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Silver Is Having Its Worst Day In 10 Weeks
Spot Silver is trading back to early July 2013 levels as it drop 4.1% - its biggest down-day since the SeptTaper debacles began. Gold is also being monkey-hammered; down 2.9% for the biggest drop in 2 months. Meanwhile, Bitcoin is on the rise...
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Damn you and damn humor!
I see at least 2 people took me seriously.
I thought with the delivery notices for December that PM's would start going back up....boy was I wrong again...I have rode this ride all the way to the bottom...I am almost ready for Obama bucks now....gonna need it I think in the future....My PM's are not helping me out
Ask yourself who would pay 2 or 3 bucks an ounce more than the current price, in a continually dropping market, to take delivery of 5000 ounces of silver they bought a month or two ago. They could roll over and recover some cash while holding a new contract for next month or further out.
This is why the beatings continue, IMHO. To get them to give it up.
Neither is the clock.
You are very much correct, just early.
What else is new? Silver gets hammered no matter what the news, some days worse than others.
This will not turn out well for anyone, buggering a market this way.
Oh, I'm sure it will turn out fine for all those Indian brides getting loaded up with it for their weddings. I doubt they even check the Comex price that often.
Looks more like a Butt Buggering to me...Just saying.
I guess we're going to find out the true cost of production.
diabolical - when will the comeuppance come? until then it's a one-way street lower
As good a day as any to load up for Christmas.
@Dr. Venkan
Buy in Jan...............for next Christmas
Santa
This is because in December many people decide how to invest for the next year, they want it to look less appealing...with their friends from Cnbc spreading the word..
Thank god for price discovery.....
silver is disgustingly cheap right now.
You may be disgusted. I'm delighted.
Been eyeing some silver onzas (Mex) for a while, I might be picking up a few now. Thanks for the buying opp you filthy manipulating mongrels.
Curretnly $19.19 as this post and giddy with excitement waiting for payday. It's the perfect time to stark stacking :D
Ben, I'm sure you can make this into the single digits. Help me out with my pre-christmas shopping.
Let's get physical? Yep!
https://www.youtube.com/watch?v=FtgWu5ysh-Y
This is like winning all your bets and not getting paid. Most @ZH have Been pretty much correct with world events of past 18 months EXCEPT for the price of Gold, where most of wound up........it has to be manipulation and they are going to test our pain threshold before it takes off.
No worries Lads and Lasses
If you think you're sick in the stomach now, just sell it all now and see how you'll be feeling by mid 2014?
The fun is just getting underway and you will all know it's only going to head back up when you see the "ungluing" that is about to take place in the ME Eastern Europe and Asia.
If you think you're stressed over the price of PMs at the moment think what the CBs must be going through keeping this charade intact!
Going through the nations money and laughing all the way.
This is just another test by TPTB to shake our faith in PMs -- and I have no doubt that the tests are going to get much tougher before we're through. If our convictions are truly rock-solid, then we should have the intestinal fortitude to look at these lower prices as nothing more than another chance to increase our stacks before the current fiat-based monetary system finally implodes on itself.
I know I do.
The same thing was being said a couple years ago when MENA blew up. Been all downhill from there.
The wife just instructed me to call her 401k provider and tell them to withdraw all her funds and cut us a check. Even knowing she is going to take a whopping 52%? Tax hit for doing so so we can buy more gold and silver. It's not a huge amount in her 401k, its from a previous employer, but her willing to pay these criminal fucks half the cash in there just to get out of the fraud and let us stack more gold and silver with the remainders reminds me why i love her. DIE YOU CRIMINAL BANKSTER FUCKS!!! CHOKE ON YOUR FUCKING PAPER AND DIE!!!
Does she have a sister?
Fine woman you have there. Congrats!
Nice thinking. Way to go. Too bad you or your wife couldn't think a little harder and transfer the money into a self-directed IRA where you could have bought physical silver and gold with ALL the money you had in the fund instead of taking a 50% haircut. But hey, to each his own.
Self directed physical IRA, sounds good. Do you get a free safe with that?
