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PM Selloff Reason: CME To Raise Margin Requirements For Silver From $5,000 To $6,500
And if that doesn't work, there is always confiscation.
"CME confirmed silver margins raised from $5000 to $6500 (30%) effective 11/10 settl - no other metals effected"
Presumably, this affects the maintenance margin. And is a lovely way to kill paper longs.... but not shorts, of course.
This is also the last remaining self-regulating way for the market to tell the genocidal lunatic in the Eccles building to go fornicate himself, and his excess liquidity.
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Robo- I generally enjoy your posts, but it is unclear to me what you would delight in evidence (and results) of further market manipulation. If you're not a fan of free markets, OK, but if that's the case, I'm not sure why you're at this site.
Gold & silver make Robo look bad because then his nominal stock market gains are revealed to be losses. Thus, if ever it goes down a penny he immediately pops up with a chart smugly claiming that it surely is crashing to nothing, or some such.
I am beginning to think he is paid to post just to generate clicks.
i'm beginning to be inclined to agree.
He operates like the old Coon. I come shit in your driveway and then high-tail it out to the woods to watch when you step in it.
Asshole! That was you? : )
I think that he is a less- on (one step above a moron), like Johnny Bravo, and posting here is very flattering for him because he gets a lot of undeserved attention. The best way to respond to him is not to respond.
Looks like its over Thanks for the belly laugh Robo, that was funny!
Hulk, been awhile, hope all is well.
They bash gold & silver like this again tomorrow in coming days, I will just buy more. Cash has come in, cash will be used on PMs.
All is well DCRB. THEY are broken records. Ag and Au continue now on their upward trajectory.
Go all in short, faggot.
Robo, prepare to eat crow...
"CME confirmed silver margins raised from $5000 to $6500 (30%) effective 11/10 settl - no other metals effected"
Can someone explain this for a silvernoob?
FU.
Love,
Blythe
30% more fiat where their mouth is.
Explanation: http://seekingalpha.com/article/178831-comex-raises-gold-and-silver-margin-requirements-validates-bull-market-strength
Damn good question...
Why this mesure kills the long but not the shorts? It affects both, doesnt it?
My thinking exactly - as far as I know the maintenance margin has to be paid irrespective of the long / short aspect of the position ?!
I hope someone answers. I am specullating that maybe the shorts are bigger institutions that are not so liquidity constrained, but I really have no idea about this.
That's what I was thinking.. Although, one could certainly justify a margin increase with the increased volatility. But, again, why just silver.. My FX account has doubled its margin requirements..
I also think it's a sign of turmoil ahead and they don't want to be on the hook so an increase of margin lightens their exposure.. I guess..
But, I would certainly agree that this margin increase doesn't effect the big boys and would ultimately work for the shorts.. If that is indeed who is shorting.
Was this the "Zerohedge" top in Silver?
If it goes much lower I'm off to the bank to buy a crap load more 1oz Plata Libertads!
...libertads are some beautiful coins.
What Bank?,you in Mehico?
Been lookin for Libertads.
Helter skelter.
Shit jimmy, I'll play.
Weren't these the same fuckers who told the regulators to go fuck themselves regarding position limits?
30% increase in margin requirements dropped SLV over 7% in 2 1/2 hours. Reveals the Casino aspect of the PM markets right now.
The funny part is that we are only down to the level of Friday's record close.
OH NOES, TEH WURLD IS ENDING! USDX RULLS U!
+1 and not sure why you were junked on that. There is a casino aspect to all of this; doesn't invalidate a thing.
Just how is that investigation into naked short selling against JPM and HSBC going?
The "investigation" just showed how bad off the playerz really are, hence, the move by the CFTC to "bail them out". The CFTC are now just an arm of the Fed. Are the big playerz even bound by this ruling?
If a player cant handle a margin increase because of being ultra levered they deserve to lose a weak hand. This is positive for you physical holders looking to add.
Amen..!
