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Silver At Escape Velocity, As Another ECB Intervention Desperately Needed

Tyler Durden's picture


We apologize for this most recent silver update, but it is rather exhilarating to watch the main Tri-Party repo clearer, and Fed's pet bank squirm. Silver is now above $32.70 as the unleashed squeeze is claiming victims left and right, and the metal is up 7% from yesterday's low. Jamie: it may be time to shelve those dividend plans for a year or two but at least you got your bonus you sly dog, you. As a reminder, margin calls in silver, and they will be, ahem, sizable, commence at 3pm Eastern.

And in other news, the half life of ECB bond monetization interventions is now a few hours. ECB - meet SNB.


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Fri, 02/18/2011 - 12:41 | 974488 schoolsout
schoolsout's picture

giddy up!

Fri, 02/18/2011 - 13:03 | 974656 A Nanny Moose
A Nanny Moose's picture

wait for it....

Fri, 02/18/2011 - 13:05 | 974672 flacon
flacon's picture

Come on little pony!

Fri, 02/18/2011 - 13:30 | 974790 MarketTruth
MarketTruth's picture

<insert "Its On Like Donkey Kong" photo here>

Fri, 02/18/2011 - 14:46 | 975106 jus_lite_reading
jus_lite_reading's picture

I've got a silver coin, if you've got a plot of land, a horse, a plow and a fist full of dollahs!

Fri, 02/18/2011 - 13:33 | 974808 CPL
CPL's picture

For what?  For silver to actually be valued properly for once? 

If it were in the 70 bucks range I would be screaming "back that truck up".  Right now it's still under valued by around 35%.  It would be the equivalent of people buying money at a 35% discount.

Fri, 02/18/2011 - 14:09 | 974960 johnQpublic
johnQpublic's picture


Refer to Franklin Roosevelt's August 9, 1934 Executive Order 6814:

"By virtue of the authority vested in me by the Silver Purchase Act of 1934 and of all other authority vested in me, I, Franklin D. Roosevelt, President of the United States of America, do hereby require the delivery of all silver situated in the continental United States on the effective date hereof, by any and all persons owning, possessing, or controlling any such silver, and do hereby require any and all persons owning, possessing, or controlling any such silver to deliver the same in the manner, upon the conditions and subject to the exceptions herein contained, such action being in my judgment necessary to effectuate the policy of the Silver Purchase Act of 1934. . . . Section 2. Silver required to be delivered..–There shall be delivered in accordance with the terms of this order all silver situated in the continental United States on the effective date hereof, except silver falling within any of the following categories so long as it continues to fall thereunder:

(a) Silver coins, whether foreign or domestic;

(b) Silver of a fineness of .8 or less, which has not entered into industrial, commercial, professional, artistic, or monetary use;

(c) Silver mined, after December 21, 1933, from natural deposits in the United States or any place subject to the jurisdiction thereof: Provided, however, That so much of such silver so mined in the continental United States on or before the effective date of this order which shall not have been deposited with a United States mint tinder the proclamation of December 21, 1933, shall, if processed to a fineness greater than .8 within 75 days from the effective date of this order, be delivered in accordance with this order, not later than 90 days from the effective date hereof, or if processed to a fineness greater than .8 after 75 days from the effective date of this order, be delivered within 15 days thereafter in accordance with this order;

(d) Silver held for industrial, professional, or artistic use and unmelted scrap silver and silver sweepings in an amount not exceeding in the aggregate 500 fine troy ounces belonging to any one person;

(e) Silver owned on the effective date hereof by a recognized foreign government, foreign central bank, or the Bank for International Settlements;

(f) Silver contained in articles fabricated and held in good faith for a specific and customary use and not for their value as silver bullion; or

(g) Silver held under a license issued in accordance with Section 6 hereof.

Section 3. Time and place of delivery..–The silver required to be delivered here under shall be delivered not later than 90 days from the effective date hereof to the United States mint nearest to the place where the silver is situated immediately prior to delivery: Provided, That such silver temporarily falling within the exempt categories enumerated in Section 2, shall be delivered at the end of 90 days from the effective date hereof, or 15 days after the time when it ceases to fall within such categories, whichever date is later. Any person acquiring ownership, possession, or control of silver required to be delivered under this order after 75 days from the effective date hereof, shall deliver such silver within 15 days of such acquisition.

SECTION 4. Amount returnable for silver..–The silver herein required to be delivered shall be coined into standard silver dollars, or otherwise added to the monetary stocks of the United States in accordance with the proclamation, bearing the same date as this order, relating to the coinage of silver, and there shall be returned therefor in standard silver dollars, silver certificates, or any other coin or currency of the United States, the monetary value of the silver so delivered (that is, $1.2929+ a fine troy ounce), less a deduction of 61 8/25 percent thereof for seigniorage, brassage, coinage, and other mint charges, as provided in such proclamation; that is, the amount returnable for the silver delivered in accordance herewith shall be an amount equal to 50+ .– a fine troy ounce, which amount is not less than the fair value, at the time of this order, of the silver required to be delivered hereunder as determined by the market price over a reasonable period terminating at the time of this order.

