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US Mint Reports Unprecedented Buying Spree Of Physical Silver
Three days ago we noted that in just the first week of January, the US Mint had sold 2,221,000 ounces of silver "a number which if run-rated would be an absolutely all time monthly record," A quick glance at the tally today, shows that something very scary is going on. In the subsequent three days, the number has surged by 50% and has hit 3,407,000 ounces of silver! In just the first 12 days of the month we have already surpassed the total monthly sales of 9 separate months of 2010.
And some additional observations on what is becoming a physical buying frenzy from CoinNews.net:
An increase in 2010 Silver Proof Eagles and record-approaching 2011 Silver Bullion Eagles are the most interesting aspects in the latest US Mint sales report.
The Proof Eagle coins have seen two weekly adjustments since they sold out in late December. The latest brings them up 3,644 to 860,000, which would seem like a natural stopping point. Collectors will have to wait until the July time frame for the 2011 Silver Proof Eagles to make their appearance, according to the US Mint.
2011 bullion eagles launched on January 3, 2011. Silver Eagles already have last year’s January record in their sight. The coins have raced to 3,407,000 in less than two weeks after their latest weekly pick-up of 1,322,000. Until January 2009, the silver coins had never topped the 3 million mark during the first month of a year. Those record sales totaling 3,592,500 may get clobbered in mere days. The all-time monthly high of 4,260,000 which was just set in November could be the next victim. As a side note, the 3,407,000 sold this month includes 469,500 of the 2010-dated issues. The US Mint had buyers order one 2010 Silver Eagle for every five of the 2011′s.
Bullion one-ounce 2011 Gold Eagles are running, but not sprinting like their silver counterparts. US Mint sales has their tally at 42,500 for a weekly increase of 29,000. As a comparison, buyers ordered 85,000 in January 2009. Inventory of the 2010-dated coins also remains. There were 53,000 at the start of the year. US Mint Authorized Purchasers must order one old for every four of the new ones.
Mike Krieger presents the following disturbing observation on this trend: "In the first 12 days
of January 3.4 million silver eagles have been sold. I have never seen
anything like this. The amount of physical being taken off the market
on this paper sell off is EXTRAORDINARY. We must be VERY close to the
end." Whoever has adopted JPM's legacy paper silver short position is in
for some very troubling days ahead.
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yeah, i'm gonna buy them.
just wish i'd known about this years ago ....... but, have managed to purchase over 500 oz. over the past year & on my budget, THAT IS EXCELLENT ! ........ the FEDERAL RESERVE BANK & the U.S. GOVERNMENT sure did a good job the last 30 years programming the youth of this country into spending paper money ! .. what our grandparents knew was lost on the majority of the modern population .......... to their detriment !
EXCELLENT for you lynnybee!
damn Lynn, it's people like you that are going to put an end to my nice fat cat life style
Actually, what the FED.GOV did a good job at was programming the youth of this country to spend, at interest, their future earnings using plastic "money" they don't yet actually have.
Which is a concept that would have been, well, lunacy to my grandparents (all of whom, luckily for them, have already gone to the here-after).
What do you mean "youth"? Almost all of the "youth" I interact with are much more careful with their money than the Baby Boomers I know.
Bravo! That's a big accomplishment, escpecially considering that you have a low-paying job, plus family members that depend on your financial support (IIRC).
Butcher's crossing
Is it time to buy the dip?
It has been said:
BTFD IMHO!
Took my pound and a quarter of flesh from JPMorgue this am.
My dealer says no go on any new 2011's available so I settled for 1992's
ummm...I expect a whole lot of Silver Eagles to hit the secondary market, soon. I'm sure they'll be lots of those "Special Editon" Eagles out, too. You know, the ones that are hand painted to make them more colorful, for a small premium.
On the hand, I just got my very first Timmay edition one dollar bill. Good Stuff.
Gee, I hope somebody occasionally assays a few coins, I wouldn't put it past the feds to cheat a lil.
You tust them with anything else?,why would you buy American PM's, not me.
this headline would of course explain why it has dropped from 29.75 all the way down to 28.72 as we speak...man, somebody should put a cap n that bithces ass over a JP Morgue...u heard me...fucking banker bithces..........
Just bought 1kg of Silver today here in Euroland!
