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Gold, Silver In Asian Liquidation Mode As China Growth Slows More
UPDATE: Spot Gold $1426 (from $1564 highs Friday)
As Asia opens to the bloodbath that occurred in precious metals on Friday in the US, it would appear that more than a few traders got the 'tap on the shoulder'. Shanghai futures are limit-down and spot gold and silver prices are plunging once again as we suspect forced margin-calls and the raising of cash (to cover extreme variation margin - or capital reserves) needed in JGB positions, as we explained here. Liquidation is certainly the theme of the evening - investors are selling JGBs (6th day in a row of multiple-sigma moves in long-dated Japanese bonds 30Y +56bps off its post-BoJ lows at 1.60%!), selling Japanese stocks (Nikkei -128 pts, second biggest down day post-BoJ), selling US Treasuries (futures down), selling gold and silver (gold spot down over $100 from Friday's highs), and despite selling JPY early (retracing 30% of the weakness post-BoJ), JPY is practically unchanged (jerking lower only on the US futures open and Asian equity open) - it seems Mrs.Watanabe is struggling and unwinding some her excessively short JPY and long NKY positions.
Gold down over $100 from Friday's highs...
Which takes spot gold back to the 38.2% Fib retracement of the most recent low to high swing...
Tokyo COMEX Gold -9.2% (limit down) - looks like a giant post-BoJ roundtrip...
Silver ugly too...
Another day, another 4-sigma move in JGBs...
and post the China data...
- GDP Miss
- Retail Sales Miss
- Industrial Production Miss
- Fixed Asset Investment Miss
which stands in the face of the 'survey-driven' PMI data...
... everything is red - JGBs down, Japanese stocks down, US Stocks down, US Treasuries down, Gold and Silver down, Copper down, Oil down, Rubber futures limit down
Charts: Bloomberg
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I was wondering when when hong kong was going to pull a comex style takedown.
yup got greedy and should have sold the silver around 50.. was telling everyone it was headed for 70.. ten bux says the next run up will push close to 60 . maybe even higher depending on how bad inflation takes off
Ok; I take it back!
bounce up again?
Not much has happened yet.
The real moves are at least 5% drop/day for at at least 3 days in row.
And of course, do not forget to check the most important thing of all : CRUDE OIL
http://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
http://www.marketwatch.com/investing/future/LCOM3?countrycode=UK
Trick question:
If the US gov prints dollars, dollar value will go down.
So the trick question goes: If Primary Dealers PRINT GOLD, what happens to the PRINTED GOLD PRICE?
Another trick question: Is anybody selling physical gold at this price or is it that people OWNING EXCESSIVE PRINTED GOLD ON MARGIN, are suffering a margin call?
Tip: Spot gold price does NOT mean immediate delivery, it's simply PRINTED GOLD SPOT PRICE.
http://globalcfd.com/?p=1396
They want you to sell your paper PM's....They don't want you to take possession like the insiders are
Again, they got you looking over there....the real action is the opposite direction....
On tax day, no less. What a bunch of fucking assholes.
No doubt! I keep checking but my tax bill is the only thing not going down.
Tax day.. And ill Kims bday.. Isnt he supposed to like fireworks?
...and yet...bankers are making record profits this last quarter....
Never panic out of cash, and never panic out of precious metals. Keep that in mind so as not to be a sheep. If we can do that we can collectively start to move these markets in our favor.
Same shit happened in the 70s. Sit tight and be right. PMs are in insurance. You'll be glad to have them when the time will come.
True. Same shit, differant day. Same whore politicians overspending for their nazionists.
Here's an interesting perspective. The Webbot people (whom I am NOT associated with), for years have said that the main signal for the dollar collapse is when you see silver price movements of +/- $5 per day. Friday was starting to move in that direction... and we'll see how overnight and tomorrow looks.
Also, they have also identified an "information gap" starting in May 2013 for approx 14 months, where it is as if there is no internet during that period.
