This page has been archived and commenting is disabled. Runs Out Of All Precious Metals In Hours

Tyler Durden's picture


Since Zero Hedge posted (unsolicited and uncompensated) the "Crash The JP Morgue" now-viral video late last night , it appears that among the tens of thousands of viewers who have subsequently gone to the website, there have been quite a few conversions. So much so that as of today, the company is not taking any orders and is sold out of all products. The company goes on to say that it will not be accepting any new orders until December 6. We can only hope that the profits JPM will make in its copper market manipulation will be sufficient to offset the ever increasing pain it will experience courtesy of what is gearing up to be a massive margin call.


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Sat, 12/04/2010 - 17:06 | 778437 Azannoth
Azannoth's picture

Good to see that gold/silver is going like hotcakes, and no just because I said cakes does not mean you can eat it :)

Sat, 12/04/2010 - 17:48 | 778511 Turd Ferguson
Turd Ferguson's picture

Good for them! A virtuous cycle...expose JPM, sell more silver , crash JPM.

I 100% applaud and endorse their efforts. Great, great stuff!!!!!

Sat, 12/04/2010 - 17:51 | 778517 Azannoth
Azannoth's picture

You'd be naive to think they would go under just by getting short squeezed, we need start trading with gold/silver not just bury it in the back yard

Sat, 12/04/2010 - 18:33 | 778575 Turd Ferguson
Turd Ferguson's picture

I have a feeling that a squeeze of JPM is more likely in the short term vs a return to gold/silver/barter. Just sayin. I am naive, however, most of the time.

Sat, 12/04/2010 - 19:11 | 778615 MarketTruth
MarketTruth's picture

Dealers WITH gold and silver inventory include:

Am not associated with them, etc, just letting others here know there are highly reputable dealers still with inventory that needs to be sold. Go get 'em ZH'ers!

Sat, 12/04/2010 - 19:20 | 778630 Joe Sixpack
Joe Sixpack's picture

I've been following 10 ozt. bars on Apmex, and they are very low rights now ( ). I've also tracked 1 ozt. gold govt. issue coins, but they are not currently short there.


As a side note, Apmex recently changed their banking to JP Morgan.

Sun, 12/05/2010 - 08:22 | 779307 MarketTruth
MarketTruth's picture

Thanks for the update and of course avoid JPM. Gainesville Coin uses Sunbank.


Sat, 12/04/2010 - 20:15 | 778698 homersimpson
homersimpson's picture

Typical lib speak. Always trying to justify their money printing habits while talking down gold. Guess what - it ain't working.

Sun, 12/05/2010 - 03:50 | 779193 JLee2027
JLee2027's picture


Deficit responsibility lol! 

Deficit responsibility on a non-Gold standard has never happened in human history.

Sun, 12/05/2010 - 05:33 | 779252 Dismal Scientist
Dismal Scientist's picture

Don't waste your breath, Homer. RNR comes to this site (and most likely others), looking to wind people up, thats his 'troll style'. He's quite good at it too, judging by the number of junks.

You can either ignore him (starve the beast of oxygen), or get pulled into a skirmish. Choice is yours...

Sat, 12/04/2010 - 20:16 | 778701 Double.Eagle.Gold
Double.Eagle.Gold's picture

Put your wealth where you thinking is,

Buy DZZ, report back in 30 days.

Sun, 12/05/2010 - 13:40 | 779595 gmrpeabody
gmrpeabody's picture


"Now we're moving into a period of fiscal clean-up and deficit responsibility, which will be bearish on gold/silver prices."

Too frinkin funny. Why does he continue to post?

Sun, 12/05/2010 - 14:21 | 779674 SRV - ES339
SRV - ES339's picture


"The Dolt Brothers" (Boehner and Cantor) first (and only) priority is to add $400B to the deficit to give a tax cuts to billionaires... they thumb their noses at 98% of the population with impunity... they have sold their souls to an oligarchy (who of course is funding the "grassroots" Tea Party) that will keep them in power as long as they continue to represent them in the continued fiscal rape of the masses.

America deserves what's coming... really, how can so many be so blind?

Sun, 12/05/2010 - 14:29 | 779689 -Michelle-
-Michelle-'s picture

Allowing people to keep more of their own money does not add to the deficit, no matter how rich or poor those people are.  Spending more money than you make is what adds to the deficit.

Sun, 12/05/2010 - 15:32 | 779812 Bring the Gold
Bring the Gold's picture

Cutting the tax base does actually increase the deficit when you have interest on the debt.

Higher taxes aren't the answer, but tax cuts for billionaires certainly isn't either. Time to end the welfare/warfare state.

Get sucked into partisanship if you love the direction of the country for the past couple of decades. You know straight into a sewage treatment plant, sans treatment.

Sun, 12/05/2010 - 16:17 | 779886 DosZap
DosZap's picture

Tax cuts?.

No,not CUTS,  leaving them where they have been for 10yrs.

Raising taxes in this economy is INSANE.

Maybe you should check w/ QE 3, now being proposed by Burning Brenake,as he passes out 9 Trillion more to anyone , and everyone except POOR Americans.

Get out of the LIBERAL TREE.

Sun, 12/05/2010 - 17:45 | 780035 SRV - ES339
SRV - ES339's picture

The Bush tax cuts expire this month.

CUTTING the tax rate for 98% of American taxpayers (and not the top 2%) was a major plank in the Obama 2008 campaign... if memory serves me well, he won by a comfortable margin.

Get out of the LIBERAL TREE

That's right, villify anyone who actually cares for the less fortunate, and doesn't in join the Faux News gang (and their mindless followers) in their pathetic bashing and branding of the poor as lazy freeloaders.

And yes, I am a proud Progressive (the name has been changed... four more letters to confuse Tea Party sign artists... lol).

Sun, 12/05/2010 - 20:07 | 780276 Hugh_Jorgan
Hugh_Jorgan's picture

Time to give up the Liberal Keynesian Kool-Aid SRV. This is one of the most pervasive fallacies in the Democrat class-warfare playbook. Soak the rich? Have you ever worked for a poor person? Even JFK understood this one.

1. If I may, the Hauser rule:

No matter how high the top marginal rates are, the revenue comes in at 18-20% of GDP, this is a fact. I know Progressives like to "create" their own truth, but sadly reality is not optional. Incidentally, the all time peak of tax revenue (20.5%) was during the George W. Bush Presidency shortly after his tax cuts. Hmm, that's wierd?!

