Ongoing Overnight Short Squeeze Takes Silver To Fresh 31 Year High

Tyler Durden's picture

Silver takes out $33.10, hitting a fresh 31 year high, as the relentless short squeeze leads to more body bags, and the only flight to safety currency is now the non-dilutable one (with gold on the verge of $1,400). Only $20 more to go until the all time Hunt Brother record is smashed - one/two more revolutions should do it; even better: hopefully the CME hikes margins next week: that would bring $40 silver 24 hours later. And on a more somber note, please join us for a moment of silence in remembrance of the great, the legendary, the soon to be departed Blythe Masters whose most recent zero margin, infinite PM short contraption has just sang its swan song.

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floydian slip's picture

There is an ad in the USA Today(Monday Feb. 21) for Westminster Mint selling SAE's at $32.95 the number listed is  1-800-301-3868.  Also says FREE SHIPPING! There is no fine print.  It is on page 7A.

you are welcome :)

Dr. Gonzo's picture

Never shopped there but their website lists Silver American Eagles for $36.08

floydian slip's picture

i saw that too

looks like they fucked up?


The Third Man's picture

Yes, ad copy had to be into the publisher before the rocket took off.

jeff montanye's picture

thanks; they are really two branches of the same party; both for the rich, just with slightly different shticks.

strannick's picture


Ding Dong the witch is dead! Which old witch, this old witch, ding dong the wicked witch is dead.....

Thomas's picture

There is another side to unionization that might be mentioned. When you unionize you are also homogenizing. If, for example, you are talking coal miners, that homogenization already pretty much existed. If you homogenize a heterogeneous group--imagine you tried to unionize all artists, for example--then you introduce de facto price controls. Now here's the problem with graduate student unions: You cannot fathom how heterogeneous this pool is. If you provide one rate for all graduate students, for example, you will have a situation in which your institution cannot compete for students in the sciences because the rates are held down to levels the humanities can afford or you will bust the bank of the humanities trying to chase the rates of the sciences. So the devil is in the details: teaching assistant unions are OK. Graduate student unions, to the extent they try to homogenize the support across all disciplines, wreaks havoc. I should point out that, whereas Wisconsin has had these unions for many years, you can see evidence that it is hurting their competitiveness (not disastrously so) in the sciences.

I am ready for the junk! 

Thomas's picture

I can add, for example, that Wisconsin grad student stipends in the physical sciences are not keeping up with their non-unionized brethren at peer institutions.

Lord Koos's picture

Seems it wouldn't be that difficult to remedy that, simply create some categories, same as carpenters have "master", "journeyman", " apprentice" etc.

Amish Hacker's picture

You can be sure that somewhere in the ad copy is something to the effect that, "Prices are subject to change without prior notice."

takeaction's picture

Have you seen the new video....

The Wicked Witch Is Nervous

Good can defeat evil's picture

Any chance of posting that ad for those of us too frugal to subscribe to USA Today.  I think the Mint's phones will be busy when they open at 9:00 am.

floydian slip's picture


 I also am a dj there and will be doing a gold and silver music show this weekend ;)


High Plains Drifter's picture

Come on Blythe. Make my day.

unununium's picture

Here Blythe, I'll sell you a little.  Hope that cover generates some alpha for ya.


Michael's picture

Unless you require a brain freeze, just mute the volume button on the tick to tick reporters on CNBC. You can read the ticker much faster than the reporters can divulge the information out of their mouths.  The teleprompter readers on CNBC are incapable of giving you valuable information on the macro picture due to their low IQs.

Hugh G Rection's picture

Don't worry Blythe, that ass has another 5-10 years left on it, plenty of silver bugs willing to pay you in silver fractionals for some boom boom.

Silver at 40 by Friday. Crimex default eminent. Me so Horney!

Michael's picture

CNBC mandate; Dismiss every shred of unpleasant news.

CNBC employees are highly trained in showing lack of emotional concern and maintaining only a mono tone and or positive tone in their voice.

Animal House - All Is Well!


