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Silver Passes $30

Tyler Durden's picture


$30 is now history, as spot touches $30.03. Thirty year history in the making and this time no Hunt Brothers were harmed in the making of this price surge.


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Mon, 12/06/2010 - 12:26 | 782142 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Silver is dirty cheap.  Buy some and crush John Pierpont Mourgue's silver shorts.

Mon, 12/06/2010 - 12:30 | 782165 66Sexy
66Sexy's picture

cheap when compared to other metals; and they say theres less silver than gold.... dont know if thats true, but would be nice. 

Mon, 12/06/2010 - 12:31 | 782168 Bring the Gold
Bring the Gold's picture

I feel pretty dirty after bathing in my bathtub full of pre-64 stinky. ;)

Mon, 12/06/2010 - 12:32 | 782174 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No worries it is anti bacterial ;)

Mon, 12/06/2010 - 13:12 | 782376 Double down
Double down's picture


Mon, 12/06/2010 - 12:50 | 782256 flacon
flacon's picture

I boiled mine in a pan with aluminum foil on the bottom and baking soda sprinkled on top. The sulfur ions are deposited onto the aluminum. 

Mon, 12/06/2010 - 13:00 | 782310 h4rdware
h4rdware's picture

I recovered a big bag of Engelhard rounds this way. Picked them up a few yeas ago, very low price due to tarnish. One Al+soda bath later, sparkly.

Mon, 12/06/2010 - 12:35 | 782188 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It sounds like the above ground silver supply in bullion is similar to the tonnage of gold.

Mon, 12/06/2010 - 12:51 | 782259 Turd Ferguson
Turd Ferguson's picture

Kickin ass and takin names, Jimi!

Mon, 12/06/2010 - 12:59 | 782300 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

JP rests in the Mourgue.  Taking names is right.  Blythe must be out of her mind right now, there is no way she gets into the $21-$24 range ever, and it looks like she will not even get below $26.  Ha!

I left you a message on your blog...I started one....check up on it if you know whats good for yas ;)

Same As It Ever Was:

Mon, 12/06/2010 - 13:14 | 782372 Turd Ferguson
Turd Ferguson's picture

I'm following!!!

Looks like Blythe might have seen enough for today and she's putting her foot down.

Gold back to 1416 and silver 29.87 

Mon, 12/06/2010 - 13:40 | 782538 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The movement and velocity of the price action you are so acutely aware of is about to go into warp speed.  Support and resistance levels will be tested only briefly, as those who wish to free PMs from their bonds will be yanking from one side, and Blythe and the other "M"arket "M"anipulators will do everything in their power to hit each stop.  Tug of war; our side has the real advantage ;)

Mon, 12/06/2010 - 14:30 | 782740 MsCreant
MsCreant's picture

We are funny how impatient we are. It only got to 29 and 1400, what, last Friday? Sat & Sunday don't count, so really it has not been over these hurdles very long. Consolidation seems to be a reasonable thing here. That it made an upward push like this and a down seems to be in line with what keeps happening over and over monthly. Higher highs, higher lows. I saved some powder for tomorrow, though I have to laugh at the price of patriotism. If the dip were to go deep enough today, I may just pull the trigger.

Mon, 12/06/2010 - 15:01 | 782848 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Know what you mean; two sides to the volatilty.  

And even though it is twice what it was only a few seemingly short months ago, I can't stop loading up either.

Mon, 12/06/2010 - 14:40 | 782772 midtowng
midtowng's picture

I don't know about private holdings, but most central banks no longer hold silver. More importantly, silver, unlike gold, is consumed.

Mon, 12/06/2010 - 16:45 | 783181 DoChenRollingBearing
DoChenRollingBearing's picture



+ $30!

Even a Rolling Bearing in Peru is happy to see silver at $30.

If you must know, Bearings do not consume silver either.

FYI Peru fans, this country is rocking and rolling!  Peru is the world´s largest producer of silver.

It´s going to be our best year ever selling bearings...

Mon, 12/06/2010 - 13:11 | 782373 Slash
Slash's picture

time for blythe to take it down

Mon, 12/06/2010 - 13:24 | 782447 ReeferMac
ReeferMac's picture

Yep, looks like she works over lunch....

Mon, 12/06/2010 - 12:31 | 782166 Tortfeasor
Tortfeasor's picture

And CNBS is pimping real estate as the must buy asset.  Idiots.

Mon, 12/06/2010 - 12:32 | 782172 Bring the Gold
Bring the Gold's picture

My endgame is to swap the shiny for RE, just not for a few years yet. Read about a farmer in another forum getting mad acreage in fertile farmland for a sizable portion of his stack. I'm not ready yet, but that's the finale for this stacker.

Mon, 12/06/2010 - 12:40 | 782212 yabyum
yabyum's picture

Just saw a add in mother earth news , wanting to trade gold silver and platinum rounds for a small farm....these bug out times are upon us.

