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Silver Crosses $34
The first very shy tick above $34 in the last 31 years is in the history books. Will soon be followed by many more. And only $16 more to go to all time nominal highs... and ~$160 to real ones. What is truly hilarious vis-a-vis claims that the dollar is a reserve currency is that in the period in which gold has risen by 2.9%, and silver, 12.3%, the DXY has dropped by 1.45%. It would be quite amusing if Schumer's push to unpeg the CNY came true, only for the US to realize that its currency is now completely irrelevant.
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My response to that was to call my broker (not Schwab) and switch my account to cash so my shares can't be loaned. Squeeze coming on that one-o-something like 7M sh short and rumor is highly concentrated.
Marc Faber is on the Alex Jones Show later today. And, by the providence of the Baby Jesus, so is Lindsay Williams. Should be entertaining.
Guys:
Is anyone listening to this Lindsay Williams guy, on the Alex Jones show????
Oil to $200 as soon as TOMORROW???
Guys:
Is anyone listening to this Lindsay Williams guy, on the Alex Jones show????
Oil to $200 as soon as TOMORROW???
They're good, but they're not that good.
Williams's is on for a full hour tomorrow.
Libyian cilvilians being engaged with Apache gunships.
my coin guy is my new best friend !
STFC (sell the fucking cat) and buy silver!
Dollar a day for silver. Gold will crack old highs this week as more pile on.
Watch for acceleration as money rotates ahead of sea change in trade and political accords. The violence and political change is just a prelude and it can only be inflationary for US where oil prices have been artificially held low through agreements. That in turn is bearish for equities and bonds. Some US companies stand to lose big.
How come the G-20 meeting didn't have a bigger effect on the market? It was basically someone please give us something to trade in besides dollars. SDR and gold talk abound.
SDR? Are you kidding? Thats another worthless piece of paper (oops, not even that) backed by nothing!
Agree, but those globalist at the G-20 wouldn't shut up about it.
Hahaa! What do you expect from the ponzi masters?
Hahaa! What do you expect from the ponzi masters?
Agreed. War is at all times and in all places an inflationary event. Unrest could easily lead to bigger conflicts and war. Ben has also charged the inflation capacitor to maximum with QE1, 2, 3? etc. Another black swan or two and PMs, oil, soft commodities are going nuclear. http://therookiecynic.wordpress.com/
The CNY replace the dollar? Most people prefer the devil they know to the devil they dont, especially if the unknown devil is even more opaque and capricious.
They do know that the new devil has the worlds most extensive manufacturing base, and enough foreign reserves to buy any two of the non-core EU states outright.
CNY makes about as much sense as the dollar did in 71. As much sense as any fiat currency can make. Might last thirty years, or three. They'd do better with real money.
If ZH had a TV channel it would be the only channel I watched.
You should look into it.
yeah...good luck with that.
Like a web based type T.V channel.
Yep. TD could get on there and while he is talking he could wear his insurgent's mask to hide one of his true identities.......
Somehow I imagine this channel would be nothing but an animated Guy Fawke's mask with different people doing voiceovers.
I'd still watch it more than any other news channel.
K, but where's the VOLUME? Who's Buying? Who believes this frenzzy will have anything but a bad ending?!?!
Had a call from one of my European trading buddies and he said that G20 suckers are "open" to some rate hike/increase...!?
They won't let "their" game slip away folks, congrats to all who are in Physical,(so am I), keep buying more when this sucker pulls back but gees, be really careful, this is just entering the "lost my mind" zone!!
Tomorrow will be very interesting, being a short week and all!
be really careful, this is just entering the "lost my mind" zone!!
On the contrary, I believe it is finally reflecting reality.
Please explain one thing to me: How is the VIX soooo low at around 16 with all the shit happening around the world?
Everyone one learned their lesson, don't fight the fed (when it comes to stocks at least).
Stocks will never go down. In fact nuclear global holocaust is good for 400-500 Dow points.
No, that's already priced in.
:-0
Run to hard currency safe haven!! benron burnokio franken finance dollars burning to ashes! hehehehehehehe! As history repeats, rhymes, becomes self evident of paper monies intrinsic value, or all the above=paper money zero!
