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Short Squeeze? Silver Surges Most In 7 Months

Tyler Durden's picture





 

Following yesterday's note on the near-record level of shorts in Silver futures, it is perhaps just a coincindence that spot silver prices are surging today - their biggest jump in seven months. Gold is also having one of its best 3-day runs in the last nine months, yet both moves are peanuts compared to what is going on in the "electronic" asset arena, namely the policy vehicle formerly known as "stocks" and BitCoin, both of which are racing for the title of most insane parabolic bubble ever.

 

 

Meanwhile BTC just hit $239 and S&P 500 futures are launching to new all-time highs as data points the other way...

 

Charts: Bloomberg and BitCoinCharts.com

 


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Tue, 04/09/2013 - 14:05 | Link to Comment Dagny Taggart
Dagny Taggart's picture

Must.Keep.Stacking.

Tue, 04/09/2013 - 14:07 | Link to Comment Duffminster
Duffminster's picture

Anyone following the precious metals may want to know what this article says:

Comex Gold Inventories Collapsing Most on Record

 

"...Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001..."

 

Tue, 04/09/2013 - 14:12 | Link to Comment THX 1178
THX 1178's picture

Bitcoins are at $231.00. Holy shit. At one point in the past you could have gottenthem at 1.99. HOLY SHIT WHAT IS HAPPENING?

Tue, 04/09/2013 - 14:16 | Link to Comment ACP
ACP's picture

Yeah, you'll definitely want to sell your tulip bulbs, er, bitcoins, as soon as you can buy a house with one.

Tue, 04/09/2013 - 14:15 | Link to Comment Pladizow
Pladizow's picture

Its all about value, not price - what's silver doing, valued in bitcoin?

Tue, 04/09/2013 - 14:19 | Link to Comment THX 1178
THX 1178's picture

Bitcoins are both a metric of the confidence in USD & EUR and a focus of speculation. So, yes BTC is in a bubble, but so is the USD which is bursting. Interesting dynamic. I still prefer SILVER BULLION IN MY POSSESSION.

Tue, 04/09/2013 - 14:29 | Link to Comment Manthong
Manthong's picture

Stand and deliver mo fo's.

Tue, 04/09/2013 - 14:54 | Link to Comment johnQpublic
johnQpublic's picture

i've got a feeling that folks in bitcoin will be slaughtered, and that right quick

anyone know if bitcoin can be shorted?

what was that 'betting' site that used to be referenced here on ZH?

Tue, 04/09/2013 - 15:32 | Link to Comment NotApplicable
NotApplicable's picture

I believe Intrade has been shut down.

Interestingly enough, I just googled "obama bitcoin" to see if it's a word he knows yet, and found a site betting on it. The bet is that he says the word by July 4th.

http://betsofbitco.in/search?q=obama+bitcoin

Tue, 04/09/2013 - 21:53 | Link to Comment Pinto Currency
Pinto Currency's picture

 

The market is responding to government trying to legislate exclusive use of legal tender fiat currency against 5,000 years of market choice of gold and silver as money.

Virtual Bitcoin currency seems to have a number of Achille's heels and will eventually collapse as those weaknesses are exploited.

In the meantime, gold and silver continue their return as money in the consciousness of citizens after the abject failure of the coalition of government and banking to coerce the populace to utilize legislated fiat paper/digital currency for the past 100 years in the West.

 

Tue, 04/09/2013 - 15:55 | Link to Comment mccoyspace
mccoyspace's picture

You can short bitcoins here: bitfinex.com

Tue, 04/09/2013 - 16:23 | Link to Comment Canadian Dirtlump
Canadian Dirtlump's picture

peoplelike mr. keiser are making 10s of thousands of dollars off of impoverished europeans clinging to bitcoin hope, who will get their faces melted off in their new safe haven. It's going to be sad.

Tue, 04/09/2013 - 21:34 | Link to Comment smlbizman
smlbizman's picture

if you happen to be the last one at the party...all that is left is fat chicks....

Tue, 04/09/2013 - 19:06 | Link to Comment americanspirit
americanspirit's picture

JQP - don't waste your time shorting BitCoin - short the Yen if you want to make some real coin.

Tue, 04/09/2013 - 21:18 | Link to Comment xtop23
xtop23's picture

Pretty crowded trade, that. 

Tue, 04/09/2013 - 14:30 | Link to Comment malikai
malikai's picture

Collapsing. Just like Gold, DOW, S&P, everything. I'd post charts, but it's the same story everywhere.

Tue, 04/09/2013 - 14:58 | Link to Comment AllThatGlitters
AllThatGlitters's picture

With the current pop in silver, I suspect your "collapse" in silver and "bubble" in bitcoin is on the verge of a major reversal.

Silver has just gotten started near term.  We popped and consolidated. Now, it looks coiled for another big run.

Another surge is on the horizon.

Watch it happen today and tonight in real time:

http://www.pmbull.com/silver-price/

 

 

Tue, 04/09/2013 - 17:49 | Link to Comment dark pools of soros
dark pools of soros's picture

Blythe was getting laid today... She'll rip a new one on silver tomorrow

Tue, 04/09/2013 - 19:07 | Link to Comment americanspirit
americanspirit's picture

dps - Blythe doesn't get laid. Her specialty is screwing others. With her knobby little knees held tightly together.

Tue, 04/09/2013 - 14:35 | Link to Comment DCFusor
DCFusor's picture

Yup, when short term returns are "too good to be true" - RUN.  Because history shows, they always are, and he who gets out early is the winner.

