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Silver just passed $38 as gold just hit a new all time high. What can one say but "Thank you Chairsatan."
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Well, don't go nuts, I get so friggin sick of a $16.00 day on Gold, and the next it drops $32.00.....seen that play so damn many times it makes me nauseous.
ben will not admit inflation - he will induce it to get those poor souls to spend the FRN's that are going worthless..like Argentina go out and spend those FRN's as soon as you get them for they won't buy much tomorrow..that's how he plans to stimulate the economy with "spend it now "as the new fed motto..it will fail he knows it, we know it, but what else can they do??
PM's, commodities, on a rocket willingly backed up by Ben and Tim..keynesian nightmares come home in flocks of black swans..
"inflation" is complete Benny the Bean BS
Who'd want to print $900 billion (QE2) just to push inflation from 1.5% to a target 2% in the CPI ????
Utter Bollocks
He's printing $900bn to bailout his bankrupt bum-chums in DC and on WS, the CPI has zero to do with it. End of story (Fed snake oil)
ZH....thank you
Silver would not be up were it not for China.
http://www.commodityonline.com/news/China-Silver-imports-hit-record-3500-tons-in-2010-36266-3-1.html
Lee Kui, a precious metals dealer in Beijing, said that a few years back, China used to export silver in big quantities. “For instance, in 2005, China made net exports of 3,000 tonnes of silver. In five years, the exporter of silver has become the importer of silver [3500 tonnes in 2010]. This shows that Chinese demand for silver is soaring,” he said.
So China went from a NEGATIVE -3000 ton/year imports to POSITIVE +3500 ton/year imports.
China is importing about 15% of the worldwide annual production of silver every year now.
It's the Chinese put.
The Chinese know what to do in the face of monetary debasement--
Do you?
China knows whats coming and has been planning accordingly.
In the 1600's they used to talk about the fact that Silver always flowed eastward. Mined in the Americas, shipped to Spain, dispersed to Europe, then headed east for goods.
Nothing has changed in 400 years.
Actually a great deal has changed in the past decade (since 2002) as 20% of the global population, the Chinese citizen, is now allowed for the first time in the long history of the region to own precious metals.
That's 1 billion 333 million people now in the market for something they've been banned from owning. Nobody in their lineage has owned silver or gold and it has not been inherited or passed down.
Here is a nice video I like to share of the Chinese gold mania. Notice the comment that the Chinese are dumping foreign and local currency for gold:
http://www.youtube.com/watch?v=aO7JaIl6nhI
>>the Chinese citizen, is now allowed for the first time in the long history of the region to own precious metals.
Are you high? The Chinese have used silver coins from ancient times. 200BC - 1930's they were using silver (white and black market levels) and had a silver standard. Paper currencies were their attempts to print $$$. They GET it way more than the average American does (unfortunately).
The chinese word for bank mean "silver house/office"
No I'm not high I was referring mostly to gold but:
"However, after the 1840s, because of payment of foreign reparations, China’s silver again became scarce. By the 1930s, the Nationalist government was issuing legal tender pegged to the American Dollar and British Pound. One can say this was not particularly sound monetary arrangement. Then the war against Japan nearly destroyed China’s economy and this system became untenable. In the end, the government issued money lost all credibility and became completely worthless."
"In reality, throughout the last several thousand years of Chinese history, the lower classes have rarely had a chance to touch gold or silver. “10,000 liang of gold! (unimaginable wealth)” and “Three years of good governance, 100,000 pieces of sliver (meaning a period of good governance was often followed by corruption)” are sayings that reflect the reality that the people who actually saw gold or silver were very few."
http://chinagoldnews.blogspot.com/2008/05/chinas-gold-eternal-treasure-b...
duplicate
duplicate
That's what the opium wars were all about. All that silver flowed right back out of china for the drugs. Brought to you by the East India Trading company.
Really just a temporary hiccup on their timeline.
True and the gold and silver never came back to the west. Was that the cause of the Opium War?
True and the gold and silver never came back to the west. Was that the cause of the Opium War?
True and the gold and silver never came back to the west. Was that the cause of the Opium War?
It's possible, maybe probable, that China, SE Asia, and the Mid East are importing much more PMs than they are declaring.
It would not be in their best interests to declare how much they are actually importing.
