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Silver Breaks $26; Shows What A Little RICO Lawsuit Can Do To The Price Of A Manipulated Commodity
Silver hits a new all time record: $26.03 (except for that whole Hunt bros reverse manipulation thing). It is simply AMAZING what a little RICO lawsuit filed against JPM and HSBC will do. How about a 5% price increase in a day?
And for all those patting themselves on the back for what the Fed's dollar debasement is doing to their stock portfolios, perhaps the fact that the S&P is now down 29% YTD priced in silver should be a Zimbabwean wake up call.
And you ain't seen nothing yet. The LBMA (but mostly JPM and HSBC) are bracing for a tsunami of margin calls after the close.
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Homer:
Tell me it ain't so!
http://www.firetown.com/blog/2010/11/03/will-nov-6th-be-the-next-false-flag-attack/
Hillary Clinton, Robert Gates and President Obama will all be out of the USA on Nov 6. Obama will be in India and Gates and Clinton will be in Australia.
About as far away as you can get.
I will still faithfully defend the nuclear the power plant under these circumstances for a few Duffs and a donut. Don't mind the three-eyed fish.
Most important...where will the teleprompter be?
"they" have decided to dispense with the puppet theater and just have the teleprompter on tv repeating
"Everything is OK"
"We are in control"
"Watch the new Dancing with the Stars"
"Please deposit $1000 in the bill slot to watch Dancing with the Stars"
Pistol Palin does dancin into the stars.
honest shit headline on Bloomberg this morning.
Get some of those "special" sunglasses from Rowdy Roddy Piper.
Yea here is my forecast, and if it is wrong I can always make another and another. Tomorrow the meltdown begins in earnest-"Remember remember the 5th of November."
8>)
Well a silver us quarter has always been about a gallon of gas. Food I don't really know, it depends on what programs the government tries to enforce but personally I have about 50lbs of copper pennies to buy food with. Loaf of breed used to be four cents, I think we will return close to that but not in paper dollar terms. Just remember the three basic currencies, gold, silver, and copper.
Buy nickels, they are now worth six cents and going up! A pre 1962 silver quarter would now buy you almost 2 gallons of gas. Two pre 1962 dimes will buy you 5 regular McDonalds hamburgers and in 1962 would have bought you 1 and 1/2 regular McDonalds hamburgers. That is how the Fed and bansters steal our innovation.
Well nickels aren't a bad choice sense you don't have to sort through them 1981 and prior pennies are worth 2.5 cents and climbing. Thats an immediate 250% profit.
Nah, trade the nickels for silver, it has much more upside. I'd rather have one pre-65 dime than 100 nickels.. but then I'm crazy like that..
It's a natural process forest fires are needed for new growth, and as stated the bugs have the other bases covered with investment in lead.
At this time yesterday silver and gold were getting smacked down by double-digits.
Today they are up by even more. That looks like price manipulation to me. Chasing out the longs, and covering your shorts, before a big up day.
Congratulations. You now understand how this game is played.
Yes. But the push down happened at the London PM fix. I dont think the CFTC is looking as closely at LBMA action. The EE probably couldnt drive the price down when they wanted which was right as the Benny made his announcement.
may the blood run in the streets......
how many of us feel sorry for JPM???
anyone?
not even one?
that's a message.
I would give 100oz of silver just to see those banksters sweat. Is that so wrong of me?
Um...please show me red-blood cell one that has been shed by JPM in response to their own legal department's action against themselves.
Do you see the dance theatre or do you not?
!!!!!!!!!!!! Ariba !!!!!!!!!!!!!!!!
Why $1000usd? Why Not $1000000usd because your talking complete global systemic meltdown. At that point the only way to measure value will be relative to say, a pound of rice or a loaf of bread. But only a fool would trade a necessity of life for any ammount of shiny metal. Vodka or whisky would be of greater exchange value and a far better investment in such a case buddy. Purty lips and a tight ass may also be an advantage.
YES!
WHIP'EM AND WHIP'EM HARD!
YES!
WHIP'EM AND WHIP'EM HARD!
Devo "Whip It"
When will the comex triggers stop silver trading? Isn't it a daily 5% move?
I went looking around their website, and could not find any info on silver limits. Perhaps it is a more generic rule and I just didn't know the magic search term to bring it up?
Try "Bug Out Bag".
http://news.silverseek.com/TedButler/1072818610.php
Comex did away with those limit rules long ago after the fiasco of 1992 when May silver went Limit up and the locals started trading in the April contract which had no open interest at that moment - it took about 3 weeks to unwind all the error trades. After that they took the limits off. Many an 8 ball were eaten!