Now this guy has been largely ignored/discredited because of a lot of misses... (actually his off colored opinions as opposed to sticking to what the data said), but consider this - his early and accurate hits showed up in his work in the late 1990s, so I'm not too quick to dismiss him entirely. He predicted Sept 11th, the Banda Aceh tsunami of 2004 and the "oil volcano" (BP spill in the gulf).
So stay tuned... those early predictions were pretty accurate.
He also predicted the the mine collapse- the copper, gold, silver mine that collapsed a few days ago..
Craziness. Gold up $25 in 1 hour - usually the cartel has a 1% rule on the upside.
Chinese data sucked. What was interesting is that gold fell 15 minutes before the Chiense data and has started to recover now. Oil and other markets fell after the Chinese data was released. We may be seeing a major turn.
Any chinese data multiply it by at least 4 on the negative side.
It feels like 2007 to me.
I think everyone should go about their normal business and in about a week's time we can survey the damage to the economic landscape. The minute by minute observation of the market is meaningless unless you have inside information.
Love how obsessed people are, the trend in europe.... austarity and haircuts, both are bearish for gold. in US spending cuts are gaining traction but narative moving to cutting deficits, also bearish. Japan blowing up.... bearish (if you own yen then its bullish). China massively overleveraged banks.... bearish... you can ignore all the warning signs as long as you like, but if you listen to logic you can understand the move down, it has been at a premium for a long time, I mean who in there right mind would buy gold over the more useful and much more rare platinum?
(physical will probably diverge from paper prices for a short time as dealers dont want to take a haircut on their inventories, and the spread will increase but then ease as more people realize that the prices were inflated and sell more physical, give it some time then buy)
I'm upvoting you but only because of your second paragraph.
The guys over on Turd's site are gushing about these huge premiums and low/no stock at all their local coin shops. Same as when Silver came down from $50 as far as I can see.
Put nothing past these CRIMINALS!...Could make things so bad for most, will sell to survive!...
whole purpose for "stackin"...right?
Correct. We see right through them.
With shitty Chinese data a reread of Pettis's latest is worthwhile ... pretty scary http://www.mpettis.com/2013/04/11/the-challenges-for-chinas-new-leadersh...
Zhang Ping, head of the National Development and Reform Commission (NDRC), the top economic planner, said China as a manufacturing powerhouse has a serious overcapacity problem in some sectors.
The industrial sectors suffering most from overcapacity include steel, cement, electrolytic aluminium, plate glass and coal coke sectors, which are operating at 70 to 75 percent of their total capacity. Emerging sectors such as photovoltaic and wind turbine manufacturing have also shown excess capacity, with a 60-percent and 70-percent utilization rate, respectively, Zhang told a press conference held on the sidelines of the annual parliamentary session.
all you BitCoin haters can kiss my ass! Oh wait, gold and silver are blown out!!! Crap!
I love it...super fun. The boring market was getting boring.
See you at Gold:Dow 1:1 @ 5,000! Watch the see-sawing though LOL
Have no fear, natty will save the day....or at least equities.
$1400. Good for buying.
I am tired of waiting, and hate the CONgress, for their stupidity.
Brent still over $100. Doesn't really seem like news.
Correct
#1: The manipulators go hyper-short like crazy.
#2: The paper & physical price drops.
#3: Margin freaks die and must sell.
#4: I load up on physical at $1430.
#5: Physical supply gets tight.
#6: Big grin on my face!
#7: Wait for next smashdown, probably in 2014 or 2015
I like a bargain sale :-) And dislike CONgress.
Sell some gold after 2016, imo.
Right. I left one item out though. Just wait until the predators start cleaning out bank and trading accounts in more and more countries, including the USSA. You'll be able to identify people like you and me who stay 95% to 100% in physical, by the permanent grins on our faces. They ain't getting our physical, period!
See you at 1200
I seriously doubt it. But if we do meet at $1200, my average cost will still be under $600 per ounce. You think I'm going to cry over that? Nope!
If, however, you expect to maintain possession of your PM...you'd better be heavily invested in lead.
If you are in the US and reading ZH and NOT in lead then you are a bloody fool.
