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Silver Is Having Its Best Day in 15 Months

Tyler Durden's picture




 

In all the excitement over gold, silver has been largely ignored or forgotten. Today, it was the "poor man's gold"'s turn to stae a dramatic comeback posting its biggest single-day jump in 15 months. Having now retraced the Fibonacci 38.2% level of the record plunge, it appears $25 is th enext target - which is around 50% retracement levels.

Best day in Silver in 15 months...

 

with a target for 50% retracement at around $25...

 

Charts: Bloomberg

 

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Thu, 04/25/2013 - 14:27 | 3498908 Ruffcut
Ruffcut's picture

Hi ho silver, away

 

Thu, 04/25/2013 - 14:39 | 3498962 MillionDollarBonus_
MillionDollarBonus_'s picture

It's quite amusing to watch the wide-eyed silverbug lemmings cheer as silver bounces before it's innevitable plunge to fair value at $18 an ounce. It seems that there is no level of dignity or rationality that silverbugs aren't willing to sacrifice in order to satisfy their dreams of world domination.

Thu, 04/25/2013 - 14:41 | 3498983 SemperFord
SemperFord's picture

So now it's fair value should be $18 dollars? What happened to the "Only costs $5 dollars to dig out of the ground"???? Inflation is a motherfucker!!!

Thu, 04/25/2013 - 14:52 | 3499047 Bay of Pigs
Bay of Pigs's picture

That was the PM troll Math Man, not MDB.

Thu, 04/25/2013 - 15:01 | 3499092 SemperFord
SemperFord's picture

Thought that was Robotrader which was MDB's previous screen name?

Thu, 04/25/2013 - 15:15 | 3499166 nope-1004
nope-1004's picture

When it was $44, Meth Head said fair value was in the low 20's.  Now it's there and going up, but fair value is lowered?  LOL.

 

Thu, 04/25/2013 - 20:55 | 3500642 Jack Napier
Jack Napier's picture

World domination! Now that one is funny. Wealth is measured in ounces, not dollars. Price only matters insomuch as what I have to pay to get my hands on real money.

If cost of production is fair value then the price of silver is about right in the low-mid 20's.

If mining output determines fair value then silver should be 15% of the price of gold.

If available bullion on the open market determines fair value then silver should be over 500% of the price of gold.

If money supply determines fair value then gold should be over $8,000 per oz.

Thu, 04/25/2013 - 22:43 | 3500997 hoos bin pharteen
hoos bin pharteen's picture

It gets even funnier: on talk radio today I heard a commercial pushing the next big precious metal: TUNGSTEN!

http://www.tungstennow.com/

At first I thought it was a joke, but sadly, it wasn't.

Thu, 04/25/2013 - 15:15 | 3499170 Ahmeexnal
Ahmeexnal's picture

Pascua Lama gold and silver mine permanently suspended:
http://silverdoctors.com/some-seriously-bullish-news-for-gold-silver/

Thu, 04/25/2013 - 15:01 | 3499093 Temporis
Temporis's picture

I miss that worthless prick Math Man...

"It only cost $5 to dig it out of the ground" - Math Man

Thu, 04/25/2013 - 15:17 | 3499179 Ahmeexnal
Ahmeexnal's picture

MethMan is a fool.
He was on foodstamps, yet he bragged about driving a Ferrari.

Thu, 04/25/2013 - 15:02 | 3499086 Gringo Viejo
Gringo Viejo's picture

@ SemperFord

Silver is imho a much more valuable commodity than gold and it's been imperative to the PTB to squelch the price. They have done so successfully for over 30 years. However, thanks to the internet, the cat's out of the bag and people are accumulating it hand over fist. I think silver will far out perform gold on a percentage basis going forward.

Thu, 04/25/2013 - 15:15 | 3499172 DosZap
DosZap's picture

 I think silver will far out perform gold on a percentage basis going forward.

Likely so, but to really capitalize on it, you have to have a shitload of phyzz.Otherwise the percentage of profit wont matter.

Fri, 04/26/2013 - 20:01 | 3504366 MeelionDollerBogus
MeelionDollerBogus's picture

Depends on if you want paper profits or ounces. Or purchasing power. % fiat terms means paper profits to me but we’ll see.

Thu, 04/25/2013 - 14:41 | 3498985 malikai
malikai's picture

"Facebook is the AAPL" - MDB

Gold and silver:

http://blog.quantsig.net/2013/04/25/gold-silver-4/

Thu, 04/25/2013 - 14:52 | 3499048 Deo vindice
Deo vindice's picture

"Lest we forget" - it's still a manipulated market.

I am no more ecstatic over today's price increase than I was depressed over the price slam of the past week.

Thu, 04/25/2013 - 16:35 | 3499505 Troll Magnet
Troll Magnet's picture

Exactly.  Just got an email from Gainesville offering unlimited amount of 2013 ASEs for $4.55 over spot.  Granted, $4.55 over spot for silver is a bit high for my taste at these price levels but there's plenty of physical silver to be had.  Silver may go up.  It may go down.  Just don't get too high, don't get too low.  Stick to your guns and do what's best for you and your family.   

Thu, 04/25/2013 - 16:44 | 3499546 Bay of Pigs
Bay of Pigs's picture

Tulving now has some ASE monster boxes in stock (first time weeks/months), and he wants $4.99 per oz over spot.