Section 5. Reimbursement of costs..–The Secretary of the Treasury shall pay all necessary costs, actually incurred, of the transportation of such silver and standard silver dollars, silver certificates, and other coin or currency of the United States, including the cost of insurance, protection, and such other incidental costs as may be reasonably necessary. Persons desiring reimbursement of such costs shall submit their accounts on voucher forms which may be obtained by writing to the Treasurer of the United States, Washington, D.C.

Section 6. Licenses..–The Secretary of the Treasury, subject to such regulations as he may prescribe, acting directly or through such agency or agencies as he may designate, shall issue licenses authorizing the withholding of silver which the Secretary of the Treasury, or such agency as he may designate, is satisfied

(a) is required for legitimate and customary use in industry, profession, or art by a person regularly engaged in such industry, profession, or art or in the business of processing silver or furnishing silver therefor;

(b) has been imported for reexport; or

(c) is required to fulfill an obligation to deliver silver in such amount to a third person, incurred or assumed by the applicant on or before the effective date of this order; Provided, That at the date of the application, the applicant owns such silver or holds the obligation of another to deliver to him such silver.

The Secretary of the Treasury may, with the approval of the President, issue licenses authorizing the withholding of silver for purposes deemed to be in the public interest and not inconsistent with the purposes of the Silver Purchase Act of 1934 and of this order.

Section 7. Deliveries in fulfillment of obligations or to licensees.–No person required to deliver silver owned by him or in his possession or control shall be deemed to have failed to comply with the provisions of this order, if such silver is delivered in fulfillment of an obligation incurred or assumed by such person on

Fri, 02/18/2011 - 14:22 | 975006 quasimodo
quasimodo's picture

Fuck that noise

Fri, 02/18/2011 - 15:31 | 975249 Pemaquid
Pemaquid's picture

One of the JPM turds.  Anyone got a few feet of rope?

Fri, 02/18/2011 - 15:37 | 975270 johnQpublic
johnQpublic's picture

i actually posted it as a warning to why you need to get physical and hide the stuff


never trust the government not to try and reach inyour pocket....and not just in tax season


surprised to get 8 junks so far...unless they are junking the premise

i've got mine and am getting more

and i've got the other pm(lead) to back it up if anyone comes a-callin

Fri, 02/18/2011 - 15:38 | 975278 Pemaquid
Pemaquid's picture

Oh!  So sorry!

Fri, 02/18/2011 - 16:30 | 975427 born2bmild
Fri, 02/18/2011 - 18:22 | 975760 johnQpublic
johnQpublic's picture

that 2000 dolar figure is the same number my 'inside' guy mentioned, but i thought it just had to be bullshit...and there it is again..

nice link...ty

did you catch my link yesterday to the Washington state law that will track all pm sales in excess of 100 dollars?

purchaser/seller take all info that you can think of minus bra size...fingerprints,ssn,dl number,address,height, shit, google it or find link on jeff rense website

i put up a craigslist add for ameros and got three responses...try it

i did philadelphia craigslist, offering price asked for any amero coins...request scans to filter out bs spammers

Fri, 02/18/2011 - 19:31 | 976003 nmewn
nmewn's picture

G/S ratio @ 42.53 and falling...I love it when a plan comes together.

Fri, 02/18/2011 - 19:43 | 976038 Forgiven
Forgiven's picture

Government Silver Thief meet copper cladded lead hollow point.  Discussion over.

Fri, 02/18/2011 - 23:56 | 976682 Blank Reg
Blank Reg's picture

Hear, hear.

Fri, 02/18/2011 - 23:57 | 976683 Blank Reg
Blank Reg's picture

Hear, hear.

Sat, 02/19/2011 - 04:47 | 977044 dogbreath
dogbreath's picture

blah blah blah

Fri, 02/18/2011 - 15:10 | 975200 Hugh G Rection
Hugh G Rection's picture



The validation of what most of us have known is nice, and the gain on the silver I have purchased is also nice, but I was hoping JPM could keep kicking the can down the road awhile.  I need more, MORE! 


Damnit Blythe you need to go balls deep with the shorts! Monkeyhammer this shit back down to 30 so I can load the truck again.

Fri, 02/18/2011 - 15:43 | 975292 phil silver
phil silver's picture

Who put the PM in JPM?

Silver Bulls you have my permission to remove it.

You won't catch me with my trousers down. 

Sat, 02/19/2011 - 01:15 | 976856 natty light
natty light's picture

Phil Silver

great posting name

Sat, 02/19/2011 - 01:37 | 976896 phil silver
phil silver's picture

Thanks, my friend.

Keep it safe.


Fri, 02/18/2011 - 12:42 | 974491 txapela
txapela's picture

please, dear god.


don't let silver crash.


and friday expirations to set in.


so that i can make a shitload of money on my miners come this biutiful monday.

Fri, 02/18/2011 - 12:44 | 974517 Henry Chinaski
Henry Chinaski's picture


Fri, 02/18/2011 - 13:02 | 974654 Cognitive Dissonance
Cognitive Dissonance's picture


Monday is "Washington's Birthday" per the NYSE.

Fri, 02/18/2011 - 13:12 | 974710 tmosley
tmosley's picture

That's just a conspiracy theory.