Mon, 12/06/2010 - 12:54 | 782277 flacon
flacon's picture

I have the same plan. I'll also want a greenhouse so I can grow food in the winter. 

Mon, 12/06/2010 - 13:03 | 782328 Green Leader
Green Leader's picture

...and sheltered from chemtrails.

Mon, 12/06/2010 - 14:09 | 782629 Bring the Gold
Bring the Gold's picture

The UN just outlawed "Geo-engineering", we all known how sacred and binding UN decisions are. :)

Mon, 12/06/2010 - 12:57 | 782295 the black arrow
the black arrow's picture

Looking to trade mine for 10 acre blueberry farm in southwest Michigan. Maybe sooner than i amticipated. Weeeeeeeeeeeeeeeeeeeeeee go silver

Mon, 12/06/2010 - 13:22 | 782438 samsara
samsara's picture

People talk about cashing out,  YOU have the RIGHT idea.

I said to my family when I bought some that it would only be TRADED for something of equal value (certainly not paper). 

YOU have the EXACT idea I Have.

Congrats friend... Good luck.

Mon, 12/06/2010 - 13:47 | 782564 Rusty Shorts
Rusty Shorts's picture

 - saw an ad on craigslist last week,

         "1987 Ford Ranger, will trade for silver/gold only".

Mon, 12/06/2010 - 12:33 | 782180 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Blackhawk told 'em it had bottomed, Cramer loves him some hanky bernanke in the morning.

Mon, 12/06/2010 - 12:50 | 782238 Turd Ferguson
Turd Ferguson's picture


CNBS? What would you expect?

Mon, 12/06/2010 - 13:05 | 782336 Tortfeasor
Tortfeasor's picture

Turd, you're my favorite SNL clip and new daily appointment reading.  Keep up the good work.

Mon, 12/06/2010 - 13:12 | 782348 Red Neck Repugnicant
Red Neck Repugnicant's picture

Use this opportunity to start scaling out of silver/gold positions.

Sometime in 2011, the Fed will hint at ending QE and that a rise in rates is being considered. Bernanke's interview yesterday was just rhetoric - the equivalent of him showing everyone that he's got bazookas strapped to his shoulders, and isn't afraid to use them. 

Remember March 9th 2009?  What happened?

Out of nowhere, Citigroup announces that it might be profitable for the quarter.  Kaboom!  Every short got decimated and the market went on a bull run that is ongoing, while everyone - EVERYONE - kept saying that a total collapse of the system was/is imminent.  In the meantime, some of the most widely held stocks have doubled, tripled, quadrupled, etc.

Same will happen with gold/silver and the Fed.  Out of nowhere, when you least expect it, some announcement will be made and the PM longs will get killed, as the US $ jumps out of its pants.  People will perceive that moment as the official start of the Great Fed Mop-Up, timed perfectly before the 2012 election cycle begins to heat up.  


Mon, 12/06/2010 - 13:43 | 782551 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If rates are raised the interest on the debt outstanding would bankrupt the US government instantly.  It is not a question of when, even if.  They can not raise rates

Mon, 12/06/2010 - 14:01 | 782607 Red Neck Repugnicant
Red Neck Repugnicant's picture

Hey dumbdumb

It will not bankrupt the United States instantaneously.  That's utterly idiotic, and reeks of gloom/doom nonsense. Despite how provocative it is to talk about the apocalypse, you may want to consider reality when making investment decisions (and landscape plans for your back yard.)

They absolutely can raise rates, and they will. 


Mon, 12/06/2010 - 14:42 | 782781's picture

At current debt levels what rate of interest would have to be reached before the US government could no longer service the debt?

Mon, 12/06/2010 - 14:46 | 782797 MsCreant
MsCreant's picture


Please make your insults more intelligent or at least entertaining. Dumbdumb is very bad form.

There comes a point where you are paying so much interest that most or all of your money is going to service that and little else. You can roll your debt on to the next credit card, but you are so fucked when you need to get yet another credit card to pay the interest that you built up on all your other debt. There comes a time when no one will lend to you at any interest rate.

I watched someone close to me going bankrupt. They did all the things this country is currently doing. They finally borrowed against the house and lost the house, business, their job, their employee's jobs, etc. Lost money bidding on this job to have cash flow to get them to the next job, hoping to make up the difference there just so he could have work for his crews. And so it went. They ate themselves from the inside out. The person it happened to died guilty and broke, his wife died less than a year later, and the son, honestly, is still a broke/broken person to this day.


Mon, 12/06/2010 - 15:05 | 782864 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What she said.

