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Silver Hits Highest Price Since March 7, 1980

Tyler Durden's picture





 

The "correction" is over. The last time silver was here, the 10 Year was at 12.45%, the 2s10s was inverted -210 bps, and gold was $600.

 


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Thu, 02/17/2011 - 12:48 | Link to Comment Jason T
Jason T's picture

I own it!  Not enough though :(

Thu, 02/17/2011 - 12:53 | Link to Comment qrad
qrad's picture

Individually we can't buy enough to stop the manipulation, but together we can. Join the silver flash mob: http://standfordelivery.com

Thu, 02/17/2011 - 13:02 | Link to Comment nope-1004
nope-1004's picture

Blythe has lost control.  When a manipulator loses control, what's next?

You guessed it....  disgrace, shame, stepping down, leaving the country, etc.....

Meat pie and potato soup eatin witch dressed in 'rubbish'.

 

Thu, 02/17/2011 - 13:04 | Link to Comment txapela
txapela's picture

she's english. so whatever. london isn't a bad exile spot.

Thu, 02/17/2011 - 13:30 | Link to Comment barkster
barkster's picture

not to worry. the fed (us taxpayers) will bail her out and pay her bonus.

Thu, 02/17/2011 - 13:43 | Link to Comment gorillaonyourback
gorillaonyourback's picture

yeah jpm morgan will crash then get bailed out with our tax dollars.  when is everyone gonna say fuck you and stop paying taxes

Thu, 02/17/2011 - 14:14 | Link to Comment malikai
malikai's picture

JPM is still in business. Many other things can send the markets into a deflationary spiral still. All they have to do is hold out until it happens. Don't forget that holding out is easy when you're a primary dealer.

Thu, 02/17/2011 - 14:58 | Link to Comment MarketTruth
MarketTruth's picture

JP Morgan is a leading owner/member of the private central bank called the United States Federal Reserve. As such, they can never go out of business. Still, it does not mean we can not poke the bee hive and take it down a notch or three.

Keep buying and taking delivery of silver! This is the time for the proverbial 'knockout punch'!

Thu, 02/17/2011 - 15:19 | Link to Comment topshelfstuff
topshelfstuff's picture

keep in mind that JPM has themselves well Hedged this time. Because its not mentioned in the MSMedia people tend to forget. It was all highlighted here in Dec., and their Copper Gains more than off-set any losses they have to take, doing their duty in trying to keep a lid on Silver and Gold. As for why Copper, because Copper would be part of any multi-metal currency system. BTW, Hugo Salinas Price recently detailed exactly how to put one into use, including doing so along with fiat running at the same time...here's some links, and clips:

 

http://www.zerohedge.com/article/jp-morgan-denies-it-holds-more-90-copper-market-no-statement-whether-it-holds-89

JP Morgan Denies It Holds More Than 90% Of The Copper Market... No Statement On Whether It Holds 89%

 

A Single Trader, JP Morgan, Holds 90% Of LME Copper

 

http://www.zerohedge.com/article/single-trader-jp-morgan-......

When a week ago we reported that JP Morgan has denied it owned more than 90% of the copper positions on the LME, we suggested that this could very well mean that Blythe Master's firm could just as easily control 89.999% of the copper and still not misrepresent the truth per that non-commital press release. Turns out our unbridled cynicism was spot on as usual. The Wall Street Journal has just reported that in the copper market "a single trader has reported it owns 80% to 90% of the copper sitting in London Metal Exchange warehouses

From the WSJ:

Copper soared to a new record of $4.2705 per pound on Tuesday in New York, and is up 28.3% this year. The LME's three-month copper contract closed at $9,353.50 a metric ton, up 1.6% on the day, a new record.

 

 

Thu, 02/17/2011 - 15:40 | Link to Comment Hephasteus
Hephasteus's picture

JP Morgan own's tons of copper for one simple reason. It's a byproduct of silver mining. It's reported that silver is a byproduct of copper mining but that's not true it's the opposite. JP Morgan got hurt real bad with copper prices on the 2nd crash during the great depression. They will get hurt real bad with copper prices on this crash.

And Katherine Austin Fitts is a wonderful smart person. But she's going to learn something new this year. She going to learn the inter relationship dynamics between sociopaths controlling sheeple. Get ready for buck a pound copper and 80 dollar a pound solder and no construction and wars and tax refusals and draft not dodges but straght up fuck you at the point of a gun.

70/30 solder. It's the next not a bubble but real trouble, bitchez.

