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Silver Demand Surges To Record For February
We noted the strange divergence between the surge in physical demand for precious metals and the falling price of gold and silver yesterday and today; sure enough, just as they give back some short-term gains, we find that with one day left in the month, the US Mint has seen the largest demand for physical silver coins ever for a February at 3.37mm ounces. We are sure this all makes perfect sense somewhere in the leasing, backwardation, securitization, paper world of precious metals pricing but one thing appears sure, more than just Russia is backing up the truck for physical bullion.
Data: US Mint
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Guilty as charged!
Blythe is still doing a masterful job at hedging
am i allowed to say thank you to jamie and blythe and bart and gary for this incredible opportunity?
or are we still pretending the Comex isn't corrupt?
Hmmm, I wonder where the goose that ate the Silver Egg has gone?
Someone tried to make pate
"I can't hold her together any longer Captain Ben. She's gonna blo........" - Unidentified caller from the Crimex Comex
Will slam the futures down again and again until phys metal is scared back into the fin system.
the physical is as good as gone.
That's very interesting, because I have NO plans whatsoever to sell my PMs.
Free Bart Chilton!
He's busy in his time machine looking for a new 1960s haircut
Pig hehehehe. You're too harsh on Bart "I'm doin' the best I can" Chilton. After all he has to keep his surfer boy good looks up for the photo ops. What the Foch have we become when a complete punk like this becomes a CFTC commish? Oh wait......we already are a Bannana Republic ......never mind.
Bart loves Blythe
http://www.quickmeme.com/meme/3t6kzz/
I was a contributor to this! YAY!
I bet we see the Asians buying a record amount with our Chinese New Years raid also......I know i did...but the talking heads are all over the fall..saying the parties over for PM´s...stocks are the best in the world....they say...stocks stocks stocks...well I have seen that before...Central banks are printing as fast as they can..and will until it collapses....no stopping now...they can´t and survive..litteraly..they willl lose their heads at this point if they have to cut the welfare ffatcats...so we go...but they cannot have a gold or silver currency...so they will trash it until they can no longer deliver any metal.....then its to the moon and illegal I bet to own.....they will make that law too...
If it becomes illgal to own, they'll never see my stack.
The way things are going, if it becomes illigal to own, at that point we will be having much bigger problems to worry about.
Fema, civil war, food shortages, etc etc.
Illegal to own will blow away the last fractions of trust in fiat. In that case they will make the same mistake as with paper pm's slamdowns.
Bernanke's Assholes are monkey hammering the PMs again today - fucking stupid dick-douche, ass-munching motherfuckers! Keep running the fire sale for us stackers, bitchez!
And it's available at bargain basement prices!
How Do We Do It? VOLUME!!!
my name is not Russia!
I contributed, too. 40 shiny silver 1 oz eagles. Goddamn system has to be broken. Demand usually pushes prices UP, doesn't it? Someday, someday, us PM buyers will be vindicated. I just hope I live long enough to see it.
What's your age, 93? Don't worry.
I heard the mint put up a sign in the window that looked like this.
http://d65852kwq1u8u.cloudfront.net/uploads/26_8479570581_07e0751d2c_h.jpg
Silver when a contract is done , gold when your loop has ended.
I don't care. I'll wait some moar.
BLYTHE has been promised her own silver mine, if she can keep the scam going. Everyone overlooks the 2nd agenda which is to bankrupt all the miners so that a "friendly" can pick them up for pennies.
Those Silver Eagles are too rich for my blood, can't find them for less than 10% over spot.
The fact that people are buying at a premium is an even stronger signal of NO TRUST in Washington and Wall Street.
I did back the truck up for some Royal Canadian mint 100 o.z. bars.
NO TRUST! Do you have the message yet casino masters?
Picked up 60 Sunshine rounds this month.... I don't want to pay the eagles premium either!
I know at least 6 other people that are buying physical silver or gold...
The FED is making the masses nervous!
Most of the masses are still waiting for the MSM to tell them what to do. There are a lot of new customers who are waking up though. I believe the salesmen are our prez and ben. Very fine salesmen indeed - very ironic. (people are a little freaked)
That's what I said when I was buying them for $7 each. You may not remember those days. The premium is negligible within obvious reason. The premium you paid diminishes. Let's see.... Hmmm. My 70 cent premium over $7 doesn't look like much now, does it? I sure as hell wasn't going to pay $11 for those damn PROOF coins! Outrageous. But I had to buy them to satisfy customers' needs. Held onto a large boxful of them until recently. I ended up selling every proof silver eagle I had at near the top to a dealer in one lot -- $62 each (cheap). Rolled all that into rolls of bullion ASEs. Cost basis in the bullion silver? Not much....
