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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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heard somewhere in lower Manhattan:
"We got a gold referrendum that needs to be quashed. Put some steam into it boys!"
Nice observation.
Silver can drop precipitously in the case of a major market (non-PM-related) event.
Here's data from 2008 (you recall what happened in 2008, no?)
London Fix July 15: 19.30
London Fix Aug. 15: 12.82
London Fix Sep. 17: 10.77
London Fix Oct. 24: 8.88
That Oct. 24 price was the absolute bottom. By May 29, 2009, the London Fix was 15.52.
Lots of fluctuations in that range, but I would be using the side door on the truck, presently, if at all. I used to be waiting until we hit $17, but now that we've broken through, a similar melt-down (no pun intended, but a good one, anyhow) could occur again. Would anyone be shocked if stocks went south in November? I think we've seen the top of the Dow and S&P for some time. The bear has to turn into a bull sooner, rather than later, unless the manipulation, lies, FUD and whatever else the central bankers want to throw at the global economy are really that powerful.
I think they are not. I'll be buying if silver goes below $15.50, backing up the truck at 10-12. OTOH, if silver begins to rise above 18.50, I'm likewise all in, because that signals the end of the regime of financialization.
One way or the other, I think five years from now, anybody who bought silver at any price between 2012 and 2015 will be rightly rewarded.
Need moar woar. Vaporize that silver.
There was no silver for sale at $8.88. Luxky to find any @ $12-14 then. Everyone was out or would not sell.
But Greenspan said....
this morning I think he said something about his ass hurting.
and his lips
... meanwhile in some southamerica hell hole EVEREST sized moutains are being crushed every hour to produce gargantuan quantities of the "rare" metal silver
With natural gas cost almost free forget the " how many dollars it costs to produce an ouce of silver" its more like OUCES per dollar
"Ya want zilber ? I've gahrit, how much do ya want?
Mint Sealed boxes of silver are $9,515.00.
$2.40 over spot, per.
Read somewhere on the ZH boards this week:
Is it wrong that i get aroused when fondling my stash of PMs?
If that's wrong, I don't want to be right.
I look at it this way: I'm not risking any of my dough in a bank, or with the Wall Street Syndicate.
ZIRP punishes people that save in the traditional way, so I say go totally old school and keep metals handy. It's money all over the world.
Who needs real shit when there is paper shit?
These days I do most of my shitting online.
When China has all the gold they can go fuck themselves. Or they can trade it for some corn.
Chineese dont buy products to consume, haven't you learned yet?
If they dont have enough corn they are very good at fasting
They buy TOOLS to dominate you ! to contol you ! to OWN you
They only buy buildings, land, companies, reall assets
Hey, new lows for all of the gold stock and gold stock etf's that I checked this morning. Sweet! What horrible businesses!
dup
Check your local CASH4GOLD guys. We have at least a dozen in my little burg. I can buy for $2 over spot. They may be happy to discount Ag for cah flow. Worth a look.
72-1
How low can you go? 8 FRNs anybody?
Turd will have the last laugh, Mr. Spaulding.
As will Ten Thousand Zhedgers
And a Meeelion Chinese
Holy flying fiat batman...I go away for an hour and come back to this?
Time for an update Tyler. I'm seeing 16.38 clownbux now.
Love this quote from "Rational Democracy."
". . buying useless farm land"
What A Maroon! - YouTube