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Gold/Silver Plunge-fest
Gold down over $100, and Silver down over 15% - someone is liquidating. Rumors vary from very prominent hedge funds to Central European (as in geographically) central banks. Bottom line is, it is a self-fulfilling prophecy at this point and will continue until every last seller is out, and until the margin calls end.
UPDATE: Silver <$30 -17%
Charts: Bloomberg
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and I bought silver at $38
and I bought silver at $38
I'm better than you, I bought at 45!
Dammmmnnn, how many times you going to post brah?
I bought at $1850... FFFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUu
I hope everyone loaded up on some calls, we are ready for liftoff.
wait how do i do that...i need more fiat for more PM's!
wait how do i do that...i need more fiat for more PM's!
Time for the stock dump... afternoon selloff...commencing NOW. A classic sucker rally. "Look were going UP" ! only to be slammed .
would be good to see au stay above 1650...
You and I talked about this number a few weeks ago. It does seem to be a logical place on the line to retrace to AND it could over correct the other way for a bit before coming back here. We shall see. I know nothing is normal, but this correction is not that crazy looking to me.
Prelude to a massive equity sell-off next week.
PM's: Buy and hold physical on dips and short paper on rips. Nothing new.
Banks are selling their gold and silver because they have no money. They do that to raise capital.
Nothing goes up parabolic over the long term.
Physical Silver coins and bullion remain the best investment for the next decade.
The COMEX price is irrevelant and has been. ZeroHedge readers know this. Try to buy some silver coins on Ebay near to today's spot price. Impossible!!
Yeah, I had hope of some deals there as people that bought at the top tried to liquidate. No bargains to be had. Plenty of buyers - SAEs still going for around $46, including shipping earlier today. Maybe this evening - but I'm in no hurry to buy.
I am happy to see this fall. It only positions me for more buying when the bottom is found.
I got out at the high 40's and am working to see where I can back the bigger truck up and get more.
Something tells me to wait a day or two next week. They will stop the tape tonight and the exchanges like Bullion Direct will trade through the weekend.
You gotta have balls for this kind of heavy lifting or... you will experience pain when it does drop. So, no pain. Don't sell physical.
I think the light that is cast on this is from the ever growing inferno of paper shares. OORAH!
So it doesnt look like china is backing up the truck to buy with all those surplus $'s. Which just means to me that the chinese central bankstas are no different than 'ours': They love to print. These scoundrels will not go down without mauling anything in their way. What is happening in the metals is just a test to see how strong the bugs really are.
Still when the dust settles, in this particular version of paper scissors rock, I'll stick with rock!
Prepare for Greek default over weekend, IMF/ECB/FED flash the system with few printed Trillions $$$, Stock Market and Metals go parabolic.. That's why Market is up and Metals are crashing. Coordinated take down, before huge event.. That's why Bernank didn't hit Market earlier.. It's planning it's global and it's coming, this way it's not going to be classified just as FED QE3 but rather World-wide coordinated action.. Watch on Monday and see.. This is only WHY you see Markets are up and Metals are crashed BID down.. Fingerprints all over it..
Hope you're right. Terrified you aren't.
I have watched some MSNews today and everywhere, local, national, PBS, talking heads are saying this is all happening because markets are losing confidence in the ability of governments and monetary authorities to act. I do think they are building up momentum for legitimation for OVERT coordinated action.
destruction at its best, it may go to $1000 by end of year and silver to $15
but I'm holding
King World News and jsmineset might as well shut down their websites.
Zero credibility after this "unexpected" selloff.
using your standard then you ought to quit posting since you've been wrong almost - almost - all the time.
re: jpm, bernanke, new spoos highs, tzoo, hd, vz etc etc ...
long time zh'ers know full well the magnitude of your blown calls. you make nick leeson look like the world's best trader.
robottrader: adding comic relief to a tough day in a tough world.
Robo..You know what to do!!! Stop the devil's ad and get a uhaul
Well Robo, I wouldn't say zero credibility, but you have a point there. The KWN site was full of bullish articles last week about how strongly defended the $1800 floor in gold was.
