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US Mint Sells Record 4.2 Million American Eagle Silver Coins In November

Tyler Durden's picture


In what is becoming a very sad development, the more money (pardon, monetary base) Bernanke prints, the more silver coins Americans buy. According to the US Mint, November sales of silver just hit 4.16 million ounces or coins, an all time record, since the introduction of the coin in 1986, and that does not even include the last day of the month. The number is roughly a 30% increase to the 3.15 million one-ounce Eagles sold in October, and well above the previous 2010 record of 3.6 million sold in May. So far in 2010, the mint has sold 32.8 million ounces of silver, higher than the previous full year record of 29 million coins set in 2009.

More from Reuters:

"The underlying, basic reasons for the silver market's rise are really gold-oriented, but the speculative element of silver continues to be a big driver," said Bill O'Neill, partner of New Jersey-based commodities firm LOGIC Advisors.

O'Neill said that a well established retail coin-dealer network helped increase sales of the silver Eagles. He called silver a "speculative playground" and does not recommend trading it due to high volatility.

Silver, gold and platinum group metals have benefited from the fiscal crises in Greece, Ireland that could also spread to other European nations, lingering worries about economic growth and inflation concerns.

Oddly, the scramble for precious metals was not mimicked in a surge for gold, which sold "only" 103k ounces,  including 99.5 one ounce coins. And to point out an error in the Reuters' article math, the June sales were not 452,000 ounces but coins, while the actual ounce equivalent sold was 151,500 ounces. So far the most active month in US mint gold coin purchases was May when 190k one ounce gold coins were sold.

We can merely speculate that the Krieger/Kaiser plan of bankrupting JPMorgan through a popular scramble for physical is if not working, then certainly getting ever more supporters.


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Tue, 11/30/2010 - 17:26 | 765688 RobotTrader
RobotTrader's picture

The paper shorting of SLV and naked shorting of silver stocks has never been higher.

And panicked sheep are out there buying up coins.

Something is going to blow soon.....

Tue, 11/30/2010 - 17:28 | 765695 redpill
redpill's picture

I think those shorting SLV are the ones panicking.


Tue, 11/30/2010 - 17:31 | 765710 TheGreatPonzi
TheGreatPonzi's picture

Robot, who are you and what are your motivations, exactly?

Tue, 11/30/2010 - 17:39 | 765741 nope-1004
nope-1004's picture

I heard once that buying a home was safeguarding your capital and future.  Hard asset, easily saleable, growing population exerting more demand, limited supply, price always going up.


I hear recently that PM's are a good way to safeguard your capital and future.  Hard asset, easily saleable, growing population exerting more demand, limited supply, price always going up.


Good thing history never repeats.


Tue, 11/30/2010 - 17:44 | 765774 cossack55
cossack55's picture

How many homes can you fit in your pocket and pass over a counter for a loaf of bread?

Tue, 11/30/2010 - 18:10 | 765934 duo
duo's picture

my gold doesn't need $5300 in property taxes and insurance every year.

Tue, 11/30/2010 - 18:38 | 766032 dnarby
dnarby's picture

...And it has no problem finding a buyer anywhere in the world.

Tue, 11/30/2010 - 18:51 | 766085 chopper read
chopper read's picture

bbbut, but, but.  oligarchial fascist apologizers unite.

...the rest of us will keep buying physical. 

+ 500

Tue, 11/30/2010 - 19:06 | 766157 lynnybee
lynnybee's picture

BINGO !!!   Best comment yet ! ........... my thoughts exactly ! 

Tue, 11/30/2010 - 18:15 | 765960 destraht
destraht's picture

Exactly. I'm completely invested into my digital technology, my education and metals. All of which can be brought and sold anywhere.

Tue, 11/30/2010 - 17:46 | 765784 Kaiser Sousa
Kaiser Sousa's picture

the ignorant where once told the world was flat...somone investigated that claim and discovered otherwise n a quest for knowledge...u believe what u hear u deserve what results...There r only 2 forms of real money - Gld and Silver...dont take my word for it a historical monetary analysis...and yes, n that regard history is repeating itself...

Tue, 11/30/2010 - 17:46 | 765787 Internet Tough Guy
Internet Tough Guy's picture

The 'everything is everything' canard. That's an old one.

Tue, 11/30/2010 - 22:26 | 766639 Founders Keeper
Founders Keeper's picture

[The 'everything is everything' canard. That's an old one.]---Internet Tough Guy


Arguing this one is just too easy.


Tue, 11/30/2010 - 17:48 | 765798 43 Steelie
43 Steelie's picture

Are you taking out loans twice your net worth to buy precious metals?

Yeah, me neither. The comparison ends right there.

Tue, 11/30/2010 - 18:50 | 765823 akak
akak's picture

Beautiful rebuttal!

But of course, it is pathetically easy to rebut the lame and simplistic arguments of the gold-hating paperbugs.


PS: I just LOVE watching the "junks" accumulate under each one of Robotshitforbrain's every posts.

Tue, 11/30/2010 - 18:53 | 766092 chopper read
chopper read's picture



perfect.  first time i've heard that.  much shorter than 'oligarchial fascist apologizers'. 



Tue, 11/30/2010 - 19:13 | 766183 akak
akak's picture


'paperbugs' .... perfect.  first time i've heard that.

Then you clearly have not been spending enough time in the ZeroHedge forum!



Actually, I think the phrase "paperbug" is not damning enough for such people, but it does fit them, and is appropriate counterplay to their much-used and smug pejorative "goldbug".

"Paperlemming" might be more fitting.

Tue, 11/30/2010 - 20:01 | 766339 -Michelle-
-Michelle-'s picture


Tue, 11/30/2010 - 21:42 | 766554 Dollar Damocles
Dollar Damocles's picture

Paper money is for economic slaves.  Saving your wealth in fiat is a sign of economic and intellectual slavery.  It is indicator of an irrational faith in government, which is a symptom of state-worship and is religious in nature.  A dollar-centric world view stems from a state-centric world view.  There is a saying, that the idol you worship is the idol that kills you.  These people will go down to disaster as a result of their misplaced faith.  There is a deep philosophical connection between belief in lies and death, and belief in truth and life.  If you believe economic lies, you will suffer economic death.  Intellectual slaves end as economic slaves, it is that simple.

