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And there you have it: CME just hiked gold margins by 21%, silver by 16% and copper by 18%. Mystery solved.
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I'm ready to stretch some fucking necks. Crooks.
If a million people would just buy 10 silver dollars on monday am, then this BS would stop.
Yes, the little people moving en masse can affect them. Meanwhile-
Ostracize these trash from decent society. Shun them. Shun their children in school. Make them unwelcome in their neighborhoods. Treat them as the low-life miscreants that they are.
Laugh in their faces when they speak publicly. Find their blogs and shit there. It's all we can do until the gloves come off.
(I'm physical only, so their steenking margin hikes don't skeer me any.)
How about if you dumb American Citizens simply stop paying your taxes. ...Your Guberment gonna arrest 350 million people? Use your brains, you got the internet, no violence, nobody gets hurt and you Guberment falls. Its that simple.
And what sterling, White Knight government do you and yours pay taxes too? Unless it's Finland, Andorra, or the Vatican, your country is in just as much trouble and just as corrupt as the USG. It's that simple. (This dumb American citizen just added the apostrophe for you.)
For the majority of the population that is not an option. Taxes are automaticly deducted from ou paychecks if you work for a corporation. You would need your company to stop withholding income, not very easy. Our tax deadline is really just a formality of making sure the government stole enough from you and you aren't cheating them of what they believe is theirs.
About all you can do is stop paying your property taxes but trut me the government wouldnt mind confiscating entire towns. We have one of the worst forms of taxation in the world and the current state of our republic has been altered so much that it is impossible to elect honest leaders.
The King of England in 1776 has nothing on the American government of 2011.
First close your bank accounts with JPM and the TBTF.
Use that money to buy the silver and keep the balance at home with you. No need for these stinkin banks.
you know, is the slightest bit of transparency or predictablity too much to ask? how about making investors aware of what criteria necessitates a change in margins? or announcing it well ahead of time?
enough with being able to randomly and unexpectedly jack up margins, let your buddies frontrun the hike, and knock silver down 15% in a day because everyone has to puke up margined postitions. the PAGE can't come soon enough.
I am beyond disgusted. I am actually fucking PISSED!
The total number of silver open interest contracts fell only by less than 1% yesterday and it would not surprise me to see it hold strong during Friday’s price decline – this is a financial war and no quarter is being given. The silver vigilantes will emerge victorious.
Simply unconscionable. But, then, I'm a moron for being surprised. Fuck them.
Would you like some margarine to go with your margin hike?
http://www.butteryspreads.org/
That site isn't even propaganda because propaganda contains at least a kernel of truth. That site is pure lies. Corn oil simply isn't good for you, dude.
This is wonderul!
I am scooping up silver ounces at huge discounts to fair value. Thanks CME!
Thanks! CME...may I have another? Headed to to the PM store...
The question everyone should ask, WHY A FUCKING MARGIN INCREASE OUT OF THE BLUE? To me, it means something is going to happen real soon, and they wanted people out.
You have a very valid point there. You take a look at the charts and is stinks of an engineered takedown throughout the last two weeks. I would realy like to hear more opinions about this. It is a very good point.
It is one of the 2 plausible scenarios I too, was considering: t'was either that, or, someone from the land of the red smurfs bitched loudly and often that the specs are driving prices too high, and thus, ever compliantly and brown-nosely, word/order was passed down to CME to take action so to lower the price in compliance with the fuckers' whiny & pissy demands.
IF CFTC had any balls, specific dates, and/or specific conditions, should be set and clearly spelled out when such action can be taken, so everyone is on the same page. Regardless of anyone's position @ the time of the move - long, short, on the sidelines, paper trading ... what fucking ever, fair is fair. Perhaps enough politicians did not get the memo so to exit, and are now pissed enough to do something about it. But I am not holding my breath on that. Regardless, an investigation - or more like 'lifestigation' - is most definitely in order, and most likely will happen or else, CME stands to loose.
Can you imagine any other business getting away with such practices? ......."Dear Shoppers, effective in 10 minutes, all the shit you now have in your baskets, must be paid for in cash only, as we no longer accept credit cards"!!!