I left the USSA over 3 years ago, moved to the extreme boonies of a low-population-density land that is not crazy yet, and built myself a self-sufficient place without road access, and only 20 humans living within 120km. I'm pretty safe here.
Can't see my place from the air, can't drive to it in any land vehicle, and can only land in a helicopter or airplane (like mine) that can land and take-off in less than 100 meters. I do have some boxes of cheap heavy metal, and a pea-shooter to hold several at a time, but doubt I'll ever need them. In fact, I doubt I'll ever see a single human being where I live... ever. Unless they fly in with me for a visit, that is.
As far as I'm concerned, anyone in the USSA is a fool, well armed or not.
interesting....approximately in what country are you?
See above.
Sounds awesome. Can you at least telll us what continent?
Better start with which planet.
Unfortunately, earth for now. Once that changes, you won't ever find me on a freaking planet again! In or behind an asteroid or burned-out comet, or perhaps back home to Phobos, which is a weak enough gravity well to be tolerable.
I may be overly paranoid, since I am not part of any resistance or anything like that, but I don't tell anyone who isn't a very close friend and collaborator on the team I work with (a scientific endeavor).
But I have described the final places on my "short list" after 5 years of research and physical exploration on ZH in the past. Some of those messages are very long, and I hesitate to repeat them again, even though I type super fast (and create typos even faster).
Here are a couple of the most important principles that I ended up giving the most weight to.
#1: Most important, don't live where you are a "citizen" or even "permanent resident". No matter where you go, the predators-that-be consider their "citizens" to be their outright "slaves", and subject to their every whim, no matter how absurd. In contrast, "visitors" and "travelers" tend to be thought of and treated like "welcome guests", because they are seen as spending outside money into the local economy.
#2: Live somewhere the "government" is poor, laughable and incompetent, and stay far, far away from the capital city and major cities. Some of the best places to live in fact are absolutely terrible on paper (in theory). One example of this is Fiji, where some dude sorta declared himself king, and rules the place. On paper, who wants to live anywhere ruled by an all powerful ruler? But if you're not someone "against him" and his silly government, you are completely uninteresting to him and his keystone cops. If you live on one of the other 300-or-so islands, you're pretty much outside the domain they think about. Fiji is also good because it has zero property taxes, you can own land outright, and live cheap as long as you're away from the resorts. If you have $1-million or more, you can even own a very nice little island. Alternatively, live where the government is still largely benevolent and hasn't gone predatory yet. Chile is one example of this. And Vanuatu.
#3: Live as far away from population as you can tolerate personally. For me, that's easy, since I'd love to live on an asteroid or moon all by myself. For those who aren't as wacko as me, surely you can stand a small town of 100 or 1000 or 10000 to settle in (and importantly, far away from the nearest city).
#4: Live where the weather is comfortable to you, and unlikely to require huge energy requirements to heat, cool or dehumidify.
#5: Build self-sufficient digs. Solar/Wind/Batteries for power, water well [and filtration/purification if necessary], small garden/greenhouse, room for storage, ammo and weapons (not as important if you're as completely isolated and unreachable as me).
Some places that were on my short list:
- Fiji
- Chile
- Nepal
- Burma
- Iceland
- Vanuatu
- Thailand
- Mongolia
- Argentina
- Cooke Islands
- Easter Island or Galapagos
- other isolated south-pacific islands
- lots of interesting little islands near indonesia
If you're willing to live far, far away from civilization and don't mind freezing your butt off, places like Canada and Alaska might even work (but much too NWO for me).
I love warm water (ocean or lakes), but also love desert, low humidity and huge mountains, so everywhere is necessarily a tradeoff for me. Can't have perfect everything. Fortunately for me, I got a private pilot license many years ago, and the perfect little high-tech airplane for me just became available in the past year or two. So now I can land right at my digs in less than 100 meters of flat rock/road/dirt/grass/weeds, fly at up to 300kph locally, and well over 4000km non-stop per refuel at economy speed (~250kph and 75 miles-per-gallon on unleaded automobile gasoline). Which means, I can fly all the way across the south-pacific ocean if and when I want. I'm not saying that is the safest thing in the world (across 4000km of empty ocean with only 1 engine), but what the hell. Life is to be enjoyed. So far, most of my flying has been over land or within gliding distance.