Truont,
Don't forget the Chinese reclaim silver from tailings so toxic no other country will allow it,( imported in) so a large part of that number is there.
Plus, do not leave out the Indians, they have gone ape caca on Slvr also.
As has the rest of Asia.
If it weren't for those half a billion rain drops in a sea of trillions of rain drops it would be sunny.
There is no inflation. There are no tanks in Baghdad. We have always been at war with Eastasia.
Argentum, mulieres!
JP Morgan can only go bankrupt if the Fed will disappear. Probably they lose a lot of money on their gold and silver shorts. But they are fully supported by the Fed. And the Fed doesn't care about a few billion in losses if this can keep the multi trillion dollar con game alive.
However something has changed. 10-15 years ago it was a paper game only. And it was easy to keep gold and silver prices low. But now more and more people, funds and countries are joining the game. And they want the metal. The result: Higher highs and lows.
The need to suppress the metals has almost never been higher than today. All currencies are on the verge of collapse. And although the Fed and other CB's wish lower gold and silver prices. And have no problem with losing a few billion to achieve this. They can't prevent gold and silver from making new highs.
The game has changed and the train is leaving the station. Much higher gold and silver prices ahead!
"And although the Fed and other CB's wish lower gold and silver prices."...
The central banks don't 'wish' it enough to get off their gold hoards and sell physical into the gold market... the one move that might supress the price of gold while massive fiat printing is ongoing.
Which leads me to believe that the Bernanke doesn't have the gold to sell.
Screw the Fed... Keep up the buying pressure and grind the azz hats to dust.
I would be stunned if Western Central Banks hadn't leased/sold huge portions of their gold reserves into the market. It's not like they are audited on it and gold is the #1 enemy of the CBs. And since they lose their power once the paper game dies anyway it's in their best interest to sell ever last ounce to defend their position. Ultimately the paper game will end, but they will have plenty of time to feather their own nests.
I predict that premiums on physical (including Sprott), are about to skyrocket as JPM ramps up their paper game with their new PM* vault.
* Paper Mâché
+1... Yep, paper vs physical disconnect coming to a village near you soon.
From Harvey Organ:
"There are 6 trading days left to serve upon 3,780,000 oz of silver. Thus the bankers need:
630,000 oz in each and every day to serve upon our patient longs."
http://harveyorgan.blogspot.com/2011/03/silver-advances-past-3700premium...
They'll use the new "vault" to deliver it to themselves and the longs get a delivery notice that their metal is now safely stored and allocated in the JPM Vault for them. Those standing will have to once again request their silver with new forms and excuses and do dads to wade through. The whole scheme is a sham, but it will stop the damn from bursting at least for a month.
Sickening. And it may end the COMEX as a market if you can't get silver.
Not to worry Jefferey Christian says there is plenty of silver with 500,000/ozt floating around the system at any given time able to be bought immediately for the asking.
lol, what about the other 3.28 million needed?
Of course most likely nothing will actually be delivered, they'll just say it was. I wonder if the guards are being threatened to keep their mouths closed about how little there actually is in the comex vaults.
is the spot gold/silver chart on right to update automatically?
It updates very very slowly and is not to be relied on.
38.12 Go Baby Go, Suck it Blythe
Wait til the 29th of the month, $45/oz I bet you. STAND FOR DELIVERY BITCHEZ!
or is it stand for deliverance?
Squeeeal, Blythe!
I would prefer Deliverance for the country over one dimes worth of any PM.
We are in deep CACA.When your Hip waders are taking on sludge, you know the caca is deep.
Does gold block radiation in the same way as lead?
America's problems are over...
Suttle unrolls toilet paper tax - http://www.omaha.com/article/20110323/NEWS01/703239866
Shit happens?
Sounds like an ass tax to me.
edit
Oh math man.....where are you ?
He is digging silver out of the ground for 5 USD.... So he can trade it for electronic FRN's. Which are of course much more expensive to produce. And much tastier!
He's in his back yard with a shovel trying to find Silver. It only costs $5 to dig it up.....
edit
Is there a chance it could dip below $36 again? Any chart analyst...
You can throw those charts out the window... We are in uncharted and unchartable waters...
Today's spike is yesterdays dip......
Shit, I was too conservative to buy silver recently - Gold gives me more comfort but I ain't selling me silver.