2. 70% of all jobs in America are created by Small Business Owners. The majority of these companies are sub-chapter S, LLCs, "Doing Busines-As", etc. who FILE THEIR TAXES ON A PERSONAL 1040! Got it?! Most of these 1040s will show a taxable income well above >$250K/yr.

So, if you want to kill more jobs, do what the bigger idiots in the Democrat party want and don't keep the Bush tax cuts in place for everyone.

It's time to stop spending and waste, not pour water on the fire of the economy.

BTW this article is not about taxes, so find someplace more appropriate to do your drooling, please.



Sun, 12/05/2010 - 21:00 | 780558 Red Neck Repugnicant
Red Neck Repugnicant's picture

It is instantaneously obvious that you have absolutely no knowledge of what you've attempted to talk about.

Zip. Zero. Zilch.

For example, can you explain to me the average individual gross income in 2000 versus 07/08/09, and how the Bush tax cuts factors into that comparison? 

Additionally, which year were tax revenues the highest?  What is the relationship between that particular year and the fact that everyone in the United States had an ATM card with a picture of their house on it?

Just curious...


Mon, 12/06/2010 - 00:44 | 781218 SRV - ES339
SRV - ES339's picture

Dear Hugh,

I'd love to debate the insightful arguments you make in your comment, but you obviously have your head so far up Glenn's ass (that and the fact you have no idea what you're talking about) it would just be a waste of time and effort... I simply wouldn't know where to start.


Sun, 12/05/2010 - 21:11 | 780608 tmosley
tmosley's picture

It's a big world out there.  You need not leave the liberal loony bin for the other "angry" liberal loony bin (the neoconservative Republican party).  There are plenty of other options.  Anything is better than where you are now, or the place you don't want to join.

Sat, 12/04/2010 - 20:50 | 778736 Fred Hayek
Fred Hayek's picture

That would be the period of deficit responsibility kicked off by the Simpson/Bowles commission being unable to agree on even a measly 5% cut in gov't spending?  That one?

Sorry man, but they, apparently, gave you the placebo instead of a dose of the real stuff when they convinced you that austerity is here.  You shouldn't go around handing out your extra sugar pills to strangers and representing them as the real thing.


Sat, 12/04/2010 - 20:50 | 778738 Max Hunter
Max Hunter's picture

Sorry about the dose of reality.     

Your dose of reality is about as useful as a screen door on a submarine..

I'd take the risk/reward on gold and silver today over anything a shill like you may suggest.

Politicians saving their jobs with austerity. LMAO that's a good one..

Sat, 12/04/2010 - 21:10 | 778762 What_Me_Worry
What_Me_Worry's picture

When the USG slashes budgets by 20%+ across the board, I will sign on to your theory.  Even wage freezes doesn't really mean no pay increases.  Benefit costs are still increasing.

You, sir or madam, are clearly a liberal.

Sun, 12/05/2010 - 03:53 | 779196 JLee2027
JLee2027's picture

You mean a 50% cut.

Revenue 2.57 trillion (estimated)

Spending 3.87 trillion (estimated - because they never passed a budget...)

Sat, 12/04/2010 - 21:17 | 778770 JonNadler
JonNadler's picture

Now we're moving into a period of fiscal clean-up and deficit responsibility, which will be bearish on gold/silver prices. 


I agree! I endorse your point of view unreservedly! How much it will scare the gold bugs am not sure, since it's utterly ridiculous, but I support your effort!

Sat, 12/04/2010 - 22:08 | 778844 geminiRX
geminiRX's picture

You have a poor PM track record...

Sat, 12/04/2010 - 22:43 | 778883 Sancho Ponzi
Sancho Ponzi's picture

That's RobotTrader's avatar, but the username is JonNadler. 

Sun, 12/05/2010 - 03:56 | 779198 JLee2027
JLee2027's picture's the Bizarro world version of JonNadler.

Sun, 12/05/2010 - 03:43 | 779186 DoChenRollingBearing
DoChenRollingBearing's picture

@ JonNadler

Whatever you do, do NOT buy physical gold, silver, platinum or palladium!

Au to $0.02

Ag to $0.01

Pt to $0.03

Pd to $0.015

NO, NO, NO re buying physical PMs.  (Please wait until I come back from Peru before running up the prices more, thx mucho...).

And besides you can't eat it!  Gold is in a wedgie!  Look out for that Head & Shoulders!!

[Yo, JN, will Jamie cut me a check for jumping the shark?]

 /weak sarcasm.  LOLOLOL!  [Downing his last drink of the evening...]

Sun, 12/05/2010 - 11:19 | 779422 JonNadler
JonNadler's picture

DoChen, keep it up and you will start getting a check from the JP Morgue. I have to watch out here with all your knowledge of PM's and my being totally discredited, you might seem a good replacement to be JP M's  primary   Pm basher!

Jamie, please, am better than he is, after all I coined the phrase "you can't eat gold"

Sat, 12/04/2010 - 21:28 | 778776 BenFranklinJr
BenFranklinJr's picture

Pardon, but did the Bernank suddenly stop printing dollars while I was away from my computer?

Sat, 12/04/2010 - 22:25 | 778865 trav7777
trav7777's picture

then the USG will default. 

By the way, you jackasses, gold production peaked in 2001...the fuckin bull run is being driven by basic supply/demand dynamics, not a bunch of madmaxers on the gd'd internet.

Sat, 12/04/2010 - 23:47 | 778963 Stock-Paper-Silver
Stock-Paper-Silver's picture


Sun, 12/05/2010 - 00:53 | 779023 Red Neck Repugnicant
Red Neck Repugnicant's picture


Not exactly.

The bull run began in 2001 when production peaked - he is right about that. 

But the parabolic move in the past 2/3 years has been driven by unprecedented chaos in the world financial system. Massive hedging and speculation by banks, hedge funds, governments and every individual that felt the world wobble off its axis in 08/09 (US)/10(europe) is the true reason for the parabolic move in gold/silver. 

It was/is a historical time of uncertainty and fear - but it will subside, as all chaotic moments in history do. As fear wanes, speculation will fade, demand will fade, and price will fade.

To deny the role of speculation and hedging in the price of gold over the past 3 years is to miss an enormous variable in the supply/demand equation. That massive speculation and hedging will meaningfully unwind, and the price will drift back to reality. 

There will be two themes for the 2012 election:  deficits (austerity) and employment.  Any indication that those three will be tackled in any meaningful way, and the chaos hedge will begin to unwind.


