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Silver Passes 30% YTD As Catch 22 Economic "Updates" Becomes Blurry

Tyler Durden's picture


The economic data keeps coming fast and furious, with Consumer Confidence just printing at a blistering 70.3 on expectations of 63.0, up from 61.5? Why? Because crude is approaching records and gas is $5? No - because the market is up of course on trillions in liquidity. So confidence is up because the market is higher, and the second the higher than expected confidence number prints, the market is higher on that alone. Catch 22 FTW, and it is not alone - every other confidence-based indicator in the past 3 months has beat! Because human beings, indoctrinated to only care about nominal gains, really are that dumb - something well known and appreciated by the central bankers. In other news, we joked before it printed that the Richmond Fed would come several standard deviations above the consensus. Sure enough, the actual print came at 20, naturally far higher than the average estimate of 14, and in fact above the highest estimate of 17. The good news: silver has just hit a 30% YTD return.


Richmond Fed distribution estimate and the actual print.

And silver:


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Tue, 02/28/2012 - 11:15 | 2203814 ThatGuyEhler
ThatGuyEhler's picture

Wait for it, wait for it..... silver, bitchez!

Tue, 02/28/2012 - 11:17 | 2203828 maxmad
maxmad's picture

all shiny metals, bitchez!  For shiny happy people!

Tue, 02/28/2012 - 11:21 | 2203842 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

$36 is the holding number on the charts.  If $36 breaks authoritatively, we should see $42 soon.

If you own a lot of silver and your price point is much lower (like mine) I would not recomend buying here (I won't).  But if you do not own much silver then you might as well get in the boat.

I loaded up in late December (as I am sure people may remember because I wrote I was buying silver "with both fists").  If you already own a lot of PMs, platinum and gold are better buys here pricewise, especially platinum.

Tue, 02/28/2012 - 11:22 | 2203857 maxmad
maxmad's picture

nice-pat yourself on the back.... But most of us on here, bought 5+ years ago....

Tue, 02/28/2012 - 11:24 | 2203874 TalkToLind
TalkToLind's picture

Solidarity, brother.  If Hendrix is stacking that means someone else is holding the FRNs.

Tue, 02/28/2012 - 11:30 | 2203907 maxmad
maxmad's picture

True dat!  Hence the reason why Hendrix, shouldn't be so concerned with telling people what levels to buy at... Anything under $500 is a steal!  Just keep stacking. bitchez!

Tue, 02/28/2012 - 11:39 | 2203938 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Mr Max, I am just trying to give mho on the technicals.  I would encourage everyone to BUY SILVER.

Tue, 02/28/2012 - 11:43 | 2203959 AL_SWEARENGEN

How long before the Cocksuckerz over at the CME raise margin requirements??

Tue, 02/28/2012 - 11:47 | 2203970 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Those cunts will probably raise them when gold is back at its nominal high.

Tue, 02/28/2012 - 12:25 | 2204182 mick_richfield
mick_richfield's picture

You can only play that card so many times, before nobody cares.

Silver is already so out of line, margin-wise, with everything else in Known Space, that people who like to play on margin are all doing something else.

Tue, 02/28/2012 - 13:05 | 2204383 Transformer
Transformer's picture

Hendrix,  What is this boat thing, that people write about here all the time?  Loading up the boat, boating accident, yada yada?  Are you all wankers?

Tue, 02/28/2012 - 13:28 | 2204458 The Swedish Chef
The Swedish Chef's picture

No, just lousy sailors..

Tue, 02/28/2012 - 14:01 | 2204556 pupton
pupton's picture


Yes, we are all wankers.  We all had "an unfortunate boating accident" whereby our precious metals fell from our wrecked boat and into the bottom of the sea/lake/river, never to be recovered.  (Thus, if a government agent comes to your door demanding to tax or confiscate said metals you will have to tell them the sad tale of seafaring misfortune and hope they leave peacefully.)

Now me, I don't have a boat and never have.  Hell, even if I did, I would never be stupid enough to bring valuables on a boat knowing there's a chance of "an unfrotunate baoting accident". 

