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Gold & Silver Slammed Off Technical Levels
Amid relatively heavy volume, it appears 9ET was the appropriate time to dump paper gold and silver this morning...
This pushed gold back to test support at the 100-day moving average, and breaks silver off the 200-day moving average resistance.
Bounce or break?
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SSDD
SSRI
This recent volatility is why a system that gets more aggressive as the price drops is so important. If you are dollar cost averaging into an asset you feel is a good long term acquisition, psychologically a rapid drop can cause scars that can grind your acquisition to a halt due to natural human fear. On the other hand a system that tempers purchases as prices rises just when greed is trying to persuade you to buy more is also helpful.
Using a system like this will allow you to be more mentally prepared when prices drop, conservative when prices rise, and in a volatile market buy more metal at a lower price.
Amazing... Manipulation Before Your Eyes...
My sock drawer is fine.
Glad I got some before the premiums went to Pluto.
GSR has dropped 8 ounces in the last 5 weeks. 79.5:1 on August 26th to now 71.5:1.
That's a nice jump for silver even if it's all manipulated and criminal.
Heard the other day on Silver Doctor's that John Williams has crunched the numbers regarding the price of silver from 1980 compared to today's prices while figuring in all the Trillions in extra dollar debt world-wide now 35 years later.
Adjusted for inflation and all the money printing, John Williams estimates silver should be priced around 600 dollars an ounce today compared to the 50 dollar high back in 1980.
That means the price of silver today at nearly 16 bucks an ounce would be like 2 dollar silver back in 1980 terms when it was at the 50 dollar high.
Let's just say John is 75% wrong on that calculation, ay? Even though we should all know that John uses the proper numbers and calculations in everything else he posts on Shadow Stats.
But let's just say he's 75% off track with this.
That still puts silver at 200 bucks an ounce, folks. But I give John Williams a helluva lot more credit than ever publishing numbers that would be wrong by 75%, don't you???
I could see being off by max of 20% given that people could dispute certain ways of calculating world debt in dollars, derivatives, and all the other unknown Billions and Trillions out there floating around. It's impossible to tell what's really out there.
So let's say he's 20% off. That would still put silver at 480 bucks an ounce.
We all know for sure silver is worth waaaaaaaaaaaaaaaay more than just 15 or 16 bucks an ounce...that's for fucking sure.
We know that the paper market has blown things so out of proportion that gold is leveraged to nearly 300:1 paper to actual phyzz held in the Crimex vaults.
We know silver is leveraged at least 100:1 and probabaly now much higher.
I know that after the shit finally hits the fucking fan, no amount of paper shit dollars will separate me from my phyzz...I don't care if I get a wheel barrow filled with Trillion dollar bills. I ain't sellin'...would any of you???
But still...keep these numbers in mind.
To me, the main number is not the value in dollars unless someone put a gun to my head or some circumstance in an emergency came up where I absolutely had to sell some of my phyzz for dollars. I hope that never happens.
But what we need to do is stop counting the price per ounce and start counting how many ounces we have overall. That's the key.
How much land can I get for so many ounces of gold or silver, etc. etc.
So regardless of current prices or supply right now, just keep stackin' phyzz whenever and however much you can fit into your budget, folks.
Ag has clawed back ALL of the smackdown, now at $16. Get your shiny now, the system be falling apart.
Dear PTB,
Could we please slam the living hell out of either silver or gold on Friday? I'm ready to unload some federal reserve notes and I'd really appreciate your assistance in loading up at the best price possible. Thaaaaanks.
mhp
I'll be back soon, but I feel a sudden need to go SCUBA diving and verify that I have the same number of ounces now that I had last time I checked.
Can you Strava that for me?
even if it's all manipulated and criminal.
Are there 4,5 Silver oz/Gold oz above ground?