Tue, 11/30/2010 - 22:36 | 766664 tewkatz
tewkatz's picture

You guys sound like Democoins and Repubfiats...Money can be made in either and both are salable (much like Democrats and Republicans, I hear...). 


Wed, 12/01/2010 - 00:05 | 766910 Dollar Damocles
Dollar Damocles's picture

I am not an religious gold bug either.  Gold is just a tool.  There will be a time to transition from gold into more productive use of capital.  But I will never own bonds or store my wealth in paper money as a matter of principal.  What is a bond(age)?  When a government borrows, it is saying "I promise you (the lender) that some of the future fruits of labor of my slaves will belong to you".  The bond purchaser (slave owner) says "I will loan you wealth today based on your ability to steal appropriate wealth from your slaves in the future with interest".

This is why Jefferson was opposed to government borrowing, because he understood the deeper philosophical ramifications and tyranny behind government borrowing.  There is a moral and an immoral way to make money.  The moral way is to create value and produce, the immoral way is to use the political means (force and wealth redistribution).

This is why I refuse to lend money to governments or to save in paper money (which empowers criminal banks).  There may be a time when owning government bonds is enriching, and when saving in paper money is safe.  But there will never be a time when it is moral.

Gold is a tool, a capital (productive) good.  Just like a shovel - a capital (productive) good, it is has a use in it's time and place to leverage human productivity.  A shovel can dig a hole, it can't move you from california to singapore - for that you use a boat or a plane, also tools which lever human labor.  Gold is a tool with specific purpose and a useful time and place in life.  When it's usefulness is finished and it's productive capacity has peaked, I will pick up the next tool.

Wed, 12/01/2010 - 00:33 | 766958 nuinut
nuinut's picture


Wed, 12/01/2010 - 02:23 | 767168 chopper read
chopper read's picture

again, well put.


gold is a transportable, intermediate storage place for value.  

Wed, 12/01/2010 - 02:19 | 767162 chopper read
chopper read's picture

that was a pleasure to read, DD.  sincerely.  well put, chap. 

Tue, 11/30/2010 - 17:55 | 765841 nope-1004
nope-1004's picture

You may not be, I may not be, but you gotta know that there are some big players who are.  And when TPTB decide to reverse course, we all sink with it.

That's my point.  Put all the rationality you want in the case for whatever commodity you choose.  But I'd suggest that if everyone is jumping on the same band wagon, it may be time to think twice.

Tue, 11/30/2010 - 18:03 | 765894 Kaiser Sousa
Kaiser Sousa's picture

when u can show us the market caps across all asset classes and break down the amount of funds investors have placed n those classes relative to one another, addtionally delineating the supply demand dynamics of each class, then u can obliquely refer to a bubble...of course u'll be wrong again....

Tue, 11/30/2010 - 18:24 | 766005 Roi
Roi's picture

Ever heard of leveraged short sellers of houses? Me niether...

Tue, 11/30/2010 - 18:30 | 766020 Red Neck Repugnicant
Red Neck Repugnicant's picture

Ever heard of John Paulson?

Me neither.

Tue, 11/30/2010 - 19:13 | 766184 FatFingered
FatFingered's picture

Blythe's invention, so I hear.

Wed, 12/01/2010 - 00:48 | 766983 nuinut
nuinut's picture

nope-1004, you seem to be confusing paper gold with physical gold. They are actually complete opposites, and in that regard you are correct: paper gold will crash and burn.

It will take the rest of the monetary system to which it provides liquidity down with it, and at that time physical gold will demonstrate its value.

Your view of gold appears narrow and erroneous.

Tue, 11/30/2010 - 18:01 | 765877 ZackLo
ZackLo's picture

Lol I am taking out a loan 2x my net worth for pm's, well 5x but I'm only 19 so I got the time if I'm wrong;)

Tue, 11/30/2010 - 18:10 | 765935 Spalding_Smailes
Spalding_Smailes's picture

“If you own your own home free and clear, people will often refer to you as a fool. All that money sitting there, doing nothing.”

- Anthony Hsieh, CEO Lending Tree

Tue, 11/30/2010 - 18:46 | 766070 Dr. No
Dr. No's picture

I love those quotes.  You've got a bunch and they are great!

Tue, 11/30/2010 - 18:52 | 766086 Spalding_Smailes
Spalding_Smailes's picture

Mozilo reached out to borrowers as part of a "little experiment" to understand the reasoning behind making only minimum payments on so-called pay-option loans, a practice that boosts the total amount due, the 67-year-old CEO told investors Wednesday in New York.

"What we're finding out is that they're pretty smart," Mozilo said. "It's like voters: Individually they're sort of idiots, but collectively they seem to make the right decisions."

"CEO Makes Call on Pay-Option Loans: It's Risky", from Bloomberg News.

Tue, 11/30/2010 - 17:49 | 765800 Xibalba
Xibalba's picture

You forget that PM's have zero credit risk.  If you own your home without any debt, taxes, or maintenance fees you're doing alright. 

Tue, 11/30/2010 - 18:25 | 766007 Dr. No
Dr. No's picture

"If you own your home without any debt, taxes, or maintenance fees you're doing alright" 

Without taxes or maintenance fees (lawn mowing, paint, etc I presume)?  Where is this possible?

Tue, 11/30/2010 - 18:56 | 766101 chopper read
chopper read's picture

he's saying (indirectly) that gold has none of these.  read again slowly.

Tue, 11/30/2010 - 17:54 | 765832 Hephasteus
Hephasteus's picture

I heard once that parroting is easy. You make a stupid arguement. Get people to parrot it and it catches on just because so many people think something is being said.

Tue, 11/30/2010 - 18:08 | 765915 Kaiser Sousa
Kaiser Sousa's picture

precisely...thats why the global economies r n the condition there n....the bankers continue to consolidate wealth made possible by a dim witted citizenry who they have been able to convince that debt coupon based paper shit is money and what has been money for thousands of years is only good for fillings and jewelry...

what r u gonna do...some people were born to b marks....

Tue, 11/30/2010 - 18:04 | 765869 TheGreatPonzi
TheGreatPonzi's picture

Homes are not exactly what I would brand a currency. It's not very movable, not very durable, and not very divisible.

That was the quickest answer.



