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Silver, Copper Slammed As Commodities Crumble Into US Open
Catalyst, who needs catalyst...continued dollar strength post-FOMC is weighing on the whole commodity complex but copper and silver seem to suffering most...
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Time to trade some tbonds for precious.
Think they'll let it melt down days before the election? Going to be curious what things look like mid-next week
And I added some Ag today. Dollar cost averaging, bitchez.
remember the article about red kite? if that is the next amaranth and london whale, it will drag down all metals.
I'm going to wait until November 3rd. Soon after that is when all hell breaks loose, I'm pretty sure.
What is Nov 3?
Novorossiya elections?
Day before US elections. Beat the rush.
LOL...That only works in Chicago and Detroit. ;-)
Gold & Silver are currently on sale. BTFD bitchez!
Absolutely agree with the dollar cost averaging. Provided the dollar still has some value....
I'm still trying to figure out how they've gotten it this low. I mean they've printed trillions and caused prices to DROP?
Just does not compute.
selling debt bankster bucks into the futures market. works for the dow too. until the dollar dies, this is our reality
Did you put in worldwide print figures? And did you figure out what collapse in credit amounts?
M2 money base is just one leg. Important yes. But don't just use that to compute. Eventually yes, the reversion to normal ratios will happen.
Could say more (ahem derivatives) but just relax. Its all fake fiat.
Part of the trillions they print goes towards backstopping the paper ounces the other bucket shop prints. (Forced)Cash settlement anyone?
SoilMyselfRotten,
Spot on.
DavidC
SoilMyselfRotten,
Spot on.
DavidC
Indeed. Prediction: if Au finishes over $1200 and Ag over $17 tomorrow, then it is over for them, they'll be out of ammo. You'll never see $1100 and $16 again.
Nah. Watch this bear market run a little longer. Plenty of folks need to liquidate physical and financial assets as the economy goes to shit.
Look for a resuming rally from the 2nd quarter of 2015 onward, or maybe even later, as people begin to realize that .gov is going to strip them of any assets that aren't bolted down.
Edit: I for one will be BTFPD (buying the fucking phys dip.) Time-wise we are nearing (but not yet quite reaching) the bottom.
Agreed. Keep picking at the dips, but save the truck til the fed has justification to go zimbabwe. Later.
Yup, but don't forget to keep the truck well-fuelled and sparked up in your garage. Once the majority decides to take their trucks to their local bullion guy, it will be too late. Retail supply will already be gone.
Currently I am buying 30-40 ounces twice a month. I'm all excited because if it gets below 16 I'm going to start buying 100 ounce bars once a month. I don't have any yet so I really hope it gets pushed down there. I'm certainly not concerned about a sale when I'm still accumulating.
Even the maestro thinks it will go up;
Q: “Where will the price of gold be in 5 years?”
Greenspan: “Higher.”
Q: “How much?”
Greenspan: “Measurably.”
That is a huge spread between silver and gold.
72:6:1 right now GSR!!!! Gotta fucking love that. Trade in some of your cheap gold for bunch of free silver!!!
Let them knock silver down further...
The dry powder is ready and waiting and my truck is already in reverse! ;-)
And you guys think you can time this? Someone on this thread says premiums are already rising, so the price you pay is NOT going down from here.
I did say I was buying every time it dipped. But I do think this can run a lot further than people expect. Considering we are now moving into a recessionary period, don't expect it to take off immediately.
As for premiums, well.. people say a lot of stuff on here. Some of it is correct. Some of it is very wrong.
Hell. I have been wrong a fair bit too. My timing is generally terrible, so you know, take what I say with healthy skepticism. Being my sunny, optimistic self (/sarc) I am good at calling crashes and terrible at timing uptrends.
My dealer wouldn't sell generic rounds for less than $20. Said premiums going up but no problems getting a monster box at this point.
Do you know who his supplier(s) is/are? Could simply be variation based on geography, or based on a profiteering supplier.
Could be the dealer trying to sell more in bulk too. Offloading stock at the highest prices possible.
