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Let's front run him.. or follow him.. fuk it.. just buy..
standing O here for sprott making this announcement while Bennie Boy is on stage and speaking, sprinkling more of his fairy dust.....
and JPM doing its best assist to try and take the metals down for Bennie....
love to see the metals break out tonight.....right as Ben concludes his increasingly ridiculous remarks.
Yep, he completely showed up big ben...how about Tyler calling kid dynamite out? that is straight-running owned! i haven't seen him lurking around here in awhile...
dupe post deleted
not sure what you're talking about. I never made any mention of Sprott or anyone else top-ticking the price of silver or gold. Rather, the PSLV premium to NAV. It's not a very hard concept, so you should still be able to grasp it.
I agree Go Sprott!! The Boys over at Sprott Asset Management see the writing on the walls. As for Small Bennie Boy The pint size Bankster and the corrupt Private company called "The Creature from Jekyll Island" ( thank you Mr Griffin) they will continue to spew there propaganda through there Spin machine ( oh ya it was once called the free press). Here is the skinny Gold $1800 by the end of the year, Silver $50, and as the original Mr Gold ( Jim Sinclair) would say QE TO INFINITY!!!!!!!!!
I noticed that the nooner with Blythe, usually fairly rough for the PM crowd, was remarkably tame today.
What is $20 cents? Wouldn't that be $0.20 or 20¢ for clarity?
300 million is chicken feed in the gold market. Try 300 billion if you really want to make an impact.
300 million usd's in gold terms is just under 6 1/2 metric tonnes at the current paper price of 46,171.00 per kg. But since this is a physical purchase, add about a 3% premium to that price (if you're lucky), and that would make it about 47556.13 usd's per kg, so he'd get closer to around 6.2 metric tonnes for that amount of fiat.
How many entities on the planet do you know of, or think you know of, with 6.2 tonnes of unencumbered physical gold in their holdings that will sell that amount at 47556.13 usd's per kg to Mr. Sprott?
Ben Ali from Tunisia only has 1.5 tonnes, so he doesn't even qualify as a potential seller. Do you reckon Muburak or Qaddafi will sell that amount? hahaha
And you talk about 300 billion worth of gold? WTF? That's 6500 tonnes dude !!!
More than what most sovereigns would have...who & where do you think sellers will show up, in the middle of an 11 year secular bull market, that will sell 6500 metric tonnes of gold at 47556.13 per kg? Nowhere...that's where...not at these prices.
Please get a grip on reality. Six and a half tonnes of unencumbered physical gold for immediate delivery is NOT chicken feed to source in this market. And you think Six thousand five hundred metric tonnes will even be for sale? At these prices? C'mon...get real !!!
Gold breakout imminent. Silver already there...
Fly, baby, fly.
Gold = finite
Silver = Finite
FRN's = infinite
This is a great looking chart. Trader Dan also provides excellent commentary when it comes to PM's.
Dollar should be puking lungs by april 15th and shitting it's liver in the toilet by april 30th.
The real March Madness:
Fed's spent 8 times more in March than they took in from revenues!
Dollar is being dumped onto the cart as we speak; all the while groaning: "I'm not dead yet; I feel happy; I want to go for a walk..."
Like something out of a Monty Python sketch...
It's sad but it's funny. The fed is buying every police force in the nation big ass gas guzzling brand new GM's while trying to ressurrect it's stupid green movement scam just to keep GM afloat.
+1 for the report. That is just insane.
I GOT A QUESTION! I GOT A QUESTION! If radioactive material is so finite how can we possibly have a problem with having too much of it?
Kudos. This is about the simplest explanation to what is going on. Good job.
Let's Get Physical Bitchez
I smile when I think of that song. It brings back my youth, and a testosterone fuelled attraction to Olivia Newton John:
"Let's get physical, physical, ooohh I want to get physical, yeaaahhh..."
Yeah, my testosterone levels were definitely high enough to make Olivia a dream girl back in the day...
Wow. This is the best news so far this month! Burn HSBC and JPM! Burn!
and we are only 4 days in!!!!
I hope the IMF is taking notes..Every since that episode where they backed out on him and he threatened em with a bazooka he has been on a mission...
On a side note, Read this shit right here...
Tyler, don't forget CEF. They were first with a $300 Million+ offering 10 days ago.