The year isnt over yet. We shall see.
I seem to recall numerous predictions of a likely correction - down to the $1575 to $1625 range if I remember correctly. Get ready to buy - after the correction (which would convieniently come right before options expire) - is what I've been hearing. That's one reason I haven't bought much of anything since the end of June. Did you bother to actually listen to the interviews or did you just read the headlines? Their credibility is intact as far as I'm concerned.
TRX is trading like a fire in a movie theater.
I'm not a gold or silver bug at all. That is, I am not one of those people that think PMs will be a good store of wealth forever...no matter what happens...
That being said, this move down doesn't have me padding myself on the back or anything...
As of this second, gold is c. $1650...silver is c. $31...
...both of which are still pretty damn high prices.
IF we see another 50% down or something....then maybe I'll be impressed...maybe.
...but even those prices would be historically high...
plunge enforcement team , bitches.
I may liquidate too and buy the us dollar, deflation will hit soon or it already started, cash is king
The "risk off" risk trade (PM) is now starting to unwind. Everything is going down except treasuries when things really start to fall apart.
We are in the endgame...there will be a time to back up the truck, but that time is not now.
The "risk off" risk trade (PM) is now starting to unwind. Everything is going down except treasuries when things really start to fall apart.
We are in the endgame...there will be a time to back up the truck, but that time is not now.
so paulson to shutter by sep 30?
Doubt it. He hates being thought of as a one trick pony so I think he'll stay in the fight. If he does he's a pussy.
The "risk off" risk trade (PM) is now starting to unwind. Everything is going down except treasuries when things really start to fall apart.
We are in the endgame...there will be a time to back up the truck, but that time is not now.
Where are all you homers buying physical silver and gold? PooplaG only takes recommendations from trusted ZH heads. Gracias amigos.
Royal Bank of Canada
The "risk off" risk trade (PM) is now starting to unwind. Everything is going down except treasuries when things really start to fall apart.
We are in the endgame...there will be a time to back up the truck, but that time is not now.
----
Duplicate. In light of so many dupes, it guess its the server?
three months ago there were some ZH members saying silver will be $150 soon, I don't think so, may be $15
Sure, I'll buy your silver for $15 an ounce.
ZH is not psychic, no one can pick the exact date. Adults with intelligence and a little patience will see silver pass $150 and $500 long before you see any stock price move like that. Silver was up 83% last year--can you name a stock that beat that--I didn't think so. Sheeple like you get scared and sell off and awake people buy and hold. The sell off was forced by margin hikes you idiot, not supply and demand.
I'm not z123, so I guess it doesn't count, but:
AAN
ACTG
ADES
AEA
AGM
ALXN
AUTH
AVGO
AXK
That's just the 'A's. I'm not typing in the rest.
Disclosure: Never owned any of the above. Do own PMs. (And since you mentioned it, I am now really wishing I had psychic powers. I would rule the whole damn galaxy like The Mule in the Foundation Trilogy!)
I think silver could drop further. But if it goes to $15, i'll spend most of my digital fiat and then "max" out the unused cards and load up. Yes, silver might well hit $150 within a year. If so, that won't be value, that will be dollar dying, and a good time to have silver.
Where are all you homers buying physical silver and gold? PooplaG only takes recommendations from trusted ZH heads. Gracias amigos.
We are down at the dealers buying more gold and silver. QE-3,4,5,6 guarantees my reward-haha to all you haters.
Time to get myself junked, but here goes, I have to say it.
I own silver, I love silver, but I don't trust it will appreciate until the very end of the paper game.
Central banks can screw with silver because it's a small market, but more importantly, central banks are not buying it like they are buying gold. They are not running up the price on themselves. The Chinese are not thumbing their noses at the Fed and the ECB and scarfing up all they can. There isn't stealth buying by central banks who have promised to only buy so much. Hugo Chavesz isn't demanding the return of his silver. Countries are not nationalizing the output of their silver mines (as far as I know so correct me if I am wrong) as they are their gold output (China).
Therefore, when they launch an attack on PMs, silver gets hit the hardest. As I said, I have silver, but I don't expect any sugar until the end of this abomination of a system.