I don't want to say anything to narrow down my location, but I have already stated elsewhere that I'm in the southern hemisphere, so now you know that much. And I'll add that english is not the primary languages spoken here, but that pretty much applies to all the countries I listed above.
BTW: There is no "best place" on planet earth, so get that idea out of your heads. What's best for any individual depends very much on their personal likes, dislikes, inclinations and requirements. But those guidelines are important, so consider them. Oh, and finally, the doors out of the evil empires will be shutting soon, and the doors into the better places will also be shutting soon, so if you're going to save your butt, you better get moving... real quick like.
who plays strip poke-her or chinese chekkers with you when the sun sets?
Do you have any iguanas or alligators or lost tribes of zebras to console you with a " Wakunamatata" wake up call?
You sound like "I once had a farm in Africa" type with a Finch Hatton in your fridge.
I'm quite happy when I'm alone. I'd be quite happy with 1, 2, maybe 5 other like-minded folks around too, but most certainly "not just anyone". I'm not in Africa, mostly because I never did any research or exploration of that continent. I bet there are some great places in Africa, though.
Nah, my digs are completely constructed to my tastes from scratch. Took me about 3 years total. Not luxury, but quite comfortable and high-quality, but a bit spartan (which I prefer). I love boonies, love isolation, but I'm very much a high-tech kind of gal, not a cowgirl (unfortunately) or rough-it-type. I lived alone at a remote self-sufficient (except food) mountaintop research facility for several years, so I am quite certain I love this kind of isolated life, the longer term the better. The only reason I'll ever leave my personal little paradise is to move into outer space, if that part of the plan works out. If I didn't have an itch to encourage and help the few other sane, brave folks out there who are actually willing to jump ship and vanish, I'd go totally silent. In fact, I'm always on the verge of doing so, because I just don't see anyone else doing what I did.
Sounds absolutely awesome, wish I was one of those 20 humans in your vicinity. God Bless - but if you;re on ZH, you are leaving a trail - just depends on if it's worth their while to find you or not.
I have a rather indirect connection, but if someone like NSA had any reason to really, really, really badly want to find me, they could get within about 200km. But that would require a lot of effort, and there's nothing interesting about me except my opinions. I'm not part of any resistence or anything like that. Since I'm not in their fictional territory or jurisdiction, the chances they'd give a crap about me are near zero.
I have a feeling that someday the population of my town will exceed one. But you never know. Plenty of water, power (solar/wind) and space to grow more food. But I definitely don't want to paint a bullseye on myself or my digs, so anyone hanging out with me would need to be okay with being isolated while they're here (the only exception being the internet, but if things get really bad, I'll happily cut that out too).
LOL at the Bloomberg stories now:
Gold, which plunged into a bear market last week, extended a rout to the lowest level since April 2011 on expectations that demand for haven assets will contract as the global economy improves. Silver slumped.
AND AT THE SAME TIME:
West Texas Intermediate dropped below $90 a barrel for the first time in more than a month as economic growth unexpectedly eased in China, the world’s second-largest crude consumer.
.....don't bother......60% of articles in the MSM are done by computers
Jim I've mentioned those contradictions many times myself. What's even funnier is when the Doomborg scroll on TV has back to back blurbs of why gold is up immediately followed by why gold is down.
There a chart of physical?
All the transactions are a secret. But if you go to KWN you can be assured they are MUCH HIGHER than current prices. MUCH!!!!!
There's like 4 guys there who cannot name their sources or provide proof, but they see it every day and it's all gonna show up... soon...
Slowly, slowly catchy monkey. There will be no chart for real things.
My nuts hurt.
You goota loosen your bolts...
You gotta tell her, "NO TEETH!"
The only two places it's polite to yell "Bite bitch" are in a whorehouse and on the golf course.
It was her forehead...
You gotta chase away the squirrels.
Call a dealer, and see what price you can get on Monday? If you're lucky, you can cash in on the weak hands unloading, before it gets any lower on them.