Never seen that before. 

Thu, 04/25/2013 - 17:02 | 3499580 akak
akak's picture

You know, I will never understand the obsession that so many physical silver buyers have with so-called "legal tender bullion coins" issued by their OWN much-hated government, and at much higher premiums to boot.

Being generally if not almost universally anti-government, shouldn't physical PM buyers SPURN government-issued bullion, instead of hypocritically flocking to it in preference to privately-minted similar issues?

What does the fictional governmental sanction of legal tender status matter to a bullion coin, anyway, as NOBODY is ever going to spend one as currency?

Thu, 04/25/2013 - 17:39 | 3499799 sessinpo
sessinpo's picture

That is a great post, the type I love to see. A post that asks questions.

Here is my answer:

The reason one buys physical from the government is the "supposed" quality of the coins. We have seen posts on gold bars containing tungsten. At this time, coins from the US Mint have not been questioned in their quality of content. And that is the important part. Quiite frankly, if I am buy American Eagles, I don't care what year they are because the year doesn't matter. It would matter if a very limited quantity was created, but that is not the case. So what I am after is the content, the purity of the coin in either silver or gold. Until we see a story where a coin is filled with material other then gold or silver, the perceived safety of buying precious metals in certain forms is good.

 

In addition to the spurning the government issued bullion, the reason for buying it is to "attempt" to preserve wealth from a government that is mismanaging its money, either fiscally or monetarily.

 

Your last question is a very good one: "What does the fictional governmental sanction of legal tender status matter to a bullion coin, anyway, as NOBODY is ever going to spend one as currency?"

 

This is why I advocate only having a portion of your savings in PMs and not overloading. Having some PMs is a great way to protect yourself in the event of a total currency collapse. But eventually, whatever government is still left after a collapse, will institute new policies and possibly a new currency. That is why I don't overload but do advocate having some PMs.

 

 

Thu, 04/25/2013 - 17:45 | 3499827 de3de8
de3de8's picture

For me it's retribution

Thu, 04/25/2013 - 18:27 | 3500009 malikai
malikai's picture

It might matter, should the benevolent government decide to remonetize said instruments at face value some day.

..Just prior to taking and revaluing it, because it is only fair.

But of course they would never do something like that.

Thu, 04/25/2013 - 15:11 | 3499115 Ag Tex
Ag Tex's picture

There's very little physical silver delivery left to be found if any. Unequal weights and unbalanced scales are an abomination to The Lord

Thu, 04/25/2013 - 15:15 | 3499167 Deo vindice
Deo vindice's picture

That means God hates fiat currency (which He does).

Thu, 04/25/2013 - 15:24 | 3499219 Squiddly Diddly
Squiddly Diddly's picture

Fiat currency is the modern version of the Tower of Babel.

Thu, 04/25/2013 - 16:34 | 3499511 Troll Magnet
Troll Magnet's picture

AgTex,

go to gainesvillecoins.com.  You can buy UNLIMITED amount of silver eagles for $4.55 over spot.  Silver shortage my ass.

Thu, 04/25/2013 - 16:46 | 3499543 tbd108
tbd108's picture

Perhaps as you suggest, for the right price, there is no shortage of almost anything (although in the Weimar Republic food could not be bought) for any price. As far as the business about silver eagles being available in any quantity, it would be interesting to know when they plan on delivering the metal since shops all over the world are putting customers desire for delivery weeks out.

Thu, 04/25/2013 - 16:50 | 3499591 thewhitelion
thewhitelion's picture

"Please allow an estimated 13 - 15 business days to ship"

Seems a little "short" to me.

Thu, 04/25/2013 - 18:21 | 3499979 Ag Tex
Thu, 04/25/2013 - 17:45 | 3499832 Conax
Conax's picture

"You are to pay them in silver for the food you eat and the water you drink." ~ Deuteronomy  2:6

Annnnd,

"By your wisdom and understanding you have gained wealth for yourself and amassed
 gold and silver in your treasuries." ~ Ezekiel   28:4

Here it is from the Grand Poobah of Crooked Crony Capitalism himself-

"Gold and silver are money. Everything else is credit." ~ John Pierpont Morgan

 

Thu, 04/25/2013 - 18:22 | 3499999 Ag Tex
Ag Tex's picture

Gold and silver have a 6,000 year history as being money.  We are all created with this in our DNA.

Fri, 04/26/2013 - 10:14 | 3502192 Farley
Farley's picture

Let me correct Morgan,

"Physical" gold and silver are money. Everything else is credit.

 

there fixt it

Thu, 04/25/2013 - 15:29 | 3499231 mayhem_korner
mayhem_korner's picture

before it's innevitable plunge to fair value at $18 an ounce.

 

The value of silver doesn't change much, just the purchasing power of the bux.  What $18 bought 10 years ago will pretty soon require $90.

Thu, 04/25/2013 - 16:54 | 3499611 Golden_Rule
Golden_Rule's picture

The problem with that theory is the value of silver and gold has changed a lot.  Relative to wages, relative to assets, relative to currencies.  If gold and silver are not in a bubble, then the market is not accurately pricing anything else.

Fri, 04/26/2013 - 20:02 | 3504367 MeelionDollerBogus
MeelionDollerBogus's picture

The market is not accurately pricing anything else. That’s right. That will change shortly and it will be calamity including the price of currency and trade.

