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Silver Screams To Best Day In 5 Months; Up 11 Days In A Row

Tyler Durden's picture





 

Silver's 4.4% rise today - back above $21 for the first time in 3 months - is the largest single-day surge in 5 months. While gold has been making the headlines, silver has risen 11.9% with no down days in the last 11. This is the best 2-week run in 6 months as the Gold-to-Silver ratio has collapsed from over 65x to 61x today.

 

Quite a day for silver...

 

Gold-to-Silver ratio back to trend...

 

We suspect the almost record shorts in Silver are feeling the squeeze...

 


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Fri, 02/14/2014 - 14:22 | Link to Comment Canadian Dirtlump
Canadian Dirtlump's picture

My battered wife syndrome has me looking over my shoulder expecting a beating any second. Refreshing to see the advance, but gotdayum.

Fri, 02/14/2014 - 14:26 | Link to Comment StacksOnStacks
StacksOnStacks's picture

Looks like dumping my BTC and scooping up Ag was a good idea.  Who woulda thunk it?

Fri, 02/14/2014 - 14:28 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

SILVER, BITCHEZ!!!!

Man I've been waiting a long time to say that again.

Fri, 02/14/2014 - 14:28 | Link to Comment TeamDepends
TeamDepends's picture

Au/Ag ratio at 61.54 and dropping.  Watch out at 57!

Fri, 02/14/2014 - 14:35 | Link to Comment Mad Mohel
Mad Mohel's picture

I'm "Gold BITCHEZ!" as much as anyone else but when you guys use words like the ratio "collapsed", isn't that being a little overdramatic?

Fri, 02/14/2014 - 14:47 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

yeah let it collapse to 16 to 1....

Fri, 02/14/2014 - 14:57 | Link to Comment fonestar
fonestar's picture

It's about time the fake silver market did something.

Fri, 02/14/2014 - 15:56 | Link to Comment Crash Overide
Crash Overide's picture

...and over to the real Bitcoin market at Mt. Gox?

Fri, 02/14/2014 - 16:15 | Link to Comment fonestar
fonestar's picture

Real and shitty are two different things.  But fonestar can think of many things that are both real and shitty simultaneously.

Fri, 02/14/2014 - 19:56 | Link to Comment SILVERGEDDON
SILVERGEDDON's picture

Well, that comment explains a few things. Having a smelly dick does put a new perspective into your ass backwards investment strategy. 

Fri, 02/14/2014 - 20:10 | Link to Comment fonestar
fonestar's picture

What ass backwards investment strategy would that be?  The one that got fonestar into $16 BTC?

Gold and silver will eventually flow out into ethereal things anyway, primarily title as in shares, property, loans, etc, etc.  You had better correct this error in judgement (nonsense about only trusting tangible items) and buy your Bitcoin today.

Fri, 02/14/2014 - 20:57 | Link to Comment SILVERGEDDON
SILVERGEDDON's picture

Keep smokin' that Bitcoin crack. No hope for your Hopium ass, fersure.

Natural selection is a bitch. 

Sat, 02/15/2014 - 00:48 | Link to Comment Lionhearted
Lionhearted's picture

Sliver gains 11.9 % in 11 days. BTC loses 50% of it's value in 7 days. I better sell my silver and buy BTC before I lose my shirt. Right?

Fri, 02/14/2014 - 14:59 | Link to Comment linniepar
linniepar's picture

Queue fonestar with the btc/ltc ratio. Though I made money in crypto, it's quite lame and uber-manipulated. Stack on.

Fri, 02/14/2014 - 15:02 | Link to Comment NotApplicable
NotApplicable's picture

LOL, missed it by thaaat much.

Fri, 02/14/2014 - 15:00 | Link to Comment linniepar
linniepar's picture

Creepy timing.

Fri, 02/14/2014 - 15:04 | Link to Comment fonestar
fonestar's picture

You think the cryptos are manipulated?  ROFL!

Fri, 02/14/2014 - 15:08 | Link to Comment linniepar
linniepar's picture

Yes. Once banks got whim, wham! I usedto think btc was going to be a major player when global capital controls are implemented.  It might still, but I prefer the "ching" sound that phyz makes.