No such thing as a "bank holiday".


Fri, 02/18/2011 - 13:29 | 974791 txapela
txapela's picture

well. fuck.


i forgot about president's day. i work on monday.

Fri, 02/18/2011 - 13:40 | 974851 Triggernometry
Triggernometry's picture

tmosley- I almost bought 100 pieces yesterday, then recalled some of your thoughts on price fluctuations due to contract expirations, and figured it might be best to wait a week or two. Any thoughts?

Fri, 02/18/2011 - 14:00 | 974934 unky
unky's picture

options expire on february 23rd and futures on february 28nd, hmm?

i also want to buy next week and would appreciate suggestions here, (by the way i want to buy in €, so consider the €/$)

Fri, 02/18/2011 - 15:26 | 975235 tmosley
tmosley's picture

Read Terd Fergison's blog.  It appears that other things are afoot now in the silver markets, and that the traditional telegraphing and price suppression mechanisms are breaking down.  Namely, the large number of people planning on standing for delivery has rendered it impossible for the cartel to sell any more unbacked shorts without screwing themselves further.

I will be buying next week, but I don't really care about price anymore, as I have already established a strong portfolio.  If I were buying for the first time using a large amount of savings, I would cost average my way in starting IMMEDIATELY, and then buy all dips until I was out of money.  If I were significantly expanding here, I would cost average, buying half now, and half on the next largish dip.  I don't like buying when the price is going up like this, as there is an increased likelihood for major pullbacks.  The fundamental picture here is so strong, and the rumors so pervasive that I would be willing to violate those rules at this time (and buy the fucking spike).  I just wouldn't go all in at this point.  For a regular monthly investment, I just ignore the price.  It's going higher, and you should only be increasing your stash by about 1% a month, if you are already heavily invested as I am.

For a relatively small purchase like that (100 oz), Id say that you don't really need to worry too much about this spike--you've only lost a couple hundred bucks, about 6 fewer oz.  If this is a big portion of your savings you are converting, then I would cost average, buying a high enough number to get the best price/avoid taxes/avoid shipping, and wait for a dip to buy the rest.  If this is "chump change", ie the amount you would normally put aside in a given month, I would say just go ahead and buy it now.

Hopefully that makes sense.

Fri, 02/18/2011 - 17:22 | 975586 New_Meat
New_Meat's picture


" the fucking spike..."

Nice turn of phrase.  Do you think it will catch on around here? ;-)

- Ned

Fri, 02/18/2011 - 19:05 | 975934 Triggernometry
Triggernometry's picture


Thanks, your knowledge and insight are always appreciated. Just started buying pm's last year, still expanding my stores. My portfolio is solid, all tangible goods: food, water, filtration, textiles, pm's, cold steel, and copper coated lead to put in it.

Fri, 02/18/2011 - 19:32 | 975999 DoChenRollingBearing
DoChenRollingBearing's picture

The Bearing, on vacation in Costa Rica chimes in re tmosley:

+ $31.50

If you do not yet have a ´comfortable´ position (physical only) yet, dollar averaging in is great advice.  Start NOW!

I would advise that even stronger re gold.


EDIT: Disclosure, I have enough gold and silver, at least for now.

Fri, 02/18/2011 - 15:29 | 975240 MrBoompi
MrBoompi's picture

The way I see it, even if you don't buy the dip you're still paying 65 cents for something that should be worth at least a dollar.

Fri, 02/18/2011 - 20:57 | 976252 IQ 145
IQ 145's picture

 The Silver market has a fourteen day cycle; wait exactly two weeks.

Fri, 02/18/2011 - 23:29 | 976619 StychoKiller
StychoKiller's picture

Next Tuesday is also "Birthington's Washday!" :>D

Fri, 02/18/2011 - 12:42 | 974495 lieutenantjohnchard
lieutenantjohnchard's picture

no need for apologies. silver bulls are entitled to a group hug every now and then.

Fri, 02/18/2011 - 12:45 | 974505 TheGreatPonzi
TheGreatPonzi's picture

Silver is at 32.850 now. 

Fri, 02/18/2011 - 12:55 | 974610 jus_lite_reading
jus_lite_reading's picture

Only silver bullets can take down giant Morgue Vampires...

With that said, I have a dream, that all Zerohedgers become the new rulers of the world!


Fri, 02/18/2011 - 13:04 | 974659 Mr Lennon Hendrix
Mr Lennon Hendrix's picture


Fri, 02/18/2011 - 13:13 | 974716 Cash_is_Trash
Cash_is_Trash's picture

Except Robo and Harry, they only spit shit about the inevitable rise of real money.

Fuckin'  CME is moving the goal posts again.

Fri, 02/18/2011 - 15:28 | 975238 tmosley
tmosley's picture

And a few others...

Sat, 02/19/2011 - 04:53 | 977049 dogbreath
dogbreath's picture

I would like to be Tom Bombadilo from The Lord of the Rings.  Older than the hills.

Fri, 02/18/2011 - 12:44 | 974507 H. Perowne
H. Perowne's picture

Ground control, to Jamie Dimon

My shorts are dead, there's something wrong

Fri, 02/18/2011 - 12:48 | 974548 bernorange
bernorange's picture

Can you hear me Jamie Dimon?