SILVER!!!! WEEEEEEEEEEEEEEEEEE!!!!
www.nacocapital.com
I betya Frankenbenny is crapping in his shorts on an hourly basis now, because things around the world is beyond his control. I have decided to embrace the horror as everything goes down the tube. We all deserve it.
Advice from H.P. Lovecraft: "NEVER call up anything that you cannot put down!"
Kneel down ye sinners, streetwise religion
Greed's been crowned the new king
Hollywood dream teens, yesterday's trash queens
Save the blessings for the final ring, Amen
Do you ride?
Wild side
Do you ride?
Wild side
Carry my crucifix under my death list
Forward my mail to me in hell
Liars and the martyrs lost faith in the Father
Long lost is the wishing well
Do you ride?
Wild side
Do you ride?
Wild side
Fallen angels so fast to kill
Kingdom come on the wild side
Our Father, He's in Heaven
Be Thy name on the wild side
Holy Mary, Mother may I
Pray for us on the wild side
Wild side, wild side
Name dropping no names, glamorize cocaine
Puppets with strings of gold
East L.A. at midnight, papa won't be home tonight
Found dead with his best friend's wife, fuck it
Do you ride?
Wild side
Do you ride?
Wild side
Do you ride?
Wild side
Do you ride?
Wild side, yeah
Can't fight, fatal strikes
We lie on the wild side
No escape, murder rape
Doing time on the wild side
A baby cries, a cop dies
A day's pay on the wild side
Wild side, wild side
Tragic life on the wild side
Wild side, wild side
Kickin' ass on the wild side
2 questions:
1) When will we actually see JPMorgan/HSBC book this loss. When will i see in black and white their loss from precious metals shorts in their results?
2) Where the hell are my silver keisers, they were purchased for the equivalent of $33 an ounce. Have those silver keiser scum bags actually bought the silver yet? or are they now going to have to pay over $33 an ounce to aquire the silver to be able to put the coins into productions?
Anyone?
OMG, the irony. If they didn't have the silver, would that be naked short sellling?
Wow...
Look at oil up $10 from Weds.
6% just today...although in an hour it could be 8% going at this clip
wow
Blythe, JPM, HSBC, Fed, ... Eat Your Shorts!
Dollars seen wafting in the swirling dust, down the streets and alleys of America
No slack jawed and dazed soul bothered to stop and collect them
People in mass wandered down the roads, wondering what had happened to change their lives
Overnight all was different, all was strange
I recently saw an M1 Abrams with a ZH logo on it.
pics please
WTF?
Bought in at 35.15 at bullion direct today. Will see where it goes.
Looks like it's going parabolic to me. If I had a ST position in silver mining shares I'd be looking to significantly lighten up at the least, say 50%/50%.
From a contrarian point of view, at times like this when there's a whole lotta silver hoopla going in it usually isn't a bad time to take some profits.
Gold on the other hand, looks like a different story.
Just my opinion.
Duplicate, ignore, IE f**king up as per.
News like this is of 99% of this site's value.
Thank you.
Now I am really scared as to why this is happening...
http://www.luminous-views.com
Art, is that you backside on the double over head right break?
Yea Dan, that's me.
Not quite double overhead.
It's Sunset Cliffs in OB.
I can't believe that Blythe and the JP Morgue will go peaceably
Natural Gas ready for an 8 week monster rally. Buy stops only 30 points above here where 60,100,200 dma converge.
I agree.
Probably the best trade right now is to sell silver, gold, and oil into this spike and rotate into natural gas.
Not to say that the latter can go up further, it is just that percentage wise, natural gas could go up even faster.
Best stocks to play could be SWN, ECA, HK.
Tyler, please insert appropraite past Robo post showig he said to sell gold just before it went up
caution to anyone who takes the advice of zh's resident genius, the old robo uber bull bear wanna be catfish mouth, who proves yet again that he has more mouth than brains, just like a catfish.
remind me again old catfish mouth what you prognosticated from your apartment retirement basement in los angeles to do with silver at $26.50? and gold at the $1300 level? and wti at $85? correct. you said to sell all 3. you said it was over, done, caput. deal with it.
i'll also remind the board of your prognostication a month ago that egypt would be off the front pages in a fortnight.
you make wrong way corrigan look like a 21st century state of the art gps system.
btw: gentleman jim sinclair and eric king send their regards.