And many thought it was bad when there were a few whales splashing around ....releasing a rumor or two. Haa haa .... my ass. The system is more corrupt and rigged now than ever before. Now we have governments manipulating markets, not only through entire departments, ministers and PR peeons, of course backed by entire vaults of cash (and printing presses). No wonder so many of the true legends of the "our game"/profession have retired (relatively) recently. They sure as fuck did not develop a sudden allergy to wealth. They had enough smarts, and contacts, so to realize that the little crap they pulled before, was chorus boys games compared with today's games. They did so in order to protect their wealth since they were not playing with monopoly money, often their entire net worth was/is invested in their funds. True, some of them have amassed fortunes, but they worked 80-100 hour weeks, unlike today's corporate CEO and other corporate 'functionaries'. For those interested in learning about how our biz evolved, i strongly recommend the 3 books "Market Wizards ......" by Jack Schwager. They also provide insight into the lives of the early traders. Many of these guys begun their carriers with loans from family & friends, like Richard Dennis, or Paul Tudor Jones. Trader Vic, is another legend. For gold bugs, check out the Pitt Bull by Marty Schwarts. Do not expect miracle 'systems' from reading these books, nor the 'secret sauce' instead, you'll get a better understanding of a true traders' mindset and thought process - and I am not speaking of MBAs who expected high 6-7 digit compensations on their first week on the job. I still remember a CME floor trader being interviewed during the '87 crash who called trading "the hardest way of making an easy buck". Not anymore. Today even this business is mostly bullshit like everything else ..... sad to say. More could be said, and already has been by others, through books, etc, but even this business/profession now is in the hands of Mongo ACME Corporation, or, the Finance arm of the Red Smurfs Peoples' Party - RSPP. Time to take 2 more Fuckitalls, and wait for tomorrow PMs trading to begin ......
For the uninitiated (I include myself in that category), can someone confirm my understanding that, perversely, hiking margins simply conveys a loss of confidence in fiat? The higher the margins the lower the confidence in fiat? If so, that seems to me to be an act of eventual self-immolation.
I'm sure goldbugs and the Chinese agree with your statement.
D. Rex,
Your use of the word "simply" makes your question a bit more difficult to answer. But I'll give it a go....
On the simple end, I would think the rising of margin rates for metals is not a loss of confidence in fiat but, rather an attempt to keep fiat relevent and believable. The enemy of fiat, the fractional reserve banking system, and central banks is gold and silver as a store of value vis-a-vis fiat paper. Assuming your premise, a margin hike would drive out some of long positions (specs) and take down the price. This would cause the general population to view these price moves as frightening and keep participation low. That's the "simple" answer.
Now for the "real world" answer as I see it; The large commercial shorts know the hike is coming and start bombing the market with naked short sells to protect their untenable and dangerous short position... Hey, wouldn't you like to be able to sell something you don't own or have, over and over again? Good work if you can get it but, eventually the piper comes a'calling. The piper is starting to be heard and these commercial shorts need to take the prices down or face ruin... and by extension the fractional banking system they are part of. This is a war for survival and I wouldn't expect anything less from these players.
The commodity markets in general are designed to remove risk from buyers and sellers of commodities and pass that risk, via liquidity, to speculators. You forward sell your corn crop and set your delivery price for an assured price. This makes planting and cultivation not such a crap shoot. The guy that owns the grain company does the same on the buying end to lock in his costs. The speculator provides the liquidity. Generally if the specs drive the market up too much and make it frothy, you'll see margin hikes to stabilize the markets for the benefit of producers and buyers that take delivery. That said, you usually see margin hikes when the market gets too frothy and pricey. In my years of trading commodities I don't recall seeing large, repeated margin hikes on the way down (silver in May). I'd be interested to learn of past examples where there have been margin hikes during and after plummeting prices... anyone remember this happening before?
For those bitching about this take down, remember, you chose to play in the game. And this my friends, is a big, bad fucking historical game. It's world-wide and involves governments, central banks, and banking cartels. It ain't bean-bag. I still trade commodities, but I like my PMs where I can touch 'em. If you really believe in your physical PM holdings, these price gyrations in relation to your local fiat are only noise. I'll leave you with this to think about; Gold hit an all time high yesterday against the Brazilian Real. It's the gold that is "real" not the currency that it's pegged against.
Thanks WCGW,
Every day is a school day here. Thats why I love ZH.
loss of counterparty confidence
Let me guess. They raised the margin requirments because the prices have fallen considerably lately?