TMG's premiums have been holding at 99 cents for quite a while. Some of their specials are at 79 cents.
APMEX will cuurently buy your 2014 Silver American Eagle 1 OZ for $2 over spot, and sell you one for $4 over spot. It was $3 over spot for the sell, about 3 months ago, when the spot price was above $18.
Suggesting people are liquidating PM assets at an increasing rate. Which is fine. Let the sheep get fleeced if they wish. I'll hold mine until sov. debt collapses. Stocks will rocket, and then there is no place left for the artificial liquidity to go to avoid a crash but into other markets.
And given the small market caps of PMs relative to other places, it will get interesting.
yeah, in traumatic experiences, time does seem to slow down a bit.
You might want to check Tyler's post above.
/GC is going to capitulate today. The move in the /DX is from the Dems trying to push oil down before the election... fucking market manipulating bathhouse barry. After the midterm the dollar will fall.
You may be right about GC..let's see what happens.
Doubt it about the dollar falling. It now looks like the cleanest bleeched shirt.
Would like to hear you reasons though.
http://www.forbes.com/sites/kitconews/2014/10/22/first-poll-shows-yes-si...
Backing truck up slowly.
Wy wife put a boot on the truck. Smart chick.
Nah, she sounds hysterical bro.
FUCK YOU FEDERAL RESERVE.
The Fed has won.
Was it over when the money-changers bombed Pearl Harbor?
I thought that was Germany?
OK, that ones a bit tired. Here's a new one...
When Geranimo jumps out of an airplane does he shout "ME!"?
Oh andbtw. I'm going to strangle my prudential agent next time I see him...grrr
I think anyone jumping out of anything should now yell "Baumgartner!!!" Politically correct.
twas only the beginning.
...a lot of toxic waste. Rates are flat line. Patient dead and needs to be put in a deep trench labelled bio hazard
NY Fed is draining dollars because DXY is exploding higher.
There is a margin call under way and panic selling will resume soon, unless NY Fed is told to reverse the drainage.
Dear Wall St, Dear Federal Reserve,
Keep it up keeping it down. China thanks you. It's all ducky.
Sincerely,
Gov.Cn
It Should be FIAT money hurtning not the other way around
You must have bought at the high.
Yeah, and at the low and the mid range and...
... just use it as a long-term insurance vehicle. or just saving for a rainy day
Pushing Silver below production costs is brilliant for stackers! GO FED GO!
Real stuff has value, fiatscos? No so much.
production costs dropping
nope, only go up and up
check oil
and caterpillar sales
Math still doesn't work. Silver producers are starting to hoard the metal at these prices. Some are even cutting back production.
Mining companies in the Silver valley are not selling at these prices period.
@himaroid : The only way for miners to drop production costs is to mine only their richest materials and close down everything else. This has been discussed in length before with a problem that very little high grade material is left. Most of the high grade and easy to get stuff was gone 50 and 100 years ago. So they are basically scraping the bottom of the bucket right now to remain profitable. Just like oil where most of the easy shallow oil is gone and now they're drilling in deeper and depper waters in more remote areas. Same thing is happening to the miners expect their prices keep falling like a rock. I don't know how this ends but something tells me it ends badly.
It took two weeks to cut thru 17 to hit 16. Looking for a fast run down to 15's.
Bought more rolls this week and premium already going higher.
shhh! I'm trying to re-fill in the mid fifteens myself.
Has anyone seen Turd or that moron T.Mosley, SilverSurfer, ...... they cost a lot of doomers money.
I told everyone sell as the silver bubble swelled past $45 & the three bears had more heat than the kardashians .....
Monkeyhammered
Define 'money'
U.S. Dollars. Like what Turd trades for snake oil, he's not charging gold for 12 months of access ?
Or U.S. Dollars like Turd used when he opened the ice cream shop as he opened the depression gold / silver blog .... lol' They fucking dropped ever since. His napkin calls have been brutal ....
The USD is NOT money, but a currency. There is a difference dumbass.