BE CAREFUL FOLKS: Do you really believe Blythe has left the scene? I'm waiting for a truly massive raid either Friday or Monday. No matter; silver to at least 50 by July 1.
agreed. people tend to forget price manipulation and think because it's soaring we're in the green. this could all come crashing down with enough intervention which has to be in the cards very, very soon.
The only thing people need to be worried about with Blythe is to not blink when she raids. She knows when a lot of new money comes into the market & with her raids she quickly shakes out these weak hands. Prices just bounce right back. Investing in this volatile silver market requires a strong pair of stones, particularly for those who are just now entering the silver market.
The higher the price the more demand for metal.
It's a vicious circle ending with the strangling of JP Morgan.
i do sincerely hope for a "truly massive raid" so that i can get me some more. if i didn't have so much to lose credit-wise, i'd love to max out all of my credit cards to buy PMs and send a photocopy of my middle finger to all the banks that issued me their plastic.
online sources will only give you 3k of pm's at a time on a CC
whats a man with 25k limit cards to do?
Buy something else relatively fungible elsewhere (Best Buy?) and hawk it on e-bay for FRNs; consider any loss you take on it as part of your 'premium' for the PMs.
No, LEAR, APMEX, will give you $5k.
%
Cash advance on the card, buy the precious.
Credit card Co.s will also send you monetary advance checks from time to time, spend them (of course, the cash advance rate is higher!)
Friday would be a perfect day for silver to get hammered down. I love goin' to border gold on saturday afternoons.
I'm considering buying some puts on SLV for the first time.
It's a game of runs and silver has diarrhea
Vivid Films presents Long John Silver featuring Blyth Masters in "Takin' The Spike"
LOL!
Followed by the feature BTFD: Blow The Fuckin´Dick.
Seems that March 13 prediction that silver price increases will accelerate till around 45 USD in few weeks may be on the right track:
http://saposjoint.net/Forum/download/file.php?id=2673
Heh. Murda 'dem banksters. Murda 'dem and da family 'dem belong to! Murda 'dem! Mana murda 'dem! Fuck a compitition, mana murda 'dem.
Wit de tunda an de eart-quake...kill the pope.
You know it's funny. The pope, Christianity, and all major religions are nothing more than mushroom cults. He dresses up like a big red and white mushroom, and then tells me I can't eat mushrooms, when I know the vision quest is what seperated man from his body. Mushrooms are what make us more.
At night we visit realms togther, in a quest to find true meaning. DMT drips into our brains as our brain hums electically. This fourth dimension, we find it together.
Yet this pope mother fucker tells me I can not eat mushrooms. Aldous Huxlet says he and the pope can fry balls, but I can't. Kill 'em all.
Thank you Chairsatan!
I saw a talking head the other day refer to chairsatan as...
"the Bernank" hmmm, wonder where that came from?
LOL
Remember which one?
Bugger me dead. Thought that would take another week at least.
SPX
Time to buckle up?
http://www.zerohedge.com/forum/99er-charts-0
I'll let you know when the POMO bus leaves town.
hope you're right 99er ...was praying S&P would ping down on your pink line at 1300 .....but looks like it'll be around 1312 .... if it does it may (finally!) put to bed the Fed conspiracy theorists once and for all...
...though Benny the Beans aim to trash the $Dollar is going fuking well !!!
PS. thanks for the charting, always an enjoyable 'read' :)
Fed raising interest rates would be hilarious.
More likely to send everybody a $100K check.
Then the Treasury will have the IRS audit them all in order to recapture their share of the booty. Well after its all been spent, that is.
Bastiat, sounds like a joke, but you are spot on.
IF this was not a PLANNED DECONSTRUCTION, doing that to every listed Taxpayer, would have had this economy singing WAY before we got into a 14+T mess.
But, then, that is not their reason for crashing the bus.
We are so stupid (the states Governors NOT forming full blown militas), training them with (Ex Mil) and having the men furnish their own weapons, and ammo, it's insane.
If every state (except the obvious sell outs) did this,we would be miles ahead.
It would. We'd laugh so hard the United States would crumble into oblivion.
And just got this email from Ivy Funds. I swear, every email I've received since the quake happened sounds just like this:
Global stock markets have pulled back, some more than others, in the
wake of the devastating earthquake and tsunami that struck Japan
on March 11. We believe the negative equity market reaction is more
likely to be part of the rolling consolidation of last year’s advance,
which many have been expecting, rather than the beginning of a sustained market downturn.
