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US Mint Reports January Silver Sales Hit 26 Year High
When we had last checked on the total silver sales by the US Mint earlier today, the amount given was 3,407,000 ounces, a number which we had earlier speculated would be a monthly record if sales were maintained at the current pace. And as the number had not been updated we assumed that "either buying interest has ceased overnight (unlikely), that the
mint is not updating its numbers (likely), or, worse, that the Mint has
now stopped selling any form of silver for reasons unknown." Indeed, the result was the likely one, and following a quick check today on US Mint sales confirms that sales have once again surged following the Mint's delayed update. As of today they stood at a whopping 4,588,000, or nearly 1.2 million ounces sold in a few short days. This represents the biggest monthly total sold by the US Mint going back to 1986 when the Mint disclosed its first monthly sales record... And the month is not even over yet. In other words in just the first three weeks of January, the mint has sold more silver than in any month in its history according to its public records going back 26 years.
So the bad news is that while the bulk of Scotia Mocatta's silver bars continue to be sold out (and just the Valcambi 1kg bar is shown as available), the good news is that the kind folks at BullionVault were good enough to advise us that their physical silver inventory is now back and is on line (and contrary to our previous notification, the firm's physical shortage was not in Germany but in England, where its vaults are located) so our England-based readers can go ahead and purchase at will from said location.
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A 26 year high? Man, that must be some good hopium.
Whoa! Tomorrow I'm going into town to buy more silver coins at the barber shop.
Dollar has just broken below 79 & silver abover 29, looks to be holding. There wasn't much price pullback, but silver is making lower highs, or is it?
O/T, has anyone seen Dick (Darth Vader) Chaney lately?
Check it out.
http://news.yahoo.com/s/yblog_theticket/20110118/ts_yblog_theticket/cheney-opens-up-about-health-on-nbcs-today
Good luck Dick and don't worry. Jackal heart replacement surgery has a very high survival rate nowadays.
Dick(head) Cheney has a heart?????
Who knew??!!!
To be publicly raped by those in government employed to protect you is exactly what happened with the "new position limits" being proposed by the CFTC.
How is it possible that JP Morgan et al get to keep their massive and over bearing short positions under a "grandfather clause"?
How is it that the Silver market has been supposedly "investigated" for over 2 years now and yet no report?
How is it possible that position limits (or lack thereof in JP Morgan's case) are being set without a 2 plus year investigation being concluded?
The CFTC have now proven they are a bunch of spineless bastards who are obviously in bed with the banking establishment and don't give a flying fuck for the public they are supposed to protect. The commissioners should all be jailed.
JP Morgan continues with "help" to have their 365 consecutive profitable days each year continue, what scam! WHAT A SHAM!
OK so "investors" (otherwise known as marks!) have to play the hand dealt even though it is off of the bottom of the deck and in public no less.
We only have one option, TAKE DELIVERY! Either do not trade in the fraudulent (now government sponsored) playpen of JP Morgan et al, or if you do, ONLY for delivery. Trading of any sort in Gold and Silver on the COMEX is only for those wishing to repeat the phrase "thank you sir may I have another?". Playing an obvious and now PUBLICLY rigged game is insane, don't do it!
Buy the metal and take delivery, use no margin and do not let the bastards win! WE will without a doubt win when all is said and done because the fraudulent paper known as "Dollars" will submerge the entire system. Let JP Morgan accumulate $ Trillions in profits and ultimately default on their naked short positions. YOU need to accumulate the real and tangible metal because the end game will be scored in ounces, not fraudulent and worthless pieces of paper.
Disillusioned with what once was THE most transparent financial system in the world? The rest of the world knows exactly what is happening. They know of the fraud and they know it goes all the way to the core ... the way America does business.
Anyone who now says Silver is not a manipulated market can no longer be classified as naive. They are complete idiots ... full fledged liars!
The CFTC has now publicly grandfathered the fraud which they were supposed to be investigating.
All that is now left for the coupe de grace is a CFTC announcement of how "clean" the markets are.
Makes you proud to be an American huh?
They have now silenced Bart Chilton, Now they will try it with that other "lunatic and rabble rouser" Ron Paul?
A very sad day for America indeed!
http://www.cftc.gov/PressRoom/SpeechesTes
timony/ChairmanGaryGensler/genslerstatem
via lemet
How is it that you understand that PM dealers are hedged, but not JPM?
There is a difference between JPM and PM Dealers. PM Dealers actually have physical Silver.
Clint how's yor brother Butt?