+1
This is a good time to buy the dip!
I mean Gold hasn't been so low for... the last 28 hours!! Same for Silver.
Turd's buy-in level crossed.
When POMO money is spent on taking gold and silver down, its not available to keep the stock market up.
In plain, simple terms, you sir are dead fucking right.
This is bigger than raising silver margins...EVERYTHING GOT CRUSHED when London closed...the Euro fell through the floor, crude just went through $86 after flirting with $88 a few hours ago...An intervention somewhere?
agreed, something's going on.
CME spits in Chilton's eye at the mere suggestion of position limits, much less removing exemptions for the naked short bullion banks, then pulls the same old "change the rules in the middle of the game" trick just like they did with the Hunt Bros in 1980. The bullion banks can get unlimited freshly-keyed cyberFeRNs from the (not really) Federal (with no) Reserve, if they must post margin at all, so no worries on the short side.
Our bought-n-paid for toothless lapdawg regulators complicit, as always. Like Jim Willie says, the mailroom boy doesn't give orders to the executive suite, never has, never will.
This latest underhanded scheme may backfire terribly, as the Asians and all the poor stragglers see this dip as a final opportunity to convert their vaporizing FeRNs, worsening the struggle to get real physical metal.
Miss Fan, meet Mr. $#!+
When are the fail-safes going to kick in and stop this thing? I hope they don't. But I'm surprised they haven't
Soooo...is gold going all the way to 1360ish? and silver to 25ish? i'm getting tempted, and i don't even have any FRNs to buy it with.
Use the force, Luke.
Both have resumed their upward trajectory.
I realize CRUSHED is relative...over a week, the move is nothing, but for interday, it's big. Gotta be shaking some late/weak longs out, giving others the chance to get in/cover?
I buy PHAG.L to trade. I know you guys (and gals) hate ETFs and I know that they are used to short, but paper can provide good profit without the hastle of Ebay.
Chart: NQ
Broadening Top.
http://99ercharts.blogspot.com/2010/11/nq.html
http://www.zerohedge.com/forum/99er-charts
ROFLMAO
Wheeeeeeeeeeeeeeeeeeeeeee!
I just got off the phone to some Chinese and Japanese commodities traders. They say "thank the CME for us, we will be buying up silver and gold overnight by the ton" from the "US over-margined gamblers."
Watch what happens to ES at 3:01pm cst.
ES mini-future pump or dump in first minute of AH?
Whatever it takes! It's time to go Balls to the Wall!
Head 'em up and move 'em out!
keep calm - not surprised if we discuss a completly different picture tomorrow
Just when you think silver will no longer be manipulated by the JPM banksters--under godmother Blythe--it is manipulated by the CME.
Hey Beanieville, speaking of tullips - how did SSTY and PBLS work out fer ya? Hmmmm? lol
Jesuss fucking christ. what the fuck happened today?
I take 1 day off and the world blows up...
That'll learn ya.
Behold what thy inattention hath wrought.
BB is fondling the currencies and making Pm's bend over and proving he's the daddy to all the boys and girls at dinner tonight.
This isn't going to stop the rise - hmmm.... this could be quite destabilizing...
well, it sure did a good job of it today! 7% roundtrip..... nice
God damnit, I can't play trades when this shit pops up. I'm holding SSRI and PAAS, doing quite nicely and suddenly around 1pm everything starts heading rapidly for the shitter.
When the dealer gives your opponent a new hand because he doesn't like the one that he's holding would you call that risk?
Or crime?
Fuckin' A. Thank God I got past my damn anger and immediately dropped at the money puts against my positions before closing them or I'd have been hosed.
This makes my goddamn blood boil. How the hell can I trade when shit like this pops up out of the blue?
What if I'd have been away from my desk and couldn't drop an immediate ad hoc hedge???
This crap was falling fast enough to nearly trade through.
Stops don't get triggered. Scary.
The flash crash reality. Your money - gone.
