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Silver Turns Red For The Year
With 10Y Treasury yields pressing up agaist 3.00% once again (and equities shrugging off the taper-confirming news from ADP), precious metals are under pressure. Despite a few positive days, the last two have seen silver give back all 2014 gains and push back into the red for the year. Gold remains modestly green (still outperforming stocks for now).
Chart: Bloomberg
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NOOOOOOOOOOOOOOOO!!!!!
This was innevitable unfortunately. When the price of an asset is this inflated, it is attracted like a magnet to fair value. Normallyhowever, the asset overshoots fair value by a wide margin before eventually stabalising. Fair value currently sits at $18 an ounce, so expect to see it drop like a stone in the coming months.
Check out today's article at the Accredited Times to learn how Janet Yellen is leading the way for women's rights:
http://accredited-times.com/2014/01/08/the-age-of-yellen-a-new-landmark-for-womens-rights/
I got your fair value right here, buddy.
"Check out today's article at the Accredited Times to learn how Janet Yellen is leading the way for women's rights"..... Yeah, I'll get right on that!?!
LoL!!! MDB you've outdown yourself this time. Yellen leading the way for women's rights... Classic!
And MDB leading the way for the rights of imbeciles the world over.
so let me get this straight....
up in asia, down right before the open in london....
then down again at the open in NY...
all this on nothing but bogus govt. propaganda and penidng Fed jawboning....
yeah, makes perfect sense....just like the last 5 years.....
I WILL BE BUYING LATER TODAY.......
6 of the FEF chairmans were Jew.
http://www.jewishjournal.com/nation/article/fed_chief_janet_yellens_gend...
First for a woman.
Who is winning?
I reside in Switzerland, and dont' give a damn about the racial discaimer that appeared here? Why don't discriminate truth and lies instead? Or stupidity vs Intelligence?
Apologize. Facts are facts.
They are winning folks. Best outcome will probably be Terminators vs Muslims.
Silver is Sofa King We Todd Ed
i wish i could buy at fair value. i can buy it at close to $25. The premium on gold is much less.
Read Martin Armstrong before you decide to back up the truck. Timing is everything and Martin believes we have a bit to go on the negativity trail for metals.
Ummm. No thanks. You need to go back further into Armstrong's writings to see how long he has been saying sell gold and stocks. You think he timed gold well? LOL. No. It finally went down after blowing him up at least twice. As far as stocks, well he is still wrong on that one. As best as I can tell, his magic infallible computer program is batting about 15%. But that is due to manipulation, which is everywhere according to him, but impossible when things go his way. The guy is a complete clown.
Martin Armstrong has been calling for gold to have a sharp correction since it hit $400 US. He pays lip service to the veracity of holding some but always seems to tell folks to stay clear. He is also oblivious to the multi trillion dollar derivative world as far as it could affect gold. I read a lot of his writing in the past and I can't recall him ever saying to go out and buy gold today!
People, people, Million Dollar Bone-ass is a friggin genius. Just check it out. (wink)
She'll be leading the Romulan Empire to greatness shortly.
Missed you MBD, where you been?
I green arrowed you because you and your schtick were missed.
MDB - Amazingly you could be right on silver dropping from here. But $18 fair value - are you shitting me?
The chart shows a little downblip enginered by the New York traders at their opening this morning; it'll resolve itself this afternoon.
Yeeeeeeeeeessssssss
Cant wait to buy some silver under $14.
I have GTC limit orders all the way down to $12.
If silver goes below 14 I'll eat Turd Ferguson's hat...
You can buy a half ounce for less than $14 right now.
I just read that India is buying quite a bit of silver now...no taxes or import laws
Wish it were so. India has levied 10% tax on silver imports. Gold pricess in India are at east 15% higher than International prices.
Silver imports to India are up at least 300% year over year.
250,000 gold workers have lost ther jobs in India thanks to to the stupid policies of India. Collecting 13.5 billion of pieces of intellligence on India per month by the NSA has its advantages.
Time to buy looks like. Most other stocks too high now.
Wait until stocks fall in line and correct 40-50%. Gonna get Fugly.
Fugly is as Fugly does.
By the way, did you see the link on Yellen provided by MDB?
(after reading it you'll want to poke your eyes out, no BB gun required).
FOMC day. SSDY.
Wake me when silver passes $50 and/or Jamie & Blanche are hanging from lamp posts.
Blythe
Well, she looks blanched.
Oops. Uh...yeah, that's it. My post was referring to her pallor post-lamp post.
;-)
Glenn Beck is talking about ZH on his radio show right now. I'm not sure what to make of that.
Oh crap!
You didn't see me....and I was never here.
An influx of stupid?
From here to Beck?
He's just trying to make himself relevant.
After crapping on Ron Paul during the last election he's now taken up the banner to End the Fed, all the while shilling for Goldline.
