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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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I have a big tin I throw my pennies, dimes and nickels into. Last time it got half full, I took it in and got about 60.00 bucks. I'm also trying to watch what I eat and cut down on snacking on junk... a tough proposition when the vending machine is so close to my office!
Now when I have one and two dollar coins (Canada) and quarters in my pocket, I toss them into another jar. In two weeks I've got almost 50 bucks in there! I also cancelled my biweekly payroll deductions for savings bonds, beause they don't even keep pace with inflation. I also set up a new insurance plan that saves me 50 bucks a month. My new plan is to take my saved change and the difference of what I would have spent on bonds, and my insurance savings and dedicate them to bullion purchases every two weeks.
That's what you gotta do, make forced savings here and there and put that money to use. Just those little bits will get me 8-10 maples per month... well depending on prices!
Savings bonds -- like giving a drunk a drink...
You GATA love this guys small change jar
Brazilian billionaire Eike Batista has apparently bid $1 billion for junior mining company Ventana Gold (VEN.TO.
Not so long ago, there were only a handful of billionaires on earth, as a billion dollars used to represent A LOT of money. Only the greatest of businessmen, such as Bill Gates, or the richest oil sheiks had the ability to build that kind of wealth.
However, today there are 1,125, many of them as obscure as people worth $200 million ten years ago, and many in far-reaching parts of the world.
Point is, because of the gold/silver suppression scheme over the past decade, one can amazingly still buy a HUGE amount of gold and silver for $1 billion, although that window is about to close.
For $1 billion, for instance, one can buy ALL the silver dealer inventory on the COMEX, ending the scheme at one fell swoop and transforming Western perceptions of what inflation really is.
(assuming that inventory even exists).
You don’t have to tell people in the East, who care of the U.S. dollar’s reserve currency status and unlimited Federal Reserve money printing, are experiencing record-setting rates of inflation.
This inflation is what toppled Tunisia and Egypt, and what will soon topple the regimes of countless other countries worldwide.
The Precious Metals market is very, very, small, both in terms of shares...
(0.2% of ALL global financial assets, compared to nearly 30.0% in the late 1970s)...
and bullion itself...
(less than $30 billion of investable silver WORLDWIDE)...
The U.S. government will print $600 billion early this year just for QE2 alone, in other words roughly $30 billion EVERY TEN DAYS.
Billionaires such as Eike Batista alone can take this market to the stratosphere, and they will…..very soon.
There will be a time in the very near future when gold, and particularly silver, are UNAVAILABLE FOR PURCHASE.
http://www.lemetropolecafe.com/index.cfm
just for the record, bill gates was mostly a lucky thief. ibm gave him (gave him!) the monopoly on ibm type p.c. software because apparently they thought the big money was in hardware (!). and he stole apple's software design and modified it, poorly, for those machines.
David Morgan warns of Gold/ Silver confiscation in US this year!
http://www.marketoracle.co.uk/Article26409.html
I call total BS on confiscation. What are they going to do? Force people to open their bank vaults or audit their homes? Who's stupid enough to voluntarily provide their gold? Also have you looked at a COT (comittment of traders) report lately? Retail investors are net sellers! (LOL), and their quantities are tiny compared to managed investors. It is totally impractical to "confiscate" gold and would further piss off the masses... and likely the 1/2 intellectual masses to boot - the ones with enough clue to buy PMs. This ain't the 1930's anymore, our only source of information isn't just MSM TV and the trust in the government is fast eroding. The public that has PMs right now isn't stupid enough to give it up. Good luck collecting it.
Oh and BTW, if you want to confiscate gold, it doesn't get any easier than:
1. Raid the COMEX
2. Raid CEF & all the other gold ETFs
It's just not practical to go after the small guy and his gold Eagles.
Lastly, what do you think would happen to the value of the US dollar if they announced a gold confiscation in the USA to backup SDRs. The entire planet would be dumping US dollars down to $0 [ZERO] ! Also SDR's need the IMF's approval and China and Europe will be part of that. You think Europeans and Asians are stupid enough to also let go of their gold after thousands of years of history of knowing it has value as a currency? LOL.
adeptus is correct. No way to easily confiscate much gold small holders. They can try taxation gimmicks, etc., but that will not work either.
Recall that most gold owners are gun owners as well. A few fascists shot raiding people's HOMES, not even the cops will go along with that.