Fri, 02/14/2014 - 15:21 | Link to Comment fonestar
fonestar's picture

fonestar actually believes that the cryptos trade classic patterns and you don't need to be brilliant trader to figure out.  Stop buying when you see them starting to go vertical, wait for them to crash 50 - 60% and buy some more.

Fri, 02/14/2014 - 19:24 | Link to Comment silverserfer
silverserfer's picture

you never cease to amaze me fonestar. As soon as I think you have said the dumbest thing I've heard all day you pull this our of your hat. 

AND TOTALLY REDEEM YOURSELF!

 

http://www.youtube.com/watch?v=UnkefjCES-4

 

" I traded all my silver for BTC straight up"

Fri, 02/14/2014 - 19:30 | Link to Comment fonestar
fonestar's picture

One single Bitcoin will someday buy all of the metal that the users on this forum spent years stacking.

Fri, 02/14/2014 - 19:48 | Link to Comment SILVERGEDDON
SILVERGEDDON's picture

FONESTAR CORRECTION.

If you can convince a retarded mogoloid helmet wearing special school bus passenger to part with his lucky wartime nickel, you might have a deal.

If there is a gaudy physical representation of a Bitcoin to hand over to him.

Otherwise, you are gonna get kicked in the nuts for trying to scam a retard for his lucky nickel.

Sat, 02/15/2014 - 00:51 | Link to Comment Lionhearted
Lionhearted's picture

I am pretty sure when the Zombie apocalypse finally hits your BTC wont buy you shotgun shells but my silver will.

Fri, 02/14/2014 - 15:27 | Link to Comment manofthenorth
manofthenorth's picture

To my knowledge section 19 of the Coinage act of 1792 has never been repealed or amended thereby members of the FED as well as our elected officials for the last 100 years are guilty of felonious treason under the terms of this section. Who could argue that our money has not been debased or outright STOLEN from the American people. The Gold and Silver reserves of the United States were the property of its citizens and has been sold by thee criminal bankers.

Section 19. And be it further enacted, That

if any of the gold or silver coins which

shall be struck or coined at the said mint

shall be debased or made worse as to the

proportion of the fine gold or fine silver

therein contained, or shall be of less weight

or value than the same out to be pursuant to

the directions of this act, through the

default or with the connivance of any of the

officers or persons who shall be employed at

the said mint, for the purpose of profit or

gain, or otherwise with a fraudulent intent,

and if any of the said officers or persons

shall embezzle any of the metals which shall

at any time be committed to their charge for

the purpose of being coined, or any of the

coins which shall be struck or coined at the

said mint, every such officer or person who

shall commit any or either of the said

offenses, shall be deemed guilty of felony,

and shall suffer death.

Fri, 02/14/2014 - 15:31 | Link to Comment manofthenorth
manofthenorth's picture

We are going to need A LOT of ropes !!

Fri, 02/14/2014 - 15:48 | Link to Comment J S Bach
J S Bach's picture

Silver will have to shoot to $88 if it's to reach its natural 15-1 ratio with gold.  But, at least it's finally heading in the right direction.

Fri, 02/14/2014 - 16:06 | Link to Comment Flakmeister
Flakmeister's picture

Hate to break it to you but there have been coinage acts in

1834

1849

1857

1864

1873

1965...

And you are aware that no legal defination of a dollar exists...

Fri, 02/14/2014 - 17:55 | Link to Comment manofthenorth
manofthenorth's picture

 DOLLARS OR UNITS--each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.

That sounds like a definition to me , fairly fucking specific !!
Also I have found no language in any of the subsequent amendments that somehow alters the VERY SPECIFIC language of Article 19

I am a product of 2 WWII military families and have been making apoligies and allowances for these criminal SOBS for entirely too many years NO FUCKING MORE !!
I will not convey the same lies to my children that were handed to me. Time to face the music and take these sociopathic scumbags to task !
Until we take the power back ( money , GOLD AND SILVER ONLY ) we are screwed.
Fri, 02/14/2014 - 18:04 | Link to Comment manofthenorth
manofthenorth's picture

There are the lies that we are SOLD , and there are the lies we BOUGHT

Our only shame is in the lies we BOUGHT !!

We can stand together and bring and end to this CRIMINAL theater or we can eat shit like COWARDS until we DIE.