The longest is :

"I heard once that buying a home was safeguarding your capital and future.  Hard asset, easily saleable, growing population exerting more demand, limited supply, price always going up."

Easily saleable = nope. Limited supply = nope. Wood is a renewable resource, work is a renewable resource, maybe the only things which are in "limited" supply are concrete, copper, plastic and plaster. Price always going up = this is not an argument, but rather something which would made me flee away.

You also forgot two things: real estate is local, PMs are international. And most of all, real estate is funded by credit, not PMs.

Tue, 11/30/2010 - 18:18 | 765976 destraht
destraht's picture

Until the credit system collapses it seems to me like everything is credit and debt driven. I'm buying my PM with debt notes.

Tue, 11/30/2010 - 18:59 | 766116 chopper read
chopper read's picture

ha, ha.  good call. 


if gold was not real money, then FDR would not have needed to take it away to enact Keynesian Economics in 1934.  simple.

Tue, 11/30/2010 - 19:18 | 766210 puckles
puckles's picture

Yes, gold is money, but like currency, it has fluctuated over the years.  Let's not forget how long it took gold to retrace its early 80's high of $800: around 15 years, during which period--assuming one had bought and held--by 2000, one would have lost close to 65% of the original investment in fiat terms, while at the same time inflation was raging at double digits in the early-mid 80's.  Greenspan, of course, put an end to that.  Sort of.

I buy nothing--PMs, houses, or anything else--with leverage; it can bite you back so hard, you'll be unconscious before you knew what bit you.  Just a small word of advice in trying times.

Tue, 11/30/2010 - 19:36 | 766263 Mike7.62
Mike7.62's picture

Take your scope back to 1975 when we were again "allowed" to own gold and it was $150/ozT. Nominally, you were still ahead at the "Brown Bottom" in 2000. If you want to adjust for inflation, we're still miles from the 1980 high. BTW, I think it was Paul Volcker, not Greedscam who had the balls to raise the FF rate above the rate of inflation and finally slay the beast. He simultaneously saved the FRN$ and took the wind out of golds sails. We won't be seeing a repeat of that today, as we cannot afford the interest payments.

Tue, 11/30/2010 - 23:19 | 766749 Founders Keeper
Founders Keeper's picture

[Take your scope back to 1975 when we were again "allowed" to own gold and it was $150/ozT. Nominally, you were still ahead at the "Brown Bottom" in 2000. If you want to adjust for inflation, we're still miles from the 1980 high.]---Mike7.62

Agreed.  I don't know why even the most learned of us forget to take inflation into account.

By the way, Mike7.62, would that be

x 39

x 51

x 54R?

Thanks again for your post.

Wed, 12/01/2010 - 00:51 | 766989 Mike7.62
Mike7.62's picture

All three, depending upon situation and locale.

Tue, 11/30/2010 - 22:09 | 766605 dark pools of soros
dark pools of soros's picture

i do wonder why the gold bugs scorn overpaying for land/home when the same can be said about overpaying for gold/silver.. but for either, who cares since it is just crap debt money..  overpay without worry since in the end it remains the value of what it is -

Tue, 11/30/2010 - 22:26 | 766640 tmosley
tmosley's picture

You can't exponentially increase the supply of gold and silver as you can with houses.  If builders had been limited to a 3% increase in housing inventory per year, the housing collapse would have been much less severe.  If there were no taxes or maintenence costs on those properties, there would have been no burst, but only a levelling off of prices, as will happen eventually with gold and silver.

Tue, 11/30/2010 - 23:23 | 766778 delacroix
delacroix's picture

you don't buy gold or silver, you exchange currency, for a superior currency, which is also real money.

Tue, 11/30/2010 - 18:02 | 765884 augmister
augmister's picture

Point up +1.... the "bubble heads" just never get it!  The PMs will crash with EVERYTHING else...  Bricks of ammo, not shiny.   I get my bricks of ammo and take away your shiny..BITCHES!!!

Tue, 11/30/2010 - 18:03 | 765895 midtowng
midtowng's picture

Where would you get the idea that PM holders don't also own guns?

Tue, 11/30/2010 - 18:14 | 765951 Kaiser Sousa
Kaiser Sousa's picture

"Where would you get the idea that PM holders don't also own guns?"

from the brick between his sholders no doubt....


Tue, 11/30/2010 - 19:10 | 766169 Hephasteus
Hephasteus's picture

Ammo horders. The funniest people to set on fire.

Wed, 12/01/2010 - 03:35 | 767234 StychoKiller
StychoKiller's picture

Give a man a match and you've warmed him for a day.  Set him on fire and you've warmed him for life! :>D

Tue, 11/30/2010 - 19:37 | 766267 Mike7.62
Mike7.62's picture

Exactly. Rule 7.62 for looters.

Tue, 11/30/2010 - 20:29 | 766406 Vendetta
Vendetta's picture

They will go house to house shooting people to get whatever PMs they might have ... somehow this is considered an acceptable practice that won't be met likewise with force.  Considering how few physical PM owners there are out there ... my guess is their 'gun theory' won't work out too well for them.

Tue, 11/30/2010 - 21:35 | 766536 Sub Dude
Sub Dude's picture

Or guns made of gold - AK-47k

Tue, 11/30/2010 - 19:13 | 766181 SilverRhino
SilverRhino's picture

You poor deluded fool.    A man with a stack of ammo is just a man.  

A man with guns AND PM's can hire mercenaries to take your piss-poor planning and pathetically performing ass OUT.



Tue, 11/30/2010 - 18:03 | 765886 midtowng
midtowng's picture

What was your source of information about homes, and what was the source of information about PM's?

Or do you consider all sources of advice to be the same?

Tue, 11/30/2010 - 18:07 | 765910 Bay of Pigs
Bay of Pigs's picture

Fitting handle....NOPE.

97% (maybe more) of Americans have no exposure to PM's. Get it now?

Tue, 11/30/2010 - 18:12 | 765946 UncleFurker
UncleFurker's picture

Gold and silver are far better stores of value than a house. Especially long-term. bitchez!



Tue, 11/30/2010 - 18:15 | 765957 gmrpeabody
gmrpeabody's picture

Weak attempt to be clever..., very weak.

Tue, 11/30/2010 - 18:21 | 765989 malek
malek's picture

"For everything there is a season, and a time for every purpose under heaven."

