken out. At the current rate of dollar devastation we give it a few months.
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Blythe love you long time
Blythe says silver makes "Mee so whore-nay. If you got physical silver, you can have any ting you rike".
Buh no Berkie he too BooKoo !!
$31.22
gg blythe.
but my miners are really underperforming the fucking ETFs right about now.
is this a real g-20 meeting this weekend? I've heard conflicting things....trying to throw me off the scent of a devaluation
Don't forget, last year, for the better part, the Euro looked dead, parity by December was a common refrain.
The dollar has a few dying-gasp type re-surges before the fall.
This is the new volatility showing up and hopefully the continuous setting of higher lows.
ORI
http://aadivaahan.wordpress.com/2011/02/16/truth-about-america-truth-about-us/
There MIGHT just be new Hunt Bros in town
Start here
http://screwtapefiles.blogspot.com/2011/02/who-is-winter-benton-is-silve...
and then just follow the links here http://screwtapefiles.blogspot.com/
You and I are the new hunt brothers. Join the silver flash mob at http://standfordelivery.com
SE Asia and the Mid East are the movers and shakers. So far ~1% of Americans are in the know.
Meanwhile, the Main Stream Media are trying to jawbone PMs down... again.
This time it's from an azz hat at MarketWatch... But, KWN takes his article apart...
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/17_Another_Anti-Gold_Article,_This_Time_From_MarketWatch.html
Another Anti-Gold Article, This Time From MarketWatch
With gold still consolidating gains from 2011, we have yet another ridiculous anti-gold article published, this time from MarketWatch. From Market Watch, “There’s a big fly-swatter that’s about to squash gold bugs,” said Lowell, editor of the ETF Trader newsletter. “Gold is about to go bust,” he said.
We all are the Hunt Brothers!
Fly my pretties, Fly!
What a world . . .
You should see my face right now, ear-to-ear smile.
I am also enjoying the shit out of this. Fuck you JPM.
We are all Hunt Brothers now.
wtf!
Now you're bringing me into this?! Don't take my name in vain. : )
Nooo... I was "Winning the Future"
get your dirty little doppleganger hands off my intellectual property!
Not me. I was going to make another big buy next week. Looks like I won't be able to get as much now.
Dear Ben,
You had succeeded in vanquishing deflation, but your attempt to establish inflation in consumers' mind has stumbled. They took the express train right past that stop to Hyperinflation Station and the Currency Graveyard.
Well done, shithead. My children will curse your name.
do you think he cares if there is hyperinflation? No. His real goal is to make banks solvent again at all costs. That means 75 million a day in trading profits (even though trading for the firm account is now illegal) till the cows come home (that means past the time of hyperinflation).
One year ago, I cashed in my children's savings bonds and bought them stacks of maple leafs. That same amount of cash will buy half as many maple leafs today. Killed two birds with one stone so to speak.
I cashed the 401k, took the penalties, and bought big safes, seeds, water filtration, some more base metals with high-velocity propulsion devices for those metals, and a lot of silver. I figured it keeps me from retirement plan confiscation and lets me ride out the hyperinflationary horizon.
My collection of 'walking liberties' is DANCING!!!1!1
Silver, bitchez!!!!!!
It's either short squeeze and the price rises, or COMEX default and physical explodes while paper implodes.
That appears to be the case.
$50 here we come...
It's only a 60% move.
You're not cheering with conviction. Let's see some CAPS on this cheerleading squad son!
Let's see you posting" GO SILVER GO
This is very good news. Why would anyone standing for March delivery not take delivery with Silver continuing to rally? It almost seems like the CFTC is sitting on their hands waiting for the Comex to default so they can blame the CME and bullion banks for the mess.
Bernanke is testifying riight now.....what a lier. I have been watching. He knows exactly what is going on. Hey Ben.....FU
49 dollars is nowhere NEAR the "Hunt Brothers' High" in inflated dollars... I don't know what the exact number is but it's in excess of 100 dollars. Long, long way to go to get there. But it most likely will.
In fairness to Tyler, he does specify that he is talking in nominal terms only. Of course, the inflation adjusted figures are totally different as you say.
