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Silver Crushed On Heavy Volume As WTI Crude Slides Back Below $52
It appears the overenight exuberance at the possibility of a Grexit is fading fast... Silver - already weak overnight - was suddenly monkey-hammered lower on massive volume... WTI is down almost $2 from intrday highs, testing towards $51.50 on heavy volume.
*SILVER TRADING MORE THAN DOUBLES VS 100-DAY AVG FOR THIS TIME
Silver absolutely crushed...
And crude sliding too...
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Everything's fixed. Oil's gonna be at 25 cents a gallon in fiat like when I was a kid.
Romper Room and Captain Kangaroo.
I can see Knucks and Banzai and Coggy...
DaddyO
gold is getting hammered, too! It is all fixed
Hey WTF if they wanna give me a discount on silver then who am I to complain.....These Ponzi Pumping Pricks are insane if they think I'm not buyin'
Correct. Check out the Live Chart for silver: http://www.pmbull.com/silver-price/
Let's see how long this particular "crushi" (on the heels of a much bigger run higher) actually lasts.
Gold is on sale too. Live Gold: http://www.pmbull.com/gold-price/
This looks like - no: this is - forced liquidation of underwater longs. Plain and simple.
This week is Chinese New Year. The owners of the casino like this period very much to beat unsuspecting traders to pulp. Easy money for the banksters who run the show.
I am astonished there are enough suckers left who believe the can win against the owner of the house.
Panic on the streets of London.
I never have to change the oil and tune up my Gold.
I never have to wash sand and paint it or pull the weeds.
It requires no taxation or dinner and a movie.
When I grab my flintlock and an eye patch, I get a woody holding my Gold.
And
if you tap her just right, she makes this beautiful ring.....
Gold Bitchez....I pick up pennies
KING DOLLAR HEAR ME ROAR
Operation Chokepoint:
http://financialsurvivalnetwork.com/2015/02/silver-gold-dealers-to-be-shut-down-update-on-operation-chokepoint-mike-maloney/
A tsunami of global demand is coming.
would love a 15 handle in silver today or by the end of the week. Bring it, bitchez. Keep fucking with that paper while we continue to take real phyzz PM's for dirt cheap off the market FOREVER.
~"...testing towards $51.50 on heavy volume."~
"I tested 5150 on heavy volume of shrooms a few years back but I had a fuctiional attorney. I've been good ever since, your honor."
Chokepoint is going to go down in flames the moment it touches judicial review, as not even the bought judges can come up with a viable defense against shutting down legal businesses. As the banks themselves are protesting against chokepoint, you know it's doomed. It will go down on a long list of illegal moves by the administration, joining today's ruling on the the attempt to subvert immigration law.
Also, in case you missed it, the FDIC sent out a letter in late January pretty much conceding that chokepoint is dead.
I'm sure they'll try to sneak something by, but they're being watched by multiple federal and private entities now.
Some girls are bigger than others.
Much Bigger!
or small...
There's always someone somewhere with a big nose who knows.
The fact that the central banks may be wrong, and NOT get their way with Greece, is a a totally foreign concept to the "traders" or TPTB.
hammers are fun to play with. pound that fucker all the way down. cant have any high nails now, can we? wow, a wiff of defaltion, just luv the smell of defalting assets.
so enjoyable with a cup of jave and an american spirit. to die for, cough, cough...
waiting patiently for the "great down draft", when the shit gets real and everything of tangible value gets liquidated as margin. patience you all grasshoppers...
everything right now is forplay to the main event. fiat vs tangible assets.
that will be the chance of a lifetyme to get back what they stole. patience.
way to soon to even quarte the market of redemption(all in phyz).
Agreed. Most people think of gold and silver as investment - wrong, it is insurance, a store of wealth. With the havoc that is coming if I can maintain a decent lifestyle with a red monster box and two green monster boxes. I did good.
I see gold and silver as savings vehicles. I try to save as much as possible and have been doing so for over thirty years now. It has worked out pretty good though I am getting impatient for the move to the next level for gold. I guarantee it will be a shocker for most of those who attaked gold (and silver) in the past.
Right on kliguy38, think I'll make the call, now.