Thu, 02/17/2011 - 20:22 | Link to Comment barkster
barkster's picture

could you please explain your post - i do not understand what you are saying but i am curious. what is solder? 70/30 solder? why is CAF wrong?

thanks...

Thu, 02/17/2011 - 23:00 | Link to Comment Hephasteus
Hephasteus's picture

She's wrong because she thinks that the bank can go all military industrial complex on the us population. They can't. If they do they lose the entire us population forever. And if you thought nam vets had it harsh you ain't seen nothing yet if they do threaten the us population.

She also doesn't understand that our money supply is simply a derivative of gold valuation. Read the tyler story about people buying 25 thousand dollar cars for 100k in dollars. The dollar dump is not only here. It's here with hair on it and smelly breath. There's going to be a big pop in profits and money with the dollar dump. But it's all over after that. It's headed for sub 62 range which basically means pariah banana republic currency.

Solder is what you use to join electronic components together. It's based on silver and lead and tin. But it has lots and lots of silver in it especially for the new ball mount electronics components. Which don't use much in the way of solder but still silver will put a severe hurt on the electronics and solar industry.

Thu, 02/17/2011 - 18:11 | Link to Comment Lord Koos
Lord Koos's picture

The copper in London is hardly the only copper in the world, nor does the rest of the world only buy on the COMEX.

Thu, 02/17/2011 - 21:27 | Link to Comment DosZap
DosZap's picture

Hell it was announced after the GATA deal, the morgue went and bought the Copper mkt, lock stock and damn near the barrel.

Then, if that were not bad enough, OWAHWAH gave them a GET OUT OF JAIL FREE card on Silver.

So now they control BOTH.

The Whitehouse and Wall Street are married, and their bros n sisters from Arkansas.

Thu, 02/17/2011 - 16:35 | Link to Comment European American
European American's picture

Yes, that's another weapon in our arsenal to bring "Them" down.

Between now and April 15th a mass movement, stepping stride of stride with the acquisition of the Silver movement, needs to come together.

DON'T PAY THE IRS WITH YOUR HARD EARNED "DOLLARS", USE IT TO BUY SILVER! (Sorry for the caps, I was moved by the concept)

 

Thu, 02/17/2011 - 17:16 | Link to Comment -Michelle-
-Michelle-'s picture

When we filed our taxes, just before submitting, we got a little blurb window asking us if we'd like to use our refund to purchase US Treasury bonds.  It said they were a great investment.

We purchased some silver eagles and maples instead.

Fri, 02/18/2011 - 00:50 | Link to Comment Sheepneck
Sheepneck's picture

"Why take a cash refund when you can buy some high-quality TREASURY BONDS!  They are the safest investment you can ever make! ... no?  you sure?  please?  pretty please? Damn, just have Bernanke buy them"

Thu, 02/17/2011 - 21:29 | Link to Comment DosZap
DosZap's picture

Most folks have no choice, the gov already has them, and if you do not pay, everything you have you will have garnished.

How do you beat that?.Short of cashing out,and going to jail?.

Thu, 02/17/2011 - 15:06 | Link to Comment DosZap
DosZap's picture

She's a worthy adversary, and is semi hot, in that intellectual way.

Thu, 02/17/2011 - 16:09 | Link to Comment SWRichmond
SWRichmond's picture

A worthy adversary?  Using unlimited taxpayer dollars to cover her losses?  What the hell are you talking about?

Thu, 02/17/2011 - 13:39 | Link to Comment DarkMath
DarkMath's picture

I thought you were going to say Porn....darn...I'd pay big money to watch that.

Thu, 02/17/2011 - 14:29 | Link to Comment IBelieveInMagic
IBelieveInMagic's picture

Pfft gold/silver. Big deal - The stock market is up even without any trading! Money for all!

Thu, 02/17/2011 - 16:46 | Link to Comment SheepDog-One
SheepDog-One's picture

Stock market is up 6% since 1999, gold is up 400% since 1999!

Thu, 02/17/2011 - 13:48 | Link to Comment SWRichmond
SWRichmond's picture

Banzai,

 

Can I please get a pic of Blythe on the ground with Ritchie Blackmore standing with a foot on her head?  I wanna link it for an article and include this (props to someone below who linked the song and reminded me...)

http://www.youtube.com/watch?v=p9nfVrusSMg

Thu, 02/17/2011 - 13:50 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

Hell Yes!!