Agreed. Central Fund did tap the market for over $300 MM less than 10 days ago. Half of that amount went to buy about 4MM ounces of Silver, the rest to buy gold. Note how silver has jumped since that announment.
Conversely Sprott only needs to buy $185 MM worth of gold . The rest is just a paper swap. He swaps his gold in other funds over to the gold fund and hands them back paper. Kinda smells rotten doesn't it. Even more rotten smelling was that he did the same thing with his silver fund PSLV. He swapped about $285 MM of paper out of the $500 MM to his own funds. Nice way to double dip on performance and Mer/admin fees.
Much less of a Sprott fan after all these paper games. Now sticking with Central Fund along with Central Fund's all silver play, Silver Bullion Trust.
Better run, more trustworthy, no paper games, and lower MER's.
@Justbuygold - can you please shoot me an email here: http://kiddynamitesworld.com/contact/
i have a question for you.
KidDynamite. See these posts.
and also the posts that follow. Maybe that answers your questions.
yeah - i'm aware of your views, and I think you're correct. wanted to talk to you off-forum about it though
I am glad I didn't hold back, but DCA'd into silver starting at about $14 and had finished most of my buying at $17.50. Silver been berry berry good to me.
There are people over at Goldismoney that claim to have cashed out their IRAs, taken the tax hit, and put it all into silver at $6.
I say bullshit. When it was at 6, none of the conditions existed that would portend taking a 30% tax and penalty hit or greater. I remember well. I was there. I cashed out in early 2009 and starting slipping in around 20. Always love to hear these fables...delivered ex post facto by delusional egos.
Right douche. I got the receipts from 99. Of course if you were doing research, it sure as hell DID look like the time to buy. Also looked like the time for a stock market crash. But of course, no one could have seen it coming.
i bought my first silver bars at six.....have the receipts and all...and frankly, i still remember opening up the box, looking at it, and thinking, i'm either going to be very, very right, or feel like the biggest horse's ass in the world in five years.....
and how long ago was this? long enough that i had one sitting on my desk, propping my key board for two years before i started using safe deposit boxes.......
not one person who walked in my office asked what it was or knew what is was....don't think that would be different now....which is why silver is going to keep going....
If/when the banks shut down, how do you get your silver out of the safe deposit boxes?
You take it out now and make sure you have a safe. Or bury it in the back 40. Whichever you prefer.
Use a non-bank storage facility now, not a bank owned safety deposit box. Most larger cities have privately owned vault storage companies. They are usually opened 24/7/365, thus allowing box holders access.
I would hope that someone with the smarts to buy silver bars @ $6 would have the sense not to put their trust in the banks that helped get it to the $38 it's at today. Don't you read this site?
FOR THE LOVE OF GOD PEOPLE, don't put your PM's in safety deposit boxes! It is not what the name implies.
ROTFL! That's a familiar story.
There were some of us following the conspiracy blogs in the late 90's. Also how could you not stock up on silver and gold at historic lows?
Buying at 20 sounds like you are a mo mo investor.
Buy when you are a real contrarian and not just an alienated hanger-on late to the party. There were people who sold their houses in the late 90's and early 2000's also because housing prices were clearly unsustainable. These oddballs were written up in various news articles. I know several oddball freakazoids who cashed out their IRA's in the late 90s and bought a bunch of silver to bury along with their guns and wheatberries. I believe many of the stories are true, but probably there are a few just wanting to brag about their fantasy trades.
Yes indeed the conditions existed that could warrant taking the risk. Richard Russell has always said it is inflate or die. No government will ever take the deflationary cure any more. that is tradeable information for those who know the truth about governments and credit cycles.
Yeah, most of us have been talking about our silver positions for years. Hell, some butthurt gay stalkers of mine went around the entire internet and found my posts to that effect, while trying to prove that I was a "liar" or some stupid shit.
You divest yourself of silver, you deserve what you get. End of story.
lolz. I been buying since under 4 dollars.
Silver For The People
Good move. I did the same when silver was at 16.00.
To the tune of Conan O'Brien's "In the Year 2000"
Gold $2000...this year Gold $2000
Pslv has been the best paper product I haver ever owned....tanks, tank you;)
This is a new era. The old rules no longer apply.
This time it really is different.
+ $25,000 at least.
+ $55,000 quite possible.
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