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Gold & Silver Slammed As Dollar Soars - 9th Down Day In A Row
As the USDollar surges ahead this morning - crushing the hopes and hupes of corporate earnings in America - so precious metals are being battered once again. Silver is now down for the 9th consecutive day - the longest streak in 8 months; and Gold is down again (after a brief reprieve yesterday) to its lowest levels in 3 months.
Silver down 9 in a row...
Gold down 8 of last 9...
With both gold and silver revesing off their 200-day moving averages...
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Make it cheap so those Asians can buy it all up.....and then watch the fireworks...
The only ones being able to buy at these prices seem to be comex 1000 ounce bar purchasers anyway.
My shops stopped adjusting their prices lower for retail quantities a long time ago.
Stawks never go down even four days in a row...the equity speculators would absofuckinglutely wet their pants at 9 down days in a row.
Unfortunately, for PM investors, this is just the lay of the land.
I just hope the bankers know...they have overplayed their hand and overstayed their welcome.
/My time. It is coming.
I got my pitchfork ready, too!
Well I'd rather buy low, and silver is one of the few assets that is fairly valued against median income.
Yep! Just bagged myself another five American Eagles over at Gainsville Coins. $4.55 over spot with shipping.
Venezuelan gold has been leveraged up 200-fold and then next up, Nazi Gold Train FUD and another 1000 tonnes of paper gold hitting the COMEX. And then... they'll think of something.
Yep! Just bagged myself another 1+ rolls American Silver Eagles over at JM Bullion. $3.59 over spot with shipping included.
Keep dropping prices and we'll try to continue walking in the silver giants footsteps.
I have to poop.
Writing a poem as I dream of dropping it on JP Morgan Chase.
Your paper sucks, you Wall Street fucks!
I'll see you vampires in the sun,
with my loaded silver gun.
You'll be goin' down in flames,
from Lower Manhattan to the Thames.
Your paper is I know not where,
I'd rather shit my underwear!
For, be there bull,
or be there bear,
silver is the suit I wear!
(With gratitude, and apologies to Dr. Seuss.)
The only paper I own is the stuff I wipe my ass with. Market paper is worthless, because I cannot do a good job of wiping my ass with it.
Gold was worth $28.00 an ounce when I was a kid. Silver was worth whatever was printed on the coin you spent. Any one think those days are coming back?
All of the lying bum fucking aristocracy of the Age Of Paper Power can burn in their paper suits soonest. I won't even bother pissing on them to put out the flames.
I collect gold, silver, lead, copper, brass, real dry powder, food, tools, diesel fuel, and other useful commodities.
There is a huge national community of folks all doing the same, so skill sets and extra eyes and hands can guard each others sixes, and be ready for that Jim Morrison moment , "break on through to the other side, break on through to the other side, YEAH ! "
HFT ain't good for me.
Credit defaults far as the eye can see.
CDS's gonna make some messes.
Boo hoo hoo as thieves confesses.
TBTF gonna fall off a cliff - THAT'S REAL NEAT.
Wall Street is a bunch of fucking dead meat.
Banks used to be so overleveraged bold.
Now, they're layin' bankrupt,dead and cold.
Gonna be nothing matters but prepared constitutional people,
all the rest gonna be surprised drugged up fucked up Sheeple.
God bless this mess.
I must confess.
I'm a fucking poet,
and didn't even know it.
All my best to all of you with the intellectual capacity to be Boy Scouts.
BE PREPARED.
still plenty available at most sites around the U.S. My LCS premiums are 1.99 over spot.
SDBullion is 1.19 over spot for tubes of 20 on generic rounds.
https://sdbullion.com/silver/generic-silver-rounds
It's on sale and available....go out gitchewsome.
If these posters with the ‘my local dealer is out/has been out’ are being honest, they should become the neighborhood dealers.
Here’s a link, buy all you want.