This event is so completely irrational it stinks like crazy. This doesn't seem like "normal" manipulation", it seems like they're doing this in advance of some dramatic action --- perhaps scheduled for this weekend?
This make sense for the twist to succeed. By making it clear that random and arbitrary margin hikes will be applied to precious metals, they make short term treasuries more attractive. If the FED is selling short term treasuries, it will make it easier for the FED and the Treasury keep rates low.
Hmmm. Interesting. And plausible.
Yup, sheep herding, they are forcing options on you. I hold physical and don't want to play the ETF game cause of this type of shit.
HURRY!!! HURRY!!!!
sell all your gold and silver to me at a discount before you lose more money!
call 1 -800 - You - Fool
Operators are standing by!
Ca$h for fooled.
(Cardboard sign):
"I will work for fooled"
Buy Low?
Sell High??
or..
Hold on to it for safety!
And I wonder ... who the fuck knew this was going to happen before it actually happened? This is a mass insider trading situation ... not that it will affect the long term, but fuck!!!
SOMEBODY is trying aweful hard to hide "the inflation"....
This in no way accounts for the sell off - last time we had a margin hike we saw 6 consecutive hikes plus a big kick from the banks. Here we have 1 margin hike - the reaction is not one of panic selling, bacause if it is this is yet another point of investigation for our erstwhile regulators (insider trading) - this isn't panic, it's a huge raid and the source is the Fed.
Do not fret. Once the European crisis explodes, gold and silver will both skyrocket so fast that this downturn will be merely a bump in the road.
"investigation for our erstwhile regulators (insider trading)"
The what? You are joking right?
They have pulled out all the stops in manipulation and downright fraud at this point.
I've got a rope now find me a tree. That's the regulation they need.
Someone just mentioned an economic oligarchy.
Can someone explain to me what that means? /sarcasm
It means you have to scramble your own eggs.
As long as I don't have to eat my peas.
No peas. Just scrambled eggs, grits and sausage ... maybe a cup of orange juice and a coffee on the side. But you have to cook it all yourself.
Financial dictatorship!
Bet you that Blythe is blowing somebody. The banks are broke and need to have a very rigged game to stay alive.
If you think that the $100 trillion in unfunded liabilities will disappear ...sell your PMs
If you think congress will work together to reduce the debt... sell your PM's
If you think the FED balance sheet will shrink....sell your PM's
If you think Americans will wake up and stop shipping jobs to China and India...sell your PMs
Nothing has changed, this is just massive manipulation to save the fiat.
actually, according to lindsey williams, the globalists want the US dollar destroyed by the end of 2012. and, the US will have defaulted by then!
Reminiscent of the early 1980's when they DOUBLED the margin requirements as the Hunt Brothers had literally cornered the silver market and drove it to $52/oz!
A few questions for anyone who knows. Since I only buy physical, I always forget the details of these margin-related paper-related vehicles.
#1: Off hand, 21% hike seems pretty large. True or false?
#2: At exactly what time was this released (including time zone)? After all the markets closed?
#3: How much more selling is this likely to cause next Monday~Wednesday?
Finally, a simple note. When I went to the APMEX website a couple hours ago (APMEX == my usual PM supplier), and noticed they have almost nothing in stock at the moment, which is almost unheard of for them. Very strange combination of events. Could part of the purpose be a response to the extreme tightness of the physical supply of gold and silver (as indicated by APMEX)?
They have to inflate it pop the bubble. The problem is they can't get any momentum. They crashed it down to where it was 7 weeks ago. It'll probably retrace 38.2 or 50 percent next week.
APMEX? You're kidding. They have stock, they aren't selling at this price. Their input cost and hedging just means that they aren't giving it away today when they will get more for it sometime soon. APMEX is not run by fools. If they are holding back, they are anticipating higher prices. Trade on it.
FUFUFU BM
I like gold and silver, but you gold and silver bugs really make the rest of us look bad. You guys are a bunch of kooks. Everytime gold and silver goes down it is someone elses fault (JP Morgan, CME, etc.). Maybe it was the CME. Get over it. That was a reality of the market that every market player should have been aware of, nothing new. If you got caught with your pants down it is your mistake. It is also possible a slow down in the economy brought a deflation scare which brought down all commodities. I do not think it is justified to treat precious metals the same as basic commodities but nonetheless the market will do this from time to time. The inflation trade was crowded anyways. Everyone hated treasuries, but they have turned out to be a good trade as of late. The gold upward trend is far from broken and should eventually bounce back if and when the Fed opens the floodgates of dolares. Peace out, clones.