Relative to wages gold has more than doubled the work-hours required to get it in 100 years. That’s not good for those seeking to stack, only for those already holding.

Thu, 04/25/2013 - 15:55 | 3499348 tbd108
tbd108's picture

Dear MillionDollarBonusBoobus:

The idea that the "fair value" of silver is static shows, to paraphrase General Patton, that "you don't know anything more about bullion values than you do about fornication." With all the speculation. manipulation, and natural movements of the marketplace, the bottom line is and will continue to be that silver (and gold) is money and not the fiat linen that the banksters from London and New York want you to believe it is. People in India and China and many other parts of the world know this. Boobus Americanus has had too much TV and bad food and have forgotten although there are signs they are waking up. The linear relationship over time with money printing establishes this for a fact even though the permutations of the market make it not evident to blind donkeys like yourself. Go back to watching TV LAND reruns and spare the rest of us your silliness.

Thu, 04/25/2013 - 16:22 | 3499470 BeetleBailey
BeetleBailey's picture

Fuck off dickbag

Thu, 04/25/2013 - 16:33 | 3499506 Blano
Blano's picture

How does that compare to the fair value of your Herbalife distributorship?

Thu, 04/25/2013 - 17:04 | 3499650 dropdeadfed
dropdeadfed's picture

I'll continue to exit fiat and pump my physical.  See you on the other side....

Thu, 04/25/2013 - 17:13 | 3499679 jrpuffnstuff
jrpuffnstuff's picture

MDB you are the only reason I even look at comments on Zero Hedge anymore.  You da best bitch!

Fri, 04/26/2013 - 19:58 | 3504362 MeelionDollerBogus
MeelionDollerBogus's picture

Fair value is already far above the listed spot price for any delivery, so what, you mean spot at 18, physical at 28 ?

Thu, 04/25/2013 - 14:40 | 3498967 DoChenRollingBearing
DoChenRollingBearing's picture

Bitchez!

Now, will my LCS have any gold for sale for me today...?

Thu, 04/25/2013 - 14:44 | 3498995 Silver Bug
Silver Bug's picture

The shorts are being caught with their pants down. Physical is running out. The price of gold and silver are going much much higher.

 

http://sprottmoneyblog.com/

Thu, 04/25/2013 - 14:57 | 3499063 RockRiver
RockRiver's picture

Maybe...one day does not a market make

Thu, 04/25/2013 - 15:31 | 3499238 mayhem_korner
mayhem_korner's picture

 

 

Agreed.  This is just a bounce back from the manipulated lows.  Nothing near breakout range (which may never show up in paper, anyway). 

I stopped measuring gold and silver in USD/oz a while ago.  I go by weight now.

Thu, 04/25/2013 - 14:57 | 3499060 slaughterer
slaughterer's picture

The move up in PMs is paradoxical considering the GS confirmation (since they puppet master Mario) of an ECB rate cut next Thursday.  (Very Bearish for $USD denomimated PM paper prices).

I would say next Wednesday morning is the time to re-set the silver shorts (probably at $25.50 by then).

That is the short-term slaughterer strategy.  Refer to it by the acronym SSS from now.  

 

Thu, 04/25/2013 - 15:07 | 3499119 fonzannoon
fonzannoon's picture

But by next wednesday the comex will have defaul......sigh....nevermind.

Thu, 04/25/2013 - 19:34 | 3500303 HardAssets
HardAssets's picture

       BOUGHT DURING THE RECENT B.S. PAPER TAKEDOWN

       DIDNT BUY DURING THE TAKE DOWN

Thu, 04/25/2013 - 14:28 | 3498910 williambanzai7
williambanzai7's picture

SILVER MOONS

Thu, 04/25/2013 - 14:31 | 3498926 newworldorder
newworldorder's picture

Love your art and your active imagination.

Thu, 04/25/2013 - 14:41 | 3498976 bigdumbnugly
bigdumbnugly's picture

kardashianesque

Thu, 04/25/2013 - 14:59 | 3499084 Ahmeexnal
Ahmeexnal's picture

Boris Vallejo?

Thu, 04/25/2013 - 15:07 | 3499118 Bendromeda Strain
Bendromeda Strain's picture

Frank Frazetta - think Molly Hatchet or Tarzan

Thu, 04/25/2013 - 15:17 | 3499189 nope-1004
nope-1004's picture

Blythe's big ass?

 

Thu, 04/25/2013 - 15:52 | 3499337 MonsterBox
MonsterBox's picture

Princess of Mars, or from one of ERB's later books?

Thu, 04/25/2013 - 15:58 | 3499366 francis_sawyer
francis_sawyer's picture

Flirtin' with disaster bitchez...

Thu, 04/25/2013 - 16:13 | 3499429 Frank N. Beans
Frank N. Beans's picture

frank frazetta was the greatest illustrator of strong, barbarian, women

He did a lot of Conan work too

Thu, 04/25/2013 - 23:49 | 3501216 Conax
Conax's picture

She's been very naughty, I feel compelled to give her a good spanking.  It's for her own good, just look at dat ass.

Thu, 04/25/2013 - 16:47 | 3499569 Blano
Blano's picture

I'd say 1/2 kardashianesque

Thu, 04/25/2013 - 14:46 | 3499004 Harbanger
Harbanger's picture

I can see the origin of the heart symbol.

