This page has been archived and commenting is disabled.
SLV Is Now "Hard To Borrow" At Goldman
And now for the latest news in the silver meltup: SLV just moved to Hard To Borrow status at Goldman Sachs. This pertains to institutionals who are Goldman Prime Broker clients. Soon coming to every prime broker near you. Comex margin hike imminent now that it is impossible to short the largest silver ETF in the world.
»
- 22157 reads
- Printer-friendly version
- Send to friend
- advertisements -
With ordrinary stocks, longs have the option to tell their counterparty to not make the share lendable, or repoable. If everyone does this there is no way to borrow shares from brokers to those who wish to short. In ETFs it is a little more complex, although superficially a general pull of borrow could lead to same result.
This is true, but there are some caveats - if you call your PB and tell him not to lend you shares, he will oblige. The problem is, that they won't let you do it too many times or for too many securities without changing your rates - the PBs count on the revenue from stock lending when determining their rates.
Another thing that can lead to a tight borrow are fast markets with a lot of turnover -- in a fast market, the PB won't know how many shares are held by his customers and are available for lending at any time - and will jack up his rate accordingly - placing the security on the hard to borrow list because the rebate is non-standard. A high precentage of retail holdings will do the same thing - the PBs prefer to lend out institutional positions, and avoid using 'broker' stock -- and when they do, they charge a higher rate.
My guess is that with the crazy price action here, you have both a fast market, and selling by large institutional holders to stupid retail money... both of which make it very hard to lend stock at a normal rate.
Longs shouldn't get too excited here. It really doesn't mean anything... if anything, turnover is increasing and institutional holders are getting out. That is generally a bad sign - SLV is all held by fast money now, and when they want out, look out below.
MothMan, got a ghostwriter now, do ya?
This post was so radically different in style and tone from all your other typically disjointed, poorly written, semi-autistic comments in this forum that I do not for one second believe that "you" actually wrote this.
Will the REAL MothMan please step up?
New hand in the sock puppet. He got called out for being an idiot, so they replaced him with someone who at least SOUNDS like he knows what he's talking about.
Baffle them with bullshit.
Nope... still here. I actually do know what the fuck I'm talking about... even though idiots like yourselves don't believe me. Silver is a big time bubble - and this 'hard to borrow' non-sense just proves it more.
You guys all love to talk about how wrong I've been, when all I've been doing is buying puts for a few months and watching my theta decay... throwing away a little premium here and there, waiting for the big kill. This risk/reward in the silver trade is way out of whack. Being long right now is a fools trade, just as it has been since 30.
.... only $5 to dig it from the ground .....
.... only $5 to dig it from the ground .....
.... only $5 to dig it from the ground .....
.....only $5 to dig it from the ground .....
.... only $5 to dig it from the ground .....
.... only $5 to dig it from the ground .....
.....only $5 to dig it from the ground .....
.....must ..... eat ..... silverholders' ...... brains .......
lol, a loser, who is doing nothing but lose money is calling winners fools?
Reality is a FOOL, man.
Thanks for helping with innacurate wrong information. Let me return the favor.
Don't bother changing the oil on your turbocharged car. It's just a scam and the old oil works just as good and will never eat you turbine bearings.
I know alot of people say water and electricity don't mix. But if you want a nice relaxing bath. Just take the heating element off your stove and hook it up directly to the wall mount in your bathtub.
Delete your windows\system32 directory. It just wastes disk space.
Use a bulk tape eraser or degausian device on your hard drives. It kills just the viruses without affecting the real good data.
Thanks for letting me help.
Ever heard of click and sell, then click and buy?
JPM is getting it... down 1.2%
A dream fulfilled:
1 oz AG = $58.79
1 share JPM = $15.23
Anyone else think this is Goldman's polite way of telling JPM you're on your own buddy. The squid always gets out first.
Finding silver prices hard to predict. Just know this. The value of silver is above that of JP Morgan stock.
