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According To The Knee-Jerk Market, South Africa Mines Silver

Tyler Durden's picture


Moments ago, a stray headline crossing Bloomberg was the catalyst for violent selling across the precious metal complex. The headline in question is this:


The reason for the puke in PMs is the goalseeked as follows: since miners are willing to negotiate wage hikes, the miner strike may soon be over. Well, they said that last week, when the Lonmin Maricana mine strike ended. All that happened next was for every other miner in South Africa to demand equitable terms, making the strike even worse than before. What it will mean, if indeed passed, is that a broad swath of PM miners will face default sooner rather than later, as they will be completely unable to pass on 20% cost surges to consumers, and many will file for bankruptcy sending capacity far lower in the long-run than currently, even with the mine strike. What is most funny, however, is the response in silver, which plunged in sympathy with gold and platinum as can be seen on the chart below.

There is one tiny detail: please point out in the table below of the world's largest 20 producers of silver, just where is South Africa.

We can wait.

Actually don't bother: it's not there. All that is there is a hearsay goalseeked flawed justification to enact a sell off of what everyone, even Ray Dalio, except for the Chairsatan and the Octogenarian of Omaha of course, now realizes will be the only money left once global QEternity is over and done with.


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Fri, 09/21/2012 - 11:10 | 2817977 Jason T
Jason T's picture

Seriously, good.. I now want to see gold and silver come come.. I'm underinvesting I'm afraid..

Fri, 09/21/2012 - 11:14 | 2817995 Pladizow
Pladizow's picture

Reality and facts have nothing to do with silver!

Fri, 09/21/2012 - 11:20 | 2818017 Oh regional Indian
Oh regional Indian's picture

The Octo-puss of Oh Ma Haw Haw strikes again.

Silver's time at centerstage is a few months away yet. Till then, roller-coaster time. It's just another lever in the hands of TPB for now.


Fri, 09/21/2012 - 11:38 | 2818080 Joe Sixpack
Joe Sixpack's picture

Well, duh! Whatever silver does, gold can do just as well or better. Just substitute. [/sarcasm]

Fri, 09/21/2012 - 11:51 | 2818144 Manthong
Manthong's picture

Equal Opportunity Manipulation and Suppression.

Fri, 09/21/2012 - 12:03 | 2818211 Oh regional Indian
Oh regional Indian's picture

I think it was also challenging it's 200 dma on the upside?

That might be th eprimary and proximate cause of this.


Fri, 09/21/2012 - 11:22 | 2818031 Nothing To See Here
Nothing To See Here's picture

When you see the price of PMs move according to rumours about a strike ending in South Africa, you know that fundamentals took a break out the window for a moment. They'll come back with a vengence at some point.

Fri, 09/21/2012 - 12:56 | 2818426 conork
conork's picture

I always saw silver investment as gold on steroids, fundamentals in precious metals went out the window before qe1 so just btfd and play along with it

Fri, 09/21/2012 - 14:35 | 2818849 nofluer
nofluer's picture

"catalyst for violent selling across the precious metal complex."


@14:30 Monex silver was off .07 to 34.57 - from the open that's down .29. Ummmm.... that's "violent selling"? I've lived a sheltered life.

Fri, 09/21/2012 - 11:28 | 2818051 kengland
kengland's picture

Looks like crude three days ago. Same monster forces at work

Fri, 09/21/2012 - 11:44 | 2818101 LetThemEatRand
LetThemEatRand's picture

It's amazing what you can do with an unlimited balance sheet backed by the ability to issue new debt payable by all of us.  You know the old line about how mad Americans would be if they really understood how the central banking system works?  Imagine how mad the public would be if they realized that the Fed is further diluting the value of their money/savings to cover up the effect of diluiting their money/savings in order to maintain the status quo.

Fri, 09/21/2012 - 13:21 | 2818483 akak
akak's picture


But, but, hold on ... where is Ayn Rand's portion of responsibility and blame in all of this?  I am sure that fundamentally she and her "selfish" philosophy of greed is the root cause of dollar debasement, right?  I mean, just about everything wrong in the world today can be linked to Ayn Rand, the demonic destroyer of humanity, in one way, shape or form.

Why, just last night I accidentally spilled a glass of wine, so naturally the first words out of my mouth were "Damn you Ayn Rand!"


PS: I did give you a green arrow for that post.

Fri, 09/21/2012 - 12:31 | 2818322 Right-on Left-off
Right-on Left-off's picture

There is just no fathoming of the manipulationability of the markets.