Get it?
if (Fed == Bad && Goldline == Good)
Meet me on the (gay) Blaze while I shill for Goldline and pad my accounts
No shit?
Happy new year MDB. Your championship-level trolling is an inspiration to us all!
Sucess again for the Jewsih gansgters running the sewer sytem on Wall Street!
Roy Schneider's quote in Jaws comes to mind:
"We're gonna need a bigger boat."
The final battle is being fought as we speek. The flash-crash sucker punch did not work, and in our opinion the cartel has given the command to go all out (all in) against PMs. If metals rally before the end of the week, Black Tuesday is a real possibility.
"If metals rally before the end of the week"
Sure wish I could get excited about that statement. My ass is bleeding still from all these smackdowns. The only thing I am long is KY
The ass-reamings will continue... Seriously though, we feel your pain. If you need a morale boost, check out King World News as they have some fantastic charts...
The charts are used to justify contrived 'corrections' and ignored when they suggest a bounce is due.
As a price discovery mechanism this market is pretty pathetic; the background factors that should affect the price are pretty constant, but the price is all over the map. In retrospect, it was genius for TPTB to allow the price to ramp up to $50:
1. Now there's room to run if control slips; we're still 'well below 2011 levels - nothing to see here'
2. They've shown that the metals are their bitch, and they're going to run game on them until they throw a rod.
3. The massive price fluctuations set the table for constant quick profits as the prices float up and down.
4. The run down has been depressing and has definitely chased money out of the market.
If they drive silver too far below production costs, that will be a sign that they have either given up on the idea of long term price control, or that a reset us due soon (or both).
That happens with paper trades of all sorts. If you're a physical holder and expect to trade, then I say you're foolish.
You should buy physical with the intention to hold on to it, rain or shine and it's not till you are living in a cardboard box you dump it. Go make some money and build your cash reserves, life will seem better.
I'll say this. Normally when these smackdowns occur you're looking at a 3%+ loss on some days. Recently the metals appear to be more resilient & if they close today in the mid 1220's then I would agree with your analysis. The Central Planners have a few Hail Mary's left in the playbook though.
Hail Mary's!!!! Someone needs to remind them that they play for the other team.
Banks/"smart" money are positioning themselves long en masse (so I've heard). Every time the cartel smashes, the market is swarmed with bids. I'd be surprised if the bottom isn't at last in. Of course, if following these markets over the past 4 years has taught me anything, never underestimate the power of the cartel and human stupidity...
I think everyone here has forgotten WHY the Fed and the big banks are so interested in keeping a cork on PM's. The Fed's invisible mandate is to convince the world that its data is real and reliable. PM's reveal and expose their lies when it comes to "real" inflation and "real" currency debasement. This is why there is an obvious and clumsy daily intervention to squash any upside movement in PM's. Secondly, physical gold and silver are 92% more likely to be held outside the financial system (IE; safe deposit box, Gun safes etc). Therefore, the value of these assets are not available to be borrowed against and leveraged by the big banks - So, they have no option other than to shake the trees of the world by crushing paper value, so to fuel selling - So they ultimately take ownership and control of the asset. Its no more complicated than this.
Single digits before the year is out.
didn't you say that a few weeks ago about the end of 13'? Your input and opinion is about as enjoyable to read as a Paul Krugman blog post.
Reality sucks, doesn't it? PMs are pawns in the chessmasters' hands. The only people making money on it are the coin dealers and moneychangers.
no... not really. I've got a couple gold coins I bought back in 07' that last time I checked were still money and would put me in the black if I went to the same coindealer I bought them from. And oh yeah, My Grandfather has a few American Eagles he's had for a very long time that refutes your percieved reality.
you don't like PM's... we get it. Have a lovely fucking day.
Liking and not liking don't enter into it. Its what those in control want the majority to believe. Will the lid blow off one day? Maybe... or maybe not. We can go a lot lower for a lot longer than anyone thinks. There may come a day when even VERY long term holders are under water.
Liking and not liking ?
Thanks for confirming you get paid by the word.
FM...lol...I know some people on ZH troll just for the fun of it, but this guy may actually be full retard...
Its what those in control want the majority to believe.
Are you talking about the majority of idiots in the US, or the majority of people/countries on this planet who do and have revered gold for much longer than the US has been around?
Just trying to get your perspective here. I see you only seem to post when metals are down, you know, kind of like a troll. Pm's are not a 'trade' for most on this site and we much prefer to buy at lower prices.
fd, all your statemnets are amusing greatly, even for a non-goldbug.
I hear shit like this since 2003. I well remember how, in 2003, all the media screaming that buy gold - it's stupid and useless.
My gold investment from 2003, today gave me 300% of the profits. It is now 300%, with unprecedented 30 years of falling gold prices! LOL
Does zero count as a single digit?
True price discovery won't come while the COMEX continues to set the price.
Yes, the ask on paper will go to empty set.
True price discovery won't come while the COMEX continues to set the price....