Thu, 04/25/2013 - 14:33 | 3498930 ultimate warrior
ultimate warrior's picture

I see a Krugman in the shadows staring creepily at the young woman. 

Thu, 04/25/2013 - 14:41 | 3498972 smlbizman
smlbizman's picture

and hes limp.....

Thu, 04/25/2013 - 14:41 | 3498975 debtor of last ...
debtor of last resort's picture

Before he gets to her, the moon will fall on him.

Thu, 04/25/2013 - 15:09 | 3499125 Bendromeda Strain
Bendromeda Strain's picture

the precioussss....

Thu, 04/25/2013 - 14:54 | 3499050 Canadian Dirtlump
Canadian Dirtlump's picture

both of Krugman's wives have been named robin ( his middle name ) I therefore pray that the rubenesque glass of water in that picture is not.

Thu, 04/25/2013 - 14:37 | 3498951 MxBonanza
MxBonanza's picture

Your $100 bill is also on Lew Rockwell's site

http://www.lewrockwell.com/blog/lewrw/archives/136634.html?utm_medium=tw...

I love your posts WB7

Thu, 04/25/2013 - 14:38 | 3498955 ziggy59
ziggy59's picture

I see 2 moons!

Thu, 04/25/2013 - 14:42 | 3498981 IridiumRebel
IridiumRebel's picture

Nice ass.

Thu, 04/25/2013 - 14:47 | 3498997 Kirk2NCC1701
Kirk2NCC1701's picture

She looks familiar.  So does the setting.  Something Virgo star cluster-ish about it.  Kirk out.

Thu, 04/25/2013 - 14:49 | 3499023 Canadian Dirtlump
Canadian Dirtlump's picture

Mr Banzai sir. I'm interested in trying that hat on.

 

In other news, I find myself looking over my shoulder nervously like a battered woman waiting for the shoe to drop.. It's just too quiet! EIther way, awesome day, and it is pathetic we're only recapturing 24 but at least I'm not considering suicide by actually eating my stack anymore.

Thu, 04/25/2013 - 14:49 | 3499026 pupton
pupton's picture

Hmmm....Which one to grab first???

Thu, 04/25/2013 - 14:51 | 3499039 Seasmoke
Seasmoke's picture

she could stand to lose 15 lbs

Thu, 04/25/2013 - 16:04 | 3499087 Canadian Dirtlump
Canadian Dirtlump's picture

I have a work out regimen in mind for her LOL!

 

to clarify to the one negative nutwhistle. I'm saying I would be happy to take my silver shorts off and shake and bake with that fair lady

Thu, 04/25/2013 - 14:53 | 3499055 WhiteNight123129
WhiteNight123129's picture

Do I see Silver moon?

Thu, 04/25/2013 - 14:58 | 3499066 slaughterer
slaughterer's picture

She is just a little too chunky for me under the waistline, but I like that she runs around the jungle naked and stares at gigantic silver coin moons.  

Thu, 04/25/2013 - 15:06 | 3499107 ParkAveFlasher
ParkAveFlasher's picture

They toss it, and leave it, and I pull up quick to retrieve it.

-Sir Mix-A-Lot

Thu, 04/25/2013 - 15:24 | 3499214 DosZap
DosZap's picture

She is just a little too chunky for me under the waistline, but I like that she runs around the jungle naked and stares at gigantic silver coin moons.

HEY!!!!!!!!!!!.........look at the brightside, William COULD have done K Kardoucheans ass,now that would have totally ruined my day.

Thu, 04/25/2013 - 15:22 | 3499206 OutLookingIn
OutLookingIn's picture

WB7 Outstanding!

Thu, 04/25/2013 - 15:36 | 3499246 Bansters-in-my-...
Bansters-in-my- feces's picture

William....

 Nothing says like Lip purdy dee  like purdy dee lips....

Reall purdy lips....

Prrrrrr.

Thu, 04/25/2013 - 16:34 | 3499515 PacOps
PacOps's picture

Full Moon?

Thu, 04/25/2013 - 19:27 | 3500273 gnomon
gnomon's picture

Let's have a side view of that with her vigourously riding that Eagle, cowgirl style, waving her cowboy hat over her head, spurring Lady Liberty in the boobs while hers point to the heavens.

And spice it up with a little Maxfield Parrish cerulean blue.

 

Thu, 04/25/2013 - 19:36 | 3500312 HardAssets
HardAssets's picture

Come on now !  Someone actually down arrowed a naked young woman and silver ?  Whats wrong with them ?

Thu, 04/25/2013 - 14:29 | 3498912 JPM Hater001
JPM Hater001's picture

Talk to me when it's 50.  Then I'll celebrate.

Thu, 04/25/2013 - 14:31 | 3498919 colin
colin's picture

u mean 500, 50 is peanuts

Thu, 04/25/2013 - 14:42 | 3498988 Confused
Confused's picture

I'm not against it hitting $500. But if it does, me thinks we will have bigger problems.

Thu, 04/25/2013 - 19:17 | 3500235 Max Hunter
Max Hunter's picture

Don't care.  I will be cashed out and well prepared by 125..

Thu, 04/25/2013 - 14:29 | 3498915 kliguy38
kliguy38's picture

Its only foreplay before the fireworks start......the collapse of this ponzi will be an explosive move in these metals..especially silver

Thu, 04/25/2013 - 14:38 | 3498956 JPM Hater001
JPM Hater001's picture

Um, yeah.  Been hearing that for years.  Anyone else remember the who bear co-tango backwardation?  How about the big moves of January?