Breath . . getting . . heavy . . . walls . . . creeping . . . in
must . . . short . . . SLV . . .
Forget silver.....
Snowmobiles, bitchez!!! LOL.....
I hope they are either hybrid or electric.
two strokes, stinky fuel smell, ick†
WTF are you LOLing about Robodork? Hey hows that silver short working now that its back well over $45 and gold regained 1500? You are the worst trader in america.
Just remember SheepDog-One:
No take backs Robo!
http://youtu.be/38bEi8wnXJA
This never loses its charm! Anyone keeping count on how many times this video has been equated to Robo?
Rearview mirror charts aren't an accomplishment.
Why don't you tell the class what is going to go up TOMORROW for once, and try to gain some credibility?
He keeps trying, but he's always wrong.
"Time to short silver"?
lol
Global cooling bitchezzzzz
Yesterday it was 32 degree Celsius in Belgium. The normal for this time a year is 9 degrees Celsius.
Cook it baby!
Spring (life) always arrives early in places with no POS gubmint.
Looks so cool in pictures but most of those machines are 2-stroke pigs. If the wind isn't blowing, you're gagging in 30 minutes.
Why are you laughing out loud? That is just fucking dumb.
It's the crazy signal. It's getting to them.
http://www.youtube.com/watch?v=Z6hL6fkJ1_k
do some research. The Victory cruiser motorcycles are soundly beating HD in reviews, taking market share, and are built in a weak union state. Victory's are built by Polaris and are 50 years-newer designs than HD.
No charts on brokers or bank stocks as they rollover in a up 200 market?
If anyone has SLV in a cash acct to stop your broker from lending it out put a extremely high offer out GTC ....it freezes you shares
Umm . . . I could be wrong but -- even as small as the silver market is -- I don't think this will matter.
...love that line of thinking...! :)
Thanks very much! I don't own SLV, but if I did I certainly wouldn't want my broker lending out my shares for someone to short them. Allowing brokers to lend your shares for shorting seems kind of like shooting yourself in the foot.
When the shares are shorted, they are sold to someone else and I assume that they could be shorted again and again. So if I am long a stock, it seems crazy to lend the shares to be shorted.
Hmmm. PM is good. Food is good. Guns & ammo, very good. Buy all you can now bitchez and learn how to use them because when the SHTF you'll be paying through the nose for anything that shoots. I have various licenses and am a pistol instructor. Don't think you can just buy any gun and any ammo and think it will work. Guns are finicky things. Not like buying a toaster and it does what you expect.
Who in their right mind would buy a firearm that doesn't feed everything you give it for self-defense? Only an idiot would keep such a firearm for self-defense. Especially if you are stocking up on ammo as well.
Most people are just as clueless about guns as they are about the markets ;-(
I know I don't know shit about toasters.
strongly recommend IDPA shooting... it is surprising how much you fumble around under a timer in "real world" scenarios!
+1. I action shoot since about a year. Amazing how many times either I or the gun or the ammo screws up. Now I usually wind up in the middle of the score roster. Not easy....
I do 3 gun competition myself.
Scotia McLeod says I can short as much SLV as I want,what gives?
I think it is possible that the tog dogs at JPM have been in lala land for years and are in complete denial of what is happening all around them.
Don't think so. Prepare for battle. Top dogs have Bernanks bedroom bathroom line. This is a long way from over, and before it is, that line will be ringing off the hook.
Hah and the Bernank is spending a lot of time answering that phone in the fiat papered walls of the shitter!
Traderjoe. I took delivery three time off the comex. Once for gold twice for silver. Recent took delivery for silver, off the Feb contract, remember all contract months trade you don't have to get involved in the active months. Easy as pie, broker transfered moneys it held. Contacted HSBC warehouse arranged for delivery. Called Brinks they picked it up and put it in their vault. Would bring to my house but 10000 oz of silver weighs 940 lbs.