Wish I could have heard from you before I heard of Porter Stansberry and Doug Casey.
I could visualize both of them beaten to death.....
Taking advice from the comment section is about as stupid as one could get,
Laying blame on those who give advice is second on the idiot list.
Congrats on being a fucking idiot.
Currency isn't money. I have said for YEARS that silver would go to zero dollars. Thing is, you can't be sure that you can get any at that price, so better to buy now and cost average, because the dollar price doesn't matter. It's the preservation of capital after the dollar begins its terminal decline that matters.
Also note that I predicted that the trolls would come out of the woodwork again to declare victory as this happened. Right again.
I wonder if you can explain to us exactly WHY paper silver started to decline so strongly after QE3 started? They were printing money, driving up mining costs. Demand hasn't decreased. Supply and demand stopped working? Or did it go down because some very powerful people WANTED it down (and stocks up), at any cost?
You think there is a bubble in stocks? Bonds?
You FUCKING liar ......
You said BUY, BUY , BUY & predicted $70.00 plus, a blow off fucking top as those bears were singing sweet nothings in those doomers ears .... A silver SHORTAGE , all the b.s about miners and the great dollar drop you pin head ....
& I called your ass out then as david fucking corresh the 7th day adventest doomer cult leader in those days , BOY, got that BOY you had your ass handed to said BOY like a clown. Now you show up ???? You cost so many so much with your silver bullshit as it raced passed $40.00. Your big fucking mouth was in every silver thread spilling forth doomer diarrhea ... LOL'
See, it's funny, because you seem to have confused all of the silver bulls and made an amalgamation in your mind.
When it was exploding, I was commenting on the ridiculousness of the explosion, but the hatred you and others bore in their hearts for the truth and those who speak it warped your mind then as it does now.
I advised then, as I do now, to dollar cost average, because when it breaks down, it will be very, very fast, and you won't be able to get any.
Stay angry, friend.
EDIT: And I also notice that you failed to answer any of my questions, preferring to foam at the mouth like a dog :)
Or your brutal calls on JPM bringing down the house and sending silver to da' moon ..... another brutal thesis ....
buying silver in between classes ..... LOL' ..... those b the daze of the silver wacko fest. Doomers wandering about like world war z inside a massive bubble ...
Any body who listened (and bought) Gold and Silver on the advice of Glen Beck et al has had their lunch handed to them.
Quick! somebody get Kyle Bass on the blower
"on the blower"
That's funny. Haven't heard that one in a while.
the Fed will hit the panic button as soon as DXY closes in on 90. don't be surprised when an "unscheduled" FOMC meeting pops up in November.
Tired of hearing people saying this is great news. Back up the truck.
What's your time frame and why are you buying are the questions that need to be asked. If your time frame is next week, then this is bad news, but if you're looking twenty years out then these beat downs are an opportunity.
I have no time frame. The good news....but I went all in..The bad news....So need it to go to $100 to buy more.
On the big drop 2 years ago. Real world Scenario has played out even more than I imagined and yet price drops. And drops. I didn't go all in so my investment/insurance would go down, especially when most economic and geo political things get worse and worse ...
Tried to be honest and smart this time. Not looking like the right move.
Try this scenario. Trillions printed did no good. Qe trapped in banks and bonds.
What's next? Fiscal stimulus.Remember those nifty checks from GWB? Yeah, what if they were 10x?
A determined government can ALWAYS create inflation. And always have. Its not like its a big secret or anything. First you gotta take care of 'your base'.
So, stay strong and stay long...and enjoy days like today for what they are.
true. a determined government can, for example, fix prices. works like a charm. Nixon played that fiddle very well
And Diocletian. Don't forget about him.
ok, fixing prices while persecuting Christians works even better
the fat lady (Yellen) has not sung yet
Another buck and silver is to the point where a person needs to back up the truck.
Wish granted. You have two left.
Funny, suddenly my Hedge ads are all from companies trying to sell me silver.
I'll only charge you $5 bucks an ounce to bury it back in the ground 4 ya
I'll sell you the shovel.