Can you hear me Jamie Dimon?

Fri, 02/18/2011 - 12:57 | 974625 Arthor Bearing
Arthor Bearing's picture

Blythe Masters is blue and there's nothing I can doooooo

Fri, 02/18/2011 - 13:07 | 974689 flacon
flacon's picture

There they are sitting in a tin can. Faaaaar above reality. 

Fri, 02/18/2011 - 13:19 | 974738 Yancey Ward
Yancey Ward's picture

My face is turning blue, and there's nothing I can do.

Fri, 02/18/2011 - 15:31 | 975247 Bananamerican
Bananamerican's picture

silver's ...floa-ting in a most-a pe-cul-i-ar waa-aay

Fri, 02/18/2011 - 20:54 | 976240 ApplesConspiracy
ApplesConspiracy's picture

And those bars look very different to daaaay

Sat, 02/19/2011 - 00:01 | 976692 Blank Reg
Blank Reg's picture

This major Ben to ground control, I'm stepping throu.....AGHHH!!

Fri, 02/18/2011 - 12:48 | 974552 It is a bargin ...
It is a bargin my friend's picture

Go look for Blythe

And hope The Bernank is with youuuuuu...

Fri, 02/18/2011 - 14:19 | 974999 malikai
malikai's picture

Silver surges.

Combine this with copper tumbling and the storm clouds are getting very close for JPM.

Fri, 02/18/2011 - 12:43 | 974511 jobs1234
jobs1234's picture

What is Ben saying to himself right now?


"Mission Accomplished"?

Fri, 02/18/2011 - 13:14 | 974721 born2bmild
Fri, 02/18/2011 - 13:33 | 974811 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"We're all out of ink, Timmah!  We need more ink!"  Ben said while he banged on his printer.

Timmah was in the other room busy trying to short silver.  He had been up all night drinking red bull trying to keep a lid on the metal.  He let out a yelp of desperation.  "Timmah!"

Just then the phone rang.  Timmah answered.  It was Blythe.

"Timmah you little snake you've been a bad boy."


"Mommy is done playing games now.  Tell Ben I am moving to Puetro Rico to live with my man servent Jeeves."


"I have to, my time here is done.  There is no room for me and my silver shorts anymore...unless you want to see my silver shorts.  Do you want to see my silver shorts?"

Timmah shook his head, "Timmah."

"Come on Timmah...I have a silver bikini too."

"Eh, Timmah...Timmak."  Even Timmah was disgusted.

"Just tell Ben!"  She slammed down the phone and took a long drag of her cigerette.  "Jeeves, fetch me my silver dildo.  Mommy's horny."


Back at the Treehouse Timmah informed Ben of the news.  Ben was arm deep in the printer.  "Great, just great!  First the printer was out of ink, now it jams, and Blythe quits.  Just great!"

With that, the lights on the printer started flashing, and it revved on.  "Timmah!"  Timmah said triumphantly.

"Ok, well get back on the PPT and try to keep everything in line.  I will call Dimon and inform him his number 2 has fled."  Ben walked to the phone, but not before pouring himself a coke and rum.

Fri, 02/18/2011 - 14:10 | 974963 faustian bargain
faustian bargain's picture

about two-thirds of the way through your text, and... <shudder>

Fri, 02/18/2011 - 17:47 | 975665 Dr. Sandi
Dr. Sandi's picture

You've made it live for me, JimiJohn.

I can see this playing inside my head and it's fascinating and spooky.

So when's the DVD coming out?

Fri, 02/18/2011 - 23:32 | 976627 StychoKiller
StychoKiller's picture

I'd be willing to spend one Silver Eagle for a DVD of that "Reality Show!" :>D

Fri, 02/18/2011 - 14:17 | 974974 JW n FL
JW n FL's picture
by born2bmild
on Fri, 02/18/2011 - 12:14

I think he's saying "Bring me my trolls." :



NO FUCKING WAY!!!! Our Tax Dollars Hard at work, Trolling! No fucking wonder the Country is Broke!!!

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Software will allow 10 personas per user, replete with background , history, supporting details, and cyber presences that are technically, culturally and geographacilly consistent. Individual applications will enable an operator to exercise a number of different online persons from the same workstation and without fear of being discovered by sophisticated adversaries. Personas must be able to appear to originate in nearly any part of the world and can interact through conventional online services and social media platforms. The service includes a user friendly application environment to maximize the user's situational awareness by displaying real-time local information.

0002- Secure Virtual Private Network (VPN). 1 each
VPN provides the ability for users to daily and automatically obtain randomly selected
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excellent cover and powerful deniability. Anonymizer Enterprise Chameleon or equal

0003- Static IP Address Management. 50 each
Licence protects the identity of government agencies and enterprise
organizations. Enables organizations to manage their persistent online personas
by assigning static IP addresses to each persona.
Individuals can perform
static impersonations, which allow them to look like the same person over time.
Also allows organizations that frequent same site/service often to easily switch IP
addresses to look like ordinary users as opposed to one organization. Anonymizer IP Mapper License or equal

0004- Virtual Private Servers, CONUS. 1 each
Provides CONUS or OCONUS points of presence locations that are setup for
each customer based on the geographic area of operations the customer is
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Ability to provide virtual private servers that are procured using
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Unless specifically designated as shared, locations are dedicated for use by
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Fri, 02/18/2011 - 14:17 | 974989 JW n FL
JW n FL's picture

Get Paid to be a TROLL!!!!