Trade Silver for stinky Gas?...is that really gonna work for you?
let's play a game: which infamous zh'er said the following?
1) "No doubt, JPM pocketed billions on its silver shorts, as it always does."
2) jpm doesn't have a short position in silver. it's a myth.
if you said the old catfish mouth robo uber bull bear wanna be said both you are correct.
What is catfishmouth for a 1000 alex.
Sir, nice crucifixion there, sir!
Gentlemen, grab your shovels --- this RoboCorpse is really beginning to stink!
RobotTrader,
Question:
If JPM wasn't short silver than who is? Somebody is getting squeezed hard and bankrupted for shorting. Who is going be the one holding his dick in his hand if it truly was illegal naked shorting that was manipulating the market and why? You can't just declare force majore in silver and say finish this game with my paper printing press and start another game with my same rigged rules where I set the price of silver without any. The trust will be gone. The silver won't come back.
I think you oughta rotate that spike someplace else, babe; you don't seem to have a real good grasp on what's goin down here.
LNG
Poor Robo. Bad enough they refused your deposits at the blood and sperm donor clinics, now I hear even the brain donor clinic has turned you down. Apparently your previous donation vaporized when dropped in to the liquid nitrogen.
They're all seeking restitution. Time to sell those 2to10s!
Yeah, rotate ALL your money out of the best performing asset classes into the one commodity that can't be exported. That's the ticket!
It's a pity you can't afford an office in a nice, tall building. I'd love to see you splattered all over the sidewalk.
Sadly, you keep trying the jump out of the window of your mother's basement, and you just get bruised up a bit when you hit the chalk drawing of a window on the cinderblock walls.
I guess a 6th bankruptcy in 5 years is a bit tough on anyone, but tolerance of stupidity has its limits.
RIP:
RobotAsswipe
Leo Quislingasskiss
MasterBater/JohnnyBravo
BiggusDickus
RedNeckRepugnicant
And soon:
Jamie Dimon
Blyth Masters
Chairfuhrer Bernanke
Timmy Geithner
US Dollar
take your Chase card and buy Silver up to the limit and then file for bankruptcy
harvey says ' no silver anywhere '.
http://harveyorgan.blogspot.com/
Silver, It's the fastest game in the west. When is the raid coming?
When Cramer and Kudlow say silver is the one.
Whne Jamie Dimon says silver is the one
When Obama says load up
When geithner is in
Where's billy the bastard? I'll believe the rise if he shows up.
Damn I onlybacked up two buses last month. Should have backed up three.
In 2003 when gold was near $400 it was in lock step with the retail price of a ounce of top grade of marijuana
Today at near $1400 it is in near the retail price of a ounce of good cocaine
So where is the new marijuana correlation? it thinks its silver The retail price of high grade marijuana is still $400 a oz
or$ 14.06 a gram so if gold is cocaine and silver is marijuana. The fair price of a ounce of silver based on the constant
value of marijuana should be $400
What do you think?
$400 is way to high.100 a quatch is robbery.
.
Could you spare a toke for a bro? you must have some good smoke.
a year ago a put a portion of my savings into silver @ $17/ounce - and here we are 100% gain later
if anyone questions PM's just ask them 'what's in your wallet' ?
hahaha... we are enjoying the same fun ride my friend
Serveral years back, I took all my IRA out, and put it in physical silver, averaging about 6 bucks/oz.
Not only am I quite happy with that move, I know where it IS at night !
Oh, cool. you did just right.
Anyone notice there were no trades on Gold 12:20:09 and 12:30:19 ?
http://www.usagold.com/gold-price-live.html
sorry CME closed early my bad !