Thu, 02/17/2011 - 14:05 | Link to Comment h3m1ngw4y
h3m1ngw4y's picture

lol fairy tale world.

what you will get is capital controls.

guess who is laughing in your face as you are ripe for rape again.

but dont worry its for the good of all ;-)

 

Thu, 02/17/2011 - 20:10 | Link to Comment Bendromeda Strain
Bendromeda Strain's picture

Yeah right, cap controls and "they" are laughing? I think it would be more akin to Hume Cronyn's speech to Kristofferson in Rollover...

"Then we're finished, that will really be the end of all of us."

Thu, 02/17/2011 - 16:04 | Link to Comment Amish Hacker
Amish Hacker's picture

Or she could just go work for the World Bank, as suggested in that Hitler video a couple of months back.

Thu, 02/17/2011 - 15:13 | Link to Comment swanpoint
Thu, 02/17/2011 - 15:35 | Link to Comment DosZap
DosZap's picture

She will SLAM this bitch to the ground, mark my words

Thu, 02/17/2011 - 16:51 | Link to Comment TheGoodDoctor
TheGoodDoctor's picture

Well it won't be til next week if that is the case. But what happens at the end of the month? Follow the turd. She's done.

Thu, 02/17/2011 - 13:04 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Allow me to say this: Stand for delivery. There is not enough silver in the entire world to make delivery. See what happens to the value of your silver when everyone is asking...

PS: Do you hear that sound? That cracking sound? That's the EU's foundation crumbling as the PIIGS weight grows everyday by a mass the size the sun.

Thu, 02/17/2011 - 13:31 | Link to Comment bankrupt JPM bu...
bankrupt JPM buy silver's picture

Word has it she jumped off the building...I have a pic of it here

 

www.silvergoldsilver.blogspot.com

Thu, 02/17/2011 - 18:14 | Link to Comment Lord Koos
Lord Koos's picture

If even half the open interest for COMEX silver stands for delivery, they are screwed.

Thu, 02/17/2011 - 14:24 | Link to Comment Triggernometry
Triggernometry's picture

Same here, news like this just prompts a temptation to increase rate of accumulation. Can't do shit else.

Thu, 02/17/2011 - 12:48 | Link to Comment rumblefish
rumblefish's picture

Giddy up!

Thu, 02/17/2011 - 12:58 | Link to Comment jus_lite_reading
jus_lite_reading's picture

I suppose my prediction of $40+ silver within 3 weeks is looking right on track...

Thu, 02/17/2011 - 13:06 | Link to Comment Woppopotamus
Woppopotamus's picture

Your prediction?

Thu, 02/17/2011 - 13:18 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Hey Woppo, that is a cool handle and picture. Funny squared.

And if someone had traded on this prediction, I think the returns would have been, shall we say.....HEFTY!

Check it out... posted on October 18th 2010

http://aadivaahan.wordpress.com/2010/10/18/an-opportunity-and-a-golden-warning/

Thu, 02/17/2011 - 16:31 | Link to Comment ZeroHour
ZeroHour's picture

Is there a way to increase the size of the avatar to see what it actually is?

Thu, 02/17/2011 - 15:48 | Link to Comment Zero Govt
Zero Govt's picture

If she blows through the $31.30 resistance by a Dollar or more Silver could really cut loose... previous all-time high is $50 

...and Rob Prechters 'cry Wolf' Elliott Wave team of hysterical bears will have to throw out their 43rd set of PM's charts ...their predictions still on a 100% failure rate... brilliant!

Thu, 02/17/2011 - 18:15 | Link to Comment Lord Koos
Lord Koos's picture

And that previous high of $50 was in 1980 dollars.  There is a lot of upside... wouldn't want to get caught just holding paper though.

Thu, 02/17/2011 - 13:34 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Yes, my prediction. Of course others are saying the same, but I feel $40 is conservative.

by jus_lite_reading
on Mon, 02/14/2011 - 08:20
#959301


Negligible IMO. I set a 3-4 week period before we see $40 silver...

Thu, 02/17/2011 - 15:14 | Link to Comment Woppopotamus
Woppopotamus's picture

I think its time to start giving wynter benton respect who has called everything since the beginning of january.

Thu, 02/17/2011 - 13:34 | Link to Comment Jason T
Jason T's picture

was meaning to give you credit for that Sir.

Thu, 02/17/2011 - 14:07 | Link to Comment jus_lite_reading
jus_lite_reading's picture

You can thank me in ~3 weeks! ;)

PS- by then, have everything you need...

