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Silver Hits Highest Price Since March 7, 1980
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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Amazing that the price for it back in October was $22.
When my husband picked up chief, I had a USN CPO coin made for him out of silver. He's never without it.
have my half dollar eagle lady liberty 1945 , and 2000 quarter on my silver lamp base. i compared my brand new eagles to this '45 eagle and the '45 eagle is waaaaaaaaay cooler†
I've carried a 1oz gold Panda for 6 years now. It's been bitten, thrown, bounced, dropped and bent. I once considered it an educational prop, but now it's just bragging.
Peace Dollar on my desk, carry three forms of silver in my pocket change (an Eagle, a generic ounce and a morgan dollar) and working to let my employees know where the true value is. Always willing to discuss the silver side of the story.
...but WAY below the 1980 highs in today's dollars!
The next move up is about to happen now that silver has broken resistance. Gold needs to lurch forward only a matter of a few Jackson's to capitulate the dollar. So the question is, what can the President's Working Group on Financial Markets do to delay the inevitable further? I got nothing, and I think it is on like Donkey Kong.
"Scuse me while I kiss the sky"...
sweeeeeeet.
One pre 1965 US Quarter will buy you about two gallons of gas in America. Most people I speak with who just don't get it with regards to Silver, I simply pull out one Silver Quarter and one 'token' post '64 Quarter and give the gasoline cost talk. Everybody 'gets it' after that.
I know that talk very well. One thing I was pointing out to someone last night was that gas has consistently (since 1963 at least) cost 1/6oz of silver. However, that correlation has recently been broken since now that would equate to roughly $5 per gallon.
So the question becomes...if that correlation were to return...how would that manifest itself? Gas rising? Silver dropping? Or a meeting in the middle and then continuing the rise?
That thought occurred recently to me as well..
That correlation is unlikely to return, as the silver stockpiles are gone. Silver is headed for an industrial panic that will leave everything else in the dust. The only thing that could cause energy to keep up is an all out war in the Middle East.
Silver is likely to reach parity with gold as industry realizes that they have been lied to for the last 30 years.
Moseley,
Absolutely correct. If people only understood that the inventories of available above ground silver bullion are a mere fraction of what they were in the 70's and an even smaller fraction of what they were in the 30/40's they would know what was about to happen.
Unlike gold, central banks do not have any inventory to stabalize the price and the demand in industry, fabrication and increasingly in medical anti-microbial/anti-bacterial applications and IFR, etc. is accelearting. Couple that with the vast increases in silver as alternative hard cash currency and the fact that silver is a tiny market compared to gold and it has the potential to easily surpass gold in price from a pure economic demand and supply perspective.
The fact that is the most highly shorted metal as a percentage of inventory and you now have a double rocket booster underneath it.
Disclosure: I'm all in on silver
<a href="http:\\www.duffminster.com\times">Duffminster</a>
Another point to mention, they are only mining silver at nine to ten times the rate of gold. At the very least we should see silver get to that price in frns ratio, on just that fact alone.
Hoard thy silver.
All in indeed.
It will become further skewed.. There is really no correlation with silver to gas..
Silver can rise to the moon and enrich those that know. Gas/Oil however is peak. As it rises it squeezes J6P. $4+ gas in the US = riots.. $5+ = WW3..
Stock up on some popcorn.
While I agree that silver can rise very, very substantially (diminishing supplies and increasing/inelastic demand), I don't exactly agree with you on the effects of $4 and $5 gas. Riots elsewhere - you betcha, they're already happening. Part of the problem is our production of ethanol, using food as fuel and thereby jacking up food prices...but I digress.
$4 gas was the straw that broke the camel's back 2 years ago, it made everyone realize what a Ponzi the real estate market was, and since then much more has been revealed. But no riots, not here, anyway. So long as we have microwave pizza or French fries in our bellies and some crap entertainment on TV (the old bread and circuses, modernized), there will be no riots. War and revolution elsewhere - quite possibly in the former, already occurring in the later case. So then what about $5 gas? More of the same, but no WW3 in my estimation. No, that'd take $7-$10 gas, the point at which maybe 50% of the population cannot afford to go to work, and the point at which petro-based agriculture will stop producing. I would, however, expect that before that point (i.e. closer to $4.50-$5 gas), a group of people from business will come and see Obama and read him the riot act - and we'll end up blowing off a LOT of environmental regs instantly in order to ramp up production of oil, gas and coal. Nuke plants will also start getting permits in large numbers. If this doesn't happen, then we will be headed down the road to riots and WW3.
I know that this is a silver thread, but such scenarios make me glad of my previous investment in copper-plated lead and tubular steel.