Physical is the only way to go.
Yeah, forget the fundamentals and technicals, there are no markets any more, only interventions. You figger the Vampire Squid was tipped and had their shorts in place too.
If your name was Carpone, yous could send your boyz to loint dem white shoe milktoast pukes a lesson in a back alley for F'in' wit' yer trade.
The groveling lapdawgs at all the alphabet agencies, including Dept Fatherland Tyranny, sure aren't going to do anything about a multi-trillion FeRN fraud.
Margin is a function of price and underlying volatility. Do you really think it was an elobrate plan to dump the market???? The cotton margin has risen 7 or 8 times in the past month yet that has not stopped it from goign limit everyday. Get a clue man. Everything is not a grand conspiracy.
the man has a point
Everything isn't a conspiracy, but that does not mean that NOTHING is.
Conspiracies do exist, whether you like it or not. At this point it is pretty damn obvious that there is a very large, pervasive conspiracy to defraud investors in the silver market. With the rampant corruption we have witnessed, is it unreasonable to think that this sudden gargantuan move in the middle of the damn trading day?
Was this action decided on DURING the trading day?
Why trade on margin when it can be raised with virtually no notice?
Why indeed. Just buy physical.
Here's one guess. PMs are heading down because the dollar's up strongly.
The dollar's up because the euro's down.
The euro's down because there's some bad news coming in euroland, like a default.
If so, PM's shouldn't drop too much more, unless the dollar goes through the roof, until the seesaw reverses direction again.
you should own no more gold and/or silver than you can run with at full gallop for one mile.
runners will be shot.
all hail the most precious of metals.
available in assorted calibers locally for immediate pickup. and hey, no margin requirements.
You should have gold, silver AND lead. None are exclusive.
True. If we are headed toward anarchy, lead trumps gold and silver always. And more bang for the buck, so to speak.
If we are headed toward anarchy, lead trumps gold and silver always
Perhaps not:
"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
Get real, johnQpublic couldn't run a mile in helium inflated pantaloons...
I read the EURO was the culprit, it dropped, and raised the dollar....plus the PIIGS are back on the table.
We can't catch a break,plus I think we had a ton of ETF fkrs taking profits.
LITTLE POLL PLS SIRS/LADIES.
If you could ONLY have your choice in ONE of the metals what would you choose and why?.
believe it or not...copper. Go ahead, laugh, but it's where no one is looking - and there's enough of it to be a currency.
silver drops almost $3 in a matter of hours after the recent run-up! have ordered more physical :)
Ominous looking negative price-MACD divergence developing on PMs. Just saying...
Putting your savings in PM is the best way
to say fck you to this corrupt system.why?
When you take the money from savings acount
you hurt them ten times because of nature
of fractional reserve banking.Then when you put
them in PM(physical only)you hurt them 100 times
because of nature of paper gold market.That means
you deleverege them a 1000 times!!!!!We the people
have to use this final and total weapon of financial
destruction against the banksters.
Buying some extra ounces tomorow,thank you
We have to kill the big banks to grow
our econemy again.Big banks are not
good for local community's.They are not
good in allocating capital in the small veins
of society,we need small local banks.Banks
whom have a connection with the people and
specialise in small local productive company's.
Big banks feel to good for investing and are
only supporting gambling and rigging and front
running the markets.
Denninger:
+++++++++++++++++++++++++++++++++++ Discussion below (registration required to post) The No-Shop ZoneChristmas is coming.
Black Friday is coming.
And you, Dear Friends, have a choice to make.
You can ratify - or reject - the illicit $600 billion tax increase that Bernanke just landed on our economy with his ill-conceived and outrageous "Quantitative Easing" nonsense - especially the most-vulnerable members of our economy - the poor and working poor, who are disproportionately impacted.
How?