Mon, 12/06/2010 - 15:20 | 782907 CrazyCooter
CrazyCooter's picture

This was covered back in the summer (maybe spring) I think on ZH. At that time (lets call it May) the marketable debt of the US was roughly 8T. The DV01 for this debt was roughly 1B. So ever basis point move in interest is another 1B in interest payments. It was also covered that the blended rate was 3.5%-ish at the time. Just a few years ago, the blended rate was 5.5%-ish. So just a 2% blended rate hike, a return to "normal" rates, would cost an additional 200B in interest annually.

So, tell me, do you really think Benny can pull a Pauly and jack interest up to 15%?

Hell no, thus there is no interest rate hike coming ...



If you really care to reasearch some more regarding your comments...

Mon, 12/06/2010 - 14:01 | 782604 Janice
Janice's picture

High-Ho, High-Ho; 

To sell my silver options I go.

Make some cash, in one mad dash;

Take my cash, add to my stash (of physical).

High-Ho, High-Ho, High-Ho,


Mon, 12/06/2010 - 14:54 | 782826 Kobe Beef
Kobe Beef's picture

Hi Ho Silver, Janice!

"take my cash, add to my stash, High-ho"

Classic. Now I'll be singing this all day.


Mon, 12/06/2010 - 14:43 | 782788 midtowng
midtowng's picture

It's good to have an exit strategy, but your reasoning if flawed. The primary reason gold and silver is going up is because of negative real interest rates. As long as real interest rates are negative the PM bull market will continue.

Mon, 12/06/2010 - 14:49 | 782807 MsCreant
MsCreant's picture

Holding value vs. losing value. I'm in!

Mon, 12/06/2010 - 12:26 | 782145 dryam
dryam's picture

Eat shit....I mean silver, Blythe.

Mon, 12/06/2010 - 16:43 | 783178 Al Gorerhythm
Al Gorerhythm's picture

Blythe to dryam;

One can't eat silver. 

Mon, 12/06/2010 - 21:48 | 784325 StychoKiller
StychoKiller's picture

There was a post some days back that proved that indeed you can eat silver, but it'll turn your skin blue! (Augyria)

Mon, 12/06/2010 - 12:26 | 782150 brian0918
brian0918's picture

$30 was history 30 years ago, as was $40 and $50.... just sayin'....


I like how silver broke $30 and gold $1420 at practically the same time.

Mon, 12/06/2010 - 12:40 | 782213 gwar5
gwar5's picture

That was silver in 1980 dollars. 

Silver would need to hit $83.50 to equal the old highs.

Silver still a buy. Gold needs to take out $2200 to equal the 1980 high.

Inflation never sleeps.

Mon, 12/06/2010 - 12:57 | 782291 VFR
VFR's picture

if you do compare it with 1980 and the ratio holds true we will see gold at $3089.  I think that we will see a ratio of 20:1 with silver at $110. Gold $2,200. But who knows really. The 1980 price was driven through manipulation on the part of the Hunt Brothers, the price now has been held back so long that it could explode. If it does, I expect the US Government to step in to stem JPM losses which otherwise they will claim the US tax payer will have to shoulder. But how can you stem the tide of a world market. Particularly one that recognises the dollar has had it's day. The system of control is broken.

Mon, 12/06/2010 - 13:00 | 782306 unum mountaineer
unum mountaineer's picture

but isn't it funny how by centrally planning you can make it "disappear" much so its not even factored in by folks who otherwise get it?

Mon, 12/06/2010 - 13:24 | 782446 VFR
VFR's picture

We have been told for so long by the powers to be that Gold and Silver are unimportant and yet those same people The US and German Governments hold the most. The dimwit Brit, Brown either believed it or was forced to cover some shorting . It would be interesting to really know. I guess the latter. I can't believe that he was that stupid. I guess though Successive US governments have held onto the gold more out of wonderment (if it is still there) rather than any particular understanding of how money works. Lets face it we have been party to the biggest ponzi scheme on the planet in the history of the world. Short term we have all benefitted. The Russians jumped on the fiat band wagon along with many other emerging nations (China) and now finally Governments scared to death of losing thier wealth (power) are once again starting to accummulate gold. Shame Germany can't get it's gold back from the US.

Mon, 12/06/2010 - 12:26 | 782151 Moric
Moric's picture

On a side note gold is at 1,420.00 you know what that means.

Mon, 12/06/2010 - 12:53 | 782271 ZeroPower
ZeroPower's picture


Mon, 12/06/2010 - 13:10 | 782368 Hearst
Hearst's picture

Bud for Bullion Bitchez!!

Mon, 12/06/2010 - 12:27 | 782152 MichaelNY
MichaelNY's picture

Silver, bitchz.


Had to say it...been reading here a long time and wanted to say hello to the crowd.  Thanks for letting me play along.  Especially TD and friends.

Mon, 12/06/2010 - 12:30 | 782163 Bring the Gold
Bring the Gold's picture

$40 imminent, female dogs with gangsta spellin'!