I tend to agree with you. However, timing is the issue. Takes years to build Nuke plants and production capacity. People are going to panic real quick.
The gubament cheese cards don't work at the gas pumps... Nor do they pay the electricity or gas bill.. yet...
you tend to forget that the number of unemployed has doubled since gas was over four bucks a gallon last time
now if the gas goes to 4-5 bucks AND theres an NFL lockout, its time to run to the hills buddy
There will be no riots over gas prices as long as the rise is gradual. People in the rest of the world already pay much more for gas than Americans do... you drive smaller cars and deal with it best you can.
Just give me Obama out on his ass with $5 oil and I am one happy camper.
+
Hows that elliott wave target workin out for ya Mr. Nadler?
LOL!!
Elliott Wave 'targets' have failed yet again, to continue a 'full house' 100% failure rate through 2010 into 2011
Robert Prechter has got it wrong so many times he's actually capitulated this month saying he "doesn't know" where the PM's will go (refund all your subscribers then Mr Clueless)
Meanwhile his other equally confused, clueless and calamity clown side-kicks are still putting out their shrill 'Cry Wolf' bear storyline but covering their useless arses with upper limits. Those upper limits have just been pissed on again today as they have been throughout 2010.
Elliott Waves are totally rubbish, so rubbish Prechters crew have to rope in every other technique known to man to try to bailout and prop up their fuking bankrupt wave theory.
Spare a thought for EW subscribers who've spent all 2010 cowering underground in bomb shelters because the EW Team have been screaming the world is about to collapse while eall investors have been grazing on the lush grass in the sun of rising stock indexes and PM prices. EW Subs' have missed the fuking lot while being ripped off paying fees to this hysterical organisation
Elliott Wave is beyond a sick joke (i speak from a years miserable experience of these incompetent frauds)
Somebody should tell Karl Denninger that the deflationary flat-earthism of Prechter et al has finally been laid to rest with $8.00 wheat, $2.00 cotton, $0.30+ sugar and $31 silver (not to mention high food price-related riots across the Middle East). Or is Karl still too busy burning gold in effigy over on his rant-filled blog and gulag of a forum, and praising the timelessness of fiat currency?
Akak
Whilst Prechters elliot waves are a pile of non-working crap i believe his deflationary writings are spot on. We are at historic levels of credit (debt), 300 year highs in fact. And after all such highs economies have suffered from the deflation of such credit (implosion of debt).
The high food and commodity prices (and stocks) are investment money flows much of it leveraged money. When Credit Crunch II arrives all these prices will deflate as fast as after 2007's Credit Crunch I.
TRUE historical examples or actual deflation are rare indeed, and are not even a blip on the inflationary/hyperinflationary/outright collapse record of fiat currencies just in the last century. There is not one true instance of a general deflation under a fiat currency regime, and I for one am not going to hold my breath in anticipation of this time being the very first one.
The values of fiat currencies invariably move in only one direction: down. I don't know why this obvious and universal historical fact is so obscure to so many so-called "educated" economists and academics. Or is it just that it is an inconvenient fact best left ignored and/or suppressed in the furthering of their typically statist agendas?
This is unacceptable for Bernanke & The PD's. He is going to have to engineer a market take down today or in the next few days to try to break the correlation and then he will begin creeping the Dow up to new highs hoping the broken correlation holds. So far he done done it with mild success two times in the past few months.
It certainly is costing more and more each time.
My thoughts exactly. Take down on SLV - nope. Take down on miners - nope. No help from an increase in the dollar. What else could there be? Hmmmmmm.
They've got to stamp down on this hard, it simply won't do to have reports of Silver at post 1980 highs circulating.
My guess is that any mainstream media references to this situation will be laced by reminders about how silver crashed (or was deliberately crashed, depending on your point of view) shortly after reaching it's previous peak. Got to scare the children away with terrifying tales of price crashes before they go out and buy some metal.
Could be, though I wonder how much of an impact Chinese demand is having these days. US media reports aren't going to do much when the Chinese gov't is instructing its citizens to buy physical gold and silver.
I would expect the Chinese couldn't care less what CNBC says, but in terms of supporting the dollar = good, metals = bad story for US public consumption, there needs to be an agreed story to address this situation.
The latest 24/7 reports on China and Asians going G & S nuts, has them by their Uvulas,and they are trapped.
They cannot HIDE the truth, its a BIG news world now, and the MSM is the last place the half way educated go for real truth.
The Interest rates hikes there, are scaring them shiteless.
That silver chart above bears a remarkable resemblance to an Erection. YEAH BABY....