Countries are not nationalizing the output of their silver mines (as far as I know so correct me if I am wrong)
FYI, China went from a silver exporter to a large silver importer last year.
Given all that. Why do you expect sugar for silver when it is all over?
---
Has Bennie-boy found a way to print PMs??
Just some profit taking and excess leverage...nothing to worry about...
Fundamentals haven't changed. Unless, you think the Chinese population was just cut in half overnight and the US is going to the Corn standard?
They cannot afford to inflate the system with 1900 Gold and Dollar at 73.. I won't short Market indexes over weekend To me looks like bitchez are up to something BIG.. IMHO
Note to PBOC you are broke too. You're not going to be bailing out anyone with your ghost towns and crashing rail system.
Interesting tidbit - APMEX had a bunch of COMEX deliverable 1000oz bars from Penoles in their industrial section.
Either they pulled em off available listing because they were so upside down or the bottom is nearly in and "somebody" needed the metal ?
APMEX is fully hedged--they don't pull inventory like Mom and Pop coin shops.
Interesting that someone actually bought those bars. IIRC, Penoles bars are extremely pure, 99.99+%, and significantly more expensive than other COMEX deliverable bars. You would have to be pretty desperate to buy those to make a delivery.
Whenever APMEX accumulates a significant inventory of those, the Penoles bars are always hte last to go for that exact reason.
silver cougars. load up.
Just got out of the Silvercorp AGM
The CEO is pissed and his presentation refuted the fraud allegations clearly.
Bought my position back today and yesterday after talking w/ corporate secretary.
Where are all you homers buying physical silver and gold? PooplaG only takes recommendations from trusted ZH heads. Gracias amigos.
tulving.com Period.
APMEX - I can't afford Tulving's minimum orders...
Monex has great prices but you must buy in increments of 100.
Westminster...$1 over spot for rounds
Just because some are willing to panic doesn't mean i am going to.
Hell, if i just wanted to be part of a mob gone wild, well, I'd become a democrat.
Or a teabagger. Republicans are saying anything different --at least the ones that get heard. There is no difference --they are all corrupt and must go. Ron Paul will let those who can't afford pricey insurance or if it runs out to soon will just have the freedom to die. This is some fucked up country we live in.
I, sort of, had been thinking that I was the only reader on this site, that hadn't bought $200,000 of gold, at $225 an ounce. Now.....hmmmm.
Just a couple of thoughts about the action in PMs as the week ends.
1.) Did China play this one well or what? They got the USD higher along with US Treasuries and PMs lower. What a window for China to diversify. Sell high and buy low. They almost have to be sitting in stunned amazement at how quickly the market has changed an opened up the window to dump USD's and UST's (at record prices) and buy PMs and other hard assets (on sale). Remember, the key is to watch what they actually do versus what they say.
2.) Nothing has changed from one week ago, one month ago, or one year ago other than all of the so called developed economies being further in debt. As long as the triple threat of poor monetary policy, misdirected fiscal policy, and unbalanced economic condition persist, the long-term outlook for PMs remains strong.
3.) Finally, anyone that has invested in PMs over the longterm has seen this story play out countless times. The so called flight into the safest (a reach, I know) and most liquid assets (USDs and USTs) occurs with everyone dumping real assets with PMs as well as equities and other assets taking the brunt of the hit. Happened in 2008/2009 during the LB and BS failures, happening now (with the European failures coming down the pipe), and will happen again. for me, I will be focused on the miners as they are getting punished and pushed backed to price levels when PM prices were much lower.
I always thought the USD/USTs had one last run left in them before the market finally realized and actually accepted the fact that they are worth about as much as the paper they're printed on. Is this it, might be as its hard to imagine that UST's yields can drop much lower (but I did think the USD would trade higher than 80). So are we at the point of Custerd's last stand, again I'm not sure but when the window opens up with these types of price discounts, how can you not buy?
At tulving.com
JM Only 100 Oz .999 Silver Bars - Brand New Bars
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All 100 Oz Bars Shipped Free Overnight In Our Custom Made Shipping Boxes
Over 300 Bars In Stock.