Mint Sealed Boxes
https://comparesilverprices.com/
They are in grave danger if they do more of this. Dr. Copper is moving with the PMs and they are a gnat's eyelash from taking out the lows. This puts them in a bind. Crash the stawks by hurting taking out copper or flinch before they force new lows in the PMs. I'm betting they flinch.
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... www.wallstreet34.com
Do you and your sister share an Omibod? Asking for a friend.
Just wait til Yeller steps up to the podium in December and says Nada to a rate hike.... this will reverse on a dime and go the other way. Bought some miner stocks yesterday and today.
The great PM spring is being compressed to extremes. An explosion is imminent.
Really? $6 is a slam on gold? So what would you call $100 in an hour back in April 2013?
A crime scene?
Friendly trend.
Now, if I can just find some at that price.
Strikes me as an opportunity.
Im thinking yellen will not go full krugman-abe. Seems that she could not stomach being seen as worthless doubletalking clueless wanker.
Got my eye on a 100 oz silver bar...
Got me an eye on your package delivery service...
Soon Comex will be 500 paper ounces to one real ounce...
Sooooo tired of this nonsense from the bankster manipulators! This slamming routine is getting so old.
Collectively we CAN do something about it. Let's start today:
'Restoring the Lost Republic'
https://mega.nz/#F!J5EEXCDK!_LD4hgaBI3aUqqJc2Ng14A
Spread the manifesto everywhere and with everyone you can...
It's time for ACTION! It's time for the little people to take back the power from the banksters and elites!
So what is the paper to physical ratio today?
Same as ever...infinity to one.
Some say 290-1
That's a lot of paper supply to push prices down for a long long time!
Uknown, but high.
On the Comex it is almost 300 contracts to 1 ounce registered. Absurd....but that is the norm.
Is this Maguire's 4Q short squeeze?
Cheerleading MFer...Sinclair too.
There being a sanctioned infinite source of paper precious metals, and given "they" know full well the consequences of a publicized failure to deliver and/or the consequences of essentially no physical supply, what may "they" know, what may "they" care that justifies "they" relentlessly behaving as they do in the PM markets?
Subjectvely, myself, I suspect that the US and China, at the highest levels, for some secret reason, are in collusion on this PM price suppression regime. This suggests that a hockey stick's reversion toward the mean may be years away.
Maybe, but aside from psychological manipulation convincing people gold is less valuable, resorting to depress gold price via increased supply is problematic for manipulators. Some dishoarding must occur to sustain that method of depressing prices. And that's time limited. Only works so long as the hoard holds out.
Any sustainable system not involving dishoarding must involve a loop with every physical sell resulting in a physical buy somewhere else rendering the sell ineffective.
<beep><beep><beep> (backing up the truck...)
One way to address this manipulation problem would be to split COMEX futures into two classes of contracts. One that must be 100% backed by allocated, unencumbered, registered gold in the COMEX vault so long as the contract is open. Another requiring no backing at all that must be settled in cash.
Separating the actual market for metal from speculative wagering on that market would keep the wagers on the horse race from impacting the outcome of the horse race.
Correct. It's like if everyone bet against American Pharaoh and because of that, he became a donkey.
Why?
All the big miners hedge their production. They have zero backing of physical, but intend to produce that gold in the future.
If you don't like the horse race, don't bet.
That's a subtle, perceptive observation. You are correct, miners' likelihood of delivery of physical is not 100%. But it's very high, let's say 99%, accounting for mining disasters. They do own the physical gold and intend to deliver it. It's just in the ground at the moment.
By contrast the likelihood of a speculator delivering physical is 0%. Yet these two sell contracts are currently commingled and treated equivalently on the exchange for gold up through the last seconds before contract expiration as if both were 100% backed.
Under a 100% reserve system the miners would either have to hold a registered gold stock at all times as a buffer stock or find another gold holder willing to stake his gold in the exchange on behalf of the miner and assume the 1% non-delivery risk by the miner in exchange for a fee. This transfers all delivery risk outside the exchange to parties knowingly assuming it in exchange for compensation, thus keeping all exchange contracts 100% backed by physical thus exchange prices 100% reflective of actual physical prices and impossible to manipulate using fiat.