Balls, it has a boner†
and then there are dipos like this.
http://www.kitco.com/charts/liveplatinum.html
When I saw your post contained the word "Kitco" and the phrase "dips like this", I just assumed that you were going to post a photo of Jon Nadler, gold-hating bankster shill extraordinaire.
That silver chart above bears a remarkable resemblance to an Erection. YEAH BABY....
"Oh to live on... Silver Mountain... with the barkers and the colored balloons"
+1000
Quite possibly Neil Young's best song ever!
http://www.youtube.com/watch?v=FsACIBI5NPk
I took advantage of a little decrease in the all milk price out here in Dairyland.
Stocked up on beef. Does that mean I BTFD ?
Nice to see Au keeping it real.
a down day for JPM trading?
Or is the silver position in an Enron SIV?
I am now ready to conquer the world: I have created a Twitter account.
http://twitter.com/#!/TuitterWh0re
I am a Twitter Whore!
I'm sure vagina mouth Anderson will be following you.
Chumba emerges from hibernation loaded for bear. Nice to see you haven't lost a step.
Can I order a bear skin laptop skin? :>)
edit: I am now officially following the great chumba. To the bat cave robin. :>)
Just for you Chumba...
http://aadivaahan.wordpress.com/2010/12/20/twit-twit-2hooo/
Very good --- the first step in resolving a personal problem consists of admitting that you have one.
I remember 3/7/80, the day I joined the Marines.
31.31....31.32....
Silver Data
Excellent. Thanks for the link.
nice work
Is this the "Money Shot?"
Blythe silver shower bukkake bitchez!
I see a storm coming my friends! A warning here to the fiat shorts and bears of the metals today! We're coming for you! Gold and silver nation, unite! Physical metals are the only freedom, the only way! All aboard!
The powers that be will not tolerate the people being correct. Look for false flags/debasements to follow.
The people must be scared..
Lots of peoples on the square in Madison.
You and you're crazy stories, Tyler.
If Silver was hitting a 30 year high, I'm sure CNBC would have mentioned it.
Poor Tyler. Such a pathological liar. Everyone knows it ain't true if it wasn't on CNBC.
And if Ron Paul had significant support in 2008, or in the recent CPAC straw poll, I am sure that FOX News (sic) would have covered it thoroughly and fairly.
CAUTION: Objects in the corporate-controlled media mirror may be significantly different than they appear, while the truth is almost invariably significantly more distant.
31.36.... they aren't going to let this go on without attacking again.. I'm waiting for it..
must buy more Silver with remaining debt coupon dollars....
keep buying until 40...remember the true value is multiples the current fake ass banker paper price....
Israel about to become global battleground in 3, 2, 1...
Let them pummel each other into the goddamn sea... good riddance to a bad headache.
Roy rogers named his horse Silver. I wonder what blythe calls her - http://www.shoptodrop.biz/clothing/product/45-Smooth-Slimline-Lady-Finger-Vibrator-Silver.html
I believe it was Trigger. Silver is the Lone Ranger's horses. Just a little something new I learned today:
"
Why does the Lone Ranger use Silver Bullets?
If you read the Saturday Evening Post article on this site, you'll see that Striker borrowed it from a Robin Hood radio program he'd written where Robin used silver arrowheads to identify himself. Later, a more philosophical reason was given. Silver bullets reminded the Ranger how expensive firing a gun at a man was. Not that this seemed to sway him from firing his gun an awful lot. :) Just not to kill anyone.
Okay, so where did he get all of these bullets?
The Lone Ranger had a silver mine that he and his brother, Dan, had planned on using for their retirement. A retired Texas Ranger (who knew the Ranger's secret) agreed to work it for him and make the silver bullets. The Lone Ranger and Tonto would periodically visit the old Ranger and stock up on bullets and silver to use to buy goods. (This mine would be the basis of the fortune that built the Reid publishing empire in the Green Hornet.)
Note: I have made it the policy of this site not to feature any advertisements. These pages are done solely out of a respect and admiration for the Lone Ranger and all he stands for. I don't think anyone should be making a profit off of them. I don't believe I have the right to profit from the Lone Ranger, either. I hope everybody understands."
http://www.endeavorcomics.com/largent/ranger/faq.html
I found it on the internets though so...who knows.
Not to ruin the gag, but Roy Rogers horse was Trigger; The Lone Ranger's was Silver.
must have had a brain fart as silver went thru $31
Anybody able to get into kitco.com. I can't.
I get prices through smartphone app... working fine now...Got through to the site by clicking direct link to 24hr silver chart in google results, but it was slow.
Try this, you can get it in several increments
http://www.bullionvault.com/gold-price-chart.do
http://www.bloomberg.com/news/2011-02-17/fed-tells-banks-to-stress-test-...