Umm was it not higher during the Hunt Brother thing?
Just put your thumb over that part of the chart. Ta Da!
Brings new meaning to the term "Fat Finger".
I wonder when the mine nationalization starts.
or when we have to start "selling off" national parks (which are filled to the brim with minerals) to large well-connected corporations to help pay down our deficit.
That's only if they can sell the mineral rights that have already been given away to Barrick, thanks to their buddy, GHW Bush.
Otherwise, why buy the cow when the milk is free?
N.P. Rothschild recently became a director at Barrick.
What date was the EPA formed?
The next chapter will start the day Steve Jobs whines about not having enough silver (and/or REMs) to produce his iJunk. As evidenced by their market cap, "What's good for Apple is good for America." This will lead to a national security decision nationalizing all mining in order to save American business.
An alternative to this chapter could also be the banks destroying most miners with recourse loans (Jim Sinclair used to discuss this frequently), leaving yet another needed industry hollowed out from capital consumption (and the burdens of regulation). Then fedgov will nationalize along the lines of the GM zombification "rescue."
Having trouble logging into Kitco's website, that's a telling sign.
Can't get in here either.
jon nadler is slowing down the system so no one will figure out he's been feeding us disinformation all this time.
Yes, I kept trying to get in too- when I finally did it looks to me like it hit 26.00 then flatlined for 10 minutes... WTF? Trading "temporarily cancelled due to a technical glitch" or some other sad excuse?
Crimex is shaking, sputtering, black smoke pouring out of the hood, with a deafening sound of grinding metal on metal- music to my ears. Buh bye. Tootles. Don't forget to write... from your cell.
You can try KCAST. It's a taskbar price display for PM's. It had a couple of dead times today, but it updates every ten seconds.
http://www.kitco.com/kcastwindows/
NWT Mint has the "MyBullionTraker" PC Air webapp. Mine loads on startup and stays on one of my screens full time. There's also a taskbar widget for point and quicklookup if you have closed or lost the main window.
http://bullion.nwtmint.com/mybulliontracker.php
Too many people hitting "add to cart" button at the same time.
I've had good experiences with Apmex, but Kitco has a unique product I might be interested in. Anyone have any good/bad experiences with them? Talking about a product I will be taking delivery in, not a pooled account sort of thing. Thanks in advance for the feedback...
always good for me, then again, i wasn't taking delivery during any sort of mania up or down, so take it fwiw.
If you are talking about Kitco's rhodium, I am sure that all of us here at ZH would be VERY interested to hear about your experience.
Rhodium seems to be very hard to get. It also had a magisterial rise to $10,000 / oz several years ago.
Don't do it. Rhodium is basically a specialty chemical, and comes in the same packaging as laboratory chemicals. You will never be able to sell it to anyone except kitco. It's probably the worst market in the world, unless you are the market maker. Sort of like Iraqi Dinar in the US. It verges on a scam.
Unless you have some sort of insider information about upcoming new uses for hte stuff, or a dramatic fall in production, I wouldn't touch it.
Thank you for the great reply tmosley.
The most exotic metal I own now is palladium, which has had a great run from my average buy in at $375. And that is a small physical position.
Based on the new Careers Tab, it would appear Kitco is hiring. Except that I cannot get to that either.
Silver is here to chew bubblegum.
I'm here to chew bubblegum...:http://www.youtube.com/watch?v=Wp_K8prLfso
delete
I think that dude at Kitco has taken his silver/gold ball and gone home.
Euphoria day...when the new, improved, mega-size POMO's hit then things will really get interesting.
Have we met? Do I know you from somewhere? You look strangely familiar.
It must be the hat, I use to have one like that
Very swank. Will need to find one for myself.
THIS
IS
SILLLVVEERRR!!!!
Tonight Spartans, you dine with silver!
lol...
Hi Ho Silver....
http://www.youtube.com/watch?v=hxIuIxqo2So&feature=fvsr
that was my most favorite frikkin show, ever. and it wasn't a show about a pony. no a real horse and a white one at that. how fucking cool was the Lone Ranger.
I am the Lone Ranger, bitch†
plus cheeks, he got chaps on. like mine, remember?
I'm sure Sprott's silver IPO is helping as well.
What is the ticker for that? Maybe I will consider that instead of AGQ
PSLV
Thanks fellas.
http://www.google.com/finance?q=pslv
up 2% as of 1:48 EDT.
Removed- beaten to the PSLV punch!
I'll be like Leo and only show the 5 day chart. But in this case it's only been trading for 5 days. :>)
Solar stocks bitc.......err..........Silver stocks baby. :>)
It is opposite the 5 day DXY... I like this currency pair!