Side-bet, cash speculation on the market price of a good when clearly identified for what it is and segregated, is a legitimate endeavor. However that activity should not be confused with or co-mingled with discovery of the actual market clearing price for gold based on actual supply and demand for physical possession.
There are buyers, sellers and traders. The traders have absolutely no intention of taking delivery. If they take delivery, then they would have to PAY for all that gold in that contract. If they pay for all that gold, then all their money would be tied up.
That's the false argument I keep hearing about, that exchanges would "run out" of physical IF traders wanted to take possession. Reality is they can't afford to take possession, so the argument is moot.
The futures trade in gold can depress prices, but it ALSO has inflated prices. Likewise, cries of manipulation. Yes there is manipulation, but manipulation results in small, short term movements, not major market swings, such as the 10 year rise to 1,800 or the fall since then. It rose to 1800 because of sentiment and QE, and fell when sentiment disappeared and QE ended.
Likewise, gold, and to a lesser extent silver, will fall even more as interest rates rise. As gold continues to fall, sentiment will also fall. Is it that simple? Pretty much. Gold is driven more by emotion than any other metric.
Oh look at that an instant slam as its 8AM and another day that ends in Y.
I know this fraud is going to continue until the very last moment. But I am sick of it beyond belief. I can't believe nobody can or wants to stop this !!
"Stop this"?
What's there to stop? It's trading of a commodity that has almost no industrial use, isn't used and has no returns on investment.
In the coming years, as interest rates rise, I expect gold to be under $900 and even down under $800
As for COMEX, they only have about 5 tonnes (registered) in their vaults right now, down from a peak of 100 tonnes. That's still peanuts. There's 2,400 tonnes of new gold mined every year.
If gold and silver serve no purpose, why go through the great expense of mining it?
So that Anopheles can buy it up with both fists when it drops below $800.
Shhhhhhhh
It's mined for people like you that BELIEVE it has "value".
People do lots of irrational things for beliefs.
Compare the value from 100 years ago. An ounce of gold buys virtually the same basket of goods it did them. A dollar, federal reserve note, buys about 5% of that same basket it did 100years ago. You do the math.
Same false argument, you obvioulsy failed math.
Currency is a medium of TRADE, not a commodity. Your argument only holds water if wages today were they same as they were 100 years ago.
When sailing on tumultuous financial seas filled with corporate pirates and government treachery, there is one lighthouse shining a beacon of truth and hope. Dennis Gartman, who tells us"Gold is going to get much worse" Time to BTFD
http://video.cnbc.com/gallery/?video=3000449467
This looks more like desperation on the part of the manipulators than confidence. Their version of an Iraqi 'surge'. They know paper is doomed because they doomed it. Now it looks like they're going for one last push downward on the high-tensioned PM actual price spring before they let it loose and it jumps skyward.
With the Fed in a holding pattern courtesy of the threat of interest rates checked by the reality of the damage that would do, the manipulators just might be ready to run for cover when the system slags itself from its own corruption, and are buying all the PMs they can right effin' now. I'd be watching for more CEOs resigning to 'have more time with the kids'...and watch for more bankster 'suicides'.
The more public the beat-down of PMs, the more public the beaters become. This kind of economic thuggery used to be done in the back office; now it's done right on the exchange floor. The manipulators are risking public exposure at a time where it may prove politically unwise.
When I was in school, I had to read William Jennings Bryan's diatribe against gold; "You shall not crucify Mankind on a cross of gold!". A pity; Jennings got it all wrong. Making a wicker-man out of fiat currency and burning Mankind alive in it wasn't a good idea, either.
We need to coordinate a "fractional reserve banking celebration day" where everybody hits the ATM on the same day and pulls out $100-$300 cash. That would be a nice payback for these fucks. They would freak!