Right on. I am looking to purchase 2000 oz. Just waiting for the right buy in moment...
You both have a call on line 1. It's Max Pain.
I'll happily take that call! ;-)
Actually, it's not that bad, because priced in €uro's, Silver more or less stayed the same due to the U$D plunging...
In the end it's all just FIAT money! p.s., talking about Fiats, do you know what the letters in the Fiat car brand stands for? "
Fix It Again Tony!"
I guess FIAT currency will soon be called FIAB after Bearded Ben!
I believe FIAT actually stands for "Fix it again Timmy"
Why dont you post on ZH for Dummies where its prohibited to offer facts and resoning so as not to straing your brain and slow your train?
Welcome to the start of Phase Two of the secular bull market in precious metals @ @ http://rosenthalcapital.com/blog/
Unless I read it incorrectly they think Phase III of Gold is starting, its not.
Then at the bottom they say they think Phase I of the Gold Mkt has ended.
What happened to Pahse II.
It's like dry ice. It goes straight from solid to gas?
Buy when there's blood in the streets. I'm out the door to buy another 30oz right now.. but then maybe another day or two for a better price? what do you think?
I just bought 300 oz's of silver. BTW... my dealer is quite large and tells me that he sees absolutely no shortage whatsoever.
Anyway, price of PM's in fiat is a useless barometer. Fiat is headed straight down, the only way to protect yourself is buy a limited resource. Don't look at it in terms of fiat price.... that's the mistake. Look at it in terms of wealth preservation in light of the fact that Ben has repeated many times that more QE is on the way, further diluting your dollar holdings.
I wish I had proper funds to take real advantage of the dips, but in the smaller amounts I buy, the fluctuations don't really make a big difference.
just keep buying - sometimes the dips allow you to pick up 90% silver coins on ebay for spot - always factor in the postage costs in your calculations, though. keep buying then one day you will realize, 'hey, i got myself a nice stash here!'
Shipping is free if you spend more than $2K at CNI (www.golddealer.com), and they sell junk silver in addition to bullion.
(I'm sorry if I sound like a shill, but earlier this week, they went out of their way [and incurred a minor cost] to accommodate my special request. Letting people know about them is the least I can do in turn.)
Bottom line is that I've done business with them many times, both as a walk-in (they're five minutes from the rental car return lots @ LAX) and via mail order; I've been 100% satisfied each time.
A discount is a discount. Every little bit helps. Just keep buying. I do.
And Silver promptly gets mugged.
Those damn Chinese CFTC commissioners!!!
There is absolutely something to be said about todays CFTC meetings and the subsequent smash down in PM's especially Silver. The bullion banks know they have a two month window before even the possibility of hard limits being introduced must have tempted blythee to immediately start exiting out of some short positions. Thoughts?
Yes, in 2 months the CFTC hacks will tell us that they "need more time" to come up with appropriate limits. Another 2 months will pass. Then they will say "We've reached a decision, 1500 contract position limit, to be implemented in 2025 so that we don't roil the markets."
Silver rangebound $18-28 until 2025.
Go long in 2024!
I hope you are not correct. Does that mean we should expect the outcome of the current (third) investigation of fraud in the Silver market to wrap up about the same time period?
Perhaps the only hope we have left if the CFTC decide to circle jerk themselves (sommers included) instead of ending this manipulation, are the lawsuits against HSBC & JPM. I mean judges must act fair plus they are immune to bribes right?
The farther down "they" force it with un-backed paper promising delivery of imaginary silver [think ETF's] the more I will buy.
At the end of the merry go round, someone will be wondering what the hell hit them.
HeHeHe metals wipeout
Buying every chance I get.
Dip? Excellent.
Todays POMO of $8,412,000,000 is only $8,300,000,000 greater than the value of silver coins sold in the record month of November. Best to keep a little perspective.
comment of the day for me.
Printing 100B a month with
250M ounces gold as collateral means
400$ a month per ounce of gold in
fiat shitpaper creation.Wake us
goldbugs up when gold is at least
rising with the same rate as monatairy inflation,
and even that won't satisfy us because
gold has a lot of catching up to do,
because of the artificial price supresion.