Ohh!  I call it, cover the criminality of paper shorting and make it up days later.

Rinse and repeat.

Sell high to buy low, the reverse of buy low to sell high.  All that is needed is to know which gambit is in play.  If you can move the markets you can make a profit in either direction at will.

Fri, 09/21/2012 - 11:12 | 2817981 schatzi
schatzi's picture

Algos using the iPhone map application

Fri, 09/21/2012 - 11:25 | 2818039 greyghost
greyghost's picture

god the education system in the u.s. sucks. hell i knew when i was twelve that s. africa mines gold not silver. alex, i will take african geography for 10 trillion, please.

Fri, 09/21/2012 - 11:35 | 2818078 tmosley
tmosley's picture

Implying that a, algos went to school (in the US, even), and b, that this wasn't just an excuse to take silver back below a level that has been heavily defended for a week, as if there were some sort of deadly, deadly consequence just beyond $35.

Fri, 09/21/2012 - 11:48 | 2818128 earnulf
earnulf's picture

There is, Silver might just suddenly pop out of the supression and blow the lid off things

Fri, 09/21/2012 - 12:11 | 2818247 PiratePawpaw
PiratePawpaw's picture

There is. If Silver can breach $35-37 this early, what is to keep it from reaching new highs this year?. And "we" cant have that before 11/6 now can "we"?

Fri, 09/21/2012 - 16:20 | 2819173 Hobie
Hobie's picture

That deadly consequence is closer to the $40 price range... JPMorgan Chase & Co. (JPM) -NYSE $40.88

Fri, 09/21/2012 - 11:13 | 2817985 Spastica Rex
Spastica Rex's picture

Look for the silver mining: every dark cloud has one.

Fri, 09/21/2012 - 11:13 | 2817986 Seasmoke
Seasmoke's picture

boy oh boy, Blythe refuses to let it stay above $35 !!!

Fri, 09/21/2012 - 11:22 | 2818028 r3phl0x
r3phl0x's picture

As if she's in charge. Blythe is just a tool to enrage and misdirect the masses, because fanning their impotent rage keeps the serfs under control. Anger without action reinforces inaction.

Fri, 09/21/2012 - 11:24 | 2818035 nope-1004
nope-1004's picture

It's all about confidence in Osama, the USD, and this failed economic model we zombies are forced to live in.  MOPE is the name of the game.  Must not let silver pass $36, or else it opens the black box again......


Fri, 09/21/2012 - 12:03 | 2818216 slaughterer
slaughterer's picture

A is for "Algos"

B is for "Blythe"

C is for "CME"

D is for "Dump"

Fri, 09/21/2012 - 12:36 | 2818343 negative rates
negative rates's picture

How bout "T" for tungston? Feels right to me.

Fri, 09/21/2012 - 12:05 | 2818224 John Bigboote
John Bigboote's picture

The Fed is doing this. It's obvious. They have to be very vigilant after the QE3 announcement, lest all confidence is lost in fiat too quickly.

Fri, 09/21/2012 - 11:13 | 2817989 donsluck
donsluck's picture

Threw up? I see no significant drop in the PMs. Am I missing something?

Fri, 09/21/2012 - 12:45 | 2818377 zoggl
zoggl's picture

agree!!! This should be a significant drop? Not if you know how Silver trades. We just got our daily dose of manipulation by these financial terrorists. Puppet-trader executig on behalf of the top 0.000001%, shorting naked every day about a similar number of contracts in a few minutes. Boring. Silver will be up again soon. Wake me up when silver passes 60 beginning of next year.

Fri, 09/21/2012 - 13:21 | 2818531 silverserfer
silverserfer's picture

all the fuss is from bitchy little paper traders. I love manipulation. please bring back $27 Ben. Buy phyz on the dips and quit whining. bitchez.

Fri, 09/21/2012 - 11:14 | 2817992 Mongo
Mongo's picture


Fri, 09/21/2012 - 11:13 | 2817993 PaperBear
PaperBear's picture

Any story vaguely relating to silver will be used by the cartel to smash the price.

Fri, 09/21/2012 - 11:16 | 2818006 AL_SWEARENGEN

You mean there will be less Silver produced?  Bearish!  These cocksuckers are caught.

Fri, 09/21/2012 - 15:58 | 2819120 Saro
Saro's picture

Came for "cocksuckers"; Was not disappointed.