I know he knows, I just thought someone less informed would come along and think "bubble" simply because silver is approaching its 30 year-old nominal highs.
adjusted for inflation $49.45 in 1980 is roughly $127.09 today (in 2009 USD to be precise).
http://www.westegg.com/inflation/
And the inflation adjustment is using the "official" figures for inflation. Using more realistic numbers, say those suggested by John Williams of shadowstats.com, the "adjusted" number would be..........well.......MORE.
Much more.
http://www.shadowstats.com/alternate_data/inflation-charts
Oh we do love a good theoretical discourse. At the rate of monetary expansion, an exponential curve, how does one accurately calculate "inflation adjusted". As the price rises the monetary expansion increases, thus readjusting the inflation adjusted price.
That is what happens when the reserve currency being used is a dynamic variable who's value is assumed constant when calculating future value.
:)
That sounded like the courtroom question in "Johnny Dangerously".
Here's the official site for today's dollars:
http://www.minneapolisfed.org/index.cfm
$134
Just FYI, acc to the Minneapolis FRB inflation calculator (yeah, I know...but I'm lazy), $50 in 1980 is "equivalent" to $133.96 in 2011. So, lots of room to run....run Forrest, run.
Absolutely correct, flaunt. I'm sure the fed wants the whole world to price everything in dollars. for now. That metric is slowly losing ground.
Which ever currency links to the precious metals first will be the winner and will be able to re-set the world reserve currency to their liking.
I'm betting it will be the greenback, only because of the military might of the U.S.; unless of course the banking titans have other plans.
"410,000 initial jobless claims nearly 2 years after the end of the recession (and $3 trillion pumped into this hollow scam of an economy)"
mark haines says thats "pretty good" (for an affirmative action admin)
cnbc - gold in a "bubble" but NFLX going to $300 is normal
Where was the 10:00 o'clock takedown? Is Blythe planning on closing some long positions, selling the straddle?
Is something happening in London and at the Comex we haven't been told?
As for price, the 1980's price adjusted for dollar inflation is way higher- we have a long way to go.
permanently banned from MarketWatch for saying the following and giving them the ZH salute...there r only 2 forms of real money - Gold & Silver... salute all comrades n the metals..
fuck all bankers
......................./´./)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`¸
........../'/.../..../....../¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
...........\.............. _.·´
............\..............(
..............\.............\
...............\..............\
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.................\...............\
when I got my Perth 1 kg coins I was disappointed the Koala's were not giving the finger to the bankers. Maybe next year's design
Good for you Kaiser! I stopped posting over there almost entirely once I found the Zero Hedge!
Get the popcorn ready.
what?
No bigger dickus or the bastard guy? Appalling Smell? where are you boys?
Smelling Snails is working overtime at Walmart to make enough to pay his margin call on AIG.
Waiting for the next drop.
No doubt they will raise margins again. MFs
Let them raise margins, it doesn't matter if your standing for delivery.
exactly
Physical delivery, bitchez! http://www.youtube.com/watch?v=O0e1Y5FXNWs&feature=related
And everyone knows the game now. Don't play on margin but be ready to take your 5000 ounces at the agreed upon price.
They've played that tune way too often as of late. It no longer has the impact it used to.
here's your margin right here mo-fos !
57% of Americans apparently don't own Netflix as they think U.S. is still in recession 1.5 years after we 'exited'
http://bit.ly/hBBmJs
Big rotation in stocks today into things that go boom when you drop them.
New phase of of the religion setting in
In stockpiling silver eagles, outside of coin collections, does it matter what year they were minted? I haven't thought about that before.
Only that 1996's are worth more..
If for example you own a 1990 coin and you sell it today, you would have a tough argument if you claimed for purposes of calculating the income tax implications, that you bought them yesterday.
However if you hold 2011 coins and sell them today, then you have a lower basis.
Option????? - Find a dealer who may be willing to trade older for new??????????
I dont know how bars would be treated if there is no record of when you bought them?
Question: How many IRS agents are still gonna be working once their paychecks start bouncing?
yes. the post is correct. i just have to believe given the poor leadership in the country today that silver and gold will go much higher. hopefully, we'll see a reset to some form of gold and silver backing for dollar convertibility, but i doubt it given the requirements of empire.
tungsten bitchz
Gold and silver prices down today in CHF.