Mon, 12/06/2010 - 12:29 | 782159 yabyum
yabyum's picture

TURD, PAGING MR. TURD: 1500/oz=pie in da sky? I feel it coming;)

Mon, 12/06/2010 - 12:48 | 782244 Turd Ferguson
Turd Ferguson's picture

We'll see. I got a shot!

$19B in POMO Tue-Thu of this week may get us there.

Mon, 12/06/2010 - 13:00 | 782311 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Blackhawk just gettin' the presses warmed up too!

Mon, 12/06/2010 - 14:48 | 782805 goldfish1
goldfish1's picture

Dr. Turd to you.

Mon, 12/06/2010 - 12:29 | 782160 Id fight Gandhi
Id fight Gandhi's picture

Silver is up 100% this year. Gold ain't. Just saying.

I'd rather hold silver. Easier to sell too.

Even us minted coins are soaring in melt value. Pre 64 half dollars worth close to $11 a coin in silver alone. Very easy to sell too.

Mon, 12/06/2010 - 12:29 | 782164 gwar5
gwar5's picture

Just saw that on Kitco, Silver touched 30.06 and Gold hit 1422. Cool


Mon, 12/06/2010 - 12:34 | 782184 karzai_luver
karzai_luver's picture

silver hammer ........

Mon, 12/06/2010 - 13:15 | 782405 HonestJohn
Mon, 12/06/2010 - 12:32 | 782175 SilverRhino
SilverRhino's picture

Argentum caniculae! .... next stop 33.


Mon, 12/06/2010 - 12:33 | 782177 57-71
57-71's picture

My last purchase at $11.99 seems cheap.

(kicks own ass)

Mon, 12/06/2010 - 12:38 | 782204 Cognitive Dissonance
Cognitive Dissonance's picture

See my comment below. When I was buying in bulk in this range I was hopeing I wasn't making a mistake and they it wouldn't take too many years before I made some money on my large investment.

Hindsight, when correct, is always heart warming. :>)

Mon, 12/06/2010 - 13:56 | 782594 57-71
57-71's picture

True that, I was discussing this with wife last evening.
Remember this purchase and thinking that $20 could be a reality in several years. Ha

Mon, 12/06/2010 - 12:43 | 782221 yabyum
yabyum's picture

I too have bruises, saw it linger @ 19.00 and thought it was a top...screw it Iam heading down to the coin guy.

Mon, 12/06/2010 - 13:15 | 782407 samsara
samsara's picture

Sold my house in 2004, been renting since. 

Ag/Au was $7 and $400   :-)

I feel VERY VERY VERY good today  Yippeeeeeeeeeeeeee

I tried and Tried to convince everyone I knew to do the same thing.

I knew it was going to be over soon. 

I told them "Pull out your 401K (do you really think it will be there when you are 65?)  and put it all in Au/Ag and take the Tax hit then.

Only 2-3 family members did it. 

Some are happy now,  some aren't (you can guess which ones are which)

Viva  ZH !

Mon, 12/06/2010 - 16:48 | 783201 Al Gorerhythm
Al Gorerhythm's picture

my last purchase at 29.80 looks cheap.

Mon, 12/06/2010 - 12:35 | 782179 Kaiser Sousa
Kaiser Sousa's picture

and i like to send a big shot out to all the haters of real money who lacked the humility to bow down to a playa with the shiny stuff n his portfolio....

stay sucka free....

Mon, 12/06/2010 - 12:36 | 782181 centerline
centerline's picture

Looks like its time to grab a few more eagles.  Damn.  Here I was hoping for a decent pull back.  Oh well.  If hyperinflation it is, silver looks to be the ticket.

Mon, 12/06/2010 - 15:52 | 783016 CrazyCooter
CrazyCooter's picture

I started out with silver eagles ... but I did some junk silver recently ... and I found I actually like it better. Its fun looking through all the coins.


Mon, 12/06/2010 - 12:35 | 782186 Cognitive Dissonance
Cognitive Dissonance's picture

I inventoried all my physical Silver over the weekend.


I had forgotten what my blended cost basis was and the fact that most of my purchases were made during the Nov and Dec 2008 dip.

Double Wow!

The funny thing is that I kept hand written notes with all my purchases. Reading them over the weekend one thing stood out. I was happy to see Silver came down, but I was worried it would be a long time before I saw $20 an ounce considering I was buying in bulk in the $10-$12 range.

Talk about a worried Nelly. :>)

Mon, 12/06/2010 - 12:40 | 782210 zot23
zot23's picture

I didn't take as deep a plunge as I probably should have, but I bought some Silver/Gold in the same timeframe (around 2006-08.)  I can't say I've been disappointed in the investment, metals are shooting through the roof.  At least I know my family can eat through the next wave of nasty.

