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Silver At Escape Velocity, As Another ECB Intervention Desperately Needed
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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Make sure to 'friend' The Bernank.
http://www.facebook.com/BenBernanke.US
I'm still watching JPM, still nothing.
Attn: Trolls. And I am not short silver. I will repeat. I do not and will not short anything when the NYSE Summation Index is grinding up.
Silver is doing great today. Another clean breakout. But JPM is doing OK also.
so could you tell us please how in the world do they manage to bring down the price. i mean, what tools do they have?
- comex: margin increase
- CB: interest increase (china + EU wants too)
- what else?
i am not really into that stuff, so would be great to hear what else could they possibly do?
Liquidation orders only.
That discredits the exchange. That means that spot price will no longer reflect COMEX trading.
Which brings up a question; without COMEX where will we 'see spot run'? Where would the metal be priced?
between producers and consumers.
COMEX is simply going to forbid delivery or else be forced to stamp out anyone who is not a consumer or producer from taking significant positions, if it comes to that.
But it isn't as if there aren't other exchanges around the world. Oil is already trading in 100 flavors in various bourses.
Sure you can buy a zillion barrels of WTI but the reality is that W. Texas produces very little real crude any longer. It's in the 500kbpd neighborhood. So what real good is a WTI contract?
Sorry for asking, how does a liquidation order work ?
not short? then why the contribution two weeks ago where you wrote about yourself timing a market top. the good thing about the internet is that one leaves a paper trail.
btw: a month ago you wrote that egypt and the mideast would be off the front pages in two weeks time. wrong again.
Land, Lumber, Paper. I'm talking IP. It's down today, looks like some hedge fund needs to unload. I'm a buyer. I'll take it all. NKE looks good. Missed LNN but that could be the mother of short squeezes today.
Who you calling a troll Robo? Those who catch you you in your doubletalk and hypocrisy?
As far as JPM is concerned, what kind of comprehension problems do you have with all the the material Tyler gives you to read here? What is your problem getting up to speed on all of this?
Open you eyes dude.
Who you calling a troll?!
Queen Latifah - U.N.I.T.Y.:
http://www.youtube.com/watch?v=f8cHxydDb7o
but Robot you told us to sell silver, what happened my fellow troll
LOL. Johnny Bravo aka Biggus Dickus is still making good calls. Only getting them 180 degrees in the wrong direction. You need to dumb him down he's too good of a tell in the poker game.
by Bigger Dickuson Fri, 02/11/2011 - 17:31
#954372
The charts are predicting a 2 to 5% correction in silver next week. Hedge accordingly.
Attn: Trolls. I am a fucking idiot from California and will post everything from Yahoo finance. Dude, you aren't retired. Nobody believes you. In fact, nobody really believes that you actually invest at all.
good one.
Hello sexy! I think I am in love with you and in silver ofcourse!
Yohoo SILVER here I Cumm!!!
lol, the Rodney Dangerfield of chart pasters.
Best thing to do in this situation is pile on.
Oh, yes. I always thought some plays from my old football days would come in handy at silver investment time....
time for a huge chart from old catfish mouth robo uber bull bear wanna be comparing silver to some obscure 4 lettered symbol stock trading ave daily vol of 100,000 shares that happens to be up a few bucks, taunting silver bulls that had they only invested in it they would have outperformed silver like him.
hilarious. while i was typing the old catfish mouth met expectations.
here they come i believe...taking a cent at a time...
keep watching everybody.....32.80 down to 32.62 n a flash...
i better not watch it anymore...
I can hardly wait for the CNBC interview by the dazed and confused Maria Bartiromo with some JPM analyst who is going to tell us all how this silver thing is due to some unexpected demand surge in China, or some emergency shutdown of a Mexican copper mine, or some perfect storm handed down by the gods of economics that not even their greatest analytical minds in the universe could have possibly foreseen. In any case, the recommendation will be to sell, because, the phenomenon will likely be short lived.
No wait, a JPM analyst would be too obvious. Lets make it a Goldman analyst instead. That way when they convince everyone to sell, Goldman can increase their long position even more.
....it's the snow. I suppose the "experts" statement will be that it closed down mining and refining and closed dealers worldwide - who are all sitting on massive all time record high inventory, but just can't move it because of all the snow....hence the shortage is only an anomoly so you'd be better off buying AAPL and going skiing in Jackson Hole.