Simple: DO NOT DO BUSINESS THIS HOLIDAY SEASON DIRECTLY, OR WITH ANY MERCHANT THAT BANKS WITH:
These are the four largest banks in America. They are the ones who disproportionately benefited from the bailouts, and who continue to hold hundreds of billions of dollars on their balance sheets of HELOCs and other home loans that are worth far less than what they are claiming.
These are also the banks in the middle of Foreclosuregate. I remind everyone that Citibank's former Chief Underwriter said, under oath, that Citibank was knowingly making bad loans - 60% by 2006 and 80% by 2007 - and selling them off in securities to pension funds and other investors. Instead of being forced to eat these bad loans and be closed as a consequence they were bailed out with our taxpayer money, and still are by Bernanke's "Quantitative Easing."
Exercising your lawful right to refuse consent to this is simple: Ask the merchant you are considering purchasing from who they bank with. Be cordial. If it's one of the above, take your business somewhere else and tell them why.
If you have accounts at these banks: Close them and move your money somewhere else - to a local bank or credit union.
To Merchants: You can avoid this. Close out your merchant and deposit relationships with these institutions. Use a local, community bank instead. If you're a large chain, use someone other than these four. There are alternatives and choices.
We as consumers must choose. We have every right to deny these institutions any benefit from our business, and to continue to do so until every one of their so-called "assets" is marked at the market, transparently, and the Federal Reserve's "accommodations" that are making possible the hiding of losses - both QE1 which created a huge ramp in oil and commodity prices, and QE2 which is doing more of the same, along with severe damage to the value of the dollar, is withdrawn and in fact reversed.
We have the choice to withdraw our consent to the inappropriate levying of an effective $600 billion tax on Americans via higher prices for gasoline and basic foodstuffs - a tax that disproportionately hits the poor and middle class. A tax that is seventeen times the size of George Bush's "Tax Cuts", yet was unilaterally enacted by Ben Bernanke without Congressional authorization or debate.
Freedom of association includes the freedom not to associate and not transact. I elect to do so for any firm that banks with these four "monster banks" who literally ate our nation's prosperity.
JOIN ME IN THIS PROTEST, STARTING NOW, AND DENY THESE INSTITUTIONS ANY ABILITY TO PROFIT FROM YOUR ECONOMIC ACTIVITY.IF EUROPE IS THE PROBLEM - AGAIN.
WATCH THE MOON SHOOT TONIGHT!
European cash will march straight into PMs.
Forget the Dollar. The Dollar is dead. The Euros are converting into PMs. Loads of it.
So I wuz thinkin =
if I had all gold fillins in my teef would I have to take them out to comply to the margin thingy.
See cause I figurred that I cud buy gold, melt it down and use it for fillins. That way, No one would no I had sum and thay wudn't kill me fer it and then when it hit 5000 an ounce like James Turk says it's gonna then I could cut my teef out and go to the jewelry store or one of dem dere cash for gold places and hand thim in for sum big cash.
Then I cud take my honey out for dinner at sum fancy resterant.
Wud ya'll thunk
keehuck.Whats a bubble? I'm scered
Oh an that beanievul guy - I betcha he's Johnny on the spot bravo.
Jonnny only comes when he misses the rise or misses taking his pill. Notice that
Is it true this increased margin requirements only applies to CME non-members??
http://gregnguyen.blogspot.com/2010/11/increase-in-margin-requirements-cause.html
If a stinking 30% increase in GOOD FAITH margin is enough to rout the market, then you KNOW its a manipulated bubble.
did the pm margin requirements change for the other 3 metals or just silver? if no, why did gold, platinum and paladium drop like Pb too?
IMO, the boyz were called in to help bail out their butties.
"This is also the last remaining self-regulating way for the market to tell the genocidal lunatic in the Eccles building to go fornicate himself"
and while he is fornicating himself i pray to god that he has terminal syphliss.
CME have shot themselves in the foot.........again. the Asians stepped in and took the profits. GET PHYSYICAL. it is precisely for this reason that the new funds setting up will be backed fully by physical
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