Fri, 09/21/2012 - 11:14 | 2817997 Dr. Engali
Dr. Engali's picture

We knew the slam down was coming. Time for some margin hikes at the CME.

Fri, 09/21/2012 - 11:22 | 2818029 slaughterer
slaughterer's picture

CME margin hikes come later in the day, just before the options expiry cut-off.  

Fri, 09/21/2012 - 11:26 | 2818044 Duke Dog
Duke Dog's picture

Yep, bought one week ahead of Bernake's announcement and will do so again once the margin hikes begin - and rest assured they will.

Fri, 09/21/2012 - 11:50 | 2818138 Cdad
Cdad's picture

Correct.  Right on schedule, too.  You are here..... <-----------from 2011, a Friday, Sept 23

Fri, 09/21/2012 - 12:24 | 2818300 slaughterer
slaughterer's picture

Cdad, been around here for while, eh?  

Note to self: do not re-buy paper PMs until the regularly scheduled margin hikes.  

Fri, 09/21/2012 - 11:15 | 2818003 agent default
agent default's picture

It just goes to show the idiocy and ignorance of what passes of as a market participant nowadays.

Fri, 09/21/2012 - 11:16 | 2818007 Deep79
Deep79's picture

"Moments ago, a stray headline crossing Bloomberg was the catalyst for violent selling across the precious metal complex. The headline in question is this:"


Really Tyler

No they were not overbought, rsi thru the roof, keep making higher highs, rsi diverging


Fri, 09/21/2012 - 11:42 | 2818061 crusty curmudgeon
crusty curmudgeon's picture

This must be one of them thar paradox thingies...How can anyone smart enough to log-in to a website be that stupid?

Whatever.  I'm off to get more silver.

"The fact throughout history is that whenever government dominates the economic affairs of its citizenry, a free society is eroded, then destroyed, and a minority government ensues. Personal liberty without economic liberty is an absolute contradiction; the one cannot exist without the other."  William E. Simon

Fri, 09/21/2012 - 11:38 | 2818077 Abraxas
Abraxas's picture

@ Deep79

You've got it all upside-down and inside out. MOPE has been making these markets for years. Gold went from $250 to $1950 in 10 years and the only thing we've heard on mass media is bubble-in-gold talk. If they had reported what truly was the reason for the gold outperformance, we'd have a bloody revolution on our hands and gold price in stratosphere.

Fri, 09/21/2012 - 11:19 | 2818013 TheSilverJournal
TheSilverJournal's picture

I can't see how gold mining hardly makes a difference to the price of gold. Only about 1.5% of gold is added to supply every year. If 5% less gold is mined, then this will changed to 1.43% added to existing supply. This hardly changes the supply of gold. Am I missing something?

Fri, 09/21/2012 - 11:30 | 2818059 Motley Fool
Motley Fool's picture



90++% of the 'gold' market is paper promises to deliver gold. You are being fooled by the sham. Mining supply Matters, for the people buying actual gold, as opposed to the morons who buy paper.



Fri, 09/21/2012 - 11:31 | 2818060 r3phl0x
r3phl0x's picture

Miners provide a lot more than 1.5% of the (physical) market's liquidity. Most of the already-mined gold "stock" is not for sale (at least, not at anything near current prices). So the miner "flow" greatly affects the price.

Fri, 09/21/2012 - 11:50 | 2818137 jimmyjames
jimmyjames's picture

Am I missing something?


No-i think you're correct + - 2500 tons/yr mining supply against an existing supply of 165,000 tons means zip-


Fri, 09/21/2012 - 11:52 | 2818150 Motley Fool
Motley Fool's picture

Oh? And how much of that 165,000 tonnes flow yearly to satisfy demand for physical?


Mining supply is not insignificant, if one stops to think just a moment.

Fri, 09/21/2012 - 12:03 | 2818205 jimmyjames
jimmyjames's picture

Oh? And how much of that 165,000 tonnes flow yearly to satisfy demand for physical?


Get this---there is no shortage of gold-there can never be a shortage of gold-

All gold is for sale at "some price"

If the price that holders are waiting for has not been met--then obviously that gold will not be sold until the price comes to the seller-

Is 2500 tons/yr-give or take going to change that?

The LMBO alone trades 8,000 tons in a week-that doesn't include Hong Kong/Zurich/Dubai/New York-

Where is the shortage?

Fri, 09/21/2012 - 12:12 | 2818250 Killtruck
Killtruck's picture

Where is the shortage?