And, FWIW, none of these curves are parabolic, they are exponential.  I guess math is too much for most traders.  Sure, the shapes look a lot alike at some points, but there IS an important difference.

 

Tue, 04/09/2013 - 14:40 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

This Bearing Rat likes being one of the first off a ship too.

Exponential...  I wish our sales in Peru were exponential...

Tue, 04/09/2013 - 14:55 | Link to Comment BLOTTO
BLOTTO's picture

Tyler(s)...

Your ear(s) may be bringing...maybe cause of this guy? Thom Beecham

Trashin talking PMs

.

So, if the "collapse" takes several years to unfold, that should be long enough to destroy a lot of wealth and sanity the naive patriots have left. This, of course, is all part of the plan, and is why I am convinced that much of the "patriot" media is compromised. Who really writes for Zerohedge? If one invested according to them they would have been broke already.

http://henrymakow.com/2013/04/Goldbugs-Can-Expect-More-Losses.html

Tue, 04/09/2013 - 15:25 | Link to Comment francis_sawyer
francis_sawyer's picture

  "I guess math is too much for most traders.  Sure, the shapes look a lot alike at some points, but there IS an important difference."

~~~

Funny ~ I was thinking about just this same thing the other day when Chevy Volts crossed my mind...

Tue, 04/09/2013 - 15:27 | Link to Comment reload
reload's picture

WELL: It is a matter of record that Zerohedge has been calling stock markets higher, while ridiculing the mechanisms by which they are being forced higher. OK, we have had Hugh Hendry among others given `airtime` on here, advocating `short S&P - long Gold, but those who actualy pay attention to the DETAIL of the better articles posted here - will know, that Mr Hendry is very good at putting on cheap, deeply out of the money option strategies. So when he says Long Gold/ Short S&P it does not mean he is all in or that readers should be.

So lets be realistic, Mr Beecham (whoever he is) is likely threatened by the light shedding articles (swap lines, tri party repo`s, synthetic whale trades - etc,) WHICH ARE GROUNDBREAKING.

Trying to smear ZH as a bad place to get `investment advise` is beyond lame, and misses the point entirely. In any event, where in the media was the level of the R2000 or S&P first described as a FED policy objective? - on ZH I would wager.

I very much doubt the Tylers (whoever they are) will loose 1 millisecond of sleep over the opinions of Mr Beecham - whoever the fuck he is.

Tue, 04/09/2013 - 15:40 | Link to Comment NotApplicable
NotApplicable's picture

Sad thing is, lameness doesn't matter, since his target audience would have no clue. He's just doing advance character attacks for the day the financial world can no longer avoid what goes on here.

Another thing, Makow is already engaged in these attacks on other "fringe" bloggers, with each of them calling the other a psyop.

As for the Tylers, I judge them by their words, not by their identities, as they either have coherence, or not, wholly based upon the ideas they lay out.

All I hope for is that the ZH servers hold up the next time Drudge posts a link.

Tue, 04/09/2013 - 17:44 | Link to Comment Ralph Spoilsport
Ralph Spoilsport's picture

Makow is such a crackpot that Jeff Rense kicked him and his articles off his website (Makow claims that Mossad clandestinely installed small nukes disguised as Video cameras at Fukishima and deliberately caused the disaster. This was too much, even for Rense). Pretty entertaining feud actually.

http://www.henrymakow.com/thehiddenjeff_rense.html

http://www.davidicke.com/headlines/62073-conspiracy-researcher-henry-mak...

 

Tue, 04/09/2013 - 17:51 | Link to Comment dark pools of soros
dark pools of soros's picture

He had some good points-- if it was an attack it would of been a nuke from a sub

Tue, 04/09/2013 - 15:52 | Link to Comment francis_sawyer
francis_sawyer's picture

Is he related to 'Mr. Wendal'?...