Pension Benefits for this job are Fantastic as well!!!

Fri, 02/18/2011 - 15:45 | 975300 Hephasteus
Hephasteus's picture


Fri, 02/18/2011 - 16:41 | 975459 fockewulf190
fockewulf190's picture

Betcha Stuxnet International Ltd lands the contract...leading to a buyout from an unknown shell company based in the Caymans, and then everyone promptly disappears  within a few weeks from the radar.

Sat, 02/19/2011 - 08:06 | 977138 TerraHertz
TerraHertz's picture

Well lookee thar...

under the tab: Interested Vendors List, there is

Phone: 916-459-4727 ext 118

of recent fame for being totally hacked by Anonymous, and having many, many things stolen from their servers.

I have a dream... that someday a database of the names, nics and home addresses of all the paid shills will turn up on rapidshare or somewhere.

Next best dream would be JPMorgue's email archive, something like the CRU event.

If the trolls have any sense, they'll demand to be paid in silver pieces.

Sun, 02/20/2011 - 16:22 | 979946 Hook Line and S...
Hook Line and Sphincter's picture

This is great news. Note: there is an assumption that the web will by up and running so that the trolls may do their trolling.

Fri, 02/18/2011 - 17:32 | 975626 Amish Hacker
Amish Hacker's picture

To jobs1234: what Ben is saying to himself right now is, "Release the Kraken!"

Oh, wait, he tried that already...

Fri, 02/18/2011 - 12:46 | 974512 Cognitive Dissonance
Cognitive Dissonance's picture

The Silver Bullet is out of control. May Blythe rest in pieces.


Fri, 02/18/2011 - 12:57 | 974617 CD
CD's picture

The sound of inevitability, Ms. Masters...

Fri, 02/18/2011 - 13:06 | 974668 thetruth
thetruth's picture


Fri, 02/18/2011 - 13:06 | 974680 Arthor Bearing
Arthor Bearing's picture

Resistance is NOT futile, we're gonna win this thing, humankind is too good, We're not a bunch of underachievers, we're gonna stand up, and we're gonna be human beings. We're gonna get fired up about the real things, the things that matter, creativity, and the dynamic human spirit that refuses to submit. (Alex Jones in the movie Waking Life)


Fri, 02/18/2011 - 14:15 | 974983 faustian bargain
faustian bargain's picture

Over? Did you say "over"? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!

Fri, 02/18/2011 - 14:23 | 975009 Cognitive Dissonance
Cognitive Dissonance's picture

Popular (as well as obscure) cultural references and ZeroHedge were made for each other.

Fri, 02/18/2011 - 19:35 | 976016 DoChenRollingBearing
DoChenRollingBearing's picture

+ 2.71828

Fri, 02/18/2011 - 21:03 | 976262 Hulk
Hulk's picture

e gads!

Sat, 02/19/2011 - 00:22 | 976738 Attitude_Check
Attitude_Check's picture

Pretty common log you have there...

Sat, 02/19/2011 - 12:47 | 977420 darkaeye
darkaeye's picture

That's irrational

Fri, 02/18/2011 - 13:31 | 974792 bania
bania's picture

I have this vision of Jamie and Blythe in a bunker, each taking a cyanide capsule from a silver pillbox... paging WB7?

Fri, 02/18/2011 - 14:47 | 975108 FeralSerf
FeralSerf's picture

Due to circumstances beyond their control, metallic silver boxes are no longer available.  Paper silver boxes may still be available though.

Fri, 02/18/2011 - 19:05 | 975933 Amish Hacker
Amish Hacker's picture

We also have a very nice line of tungsten boxes.

Fri, 02/18/2011 - 21:07 | 976272 IQ 145
IQ 145's picture

 Hey that's neat.

Fri, 02/18/2011 - 21:07 | 976276 IQ 145
IQ 145's picture

 Hey that's neat.

Fri, 02/18/2011 - 21:12 | 976285 IQ 145
IQ 145's picture

 Hey, that's neat. Nice visual.

Fri, 02/18/2011 - 21:13 | 976288 IQ 145
IQ 145's picture

 sorry, I don't know what my browser is up to now.

Fri, 02/18/2011 - 12:44 | 974513 byukid
byukid's picture

I might cry from how beautiful this is.

Fri, 02/18/2011 - 12:46 | 974524 LongSoupLine
LongSoupLine's picture

Blythe - "Did anyone get the plate on the margin call truck that just ran me over?!"

Fri, 02/18/2011 - 12:49 | 974564 NotApplicable
NotApplicable's picture


Fri, 02/18/2011 - 12:52 | 974579 UGrev
UGrev's picture

^Thread winner :-)

Fri, 02/18/2011 - 15:53 | 975320 SRV - ES339
SRV - ES339's picture

King Max I of America!