Anyone see that Eric Sprott is selling some of his holdings?
http://www.theglobeandmail.com/globe-investor/inside-the-market/eric-spr...
In the movie version of 'Atlas Shrugged', the second installment of the 3 part movie adaptation of the book - this mine 'landslide' was a self-inflicted bombing to shut down the mine just before the owner went 'Galt' as the country was being socialised by the government who was taking everything of value.
Strange times....
------------------------
5 million ounces of annual silver supply and 500,000 ounces of annual gold supply have just been vaporized (in a) landslide.
Rio Tinto’s Kennecott mine in Utah- the US’ 2nd largest silver mine and world’s largest copper mine has just suffered a massive landslide which will likely shut down production at the mine for years as upwards of 1 billion tons of dirt and ore have collapsed into the basin.
16% of US annual silver production just vanished.
http://silverdoctors.com/10-of-us-annual-silver-supply-just-vaporized/
!!!!! HOLY CRAP !!!!!
I didn't do it. Honest!
i don't know hone stann, i don't knooooowwwww
Ya I've been saying I don't trust these "accidental" mine closures... though I don't take the angle that they're trying to cut silver and gold production. I think they're trying to cut their Copper supply. Warehouse stocks are record highs.
But you're talking about real gold and silver. Real gold and silver have no relationship to the price. Unreal, huh?
I read this blog post every now and then: "Inflation, Hyperinflation and Real Estate (or, The Lessons of The Great Hernán P.)"
http://gonzalolira.blogspot.ca/2011/02/inflation-hyperinflation-and-real.html
Just because the price is low doesn't mean you will be able to buy. You might shake out a few people who need $, but others will end up holding out for higher prices.
This is sunday night. The friday losers already recieved their margin calls so the cunts in london and newyork will have to get it down further to get more margin calls?stops run by tomorrow afternooon. Andrew Mcguire just said this will last three days only because there is no physical.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Maguire_-_There_Is_Absolutely_No_Physical_Gold_For_Sale.html
The smart set .... who thought they would .... change their paper for fizz .... at the last moment .... are watching the fizz .... pull out of the station .... this is what a panic looks like .... out of paper .... into fizz .... like in 1929 .... out of stocks .... into gold certificates ? A Gold coin in the hand .... is worth two ... in the vault !
wheeze much?
Strange, my rubbers are limit up !!!
Bitchez...
You can bank on Krugman loving this and laughing his ass off: "But, but it I'd supposed to go UP!"
For those of us who have kept their fiat dry, this is BTFD Central! We are in it for the long haul.
$1400 is a gift given by fools. It is Sunday. Let's pray it is so :-)
either I or the markets just had a siezure*...
maybe both. christ...
*referring to medical, not confiscatorial, nature, although now that I menton it...
PS: WEAREFUCKED.BUTBRINGITONBITCHEZ.
My gold slept in the ocean last night !
RING sure is not pretty. Glad it is only 1% of my portfolio.
Market Return %(as of 03/31/2013) NAV Return %
(as of 03/31/2013) Market Return %
(as of 03/31/2013) NAV Return %
(as of 03/31/2013) 1-Month -0.12% -0.50% -0.12% -0.50% 3-Month -16.86% -16.48% -16.86% -16.48% 6-Month -29.05% -28.92% -29.05% -28.92% Year-to-date -16.86% -16.48% -16.86% -16.48% 1-Year -26.41% -26.83% -26.41% -26.83%
Has anyone seen my Zyklon-B?
Guess the recent Goldman call wasn't so bad after all, huh.
Gotta love how the one out of nine they get right goes against the common man dontcha?
Predicting a gold smackdown is about as impressive as predicting sunrise...
Actually, I want to know how Faber and Rogers predicted a correction to about $1400 a couple of months ago.
There's a reason they're rich and friends if Soros. I wouldn't he surprised if they've been shorting it also, to pick up deals/ phyz after the bloodbath.
