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Ongoing Overnight Short Squeeze Takes Silver To Fresh 31 Year High
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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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 :)
Never shopped there but their website lists Silver American Eagles for $36.08
i saw that too
looks like they fucked up?
Yes, ad copy had to be into the publisher before the rocket took off.
Chomsky on the events in wisconsin
http://nakedempire.wordpress.com/
thanks; they are really two branches of the same party; both for the rich, just with slightly different shticks.
Ding Dong the witch is dead! Which old witch, this old witch, ding dong the wicked witch is dead.....
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!
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.
Seems it wouldn't be that difficult to remedy that, simply create some categories, same as carpenters have "master", "journeyman", " apprentice" etc.
You can be sure that somewhere in the ad copy is something to the effect that, "Prices are subject to change without prior notice."
http://silvergoldbull.com/s/silver-bullion.html
Have you seen the new video....
The Wicked Witch Is Nervoushttp://www.youtube.com/watch?v=Lq0bAOVaQwQ
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.
http://lunaticoutpost.com/Topic-Silver--39992?pid=656516#pid656516
I also am a dj there and will be doing a gold and silver music show this weekend ;)
Come on Blythe. Make my day.
Here Blythe, I'll sell you a little. Hope that cover generates some alpha for ya.
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.
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!
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!
http://www.youtube.com/watch?v=zDAmPIq29ro
Rick Santelli being the awesome exception.
Red herring I think. Santelli that is.
Manufactured opposition, lone shrill shill.
ORI
+++++ Few have figured it out, thank you.
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.
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.
i thought that i was the only one who got horny when i made a lot of money.
No I think that's basically universal :D http://www.youtube.com/watch?v=JBw2ExFFM2k
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.
yeah , rioting merchant bankers over no bonuses this year
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.
GenX'er swan song,
http://www.youtube.com/watch?v=wXlNS1ZgPSE
"Time to loosen up (your) garments and let forth your hair" Blythe?
Hawh... Hawhh. Hawh...Hawhh.
http://www.youtube.com/watch?v=rX7wtNOkuHo
Saaaa-weeeeeeet-aaaaa!
Engelhard 100ozt bars are very nice indeed.
I am Chumbawamba.
Heavy and shiny! And selling at a premium to the newer brands last time I looked.
barliman
Not for me. Less than a dollar per ozt over on the premium. My dealer loves me.
I am Chumbawamba.
I'm watching Blyth's attempt to make a stand at 33.12 fall to a hungry pac-man, hitting the offer. Heh.
GG
Print at 01:28 CST: $33.35
awesome, i will be dreaming of the fall of Dimon !
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?
here's to hoping silver falls back to 28-29 range.
i've been pounding my head all weekend for not BTFD.
If you're holding physical long term who cares?
Exactly.
Shut up and just BMOTND (buy more on the next dip).
I am Chumbawamba.
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.
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)
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 :)
we could get a quick run to 36-38 area; 32 will serve as good support
Can you picture the paper margin call avalanche Blythe is trying to swim upon right about now?
oh the sweet taste of justice.
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.
as the xtranormal movie said, they pay 20% premiums to the spot price to settle in cash not metal. people notice something like that.
harvey says that every $1 rise in silver costs the morgue $100 billion. does that sound right?
Silver is never up this much at night....
Could China be bidding up silver before Wynter_Benton gets a chance?
In case you missed it, Trader Dan has an excellent article on "What is a Commercial Signal Failure" up at:
http://traderdannorcini.blogspot.com/2011/02/what-is-commercial-signal-f...
h/t to the Silver Turd.
Just read it tonight. Great stuff! This week is going to be spectacular.
Trader Dan is right that a short squeeze may set up a big price correction later.
I may use the opportunity to roll the silver over to more gold before a drop.
Gwar5: At what price point do you try to sell? I am thinking the same thing,
convert to gold during the blow off, then get more silver when it overcorrects
on the otherside. The thing I am scared of is settling in FRN at any point.
Safest thing would be to just stay long and hold (as per Wynter's last message).