Thu, 04/25/2013 - 14:41 | 3498970 disabledvet
disabledvet's picture

"don't be so impressed with this technological terror you've created." I think the word is "retracement." by all means "surf the silver" just like they do in Chicago of course.

Thu, 04/25/2013 - 14:30 | 3498917 colin
colin's picture

1.10$ move up is the best day in 15 months. nothing to get excited about really.

Thu, 04/25/2013 - 16:19 | 3499451 Ms. Erable
Ms. Erable's picture

Just means Blythe left the monkeyhammer in her other purse this morning.

Thu, 04/25/2013 - 14:32 | 3498920 fonzannoon
fonzannoon's picture

this move up sucks. enough with this fibandfatchy moves. This just resumes faith in paper. Garbage.

They are back to saying these two kids were coming to NYC to bomb it. First it was to attack. then it was to party in nyc. now back to attack. these guys can't get their story straight.

Thu, 04/25/2013 - 14:34 | 3498940 ParkAveFlasher
ParkAveFlasher's picture

The Krazy Korean Kid strawman was more fun to follow.

Was it ever resolved how the younger one shot himself in the face without a gun?

Thu, 04/25/2013 - 14:42 | 3498961 Dr. Engali
Dr. Engali's picture

At this point in time even my 72 year old Faux news watching mother-in-law thinks the Feds are full of shit. The only people who believe any of this story are the hard core lib douchbags.

Thu, 04/25/2013 - 15:03 | 3499095 Peter Pan
Peter Pan's picture

The Fed IS full of shit. Just take a look at its balance sheet.

Thu, 04/25/2013 - 14:31 | 3498925 Charles Nelson ...
Charles Nelson Reilly's picture

the fuckin idiots running things realized their plan ended up being a big steamy Chuck Berry shit right on their own faces.  Now they have to cover and bring the price back up to where it's not noticably low and Chinese people aren't wrapped around the block buying coins.

Thu, 04/25/2013 - 14:33 | 3498927 Peter Pan
Peter Pan's picture

The recent slide has been very amusing. After all, a $1 dollar note weighs 1 gram or $31 per oz of bank notes. So we are supposed to believe that an ounce of silver is worth less than an ounce of paper?

Are we all that stupid?

Please don't answer........I already know the answer.

Thu, 04/25/2013 - 14:32 | 3498929 Keyser-Soze
Keyser-Soze's picture

Let's keep falling for a while. Buy Low!!

Thu, 04/25/2013 - 14:32 | 3498932 cool21
cool21's picture

Time to drop some short thingies on the market....

Thu, 04/25/2013 - 19:44 | 3500341 HardAssets
HardAssets's picture

Damned right !  Wish theyd try that little game again so I can buy more phys like last time. Christmas in the Spring.

Thu, 04/25/2013 - 14:33 | 3498938 fonzannoon
fonzannoon's picture

anyone checking prices online? is there magically inventory again?

Thu, 04/25/2013 - 14:34 | 3498939 Quinvarius
Quinvarius's picture

You can feel the Eye of Sauron's gaze now.

Fri, 04/26/2013 - 19:59 | 3504357 MeelionDollerBogus
MeelionDollerBogus's picture

You don't say!

http://flic.kr/p/eaNjzX

Thu, 04/25/2013 - 14:36 | 3498948 cool21
cool21's picture

Open interest rising and rising bitchez!!!

Thu, 04/25/2013 - 14:37 | 3498950 Ludwig Van
Ludwig Van's picture

Dog gone it! Every time ZH posts good news about silver kills the rally.

Every time.

Like to be wrong this time.

.

Thu, 04/25/2013 - 14:45 | 3498990 Quinvarius
Quinvarius's picture

Sauron is considering his move.  I watched the chart go flat and the action close up.  I looked around for news.  LOL.

Thu, 04/25/2013 - 14:36 | 3498953 alien-IQ
alien-IQ's picture

I don't quite trust this move up. Especially with the overall market as toppy as it is in the face of so much data that suggests it should be moving in the other direction.

I'm sitting out this little rally in gold and silver. There is more downside to come in my opinion. Better prices to be had down the road...but will we be able to actually buy PHYSICAL gold and silver at those lower prices is another story all together.

Thu, 04/25/2013 - 14:49 | 3499020 Urban Redneck
Urban Redneck's picture

The de-leveraging must occur one way or the other, and think the other is their Plan B, not Plan A.

Thu, 04/25/2013 - 14:38 | 3498954 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

In order to replenish the vaults they need to slam the prices up hoping everyone who bought at bargain will sell for a profit so they can hoover it up then now since plan A didn't work. Also keep paper from selling off. Manipulated or not they have to let the paper markets correct upwards or else the whole paper market gets busted when spot price is mirroring industrial production price.

 

My personal take anyways, same should hold true for gold. The stackers probably won't budge but the weaker speculative hands probably will.

Thu, 04/25/2013 - 14:42 | 3498980 Manipuflation
Manipuflation's picture

"The stackers probably won't budge".

 

Correct.  Not going anywhere and want MOAR.