+1
Thepner, thats just MINT stats...............dont forget the hundreds of dealers pushing it out.(not Eagles)
Over 3 million ounces in January and the price of silver goes down. What a joke. Just shows an even greater prepense towards the manipulation case hands down.
And here I thought all along that price was dictated through supply and demand aspects. I guess the rules have changed temporarily.
Silver
BTFD
http://99ercharts.blogspot.com/2011/01/silver_13.html
http://www.zerohedge.com/forum/99er-charts-0
28 is the buy target people. Get ready to load up.
http://www.youtube.com/user/BrotherJohnF
Physical silver is the stake in the hearts of the financial vampires
Physical silver is the bullet that slays the wall street werewolves
The idea that buying physical silver is shorting the Fed is alive and growing robustly. The whole JPM silver manipulation meme has never been stronger. Gold/silver ratio arb meme has legs too.
Here's an image for y'all. Chinese sovereign fund manager, prolly Harvard Phd., bloomie terminal open, pressing replay button on a catroon with talking bears that he saw for the first time whilst reading ZH.
Oh, 19 lbs this month.
Lots of knife catching going on.
Eric King, Jim Rickards, Jean-Marie, General Jim, etc. must be slack-jawed in amazement.
Their calls were totally wrong.
WFMI, SINA, and ARMH are making new highs as the consumer is getting stronger and able to buy expensive gourmet natural foods, buy the latest iPad for social networking...
Nobody really cares about gold and silver right now.
It's all about:
- The NFL
- Jersey Shore
- The Batchelor
- The Kardashians
Robot - You really are a tiresome troll.
No one cares about your tv viewing habits, the consumer is buying expensive gourmet gasoline. How much is an LA bus pass these days?
Just saying over and over that someone is wrong doesn't make it so. Were these people wrong when silver was $10 and oz telling people to buy?
Markets don't move in a straight line, FFS.
Die, RobotTroll. Just die.
Silver Wheaton down 20% plus in 10 days .... KaBoom !
Don't you mean "blowtorched"?
ha!
It must be sad to be you.
This post reeks....
yep..the aside from the nfl..the other shows are perfect for a moron like yourself....
I once had a dream that I was the Sultan, with a large harem of very beautiful women, when I awoke I was back in the real world -- the Ignorati will one day awaken to reality too -- it ain't gonna be pretty.
gainesvillcoins.com claims to have 2011 SEs in stock.
Just bought some from them on BTFD!
Hehe.
I'm holding off until I see an end to this raid.
TFD ain't over yet... This is the "serious raid" that we have been expecting as per Harvey:
http://harveyorgan.blogspot.com/
This "raid" wouldn't be public knowledge if it was going to happen. The rumor is all over the internet which is counterproductive to someone who actually had intentions of doing so. JPM and the boyz are more tight lipped than that.
I believe the rumor was started to incite selling. But I guess we'll see.
"public knowledge" is great for a raid. Timing is the key and "they" won't tell us little guys that part.
Remember the reason is price suppression. Today was comical since there were three distinct raids. When the first was over, there was a big spike. Then they raided again. After the "All Clear" signal came, the BIG Raid occurred.
I'm not so sure that this won't continue, but Gold and Silver always claws back and advance.
Remember, this is just price suppression. This is just the mechanics of slowing the rise of Gold and Silver in terms of FRN's. Obviously they don't give a crap about the PMG's and neither do I.
THE ZH "TURD" told us also.
We bow to the "TURD".
Its a/ok, I snagged a 100 Libertads for a $1.00 over spot @ 28.50 ..stole em.
APMEX has $3.00-4.00 prems on them,when you can get them.
Price drops to there again I will get another 100.(<;
I have an order shipping tomorrow ;-)
http://www.gainesvillecoins.com/
*********************************************************************
The worst people in the world to deal with... GAINESVILLE COIN!
Dear Mr. Castellano, As you know from the below email, our office has the honor and responsibility of representing Ms. MXXXXXX. We would appreciate confirmation as soon as refunded our client in full. I am at a loss to understand why you required wire instructions when a credit will suffice. In any regard, please refund the amount in full promptly and be sure to reply to me that same has been completed.
Thank you for your assistance. Rusty Huseman
William R. Huseman, P.A.