~~~

http://www.youtube.com/watch?v=wyDjRd0Tjss

~~~

"Here, have a dollar,
in fact no brotherman here, have two
Two dollars means a snack for me,
but it means a big deal to you
Be strong, serve God only,
know that if you do, beautiful heaven awaits
That's the poem I wrote for the first time
I saw a man with no clothes, no money, no plate
Mr.Wendal, that's his name,
no one ever knew his name cause he's a no-one
Never thought twice about spending on a ol' bum,
until I had the chance to really get to know one
Now that I know him, to give him money isn't charity
He gives me some knowledge, I buy him some shoes
And to think blacks spend all that money on big colleges,
still most of y'all come out confused

Go ahead, Mr.Wendal

Mr.Wendal has freedom,
a free that you and I think is dumb
Free to be without the worries of a quick to diss society
for Mr.Wendal's a bum
His only worries are sickness
and an occasional harassment by the police and their chase
Uncivilized we call him,
but I just saw him eat off the food we waste
Civilization, are we really civilized, yes or no ?
Who are we to judge ?
When thousands of innocent men could be brutally enslaved
and killed over a racist grudge
Mr.Wendal has tried to warn us about our ways
but we don't hear him talk
Is it his fault when we've gone too far,
and we got too far, cause on him we walk
Mr.Wendal, a man, a human in flesh,
but not by law
I feed you dignity to stand with pride,
realize that all in all you stand tall

Mr.Wendal, yeah yeah yeah, Lord, Mr.Wendal"

Tue, 04/09/2013 - 16:22 | Link to Comment Cathartes Aura
Cathartes Aura's picture

while I like to keep an open mind when researching what's going down behind the curtain,  this part of Thom Beecham's chosen descriptive,

However, he was still thoroughly unwashed, and his awakening did not occur for another couple years. He is in his mid-40's, reads the Bible daily, and regards it as the best psychology textbook ever written.

gets a  /pass, from me at least.

Tue, 04/09/2013 - 21:23 | Link to Comment xtop23
xtop23's picture

Funny. Broke lol. I looked. Yep, my stack isn't one iota smaller.

Wed, 04/10/2013 - 05:58 | Link to Comment deployedtoafgha...
deployedtoafghanistan's picture

The stack should keep stackin' - even according to the good book, it's all that lasts --

"Everything made from silver, gold, bronze, or iron is sacred to the Lord and must be brought into his treasury.”

-Joshua 6:19
Tue, 04/09/2013 - 14:17 | Link to Comment Supernova Born
Supernova Born's picture

A black hole to suck up a shitload of excess currency from true believers before it is shut down with zero compensation.

Tue, 04/09/2013 - 15:34 | Link to Comment JimBowie1958
JimBowie1958's picture

How exactly do  you think the government can shut BTC down? The participants are all over the world and you would have to nab them all at once or else they could transsfer the BTC almost instantly to a new account, or burn to a CD and wait till the shit blows over.

You really do not  understand how TC works.

Tue, 04/09/2013 - 15:44 | Link to Comment NotApplicable
NotApplicable's picture

They don't have to shut down anything. All they have to do is to criminalize it.

See the idea isn't elimination of bitcoin, but merely of its legitimacy, in an effort to create fear in the masses who might otherwise flock to this safe haven.

 

Tue, 04/09/2013 - 16:23 | Link to Comment phyuckyiu
phyuckyiu's picture

All they have to do is make it illegal in the United States, then all the Burning Man Playa freaks spouting bitcoin anarchy will have to move to another country to use them. Which, actually, come to think of it, the Bay Area would improve tremendously if these Mad Max Thunderdome dressing idiots with their dick piercings and Poly (That's latin for SLUT) lifestyle moved out.

Tue, 04/09/2013 - 15:54 | Link to Comment Banjo
Banjo's picture

I would also add that bitcoin is not unique or rare with regards the broader concept of money.

You or I could start our own competing virtual currency that performs the same function so could government or an economic group funded by government.

In fact I think a government funded virtual currency backed by "the government" and marketed heavily and assisted so that implementing trading in it is made easy. Would surpass bitcoin quite easily in adoption and use.

1. set up the competing virtual currency

2. set up large corporations to accept this, wal mart, amazon, mcdonalds

3. give everyone 1-5 new-bit-coins to start with

4. sell the electronic generation software/hardware combo aka so called "mining"

Tue, 04/09/2013 - 16:10 | Link to Comment PersonalRespons...
PersonalResponsibility's picture

Do you know how it works?  because I think your missing the point that there can be bitcoin2, 3, 4, ad infinitum.

 

Tue, 04/09/2013 - 16:25 | Link to Comment phyuckyiu
phyuckyiu's picture

I have some Black Lotus MTG cards to sell you. Real cheap, a serious bargain at only $5,000. Get em before they're GONE!

Tue, 04/09/2013 - 16:54 | Link to Comment TeMpTeK
TeMpTeK's picture

All they have to do is criminalize any competing digital currency as an act of terror as it will undermine the govts counterfeiting scheme..They did this already to Bernard Von Nothaus and Liberty Dollar? The they will ban the banks/ Businesses from accepting and converting Bitcoins to fiat or tangible items.. Then Bitcoin is over.. 

Tue, 04/09/2013 - 22:09 | Link to Comment RockyRacoon
RockyRacoon's picture

It has been 2 years now, and Von Nothaus has not even been sentenced yet.  They confiscated over $6 million worth of his assets.  I think that just shutting him down and having him destitute was the objective.  That's all that was needed to stop an "alternative currency".  Actually proving that he was a counterfeiter was impossible.  Look for the same things in other "currencies" as well.

Tue, 04/09/2013 - 16:09 | Link to Comment PersonalRespons...
PersonalResponsibility's picture

doesn't need to be "shut down".  When bitcoin2 becomes popular, it'll shut itself down.  Then bitcoin3, and 4, and ...

Tue, 04/09/2013 - 14:16 | Link to Comment McMolotov
McMolotov's picture

Be on the lookout for dogs and cats living together.

Tue, 04/09/2013 - 14:30 | Link to Comment akak
akak's picture

And for Bernanke claiming that gold is money and that the real rate of inflation is four times the CPI.

Tue, 04/09/2013 - 14:31 | Link to Comment duo
duo's picture

fire and brimstone coming down from the sky,

rivers and seas boiling, earthquakes, volcanoes!

Tue, 04/09/2013 - 15:06 | Link to Comment NihilistZero
NihilistZero's picture

MASS HYSTERIA!

Tue, 04/09/2013 - 16:43 | Link to Comment catacl1sm
catacl1sm's picture

Yes, it's true, this man has no dick.

Tue, 04/09/2013 - 14:27 | Link to Comment Bearwagon
Bearwagon's picture

Aside from Bitcoin or not, or silver and gold, that's the most interesting question: Holy shit, what is happening? But i don't know either.

Tue, 04/09/2013 - 14:30 | Link to Comment seek
seek's picture

Mt. Gox has a backlog of over 15K new clients yet to be processed.

Demand. That's what's happening. I've been in bitcoin a while, and have no doubt this is a bubble, but this could be a long-lived one with that many new users coming online. I'm seeing a half-dozen or more vendors announce that they're accepting bitcoin per day now, too. We're in an expansion phase.

My expectation is that we'll see another pullback of 20+% within a month, and also that bitcoin will break 1K before end of year. Maybe even by summer. Yes, it's insane, but that's the supply/demand imbalance.

Tue, 04/09/2013 - 14:33 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+ 1 for a very interesting prediction.  

You walked the plank, we'll see if you predict things better than I do...  :)


Tue, 04/09/2013 - 14:36 | Link to Comment DCFusor
DCFusor's picture

I think the + on that 20%+ is the key - I'd predict a larger fall....but that's me.

Tue, 04/09/2013 - 14:41 | Link to Comment seek
seek's picture

Oh, I have no doubt it can be bigger, it's just the rise is so strong it might soften it.

As someone pointed out, a 50% correction at this point puts BTC over $100. Still insane.

Now if my freaking mining rigs will just show up, my GPU isn't doing much for me these days.

Tue, 04/09/2013 - 15:27 | Link to Comment francis_sawyer
francis_sawyer's picture

Rational thinking about the irrational...