Conclusion:
"1.Silver is NOT scarcer than gold. If we use the consensus Gold-above-ground number of 166000 Tonnes and our number of 748000 Tonnes, then the ratio is 4.5 silver ounces above ground for every gold ounce above ground. For those that disagree with including silver jewelry and silverware in the silver total, please be reminded gold jewelry IS in the gold total."
But the supply of silver will probably run out sooner. For the simple reason most gold gets hoarded. Reguardless of if there is more or less when you take in consideration there is more demand for silver it is projected it will run out sooner. More Silver gets used up faster for industrial demand, so within the next 15 years silver could be used up.
http://www.visualcapitalist.com/forecast-when-well-run-out-of-each-metal/ This estimates silver will run out in aprox. 15yrs.
https://www.silverinstitute.org/site/supply-demand/ Now if you go here and see net balance the last 9 out of 10 years there has been a deficit which means it comes from reserves. This year they estimate a 57 million oz deficit and that needs to be updated. Its pretty clear silver is a good bet. Right this moment there is more silver than gold, but its going quick and it gets used.
I did a rough count not too long ago. It turned out that there is roughly 6 oz. of silver per head in the world. That is all the silver ever mined, incl. industrial. I mean everything.
Also, during the writings of Sun Tzu and the Art of War, at that time, 1000oz of silver could for a day maintain an army of 100.000 men, including weapons, logistics, food etc. That should put some perspective on what the value of silver is.
Besides, it looks to me as if they have hammered silver as low as they could. I doubt very much that the price can be pushed lower then $12-13 per ounce. And even if they manage it, the retail pf phys. will maintain its price through premiums.
If SHTF it really doesn't matter whether yoou have numismatic coins or not. Silver will be silver. If this manipulation continues then it is better to invest in at least semi-numismatic coins, as they actually increase in value.
The key question is if it works. If they attack and fail it's worse for them than letting it rise. The only reason prices stay low is there are many traders to work with the manipulators. The last few times they tried this they got hosed so the support system is failing.
Yellen and the Fed "Can't handle the truth"
SS Titanic
Yup have it live right here
https://www.tradingview.com/x/cQh0Zh4D/
https://www.tradingview.com/x/OoVFqSpv/
no news
Bizarro. My silver and gold are still shiny and weigh the same.
and the premiums are increasing also
To be expected after a large run-up. Looks like they're recovering off their lows fairly nicely now...
I haven't seen a multi-session run like that for silver in a very long time. There will be a time when we see silver moves in dollars, not cents.
-Argenta
must be the nazis in the US gov
The Nazis and Neocons are blowing each other.
Please dont slander the Nazis
Here we go again.
Anyone who thinks these paper prices, up or down, are worth a plug nickel, and not 5 CFTC margin hikes in row away from reality are fooling themselves.
All that matters is worldwide physical off take. Enough said.
Yup. It's getting to the point where the paper market is just totally irrelevant. Someday in the not-too-distant future one or two of these criminal banks that are doing this manipulating are going to get caught in a short squeeze that will hopefully wipe them out. In the process, after they've got their faces slapped by reality, they will have to go on a gold buying spree that would fuel an explosive burst higher that could last 6 months before it even stops for a breath. FU JPM.
Gold has been capped at 1150, and silver at 16... for months now.
Thanks for the report Captain Obvious.
Be nice, he's on the team.
What to do, what to do. Either I hoard cash or buy PMs.........
Been on the team since 15 years ago....and I've been smiling everyday since.
Except for the first couple years.....yeah.....that sucked.
But I did it anyway.
On the 'paper' market. add the premiums and the fact that paper rules the physical due to Fank - Dodd.. we all await he confinscation mode to see what really happens.. zthe big traders will move their holdings off shore into banks that will secure their holdings for trading with China, thus securing the holdings and create value.
I'm not seein' it. Does a ten cent move qualify as "slammed"?
We are this close to Major War. ..... Makes No Sense. ..... Which somehow makes perfect sense
Minor manipulated correction. Doesn't even warrant a mouse click buy.