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Buy @ Spot -10c An Oz
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5 bars minimum
http://www.tulving.com/bullion/johnson_matthey_new_100_oz_silver_bar.htm
Wrong there fdisk: spot -10 cents is what Tulving will pay to buy YOUR JM bars. You would have to pay spot + 89 cents.
http://www.tulving.com/bullion/golden_state_mint_1_oz_999_bu_silver_roun...
1 Oz .999 Buffalo BU Silver Rounds - Brand New Rounds
Shipped Free Overnight In Our Custom Made Shipping Boxes
Over 75,000 Ozs In Stock
YouTube Video Silver Bullion Rounds 1 Oz Silver For Sale
500 Coin Minimum
Buy @ Spot + 10c An Oz
Silver plunge... should not be a surprise.
In 2008 I watched silver, into which I had already put a good chunk of my assets, take a bumpy and rapid ride from $21+ to around $8.50. It was a painful thing to see but a good lesson.
I didn't suffer - partly because I was in bars and coins with no margin, partly because there is no itchy trigger finger to offload physical stuff on nerves, and partly because I had read the subject broadly, inside and out, before getting involved and understood the reasons behind my decision had not evaporated but in fact had multiplied.
Don't invest in gold or (especially) silver until you know why they are in a bullmarket, and you won't get there without quite a bit of effort. Sites like ZH are invaluable for like minds but are not a shortcut to any kind of confident foundation - and that is essential for sitting still in a panic. Do your homework.
excellent post and mirrors my own experience very closely
It takes nerve to sit still.
A thousand horses will run to water, but when the call goes out, one or two will stop.
Mark my words, there is a day a-coming. It aint going to be two duke boys trying to buy the entire market either. It's going to be a mass of Piranhas feasting and breaking teeth on the physical after they have been burned out of the Paper Three Ring Circus Tent.
200 dollar gold and 5 dollar silver decades ago when the news paper told you what London closed at the prior day. I think we will never see those days again.
Maybe 20-25 silver and 1550 Gold when the smoke clears. Enough to max out a crappy credit card or two.
So, will all of those major financial institutions with a $2000 - $2500, 6 - 12 month target for gold stick with their estimates? Or will those estimates be revised? Personally, I think given the environment we have today, the $2000 - $2500 target should remain. The recent plunge is nothing more than a bump in the road at this point. If gold value plunges to the $1300 range, I'll reconsider my evaluation. But until then, I think the long-term outlook for gold is still bullish, considering the serious monetary crisis now facing the world.
"If gold value plunges to the $1300 range, I'll reconsider my evaluation. "
I'll reconsider to sell every other assets and go 100% GOLD, if
that happens. Nothing has been change. Those f*cks will not survive
without further money printing.
I understand that the Traders and the Bugs want to bash each other right now for the fun of it... but for the new people! who do NOT! know what they should be doing!
Buy Low Sell High!
Buy at low prices is good!
if you think that the Central Banks are going to Print more money to Bail Out the Banks AROUND THE WORLD!
then you should by some priates treasure.
if you think that the Central Banks are NOT GOING TO PRINT!
hold on to your cash..
or hedge and do a Little of both!
I would say that this is a WONDERFUL OPPURTUNITY TO BUY!
IMHO.. But I have been wrong before and I will be wrong again and YOU! should always talk to a professional before making any purchases.. after all this is the internet and you dont know me.
disclosure. I own Gold and Silver and I will be buying more ALL the way down and maybe even on the way up depending on how low it goes. I do NOT sell gold or silver, I am not a salesman and I do not get paid to say BUY, BUY! BUY!! I have to pay to say these things.
and for the benefit of the new people who may think that long time ZH commenters know more than they do concerning the unknowable future prices of gold and silver, at what prices would you change your mind?
sub $1200 gold?
sub $15 silver?
At those prices I'd be buying a roll (20) silver eagles and at least one 1/10 oz gold eagle every two weeks. We could be so lucky. I miss those days!