But I think I might risk 10 or 20% to try and profit on the spike.
The 64K question is this, what is the sell point?
Do you want to be free, or do you want to be rich?
That is an incredibly poetic query. I wonder how many will get it?
I am Chumbawamba.
Wow, thanks for the link, that's a great writeup on how rapidly this market could develop. Glad I bought at $15. And again at $17. And yet again at $22!
"...Glad I bought at $15. And again at $17. And yet again at $22"
And $10, $12, $17, $26, and even some more "junk" this AM at $33.60
I think we may be moving a bit beyond large moves on contract rolls and more towards no physical to be found anywhere.
what is everyone's realistic target price of silver? i've heard anywhere from $50 to $10,000 and some of these numbers seem far-fetched to me (50 too low & 10K too high).
Wynter says thay are not selling anything until $80. Then only a little.
Dude, take it easy. You've got to think of this in terms of a multi-year war, where silver continually achieves certain price objectives and then gets pushed back before the next run higher. Don't try to eat this meal all at once. Look at the historical price levels in nominal terms. Then consider the real prices. So there is 40.00. And then there's 50.00. After 50.00, then it's on to the real price high around 130.00. But again, you've got to stay in the game to see these levels, outlive the brutal corrections, and stay alive for the subsequent assault.
GG
pretty good investment advice.
easier said than done however. a brutal correction is a bitch!
It is not at all hard its called risk management. If you don't know what the potential draw downs are for the instrument you are trading don't.
My target price is $90 by January 2013. My qualifications are I read Turd and Harvey. That would be another tripple in 2 years. If my prediction comes to fruition I would like a big shout out from Turd on his website in 2 years.
Ultimately, gold and silver will be valued based on what other tangible materials they can buy. $10k/oz for silver doesn't mean shit when a loaf of bread coast $1k. When you can buy land for a few ounces of silver or gold, then your reward is realized.
Put it this way, if you do it right you'll never sell your gold or silver for money. You'll trade it for buildings, land, etc.
+1. Price of pms expressed in fiat means nothing to me as I am no longer buying. I am fully long ag. It will be swapped for au when the ratio returns to 16 (ish). Au will be swapped for real assets in time. Fiat is not part of the equation.
you think someone wants to part with his gold at that time ? why would someone want silver over gold then ? the person you think you can buy gold with silver from could buy silver today for much better price, IF HE WANTED silver.
For buying there has to be a market, people tend to forget that ...
So let me understand you. Should the GSR hit 16, on the entire planet, nobody will want to buy silver and nobody will want to sell gold. If there is no demand (market) for silver, how did the GSR get to 16? Please explain.
I own both silver and gold. silver I will spend, gold I will keep.
I don't think the GSR will get to 16, but for argument, imagining it does, it could also be caused by gold being not for sale, or already too expensive, and people having to buy silver(poor mans gold) instead, which would then put extra pressure on the silver price upward. fiat has to go somewhere.
I will change opinion when central banks start putting big loads of silver on assetside of balancesheet. until then I see silver as very good investment, but I see gold as money still to be revaluated to the moon.
You may see a role reversal considering the projected extinction of the
element silver. 20,000 uses and demands silver fulfills, creates severe leverage.
Gold sits as it has, and as you intend. Such a role never lasts
forever. Silver may possibly regain the throne.
I would gladly see facts prove you wright(and me wrong) in time since I own much more silver then gold :-)
The fact that gold lays very still is what makes it such a good store off value. You don't want instability. the use and demand of silver other then store off value put stress on the commodity and makes it unsuitable as money. who is going to keep the price up ?
I mostly agree Robot TM.
I do think both gold and silver wil outrun inflation fro a long time.
I could see selling silver for money (or groceries, etc.) as needed or wanted after a big price run-up (very likely IMO).
Gold? Save it for your children and grandchildren. Unless buying that Toll Bridge just becomes too attractive to pass up...