Sun, 12/05/2010 - 00:57 | 779036 tmosley
tmosley's picture

How's the weather in fantasyland?

Sun, 12/05/2010 - 01:27 | 779064 Red Neck Repugnicant
Red Neck Repugnicant's picture

Wonderful.  We've been meaning to call, but we spent the day at the beach and riding jet skis.

I would let you talk to your wife, but I think I might have made her mouth pregnant. She says she'll try to call tomorrow (if she can).

2 more days of fun in the sun!  We'll see you Monday!  Keep working hard!


Sun, 12/05/2010 - 03:59 | 779201 JLee2027
JLee2027's picture
Showing your true liberal stripes I see.
Sun, 12/05/2010 - 13:51 | 779617 gmrpeabody
gmrpeabody's picture


Sun, 12/05/2010 - 02:18 | 779130 hamstercheese
hamstercheese's picture

I don't believe it will subside...the increasing debt requirement inherent in the western monetary systems have been sustained via accelerated real economic growth fueled by cheap oil.  When you try to bandaid debt problems with more debt while economies are contracting in productive terms and the low fruit is gone from the energy tree things will move exponentially in the other direction.  This is what is happening.  Think about it, two years ago we had private debt bombs going off, now we have govermental bombs ready to explode.  Nations, states, munis...western thinking and western investors are not driving the precious metals markets...its the other side of the world, with most of the population.  This is a historic shift of influence happening right before our eyes.  Western currency is all backed by debt, and the debt stinks more and more each day as it continues to rot.

Sun, 12/05/2010 - 04:01 | 779204 JLee2027
JLee2027's picture

Eastern countries are fiat as well.

I don't see any significant shift in power...they still import food and can't control little things like malaria over there in the "East".  

Sun, 12/05/2010 - 02:26 | 779132 Stock-Paper-Silver
Stock-Paper-Silver's picture

In the period in which you speak gold went from $800 to $1400. In the previous period of the same duration gold went from $400 to $900 (during the height of real estate speculation), clearly there are other forces at play other than the recent evil PM "speculation".


Sun, 12/05/2010 - 16:27 | 779904 DosZap
DosZap's picture


And, do you think American politics touting this SO called austerity BS  will affect the Red Chinese, Asians, and Indians, and Rooskies,CB's, and other country on this TEAR?,to load up on PM's while we have printed enough fiat to last a 100yrs?.

Europe is doing the same, and no Austerity program is going to scare the Strong Hands.Face it, we are on a HARD asset worldwide race and its not going to stop for quite awhile.

Plus, we all KNOW how well the Congress, and Gv't have followed their own laws and in never.

Pipe dreams and fairy tales have gone the way of the tooth fairy.

Sat, 12/04/2010 - 22:39 | 778877 clickjaw
clickjaw's picture

Exponentially devaluing, meaningless pieces of paper, bitchez!

Sat, 12/04/2010 - 23:03 | 778909 Blano
Blano's picture

Your comments about deficit responsibility and fiscal cleanup are even more ignorant than your usual troll posts.  I didn't think that was possible.

Sun, 12/05/2010 - 00:08 | 778980 Jasper M
Jasper M's picture

It . . . pains me to say this . . . (really, really pains me), but I suspect RNR is closer to correct  than not here. The unusual gold:silver ratio cited could just as easily mean revert in the other direction.

Money where my mouth is: Selling Gold on Monday. . 

Sun, 12/05/2010 - 19:50 | 779412 chopper read
chopper read's picture

i disagree.  i would not do that if i were you.


Sun, 12/05/2010 - 00:14 | 778984 Jasper M
Jasper M's picture

It . . . pains me to say this . . . (really, really pains me), but I suspect RNR is closer to correct  than not here. The unusual gold:silver ratio cited could just as easily mean revert in the other direction.

Money where my mouth is: Selling Gold on Monday. . 

Sun, 12/05/2010 - 00:38 | 779011 tmosley
tmosley's picture

Right, because they're not making any more dollars, but the gold is just pouring off the presses.

Oh wait, it's the other way around isn't it?

You go ahead and sell your gold.  Everyone gets what they deserve by way of their actions.

Sun, 12/05/2010 - 19:51 | 779413 chopper read
chopper read's picture

as is very often the case, i completely agree with you, tmosley.


Sun, 12/05/2010 - 05:01 | 779238 Tapeworm
Tapeworm's picture

You give absolutely no evidence on your position.

At least I can point out that both gold and especially silver are at purchasing power peaks right now. Run a few charts on just about anything with Au or Ag as the denominator. Is this ratio supportable?

 I don't know. Au/Ag are discounting some very bad outcomes. Ag is another animal itself.

 I will claim that it is in a severe bubble based upon purchasing power. Folks that buy at the hedge fund leveraged price now will get gutted. Buy my sludge, please.

 Please do look at the metals prices based upon New York time.

 All of the fables on how China is buying and whatever is going on in the Au/Ag must look to the hedge funds of NY to see where all of the price movement originates.




Sun, 12/05/2010 - 06:13 | 779265 Tapeworm
Tapeworm's picture

You give absolutely no evidence on your position.

At least I can point out that both gold and especially silver are at purchasing power peaks right now. Run a few charts on just about anything with Au or Ag as the denominator. Is this ratio supportable?

 I don't know. Au/Ag are discounting some very bad outcomes. Ag is another animal itself.

 I will claim that it is in a severe bubble based upon purchasing power. Folks that buy at the hedge fund leveraged price now will get gutted. Buy my sludge, please.

 Please do look at the metals prices based upon New York time.

 All of the fables on how China is buying PM and whatever is going on in the Au/Ag must look to the hedge funds of NY to see where all of the price movement originates.

 For those that are Gaga on slAg, have a look at just about every commodity and equity index with $silv as the denominator. Do any of those charts make you feel as though right here right now is a good point to forego foodstuffs comedies for artificially jacked silver?

 If you have silver to back the trade, I'd suggest shorting silver against some select agricultural commodities. Silver is vastly overpriced at this time in purchasing power parity. against your basics and even luxuries.




Sun, 12/05/2010 - 14:19 | 779669 tmosley
tmosley's picture

No other commodity features consumption of a 5000 year old stockpile as a factor in it's price.  That stockpile is all but gone, and we are still using 40-50% more than we produce.  This does NOT point to a lower price in terms of ANYTHING.

Silver is the trade of the millennium.

But hey, you do what you want, I'll do what I want, and we'll both get what we deserve.

