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Silver Is Soaring
Shortly before 10amET, amid USD strength, futures prices for Copper, Crude, and Silver suddenly started spiking higher...
Gold is also getting a lift...
Something is going on in the commodity markets...
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Time for CRIMEX to raise margin requirements?
Or cue the mystery dumper.
soaring
One way reporting like this will lead a lot of people to their doom.
WOW, it's a two day high.
Still lower than 3 days ago, 1 month ago, 1 year ago....
LOL
Soaring is $5 higher, pennys don't count.
It's moved collectively a few bucks in the last 48 hours, extremely volatile, and a lot of the phyz dealers are delayed / out of stock.. eagles still carrying a 30% premium to spot.
Nice misleading clickbait headline Tyler.
I checked kitco and silver is just barely over $14. Didn't your readership run up credit cards to buy silver at $40+ an ounce only 4 years ago?
Silver has had a 70% correction since that all time high in 2011 when all of these doomers were chanting $500 silver, get it now when its cheap. That was my "shoeshine boy" moment when trailer park patriots were telling me to buy silver with credit cards at all time highs. I knew it was time to get out. When silver goes to single digits, I might and I emphasize might give it another look.
Silver will be rigged indefinitely so its a fool's game and by the time the Crimex system breaks, Xers and boomers will either no longer be around or too old to care. As long as we have a jawbs mindset and an industrial age economic system propped up by 1s and 0s and held together with corporate and low income welfares, this silver rigging must continue.
Silver would be the canary in the coal mine back when capitalism actually worked when farmers and factory workers actually had a purpose. Today however capitalism is an 18th Century obsolete concept because the only "labor" left are service jobs that are on their way out and being replaced by robotics and eventually A.I. Silver must be suppressed to keep this antiquidated system to chug along, just long enough for the boomers to retire on unsustainale pensions and/or social security.
An earlier 2 hour rebound off of yesterday's new 6 year silver low, with commodities temporarily caught in the updraft of the now failing biggest short-covering stock rally in history, leaves me underwhelmed. See the monthly for the liklihood of single-digit Ag longer-term, and the weekly for the prospect of $13 silver within days. Stacking cash, to buy PMs lower later, is probably still working:
http://www.investing.com/commodities/silver-advanced-chart
.....
Hey Doc, It's not nice to spell out the truth so bluntly.
One of the hardest things is for a man to swallow his pride and admit he got fooled. Taken for a ride. Scammed.
It took me years to finally accept it. That all the doomer talk, all the forum posts, was all just a pump and dump scheme and I got suckered. Because I like to think I'm smart. But I got scammed out of a huge portion of my networth by dumping it into gold and silver and that's the bottom line. I'm no better than a Yahoo forum reader getting fooled by some kid and his chat bots to put money in a penny stock.
We all want to believe we can get rich. We all want to believe we are smarter than the next guy. And nobody wants to admit they're a chump ass sucker that got played.
Luckily I was young when ZeroHedge, the commenters, the article authors, and others (hello Silverdoctors) convinced me the sky was falling, the dollar was dying, and precious metals were the only thing that mattered. So "a huge portion of my net worth" is actually only about half of 1 year's net income, in terms of losses. I'm sure others lost everything. I'm sure others will die before they recover. I'm sure others are retired and can never recover. Not to mention the destroyed marriages, lost inheritences, loss of respect from ones family, friends, and colleagues. Because nobody wants to be a loser. How many gamblers have you met that will admit they've lost money in Atlantic City or Vegas? Because America is a nation of winners. Not chump ass suckers buying shiney metal that falls 70% against the dollar.
What's crazy is my grandfather was one of the guys with a big coin collection, and an abundance of silver. I was too young to understand at the time but no doubt he got suckered into this game during the silver boom-bust cycle of the 70's and 80's. And I was right there to be the chump in 2011. Guess I don't have enough GoldbergSilversteinMoneygrabber blood in my family line. Shoulda dumped my life savings into Facebook and quadrupled my money. Always bet on the tribe.
Pennies DO count when your trading in the billions. That is how it works nowadays......
Sorry, but silver is "soaring" when, and only when, it is no longer is in the claws of those that chronically manipulate it.
Not Dutti,
but if you are trading minute to minute to make a killing, you are way behind the times.
Nano second,... or very long, with at least a 20 minute or better 200 year historical background is a better long term strategy.
Yes, I have a long term strategy: I bought in February.... 1980 along with the Hunt Brothers at $50. I'm still hoping and waiting.
