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Precious Metals Surge As QE3 Now Merely A Formality

Tyler Durden's picture


We dont have real time pricing on spam, but luckily we do on gold and silver. And to all those who BTFD in the past 2 weeks as we suggested, congratulations. Next up: another futile CME margin hike which will do nothing but confirm that a standalone gold standard is imminent.



courtesy of Bloomberg


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Fri, 09/02/2011 - 09:05 | 1625874 Inibo E. Exibo
Inibo E. Exibo's picture

Good morning, America.

Fri, 09/02/2011 - 09:09 | 1625910 WonderDawg
WonderDawg's picture


Another day, more QE speculation, more gold and silver pumping. What's new?

Fri, 09/02/2011 - 09:19 | 1625984 thermroc
thermroc's picture

Everyday is new. Will this be the day the rotten hulk cracks?

Fri, 09/02/2011 - 09:27 | 1626039 Bullionaire
Bullionaire's picture

Unless Blythe succeeds in whacking silver for at least $7 before today's close _grin_ Tuesday will be Day 36 of the negative JPM:SILVER ratio phenomenon.





Fri, 09/02/2011 - 09:39 | 1626103 LvMises
LvMises's picture

Does anyone think $44.95 is a good premium for Maples? I found these guys on Gold Shark:

Fri, 09/02/2011 - 09:45 | 1626132 spiral_eyes
spiral_eyes's picture

Nouriel Roubini is looking like an idiot today...

Fri, 09/02/2011 - 09:58 | 1626209 Bringin It
Bringin It's picture

Nouriel the Bankster shill.

Fri, 09/02/2011 - 10:11 | 1626280 Hearst
Hearst's picture
  • Add doubting Dennis Gartman to the shill list.  Who recently said Gold was the 'one of the great bubbles of our time' and had finally popped!


Bought out banker agents.  Know these cocksuckers for who they are.

Fri, 09/02/2011 - 10:48 | 1626459 sheeple2012
sheeple2012's picture

LOL Gartman,  I am short of him...

Fri, 09/02/2011 - 11:55 | 1626759 Pegasus Muse
Pegasus Muse's picture

the dickhead probably shorts his own advice.

Fri, 09/02/2011 - 12:48 | 1626940 Smiddywesson
Smiddywesson's picture

If it's a bubble, it's a bubble that forms every time a currency is destroyed.

Bubbles don't reinflate, especially after vertical prices and margin hikes.

It just shows that most of the "experts" out there are really just copying each other and spend no time whatsoever reading history and looking at the big picture.

Idiots proven wrong, over and over again, for ten years.

Fri, 09/02/2011 - 14:45 | 1627342 akak
akak's picture


Don't you know that reading history is subversive and unpatriotic, and soon to be outlawed by Patriot Act III?

War is Peace

Freedom is Slavery

Ignorance is Strength

Paper is Money

Government is Your Friend

Fri, 09/02/2011 - 10:03 | 1626243 DosZap
DosZap's picture

Nouriel, looks like an idiot  most days, what's new.?.....LOL

Fri, 09/02/2011 - 09:47 | 1626144 WarriorClass
WarriorClass's picture

Yes, Kitco is at $46.53, but most dealers are 5% over spot price.  So you have a good deal.

Fri, 09/02/2011 - 10:05 | 1626258 DosZap
DosZap's picture

Do Not buy from Kitco if your not in Canada.The shipping willl kill need to buy outside US,if you live here.

Fri, 09/02/2011 - 10:08 | 1626271 FeralSerf
FeralSerf's picture

Tulving is $34.95 over spot for Maples.

Fri, 09/02/2011 - 13:51 | 1627158 EINSILVERGUY

At todays spot price Yes,

Expect to pay about $3-5 dollars over spot for Maples or ASE's.  Gainsville coins is reputable.  I have bought 5 figures of PM's from them I have never heard of Texmetals.


Fri, 09/02/2011 - 10:41 | 1626432 Solid
Solid's picture

I didn't need that image.

Fri, 09/02/2011 - 10:56 | 1626499 RealitiveMind
RealitiveMind's picture

I know it's the fight club and all, but if I might point out that Zero Hedge is probably the most accurate source of information I am aware of, and as such, there is a wide spectrum of readers.

I happen to have been blessed with a couple of smart kids, (both started college before they were teens . . . it must skip a generation), and we discuss the topics from here almost daily considering this melt-up/melt-down will likely affect them more than us.  They LOVE the sarcastic/dry humor and the fact that there are some incredibly smart people lurking around here who in a strange way, are their peers.

When you post things like SUCK IT HARDER YOUR HAIRY ****!!!, it makes it very uncomfortable to sit with my daughter and read through them.  I might add that it doesn't put you in a particularly good light.  We have a standard of behavior in our family that is simple . . . if you wouldn't say it in front of Grandma, then you shouldn't say it.

I know I will likely take a beating for saying this, just trying to help my kids have access to great information.

I think it would be a good idea.
Mahatma Gandhi, when asked what he thought of Western civilization

Fri, 09/02/2011 - 11:07 | 1626549 gmrpeabody
gmrpeabody's picture

Hey..., you're that "stay thirsty" guy, aren't ya?


btw... I agree with you.

Fri, 09/02/2011 - 12:33 | 1626878 Transformer
Transformer's picture

What sarcastiic/dry humor?  You mean this shit is spose to be funny.  The middle class getting boned, America destroyed.  That's funny?  But I'll tell you what is funny, some some guy trying to make a case for censorship.  You're probably the one that can't deal with your daughter reading it, not her.  Young, well educated people talk about everything with a frankness that our generation could not even conceive of.

Fri, 09/02/2011 - 13:27 | 1627081 RealitiveMind
RealitiveMind's picture

Do you have a daughter?  It might change your perspective.

Do you have a sense of humor?  There some very funny people posting here, I love it, global domination not withstanding.

As I wrote earlier, and you took out of context, I was merely pointing out to the people who care, obviously you don't, that we have kids reading our favorite site.

All words are fair game, the first amendment is essential, decorum optional.

When you speak for all well educated young people, I have to laugh.  Apparently you left out a sub-group of classy, respectful young people.  Those are the ones I see over at our house daily.