~~~

Always fascinating...

Tue, 04/09/2013 - 16:32 | Link to Comment phyuckyiu
phyuckyiu's picture

All this is Francis is a bunch of really rich oligarchs (most likely Khazarian origin) being able to manipulate a small market, drive the price higher, and turn them into gold coins (real money) before it crashes. It's the fools who trade their gold coins for bitcoins that I really feel sorry for. If you wanna trade some pussy pics (like those reddit bishes) or online camera sex (anything with zero actual labor cost) for bitcoins, I say more power to you, play the game and earn some fake $$$. Lots of digital avatars 'stripping' and flirting on Second Life for virtual cash that they could turn into real cash if they needed, it's really no different than the reddit bishes. Use your paycheck? SUKKA.

Tue, 04/09/2013 - 15:34 | Link to Comment JimBowie1958
JimBowie1958's picture

BTC and LTC are very volatile.

They would seem perfect for some slow-mo arbitrage.

Tue, 04/09/2013 - 15:48 | Link to Comment NotApplicable
NotApplicable's picture

I'm guessing that your rig won't do much better than your li'l ole GPU for very long, given you're now competing against botnets.

As for your prediction about price, does it still stand once Holder and Timmay's replacement need some new heads to crack?

Tue, 04/09/2013 - 18:35 | Link to Comment seek
seek's picture

800 GHash/sec is nothing to sneeze at, (if it shows). It's the industrial miners that are the bigger issue.

Tue, 04/09/2013 - 14:40 | Link to Comment Sudden Debt
Sudden Debt's picture

well you did a good call.
and probably, there's a lot of lemmings starting to look at it and think "this is going to 1000$" so there still some room to move up.

Just don't wait to long. BEST OF LUCK!! I hope you can cash out at the top!

Tue, 04/09/2013 - 15:10 | Link to Comment terryfuckwit
terryfuckwit's picture

I am in btc but wholly respect the historical role of metals and btc is the best thing that ever happened to my stack as i am adding big style every week from btc profits.... btc is the holy ghost... father son and holy ghost.... gold silver and bitcoin... bankers didnt see it coming....

Tue, 04/09/2013 - 16:36 | Link to Comment RebelDevil
RebelDevil's picture

nice analogy

Tue, 04/09/2013 - 16:22 | Link to Comment RebelDevil
RebelDevil's picture

I can agree, but I also have to say this:

Bitcoin supply is super-stable , so this "bubble" can only pop when demands drops off a cliff. As the dollar, euro, and other fiat collaspe, the demand for BTC will keep increasing as a means of exchange that has a stable supply and is out of the bankers hands of control. Maybe the "bubble" will "pop" through a correction, but over the long-term, demand for BTC is here to stay and will grow considerably.

What can be said for bitcoin can also be said for PMs in regards to supply and demand.

Tue, 04/09/2013 - 14:34 | Link to Comment q99x2
q99x2's picture

BitCoins are being accepted as a world currency. That is what is happening. Expect the rate of increase to be limited only by the available processing power of computers for the next year.

Tue, 04/09/2013 - 15:02 | Link to Comment Lore
Lore's picture

I trust my instincts. BitCoin seems entirely too neat and timely not to turn into a kind of monetary Sting Operation. Its participants are led down the garden path, not knowing that they are being set up for an operation to take down “Financial Terrorists.” We know the control freaks are working furiously to ruin Net Neutrality, ostensibly to clamp down on low-level money laundering, tax evasion and other poopiness. BitCoin may be just the 911-style trigger event to legitimise something awful, particularly in the context of world initiatives to bypass the dominant western wire transfer system, the Society for Worldwide Interbank Financial Telecommunication (SWIFT). If you believe as I do that we are headed for some kind of far-reaching, severely depressive inflationary event with concurrent loss of faith in electronic storage and consequent police state lockdown of most forms of commerce, then you share my feeling that BitCoin is like social media: a mouse trap.

Problem, Reaction, Solution...  Bitchez.