Thu, 02/17/2011 - 13:51 | Link to Comment SheepDog-One
SheepDog-One's picture

Yep jus_lite, and where did all the PM trolls go all of a sudden?

Thu, 02/17/2011 - 16:19 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Harry wanker was last seen licking Blyth's wounds...

Thu, 02/17/2011 - 13:04 | Link to Comment The Limerick King
The Limerick King's picture

For silver, another great day

Poor Blythe must be starting to pray

To keep out of danger

Just trust the Lone Ranger

Who said: "Hi Ho silver away!"

Thu, 02/17/2011 - 13:22 | Link to Comment dearth vader
dearth vader's picture

Hey LK, that's not bad at all.

Pity, there's hardly a market for poetical value.

Thu, 02/17/2011 - 13:51 | Link to Comment MonsterBox
MonsterBox's picture

Great rhyme!!

Thu, 02/17/2011 - 12:49 | Link to Comment SpeakerFTD
SpeakerFTD's picture

Should I be happy the AG/USD exchange rate is surging in my favor or disturbed that every dollar higher in silver increases the odds of WWIII?

Thu, 02/17/2011 - 12:50 | Link to Comment LFMayor
LFMayor's picture

Yes, the sooner we get it over with the better things will be.

Thu, 02/17/2011 - 13:02 | Link to Comment gaoptimize
gaoptimize's picture

TPTB will take a number of defensive actions before they let the collapse of the dollar against any commodity cause WWIII.  Things will appear to happen slower than they should, except in hind-sight.

Thu, 02/17/2011 - 13:13 | Link to Comment jus_lite_reading
jus_lite_reading's picture

" Things will appear to happen slower than they should."

They already have and that is half the fun. No one can be sure when the system goes burst but we do know, things are accelerating rapidly despite the happy talk propaganda and rising stock market. In fact, I'd go as far as saying, the higher the market goes... the more social unrest...

Thu, 02/17/2011 - 13:19 | Link to Comment SpeakerFTD
SpeakerFTD's picture

I honestly don't understand why people are celebrating so much.  I am long A LOT of silver, but this is not great news as far as I am concerned.   

Structurally, the chart looks like it has a potential to enter a parabolic phase (the third leg of a pattern of increasing slope).  If that happens and you are long silver, it will mean you do much much better than everyone else, but that might not be saying much, as an economy with a currency problem has the potential to be a very unpleasant place.   You will be relatively "rich", but rather than meaning that you eat better, it might mean you are a target for the rest of the people that need to eat. 

Do I honestly think this will happen?  No, I think the market will find some way to correct Ben's stupidity before it gets out of control, but then I didn't think the market would let it get this far. 

If you see silver going up $1/day for a series of days in a row with a $2 day in there for kicks, I would consider that a good signal that it's game over.   At that point, I would expect the parabolic move to outlast the existence of a functional market as we know it.   If you see that signal, trade some shrinking green paper for food and ammo pronto. 

 

Thu, 02/17/2011 - 13:51 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Would you prefer slavery?

Thu, 02/17/2011 - 14:06 | Link to Comment h3m1ngw4y
h3m1ngw4y's picture

throughout history it has been dangerous

to be right when the government is wrong

Thu, 02/17/2011 - 14:10 | Link to Comment jus_lite_reading
jus_lite_reading's picture

But man is not made for defeat. A man can be destroyed but not defeated.

Thu, 02/17/2011 - 14:12 | Link to Comment h3m1ngw4y
h3m1ngw4y's picture

1. the best slave is a slave who doesnt believe he is a slave ;-)

2. in rome i think giving 50% or more from your income classified you as slave.

3. please count your taxes to ten and tell me do you really feel free? do you pay more than 50%

 

most men died out long ago

 

 

Thu, 02/17/2011 - 14:30 | Link to Comment Midwest Prepper
Midwest Prepper's picture

I am concerned that after all this, the government could just decide to step in and declare "hoarding" (that is, private ownership of silver bullion) a threat to national security and outlaw it.  Maybe they need the silver to make new naked body scanners or some such excuse - but they will think of something.  Gotta jump out at the right time... Mike Maloney thinks when a median family home in the US sells for 500-600 ounces of silver, it will have peaked... hmmmm

Thu, 02/17/2011 - 15:06 | Link to Comment unky
unky's picture

how many people own silver who do not live in the US? do you think this is the only coutnry in the world, i will be happy to take your silver ;- )

Thu, 02/17/2011 - 16:22 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Many serious PM investors such as myself own smelting kits.