Fri, 02/18/2011 - 12:46 | 974527 cbaba
cbaba's picture

Buy Silver, Buy Gold, CRash JP Morgan..

Fri, 02/18/2011 - 12:50 | 974569 philgramm
philgramm's picture

Unlikely that JPM will crash.  Remember they have money printing power as part of the private FED.  But we can definitely expose the emperor for not wearing clothes by buying silver and gold.  Peace be to all my gold/silver bugs.  Tis a beautiful sight to behold:-)

Fri, 02/18/2011 - 16:07 | 975365 Andy_Jackson_Jihad
Andy_Jackson_Jihad's picture

So true.  I never understood how you could crash a bank that can go get freshly printed money to pay a premium to not deliver.

If the public finally awakens and demands money backed by PMs the JP Morgues of the world will have already made off with all the real assets purchased with printed money while suckers still traded with it. 

They will still be around when the dust settles unless some rouge CIA agent has been compiling the names of every wallstreet manager, puppet master and Rothschild schill across the globe to be eliminated.  I'm not very confident of that.


Sat, 02/19/2011 - 12:51 | 977427 darkaeye
darkaeye's picture

A very warm and soothing thought though.  Thanks for the image. 

Fri, 02/18/2011 - 12:46 | 974528 uranian
uranian's picture

i thought we'd maybe see a 32 something close today, looking for 33 something now!

Fri, 02/18/2011 - 13:19 | 974745 BanksterSlayer
BanksterSlayer's picture

Wouldn't it be great to close the weekend at Masonic $33 just before a holiday to a Masonic leader?

Fri, 02/18/2011 - 13:27 | 974777 I Am The Unknow...
I Am The Unknown Comic's picture

side bet for bragging rights that we close at $33.00 at 1:30 pm EST?  How about $33.33?

Fri, 02/18/2011 - 12:46 | 974531 razorthin
razorthin's picture

$33 looks to be the short-term target.

Fri, 02/18/2011 - 12:48 | 974549 alien-IQ
alien-IQ's picture

short term as in "by lunch time" yes.

Fri, 02/18/2011 - 12:58 | 974633 JLee2027
JLee2027's picture


Fri, 02/18/2011 - 12:50 | 974566 unky
unky's picture

i think u missed a zero

Fri, 02/18/2011 - 12:47 | 974533 takeaction
takeaction's picture

This is amazing.   $32.83....what a run today. 

Fri, 02/18/2011 - 12:47 | 974550 Gene Parmesan
Gene Parmesan's picture

What's amazing is that the word "silver" doesn't show up once on the front page.

Fri, 02/18/2011 - 12:53 | 974589 unky
unky's picture

it better be not  until i buy some more on monday, fortunately the € strengthend a little bit against the dollar, hope that it will last until monday

Fri, 02/18/2011 - 13:01 | 974646 Dr. Porkchop
Dr. Porkchop's picture

It will hit $100 oz and they'll still be calling it a barbarous relic or a in a bubble. Some people refuse to take off the blinders. I read a blog by a Canadian who is right on with his real estate calls, but he calls silver 'fools bullion' and at the start of the year was telling people to sell gold, they were lucky to have a good run, but now should get into corporate bonds!

Fri, 02/18/2011 - 13:36 | 974826 trav7777
trav7777's picture

Metals had a 20 year period of doing jackshit and the entire structure of prudent market behavior was shitcanned in favor of share price ponzis.  Nobody became a .gold millionaire.

I, too, have noticed a lot of MSM derision of metals.  It is because if the metalheads are correct, the entire institution of what MSM market commentators do is at an end.  The MSM people most probably have missed this boat but more fundamental is the fear of what the implications of a PM price boom are.  We're already seeing the consequences to the exchanges in terms of volume, to the institutional funds due to outflows, etc.  The entire wall street complex of sucking in mainstreet money and encouraging main street daytrading is finished.

WTF are these people going to do for a living if nobody is trading and the market returned to a climate of fundamentals and - gasp - dividends?  You see the same types of derogation against solid dividend payer stocks.  The commentators act as if these are for dumbass grammas, whereas the real traders are all in NFLX.

Face facts, the .com boom BUILT the entire careers of these people and CNBC and Bloomberg and the whole financial news complex. 

Fri, 02/18/2011 - 15:53 | 975318 Thorny Xi
Thorny Xi's picture

+10  We're the "Cash Out Generation"

Fri, 02/18/2011 - 15:48 | 975305 divinetechnique
divinetechnique's picture

this canadian, while right on RE, must be a fool.  a greater fool.  the funniest shit was when he told gold bugs to quit reading doomer blogs and then someone replied saying his blog WAS a doomer blog. 

Fri, 02/18/2011 - 16:09 | 975369 SRV - ES339
SRV - ES339's picture

Poor Garth... he was a (Conservative) Member of Parliament several years ago, and is firmly entrenched in the anti gold mindset.

He does "pull back the curtain" from time to time with some great (inside) insight on the conservative government's sell out to the international corporate cabal... he fought like hell to stop the bullshit (very stealthy) changes designed to pump up the R/E bubble to unimaginable levels (much worse than the US bubble) and was dumped for his trouble.