Sun, 12/05/2010 - 15:49 | 779842 BrosMacManus
BrosMacManus's picture

Not presenting support for RNR's or Tapeworm's positions, but on the premise that Ag is a store of value, why does one silver quarter purchase more in gas now than it did when silver currency was still in circulation? Using 1964 as the base, gasoline went for about one 1964 quarter, while the current silver content of that quarter is now over $5. Is gas undervalued, or is silver overvalued? The only conclusion I can come to is that the supply/demand dynamics associated with commodities is behind this Ag recent run up, but not as a result of its actual industrial use, which is only up nominally. That leaves us with what, financial engineering, shenanigans, hoarding, speculation?



Sun, 12/05/2010 - 17:31 | 780012 tmosley
tmosley's picture

You speak of value as if it were constant.  This is obviously not the case, or prices would never vary.

The reason silve buys more is because there is less silver.  In reality, there is MUCH less silver, so you can expect its purchasing power to continue to rise.

Sun, 12/05/2010 - 19:54 | 780305 chopper read
chopper read's picture

the same could probably be said for oil, as there has been no efforts to ration it.  as a result we are running towards a similar cliff in the same way as with silver supplies. 

Sun, 12/05/2010 - 21:18 | 780633 tmosley
tmosley's picture

NOT the same, by any means.  Practically all oil extracted from the ground is burned or converted to something else (plastics, etc) within a year.  There was never a real stockpile.  Just tiny ones that are kept for "national security" reasons.  We have been using as much as we extract ever since we began extraction.  Silver is a different beast.

This is fully separate from any form of peak oil argument.  I am not saying that there won't be any oil price shocks in the future, but that the price shock of silver will be the greatest ever seen by man.  It will take decades for production to reach the point where mine production can supply what the worldwide stockpiles have been supplying thus far.

Mon, 12/06/2010 - 03:32 | 781420 chopper read
chopper read's picture

my viewpoint was in response to the previous comment comparing gas prices to silver prices.  neither market currently reflects the true scarcity of the underlying commodity as much as they will someday in the future. 

of course, silver has its uses, but it is also recyclable and, in the case of coinage, it has substitutes. Other metals can serve equally well as intermediate stores of value.  For this reason, as you know, silver is not the only show in town, but it is clearly one of them.  

a more accurate valuation model may wish to include all significant metals collectively, as they all have their uses that far exceed the green-inked cotton or paper of any color.

Sun, 12/05/2010 - 13:00 | 779540 Bolweevil
Bolweevil's picture

Congratulations! I gave you junk40 just for posterity. Keep coming back.

Sat, 12/04/2010 - 22:05 | 778838 geminiRX
geminiRX's picture

Buy direct from a mining co:



Sun, 12/05/2010 - 01:00 | 779040 jeff montanye
jeff montanye's picture

you people like the price movement of bullion silver over the past six months or so? check out the price chart of the miner cited above, first majestic silver (ticker frmsf).

Sun, 12/05/2010 - 16:41 | 779928 DosZap
DosZap's picture

Their prices are not special, esp if you live in the US.

No 100oz bars, and customs, and shipping would kill you.

At a $4-$5oz cost+/-,they are making a killing.

Sun, 12/05/2010 - 15:09 | 779771 DosZap
DosZap's picture


Reasonable Prems, and usually have it.

Sat, 12/04/2010 - 19:29 | 778637 Red Neck Repugnicant
Red Neck Repugnicant's picture

I am naive, however, most of the time

Well, there's something we can finally agree on.

As soon as you start seeing cartoons on YouTube offering insider information, you sell. It's the modern day equivalent of the shoeshine boy.

Why would sell you an asset if they truly believed it was going to get squeezed into the cosmos?  If it were true, it would be more profitable to hold their inventory, not sell it.

It's a great sales pitch with very convincing threads of truth; but, in the end, you're being sold a product at record high prices. 

As far as crushing JPM in a short squeeze....   don't bet the devil your head.

Sat, 12/04/2010 - 19:34 | 778648 tmosley
tmosley's picture

You're right.  I don't trust grocery stores either.  All the stuff they are selling is sure to fall in value, or else they wouldn't be selling it!

OR they are hedged and make money of the spread, like everyone else who does any sort of business dealing with things that experience price volatility.

But hey, whatever you think.  Short away, shine boy.  You'll get what you deserve.

Sat, 12/04/2010 - 20:18 | 778702 Red Neck Repugnicant
Red Neck Repugnicant's picture

You're right.  I don't trust grocery stores either.  All the stuff they are selling is sure to fall in value, or else they wouldn't be selling it!

That's one of the worst examples of sarcasm ever posted on the internet, because the entire inventory of a grocery store does fall in value.  I'm sure you find most your food at the local PetsMart, so perhaps you're not as aware of expiration dates, but your grocery store analogy is as dumb as a football bat. 

OR they are hedged and make money of the spread...

Of course they're hedged, and of course they can make money on it.  But that particular YouTube video was calling for an out-of-this-cosmos squeeze which, if true, would be infinitely more profitable than making money on the juice or spreads. Their message was clear:  silver is going to jump over the moon (and soon).  If so, those hedges are nothing but pennies, comparatively. 

Why do you continually fall on your face every time you make a post? If I've got questions about tartar control AquaFresh, I'll ask you.  Otherwise, please refrain from embarrassing yourself further.

Sat, 12/04/2010 - 20:27 | 778714 tmosley
tmosley's picture

You notice that you are the one getting all the junks here, not me.  Why don't you go back to the Obama forums and have a big circlejerk over there about how stupid we are over here at Zerohedge, where we have been proven right every time, but, well, we're just stupid for thinking anything other than what we are told to think.

You are fully ignorant in everything you have ever said.  I showed you what I do, but you still call me a "toothpaste researcher", which is ignorant beyond description. 

But seriously, short silver.  I want to see trash like you destitute on the streets, just the way your ideology has impoverished this nation.

Sat, 12/04/2010 - 21:46 | 778800 Red Neck Repugnicant
Red Neck Repugnicant's picture

I've made my thoughts on gold/silver clear:  Beware!  Markets lure you into a false sense of security, then violently reverse in the direction of the most damage.  Every time.  

But, of course, you freaks will never believe that, so let's talk about something endlessly more fascinating:  you, tmosley.

If particle physicists at the Hadron Collider in Geneva took your DNA and smashed it against a bag of douche, I'm fairly certain the laws of quantum mechanics would instantaneously place you on the top shelf of the feminine hygene isle at WalMart.  Douche bag.