Look how well confiscation of illegal drugs is going.
if one feels that once burned twice wary there are always the stocks of gold and silver miners.
the exact question I asked and conclusion I surmised months ago when monster Confiscato was mentioned
Just a short time ago he said confiscation ideas are ridiculous:
http://www.youtube.com/user/WealthCycles#p/u/6/wnmqMEE6CLc
David - PUMP & DUMP - Morgan
Every time I hear that fuckers name I want to up-chuck.
The sooner he and his kind are turfed out of the PM community the better.
Cost me a few $K to learn another of life's hard lessons.
Sino-Silver tsx ... 2005... WTF !!!
White Man speak Forked Tongue!
http://3.bp.blogspot.com/_HZQxJhz5ZzA/S81laJJjWmI/AAAAAAAAB0E/fam1SIVDAWk/s1600/forked+tongue.jpg
As they say: It's on like Donkey Kong.
Silver spot @ 33,10 and rising.
Fuckin' beautiful
SLVRIZGOLD bitches! Silver:gold ratio 42:1 and going to 40:1 this week IMO. There is almost NO resistance between $33-50 on silver except a small thin band of resistance at $35-38 and that's probably not even relevant since that goes back 31 years.
$45 silver and $1650 gold - that ratio would only be in the high 30s:1 and not far from todays 42:1
$50 silver coming this year - if not in spring then the fall-Dec period.
Only physical no etfs.
Miners are for leverage - good mgmt, strong balance sheets, strong cash flows, not overly diluted share structure, current or near term production should be the basis for your cores. Baskets. Juniors and midtiers. Seniors are underperformers, especially on the gold side. Margin is a tool of the devil and to be avoided like sin lol.
and your favorites? my best performer, first majestic silver, was a tip from an internet commenter that sounded like he/she knew something and was that ever true.
Blythe Masters et ses risques systémiques http://www.youtube.com/watch?v=KbZNikih6yM
Look at this little dirty puppet mouth go. Blithe Masters Lying trough her teeth about? Commodities Manipulation LOLz
http://img.photobucket.com/albums/v393/youricarma/Miscellaneous/BlitheMa...
http://img.photobucket.com/albums/v393/youricarma/Miscellaneous/BlitheMa...
http://img.photobucket.com/albums/v393/youricarma/Miscellaneous/BlitheMa...
This is probably a big buy signal for stocks then?
Now 33.18 with a grudge...
Spike: 33.32.
Jesus the shorts are fucked... just gapped up to 33.40
Silver @ $33.40
Coming soon to a bathroom wall near you:
I love my silver
My silver loves me
We are so happy
My silver and me.
$33.27 -- BTFD!
33.40. Grab your ankles bitch. This is gonna get mighty interesting by Tues morn.
.... 35,32,46,36,61, draw the silver chart.
A major bullion dealer in nordic and baltic countries has run out of krugers, phils, maples, 100g bars, etc, and are not answering the phones this morning.
They are celebrating American Presidents Day.
1000 ozs in 97 500 since. Suck my dick jp morgue. Im balls deep in Blythe and loving it. (_(_)========D
I was collecting silver back then too. In 2003-2004 I was also getrichslowly on ebay and had a bid on every silver junk auction right at spot plus shipping on the ones not trying to rip you off with shipping. I won enough that anybody else collecting junk at that time should remember me sniping those odd hour and low volume day auction endings.
You guys need to figure out when you are going to sell. Eventually the gains will be less than you can make in other markets.
eventually. we're waiting for the events.
It's party time but just remember how nasty JPM and company can be when threatened. Look out for false flag event or some such ugly response ... Silver = 33.41.
Too little metal, frantic demand, balls hanging out on exposed short position, organized efforts around the world to over-throw the manipulation....good luck with stopping the run.
SILVER REVOLUTION
I foresee silver disappearance altogether, the higher the price in fiat it goes.
Buy the fucking dips.......shi... There is no dips...so buy anyway.
The question is what will Blythe do when the NY metals market opens? Blythe is obviously losing suppression power. It seems from the experts; Turd, Trader Dan, KWN, Harvey, Turk, et al. We are nearing the Moonshot for Silver....$40 to $50 in the near term?
I hope so!
Too bad for family and friends who looked at me cross-eyed when I was saying buy silver, last year at the ~$22 price.
This is the largest gain in Silver I've seen during the Asian overnight markets.