Believe it or not, they managed to keep pumping (and lying) until just recently, and Canada is about to take a very, very big hit... it will not end well.

For the curious... he's a fun read.

Fri, 02/18/2011 - 19:26 | 975981 pirea
pirea's picture

70% of new condos built in Coal Harbour are bought by overseas investors at over $1,000,000 average value and are empty, as a real estate reserve. Vancouver is not your average american town, the price of RE is not driven by $38,000 average local income. Move along with your predictions.

Fri, 02/18/2011 - 21:31 | 976325 Bay of Pigs
Bay of Pigs's picture

I guess we should take it from you that there is no bubble when it comes to Vancouver RE?

Okay, put your head back into the sand. 

Fri, 02/18/2011 - 15:01 | 975150 L_Gobbo
L_Gobbo's picture

Not on the front page (yet) but they do have a very entertaining article here:

The money quote:

It's [the silver price] benefiting from optimism on the global economy," said Ralph Preston, market analyst at Heritage West Financial.

Fri, 02/18/2011 - 15:09 | 975189 Zero Govt
Zero Govt's picture

fuking hilarious quote... CNBC sure to have Ralph Preston on as a "Silver expert" guest ...they billed some ex-Fed crone as a "Gold expert" couple of months ago, the prat knew jack-shit and just bluffed his way through about the TV audience being "dumbed down" just doesn't give credit to the muppet medias 'experts' having IQ's in single digits!

Fri, 02/18/2011 - 15:11 | 975201 Gene Parmesan
Gene Parmesan's picture


Fri, 02/18/2011 - 12:47 | 974536 EscapeKey
EscapeKey's picture

It's a good thing those Iranian ships were allowed through the Suez, eh?

Fri, 02/18/2011 - 12:46 | 974537 silvertrain
silvertrain's picture

 Long Whites metal Detectors!!!

Fri, 02/18/2011 - 12:46 | 974542 NotApplicable
NotApplicable's picture

And not 2 hours ago, I went to my dealer to get a tube of Eagles, but he was out of town until tomorrow at a coin show.


Fri, 02/18/2011 - 12:50 | 974568 The Disappointed
The Disappointed's picture

I hate when that happens.

Fri, 02/18/2011 - 12:47 | 974544 DaBernank
DaBernank's picture

I'm elated for all the physical Silver I own and the miners. I'm pissed I didn't pull the trigger on my shopping cart at APMEX 4 days ago.

Fri, 02/18/2011 - 12:48 | 974561 They_Live
They_Live's picture

Know the feeling, parabolic bitchez!

Fri, 02/18/2011 - 12:54 | 974598 unky
unky's picture

i sold from my kitco pool account few days ago in order to buy real stuff but now i didnt receive the money on time, what a fuck

Fri, 02/18/2011 - 12:47 | 974545 curbyourrisk
curbyourrisk's picture

JPMorgan doesn't pay margin calls...  They give margin calls.


You think Jamie Dimon gonna be pushed around by someone me??  He is just gonna look over his shoulder and say "Ben.....get to work"

Fri, 02/18/2011 - 13:08 | 974686 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

A lot of good that has done him.

Fri, 02/18/2011 - 12:48 | 974547 Misean
Misean's picture

I wonder if Blythe's cloud has a silver lining...and if so, did she short it?

Fri, 02/18/2011 - 12:48 | 974558 silvertrain
silvertrain's picture

 Silver Gold Ratio has closed to  42 , thats whats up...

Fri, 02/18/2011 - 12:48 | 974559 Oh regional Indian
Oh regional Indian's picture

Always on a friday! yay! TGIF! etc...

This will be a breakout that will set the next low. A much higher low, for sure.

What then? 7 days is an eternity.

Like watching a gargantuan metamorphosis in slow motion. And still exciting! 

Seat belts on. Afterburners can only fire in short bursts.


Fri, 02/18/2011 - 12:49 | 974563 Harmonious_Diss...
Harmonious_Dissonance's picture

$5 days coming soon, so sayeth the bears

Fri, 02/18/2011 - 12:55 | 974605 NotApplicable
NotApplicable's picture

Only at the Crimex, or perhaps SLV, or some other paper tiger.

There will never, ever be any physical supply at that price again.

Fri, 02/18/2011 - 13:07 | 974678 Harmonious_Diss...
Harmonious_Dissonance's picture

$5 Increases! These "bears" :



Fri, 02/18/2011 - 13:09 | 974700 ZeroHour
ZeroHour's picture

I think he meant "$5 moves" per day.

Fri, 02/18/2011 - 15:52 | 975314 MrBoompi
MrBoompi's picture

If silver ever went to $5 I would sell everything else I own, take out loans for as much money as the banks would give me, max out my credit cards, and buy as much silver as I could.

Fri, 02/18/2011 - 12:49 | 974567 NOTW777
NOTW777's picture

how? how, can cnbc not be covering this.

they just posted a commodity board with oil, gold and no silver

where is kass

Fri, 02/18/2011 - 12:52 | 974584 NOTW777
NOTW777's picture

they are covering - soup

Fri, 02/18/2011 - 12:57 | 974618 NotApplicable
NotApplicable's picture

They even had a guy on earlier talking about a platinum/palladium convergence trade. Not with each other mind you, but with gold.