Secondly, we need some clarity on your career: 

You sold a product to an orthodontic group that helps remove plaque off teeth.  In my book, that puts you in the same box as an Aqua-Fresh sales representative. 

Please stop trying to pretend to have the cure for cancer and HIV.  If you did, you wouldn't be selling tartar control chemicals for teenagers. stupid we are over here at Zerohedge, where we have been proven right every time..

Actually, the vast majority of forum members have been hiding under their beds for the past year waiting for German blimps to fall out of the sky, and for the entire financial system to implode. To the forum's credit, you definitely got the gold trade right. But the collective whole got everything else wrong.

Lastly, the fact that I get junked by a bunch of hyper-paranoid wingnuts with more green beans in their back yard than the Jolly Green Giant means absolutely nothing to me.

Sat, 12/04/2010 - 22:00 | 778826 boiow
boiow's picture

how the fuck did you get past captcha

Sat, 12/04/2010 - 22:48 | 778893 Sancho Ponzi
Sancho Ponzi's picture

RNR never offers solutions, nor does he contribute anything of value to this forum. He simply criticizes and attempts to discredit. I'd be willing to bet he contributes nothing valuable to society as well, so just ignore him. 

Sat, 12/04/2010 - 22:05 | 778840 Black Friday
Black Friday's picture

Firstly, I find your perspective is purely American based, the world is no longer waiting for America to resolve its issues and has moved on, becoming fiscally responsible will not make that go away and fiscal responsibility is a pipe dream if you are relying on the gov to provide it.

Secondly, your concept of business is appalling, to suggest that a bullion dealer could just hold its stock without risk of a downward move, and without relying on capitol flows to keep them in business and help expand their inventory and market. Otherwise, it would not be a business, but an investor. Who stays in business by sitting on their stock while hoping for an indeterminate price move in an undetermined time frame?

Thirdly, countries are not only dumping treasuries and dealing directly in local currencies, they are hoarding gold and hiding the amounts as well as tightening exports on rare metals. The USD is holding on by a thread and the fed has to resort to devaluation. And what part about QE2 did you not understand? Do you think it was because we are in a recovery that they resorted to measures of last resort?

Lastly, you get junked because you make no sense, if you had sound arguments, you would get debated, not junked(well, not to the same level) and your comments suggest that these Jolly green giant bean growers mean something, otherwise you would be out on this fine Saturday night.


Sat, 12/04/2010 - 22:40 | 778880 Red Neck Repugnicant
Red Neck Repugnicant's picture

your concept of business is appalling, to suggest that a bullion dealer could just hold its stock without risk of a downward move, and without relying on capitol flows to keep them in business and help expand their inventory and market. Otherwise, it would not be a business, but an investor. Who stays in business by sitting on their stock while hoping for an indeterminate price move in an undetermined time frame?

Sure, I absolutely agree with you under normal circumstances: no business should just sit on inventory, as if they were investors.  All businesses need to turn inventory and create cash flow.  Buy low.  Sell higher.  Blah. Blah Blah.

But that wasn't the message of the video.  The video was supposedly giving inside information, suggesting silver would become (imminently) nearly impossible to buy, currencies were going to collapse, and the price of silver was going to rocket into outer space, due to a unique short-squeeze at JPM.  That was the message, and in that particular scenario -  if they truly believed what they were saying -  they would hoard every ounce of silver they could find. 

They wouldn't be selling it.     

Sat, 12/04/2010 - 23:09 | 778914 Turd Ferguson
Turd Ferguson's picture


BRAVO, COLONEL, BRAVO!!!!!! (pun intended)

Sat, 12/04/2010 - 22:53 | 778901 Black Friday
Black Friday's picture

Again, the problem is one of capital. That is a business, maybe one set up with loans. They need to maintain an income stream. Even if they believe what they are saying, they do not know when a price move would happen. In the mean time, they can use the profits from sales to accumulate silver or gold and acquire more.

Sat, 12/04/2010 - 22:55 | 778902 tmosley
tmosley's picture

You aren't very smart.

The "insider information" is an open secret, and everyone who reads and understands the articles here at Zerohedge (or God forbid, GATA) has known about it for months or years.

Why are you here?  You obviously think you are smarter than anyone here.  We're all a bunch a crazies, right?  Why bother with us?  All you do is insult people for no real reason other than the fact that you perceive that they disagree with your ideology (and therefore you perceive that they must be of the particular ideology that you think is the only alternative).  You are never going to change any minds that way.  You don't put forward any genuine thoughts of your own.  You are not a teacher, or a debater, but just an insulter.  As such, there is no legitimate reason for you to remain.  Go to 4chan instead.  I'm sure you will make a fine /b/tard.

Sun, 12/05/2010 - 16:48 | 779932 akak
akak's picture

As usual for you, TMosley, well said!

It is always both amusing and pathetic to see intellectually bankrupt losers such as RedNeckRepugnicant tying to troll away their insecurity and desperation in the face of a world which repudiates their failed ideologies on a daily basis.

Sun, 12/05/2010 - 03:25 | 779171 dogbreath
dogbreath's picture

even a crack dealer can only smoke so much of their profit before they smoke their capital or wind up paying for it from their supplier.

Sat, 12/04/2010 - 22:33 | 778870 tmosley
tmosley's picture

Feel free to leave then.  We're all a bunch of crazies.  What do you have to gain here?  Obviously we are all liars (I love how you apparently never went to the website I generously provided you with illustrating a small portion of the bredth of our work).  As such, no gain is to be had from even viewing this website, much less posting here.  You might as well go to /b/.  We're just noise and luck.  All crazies shouting at the winds.

Why are you here?

Sat, 12/04/2010 - 22:07 | 778839 AVP
AVP's picture

Ya...he still has that tingly feeling going up his leg; like his idol Chris Matthews (douche). Saying rnp is ignorant has to be the understatement of the year. This Liberal Loon gets junked b/c he is a shill and not to mention troll

"But seriously, short silver.  I want to see trash like you destitute on the streets, just the way your ideology has impoverished this nation".

Preach.......+ $1415


Sat, 12/04/2010 - 19:42 | 778663 RockyRacoon
RockyRacoon's picture

Oh, lordy.  As a coin dealer for many years, I can unequivocally say that you are one stupid sonovabitch.  It's like this:  You buy low and sell high.   It goes in cycles like that.

Get a life, troll.

Sun, 12/05/2010 - 14:31 | 779695 Diogenes
Diogenes's picture

That is what the critics are saying. If dealers are pushing silver and gold the price must be high and they are dumping the stock they bought low.