Tue, 04/09/2013 - 16:10 | Link to Comment The Abstraction...
The Abstraction of Justice's picture

Timely? It has been out for a number of years.

BitCoin is like social media: a mouse trap.

WTF is that meant to mean.

Tue, 04/09/2013 - 16:38 | Link to Comment RebelDevil
RebelDevil's picture

Because the basic principles and design of bitcoin are in the public domain, as clever fellow can create other new versions.(Litecoin maybe a good example.)

So in that case, you are both wrong!

Tue, 04/09/2013 - 18:21 | Link to Comment The Abstraction...
The Abstraction of Justice's picture

How was I wrong?

Tue, 04/09/2013 - 23:00 | Link to Comment Lore
Lore's picture

@Abstraction: By 'time frame,' I refer to the looming period during which faith is lost in various media of exchange. BitCoin seems to have surfaced and gained prominence just when people might be starting to lose faith in their usual currency and search for an alternative.  Doesn't it strike you as suspicious? 

You ask me to explain my statement about Social Media. It's worrisome that you need to ask.  Social Media is a profiler's dream!  It undermines basic principles of privacy in a free society.  People have fought and given their lives in wars to earn your right to dignity and privacy.  Instead, we see an entire generation voluntarily exposing itself to the worst kinds of exploitation, mistakenly believing it's "normal."

I think RebelDevil is just saying that BitCoin is merely the latest in a series of electronic monetary experiments, which seems obviously true. But how he goes from that to saying that 'we are both wrong' is beyond me.

BitCoin seems similar to high frequency trading or naked shorting: it's another way to manipulate and corrupt the market as a mechanism for determining real value. Every scumbag on Earth seems to be hunting for a new trick -- a new way to squeeze bubbles a little harder, push them a little higher, a little faster, with a little more complexity, a little less transparency and accountability and conscience.  For every action, there is an equal and opposite reaction. The cult of 'something for nothing' has to break soon, and the human cost is going to be terrible.

Tue, 04/09/2013 - 14:13 | Link to Comment francis_sawyer
francis_sawyer's picture

@Dagny

~~~

Bitcoin crew... Bragging about 'grandslams'... Coming on to ZH to tout their 'winnings' & how they cashed in their original stack [leaving them still with some bitcoins in their wallet]... & buying silver this morning... No WAIT... late last night...

Coming in 5...4...3...2...

Tue, 04/09/2013 - 14:14 | Link to Comment Abraxas
Abraxas's picture

I don't care if they make money as long as the PMs continue the uptrend.

Tue, 04/09/2013 - 14:19 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Yes, I too wish Bitcoin holders all the best, but I will stick to physical gold and silver.

Tue, 04/09/2013 - 14:20 | Link to Comment francis_sawyer
francis_sawyer's picture

Frankly ~ I was kind of liking the downtrend [for practical purposes]...

Tue, 04/09/2013 - 14:32 | Link to Comment unwashedmass
unwashedmass's picture

 

yeah, well....my coin dealer is out on any eagles, and had just two size bars today --- not 100 oz, those were gone a week ago. two ten ouncers...one sunshine mining, one royal canadian.  

 

so practical purposes seem to have ended....unless you know of some untapped source. 

Tue, 04/09/2013 - 15:29 | Link to Comment francis_sawyer
francis_sawyer's picture

No ~ I don't [know of any 'untapped sources']

~~~

Appreciate the boots on the ground info [as I do with AMMO purchasers]... Both of which are a lot closer to where reality sits...

Tue, 04/09/2013 - 16:41 | Link to Comment phyuckyiu
phyuckyiu's picture

Wait gold is scarce? But but.... bitcoins are scarcerererer. I'll take Bitcoins for 10,000 Alex.

Tue, 04/09/2013 - 14:33 | Link to Comment unwashedmass
unwashedmass's picture

 

yeah, well....my coin dealer is out on any eagles, and had just two size bars today --- not 100 oz, those were gone a week ago. two ten ouncers...one sunshine mining, one royal canadian.  

 

so practical purposes seem to have ended....unless you know of some untapped source. 

Tue, 04/09/2013 - 15:06 | Link to Comment Al Huxley
Al Huxley's picture

Yes, exactly.  I'd buy if I could, but apparently, although the price is great, it's a pretend price, unless I'd prefer to settle for SLV (or maybe donate a little to the MF TBTFs by speculating in their rigged futures game).  Anybody who wants to mouth off about how 'silver's going to 20' needs to start by explaining why, if it's going lower, I can't buy any NOW.

Tue, 04/09/2013 - 22:21 | Link to Comment RockyRacoon
RockyRacoon's picture

U.S. Mint had a sales report yesterday.  They sold 21,500 ounces of gold eagles...2,000 one-ounce 24K gold buffaloes...and 833,000 silver eagles.

Find one of the primary dealers and buy from them:

http://www.usmint.gov/mint_programs/american_eagles/?action=american_eag...

http://www.usmint.gov/mint_programs/american_eagles/?action=lookup

Stop all this "I can't find any" bullshit.  There's just not any in the place you want to look.

Pay the premiums and move on.  What you buy will look cheap soon enough.

Tue, 04/09/2013 - 14:22 | Link to Comment Dagny Taggart
Dagny Taggart's picture

Agree Do Chen. And furthermore, how does one misplace a Bitcoin in an unfortunate boating accident?