Fri, 09/02/2011 - 11:13 | 1626587 packman
packman's picture

A big +1 on that.

ZH is a fantastic source of information - quick, and thorough, and (usually) accurate.  I just wish it were written in a much less hyperbolic and tabloidish style.  I suppose it goes along with the author's background (I won't say who because he apparently intends to remain anonymous, but you could probably figure it out).  I just wish he would rise above.  It would lend a lot more credibility to the site, and as a result do a lot better job of "getting the message out".

To me an ideal site would be a cross between and zero hedge - something that's written thoughtfully and civilly, but also provides in-depth current news.


Fri, 09/02/2011 - 11:39 | 1626607 gmrpeabody
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But I like Tyler's style..., a little "attitude" is just what the doctor ordered.

Fri, 09/02/2011 - 11:19 | 1626618 unununium
unununium's picture

Topic for conversation with kids: Does Blythe Masters deserve the abuse?  Discuss.

Things to remember: friends, relatives and neighbors who have lost jobs, retirement accounts worthless, diminished economic prospects for youth, societal decay.

Fri, 09/02/2011 - 11:48 | 1626724 RealitiveMind
RealitiveMind's picture

Does Blythe deserve the abuse?

Every time I hear that name I can't help but think of Blythe, California.  Have you ever been there?  Many folks have driven through as it is on a main LA to Phoenix artery.  I suspect that right now it is 120 degrees and talk about a harsh environment.  That is my vision of Blythe.

On the other hand, in my experience most people don't know they are evil.  She started with Satan and Co. as an intern during college and has been there ever since.  She doesn't know anything else.

Fri, 09/02/2011 - 11:55 | 1626757 unununium
unununium's picture

Is shearing sheep and slaughtering livestock "evil?"  That's how these people think of it.  The answer of course is that treating human beings like livestock is the very essence of evil.

PS Get advice from someone who skipped grades, skipped high school for JC, etc. before you curse your kids by doing that to them.

Fri, 09/02/2011 - 12:44 | 1626923 RealitiveMind
RealitiveMind's picture

I don't know if she is a member of the Fabian society, but your characterization is consistent with her choices.  I'm just saying that given the culture she lives in, she likely doesn't see it that way.  It seems consistent with Darwin.

My kids did not skip grades, (until recently anyway, see below), their college is/was concurrent.  They both have a unique interest in a particular area and could not get what they wanted, so we had to look outside.  Many of their classes are on-line.  The oldest was bored to tears with high school and just recently finished two years early so she could focus on college and her business.  The youngest just blows my mind and he is the funniest kid I know.

They will be going to the opening game of the high school football season tonight and always go to things like school dances.  We live at the beach and spend a lot of time in the water.

I don't know what your parents did to you, but these kids live great lives.  We travel a lot and they don't see the world myopically.  They are surrounded by family and love.  Their friends are wonderful human beings and the whole group of them gives me a great deal of hope for our future. 

The one thing that distinguishes them from us, (collectively), is that they don't compete, they collaborate.  Sharing and giving is stress-free compared to competition.  BTW, I love being a Dad.

Fri, 09/02/2011 - 12:57 | 1626971 Smiddywesson
Smiddywesson's picture

Er..I'm not a Bible thumper, but I don't think God cares how Blyth sees things.  She and her ilk are evil.  There is just no way around it.  Sorry.

Defining what is good and bad according to what your peer group says or what you personally think is the hallmark of an evil person.  Subjectivism can justify anything.

Fri, 09/02/2011 - 11:20 | 1626621 Jreb
Jreb's picture

You sir - are correct. I have a ten year old son who is very bright who is ready to start learning about the real world. Unfortunately, I am loathe to allow him to read here because of the lack maturity amongst some of its posters. I will remain however - a loyal ZH reader. Keep up the great work Tyler and welcome Mr. Realitive.

Fri, 09/02/2011 - 12:22 | 1626849 Calculated_Risk
Calculated_Risk's picture

who is ready to start learning about the real world



So, in your "real world" nobody gets nasty and vulgar? They all sit around and sing kumbaya?


Fri, 09/02/2011 - 12:36 | 1626898 Transformer
Transformer's picture

Yeah, that's it Kumbaya, and Row, Row Your Boat.

Fri, 09/02/2011 - 11:22 | 1626624 Jreb
Jreb's picture

Crap - I post twice a year and this time it's a double - sorry folks.

Fri, 09/02/2011 - 11:41 | 1626696 gmrpeabody
gmrpeabody's picture

Does this mean that you can't post till next year?

If you don't reply, I will know your answer.

Fri, 09/02/2011 - 12:14 | 1626825 clymer
clymer's picture


Sorry, Bud. Not everyone is as crass as the originator of the comment. That being said ..welcome to the internet.

If that offends you, you should be be incensed at the manner in which your Nation is being gang-raped by a small cadre of control freaks.


Fri, 09/02/2011 - 13:03 | 1626998 RealitiveMind
RealitiveMind's picture

It doesn't offend me, I didn't say that.  I believe the first amendent should be defended, all words, period.

My comment was directed toward those of us who might be more selective when kids are around.  I used to live on a golf course, think we don't hear F-bombs all day?  But I have noticed that the golfers were more respectful when kids are around.

Fri, 09/02/2011 - 14:11 | 1627243 Lazlo Toth
Lazlo Toth's picture

You are a good man.

If your daughter is underage she may not want full Thunderdome exposure.

I do appreciate your educating them in the ways of the world.

Some of us here don't have full decency in conduct.

But most of us here don't expect children about.

So... I think explitives as such should be limited when they dont have a use.

But she should know that coming here, there are a lot of stinky, sweaty, hairy, men and women.

Kings and countrymen - paupers and thieves.


Fri, 09/02/2011 - 15:20 | 1627483 RealitiveMind
RealitiveMind's picture

Thanks Toth.

As a postscript, I told my daughter about this thread.  She thought about it for a few seconds and said; "thank you Daddy, I love you", man that kid is something.  Then she briefly detailed her thoughts about school.  I will paraphrase.