Hardly a 'Slam'. Clickbait.
If these graphs were adjusted to show a zero price as the base, the drop would be seen as a minor twitch. Most graphs have the scales adjusted to make them seem more exciting.
This overt PM maniulation has paid dividends for me. I buy in small increments. I got into silver 1oz bars about 2 years ago and this farce is the only way I could afford to stack fairly quickly. TPTB think they are propping up the $, while in reality, making it more affordable for ppl to not have to rely on the worthless future fiat. Not too mention buying something that has intrinsic value with something backed by hope? I'm on board!
-- Keep on stack'n
I think their game is done. Paper shorts won't work anymore.
But WTFDIK
The Fed has a big bank account. The price of gold and silver will never move until those asshats decide it should.
i thought it was clear that Chase's large short position in slv was on behalf of China who has a whole heck of a lot of treasuries it can use to support paper moves keeping commodities down while they buy physical. if this is true to some degree, thanks China because I'm taking the opportunity. also, didn''t they also do the same sort of thing to London gold? the west is being looted by it's own debt rope.
So China is doing a more sophisticated version of what France did in 1971
The hooroor, the hooroor.... https://www.tradingview.com/x/cQh0Zh4D/
The premiums, the premiums ...
http://www.24hgold.com/english/gold_market_premium.aspx?ms=1184348D5010
While geld is 6 jewbux lower, silver has recovered, TWICE.
A double outside reversal all in 30 minutes. For all that drama they knocked 4 cents off silber.
I suppose it's bullish, but $16 is still pathetic.
who cares what they're worth in fiat. MOst important you have them safely when fiat falls apart.
Fuck the paper pushers
Dollar completing wave two.
Overbought worked off.
More deflation on the way.
there needs to be one standard item that you can buy for a 0z of silver, a Blowjob, Breakfast a dinner something people could trade it around for, that would scare the hell out of the Feds, because you know no inflation no tax
Imagine a Chinese restaurant that had on menu.. dinner for 2 One silver oz..
S.A.R. = SELL ALL RALLIES
Don't be lulled back into a sense security with the recent price increases.
SELL ALL RALLIES
You're waaaay better off stocking up on AK's AR's and ammo than phyz gold and silver.
And how much is a roll of toilet paper in Venezuela these days? .. same story here you can control the price but you can't control the supply, once you hit a threshold there is nothing to be had at your imaginary price level, I don't have the data but I would recon that below 1000$ and 10$ Gold/Silver there is no physical anybody would be willing to part with.
They'll be willing to part with it for far less than that if they have no other way to keep the lights on, or to keep from becoming homeless, or to pay for life-sustaining medical care for themselves or a loved one.
If I told you how much silver, *and* gold, I've been forced to sell at these prices since early 2013, you wouldn't believe me. You wouldn't believe I could ever have held so much, so many ounces of physical metal.
Now, *all* the silver, *gone*. Three-fifths of the gold, *gone*, just gone, pissed away at yardsale prices, and nothing to show for it. I would have done *vastly* better to have simply hoarded cash.
It will be hard to control the price when the only place to buy will be china
I noticed last weekend when people thougth EBT was going down that essentials like TP and laundry detergent were low on stock at my local supermarket. I took some extra time to stock up on what we use that can sit for an extended amount of time.
Are people willing to part with phyz silver at $16/oz? Silver is priced wrong until its inline with the price ratio it gets pulled out of the ground compared to gold.
Although I prefer gold it appears Americans like sliver more. Alright by me as long as we eventually get real money and are not totally left out in the cold by Asia.
Up a little, down a little, but ultimately range bound.
It's all under control until which time it goes out of control.
Yeah, I admit I underestimated 'em for a while. I didn't think their control was this tight and unbreakable. I thought something had to give. And I suppose it will, someday, sometime before the sun becomes a red dwarf. But not this month, or even this year.