How do stupid assholes like you wind up on this board?
KD kicked you off?
Preach!
Stand for Delivery bitches. 3M+ standing now. Not my website, but I think it's cool.
http://standfordelivery.com/stand.php
2011 - 1986 = ????
And they say 26 yr High????
How about since existance HIGH???? Oh wait, such a headline would be too panicy... Nevermind...
All is well! People, do not panic, stay calm.
i just set up a subscription for uncirculated eagles{4} from the west point mint..the unit price is 25.95...i really don't understand the price...but that is what i signed up for....
If the deal sounds too good to be true, it probably is. I would look closer.
UF
scored 20 - 1921 choice unc. morgans last friday for below spot.
JP APMEX had a higher buy price. cha ching...
and some1964 proof sets $15 a pop. melt is over $18.
The only thing new in the world is the history you don’t know.
Harry Truman
Your history lesson of tonight.
The Silver Stealers: Part 1 - 6
http://www.silverbearcafe.com/private/01.11/silverstealers.html
http://www.silverbearcafe.com/private/01.11/silverstealers-2.html
http://www.silverbearcafe.com/private/01.11/silverstealers-3.html
http://www.silverbearcafe.com/private/01.11/silverstealers-4.html
http://www.silverbearcafe.com/private/01.11/silverstealers-5.html
http://www.silverbearcafe.com/private/01.11/silverstealers-6.html
Good gawd Sam. If I get a free month or two, maybe I'll have enough time to read the links. Do you have an executive summary?
Luna, keepin' it simple!
Respect!
;)
BTFD
Thumb Nose at Rothchilds/Rockefeller
6 generations of inbred asslickers that defrauded the world through the demonitization of Silver.
Interesting that in the ScotiaMocatta image the don't show silver maples
which are NOT sold out neither they mention it in the article....
I haven't been to purchase any Maples since the very end of December, but I've not had any problem getting them.
Did you think you would?
Bought TFD Monday and am picking up 2 kilos of Perth mint silver and a roll of silver Maples later today. My dealer though keeps selling out of 100oz bars as soon as they come in. Now a 3 week wait at least for orders on those.
looking fo a twinshot o pain as ye?
Paper money is far from worthless, it can be used to clean stuck food from between your teeth. Try and do that with a silver or gold coin.
Actually paper munny has no purpose outside a strip joint or streetside weed trans. All other purchases are made with debit cards, credit cards or paid by internet journal
Obviously you're unacquainted with public transportation, hole-in-the-wall Mexican restaurants, unlicensed massages and street parking.
You'd stick paper money in you mouth? You don't know where it's been.
Keep it simple:
For Americans, buy pre-1965 junk US silver coins. APMEX and Tulving are reliable suppliers.
This is survival money. The 4 quarters I am looking at right now can be liquidated for US$5.00 a piece.
If the ATM machines stop working with a bank holiday being declared and your credit card no longer operates, at least you have coins to trade.
Hopefully, it will not get that bad.
A Note From Alf FieldsPosted: Jan 18 2011 By: Jim Sinclair Post Edited: January 18, 2011 at 8:14 pm
Filed under: General Editorial
Dear CIGAs,
Firstly, to finish off on the ultra short term, here is the chart I showed a couple of days ago:
Note the small a-b-c correction from $1420. The A leg was from $1420 to $1363, a decline of $57. If the C wave is the same size, a decline of $57 from $1412.50 takes us to $1355.50.
Yesterday the PM fix was $1360.50 and the morning fix $1357.50.
Conclusion: gold has either already finished the correction or requires one minor drop below yesterday’s fixings to finish it.
Turning to the longer term picture, I sent you the following weekly price chart in mid 2009.
This is what has happened since then:
I have numbered the minor waves and concluded that wave 5 is extending. This opinion is based on the size of the corrections since the wave 4 low at $1058. The following analysis of the minor waves and their relative proportions should make this quite clear:
Wave 1 712.5 to 989.0 +276.5 +38.8%
Wave 2 989.0 to 870.5 – 118.5 -12.0%
Wave 3 870.5 to 1212.5 +342.0 +39.3%
Wave 4 1212.5 to 1058.0 -154.5 -12.7%
Wave 5 is extending – see analysis below.
Note: The similarity of the 12% declines above indicate that they are part of the same impulse wave. The much smaller declines of 7.9% and 5.9% are evidence that wave 5 is extending.