Nope, I gave all my precious metals to a homeless man as an act of charity.  Didn't catch his name and never saw him again...but he did mutter something about using it to buy a boat though...


Does that answer your question?

Tue, 02/28/2012 - 14:08 | 2204594 A Nanny Moose
A Nanny Moose's picture

The first rule of boating accidents is...

Tue, 02/28/2012 - 15:38 | 2205129 TruthInSunshine
TruthInSunshine's picture

Thanks for that lesson.....errrr....story, pupton.

It was heart warming.

Tue, 02/28/2012 - 12:24 | 2204177 JPM Hater001
JPM Hater001's picture

"How long before the Cocksuckerz over at the CME raise margin requirements??"

In 5...4...3...

Tue, 02/28/2012 - 15:14 | 2204964 peekcrackers
peekcrackers's picture

Let the pole smokers.. hike it .. The printing press is going to have to come to stop with this fake bunk money soon.. Au Ag is the real deal .

Tue, 02/28/2012 - 11:30 | 2203908 SHEEPFUKKER

Yeah, no need to bash.  If you have a job, then you get paid in FRN's or some other worthless piece of paper, so we should all be continuously trading fiat for PM's.  Great if you bought at 5$, but keep stacking..... 

Tue, 02/28/2012 - 11:35 | 2203923 tekhneek
tekhneek's picture

Just buy a portion of your paycheck every payday.

$2 of silver for every $1 of gold while the ratio's still this wack, bitchez.

I've been buying 90% junk lately. Sells for a 15-20% premium on eBay. Hand over fist dollars, bitchez. Acquire more, rinse repeat.

Tue, 02/28/2012 - 11:45 | 2203968 gwar5
gwar5's picture

Not to plug anything, but you can still get bags of junk silver at, or near, spot at a couple of sites, eg.,



Tue, 02/28/2012 - 11:50 | 2203987 tekhneek
tekhneek's picture

Indeed! Thanks for the link.

My dealer actually gives me a pretty sweet deal on it. Usually it's at spot, sometimes a bit over but nowhere near what an ASE is or any other bullion products.

Tue, 02/28/2012 - 12:29 | 2204201 mick_richfield
mick_richfield's picture

That's because you're cute.

My dealer makes me kneel with my hands behind my head and cross my ankles behind me, then slowly reach into my pocket with two fingers and throw the money onto the floor near him.

I don't get out much.

Tue, 02/28/2012 - 13:42 | 2204498 tekhneek
tekhneek's picture


I'm a dude... and you're forgiven.

Tue, 02/28/2012 - 14:03 | 2204566 pupton
pupton's picture

You may also want to try the "nucleo exchange" on

Tue, 02/28/2012 - 14:03 | 2204569 mick_richfield
mick_richfield's picture

Sorry.  No offence.  It's just so hard for me to tell with humans.

I see you all as really slow-moving splotchy infra-red shapes, with kill-probability graphics superimposed in my visual field. 

I hope it doesn't mean I'm a bad person.

Tue, 02/28/2012 - 13:24 | 2204446 Abitdodgie
Abitdodgie's picture

What is a "Paycheck"

Tue, 02/28/2012 - 14:05 | 2204576 mick_richfield
mick_richfield's picture

It's the thing I'm supposed to be working for right now.

Tue, 02/28/2012 - 11:41 | 2203929 TruthInSunshine
TruthInSunshine's picture

I placed an ad in CL offering to pay anyone $10 an ounce to dig silver out of my backyard.

That's twice the price I used to have to pay, and still - no takers.

Tue, 02/28/2012 - 11:48 | 2203977 Max Fischer
Max Fischer's picture



So, on a daily basis, the silver super-goons cry that the entire PM market is manipulated.  Not only is it manipulated, but apparently there is an entire "Cartel" who's sole existence is to competely rig the market. 

Yet, on a daily basis, the silver super-goons offer up pedestrian, junior varsity chart analysis on this very same market.  In other words, you're attempting to chart manipulation. 


You can't believe in a totally manipulated market and then expect someone to take your chart analysis seriously.  It sorta makes you somewhat...... NUTS.  