You don't actually hold it in your hand but you knew that didn't you.. Self-directed my ass..
Self directed IRA's sound great, but have the same problem as paper silver, in that YOU DONT HAVE POSSESSION OF YOUR PHYSICAL SILVER. Why bother ?
With the right self-directed checkbook IRA, you can have physical possession of silver and gold Eagles. Can't buy life insurance or real estate you live in, but most anything else is possible.
LINKY, LINKY, physical possession, right...
I already have an etrade account. As others have mentioned though its still a fraud. If you cant literally hold it in your hand and defend it with your guns you dont own it. Physical possession or it didnt happen. We will just keep stacking and stacking, buying all the way to $0 if these pigs want to try that. The only thing is we keep loosing our stacks at the bottom of the local lake! Our boats keep capsizing. Can anyone recommend a good, stable water vessel for safe transport of stacks of PM?
Canoe and a drill. and a waterproof map to make that "X" on.
If you wait a few weeks you can defer the tax hit.
Smart woman! I'd rather have the 50% now than the 0 later...
I have been talking since many moons about SnP 18xx and Gold and Silver much much lower.
And this is just the warm up.
This is the start to major deflation of comodities, i'm pretty sure equities will follow. Or maybe anouther hellicopter drop will save the day.
Only commodities go down, equities always go up, same with bond prices and the USD.
Illusion > reality.
Only monetary commodities go down.
Yes, good catch.
It can't be "the start", look at the grains, gold ,silver, copper,$Natgas.... shit started down long ago. Apparently we won't be eating or feeding much of anything in the new normal... So we all just Eat the Machine and its paper "Products" soaked in Crude Oil, I guess. Apparently Oil is in the club, for now.
Spot Silver is trading back to early July 2013
actual silver is on top 2008 panic
hahaha
thanks you so fucking much ben
This is all, as usual, perverse and counterintuitive. The economy is doing fine for the traders, speculators, the employed and the governments.
Then again, we're talking paper here, not metal. And one day they'll need the metal.
Yes, there is no unemployment if we don't count the unemployed. The banks are safe as long as the fed makes interest free loans to them and there are no bread lines as longas 49 million people get their SNAP card every month.
the papering over of reality continues with slippery words like "unexpectedly" and "ongoing recovery" when in reality the economy is bleeding as bad as 2009, its just they've painted the world red so you can't see it with your eyes.
No sense buying up some hard assets in case dreamland becomes a nightmare, Amazon's gonna deliver my new Ipad by Drone, don't talk to loudly, I don't want to wake up until its in my sweatyl little palms.
The amazing thing is how few people even try to see reality anymore, most are happy to be distracted and entertained by the pretend worlds on their phones,computers and tvs.
Why open your eyes and look around you when Marie Bartoblowjog will do if for you?
If a person got into BTC early ($1-100 range), this is a great time to cash in some profits in for PM. --> Hedge, diversify into useful real assets (PM, land, etc). I would, had I not done it ass-backwards (invested in PM when I was looking at BTC in Summer 2012) and got stuck with ass-backwards results. [sigh]
The beauty is, both BTC and PM are rather untraceable to a specific buyer/seller, and both take currency out of the 'Money Supply' and reduce the VoM. Which pisses off the Fed.
Could be... this is the real reason TPTB created the new NSA center in Utah: to track cyber-currency activity and seek to ID patterns and persons. It means little to non-US Persons, of course, as foreign countries and people don't give a crap about the NSA or IRS. Seems more like a tool (Chinese Wall) to keep Americans' currency from leaking out beyond the reach of the tax man.
I wouldn't say it means little to non-US persons, I'm sure the NSA would sell the info collected on world citizens to whichever government is the highest bidder.
Memories of two old ladies at the LCS when silver was $32 and they were going to spend their savings to buy whatever they could. That was the time to sell silver.
On the Kitco forum today there is a thread about shorting gold. it's probably a good signal to buy gold.
You can't eat silver !!
Actually, you can. It makes an excellent anti-biotic in small doses.