Barely any movement in EUR or GBP either. This is purely a case of prices rising due to the dollar devaluing. Just the same as Cotton, Wheat, Soya etc. etc.
What makes gold different, and the reason why there is a long-standing policy of price suppression is that you can't explain price rises in gold away by claiming it's due to a bad harvest, or weather, or a supply interruption, or increasing demand due to a strong economic recovery. Gold is the spotlight that highlights the Fed's relentless dollar devaluation policy. As such, it needs to be hushed up, like a witness at an organized crime trial.
The CHF and AUD are the strong ones right now.
Can anyone lead me to an explanatinon of "dollar pummled"?
I'd like to agree with that statement, however, I'm remembering a $1.50 Euro in 2010.
dxy is largely euro and yen etc ... if you look at the usd versus all currencies the usd has really taken a whooping. also, dxy is near multi-year lows, which if taken out spell trouble for usd on the downside.
Race to the bottom. One fiat rising in value relative to another means nothing when all fiats are falling in terms of things you need in order to survive...like food, clothes, water, oil.
I love seeing the attempt by the fed to juggle keeping a paper DJIA rally sustained in the face of a commodity arse whooping. They can't control both. Blythe's skirt is showing.
Wait for it man.......100% cash......no margin accounts any more.
They'll shake the tree at least one more time before they capitulate.
We need Grand Stupor Cycle to come tell us how the dollar is in a bull market! Come on Grand Sucking Cock, where are you???? I know you are reading this!
Yet while spot breaks out, the miners get sold. Who would sell their mining shares while an epic breakout of silver occurs? The President's Working Group on Financial Markets, that's who!
BLYTHE BUKKAKE, bitchez
Thank god I sold all my physical back in January and avoided the crash
/sarc
Silver 31.24...
next stop 35.00 per oz banker bitchez!!!
Silver: 1) sound money 2) needed by industry for the foreseeable future 3) form of wealth concentrated enough to carry around with you 4) shiny and pretty 5) hated by ponzi-fiat sociopaths 6) not too volatile (uh...well...5 outa 6 ain't bad) http://therookiecynic.wordpress.com/
What's not to love?
I'll play devils advocate. Let's assume end game circa March 2011 since JPM is in essense a major portion of the US banking system. Let's say silver shoots to $45+ and the scam is up on the physical deliveries in March. Should we really expect they will give up that easily? Is it possibly they institute Exectutive order 6012 and confiscate all silver and for that matter gold bullion to help cover their asses? Since we in the US like being fucked in the ass with no lube and are willing giving away our gold jewelry to pay our credit bills, I think they feel we would easily give up our bullion. WHY? Because they told us to, just like walking through xray scanners is for our own protection. Should be an interesting next few weeks, let alone next two years!
Confiscating physical would be an admission by the USG that they are insolvent and the dollar is worthless. Try to conduct global trade with worthless paper credits.
You'd need to get that through Congress...no way with the Republicans in the House.
You raise great points Gorden. But I believe JPM and their kind don't need to go that route at all. They can manipulate markets around with ulimited $ hot off the press. They still control plenty of silver and paper silver to knock prices around.
My guess is they will allow the price to rise to where they like it and then pull their bids ( along with other bullion banks of course ) while the precious metals community sellls in horror.
Same old story.
No doubt though, at some point, when they have a max amount of hoard ( especially gold).they will link to the next reserve currency.
But that won't happen til they crash and burn the bond and all it's holders. People will be so hungry they will gladly sell their p.m.'s ( what little they do have) for their next meal.
After the first dozen or two confiscation agents are martyred by Patriots, further attemtps will end quickly enough.
$31.2375 was just broken!
Blythe, how can I BTFD if you won't raid? Don't leave now, sweetie, the party's just starting . . .
Precious Metals Outlook: Potential Short Squeeze Brewing http://rosenthalcapital.com/blog/2011/02/precious-metals-outlook-potential-short-squeeze-brewing/
I'd stay calm here.
More likely this is a move to get more people to sell back into the system. I'm sure many people who bought at $5 will sell.