When they put me in the advanced classes in junior high, I hated it and was stressed.  I wasn't learning more, just doing more work.  When I got to high school I enjoyed the social aspect and because I didn't take a full load of AP, I wasn't overloaded so college became interesting.  By switching to an on-line high school I began to see that there is a whole world out there during the day, with people doing things and being productive.  That motivated me to get high school out of the way so I could start my own business.  The classes I was taking in college were the same as the ones I was taking in jr and sr high school mostly.

What I really like about college is that you can just talk to anyone.  In high school, everyone says don't judge, but they all do, myself included.  Being stuck in an environment all day with people that have minimal differences in mannerisms, dress, perspectives, is not diversre and enriching.  In college everyone dresses casual and nobody cares.  I interact with people of all ages daily.

With my business I have learned that if you don't perform, you don't get paid.  In school you can slide along and nobody at the school would care.  I also get to have my brother help me on projects and we share in the profits.  I learned that I can count on him and trust him.  My friends are still my friends because they truly don't judge me, but they do share their opinions.


As for the language thing, I think one poster got it right when he said it was me who was uncomfortable.  My daughter says that is because I want to protect her and she's right, I'm her Dad and I love her more than anything in the world.

Fri, 09/02/2011 - 12:51 | 1626953 Smiddywesson
Smiddywesson's picture


Fri, 09/02/2011 - 13:55 | 1627183 EINSILVERGUY

Add me to that list

My father always told me the "Profanity is the crutch of an inarticulate person" 

I often swear like a sailor, so the lesson hasn't completely taken hold



Fri, 09/02/2011 - 14:04 | 1627219 Are you kidding
Are you kidding's picture

Descriptive language is part of life...if they're REALLY smart, they'll realize "they're just words".  Boys should be allowed to be boys, haven't we been feminized enough?

Fri, 09/02/2011 - 19:57 | 1628516 ToInfinityAndBeyond
ToInfinityAndBeyond's picture

As a woman who is comfortable with every hard "c" word in the book, and who has used f*ck_ in front of her conservative grandmother when necessary (even though she thought it excessive), I wholeheartedly agree. As a group, we are smarter than this and can hold ourselves to higher standards.

Fri, 09/02/2011 - 19:57 | 1628519 ToInfinityAndBeyond
ToInfinityAndBeyond's picture

As a woman who is comfortable with every hard "c" word in the book, and who has used f*ck_ in front of her conservative grandmother when necessary (even though she thought it excessive), I wholeheartedly agree. As a group, we are smarter than this and can hold ourselves to higher standards.

Fri, 09/02/2011 - 09:21 | 1625997 oddjob
oddjob's picture

What's new?

Your incredibly bad calls look even worse today.

Fri, 09/02/2011 - 09:22 | 1626003 fuu
fuu's picture

I snickered.

Fri, 09/02/2011 - 09:49 | 1626152 WonderDawg
WonderDawg's picture

You talking to me? What incredibly bad calls are you referring to? I haven't made any calls on here, have I? The only recent trade I made was buying some BAC at 6.60 and selling at 7.95. Other than that, I'm keeping my powder dry.

Fri, 09/02/2011 - 10:15 | 1626297 RockyRacoon
RockyRacoon's picture

You're the guy at the horse track waving around his winning ticket... while standing in an ankle deep pile of losing stubs.

Easy to spot.

Fri, 09/02/2011 - 10:31 | 1626385 WonderDawg
WonderDawg's picture

Not likely. I rarely talk about what I'm doing, keep my cards pretty close to my vest. The only reason I mentioned it was the guy who posted above. I've made plenty of bad calls, and a lot of good ones, but you don't generally find me posting them.

I guess I've just got QExhaustion, and it seems that every day that's all we do is speculate about QE. We did it for months before QE2 ended, we did it for months before Jackson Hole, now we're doing if for September. Whatever. Ultimately, we get the same outcome, QE just brings into question the extent of the damage.

I guess it was the gold and silver pumping comment that got everyone riled up. I like gold and silver. I own some physical. The higher it goes, the better off I am. I wish I had bought more when I first started buying, but I think most of us could say that. The point I was trying to make was, it seems every thread is a repeat of the last one, and the topic of discussion never changes much. But that's just me whining, I guess.

Have a good un.


Fri, 09/02/2011 - 10:34 | 1626402 Bob Paulson
Bob Paulson's picture

Get more metals. You'll whine less ;-)

Fri, 09/02/2011 - 10:49 | 1626420 WonderDawg
WonderDawg's picture

That's the plan. Always has been.

edit: but that doesn't mean I'll whine less ;-)

Fri, 09/02/2011 - 11:29 | 1626659 slewie the pi-rat
slewie the pi-rat's picture

hey, w_dawg!  odd_job got in a pretty good punch there!  ya want some chees w/ that whine?  when i saw yer nearly-identical comment, yest, it  had ~25 green flags!  i just checked the crimex deliveries and yest's inventories, and gold deliv volume is nice and high (daily & m-to-date), w/ blythe taking quite a few, this AM and silver w/ less vol deliv w/ HSBC involved.  no changes in the players, there 

your "pump & dump" certainly didn't go unnoticed, here!  but slewie thinks it is a valid obsevation esp given the "takedown" last month around the options expiry on the crimex.  the options play has been incredible in gold (silver, too), if one takes the time to try to understand the weekly cots reports.  those of us who don't "trade PMs to make 'money' " know that our PMs are not for now.  we aren't gonna go uninsured, here, no matter what the "cash value" of the "policy" becomes as the banksters try to grab everything they can.  PMs are for later, or, if we're forunate, for our children. 

after risk on, we now have:  yep, risk off, BiCheZ!  and apparently sac was not able to remove the Q & the E from tyler's keyboard as i suggested yest and just buy him some good booze to get him started early on the weekend while "all europe is on vacation" (t.d.) and ready for next, we're stuck with it, and should continue to whine a bit like the good soldiers we are


Fri, 09/02/2011 - 09:07 | 1625880 Long-John-Silver
Long-John-Silver's picture

Infinity and beyond  Bitchez.

Fri, 09/02/2011 - 09:44 | 1626125 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1870

As has been recently predicted, it IS QE3 now, and likely to infinity.

I still lay more of the blame on our .gov's inability to control spending, it's ALWAYS the spending that has destroyed republics and empires.