Extended wave 5:
Wave 5.i 1058.0 to 1256.0 +198 +18.7%
Wave 5.ii 1256.0 to 1157.0 - 99 - 7.9%
Wave 5.iii 1157.0 to 1421.0 +264 +22.8%
Wave 5.iv 1421.0 to 1337.5 -83.5 - 5.9%
Wave 5.v 1337.5 to 1642.0 +305 +22.8% (forecast – assumes the same % gain as 5.iii)
Total 5 1058.0 to 1642.0 +584 +55.2%
If we assume that 5.v is an average of the 5.i and 5.iii gains of 18.7% and 22.8%, say 20%, the target for 5.v would be $1604. One further possibility is that the gain in wave 5 equals the overall gain in waves 1 through 3, i.e. $1212.5 from $712.5 = $500. This provides a target of $1058 + $500 = $1558.
This concludes the end of intermediate wave I of Major Three. The decline to follow the peak of wave I, (the peak being somewhere between $1558 and $1642), should be of a magnitude of between 16% to 22%.
I think that we can conclude that your $1650 forecast will come close to achievement during the up-move which should start this week.
Best wishes,
Alf Fields
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If any man is a broken clock it is Jim Sinclair.
I guess that means he'll be right... twice.
Fee, fie, fool, stole.....I just heard a top-calling troll. But we already have one here, now where is the SOB...we need a top called!
Throw the wave analysis out the window. Gold is still within it's 2 year trading range and the DOW hasn't crossed 2oz, therefore the decade-old bull market is still entact and will likely continue. A break below $1300 gets me nervous b/c supply will tighten significantly, anything between that and $1350 is cheap flow and considered a gift.
DP and the rest at lemet and GATA shouldn't worry about the JPM grandfather clause. As despicable as it seems, it likely bought some time for those of us late to the party to still get their hands on some physical. Not a JPM victory, but an organized retreat. The unwind will be orderly instead of shock and no flow.
I Fester
Wow, an entire thread without the Bernanklusters and Paper Pumpers.
I don't know how to react reading all this.....
Starting to look a LOT like 1979 now though from oh so many perspectives.
One thing I fail to understand is that why most analysts are recommending the purchase of Silver or Gold as a safe investment? The problem today is that the price of precious metals is not derived by it's physical demand or supply but more by the speculative positions standing long or short on the commodity exchange like any other traded commodity, stock or currency.
The basic mechanism of price discovery (based on demand and supply for actual use) of anything traded on an exchange has been terminally infected by speculators having access to unlimited funds and super fast computers for trading leading to volatile price swings. This has been made worse by the launch of ETFs for anything and everything under the sun by the financial community.
The price of everything including precious metals is likely to suffer when the speculators unwind their positions due to some event that they have not anticipated or foreseen.
http://www.marketoracle.co.uk/Article24581.html
Everything you say above maybe true, the problem is you think of price instead of value. Prices are nominal not cardinal. Holders of physical do not care about deflation, it is only during dislocations (transitions) can they lose wealth and, then, only via panic sells.
Try it this way...instead of pricing everything in dollars, measure it in Au ounces. You may find something interesting during the sixties.
I Fester
Congress mandates the program use only domestically mined silver. Annual U.S. prodution is 40 million oz. They will have to suspend the program for 2 months this year if demand keeps pace. Customers will then by other coins and bars and premiums will go up again. There is a solution to this. Call off JPM and let spot climb to $50. People won't stop buying but some will sell and some buy less. It's called a true market figuring itself out.
If the price rises rapidly, supply will dry up. If the price falls rapidly, supply will dry up. This is an orderly retreat, nothing more.
Not directed at you Gonzo but..Does anyone here really think that cash is king, really! For 40 years the dollar has been the reserve currency in its modern form...pure fiat token. For those unwilling or too dim-witted to accept, take a trip to a Chucky Cheese. Watch people exchange their cash (directly or with debit cards) for Chucky tokens, exchange the tokens for time on a worthless machine, collect paper tickets in the process, and exchange tickets for plastic purple crap that was made in China. What should blow your mind is when you realize you just traded one Fed token for four Chucky tokens...got faith? How's your hamster wheel turning?
40 years running, 70% of the worlds reserve, pure faith-based, backed only by turning your kids into more debt slaves than you....now where is that top calling troll?
I Fester
I don't want to bet long on the USD , but I will bet against the other guys, hehe
Short Cable Short Yen
http://oahutrading.blogspot.com/2011/01/short-cable-short-yen.html
Every time silver passes $29 I like it better. It may only be change, but it's change that rings true.
http://www.ft.com/cms/s/0/3b8b9f78-2312-11e0-ad0b-00144feab49a.html
Do a search for the title if access to full article is denied.