If TSHTF in a rapid fashion, you may not be able to get to it. Dig a bigger hole.
you just made it to the top of my 'hero for today' list! :)
not especially meaningful, to be sure, but still...
How much does your car weigh? Clean out the garage, pack in the silver and throw a tarp over it. I suggest stacking it in a volkswagen beetle shape to avoid suspicion. Buy extra homeowner's insurance.
Look into used bank vaults. I had a chance to pick up three small vaults (dunno if they were from a bank or not) off of Craigslist for three hundred bucks. They were the size of three drawer filing cabinets and were designed to be embedded in cement. Very tough. Dunno what the inside dimensions were. Probably wouldn't have had any trouble storing that much silver.
Take a pick axe to some cement, fit some plywood flush to the hole, cement over.
100oz bars in a bank bag tossed carelessly behind a couch. (1) belgian malinois that takes no shit. Come and get it.
toga! toga! toga! toga!
It's gonna be huge Easter BTFD party courtesy of Blythe and their minions. Waiting to the invitation
you can't borrow it at E-Trade or Scottrade. either.... However you write future or option contracts. creating a short positon.
Silver will drop first from all the illegal front running then they will announce the margin hike on silver.
SLV is easily borrowable for retail clients at Interactive Brokers - their SLV stock loan inventory has actually increased throughout the day today. -2 1/4% rebate
Ergo the word: "institutionals"
since when do retail clients ever have better access to borrow than "institutionals?"
Oh boy is this GREAT!
SLA (Silver Liberation Army) is takin scalps! http://silverliberationarmy.com/
AND I WANT MY SCALPS! http://youtu.be/R3dtuzdd9ek
watch monster burn...live...i havent felt this good since that guy pwned george bush with a shoe...
did we just get a margin hike?
O my the antics of this group is hilarious.
http://silverliberationarmy.blogspot.com/
Chris: Margin requirements on silver useless http://youtu.be/leOTNjL6Hkw
Could JP Morgan be in truly deep trouble?
Yeah, could be the "kiss of death" from Goldman. The Squid wins, bitchez!
well if JPM goes, the whole banking system goes. You better have some food storage :)
And Silver attack starts just after lunch. I mean, if they did it the same time everday, we'd catch on.
Embry - JP Morgan Massive Short Position Causing Silver Spike
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/4/20_Em...
Silver is the new Credit Default Swap (insurance policy) for the USD.
Also: Silver is going parabolic because physical cannot be sourced anymore. ScotiaBank in Ottawa and Toronto CANADA are OUT OF SILVER.
I can't wait until we the sheople start using silver for our currency between our private transactions.
Finally, those silver quarters, dimes and half dollars will come back out of circulation.
:)
Some day soon I hope. Screw Washington DC beltway bandits and the whole Fed banksters.
Next train, back to pre-1860?
>> I can't wait until we the sheople start using silver for our currency between our private transactions.
Already happening between smart dealers and customers.
not to be a christian apocalypse nut, but see how this scenario rings out:
1) dollar tanks
2) flat tax takes hold
3) 'bartering' deemed tax evasion
4) transactions required to be documented electronically
5) transactions require 'debt-card'
6) 'debit-card' available as impregnated 'mark'
7) 'mark' mandated for 'personal security'
stir in a little global meltdown resulting in a new global currency, and you can read revelations for the rest...
Exactly, a cashless society just makes sense for the governments and banks. Look at a recent article "Banks declare war on Cash in Italy." Cashless helps governments collect taxes, eliminates underground/black market economies and helps banks earn more fees on every transaction. Win Win.
Order out of chaos.
We are merely pawns in their game. I am honestly impressed at their level of genius.
Under $45.
JPM lives another day.
Yes, but the countdown to its implosion is already underway.
PS: I'm always amused by your childlike focus on the short-term rather than the long-term
woooshhh
$43
Time to short it?
You do that, faggot. I would suggest you use all the leverage you can get.
Hey T and robo.
It's 4/20
Chill.....you both need a break.
Drugs are bad, mmmkay?