I'd back up the truck, if I had any fiat.
Only two things that make a man an absolute horse's ass - Trading this market, and/or believeing it has a shred of integrity.
Not one asset class is without manipulation...Continually!
not to mention that the BDI is setting new all time lows
516
Sweet Jayzuss, that's what scares me the most. That's one index they can't fudge as it tanks. As a bellweather of the world economy the BDI is close to #1. It's the looking-glass of all the other financial ruin happening. Everything ripples from its center.
Rail freight indices are another, I just don't have a link to a good, free site for them anymore.
Take the seat belts out of the cars, use them on your wives. It's THROWBACK time!
50 Shades. Haven't seen the flick, or read the book, but am I to understand they like getting slapped around?
"Oil's gonna be at 25 cents a gallon in fiat like when I was a kid."
Crude was never 25 cents a gallon....gasoline, however......I remember in '66 riding my bike to get gas for our lawn mower...19 cents a gallon from Terrible Herbst.
It was cheap, but it had chunks of still-crawling dinosaur that would gum up any engine in a heart beat....ahhhh, good times. [sigh]
Go back a few more years and then recall that the currency consisted of Silver Certificates - exchangeable for real silver - and the coins like dimes, quarters and half dollars contained silver. And silver dollars were still available in banks. So-called fiat in 1964 was far different than fiat nowadays.
chunks of still-crawling dinosaur that would gum up any engine...
nah, that was that other heavy metal, lead. It kept the tappets from pinging. White / unleaded gas was what you burned in your camp stove and sold for 3.frn a gallon.
Rigged or not, its really become the norm to expect these slam downs...BTFD!
Rigged or not, its really become the norm to expect these slam downs...BTFD!
broadly on track
Gold
https://www.tradingview.com/x/aRUMAKz6/
Silver
https://www.tradingview.com/x/yQD9yuXq/
Looks like someone got a peek at the builders sentiment.
wtf do gold and silver have to do with builders' sentiment?
but then again why should anything have a logical justification in funny money lala land?
Its about the news not the metal. Wipe the sleep out of you're eyes..
Builders sentiment, it's cold out, sun is in your eyes...you pick the excuse
Lots of work. Just hard getting paid. There are ten assholes standing behind you, ready to get punked, if you put your foot down. And don't get me started on how the illegals have fucked up the tradecraft paradigm.
OT:: http://news.coinupdate.com/save-act-seeks-to-prohibit-non-cost-effective...
End of US Mint issued bullion?
Have you read the article? It talks about fiat dollar cents, not bullion.
I did, in its entirety. The wording is so loose that it may inadvertently cover bullion. $1 ASE certainly costs more to mint than FV.
Might be time to order a pallet of nickels. Of course the mint and banks will list you as a turrorist for doing such a thing.
For those banks that are stacking oil offshore. Gonna need a bigger boat.
Look on the bright side. Filling up all those PANAMAXes with crude out at sea might finally cause the ocean levels to rise enough so that Al Gores doomsday climate change predictions might finally come true.
It would appear that gold and I took a dump at the same time.
Looks like deflation to me... To be followed by high inflation next year.
Just wait for the new 3-year low and start stacking.
Nobody likes to hear the word "deflation" or lower prices for gold/silver. My clients who buy from me are happy however that I have been calling metals lower for some time.
Stronger dollar
Stock market breaking records
Lower commodity prices
Can't ignore price action.
When/If gold breaks $1,142 the low from last year, it's on its way down to break below $1,000 because that's where market makers will take it. I have been calling this for over a year and none of my indicators I follow have had me write my "all in" article just yet. Many thought gold and silver would take off last July (Edelson) and prices reversed to the Nov. lows. Many thought that was the low. We're only about $65 from that low. When/If gold breaks the $1,000 level, silver will be trading at $12.
No, I'm not in Harry Dent's camp of super deflation and no I'm not in Peter Schiff's camp of hyperinflation and a crashing dollar. Perhaps this makes me not in the Zerohedge camp either. I do like hanging out in Camp Doug Eberhardt though. I learned long ago to do my own research and not rely on others for my point of view.