Fri, 09/02/2011 - 10:00 | 1626220 Bringin It
Bringin It's picture

Come on DCRB.  The Banksters run .gov

Fri, 09/02/2011 - 11:44 | 1626709 DoChenRollingBearing
DoChenRollingBearing's picture

I would not go that far, but clearly there is a LOT of power and cross-fertilization between the Banksters and .gov in both the Administrations (Bush and Obama <--- especially) as well as Congress and the beauracracies.

Run the government, not quite.  LOTS of influence, you are correct.

+ 1, good point, but not 100% correct.

Spending is STILL Problem No. 1.  Ancient Rome and ancient China (etc.) fell because of their .gov spending, not by Banksters though.

Fri, 09/02/2011 - 12:42 | 1626922 Transformer
Transformer's picture

Who are you kidding?  JPM IS the FED.  Goldman IS the Treasury.

Fri, 09/02/2011 - 19:58 | 1628523 Bringin It
Bringin It's picture

DCRB - Spending ... over-Spending is a Bankster program.  Without overspending, they can't maximize profits.  That's why they're historicly so keen on starting wars.

Re. Rome - 48 B.C. Julius Caesar took back from the money changers the power to coin money and then minted coins for the benefit of all. With this new, plentiful supply of money, he established many massive construction projects and built great public works. By making money plentiful, Caesar won the love of the common people.

But the money changers hated him for it and this is why Caesar was assassinated.  Immediately after his assassination came the demise of plentiful money in Rome, taxes increased, as did corruption.

Eventually the Roman money supply was reduced by 90 per cent, which resulted in the common people losing their lands and homes.

Re. Ancient China - Kublai wasn't a bankster per se, but he printed and printed the original paper money until the economy collapsed.

Fri, 09/02/2011 - 13:38 | 1627113 Max UK
Max UK's picture

"Come on DCRB.  The Banksters run .gov"


Lets keep an open mind because it might be neither; mebbee both serve in co-ordinated fashion, some higher level of a hierarchy that we do not see.

Just sayin'.

Fri, 09/02/2011 - 12:55 | 1626964 A Nanny Moose
A Nanny Moose's picture

Lost decade x2, here we come. Maybe we will start a war wtih aliens before it comes to that.

Fri, 09/02/2011 - 10:52 | 1626480 BoNeSxxx
BoNeSxxx's picture

Gold = Platinum @ 1880.

PARITY Bitchez

Fri, 09/02/2011 - 11:52 | 1626742 DoChenRollingBearing
DoChenRollingBearing's picture

11:45 AM

Au = Pt = $1874

FOFOA says that Ag and Pt will get left behind as gold moves to freegold prices.

Fri, 09/02/2011 - 12:47 | 1626934 Transformer
Transformer's picture

FOFOA really nailed it with the Hyperinflation commentary.  But when it comes to gold vs. silver they are just playing out some stupid Ford vs. Chevy fantasy like my dad's generation.  Silver has been money on the planet, more than gold.  They will both be money again soon.  Saying gold is the only money is stupid.  What are you gonna do?  "I'd like a burger and a beer, and here is my 0.01 gram flake of gold to pay for it."  That is so stupid as to be not even funny.



Fri, 09/02/2011 - 13:10 | 1627017 Smiddywesson
Smiddywesson's picture

After QE stimulus failed, central banks and soverign nations, all over the world, at the same time, began buying gold, not silver.  Silver is going to the moon, but not until after the central banks conclude their acquision of gold.  Silver is a small market, and they have shown plenty of ability to slow it down while they buy gold. 

What are you gonna do?  "I'd like a burger and a beer, and here is my 0.01 gram flake of gold to pay for it." 

Poppycock.  This argument assumes we are going to see commerce conducted in physical gold.  We won't.  You will never see gold coins in circulation.  Gold is far too valuable.  Still, that is an empty argument against some form of gold standard being unworkable.  Do you currently get paid in cash?  You probably don't even see a check, but get direct deposit.  The argument against a gold standard ASSUMING everyday trade will involve the transfer of physical is ridiculous.  We have plastic for that, and may also have another form of gold-related cash.

And no, I don't believe the banksters will adhere to a strict gold standard.  It will be a bastardized version of a gold standard that they can cheat over the years.  That's their M.O.  They won't veer far from their usual practices.