+2.48% Gain.
Just be careful here. I have seen and read this kind of euphoria on silver blogs for over ten years now. Every breakout is about to be a moonshot.
A reader sold his house and net proceeds were 100 percent in pm's after paying off debt. How many of you overweight pm's have three months of living expenses?
The government will not allow complete loss of control. An interest rate hike or other ways to tighten money will be used if necessary to keep fiat valuable. The cb's are willing to amputate both legs and pluck out at least one eye to save the sick fiat patient, if they have no other choice.
Finally, one SANE MAN here! This "MAD GONE Euphoria" will end badly for many! The FEDs and WS + DC ARE IN CONTROL and will stay that way, for as long as they see fit!
Watch out below!
judging from 2008 they are in control until they're not. the goldman alums were certainly opportunistic in winnowing down the competition and substituting the treasury for their counter party risk, but this whole exercise to date smacks of losing control, imo.
Blah blah blah. Call me back when silver isn't in backwardation any more.
For the last time, THE KING CAN NOT COMMAND THE TIDE.
Libya and silver tonight. Very big news. Glad I am safe.
http://english.aljazeera.net/watch_now/
http://www.guardian.co.uk/world/interactive/2011/feb/11/guardian-twitter...
US:crude oil is up 2 percent also.
http://www.bloomberg.com/energy/
the daily spot price chart since hillary called the ambassadors back looks like increasingly impotent price suppression imo.
Gold & Silver, Bitchez!
http://www.youtube.com/watch?v=ZNGe7iK1O-4
I'm betting that's a black swan song.......
Blythe in her ivory tower, broomstick at the ready.."If we can't win nobody can...crash the fucking lot." Zap
If that's the case and they pop the weasel tomorrow, the rest of the world has a day to scramble what they can while the US is caught with it's pants down celebrating "president's day".
Well how about timing? The euro markets are falling like a rock.
ECB will start printing euros to pump those markets any second now, a futile attempt to stave off the inevitable. NFLX and GOOG will be worthless by tuesday morning.
jaime to blythe "get back in there and sell,sell,sell."
jaime to blythe "get back in there and sell,sell,sell."
jaime to blythe "get back in there and sell,sell,sell."
btw witches and broomsticks: they "rode" broomsticks because the shortened handle was used to apply psychoactive/hallucinogenic compounds vaginally. had to share.
How can I BTFD if there isn't a FD to B? :(
Should have bought two weeks ago when I was debating myself on it.
Also Brent headed straight up at almost $105, and WTI up 3.4% to nearly $93... don't look now but it's catching back up.
Isn't it great to be alive?
gold just printed 1400 !!!!!!!!!!!!!!!!!!
gold just printed 1400 !!!!!!!!!!!!!!!!!!
Make that $1404... now.
Silver $33.48
http://finviz.com/forex.ashx
Monday, Monday -- its gonna be a helluva week - Go Long, get your Physical fellas
I wonder if Blythe is actually watching this..
The biggest dip in two days, a wopping drop of 34 cents was bought and it's looking to break the 3.49 high as I type.
Hi Blythe,
Destiny here.
Inflation is "tame" and "under control". Right, Benron?
Yeah, I'm sure it's all going according to plan.
Better check to ensure the Jet-A on your Gulfstream is topped-off, Benny Boy.
Will it break $33.50? That seems to be the line in the sand at the moment....
33.50 is so 10 minutes ago!
Onward and upward my Silver rocket
$1403 for gold and an hour till us market opens,
boo yah. bitchez
Are the markets open on President's Day?
No US markets open today..
oh yeah someone forgot to tell kitcko
http://www.kitco.com/market/
globalization bitchez.
no
Yukon Cornelis was just spotted air tossing his ice pick in the vicinity of the FRBNY.
As gold/silver becomes more scarce look for increased premiums at bullion/coin shops.
Unfortunate but true.
I am still a buyer at these prices. Physical only...and long paper oil.
Shorts getting creamed! Keep printing Ben! Keep shorting JPM, HSBC... the trend is our friend.
I came into a decent pile of cash following the sale of my house 2 months ago and wanted to covert it into physical PM. The gold was easy enough to find, but trying to buy physical silver was real work. The two coin shops I knew of in Austin were always out, and it took weeks of constant phone calls and hounding to procure it. I keep telling people, you may have a million bucks and finally decide to buy silver and gold, but if it ain't for sale, it ain't for sale. I speak from recent experience (on coin shops anyways) the shit is getting scarce!!