Update: CME Holiday Schedule
Friday, Feb 18
1515 CT – Regular CME Globex close for trade date Friday, Feb 18
Sunday, Feb 20
1700 CT – Regular CME Globex open for trade date Tuesday, Feb 22
Note:
: Day/Session orders entered on Sunday are for trade date Tuesday, Feb 22,
and will continue working until Tuesday’s close at 1515 CT
And look at that Italian market WTF ? Down -3.59%Monday, Feb 21
1030 CT – Trading halt
?????Order entry, modification and cancellation allowed
1700 CT – Halted products resume trading
Tuesday, Feb 22
1515 CT – Regular CME Globex close for trade date Tuesday, Feb 122
http://www.cmegroup.com/tools-information/holiday-calendar/
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
Well guys. Those were awesome posts by Tyler, but I just do not get it. Gold was down oh, 7% or so. A normal correction for both gold and silver. I mean, if it was down 20% or more, then maybe I would have been worried. I just bought more at 1,330, and 28. Obviously, there are many who ride the momo train and get off as soon as the train stops. What fools they are.
In fact, will be sending another contribution to this site as it has helped me keep my "hand on the tiller" and not waver.
ty Tyler and staff.
And check out the dollar, or this shit going down and it is up .15 cents. Like .3%. What a piece of crap.
$1.9370157801 is the total melt value for the 1942-1945 silver nickel on February 21, 2011.
This sucks...
My erection that started last week won't go away. Maybe they will raid the crimex tomorrow, until then I will try looking at pictures of Blythe.
I appreciate comex's right to force cash payment for contracts. The relevent question here is if they don't have physical pm's, do they have the cash to pay out???? Oh, forgot, they have the taxpayer backin them up.
poor fed ex girl
can hardly lift the boxes ..
Ben Satanke is succeeding in destroying the dollar-- he's got most everyone convinced not to have faith in it now. Next up, the world currency where you need to have a bar code tattoo'd on your wrist or iphone to buy goods and services. Oh and by the way, food is going to now be 50-60% of your income not because of supply/demand factors, but because the relentless TBTF's will make you think there is scarcity.
I've been investing in silver for 10 years and its been a tough slog. A lot of people gave up on silver 10 years ago or got weak stomachs during the Lehman collapse. I've met silver recyclers 12-15 years ago who had their entire life savings invested in silver just to throw in the towel at $4 before the new bull market started. A lot of silver die hards quit or were killed off or died off before the silver revolution. This is silver's time now and I'm going to enjoy it for all silver bugs I've met along the way who are gone now. They would have wanted it that way. I feel vindicated about the whole silver story. The little guy is finaly getting his due. Long live Silver!
Wish my grandfather was alive to see this day.
Amen, Doc!
Been here a long time, first post ever. Yours hits home Dr. My pop had me rolling silver quarters and dimes in 1966 or so, right after they were discontinued. When Hunt Bros fell down, I asked if he was sad he didn't sell. He calmly said that someday $50/oz would probably be a bargain. Pops passed in '93. I got all the silver he made me roll. Not as much as some of the big hitters here, but a nice sum nonetheless. The vindication of which you speak might finally be coming home to roost. Wish he were still here to see it.
Cheers to all.
You hear that?
That's the sound of inevitability.
with all the trading prowes of a spit,
robo the clown blasts sinclair
sinclair said hold your gold at 500,, will almost now a tripple and robo the nickle flipper has yet to see much of a gain ,, much less than 300% is my quess
the traders in the golds and silver trade paper ,, circling a musical chair game , with 100 trying to find a seat for ten,
when the music stops . robo will have a a hand full of paper and no chair ,
the gold silver people a pocket full of real
This is what always happens eventually when someone takes a massive long term position (short or long) in a futures market that was designed for short term swaps and hedging. Fundamentally, it's not all that different than trying to finance a house for 30 years with a one year adjustable rate mortgage. I thought the financial geniuses at JPM were better than that. As for those holding the SIVR ETF, well, who knows what that fund is actually holding now.
AGQ
Can we expect more serious price suppression tomorrow? I live in Europe, it wouldn't be the first time that the price was suppressed (and went through my stoplosses) after closing hours.
every silver investor is a winner now so resistance, even 30 year resistance, is gone.
there's a lot of support from those millions who would love to buy if it pulls back, so they probably won't let it. people are going to have to chase i think.
if the reports of silver producers selling/hedging forward are correct, my guess is they bailed out jp morgan who might have bought all the future commitments. probably made the producers an offer they couldn't refuse sorta thing. i'm not sure what the motive for them to suppress price if they've created a near term fix.
they'll probably rob slv for near term delivery commitments and replace it with iou's for 2-4 years but it's still bullish because the problem will be that much worse later on as even future production is now spoken for.