Made in China
Same same but different.
Burying your PMs in the back yard sounds like a shovel-ready project you can believe in.
I'll test this ad thingy and get back to you. Here Goes
ASIAN GODDESS MILLIONAIRE...
When good is bad, and bad is good, beware.
Manipulated markets never make sense. When does silver production decline due to low prices? How many miners will fail?
Soon they will be paying you to take silver off their hands even as world debt skyrockets leading to inevitable defaults of sovereign bonds, the gold-standard of investments.
Prices are falling because demand is falling and the USD is king. Same reason for copper and other commodities.
"Prices" are falling because the PM market is the MOST manipulated of all. "Demand is falling....". Are you paid to say this? China, Russia, and India are buying all they can. Mint sales around the world are at ATHs. Dollar is king until the Chinese unleash their gold-backed currency.
Might as well smash your head on the pavement rather than arguing with that shill
Bonds are "the gold standard of investments." LOL I guess that makes Chevrolet the Rolls Royce of automobiles.
Silver is suffering the most? If you wish to compare ib paper terms yes but not according to ebay.co.uk. The physical price is totally detached. Hardly any sellers. Gold krugers are hovering around 1000 quid, 2010 was about 5% over spot today we are talking 25%.IF YOU WANT YOUR PAPER YOU CAN HAVE YOUR PAPER!
Had gold and silver in Baltimore, Jack
Sold out in O-12 and I never went back...
[/hungry heart]
I don't see the big deal..Silver and Gold are just metals which have no real use outside of jewellry and that's mainly due to tradition.
the truth is that silver is basically a speculators market and the funny thing is that it should have gone to 5 dollars after the photo industry died but instead it went to 20
the real, jard, intrinsic value of silver is aorund 2-4 dollars an oz and thar of gold about 150-200 an oz
this is the bare truth, that people do not wish to realize, the truth that speculation fuels the precious market prices and not thier intrinsic value.
intrinsic value.
What the fuck is that? What is the intrinsic value of AMZN or a shitty shack in Palo Alto? Pricing has gone the way of the dinosaur.
Everthing is fucked up from a price discovery POV including PMs.
AMZN is a combination of applied technology, applied logistics and powerful symbolism, theres value in that and if you don't see it you can become the next stock market guru and tell everyone not to touch technology stocks.
So, tell me then...what is the intrinsic value of AMZN?
The price of a shitty shack in Palo Alto is a combination of proximity to the tech sector and a locale favored by cash buyers. There is value in that and if you don't see it you can become the next real estate guru and tell everyone not to touch real estate.
Sheeeiiiiittt.....It only costs like, $8 to extract AMZN from the ground....(modern reference)
Gold is not backed by anything:
http://www.youtube.com/watch?v=ZLL2r3hXmjA
It's not really about the price of Silver or Gold, it's about the value of the dollar..
rationaldemocracy, why don't you tell the Chinese, Indians and the Russians that. I bet they'd be happy to educate you. And, what's the intrinsic value of the Greenback?
The intrinsic value of the greenback is such that if I offered you 1 million greenbacks or 100 ounces of Gold you'd take the greenbacks every time.
I hope you will understand not to open you mouth next time and think a little.
Your math is fucked. Of course, everybody would take the greenbacks.
Your question should be 1200 greenbacks or so and 1 ounce of gold.
Shto?
you are funny dumb goat
The intrinsic value of the greenback is such that if I offered you 1 million greenbacks or 100 ounces of Gold...
Not so. As I teach 5th and 6th graders, there are 3 basic "values" in our monetary, (and for that matter, any relationship involving trust), system; intrinsic, face and numismatic / collectibility. "Every time" is a dead give away you are confusing the facts. When a 5% change occurs rapidly in valuation ratios, something's afoot.
Currently, I'm fighting hard the urge to add to my own personal Bunker Hunt memorial fund. A few more circa 1980 Sunshine Mining rounds might be in order.
I do have a few greenbacks. I soak them in vasoline, they make great firestarter.