Fri, 09/21/2012 - 12:14 | 2818258 Motley Fool
Motley Fool's picture

So in 21 weeks they shift All the gold in the world? Those fort knox bars must exist after all. And poor granny can't wear those earrings long can she. :P


You are of course correct that all gold is for sale at some price...what do you imagine that price to be for central bankers or sovereign wealth funds?


2500 tonnes a year ? Yes that would make a significant impact.


Ignore stock. Flow is all that matters. There could be 200,000 tonnes, if only 1 tonne is for sale at current pricing the rest may as well not exist.

Fri, 09/21/2012 - 12:26 | 2818307 jimmyjames
jimmyjames's picture

Ignore stock. Flow is all that matters. There could be 200,000 tonnes, if only 1 tonne is for sale at current pricing the rest may as well not exist.


Obviously there is enough gold flowing to satisfy current supply and demand-or-you wouldn't be able to buy gold at today's price-no?

Fri, 09/21/2012 - 12:34 | 2818332 Motley Fool
Motley Fool's picture



I was and am still just pointing out that a 2500 tonne mining supply shortage would have a significant impact.

Fri, 09/21/2012 - 12:56 | 2818429 jimmyjames
jimmyjames's picture

I was and am still just pointing out that a 2500 tonne mining supply shortage would have a significant impact.


Show me how it would-

Miners do not effect the price of gold-quite the opposite-

The price of gold effects the miners and their choice of selling at this price or selling at a higher price-it's always and only the price that determines flow-


Fri, 09/21/2012 - 13:07 | 2818475 Motley Fool
Motley Fool's picture

Of the 165,000 tonnes you cite, how much is held in the hands of those unlikely to sell it at prices close to current ones?


Of what remains, how big a percentage is mining supply?


Of those mentioned first, how many are buying and will keep buying physical, which they won't sell?


What are the actual demands and supply of physical gold? I'm not talking about paper shuffling, or your ever shrinking hot potato london gold pool.


Think on this a bit.

Fri, 09/21/2012 - 13:21 | 2818528 jimmyjames
jimmyjames's picture

Of the 165,000 tonnes you cite, how much is held in the hands of those unlikely to sell it at prices close to current ones?


geezuzzz-isn't that what i've been trying to explain?

I don't need to think on it a bit-it's you that has it all fucked up-

Fri, 09/21/2012 - 12:26 | 2818306 PiratePawpaw
PiratePawpaw's picture


Well none of mine is for sale at anything close to current prices. Oddly enough none of the phyical holders I know will sell either, just dealers selling on commission. (which I am happy to help them with)

Fri, 09/21/2012 - 12:55 | 2818425 ActionFive
ActionFive's picture

The word 'short' is now always found with the words gold or silver.

Fri, 09/21/2012 - 23:41 | 2819826 RockyRacoon
RockyRacoon's picture

"The LMBO alone trades 8,000 tons in a week..."

Ha!  That's the funniest thing I've heard in a long time.  You really need to get the stock/flow thing right in your head.

Paper shuffling is not the same thing as what you imagine it to be.

I suggest a thorough reading of FOFOA.  Come back and see us in a couple of months.

Fri, 09/21/2012 - 11:21 | 2818024 tallen
tallen's picture

Every options expirations they slam silver. Not surprised.

Fri, 09/21/2012 - 15:59 | 2819118 tallen
tallen's picture

Just like with the mortgage crisis where firms like AIG were selling derivatives to collect the premiums, HFTs/Banks today simply decide the price they want for an options expiration date (say crude or silver) then just before expiration crash the price to it, wiping out the options value and collecting the premium. Easy money in the short term, setting up for a collapse in the long term.

Fri, 09/21/2012 - 11:21 | 2818025 Kaiser Sousa
Kaiser Sousa's picture

that was such bullshit....

wait, wait let me see...

Silver tryin all week to bust thru $35 only to be mysteriously capped n a 5-10 cent range below and then today blast thru it only to b slammed down almost a buck....




thanks for the op to buy it under $35 you mother fuckers....

Fri, 09/21/2012 - 12:27 | 2818314 PiratePawpaw
PiratePawpaw's picture

Answer: someone who doesnt really own any. They are just selling paper.

Fri, 09/21/2012 - 12:56 | 2818434 Cathartes Aura
Cathartes Aura's picture

imaginary paper at that.

what they really sell is anger, frustration, loss. . . more and more of what they sell is held.

thanks for the rant KS.

