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Silver Halted 4 Times Overnight Amid Flash Crash
While we have become used to the almost daily trading-halts in Japanese government bonds, when the CME reports that Silver trading was halted four times overnight, it is increasingly clear that this market is anything but 'normal':
- *SILVER TRADING WAS HALTED FOUR TIMES OVERNIGHT, CME GROUP SAYS
- *SILVER TRADING WAS STOPPED FOUR TIMES IN 20-SECOND HALTS
- *SILVER TRADING WAS HALTED IN `STOP-LOGIC EVENTS', CME SAYS
Yet somehow, amid all this 'extreme' volatility in 'safe' collateral assets, we still do not hear of funds blowing up (yet). While central bankers would seem to disagree, there really is no stability without volatility and the more that vol is suppressed, the more extreme the inevitable 'event'.
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"Hi-yo Silver, await-a-minute!"
If commodities traders are looking for a bull market, WTI really seems coiled like a spring right now. WTI is ready to break out to bite the POMO beast in the ass, if the Fed does not suppress it first.
4 times? Why not just lump the missing metal into one delivery instead of 4 smaller deliveries? ;)
It is all about Fed speakers this week, with POMO perfectly allocated according to Fed speaker dove/hawk bias:
Today, small POMO because we have perma-dove Evans--nothing to worry about.
Tomorrow, large POMO because we have new-hawk Bullard--wild card.
Everything climaxing with BB before the Senate, where every algo will be video-locked to every twitch and tremor in his voice.
...and beard fondle, beads of sweat, queefed flatulence, and what the shit-eating prick is wearing......
When he really needs a a stick of TNT up his money-conuring ass and a short fuse....
Those who understand counterparty risk and purchasing power count their PM holdings in gram or ounces, not fiat. Print away motherfuckers, I am standing by with dry powder and plenty of equities to sell, go ahead, drive that asset price lower, awesome.
I concur. Backing up the truck in ..3..2..1.
We wouldn't wait if we were you. Silver has pushed back over $22. Perhaps we have seen the bottom over the last few hours? If not well, at least you have it. Who knows what delivery conditions will look like in a few weeks.
Got a mouse in your pocket?
> Perhaps we have seen the bottom over the last few hours?
Bottom? Bottom of what? There's a lever that makes the price of AU/AG go up or down, depending on the whims of folks who wish to remain anonymous and secretive - and who are allowed to remain so by the supposed watchdog regulators (L0L). There is no 'bottom'. Today's price has nothing to do with tomorrow's or yesterday's - or any events or news - or anything to do with reality, for that matter. Only the whim of silent, mask-wearing criminals. Unless you have an inside source - or are clairvoyant (keep eating GMO - it may happen) - the price direction in fiat is anyone's guess.
Used to be the PPT was all the conspiratorial rage. Remembering that has a bit of sentimentality for when things were normal. Better. Like looking thru a 'LOOK' magazine from the 50's or 60's. Before the Beatles brought the revolution. They told us it would be good. They didn't say for whom.
Surely only buying was halted....feel free to sell an infinite number of paper contracts in milliseconds.
people trying to get out before the whole thing goes down like HKMEX!
http://hkmerc.com/en/Media-Centre/Press-Releases/HKMEx-Voluntarily-Surre...
Time to tune back into the Jim Sinclairs, Ranting Andy's, and the Harvey Organs of the world. They were right. CNBC was wrong. Get the Phys before the reset. The problem is not with gold and silver. The problem is with the financial system melting down, fraud, and counterparty trust.
Right on!
Indeed, treasuries are not getting a bid, hey America and CONgressional puppets, what is the interest on that debt again? CBs painted into a corner and not even buying their own crap. tick tock motherfuckers...
If I tune back into Ranting Andy I predict it will be the same rant as a year ago when I just started hitting delete without opening.
I hit doom saturation about a year ago right after hay season finished.
Doom porn is as exciting as terrorism these days.
Hong Kong Mercantile Exchange fails amid dearth of gold futures trading
http://www.scmp.com/business/banking-finance/article/1241466/hong-kong-m...
Oh, I see. I look forward to government bonds being halted for 20 seconds next time we're limit down.
Oh I forgot, that just won't happen, due to the *bargains* available in equities and bonds.
Fasten your seatbelts ladies and gentlemen we are in for a bit of turbulence....
Just keep cranking this crap out. Paper good - metal BAD!!!!
I can't afford to go hog wild, but I added last week. If they keep smacking this, I'll be in for some more this week.
Good luck finding it at these prices.
$69 over spot gold. $3.50 over spot silver. Nasty???? I don't care at this point.
[Paper] silver can move down 10% on ZERO news. Just wait till the news about fiat being worth nothing hits the wires....
Silver to ZERO! And die, silverbugs!
LOL...the only thing that's going to be at zero is the physical availability when you finally and desperately try to buy some...
The sales will continue until physical inventories improve.
the only "0" you gonna see homeboy is the 1 next to that green arrow and your avatar...
like that dude in the Dos Equis commercial says - "stay dumb my friend...stay dumb..."