Just be careful when considering other uses. Some things can clog a septic tank lines something fierce.
What is the intrinsic value of government issued paper promises? I promise that this piece of paper will not continue to hold value into the future. WTF bro?
who says that value must be futureproof? food grown by farmers has more value than all your gold and silver combined but it only has a shelf life of a few days or years depending on how it's preserved.
The point is, you people have a value template thats based around gold and silver, a value template thats so outdated that 19th century economists would find it barbaric and you don't want anyone spoiling the party and telling you otherwise, well here I am telling it how it is and you should be and adult and think about it, it may be better for your bottom line and that of your families.
Value in a monetary transaction must be future proof otherwise it is not money. Totally retarded first sentence, with that I could not be bothered to read such moronic drivel. ...
Gold has held its value for 5000 year and still does - keep your toilet paper
Let me help. Define money ..."3. Store of value"
For how long? Will bushels of wheat work? No, too short.
Seashells OK but to easy to add to the base (see 'fiat')
Unobtanium... Too rare.
Gold silver nickels other metals. Not perfect but beats pretty much everything else when you lookat the complete definition.
but we have technology, we live in the 21st century, we have digital currancies, encyrption we can do all that on computers now we don't need to carry around useless pieces of metal when we go to the store
Look I am not going to argue with a bunch of people who thought that Ron Paul was a good candidate to vote for so I may just as well give up and tell you to go F yourself all of you are beyond help
Bitcoin litecoin maxcoin shitcoin... see fiat!
Touche to us...you have a broken nose and a further multiple fractue to your wrist. Take your own advice and stay out of fight club. $ilver Bitchez
keep digging...
We live in a world with a financial system which is ready to self destruct at any time. The 21st century could very well run by cave people before this is all over with. Look at the history of fiat currencies and see what you find out for yourself. How much of what you see on your computer is pure garbage? Be prepared to add your digital fiat to that reality.
Buy moar stawks dude!
P.S. maybe you should stick to CNBC where your fiat currency plugging fasict comments are welcome.
It is true that paper, metals, art, etc. is all just a belief system.
When a people stops believing 'X' is as valuable as it once was the bottom falls out on 'X'.
No matter what the 'valued' items are, it is all based on belief, Tulip bulbs come to mind.
I happen to believe that the current market value is a huge bubble and its perceived value will collapse in a big, fat, wet, snap, crackle, pop.
Silver and Gold.
but you don't get it as well, when the collapse happens you can sit on your farm land counting your silver coins but I will be making deals and taking advantage of the new, untapped markets emerging from the chaos.
That's what none of you people get, your whole M.O everything from collecting precious metals to buying useless farm land is all just so stupid and short sighted.
Useless farmland? Where do you think the food you eat in your ivory tower comes from?
After the collapse you won't have any real world skills, nor will you have real money. You won't be able to feed yourself or your family so You will gladly sell yourself into slavery just for a bit of food.
And what will you be holding for using to take advantage of your new dreamed untapped markets in real?
words?
Well if you have, say five years worth of food stocked in ya store room, then you might as well add metals. Like gold, silver, brass and lead, toss a little copper in and you have a party.
you don't know what you're talking about. you continue to value gold (as you speak) in dollars, thus you are confusing price with value. In real terms (exchange), PMs essentially hold their value. Look, I'm just going to cut to the chase. There are only two states of the world you will want to evaluate where the exchange value of gold remains the same: (1) gold at $5,000, or, gold at $500. There is no right or worng answer here - its merely a mater of preference of which state of the world you would want to live in. I would chose deflation since under these circumstances fiat actually retains some value as a result of stewardship of the currency - you know - kinda like the Volker FED. The former: seems to me to be more about chaos. Point is, I amn no better or worser off w.r.t the value of theholdings that I might have. 1 oz of gold will still fetch the same exchange value as it did at $1900. I will however concede to you that on its way down (or up), that that relationship is sort of arbitraged until the general price level catches up to (or down to) the price of the metal.