Mon, 12/06/2010 - 12:50 | 782255 Max Hunter
Max Hunter's picture

Here Here... I'm averaged out at about $16/oz for everything I hold.. Happy Happy Joy Joy.. Happy Happy Joy...

Mon, 12/06/2010 - 12:47 | 782240 mark mchugh
mark mchugh's picture

Did you clink it a lot?

Mon, 12/06/2010 - 13:27 | 782460 Cognitive Dissonance
Cognitive Dissonance's picture

Yes I did. :>)

I also pulled out 20 Silver Eagles and slipped two Gold Eagles inside the stack to make a Silver/Gold Oreo sandwich.

The Gold looked so pretty mixed in with the Silver.

Mon, 12/06/2010 - 14:04 | 782614 TheGoodDoctor
TheGoodDoctor's picture

Funny shit CD.

Mon, 12/06/2010 - 13:04 | 782335 oldmoney
oldmoney's picture

Nice, have done the same this weekend, I am a light-weight but  I am still pleased that I started buying mid 2006 (with growing stock trading unease), was a nice time amassing my weight in French 950 silver cutlery (solid spoons and forks and some plates only of course) over the next 2 years and on average paying 35% below metal at that time. Even the maples and philharmonics boxes have already doubled, I was considered a penny-pinching maniac by my close relatives, and still am I guess, maybe they are right in that regard...

In case FOFOA is right I have gold too.

I'm still all for diversification though: 40% in hands-on PM, 50% in SLW and 10% in Peyto.

Mon, 12/06/2010 - 22:22 | 784411 StychoKiller
StychoKiller's picture

Ya can't keep a beachball underwater forever!

Mon, 12/06/2010 - 12:36 | 782189 Timmay
Timmay's picture

Where are people buying physical Silver from?

Mon, 12/06/2010 - 12:39 | 782206 cossack55
cossack55's picture

Try SilverTowne, Winchester, Indiana


If silver were to drop to $0.37 the day after JPM DIED and was BURIED, I would be OK with that.

Mon, 12/06/2010 - 13:05 | 782333 CrazyCooter
CrazyCooter's picture

I just bought 50 face from silvertown (meant to do it over the weekend and got busy).


Just search their site for "20 face" or "10 face" and note the free shipping.


Only bought from them a few times, but the price seems good (FACE_VALUE/1.4 = OUNCES) compared to APMEX, Gainsvillecoins, and some others.



Mon, 12/06/2010 - 13:10 | 782361 mark mchugh
mark mchugh's picture

Some of the places I check out, in no particular order:

They've all got different terms, conditions, fees, shipping etc., so Caveat emptor.


Mon, 12/06/2010 - 22:37 | 784440 StychoKiller
StychoKiller's picture has some interesting silver bars.

Mon, 12/06/2010 - 14:43 | 782784 damnitalready
damnitalready's picture

I did 99.5% of my purchasing (and continue to do so) through Bullion Direct.  Their Nucleo Exchange Marketplace rocks and I've been able to pickup SE's for less than $2.00 over spot, with fees and delivery, on average.  Never more than $2.50 over spot delivered.  The generic buffalo rounds can be had for about $1 over spot, delivered.  I keep looking but haven't really found a better value out there anywhere.



Mon, 12/06/2010 - 12:36 | 782193 Spalding_Smailes
Spalding_Smailes's picture

Funny shit.


by wharfdaddy
on Mon, 12/06/2010 - 11:13


OMG you gotta watch this!

Mon, 12/06/2010 - 12:37 | 782194 Cookie
Cookie's picture


Assange attacked again


Mon, 12/06/2010 - 13:21 | 782436 MsCreant
MsCreant's picture

He'd best shoot his wad and I don't mean into a condom.

Mon, 12/06/2010 - 13:48 | 782563 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Last night I was thinking about how he might be holding it back so the authorities do not arrest him.  Although I would understand this, as he is only a man, it is selfish.  Also, if he has what he says he has (bank docs) it could change the financial landscape and changing the world would give him much more street cred than holding the docs hostage.

Mon, 12/06/2010 - 14:55 | 782830's picture

Again with the "selfish?" If you really believe that people should always do what's in the best interest of others rather than themselves then please send me all your money now.

Don't you realize how perverse it is to insist that individuals should give no thought to their own safety, health and happiness and that of their families?

Mon, 12/06/2010 - 15:16 | 782894 Al Gorerhythm
Al Gorerhythm's picture

I saw a to and fro between you and another guy on another thread, so what's your version about his rationale for him doing what he's doing? Just asking...

Mon, 12/06/2010 - 15:41 | 782980's picture

The well publicized reason for Wikileak's incremental release of documents is that each document is reviewed and the names of individuals who may come to harm if their identities are know are redacted. That takes time.

