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Third Largest Producer Of Silver Says Production Is Now "Totally Paralyzed" Following Week-Long Strike

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Wed, 03/30/2011 - 11:57 | 1117261 Theta_Burn
Theta_Burn's picture

LOL at opening Mis

Wed, 03/30/2011 - 11:59 | 1117284 Buckaroo Banzai
Buckaroo Banzai's picture


Wed, 03/30/2011 - 12:37 | 1117516 Oh regional Indian
Oh regional Indian's picture

If someone had taken my advice to sell gold into silver on 18th October 2010, they would have been sitting on a hefty return (Gold from 1370 to 1420, 5 % or less and Silver from 26 to 37.XX a 36% return). It's the only "call" I ever made, time stamped.

I'll say the same again, now. Sell your gold into silver. Or don't. All good.




Wed, 03/30/2011 - 12:49 | 1117567 IQ 145
IQ 145's picture

 Been sayin it so long, I'm tired. Nobody listens. Cut in production is "alright with me" !!

Wed, 03/30/2011 - 13:12 | 1117699 SilverIsKing
SilverIsKing's picture

Q: Guess what time it is?

A: Time for you to make another call.

Wed, 03/30/2011 - 13:53 | 1117960 Cash_is_Trash
Cash_is_Trash's picture

Cisne Negro putazzz = Black Swan bitchezzz

Wed, 03/30/2011 - 15:02 | 1118311 Lord Koos
Lord Koos's picture

In Oct 2010 the gold to silver ratio was 60:1 -- it is now 38:1 so your advice might not be so handy this time.

Wed, 03/30/2011 - 23:51 | 1120227 Oh regional Indian
Oh regional Indian's picture

I know. I am saying it has a lot further to correct. Pendulum+Reality.


Wed, 03/30/2011 - 12:02 | 1117304 truont
truont's picture

In news that should move the precious metals market...

silver is used in various industrial and peacebringing applications (see Operation Odyssey Dawn)....


Wed, 03/30/2011 - 12:08 | 1117337 francis_sawyer
francis_sawyer's picture

++ "peacebringing applications" - ror

Wed, 03/30/2011 - 12:14 | 1117377 Imminent Crucible
Imminent Crucible's picture

Don't laugh, it's called OBHA:  Ordnance-Based Humanitarian Assistance.

Give Obama another Nobel Peace Prize.

Wed, 03/30/2011 - 12:16 | 1117401 francis_sawyer
francis_sawyer's picture

Yeah... Because his "Peacemakers" pack a helluva whallop...

Wed, 03/30/2011 - 13:06 | 1117673 Stuck on Zero
Stuck on Zero's picture

There is peace in death.

Wed, 03/30/2011 - 13:33 | 1117843 tmosley
tmosley's picture

Rest in pieces. 

Wed, 03/30/2011 - 17:30 | 1118986 akak
akak's picture

So sayeth the Obamessiah, bankster blessings and taxpayer funds be upon him.

Wed, 03/30/2011 - 13:37 | 1117861 sunkeye
sunkeye's picture

@imcru re  'OBHA:  Ordnance-Based Humanitarian Assistance.'

this is pure genius hope you dont mind my submitting this for an orwell award

you sir are a double speak savant i ever hold pol offc you gotta be press officer pls man dont hold out on me then duty calls and we'll needya

hell forget me you just run and handle your own press sparring sessions

Wed, 03/30/2011 - 23:56 | 1120247 Oh regional Indian
Oh regional Indian's picture

That is a good one Imminent.

How about OBAHA: Ordenance Based Assymetric Humanitarian Assistance.

Now it rhymes with certain namez, taking namez!


Wed, 03/30/2011 - 12:02 | 1117311 YouBetYourLife
YouBetYourLife's picture

Yet despite news like this, and the increasing interest in CBs to own PMs, etc., the bankers apparently today have once again initiated a bear raid which is keeping PM and miner prices from rising as much as they should be.

Harvey Organ mentions these coordinated raids all the time. It's criminal collusion that should result in many perp walks.  But nothing happens.  

Wed, 03/30/2011 - 12:04 | 1117313 Robot Traders Mom
Robot Traders Mom's picture

AAPL down over $2 today...Go to yahoo finance and you can see the bloodbath for yourself. Looks like the golden age of tech stocks is coming to an end! At this rate, AAPL will be on the pink sheets by the end of the year.

Goodbye Robot!!!

Wed, 03/30/2011 - 12:10 | 1117345 umop episdn
umop episdn's picture

I maked you a tech bubble but I popped it. Ooopsie!

Wed, 03/30/2011 - 12:13 | 1117367 ghostfaceinvestah
ghostfaceinvestah's picture

LOL!  Good one.

Wed, 03/30/2011 - 15:47 | 1118516 lincolnsteffens
lincolnsteffens's picture

What bloodbath? It is low volume down day. In fact check out DIA it probably won't break 4mil. shares! This market is gliding on lower warm air currents every week. Just like gliders when the updraft ends you either spiral down rapidly or descend orderly to try a smooth landing.

Wed, 03/30/2011 - 12:02 | 1117314 99er
Wed, 03/30/2011 - 12:03 | 1117315 InconvenientCou...
InconvenientCounterParty's picture

"peacebringing applications"

hehehehe. That's what the Borg call it too.

Wed, 03/30/2011 - 12:05 | 1117321 Bleeping Fed
Bleeping Fed's picture

And thus continues the crack-up boom alternate universe, where less oil demand equals higher prices, more bad news equals more equity inflows, and where cats chase dogs.  Shortly to follow will be the return back through the wormhole into reality and descent into the abyss.