The take-away lesson here is that the weekly/monthly/yearly/decade movements don't mean much. Those who relish the bashing of "gold bugs" when the price is "smashed" by 5% really don't have a broad view of the market. It's a strategy of long-term gain, not daily trading.
Unfortunately, Rocky, short-term (even ultra-short-term) thinking, and the utter lack of any kind of historical perspective, particularly regarding monetary matters, is inexorably rising in our increasingly ignorant and dumb-downed society. Most "adults" today show all the self-control and long-term thinking and planning that I used to see in teenagers 30 or 40 years ago.
Like the casino masters care... What they don't get by trickery they'll get by theft.
2 weeks ago when it was attemptig to break 32.50 i was considering liquidating a portion to pay more my new Benelli m4 tatical...
then they pulled that phony paper price take down bullshit and pissed me off...
so i said fuck it i'll wait to the montlhy debt coupon dollar flow comes in at the end on Feb to pay for the shottie and placed an order for the shiny instead at the 28.65 spot....
picking up the shottie and the metal tommorow with the debt coupons as payment....
FUCK YOU BERNANKE AND ALL YOU OTHER BTICH ASS SOCIOPATH BANKERS YOU MOTHER FUCKERS!!!!!!!!!!!!!
Amen Brother! Testify!!!
Well done.
I also decided to keep calm.
Bought a decent amount of the both metals this month. Great feeling!
My favorite line about Kaiser in The Usual Suspects - "The greatest trick the Devil ever pulled was convincing the world he didn't exist."
Reminds me of Bernanke
"I thought it was always a good time to get fuckin rich" ~ Stevie Janowski
If this keeps up, JPM is going to have to invent a reverse un-rehypothecated leveraged swap with a buy back option, or something.
...off the glass.
If this keeps up, some of those smart ivy league people might just really catch on. I can hear them now, "uh-oh". Until then they'll rehypothicate to the moon.
mosley you getting ready to take that bow?
Would it be wrong to suggest that 'students' buy silver with their student loan money? Make these criminals finance their own demise ;-)
Not wrong at all Sitenine.. That does get you on "the list" however. Welcome aboard.
Maybe we should look at the other side of the equation, supply. Some find this information bullish. I don't.
Buy gold and use silver to trade into gold.
There are so many people drinking at the silver alter. How much gold do they own? $150 by the end of 2011 they said!!!
PS: The private and central banks WILL NOT rush into silver. They can rush into gold though. The only ones that will be interested in buying silver in a crisis will be the BROKE masses. Think hard before you bet all on one metal over the other!!!
Why speculate?
Simply buy the both.
There's so much paper out there, ultimately all PMs will rise in price.
Join the club.Some ZHers seem to be having an affair with Ms.Silver.
I have some for buying essentials in a SHTF situation,coming soon to everyone,
but gold is THE monetary metal.If industrial demand completely stops in the
SHTF moment,silver will collapse just as copper did in the last Depression.Then use your
gold to buy a silver mine.
Simple, take your PM moneys and split them between gold and silver. If the ratio is off, you will buy a higher ratio of the under valued metal. Then take money equal to about one tenth of that and buy nickels. You cannot lose with nickels. Kyle Bass is a genius.
"PS: The private and central banks WILL NOT rush into silver. They can rush into gold though. The only ones that will be interested in buying silver in a crisis will be the BROKE masses"
Um, I think that's the point. Not saying all in anything but "buy gold 'cause the 1% will want it" is like saying "invest and buy bottlecap collections 'cause there must be 1% of folks (Burt on Sesame Street, a fictional character) who will really want it. And the 99% seeking loaves of bread instead will be priced out of bottle caps". Silver is for gentlemen, gold kings, debt to slaves.
I think the 99% is a viable customer base. I think the more the 1% supports gold, the closer to confiscation and (moar than 28%)taxation. JMO
The 1% have 40% of the US's wealth. Just saying. JMO.
The two are treated differently in different areas as well. I know in germany there is a 19% VAT on silver, which does not exist on gold.
FOFOA, did you sign up another user name?