Tue, 04/09/2013 - 14:25 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

You lose (or forget) your password........something I did this morning with my computer. :)

Tue, 04/09/2013 - 14:31 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Yeah, well that's what you get when you choose a password like:

p9xj38q_7AAA^Sh7rj839\ep

Oh, wait!  How did I get your password???

Tue, 04/09/2013 - 14:36 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I don't care where you found my password as long as you leave my PM stash alone. :)

Tue, 04/09/2013 - 15:35 | Link to Comment francis_sawyer
francis_sawyer's picture

Get.Off.My.Lawn. [lol]

Tue, 04/09/2013 - 15:14 | Link to Comment terryfuckwit
terryfuckwit's picture

lol

Tue, 04/09/2013 - 14:33 | Link to Comment Bearwagon
Bearwagon's picture

By moving the wallet on an encrypted harddrive, maybe ... it's much like an ocean, where there's nothing to see ... but honestly, I'm not familiar with bitcoins.

Tue, 04/09/2013 - 16:44 | Link to Comment phyuckyiu
phyuckyiu's picture

Could you please explain to my grandmother about Tormail and Truecrypt and mounted drives and quantum mechanics. She's a little slow. But she really wants to make money in Bitcoins because her grandson told her it was TEH AWEZOMEZ.

Tue, 04/09/2013 - 14:36 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

@ Dagny

Do flash drives go bad in the water...?

Tue, 04/09/2013 - 14:40 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Only oily salt water. Stay away from the Gulf.

Tue, 04/09/2013 - 15:35 | Link to Comment francis_sawyer
francis_sawyer's picture

C'Mon man!... That's what's keeping out 'FREEDOM FIGHTERS' fit & trim in Afghanistan [& beyond]...

Tue, 04/09/2013 - 15:35 | Link to Comment imbrbing
imbrbing's picture

Ditto

Tue, 04/09/2013 - 14:18 | Link to Comment resurger
resurger's picture

Have you seen "Shaun"?

 

Tue, 04/09/2013 - 14:22 | Link to Comment Abraxas
Abraxas's picture

Rejoice in Crimex downfall. Hold to your precious like never before.

Tue, 04/09/2013 - 14:35 | Link to Comment seek
seek's picture

I've been following this for the past two months -- invnetories have been plunging.

And I kept linking to the bloomberg ( http://www.bloomberg.com/quote/COMXGOLD:IND ) to show it.

That link worked every day for the past two months. Now it doesn't. Pretty suspicious change.

The raw data is still available at http://www.cmegroup.com/trading/energy/nymex-delivery-notices.html fortunately.

Tue, 04/09/2013 - 14:49 | Link to Comment IrritableBowels
IrritableBowels's picture

Google shows the page was last updated/altered on the 5th.

Tue, 04/09/2013 - 20:23 | Link to Comment seek
seek's picture

So the decision was made this past weekend (or Monday.) Curiouser and curiouser!

Google's cache http://webcache.googleusercontent.com/search?q=cache:2XaTB73LkuMJ:www.bl...

is how it appeared up until yesterday/today.

Wed, 04/10/2013 - 06:26 | Link to Comment Gief Gold Plox
Gief Gold Plox's picture

Thank you for this. Something to keep a keen eye on.

Tue, 04/09/2013 - 14:37 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

we interrupt this thread to bring you the following breaking news....

"Premier Antonis Samaras held a special meeting with the foreign minister Dimitris Avramopoulos and other key officials this morning to limit the diplomatic damage from the 80-page report. The document – stamped “Aporito”, or secret – was drafted by a panel of experts appointed by the Greek finance ministry and delivered to officials last month.  The alleged claim against Germany reaches a grand total of €162bn, including €108bn for rebuilding the country’s infrastructure after the Nazi occupation from 1941 to 1944. This is 80pc of Greek GDP.The probe was chaired by Panagiotis Karakousis, director-general of the General Accounting Office at the Finance Ministry, and relied on 190,000 pages of documents scattered through the country’s ministries and archives."

http://www.telegraph.co.uk/finance/financialcrisis/9981837/Vast-Greek-war-claims-against-Germany-explode-like-a-time-bomb.html

Tue, 04/09/2013 - 14:45 | Link to Comment Pseudo Anonym
Pseudo Anonym's picture

perhaps the reason for this

"...Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001..."

is this (abramovich to take delivery??) http://tinyurl.com/bhpur85

Wed, 04/10/2013 - 05:25 | Link to Comment Gief Gold Plox
Gief Gold Plox's picture

Being prepped for shipping back to Germany. Randomly tungsten filled, naturally. More fun that way.

Tue, 04/09/2013 - 14:20 | Link to Comment Stuart
Stuart's picture

always sell into the rhino horn...

 

Tue, 04/09/2013 - 14:22 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Someone cue the song..."It's Just A Matter Of Time".

Tue, 04/09/2013 - 14:22 | Link to Comment slaughterer
slaughterer's picture

First $28, then $29, then $30.... repeat until $50.  

Tue, 04/09/2013 - 15:19 | Link to Comment dow2000
dow2000's picture

They are totally baiting the retial herd to chase the electronic returns while they hoard the real money as cheaply as possible.

Tue, 04/09/2013 - 22:25 | Link to Comment RockyRacoon
RockyRacoon's picture

Must.Keep.Stacking.

Yesiree, Ms Taggart!  Unless one must trade a little for like-kind essentials like a sanctuary, food, ammo, or farming.