3733 University Blvd. West, Suite 305A
Jacksonville, Florida 32217
(904) 448-5552
Fax (904) 448-5653
And so everyone here who knows me, will know that was my Mother's order... and I called those scum bag fucks after hearing about them here!
***************************************************************************************************************
by MrMorden
on Thu, 01/13/2011 - 15:02
#873922
I hope someone shoots you in the face, but not with a 9mm. Bitch.
I haven't posted often on this website, and wanted to know why the f*ck is silver and gold dropping. Seriously, PAAS and UGL way down on articles like these. If anything I would think they would go up. Buying opportunity or am I just missing something.
at some point in time... it has been stated, that spot and physical prices will diverge. This is what appears to be brewing ....
Premiums actually seem to be a little less than I've been seeing. I think this is just plain ole fashioned manipulation.
Nice avatar. Opt out of the scanners!
Better yet, boycott the airlines.
public transportation is a drag, a pedestrian drag.
This is a scramble for physical metals.
Paper is being sold by the bundle.
The ZH artical just reinforces this view,
The Sprott silver fund is + 14.96%.
to NAV
I love my specie as much as you folks do. I have a very bad feeling about this price raid though. I hope I am wrong, Wrong, WRONG!
But I believe the EE are setting up for a take dow in the paper prices of the metals to $1320 and $25. If they acheive that, on gold, that creates a head and shoulders top with a target at $1250ish. That also sets up a silver target in $20-$22 range.
In the long run, physical will overcome and control the price of the metal. But near term? Caution, I do not like the looks of the charts.
Listen to Keith...right til the end.
http://watch.bnn.ca/#clip397128
FR was one of my biggest holdings for years - I finally unloaded it (before it went ballistic). dammit!
Just depends on which side you are riding this wave! Hammy looking forward to more nuggets - as the shorts are nicely counting. Hopefully 125x to be seen! This move was as predictable as it can get - see my post .. a lot lower.
Consolidation until the first of many failed bond auctions this year.
Buy muni bonds or PMs?
Be in physical or be nowhere. The manipulated digital price of the metal based on some imaginary paper currency printed out of thin air means NOTHING.
So you want to buy physical at $22 when the digital price says so? Good luck finding a seller!
We're going down the deepest rabbit hole in financial history of mankind.
I'll buy from Keith at First Majestic, as I have in the past. My local dealer is experiencing no shortages, either.
I'm long and strong my physical, its an insurance policy against Ben B, JC Trichet and the rest of the ponzi banksters.
If need be, I'll mine and mill my own, as I own outright the property and capability to do so.
The ponzis can only last for another 2 maybe 5 years MAX.
Depopulation is a bitch! Repopulation with non homogenous cultural elements is another bitch!
Socialist ponzis were created under the premise that people would actually WORK, have KIDS and PAY into the system.
Not only do we have LESS WORK, LESS KIDS and LESS REVENUE into the system, we have an increasing number of TAKERS from the system not to mention BOOMERS!
Debt ceilings are raised again and again. Existing debt cannot be repaid unless more debt is taken on to pay the INTEREST on the existing debt.
DEBT DEFAULT is absolutely inevitable. Nobody has a fucking clue what else to do anymore, nobody wants to go down that road and everyone will be forced to take the medicine.
Possession of PHYSICAL PMs are the only safe thing to do for the near future!
I do not disagree with most of that walkure. We in the west are well and truly fucked.
I am not advocating selling physical, just cautioning that the paper price is at risk.
The "paper" price is virtual. It's not real. It is set by some banker or another that is screwing the pooch. Not my game. The Soviets tried to control prices, tried to control all inflation.
The Soviets failed and so will the current class of central bankers.
When fewer and fewer PRODUCERS or MANUFACTURERES are willing to accept the prices that a central bank dictates, you have a problem. The market is desperate and willing to pay more than a central bank clown sets.
Absolutely, it's like a repeating dream, er nightmare.
Agree with you walku"re!
I would add some food, guns & ammo, and water & water cleaning devices you know, in case things get really bad.
Not a bad idea to have 6 months of FRNs with as well, in case they close the banks and credit cards.
I sold my newer Subdivision home and bought a small hobby farm last year.
Can't wait for Spring and planting a good size garden. Getting chickens soon. Looking at a good used tractor and equipment as well. Have room and feed lot for beef and hog. Horses too.