I sure hope you averaged down in the summer of 1993, when it touched 3.80 per ounce.
I bought a boat load, then lost it all when the boat sank, mysteriously
Yes, I averaged down. I found a lot of gold and silver when I went diving in those lakes with my metal search detector.
One or two ounces?
I have 5% of my income to save. Should I put it into a 401k or into physical silver? Pretty easy answer. Neither one will lead to 'my doom', either.
Really? That's retarded
The Crimex Monkeys must read ZeroHedge religiously...as soon as ZH mentioned silver it halted its move upwards and swiftly reverses.
If this is true, then please pose a silver positive article every hour!!! Same for gold. Then when we are all loaded up and stacked, let's start having a negative article every hour.
Just keep on stack'in and forgeddaboudit...
Sorry, less than $15 per ounce is NOT soaring
That is less than it costs to produce it!
What do you think the price will be when the rest of the world starts to divest in US Treasuries? Where would anyone put money these days? In the stock market? Bonds? Cash? I can't see any safe place to hide except PM. The whole Internet is screaming collapse. Not that I think we all will be eating from cans living in tents, but think about it. They punch the PM down. WHY? Will it last? Will they be overwhelmed? Is it possible? I think it is.
I was thinking about buying some this morning....its just way too oversold I thought....but I did not....decided I have enough...lol
Something is definitely going on today.
+1
No sh?# Sherlock.
Off a six-year low.
"Someday this bear market's gonna end."
A speedy recovery to 18, then a crash to 9 in a few weeks and a CONeX default with a bankholiday. On the reopen only cash for fizz and jumps into the triple digits on no bids ?
Silver has been hammered for so long that a 3.4% increase is only a pimple. Besides, it was hammered this week for options expiration yesterday at the Crimex.
So a small rise is par for the course.
Wake me up when silver crosses $40
hammered by citi no doubt
Right, wake me up when it gets to sixteen dollars an ounce.
It's just getting a breath of fresh air, before it does a deep sea dive in September.
Stay the course Tyler: We're almost there...
Silver premiums on silver eagles edged to 50% now, the highest ever seen since 2008.
If you are paying a 50% premium you are buying from the wrong dealer. I pay about $3.9 over spot per coin.
3.9/14.4= 37%. I think you are buying from the wrong dealer too.
Try Sdbullion.com next time.
LOL! Thanks cowdiddly. It's comments like these that I love the most.
Weel Im not being totally fair to him as Mr Jack off Lew has now removed the requirement that the mint hast to meet demand by law, and then the crooked fuck has delayed production while they sink the price. The Eagles are getting hard to come by, especially back years. Plus Eagles always bring a good premium.
Its times like these that the premiums get to dang high and you might as well wait to see if they can come down some. As your break even is up at 18-19.
This happened back when silver was drop kicked at $13 dollars down to 8 bucks several years back. It did not do buyers any good because you could not find any silver to buy at 8 bucks.
Right now the better buys would be low prem bars. JMHO
The govt. has destroyed all markets pricing mechanisms. and anytime one of them, like the stock mkt Monday. tries to correct they stick their fat ass in the way again Tuesday out of fear of what they have done. At this point they just need to get the hell out of ALL MARKETS including INt rates so they can just do their thing and get this behind us. Unless of course you like the idea of the govt telling you a tin cup should cost ten cents and ten cents only. Setting prices from above has been tried and never works. America is getting sick of yur shit.
Whoever is selling to you is ripping you off.
It depends on how many coins you buy of course.
You're getting raped.
$18.83
(+30.04 %)
www.comparesilverprices.com
Pillaged or plundered would be better word choices. They're often interchanged, but having your wealth raided is not the same as rape.
You must be an APMEX or EBay buyer.
Here, this may help ... https://comparesilverprices.com
My personal favorite is Gainesville Coins LlC in FL. Great pricing on silver, great customer service.
DirkDiggler11 quipped-
"My personal favorite is Gainesville Coins LlC in FL. Great pricing on silver, great customer service"
You must buy by mail.
My last experience there was pulling up to park.
Three Hillsborough Co. Sheriffs squad cars were in the lot marked Homeland Security.
Went in and they were out of stock of Silver Eagles and was told my over 3k order would only be filled if I left over 3k, in cash, w/ them and they'd get back to me.
I told employee that's not going to happen and turned around to leave only to see DHS agent scowling @ me.
Don't fault security being there-my other two LCD have private armed guards themselves. What ticked me off was DHS' dirty look @ me for trying to buy a legal product -being in the middle of my business.