I am tired of eating shit !

Fri, 02/14/2014 - 19:30 | Link to Comment silverserfer
silverserfer's picture

ya, they get around that by the mint porducing enough bullion to meet demand. and a murderous arsenal of thugs. 

 

Fri, 02/14/2014 - 15:09 | Link to Comment superflex
superflex's picture
Silk Road 2.0 hacked for $2.7mn in bitcoin

http://www.kitco.com/news//2014-02-14/Silk-Road-2-0-hacked-for-2-7mn-in-...

If you considered being hacked good, keep stacking your imaginary coins.

Fri, 02/14/2014 - 15:21 | Link to Comment fonestar
fonestar's picture

fonestar will.  You can keep your imaginary "dollars".

Fri, 02/14/2014 - 15:28 | Link to Comment Mad Mohel
Mad Mohel's picture

You know what's better than cryptocurrency?

Cryptopussy! You can sit and rub it on your face all day wishing it was real. But at the end of the day, you're still a loser.

Fri, 02/14/2014 - 15:37 | Link to Comment shitco.in
shitco.in's picture

Can't wait for LTC/BTC to be 4:1 

Fri, 02/14/2014 - 15:49 | Link to Comment fonestar
fonestar's picture

fonestar's been winning for close to two years with the cryptos.  Who are the losers moron?

Fri, 02/14/2014 - 17:51 | Link to Comment dogbreath
dogbreath's picture

I don't care how much you think you have made off of BTC,  you're still a fucking loser 

Fri, 02/14/2014 - 17:55 | Link to Comment fonestar
fonestar's picture

fonestar is the way of the future.  Imagine dealing with millions of fonestars in the real world every day.

Deal with it.

Fri, 02/14/2014 - 18:17 | Link to Comment dogbreath
dogbreath's picture

You are delusional

Fri, 02/14/2014 - 19:32 | Link to Comment fonestar
fonestar's picture

As long as fonestar is correct.

Fri, 02/14/2014 - 18:34 | Link to Comment Lore
Lore's picture

Re: "Imagine dealing with millions of fonestars in the real world every day."

It's already happened.

Fri, 02/14/2014 - 19:30 | Link to Comment silverserfer
silverserfer's picture

"fonestar is the way of the future" 

I see your future 

http://www.youtube.com/watch?v=hetaBX00wtI

Fri, 02/14/2014 - 20:02 | Link to Comment SILVERGEDDON
SILVERGEDDON's picture

Damm, I hope you are right. When all you digital warriors try to buy stuff with " The other fake fiat currency ", shit's gonna get real.

I guess you all will be good as split rail fencing material out on the north fourty.

Fri, 02/14/2014 - 21:11 | Link to Comment SILVERGEDDON
SILVERGEDDON's picture

Jerking yourself off with electrons ain't winning. 

Just sayin', moron. 

You must be an android, dreaming of electric sheep. 

Fri, 02/14/2014 - 15:36 | Link to Comment XenoFrog
XenoFrog's picture

Considering two of the major bitcoin trading houses are closed due to manipulation of the flawed currency, and silkroad2 just fucked off with everyone's bitcoins, only a completely deluded idiot would say that they're not manipulated.

 

Fri, 02/14/2014 - 15:37 | Link to Comment fonestar
fonestar's picture

These are businesses, and for that matter BTC-e, BTC China and others have been just fine.

Fri, 02/14/2014 - 15:56 | Link to Comment Crash Overide
Crash Overide's picture

STOP! this thread is about Silver!

Fri, 02/14/2014 - 16:01 | Link to Comment XenoFrog
XenoFrog's picture

The flaw is in the currency not the trading house, that's why everyone is in full panic. Lying to people only makes things worse. Shame on you.

Fri, 02/14/2014 - 16:14 | Link to Comment fonestar
fonestar's picture

The flaw is not in the currency it was with Gox and other exchanges wallets.  In fact watching the trading commentary on BTC-e during this supposed "crisis" barely anyone even mentioned it.

Fri, 02/14/2014 - 22:11 | Link to Comment SILVERGEDDON
SILVERGEDDON's picture

At least crack and meth heads know that they are addicted to their own deaths. 