Yup, I'm set.
When food is going sky high, I will sell all farm fresh for anything that shines and holds value.
My grand parents were poor suckers that had to give up all their valuables during the Weimar Republic, after WW1 and during and after WW2. The farmers were not accepting any paper for their produce. Why would they?
Central bankers don't seem to learn from history, I did.
Of the people I know only one cousin and a friend of my brother is better prepared than you.
Yup, you're set. You may very well have a lucky family that will bless you if things go bad. And if things do NOT get bad? No (or little) harm to you.
Well done. + $1365 to you.
Now we're talking. Enjoy the acreage, exercise and learning experiences. Do tell about chickens, beef and hog breeds; acreage size; et al. We are living the good life as well.
i would bet that the central bankers themselves are holding a lot of physical PMs.
>> When food is going sky high, I will sell all farm fresh for anything that shines and holds value.
I've jus about done the same thing. I started out six years ago on a plan to downsize andminimize. All together, we've sold two houses and a commerical property in the city. We bought an old abandoned trailier on ten acres about 8 miles out of a smal town with very good supples. While the commercial property was on the market (the last property), I lived in my RV and renovated the mobile and and the land. As we bought it so cheap initially (around 40K), our tax base is minimal, $350 per year. This winter has been agood test of the renovations of the place and it's working out very well. The trailer was pretty well gutted with new kitchen, bath rooms, plumbing, electric, air, etc. But, none of that effects the tax base as they use the initial purchase price to set value.
I'm also looking forward to a spring garden. One thing I think of when I see people talking about selling their farm goods is just how are you going to do that? If you're close enough to concentrated populations to sell it without incurring large fuel bills bringing your good to market, you will certaily be at peril to poaching and the tax man. If you ar far enough away from the population centers, transportation expenses will be prohibitive, and your neighbors are most likely plenty capable of suppling their own needs.
My own plan is to be as self sufficient as possible, while keeping my overhead so minimal as to make retirement at an early age feesable.
Good luck.
+1000
Total collapse is a certainty and this time it will not be some odd country here or there. It is going to be most of if not all the industrialized world.
I dont want your gold or silver... but can I play with your real life tonka toys?
Take it easy, friend. TA is worthless in this manipulated PM market. Just buy as it goes down, as it goes up, as it goes sideways. It the ounces and PMs are cheap at this level. The fundamentals will prevail, just be patient. Enjoy the beverage of your choice and enjoy the show.
The Fed's algorithms.
anybody else having trouble buying silver proofs at the mint? i can't download a proof purchase to the cart.
They have been sold out for weeks
that's what i thought. bought some proofs in early december with no trouble. but given the markup i'm surprised the mint ran out.
Why would you pay the premium for proofs? They are generic coins and available from coin dealers. Unless you have a collection you need to keep up to date you should just be buying common date Silver Eagles.
Have you seen the proofs?
Stunningly beautiful coins, well worth having some
regardless of the premium, IMO.
Silver getting stomped, miners getting crushed, Pt and Pd holding up, oil holding up, dollar WAY down today, and gold simply running out of steam. Expecting a more lengthy consolidation phase here.
If this were just a hiccup like on the AAPL or NFLX chart, it'd have been over with by now.
Shhhh! I'm loving a lower price. Not done buying yet.
Yes if someone wants to drop the knife please drop it.
http://www.youtube.com/watch?v=LBereoyktJY&feature=related
I am hoping and that this knife keeps falling until the end of next week so I can make one last purchase of silver bullion. I buy from a local dealer who made a serious fortune in the late 70's and 80's and is getting ready to make another fortune this time.
Remember those lovable bears:
"Expect a downward fiat price move soon."
"But watch for the open interest on the metals."
"Will be perfectly timed with the CFTC hearing."
Damn, those bears are good!
Listen at 4:08:
http://www.youtube.com/watch?v=AId_UiPtPpQ
+BTFD
Had to go back and listen again.
on Thu, 01/13/2011 - 15:16
#873985
Remember those lovable bears:
"Expect a downward fiat price move soon."
"But watch for the open interest on the metals."
"Will be perfectly timed with the CFTC hearing."
Damn, those bears are good!