Thu, 02/17/2011 - 18:20 | Link to Comment Lord Koos
Lord Koos's picture

Confiscation didn't work very well in the 30s and it's even less likely to work now.  What are they gonna do, go door to door looking for PMs?  Kind of expensive.  If they try to pass a law like that, it will just go into the underground economy.

Thu, 02/17/2011 - 14:25 | Link to Comment Duffminster
Duffminster's picture

You will be relatively "rich", but rather than meaning that you eat better, it might mean you are a target for the rest of the people that need to eat.

Which is a good reason to order "serf size" meals at McDonalds so that when you exit McDonalds you won't be eaten by hungary Americans that invested in bonds.

Keep your weight downa and your balance sheet in the lock box and you'll be ok.

Duffminster

 

Thu, 02/17/2011 - 15:41 | Link to Comment DosZap
DosZap's picture

Mr. Sinclair says differently.

He has said numerous times to be ready for swings in GOLD to easily go 200-300 each way in ONE day.Maybe several times.

Silver is no different.

This move up is strictly demand.

I see them both retesting OLD highs(not Silvers highest), but the 1429 range on Gold, before we get HIT again.

Thu, 02/17/2011 - 18:24 | Link to Comment Lord Koos
Lord Koos's picture

They can still control gold, but I think for the small silver market it's soon going to be game over.  There will probably be a lot of volatility in the next several weeks, but I expect by the time March is past silver might resume a slower steady climb.

Thu, 02/17/2011 - 12:49 | Link to Comment NOTW777
NOTW777's picture

good near term low call Nic L

Thu, 02/17/2011 - 12:49 | Link to Comment slow_roast
slow_roast's picture

BOOM BITCHEZ!

Thu, 02/17/2011 - 14:28 | Link to Comment WaterWings
WaterWings's picture

D for Delivery

Thu, 02/17/2011 - 12:49 | Link to Comment alien-IQ
alien-IQ's picture

and applying the "ruler" theory...where is this heading?

and conversely...where is the dollar heading?

I guess CNBC didn't want to touch that topic huh?

Thu, 02/17/2011 - 12:50 | Link to Comment Gordon Freeman
Gordon Freeman's picture

Booyah!

Thu, 02/17/2011 - 12:50 | Link to Comment bania
bania's picture

I want a ZH hockey sweater with "Argent" on the back, #47

Thu, 02/17/2011 - 12:50 | Link to Comment Boilermaker
Boilermaker's picture

OH YEA?

Well SPG is at it's 52 week high and climbing while surpassing a 52X PE!

Eat that silver!!

Thu, 02/17/2011 - 12:50 | Link to Comment LibertyPrevails
LibertyPrevails's picture

bitchezzzz

Thu, 02/17/2011 - 12:57 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Witches can lose?  She just needs to wiggle her cute little nose.

http://seeker401.files.wordpress.com/2009/12/blythe-masters.jpg

Thu, 02/17/2011 - 13:46 | Link to Comment Bastiat
Bastiat's picture

Damn!

Thu, 02/17/2011 - 13:59 | Link to Comment velobabe
velobabe's picture

she is kinda H O T , in a devilish way†

Thu, 02/17/2011 - 18:26 | Link to Comment Lord Koos
Lord Koos's picture

Blech... if cold corporate types are your thing...

Thu, 02/17/2011 - 12:51 | Link to Comment silvertrain
silvertrain's picture

 Panic buying bitchez !!

Thu, 02/17/2011 - 12:51 | Link to Comment HUGE_Gamma
HUGE_Gamma's picture

stick it to the vampire with a silver fork

Thu, 02/17/2011 - 12:50 | Link to Comment LostWages
LostWages's picture

Blythe Ho Silver...Awayyyyyyyyyyyyyyyyy!

Thu, 02/17/2011 - 12:50 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

I AM THE MAN ON THE SILVER MOUNTAIN!!

http://www.youtube.com/watch?v=vOyFE-1LAI0

Thu, 02/17/2011 - 12:50 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

BLYTHE GANGBANG, bitchez!!!

Thu, 02/17/2011 - 12:51 | Link to Comment kentfinance
kentfinance's picture

activity resembles shorts stopping out

Thu, 02/17/2011 - 13:02 | Link to Comment Bam_Man
Bam_Man's picture

You betcha. And many more to follow.

Thu, 02/17/2011 - 13:07 | Link to Comment Sean7k
Sean7k's picture

Anyone else concerned gold isn't coming along for the ride?