You all just keep shining on that crazy Bitcoin Diamond, Fonestar.

Guys like you is why they bury people six feet deep.

Why ?

Because, deep down, they are good people.

You are doing a fine job with your bitcoin shovel there, Pilgrim. 

Fri, 02/14/2014 - 16:23 | Link to Comment SAT 800
SAT 800's picture

How about hanging up the fone, and go play a video game for awhile, okay? thanks.

Fri, 02/14/2014 - 16:21 | Link to Comment SAT 800
SAT 800's picture

With patientce all things are possible. Even the truth.

Fri, 02/14/2014 - 14:35 | Link to Comment XitSam
XitSam's picture

I'm waiting for 30. Edit: G:S that is.

Fri, 02/14/2014 - 14:36 | Link to Comment Skateboarder
Skateboarder's picture

How about the natural 15 to 1. ;)

Fri, 02/14/2014 - 14:46 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Bingo Boarder...

Fri, 02/14/2014 - 15:03 | Link to Comment ArgentoFisico
ArgentoFisico's picture

Sorry, it's even better than that, more likely 9 to 1 :D

http://oilprice.com/free-widgets

look for Precious Metals Production

 

Fri, 02/14/2014 - 15:00 | Link to Comment tmosley
tmosley's picture

How about the 1:3 above ground stock?  Or the 10:1 overshoot.

:D

Fri, 02/14/2014 - 15:21 | Link to Comment manofthenorth
manofthenorth's picture

As a miner I claim that the NATURAL rate should be about 10 to 1 , even 15 to 1 is a BANKER number not NATURES.

Fri, 02/14/2014 - 16:40 | Link to Comment Skateboarder
Skateboarder's picture

Whoops, I think I used the wrong choice of word there. 'Historical' was what I was looking for. 9-10 to 1 is the physical ratio in the crust, but the stuff had been traded at closer to 12-15 to 1. As you, Argento, and Meelion note, it's a banker's number or by mandate, but not past unreasonable margins.

The first section of Marion Butler's piece on 'Ancient Prices' shows the Au/Ag production ratio and inventory per capita from 2000BC to 2000AD.

Very worthwhile article about ancient prices in general.

edit: I've heard everything from 1:1 to 20:1 about the Silver/Gold crust ratio. I think 10 is close to the truth.

Sat, 02/15/2014 - 08:33 | Link to Comment kill switch
kill switch's picture

Good definition of crust GOLD/SILVER measures of rarity..

 

http://www.gold-eagle.com/article/how-rareundervalued-are-gold-and-silver

Fri, 02/14/2014 - 15:30 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

nothing natural about 15:1 - that was declared law by older monarchies & such, just another kind of fiat declaration.

Fri, 02/14/2014 - 16:09 | Link to Comment Flakmeister
Flakmeister's picture

Crustal abundance...

Sat, 02/15/2014 - 15:22 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Unconfirmed & what's reported is by old techniques. I think some more careful analysis is needed before a 15:1 ratio can be declared. The kind where you scan the ground with something that can detect silver & gold in the ground from far above, like a plane or satellite.

Fri, 02/14/2014 - 15:07 | Link to Comment LostPolarBear
LostPolarBear's picture

<--- I'd rather own silver

<--- I'd rather own gold

Fri, 02/14/2014 - 15:09 | Link to Comment Big Corked Boots
Big Corked Boots's picture

<--- I'd rather own both

Fri, 02/14/2014 - 15:24 | Link to Comment quasimodo
quasimodo's picture

It would appear the overly bloated toadstool Gartman dropped a junk on you.

Fri, 02/14/2014 - 16:03 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Either that, or someone has really bad aim with the mouse.

Fri, 02/14/2014 - 16:02 | Link to Comment fonestar
fonestar's picture

Gold - Silver - Bitcoin

Fri, 02/14/2014 - 18:11 | Link to Comment tocointhephrase
tocointhephrase's picture

Gold silver platinum fixed it for you

Sat, 02/15/2014 - 12:50 | Link to Comment Deathstar
Deathstar's picture

Lets see you spend your shitcoin anywhere away from a computer. If you can't hold it, you don't own it.

 

 

GOLD...  Everywhere you want to be.