I get the feeling that Robo has been partaking heavily ever since he was fired for incompetence, and forced to declare bankruptcy 8 times in five years, again due to his own trading incompetence.
It's pronounced "tranny incontinence".
Hence all the gratuitous pics of svelte, busty ladies --- which (s)he keeps taking to his/her plastic surgeon and whining "I want to look like this!" But having started out his/her procedure as 300 lb. Roger, (s)he gets the Barbara Mikulski package instead:
http://cbf.typepad.com/photos/uncategorized/2007/11/14/barbara_mikulski.gif
Hey careful their Kobe! :p
RoboDouche yea short it, oops back over $45 now retard.
Hilarious.
Now they are taking everyone to the cleaners.
This aint the real thing (but it sure is fun. Volatility!!) They are testing to see how much they can move it and how long it stays. No secret. Dip buying until end of week then re-assess.
Gee are they really RoboDork? Doesnt look that way to me.
BTFD!
i did :)
Bear Raid in progress.
http://www.kitcosilver.com/charts/24hoursspot.html
.75 cent drop in 15 minutes? NOT magnificent bastards!
Looks like it bounced right off a 44.50 support line. :-)
Don't let the bubble end now, I need one last run to $50 before I'm fully loaded on puts!
You're getting more and more obvious all the time, troll.
Give it up already.
Obvious about what? That I think silver is going to flush? What clued you in?
Your attempts to scare newbies away from silver, and long-term holders out of silver, by incessantly poormouthing it and by your rabid fearmongering about a possible but in any event evanescent dip in the price of silver --- THAT is what is obvious about you, troll.
Also, your transparently disingenuous insistence that what we are currently witnessing with the metals is just another typical bull/bear market cycle, and not in fact the slow death of the monetary status-quo. Bankster shills just LOVE to defend the fiat status-quo!
But please, tell us all again how you bought all your gold and silver at the very bottom of the market back in 2001 --- that fairy tale is one of my favorites!
Is it not possible for a bull/bear cycle to culminate in the end of a financial hegemony?
I would argue that we agree on the end-game, we just disagree on the path.
And actually, I bought my first gold coins in June of 2000 and my first silver bar in 2001. But then I'm sure it would disturb you to know my timing really is that good.
Let's hope for a skyrocketing silver tomorrow to finally announce an end to this run.
You are a liar.
Go away.
And people should be scared, this makes me think of the hindenberg.
Yes, people should be scared of disingenuous, bankster-shilling, fearmongering, blatantly lying, PM-bashing trolls.
And I also agree that your credibility here has taken a Hindenberg --- spectacularly up in flames.
fun while it lasted, 4/20 tyler. i think, i might partake early.
I'm in.
Anybody else celebrating?
I know jw in fl has been open about it.
Sheepdog probably never stops.
Tyler?
So what's this lunch time smash down due to? Tyler if I see a headline about Silver margin increases I will refer to you as Oracle Durden because that's some call!
So margin hike? Volume spike of naked short selling? Healthy selling? Fat fingers or just painting the tape lower before the close so these cocksuckers don't look like utter failures??
Wow, that was concerted and . . . weak! If they can't take this (meaning a whole series of silver plays that remain firmly up) down below yesterday's close, next couple of days could be huge.
Margin hike is coming tomorrow. I am 100% sure of it.
I read this and then I think how there is only physically 4 ounces of silver for each person in the world. 4 TROY OUNCES per person ! If and when all fiat goes to shit (it seems the perceived value of fiat is dropping at a faster pace now) and this trend accelerates and grows where every man woman and child is looking for a few grams of silver to gain control of hyperinflationary pressures (fiat destruction) that is when silver will be in a bubble . The only thing is though, it won't be a bubble it will then be CURRENCY and a trusted one . So (this is the scary part) as a central bank do you risk all of your power (the creation of debt from nothing) where everyone loses faith in the currency or do you pull the plug and take the deflationary spiral down where you might not lose it ?