Colloidal Ag, that is. Bullion weighs a bit heavy on the stomac.
And you can't eat a bit coin, nor a dow, nor a T-bond. Greenback salad maybe?
Yeah and it's also not a good idea to be eating paper and cloth with ink on it either.
And even if you tried to shit out that piece of "silver" at least you'd have something to look forward extricating from the toilet bowl considering the time and expense it took to mine it and create it? Best of all you'd get your full return on that investment a second time because what went into you will come out of you the same way unscathed.
Try that with $100.00 bill that didn't cost anything for the bank to create and is as useless and poisonous going in as it will be coming out!
A good day to buy silver and an international health insurance policy.
"Worst monkey hammering since the septtaper talk". Not a coincidence. I have a prediction. They will talk and talk about a taper I December, and then not taper. The monkey hammering is to lower the price so that hen they announce "no taper" to the shocked masses, and gold and silver jump up from their current monkey hammered levels (love that phrase, as you can no doubt tell), it has room to go up without alarming anyone. My other prediction is that gold, silver, and gdx/gdxj all jump up a few seconds before the actual announcement is released, clearly showing illegal leaking of the Feds decision, and nothing will be done about it.
Yep, this is exactly what happened last time. They're just backing the gold/silver goalposts so they don't look bad.
It still pisses me off that the markets are taking this BS. We're essentially at 2009 levels for the price of gold, heading for 2008 levels. The US debt has increased from $10T in 2008 to $17.T, and gold is heading down? Global debt increases are even bigger. It's a global fucking fantasyland pretending that all of the fiat currencies are in better shape than gold is, 4 years into the second depression.
"Us debt has gone from 10T in 2008 to over 17T" not only that, but our real deficit, using GAAP accounting, is running in the 5-6 T range every year and getting worse. That 17 T is a drop in the bucket compared to our true I funded liabilities in the 220T range. There is no way to pay for it all without destroying our currency. All big countries are in this situation, and the only real currencies of gold and silver continue to decline. It is a fantasy land, and when the facade finally drops away, it is going to be a depression unlike anything we have ever experienced. And that doesn't even take into account the huge pool of derivatives that no one even knows the true amount of, but could bring down our entire financial system, and with it every single fiat currency
Untaper? I reckon they'll announce a new fed program:
A 25% credit card, with a 25 grand limit pushed under every door in the US.
For the children.
"Attention preppers and those generally in the know. There is a blue-light special on silver going on at your local coin and precious metals store. For the next few weeks or so, silver will be on sale way below its real price. Stock up now."
Paper gold and silver to zero, bitchez.
Michael Snyder: We Are Near The Peak Of An Absolutely Massive Stock Market Bubble
Michael Snyder presents a great compilation of the Bubble signs in the markets. We will add Bitcoin and Quark to the list. The way Gold is smashed today again is making us wonder: is it "Gold market" pricing in Taper or preparation for No Taper announcement by the FED? NYSE Margin Debt normally peaks before the Top in the Equity markets, what will be the Catalyst this time? http://sufiy.blogspot.co.uk/2013/12/michael-snyder-we-are-near-peak-of.h...
I've read Snyder's articles for at least two years and he is really full of crap, with a constant agenda to generate fear that the end is RIGHT AROUND THE CORNER.
Right on. His research is fairly good, but damn is it depressing. I prefer to wake up in the AM and have a little hope.
Yeah, I quit reading him because it is all doom & gloom. The end of the world any day now (for years). It does get depressing. Plus, he's a very religious person which I'm not.
ya the religious stuff is off putting, as I am a devout athiest. But in the end, aside from that, he will probably be right. Just like peter schiff, ron paul, etc. Thy are doom and gloomers and crazy wing nuts until eventually they are right. Their timing is just off. I must confess, Im surprised its all held together this long
I agree Carl, by the way did you ever get your stuff out of lay-away?
Cannonball...
Do you think the concrete floor of my apt is strong enough if I only stack the 10x12 room to 6 feet?
I wouldn't try it
208,000 Kg
$128m
nice
At this rate silver will be zero in 3 weeks. Bring it.