Just make sure you have your calendar right.

Tue, 11/30/2010 - 21:39 | 766541 Al Gorerhythm
Al Gorerhythm's picture

Yup, Going out in a -40 blizzard dressed in an Hawaiian shirt, board shorts and flip flops, is akin to not having PMs in your hand when asking for a loaf of bread in a currency war. Turning up with a piece of paper in a metals fight? Ain't no one going to trade his metal weapon for a bundle of paper in that rumble.

Tue, 11/30/2010 - 18:37 | 766041 dnarby
dnarby's picture

I heard once that buying a home was safeguarding your capital and future.  Hard asset, easily saleable, growing population exerting more demand, limited supply, price always going up.


I hear recently that PM's are a good way to safeguard your capital and future.  Hard asset, easily saleable, growing population exerting more demand, limited supply, price always going up.

Thanks, I always wondered what kind of a monumentally stupid fucktard would compare an illiquid, immovable, maintainence-needing, local market wage-dependent asset to a super-liquid, super-portable, super-durable, non-wage dependent asset.

Quick, claim you were joking before you have to create a new ID!

Tue, 11/30/2010 - 21:05 | 766480 Calmyourself
Calmyourself's picture

"Thanks, I always wondered what kind of a monumentally stupid fucktard would compare an illiquid, immovable, maintainence-needing, local market wage-dependent asset to a super-liquid, super-portable, super-durable, non-wage dependent asset."

"Love the smell of napalm in the morning, smells like victory"

Nicely done, dnarby

Tue, 11/30/2010 - 18:45 | 766067 Bastiat
Bastiat's picture

"I heard once that buying a home was safeguarding your capital and future"   

Yeah, that was true for about 50 years -- it wouldn't have lasted that long except for some true lending/leveraging insanity towards the end.   When we have 30yr, no doc, NINJA, pay-option mortgages on gold let me know, eh? 

Tue, 11/30/2010 - 19:42 | 766280 TheProphet
TheProphet's picture

Shit. That's funny. Can't believe people are flaming you. This is funny stuff.

Tue, 11/30/2010 - 23:11 | 766747 Black Friday
Black Friday's picture

There is a difference between housing and real estate. One is a depreciating asset, the other is a hard asset.

There is no limited supply of housing, only property.

The rule for success in real estate is: location, location, location.

The rule for gold is: He who has the gold, makes the rules.


Tue, 11/30/2010 - 17:41 | 765751 Kaiser Sousa
Kaiser Sousa's picture

"Robot, who are you and what are your motivations, exactly?"

doesnt matter...his idiocy is salient and well documented...i suggest doing what i do...just scroll past.


Tue, 11/30/2010 - 17:46 | 765782 oddjob
oddjob's picture

Robo is long Silver...even posting a PAAS chart gave that away.

Tue, 11/30/2010 - 17:44 | 765775 jomama
jomama's picture

to get people riled up - it is entertaining, after all!

Tue, 11/30/2010 - 17:46 | 765786 JonNadler
JonNadler's picture

he's me with big tetas

Tue, 11/30/2010 - 17:52 | 765819 tallystick
tallystick's picture

Jon what happened to your RT avatar?  Is the image in an unallocated account?

Tue, 11/30/2010 - 18:09 | 765927 DoChenRollingBearing
DoChenRollingBearing's picture

Au to $0.02

Ag to $0.01

Tue, 11/30/2010 - 18:14 | 765953 JonNadler
JonNadler's picture

thanks DoChen, little slow today

Tue, 11/30/2010 - 18:31 | 766021 DoChenRollingBearing
DoChenRollingBearing's picture

You can't eat them either.  What else?  Uhm...

Tue, 11/30/2010 - 18:37 | 766043 JonNadler
JonNadler's picture

silver is in a massive bubble, not the ones you see in Senor Tetas posts though

Tue, 11/30/2010 - 19:37 | 766095 Rusty Shorts
Rusty Shorts's picture



No Comment.

Tue, 11/30/2010 - 21:28 | 766521 Jendrzejczyk
Jendrzejczyk's picture

A while back you pulled the same avatar gimmick and I thought Cougar went a bit overboard vilifying you. You are amusing (usually) and enjoy your presence.

After your schtick, I doubted every avatar for a week and had to check to see who I was reading. There are trusted/interesting members who we scroll for and it is annoying and disruptive to have to double check.


Tue, 11/30/2010 - 22:31 | 766655 tmosley
tmosley's picture

The satire is simply DRIPPING from his posts.  If you can't tell, then you've got bigger problems.

Tue, 11/30/2010 - 23:04 | 766726 Jendrzejczyk
Jendrzejczyk's picture

Fully aware of the satire and enjoy it as stated. The avatar switching is annoying.

Tue, 11/30/2010 - 23:20 | 766757 Jendrzejczyk
Jendrzejczyk's picture

Incidentally, your avatar is one of the few I scroll for and appreciate your contributions (painfully aware that I have bigger problems also) .

Wed, 12/01/2010 - 01:11 | 767037 tmosley
tmosley's picture

No big deal.  We all have big problems, whether we can instantly identify the tone of someone's writing or not (this ability was drilled into me by my high school English teacher, who's excellent tutelage allowed me to CLEP out of all of my college English classes with one test that I took cold).  

Thank you for the kind words.

To paraphrase Palahniuk: "You are not your avatar."

I would really prefer that we were all anonymous.  Most of these types of discussions are really best served by removing egos from the equation, and allowing people the opportunity to learn without being labelled as "wrong", and also allowing people to escape the escalating investment trap, which has trapped people like Johnny Bravo.  If IDs were only visible to the poster and to Tyler's group, and everyone else just saw post count, and some form of reputation meter (positive only, with numbers varying for each user, ie you vote on comments, and the software remembers your choices, and possibly an agglomerated number for all rankings).

If people want recognition, they should be able to post articles/content under their usernames, again with commenters being forced anonymous.  This seems to fit the "Fight Club" philosophy more than the current system.  The crowd is loud, but anonymous.  The only people that you know are the ones in the center.  Might also have the ability to make debate threads, where only two people's IDs are visible.