Thu, 02/17/2011 - 13:16 | Link to Comment Nostradamus
Nostradamus's picture

Not really.  Silver has some catching up to do.  Remember, silver hasn't even exceeded it's 1980 high yet.  Gold passed it's 1980 high a couple of years ago.  So I would expect silver to routinely outperform gold from here until the bull market is over, however both will do very well.

Thu, 02/17/2011 - 15:23 | Link to Comment Attitude_Check
Attitude_Check's picture

I don't expect a major pull on Gold until the Gold/silver ratio hits 30-35, then increasing pull until 20, then near lockstep.

Thu, 02/17/2011 - 18:31 | Link to Comment Lord Koos
Lord Koos's picture

When that ratio hits under 30 I'm going to trade about half my Ag for Au...

Thu, 02/17/2011 - 12:51 | Link to Comment sheeple
sheeple's picture

keep the squeeze coming

Thu, 02/17/2011 - 12:52 | Link to Comment cossack55
cossack55's picture

Wake me when headline reads "Silver in virgin territory".

Thu, 02/17/2011 - 13:42 | Link to Comment MachoMan
MachoMan's picture

why the hell would silver go to a star trek convention?

Thu, 02/17/2011 - 13:54 | Link to Comment SheepDog-One
SheepDog-One's picture

LULZ

Thu, 02/17/2011 - 12:52 | Link to Comment Fortunes Favor
Thu, 02/17/2011 - 12:52 | Link to Comment jobs1234
jobs1234's picture

Hoenig is probably helping  when he says "Fed is causing inflation and thats great"

Thanks Ben!

Thu, 02/17/2011 - 12:53 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

I've been kicking myself during this past month for not having the resources to buy more physical.. unfortunately life often has other plans for your money.

 

ps. never talk about extra money around cars or appliances.. they have ears.

Thu, 02/17/2011 - 13:11 | Link to Comment lynnybee
lynnybee's picture

Dr. Pchop ! ........ just do the best you can, keep accumulating, & be grateful for what you have in silver......... that is what I learned.     The Government & banking system  &  have removed the knowledge from the general population regarding silver & gold......... this was common knowledge in my grandparents day.

Be grateful for what silver you have cause, baby, YOU'RE GONNA NEED IT !!!

Thu, 02/17/2011 - 12:58 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

:>)

And spouses. Male or female, it doesn't matter. Extra money means gone, consumed, evaporated, exited stage right.

There is no such thing as extra money, only money not currently allocated but soon to be.

Thu, 02/17/2011 - 15:31 | Link to Comment MachoMan
MachoMan's picture

No way.  If my spouse was going to spend our money like that, she would get the boot pretty quickly...  she understands the value of savings (or, more likely, just has an incredibly frugal way of life)... 

She realizes that if we play our cards right and navigate the coming waters correctly (although it will take a fucking miracle), we may stand to be in financial heaven/retirement...  but, in order to give ourselves the best chance of success, we have to remain flexible and debt free. 

Also, if you're worried about cars needing repairs, buy japanese (toyota).

Thu, 02/17/2011 - 19:47 | Link to Comment DeltaFunctionToronto
DeltaFunctionToronto's picture

My friend, you would benefit yourself by coming to terms with the fact that where we are going, there will be neither peace nor retirement.

Thu, 02/17/2011 - 20:37 | Link to Comment Sunshine n Lollipops
Sunshine n Lollipops's picture

Really, DFT, who are you? You seem to be in possession of some rather esoteric information.

Thu, 02/17/2011 - 21:13 | Link to Comment MachoMan
MachoMan's picture

It depends on the period of bloodshed...  I like to think that after significant deleveraging, there will be viable opportunities for able bodied/minded folks who are willing to work (albeit if they post on the internet too much)...  hopefully, I won't need depends and ensure by the time the evironment is favorable to make some scratch.

Thu, 02/17/2011 - 13:01 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

So true, so true!!

Thu, 02/17/2011 - 13:50 | Link to Comment quasimodo
quasimodo's picture

+ a new set of tires and a fridge that took a dump, all within a week.

Thu, 02/17/2011 - 12:53 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Perfect evidence of a bubble top*

 

 

* not really, I just wanted to see how it feels to be a complete loser troll.  Why would anyone do this?