The Fund has held a moderate hedge anticipating a consolidation, but for the reasons above, barring further negative issues we will be looking to buy into the dip, rather than become more defensive.
Why? Because everyone knows there has to be more QE, or they're all dead.
Mining stocks in general have been pathetic. NEM is up about .30 today. I guess you have to consider the source.
NG is killing me too.
Any thoughts on why PSLV is getting beaten bask as spot is climbing?
One of the reasons funds like PSLV are attractive to traders is they can hop in and out of them. I'm thinking some longs closed out above the $18 mark due to the 2-day run up we've seen, and will wait for another dip to hop in again.
NovaGold is a cult stock...look at a stock like Primero Mining,trades well under book with solid production.
Fuck paper.
I agree - definitely a physical fan.
But until I flip the switch, suck up the penalties, and cash out the family IRA's altogether (to buy physical), PHYS/PSLV is the best of the bunch.
Wish I'd cashed out a long while ago, but for right now, gonna ride the wave to the next consolidation.
blew right through $37 and now $38 is the new $36 it will lollygag round $38 now for awhile.
Wait till this goes VIRAL, when Geethner determines the new makeup of our coinage.
Can you imagine a Silver Eagle,or Gold Eagle, at .700 Slvr/Gold content, well get ready, I thing Rectard is going to screw the pooch.
IF he does this, better grab all you can get BEFORE at whatever price you can get it.
http://www.youtube.com/watch?v=yWp7qrqGlXc&feature=fvsr
http://www.wvec.com/marketplace/microsite-content/eagle-cam.html
cam..eagle nest
Ok- after reading all these comments, I am now gonna sell half my silver and buy lead. You guys are really scarin me.
what about the other half? hypocritical speaking...
Thanks for making my point.
You're welcome Tyler.
Thanks Ben! U da man!!!
wanna screw JPM? get as many credit cards as you can from them, max out the cards buying silver, never make payments!
Thank you RECOVERY!
Silver is now the middle class man's metal. The poor can no longer afford it at $38. Buy an Eagle for $42 at the coin shop or feed a small family for a few days or fill the car 3/4 full with gas? Soon it will the rich man's as the middle class won't even be able to buy it. The U.S. mint will be relieved.
The U.S. mint will be relieved
yep,lets see if Timmah does a BiMetal on the Eagles.
Their looking at it as we speak.
Two days in a row relentless strength in PMs until happy hour kicks off in CET time zone. Note to JPM/CBs – FREE BOOZE FOR EUROPE would help your ambitions...
On a side note, went into Zürich Tuesday morning and the spread on 1oz silver coins was 33CHF/66CHF by the station.
So, is it too late to buy silver and gold? Do you think the prices will come back down again, or is the dollar going to continue to lose value?
Did I miss the boat?
No you didn't miss the boat. PMs are not an investment they are insurance against fiat manipulation and central planning. PMs are money outside the system and the system is corrupt and collapsing. While the paper price may waver the physical price will increase as there is less available. The meme, although a decade in the making already, has not become popular enough yet. When there is an app for buying PMs and Facebook, CNBS, Bloomberg and all the other propaganda outlets start to tout PMs and you hear people in the supermarket talking about PMs it still won't be too late as "talking" is not the same as "acting" so act now and be ahead of the population that will get in too late.
Just imagine if all these "financial news sources" were talking about Au and Ag like they talk about Apple or Google or Amazon or Walmart. Imagine if they told people that the TBTF banks were going to collapse, should have collapsed, the bank runs that would/should/could happen.
Dude, Cramer recommended gold just yesterday on CNBS!
So have some of the FastMoney momos. They aren't talking about it likes it's stocks or dotcoms or RE yet.
Comments on latest Rob Kirby interview. He speculates what a bubble price for gold and silver may look like.
http://goldandsilverlinings.com/?p=334
A GSR of 38.17 be intolerable. Parity in regards to the precious and it's lessor utility skilled cousin gold must be achieved.
$2.1702566772 is the total melt value for the 1942-1945 silver nickel on March 24, 2011.