Fri, 02/14/2014 - 17:58 | Link to Comment tocointhephrase
tocointhephrase's picture

Watch out at 2 to 1

Fri, 02/14/2014 - 14:31 | Link to Comment VD
VD's picture

silver at anything under $50 is a centrally planned (Fed=JPM=CRIMEX etc) rigged synthetic price supression....

Fri, 02/14/2014 - 16:04 | Link to Comment XenoFrog
XenoFrog's picture

"SILVER, BITCHEZ!!!!"

 

Indeed. 

Fri, 02/14/2014 - 14:38 | Link to Comment Canadian Dirtlump
Canadian Dirtlump's picture

I dumped my silver at 18 then bought bitcoin at 1000, I sold it at 600 for some magic beans. I'll show you fuckers.

 

( not you, but I'm evening the stories out because there is always the guy who times the topsa nd bottoms perfectly so I'll play the hard luck case today ).

Fri, 02/14/2014 - 16:05 | Link to Comment XenoFrog
XenoFrog's picture

People who perfectly time markets don't generally spend their time in the comments sections of articles. Anyone who says he bought bitcoin at $6 and sold it exactly at $1300 is a liar.

Fri, 02/14/2014 - 16:23 | Link to Comment SAT 800
SAT 800's picture

Those magic beans can be real winners; so I hear. Let us know how that works out.

Fri, 02/14/2014 - 14:58 | Link to Comment tmosley
tmosley's picture

Not so much.  BTC is up 11% today, while silver is up about 4.5%.

I literally told you so.  Mt. Gox is collapsing in a manner that will presage the collapse of the COMEX, which will make a lot of physical silver owners into multimillionaires in today's terms.

Fri, 02/14/2014 - 15:25 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

for something with zero backing of any sort, having an up 11% move vs a down-50% move previous is no compensation.
1.11 x 0.5 = 0.555 = loss of 44.5% from the 1200 high. It's toast, d00d3z.

Fri, 02/14/2014 - 15:59 | Link to Comment Crash Overide
Crash Overide's picture

I don't know what that means, but I know what it means...

Fri, 02/14/2014 - 16:10 | Link to Comment XenoFrog
XenoFrog's picture

It's amazing to see people rationalize bad decisions.  

 

"Sure my investment lost 50% of its value yesterday, but it's up 11% today so all is well!"

Fri, 02/14/2014 - 16:27 | Link to Comment SAT 800
SAT 800's picture

They're cult members. "The global warming is making it snow ! " And, so forth. it's a regular human function; one of the many defective ones.

Fri, 02/14/2014 - 16:36 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

Haha that's how I am with my miners. "Sweet I'm up 10% today!" Followed quickly by "oh, right, they are still worth 20% less than I paid for them....shit"

Fri, 02/14/2014 - 18:45 | Link to Comment samcontrol
samcontrol's picture

well you could of doubled up with agq and slw options at the start of the year. :).

Silver bitchez.

Sat, 02/15/2014 - 15:27 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Yup. I was all on top of the AGQ options earlier. NOW I'm not sure: the split has meant that only the old agq1 tickers look decent, for 2016, I don't like the premiums I'm seeing on the new 65-atm-strikes and how it's changed since the split. I know it's proportional but the actual dollar risk of a strike 19 agq1 for 2016 jan is not the same as one for strike 75 post-split

Fri, 02/14/2014 - 14:40 | Link to Comment crazyroadlizard
crazyroadlizard's picture

There will be a severe monkey-hammering before month end.  Sad to say, but true.

Fri, 02/14/2014 - 14:49 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

who cares if it aint real....

"do you think that it is air that you're breathing...?

Morpheus

Fri, 02/14/2014 - 16:04 | Link to Comment fijisailor
fijisailor's picture

Bring it on.  I'm a dedicated dip buyer.

Fri, 02/14/2014 - 15:25 | Link to Comment manofthenorth
manofthenorth's picture

Why we can expect Gold and Silver prices to go higher ? 2 words , MARKET SHARE. So many trillions in fiat chasing after a few hard assets.

KEEP STACKING

 

Sat, 02/15/2014 - 00:41 | Link to Comment Lionhearted
Lionhearted's picture

I am actually hoping for a dip so I can buy into it.