I've never really understood why people get angry about JPM, CME, or whoever suppressing the price of silver and gold. In fact, I just wish they would manipulate the price of other commodities (like gasoline and wheat) lower.
Maybe if I were retired and trying to live off my stash of gold, it would be a different matter. But I am a long way from retirement and am still very much in accumulation mode. So to whoever engineered todays price drop (if anyone) I would like to extend my profound thanks! And if you could engineer another drop on Monday, I would really, really be grateful.
Manipulation of gold in particular has been in partnership with the Fed and other Central Banks - making gold look bad so currencies look bette - sort of like keeping the canary in the coal mine on life support - go back to Summers paper on low gold prices translating into lower interest rates on T Bills. Silver suppression has more to do with the trade group efforts - originally photographic uses, solder and more but it is also in government's interst not to have gold'sjunion sibling looking too good - might get people thinking. My point is that keeping prices DOWN has occurred with government partnerships- do you really think the BOE sold off half their holdings at the market low under Brown on their own? Clearly this was na effort to bail out a short bullion bank ..... you saw this regularly... Bullion banks could safely short metals to keep the price down - as the Central Banks wanted. They coud count on support from the Banks if markets caught them holdong large short positions. If gold was headed up, catching some large bullion banks in large short positions, a central Bank would sell to knock the price down - or just TALK about selling to the same effect.
Don't think that other copmmodities are NOT manipulated - they are. Oil is regularly. Lately Copper has been bought up by JP Morgan. They can make a lot more money there than on silver. Goldman Sachs is making a fortune warehousing aluminum - charging for storage and being slow to deliver, squeezing supplies.
Damn near every commodity is manipulated. The big traders can make money as it goes up AND as it goes down.
exactly, i am thinking to just come here to know when to sell high and buy low.. these bugs are bigger suckers than the constant bid from 401ks
"Peace out, clones?" "You gold and silver bugs really make the rest of us look bad?" Hey, Mr. Alpha Omega Avatar, Luke 21 talks about the end times of the tribulation. In the words of Frank Zappa, are you a Mexican poncho or a Sear's poncho? The whole psychology of fiat money involves the abdication of our individual imaginations to a central power. We don't use Monopoly money for trade, do we? No - we lend our "belief" to the "printers in power," supporting the continued delusional value of the fiat US dollar. This psychology of delusion serves to pre-condition us for our eventual willing acceptance of a funny little biometric mark on our hand or head, that will totally eliminate paper money from the equation. Fiat paper is just training wheels for the paperless end-game, when we abdicate or imaginations to whatever UFO rises up out of the sea to mystify or terrify us. So, Luke 21, on which side of this equation does your avatar reside?
Monex
Question.. be gentle if this is a stupid one. What ARE the total margin requirements for Gold and Silver now? They've raised it a number of times, but I'm curious as to how much room for raising it further there is left. Framed differently, the question is.... how much more ammo do these manipulating bastards have?
maybe they'll force em to have 200% down before you can play..
they keep hammering on that precious metals ass don't they? gee i wonder why....
are all of you in a trance?? markets grind - they ain't fair. Don't be greedy.
"they ain't fair."
When was larceny ever fair? The markets are of the criminals, for the criminals and by the criminals. They present themselves to the world as if they were Plantagenet Palliser when, in fact, they are Fagin.
People trading the paper ETF's deserve their ulcers; you all know there is no physical to back em up, you all know the prices are just arbitrary bullshit, and you all know you will have absolutely ZERO legal recourse when the ETF's go belly up and leave you holding the bag. Buy physical and be happy on days like this.
ZH readers are smart enough to own physical. Why do people here give a crap what the CME did or who knows ahead of time? My physical gold and silver is still in a deep, dark hole in the ground in the Midwest. Nothing has changed since last week.
None of this affects your PMs. It just gives you a chance to sell some more fiat paper at a good price.
luck's last match struck
In the pouring down wind
I know I cannot hate a human being.