Thu, 04/25/2013 - 15:15 | 3499158 Herd Redirectio...
Herd Redirection Committee's picture

I don't think people realize how manipulation works.  You can suppress FOR A PERIOD of time.  Its not something that can go on indefinitely, even if you have a magic printing press.   If you continue trying to suppress then you just end up giving money away.   I think they tried to scare people out with the sudden drop, now they will cover some short positions, and get long, on the individual level, if not the institutional level.  

Maybe that will be the plan on some level, to let a TBTF bank continue shorting gold and silver, and when they finally break the balance sheet or the market or both then leave the American people on the hook again. 

Surely there must be examples of Organized Crime doing this, its basically a semi-sophisticated 'Bust out' operation.

Thu, 04/25/2013 - 20:14 | 3500509 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Looks like the gold market is going to get busted first at this rate, either way anyone sitting on physical is going to be a winner once the paper markets are proven to be fraudlent and spread out too thin on claims per ounce in the vaults.

Thu, 04/25/2013 - 14:37 | 3498957 cool21
cool21's picture

Magic inventory of silver is not depleted yet in the Netherlands, but you have to wait up to 30 days for dilevery for silver coins...

 

Thu, 04/25/2013 - 14:50 | 3499030 blabam
blabam's picture

Why buy in the Netherlands when you can buy from Germany with less VAT? 

Thu, 04/25/2013 - 15:12 | 3499148 Ahmeexnal
Ahmeexnal's picture

Because anyone who buys gold and silver in Germany gets a number tatooed into their arms.

Thu, 04/25/2013 - 19:24 | 3500260 Max Hunter
Max Hunter's picture

I heard the rich Palestinians are buying up all the gold and silver to store in their nice homes they build illegally on Jewish land..  Poor Jews.. ever the victim..  Ever the reminder.. Every day.. in every way..

Thu, 04/25/2013 - 16:29 | 3499495 Papasmurf
Papasmurf's picture

Magic inventory of silver is not depleted yet in the Netherlands, but you have to wait up to 30 days for dilevery for silver coins...

If you have to wait, by definition that is depleted.

Thu, 04/25/2013 - 14:39 | 3498959 Manipuflation
Manipuflation's picture

My going back and getting a shitload of silver dimes is looking better and better all of a sudden.

Thu, 04/25/2013 - 15:10 | 3499143 DosZap
DosZap's picture

My going back and getting a shitload of silver dimes is looking better and better all of a sudden.

Do yourself a fovor and ask them to weight the bag, and do the math.

Most of the dimes I have seen are mercury, wafer thin, and I feel not a sound bargain.

Thu, 04/25/2013 - 14:40 | 3498964 Lord Koos
Lord Koos's picture

It's got a ways to go...

Thu, 04/25/2013 - 14:40 | 3498965 MxBonanza
MxBonanza's picture

Be careful tomorrow, bank official hollidays in China for Monday, Tuesday and Wednesday!

Perfect time for another engineered waterfall operation and psycological smack down for precious metals.

Thu, 04/25/2013 - 14:58 | 3499073 Manipuflation
Manipuflation's picture

Yep, could be a trap MX.  I really do not think copper's six month charts are bullish and durable goods orders are down which usually means we are going into the shitter again.  But fuck it, as long as the crock market is going up, up, and up we might as well add to the phyzz positions if we can.  Who cares anymore anyway?  We all know how this will end anyway.  Stack up.

 

I am doing the power of attorney paperwork today for Mrs. M but then I realized that she really won't need it for too much because there is not that much left in paper assets on my behalf.  I did take a moment to explain to her that it is only power of attorney and not power of vagina as the two could easily be confused.

Thu, 04/25/2013 - 14:40 | 3498974 Major Major Major
Major Major Major's picture

So the Indians finally catch the lone ranger and tell him he has 3 days before they kill him. The Indian chief says 'lone ranger, you have 3 days until your death, what is it you want.' The lone ranger looks at the chief and says, 'well, I want to talk to Silver, my horse. The chief brings the horse around, the lone ranger whispers in Silver's ear and Silver takes off. Silver comes running back with a naked blonde girl. The blonde stays the night with the lone ranger. In the morning, the chief says he is very impressed but the lone ranger only has two days remaining. The lone ranger says, 'well, I'd like to speak to Silver again.' Chief brings Silver around, the lone ranger whispers something in his ear and Silver takes off! This time, Silver brings back a naked brunette. The brunette stays the night and in the morning, the chief is very impressed and approaches the lone ranger. 'You have one more day. What is it you want?' 'Bring Silver around', says the lone ranger. When the horse gets there, the lone ranger pulls the horse's head eye-to-eye with his, grabs him by the ears and says, 'Silver, bring the POSSE!!'

Thu, 04/25/2013 - 14:43 | 3498992 The Abstraction...
The Abstraction of Justice's picture

Ah a play on words, posse, to rhyme with pussy, as the horse mistook the word posse, for pussy, thus delivering the Lone Ranger with an attractive woman, rather than an assembly of cowboys. 

Thu, 04/25/2013 - 14:49 | 3499019 ParkAveFlasher
ParkAveFlasher's picture

Poor Silver, probably hearing-impaired from all the gotdam shooting from the saddle.  Call PUD, that joke was EEEEEVILLLLL.