I don't have my chart with me, but I don't think Silver or Gold have ever gone to 0 (throwing granny's silver out the window-- i can't wipe my ass with this sterling fork!). I do think paper has, though. To paraphrase Marke Faber...
<snicker>
Free silver for everyone! LOL!
Circut board manufacturors and solar panel companies are gonna LUV that! Tard....
Free Silver is an old battle cry in America,,
http://www.americaslibrary.gov/aa/bryan/aa_bryan_silver_1.html
No, thats Hi! Ho! Silver
You make MDB look clever and original. Some feat buddy.
please give me all your worthless PMs
Physical Silver and Gold have never and will never go to ZERO.
FRN's and Paper gold or silver however started at ZERO, and will eventually go back to ZERO.
But feel free to hold whatever you like....Tulips?
Halted ... so that nobody could buy the dip
Yup, you are not in the club.
Yup... and longs stopped out..
Plummeting price paired with insatiable physical demand. Yeah, that's functional.
What if, uh, C-A-T really spelled "dog"...? (Ogre, Revenge of the Nerds II)
"Plummeting price paired with insatiable physical demand."
Unfortunately the sheeple don't see a problem with this.
It's so nice they have "STOP-LOGIC EVENTS" when we have to endure a stop logic (make-believe) market every day!!!
just get this over with already.
need to change your ID - "becky fat and ..."
...since being a Mom, she changed. I can not explain, but she lost her physical eye catching cuteness hook. At least Buffet still digs her!
Cuteness isn't that important when it comes to handjobs.
Of course she lost her cuteness. Becoming a mother is lethal for that. I'm young enough to only want women who are not a mother.
Vault storage is the only way forward. Do you think it matters now if physical owners start taking their gold and silver out of the LBMA assurance and into private vaults?
I presonally decided to sell all my silver at 7pm last night for no reason in particular. I thought everyone else did as well?
And I sold in volume to make sure that I got the lowest price possible!
yeah, yeah, that's right....sell my metal cause THE PRICE IS CRASHING!!!
now what monkey ass mother fucker out there is dumb enough to be falling for this "bananna in the tailpipe" banker bullshit!!!!!!!!
I KNOW I AINT....cant wait til my dealer open...
this shit is funny.......
"there really is no stability without volatility and the more that vol is suppressed, the more extreme the inevitable 'event'."
yep - take away the "closed loop" of the system and it becomes an unstable open-loop system
ROFL, AEs are still selling for $7 over spot, assuming you can find any.
Texmetas.com has them. Less than 26.00
Plenty o' Sunshines left at $24.
In my world, it's not worth spending an additional $6 / oz for an AE
Eagle sales still suspended?
I don't feel like working at my job.
I'M SURE IT'LL BE OKAY WITH MY BOSS IF I DECIDE TO HALT WORKING!
They only halt it when it gets too busy.
Or like when they don't have the metal to back up the paper promises.
Definitely the signature trade pattern of a squeeze play. Just one more example demonstrating how these paper markets aren't about the underlying physical at all. They're primarily about depth of cash and credit of the weakest hands. They might as well label it a market in golf balls or hair balls as PM.
As Jesse so correctly states on his blog, these paper exchanges are nothing more than "bucket shops". Allowing the prices of key commodities to be set by bucket shops is indeed appalling.
Well now gold has retested the lows and silver has flash crashed. Non to count CNBC non-stop coverage of the precious metals dismal performance since the beginning of the year. I guess the tide is about to turn...
Paper price may well go even lower, maybe far lower, toward the true value of those paper contracts in these corrupt, financialized times. Sit tight, be right.
Raybans are Chinese made junk.
I think I'm going to go onto Apmex's site, wait for the friendly "chat" person to ping me, and then ask if they can deliver 200 monster boxes of ASEs in 10 days to three addresses.
What a fraud.... Take a huge short position and sell in a low liquidity environment to trip stops!
Nothing like price "discovery" (/s)
Hey, it's good work.
If ya can get it.
God's work according to blankfein.
Paper Gold and Paper Silver are about to find their true market value which is zero. Currently Physical Gold and Physical Silver prices have almost disconnected from the Paper discovery scam. Paper prices will slam to zero in the biggest flash crash in history when paper price discovery completely disconnects. Halting is nothing but last minute tactics to prevent that from happening.
Lets just put an end to halting and let these fraudulent markets (paper Ag, paper Au, Japanese bonds, etc)
seek their natural levels. All halting does is delay the inevitable...
What else can the 99%ers ( all over the world ) do to try and preserve what little wealth they have other than to buy some Ag/Au? In the real world they see prices rising almost every day, their homes arent worth squat and thier incomes are falling! Yea, I understand panic buying cause people are beginning to wake up and say to themselves man I am screwed if I dont do something and fast before all my money is gone!
Remember that funny word hedge...it is on this webpage somewhere...
Real assets aren't magic charms. It's just that because of corruption all paper asset classes are doomed to zero real returns over time. Real assets will be raided as well, but it's more a question of staying diversified and adjusting return expectations down. Of course that also means consumption has to go down and savings, up.
And there you have it: macro 101 says that corruption fucks economic growth due to the need for more savings.