BUT I can hate a Business, or the Govt,and the CME is on my list.
One more (OT) Example(sorry), Of what's in the Bill?.
Gotta PASS it to find out!).
http://washingtonexaminer.com/opinion/op-eds/2011/09/obamare-hhs-rule-would-give-government-everybody-s-health-records
Trust me, famous last words.
These SOB's could not find their ass w/your and my hands, and we turn this over?.How bout,I show you MINE, when YOU show me yours?.
What a joke. This is unbelievable. After the type of beating that longs took in the last 2 days in the metals the CME does this to us.
Criminals
This is insider trading... Everyone who received the leaked news and liquidated is breaking the law.
The CME is breaking the law. Can't this administration do anything? This is illegal insider fricken trading.
There is a positive side to this. Increasing margin requirements ensures that there is less hedged money manipulating the price. The USD is on an unsustainable path and if the Euro goes, and it will, piling into a bankrupt currency will not last... then watch you PMs start to really move.
Web bot technology is saying that before this is all over, we'll be seeing $20 swings in silver. By today's action, we're certainly on our way.
(not associated with the Web bot people)
http://www.youtube.com/watch?v=-9IFs5ROcBc
...the offer of temptation enters into the human host. Corruption can only enter therein through deception, given though the elder of man. From that point, the mark (to myth) of knowledge and full revelation (dark pool) sealed upon the host, the war is risen from the black hole. Corruption kills every host it enters in, because, the host is open unto the bottomless pit. We know exactly what these bastards are doing, they are slaughtering all flesh. So how is it that we are overcome, knowing the evil offer and the deception at hand? Obviously there are just a few that can quantify Christ, and this prophetic market offer upon this generation, while in positions of power, and that is why we are being slaughtered through deception and the evil elite occult bastards among the nations and Israel. The human host lacks defense for life, but for the mercy risen upon the pain of death. It is written, as in the days of Noah, so, is it not now the time for the coming of the Son of Man? ...of course it is. It is interesting to note, not all shall perish but, the wicked shall witness their own judgment as a negative rate of return come upon them as the last generation reaches the point of peace with Israel and the nations.
...as for the deceived, are their such persons? ...deceived by the image of Christ standing fast and doing no harm? All courners of Earth have heard the name of Christ and the rejection of the mercy of our Father offers no escape, even in principle. It is written, when the Truth is preached throughout the world, then shall the end come. Hello!
The market fools that accept the CME bullshit are evil bastards, or, are people so ignorant and deceived. The same inside job runs through to the 911 WTC 7 Pull it Bitchez etc... that dance to the same Madoff tune ...with the crowd behind the Brooksley Born Benjamin Netting Yahoos and the New World Order U.N Sustainable Agenda Maitraya Antichrist Krugman Martian Hop Head Heeeep of Bullshit ...sold through the Great Wal Mart of Chairsatan's Commie China, defining the Silver and Gold Bullets chambered in their suicide 666 shooter. It is written, they will kill you thinking they are doing their ''gods'' work. http://bible.cc/john/16-2.htm
http://www.youtube.com/watch?v=5YB6zO5UkEE&feature=results_main&playnext=1&list=PL64DB75CC4A51C987
Your utube link is actually their end game, kinda unbeliveable till I read the UN agenda about the little guys.
http://www.youtube.com/watch?v=kffeOn4jGbk&feature=related
...that Maitraya bullshit, another name for Lucifer, Azazal etc... People actually can't handle the fact that these turds are seriously into worshiping the bastards, yet there's a pyramid on the fiat and a obelisk pointing Middle Finger; (as above so below) in a reflecting pool in line with two assassinated Presidents (Trophies), to the time of their bullshit NWO New Age. Aaamazing. Right in front of everyone's face and still people are buying selling and trading this corrupt self devouring offer of the beast market delusion. The Lama was a good line in Caddyshack, and that's it. Morons. Between them, the Hindu nutballs and the Muslim and Jews ...and the crazy Skull and Bone Heads in this failed country, and the Catholic Bastards that tortured and slaughterd anyone and the Euro Pagan freaks down to the Mayan kill kill and the Masonic 33 degree mad mappers ...you would think people would get it by now. Lol, but they don't. http://bible.cc/revelation/12-9.htm
Hey Denninger - you're still a pasty, pudgy fool and the only last laugh you are going to get will sound a lot like Ned Beatty in the woods.