I smell a set-up...
http://tradewithdave.com/?p=5447
Dave Harrison
tradewithdave.com
without going into all the reasons for physical gold and silver, i think it's important to remember the only reason why paper silver is going to do so well is because of the need for physical.
it would be wise to make it real and keep stackin'
Turn paper profits to silver:)
my retirement account is 100% agq and as i make these profits it allows me to convert to physical periodically at surplus even after getting dinged for the penalty and taxes. it's been working amazingly so far.
I went to a local coin dealer who was selling gobs of Mexican Libertads at spot. I bought a couple for fun. I bought my last 100 Maple Leafs when silver was $24.
When to sell is the question.....
for me the when to sell is kinda easy. personally i'll begin when the gold/silver ratio is 20 with most of it going if it falls below 10 and some left in case it reaches parity
but in all cases i would only be converting to gold
buy 10 oz of silver today and convert to 1 oz gold later ... at todays prices it's like buying gold for $340/oz
When to sell is the question.....
you got to be kidding ..
sell... why not just hold and sell when you need some gas, some food , at higher and higher prices ,, like 100... the true cost of silver is the question as it has been surpressed for so long . silver is a byproduct of other mining activities
so some finally bought and already thinking sell lol
buy 10 oz of silver today and convert to 1 oz gold later ... at todays prices it's like buying gold for $340/oz
faulty math
10 oz silver today 350,,, sell silver at 150.00.. buy an oz of gold for 3500, leaves you 2000 shy for a oz of gold,
get um both , use gold for the wealth preservation,, silver for day to day expenses ,
in terms of the ratio the math is correct. gold silver ratio of 10 leaves future price as an unknown variable.
so if gold were 3500 and silver 350 i would trade 10 oz silver for 1 oz of gold
if silver were 150, gold would need to remain nearly unchanged at 1500 for me to make the switch
the first case seems the more probable scenario to me, but either way the ratio would need to be 10 to one and is like paying $350 for an oz og gold today.
it just doesn't seem to make much math sense because it's an unbelievable deal
it requires the belief that the ratio could fall to 10:1 but if one studied the fundamentals it easy to see it 's as close to a sure thing as there is. i just don't know what the prices will be when it happens.
another way to look at it is at 10:1 someday, silver is selling an an extreme discount today
my main point was referring to the 'when to sell'. for me the ratio will be the trigger. some might wanna wait for $50 and even though there'll be a lot of selling at 50, it doesn't make any sense to me that silver would only go to it's all-time high and that's it.
when it clears 50 someday it'll be such a sprint to $100 that i think it will make people's heads spin. profit is always a strong motivator to sell and it stops a lot of people from holding a multi-bagger too long.
but for me the ratio is my focus and makes the when to sell easier. some might feel better to begin selling around 30:1 ... there are some who apparently waited for 45:1, but i won't begin the conversion to gold till it hits 20:1 and below.
in other words again, i don't know when that day will occur but when it occurs i'll know it. so the when to sell is kinda easy for me.
someone hit the stop button, it's been trading in a straight line for hours now.
Blyth humming a tune at the computer she is hancuffed to in the HQ of the JP Morgue ............. Please release me , let me go ......... the pain of watching a lifetimes work (manipulation) crumble as Silver shoots for the stars ... tough shit baby,Silvers given you the finger.
How about that $600 gold call Bob?
I have closed most of my xag trade, other than a core trade below 30. I'm trying to put in a small short trade just above 34 ( with tight stops) and keep getting requotes. Wonder if there is an option(barrier protection) around that level. A 5 dollar move in a couple of days exposes levels that wouldn't ordinarily be touched in an ordinary trade cycle. Guess I'll try one of my other brokers.
Forgot to mention that I have 33.98 on all three of the spot platforms I trade from.
crossed. up up and away.
Hey, let me just share that lovely midnight burst
http://www.futurespros.com/metals/silver-advanced-chart
It's all in ;)
Will the Wicked Witch of the East send her winged beasts after the Silver Bird tomorrow?
We will soon know.
Of course she will Pap. No choice, really.
Question is: will it do any good?
Ans. IMHO, I doubt it.