I am actually surprised this has gone this far without China /the EU or the US pulling the plug on their respective currencies ( the EU not so much due to the fundamental weaknesses of their currency ) .
Once silver and gold are seen as necessary to survival in this environment the WHOOSH you will hear from fiat being placed into the PM"S is going to be deafening ....I don't think we are a long way off as the DXY demonstrates it isn't a safe haven from inflationary pressures and the gains in commodities show the weakness in every currency traded out there . From here to June be prepared to hear the WHOOSH ....AS the realisation of the above (4 ounces per person ) comes into play and physical delivery becomes standard practice .
Not so sure. Margin hike at this point would be a huge TELL. Any reversals would be short and could send this parabolic faster.
Bad guys might have to face that this market is about to get much bigger. Their cash cow is coming undone and they need to get out. Their best option is to stage these mini-raids and try to get out in orderly fashion.
Source?
tyler,
i have read about various tipping point spot figures that would trigger a run on JP Morgue. i.e. Max Keiser thinks $47 spot, Bob Chapman thinks around $50 spot.
where do you think the spot would need be before the blow up hits the mainstream?
thanks
It doesn't matter - The price will get to even above those levels with or without some evil bastards daughter on the other side . ASIA ME etc are hurting from serious inflation the majority of the worlds population is there . They are "old school savers" who have no problem going from paper to PM's . The silver from the west cant get there fast enough to supply the demand . The truth is the demand has just begun . For the first time in months bloomberg runs gold to new high's on dollar weakness . Seriously this is just starting to go mainstream if at all.
GS was always a good source of short shares for commodity ETFs. If they have SLV on their "hard to borrow" list, then there is a very large vested interest in the ETF sinking, probably taken up in the last two or three trading sessions. These large shorts are probably under water by a few percent, and, with no option for averaging, will play increasingly desperate games. Forget about the JPM short myth, the recent short additions are what are going to kill the silver momo.
I think you are asking Slaughterer? I don't think they're going to raise it yet again.
Slaughterer,
I think any 'new shorts' wouldn't be in the context of a one way bet down for price of silver. In this environment, they would have to be hedges that can be unwound as the volatility is just too potentially big. I think now that the 'cat is out of the bag' on silver, the big guys want to control it as much as possible as they unwind bad positions. I don't think they are looking to make back losing bets on short positions.
Its really no secret that these guys have been singed, but they don't want to burn down the house (unless they already have and we don't know it yet.) I think their is a chance COMEX hikes margin, but that would be just to get through this delivery period and it could really send things off to the races in a week or two.
Re-discovery,
the most probable reason we do not see as many monkey raids in the 40s as we did in the 30s is because of a damage control hedge strategy from HSBC and JPM.
Please factor in the upcoming FOCM press conference next week as the maximum in volatility for all PM strategies, as this trade only really took off in the QE environment. (Granted, 10 year bull market in gold...) FOCM volatility and confusion will be a major benefit to all institutional hedges next week.
COMEX / CME / GS / JPM / HSBC have a concerted strategy to temporarily kill the PM bull market for about 3 - 6 months to unwind positions two of the PDs have obviously suffered from over the last half year. Sorry, but they have larger capital bases than the army of ZH, and they will win... for the time being. Long term, PM is golden.
Agreed on the capital base here. The game for the next several months is judging how the banks unwind. I have advocated on here for leaching this process. But I don't see a reversal and suppression. That just ain't working.
I don't think any of the large banks cared much about the price appreciation in gold and silver since 2000 ungil about a year ago. In fact, they likely made some money. When the ETFs and bigger boys started wading into the pool however, the game started to change. Now, fighting the long term bull gets much more costly as each manipulation just became 20, 30 and even 40% more expensive.
Smarter folks than post here are reading the unwind tea leaves and the dips (havent been any for several sessions) are becoming less and less pronounced. I think even the banks would concede that they have lost in this arena, they are just looking for a graceful exit. And they hope it takes months and years, and not days.