DCRB, We think alike maybe: people sometimes tell me to, "build a bridge and 'get over it.'" Usually, I am unimpressed I'd rather, "Use a toothpick to pole-vault over 'it.'"Any way just today I realized that maybe I should build a bridge and then charge a toll. Also, I haven't got an answer to whether Pt likes to Katamari like Au. I am still pondering Pts nature. If you have any ideas it please share.
Forgive me for replying with something only tangentially related to what you were saying...
Building a bridge is an investment too, whether built privately (obviously rare in the states) or by a municipality. Because munis used debt financing, with the implicit guarantee of the federal government, they never think of building a bridge oir a road in terms of whether it will eventually facilitate more capital growth than its construction and maintenance will absrob. Rather, they recklessly create construction projects in the mistaken belief that the money spent on construction is a spur to the economy, and that if you build it (a bridge to nowhere), they will come ("they" being businesses and investors).
This is why municipalities should never finance the construction of roads and bridges. They should instead be paid for by public corporations who get their funding from businesses and individuals who stand to benefit from the road being there. In that way money is spent carefully, and usually in a way which will facilitate sustainable healthy growth
Silver will never get near $10,000 for one simple reason. If things get that bad, fiat currency will be worthless long before that. Silver will be priced tangeble things.
First post from long time lurker! Started reading this site about six months ago. Don't much understand the finer points of finance but this site has really brought me along, and makes me laugh out loud to boot. Even before finding my way here, I was convinced that I needed to get on the physical gold and silver train, but reading the discussions here solidified my conviction. Problem was, I had nothing to buy it with. My only asset was my home of seven years. I live in Austin, where everyone thinks our housing prices can't drop, and that I was crazy for listing my house, but I went with my gut and sold that fucker two months ago. Got asking price within a week (suckers!). So after paying off all my student loans and credit cards, I put every last penny into PHYSICAL gold and silver. Loved that house, but no regrets on the sale, and have been having a blast watching the moves in the yellow and silver stuff this year. Just wanted to say thanks to all the silver and gold bugs on ZH for your insight! Fook those wankin' bankers.
Welcome, and wise choice. Soon you'll be able to go back and buy your block.
..
Rock on dewd! ZH hedge is the best.
No way I'm paying off my student loans... their value is going to zero along with the currency. I'd rather have more silver.
I disagree Blorf. You don't mess with the Big Rhino. Don't invite .gov to mess with you. No!
I Got Works is right. Sell the house, pay down the debt and go big on Au and Ag.
Disclosure: The Bearing is 10% in PMs mostly gold. That could change to 11% soon without me buying any more, hahaha!
By buying gold (and silver and platinum) you are casting a vote against deficit spending, banksters, Wall Street, the Fed, .gov and almost every monster out there.
Ugh, I hate debt. Debt means you're not truly free.
Only slight concern this morning is that both WTI and Brent go markedly higher. Is that the plan ("If PMs go up, we'll ruin everyone") - Nicholas Biddle would be proud. Do JPM sit on a massive long position in oil?
Or consider the explanation offered by FOFOA (and, I think, FOA and A) that oil is not really priced in dollars, but rather, the Saudis set the oil price according to a gold/oil ratio. If the dollar price of gold goes up, then so does the price of oil. Is this the real reason why TPTB have tried to suppress gold prices for so long?
Never, ever, go in debt again. I am debt free. So are you. I'm staying that way for the rest of my life. So should you and everybody else on ZipHedge.
depends on how well one can control it, what one buys and what the after tax, after inflation cost is. leveraged purchases of homestead real estate was a great idea, generally, from 1942 to 2006 with interest deductibility and, at times, negative real interest rates (1942 to 1965, say). after 2006, horrific. and debt for consumption outside of emergencies is never a good idea. as far as leveraged purchases of financial assets, harry's question applies (you've got to ask yourself one question, do i feel lucky? well do you?)
Debt free and aim to keep it that way. Renting a house for the foreseeable future. I bank at a small local bank now. The best part was when I closed my Wells Fargo account that I have had since high school, I was charged some 40$ administrative fee - it hacked me off, but then I figured, WF is out of my life for 40 clams, good riddance!