Gold and Silver Current Thoughts 2-17-2015 Morning Update
http://buygoldandsilversafely.com/current-thoughts/gold-and-silver-curre...
The correlation between Gold and inflation/deflation, interest rates, bad news/good news, etc no longer exists. Today, the linkage is purely speculative and who is pulling the purse strings. China, Russia, and India are gobbling up physical production. Who is in control...no one knows. It's a mystery but then again.....its manipulation at its best.
B19, I can make the case via my indicators that the correlation does exist. Where we may disagree is on definition.
Here is my latest on the indicators I follow, which haven't let me down yet on direction. I originally wrote about (revealed some of them) in July of 2014. It's also perhaps a difference on how I interpret Austrian Economics versus the Peter Schiffs/Lew Rockwell's.
Indicators
http://buygoldandsilversafely.com/gold/2015-predictions-for-gold-and-sil...
Can't wait to see what Western Digital Corp, Seagate, Toshiba Corp, IBM, Micron Technology Inc and Samsung Electronics Co Ltd. do at the "Bell"...
I'm sure with everything else we are witnessing it will be the opposite of what should happen, but at this point it doesn't matter anymore!
Come on Georgy Schwartz you can't keep this up for too much longer old man?!!! The blue screen of death is already here thanks to everything you and your friends have done...
So push the "reset button" and take your chances towards seeing your next birthday!
Hacked hard drive firmware via NSA sponsored back door = BULLISH, Buy buy buy!!!
is Shanghai getting ready to double/triple price for Chinese New Year ?
If they do, I'll renew Jim Willie.
If not, the ET talk made me less likely to do so.
Time to back up the boat.
It's their Achilles heel. I'm surprised anyone is still surprised by this.
Physical silver is the stake in the hearts of the financial vampires
Physical silver is the bullet that slays the wall street werewolves
Silver For The People
Talking about WTF look at eurgld.
Long live the euro (???)
When the time comes, are the sheeple going to trust a piece of paper backed by the Fed, or a piece of silver?
the sheep will get sheared first before they ever trust silver or gold - way too late to pull them out of the matrix
Baaaah...Gold? Oh, like my jewelry? Baaaah....Silver? Uhhh, thats what earrings are made of...Baaaah, Bbaaaah. Precious metals? Isn't that the name of a band? Baaaah.....
Most of the sheep are in an intentional state of Ignor-ance. They don't know, and they don't want to know.
All the relevant information is out there. Many of us have passed it on to people who we know personally. It finally dawns on you that their Ignor-ance is intentional, so you move on to someone else.
Hard Assets - Yes. "For those with an ear."
After 40 years of the Laissez Faire we're on the cusp of a new Save and Invest economy. Being prudent as hell now and saving some dry powder over a few years can pay off very big.
"Waste not, want not." - Ben Franklin
I wish I could sell my silver at my local grocery store.
Nothing ever drops in price there!
CBs will take this to new levels of absurdity.
They'll counter any deflation with insane levels of printing until they get inflation. And plenty of it.
They cannot let price discovery occur.
Yogi - I disagree. They already did that. The money multiplier from debt is now pretty much zero. Deflation, the second part of boom/bust cycle now occurring. Hyperinflation all but guarantees a military coup, new elections and booting CB's out of America. They and connected politicos got away with the biggest skim in world history.
The police state is about retaining the loot and overtaxing the plebes with it to pay for basic services. That will pass too but one must get wise to avoid robbery until some sanity returns and the law applies equally. That only happens when the rich can no longer grow which we're at. Then they change the laws to encourage investment. The oligarchs eventually do need the plebes again.
looks like my tax refund is going to go further. Thank you Cartel...
Exactly what I was thinking. Keep it up, let's test those lows.
Silver's commodity classification and usage makes it more vulnerable than gold to the current and increasing deflationary pressures. Dollar goes higher for a little while longer and all of the usual effects from the cause are in play.
The problem is that the whole trade and its direction could do a 180 overnight based on a variety of possible scenarios. Hard to trade these short term events. Little guy needs to stay focused on the inevitable collapse that will eventually occur.
Due to deflationary pressures, I expect a lot of things other than food, energy, transportation, housing (rentals), and other necessities like electrical and plumbing to get a lot cheaper from here. Especially at the industrial level.