It might be more enlightening to say they buy wholesale and sell retail, collecting a small profit on each transaction, and not holding anything any longer than they can help.

In other words they do not care if silver is $8 or $80 as long as they can buy for $7.50 and sell for $8.50, or buy for $75 and sell for $85.

Sat, 12/04/2010 - 19:58 | 778677 merehuman
merehuman's picture

junked RNP , for his sheer stupidity

Sat, 12/04/2010 - 20:15 | 778696 Turd Ferguson
Turd Ferguson's picture

Tmos, RR and mere: Beautiful. Absolutely beautiful. Nice work!


"Now we're moving into a period of fiscal clean-up and deficit responsibility"

Sheesh. Talk about naive. Takes one to know one, I guess.

Sat, 12/04/2010 - 23:45 | 778958 StychoKiller
StychoKiller's picture

Wait, are you implying that Obamatron won't save us?  That he doesn't "care enough?"  You sir, are a blasphemer and NOT worthy to be in the same Country as "The One!" </sarc>

Sun, 12/05/2010 - 02:12 | 779124 Creepy Lurker
Creepy Lurker's picture

"Obama" is the very first word in the English language to be a verb, adjective, noun, pronoun, adverb, interjection, superlative and pronad. (Pronad is a new category made specifically for the word "Obama" so its power can be fully realized)

Sun, 12/05/2010 - 14:10 | 779651 merehuman
merehuman's picture

Turd, your naivety is most welcome. Lol Damn you made a lot of good calls and i visit your site once a day. Noticed you are aquiring a following, and for good reason. I am sure many of us are not concerned about the value of our metals as much as we are concerned about the general state of affairs and metal prices are certainly indicators.

We all know we are heading into a bad ending and are at ZH to stay aware. Zerohedge is definitely a frontline in this war between the banks and humanity

Sat, 12/04/2010 - 20:18 | 778703 homersimpson
homersimpson's picture

You're not naive. You're just dumb. There I said it. So much for the white elephant in the room. Just stating the obvious.

Sat, 12/04/2010 - 20:23 | 778707 fiftybagger
fiftybagger's picture

Junking that moron just made my day :-)

Sat, 12/04/2010 - 20:28 | 778718 mir7942
mir7942's picture


Can I have my one minute back I spent to read this stupid shit written by an idiot who doesn't even have a clue how a retail business works?


Sat, 12/04/2010 - 21:13 | 778766 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Your screen name is racist. You should be ashamed of yourself.

Sat, 12/04/2010 - 21:33 | 778789 BenFranklinJr
BenFranklinJr's picture


I'll buy your silver at $2 under spot if you're really selling out...

Sat, 12/04/2010 - 21:36 | 778794 tmosley
tmosley's picture

He doesn't have any silver, only a gun in someone else's hand.

Sat, 12/04/2010 - 23:47 | 778965 StychoKiller
StychoKiller's picture

Bet he/she also does not have any insurance, because he/she is a careful driver and has never been in an accident! LOL.

Sun, 12/05/2010 - 14:13 | 779655 merehuman
merehuman's picture

thats Not a gun, its an instrument of Viagra gone bad

Sun, 12/05/2010 - 14:13 | 779656 merehuman
merehuman's picture

thats Not a gun, its an instrument of Viagra gone bad

Sun, 12/05/2010 - 00:27 | 778999 delacroix
delacroix's picture

I'll pay spot

Sun, 12/05/2010 - 00:38 | 779010 Rastadamus
Rastadamus's picture

As much as I would take pleasure from smashing JP Morgan, I am not naive. I been in silver since $11 an ounce thank God. Stopped buying at $20. Gotta wait and see what is going to happen with this one. I have to think that if this gets too crazy the goverment has a nuclear option t?at will render all of this wisdom irrellevant.

Just sayin.

Sun, 12/05/2010 - 03:29 | 779176 dogbreath
dogbreath's picture

why worry.  you have relearned a wisdom that has been lost for two generations.  Your family will revere your name for not having pissed it away.  you do have a family??

Sun, 12/05/2010 - 13:06 | 779393 i-dog
i-dog's picture

"if this gets too crazy the goverment has a nuclear option"

International forces are at play. The only nuclear option that would have any impact now is if the government blew itself up!

The Bernank's inkjet can't do anything about it. Congress won't do anything about it.

Sun, 12/05/2010 - 20:57 | 780543 Head for the Hills
Head for the Hills's picture

A government nuclear option would be quite impotent if it did not literally kill you and then was subsequently ignored.

Sun, 12/05/2010 - 06:13 | 779266 Apostle of Unknown
Apostle of Unknown's picture

Red Neck Repugnicant, you are TOTALLY right. The amount of neophytes rushing in is now amazing. I think we might still see some very nice upside action coming weeks or months and yes, further short covering. But a sustained drop in open interest will signal the end of an intermediate "micro-mania" that has been building up around the JPMorgan story and unrealistic expectations of imminent inflation in the US. It's interesting how these guys react when you're trying to warn them not to expect imminent armageddon. That's why I am on these sites. People forget that the Great Depression was a period with powerful major trends but also with many different intermediate phases. In other words, the secular bull market in precious metals will continue with ups and downs for many years so I wouldn never sell my core position, but definitely the calls will be out sometime in the near future. Have been looking at greener fields such as the various Asia bear trades that are popping up.

Sun, 12/05/2010 - 12:09 | 779457 Red Neck Repugnicant
Red Neck Repugnicant's picture

Perhaps I should clarify something.

I am not trying to say that Friday's price in silver/gold is the top, or that silver/gold won't move up in the next month or two.

But we are close enough to the peak in this particular mania phase (and it truly is mania) that to blindly expect silver/gold to jump over the moon due to an imminent collapse of JPM or the Euro, or whatever, is ridiculous.  

This thread began as a commentary on the cartoon, a short-squeeze at JPM and the subsequent probability that silver prices had been strapped to a rocket and the fuse had been lit.  That's bullshit. That is simply a fantastic sales pitch by a silver and gold dealer. 

There are threads of truth to that story, but the way the cartoon unfolds is not realistic. It actually reminds me a lot of a Glenn Beck episode, in the way it starts truthfully and then dots are connected into a world of utter lunacy and nonsense.  As we all know, there are many Glenn Beck wingnuts around here, so perhaps that explains why everyone finds that cartoon completely believable - same mentality at work.

Long term, I have no doubt that silver/gold will be a fantastic (perhaps the best) storage of wealth imaginable.  