Fri, 02/14/2014 - 14:23 | Link to Comment TeamDepends
TeamDepends's picture

Hallelujah  hallelujah  hallelujah

Hallelujah hallelu-u-u-ujah

Fri, 02/14/2014 - 14:35 | Link to Comment Skateboarder
Skateboarder's picture

Silver is sweeeeet.

Make yer purchases soon. It's gonna gain some steam.

Fri, 02/14/2014 - 14:55 | Link to Comment Oscar
Oscar's picture

By far my favorite physical silver product

 

http://www.providentmetals.com/100-oz-rcm-royal-canadian-mint-9999-silve...

 

Fri, 02/14/2014 - 15:14 | Link to Comment superflex
superflex's picture

Those are perty.

My Silvertowne 10 oz Buffalo bars are a bit rough around the edges. I assume they are from shaving the edges to hit the 311 gram spec.

Fri, 02/14/2014 - 16:38 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

I have some of those too, always wondered about that. They are very well made, graphics wise. That makes sense though.

Fri, 02/14/2014 - 18:39 | Link to Comment lakecity55
lakecity55's picture

You can get free shipping from Silvertowne if you buy their brand bullion. Nice stuff.

Fri, 02/14/2014 - 15:21 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

hey oscar...

how was your purchasing experience with them...?

you know shipping timelyness and the whole lot????

Fri, 02/14/2014 - 15:41 | Link to Comment Oscar
Oscar's picture

Provident has the best silver prices so I would recommend them for any silver purchases.  I pay with personal check which they put a 5 day hold on until it clears.  Then your order goes into a shipment queue for another 5 days.  Bottom line: delivery is slow if you pay by check, but again, easily the best prices.  For gold, JM Bullion has the best prices

Fri, 02/14/2014 - 23:55 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

thanks ....

Fri, 02/14/2014 - 15:49 | Link to Comment Ignorance is bliss
Ignorance is bliss's picture

I know that you did not ask me, but I sent them a few checks. My orders took a couple of weeks to ship. They have to wait for the checks to clear, usually about 1 week. Then I'd get my purchase 7 to 9 days later. Their prices and free shipping made it worth the wait. I usually compare them with Gainesville and apmex before buying. So far Provident has been less expensive and I have had no issues getting my order. I like them.

They also have specials like $5 dollar shipping. Hard to beat when you are buying silver.

Fri, 02/14/2014 - 18:36 | Link to Comment lakecity55
lakecity55's picture

Provident is pretty much my go-to now, besides the local shop, which is running low...

Never had a problem with them. I do the cash discount thing, takes longer, but saves a few fiats.

If this is for real, we are going to see some UN-availability of Fizz pretty soon...

Fri, 02/14/2014 - 23:58 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

and thanks....

Fri, 02/14/2014 - 14:19 | Link to Comment Magnum
Magnum's picture

Still $21 that is chump change, it should be in the $30s++.

Fri, 02/14/2014 - 14:20 | Link to Comment Flakmeister
Flakmeister's picture

Never confuse what is and what should be...

It can be an expensive frustrating lesson...

Fri, 02/14/2014 - 14:26 | Link to Comment boogerbently
boogerbently's picture

....see gold X 5 years.

Fri, 02/14/2014 - 14:39 | Link to Comment flacon
flacon's picture

Silver should not be in the "30's"... it should be in the 300's!!!!

Fri, 02/14/2014 - 14:48 | Link to Comment NotApplicable
NotApplicable's picture

Silver is exactly as it should be. In ounces.

Measuring anything in Fed Notes is but a fool's game.

Fri, 02/14/2014 - 16:29 | Link to Comment tip e. canoe
tip e. canoe's picture

thanks, was about to say the same thing.  informative piece by Martin today on the "unit of account" aspect of money:

http://armstrongeconomics.com/2014/02/14/understanding-the-unit-of-account/

Saint Patrick upon traveling to Ireland, discovered that the unit of account was a slave girl. That did not mean you dragged a bunch of girls behind you to go shopping. What it meant was that this was the UNIT OF ACCOUNT that was being judged and everything else was valued in proportion to the value of a slave girl.

Fri, 02/14/2014 - 15:15 | Link to Comment Flakmeister
Flakmeister's picture

I measure the PMs vs oil, not fiat... 