If things continue as they are, it'll likely be continuing 5 (or more) on 1 squabbles in perpetuity, eternally degenerating into name calling and ad hominems.  Great thing about anonymity, ad hominems just don't work.  You can only criticize the validity of the argument presented.  It also doesn't allow people to claim that they have explained things before when they haven't, or when they have done so in a poor manner, and pretend like it is everyone else's problem.

Bit of a rant, Tyler can take my suggestions and consider them if he wants. 

Tue, 11/30/2010 - 20:20 | 766386 High Plains Drifter
High Plains Drifter's picture

Robo's motivations are simple. He likes to lope the mule.

Wed, 12/01/2010 - 00:23 | 766943 A Nanny Moose
A Nanny Moose's picture

He just wants to pay a lower price for his PMs. So do I. I am just more overt and do not play these pussy cloak and dagger games.

Now stop buy my shit and driving up the price, bitchez!!!!

Tue, 11/30/2010 - 18:24 | 766006 Brutlstrudl
Brutlstrudl's picture

I'd like to know where SLV is getting the silver. I'm probably going to find out soon.

Tue, 11/30/2010 - 19:13 | 766185 delacroix
delacroix's picture

they're not

Tue, 11/30/2010 - 22:13 | 766615 spinone
spinone's picture

Does it ring when you drop it?


Then its not silver.

Tue, 11/30/2010 - 22:56 | 766699 False_Profit
False_Profit's picture



Tue, 11/30/2010 - 17:41 | 765760 akak
akak's picture

RobotTraitor, you are simply a troll and a fucking asswipe.

Why Tyler continues to tolerate your antagonistic trolling in this forum is beyond me.

Tue, 11/30/2010 - 17:43 | 765769 jomama
jomama's picture

decaf go

Tue, 11/30/2010 - 23:01 | 766715 akak
akak's picture

Bite the wax tadpole!

Wed, 12/01/2010 - 03:41 | 767241 StychoKiller
StychoKiller's picture

It takes a hard man to make a chicken amorous! :>D

Tue, 11/30/2010 - 17:59 | 765865 B9K9
B9K9's picture

Why get so worked up? RT, Wanker and other trolls provide comic relief. And at a fundamental level, they do at least provide some insight as to the mindset of the 'winners', even if they themselves are outsiders.

Besides, isn't there a smidgen of respect & admiration for the present crop of apex predators? It's tough staying on top; look at all the people (many included @ ZH) who would like nothing better than to displace them as the new apex predators.

As I've mentioned before, unless the existing PTB figure out a way to increase per capita energy utilization, their wonderful ponzi game cannot continue. During the fallout, there is going to be all sorts of opportunities to displace them as the top dogs.

Who here woudn't immediately begin initiating the very same programs of repression & propaganda given 1/2 the chance?

Wed, 12/01/2010 - 00:57 | 767000 trav7777
trav7777's picture

ah hell, I'd go all eugenic on they azzez

Wed, 12/01/2010 - 03:43 | 767245 StychoKiller
StychoKiller's picture

Step one:  MANDATE a license, based on Intelligence, to have children.

Tue, 11/30/2010 - 20:21 | 766388 High Plains Drifter
High Plains Drifter's picture

He does post some pretty girly pics though.

Tue, 11/30/2010 - 17:46 | 765788 iota
iota's picture

It's got a while to run yet.

Also when it goes this time round, it all goes.


Tue, 11/30/2010 - 17:49 | 765801 JonNadler
JonNadler's picture

you can't eat silver eagles! tell him Robot

Tue, 11/30/2010 - 18:16 | 765965 A_MacLaren
A_MacLaren's picture

Get your own avatar...  Sheesh...

Tue, 11/30/2010 - 17:50 | 765810 tallystick
tallystick's picture

Sheep are buying netflix,

Citizens are buying coins.

Tue, 11/30/2010 - 17:55 | 765838 redpill
redpill's picture

Sheep are buying netflix,

Sovereign Individuals are buying coins.



Tue, 11/30/2010 - 18:16 | 765962 cranky-old-geezer
cranky-old-geezer's picture

Sovereign individuals? 

Like those sovereign individuals letting government perverts probe their privates at airports? 

Some sovereignty.

Tue, 11/30/2010 - 18:26 | 766008 redpill
redpill's picture

Go junk your mother, cranky old geezer

Tue, 11/30/2010 - 20:08 | 766356 cranky-old-geezer
cranky-old-geezer's picture

I didn't junk you. 

Wed, 12/01/2010 - 00:27 | 766949 A Nanny Moose
A Nanny Moose's picture

Sovereign individuals have largely forsaken flying.

Sheep still pile into flying aluminum tubes

Wed, 12/01/2010 - 03:45 | 767246 StychoKiller
StychoKiller's picture

Hear, hear!  I'd rather drive to a destination than put up with even MORE indignity at the hands of the TSA!

Tue, 11/30/2010 - 17:58 | 765861 Rusty_Griswold
Rusty_Griswold's picture

Seriously, trolls usually post once or twice and leave. You have f'ing dumb charts on penny stocks and are beyond annoying. The only thing that's going to blow soon is one of your two dads.

Tue, 11/30/2010 - 18:04 | 765900 Bill Lumbergh
Bill Lumbergh's picture

I for one am glad the panicked sheep are not buying stocks like AAPL, NFLX, PCLN where there are true fundamentals and great valuations.


Tue, 11/30/2010 - 21:08 | 766487 Calmyourself
Calmyourself's picture

NFLX, true fundamentals ehh..  Comcast is about to fundamentally rip their business to shreds.  Comcast owns the last half mile pal..

Tue, 11/30/2010 - 23:31 | 766806 delacroix
delacroix's picture

pcln market cap 19.3 billion? they,re not a business, they're a business model.

Tue, 11/30/2010 - 23:17 | 766756 Fred Hayek
Fred Hayek's picture

What do you hear about Initech?

Wed, 12/01/2010 - 03:46 | 767248 StychoKiller
StychoKiller's picture

Go long Brawndo!

Tue, 11/30/2010 - 18:07 | 765908 AR15AU
AR15AU's picture

Nice job on trolling the site.

Buying physical metal is the antithesis of panic. Panic is when you hold paper assets at a bank and are watching CNBC when everything goes to Zero. 