Thu, 04/25/2013 - 14:59 | 3499083 Peter Pan
Peter Pan's picture

The original version of the joke which is over 35 years old, is that the lone ranger whispered something to Tonto while he is buried neck deep in sand. Tonto thrn rides off furiously.Just before sunset Tonto turns up with a really fat Mexican woman who proceeds to lift her skirt and rub her private parts all over the Lone Range's face.

The Lone Ranger then screams out to Tonto....."you stupid Indian, I told you to bring the biggest f...n posse not pussy."

Thu, 04/25/2013 - 14:41 | 3498978 The Abstraction...
The Abstraction of Justice's picture

Bitcoin made us some nice money (if you bought below €100 a coin), but now is the time to sell up and buy silver again.

Thu, 04/25/2013 - 14:53 | 3499045 francis_sawyer
francis_sawyer's picture

Like I said all along...

~~~

You bitcoiners quickly jettisoned the "alternate, indestructable currency", stick it to the man, meme & became 2 bit hack joobuck value daytraders within about 5 seconds flat...

You people are a joke...

Thu, 04/25/2013 - 15:16 | 3499169 Manipuflation
Manipuflation's picture

F_S, remember what I was buying when the BTC shit was coming to a boil a few weeks back?  It's not my first date with silver.  AND I have possession of it.:-)  I have to agree with your analysis of the BTC trade. 

Did you get a new(er) sloop yet?  I think I need to get a newer one too as it getting to be about time to go have another boating accident.

Thu, 04/25/2013 - 15:42 | 3499293 francis_sawyer
francis_sawyer's picture

Oddly enough ~ I'm not so much against the 'concept' of bitcoin as I am about the incredible naivete' of its sychophants...

~~~

Umm...

- Anonymous inventor [who nobody has heard from in two years]

- Promises, Promises, Promises... Will CAP production [I won't cum on your face hunny]

- Winkledweebs own 1% of entire market??? WTF is up with that?

- Zero knowledge of how someone may manipulate this market [oh, but we've seen that's not possible, right?]...

But MOSTLY... What makes me laugh are the sychophants themselves... Balsa wood justification upon balsa wood justification for STORING the sweat of your labor in a digital wallet... To make it simple ~ the only people who would ever think of doing something like that are people who have never really done much sweating in real life...

& now, they're all just joobuck daytraders [LOGGING IN DAILY TO SEE HOW MUCH THEIR TRADING ACCOUNTS ARE WORTH]...

Get a life...

Fri, 04/26/2013 - 05:50 | 3501515 The Abstraction...
The Abstraction of Justice's picture

'they're all just joobuck daytraders'

So next you will want to confiscate our silver, because it is joobuck daytrader investment? Jews know that the resentful will sell out, just a matter of playing them well enough.

 

So I sold a few bitcoins and made a few hundred euro profit. How does that put me in the league of slum landlords and banksters?

Fri, 04/26/2013 - 05:46 | 3501513 The Abstraction...
The Abstraction of Justice's picture

I never said it was indestructible. 

Thu, 04/25/2013 - 14:44 | 3498993 fonzannoon
fonzannoon's picture

if silver drops to $22 and no one sells it, and we all but it at $28 plus. then it corrects to $25 and no exchanges blow up and defaults happen, did we just get skanked?

Fri, 04/26/2013 - 20:02 | 3504369 MeelionDollerBogus
MeelionDollerBogus's picture

no, we all just set the real price to sell at 28 not 25, which I’m sure you’ll see with spot at 25 will show real physical at 28 or higher.

Thu, 04/25/2013 - 14:45 | 3498999 sixbilliondollarman
sixbilliondollarman's picture

Even though premiums were 6-7$ over spot [paper] prices to buy physical [Your FIRST CLUE THIS ENGINEERED DROP WAS A SCAM] I won't complain about a nice discount [IN THE REAL WORLD].

Who the fuck would believe a [spot or] Futures price is legitimate anyways?

 

Thanks to John Corzine...there IS NO financial integrity of the Futures markets nor will there be ever again...which then & now begs the question:

"If there is a 6- 7$ price gap between Spot & Futures [paper] to [Reality] Physical dealer's offers on Silver lately,,,PL*US the permanent removal of financial integrity of the Futures market thanks to CORZINE THEFT & [PFG FCM theft]...then do we assume Futures price discovery is still "LEGITIMATE"?

Sure the futures price discovery is Legit! Just try to buy some physical on the streets of the US & tell them "you demand a futures price or a "London Fix". They will first laugh & then "fix their foot up your ass as they toss you out the door" if you won't leave without paying the [fair] & real legit price.

The SHITHOLE PAPERMARKETS keep getting deeper & deeper.

This time though the fuckers at the top are realizing shaking the paper rug doesn't affect real physical so much any longer.

 

back the truck up!

http://www.youtube.com/watch?v=ByT0FErPgfQ

 

 

Thu, 04/25/2013 - 14:56 | 3499061 Quinvarius
Quinvarius's picture

Sucks when you figure out the rabbit hole you are going down is really your own ass.  It is like the deeper you dig, the more you get fkd.

Thu, 04/25/2013 - 15:16 | 3499168 Bastiat
Bastiat's picture

Profound.

Thu, 04/25/2013 - 14:52 | 3499036 Kirk2NCC1701
Kirk2NCC1701's picture

Don't get yer knickers in a twist!  It's just channel surfing between Max-Min limits that TPTB have set:  Can't have it get too low or it starts a bullion run, and you can't let it get too high or it creates a different problem.  In either case -- too low or too high -- it causes a 'confidence' problem with fiat FRN's.  Hedge or speculate accordingly.