Good posts, value your input. Need to go sell into huge late day rush of buying.
To both you guys: I don't think the wind down period will work. You might get a small pull back, maybe to $40, but then it will be off to the races again.
I think that most people know that this breather is to cool off PM's (and that QEIII is coming) and that it is the only thing that might work (it won't). They have tried shorting physical supply, ETFs (SLV, GLD, GDXJ, GDX) and miners. Last card in the deck is a take down of the markets IMHO.
Agreed on the capital base here. The game for the next several months is judging how the banks unwind. I have advocated on here for leaching this process. But I don't see a reversal and suppression. That just ain't working.
I don't think any of the large banks cared much about the price appreciation in gold and silver since 2000 ungil about a year ago. In fact, they likely made some money. When the ETFs and bigger boys started wading into the pool however, the game started to change. Now, fighting the long term bull gets much more costly as each manipulation just became 20, 30 and even 40% more expensive.
Smarter folks than post here are reading the unwind tea leaves and the dips (havent been any for several sessions) are becoming less and less pronounced. I think even the banks would concede that they have lost in this arena, they are just looking for a graceful exit. And they hope it takes months and years, and not days.
Good posts, value your input. Need to go sell into huge late day rush of buying.
All signs of a log -periodic Sornette-Johansen type bubble in silver going to crash in few weeks:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=140#p31889
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
Not this again..................unprint 3 Trillion or more $ and I will believe that silver is in a bubble.
Can someone explain why you think that they won't just confiscate gold and silver like 1933?
Because it isn't 1933 anymore . The FED RESERVE AND BANKS got themselves in the mess they need to get themselves out of it .But also I assume we are headed toward a new currency in the near future due to the suicidal tendancies of central banks right now .
I will defer to anyone else who has special knowledge on the subject, and there are quite a few here. However, I found the following an interesting read. I will not account for its accuracy but it follows a decent line of thinking.
http://www.bad-credit-advisor.com/2011/03/can-gold-confiscation-happen-i...
Because that would be a repudiation of their fiat. It would be admitting they were/are wrong. It would be a much clearer default than it was then because people are not in bumfuck somewhere hoping the next dustcloud isn't their last and instead they are searching out real information.
Or I could have just said lots of people in the U.S. have guns. Is that sufficient?
Because they did not confiscate silver last time (it was currency) and the gold confiscation only netted the US 500 tons. That was also with a much more law-abiding population who relatively trusted banks.
Most of the recoveries were voluntary and from safety deposit boxes.
This generation? We will NOT comply.
Thank you for the responses. My grandparents handed in their gold because they got nervous. I guess the threat of a ten year prison sentence can do that.
http://en.wikisource.org/wiki/Executive_Order_6102
http://en.wikisource.org/wiki/Executive_Order_6111
Today, even with the horde of mindless sheep that masquerades as citizens, if the fascist US government tried the same thing they would just receive a collective laugh in their face and a giant "FUCK YOU!".
And they would hear an inordinate amount of what seems like endless clicking simultaneously.
Is it dumb to buy with credit card? or through IRA? would you only use cash? i just feel like they might just take it away . . .
I guess it would depend on how, where and how much you are planning to purchase. Small amounts locally, at a coin shop, cash. Through a broker, for larger amounts, you are going to have to pay via. certified check. Banks hate this so you should feel good about doing it to them. They will ask you a bunch of intrusive questions, be warned. You are under no obligation to answer them! My response was a resounding FU.
If you plan on adding it to your IRA (if you have one which will accept gold purchases) or opening a gold IRA, I think you need to really ask yourself why you are investing in gold? You are already concerned that the government will take it away, and the only gold which can be held in this type of account is bullion.