Ridiculous. Are the cattle options on the COMEX fake, too? You guys had no problem believing the COMEX price when it was going up. Now that it's collapsed by over 50%, this "fake COMEX price" bullshit is just the silver pumpers excuse for falling prices.
Real on the up, fake on the way down.... sure.....
Cattle futures you say?
http://www.barnhardt.biz/2013/08/09/how-hillary-made-that-100k-in-cattle-futures/
Cattle don't really have much of a future... unless you think grilling is an optimum outcome.
I wish, because I'm buying now and will be buying then.
Your opinion must be based on how you've observed lack of demand in Asia.
What would happen if the Asians decide to sell? Oh right.. "asians don't sell"
What happens if my grandmother suddenly will be have balls?
It will be a grandfather, is not it?
I can only Hope!!!
I will buy with all my might at single digits, verses half my might now.
I honestly hope you're right! The thought of 10 ounce silver engelhardt's at around $80 again in my lifetime makes me feel like a 7th grader riding a school bus down a bumpy road, all the while peeking up the aisle at that hot country chick in the 9th grade:-)
$2 per would be nice. Not sure what that says about the economy given the many industrial uses of silver. I wonder if those savings would get passed down to consumers.
silver is that red head you always wanted to fuk...but never did.
Yeah but right now someone else is fucking her!
the time is soon, to see if she is "available".
on a more serious note - this will be the year we find out how low the p m ' s can be manipulated.
suport will be broken and we will find out how close to a thousand it will go- nothing right now is suportive of AU, unless you believe the market isn't manipulated...
Years of very strong demand for silver and gold yet price beaten down to at or below extraction costs.
So you can go out and buy gold and silver almost cheaper than you could by owning a gold or silver mine.
When you can buy something that is:
1. in continuous heavy demand globally that is unlikely to let up
2. at production cost
3. that are monetary metals in an environment where fiat is being dramatically diluted ..and debt will grow by over a trillion every year....
4. with paper gold/silver sold 90 times over and if any fraction of it had to be really covered .....
5. with many countries bankrupt or near bankrup...
6. high risk of black swan economic chaos happening on a global scale..
What are then the risks of going out and buying a truck load of gold and silver right now....even if they manage to crash it some more....when you are at production costs with those elements in play....reversion to mean is inevitable.
Making silver and gold cheap of course just allows more of it to be sucked out of the system at greater pace....building a greater crisis later... and it is going into strong hands....not stupid paper players. If they decide they want physical gold and silver they wont shake it free in any volume without allowing the market to set a genuine price.
So how low do they take the price until it is impossible to get any gold or silver at ... a $1000 gold will be sucked up at light speed by anybody in Asia with money. Taking the price lower makes the metals more and more scarce.
In it's relationship, short term silver is going cheaper than gold.
That's all you need to know
It will soon be time to back up the truck around feb
Silver and Gold are a Generational thing, you pass it down to the next generation, and they are always very happy to see it. :)
My dad gave me a significant loan some time ago. I've been making monthly purchases of metals (approx. 50-50 Au/Ag by value) in the amount of the agreed-upon monthly payments and storing them in my safe...dad has a house key and the combination in case of accident/disaster. If, as expected, he and Mom go first, at least a portion of my inheritance is already safe and can never lose significant value. If something happens to me, he can make a trip and pick up what I've paid in 10 minutes along with my own stash to cover the balance of the loan and then some, safe from any taxes, confiscation and whatnot. I *like* that arrangement and highly recommend it for anyone in a similar position.
Nice.
Physical silver will turn green if exposed to some natural elements, but it will never turn red. Thus is the difference between faux paper silver and genuine physical silver.
Hoot.
Hey Dawgs,
Silver is my sole investment for the past half-decade. I just don't have time for imbecile brokers or kamikaze day-trading, etc.
But, I ONLY trade the Miraculous-Medal Medjugorje Medallion, because:
1.) $1.50 Strike Price is the lowest of any specialty coin/medallion/round in the world.
2.) .999 Fine Silver in 1.0 - .50 - .25 - .10 ounce sizes for every occasion.
3.) Trade executed 'at spot' same day check/wire clears their bank.
4.) Delivered to my door insured, by the postman within +/- 12 days in easily storable plastic containers.
5.) Religious Medallion - NOT MONEY or any specie thereof, so the gubbermint can't confiscate or tax it.
6.) Wild fluctuations in the price of Silver [$18 - $48] averaged with monthly purchases in the amount that’d otherwise disappear into the black hole of a 101K account.
www.globalsilverinvestors.com
What’s not to like?
Regards,
PFO
Yawn. I used the opportunity to add shares of AGQ.
Its over, silver is finished.
It is funny how closely gold and silver charts correlate... Given that the dynamics of the two should be vastly different... As to commenting... again... On the smack downs... see above charts... what is the point... folks will believe what they want to believe...
I remain as far out of the system as I can short of joining the mission to Mars.