Peak debt.......in this world economy of debt.......means "peak" for a lot of things.
"Silver's commodity classification and usage makes it more vulnerable than gold to the current and increasing deflationary pressures"
Hogwash! It is not silver use as a commodity that weakens its price. That can only add to its price. It is silver's LACK of use a a monetary asset that causes this. The 750 million ounces mined every year has a value of 12 billion dollars at current prices. That is peanuts! It is price suppression plain and simple. Don't be fooled.
Silver For The People
I order to win, one does not have to do a thing but hold......regardless of where the price goes or is, at the moment.
Odds are in your favor, not the banks/casino.
Excellent, I'm going to fill the car with gas and head to the city where I'll visit the LCS and spend my paper on 100oz of shiny argentum.
When silver takes a dive, I have trouble buying physical silver. My favorite coin and jewlery dealers have either stopped selling on the down days or just left yesterday's higher prices in effect. Buying these dips is hard in my neighborhood. I wonder if this is unusual, or does this happen everywhere?
You need to find another dealer or place to buy your PM's. Once you develop a relationship with a reputable dealer, you should be able to place an order over the phone and then execute within a few days. A dealer who locks his prices on down days is a scumbag.
I've bought silver in two different parts of the US now. Haven't seen an LCS yet that didn't do that.
LCS's cannot handle a 7% down move in silver and stay 'on spot' - they simply do not turn over enough volume fast enough. If you what to shop on big down days then you have to go to a reputable on-line dealer. If the price stays down a few days, then you can go back to your LCS.
If you,re in UK, old sterling coins pre 1920, 10% above spot at Brighton saturday street market in the North Laines near the train station. half kilo bags calculated at closing price Friday night
Brent/WTI at 120%. Physical Brent and paper WTI. US scheme to bring down Russia via energy is backfiring. Physical is trumping paper bigtime. Paper control of markets is collapsing. All out derivative bomb about to go off.
So the fundamentals in an 800 million ounce per year industrial commodity used in 100s of thousands of products changed by 5% in seconds. Sounds not rigged.
Naw all the U.S. producers decided to hedge 10x their production for the next 12 months.....325,00,000 oz. so far today 41% of the worlds production for all of 2015 and its still early..... I'm sure the regulators are real busy checking all this out!
I've just had a thought.
Imagine you had a mate who didn't think they were fat but clearly were. In the beginning, they pass it off as a "seasonal thing", then they make bigger excuses ("Well, belt size 38 is statistically normal"), to the point where they are denying reality ("I don't care the if doctor says I'm obese! I'm still alive!").
Now, compare that to the financial markets. They started off ignoring stupid bets (buying stock in companies that have no earnings or profits), then started making bigger excuses (Property prices will always rise because of the money available!). Now where at the point where they are denying reality just to keep it going (Greece aren't going to exit, even though Greece and the EU have diametically opposed goals! China's property market is booming despite the ghost towns and credit bubble! etc).
It's the only way I can make sense of what is going on. They're doing everything except going on a diet (shedding malinvestments), taking the pain (doing exercise) and changing their eating habits (a gold and silver rich diet)....
Thoughts....?
Put a pile of smack in front of a junkie.
Then try to guess if he decides to go clean and sober,or party like its 1999.
It will take a lot for the derivatives to implode.
The banks like Citi, JPM and others were scared enough to get a taxpayer bailout of derivatives.
The big banks are well aware of a ticking dervative bomb that can go off at any time.
When all you have is a hammer, everything looks like a nail!
...I like that one.
Rube Goldberg.....calling Rube Goldberg....
Your machine is shaking violently, smoking, and appears that the ball needed to hit the next implement is skidding off the rails!
Its almost like the markets are being set up for some major SHTF....stock market pushed higher to cushion a fall, oil lower so a spike does not go as high, and same with precious metals.
i predicted in the greek thread yesterday that metals would get hit today for 3-4%. But that was based on the idea they'd be closer to some bullshit deal.
So imagine how hard the metals will get hit when they really do announce a bullshit deal, which won't be until the very last minute, which will be long after all the so called experts say 'this is the absolute deadline'.