As always, YMMV.
Just bought some more for every client....last week.....phz
FUCK THE FED
FUCK THE BANKS
FUCK THE GOVERNMENT
FUCK THE ASSHOLES THAT CALL GOLD AND SILVER "BARBAROUS RELICS"...
I MEAN....REALLY....FUCK YOU
and its gone....going back down..just someone checking his computer program
PUMPATHON ALGO IGNITION
DUMPOTRON ALGO REMISSION
Time for the Orange Crop Report to come out....
The split in Gold and Silver prices makes the MOST no sense , in all the no sense charts of the past 7 years. I just hope it means they have totally lost control of everything.
ROFL silver is currently at 14.7 yellenbux. Is this supposed to be a 2007 headline?
Still only underwater about 120% of what I bought most of it for.
Pardon me while I don't share all the excitement.
Yeah, Im gonna leave the sleepeez in my eyes.....
Yawn.....-zzzzzz-zz-zz-z-z-z---
What are you going to do with it, kill a werewolf. I own gold.
Why buy gold when the gold:silver ratio is 78:1? Over the past 5000 years that ratio has averaged about 14:1. Who knows why, except that that's also the ratio it is found in the earth.
But the bottom line is that right now silver is dirt cheap relative to gold. When precious metals take off... that's when the ratio will snap back to a normal level. And that happens because gold gets too expensive for the average person and they start thinking "Damn it... I should have bought some gold when I had the chance. Now it's too expensive. But wait... I can still get silver". It happens every time metals surge. This time around, silver should rise at least triple the rate gold will.
That's not speculation... that's just what happens, and for perfectly understandable reasons. Some argue that silver is just an industrial commodity. Bull shit... silver is money just as gold is money.
+1. Only caveat that gold is the money in extremis for the CBs. If they remonetize the debt gold might do a moonshot as now currencies are issued, and the masses don't have the time to get into silver. The gold holders then could bid up silver and get a double moonshot. My take is, get both.
+1. Agreed. I just prefer a much heavier weighting in silver for the reasons I noted, and am prepared to have to wait longer to get much greater gains. Get both? Sure, why not do that and end up in a very nice position.
Quite right. The fact that the ratio is 70 or 80 to 1 is so ludicrous that it alone should be indicative of the fact that this market is highly manipulated. Truth is that above ground stock of silver is actually less than gold. Add to that the enormous utility of silver (electric conductivity, reflective properties, anti-viral/anit-bacterial, photovoltaic, etc.) and the ratio should be more like 10:1 or 5:1. Virtually all silver that's ever been mined is gone. Virtually all gold that's ever been mined, still exists. The only argument I would make against having a lot of silver is that in quantity the stuff is heavy and bulky. Otherwise, yes buy as much as you can afford. Even if we don't live to see $100 or $500 oz. silver, I guarantee our kids will.
Yup, heard that a few times.
January 18, 1980. Silver market price: $49.45
Again on April 11th, $47.15.
Yup, from 1980, the "kids" now 35 years old are still telling their kids... It'll be over $100 soon...really....
C'mon if you're going to talk about silver at least be aware of history, and please, really---tell us why this time is different.
Pffffffft.... Why buy either?
Look at the trend.
Look at the world.
Yes, it'll turn, but not for quite a while. (Go ahead, pile on the minus's and then come back in a month).
Could be a life saver! Get some, just in case.
Not the references I wanted, but what the heck.
http://www.zerohedge.com/news/2014-02-01/market-cornered-jpmorgan-owns-o...
http://www.zerohedge.com/news/2015-06-29/jpm-just-cornered-commodity-der...
Because of the booming economy narrative der de dur.
It's been smashed so many times it has a head injury.
http://www.traumaticbraininjury.net/custom-made-mouthguards-may-help-pre...
Paper games up and down. The smell of bear meat could likely be a bull trap. SELL SELL SELL BUY BUY BUY SELL SELL SELL... ad absurdum. We will only know the true price of silver once the CONeX/LBMA paper ponzi defaults. Till then, happy stacking and trade these "markets" at your own peril. Good luck to all.
Maybe the CBs finally figured out that you can't have inflation without prices going up?
What is probably is, is a coordinated bashing of the USD which causes a repricing of all USD-based assets. BUT, even DXY is green. So who knows?
"I have a soaring headache."
Now that would be a more appropriate use of the word.
All I know is that even when e-minis do little pops higher, VIX is not getting hit very much. There is still more fear out there than one would expect from the biggest two-day pop in the market (since QE1). evah!