Gold has been capped at 1600/1670 since the start of the year, that and DXY has been bid and steady for over six moths. That indicates a tightening of global liquidity = Asia. The slowdown/crash is starting there. Also all indust commodities have tanked since the start of year too i.e iron ore, copper (major bell-weather). Oil also has taking a hit.
This is embarrassing for the Fed who's QEinfinity (last 8mths) has allowed the Wall Street cronies to make $ on stocks. If this is a deflation trade stocks will re-couple with commodities or crash further.
Governments have no ability for stimulus if this is a full blown global meltdown. Gold has supports at 1200, could fall further. War would make it bid, could happen at anytime
Double post
.
first it is about storage of wealth.. now it is about how high I can cheaply get my stacks to rise.... not a crash.. a buying oppurtunity...
funny how my wealth is protected a bit better in bitcoins and can easily buy some more gold once it tanks some more
Looks like I'll be bying a little more of both in the morning.... Everything is on sale, except stuff you need, like, say, grocieries. Am I the only one around here that can remember when Frosted Flakes used to be sold in boxes that held a lot more than just three fucking servings???
Nope, I remember the same thing. Used to take a week to eat a box of Wheaties. Opened a box of some chocolate peanut butter natural organic cereal (this is California, dude... and it was stocked by some heavily tattooed dyke in Birkenstocks and blood red lipstick) and all I got was 3 servings each of which were comprised of at least 50% sliced bananas.
Even the extra large 17"x3" especially greased condoms don't fit anymore.
LOL...I've literally gone through a box of cereal in one sitting...
I haven't eaten ceral in years except for a stay overnight with the folks. The reason? Price per volume. I'm a pretty damn good egg chef anyway (sometimes I can get downright experimental, and it always ends up enjoyable) though, eggs are about the only thing I can cook and wifo does the rest.
You forgot to adapt to the new chained cpi...use smaller bowls.
Your wealth was better protected in Bitcoin? It fell from $260 to $100.
Despite any protestations that you might muster to the contrary, I'm going to assume that bought 20% of what you currently possess at $20 and that after the big blow-off top, before it collapsed, you started to believe your own pump and bought the other 80% between $220 and $260.
That's generous too. Most of the people posting here are smarter than me, and probably believe you bought 90% of your bitcoin "stack" at $260.
I bought all mine below 50, averaging 44. When the price reached 200 I was telling my friends to buy silver instead.
Fuck this slam. I went all in gold at 650. If I had cash now, I'd buy more gold. Much happer to give my heir gold and some silver than fiat paper. I may never see gold go back to near 2000, but my heair damn well will. There's some comfort in that.
It's the end of the wold
Brooklyn?
I thought it was TEOTWAWKI once, but I found out I was in Nebraska.
USMINT.GOV is releasing the 2013 Gold Proofs this week with pricing 'TBD'.
Their pricing is at a premium directly related to Spot. On a weekly basis. That should be interesting.
Bottom line: While mainstream voices question whether or not gold is still in a bull market, smart money appears to be questioning something else. They appear to be asking themselves, “Do we want to continue storing our physical metal within the Comex system? How can we best whisk it away from fraud, theft, or bankruptcy (including our own)?”
It's good to be connected....
Just like the many Cyprus's....the connected get out safe
Gold Crash - Deflation
Gold-Crash, this is why:
1. Gold will continue it's generally downward path as long as this deflationary macro-pattern continues.
2. DISCONNECTION between the money supply and the money in circulation
http://homment.com/gold-crash-deflation
Money supply doesn't mean much to price inflation, directly. It is velocity of money that matters, and the vast majority of newly created money sits in bank vaults collecting dust. Increased supply can lead to increased velocity, but it doesn't have to, and right now it isn't. What it is directly responsible for is increasing the POTENTIAL for inflation.
When money is created with zero velocity the velocity per dollar actually decreases. It's mostly a wash until that money hits the open market. That is what we are waiting for.
Won't be waiting much longer. That smell of burning paper is PM ETF's going up in smoke tonite. Then it'll be the stock and bond markets, then the dollar. The fireworks this 4th of July weekend are going to be spectacular.