Silver For The People
$0 per OZ Silver? I'll buy.
Did you want to carry that on your back?, or did you have a mule?? It's about 3 mile walk, and don't forget to bring your food and water for the duration. No scales or hills, but the tracks are torn up pretty bad and the spark won't light. Oh yea, it's winter too.
'I don't know, but I've been told. It's hard to run with the weight of Gold. Other hand I heard it said. It's just as hard with the weight of lead.."
COCKSUCKERS!!! actually at this rate, I think eventually they will pay us to take it off their hands. I just ordered a new liberty 30 gun safe that i would love to fill up with it, so keep it up fuckers.
..at a $1/day. I'm more realistic, I assume it will just drop 4.25%/day - still, even with my 'methodology', it'll be under $10/oz by Christmas.
Damn, just ordered an Enfield No.1 Mark III. I'm skint for now.
Hopefully the price next month will be even lower.
Silver BITCHEZ ?....maybe
I thought sprott said this shit was going back to 50 bucks by the end of this years..............
Sprott and other charlatans never change their tune - buy buy buy gold and silver. There is a time for everything.
as opposed to what other Charlatans... the paper pushers? They're right, just early.
29 days left?
Started buying at $36/oz all the way down. The only thing the "market price" means to me is how many pieces of paper I have to bring to the coin shop. I still feel like I get the better end of the deal when I walk out with a heavy bag of coins, in for the long haul...
He said 50 bitcoins.
Also, I dont know if you guys are aware or not, but its not only sprott- the rest of the KWN crew is bullish on both gold and silver, so thats gotta count for something...
Clearly the miners, their execs, PM stockbrokers, agents & shills will not have a "silver lining" this X-Mass.
Their sales-pitch is bound to wind up to levels of high pitch, in their desperation to protect their jobs and lifestyles. Of course, as usual, a few Insiders will always do well in this Sideways market, making money off a host of speculating Outsiders: The Casino never loses. Players do.
Silver Bells, anyone? Real cheap.
No - this is yet another go round of the big boys shaking the tree and getting the real assets to fall out of the weak hands and into the strong - who will never relenquish it.
QE = $85B/month in fiat creation - and PMs go DOWN? And you see nothing wrong with this, and believe in the underlying strength (laugh) of the USD? Come now good sir, surely you are not arguing this point?
Buy now - I hear they're taking simple paper in exchange for actual PMs....what fools they are!
It must be getting close to buy time, I have been barfing up a storm today....
yes equities went strait up from 07 to 09,
I wonder how people, who listened to Chris Duane in 2011 and sold "everything they own" to buy silver, are feeling these days?
Don't put all your eggs in one basket. Or all your bitcoins in one wallet.
Timing is everything and it is never a good idea to buy like these charlatans advocated. If gold goes up to a certain level, that signals it will still go up so you buy. There is a time to sell. Smart money knew when gold was in the $1500s and couldn't hold, it was time to sell. At some point everyone will become bearish on metals and then they will go up, and I suspect higher than $2000 for gold.
"When gold was in the $1500s and couldn't hold, it was time to sell." Sell for what? Fiat $'s? No thanks.
Worrying. But everything else is rigged too. Bad silver day, Bad bitcoin day. No good news.
Last X-Mass the Prepper crowd went hog-wild stocking up on G+A (over a Gun-fiscation that never came).
This X-Mass they may be persuaded to do the same with Silver: Hurry, hurry, before it goes to $25, $30 or $40! [but drops to $15]
Am getting cynical/skeptical in my old age... suspect that even the Doomers/Preppers are getting manipulated out of their hard-earned fiat, when many can hardly afford to pay their bills. Reminds me a bit of the Ghetto crowd where they live in a hovel, but have the "Bling" and fancy wheels. Sheeple, FUBAR!
i did buy an AR at that time, but I am very glad i didnt go overboard. But if you are on a long time table, and buying to hold hopefully until you retire and can trade them in for a nice piece of land, then you wont be upset if you buy at 20 and it drops to 15. I bought at 38, 35, 30, etc, and will keep buying. The only time I will pause is if/when it goes on a bitcoin-esq parabola upwards, during which I will just sit back and watch. Going all in on anything is never a good idea.