Hope everyone understands that as silver goes parabolic, one day it will be worth zero dollars.That is the day the dollar will be completely worthless. That is why you need to own physical and though I believe in and own silver, I hope you get what that means and how BAD the world will be when that happens.
Would love to see gold & silver go all cotton right now.
Johnny, a year ago I would have said your were boikers, now......
But the current system of corruption, cover ups, and ponzi-nomics is much more comforting? Get real. Bring on the change. Bring on an honest way of accounting. The quicker, the better.
Models and bottles tonight, thank you Blythe http://www.youtube.com/watch?v=pWJozh8CqvY&playnext=1&list=PLB75C52010CE...
Days like this are wonderful, aren't they? A rainy day for the puppetmasters is a beautiful one for us freedom lovers protesting the power of the fiat control grid with our ownership of precious metals. Ah, the feeling of protest mixed with victory is wonderful indeed. I call on anyone and everyone who has not yet exchanged any of their federal reserve notes for physical precious metals to do so today. Join the fight and save yourself from this dying, thrashing beast! Bring it on New World Order! Bring it right the hell on!
Everyone's going physical today as inflation fears plus physical shortages across many commodity classes align with political unrest. All in the context of mental monetary policy.
Lots of tech stocks selling off today, not just Apple. Earnings ain't matchin' expectations.
bought from Monex over a year ago. someone i trust told me to get a safety deposit box at the bank. WTF? why would i trust this idiot, now? because he's related to me. my concern is what to do when the fan is blowing the shit. i don't own a gun. i do have a dog but anyone with a gun could shoot Trooper. very strange times. i think i'll drink.
pour me one...trade u one of my blammers (read:firearms in square talk) for some rounds...
deal. this is about the only deal i can pull the trigger (heheheheh) on these days.
Sprott physical silver PSLV going up +3% (NAV premium +13% according to their website) guess ppl don't trust CRIMEX
to all you silver bulls on zh you awesome!!!!!!
I'm glad I bought 50 maples. I will continue to add to my stockpile...
I think I'll skip the gym today and just do curls with my canvas sacks full of 90% junk. Haha!
Yeah. curls with the monster box. loving those Maples now.
Rip your arm right off, man.
This could be the reason: http://www.cnbc.com/id/41643598
Nope. The reason is physical market cracking the hyper leveraged paper price fixing game. Transition to real price discovery underway.
The U.S. has been sold out. Hu is your daddy?
They're still making deliveries, to dealers anyway.
No WAY, Bernank owes us more than we owe them.
He's shown those damn Chinamens.
31.42...31.44...
Wait for the correction, a big one coming at around $23.00........Gold 1250/1300.
Great time to DCA on the Silver!!
"Animal spirits' BS not working in the direction Ben and the rest of the New Age clowns figured, no ones rushing to stocks, all pile into silver. See what these PHD's dont realize is animals have a strong sense of impending danger and take to high ground long before the tsunami comes in.
Love the analogy. Spot on.
Delivery, DZ. Correct that.
Bast,
I can dig it bro.
But when it starts dropping like a rock, the weak hands will sell physical like sobs.
You will get a shot.
Fortunately I've had my core position for many years. Add a bit every month.
conspicuously absent from the silver threads (today and yesterday) is our old buddy the catfish mouth himself - the robottrader uber bull bear wanna be, who from on high in his los angeles apartment not too far from his mother's basement advised us categorically day before yesterday that not only was there no inflation but that the jpm silver short is a myth.
and that he being a man who puts his money where his catfish mouth is he was going to make his year by playing against us gold and silver fools, including gentleman jim sinclair as he calls him.
btw: gentleman jim sinclair is still smarting from the schooling the old catfish mouth laid on him recently for being a poor, dumb gold and silver bull.
Fear not, as RobotLemming will assuredly be back with his shallow, snarky, puerile one-liner flyby posts blasting gold and silver and pumping his beloved bubble equities, just as soon as he receives new marching orders from JPM and the Fed. Fiat be praised, and tomorrow be damned!
John Nadler says there is no physical silver shortage and it's all an urban myth. For instance Tulving has 500,000 oz available for immediate delivery. That's huge right? Well....it's about 16 million dollars. So basicaly Bill Gates and Warren Buffet could pay for all the availible silver from APMEX, Tulving, California Numismatic, Coast Coin, and Gainesville from what they make in 1 day. If I was them I would do this just to show off my wealth and power and freak people out and cause a panic. I think it would be a good laugh...and probably a good investment to boot.
if 16,000 people dropped a large [ 1000$ ]
and bought physical silver ..
those 500,000 oz would be gone
so 15,999 of you ..go buy silver
bought my kilo today ..have you ??