If big EU banks fail, a lot of that new money will cross the event horizon before it ever has a chance to hit the economy. Believe it or not - hyperdeflation is actually possible, even when the CBs are printing like mad.
Maybe it is Cyprus. Road map to Ruins.
I just bought moar silver. It's a bargain at these levels.
Only if you can get it near spot. Most premiums now are at $5+/oz....if you can even find it at all.
Ammo is even worse. None to be had even at "twice the price". If silver gets manipulated down another couple-bucks, there will be none to be had of it, either....
So true....GunBroker.com has been my only saving grace. God help us if they pass legislation on online transactions.
Most ammo in stock.
http://gungrabalert.com/freedom_resources.html
Provident has a boatload of takus available for $3 over spot if you bank wire in bulk, otherwise yeah it's about $5 if you buy small amounts with your credit card. Supply hasn't been drained yet but it will if these prices don't rationalize.
Buying for $29 is still a bargain.
You can still buy plenty of 10 oz. bars with very reasonable premiums.
Check the featured dealers here:
http://www.pmbull.com/silver-price/
Everything here is on "Delay"
http://www.jmbullion.com/silver/silver-coins/canadian-silver-maple-leafs/
I'm still a buyer at $29. Once the phyz is gone and the paper market dissolves, it'll be interesting how they price this out.
Fuck. I just love buying those silos! Its like a fucking addiction! I love it love it love it.
Ya know, one of the last times the economy tanked...2007/8-ish, gold and silver took a very big hit early on .... then as it looked like the world was coming to an end, and it was ReInflationDeluxe by all the CB's a sweet rally began....
Just sayin'
I've been mocking gold bugs since it was $35 an ounce.
Whooda thunk that Gawd could ever be wrong! :>D
My Fidelity account won't display any information on my positions. Coincidence? Probably. Something to consider though.
Mine does. I just sold my oil stuff. I broke even. I'll take it. There's wierd shit going on.
Explain these numbers;
CNY Chinese Fixed Asset Investment (YoY) 20.9% 21.3% 21.2% CNY Chinese GDP (YoY) 7.7% 8.0% 7.9% CNY Chinese Industrial Production (YoY) 8.9% 10.0% 9.9%Come on now, Yen Cross. What kind of mind games are you trying to play here? You already know damn well those numbers can't be explained.
Comex Depository Warehouse Gold Stockpiles indicates that eligible is down appox 2 million oz. (in just 90 days). JPM & Scotia Mocatta have the largest drops in eligible.
The all-in sustaining cash cost for mining gold is aroung $1100 (for one company). So unfortunately that is the possible floor for gold.
That's not the floor for gold. I'd put a floor at $450.
Gold's PF chart prints the next stop is $1160. If it goes below $700, then it'll be cheaper than dirt. Where are your trucks?
Gold $700???? Never. If the economy ever got that bad the dollar would collapse before it hit $700.
put this in perspective. china's 5 trillion dollar economy(purchasing power parity at around 12 trillion) is growing at 7.7% WITH THE 1 BILLION WEALTHIEST PEOPLE ON EARTH IN THE DUMPER and it is bad news. china does not need the west to grow itself. it has reached critical mass, a self sustaining economy.
curious thing this weekend. i buy junk jewelry and coins. usually i can get several hundred dollars worth under the spot price especially when the jewels are factored in. junk silver coins are usually easy to get right around the current price of silver. i thought there would be some bargains out there this weekend and was shocked to see everything going for huge premiums. i am talking 40-50 dollars for junk morgans and little less for peace dollars. gold jewelry was ridiculous, selling for 1600 or more.
The girationing have yet to begin.
NWTM is still at about 1.50 in premium
http://bullion.nwtmint.com/silver_panam.php
Right. Provided U don't mind waiting 14 weeks for delivery. I speak from experience.
ALL IN, Bitchezz!
Ah.
Panic.
Just like when silver dropped to $9 4 years ago.
US government debt was about $10 trillion then, it's nearly $17 now. If you can't stand the roller coaster, get off before you vomit. I've been on this ride before. I suggest you accumulate, although I cannot say it won't go lower. I can say, the US dollar is going to $0.