I wonder how the people who criticise Wikileaks for being too slow in their document releases would feel if I showed up at their workplaces and started demanding that they increase their output a hundred fold. Might go something like this: "What, you only made 6 dozen cheeseburgers for the dinner rush? But there's two hundred pounds of beef in the cooler! The fact that you didn't cook all of it in half and hour proves that you are an Israeli spy!"

Mon, 12/06/2010 - 16:57 | 783243 Al Gorerhythm
Al Gorerhythm's picture

You lost me Crock. I asked what his rationale for releasing the docs was, is all. I'm a supporter of his anarchical expose` of Grimer Worm Tongue politicians, but have little understanding as to why HE proceeded. Is he angry or a businessman or what?

Mon, 12/06/2010 - 12:37 | 782195 ApplesConspiracy
ApplesConspiracy's picture

Dammit, please wait to take off till next month so I can get my 2011 coins.

Mon, 12/06/2010 - 12:37 | 782202 Hook Line and S...
Hook Line and Sphincter's picture

I'm addicted by the desire for justice I see unfolding at Zerohedge. Hope everyone here owns some, this ain't no spectator sport.

Mon, 12/06/2010 - 12:39 | 782205 lynnybee
lynnybee's picture i finally did something right for once in my life !!   i've been screwed every which way til sundown by these damn banksters in my life ...... lost money in the bubble, purchased a condo with all cash at the top of a 300-year real estate bubble...... BLAH !   (damn that GREENSPAN / RUBIN ) ............ but, FINALLY, FINALLY, I DID SOMETHING RIGHT !   I'M LEAVING MY CHILDREN AN INHERITANCE DESPITE OF THESE S.O.B.'S !!!   ......... & it's all because i started reading ZEROHEDGE ......... now i understand what's been going on & what i need to do .........thank you ZEROHEDGE for educating me !!

Mon, 12/06/2010 - 12:49 | 782248 ghostfaceinvestah
ghostfaceinvestah's picture

Agreed, if you had read ZeroHedge since its inception, you would have known this is the only way this could end - with a fiat currency meltdown.  With Bernanke at the helm, there was no other choice.

Mon, 12/06/2010 - 13:52 | 782584 57-71
57-71's picture

How do you see the USD meltdown effect on both Canada and Australia dollars?

Mon, 12/06/2010 - 16:59 | 783267 Al Gorerhythm
Al Gorerhythm's picture

Race to 0. There is no prize for coming first.

Mon, 12/06/2010 - 12:40 | 782209 Alex Lionson
Alex Lionson's picture

Don't you think that Mr. Bernanke is cornered or I am mistaken?

Mon, 12/06/2010 - 12:43 | 782219 Kaiser Sousa
Kaiser Sousa's picture

accdidentally junked u bad was gonna reply

"u mean The Bernank"...

Mon, 12/06/2010 - 12:48 | 782243 Alex Lionson
Alex Lionson's picture

no probs

Mon, 12/06/2010 - 12:55 | 782282 boiow
boiow's picture

unjunk him then.  by junking him again.

Mon, 12/06/2010 - 16:34 | 783140 Hephasteus
Hephasteus's picture

2 junks make a right on zerohedge.

Mon, 12/06/2010 - 12:51 | 782262 rubearish10
rubearish10's picture

You would think that CBS might have focused more on "photo shopping" the Ben Bernank a little better. He looked liked he was gonna cry!

Mon, 12/06/2010 - 12:40 | 782211 johngaltfla
johngaltfla's picture

Is this the time we quote all the "Fast Money" experts who said it was a barbaric relic and useless metal and would make a horrible investment?

You know, like SLW.

Mon, 12/06/2010 - 12:41 | 782214 gwar5
gwar5's picture

Silver Bitchez!

Mon, 12/06/2010 - 12:42 | 782215 ghostfaceinvestah
ghostfaceinvestah's picture

Congrats to all the loyal PM investors here at ZH - your wealth is being preserved in the face of Ben's money printing.

Mon, 12/06/2010 - 12:43 | 782222 What_Me_Worry
What_Me_Worry's picture

Happy $30 silver day!

Tue, 12/07/2010 - 05:22 | 784885 Jendrzejczyk
Jendrzejczyk's picture

We need hats.


Mon, 12/06/2010 - 12:45 | 782230 Hubbs
Hubbs's picture

What a perverse market we have. Bought 325  1 oz Silver Maples 10 days ago from APMEX, bemoaned the high comissions, now seem to have already recouped that. Now almost  hoping that the price can drop through some crooked I can buy some more!

Mon, 12/06/2010 - 12:48 | 782232 Hook Line and S...
Hook Line and Sphincter's picture

Silver will become really valuable when the association of US$ value to it has no significance.

Weak hands beware!

"Silver at what?" 

Mon, 12/06/2010 - 12:46 | 782233 Trifecta Man
Trifecta Man's picture

When the JP Morgue is away, the silver play. (Excuse the French.)