Thu, 02/17/2011 - 12:56 | Link to Comment HUGE_Gamma
HUGE_Gamma's picture

lulz

Thu, 02/17/2011 - 12:54 | Link to Comment Let them all fail
Let them all fail's picture

Why do so many of you make stupid random comments that add no value to this site and simply force people to filter through crap-comments to find things of value? (I realize this qualifies as stupid random comment but curiousity got the best of me)

Thu, 02/17/2011 - 12:56 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

Because on news like this, there is not much analysis to make. Facts speak for themselves. 

And everybody here is tense, so they relax. 

Thu, 02/17/2011 - 12:57 | Link to Comment watchingdogma
watchingdogma's picture

Some of us are REALLY happy to see silver break free.  I came just to share in the gloating....

Thu, 02/17/2011 - 13:00 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

My lantern shines upon an honest man.

Confirmation bias, when confirmed, feels soooooooo good. God bless those endorphins. :>)

http://en.wikipedia.org/wiki/Endorphin

Thu, 02/17/2011 - 13:31 | Link to Comment watchingdogma
watchingdogma's picture

Confirmation Bias Bitchez!!!

(sorry - just had to)

Thu, 02/17/2011 - 13:43 | Link to Comment fuu
fuu's picture

That's my line!

Thu, 02/17/2011 - 14:10 | Link to Comment velobabe
velobabe's picture

thanks for that link, coggy. it is true. i was on the start line of a mass start cross country skate race. this idiot just deliberately stepped on my skis, and brought me down really hard to the ground. i had broken a small bone in my right hand i learned, after finishing the race, pretty good finish time, went straight to emergency and got Xray. it really perks you up with pain and anger. something like this happened, when broke my rib in a mountain bike race. i came off a rock and my ribs hit my saddle.

Thu, 02/17/2011 - 13:04 | Link to Comment H. Perowne
H. Perowne's picture

Umm . . . for the lulz? Why can't you spell curiosity properly?

Thu, 02/17/2011 - 13:08 | Link to Comment Let them all fail
Let them all fail's picture

Not sure, I always make that mistake, guess my mind simply doesn't work right...

Thu, 02/17/2011 - 13:51 | Link to Comment quasimodo
quasimodo's picture

Are you on the rag?

Thu, 02/17/2011 - 14:33 | Link to Comment LFMayor
LFMayor's picture

You should be fucking happy we trust you with even that small amount of real work.

Thu, 02/17/2011 - 16:44 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Mother promised me a pony if silver breaks 40 by my birthday in March.  I will call her Star, and feed her cubes of sugar.

Thu, 02/17/2011 - 20:48 | Link to Comment Sunshine n Lollipops
Sunshine n Lollipops's picture

Oh, Rafty, you know Mother is liable to say anything when she's been drinking.

Thu, 02/17/2011 - 12:55 | Link to Comment BennyBoy
BennyBoy's picture

Coming soon to the Fraudulent Exchanges:

 

Silver plated Tungsten bars! (or the metal equivalent for silver)

Thu, 02/17/2011 - 14:41 | Link to Comment Acidtest Dummy
Acidtest Dummy's picture

Molybdenum (Mo) is para-magnetic, silver (Ag) is non-magnetic. (Mexico has an abundance of both.) Caveat Emptor.

Thu, 02/17/2011 - 13:09 | Link to Comment eftian
eftian's picture

molybdenum has an almost identical density to silver:

 

http://www.roadtoroota.com/public/212.cfm

Thu, 02/17/2011 - 14:01 | Link to Comment A Texan
A Texan's picture

It doesn't seem to pay to produce silver-coated Moly bullion coins, and it would seriously NOT be worth it for junk silver.  Hence, I have virtually all of my stash in junk silver, some in Eagles and some in old proof sets that still have more value as coins than as raw silver.

Yeah, and look for that particular silver ring...it is the easiest way to confirm authenticity in coins.

Thu, 02/17/2011 - 21:36 | Link to Comment impending doom
impending doom's picture

Correct, steel is the first choice, but the magnet will reveal that fraud.

Thu, 02/17/2011 - 18:36 | Link to Comment Lord Koos
Lord Koos's picture

molyrectum

Thu, 02/17/2011 - 13:53 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

To the trained ear, the "Silver Sound" of ringing the metal is unmistakable!

Thu, 02/17/2011 - 12:55 | Link to Comment GoldSilverBear
GoldSilverBear's picture

Hey! Not fair. The UK is just a bankrupt as you guys and silver isn't at it's highs again in £.

Oh well, gives us a chance to stock up while enjoying our increasly costly cups of tea I guess.

Thu, 02/17/2011 - 13:54 | Link to Comment jus_lite_reading
jus_lite_reading's picture

When in good season...