Might be too early to go all-in. TPTB have done a great job crushing metals and inflating S&P to infinity. Even if they only have a few months left in the ramp tank, it could crush the living shit out of you. We are in uncharted waters. Currently very cautiously pessimistic.
No metals have been crushed. It's the PM ETFs burning away. Then, in sequence, the stock mkt will collapse, the bond mkt will collapse, and finally the dollar will disappear as well. What a great time to be alive!
this is a move to save the dollar. http://goldtrends.net/FreeDailyBlog?mode=PostView&bmi=1267250
A very good read. Interesting concerning the impossibility to get the physical during those vital times. I've been hit for 10% at least of my total wealth with the events of the last week, yet I have a calmness I cannot explain. It does not matter, it's all coming back and some, when the time is right.
china is trading with australia and brazil and others directly in its own currency. usa is manipulating commodities to make it look as f the dollar is getting stronger. and krugman is chearleading the way. pathetic, sophomoric and desperate....
tyler should feature this article
Hey good eve to all. Quite the busy night for the late night crew, eh!
Here is a little intermission for you all. Kinda funny about the truth that is getting brighter and brighter, and harder and harder to hide. Ya gotta love the way this cat lays it down.
"Virtual war is an imaginary war fought only in the major mass media, and the enemy is the news consumer or the public which is psychologically managed. Virtual war is a newer type of warfare which is a major Psychological operation, (aka a Psyop), that is, an act of Mindwar against the people."
Operation Decepticon—North Korea:http://www.veteranstoday.com/2013/04/14/operation-decepticon-north-korea/
The West is broke so it goes virtual.
Lemme see... How long ago was it that I said that China could buy up phyz? Now they BTFD in phyz, while the programs are 'frozen'. LOL.
silver is still 30+ on apmex.
Is physical available at $24?
You can buy as much generic bars and rounds as you like for spot + $1.50 with free shipping. Maybe a little more at Apmex. But that's the price at NWT Mint and others.
WARNING: For entertainment purposes only - BI Joe goes full retard (again): http://www.businessinsider.com/everyone-should-be-thrilled-by-the-collap...
Joe is an even stupider fuck than I had previously thought. The BI app was just deleted ....
What a mess. I wonder if TPTB are watching this and wondering if their worst nightmares are being realized. That is, they've finally lost control of the markets. They may think the crash in PMs (paper only) is a positive thing but it could trigger a system wide failure in equities, debt, FX, derivaties, real estate, you name it. Overally leveraged markets, all receiving margin calls, and all selling everything they've got to keep a float.
The real story is going to be based in phyiscal prices/availabilty versus paper as any whisper, hint, comment, thought, you name it on a default at one of the physical exchanges will cause all hell to break loose. And unlike fiats, gold can simply not be manufactured out of thin year.
Been through this before in a 30% correction in PM prices back in 2008. The issue then as I suspect now is a major event is about to occur as PMs are a leading indicator to these types of events. Need to re-affair the value of fiat as someone, somewhere is about to fail. Cyprus is a joke given its size. Greece is already fried. Portugal and Ireland, well who really cares. These locations are completely immaterial. No, now we are moving to the real game as Japan, Italy, Spain, France, China, and other "large" economies are about to get cued up.
Buckle your seatbelts, grab some beers, and fire up the popcorn machine. Wild swings in all asset prices are about to become the norm but let's face it. If the Fed looses control of the US equity markets and UST's start to feel the pain, well than its game over. Excessive leverage will result in unmanagable margin calls with nobody left to buy. What a fucking mess!
Re TBTB:
Karma's a bitch.
It would take far less than one billion delivery of silver to bust comex. If I had holdings of GLD or SLV I would be thinking about demanding delivery NOW, as in TODAY!
Option expiry coming up.
Going to wait it out as I doubt we have hit the bottom yet.
But my buying hat is on.
Shoot low boys they're riding Shetland ponies.
Gold is not trading too bad since the low- considering all the technical damage-back testing and filling-can't ask for much more-