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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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Spot HOD now 31.79.
It be all figured in!
$1.8060472108 is the total melt value for the 1942-1945 silver nickel on February 17, 2011.
HOD march Si 31.69 -- no doubt the first bank of bumblefuck, the widows and orphans trust fund, and Horseshoe Country Teacher's Retirement Fund have the other side of Blythe's silver hedge by now. It's embedded in some kind of commodity indexed derivative. Totally disclosed that this will give them "exposure" to the commod markets.
yawn
wake me up
when silver hits
40.00$ per oz
Markets can stay overbought longer than you can stay solvent. Looks like this may be "the" classic case for future study!
I am looking at recyclers now as a new front on accumulating the profit in this metal.
Those stupid bears will become legendary!
woooohooo what great news... and it has been dumping pow pow in the cascades and it is my mt bailey cat trip tom...bonnerriffic!
I have spent many years working and living in Asia. Even to this day the average family hoards the same things for their SHTF fund. The big 3 are Gold, Silver, and US DOLLARS!!
Even in China. The more well-off add Land, Real Estate, expensive cognacs and more US DOLLARS. NOT reminbi! When I ask why the response is always the same. It is the only country they trust because the US is the only true democracy in their opinion.
"The more well-off add Land, Real Estate, expensive cognacs and more US DOLLARS. NOT reminbi! When I ask why the response is always the same. It is the only country they trust because the US is the only true democracy in their opinion."
They're a bit naive...
Spot = 31.78
Ooops.
Spoke too soon...
Spot = 31.80
...surprised there has not been more commentary here today on the dramatic action in silver's price.
...am I reading it right, but didn't backwardation disappear today????
Nope. March 2011 is still the highest price
http://www.cmegroup.com/trading/metals/precious/silver.html
That makes $1.08 off the lows today.
Silver up $1.10 right now. I love the smell of Silver Short Sellers burning in the afternoon.
The spot taped in these states united or in angloland has been weighed, measured and found wanting. Premiums for delivery in quantity are going to go nose up and then kick in the after burners. Valuing the precious and gold in fiats be a silly game. One must adjust to trading goods and services by weight. It be coming; hence teach the posterity properly our they will get a rude awakening.
i will not buy any more silver
i will not buy any more silver
continue ...click
choose funding source .....click
review transaction ....click
pay now ....click
i will not buy any more silver
maybe tomorrow ..
i will not buy any more silver..
maybe not..
The only downside I am experiencing right now is that there are no cohorts around me to high-five. Silver investors are few in the US. That is somewhat disenchanting. It would be so much more meaningful if all of our fellow Americans had seen the prudent value in Silver before these recent 30 year highs. Congratulations one and all who successfully foreshadowed these events.
<hi-five>
Belly bump!
Hi-five! Hey, I'm even worse down here in Brazil, I went to the bank to buy some gold and (you can buy physical or paper custodial gold) and the bank manager didn't know that you could buy gold at the bank...(he's probably too young as well back in the 90's everyone was buying gold and US dollars when we had hyperinflation). My friends think I'm crazy when I talk about gold/silver investing...
Interesting article from Jesse's site: http://www.thestreet.com/story/11009124/1/a-chinese-gold-standard.html#
Silver...It should be friggin expensive. It's friggin money again. If you want cheap worthless crap get US Treasuries.
If the goal of the fed-backed PM short-sellers over the years has been to contain metal prices, they have failed, but I think their self-perceived task over the decades-old credit/debt/world U$D extravaganza has been to be ready to kill any sudden, mass, panic flight out of FRNs, debt and equity paper - into PMs, consummables, storable commodities, farm land and survival gear.
And I suspect the post Carter-Mexico panic flight quickly pushing Au to $800 showed them how flimsy public confidence is, and what it is they never want to see again. Just an idea...
If anyone wants a trail to blaze, chart substantially out of the money July calls of the 5 largest North American silver producers versus OI of all other maturities.
For Pan American Silver alone, OI in the July 55 strike is multiples of OI at every other call strike.
Someone please help me here. I have stumbled across this site and enjoy reading the articles. Sometimes I feel stupid because I don't follow the thoughts clearly.
For instance, this silver thread. I am trying to grasp the intent of the comments, but need a better explanation of what's going on and how buying silver can accomplish something.
Now, would someone be kind enough to point me to answers?
Thanks so much.
Gary
Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.
— Norm FranzGary,
Buy all the physical silver you can afford. Store it in a safe place (not a Bank, they cannot be trusted). Watch Silver replace the current colored tree bark we use as money. That's all you really need to know.
Google "silver JP Morgan"