Tue, 11/30/2010 - 18:21 | 765986 cranky-old-geezer
cranky-old-geezer's picture

Paper assets won't go to zero.  They'll keep rising in nominal terms.  But they won't be worth anything in real terms.

...and that's how sheep get sheared, focusing on rising nominal value, ignoring declining real value.

Tue, 11/30/2010 - 18:49 | 766065 AR15AU
AR15AU's picture

You've never heard of PETS.COM? That's what our economy is made of today.

Tue, 11/30/2010 - 18:15 | 765958 A_MacLaren
A_MacLaren's picture

He (or She -talking to YOU Blythe-baby) that sells what isn't his'n, must buy it back or go to prison.

Naked shorts are transparent, regardless of whether you're standing in a TSA scanner, or not.

Got a picture of your avatar in a scanner Robot-traitor?

Tue, 11/30/2010 - 18:57 | 766104 Hearst
Hearst's picture

A nice observation over at today in that Silver is one of the very few 'commodities' that if the shorts had to cover and Silver rocketed to $400 per oz or more, it would not have a huge impact on societies overall.  Unlike say a tripling or quadrupling of a food or energy commodity price.  Furthermore that if the cartel gets out of its massive short positions there wont be any going back, and every incentive to flip long.

Tue, 11/30/2010 - 19:53 | 766275 RockyRacoon
RockyRacoon's picture

The paper shorting of SLV and naked shorting of silver stocks has never been higher. And panicked sheep are out there buying up coins.

Something is going to blow soon.....

That does it.  You are a still-born prick. 

I am not a panicked sheep.  I am a reasoned and intelligent buyer.

If you can't do anything but post sensational sound bites, graphs that show nothing but ramping prices of trash stocks, and pictures of scantily clad women to attract eyeballs, then you should just go away. 

Adding substantive commentary is always appreciated, even if the conclusions don't match my own; but you have simply become a troll with no more credibility or personality than Johnny Bravo.   When you have a half-dozen junks, that means that people don't agree with your investing slant or your philosophy.  When you have dozens, that means people don't like YOU.

Tue, 11/30/2010 - 19:54 | 766321 Bay of Pigs
Bay of Pigs's picture


"panicked sheep"

It's amazing how people like him continually post things that are totally dishonest and complete horseshit. Whatever credible input Robot had around here is long gone now.   

Tue, 11/30/2010 - 20:12 | 766369 akak
akak's picture

And yet I earned nine junks from nameless and spineless cowards for essentially saying the same thing about him above.  But fuck them too --- I stand by my observation that Robotdickweed is nothing more than a flyby, stock-pimping troll here.

Wed, 12/01/2010 - 03:49 | 767251 StychoKiller
StychoKiller's picture

Just because someone keeps pointing to the Kabuki stage, that doesn't make them a Troll!

Wed, 12/01/2010 - 03:55 | 767254 akak
akak's picture

On the contrary, I would have to say it does, when they are continually applauding the villains of the play and booing the morally upright antagonists.

Wed, 12/01/2010 - 11:34 | 767774 RockyRacoon
RockyRacoon's picture

This doesn't point out anything except the nature of the person posting the comment:

The paper shorting of SLV and naked shorting of silver stocks has never been higher. And panicked sheep are out there buying up coins.

Something is going to blow soon.....

Tue, 11/30/2010 - 17:27 | 765690 Shameful
Shameful's picture

Spin it as bullish.  With the economic recovery people can't wait to go out and spend money on "trinkets" like silver.  Zimbabwe Ben, the miners friend!

Tue, 11/30/2010 - 18:06 | 765902 DavidPierre
DavidPierre's picture


Expedient silver

When considering the possibilities for owning silver one reason stands out above all.

That is, it eventually will be expedient for the cartel to let go of silver suppression.

Yes, once the cartel gets out of their massive short silver positions there will be zero incentive to go back, and every incentive to flip to the long side. Mainstream media would then do their best to divorce silver from gold and make it a simple supply-demand story. Gold alone would then become the benchmark for fiat transgression.

Another reason for higher prices in silver being expedient is unlike nearly any other commodity or financial instrument, an enormous run-up would do very little harm to the economy. At 15 times its current price silver would still be consumed industrially. I haven't heard any auto makers lobbying Congress about the oppressive prices of platinum, palladium, or rhodium. Silver's viability at $400 or more is very reasonable when you think of the extraordinary effort to suppress it for decades. If silver exploded to $400 it would barely cause a ripple in industries where it is consumed. Compare that to nearly any other commodity and see what would happen.

* If soybeans went from $12 to $180 a bushel there would be starvation and food riots.

* If lumber went from $270 to $4,050 MBF a typical 2000 sq. ft. home would cost over a million dollars to build.

* If crude oil went from $80 to $1,200 a barrel the economy would ceace to function.

* If gasoline went from $3 to $45 a gallon there would be mayhem in the streets.

* If nat. gas went from $4.30 to $64.50 per CCF millions could freeze to death.

* If 30 yr. T-bond yields rose from 4.3% to 64.5% governments would collapse.Yet if silver goes from $27 to $400 the economic fallout is miniscule, and mostly off the radar!

JPM, HSBC, and the rest of the cartel could earn many multiples of any settlement costs for class-action suits by getting long and riding the monster to the top. This may be the CFTC's angle; fine the cartel and then let them get in position to make it back in spades. No short seller would oppose them unless he knew he had silver to deliver. Even with proper position limits silver could grind higher for many years.

There are few commodities that will ever behave like a 1990's stock. If there was just one that could it may be silver. Unlike a

stock though it still may not be overvalued at a 15 multiple of its current price. The nitwits at GFMS would howl all the way up but the computer, camera, cell phone, and automobile manufacturers would just pay up and go on.

Via LeMetroPole Cafe!

Tue, 11/30/2010 - 18:33 | 765963 DoChenRollingBearing
DoChenRollingBearing's picture

Very good observation I had not considered before (much higher price of silver would not affect the world much).  Thanks DavidP for this nice insight.

This is one of the many reasons I read ZH.

Tue, 11/30/2010 - 19:08 | 765972 Bay of Pigs
Bay of Pigs's picture

Your arguments are rock solid, and GATA has been proven 100% correct. 