Mon, 12/06/2010 - 12:49 | 782246 moofph
moofph's picture

...hey cnbc producer/editor person, shouldn't the silver ticker you scroll around every now and then be highlighted in blazing hot fiery blood red?...or will you give a grey "nothing to see here" tinge?

Mon, 12/06/2010 - 12:49 | 782251 Turd Ferguson
Turd Ferguson's picture

A beautiful thing.

No celebrating, however, until after 1:30 EST.

Mon, 12/06/2010 - 13:07 | 782353 Kaiser Sousa
Kaiser Sousa's picture

true dat MR. Turd...gotta hold that line to assure we're on our way to the next level...

thanks for the site and the insights...

Mon, 12/06/2010 - 12:49 | 782252 A Nanny Moose
A Nanny Moose's picture

I shoulda "bought the fekking dip"

Mon, 12/06/2010 - 12:51 | 782258 Alex Lionson
Alex Lionson's picture

One more increase in margins? Will it help?

Mon, 12/06/2010 - 12:53 | 782270 unky
unky's picture

please !!! even if it will just last 1 week, i need that time to buy more

Mon, 12/06/2010 - 12:52 | 782268 SilverRhino
SilverRhino's picture

I'm expecting a modification to Comex rules regarding silver on margin here at any time.   Figure it will go to 10K a contract in an effort to shake em out.

Mon, 12/06/2010 - 12:56 | 782287 johngaltfla
johngaltfla's picture

Rhino I would be more shocked if they don't do that. Every time it marches higher, Herr Jamie Dimon orders the margins raised...

Mon, 12/06/2010 - 12:57 | 782285 Hook Line and S...
Hook Line and Sphincter's picture

Gold and silver will break the back of this fraudulent system AS IT WAS MEANT TO BY THE CREATORS OF FIAT (not sure if they were considering oil). Unfortunately, it's also the springboard for launching the same usury once again. Its only fiat thats crashing, PM's are being bought up with this crap paper by the very leprotic hands of those eager to start the party again. Different house, different time, same scam.

These top echelon bankers think in terms of cyclic patterns, not linear.

Do not sell your PHYS PM's for short term paper gains.

Mon, 12/06/2010 - 12:56 | 782290 thetruth
thetruth's picture

when are we going to see a dip so i can buy again?

Mon, 12/06/2010 - 13:01 | 782304 Hook Line and S...
Hook Line and Sphincter's picture

In some ways you see a real (not nominal) dip when the price increase of Gold and Silver aren't going up as fast as usual!

Maybe wait until the price increase is only .5% a day?  ; )

Mon, 12/06/2010 - 13:11 | 782374 thetruth
thetruth's picture

i might as well just buy it now then

Mon, 12/06/2010 - 14:16 | 782650 Hook Line and S...
Hook Line and Sphincter's picture

Depends on your outlook, objective, and willingness to humble yourself by NOT doing what has always the prudent thing to do (buy low sell high). If you are converting FRN's into tangible assets for wealth insurance then do it now. Suck up your must buy the dips, and step on your pride and well trained habit. If you are playing the illustrious capital gains game, all the best on the timing. In a market this corrupt, set aside your chicken bones, tarot cards, technical analysis, and conventional fundamentals. The only way to win in the timing game now is to be the market rigger yourself, which likely you're not.

Sometimes you buy a car because you need immediate transport. Other times you purchase life insurance because you are going skydiving tomorrow. 

Mon, 12/06/2010 - 15:35 | 782957 thetruth
thetruth's picture

thanks for the advice.  confirmed, i am not a market rigger

Mon, 12/06/2010 - 13:01 | 782314 Alex Lionson
Alex Lionson's picture

Hush, hush, please do not scare JPM and HSBC

Mon, 12/06/2010 - 12:59 | 782302 Miramanee
Miramanee's picture

Silver's value/worth in dollars is NOT the issue. The issue, IMO, is that the dollar will eventually give way to an international currency, a hybrid of IMF SDR's. The overwhelming majority of people will have no access to SDR's, and thus will be reduced to trading in silver, gold, labor, food, etc. As such, silver becomes valuable not as it relates to dollars, but as it relates to exchange of goods and services.

Mon, 12/06/2010 - 13:03 | 782325 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The overwhelming majority of people will have no access to SDR's, and thus will be reduced to trading in silver, gold, labor, food, etc. 

The word reduced does not belong.  The SDR will burn with vanity if people move into gold and silver with force.  When paper begets paper the oilgarchs have become extremely desperate.  It will be their last act.  Prepare accordingly.

Mon, 12/06/2010 - 13:04 | 782330 Hook Line and S...
Hook Line and Sphincter's picture

SDR's are denominated in US funBucks, derived by such beauties as the Yen, Euro, n Pound. This is the last thing we want, and the last thing we'll see.