I merely hope that they hold up against oil... A tube of Kruggerands is a helluva lot more portable than a small tanker truck....

Fri, 02/14/2014 - 15:28 | Link to Comment quasimodo
quasimodo's picture

Damn, at first I thought your post read "a tube of Krugmans". Not that he doesn't belong in one floating out to sea somewhere.

Fri, 02/14/2014 - 14:29 | Link to Comment kliguy38
kliguy38's picture

just a lesson in knowing the power that owns this game........now you know......when they're finished with silver.....you will have wished you had bot every oz you could afford at these levels.

Fri, 02/14/2014 - 14:30 | Link to Comment fonzannoon
fonzannoon's picture

we have seen these rallies before in stawks/pm's. they were always a run up to a QE announcement. this is weird.

Fri, 02/14/2014 - 15:22 | Link to Comment disabledvet
disabledvet's picture

buy on the rumor...sell on the fact.

Fri, 02/14/2014 - 14:51 | Link to Comment in-Credible Banker
in-Credible Banker's picture

And I SHOULDA shot 76 on the golf course yesterday.  Take away that 3 footer on 18, the tee ball in the water and the breakfast ball out of bounds and I'm right there!!!!

Fri, 02/14/2014 - 15:15 | Link to Comment grekko
grekko's picture

Should be well over $100

Fri, 02/14/2014 - 14:22 | Link to Comment e_u_r_o
e_u_r_o's picture

finally some action!

Fri, 02/14/2014 - 14:23 | Link to Comment Jonas Parker
Jonas Parker's picture

Could it be that the banksters have finally lost control? Stay tuned...

Fri, 02/14/2014 - 14:28 | Link to Comment Johnny Cocknballs
Johnny Cocknballs's picture

No.  Just a little bait...  then the price will drop again...

Fri, 02/14/2014 - 15:22 | Link to Comment bluskyes
bluskyes's picture

Yup, as soon as the CME Group raises margin requirements.

Fri, 02/14/2014 - 15:12 | Link to Comment grekko
grekko's picture

They are controlling the rise.  Bet on it.  It just isn't "in-your-face" like all the others of the past few years.

 

Fri, 02/14/2014 - 14:23 | Link to Comment Flakmeister
Flakmeister's picture

Wake me up when it gets to 40 or so...

Fri, 02/14/2014 - 14:26 | Link to Comment Bay of Pigs
Bay of Pigs's picture

So, you're buying here then, right?

Stack it up bitchez...

Fri, 02/14/2014 - 15:13 | Link to Comment Flakmeister
Flakmeister's picture

I picked up 1,000 shares of SLW....

I know, not the answer that people want to hear, but I think that more upside is there, esp. given the premiums...

Watch RBY.... Possibly the finest undeveloped property in a politically safe country.... 4 million of so oz (IIRC) at 18 grams a tonne...

Fri, 02/14/2014 - 15:19 | Link to Comment bluskyes
bluskyes's picture

I have been waiting for 4 months to buy SLW. My bank has screwed up my pension transfer, and the funds remain un-available.

I'm glad I was able to pick up some NDM at $1.50

Fri, 02/14/2014 - 15:11 | Link to Comment grekko
grekko's picture

no way, I'm waiting for $150, and if it hits that price, I'm not selling at all because it'll be money again.

Fri, 02/14/2014 - 14:24 | Link to Comment fonzannoon
fonzannoon's picture

Al Huxley made this all possible. Alhuxley Shrugged

Fri, 02/14/2014 - 14:24 | Link to Comment bigrooster
bigrooster's picture

I bought 100oz of phz on Wednesday!  

Fri, 02/14/2014 - 14:26 | Link to Comment Dagny Taggart
Dagny Taggart's picture

I'm just astounded there is still phyzz available for us plebs. :-)

Fri, 02/14/2014 - 14:44 | Link to Comment NotApplicable
NotApplicable's picture

Nobody seems to care about "collectibles."

Walk into a coin store, and I bet you'll easily be able to tell the buyers from the sellers. Handful of older guys will be the only buyers, and everyone else will be there with junk metal in hand.

Fri, 02/14/2014 - 15:01 | Link to Comment fijisailor
fijisailor's picture

Not in my area.  the younger all buying and the older selling.