Short term:  expect a MAJOR correction in those metals, as the unprecedented financial chaos around the world subsides. As soon as the nervousness about Spain is resolved, gold is going to correct.  

The major theme of the past 2/3 years has been the probable implosion of trillion dollar banks and governments losing control over their society.  That phase is ending.  The next major theme for the next few years is:  clean-up and responsibility. 

I'm waiting until gold retracts to $1000.  Then I'm in long-term.  

The fact that nearly everyone here seems think silver/gold cannot reverse into a bear phase within a long-term bull market is total lunacy.  But, of course, these are the same morons with more green beans buried in their back yard than the Jolly Green Giant. 

Sun, 12/05/2010 - 14:19 | 779667 merehuman
merehuman's picture

FRNs are only a promise. Gold and silver is real and fiat paper burns as the trust in it erodes world wide.

At this point in time its almost silly to value gold and silver by fiat standards. The trust is gone and without the trust the dollar is nothing.

Sun, 12/05/2010 - 14:24 | 779681 tmosley
tmosley's picture

"I'm waiting until gold retracts to $1000.  Then I'm in long-term.  "

Excellent.  That means you'll get NONE.  People like you deserve what is coming for you.

Sun, 12/05/2010 - 19:56 | 779755 chopper read
chopper read's picture

i just think it is hilarious to watch RNR backpedal from his bearish viewpoint on physical PMs.  this rookie has clearly been finally reading the info in ZH posts.  ha, ha.  

Sun, 12/05/2010 - 17:03 | 779964 DosZap
DosZap's picture


"I'm waiting until gold retracts to $1000.  Then I'm in long-term."

Thats why we DCA, if it pulls back under the GLOBAL conditions to $1k, thats why you do not shoot all your bullets at the highs.

I will DOUBLE my current positon, MINIMUM, if we get that correction.

We are not in a mania,Americans still are less than 10-15% in PM's.

I would say, more like 5% or less are IN.

Now, on the OTHER side of the world, its another story.

They have been down the Hyper Inflation road, and World Wars in their yards, India didnt buy 200 Tons from the IMF@ $1,045.00, because their stupid, they know it will never see the southside of $1k again,in their realm.

We have a Global Driver here, and we have NO WAY to pay our way out of it.

No way,without default,re-set.

Silver, also, is now being recognized again,as MONEY, not just an industrial commodity.

Gld & Slvr have been MONEY for 5000yrs.

Sun, 12/05/2010 - 15:12 | 779775 DosZap
DosZap's picture


Dude,did you see the PREMIUMS on their inventory?.Sheeesh

"Bird in hand,worth two in bush"

They are also in Canada.

Sun, 12/05/2010 - 16:19 | 779891 A Nanny Moose
A Nanny Moose's picture

Sigh. Everybody has to eat eventually, chief. There are expenses like wages, leases, debts, taxes which need to be paid in a timely manner. This means providing value to others to make those payments


Sat, 12/04/2010 - 19:17 | 778625 Urban Roman
Urban Roman's picture

It's pretty obvious why SLV does not have the same effect, but what about PSLV? Won't Mr. Sprott have to buy some more physical at some point?

Sat, 12/04/2010 - 21:41 | 778801 goldsaver
goldsaver's picture

PSLV is 100% silver. So, when a customer sends 3K, he buys 100oz. Whenever the price goes up or down is really immaterial since the fiat is converted to metal when it hits the fund (or sometime thereafter).

Sun, 12/05/2010 - 06:51 | 779277 Apostle of Unknown
Apostle of Unknown's picture

No PSLV is a closed fund. It has a given amount of silver vs a given amount of shares. If people pile in on PSLV, the price gets a premium (or discount in case they stampede out) vis the spot price of silver.

Mon, 12/06/2010 - 11:20 | 781930 Lieutenant Dan
Lieutenant Dan's picture


Do you think the comex would ever issue liquidation only trade for the silver contract that JPM is short?

Sat, 12/04/2010 - 18:38 | 778581 qrad
qrad's picture

I just hope these guys are tracking their deliveries at !

Sun, 12/05/2010 - 03:10 | 779164 been there done that
been there done that's picture

Google the Northwest Territorial Mint is Washington State. They ship and have LOW premiums. They get their silver from Pan American. These are the folks I deal with. I think shipping is free. Look them up!

Sun, 12/05/2010 - 11:36 | 779433 Dr. Sandi
Dr. Sandi's picture

I love those guys.

Go to their sales office in Federal Way, WA with cash in hand and walk out with real, honest to Dog silver.

I've never used the mail with them though. Just showed my smiling face and Ben Franklin's smiling face, and the smiles continued. Still smiling when I realize how well this silver investment stuff is working for me!

They mint Pan American's coins at their minting plant which recently moved from Washington to Nevada for a friendlier business climate.

I'm a satisfied customer. Prices are good there for their home brands of silver rounds.

Heading back there this week with a few more Benjamins in hand.

Sat, 12/04/2010 - 17:12 | 778447 Selah
Selah's picture

The prices on that site weren't that great. Obviously the little bears are a great marketing tool.

Apmex and Gainesville should use the little bears.!

Sat, 12/04/2010 - 18:21 | 778552 drwells
drwells's picture

Yeah, not to be a snob, but buying PMs should go hand in hand with doing your own research on the subject and shopping around for prices. The people who buy because someone (whether Cramer, a little bear, or even Tyler) told them to are the ones who get shaken out.

That said, ever since NWTM's site redesign a few years ago I've been guilty of occasionally going there to just drool.

Sat, 12/04/2010 - 19:34 | 778647 midtowng
midtowng's picture

The good thing is that in a bull market, even dumb buying can make you look smart.

For instance, when I started buying gold and silver in 2002 I used Goldline (long before I had ever heard of Glen Beck). Did I overpay a little? Yes. Do I care? No, because the price of bullion has gone up 5-fold since then.

Sun, 12/05/2010 - 00:20 | 778992 RockyRacoon
RockyRacoon's picture

Yeah.  I was rolling some Silver Eagles last night that I bought in 1995 at $7.33 each.   Wish I had bought a ton (literally) of 'em.  Ah, that hindsight!

Sun, 12/05/2010 - 03:20 | 779168 been there done that
been there done that's picture

Speaking of "Rolling", when my GF goes out I like to spread out all of my silver on the floor and roll around naked on it while listening to John Couger's "Hurts So Good".  The bars hurt and the rounds stick to you but it's all good fun!!!  :)

Sun, 12/05/2010 - 15:06 | 779768 chopper read
chopper read's picture


i thought i was the only one. 