Fri, 09/21/2012 - 13:42 | 2818620 silverserfer
silverserfer's picture

wrong, they own a LOT of silver. They are price supressing beacuse they still can with thier endless paper. They are stacking and they will as long as they can.

Hint, they ask you to be all you can be.  

Fri, 09/21/2012 - 11:23 | 2818034 Flakmeister
Flakmeister's picture

Yet another stink bid hit on the Nov 32.50 SLV calls.....


Fri, 09/21/2012 - 11:24 | 2818037 apberusdisvet
apberusdisvet's picture

But the fed TROLLS claim that there is no manipulation, and the regulators say "we don't need no fooking position limits".  So waterfall declines in nanoseconds are perfectly legitimate?  Btw, I have some great swampland to sell; 240 degree water views; real cheap.

Fri, 09/21/2012 - 11:27 | 2818045 slaughterer
slaughterer's picture

Silverbugs should organize union strikes in Mexican miners if they want to see silver clear $35 definitively.  Send Sprott- and Casey-employed union agitators to Mexico with a good command of Spanish, otherwise the roller-coaster will get worse until a clear break-out emerges.     

Fri, 09/21/2012 - 11:48 | 2818124 nope-1004
nope-1004's picture

We had a clear breakout in spring of 2011 when it went its natural course attempting to clear $50.  Silver was smashed bigtime, 8 margin hikes in 9 days or something.  Also, the huge smash of 15% or so in 18 minutes happened on the night Bin Laden was "killed".

Coincidence?  Absolutely Not.  The next break out will be the end of something big and once it happens, will be too late to buy.


Fri, 09/21/2012 - 13:05 | 2818464 Cathartes Aura
Cathartes Aura's picture

Yom Kippur 26 Sept, "high holy days" and 39 years since the war involving all the players in the "tension" currently bubbling. . .

a few days later, Harvest Full Moon. . . I know you guys don't pay much attention to the planetary alignments, but you may want to at least take note: the tension that's been building all month, all year, is reflected in this Full Moon, and if "they" want to paint the day, this is a strong signal. . .

Fri, 09/21/2012 - 11:27 | 2818047 dogbreath
dogbreath's picture

drive it up, drive it down, close out positions for the weekend and its party time!!!!

Fri, 09/21/2012 - 11:30 | 2818049 Temporalist
Temporalist's picture

So the farmers harvesting bananas want more money to harvest and the price of bananas will drop?

Or if it costs more to source and extract oil the price of oil will drop?

Why would mining know what never mind it makes perfect sense if you think like Krugman.

Fri, 09/21/2012 - 11:34 | 2818073 Abraxas
Abraxas's picture


Fri, 09/21/2012 - 11:34 | 2818074 paddy0761
paddy0761's picture

Bring it. If they can't get it under $1750 on Au and $34 on Ag for the weekly close, then they have lost - Game Over; maybe a possible commercial signal fauilure given the COT structure. I'm happy to see a "handle" form down to $US1680 on Au, but PM setup looks complete.

Fri, 09/21/2012 - 11:35 | 2818075 billsykes
billsykes's picture

All of this is just an excuse to push down the prices.

Labor talks- even if it was a silver mine means nothing. Every watch junior miners stock prices jump all over the place to the price of commodites? Think about that- all they have to show is holes in the ground and some samples, they don't have a mine even if they did it would be a decade out to full production.

Its just total speculation, just like how Greece is important to the world economy. Or Iranian oil is to the price of oil now- did the US even ever buy Iranian oil? no. so how would it effect price? it does'nt. 



Fri, 09/21/2012 - 11:42 | 2818095 Ralph Spoilsport
Ralph Spoilsport's picture

Obvious HFT manipulation is getting obvious.


Fri, 09/21/2012 - 11:44 | 2818098 Kina
Kina's picture

Ms Maters panties obviously were beginning to stink too much, so some understanding soul decided to sell a hundred million ounces of make believe silver in a few minutes to stop her soiling more of herself.

Fri, 09/21/2012 - 11:44 | 2818102 Ralph Spoilsport
Ralph Spoilsport's picture

Great visual Kina.

Fri, 09/21/2012 - 11:52 | 2818152 rosiescenario
rosiescenario's picture

....the water rushes out before the tsunami arrives....

Fri, 09/21/2012 - 11:54 | 2818156 Kina
Kina's picture

Don't worry the CFTC will be right on it, they have their own terminal to save the corrupt banksters the trouble, and have taken to selling invisible silver and gold for them.