"Silver bells ... silver bells ... it's profit time in the market.
Hear them ring ... Butler sing ... soon it will be default day."
Jamie D: "Blight Masters! Pull your shit together! Do you know how many SLV call options could close in the money today!"
http://finance.yahoo.com/q/op?s=SLV&m=2011-02
What a glorious day this is. I am going to don my silver hat and go whack off in the shower. Fuck JPM. The margin rate hike a non starter cause peeps want delivery!! I am prayong that the front month will just have 10k contracts standing for delivery. Show the white gold bitchezz!
wa hah hah ha LMAO ROTFL in tears
ahhh... wah... Ding dam nabit! I was still waiting for the pull back.
I could take 'em all and stick a roll of eagles where the sun don't shine...
Silver Bugs,
Silver Bugs,
Soon it will be Christmastime! =)
We are now officially in LALA LAND! Watch the FEDs! Next!
Come on in, the water is fine.
$50, anyone? by march 21.
A dollar a day...
...seems reasonable at this point.
Silver, Cotten, Wheat, Corn, Cocoa, Sugar, Rice, Uranium, Rare Earths, Gold, etc., etc. Can the banks really keep a lid on all the inflation, while ensuring that the equity markets remain "green" and governments can borrow at low interest rates? Doesn't look like they can.
oh,oh,oh ... an Ouroboros avatar! May I borrow, to use on other non-ZH forums (under my alter identity as The Serpent Bearer?)
By the power vested in me as an Ouroboros avatar, I grant thee the right to bear such Ouroboros in other non-ZH forums.
hey Bankster, Serpent Bearer, you might find this more appropriate.
http://gelageo.com/ophiuchus.aspx
Let's pool together money for silver dildos and fed ex one to Dimon and the Ben Bernank, with note enclosed reading:
It should be fairly obvious what you can do with this.
Gives a whole new meaning to Steely Dan...
No, please don't.
If you send them 20 ounces of silver, they will sell 5 new COMEX contracts based on that.
Just give em some lead-tin alloy, and tell em its silver.
Fed delenda est.
Doc that's the best one you've had yet!!! LOL!
the london close...thats where the 20 cent drop came from...but of course....
Tyler: no apologies needed for the repeated Silver meme today. Keep it coming, baby. I'm just going to step out for an hour while I send a thank-you card to Blythe Masters along with a package of Egyptian-cotton underwear. Can't wait to see what price is Silver is at while I eat lunch.
Relax,
This temporary rise in silver is just due to winter storms causing people not to being able to rush to the stores to sell their silver.
Well, it's definitely not inflationary.
will plow your driveway
if you sell me your silver....
Just take care that he doesn't plow yours.
Abby Joseph Cohen:
"I see undervalued ratios on all U.S. equity indexes here, which has only augmented my bullish sentiment. I expect to see across the board gains on major indexes of 74% to 93% during the remainder of 2011, and far larger gains for specific high-beta equities that have risen the most since the 2009 lows. My revised targets by December 31, 2011 are; Dow = 21,776, Nasdaq = 4,776, S&P 500 = 2,776."
untCay...
Well, it's always good to have a target, and a dream, and an illusion; or whatever helps them get through the night; but in this case it would be good also if they didn't care too much if they missed by a couple of hundred percent.
"... USDX = 45 (as US dollar loses WRC status), bread = $9 / loaf, gasoline = $11 / gal, silver = $87 / oz, gold = $2963 / oz ..."
There. Fixed it.
"We're in a tight spot boys! This is it! Tight spot boys! We're in a tight spot!" -- George Clooney, O' Brother where Art Thou?
Damn'd if I don't laugh and say that whenever I'm in a tight spot...my little chickie friend LOL'd the other night though when I said it whils't we were "havin some fun"!
Maybe the "supernova" forecasted by Wynter Benton is not that far off.
Would mean that the strippers are real after all.
Robo Trader -
Remember BP? As I recall they were known to be leaking oil for about a week before the stock started to notice. JPM will be writing really big checks to hedge funds in about a week --- premium to settle for cash. Think they'll quit after this month? They'll be back to milk JPM dry or cover.
Shalom will announce QE3 today to cover JPM margin calls and Q1 bonuses...
Gold
Steady she goes...
http://www.zerohedge.com/forum/99er-charts-0
Nice moves up. About time. But still this is peanuts. Silver ought to be $100 per oz today at the very minimum!