Tue, 04/09/2013 - 14:05 | Link to Comment Duffminster
Duffminster's picture

Anyone following the precious metals may want to know what this article says:

Comex Gold Inventories Collapsing Most on Record

Tue, 04/09/2013 - 14:34 | Link to Comment Scro
Tue, 04/09/2013 - 15:08 | Link to Comment Al Huxley
Al Huxley's picture

Great, that's good to hear - February report, but still...  So tell me, since stocks are so great, why are all my local dealers out?  Just bad planning?  By all of them?  At the same fucking time?  I'm anxiously awaiting your explanation.

Tue, 04/09/2013 - 15:31 | Link to Comment ziggy59
ziggy59's picture

If you were a LCS, and bought your inventory in past 6 months.. Would you be selling now? I wouldnt be and would say im out.. Lets see how much they have to sell when Ag goes above 30

Tue, 04/09/2013 - 16:33 | Link to Comment NotApplicable
NotApplicable's picture

When prices have fallen significantly, my local dealer will pretty much always sell any inventory on hand for his cost plus 3% plus market premium. The only time he might go higher than that is if he's about out. As always, I'm free to either take it or leave it.

As long as both of us realize that Comex price is not necessarily phys price, it ain't nothin but a thang.

Tue, 04/09/2013 - 16:41 | Link to Comment Al Huxley
Al Huxley's picture

Has never been an issue in the past.  Spot + ~7%, regardless of the price trend.

Tue, 04/09/2013 - 14:07 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

At some point in the future we will regret not selling the kids to buy moar silver now.

Tue, 04/09/2013 - 14:25 | Link to Comment FeralSerf
FeralSerf's picture

And all this time I didn't realize the kids were an asset.  I've been carrying them as a liability on the family balance sheet.

Tue, 04/09/2013 - 14:39 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I recently began depreciating them as a diminishing asset while still claiming the $1,000 tax credit for each one. The IRS wants me to come down and talk. :)

Tue, 04/09/2013 - 14:08 | Link to Comment MFLTucson
MFLTucson's picture

Squeeze my balls jack, this is all part of a fucking game by these gangsters.

Tue, 04/09/2013 - 14:09 | Link to Comment Lost Wages
Lost Wages's picture

Coming Soon: BitStocks! Shares of imaginary companies that don't exist.

Tue, 04/09/2013 - 14:26 | Link to Comment DblAjent
DblAjent's picture

Classic!

iBits, BitClouds, Bit-er

Tue, 04/09/2013 - 14:31 | Link to Comment natronic
natronic's picture

Probably the most sought after stocks of the century!!

Tue, 04/09/2013 - 14:37 | Link to Comment DCFusor
DCFusor's picture

Too late, we already had the .com boom/bust.

Tue, 04/09/2013 - 15:08 | Link to Comment RSBriggs
RSBriggs's picture

Actually that's kind of happening.  Lots of ASIC super-bitcoin-mining computer distributors that have been promising delivery for months now.  But they don't have anything except a website and a bitcoin address to send your bitcoins to.  Many. many scams out there.   Be cautious.

Tue, 04/09/2013 - 17:06 | Link to Comment Lost Wages
Lost Wages's picture

Any scam using bitcoin seems unprosecutable as there is no government or centralized authority to hear the case. Would be like suing someone for stealing your bow & arrow on World of Warcraft.

Tue, 04/09/2013 - 14:08 | Link to Comment cherry picker
cherry picker's picture

BitCoin I trust less than the IMF's recent advice that more QE is welcome.

The market will fall as the old adage, what goes up must come down, applies.

Neither BitCoin nor QE or the stock market does a damn thing for Main Street.

Why can't people figure this out and do something about it?

Without Main Street, QE, BitCoin, stocks and eventually Nations, are fucked.

Tue, 04/09/2013 - 14:08 | Link to Comment resurger
resurger's picture

TPTB are really Happy that they have Bitcoin now, It's digital = Can be manipulated...

I dont trust Bitcoins

Tue, 04/09/2013 - 14:13 | Link to Comment Supernova Born
Supernova Born's picture

Bitcoins were laughed at by TPTB.

Now they are patting themselves on the back for the "Big Lie" simplicity of their creation.

Tue, 04/09/2013 - 14:54 | Link to Comment DCFusor
DCFusor's picture

First they laugh....then you win.

And to the poster who thinks there's a special tie between digital things and manipulation, or that it's mainly or only digital things that are - what color is the sky on your planet?

Tue, 04/09/2013 - 15:22 | Link to Comment resurger
resurger's picture

Who the fuck is the poster to disagree with your statement  .. bitcoin is going to $400 in 2 days.

I hpoe you are happy now, go buy more.

 

Tue, 04/09/2013 - 16:09 | Link to Comment The Abstraction...
The Abstraction of Justice's picture

I sold a kg of silver today to buy more btc. When it goes to 400 I will sell and buy 2kg silver. Hehe. 

Tue, 04/09/2013 - 14:10 | Link to Comment IridiumRebel
IridiumRebel's picture

i stacked last week in Ohio. Week before I tried in NYC. They wanted 46 per oz of silver PRE-tax. I laughed and walked out. I count the days NYC........

Tue, 04/09/2013 - 14:20 | Link to Comment CunnyFunt
CunnyFunt's picture

Zoland on 47th ... ask for stern's booth ... spot +3 ... lots of junk silver, too

Tue, 04/09/2013 - 16:33 | Link to Comment IridiumRebel
IridiumRebel's picture

Thx Cunny!