The coin shop near me sold their last 2 tubes of silver maples at 40.00 each on Friday. 10 oz bars were selling at a local coin show at 380.00 and gold maples at 1500.00.
Auch, that could bankrupt them :)
no fine print about limited supply also?
Melter could order 5 million pc, and sell them right back above the premium and recover the sales tax :)
Whatever silver does this year, I'm keeping on to it till I can retire on it, even if it takes another decade!
AND I'LL KEEP BUYING UNTILL IT GOES TO THE MOON!
Royal Canadian Mint allotment for 2011 maples is a done deal. The million 2011 grizzlies are presold. The mint, I believe, is supplying the market at a loss or are holding big short positions. The US mint is probably holding a bigger short. Both mints must supply no matter the supply or price. Failure would reinforce supply shortage rumors.
Every retail supplier has stock of eagles or maples but getting very short on bars. Mints must have first dibs on supply so when retailers run short on eagles and maples the gig is up.
BTW I supply that shop I mentioned.
silver is in a bubble!
Well, being that Bigger Dickus, Appaling Smails and William the Bastard could not be here (they had previous engagements) they asked me to fill in for them.
Could anybody else help out by posting your favorite anti-gold slogan?
You can't eat silver is too worn out already
silver was 50 in 1980, so you still have 20 more to go before you make your money back
The government is developing technology that can detect silver in a person's house from 2 miles away.
there's enough silver in discarded electronic.......
Ooo... I've got one. (ahem, ahem)
You dig it out of a hole in the ground, refine it just to stick it back in another hole in the ground.
Thank you. Thank you very much.
Somebody tell Warren the same thing applies to cotton farmers....they grow it so it can be printed into notes so they can grow some more.
Pointless, huh ?
he just got the Presidential medal of freedom
You'll turn blue and then the government will confiscate it. You will be a penniless smurf, mocked and derided by all.
Turning blue will be the tell.
"To be a penniless smurf, mocked and derided by all." LOL.
Oh you got me, now I'm really pissed off. </sarc>
This seems like an appropriate place to post comments that I posted to an old thread and few ZHers probably read... I do not make a habit of reposting but this is an exceptional time and my comments may or may not be worth a read... Please indulge me this once. Thanks...
by Snidley Whipsnae
on Sun, 02/20/2011 - 07:52
#979291
We constantly hear the refrain 'don't fight the Fed'. We also know that one thrust of the Fed's current policies are an attempt to break the Chinese Yuan peg to the dollar. Printing 'lots more dollars' and letting them flood into China, whether via hot money flows or via Wal Mart (retail purchases), turns out to have the same effect in China since China purchases the inflow of dollars and then issues Yuan in exchange. So the Chinese Gov has little choice about printing more money if they wish to maintain the Yuan peg, and wish to remain the lowest price volumn exporter, and wish to continue to sell to the US and the rest of the world. China's is a mercantilist economy, iows.
What if China wished to stop printing more Yuan for dollars, thereby slowing inflation in their own economy? How would they go about it?
China could erect trade barriers with the US, ie, stop taking dollars for their exports. Of course, as long as the dollar is the world reserve currency, and most OIL trades are settled in dollars, and China needs lots of OIL, this is not going to happen...and, supposedly as long as the US provides military protection for the major ME oil producers they will accept only dollars for oil.
What other action might China take to stop the flow of dollars into China? They could borrow from the old US/Western playbook and require payment in commodities, specifically in PMs. When the world was on the gold standard and the US was the worlds largest OIL exporter (yes, the US was the worlds largest oil exporter prior to WW2) and largest exporter of most manufactured goods, the US required payment for exports in gold or other commodities. This caused balance of payments and currencies to be mostly self regulating. If a foreign country did not have the gold (or other commodities) to pay, they didn't get the finished goods, or oil, or other commodities from the US.
What does this ramble have to do with the price of bananas, you ask?
I believe that the Fed, other central banks, and the Chinese monetary authorities all recognize that the great problem that exists in the world economy is caused by the freedom of all governments and central banks to print all the fiat currency that they think they need. Since the quantity of the fiat currency and debt instruments no longer have ANY relationship to the amount of acutal commodities available for consumption this will lead to inflation and, in some countries, hyperinflation. We are seeing it now.