EscapeKey's picture

Rick Santelli being the awesome exception.

Oh regional Indian's picture

Red herring I think. Santelli that is.

Manufactured opposition, lone shrill shill.


Snidley Whipsnae's picture

+++++ Few have figured it out, thank you.

KickIce's picture

I don't think so, he wins to many arguments.  Then again, look at his competition.  I also got the feeling he got read the riot act and is now holding back to some degree.

Bendromeda Strain's picture

That's some strong tin foil. I highly doubt that RS would be giving extended interviews to obscure outlets like King World News if he wasn't genuine in his convictions.

breezer1's picture

i thought that i was the only one who got horny when i made a lot of money. 

High Plains Drifter's picture

I feel another hurried up meeting with congress is coming where Timmah says we need money or else there will be riots in the streets.

savagegoose's picture

yeah , rioting merchant bankers  over no bonuses this year

HoofHearted's picture

I assume you saw the G-20 communique, though. So now we're to the point of either pissing off the people or pissing off the other countries. Rock, hard place. Hard place, meet rock.

Glad I bought a nice AR15 at the gun show this weekend. Didn't even consider it, but the owners would have been happy to be paid in...silver...but all in all, I'm glad I was able to have him swipe a little plastic card for it that only represents FRNs and not real money. And yes, I also got a couple of bricks of ammo.

GoinFawr's picture

GenX'er swan song,

"Time to loosen up (your) garments and let forth your hair" Blythe?

Hawh... Hawhh. Hawh...Hawhh.

chumbawamba's picture


Engelhard 100ozt bars are very nice indeed.

I am Chumbawamba.

barliman's picture


Heavy and shiny! And selling at a premium to the newer brands last time I looked.


chumbawamba's picture

Not for me.  Less than a dollar per ozt over on the premium.  My dealer loves me.

I am Chumbawamba.

Glasgow Gary's picture

I'm watching Blyth's attempt to make a stand at 33.12 fall to a hungry pac-man, hitting the offer. Heh.


StychoKiller's picture

Print at 01:28 CST:  $33.35

Seasmoke's picture

awesome, i will be dreaming of the fall of Dimon !

AndrewJackson's picture

I have no idea where silver is going to end up by the end of this next week, but is anyone else feeling an extra nasty drop in silver after the march/april contract roll on next Tuesday?

Troll Magnet's picture

here's to hoping silver falls back to 28-29 range. 

i've been pounding my head all weekend for not BTFD.

JLee2027's picture

If you're holding physical long term who cares? 

chumbawamba's picture


Shut up and just BMOTND (buy more on the next dip).

I am Chumbawamba.

jeff montanye's picture

i thought they crashed pms before expiration to minimize those in the money.  but i know very little about this and could easily be wrong.

unky's picture

they did so in the first half of 2010. i think options are not a problem, they can be settled with money which they can print. the futures are more of a problem, because they can stand for delivery (but they dont have the silver so they agree to receive 20% premium)

Sudden Debt's picture

The june contracts are twice in size.

If the march delivery is above 12 million, we'll see 50/60 real soon.

And after that, contracts keep getting bigger and bigger. I've even had a wet dream last night when I checked it out that silver will be at 150 at the end of the year :)



NOTW777's picture

we could get a quick run to 36-38 area; 32 will serve as good support

LongSoupLine's picture

Can you picture the paper margin call avalanche Blythe is trying to swim upon right about now?

oh the sweet taste of justice.

DoChenRollingBearing's picture

Blythe, JPM and the COMEX can all sleep well tonight.  They will just hand out the paper (default on the physical) and .gov and .fed wil give them all the fiats they need.  So, no organizations will get busted.

Might be a physical shortage of gold and silver though...

Silver has indeed had an incredible run.  If they paper this over, a FOFOA event may come sooner than we think.

jeff montanye's picture

as the xtranormal movie said, they pay 20% premiums to the spot price to settle in cash not metal.  people notice something like that.  

breezer1's picture

harvey says that every $1 rise in silver costs the morgue $100 billion. does that sound right?