Neither gold or silver prices have never in their history gone to zero. On the other hand, no currency has lasted longer than 200 years. Germany had 3 fiat currencies fail in less than 100 years. That being said.. if silver goes to $15 and gold $1200--I will sell everything I own to get some more!!
... wyciagnac reke na zgode
Peace?
YTD, people. YTD. Ignore the weekly noise.
Nor way!
is our way.
we take 25% for the week
altough it's pretty weak...
BUT NO MORE
It's called a crash. And it makes total sense. It will keep crashing.
YTD, people. YTD. Ignore the weekly noise.
no.. no! sell to me at a discount!
the end is near! hurry and give me a good discount price to take ALL! you have off your hands!
I am willing to help you not lose to much more money (paper / fiat)
think of how much easier it would be for you to carry all the paper I will give you as opposed to how heavy all that metal is!
you cant eat gold and silver but with money you can go to McDonalds and get soooooooooooo many Whoppers!
Paper Folds!
Paper money buys stocks!
Paper money is excepted by the bank!
Paper money does everything Gold and Silver do not!
I am here!
waiting to buy your gold and silver at a discount!
call 1 - 800 - You - Fool! operators are standing buy!
TPTB simply squeeze the most as possible ppl out of Gold & Silver, before the weekend Greece defaults, this weekend. Just my humble opinion.
Silver from $15 to $50 = 50% retrace about 30-32
We are on it.
SWEET!
Thanks again JPM et al for the SUPREME BUYING OPPORTUNITY!!! Keep it up! Get silver down to $7.00 or less. Better still...FACE VALUE for coins. Stock up ZH'ers!
PLEASE!
Don't think for a minute that I believe your charade about FIAT.
One more time...please supress the price of PM's some more.
The Storm is coming. If you are still stupid enough to think that Silver/Gold is for "investment"...well...it is to get your "wealth" to the other side of this $hit storm.
well, let's get serious: 15$ is a non-speculative normal bid. Why do you want to split it in two?
WHEW! JPM made it thru the "short storm" that might have brought them down. Who would have imagined that?
BTFD...Seriously! Buy The Fukking Dip. This may very well be the last one.
Physical Bitchez!!! as in coins in your sweaty hands.
MBW
BUY BUY BUY BUY BUY BUY BUY BUY BUY
Thank God the truck has reverse so I can back it up
What?
Nobody has that much cash.
Wanna bet?
Let's say I sold my house and only need part of it.
Those old super 500 macks had 13 reverse gears if you knew how to run it.
These are Pavlovian markets. When Ben gave them the wrong cookie, they puked assets, including gold and silver. Silver worse because of its dual PM/industrial status.
Remember that gold and silver sold off some in 2008, relatively less than stocks, but still, they are not equity shorts.
Am just a backwoods dude who knows the value of a dollar...i produce more in a day than most of you produce in a lifetime and that's before lunch...fuck you evil banksters...zero hedge on my production...who john galt? yep that's me...let 'er sit in the ground...it's in the bank
...the riverbank. Being a geo, I can let her sit or take
the egg...lost my ass on janus...shame on me. Have never
lost on a trade involving Au, Ag, Pt, Pd, Cu, Pb, Hg...
welcome to realit you virtual pukes...game on-lets do it.
Stay away from Pu.
Paper is backed by my personal promise to perform labour to repay the loan that created the money. Govt paper is backed by their promise that I will be taxed and they have big guns to back up that promise.
Except you don't have a job--so how can you be taxed.
If this is liquidation in Europe, then we're fucked come next week.
Greece default announcement coming shortly. US bank MS or JP counterparty to CDS on sovereign BK announcement coming shortly.
I hope to God this is just plain old paper manipulation.
Dip gives JP/BoE to buy up physical gold to ship back to Venezuela.
Good point. I was wondering if Chavez ever got the gold he requested. They didn't have it in vault, so it had to come from somewhere.
Cuba got it so they will stay quiet about the Chemo Chavy ED boy recieved.