Fri, 02/18/2011 - 13:40 | 974850 trav7777
trav7777's picture

the production dynamics are too dissimilar.  Why is it that these chartmonkeys ignore the real world?

I could conceive of Pd/Pt price convergence, but both really ought to trade at far higher than present and substantially higher than gold just given that their yearly production is 6% of gold's and Pt has been in supply deficit (with Russia selling surplus stocks to make up the diff) for some time now.

Fri, 02/18/2011 - 19:41 | 976028 DoChenRollingBearing
DoChenRollingBearing's picture

Great observation trav.

Be diversified and buy them all!

Au, Ag, Pt, Pd

Fri, 02/18/2011 - 13:06 | 974676 kadriana288
kadriana288's picture

I'm curious to see if the Fast Money guys talk about it.

Fri, 02/18/2011 - 12:50 | 974571 overmedicatedun...
overmedicatedundersexed's picture

so much news is positive for PM's it's a world gone mad by elites who have plundered the wealth of nations,,subconcious understanding of the banksters and gov corruption world wide is now exploding in the ME and in our mid west states wisconsin view of things to come:

" from Paas board:Silver just blew through the roof without even stopping for any noticable correction. When the buying frenzy does stop, it holds its current level solid. I haven't seen any analysis of why this is happening, but I have a feeling a lot of people are watching the situation in Wisconsin and are starting to see the beginnings of America's "Greek Moment." The union protests and political battles are bringing home the reality of our political instability coming to a head. States are bankrupt, state workers and union thugs are unwilling to compromise and things could get ugly. Interest in precious metals was sharply renewed right when all this started happening."

Fri, 02/18/2011 - 12:52 | 974577 qussl3
qussl3's picture

Cat is out of the bag.

Countdown till retail starts piling in has begun.

Will be very interesting to see how TPTB finally kills this PM rally, a new reserve may be inevitable, or perhaps *gasp* some variant of Freegold.

Fri, 02/18/2011 - 14:20 | 975001 Larry Darrell
Larry Darrell's picture

LOOOOOOOOOOONG way from "retail" piling in.  Especially into physical.  Went by my coin shop to pick up a few more eagles over lunch.  Only 1 person in the store besides me, and he was SELLING his gold.  I didn't say a word.

Although the guy who works there everyday actually remembered me now, as he noted I was back buying again.  I should probably find a new store......don't wanna become "recognized."

Fri, 02/18/2011 - 12:51 | 974580 jus_lite_reading
jus_lite_reading's picture

Listen guys, I know you all have got your dicks up over this little increase in silver, so what will you do when silver makes $5 gains in a single day? You will bust a vein!

Captain A-Jax over and OUT! YEEE HAWW!

Fri, 02/18/2011 - 12:55 | 974607 unky
unky's picture

seriously, i cannot concentrate on my work while this truely parabolic rise is going on

Fri, 02/18/2011 - 12:58 | 974632 jus_lite_reading
jus_lite_reading's picture

Why work? If you bought silver last year, you could retire...

Fri, 02/18/2011 - 13:09 | 974698 unky
unky's picture

unfortunately i am in my 20ies and didnt even had a chance to gather some money. however i convinced my parents and they may retire soon

Fri, 02/18/2011 - 13:25 | 974765 BanksterSlayer
BanksterSlayer's picture

Unky, I did the same thing with my parents! They lost three homes in what we now know was illegal Fraudclosre by Wells Fargo ... but they did manage to buy silver at $21. And I bought some too at $17 ... but am now using the profits to finance my own fraudclosure law suit against --guess which bank-- Chase. What a hoot!

Fri, 02/18/2011 - 13:25 | 974763 tmosley
tmosley's picture

That's what I'm thinking.  It is hard for me to get anything done today.  I found myself checking kitco on my phone during a meeting this morning.

If I didn't absolutely love my work, I would be looking to retire about now. 

Sat, 02/19/2011 - 01:41 | 976907 Red Neck Repugnicant
Red Neck Repugnicant's picture

Douche bag alert!

Fri, 02/18/2011 - 16:12 | 975383 SRV - ES339
SRV - ES339's picture

... been there... done that... lol!

Fri, 02/18/2011 - 12:57 | 974622 Dr. Richard Head
Dr. Richard Head's picture

One can only hope for more vein busting. 

Fri, 02/18/2011 - 12:52 | 974583 e_u_r_o
e_u_r_o's picture

gold lagging hard

how fkn long will EUR stay up?

Fri, 02/18/2011 - 13:05 | 974664 jus_lite_reading
jus_lite_reading's picture

Longer than you can stay short... so long as Dr. Deficit aka BEnron aka Ben Shalom continues to print, the EURO goes higher.

The EU is disintegrating, but BEN is printing faster than the decline of the EU!

Fri, 02/18/2011 - 12:53 | 974586 DosZap
DosZap's picture

And Blythe is making a move!

Do NOT follow this link or you will be banned from the site!