Yes. Withdrawals of cash materially threaten fractional reserve bank stability under the current system. And at 0% interest in savings accounts, you aren't losing anything. Anyone hating the current system must store as much of his money as possible in cash at all times.
We should be cheering to the rafters, because Homosapien has been on the planet for approximately 150,000 years and us lucky buggers who are alive today, are fortunate enough to be able to purchase these precious metals at subsidized prices, courtesy of the FED and her fellow incestuous central banks around the world. The key is not to whinge, or complain, but to leverage every fucking thing you have and buy as much GOLD & SILVER as possible. You either believe in FIAT, or you don't and if you don't, then what the fuck are you complaining for? BUY BUY BUY and tell friends and relatives to do the same.
I didn't get to it yesterday, but I'm buying today.
Silver.com RMC rounds, .79 over spot. It's nearly free.
http://www.silver.com/1-oz-rmc-silver-rounds/
Sorry Gold and Silver don't help in a depression...they are an inflation hedge....GOLD IS SCREAMING DEPRESSION!!!!!
Don't help vs. what. All wealth must be stored somewhere at all times. So where is the least bad place to store it?
Certainly not in commodities or productive assets which collapse in value during a depression. Instead, in money. Ok, which money, fiat or gold?
Wouldn't a precious metal that is not being simultaneously printed fare better on a relative basis than a fiat currency that is being printed, regardless of economic circumstances uniformly affecting the value of all monies?
Hedging fiat money supply inflation delivers benefits even when the fiat money supply inflation is masked by larger price deflation from economic contraction.
For example let's say value deflation in durable goods is 20% due to plummeting demand. Money supply inflation from fiat printing is 5%. So fiat prices of durable goods go down 15%.
Meanwhile gold prices of durable goods go down 20%. Sure, fiat will gain in purchasing power during a depression, but gold will gain even more in purchasing power.
Hussman (I know, I know) indicates negative returns on the S&P 500 over the next 10 years. Meaning it will be LOWER in 10 years than it is now.
When the 'market' crashes, SOME of that $$$$ is gonna go into precious metals....silver is an EASY double here, probable triple (within 10 years, if not sooner).
My next door neighbor, an older lady of about 72, is constantly on the lookout for real estate 'deals' and other ways to make 'quick' yields. I advised her to put some dollars into (silver). She asked how long she would have to wait, I said 2 to 3 years? She replied she didn't have that much time to wait.
If you have a 10-year investment horizon, you can most likely pull a 5-bagger in silver, if purchased now.
If you have to have yield NOW, you're setting yourself up for huge losses.
I have 1k oz I look at as bail-in/"greek" insurance but if it goes up by a factor of 2 or more over next decade I have no plans/need for it. in fact, I'm seriously considering giving 20 oz tubes as gifts this year so key family/friends have non-zero amounts of it & to maybe get them started in building supplies of their own.
Can I be your friend?
I am a nice guy, kind to small animals and very trustworthy.
You could do worse.
ok
Gimme the silver you rat!
;)
It's a non delivery month, with hardly any phyzz delivery pressure. China apparently has them by the balls so they have to keep the spice flowing or else!
Hell, the Chinese could have taken the shorting baton for all we know.
Then there's all that short paper our heroes generated to keep it down this long. They have to smash it to try to get out of that.
Last, we have a criminal mob for a gov't including those wastes of skin, the CFTC and SEC.
Doesn't look too promising until December, which is right around the corner.
What's on TV?
If you have any fiat left, back up the truck.
Both gold and silver will be higher by year end.
Buy low and hold.
Few days ago I got an email from one of the dealers advertising Silver Eagles for only $2.99 over spot.
My first thought was - ONLY???
I get get private mint rounds at 0.79, so why the hell would I pay a premium that is over 3 times higher???
I swear, I have half a mind to double down on silver and take out a home equity loan. Maybe a couple-thousand ounces. Four monster boxes of generic rounds. Why not? With interest rates this low the payment would be pretty cheap over ten years.
-Argenta