China is currently purchasing PMs as fast as possible through every means possible...even purchasing paper ETFs and taking delivery of the (supposed) underlying physical metals... For what purpose, you might ask.
I believe that the only reasonable conclusion for China's enormous PM and other commodity purchases is to accumulate enough PMs, and foreign debt instruments, to force the introduction of a new currency that is backed, to some extent, with PMs...Not neccessarily the Yuan...but perhaps a world currency for settlement of international trade. Of course the Fed, and all western central banks, will fight this change to the death...we are seeing this now as well. That the citizens of the world are casualties in this economic war is not a consideration for western central banks. Western central banks are certain that western citizens will not revolt. China's government is not so certain...China has seen many uprisings of citizens and toppling of governments.
But, China is certain that they can outproduce any other country in the world, ie; more production per bbl of crude oil consumed, low labor costs, little if any gov social spending, environmental destruction, etc, and China is not afraid of competition from the 'developed' countries that have huge social transfer payment programs. Of course, the western central banks might win this economic battle and China might go down in inflationary flames...historically central planning has not worked out well.
But, if the Chinese win the economic battle the refrain might become; 'Don't fight the Chinese'...
Physical wars between nations are generally sporadic events, economic warfare is continous.
RE China. This is just another example of our leaders selling us out. While Ben stands on his head to keep the paper game going, Asia is in the process of accumulating real wealth.
the banksters, et. al. will fight to the death (someone else's but not their own). re: china losing to inflationary flames because historically central planning has not worked out well: imo the "west" (includes japan) now offers an epic lesson in the folly of central planning, especially when done by thieves, fools and knaves.
WSJ article this morning on silver hitting 30-year high, never mentions Comex OI or the JP Morgue involvement:
http://online.wsj.com/article/SB10001424052748704476604576157842581304856.html#articleTabs%3Dcomments
i was momentarily captcha'd; i've forgotten what i was gonna say, so 'ill just see you in few, in caso i remember.
The latest from Wynter? Don't know if anyone seen this yet but worth a look?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_J/threadvie...
Tally Ho!
This is to acidtesy dummy @ #981050, above, who rites: "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."
please by advised, iyam not responsible for her spelling.
the P is a precious metal which also has industrial uses, much like silver. due to those uses, ownwership of these coins or bars from a reputable mint, forked over under penalty of death, from and ANA dealer for cash, might be a play. the platinum eagles are from the US Mint. They say $100 on the 1 oz. but they are not money, according to the constitution. Just gold and silver. So the plats are strickly a bullion play, ultimately, i think.
Same as Japan. Their banking rules make ALL PM's bullion.
In the US, gold and silver coins produced by the mint are the safest place to be, in my opinion. plus, they are so freaking neat, that i hereby declare them ALL "collectibles", too!!!
any other reason, slewie?
yeah. the tax laws.
slewie out.
An interesting observation: Our Bay Area Sunday newspaper did not mention silver's 7.7% gain last week
An interesting observation: Our Bay Area Sunday newspaper did not mention silver's 7.7% gain last week
Why i do understand that JPM can potentially lose their ass on the massive short positions...I would imagine that they have this venture hedged on the other side....would'nt you think?
Can someone on here, smarter than me explain how a surging silver price COULD potentially cause big problems for JPM?
And, can someone explain why if silver going to the moon is bad for that whore Blythe....and JPM....then why is their stock continually going up? (I know that the stock market is based almost completely in fantasy...but still....you would think something like this would show SOME downward pressure????)
(I am not being a smart ass either...I am seriously looking for some community insight on this....)
According to the Bernankulator... (see http://www.minneapolisfed.org/ upper right column) ...the all-time Hunt Boinker record is 133.96, so we have a distance to travel yet!
In gold we trust.
In silver we trust.
In fiat we... convert to physical ASAP !!!
$36.20 boys and girls. Whats happening is that people are taking delivery. As each days passes the demands on the physical market are increasing. I think a potential disaster for Comex is brewing. All eyes on June. How will Bernankenstein NOT monestize the national debt? He can't just stop. Even if he stopped the buffet on other toxic paper he still has to deal with the deficit. The ramp in silver and gold will continue unabated in 2011....
I think the continuation of debt monetization is being priced into metals as we speak. Silver and gold are banking on this continuing far beyond June.