So no need to rush out and buy now boys and girls. Pleanty of time to buy 5%-10% cheaper in a month or two, or three.
Believe your right Renov8, it is painful to watch the non sensical markets and the counterintuitive ways they move, but sooner than later, this "Theater of the Absurd" concludes.
This will be an unpopular message like those messages proclaiming an emerging bull market for the US dollar (FRN) -- which has only begun. But, technical analysis (chart), discredited for two decades, will eventually rule the day when the overlords pull the behind-the-scenes banking support/distortion of asset markets. When all the bubbles pop the personal economic devastation of many of the stackers will sincerely break my heart. I really hope this is wrong. God bless.
Here comes the camp train...choo-choo!
LOL...maples are now selling for almost $4 over spot...that's some price discovery right there...
You can pay $30 over spot for American Eagle gold coins via Apmex. For 1/10 ounce, you pay $175 over spot.
In the paper market: 25% chance silver closes with a gain after running the stops. 50% chance this is another margin raise demanded after the previous two did nothing. 25% chance it retraces half way on short covering. In the physical market: 100% chance sales are jumping.
It's not a market, it's a battlefield - currency war.
A question I have just been asked by a friend:-
Do I stack Silver or do I pay the mortgage off?
Any suggestions welcome please?
how will you pay the property taxes when and if our dollar goes down. I would buy silver then pay off mortgage
I agree. That's what I did.
Thank you for your responses.
In the UK, if you are out of work and have no savings, property tax (Council Tax), is paid for you via Housing Benefit (from Local Council) but how long that will continue is questionnable.
If you own your house, have no funds and need care, social care is arranged on your behalf and a legal charge is made against your property.
Genuine ownership of anything is not easy these days unless you can afford the use of lots of dummy Offshore Corporations/Companies to hide everything,
The Government tax and take whatever they desire.
If I was making a choice between using a lump sum to pay off a mortgage or buy silver, I would pay off the mortgage. I like silver and all. But mortgage free is a good place to be. There is always another train. Besides, who knows how long they can keep this nonsense ponzi going? That being said, I am 100% in the hyperinflation camp.
I would pay the mortgage down halfway and buy with the other half.
CommonCourtesy - Pay off the mortgage which saves paying interest then calculate how much interest per month saved and invest that in PM's. Plus owning that home provides a better sense of security.
I also save some in currency for my next decent used import car so I pay no interest there either. I think people buying a $40,000 GM with a $500 monthly payment are nuts.
Nothing says sell gold and silver like the death throws of a major currency.
Like the 1930's this is a long cycle of working off excess. How many years has the commodity bubble been going on, 15 years or so?
It is now correcting and that includes gold and silver which are commodities. I know the argument about it being money, frankly the only difference than any other commodity is it's a lot easier converting it to currency.
The world will revert back to the gold standard for forty years to restore trust and then go off it again for another forty. But paper and electronic currency are here to stay.
I do like one of the commentators that mentioned its a good way to save. Especially in the US where banks pay no interest (negative real interest rate).
To me my PM's are a ten year buy and hold and I don't expect silver to be at $50 in ten years either. Maybe $30. Saving this way also helps avoid capital gains. I think we'll see a little more bottoming of gold and silver but I don't try and time markets for perfection. I'm buying at these prices.
Silver $30 in ten years? LMFAO
MDB, s that you?
10 OZ bars of Sunshine delivered for $170 ea....thank you sir may I have another?
Despite the higher mark ups, I usually buy junk silver dimes on these big dip days. They will either become 'the coin of the realm' or they can be easily converted into whatever post-collapse fiat comes along. Got anoher $100 bag today.
I like Sunshine products because of their security feature. I opted for 500 1oz rounds because they were slightly cheaper than the 10 oz bars today.
Where?
Fortunately I started trading my FRN for 5.56 instead of silver. Had a very good weekend thanks to the JBTs, hell be upon them.
So TPTB are simultaneously pumping up the Stock Market ("Hey you schmuck - get in on this now before it goes higher!") while they short PMs?
BTFDYI;http://www.zerohedge.com/news/2015-01-29/janet-yellen-saves-day-stocks-s...