Watching these silver prices is like riding a hot roller on the craps table. With much better odds though.
you and i are on the same boat!
now you can go increase your credit limits and max them out and buy more PMs and throw the cards in the trash
WAahhBANG!
Kick 'em(banks etc) right in the nuts.
Tried to convince family to preform same brave act. No go.
Congratulations on sincere Whoopass. You'll be laughing, and buying... whatever you want.
I would like to get this margin hike over with soon. We ALL know it is coming. I cannot imagine there is even one holder of contracts that isn't ready to re-up his requirement collateral.
Hunt Brothers showed us a lesson in Margin calls. Nobody who is serious is buying on margin anymore. :)
+++++
According to the fin viz charts Silver is now up 7% on the 2011 calendar year -- Au at -1.8%. But holy man, The Bernank is beating everyone with his "physical" - Cotton up 36%.
Bow low to the Chairsatan, Ms. Blythe.
What short-selling giveth, the printing press taketh away! :>D
Oil last time.
'tis but a distraction from the elements.
All Aboard!!
I'm still buying. They're going to have to do a lot better than $33.10 to stop me. I have this strange compulsion to invest depreciating money in valuable underpriced assets that are deep, liquid and redeemible. Has anyone else noticed the Tulving operators are getting grumpier by the day?
He and they have always been surly.
I wonder how it feels to be a Libyan dictator, Chinese politburo member, ECB banker or one of the FRB elite right now?
Does it feel like ground is moving beneath you? Are you wondering if the peasants will become further inflamed? Is your sense of absolute control eroding?
GOOD!
I still think you are too optimistic, Tyler ... but I hope you are right.
barliman
Heard on the radio today an Islamic group had taken over one of the largest cities in Libya & declared an Islamic Caliphate.
I remember a couple of years ago Libya was taken off the US government terror list, when Gaddafi's son took over & gave up their nuclear secrets etc. So what really happened is that Gaddafi Jnr sold out for a fist full of US dollars & now he goes under.
And backwardation in silver, I hear a creaking sound.
Name an oil-producing country, with a large impoverished population that is experiencing great discontent and may be influenced by unrest in other countries:
Uh, Mexico.
Wouldn't that just put a cherry on top of this clusterfsck? :>D
Uh, USA?
+1
Hello Blythe..It's Jamie. Get your funky Brit ass out of bed and get down here ASAP.
Awww Jamie, not again...
:)
Hello Blythe..It's Jamie. Get your funky Brit ass out of bed and get down here ASAP.
There was never any Blythe Masters. She was a cartoon character made up here on Zero Hedge.
And no doubt, JPM is probably net long silver, after all the weak hands were flushed out by the PigMen during an attempt to trigger a Don Coxe "Midnight Massacre".
PigMen and their Plutocrat clients are always on the right side of the market.
Watch JPM report magnificent profits in the 1st quarter.
Here's Blythe macking down some pie at home tonight while watching the silver chart go ballistic...
Her poor husband. That's all I have to say.
That chubby has 4 tits!
Fuck, she has eight tits.
Comfort food!
It's nice that you are consistent. Very nice lingerie for all your models!
Do ya'll know about "feederism?" For some, this is some seriously hot porn. Some men like heavy women and love feeding them and making them heavier. They feed them during sex too.
http://en.wikipedia.org/wiki/Fat_fetishism
Lingerie? That looks like a tablecloth doubling for panties!
Gag (pun intended!) Now I've heard just about everything! :>D
tong foo foor da House!
and a cute (?) sub theme of "city island". re: robot. if the pigmen are always on the right side of the important trades why are they insolvent? what they really are is on the right side of the financial corporations and the government so that when they are on the right side of important trades they keep the profits and when not, via government, we get the losses.
Stop taking pictures of your sister RoboTroll.
Aren't you short? When exactly.is the PM bubble bursting? $400 by years end. $1,000 in 2012.
10-1 ratio will return, maybe even parody by 2013. Take your goog and stick it up your fat sisters ass.