Fri, 09/02/2011 - 14:08 | 1627233 BenLightYear
BenLightYear's picture

Your error is in the thought that we will be using gold and silver to purchase goods at the store. The chance of that happening are smaller than the chance Obama is actually going to come out with a jobs bill that actually creates jobs. Gold will go parabolic while silver rises as things worsen because their is not enough silver to use as a currency backer. Silver will have a great rise however it's rise will pale in comparison to golds.
My theory: CB's were net sellers of gold up until last 7-10 years on account of the prevailing thought that we were headed towards a fully digitalized currency. In that world the fed and the govt and the banks of any country could control, manipulate and create money as they choose and in a cashless society where all the money is tightly controlled gold would lose it's necessary place and with it the fundamental need it provides. When they realized that their plans were doomed for failure just like any other effort at central planning throughout history done on a long enough scale it occurred to them they gonna need their real money back.
We all talk about the transfer of wealth that took place with wall street and the banks a few years ago. It seems strange that what gets less talk is the current wealth transfer that will make those bailouts seem insignificant. That is the cash for gold stores. It has been so long since society as a whole recognized gold as money and more importantly wealth that handing over your wealth for Benny bucks seems like a smart thing to do. You have to ask yourself something. If the average person is selling their gold and the refineries are all still accepting it that means their must be a buyer. Wo is that buyer?
My guess is that the buyers are those who know what is coming not because they read sites like zero hedge but because they make the rules. Now their rules don't always work out for them...see euro...however to count them out of the fight is quite stupid. I was told by a very smart guy along time ago to invest in what the rich invest in. Since I make 40k a year that means I am unable to buy farmland, entire companies along with my own ratings agency ( if I could buy BAC preferred shares I would have bought just like our estranged uncle) so it means I do the best I can with what I have. That means buying and selling stocks based on the bull bear momentum without trying to catch the tops or bottoms and ever since the plan of the .01% has obviously failed that means for the last 5 years gold and silver.
For the record I am 80/20 heavy on gold. I like silver for the reason when gold resumes it's natural place ie determining the place in the world of people and countries in regards to credit worthy wealth the average person won't be able to afford gold. That is where silver comes in. If you believe you are going to be able to sell ounces of gold to your local coin shop at 50k and ounce maybe you should ask them next time you go in how many ounces they could take off your hands.
Gold is a play of sanity. To not own physical gold right now means you are either devoid of any intelligence or too busy watching fox news. To not own any silver right now means close to the same. To own only one means you are not seeing the big picture clearly.
The plan of those who make the plans has utterly failed in every sense. They are now scrambling to cover their asses. Play along or get played. Never before has it been so simple and easy to see the best play.
Next time you go into the coin/bullion shop compare how much gold they have to how much silver they have than compare that to the ratio you could purchase it. I live in the suburbs of a huge city and have business's card in my wallet of over 20 coin shops. A few I would never walk into again and a few I walk into weekly. Of all the coin shops I have ever walked into their stock of gold to silver has never been greater than one to a few hundred ounces. If it isn't clear that the whole BUY SILVER rush was put out to keep you from buying gold then obviously you are as muc a lemming as those who buy Netflix and chipolte. Free thinking is what gave this country our prosperity and the lack there of currently is what spells our demise.
In regards to an earlier comment from a poster about language I have to assume you are joking. My 10 year old daughter reads certain articles on this site ( the ones she is able to understand the meaning of and not be bored to shit with) no offense Tyler it's just to some of us the machinations ofnthe stock market don't mean much since it's nothing more than a ponzi vehicle meant to keep the masses from actually acquiring wealth. Not too say it's unimportant or unnecessary those articles are just the ones I skip over. Back to my point. My daughter is aware of the silver BITCHEZZZ and the vulgar language and the tit avatars and glides right over them. She is only 10 and already understands people express themselves in that way. To try to keep her from ever reading or hearing a swear word seems quite a battle. I explained to her that each person decides on the type of language they use and in what areas of society they use it. Saying silver BITCHEZZZ on zero hedge is quite different than walking not your grandmas nursing home and saying what's up ya old BITCHEZZZ. I understand it makes you uncomfortable reading that with your daughter standing there but that is because she is your daughter and not because it is necessarily so bad. I promise you she glosses over it the same as my daughter does when she reads.

Is it weird that when I try to type in bitchez it autocorrects to BITCHEZZZ?
LMAO that is great

Fri, 09/02/2011 - 15:08 | 1627438 DosZap
DosZap's picture

BenLightYear @ 14:08,

"Wo is that buyer?"

I agree w/you, but that OTHER buyer, is the WORLD.

Used to be we were it.Or so we thought.

No more.

Fri, 09/02/2011 - 09:08 | 1625884 Cognitive Dissonance
Cognitive Dissonance's picture

Is that a Gold Bar in your pocket or are you just happy to see me?

Fri, 09/02/2011 - 09:36 | 1626087 UGrev
UGrev's picture

it's marked with a serial number that doesn't exist :)

Fri, 09/02/2011 - 11:14 | 1626319 RockyRacoon
RockyRacoon's picture

Au contraire, Monsieur Grev.   Bob Pissani (or somebody, I gets 'em mixed up) was given a personal tour of the "vault" where all that ETF gold was stashed, with the obligatory blindfolded circuitous black SUV trip.   I seen it on CNBC!   Must be true.


Phantom gold haunts GLD vault tour

Here's a fascinating piece that turned up in yesterday's Financial Times out of London.

The SPDR Gold Trust (GLD) may have sought to defuse conspiracy theorists by opening up its massive London gold vault to CNBC, but instead it opened up a new line of inquiry.

Once inside, CNBC's Bob Pisani held up a random gold bar, its refiner's stamp clearly legible. As Zero Hedge points out in a blog post today -- the serial number on that bar, ZJ6752, does not appear on GLD's most recent bar list, dated August 31.

The FT story is posted in the clear in this GATA release, which is another must read...and the link is here.

Fri, 09/02/2011 - 11:45 | 1626714 Bay of Pigs
Bay of Pigs's picture

Rocky, the more they dig into GLD and SLV the worse it will get.

No doubt these paper PM ponzis will fall apart at some point in time.

Fri, 09/02/2011 - 11:55 | 1626758 DoChenRollingBearing
DoChenRollingBearing's picture

Rocky, Bay,

Correct.  They will cover up and dig.

.gov will continue to spend.

The Banksters will stay out of jail (except maybe a token).

Physical gold will win.

+ $1870

Fri, 09/02/2011 - 13:12 | 1627022 Smiddywesson
Smiddywesson's picture

Thanks Rocky, good job.

Fri, 09/02/2011 - 09:36 | 1626092 Urban Roman
Urban Roman's picture

A tungsten bar. Even harder than you thought ;-)

Fri, 09/02/2011 - 09:50 | 1626159 Cognitive Dissonance
Cognitive Dissonance's picture

Too funny. I can see the new and improved Viagra commercial now.

"Viagra Gold. It puts Tungsten in your pencil."

It would confuse a lot of people. But it wouldn't stop the sales machine.

Fri, 09/02/2011 - 10:19 | 1626321 FeralSerf
FeralSerf's picture

Aren't the titanium credit cards being promoted as being more valuable than the platinum ones (which are better than the gold ones)?  While not a jewelry person myself, seems some people are buying titanium rings?

With a bit of msm marketing, who knows -- maybe those tungsten bars may become desirable.

Fri, 09/02/2011 - 12:52 | 1626955 blunderdog
blunderdog's picture

Tungsten rings, not titanium.  Tungsten doesn't scratch. 

Fri, 09/02/2011 - 09:38 | 1626102 mick_richfield
mick_richfield's picture

I don't mean to brag, but I feel compelled to point out that a silver bar of equal value would be, um, 44 times larger.  Just sayin.