Please go to 1$ an oz.
I would be rich.
Swimming in coins.
Like a dolphin or Scrooge McDuck?
Mutha Fukn Scrooge McDuck.
http://www.heyuguys.co.uk/images/2012/06/scrooge-mcduc.jpg
And if you fell ill and needed to sel it, then they would grab your stash for peanuts.
Good time to buy more Phys. xag. Buy Silver Online | Buy Silver Rounds | APMEX.com
Merit has always beaten Apmex on silver bullion and always has free shipping on $1,500+ orders. Why bother with Apmex?
Merit is very good! I'm familiar with them. Thanks. :-) I like to hit my local coin shop in the village also. They're a bit pricier but have some unique items.
I'm wondering how much of this is people taking their paper losses for 2013 taxes?
I took a breather from the stacking of physical, I'm glad I did, but the same reasons I started stacking are still with us. Until that changes, take advantage of the dips.
BTFD?
its raining silver eagles....
I loves me a sale. I'm drilling holes in a boat to take my new shiny silver birdies for a swim.
Haven't seen the bottom of gold and silver. I expect more degradation based on all the good news and manipulation. But who cares when you can buy binary numbers that are literally nothing more than electromagnetic ghosts on a metal platter. I know, the computer network is what makes Bitcoin valuable, but try buying anything when the network is gone. Or, by chance you throw your hard disk away.
I bought some gold maple leafs 5 weeks ago from a reputable deal (one who had been recommended here). I have purchased from this dealer on 4 other occasions, however, it has 5 weeks since my money was wired and I still don't have my coins. They are telling me they are back-logged due to limits placed on how much they can ship each day. Has anyone else encountered this "excuse" for delay in shipment?
Sounds phoney to me! Which dealer was it? Dealers that abuse their customers like this deserve to be publicized.
I agree, but businesses that get called out online in venues like this tend to sue the messenger.
Cicero, I know exactly to whom you are referring and with whom you are dealing, and rest assured that your delay is just par for the course when ordering from that particular dealer. You WILL receive your order, though.
I don't see what grounds they would have for a lawsuit if everything you say is true and can be documented. If some store cheats you or takes a very long time to deliver, it is not (yet) illegal to tell other people about this.
If you bought 5 weeks ago, gold was probably around $1350. By waiting 5 weeks to ship, they have saved themselves $130. I personally would avoid a dealer like this unless their prices are significantly lower than alternatives.
There's a dealer on the West coast that has a large number of high dollar orders overdue by up to six months. He was through bankruptcy in the 90's. You could do a google search to see how to proceed.
For all those relishing the monkey hammer of metals, you are no better than the thieves that accomplish this illegal activity. You go along to get along and for doing that you further the agenda of evil. Shame on you Even If you have nothing to do with it, but when the jackboot comes to your door and kisses your cheek, remember, you promoted it.
Hi Rebel,
I just want to be certain I understand your position here. Most of use here do not relish this artificial knockdown of these prices; in fact, it is quite the opposite. The reason for doing this is probably more nefarious than our collective imaginations can dare dream - however, is it wrong to accumulate whilst it is being put on sale? Are we to ignore the opportunity being presented?
I just wanted to be certain I understood what exactly you were condemning with your comment, knowing full well that craving this criminal knock-down and taking advantage of it are two different things. I usually always enjoy your insightful posts, and wanted to make sure I understood your POV.
Respectfully,
Colonel Nathan R. Jessup
I see a sale as well, but some folks think the monkey hammer is funny and that metals are stupid for investment. I see digital ghost numbers as the fraud. I guess we agree. Is hate fraud and it's perpetuation. Thx for the kind words.
buy all you want at bargain prices courtesy of Federal Reserve [taxpayers] but just don't try to take delivery
I think that tomorrow I'll treck down to CalgaryGoldMart and pick me up another few hundred in junk silver:Dimes,Quarters and Fifty Cent pieces.Fill-up another jam jar.