Listen at 4:08:
http://www.youtube.com/watch?v=AId_UiPtPpQ
**************************************************************************
did you doubt the bears? why man? why? the bears are truth, they shine like a....
Just kidding, but like the bears said... if you want to invest... invest... but this aint that.
Failure to deliver March contracts premium 30% or more?
Hammy had it right again - already in european morning: http://marketcyclesresearch.blogspot.com/2011/01/imho-we-are-very-close-to-next-sell-off.html
And guess what - IMHO this is not the end yet. we will see considerable lower prices. A fortune on this raid south - and another fortune afterwards when we sprint north again!
Man this is fun!
Silver Eagles are so 1998. I'm all about the .9999 Maple.
+200 oz - I love the Maples too
love the reverse but the obverse is unbearably u-g-l-y.
Before the loonie POS, there was the 'Goose'
http://dealnay.com/80644/canada-1967-centennial-ounce-silver-dollar-goose-coins-royal-canada-mint.html
Are there any double or triple silver ETFs that is either long or short?
HZD.to(bear) HZU.to(bull)
Still no shortage of silver for industrial use. Until we get some word that silver is in short supply for our (industrial) usage, I am inclined to believe that the bullion holders are dumping inventory on bagholders that otherwise has been sitting dormant, gathering dust, for ages.
Will let you know if and when that changes.
Right, when food shortage will drastically effect price of food in the US and a family has to ponder whether to sell their last ounce for $30 or buy their last family dinner.
Think about it. $30 is NOTHING compared to what a family needs every day to survive.
The Dollar is about to go teets up, it's a fact. Bartering with silver is the only logical choice.
Farmers will accept silver for food like they've done last century when famine struck.
They won't accept a fantasy paper currency backed by nothing.
There is no dumping of physical silver happening. Not at all. It's manipulated and it will come back to bite them all in their arses when its apparent that there is no market for the metal at the manipulated price.
Warren Buffett sold his entire silver holding of 130 million ounces at $7.50 per ounce based on the same logic back in 2006.
I like the Plat on front page. Beautiful coin. Hasn't moved like the "lesser" Eagles.... I wonder why that is?
First of the year is when the first green boxes roll to get First Strike Certs. Expect more volume, but I'm certainly not discounting any PM vs fiat debate.
I wish there was somewhere to run to until $Benny gets _______ by the masses.
(exposed?)
If ZH ever does decide to issue silver coins of its own, it would just about have to be called the "Silver Bitch" wouldn't it?
LOL- "Silver Bitchez" or some other plural derivative, no pun intended ;-)
I love it! With Blythe as the bitch? LOL Picked up both silver and a little gold today. Maybe more tomorrow, will see what friday brings.
Buying the physical metal is usually a sign of the last stages of a bull market.
Spreading disinformation is usually a sign of the last stages of a bullshit market.
You've got that market cornered.
Whalers is correct. We ain't there yet though. When, as in 1980, people are lined up for blocks to buy bullion, we will be there.
My dealer has photos of people camping in his parking lot in 1980 so they would not lose their place in line.
PS... I will be in that line also. I will be selling to the ones waiting to buy >:-//
Silly people waiting in line in 1980! Why didn't they just buy online as everyone is doing today?
might be but I know several people in the wholesale PMs business and every Tom Dick and grandma is still selling all their junk.
The sales to the refiners of scrap are huge.
So are people net buyers or are they net sellers? That 3M SE sales this month is nothing when I know jewelry stores that are taking in 100s of thousands of ounces per month each in scrap sale and yet the price is still in the high $20s.
Real net purchases are not close to being on the radar yet but when the purchases/sales number turns positive solver will go to infinity when measured in dollars.
The mint I buy from (one of the bigger private mints in the US) says buyer:seller ratio has been 10:1 for the last 6 weeks with the buyers buying a lot more silver than the sellers are selling. It's taking longer for them to get their silver blanks despite having contracts with two of the bigger (NYSE listed) silver miners. The mint's order to ship times have doubled in the last two months. I called about an order last week. The fulfillment clerk said they had a bunch of multimillion dollar orders in late Nov/early Dec. It's backed them up a lot.
Usually at the last stage of any bull market, the final participation is due to fear. Fear to be left out.