For the win!
Thanks for help on this.
Been wondering about the "premium" on Sprott physical metals, and how this varies over time==when is best to buy in.
Can anyone tell me how you calculate this premium?
Sad because I'm without much silver!
SS
dumb question,
but why the discrepncy in daily perfomence between PSLV and SLV?
One has actual silver, while the other does not.
dumb question,
but why the discrepncy in daily perfomence between PSLV and SLV?
Read the prospectus on SLV.
Scary, and don't buy SLV.
My 2 cents.....uh....26 bucks!
The future of the green back has something to do with rise....to da moon1
Drop your shorts....Bitchez
KITCO is working hard to balance those pooled accounts. I would be scared shitless if I purchased into one of those and considering taking delivery.
kitco went down on me
OK, I have seen a few of you mention that Kitco is down (the site itself or trying to buy?).
You can always get near real time prices at 24hgold.com (note the "h" in there) as well as at dollarcollapse.com. Neither are dependent on Kitco for gold & silver price information.
TMI!
Though it does explain Nadler's absence.
True, During 2008 crisis peak, I could not convert my Kitco pools to Physical. Finally after a month I could and it took 8 weeks to get that. Never buy that Kitco pools.
For the past two weeks they have been having issues with their data feed. The market is still trading they just don't show it for a while.
RICO Bitches
Short Squeeze Bitches
Bend Over Bitches....
very few silver mines to nationalize it mostly mined as a bi prouduct... mostly because it not profittable since the price has been held below minning costs for a decade'
Hey Jesse- Back from the dead for the PM action?
Jesse in your next suicide attempt just pick a silver bullet,base metal bullet is so pre war.
That's where SLW comes in.
Gold/silver ratio closing in on 50.
oh yeah, mean reversion in progress
Reverson, bitchez!
someone remind me what's the historical mean ratio? is it 20 or something?
15
17 to 1 ratio of natural elements in the earth, 15 to 1 historical monetary ratio. Let's all enjoy the snapback, shall we?
16-17 or theresabout.
Well the US had a 20-1 ratio, unless the weights were different in the coins. But I've read some where that the lowest trading range in history was 6-1, while the average was between 12-1 and 16-1.
Interesting. Can you imagine 6-1 today? Yikes.
Some silver bugs are calling for a 2-1 or 1-1 ratio. I could see 6-1 or 4-1 with only fractions of silver above ground in comparison to gold currently.
I think an osculation between 13-1 and 17-1 is in line on a two to five year time line. Not in a particular order(oil,silver) but 20-1 and then bam peak silver production. 17-1 then bam peak oil production. The dust will only settle after peak oil and peak silver. This will happen within two to five years for sure.
I think that will happen purely as a result of lack of supply. As certain people mention continuously, silver production is not falling like that of gold, but the problem is that we use a LOT of silver in applications where it can not be recovered. This has run down the silver inventory to almost nothing, and we use about twice as much as we mine each year.
There will be a blow off top as a result of a severe supply disruption, but it probably won't last for more than a few months, or a couple of years at most, before it falls relative to gold, and settles at some sustainable level, probably between 1:10 and 1:20. The reason for the stability at the higher level is the increased use of electronics. The high price will create a silver recycling industry that will considerably increase supply. Recovery isn't cheap, though, thus the much lower multiple.
Actually some noted geologists are now saying that there could be more gold than silver left to mine; the ratio might be reversed.
You know, in ancient Egypt, the price of silver was four times that of gold. This was prior to large discoveries in Spain and other places, and improvement of mining techniques. Much of the gold they mines at the time was available natively, rather than as ore.
Psusennes - The Silver Pharoah.
http://natgeotv.com/uk/the-silver-pharaoh-mystery
15.....for centuries, pre fiat.
A ratio of 15 means 230% from here! Maaaaaaaaaaaaarvellous!
230% from here isn't squat. Are you a speculator or investor? Investors could see 230x down the road.
Silver does not enjoy Asian Bride's price support and It can be manipulated from weak Western hands. Gold will always stay in strong hands who value it in their mind.
Don Ameche: What about my money?!
Exchange dude: But Mr. Duke, your brother...
Don Ameche: Fuck him! What about my money!?
was there a trading halt toward the close?
Probably just manipulated into it because that move prior was like lightning outta a bottle ("Get in yer trunk boy!"), and they can't look too stupid, yet.
Jimi: What the heck is that new avatar? My Little Pony?
My old eyes see mushroom clouds and rainbows.
Edit: Found it. Turd wins the guessing game. And I don't want to know how you knew.