Cheers, and best wishes,

Bay of Pigs


Tue, 11/30/2010 - 18:18 | 765979 Shameful
Shameful's picture

You bring up those commodity prices and they wouldn't surprise me.  I agree that eventually any suppression scheme will stop, but my guess is they will get forced out then use their escape hatch to escape paying out the metal.

Trust me if silver goes to $400 we are not going to be seeing commodity prices at the levels we see them now.  If silver did go to $400, where would gold end up?  Would not the same silver vigilantes turn to look at gold?  If gold moves up to lofty heights I think that might cause some panic in the fiat world.

Tue, 11/30/2010 - 18:23 | 766000 destraht
destraht's picture

Silver is going to be out of control when it is used in every carbon nanotube electronic device. Silver is the most conductive element but it corrodes. Its ok if it is sealed up air tight like circuits are. So every carbon tube will have a silver atom at both ends of it. Make quadrillions of carbon tubes and you will need a lot of silver.

Tue, 11/30/2010 - 19:57 | 766328 RockyRacoon
RockyRacoon's picture

Well... one silver eagles goes a long way when you break it up into atoms.

Talk about "divisibility" as an attribute of metal as money!

Wed, 12/01/2010 - 00:02 | 766902 Real Estate Geek
Real Estate Geek's picture


That may have been the last time we'll see that word used in a non-financial context.

Wed, 12/01/2010 - 00:35 | 766962 A Nanny Moose
A Nanny Moose's picture

That shark has been jumped in the derivatives world.

Wed, 12/01/2010 - 01:16 | 767047 trav7777
trav7777's picture

does 6.02x10^23 mean anything to you?

Wed, 12/01/2010 - 02:38 | 767187 MurderNeverWasLove
MurderNeverWasLove's picture


Wed, 12/01/2010 - 11:36 | 767786 RockyRacoon
RockyRacoon's picture

Otherwise known as Avogadro's number.  Good one, Trav.

Tue, 11/30/2010 - 18:33 | 766029 DavidPierre
DavidPierre's picture


We are SO close!

The wheels are failing off this cart. The sovereign debt crisis in Europe while a disaster in it's own right is more importantly demonstrating to investors that even governments are not immune from this "the Greatest Depression".

For more than 10 years now fiat money, economies and thus governments have survived on "SPIN" and steering public perception and confidence. They had to massage public opinion because the current "fiat experiment" was already getting long in the tooth 10 years ago, now it is on life support with sporadic sovereign "power outages".

The problem now is that the system is so screwed up (by their own doing) that even below average mentalities can see for themselves that "something just ain't right". THIS is how confidence breaks, the herd of sheeple refusing to move as one unit in the direction desired by the puppetmasters.

Assuming the above is correct then where does capital flow to?

Obviously the last several years have shown hard assets to have been the haven of choice along with US Treasuries. BUT Treasuries have had the advantage of Federal Reserve purchases which in the end will only serve to destroy the Dollar and thus the currency that Treasuries promise to pay. This leaves hard assets as the sole survivor but  things will get so bad that the ultimate in hard assets will end up being "hard money".

Cutting to the chase, mining shares and in particular those companies that control metal in the ground will make stock market history.

Assuming $10,000 Gold ... go on and laugh ...I am laughing even harder because this number is ridiculously LOW!

Many exploration companies will simply explode to values that are multiples of what the metals do. Follow this through, you have a company that has explored, mapped and drilled for 10+ years and has 100 Million shares outstanding. Let's say that they have resources of 1 million ounces of Gold currently without further exploration. Let's do a little math here. At $10,000 per ounce their resource has a value of $1 Million times $10,000 which equals $10 Billion. Currently these exploration companies are valued by the markets for the most part well under $100 per ounce.

OK, just a little more math.

Let's say that inflation is roaring and the cost of production rises significantly to $2,000 per ounce leaving this company with profit of $8,000 per ounce. What do we have here? We have $8 Billion divided by 100 Million shares which equals $80 per share.

This is simplistic and there are risks such as permit problems, mine floods and collapses, construction problems, sovereign confiscations etc. but considering that many many of these companies now trade at less than $1 per share, the upside is huge!

Please remember that this illustration assumes NO further exploration or addition of reserves NOR does it include other recoverable minerals such as Silver, lead, zinc etc. which in many many cases is a huge addition.

Markets discount present and future values and place discounts for perceived risks but I also know human nature of fear and greed which push asset values to ridiculously low values (the miners in 1999-2000) or high values ie. (Japan 1989, the internet stocks 2000, housing globally 2006-2007).

When, not if, Gold and Silver explode upward, fear will be nowhere to be found except where the capital is fleeing from, PURE GREED will take over the mining sector and push values to STUPID levels! The internet stock bubble of 10 years ago will look like a complete dud!

OK, the above is just an example. Many companies have less shares outstanding and others more, some have more reserves and other much less. You may laugh (I am not) at $10,000 Gold or $500 Silver, it is all just a mathematical look at what could happen.

Even trying to put a Dollar figure on ANYTHING is foolish because we do not know truly what money supply is now, future additions to money supply and most importantly how much Gold the U.S. REALLY has because our "rulers" have refused to audit the Gold since 1956!

Please reach for the Kleenex box now because you will probably start laughing so hard you'll cry, I can envision Gold trading in the $Millions, Billions or even TRILLIONS per ounce depending on how badly we hyperinflate and on how badly we have been lied to regarding OUR (the peoples) Gold reserves!!!

You need to have some physical metal as a base to your portfolio (I can tell you that I was surely comforted during the 2008 crash knowing that I had wealth stored in a vault) but the really huge wealth will be gained by those who invest in mining shares. In particular those lowly and very risky exploration plays where 10 or even 100 baggers will be DOGS!

If you can grasp the thought process of hyperinflation then you will understand that 10 baggers may (probably) not even keep up with Dollar devaluation. In a hyperinflation you need 100 baggers or even ones that go up 1,000 fold to beat inflation and better your standing of wealth in real terms!

This is only meant to describe just how undervalued the tiny exploration sector really is with valuations under $100 per proven ounce in the ground. Look at the math ... realize that you really don't need a lot of capital in this sector to survive what is coming financially, and very soon.

We are staring stock market history in the making!

The junior/exploration stocks were soaring years ago when gold and silver were 1/3 to ½ the prices they are today.