Fri, 09/02/2011 - 09:51 | 1626163 Cognitive Dissonance
Cognitive Dissonance's picture

And there's STILL room to grow. :)

Fri, 09/02/2011 - 09:53 | 1626173 GBruenetti
GBruenetti's picture

Actually, it's more like 81 times, since a pound of silver has almost double the size of a pound of gold. Don't carry your brain around in your trousers ;-)

Fri, 09/02/2011 - 11:34 | 1626676's picture

I'm no scientist but it seems to me that those participating in this conversation would be well served if they employed more specific terms such as "mass" and "volume."

Fri, 09/02/2011 - 12:49 | 1626943 Transformer
Transformer's picture

Yeah, like massive stupidity and a high volume of inanity.

Fri, 09/02/2011 - 09:07 | 1625887 cossack55
cossack55's picture

Raise all CME margins to 100% and then they can all go home.

Fri, 09/02/2011 - 09:10 | 1625916 Long-John-Silver
Long-John-Silver's picture

I exchange all my fiat dollars for physical Gold and Silver without margins.

Fri, 09/02/2011 - 13:22 | 1627058 Smiddywesson
Smiddywesson's picture

I did too.  Except for my emergency funds I put it all on the gold (and silver).  I also pulled money from my 401k to increase my physical to Sprotts ratio.  I am very happy I took that step and slept like a baby through this most recent margin increase. 

My father in law is a trader with over 40 years in the markets.  He doesn't own any gold, and kept telling me "Be careful."  I had to tell him I closed my position just to change the subject.  People either take a long term historical approach into their trading or they do not.  If they don't, then they consider gold just another inflated asset.

I have other friends who think I was lucky, or smart, or both.  Still, they think they missed the boat, and refused to get into gold back when it was in the $1500s.  They acknowledge I knew what I was doing back then, but somehow don't feel the same way now when nothing has changed.  I tell them to get aboard, because the true run up has yet to begin, but they won't. 

This has been a real psychological eye opener for me.


Fri, 09/02/2011 - 14:52 | 1627372 DosZap
DosZap's picture


Same scenario here, I told my Sis in law(has lot's of cash), to buy gold at $975.00,she said how much??, a couple of ounces?.

I said No, figure out your total net cash worth, and buy at least (Min) 10%,at the least.

She, said, Oh........................

Long story short, she bought nothing I walked her thru all of it, gave her my Dealers name/#,etc(I later found out), she's sitting on likely well over a million in fiat,and not ONE ounce of any PM.

She was here a couple of weeks back, and just to jab her I asked, did you buy any Pm's?, like I suggested, hope you did, as you have doubled your money.

No words from her mouth.( there went a $100k in frns in profit) that could have been rolled back into Au,Free Gold.

I stopped talking to anyone about it, I am constantly amazed that they cannot fathom how deep a mess we're in.

And these folks are far more savvy than I when it comes to the Market.( Crying in beer time now).

Fri, 09/02/2011 - 15:05 | 1627403 akak
akak's picture

Regarding your sister in law, I can't help but recall the old line: a mind is a terrible thing to waste.

And a very common thing to waste as well.

Fri, 09/02/2011 - 15:11 | 1627456 DosZap
DosZap's picture

akak,@ 15:05,

Indeed,bad part is she is great, and I love her like a sister.

But, you can lead a hoss to water...............but.............

Going to really be sad, when she realizes her lifes savings in history.

Fri, 09/02/2011 - 09:30 | 1626055 Citxmech
Citxmech's picture

At the rate they're going they'll be there soon enough.

Fri, 09/02/2011 - 09:07 | 1625889 bullionbaron
bullionbaron's picture

Gold stocks now to breakout?

HUI 610+, GDX 64+, they will stage a huge rally if those resistance levels are broken in my opinion:

Fri, 09/02/2011 - 09:17 | 1625968 Central Bankster
Central Bankster's picture

yup.  A lot of the individual miners already have broken to new 52 week highs.  AUY GOLD NXG to name a few I've owned that have done really well in the last 6 months.  Looks to me like HUI is ready to run.

Fri, 09/02/2011 - 09:07 | 1625891 becky quick and...
becky quick and her beautiful mouth's picture

looks like the outlaw is going to get owned + ponce will get his tp after all.

Fri, 09/02/2011 - 09:07 | 1625892 rajat_bhatia
rajat_bhatia's picture

Fucking Americans!

Fri, 09/02/2011 - 09:11 | 1625924 Clint Liquor
Clint Liquor's picture

Is that a compliment?

Fri, 09/02/2011 - 09:14 | 1625945 DefiantSurf
DefiantSurf's picture

I think its a statement, many Americans being fucked today.

Fri, 09/02/2011 - 11:14 | 1626591 gmrpeabody
gmrpeabody's picture

A verb..., followed by a noun... sort of.

Fri, 09/02/2011 - 09:13 | 1625943 Long-John-Silver
Long-John-Silver's picture

Obama's hard at it.

Fri, 09/02/2011 - 09:35 | 1626080 Zedge Hero
Zedge Hero's picture

Fucking Americans!

That reminds me of a good Joke - There is a classroom in California (diverse) and the Teacher says anyone who can tell me the author of this quote can have monday off. She starts out with "Ask not what your country can do for you....and right away a hand jumps up and this litle Japenese girl says John F Kenndy in a japanese accent. Teacher says you can have Monday off - she said (Japense accent) "no no no no no me love to learn, i will be here. Teacher says fine and does another quote.  "I have  dream that someday....and a little boy(Japense with accent) says ohohoh oh Dr. MArtin Luther Kin Jr. She said good have Monday off- He then says no no no no, me love to learn.  Then some boy in the back says- FUCKING JAPS!! Teacher yells Who said that? Boy smiles and says Harry Truman- see you Tuesday! 

Fri, 09/02/2011 - 09:37 | 1626095 becky quick and...
becky quick and her beautiful mouth's picture


Fri, 09/02/2011 - 10:32 | 1626378 FeralSerf
FeralSerf's picture

If you can't fuck an American, who can you fuck?  That's where modern advertising and Hollywood was invented.  America is also where Washington, DC and Wall St. is located.

Fri, 09/02/2011 - 09:07 | 1625894 somethingelse
somethingelse's picture

Looks like my silver will be working through the holiday weekend building my retirement    =)

Fri, 09/02/2011 - 09:08 | 1625899 fuu
fuu's picture

Silver bitches!