Sun, 12/05/2010 - 21:23 | 780650 tmosley
tmosley's picture

I thought everyone did it.

Mon, 12/06/2010 - 03:36 | 781427 chopper read
chopper read's picture



...i noticed the rat with the green paper.  

Sun, 12/05/2010 - 02:38 | 779139 RafterManFMJ
RafterManFMJ's picture

Hey pal not all of us know the hip abbr.. Thanks for obfuscating rather than enlightening. NWTM? Never Winter Knights? Huh?

Sun, 12/05/2010 - 05:13 | 779247 drwells
drwells's picture

Sorry, Northwest Territorial Mint.

Sun, 12/05/2010 - 09:45 | 779355 breezer1
breezer1's picture

just got a tube of silver philharmonics for my kid. a few small scratches but prompt.

Sat, 12/04/2010 - 17:15 | 778453 Fish Gone Bad
Fish Gone Bad's picture

I hope those little bears make me a butt load of money.  Keep it up.

Sat, 12/04/2010 - 17:18 | 778460 malek
malek's picture

If they become soldout at I will really start to worry...

Sat, 12/04/2010 - 17:24 | 778470 Teapot_Dome
Teapot_Dome's picture

I will start to celebrate.

Sat, 12/04/2010 - 18:01 | 778533 kadriana288
kadriana288's picture

Apmex is starting to get pretty low on silver bars. I've noticed that seems to be the biggest seller in the last couple of weeks.

Sat, 12/04/2010 - 19:41 | 778660 dlmaniac
dlmaniac's picture

Yeah, the most popular affordable .70 over spot generic silver coins / bars are gone @ APMEX.

Sun, 12/05/2010 - 17:22 | 779982 DosZap
DosZap's picture

APMEX has raised their prems, and their prices are not the best either.

They ship at $24.95,but, with coin they make on the metals prices, they can afford it.

If your west coast US, Lear is about as good as I know of.If you can handle longer deliveries.

I used to use them,but the volatility of the markets on pricing, stopped me wait times can kill you.

PS: As an aside, any of you noticed when you put yourselves on PM Dealers ALERT status,if prices jump, you get REALLY fast notices?

Just sayin', sandbagging inventory,making more on prems, can make profits far better.

Just a hunch.

Sun, 12/05/2010 - 17:40 | 780030 DosZap
DosZap's picture

End of '08/early '09, I had to wait 6mos for 500 Mapes.

We are not close to that run.

Sat, 12/04/2010 - 17:20 | 778461 NoTTD
NoTTD's picture

Tyler Akbar!

To the barricades!!

Sat, 12/04/2010 - 17:26 | 778472 dizzyfingers
dizzyfingers's picture

Absolutely, and fire when you see the whites of their eyes!

Sat, 12/04/2010 - 17:41 | 778499 Arius
Arius's picture

viva -

Sat, 12/04/2010 - 18:29 | 778567 Ricky Bobby
Ricky Bobby's picture


Sat, 12/04/2010 - 17:23 | 778468 merehuman
merehuman's picture

Hahahahahahahhahahah LOL hahahhahahahha

Sat, 12/04/2010 - 17:27 | 778473 Sam Clemons
Sam Clemons's picture

Is it possible to have a margin call when you can create as much money (or borrow at no cost) as you want?


Yes, its a serious question.

Sat, 12/04/2010 - 17:44 | 778503 unky
unky's picture

I also think Max Keisers campaign will not destroy JP Morgan, as they get as much money as they need (via the Fed) to cover all their short selling. However there might not be much physical silver around, but J.P. Morgan will still be alive

Sat, 12/04/2010 - 17:56 | 778525 Azannoth
Azannoth's picture

They will sell short the silver deposits on the Moon if need be

Sat, 12/04/2010 - 19:38 | 778655 tmosley
tmosley's picture

No amount of dollars will save them if longs stand for delivery.  That's assuming the rules are followed.

But of course, if you can't get silver from a long futures contract, then the exchange is broken anyways.  100 Quintillion dollars won't change that, unless it is used to buy silver off of the open market.

Sat, 12/04/2010 - 20:29 | 778721 CPL
CPL's picture

Rules don't mean much anymore.


What has to happen is people have to stop dollars and start using silver as the exchange principal.

Sun, 12/05/2010 - 04:09 | 779197 GoinFawr
GoinFawr's picture

Say, that's a great idea! But it will only be viable if first a whole lot of people from a wide demographic all pick up at least a little bit of silver. Now if someone could just figure out a way to encourage that to happen; some sort of interweb campaign or something that anyone who wanted could participate in...hmmm, hmmmm, hmmmm, damn this 'thinking' stuff is hard. Anyone have any suggestions?

Sat, 12/04/2010 - 19:46 | 778667 dlmaniac
dlmaniac's picture

Somewhere in their CRIMEX contracts there should be a way for JPM to settle things in cash so yes it's hard to crash them. The biggest goal remains as driving these Ponzi A-holes out of the market to end the paper manipulation.

Sun, 12/05/2010 - 17:25 | 780004 DosZap
DosZap's picture

99% of America never heard of Max Keiser,much less his war.

Its a nice attention getter, and is laudable on Max's part.

We are doing our best already, at least most are here.

Sat, 12/04/2010 - 18:08 | 778539 goldsaver
goldsaver's picture

Yes. Lets say you had an unlimited 0% credit line on your AMEX. You borrow 100k for gambling in vegas. You loose all 100k. The house demands payment. Now you have 100k debt. You have 2 choices. Quit gambling and find a way to earn the 100k to pay AMEX back or borrow more and hope you make it back. As a compulsive gambler, you borrow another 100k. You continue doing this until you are a cool mil in the hole. You now have 1 mil in debt. Even at 0% interest, you are still a mil in debt. So you have 2 choices. Default on the debt or demand more money from AMEX to pay the debt. Either way you are screwed. You are 1mil in debt. That is not going away unless you declare bankruptcy and default.

Even though the Fed creates money out of thin air, it is backed by some form of security. In the case of governments either currency swaps or bonds. In the case of JPM it is an unsecured credit line. It still has to be payed at some point. And any money you are now putting into paying that debt you can no longer use for gambling. 

The hope is to get them to leave silver the hell alone and move on to greener pastures in the hope to cover the debt. Eventually the maddoff blows up and they declare bankruptcy.

Do NOT follow this link or you will be banned from the site!