So, fuck you banksters. And the bipartisan coalition of the treasonous supporting their evil reign.
Moral: Keep stackin'...just don't think it makes every boo-boo all better.
Totally agree except staying diversified is for the top 10% who own stock/bonds. You cant mean the 401k's of the pesantry. The only peoplee who are adjusting return expectations down are the bottom 93% who have seen their net worth drop.
Well, technically, an index fund is diversified. The peasantry is told that their 401k's are diversified. And they are, as long as stock index, bond index and cash is all there is to consider. Don't forget all the churches, county boards, fire departments etc. with their own funds to look after as well. All the same story.
My only point being, adding some real assets to the 'regular Joe' mix is a good idea despite the volatility. But the need to save more to hit investment targets overrides even that point. It's the real universal in this situation.
I am not very concerned about the top tier.
Free silver!!! Gimme some!
Bring it on assholes. We're ready and not-waiting, er, unwaiting or something. Anyway bring it!
I love Bart Chilton and Gary Gensler. Those guys rock!
/s
"the only thing that's going to be at zero is the physical availability when you finally and desperately try to buy some..." I like the idea. for Minneaplis design, please call: 612-590-8080
If you listen to all the Gold & Silver bull shit by paid market trolls. You'd think there's going to be baskets of Silver bars at your local thrift shops. When I started buying more than a couple of years ago, this drop in paper metal was fully expected. It had to happen, so get over it and see through the smoke.
And it's nearly the exact same story as 2008. Bank stability wanes, so markets are sold off in waves of margin calls.
Halted so's it would RISE too quick
silver is a cheap metal, and what i called "prone to be mocked"
keep selling, and printing, Che Bernanke....you are the true revolutionary, whether undercover or unknowingly.
Shit, my physical silver has been stop-lossed, all of the ingots in my safe have dissappeared...replaced with US dollars! Not.
No shit!
My safe actually got washed away by a 150 year storm along the upper reaches of the Choptank River during TS Ilene.
I knew I shoulda' modeled the DA with an actual % of impervious area when I scammed that FEMA LOMA.......
Anyways,
I know which hole she's lodged in due to my numerous noodlin' expeditions from my old homestead down to the Bay.....
The way this is going makes me slightly wonder if physical dealers are purposely hiking premiums and containing supply just to make us think it's all about the paper breakdown. Always thought supply would be a problem in a rising market, however, the nuance of paper vs physical has introduced and perhaps brought to fruition the reality that you can't mess with the "Old Relic" and get away with it. PM's should never have been made available to ETP's. That's the hindsight revelation. Very long physical PM's.
I paid a buck an ounce over spot for rounds yesterday from a dealer who regularly advertises here. Free insured shipping for 1st time buyers $1500 Minimum order...I'll be waiting a few weeks.
well to be fair this is a good time to stack some silver coins. price is very!!! attractive in the moment imo
Some of you are missing that this action allowed the media to pump "gold and silver are crashing" all night long. Never have they told the "Gold and Silver Rocket Higher" story but when they crash, oh, well that is good for everyone apparently.
Silver and Gold BAD, BAD, BAD! They rot your teeth and make you poor and are bad for your back, ankles and knees. They will break up families and the children are in great danger. The banksters said so.
Hyperbole. THe media did cover it when gold was skyrocketing from 800 to over a thousand per ounce. But i get what you're saying.
Considering Doomborg just scrolled, as Ag and Au are both up on the day, that silver hit three year lows and gold is bearsih according to GS. That is NOT hyperbole. And during the run up from $800 to $1000 it dropped and the MSM was reporting "bubble pops" right before it went to $1900. There has been an astounding effort at least in the past two years to trash PMs. Imagine if they had been pumped like, oh I don't know Facebook, Netflix, Apple, how high they might be.
If TPTB manage to brainwash the masses that PMs are worthless and FIAT actually does become worthless, how do we engage in economic activity? Do we just start taking shit from each other? I think we will.
That guy from Bosnia said that after their collapse you could have a woman for a can of Spam. TalkToLind has several cans of Spam ready for that big rack ChineseWomenDate.com chick.
Bizarro bullshit markets.
TOTAL. F*CKING. CHAOS.
Congratulations, Bernanke. Still can't understand why businesses don't want to "invest" in this environment?
The amount of small businesses going under where I live is going parabolic. Regular people tell me the same thing everyday, no extra $.
How do U have capitalism if no 1has any capital, which comes from excess earnings versus expenses? Who has any excess earnings?
That's why the only thing keeping the fraud going was debt.
And these were called stop logic events? Is there no end to irony's tyranny?
If it stays around $25 per once I'm having my fiat rebuilt into muscle money.
The story with the precious metals is that speculators have decided that there is no longer a profit opportunity here. Industrial and retail demand are holding up, but with the speculators exiting the market prices should remain depressed until the next cycle begins.
Full post with charts, images and links:
http://dareconomics.wordpress.com/2013/05/20/around-the-globe-05-20-2013/
Dead link, most likely void of facts to back that up
From my local coin shop: We do not have any ASE's but we hope to get some this week. Single coin = spot +$5.75 and 20 or more = spot +$5.50