Wasn't Mathman bragging about his massive Silver put position last week? Here's some math: asymptotic to the zero X-axis, where X is time and Y is put price.
Mathman is probably a woman who can't add.
Excellent......
Bend over Blythe.and :)
http://ecx.images-amazon.com/images/I/213dItxkdKL._SL160_.jpg
1 minute long vid posted over on Max Keixer's site - pretty funny:
http://www.youtube.com/watch?v=VCQ4RMrMJyE&feature=player_embedded
31 fitty???
what???
hows that working bitch - i mean blythe....
What does Bank of Canada know.???
Trading 20 dollars worth of fiat for a 20 dollar .9999 silver coin weighing in around 1/4 ounce
RCM has them but only for Canadian delivery and only 3 per customer.
Wow. I wouldn't try to outthink it. It's a sweet deal. Maybe Canada actually gives a crap about it citizens?
I think there just trying to make more money per oz of silver. 1oz maple for $34.00 or 4 1/4 oz $80.00. On their website there is a limit of three per customer. But they are protected on the downside if you think silver will go down to that level ever again.
The way I was looking at it was:
I'd rather support my government by overpaying for silver with the same face value as the fiat it cost me, than buy Treasuries. Know what I mean?
Gold at only 1384. Why? Because they still have someone's "leased" gold to deliver.
its confusing Golds stagnation today...please expound on ur theory kind sir...
There is a lot of gold held by CBs, KS. They can "lease" it to bullion banks.
. . . and I picture the IMF going around the more distressed central banks of europe prying gold out like a scavenger after teeth on a battlefield.
Could someone please take the all time silver high of $80 then adjust it for inflation and post the results here. I need to multiply that figure by 452 to see if I have enough to buy buy a weed cafe in Amsterdam.
High was $50. Adjusted for the fake CPI data, you get $120 to $150.
I am sad. Not one z-hedger bought one of my shiny new minted Silver AOCS Rounds. I only minted 300 with now 220 left for sale.
In fact, if you say you are from z-hedge I will give you $4.00 off!
true.
http://www.mundogold.com
When the COMEX defaults next month you will have plenty of customers.
Heh. Actually some guys in those little bear costumes will show up at the Comex demanding 25% premiums to settle in cash!!!
While buying as much physical silver as I can, I also have been purchasing random items that you wouldn't think had silver as a component. Doing my part for the destruction of silver on one hand while continuing to accumulate on the other.
Latest purchases:
Kinetic Go Green Premium Nano Silver 7 Piece Food Storage Container SetYes, I make a big meal on sundays and store leftovers in "tupperware" like containers that have embedded particles of silver.
Degree for Men Deodorant With Silver Ion Technology, Cool Impact
Yup, let's just hope silver is not absorbed well thru skin, I really don't want to look like a smurf.
J
Just bought a handfull of pre-64 quarters. Every little bit helps!
Thank God I BTFD, bittcheez...
Charlie Bravo
Beans, bullets and bullion. While there's still time....
THIS SHIT IS GOING HIGHER!!!
Looking at my silver eagles gets me horny...thinking about Blythe bent over my desk...yo babe relax I'll drive...
I wouldn't plug into that bimbo. I think she, like Snooki, is a petri dish of STD's....
Charlie Bravo
Silver to ratio Gold is now 43.84...... But we'll see more dips... What's the next support level?
She's no bimbo -- more like a vicious corporate weasel.
.......no, wolverine: what it doesn't eat it pisses on.....pound for pound one of the nastiest creatures mother nature has created, that would be excluding the folks at GS who eat their own...
Good fit!
thanks tyler and zerohedge! you are absolutely the best publication the world has been given, ever† i appreciate all of the commenters so very much, i have never before in all my life, enjoyed learning, from all of you.
Here comes the raised margin requirements!
Here comes the raised margin requirements!
Just shows they're on the ropes.
ZeroHedge definately one of the very best sites, Kudos. Silver futures volume higher than gold today.
I see 65.8K MAR silver vs 84.5K APR gold, luk.
for those of you who have followed the wynter benton thread at yahoo there is an interesting comment re: signing off.
link?
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stock...
Thank you! It's playing out as they called it.
31.62...31.64...31.63
fuu, I'm seeing 31.50 now and 31.585 HOD, MAR futs.
I don't have access to good futures data at work. I am just watching spot at this point. http://www.kitco.com/charts/livesilver.html
Looks like spot HOD is around 31.68 or 31.69.
march HOD now 31.69, current 31.62.