Hey Blythe! Don't touch my junk...
Why is it that no one else has said "Hi ho Silver and away!?
someone did say something quite similar to that a little while back if this counts?
http://buygoldsilver.org/2010/09/hi-ho-gold-n-silver-away/
Hope this holds up by the end of close
Feeling dizzy in a euphoric kind of way.
I've waiting 3 years for this moment. Force Majeure baby!
The commodities board will settle in useless dollars of course, as it is allowed under their charter.
Power to the people- good luck
Force Manuere -- we ain't got shit!
Excellent
Amazing! Nothing puts a smile on my face like a nice run up in silver.
It's going to be a damn good weekend :)
calling Spaulding Smells, William the Bastatd, Master Bates and Jon Nadler
We're witnessing a historic time in the silver market and the likely death throes of a few manipulators.
If you all don't buy the next dip, well....you all are frickin' a-holes. To $60 by June.
been bullish for ten years and been a buyer for ten years but my mining stocks are mostly down today and the divergence is worrying me...
Someone made note yesterday on Turd's blog that a lot of big funds will hedge long silver positions by shorting the miners...........just a possibility.
You own the wrong miners. PAAS, SLW,SVM, HL are up
Question. How do you apologize to someone for fraudulently selling him 100 million oz of valuable precious silver you never had or could never realistically get access to?
A. Buy him Flowers.
B. Tell him it was just a prank.
C. Tell him debt backed irredeemable dollars are better than silver.
D. You don't. Leave the country as fast as you can before you are killed or put in prison.
E. Do the honorable thing and commit suicide.
or, rape yourself?
.
F. Rape yourself
Apologize? Never. JPM is probably preparing a lawsuit against the March paper longs right now, arguing that they caused this market calamity for not accepting and selling to JPM’s bid at a whopping 3 cents per oz. premium over physical.
Blythe has left the building....through the window....poor poor Blythe
I'm sure Blythe is hedged appropriately...
am i the only one who gets a hard on when i make a lot of money?
http://jessescrossroadscafe.blogspot.com/
"Officer, please, for god's sake, they're looting the Food King!"
Word of warning, once real rates are positive all the private silver being accumulated now iwill come out of hiding, and if the Silver Institute's numbers are reliable, minus investment demand silver mined is in surplus.
But positive real rates heh who am i kidding.
I am more concerned with the dudes that have hundreds of thousands of ounces, bought back when it was in the $3.50 range, up thru $6-8.00.
If you had 200k ounces, would you cave, and sell half?,ALL?.
Br tough to hold esp as volatile as Slvr is.How many times have WE seen it go up a $150+ and go neg next day, lost all gains and $.60 more per oz,
Gold goes up the stairs, and down the elevator, Silver just the opposite.
Shit.......this is silver fan
Silver Fan......this is ooo no00000000000000000000ooooooooooo!
Have fun!
10 consecutive greens on the one hour slv (i'm sure there are better silver examples to note however this is the one i follow) chart. never seen it happen before.
And actually you CAN eat silver, well sort of, more like drinking it, and will make you healthier:
http://www.keelynet.com/biology/colloid.htm
As a bonus, silver is the metal with the highest electrical conductivity form all naturally occurring metals.
It is not coincidently that the electical qualities/price ratio makes it very valuable for industrial applications.
SI H11 is offered at 32.78 130 times. that's $20M worth of paper silver. guess who?
well they lifted that one
all the offers have gone now
game on/over
fuck and i said id never buy ag at over $1k a Kg. now its rocketting up and i got an urge to join in. especially if its gonna kill some evil banksters. maybe just 1 more Kg.
Looks who's butt fucking each other again or circle jerking again. Fuck the BOE and FED as they cuddle with our futures like a child molester does with his victim. Sick fucks
http://www.telegraph.co.uk/finance/financetopics/g20-summit/8333854/G20-Paris-Bernanke-defends-easy-money-policy-and-calls-for-currency-reform.html#
Almost $33! She's gone vertical!
I sensed that calm before the storm yesterday and tripled my bet size. :) Was out for the last two hours, so I missed 32.10-32.83. Haven't told the little lady yet.
http://66.38.218.33/charts/livesilver.html
dont forget to hedge your silver with... AMMO! and other metals!
Maybe some physical solar as well?
Be a Boy Scout! Be Prepared!! Please!? all of my fellow ZeroHedgers!!! ***** BE PREPARED!!!!!!!!!*****
Have fun eating your physical silver in the post-apocalyptic Mad Max aftermath, wiener.