Fri, 02/14/2014 - 15:11 | Link to Comment grekko
grekko's picture

The dealers are on a waiting list.  If you buy today, I guarantee you it was from last months waiting list.

Fri, 02/14/2014 - 14:28 | Link to Comment fonzannoon
fonzannoon's picture

funny these damn dealers keep telling me they want $26 for an ASE. I keep explaining that the tee vee says $21...

Fri, 02/14/2014 - 14:33 | Link to Comment loveyajimbo
loveyajimbo's picture

Hope the silver shorts are CRUCIFIED... as in the devil scum at JPM...

Fri, 02/14/2014 - 14:41 | Link to Comment walküre
walküre's picture

If this is merely short covering, the rally won't go much longer. Nobody short silver would have gambled to see prices go much lower than $20. I suspect most shorts are covered and dumping into the rally. It's a paper game.

Fri, 02/14/2014 - 15:48 | Link to Comment swanpoint
swanpoint's picture

I want to believe this is short covering due to real buying.

Fri, 02/14/2014 - 14:33 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

picked up my 400 ounces from Mike Maloney's GoldSilver.com at the post office yesterday...

dude behind the counter had trouble lifting it...

the other brother behind the counter who kind of knows me asked what the hell could be so heavy in such a small box...i just smiled at him and said "auto parts"...

his facial expression was like" get the fuck outta here...."

KEEP STACKIN...............

Fri, 02/14/2014 - 14:37 | Link to Comment krispkritter
krispkritter's picture

 "boat anchor"...

Fri, 02/14/2014 - 14:53 | Link to Comment eclectic syncretist
eclectic syncretist's picture

I likes to mail-order lots of lead fishing weights.

Fri, 02/14/2014 - 15:08 | Link to Comment grekko
grekko's picture

I like to mail-order brides.  Good commodity after the crash.

Fri, 02/14/2014 - 15:01 | Link to Comment unrulian
unrulian's picture

i say the same thing about my Ammo purchases....the lady smiles and says "sure"

Fri, 02/14/2014 - 15:04 | Link to Comment NotApplicable
NotApplicable's picture

UPS folks really love delivering monster boxes.

Fishin' weights!

Fri, 02/14/2014 - 15:05 | Link to Comment superflex
superflex's picture

I would have gladly exclaimed whats in the box.

Let the sheeple know they are about to be fleeced.  I like the crazy looks I get because validation is SWEET.

Fri, 02/14/2014 - 15:11 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

you do know that postal workers have been known to steal  - right.....?

Fri, 02/14/2014 - 15:22 | Link to Comment superflex
superflex's picture

One.  Gold Silver/Ampex/Silvertowne/etc all insure their deliveries.

Two.  Once it's in my hands, good luck taking it.

I had UPS deliver a couple of 400 ounce purchases (<$10k) to my office.

The delivery man broke out the dolly for a 8" x 8" box.  Too funny.

Fri, 02/14/2014 - 15:34 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

i hear ya man...just sayin.

better kept to yourself...

know dudes who got jacked cause a postal worker found out what was in his shipments and farmed out the robbery to people on the outside...as shit gets more desperate so will the actions of others left behind...

better to be cautious and quiet.......my evangelical days on why everyone should have real money r far gone....

Fri, 02/14/2014 - 15:41 | Link to Comment superflex
superflex's picture

Good points.

I've had 3 deliveries to the office this year.  A few of my coworkers know whats in the box, but they all scoff and preach about their 401K making bank.

 

Fri, 02/14/2014 - 15:24 | Link to Comment Talleyrand
Talleyrand's picture

Plumbing supplies.

Fri, 02/14/2014 - 15:15 | Link to Comment bluskyes
bluskyes's picture

Should have told him depleted uranium.

 

Fri, 02/14/2014 - 15:21 | Link to Comment BidnessMan
BidnessMan's picture

Yeah the postman was not happy delivering several monster boxes of silver Eagles several years ago. Sure made the canoe tippy.

Fri, 02/14/2014 - 15:27 | Link to Comment disabledvet
disabledvet's picture

don't forget to use your EBT card for delivery.

Do NOT follow this link or you will be banned from the site!