The EU as a whole is the most insolvent sovereign union. Then comes the UK and the US a close second. In short, the people of the PIIGS are already slaves.

Thu, 02/17/2011 - 16:20 | Link to Comment Zero Govt
Zero Govt's picture

Ahem, in the Ugly Competition the US tops everyone just for the record... much worse than UK and Europe as a whole... and the US banks derivative exposures extend to the outer Universe probably as far as the original Big Bang at the beginning of time 

Thu, 02/17/2011 - 16:24 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Numerically or technically? As I said, he who has the biggest guns wins. What is money? Yup. America is "worse" but still the biggest bully in the yard.

Thu, 02/17/2011 - 17:41 | Link to Comment Zero Govt
Zero Govt's picture

i'm not sure where anyone gets this 'War Theory' idea that you make money out of shooting up other people and their property... the US has NEVER made money out of war, any resources gained are far outweighed by the $100's of Billions in war costs ...war in Afghanistan added to Russias bankruptcy, the US's 2 wars there and Iraq for the past 8-9 years should just about finish you Yanks off ...start another war, you'll be finished in months

Thu, 02/17/2011 - 18:38 | Link to Comment Lord Koos
Lord Koos's picture

Maybe not the US government but plenty of US businesses have gotten fat from wars.

Thu, 02/17/2011 - 12:56 | Link to Comment TeMpTeK
TeMpTeK's picture

i believe we are positive on the year now too....

Thu, 02/17/2011 - 12:57 | Link to Comment Don Smith
Don Smith's picture

God, I love Forex and its 50:1 ratio! 

Thu, 02/17/2011 - 13:02 | Link to Comment alien-IQ
alien-IQ's picture

oui :-)

Thu, 02/17/2011 - 12:57 | Link to Comment Dr. Gonzo
Dr. Gonzo's picture

Felt remorse for buying at Tuesday's high of $30.91. Doubled up last night at $30.73. I'm happy now again.

Thu, 02/17/2011 - 12:57 | Link to Comment Shed Boy
Shed Boy's picture

YAY! Think I'll do a Scrooge McDuck and swim in my bullion! Go Silver!

Thu, 02/17/2011 - 13:04 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Please mentally color correct image to Silver.

 

McHappy McDuck

Thu, 02/17/2011 - 13:18 | Link to Comment Temporalist
Temporalist's picture

That is the Ben Bernank in Alan Greenspan's secret cave vault.  Far from prying eyes.

Thu, 02/17/2011 - 13:26 | Link to Comment watchingdogma
watchingdogma's picture

Does anyone else have some silver pieces at their desk?  I have 2 eagles and 3 walking liberty halves that I fondle on a frequent basis...

Thu, 02/17/2011 - 13:37 | Link to Comment NotApplicable
NotApplicable's picture

I carry one of these in my watch pocket at all times.

Honest Value Never Fails

http://www.icollector.com/27-1974-U-S-Constitution-Honest-Value-Never-Fa...

I like to use it to point out that we don't have honest money (as per Art. 1, Sec. 10), but instead use IOUs for IOUs. Meanwhile my silver ounce remains undebased as its value will always remain an ounce of silver.

Thu, 02/17/2011 - 13:48 | Link to Comment Bastiat
Bastiat's picture

Nice!  I'be been carrying an Eagle for 5 years now.

Thu, 02/17/2011 - 13:54 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

A shameless plug for an article I posted early in January which describes the Silver I carry and what I'm trying to do with that Silver.

http://www.zerohedge.com/article/johnny-silverseed

Thu, 02/17/2011 - 17:22 | Link to Comment Bastiat
Bastiat's picture

Good piece, CD, read it at the time -- also read your long 5 part piece!

Thu, 02/17/2011 - 14:11 | Link to Comment watchingdogma
watchingdogma's picture

I use to carry a $5 gold liberty and talk to people about Henry Ford doublinga days wage to $5 - and bring out a cotton $5 too.  But that was when gold was $400 and I didn't mind losing $125 if I lost it.  I don't any more because I'm afraid of losing it.

Thu, 02/17/2011 - 14:48 | Link to Comment Pants McPants
Pants McPants's picture

I carry a 1 oz ingot with me everyday.  It's like my totem.

Thu, 02/17/2011 - 15:45 | Link to Comment DosZap
DosZap's picture

Same here for a convo piece, I drag around a 1oz Libertad, '84 vintage.

Beautiful coins, I think as attractive as the Eagle easy.

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