Remember, PM's are a hedge against sovereign debt, not inflation.
Chinese selling it (cause), PM's going higher (effect).
Inflation an irrelevant correlation.
Stashing the Pet Rock you get to allocate your own Barbarous Relic values. One man's mark to fantasy is another man's mark to reality. There ain't no mark to market on gold. Fuck paper. Fuck digital.
If you bid 2000fiats/oz for my modest stash of the real deal I wouldn't take it. No, not 5000fiats/oz. (USD/STG/EUR, what difference does it make?) You'd need to prise it from my cold, lifeless fingers.
read yesterday so many tweets that exactly the opposite is gonna happen ... today can't find any of those peeps ...
Silver is snoring !!! Just been like an infinite loop of the last 35 seconds of the rollercoaster ride....good for kids....wake me up when we do the first drop backwards!!!
What a joke, oil is up 9% and your headline is about silver soaring when it's up 3% after falling 10% the previous two days.
At least the good news is that the GOR is coming down which will make it easier for gold to rise. However, be warned if you are short oil and want gold to go higher, you won't get the latter without getting hurt on the former.
Headline correction:
Silver Is So A Ring
http://www.craftster.org/pictures/data/500/297933_13May12_Walking_Libert...
Funny stuff - soaring they are! After being crushed day after day after day...This is a buying opporutnity, a red-tag sale on most commodities including PMs and other critical consumables like copper, oil, etc. Regardless of a global slowdown, China can still develop its economy without the US and Western Europe - slower, yeah but it will happen regardless. The partnerships between China and the other BRICs as well as their new (and old) relationships in Africa and Indonesia - well, Asia generally means they can sustain themselves and grow without the west - and they are preparing for that. The west is a cancer to real growth and the Cinese know that, its purely about financialization of everything - basically make Wall Street richer absolutely FUCK everyone else - we get the crumbs. As most Zhers know, this is going to end badly and a relocation plan to somewhere independent of the west isn't a bad idea - I don't think that means Mexico or Canada which will die too.
Given that Silver is consumed and cannot be replaced with anything other than Gold for technology, which all technology requires Silver, it has a huge upside - in percentage terms much much more than Gold even if the fiats die. Silver is the best PM to own because it can be transactional as well as a store of wealth - Gold traditional isn't a transcational metal whereas Silver is. Couple that with the fact that it is being consumed on an increasing scale and recovery isn't practical until the value is somewhere around $1500/oz, at least with today's recovery technology, and Silver is likely to see incredible gains very quickly. This may take 10 more years of course but I think the fiats death will drive it much sooner than that.
The manipulation can't last forever, its on sale - that simple. China's consumption alone is great than what is produced and sold globally every year! That's incredible and their appetite is increasing along with Russia and India - both huge consumers, even with a dying Ruble. There is no doubt they are accumulating this to hedge against a fiat death and be in a position to come out with a new global currency that is backed by a basket of PMs and natural resources - oil, nat gas and even lumber. There isn't enough Gold on the planet to underwite a global currency in today's terms so either the terms change (which they will at least a little) or a new system is put in place with real backing for real confidence. This isn't a new idea of course, read Currency Wars from Jim Rickards - excellent read (or listen). A link:
http://www.amazon.com/Currency-Wars-Making-Global-Crisis/dp/1591845564/r...
By the end of the day Silver will likely be down again or at a minimum will give up most of its gains...(already has actually). I've been buying Silver for almost 30 years and have never sold a single oz, from $8/oz to $30/oz and everything in between. Given the real reality of Silver consumption - forget about currency BS, just pure supply and demand - Silver is the shit! and at <$15/oz its literally a steal. Everybody should be buying whatever amount they can afford - even a few oz's at a time is worth doing! I've been buying on the big dips for the last few years, before that (before outrageous manipulation) I just bought so much every month.
Do it, buy physical Silver and hide it somwhere because at some point it will be in high demand by everyone!
Silver has it's purpose but as of 10:26PST copper is up 3.7% and that is just stupid. What do people think that QE will result in everyone building ghost cities? Not this time. Or, maybe they think that the dollar will collapse.....
SILVER IS SOARING....
naaa...Its a Dead Crap Bounce
Those fucking criminals have banged silver down so they can settle low again (regular as clockwork, thank you for being so predictible).
They will probaly let it drift back up to the $15 handle now.
Metals are not going to make you bitchezs money today. It is a hedge, stop trying trying to value you it in investment dollars today. It is a safety valve. Treat it as such. Stack and wait.