Yep, I'm a noob! I've followed ZH since early spring 2010 and concluded that you guys are the 'merde'. I own as much physical silver as my boxes at the bank will hold, which isn't too much, so I've been buying since Jim Rogers said it was an opportunity in early 2009. Not to be narcissistic, however I'm a former mother Merrill series 7/63 project from the midtown Manhattan offices on 5th Avenue years ago. Just wanted to take a moment to thank so many for your informative posts since I've followed this site. You guys/gals rule! Too many names to mention at the moment.
wow! what a pullback! Going back down to $37...so much for lollygaging around $38
Noon raid.
Whoops, the price is being beaten down now....
Looks like the Morgue has sold some fake silver to put in their fake vault.
The pom pom waving and backslapping on this thread really scared me... I sold every piece of silver I own just now above $38. Blythe's flying monkeys are taking you guys down right now in a short raid as you are bragging about your entries... Do not get too confident... TRADE SILVER... DO NOT BUY AND HOLD IT. Or: Is this too heretical?
Buy and holding PM's is about the ONLY long term PHYSICAL play you can make right now. Rice, wheat, and ammo being some other decent ones.
If you want to trade, trade paper. Just remember this. One day, in the course of about 15 minutes, you will watch your new gained "wealth" evaporate right out of the paper markets and into poverty.
When it fails it is going to be spectacular and NO ONE will miss it.
Second point. All of your paper is subject to government fiat confiscation at the stroke of a pen. See Qaddafi and Mubarak for examples of how fast a banker can steal billions on behlaf of the governments.
If you dont HOLD it, you don't OWN it.
New troll? Pretend to be a silver person, then tell everyone to divest themselves?
Here's a hint, moron:
Bid/Ask 37.49
37.51
Low/High 37.1838.19
Change +0.07+0.19%
30DayChg +4.43+13.40%
1YearChg +20.93 +126.39%Note the "1YearChg".
If you are trading this without holding any reserves, it is going to catch you wrong one day, and you will either be holding it during an epic smackdown, or you will be without it on a meltup, or worse, THE meltup.
I refuse to become fixated by the charts...but what the hell is going on?
Silver is getting taken down right now!
"silver is getting taken down" ...yes like it was at $20, like it was at $25, like it was at $29, like it was at $34 and just like it was at $36 !!
We hit $38 today and there's no fuking evidence whatsoever of Blythe and the conspiracy theorists that (1) JP Morgan are short and dying a death and (2) anyone is rigging the markets and keeping Silver and Gold under price caps
Everytime someone carps up the market is rigged at price $X .00 the market blows through the price threshold ...it's a farce
the price does what it does, Blythe and JP Morgan conspiracies are ghosts in the machine
That is one hell of a raid.
http://www.kitcosilver.com/charts/24hoursspot.html
Tragically I lost all mine in a boating accident so I'm not worried.
Edit: my lead went to Davey Jones locker as well.
First off there is way to much volume for me....the computers are turned on boys...HFT´s are here...playing with the new stops....hang on...its not going down....the world is falling apart...its desperate traders/bankers/countries trying to get a hold of the real stuff.....
Life is like
a roller coaster baby baby
I wanna ride...
Said an enthusiastic Napoleon to Pedro: "Ever take it off any sweet jumps?"
I'm with you all on the gold and silver trade but my experience and intuition tells me that the Bitch Blythe and the Bernanksta need to shake a few more holders out. Ultimately the elite will be on the right side of the trade - they run the casino so they have more chips than the players just like Vegas they will throw you a comp at you once in a while to keep you coming back. Gold and silver both reversing hard - now what does that tell you? I see a great opportunity to BTFD after the end of the month/quarter.
this latest lift in the market should be used as a shorting oppty methinks: http://www.hedgefundlive.com/blog/recent-march-rally-a-shorting-opportunity
I'm going long gold at $1425.
"Here’s a little secret the Federal Reserve Board doesn’t want you to know. On Sept. 24, 2008, while financial markets were collapsing, Morgan Stanley borrowed $3.5 billion through the Fed’s oldest lending program, the 98-year- old discount window."
"The loan came three days after Morgan Stanley said it had received Fed approval to become a bank holding company, giving it access to the discount window for the first time."
http://www.bloomberg.com/news/2011-03-23/morgan-stanley-s-deep-secret-no...
looks like jpm is down to its last silver spoon.
regards
ozzy