I've personally hedged my PM position with physical onions and sauerkraut. Lots of vitamin C and they keep over winter.
I hope you have a correspondingly large hedge of Beano to go with all that, or you are going to have a very irate contingent of survival bunker mates on your hands.
This song goes out to Ben & Blythe......
http://www.youtube.com/watch?v=pc0mxOXbWIU
Perfect! and perfect timing too....PM close in 16 minutes
Sweet, we deserve this. So many calling us fools. Who is laughing now.
uh oh here comes the beat down on low volume
Silver's dropping back down. Back to your regular programming. Bee-yatchezzz!
We were somewhere around Bankersville near the end of the dollar when the effects of QE3 began to take hold. I remember saying something like “I feel a little long on dollars; maybe you should invest…”
And suddenly there was a terrible roar all around us and the sky was full of what looked like huge Banksters, all swooping and screeching and diving around the car, which was going about a hundred miles an hour, strait to the end of the dollar.
And a voice was screaming: “Holy Jesus! Who are these goddamn bastards?”
Then it was quiet again. My financial advisor had taken his shirt off and was pouring SLV on his chest, to facilitate the QE process.
“What the hell are you yelling about?” he muttered, staring up at the pyramid with his eyes closed and covered with wraparound FRB blinders. “Never mind,” I said. “It’s your turn to invest.”
I hit the brakes and aimed my 401k toward the shoulder of the highway.
No point mentioning those Banksters, I thought. The poor bastard will see them soon enough.
Love it! Now TELL ME ABOUT THE FUCKING GOLF SHOES!
“Banksters!” he said. “If you think we’re in trouble now, wait till you see what’s happening at the POMO.” He took off his FRB blinders and I could see he’d been crying.
“I just went upstairs to see this man Diamond,” he said. “I told him we knew what he was up to. He says he’s a respectable banker, but when I mentioned Max Keiser – well, that did it; he freaked. I could see it in his eyes. He knows we’re onto him.”
“Does he understand we know Tyler?” I said. “No. But I told him every time he pushes silver down, were going to buy the shit out of that goddamned dip. That scared the piss out of him.”
“Good,” I said. “But what about our room? And the golf shoes? We’re right in the middle of a fucking QE zoo! And somebody’s printing zeros for these goddamn things!
It won’t be long before they tear us to shreds. Jesus, look at the floor! Have you ever seen so much blood? How many 401k’s have they killed already?”
I pointed across the room to a group that seemed to be staring at us. “Holy shit, look at that bunch over there! They’ve spotted us!”
“That’s the Zero Hedge registration table,” he said. “That’s where you have to sign in for your id. Shit, let’s get it over with. You handle that, and I’ll wait on the porch. It was raining when the door finally opened.”
Primo.
Right now I'm looking at a Ralph Steadman print of HST sneaking out of the casino hanging on the wall behind my screen.
May need to re-read that book.
http://www.99chan.in/lit/src/Hunter_S_Thompson_-_Fear_And_Loathing_In_Las_Vegas.pdf
the boat use to have
8000 lbs of rebar
for ballast .....
We should have all gone long on
No, not that stuff. Everyone should be long who ever makes the zero keys for Dell keyboards.
LOOK AT THE SILVER LEASE RATES http://www.kitcosilver.com/charts/silverleaserate.html
When silver lease rates hit the 30 year mortgage rate....
Here comes the pushdown right before Gold expiry (in 10 minutes) 12:30 PM central
It's war I tell ya !
WAR!
So, what then, are you calling a BTFD at 12:31 central?
Yes, before 12:30 PM central on Monday contract rollover results.
Market closed Monday ? PM trading open though, so before the close today ? Hell I dont know !
And I missed the call on limit up 48% in Weight Watchers shares (WTW) yesterday.
http://finance.yahoo.com/echarts?s=WTW+Interactive#symbol=WTW;range=5d
My Bad !
Classic, I tend to check IG Index for the current price. In the press notes from Reuters, the reason for the rise is due to the unrest in the Middle East. Middle East my arse, I think it has more to do with the Backwardation of silver. Twats.
Gonna enjoy Harvey's blog tonight.
Might take a trip to London this weekend to see the Greatest Fire of London down at the LBMA. I can see the smoke from here.