Mon, 12/06/2010 - 13:01 | 782315 Rogerwilco
Rogerwilco's picture

Buy the parabolic blow-off, that's the ticket.

Mon, 12/06/2010 - 13:07 | 782352 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Silver is a gift under $72.  It will trade at $72 per ounce by the Spring solstice.  Then the move to $144 will be where most people get in (the amount of ounces sold will be comparable to where they are now, for example 4 million eagles per month).  The move from $144 to $288 and then to $500 will be the flattener.  Moves in '12 to $1000 and to $2000 will not be unlikely.  Silver is monie.

Buy silver.

Mon, 12/06/2010 - 14:51 | 782813 damnitalready
damnitalready's picture

As much as I hope you're right, I don't think you are.  Care to elaborate where you're getting those ideas from?

BTW, tried to comment on your blog, but have none of the options available for leaving a comment.  Might want to enable the Name/URL option... 

Mon, 12/06/2010 - 16:23 | 783117 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Thanks for the heads up.  I will enable that asap. 

To elaborate, coming into the crisis ('08) I thought gold should be valued at $2500 per.  Then, through the crisis, I think the price action should have moved the price higher.  Right now fair value I have gold at $4200 per.  Using a metric of 16:1 that would put silver at $262.50, currently.  This and the debt jubilee party has only just begun.  Once people pile into physical, which is happening, the move will be parabolic.  By 2013 gold will be at least $15,000 and silver will be $1000.

Mon, 12/06/2010 - 15:07 | 782868 Al Gorerhythm
Al Gorerhythm's picture

Just took 190 1 kg bricks out of JPM's wall. Waiting list, 6 weeks. 6 mth waiting list at 1 dealer who has a 2 ton order to fill in same weight category. $30 .00 is a speed bump. Taking all cash out of bank tomorrow, Dec 7.

Fuck this.

Mon, 12/06/2010 - 13:10 | 782367 SilverRhino
SilverRhino's picture

Care to justify that?  What logical reason actually makes you conclude that this is a parabolic blow off?  

Did the banks and governments return to the rule of law while I wasn't looking?

Serious question as I'd love to hear the other side of this argument.

Mon, 12/06/2010 - 13:33 | 782489 Rogerwilco
Rogerwilco's picture

First off, I own quite a bit of junk silver, it was bought under $5/oz. If you've successfully traded silver over the past year and made some money, good for you. I don't trade, and I don't view PMs as an investment. What I see happening has all the characteristics of a classic blow-off top in many commodities. There is a even a full-page ad this morning in my local newspaper about some gypsies coming to town to buy PMs. All the signs are there, ignore them at you own risk.

Mon, 12/06/2010 - 14:09 | 782626 Rusty Shorts
Rusty Shorts's picture

Roger Roger.

Mon, 12/06/2010 - 13:21 | 782435 mark mchugh
mark mchugh's picture

You do realize we're talking about silver, not Apple, right?

Mon, 12/06/2010 - 13:04 | 782331 Whatta
Whatta's picture

Silver says what?


$30 and humming

Mon, 12/06/2010 - 13:06 | 782350 John McCloy
John McCloy's picture

Priority #1 will shift to supressing silver/gold "real money" by Ben and the cartel from stock market reflation. He keeps trying to walk the line and have it both ways but Gold and Silver are right back to their highs as the Dow is at new highs for the year.

    Maybe Ben & JPM will create another selloff and try again to bring up the indexes without the metals. Should be interesting to watch.

Mon, 12/06/2010 - 13:11 | 782366 unky
unky's picture

small selloff is kicking in right now

dont they dare to let silver pass $30 again. first i want to see it down 10% so i can buy more

Mon, 12/06/2010 - 13:12 | 782379 Kaiser Sousa
Kaiser Sousa's picture

here they come....down from 30.05 to 29.82 like that....

Mon, 12/06/2010 - 13:14 | 782402 dryam
dryam's picture

Buy the dip.  Yes, buy the fucking dip.

Mon, 12/06/2010 - 14:23 | 782702 Hook Line and S...
Hook Line and Sphincter's picture

I did quite a long time ago, a great sour cream with onion and garlic...

The dip is meaning less and less in this increasingly evaporating nominal market. You either have your party hat on or you don't.


Mon, 12/06/2010 - 13:17 | 782411 Lieutenant Dan
Lieutenant Dan's picture

Does anyone think the exchange will get involved with this short? ie They make a statement that all trades from now on will be liquidation only? If that happens, I hope everyone decides to take delivery.

Mon, 12/06/2010 - 13:18 | 782419 johnnymustardseed
johnnymustardseed's picture

I am getting a really nice metal detector for Christmas. Fuck social security, I am going looking for pre 64 coins on the beach!!!

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