Its insurance against two states of the world that I am not a big fan of - for my family or my children or my neighbor. Its a holding that represents some diversification that constitutes an effort to protect myself from insane monetary policy. Just like my guns, farmland, et al non bank investments. I am in the ponzi too - but i am cognizant of its composition and its ilk. If and when interest rates EVER turn around, then i take on a different perspective. Until then.........
The FED can change what things look like, but, the FED can never change what things are. (James Grant, 2013) This is all I have for you.
You forgot about all the retarded governments around the world forcing fresh printed currency down the throats of solar manufacturers. Solar panels have quite a bit of silver in them (in the wiring).
And according to your logic, gold should be worth less than silver, as there is practically no industrial demand for it at all.
But of course, you are just pretending to be retarded for fun and profit, so I guess we can let that one slip.
Ok, I'll give you a five dollar bill and you go see if you can dig up some silver for me.
The FED's primary dealer banks are selling paper gold certificates en mass to artificially keep the price of gold down. The FED hates gold. They want everyone in the stock market. That's their ultimate plan.
You are really stupid to buy paper gold certificates.
Selling paper gold certificates should be illegal.
I'm buying more Ag for my grandkids, which I don't have yet....
YA WANT SILVER ?
Here in mexico we have EVEREST sized mountains everywhere we can start crushing for a few bucks to satisfy your need for the stuff
Just tell me how much you want and I'll roll down the dozers
A billion ouces ? a TRILION ? No prob ! Delivery next week !
useless talkings
THANK YOU SIR, MAY I HAVE ANOTHER!?!
Lol. this is alice in wonderland. With the Chinese grabbing almost all of the world's yearly gold production, prices are still falling. It is the greatest joke in the world. Whoever has an eye, let him see.
https://www.bullionstar.com/blog/koos-jansen/sge-chairman-2013-chinese-g...
http://www.tfmetalsreport.com/blog/6197/guest-post-confirmation-pboc-doe...
The fact the chineese are buying train loads of gold is what made it fall just a few percent
look at silver for the reality check
The fact is that miners are producing GARGANTUAN quantities of those "rare" metals
HOW MUCH DO YOU WANT ? (psssst dont forget it is "rare" wink wink)
Going at the this rate, more silver miners will either go bust or stop production. Don't worry, we have more SLV to cover the black hole.
Good. Hopefully it craters by the end of the year and daddy will be driving his silverado filled with Silver-Raw-Dough!
Looks like more turds have double down with their debts.
Yes and when it turns around, things will be much better with abit of silver
Exactly what Mad Max was thinking in the wasteland ... hmmm.. mabbe if i had some silver i could buy some gaaaaazzzoline ... ...
errr... pardon me Mr psycho mohawk, can i purchase a couple gallons of gas with this silver... WHY certainly my friend, great to do biz with ya ching ching
you see... you just have to have vision !!!
ps... a little silver can't hurt ... wink wink
I had a few friends from the WWII generation. They said buy silver it will save you when this farce crashes. The smartest of the bunch also told me that when the price of PMs get cheap watch out. Something bad is happening behind the scenes. Buy with both hands.
Monoply money is still monoply money. Taking a week off to retool the printing presses does not make the dollar, Treasury's or other paper (gold/silver stocks) good investments. Remember $ 100 Trillion dollars in global debt vs. $62 Trillion in global GDP. Oh, yeah don't forget the $1.4 QUADRILLION in Derivates. (I need to start using scientific notation.) Tangible assets are and will always be tangible assets. Land produces the food we eat, the farm animals we raise. The concrete metropolis's absorb heat and produce a lot of hot air. Sort of like a crematorium, if you get my drift.
When I do buy again it will be the 1oz Canadian $5 Maples.
If it goes that low at least the face value will save me from having my ass totally handed to me again.
If big money makes an investment decision, they'll execute whenever it suits them. The market doesn't always move in some schizophrenic news-driven fashion.
We swears on...the precious!
I would like to think that at this price delivery default would be approaching sooner rather than later. Maybe it's just wishful thinking.