"Gold and the Future" - Martin Armstrong
http://www.martinarmstrong.org/files/Gold%2009-15-2011.pdf
Page eight:
DAILY LEVEL
DAILY REVERSAL SYSTEM
At this time, the Major Daily Bearish Reversals are 178620, 176360 and 175950. The closing on September 15th at 1781.40 elected the first Bearish Reversal warning of a retest of key support. Unmistakably, only a daily closing below 1730 will signal that a strong temporary reaction to the downside will continue for now. Our model suggests that the Major Daily Bearish Reversals are found at 1730 followed by 1642 and 1578, with additional reversals at 1644, 1585 and 1488. It should be noted that one key reversal appears to be very important. We see that a daily closing beneath 1642 may signal that a serious sell-off is likely to follow thereafter. The Weekly Bearish Reversal lies at 1605 and if that gives way, we should see golf test the mid 1400 area.
The Reversal System immediately displays Major Daily Bullish Reversals at 188340. Thus, only a daily closing above 188340 will signal that a strong temporary reaction to the upside will continue for now.
Daily Reversals
Major Bullish 188340 Major Bearish 178620 176360 175950 173080 164420 164220 158540 157820 148840
DAILY COMPUTER RECOMMENDATION
On the Daily level of our model we remain SHORT 1 position. The last SHORT position was taken on the close of 09/12 at 181330. We would look to add another position by selling a Daily close below 178680. We would look to COVER all outstanding SHORT positions by buying a Daily close above 188140 and simultaneously REVERSING into a LONG position. From a timing perspective, you may want to consider taking profit if new lows are established on 09/20 or 09/22.
DAILY TIMING
Using a composite of a variety of timing intervals, several targets appear on the horizon in NY GOLD. The key days for a turning point will be 10/06 and 10/07. The Directional Change models indicate that turning points are due of 09/15, 09/22, 09/23, 09/26 and 09/29. Our Panic Cycle Models suggest that higher volatility is due of 09/20.
...zapuscic weza
1. First of all, a shop should be established somewhere in the New York where you can exchange your physical silver into your physical gold and vice versa. (The technicalities of checking the probe and avoiding the tombac, and vice versa, must be dully addressed.)
2. Second of all, all we know is that we need to withstand just 20 days before the EQE kicks in. The "program" agreed between the central masters of puppets can result in reviving the zombie market of commodities in October. (Hold it babe!)
3. Since somebody already has indicated above that contrary to the title of the ZH post the gold/silver skyrockets, we should be aware that the certain strategy of exchanging your silver for gold may start to be too crowded...
In the wold of paper, amzn can always outperform either gld or slv. /sarc
Amazon is a company that produces goods and services. Gold is useless except for jewellery.
Amazon is not a producer.
You are a pathetic idiot. And you can't spell either. Gold and silver prices only fell relative to the USD, not the Euro or Pound. And that was forced by margin hikes, China will buy up all those PM's over the weekend and prices will be right back up. Amazon does not produce anything--they are a middleman that sells goods produced by others. Dumbassess like you who think they know something are the problem with this country. Go learn something already!!!
Kitco down for the count:
Service UnavailableKitco still works around here
Silver broadband before the weekend flatline: 30-31$
Perfect storm. CB selling to be liquid. Hedge funds with Euro credit exposure and long gold as a hedge are getting crushed on the euro side and need to raise cash. What's the easier position to unwind? Gold. Two big sellers with minimal price sensitivity equals a market getting hammered in the short term. They are clubbing this thing like a baby seal. MoMo players jump in the game.
Good time to add some length in a way that will let you sleep at night. Me? I bought some SLV calls in my trading account and some 90% in my phys stash.
Now I will go back to sleep.
Jim Sinclair, the most respected and accurate long term gold analyst in the world just issued this headline:
Market Violence Will Create Large Bear Trap"Dear Extended Family,
A quote from CIGA Eric today completely encapsulates what we are experiencing in the gold market:
In conversations with Kenny we examined the worst case scenario in terms of the correctness of Eric’s comment with which we both totally agree.
Our conclusion is:
Market situations like this will be found to have held and created bear traps in several instances of similar pattern action over the past 30 years WITHOUT having continued further down to first major support. The current corrective pattern over the past 23 trading days strongly implies that the move below $1690 would continue on down to the core at $1665 at minimum as first bottom, and in the extreme to $1615, but not below $1584. This will happen prior to exhaustion and a return to the full bull trend.