Ps. Loved Lennon's Little Timmy sketch earlier. Got strange looks as I pissed myself laughing.
.
definitely
I started carrying an Oz of Silver in my pocket. For good luck and as a reminder how much I hate Big Banks and TBTF's. I'll bet Bernanke can't even spell SILVER!
Oh well, Elliott Wave have to throw their 9th set of f'n useless charts in 9 months in the bin tonight... their call was for a 9th drop in a row below $26.30 (wrong, very wrong) and Silvers blown through their "cover-my-arse just in case it goes up" top of $31.30 target (hilariously f'n wrong:)))... how do you make 2 predictions and get BOTH binned in days?? ...this isn't unusual, this is standard shite down the tube from the EW muppets week in week out... so the 100% fuk-up rate on PM's continues into 2011,
Ho Hum!
Elliott Wave: beyond crap
Yes; it's important to remember, there's no such thing as an Elliot Wave; it's just a subjective creation of its interpreter.
Whoever that guy who called TSE:CZN yesturday is, cheers to you and thanks!
And Blythe shows up from her dungeon! Silver @32.33
While Silver prices make history, CNBC is talking about soup all day long...
'Soup' is the only known area of expertise for Steve Liesman...
..well that and eating pies and sucking on the rectums of central bwankers to ingratiate yourself with these infamous global economic geniuses: "You got debt? Found a solution, yes we'll double it, sorted."
She has Released the Cracken!!
http://www.youtube.com/watch?v=4tP2J0TjtRM
Gold and Silver Bitchez!
http://www.youtube.com/watch?v=ZNGe7iK1O-4
The ship from Mars did not make it!
Silver the other white meat
JPM.....RICK JAMES BIATCH!
LOL. That's funny. "tastes like chicken?"
Ancient native american proverb
If you find yourself riding a dead horse it is time to dismount.
I am afraid we may see fifty dollar silver within 2011 unless there is some scary macro event out there.
I've sworn off topcalling. Guess I will have to change my name to just the troll.
It's very likely that today is a sort of a top; the price will probably fall a few dollars tuesday and Wednesday, but don't worry, it's a bull market.
It's very likely that today is a sort of a top; the price will probably fall a few dollars tuesday and Wednesday, but don't worry, it's a bull market.
fucking crap LInux browser. sorry.
Drinks all round....!
Cheers .!!!
to Math Man
And all those who believe JP Morgan doesn't have a short position.
I buy silver from Oanda, at 50:1 leverage. Oanda does not take a
directional position and "hedges" out its exposure on the interbank
market. and who says the banks don't have exposure to higher
metal prices? Don't kid yourself, the elephant in the room is not
the Comex, its the trillions in precious metals derivatives floating
around out there.
Chat InformationPlease wait for an agent to respond.
Chat InformationYou are now chatting with 'OANDA'
OANDA: Thank you for choosing OANDA. How may I help you?
mark: hello there
mark: just had a few questions
mark: i am curious how the metals work on oanda
mark: i buy the XAG/USD, and then Oanda hedges out that exposure
mark: how does the hedging work?
mark: what tools are used, that sort of thing
OANDA: We hedge out the exposure with our banks. However, we are unable to disclose the analytical tools, as these are proprietary information.
mark: i am not after the specifics
mark: so oanda is hedging by way of derivatives agreements, not through futures
OANDA: Unfortunately we do not have that information.
mark: who could i get in touch with about that?
OANDA: We are a private company, and we do not disclose operating information to the public. Therefore, we cannot tell you detail information on how to hedge trades with our banks.
mark: as a depositor in your institution, i have, thousands of dollars at stake going up and down like a yoyo and naturally i don't think its unreasonable to have broad information, but if secrecy is your policy -- very well
mark: i care not even who the counterparties are, just the mechanism
mark: which i think we have established, is OTC derivative
OANDA: We registered with the CFTC and we are a member of NFA. We are requested to deposit clients' funds in a segregated bank account at JP Morgan Chase bank. We are not allowed to use clients' funds for any operating expenses.
mark: so when I "take profits" the money goes into a segregated bank account and is theoretically more secure than when it is in its "unrealized" form?
mark: i am not trying to be confrontational, or in your face-- im just honestly quite curious
OANDA: First of all, we do not have the information about the OTC derivative.