Fri, 09/02/2011 - 09:11 | 1625920 caerus
caerus's picture

i concur!

Fri, 09/02/2011 - 09:39 | 1626108 fuu
fuu's picture

JPM:Silver .812996727

Fri, 09/02/2011 - 09:47 | 1626141 DoChenRollingBearing
DoChenRollingBearing's picture

THAT will be a fun ratio to watch.  + $42 and green.

Fri, 09/02/2011 - 09:50 | 1626160 fuu
fuu's picture

Welcome back to the monkey house!

Fri, 09/02/2011 - 11:57 | 1626769 DoChenRollingBearing
DoChenRollingBearing's picture


Great to be back.

CAREFUL with that gun dammit!

Fri, 09/02/2011 - 16:02 | 1627638 fuu
fuu's picture

End of day update: .800369685

Fri, 09/02/2011 - 12:28 | 1626862 fiddler_on_the_roof
fiddler_on_the_roof's picture

Caerus :

Silver. meh....I think it will crash soon along with platinum and others.

Did you cover your GLD puts ? you mentioned you will do this week.

Fri, 09/02/2011 - 09:08 | 1625900 MonkeySmoke
MonkeySmoke's picture

Isn't the EU trying to make gold a monetary standard as of today? I believe the headline I read earlier was talking about a "gold backed EuroBond" or did I read that wrong? Only a matter of time before the real nay-sayers are shown in their proper light.

Fri, 09/02/2011 - 09:18 | 1625979 New_Meat
New_Meat's picture

although the PIIGS meme is a little perjorative, imho.

- Ned

Fri, 09/02/2011 - 09:08 | 1625901 Eugend66
Eugend66's picture

Gold morning, guys.

Fri, 09/02/2011 - 09:09 | 1625907 BlackholeDivestment
BlackholeDivestment's picture

...they are so going to blow up a city. Oh shit!'s September again.

Fri, 09/02/2011 - 09:25 | 1626024 Pladizow
Pladizow's picture

Pointless link - Stupid Green Day Song!

Fri, 09/02/2011 - 12:58 | 1626975 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

If by "they" you mean the terrorists in our government, I agree!

Fri, 09/02/2011 - 09:09 | 1625909 ThatGuyEhler
ThatGuyEhler's picture

My silver coins are looking shinier than ever this morning... :)

Fri, 09/02/2011 - 09:15 | 1625957 eigenvalue
eigenvalue's picture

If you think your coins are too shiny, then just put them in nitric acid. ;-)

Fri, 09/02/2011 - 09:09 | 1625912 Clint Liquor
Clint Liquor's picture

Don't wait for an 'official' Gold Standard, put yourself on one immediately. They won't let you trade Physical Gold for Fiat forever. Someday soon, it will be over.

Fri, 09/02/2011 - 09:51 | 1626164 DoChenRollingBearing
DoChenRollingBearing's picture

Be your own Central Bank!  Buy gold and silver (and platinum)!

Do that and each of us could be worth more than the Fed!  Ha ha ha!

I still see NO political will to audit the Fed or Ft. Knox.  Get while the getting is good.

Fri, 09/02/2011 - 09:10 | 1625917 lovesmoney
lovesmoney's picture

every time Gold price increases, I feel more poor :(

Fri, 09/02/2011 - 09:56 | 1626187 DoChenRollingBearing
DoChenRollingBearing's picture

I hear you, but only holders of gold will feel better.

Higher gold prices demonstrate for all to see that our .gov is doing a terrible job.  As individuals we need to organize and take it back (via the Tea Party and Ron Paul), but if we cannot do that, then buy gold.

This crisis has been OBVIOUS to all who would observe since August 2007 (when the two Bear Stearns hedge funds collapsed).  Barron's picking of Obama as the next likely President (Big Money Poll, Oct. 2007, BEFORE the 2008 primaries) should have been tip-off No. 2.

Fri, 09/02/2011 - 09:11 | 1625919 Dr. Engali
Dr. Engali's picture

I feel wealthier already. Maybe I will go stimulate the economy, with my new found wealth effect, by visiting the local pub.

Fri, 09/02/2011 - 09:11 | 1625922 eigenvalue
eigenvalue's picture

I'm horrified and also thrilled by the open interest of silver as of yesterday. Only around 112,000. It seems that we will probably have a steep surge shortly

Fri, 09/02/2011 - 09:11 | 1625923 buzzsaw99
Fri, 09/02/2011 - 09:11 | 1625925 digalert
digalert's picture

Expect swift CME action,

This is an Obamination,

USD is trash, EURO is trash and gold is a barbarous relic...

I'll take GOLD for $2000 Alex.

Fri, 09/02/2011 - 09:19 | 1625987 Beam Me Up Scotty
Beam Me Up Scotty's picture

Margin hike this holiday weekend?  Seems like a good time for a beat down, similar to May silver.  Please please, give us one more sale.

Fri, 09/02/2011 - 09:24 | 1626015 Snidley Whipsnae
Snidley Whipsnae's picture

Margin hike in front of Oblammers speech... No problem, they are using up their margin ammo and each hike is having less effect than the last...

Fri, 09/02/2011 - 10:00 | 1626219 DoChenRollingBearing
DoChenRollingBearing's picture

Let her rip Snidley!  Or let them keep firing until their ammo is all gone.

Like you say, not much they can do to affect anything, barking up the same old tree.

It is now so obvious why all of Obama's economic team bailed, they saw this like we did, and they did not want to stick around for the blame.

Gold will keep you & me safe!

Fri, 09/02/2011 - 10:58 | 1626514 Badabing
Badabing's picture

Margin hike, OK it doesn't matter if your in to take delivery.
Today that's the name of the game!

Fri, 09/02/2011 - 09:12 | 1625930 belsebub
belsebub's picture

So, is operation twist (buying long end, selling short end) really to be seen as QE, or is it just another form of (useless) piece of shi, sorry, unconventional measure? Should we expect REAL NET BUYING of the long end being announced on sep 21?