Damn, now
I'm showing my age. I still think of it as My Pretty Pony:
http://en.wikipedia.org/wiki/My_Little_Pony
father of two little girls that used to love that crap. Now its all Justin Bieber, all the time
Gawd, the number of times I suffered another session of combing pony hair . . .
It was even worse than "playing Barbie."
You haven't suffered until you've "won" against two daughters while playing the Pretty Princess Dress Up Game.
http://www.amazon.com/Pretty-Princess-Dress-Up-Board-Game/dp/B00000IWHP
Tip of the hat good sir.
and that is why this is an anonymous site!
OMG. You know you need a man hug . . .
Combing pony hair.....
Too funny, Bob. What we went through as grown men to make our kids happy. Wonder if they will ever even know it.
Yup. Hope so.
I would rather that my soul was imprisoned for all of eternity inside of a my little pony doll on a forgotten shelf of an abandoned wal*mart than have to listen to one minute of insufferable squealing from Canada's answer to miley cyrus.
These memes tear through the youngsters like an Arizona brush-fire.
Just Heaven OR HELL.. heck take your pick!
www.youtube.com/amgineco . subscribe to it!
Psst... My Little Pony loves SLW!
Yes she does. :)
try to take delivery, see if you can
c'mon, I dare you :-)
SLW is a silver miner so I can only take profits.
+1000
Actually, they don't even mine the stuff. They just buy low and sell high. Quite a business plan!
SLW is banker manipulated instrument that has done more to suppress the P.O.S. than raise it.
Is there an instrument that is not manipulated by banksters these days?
unhedged debt-free producers.
First Majestic has silver torque.
Sunshine, lollipops and, rainbows.........
Turd, cuz everything is going to be fine! Fiiiiiine!!!!
I was going to use Charlie, but opted with the full out sarcastic one.
Charlie The Unicorn:http://www.youtube.com/watch?v=Q5im0Ssyyus
You rang?
Yes. We are having a get together at the lake. There will be lemonade and brownies, ZH is providing the popcorn. Please bring some of your wonderful Lollipops; sunshine is guaranteed.
Look for me. I'll be riding a silver-plated unicorn.
well, i asked you this question on another thread before i started reading this one. i said is that a pony or a unicorn under a rainbow. funny i never liked unicorns. never saw a need growing up. nor did i play with the pretty pony idea either. my daughter must of had 50 unicorns growing up. all she wanted was unicorns. do know i never thought of a unicorn or it's horn being phallic and all, until i read it on ZH on some thread around June 2010.
guess that tells me something. i had Madam Alexandra doll. oh my god, she was the shit doll to have. her clothes were quite expensive, but i got the queen outfit. man, did i want to be that queen. she is a collectors item now. i had collected the best outfits made for her.
oh well.
I propose that all equity charts displayed on ZH from this day forward be cornified. It's all rainbows and unicorns from here on out.
http://www.cornify.com/
hahaha, genius.
doh!
Been watching this all morning, Kitco went down. From the squeals, the squeeze is on. This is really happening. Big brother gold is good too. Thanks ZH.
+ $26 thanking ZH and fellow commentators
+ $1380 thanking fofoa.blogspot.com
Chart: Silver
http://99ercharts.blogspot.com/2010/11/silver.html
http://www.zerohedge.com/forum/99er-charts
Look at the 4 HR EURUSD chart.....
"And you ain't seen nothing yet. The LBMA (but mostly JPM and HSBC) are bracing for a tsunami of margin calls after the close."
Yep, they sure are. I'd be surprised if we don't see 26.50 overnight.
Look for a dip after all that short-covering is finished. You can bet your ass that Blythe will be on the other side of the margin-forced, short-covering buys that are coming.
If I had to guess, we'll see 26.50 in silver and 1390-95 in gold overnight before the EE commences their raid. With no POMO tomorrow, the metals will probably trade back down to 25.50 and 1370 during the day tomorrow before closing around 26 and 1375.
The weekly charts would look great and we'd be set for a big week next week.
Thanks, Mr. Best Forcaster
Always watching for your contributions.
ditto TD....
always thoughtful analysis and a gentleman...
thanks to all who junked me yerterday relative to my comments on 1 of the only 2 forms of real money...u should feel vindicated i guess....
I've always wondered if Turd is a mole inside JPM. He always calls it right and for us too.
A mole
Digging in a hole
Digging up my soul now
Going down, excavation
I and I in the sky
You make me feel like I can fly
So high
Elevation
Goodness, this may happen before the sun sets.
26.6 .ur scary
apply liberally to your...ahem...portfolio
http://www.lifesilver.com/
Good for what ails ya!