So far the remaining successive levels of $2450/$2510; $2850/$2900, and $3280/$3330 are not affected.
Gold shares are being impacted by a field of problems as a result of the large short positions held in almost all. They are being taken advantage of today by pressuring the entities in hopes of causing long term holders to collapse in their commitments.
Respectfully,
Jim"
i am wondering why nobody mentioned the stronger USD. What usally results in a weaker Gold price, since it's traded in that fiat money. The smart ones buy here, at the lowest price today.
First post ever bitchez....think my name is fitting today. BTFD!
For those interested in the swing for cash using paper PM... IMHO if we reach around 1590 (GLD 154) in two to three weeks we will be back to the bullish 3 year trend-line and positioned for a nice climb in Q4. If we brake through that, we might be repeating 2008 all over again... 6-9 months 25% down. My money is going to be on the up ramp with a 2% stop, but if this is 08 again... Fantastic time to pick up phys at the bottom of the 6 year trend-line.
Disclosure: I'm not as experienced as some of you here so don't use this as investment advice... But I did manage to sell the pin on april 29th after the brake-out of April 5th for a great ride (not completely useless).
Your input is always welcome!
go ahead
print silver at 29 $ and change
i dare ya....
bunch of walrus whackers..
And just like that APMEX is out of 1oz and 10oz Gold pamp suisse bars - They had hundreds last night
Gold dumps, silver dumps, but the beer still is cold and the ladies still look marvelous. What's the problem?
FIrst of all, don't underestimate the power the of the Central Banks to maintain fiat and the US to try and hold on to Reserve Currency. Even though China and Russia despise the US in this role, they would do the exact same thing (inflate the currency) if they were in driver seat.
Whlie China may be buying gold, they are working to try and get a piece of the Reserve Currency action. So instead of going to a gold standard, the next likley evolution when the US shit hits the fan will be for a negotiated basket of currencies being the Reserve Currency versus just the dollar.
As much as I understand and detest the fiat system and what it has evolved to, I would not bet the ranch with PMs. Perhaps 10-20% max and heavily weighted in gold but with a mix of silver too. All physical or funds that hold the metal (like Sprott) even if you have to pay a premium.
It's just that this financial mess can and probably will go on for years. The Central Banks are very, very afraid of PMs gaining traction around the world as a massive buy-up of PMs around the world is what could actually cause the hyperinflation of the fiat currencies. So the Central Banks and governments are going to smack it down when and if they can. This latest ruse involves Bernake making everyone believe that no more QE is coming. Bullshit. And they let the stock markets sell off some, but will prevent further sell down with leftover QE-2 funds. So this was intentional to push down PMs until the next round of QE is announced sometime down the road.
Dont' put all your money in PMs. As stated by others, recommend buying only physical or physical backed. Buy for long term only unless you think you're smarter than the Central Banks.
My two cents.
I don't know if I'm smarter than the Central Banks, but I like to have a little more than 1's and 0's spinning around on some hard disk at who knows where?
I wish people would stop using the word "bubble" to describe gold and silver prices. Gold and silver are not going to announce lower profits next quarter. I think "overvalued" is a stronger word.
Let's call it off.
It's time to have a beer and dig some chicks.
True love for those who went from 40 to 30.
Partey for th cautious going from 44 to 53 on gold/silver.
I just used some spare cash to add to my silver and bought 2 10 oz APMEX Silver Rounds and 20 2011 1 oz Silver Canadian Maple Leaf from APMEX. I feel fucking great!
I can't lose: if silver goes up, I'm smiling more. If silver dips another $5 next week, I'll buy more with my credit card and pay that off next paycheck. If it dips another $5, I'll buy more with my credit card, etc, etc... I will be sitting on this silver for at least 2 years.
When my sheeple brother asks me how much my silver is worth, I'll do a quick calculation in my head and say "It's worth xx ounces of Gold" :-)
Interesting day
For some reason Im not feeling any of the fear.