Thu, 04/25/2013 - 14:53 | 3499052 No Euros please...
No Euros please we're British's picture

Plenty more paper where that came from, not so much of the real stuff. So come on bansksters show us how big your balls are now.

Thu, 04/25/2013 - 14:59 | 3499081 KingdomKum
KingdomKum's picture

we few,   we happy few,  we band of silver holders  . . .

Thu, 04/25/2013 - 15:00 | 3499082 FreeNewEnergy
FreeNewEnergy's picture

Silver price doesn't matter until it gets to 29-30 range because that's where it's been selling, on ebay and in coin shops, via the premium, which has been somewhere right around 18-25% depending on how lucky you are.

This move up will hurt some shorts, I CAN ONLY HOPE. When it passes 30, things will get interesting.

If I was the Silver Cramer, I'd be yelling, BUY, BUY, BUY!

Thu, 04/25/2013 - 15:20 | 3499198 DosZap
DosZap's picture

Silver price doesn't matter until it gets to 29-30 range because that's where it's been selling, on ebay and in coin shops, via the premium, which has been somewhere right around 18-25% depending on how lucky you are.

I paid 5% last week, anyone dumb enough to pay those prems needs to think about it HARD.

Thu, 04/25/2013 - 15:01 | 3499089 sosoome
sosoome's picture

I don't know much about this stuff, but could this not be a dead cat bounce caused by panicking shorts?

Thu, 04/25/2013 - 15:02 | 3499096 q99x2
q99x2's picture

Rich man's Gold Eagles As low as $74.99 per coin over spot!

1 - 9 $1,552.69
Thu, 04/25/2013 - 15:13 | 3499153 DosZap
DosZap's picture

Rich man's Gold Eagles As low as $74.99 per coin over spot!

1 - 9 $1,552.69

 

Looks like a possible APMEX rape?.

Thu, 04/25/2013 - 15:03 | 3499099 jvetter713
jvetter713's picture

Hard to get excited even on 5% up days.  Wake me when the manipulators are finished beating it down and we start having 25% up days.

Thu, 04/25/2013 - 15:04 | 3499103 kevinearick
kevinearick's picture

Cinderella Economics on a Ship of Fools

Only within an imploding empire of fools can a Krugman be fashioned to appear intelligent and only in an ivory tower collapsing from the bottom up can he garner groupies paid to worship debt as money. And only in the relatively knee-jerk psychology of divide and conquer politics, in which each peer pressure horizon controls the one below it, with arbitrary conditions, at the behest of the one above it, can digital monetary expansion with no mooring appear to be the solution for austerity, which was caused by the same monetary expansion, to hide an inherently flawed demographic insurance ponzi.

As Mr. Market is so amply demonstrating, the only difference between employing paper gold as a lever and debasing a currency by other means is the efficiency and speed of empire collapse. Those on the leading two edges are not fooled and simply double down, forcing the empire to do the same, to accelerate capital control, collapsing itself. Gold is an effective standard bridge, but its utility is always relatively brief. The leading edge must advance to complete the circuit with the new technology, which it cannot yet see. Net, the middle class collapses, slowly at first, and then with increasing speed.

There are many event horizons within the middle class, but it shares one characteristic that all middle class patrons have shared throughout feudal History, whether it has been dressed in socialism, communism, or capitalism, and that is the desire to get something for nothing, competing to see how much property can be taken with the least possible effort, enslaving others to the resulting debt for the purpose, to preserve the ponzi status quo. And what better patsies than the unborn, of robots programmed for the purpose. Of coarse they are obsessed with automation that eliminates people, automating their own path back to the DNA churn pool.

America is a whore, inviting to the drunken debt consumer stumbling out of the bar at 2am, but revolting in the light of day upon awakening with the resulting hangover. The individual is beginning to wake up, in numbers, to see Hollywood for the whore it is, along with all the willing participants in the majority. That’s just how it goes in the end stage of the empire cycle. The Euro didn’t solve the problem, and neither will any other mongrel coming from any other marriage of failed cultures / empires.

If you design the technology that can make or break economies, why would you accept debt from a failed culture, or a mongrel of failed cultures, as payment? Whatever you do, make sure I am the last in your line of lines, so you may employ me as a nigger to wash your dishes. Funny, there are no elevators in Mendocino. All politics is local, aggregated, and the prevailing currency will come from a community built for the purpose. Pot doesn’t work; it just makes the majority dumber, better empire fools.

That is the State of the City…ComRats. I’m here; come get me when you are ready to be removed from the planet. I build bombs for Navy. That’s my function. What’s yours?

Thu, 04/25/2013 - 15:18 | 3499184 Quinvarius
Quinvarius's picture

Not sure where your middle class description fits into reality.  The middle class is the only class actually doing any meaningful work.

Thu, 04/25/2013 - 15:05 | 3499104 fijisailor
fijisailor's picture

It was a lot more fun when the price was lower.  All the Asians going nuts and even running out in other places.  Big discounts were nice.  Please smack it down again.  I'm ready and waiting.

Thu, 04/25/2013 - 15:04 | 3499106 StarTedStackin'
StarTedStackin''s picture

I think Silver will have an even better day in the weeks following the FED's Next Coordinated slamdown

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