As predicted long ago, we'll have up days and we'll have down days and then we'll have dizzying up and dizzying down and THEN....liftoff.
But the lows will be higher everytime.
Time to BTFD might be over is what I see.
ORI
http://aadivaahan.wordpress.com/2011/02/16/truth-about-america-truth-about-us/
call for calm pudent and noted given the ride back to 31...
but it is still a buy anywhere under 40.00 for those who can still afford it as the TRUE valuation of gentelmens money will not b reflected until it is multiples the current phony paper price...
Mike Hunt for Silver!
Perhaps we'll see the return of two-bit prostitutes!
Absolutely frightening. With all the inflationary news today - the Fed just casually continues its POMO and continues its ZIRP without comment. No worries mate! Extraordinary.
The Fed is busy putting together it's new 'consumer protection agency'... Consolidating power, iows. Since the Fed didn't accomplish a damn thing with the power it had (except make bankers richer) tptb decided to give the Fed more authority... do not confuse authority with responsibility. The Fed will always deny that they were responsible for any FU...and claim the FU was caused by fiscal malfeasence.
Another way to view it is that the CONgress is divesting itself of ALL of it's responsibilities and obligations to the US Citizens... Giving them to the Fed in hopes that CONgress can't be held responsible for the train wreck around the bend.
I'm sure that Mrs. Giffords KNOWS what's going' through their minds...
Poof! New High. Hi Ho Silver!
Poor poor bucky . He doesn't stand a chance in this environment .
On the other hand - I guess as long as stocks are up and bond yields stay down - 99.9% of the population is happy. No one in the US particularly cares about the Dollar and have no real understanding of the long term steady erosion of wealth through inflation. So folks feel poor - because they are. But they dont understand why - maybe they just need to work harder!!LOL.
The poor woman in the street in Benares just got her nostril slit so that they could steal her silver button.
Josephus, _Wars of the Jews_, Book 5:
"Yet did another plague seize upon those that were thus preserved; for there was found among the Syrian deserters a certain person who was caught gathering pieces of gold out of the excrements of the Jews' bellies; for the deserters used to swallow such pieces of gold, as we told you before, when they came out, and for these did the seditious search them all; for there was a great quantity of gold in the city, insomuch that as much was now sold [in the Roman camp] for twelve Attic [drams], as was sold before for twenty-five. But when this contrivance was discovered in one instance, the fame of it filled their several camps, that the deserters came to them full of gold. So the multitude of the Arabians, with the Syrians, cut up those that came as supplicants, and searched their bellies."
CW
$18.45 away in non-inflation adjusted dollars.
WOW! I am shocked that there is no selloff following the 31.23 breach. This blows my mind. This must be short squeeze time. Have we finally, at long last, fucked the witch? Is it too early to start singing "ding dong the witch is dead, the wicked witch...."
Maybe short squeeze. More likely people piling back in and newbies piling in on the mo. It's early, but everything's aligned: techs and fundamentals. Enjoy the ride!
http://www.bloomberg.com/news/2011-02-17/fed-tells-banks-to-stress-test-...
Witch and bitch, both in the ditch...the road is paved in silver eagles; silver maples fall like autumn leaves
Um, the dollar may be down slightly today, but silver will be rocketing skyward as the dollar rises and euro falls over the next couple of months.
HAHAAAAA
$31.40 +
Hello shorts, crapping into your 'shorts' yet?
...follow the yellow brick road...
31.52 wooo wooo
I love the volatility of silver, it has only one way to go. Enjoy boys and girls. But it would be nice to see Blythe again as we scoop up more and more ;)
31.56!
But you still can't eat it!
I would give it a couple of weeks, not months, before we take out the Hunt brothers' high from 1980.
Precious Metals Outlook: Potential Short Squeeze Brewinghttp://rosenthalcapital.com/blog/2011/02/precious-metals-outlook-potential-short-squeeze-brewing/
Anyone know who the silver company is that has been so zealousy shorted?
Would love to be buying that stock today..
Own physical!
Could junk jump to 30x face? I laugh aloud at the silly numismatic toss pots.
Hey don't diss the real nice Morgan Silver Dollars that are out there. Of course, like with anything, you gotta know what your doing.
And get this...it is still cheap.