Silver For The People
From the planes above Jamaica, to the ground beneath Rockefeller, from the 39 steps west, to the avenues of Kent, the Silver overflows....or does it?
I'm off to my neighborhood coin shop to swap FIAT for Money! Who's with me? Let's take the fight to the enemy!
Not sure there is any left I was there yesterday buying at the fire sale
"People are buying silver and gold coins because of "tradition"."
Chinese ppl will be glad to know that Ben The Crook called them "primitive".
Silver at low of the day, bastards
Just keep op stacking. Fuck the banksters!
Ag @ 28.56...
And the US sequestration now looking imminent; the Senate Chaplain prayed to God that his goodwill would prevail on Man (in his divided folly).
Stepping back; the 85 billion sequester scheduled to occur before Sept. 30, will cut back by 2.4% the US budget of 3.60 T $.
In other words peanuts! But such is the cup of Federal deficit filled to the brim, all to encourage ZIRP levitation that leads God knows where, that even this minor cutback causes acute pain and fears of accelerated recession.
So many balls up in the air and so many meat balls containing "toxic" malinvestment...makes the politico-financial world very nervous.
But silver has a tuff time saying HiHo!!
You said "balls."
yes and I wasn't thinking of Federer!
It is no longer a game of getting growth from one's investments. It is a game of preserving wealth before the collapse. Bonds are backed by bankrupt nations, Stocks are blown beyond stretching limits by central banks, and Paper currency is destroyed by government mandated inflation.
Precious metals and other physical assests are all that is left. And, PM's can't be taxed like property. What fucking good is investing in land if the F-Ing Fascists can take it from you via taxation.
Silver going down means only 1 thing to me. BUY MOAR!!!
picking up another 200 oz Ag this weekend... 100 for me, 100 that i talked my gf into buying.
let's hope the discount lasts!!!
+100 for the gf ref
Stock market up. PM's down. It's what the Rothchilds er. I mean the Federal Reserve wants.
Lets face it. The US money supply blew up 10% since Christmas. Someone is not happy about the ultimate consequences. My thesis is bullish on the PMs. This raid too shall pass.
US Dollar is negatively biased against the Euro, JPY, GBP and CDN. All four of these are in the tank. So the USD climbs.
Gold, priced in USD therefore falls. Even WTI Oil is going down. So far so good.
But these US markets keep climbing - something is going to snap soon - markets can't go up forever while the USD climbs. Right JCPenney? Right Walmart?
I don't think there is any difference between USD and all the other currency out there. It is all fungible via FOREX. The exchange rates are all set by the CBs. It s just a big gray Higgs Boson field where meaningless pairs of fiat spring into existance to interact with each other. You are either in "things", fiat, or PMs.
It takes about 1200 ounces of silver to wire one torpedoe!
What a scam, sell ton of paper silver, lower the price and buy physical silver at a discounted price
Not a scam for me, 30 minutes ago I just bought some.. so if they want to push the price down so I can get more ounces for my money, I am ok.. because when the SHTF they will no longer be able to control the price of physical silver. When silver hits 1000.00/ounce I can trade in 200 ounces and pay off my house wiht those worthless dollars
Second portion of the healdine: "...and Price Drops Through Floor."
out of paper into the metal. i dont see anything wrong with that. a typical human reaction. the metal is on sale. let's get two for the price of one.
Just wait until they start using it as money again.
Anyone notice 100 oz 999 bars on Ebay? The cheapest "buy it now" is 3,640 and up over 5,000 dollars per bar. Tells us NOBODY wants to sell. Hahaha
@AwlDone: corrosion on gold coins is not all that uncommon, although should be fairly rare on sealed coins. It only takes a small amount of contamination with iron to produce a brownish stain. This stain is only surface, and can be quickly removed with any typical toilet bowl cleaner containing HCL. Don't worry, the acid will not do anything to a 9999 gold coin itself. Please note, however, that HCL will extract some copper from AGE's, leaving the surface slightly porous and looking like higher purity metal...
Market knows more then the Mint which is why silver cash is lower despite the thread title. That is a message silver bulls are missing. I say this holding some physical silver. Don't get married to your investment and have to much tied up in one thing.
When the bottom drops out of the stock market PMs will go on ultra sale. I'll buy then.
Yeah, that´s a plan, Stan! Asswipe ETFs and Comex urp futures will be dirt cheap by then. Go with it!