Why? Because the sector was in favor and there were no shorts messing around with the shares of many of the companies. Outside of selected big winners, the junior/exploration sector is nowhere near in favor like it was years ago.

However, that will change in a major league way and will go into favor MANY, MANY times more so this time. Why? Because this time the entire investment world will want in. Last time it was only traditional gold/silver share investors. This time it will be the whole enchilada … and tiny market cap sector will not be able to handle the buying. 

FORTUNES will be made and quickly.


Tue, 11/30/2010 - 19:02 | 766131 DoChenRollingBearing
DoChenRollingBearing's picture

Another excellent reply DavidP.

Anytime I see anyone saying gold at $10,000 as being cheap makes me suspect a FOFOA reader.  But, you arrive at your analysis via a whole 'nother way.

But, as the price goes way up, the mines are at risk as the host .govs get greedy and take them over or tax them highly.

Tue, 11/30/2010 - 21:47 | 766566 chubbar
chubbar's picture

You copied this off of Lemetropole tonight. You should give attribution instead of letting folks think you wrote it.

Tue, 11/30/2010 - 23:31 | 766807 Founders Keeper
Founders Keeper's picture

[You copied this off of Lemetropole tonight. You should give attribution instead of letting folks think you wrote it.]---chubbar

I assumed he wrote the post.  And I was going to Reply with kudos.

Do you have a link to the original source, chubbar?

Wed, 12/01/2010 - 08:41 | 767357 JWind
JWind's picture

Thanks for your beautifully written and inspirational post.

Tue, 11/30/2010 - 18:57 | 766106 DavidPierre
DavidPierre's picture

Junk silver is not junk at all, it is actually very valuable.

Junk silver is an oxymoronic term used for half dollars, quarters, and dimes minted prior to 1965, that "usually" have no numismatic value above the value of the silver bullion they contain. The word "junk" refers only to the value of the coins as collectibles, and not to the actual condition of the coins.

However junk silver is not necessarily scrap silver.

Junk silver coins have not been made for 46 years, and can't be reproduced, giving them "some" numismatic potential. In fact, in 2008 when all silver products were hard to come by, junk silver bags were carrying premiums of $4.50 per ounce over melt value.

A "full bag" of junk silver carries a $1,000 face value, and contains either 4,000 quarters, 10,000 dimes, or for a small premium, 2,000 half dollars. For ease of handling, we split each full bag of $1,000 face value into two half bags of $500 face value each. The half bags weigh approximately 27 pounds and are easy to handle. Each full bag contains 715 ounces of pure silver.

As a rough guide, there is approximately one troy ounce of silver per $1.40 face value.

So for example, if you had a mismatch of 90% silver U.S. coins that totaled $14.00 in face value, you would have about 10 ounces of pure silver. At today's silver price of $27 per ounce, that would be a silver value of $270, not bad for a pocketful of change.

30 full bags available for immediate delivery at the very low price of $.50 per ounce over melt value.

Use these low premiums to get longer silver!

Minimum order $100 face value.

 1.800.822.8080 to Order.

Tue, 11/30/2010 - 20:10 | 766368 iDealMeat
iDealMeat's picture

meat loves CSTR

Tue, 11/30/2010 - 20:57 | 766460 it aint paranoi...
it aint paranoia if they really are out too harm you's picture

Serious question: I got a couple of $100 bags and there are some coins with significant wear.  I understand the "numismatic potential" and all that, but there has to have been some loss of "bullion" value from wear and tear.  I will go and weigh the worst of them and see what weight loss occurs, but over hundreds of coins (not that I have that many) this could add up.


Confession, I inherited some ($25 face value) circulated and REALLY worn coins from my grandparents.  It will take a very high price to part with them.  Anyone else got THAT kind of emotional hold?

Tue, 11/30/2010 - 22:40 | 766675 tmosley
tmosley's picture

I trade my slick coins for Washingtons or Roosevelts at ~1:1.  I sometimes actually even get more (as the slicked coins are the older barber or standing liberty coins that have some numismatic value).

Wed, 12/01/2010 - 00:28 | 766953 Founders Keeper
Founders Keeper's picture

[...but there has to have been some loss of "bullion" value from wear and tear.  I will go and weigh the worst of them...]---it aint paranoi...

Hi, it aint paranoi.... Thanks for your post.  I'm sure many others are asking the same questions.

IMHO don't worry about the loss of bullion weight from normal wear on Junk silver coins.  If you can still read the date on the coins, the weight loss is insignificant.  Also, their numismatic value(except in rare cases) is surprisingly low.

The true value of Junk Silver is:

*Fractional convenience

*Easy identification

If the stuff really hits the fan, silver may be traded for goods and/or services.  (Gold obviously holds too much value for everyday transactions.)

Why Junk silver? Fractional convenience.  Someday, a 1 ozT American Silver Eagle may be worth $100 to $250 each.  Easier than gold for daily transactions, but still cumbersome.  Instead, think DIMES, QUARTERS, and HALF DOLLARS.  Dated 1964 and earlier = 90% silver, 10% copper.

A 1964 Roosevelt dime has 0.07234 oz pure silver.  At spot $100 per ozT, that dime is worth $7.23.

Easy identification.  The mint date must be legible on the coin.  Also, I recommend Mercury dimes(1916 to 1945) over Roosevelt dimes(1946 to present).  Again, because of ease of identification.  Yes, 1964 is the magic date for 90% silver coins, but some people will not remember, e.g. "Was that magic date 1964 or after 1964?  Or, before 1964?"  Want to be sure, buy Mercury dimes, Standing Liberty quarters(1916-1930), and Franklin half dollars(1948-1963). 

Those coins from your grandparents.  Sounds like they have sentimental value.  I would cherish those.

Just my opinion. 


Wed, 12/01/2010 - 00:47 | 766980 A Nanny Moose
A Nanny Moose's picture


The melt value of 1 ea. 1964 quarter, still buys a hotdog and a coke, or a gallon of gas.

Good advice on the Merc vs. Roosevelts. I have lots of both and never considered this particular aspect. May look at trading in my Roosevelts for Mercs.

Wed, 12/01/2010 - 01:24 | 767064 Mike7.62
Mike7.62's picture

Good advice. I always look for the copper "meat"  in the LBJ sandwich to be sure on Roosevelts. Buying Mercs will alleviate that.

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