Retail top ticked the market as usual. Now they're all sitting on $1+ losses (that are rapidly increasing). Better buying opportunities exist at 26 and 22-23 for new highs later this year or 2012.
Dear Friend of GATA and Gold:
Today's commentary at the GoldCore blog by Mark O'Byrne notes the seemingly coordinated selling of gold on the London PM fix and the unwillingness of the financial news media and many gold market analysts to confront the evidence of market manipulation produced by GATA over the years. O'Byrne's commentary is headlined "Gold Manipulation? Important Gold Chart -- 1,000 Days of Average Intraday Prices" and you can find it at GoldCore here:
http://tinyurl.com/6cc6s5r
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold is now crashing in Euros.
ON what volume?!?!?!
That was the first thing I looked at too!!!
I like it better when Robo gives me babes to look at.
More titties, less stupidities, I say...
LOL
I two titties that.
Insert Comment here.
Die RobotTroll. Just die.
The Chinese and Indians are very happy! Delivery bitches!
IF: market crashes
THEN: upload chart
ELSE: activate robotroll
RETURN
Right, because the Euro is just looking so strong these days...
I'm just mentioning this, not sure if it means anything. Edmund Moy didn't make it easy to get eagles, but he didn't make it impossible either....
Director of United States Mint Resigns - effective January 9.
http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1190
Getting while the getting's good to get gone?
on Thu, 01/13/2011 - 15:28
#874060
I'm just mentioning this, not sure if it means anything. Edmund Moy didn't make it easy to get eagles, but he didn't make it impossible either....
Director of United States Mint Resigns - effective January 9.
http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1190
**********************************************************************************
Physical Delivery from the Mint was pushed back 2 weeks... over the Holidays or post this action.
hope he does not end up in some landfill.
I wish the default on the way these comments were listed was newest first.
The Fed is clearly worried about the fact that stagflation is raising its head in a way that can not be easily buried. With food and energy and most other commodities sharply higher, it won't be long before other inflation measures start to rise sharply.
Combine that with the major downward revisions in the Philly Index and the Chicago PMI reported here on Zero Hedge earlier along with the poor showing in the jobless claims and the flashing "Hyper Stagflation" indicator is flashing red.
The Fed's response is predictable: Shoot the Inflationary Messenger: Gold and Silver
So while all physical demand indicators in gold and silver are off the meter, the giant too big to fail Primary Dealer Bullion banks use all of their opaque means to apply naked leverage on markets which would otherwise be soaring.
As more and more of us average investors begin to understand what the Fed is doing and the real fundamental picture between QE, debt, deficit, interest rates and the Ponzie scheme, each of these naked raids becomes a buying opportunity and the kick the can down the road and extend and pretend tactics utilized simply signal "Buying Opportunities".
Keep In Mind when looking at silver prices:
Silver inventories have declined from 10 billion ounces in 1940 to 1 billion today! And the stuff is higher demand than ever.
Disclosure: I've moved all of my IRA based SLV to the Sprott Physical Silver Trust: PSLV.
Duffminster
Yeah how convenient, I opened a silver position today and now im getting raped. This always happens to me lol.
Cost average man. This is a normal monetary authority response to the inevitable hyper inflation that is coming. Its called "shoot the messenger." Gold and silver are the two primary historical measures of inflation and the Fed knows that.
Buy on the pullbacks, don't use margin, buy physical or trusted proxies and hold. If you have to trade sell 30% into strength and then buy again. That is Jim Sinclair's advice.
Every time they make these naked raids, buy physical silver or something that is a trusted proxy. In my opinion, that isn't SLV. I do trust PSLV to buy and hold proportionate silver and not use it in any way as a hedge against shorts.
No more money to cost average, I went all in.
How much premium did you pay?
If it's under $3.00/oz you'll be just fine. And don't forget to factor in shipping.
It is important to remember the big picture. In 1975 gold dropped by almost 50% from something like $210 to $105. A lot of longs were shaken out and never returned to the market for it's eventual 1980 blow-off high.
Hedge baby, hedge. I learned the hard way too.
I had my gold position a few years back drop by 20% and my last big silver purchase last spring drop two bucks within a few days. So hold on your not in a bad spot this stuff is going higher just be patient