Would just like to say>Whoever invests make their own decisions,Tyler does not owe you jack shit.He submits articles,writes and has his own opinions,after all it is his place of work and this is what he does .
Some of you Tyler naysayers just need to move on .If you let a website make your own mind up on one or two articles to make a financial decision that,you cannot probably afford to make ...Blame yourself.
Speaking for myself,I listen to Jim Puplava,Kingworld news,Used to listen to Max Keiser and all the PM people but..........I make my own decision on multitudes of information that most do not even need.
Its simple really.Do not let the negative ,evil,influnces of this NWO lfe get you down,thats what they want....You down on the ground,broken or dead or both.
Websites with people TRULY trying to help the public are not at fault yes they are human they can make a mistake but so can you so, get over it,
Do not let the powers that control the shitstorm divide the people that actually all have something in common which,is to end the corruption of the planet and try to peacfully coexist living a happy,loving life.
Stay within your means,do not leverage (Dave Morgan,Peter Schiff)
Hold U.S. Fiat,Gold,Silver Physical thats all you need to know.You are getting a second chance for the metals very soon if not now.
To whom this may concern;
Please ......just quit blaming Tyler for your loser life
He and Zerohedge offer a lot more info 'That matters' than most sites.I for one appreciate them and all they do.
100 oz bars at Bullion direct for $3,303.27 at this time for who wanted to know.
Would still wait a bit
Keep crushing the silver fiat price, militant bankster mother fuckers, cause it will fuck you up the ass in the end as every stick of physical gets bought out of the market, and you are one step closer to choking on all yer paper bullshit silver, naked shorts, and all of your other black magic paper horse shit. I fart in your general direction, you destroyers of world economies, you pestilent bum fucking pecker headed retards ! I'll sit on my little pile, crack open a beer, and drink it rather than pouring it on you to put out your burning paper suits, assholes! Then, I'll go buy some more cheap silver, thank you very much !
Thanks for another PM sale!
There was always something odd about the recent about turn of the large bullion banks and their MSM promoting the idea that gold was a viable asset class. Of course gold is the only form of insurance that will survive this next phase of the greater depression, but there was something distinctly odd about dyed-in-the-wool paperbuggers promoting a theme against interest. It walked, talked and smelled like a pump. Well, welcome to the dump. Just one more plate of a cupboardful being desperately spun. The gold dump is a sweat act. Enjoy the discounts, while they last. Gold is money and nothing else.
Everyone I know bought PMs today. Wait until news comes out which sovereign funds grabbing a few tons at this price.
Bankers hate gold (and silver). It shows.
Monedas invents the perfect ash tray for all the Nervous Nellies who are smokin' their butts off during this little correction ! Take a clean tin can, size optional, with the top removed and cover it with a piece of galvanized, rabbit cage wire ! Crimp the wire mesh around the rim of the can so if it tips over the worst of the mess is contained ! Push a shallow depression in the mesh so the cigarettes, cigars or joints don't roll off ! Choose a wire mesh whose squares are big enough to pass the butt when you're finished smoking ! You could cut a cigar hole in the mesh if desired ! Monedas 2011 Throw out all those clunky ash trays you actually paid for with your Silver hoardin' money !
Poor man's ash tray for those who don't want to go to the hardware store or can't find a suitable scrap of wire mesh ! Place a slightly larger tin can, upside down, over the original can ! Take a can opener or sharp knife or ice pick and perforate the covering can to accomodate your smoking requirements ! Monedas 2011 Solutions to life's problems for every budget !
OMG, the reason gold ans silver AND copper (Which may be the next silver...) went down is because its option expiry is on tuesday and the system takes shorts positions, kills the longs with premeditated margin increases, blows the price down, and then covers at the bottom of the longside liquidation. Pretty simple, and very lucrative. Look at the charts for the May expiry and the resulting dmg from the 5 margin increases. Sucks to be a newb and not know how it works and lose.
They only do that when they don't have anything else to do and they're bored. Sometimes they take down a nation's currency on a dare or destroy a whole industry.
But, hey, they got all the blue chips stacked up in front of them and it's their dice.