Fri, 09/02/2011 - 09:41 | 1626112 ReactionToClose...
ReactionToClosedMinds's picture

Am not trying to counter ZH at all ... but Operation Twist, despite many naysayers who said it was inconsequential in early 1960s, are full of MSNBC delusion. Operation Twist was counter to neo-classical/Keynes academic economic thought at the time. Nobel winner Rbt Mundell was junior lead economist who analyzed this and advocated it. Under the conidtions of early JFK administration, it made sense and was a success despite the hostility to it by establishment economic thought. Mid-1960s were and economic boom time (I know, I was old enough to remember it and tangibly feel it's impact on my family and businesses large and small). Methinks personally in retrospect, that JFK went against advisors because old man Joe K (if there ever was a Darth Vader ... old Joe was) told JFK privately as experienced business person that it would work better than senior econ advisors claptrap.

As for 'today' .... am not advocating an 'Operation Twist' ..... Today's conditions are not the same as early 1960s by any stretch. I would like to see Rbt Mundell (as original Operation Twist godfather) weigh in on this or Art Laffer, a key acolyte.

FYI, Mundell was one of creators of Euro ... but he clearly warned that it is almost unfathomable that you cou8ld have a currency and monetary policy that was not matched by a fiscal union of some kind ..... this ultimately had to be addressed. His warning and caveat are pretty clear

Fri, 09/02/2011 - 09:12 | 1625932 Ostapuk Ivano
Ostapuk Ivano's picture

Where are you guys buying most of your silver from? I am not big time so we are talking 200 dollars at a time purchases. Thanks.

Fri, 09/02/2011 - 09:14 | 1625948 WoodMizer
WoodMizer's picture

Fri, 09/02/2011 - 09:15 | 1625955 Ostapuk Ivano
Ostapuk Ivano's picture


Fri, 09/02/2011 - 09:28 | 1626043 Pladizow
Pladizow's picture

Also see summary review of 15 online dealers:

Fri, 09/02/2011 - 09:29 | 1626045 Snidley Whipsnae
Snidley Whipsnae's picture

I go to Gainsville coin... They have a beautiful show room with lots of exotic PMs on display... and their prices are ok... Pleasant to deal with...

Gainsville has a silver Panda on display that must be 6-8 inches in diameter and an inch thick. Beautiful...

Fri, 09/02/2011 - 09:32 | 1626071 Bullionaire
Bullionaire's picture

Go to your local coin shop.  Establish a relationship.  These are the neighbors you want to know.

Fri, 09/02/2011 - 09:35 | 1626083 Snidley Whipsnae
Snidley Whipsnae's picture

Gainsville Coin is my local coin shop.

Fri, 09/02/2011 - 12:00 | 1626250 DoChenRollingBearing
DoChenRollingBearing's picture

YES, your local coin shop (one that has been in business for a long time), is a VERY good friend to have.  My experience is that their markups are comparable to the online sellers, but you DO have to drive over.

So what?  You want to have someone who KNOWS Au and Ag, and will be there to buy from you if necessary.

+ $1870 (what a number!)

Fri, 09/02/2011 - 12:06 | 1626797 ZeroHour
ZeroHour's picture

Normally, I would agree with you, but...

Earlier this week, with gold right at $1800/ounce, I went into the local coin shop wanting to sell a 1 ounce walking liberty.  He says "that's a purdy coin, real shiny.  Let's see... I'll give you $1300 for it, maybe even $1350".


I looked in amazement for about 10 seconds wondering if I heard correctly.  Then I just walked out.


So, seller beware.

Fri, 09/02/2011 - 13:07 | 1627010 tsx500
tsx500's picture

u shoulda kicked him in the nuts

Sat, 09/03/2011 - 07:01 | 1629210 jpalm
jpalm's picture

Wow, what a rip off...I'll give you $1,400 for it!

Fri, 09/02/2011 - 10:44 | 1626446 slewie the pi-rat
slewie the pi-rat's picture

i find local shopz best for small cash puchases:  no name. address/ card/check info needed.  if yer avatar is autobiographical,  they'll remember you!

also, please try to learn abt the silver content of US Mint-produced silver coinage.  the eagles are 100% and = 1 troy oz (note this is not the same ounce as we use when we say there are 16 ounces in a pund of butter)~~~this ounce is ~~10% more.

"junk" silver coins are the pre-'64 coinage (altho mo-modern issues are also struck for mint and proof sets in 90%).  half-dollars, quarters and dimes, in various "editions" depending on their date. these are very standard silver coinage and often sell at lower premium than the new eagles/oz.  don't buy them for silver content if they are way worn, tho. 

also, silver dollars, which have the 90% content but "weigh" a bit more than 2 halves, 4 quarters, or 10 dimes, possibly b/c of some zeroHeads' favorite toilet, the US Constitution.

Fri, 09/02/2011 - 12:52 | 1626956 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

90% are "Pre-65".  Everything else is right on!


1965-1969 Kennedy Halves are 40% silver.

Fri, 09/02/2011 - 09:17 | 1625970 Long-John-Silver
Long-John-Silver's picture

Higher premiums but no minimums. You will get what you order too.

Fri, 09/02/2011 - 09:30 | 1626056 Sgt.Sausage
Sgt.Sausage's picture

==>  You will get what you order too.

Mostly, except for bags of junk silver.

Every time I order a $100 bag of Mercury dimes, there's a couple dozen Roosevelts in there.

Fri, 09/02/2011 - 10:03 | 1626238 yabyum
yabyum's picture

I have even found Barber dimes from the 1890's in a bag of dimes. Fun to go through them and plu in holes in my mercury book.

Fri, 09/02/2011 - 11:02 | 1626532 RockyRacoon
RockyRacoon's picture

Winged Liberty... the wings are on the cap, not the feet.   Just a minor adjustment.

Fri, 09/02/2011 - 09:45 | 1626129 UGrev
UGrev's picture

Fuck Apmex and their CC + shipping rape job they do on you.  Go and use NIAUS for $5 off shipping. 

Fri, 09/02/2011 - 09:51 | 1626150 DosZap
DosZap's picture


Ditto's, making WAY too much prem over other dealers, there is not shortage YET, so why hit folks deep.

Piss off.

Fri, 09/02/2011 - 09:47 | 1626139 DosZap
DosZap's picture


Not them, prems are WAY too high........................

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