The gold/silver ratio has been in parody for years.
ha ha
i missed that on a college bowl type high school competition: they do sound alike. i was making references to mad magazine and they wanted agricultural prices.
Damn, I'd roll her in flour to find the wet spot but methinks it is all used for baking those sweet treats.
The goggles.... they do nothing!
That right there is some really scary shit.
she is beautiful I love big women ( Economical I don't have to feed her for months)
Imagine how much money you can save and buy PM :-)
There is always somebody SHORT...Luck I covered my AGQ last week and got long..
No wonder hog futures are going up, robo is fattening his sis'
SEXY BEAST!!!!
but without a 50 inch dick, you can't do much with her...
you could set her alight, and keep the house warm all winter.
there's always the titty-fuk ...in fact there's so many skin folds you could spend all week shagging your way around her!!!
you've heard of wrong way corrigan, the cat who took off in airplane heading for california, and wound up in ireland. our old catfish mouth robo uber bull bear wanna be now owns the title wrong way catfish mouth.
since his call for collapsing oil last week, oil has risen from $85 to $93 and change.
and who can forget his infamous collapsing - it's over, get over it and deal with it - call on silver a mere two weeks ago. $26.50 to $33.50.
and he would have us believe so successful was he at trading that he was able to retire - in his los angeles apartment.
well, at least the old catfish mouth has the memory of schooling gentleman jim sinclair on the coming gold and silver collapse. jim is still smarting from being admonished by the old catfish mouth.
No, she can't be on board!
I tried to put an order on the wesminster mint website, and WHAT there is TAX, WHAT TAX....this explains it.....
Why the hell would there not be taxes? your buying a physical product not a service that is not food. tell you what. you can always buy paper silver. there no tax on that :)
(From: Dealbreaker and Bloomberg, August, 2010)
--Blythe Masters told the commodities unit to "calm the fuck down!" assuring them that “no one’s going to get screwed. We’re not going to do crazy things on compensation at the end of the year.”
--JPMorgan, the second-biggest U.S. bank by assets, told its proprietary commodity traders in August their unit would be closed.... The group consisted of fewer than 20 traders and reported to the head of commodities, Blythe Masters, 41.
I bet she pulls a Ben-Ali.
Anybody seen 97 pieces of stuffed luggage?? :>D
Holy F&cK! I can almost quit my job before they lay me off! LOL!
Wow 33.11/16. To bad I am still a student and do not have significant savings to really pull the trigger and start stacking those 10 and 100 oz bars! Right now its baby steps, 1 maple here...1 eagle there.
With only one, you have more than 99% of the world.
What if........there is a "classified" contract between Timmy / Benny & the BBs to short PMs thereby supporting fiat systems? The BBs would not be at risk with their shorts when acting on behalf of their contracted vendor - the vendor (Timmy / Benny et al) absorbs the losses, i.e. taxpayer would foot the bill.
... just thinking (I only "know" what I've read here and on other similar sites)
Can you REALLY be paranoid enough? <|:>D
if ron paul is to stand a chance, there must be some really vile stuff for him to discover over the next year and a half. they's tryin hard to stack it up.
It probably takes the form of a "National Security" Letter, signed by a former President, and I'd wager there are two, one for gold and one for silver.
National Security Bitchez!
I wonder if he'd crash the NYSE to hedge this?
In a heartbeat. I expect a MAJOR liquidity withdrawal to force Gold/Silver sales (it won't as much as they like), crash the stock market (it will work better than they would like) and scare folks into Treasuries (it will work so-so). This will the one of (the?) last times this will work, and a big PM buying opportunity.
i can't tell whether you are a brilliant analyst or just that i agree with you or that it sure would help my portfolio. (wished i'd pulled more of those triggers late last august, oh well, always too much of the bad, never enough of the good, think i'd get used to it).
Agree.
PMAA: Precious Metal Availability Paranoia however.
THe latest youtube Blythe Masters silver short squeeze Xtranormal vid. Check it out: (4 mins)
http://www.youtube.com/watch?v=Lq0bAOVaQwQ
Thanks Turd! :)