Wanted to give a little shout out to Gainesville Coins. Much better than Apmex. Shipping is FAST!
http://www.youtube.com/user/BrotherJohnF?feature=mhum
Gold and silver is a curse.
Gold and silver are the hidden battery that will always jump-start a new ponzi. If we care about where the price of gold (and maybe silver) is going, it's only out of self-interest, NOT, that it will ever remove the parasitical class that undoubtably has more of this crap sitting in their basement than the most sov govs.
Listen to my duplicitous self say 'fuck gold' when Im rooting for the right team.
I listen to my lies as a belch out, 'gold will save the world', when I know it will only save me.
Pathetic.
in theory... here... it sounds really good...
but, when it comes to feeding the family? having something around that will allow for trading or a store of wealth... that you have earned... is worthy.
Interesting. Go to the mint website and you can download the 2010 annual report (year to sep 30) in the about us section. Surf to note 6 in the accounts - not a lot of silver stock on hand. I make it 16 million oz of "deep storage" inventory and working stock combined.
I think the "deep storage" is held in trust for the Treasury which means only 9 million oz for working stock. At the rate they are selling them they are really now running a Just In Time stock system...fun times ahead boys and girls...got physical?
You need to go to London only if you want to take delivery from Bullionvault (paying some additional fee). Otherwise you can buy and trade silver from your home 24/7 with them. You can use my link to register a free account: http://alturl.com/ykkhp
keiser and co have a giant flaw - you do not want to trade to express your anger , to express your political opinion, to express your disgust at the moral turpitude all around( hmm Lao Tsu 500 BC had simililar rants) - yeah that a great way to lose lots and lots of money.
Trade coldly, unemotionally, observe reality the way it is ( not the way your utopian peurile ( look it up) ideals say it should be) - then maybe you have half a chance. Although I would probably bet against that possibility.
Iam sure peasants all over the world feel like there must be some sort of scam afoot - what with all their masters ( ya know the guys who pay them) not seeming to do any useful work at all. I mean they dont sweat in the hot sun, dont carry rocks on their back, dont till the soil - what the hell!! They just seem to get in a company car and drive to some air-conditioned office - where they sit at a desk staring at papers and occassionally scribbilg something- with their - umm- writing implements. What the hell!! There must be a giant scam afoot - all these slackers making all the money. Down with the system!!!
Indeed it would be a Great Leap Forward if we put all these pencil pushing, geeky, swindlers in blue tunics and made them do an honest day's work - tilling the fields. That would be a just and proper manner to move our great society forward - No?
The worst elements are of course those comrades who have secretly stashed a bunch of gold /silver - in an attempt to avoid doing their share of the back-breaking work ( ya know in the fields and such). So they can have the peasnats toil - while they simply pay with their coins. Such elements will need to be sent to re-education camps to the learn the value of real, honest, work ( ya know - like tillin dem fields).
Do we really want our brightest kids studying useless subjects like mathematics, philosophy, finance ( puke!), art ( uggg), and such? I say - if ya caint eat it, chew it, regurgitate it or pee on it - wot da hell good is it. OK - if ya caint drop it on yer foot so it hurt - what da hell good is it? Eh?
If its jest paiper - like yer birth ceritificate, title to yer house/car, da constitution, da legal system, and da paper dat some gent calling hisself einstein wrote some gibberish on- well - then its just paper - and aint worth a hill-o-beans- ya wid me here?
@TD
Errrrr the whole point about BV is that you can be/live anywhere and own gold/silver in Zurich/London or NY, and be anywhere and sell, in either $,£ or Euro. Please try and be a bit more accurate in your analysis, especially after being wrong about Germany/England silver shortage already!!!!
Cheers!!
They can't have them leaving because others would, and then the Euro would be weakened and then much of the Euro denominated financial instruments would lose value and cause a cascade of defaults. And to be honest with you it still won't hurt Greece because even though they will have a lower valued old currency, it will still be used and their debt will be restructured on THEIR terms not ECB terms.
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This was later sold on the open market for use in commercial reactors throughout the US. It is a great way to eliminate the proliferation risk associated with decaying weapons stockpiles. I believe the US has been actively doing this as well for her own retired stockpile, but I don't have any references.
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I made this Youtube video with pieces from part 3 of the BBC documentary, “The Power of Nightmares”. It explains the Precautionary Principal and where it came from, that has caused so much damage to our way of life and the world.
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