Tue, 04/09/2013 - 16:43 | Link to Comment CunnyFunt
CunnyFunt's picture

Y.w., ir.
I neglected to mention that's the "cash price".

Tue, 04/09/2013 - 14:49 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

You are picking a good time to get out of NYC.  Actually, anytime is a good time to get out.  NYC is really for tourists only.

Tue, 04/09/2013 - 16:35 | Link to Comment IridiumRebel
IridiumRebel's picture

Between July and August DoChen. Counting the days....

Tue, 04/09/2013 - 14:10 | Link to Comment francis_sawyer
francis_sawyer's picture

Blythe must have become hypnotized by bitcoins for a day...

Tue, 04/09/2013 - 14:09 | Link to Comment Iocosus
Iocosus's picture

From the technical observer, that's a bearish chart. To the enlightened, it reeks of manipulation. Is there a silver bullet (coors light sucks)?

Tue, 04/09/2013 - 15:43 | Link to Comment JimBowie1958
JimBowie1958's picture

Wouldnt seperation between physical silver and the paper silver in the popular mind not let physical to rise in value despite the crushing of the paper silver?

Maybe goldbugs just need to hire a good PR firm.....

Tue, 04/09/2013 - 14:09 | Link to Comment johnnymustardseed
johnnymustardseed's picture

Daily paper prices mean nothing... the smash down will come again soon. The only thing that matters is physical

Tue, 04/09/2013 - 14:09 | Link to Comment Supernova Born
Supernova Born's picture

Ben has created more wealth than any single human who has ever lived.

Tue, 04/09/2013 - 14:27 | Link to Comment Bear
Bear's picture

Moar money too. He traded his helicopter in for a 747.

Tue, 04/09/2013 - 14:43 | Link to Comment Supernova Born
Supernova Born's picture

Like treason, "money's" relationship to actual wealth is a matter of dates.

Ben's title is only printed on paper.

Tue, 04/09/2013 - 14:11 | Link to Comment OutLookingIn
OutLookingIn's picture

$239.00 worth of BTC?

Or $239.00 worth of physical silver?

Lets see now....

Tue, 04/09/2013 - 14:54 | Link to Comment Supernova Born
Supernova Born's picture

TPTB see that $239 worth of bitcoin as $239 worth of physical PMs that don't have to be delivered.

Tue, 04/09/2013 - 14:37 | Link to Comment Pareto
Pareto's picture

As has been said many times: "If you can't touch it, then you don't fucking own it."  Period.

Tue, 04/09/2013 - 16:43 | Link to Comment RebelDevil
RebelDevil's picture

Times have changed son!
#Crytography

Tue, 04/09/2013 - 16:53 | Link to Comment phyuckyiu
phyuckyiu's picture

So if my house catches fire accidentally, my flash drives will still be intact but my gold will have melted, is that right?

Tue, 04/09/2013 - 17:33 | Link to Comment RebelDevil
RebelDevil's picture

Bitcoins on a flash drive is simlar to dollars in terms of tangiblity. However, bitcoin is not a fiat currency (pro), nor is it money (con). - I applaude your scarcasm! xD

Is that another condition for something to be money: indestructablity? 

http://www.zerohedge.com/contributed/2013-04-09/bitcoins-or-gold-part-i

Tue, 04/09/2013 - 14:11 | Link to Comment hairball48
hairball48's picture

I'll keep stacking my silver thank you very much. "BitBubble" doesn't work for poor folks like me.

Tue, 04/09/2013 - 14:12 | Link to Comment Richard Head
Richard Head's picture

I defy any Bitcoin pumper to explain the cryptology behind this supposed revolutionary "currency."  Most of the promoters probably don't understand cryptology any better than they understood JDSU or pets.com.

Tue, 04/09/2013 - 14:33 | Link to Comment malikai
malikai's picture

Yea, if you're not going to make the effort to learn, then it's really your problem.

Nobody else can (or should) teach you other than yourself.

Tue, 04/09/2013 - 16:06 | Link to Comment The Abstraction...
The Abstraction of Justice's picture

True, but you don't have to understand how a chicken makes eggs to enjoy an omlette.

Tue, 04/09/2013 - 16:52 | Link to Comment RebelDevil
RebelDevil's picture

If one is skeptical that eggs are healthy to eat, then you do need to understand how a chicken makes an egg to enjoy an omlette and not be concerned with keeling over in pain.
#Rationality

Same goes for bitcoin. - for the skeptics: Go Study!

http://Bitcoin.org/bitcoin.pdf

Tue, 04/09/2013 - 16:58 | Link to Comment Richard Head
Richard Head's picture

Ok then, let me dumb down my question a bit more for you: if you believe in Bitcoin, do you understand what is written in the PDF you referenced?  I don't, and I doubt 99% of Bitcoin owners do.

Tue, 04/09/2013 - 17:10 | Link to Comment RebelDevil
RebelDevil's picture

Actually yes, for the most part I do. (Being an INTJ helps.)
The PDF is pure logic and concept, no computer code. So taking out 2-3 hours of time for a though read with googling terms and computing concepts may make your head hurt, but most of your doubts that bitcoin can be compromised will be gone by the time you are done. I was skeptical too, but I kept an open mind and studied it.

Btw, seting up mining is just as complex, or more than the PDF. So I know there are a lot of people who do know for a fact the security of the bitcoin protocol.

Do NOT follow this link or you will be banned from the site!