Wed, 03/30/2011 - 12:15 | 1117380 ghostfaceinvestah
ghostfaceinvestah's picture

It all makes sense when you figure the unit of measure is being changed/debased.

Put another way, if someone shortened the length of an inch by 90%, we would all be over 50 ft tall.  Doesn't mean we would be any taller.

Wed, 03/30/2011 - 12:06 | 1117324 Bansters-in-my-...
Bansters-in-my- feces's picture

Kitco...got lots of the stuff.....

Jon's loaded....

Wed, 03/30/2011 - 17:35 | 1119002 akak
akak's picture

Jonny N., of Kitco infamy, is certainly full of something, but I strongly suspect that it is not silver (nor its "evil" stepsibling, gold).

Wed, 03/30/2011 - 12:05 | 1117326 chinaman
chinaman's picture

see ya, gold at US5000 and silver US320 based on 1:16 ratio.

yee ha !!

Wed, 03/30/2011 - 12:05 | 1117329 Long-John-Silver
Long-John-Silver's picture

Oil Demand Destruction + Silver production strike = BULLS Bitchez!



Wed, 03/30/2011 - 12:18 | 1117407 Weisbrot
Weisbrot's picture

does that mean that the silver sheep dont get sheared yet?

Wed, 03/30/2011 - 12:10 | 1117349 Quintus
Quintus's picture

Ha ha ha.  

Like that old-fashioned supply/demand thing has anything whatsoever to do with the price of Silver.  Everybody knows we've moved on from that old paradigm of markets setting prices.  

Wed, 03/30/2011 - 12:26 | 1117458 Mr Anderson
Mr Anderson's picture

Econ 360 The supply curve has been renamed the Big Ben Curve, the demand curve Tiny Tim.

Wed, 03/30/2011 - 12:09 | 1117355 tmosley
tmosley's picture

Yes, that's right.  We will blame the upcoming silver derivatives explosion on the STRIKERS!


Oh well.  I've got mine, bitchez.

Wed, 03/30/2011 - 12:20 | 1117411 francis_sawyer
francis_sawyer's picture

Unfortunately - the "paper shorts" have scabs that busted the union lines and so the factory there is still in operation...

Wed, 03/30/2011 - 12:09 | 1117359 koeleköpke
koeleköpke's picture

is Blythe the strike-master ?

Wed, 03/30/2011 - 13:41 | 1117890 Cash_is_Trash
Cash_is_Trash's picture

Somebody's playing with the boiler in this too hot, too cold market manipulation.

Bolivia nationalization bitchezz

Wed, 03/30/2011 - 12:10 | 1117362 LudwigVon
LudwigVon's picture



For those who recall basic central planning economics this means that silver should plunge immediately, and should react even more adversely on news that crude supplies in the US are surging

Wed, 03/30/2011 - 12:12 | 1117365 surfersd
surfersd's picture

Supply who cares about freaking supply? Oh maybe Blythe does!! 

Wed, 03/30/2011 - 12:11 | 1117369 DocLogo
DocLogo's picture

long bullets, long cruise missiles

Wed, 03/30/2011 - 12:14 | 1117376 Josh Randall
Josh Randall's picture

Attica! Attica! Attica!

Wed, 03/30/2011 - 12:15 | 1117385 ghostfaceinvestah
ghostfaceinvestah's picture

Wait until the entire country of Peru goes offline.

Wed, 03/30/2011 - 12:21 | 1117415 SilverRhino
SilverRhino's picture

It should, but Blythe and Bitches Inc. will continue to suppress the price.   I have silver pegged as trading flat/sideways for a few weeks.

37 is a good support at this point though.  Of course I would LOVE to be smoking crack and totally wrong.  ;-)


Wed, 03/30/2011 - 12:25 | 1117433 Sophist Economicus
Sophist Economicus's picture

Prechter just lowered his stop loss on his top calling silver short to $37.80.


So much for Deflationist vision of running into toilet paper, ehm, cash

Wed, 03/30/2011 - 12:39 | 1117513 barkster
barkster's picture

Prechter is half right. He is right in that we will have deflation. Where he fails to see is that the deflation will only be in terms of real money (gold and silver). Prices relative to gold and silver will drop. Prices in fiat currencies will not. Unfortunately for him, being half right in this case is the same as being wrong.

Wed, 03/30/2011 - 12:42 | 1117539 CH1
CH1's picture

Excellent observation! That's what happened in Weimar.


Wed, 03/30/2011 - 12:44 | 1117545 Sophist Economicus
Sophist Economicus's picture

Ageed.   He seems to have a real hard time making this transition.   He is stuck in the commodity mentality for Ag and Au.  Hope I'm around to see this all play out

Wed, 03/30/2011 - 12:28 | 1117474 SubjectivObject
SubjectivObject's picture

My Subjectivness intuits extendend sideways until the fundamental demand pressure is fully sufficient to overwhelm the unregulated paper threats and preprog algo antics.

Wed, 03/30/2011 - 13:28 | 1117797 DosZap
DosZap's picture

Breaking $38.00 and holding it is key.

$36.00 is painful, $38.00 is murder for the Bmasters Beasts.

It will cost JPM Billions.

Good thing they went to Cu.

Wed, 03/30/2011 - 12:21 | 1117418 tekhneek
tekhneek's picture

Definitely bearish for silver. Tyler, any word on their estimated output in 2011, or the numbers from 2010? I see they had about 42.6 million ounces in 2009 (Sourve: silver institute)

Is there any way we can determine the supply lost in this strike? In 2009 they would have lost 1.2 million/week from my calculations.

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