You will find most people here are not keen on this because we like to hold the physical. The IRS requires you to deposit the gold in a custodian bank which you will be paying a maintenance fee for storage. When/If the poopie hits the fan I think you will find you are SOL getting at the physical, if there was ever any there to begin with. I have added a link for you to browse.
http://www.goldandsilverexchange.info/gold-IRA.html
Pay with a credit card if you want to, but pay off the balance. If you are worried about the government knowing you are purchasing gold. It doesn't really matter the people you are buying from will have to log the purchase.
If you are really concerned and have the finances to do it. Go with pre-1933 gold coins and/or coins which are graded and have a numismatic value. This is still is no guarantee, but at least you can fight them on the grounds they are collectibles.
Hope this helps.
TPTB are certainly trying to keep it below 45 to end the day.
Didnt work too well, $45 and 1500 regained. Tough to be having to try to mash down PM's these days.
We'll see.....they like to pull quickies at the very end of the day.
like I said......
http://online.wsj.com/article/BT-CO-20110420-713616.html
I see SLV bounding nicely - up $.98 on the day and will close at around 3x normal volume.
The bullion carry trade to EUR/Asia could be interesting. Too bad it's so bulky.
This weekend has to be the highest candidate for an intermediate top I have ever seen. Maybe silver goes to $80 or $160 in the end, and remain that way for the rest of your life, and the physical holders will win, but I give that scenario a 2% chance of actually becoming reality. I would rather play the infinite game of the paper.
....what, and die a death of 1000 paper cuts.
The difference between $20 and $100 silver is -- at most -- few bucks per unit in most industrial uses of the metal. Manufacturers will pay and contract sellers will still have to deliver.
I made a calculation of USDA retail beef price/lb in correlation with AG, AU prices since March 09. Trying to estimate actual purchasing power of AG vs AU. Silver tripled in purchasing power of actual food. Maybe Robo's Mom can put it up on the fridge.
(Disclaimer- this is open to interpretation. Could be that AG was significantly underpriced for longer, or there is indeed a speculative bubble, or something else (AG is sorta nonmonetary, so seen as a worse hedge against SHTF).
Cute secondary observation, price of actual beef rose by ~12% in the last year. Of course inflations is still at 2% because the Brenank doesn't eat meat (opting for souls of children instead. )
The soul is dessert; the blood, brains and heart are the main course.
I think I understand a little of what drives the PM market UP, I'm just not 100% clear on if demand is high, what drives it down?
Don't see the dollar gaining any serious str, inflationary effects I believe will continue to be felt across the board...
So, what type of economic event/s could make the Silver run bust atm?
Regards2All
JPM et al shorting paper silver.
Yon chart is getting too steep, the exponent just increased. I'm looking at ~$30 - $35 before I start buying again.
Those dollars are backed by what ? Fannie, Freddie AIG, GM(debt ) plus countless banks , 2 wars plus reconstructing those countries , Medicare and social security, selling yen , bailing out countries by contributing to the IMF I am sure I have missed some but you get the point that these are the new weimar reparations and this speeding up will only increase in velocity .
Here comes another pop higher,
Do you think we have another up-day tomorrow?
as what's his name said yesterday......'it is not parabolic' ...if it goes to triple figures this year then it is parabolic.....right now it is orderly.
Sorry, 'what's his name' = Jim Rogers
The parabolic rhetoric is used by those old enough to remember the Hunt brothers fiasco. It is in nobody's interest for silver to go parabolic, except the shorts. Shorts wishing for a Hunt brother's replay will be sorely disappointed. Not that it will not be mobilized as a strategy around $50. But, equally, I wouldn't be surprised to see silver hit $50 and just keep on trucking upwards... History never really repeats itself... except as farce. And the final silver pop--if ever there is one--will be the most comedic and stupid experience you will have ever lived through as a trader. Not a Mad Max replay of people bartering silver for ammo and gasoline, but pure stupidity. Think MSM lemmings and crazy, stupid HFT manips.
+ a parabola
+ a hockey stick
I have some ITM call options, and I am wondeirng if I should unload today
oor be greedy and hope we shoot higher tomorrow
Short day or no day tomorrow, I believe.