Get your asses down to the Wall Street sit in and bring a sleeping bag and some water. If you are tired of being sodomized over and over and over do something about it. Or shut the fuck up and take your reaming. Until heads start getting busted and glass broken and the pinstripes are too afraid to show up nothing will change. Nothing.
At least the Syrians and Libyans have some balls.
Should be feeling sad and dejected, lost about $20K this week........... On paper!!!!! HAHAHA! Just can't seem to muster a tear though.
Should have bought the Phyzz, BITCHEZ!
Hell, raise the margin again, Laddies! And again. And again. And again.....
Hot Damn! This is fun!
I think we all know where we go from here. TALLY HO!!!
Tonight I'm ten feet tall and BULLET PROOF! (Sing it Hank!)
Strong $ = Death of any Recovery
Larry Summers said, 'the ONLY way out of this recession is by increasing exports via a weak dollar."
One of the few things I agree with Larry on.
...lol, you realize there is a penalty for even mentioning that name out loud? You can't agree with the the devil, that sat with Chairsatan, while they aborted Brooksley Born ...as she was outing them as hell bound traitors. Oh no my friend, That is a serious penalty. Uh, listen to this. http://www.youtube.com/watch?v=ndChcyOAEcs ...OK, so it's not really that bad, it's pretty good really but, um, oh yeah. Get into a fight with a ...an unemployed person and lose. Awe, too violent and stupid. I got it, buy them lunch.
Au contraire mon frere
Goldilocks $ = just right
Anytime, anywhere,,,My paper for their Gold....
i'm still in my accumulation stage of bullion investing, so these dips are a gift.
i was down to first magestic for another 10-10oz bars today. beautiful bars. a pity to put them in a SD box.
this was the first time i used f.m.'s site.. i would say the prices were sharp, it was easy to buy and $5 delivery if you pick it up at their office in downtown vancouver. i will use them again this weekend :)
Is the comex afraid that people don't have the money to pay for the gold they purchased? Or are they afraid not to have the gold that the people purchased?
Famous last words (Mayor of Hiroshima):
"What the F...."
Once the CME margins everyone but the big guys out of the market, the big guys,with the advantage of free "money" will control the price without owning a single ounce. CB's are using "free printed money" to take over the gold market and frontrunning Asia's attempt at real money.
Cheer up, the sheeple are being condition to sell at the high just before the currency collapse.
just to throw this out there, I got off work early and had time to catch the coin shop while it was still open on friday. got there half an hour before close and all he was willing to sell by weight was two .75tO coins, some random austrian mercantalist union things. everything else was individually priced, had his .9tO american coins priced at $55, can you say physical/spot price divergence? gonna check out a couple other shops in the area today to see if they are doing the same.
I could give two sh*ts about what is printed on PM prices, margin hikes etc.
When the price falls and I stop by several coin dealers and they have almost nothing for sale and the little they have is priced way over spot something tells me that all isn't as it appears.
I'll continue to buy the dips and stack in the safe for someday.....
Maund warned you: http://www.clivemaund.com/article.php?art_id=67
streetmoney21 warned you: http://www.youtube.com/user/streetmoney21#p/a/u/4/JXHekDvgAtY
And I even told you what AGQ puts I bought: http://www.youtube.com/watch?v=ElF5POx-8j0
Is this a clever way to destroy capital after making it and loading at the front end of the economic engine, then burning it away at the expense of speculators? (We know the Obama admin has declared war on the evil speculators).
Or
Did did bankers suspect that higher rates of leveraged speculation put more investment firms at risk of collapse if the gold bets did not turn out as anticipated. Maybe they want to shake out the weak hands to protect themselves (banks) from covering failed leveraged bets. (Kind of self defeating unless it was going to become much worse).
Or
What??
Anyway, I view it as a 15% off sale on precious metals right now. Personally, I want to see a bottom before I buy more- I've never been good at catching falling knives..
added to my stack yesterday, pulled it all out today and looked at it. btfd
Gold is for the fool.
http://www.theglobeandmail.com/globe-investor/markets/markets-blog/gold-...
Paper sucks, you Wall Street fucks! I'll see you vampires in the sun, with my loaded silver gun. Yer 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.)