Nice of the big banks to cut the spot price on the same day as many silver mongers are cutting their premiums for Cyber Monday - even on small quantities. Great day to buy a little or a lot - even pre-orders on 2014 ASE's.
I will sell my silver the day that Congress passes a realistic plan to deal with $70+ trillion in debt and unfunded liabilities. Until then - keep buying every dip!
The bottom line: I will never sell any of my PMs at these depressed price levels... N E V E R ! ! !
And IF the price falls under $1000 I would be as happy as a pig in shit.
The way I see it is the declining price is a gift and second chance to accumulate ounces on the cheap (like in 2000) and build up a even larger position.
When viewed as a single premium insurance policy, it can only be considered good that it never needed redemption, but is passed on to children paid in full.
As you ride your horse to the bookstore to buy a map of the flat earth? LOL. Never change! Always protect currently held beliefs no matter what new information may become avaliable!
What happened Connor? You said in the other thread that was bashing BTC that you were leaving ZH and won't be participating in conversations?
Gold and silver will either be made illegal to trade or set to a fixed price again. Why do you bugs watch this market and believe something else. There ain't no Sanity Clause, and if you are 55+, chances are, you will never see the shiny fruits of your hoarding. A store of value that can't be converted is the plan, and you bugs know it. There are far more stores of value than PM's, if you look.
Yes, because we all know that PM holders have EVERYTHING in PMs. No diversification, no consideration of other stores of wealth. It's just all shiny metal that we rub with a frenzied look of glee while we await the apocalypse. THANK YOU for showing us the light. Where would I, personally, be without you?
Oh and heaven forbid we put away something for the generation(s) coming after us. We must be crazy to think of our kids and grandkids and how best to preserve our wealth so that they can use it.
Do you even know any PM holders? Or do you just know of them, as told to you by someone else?
Unmitigated clarity.
Well done!
That would take an admendment to the constituition of the United States. One that I believe wouldn't fly without much blood shed.
Silver bugs = masochists. Seriously, do you really think the comex is going to default? You have been harping about that for what, 6 years now? Sorry to break the news to you, but the comex is not defauting. Silver will never trade freely. I took a bloodbath on silver for years untli last year when I faced the music and accepted the corruption is not going away. Guess what? Bitcoin is decentralized, it cannot be nake shorted and it does not trade on criminal fractional reserve exchanges. Tha is why it is a superior store of wealth to silver. That is why in 2013 I made up my losses in silver and then some, a lot of some. If you want to continue to piss your wealth away keep stackin' guys.
Is that a whiff of eau du NSA that I smell about you, John?
Nope. Just an average guy who believed the comex was going to default for far too long. The twisting knife of PM smack downs got me to realize the twisting knife of PM smackdowns will never end. Who is going to end it for us? Ron Paul? If you want to end the Fed and the criminal corruption at every level of centrally controlled authority it won't be through metals traded on their exchanges. it will be through decentralized open source tools not owned by anyone or controlled by anyone: cyrpto-currencies.
Whether you are an establishment agent, a bitcoin shill or just a historically clueless, navel-gazing geek, have fun with your e-tulips.
Let me see if I got this straight. Bitcoin is a digital currency, right? It does not exist in the tangible world, but exists in silicone bits and bites which are housed in server farms, which are powered by an antiquated electric grid, which must be maintained at 60 cycles per second, and balanced between supply and demand, while transmitted through a system of wires which are hung on poles over 50 years old, subject to electromagnetic pulse or some drunk asshole plowing into one of their rotten power poles, and is completely tracked by a draconian totalitarian global elite system of fucktards who use computer algorithms to manipulate and leverage all markets to their advantage, and they are scared of Bitcoins success?
What could possibly go wrong?
Lets not forget that man in the middle attack that just occured. DNS poison while users are directed to a fake look alike exchange enter there usernames and passwords. Mean whlie the guy on the other side is logging in the real exchange. Next there will be worms, trojans and a plethra of other crap knocking BTC around.