OANDA: When you earn profits, the money goes to your personal fxTrade account directly.
mark: i think we both know i am not trying to steal proprietary information from oanda, only a concerned depositor. they say oanda plays an open book, hoping you can live up to that
OANDA: We understood. However, we do not have the information you are asking for.
mark: yes i am aware of what happens from my end when I take profits-- what I am curious about is if "taking profits" causes a change on your end whereby my profits are dropped into a segregated account at JPM
mark: is there someone else I can contact for more details, someone must have details about the mechanism.
mark: it is at least worth a shot, i do not mind being turned down by the brass
OANDA: Since we hedge the trades with our banks, the profit or loss you have does not affect our end. If you win, the bank pays you. If you lose, the bank gets profit. OANDA only provides a trading market for the clients. We are not the dealer.
mark: so whether or not I get paid, is dependent on whether the banks have the money to pay me
mark: if oanda's counterparties default, are they still obligated to pay me?
mark: by "they" i mean oanda
OANDA: Since we have 4 times of the required net capital, we are capable of paying back clients if anything happens.
OANDA: You can find the required net capital from CFTC at the following link:
OANDA: http://www.google.ca/search?q=OTC+derivative\&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
mark: one more question and i'll let you go, i appreciate your time so far
mark: the reserves oanda keeps
mark: 1. are they included in my segregated JPM account?
mark: 2. can they flow across the borders, or does NY virtual branch have its own segregated reserves
mark: seperate from canada
OANDA: If you are talking about the funds we have in the bank account that CFTC requires, please go to the above link.
mark: your link doesnt work
mark: takes me to a google search for OTC derivative/
OANDA: The net capital we have is for the whole company, including the U.S division.
OANDA: http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
OANDA: Those funds are separated from your funds in the JP Morgan Chase bank.
mark: that worked, thank you
OANDA: You're welcome
mark: I believe that wraps us all up, thank you again for your time
OANDA: Thank you for choosing FXTrade. Please contact us anytime.
mark: i wouldn't be with oanda if i didnt think you guys were the best
OANDA: Thank you for your trust.
So if the big boyz can pull a price manipulation, they make bank from every leveraged long trade out there. That's quite a nice carrot dangling out there...although it seems to be attached to a stick.
Saxobank.com / via google. great on-line trading program. Denmark based; very, (enormously) stable bank. excellent client service.
and if the big banks aren't involved why did the
CFTC grandfather the new rules restricting position
size so as not to apply/affect those already holding
positions (and on the long side, not intending
to take delivery of physical-- i think)
People can never understand why I don't buy physical.
I tell them that I am going down with the ship
with 50:1 leverage smoking guns and all I will go out
with a BANG! Physical is for wimps!! Happy Friday.
Even today Jon Nadler still thinks silver is in a bubble....
Nadler is in a bubble--looking at his own distorted reflection.
Jon Nadler is just an insignificant, if uncomfortable and particularly smelly, bubble of intestinal flatulence produced by the rotting of Kitco's balance sheet as a result of their overextended pooled Ponzi PM accounts, and soon to be expelled through the paper-silver-lined rectum of JPMorgan.
National Enquirer headline: JPM Commodities Chief Raped by Talking Bears!
The Great Jeffery Christian says silver rivers are flowing and there is no shortage nor will there be a squeeze...so there.
He should be tripled down on his short position then.
The word 'Great' and Jeffrey Christian should not be used in the same sentence. His real name is Jeffery 100 to 1 Christian.
I've been long PM's since, lets see, 2007 was my first bullion order.
I've considered it a strange sort of hedge against total societal breakdown, and never something to get "rich" off of.
Actually, loosing this PM bet would be the best thing that could happen to me, because it means I'll keep my white collar job, that I'll continue driving my car, and be able to feed my family.
Every darn runup in gold and silver is only a signal that we draw closer to a whole lot of pain, regardless of stash.
Be careful what you wish for.
I`ve been long since,lets see,2010 was my first bullion order.
I`ve never regreded it! I`ve earned alot already! I will Buyy moore now!!!
Cheers!
When gold goes ballistic, that's the sign of monetary catastrophe. Silver much more complicated as it is an industrial input on top of its monetary history. It is a great commodity to buy because it is smaller than, say, carloads of wheat or corn. The story with silver for me, as a investment, is the breakdown of the rigged paper pricing and the emergence of true price discovery. No society breakdown required. Just a price rigging cartel failure.
I think part of the cartel failure is that they would try to hide by bringing down everything...if they can't have it all nobody can!