Fri, 09/21/2012 - 11:55 | 2818163 Segestan
Segestan's picture

With power like that..... the jokers are doomed. Reality always wins. Keep buying!

Fri, 09/21/2012 - 11:57 | 2818175 dogbreath
Fri, 09/21/2012 - 12:00 | 2818190 runlevel
runlevel's picture

lol ya.. it was the headlines that did it.. i forget what was the headline on feb 29th?

Fri, 09/21/2012 - 12:03 | 2818219 Likstane
Likstane's picture

That's the best slam those piss-bags can muster?  HAHA-They're fooked! 

Fri, 09/21/2012 - 12:07 | 2818228 RMolineaux
RMolineaux's picture

I believe it is an overstatement to suggest that mining companies will go bankrupt if thery grant the wage increases demanded.   If their managements have any competence, they will find ways to minimize the impact of the wage increase on their total costs, which will remain a fraction of the world gold price.

Fri, 09/21/2012 - 12:08 | 2818238 KingdomKum
KingdomKum's picture

we few,  we happy few,  we band of silver holders  .  .  . 

Fri, 09/21/2012 - 12:31 | 2818253 FranSix
FranSix's picture

A weekly close above $1790/oz. U.S. would mean a run to previous highs last September. That's what they're trying to prevent.  Besides, they've mostly concentrated on crushing the miners, despite their nominal improvements with stronger gold prices.

Imagine though, that Chinese labourers take sympathy with the oppressed South Africans, and decide that they too should have better wages, and working condtions.

Fri, 09/21/2012 - 12:36 | 2818344 Sigep0612
Sigep0612's picture

The Controllers are pushing hard for a rise in risk on assets.  They need to raise the emotional contentment with stocks.  Why?  The Controllers need to re-elect the President. For cyring out loud, we can't have the first minority President, who promises the moon but is inept economically, to only have one term.  The low return Bond market doesn't produce the adrenalin that stocks produce. If the Controllers are successful in pushing the S & P past 1474 then GLD and SLV will go higher.  @ 1465 right now. 

Be very cautious with PM's right now. If the S&P busts through and stays there jump onboard and buy gold but a boatload of Silver.

If the S&P falls below 1376....sell...sell...sell.   

Carpe Diem.  Rejoice while you are alive. Enjoy the Day. Live life to the fullest. Make the most of what you have.  It's later than you think.   -Horace, Ancient Roman Poet.


Fri, 09/21/2012 - 12:46 | 2818372 HyperinflatmyNutts
HyperinflatmyNutts's picture

Like I said be4... This is all noise.  keep stacking untill u have a sliver bed then close your eyes go to sleep and wake up in a 2 years.  Sliver well over 125-150.   The game is over no use wasting our time talking about this and that.  Yes they will do what ever they want to the PM, but in the end we here at ZH know what really money is...  

Fri, 09/21/2012 - 12:46 | 2818383 Cult of Criminality
Cult of Criminality's picture

If someone could just help me pry these three protons off an atom of lead.,

Fri, 09/21/2012 - 12:53 | 2818398 Cult of Criminality
Cult of Criminality's picture

If someone could just help me pry these three protons off the nucleus  of an atom of lead.,

The alchemist`s goal.

They never could do that one part.Thats why they went to paper.

That they can make.

Fri, 09/21/2012 - 12:55 | 2818421 Cult of Criminality
Cult of Criminality's picture

"What is most funny, however, is the response in silver, which plunged in sympathy with gold and platinum as can be seen on the chart below"

Made me laugh too.

Cheers all

Fri, 09/21/2012 - 12:57 | 2818437 Lewshine
Lewshine's picture

Trading metals with Ben behind the wheel of every asset class in the world, especially those that reveal real inflation - Is a MOTHER FAWKER!!! Auto-trigger stop losses...These criminals leave nothing on the table!!

Fri, 09/21/2012 - 14:08 | 2818725 Lewshine
Lewshine's picture

Trust this, it ain't over. Ben and his whores will ravage the precious metals market everyday before the election, just like they did oil.

Silver and Gold have as much chance going higher from here - As stocks have any chance of going lower!! Think Ben's ideal!!!

Fri, 09/21/2012 - 15:44 | 2819087 TAfool
TAfool's picture

What a poorly thought out article. Labor costs in the mining sector for developed areas run around 10% while 3rd world areas are much lower. Adding 20% increase to an 8% (lilely much lower but I don't have 3rd world stats at hand) cost makes little difference in the end result. A 1-2% end increase is closer to the truth.

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