Max Fischer, Civis Mundi



Tue, 02/28/2012 - 11:51 | 2203993 tmosley
tmosley's picture

So you are saying that you can't predict that charts will be painted when the charts are painted?

That's identity, you idiot.

Tue, 02/28/2012 - 13:09 | 2204396 Transformer
Transformer's picture

mosley, I'm with Max on this one.  Charts don't mean shit.  Charting is about human reactions to market ups and downs.  Not human reaction to manipulated markets. They can paint the chart anyway they want, or not bother.  Either way, it don't mean shit.

Tue, 02/28/2012 - 13:40 | 2204496 tmosley
tmosley's picture

You don't get it.

Turd's thesis is that the "Cartel" paints patterns in the charts in an attempt to control prices.  Taking this thesis to heart, one can predict that the patterns that USED to correspond with human reactions will now be created and followed through on artificially, both by TA robots and by the cartel themselves.  This makes technical patterns MORE significant, not less.  They paint a head and shoulders, and you'd best get out of the way for the big leg down, because they will make sure it follows through, savvy?

That can be useful for those fools who choose to trade a manipulated market.  Lots of people have claimed to have made a good bit of money by following Turd's analyses, while only a few claim to have lost, or lost on buying opportunities.  But then, that is how it always is.  People will brag about winning a hundred even when it comes on the back of a thousand dollar loss.

I personally think that trading is and has been a fools errand since QE1 started, so I don't do it.  I just buy silver every month regardless of the price until my own thesis is fulfilled, at which point I trade silver for gold and ride out global hyperinflation before picking up the pieces in the new, non-fiat world. 

Tue, 02/28/2012 - 12:00 | 2204046 maxmad
maxmad's picture

Max, you give the name disgrace! 

Tue, 02/28/2012 - 11:49 | 2203985 Just Observing
Just Observing's picture

I'd like to see 42 again, since that's what I paid for the last I bought.  30% YTD doesn't mean shit unless you managed to time the bottom.


On the other hand, I'm quite pleased with the 6.50 I paid in 2004.

Tue, 02/28/2012 - 13:42 | 2204501 tmosley
tmosley's picture

Why aren't you buying every month?  Then you don't have to time anything.

Tue, 02/28/2012 - 12:13 | 2204124 Chicken_Little
Chicken_Little's picture

I usually like to lurk, but anyone that is not an insider in the JPM and HSBC USA concentrated silver short positions write every reason it doesn't exist. Load up with silver people.



Tue, 02/28/2012 - 13:51 | 2204527 THECOMINGDEPRESSION

I bought in 2000. Traded a house for SILVER. Do I win a prize? Selling in 2015...buying a farm.

Tue, 02/28/2012 - 14:07 | 2204582 mick_richfield
mick_richfield's picture

"Buying a farm" is perhaps not the best possible choice of phraseology....

Tue, 02/28/2012 - 11:17 | 2203830 SHEEPFUKKER

Where are all the bubble boys? 

Tue, 02/28/2012 - 11:20 | 2203846 urbanelf
urbanelf's picture

The gold bubble is like my penis: seems huge until you really get down and look at it.

Tue, 02/28/2012 - 11:43 | 2203954 johnQpublic
johnQpublic's picture

my new all time favorite ZH comment

Tue, 02/28/2012 - 12:59 | 2204356 gmrpeabody
gmrpeabody's picture

He may have a small penis..., but he's got balls the size of mellons.

Well played, sir!

Tue, 02/28/2012 - 13:15 | 2204416 donsluck
donsluck's picture

The way your eyes are mapped in your brain is far different than how your body is.

Tue, 02/28/2012 - 13:28 | 2204459 The Swedish Chef
The Swedish Chef's picture

Off buying APPL.

Tue, 02/28/2012 - 11:20 | 2203840 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Buy physical silver, because it is money.

Tue, 02/28/2012 - 11:25 | 2203868 trav7777
trav7777's picture

no it isn't.  There is nothing that IS money.  Money is operationally defined via consensus.

There are a lot of good reasons to buy silver and some good ones not to.  None of these are because it "IS" money.

Tue, 02/28/2012 - 11:31 | 2203911 Doña K
Doña K's picture

Okay! it's wealth preservation

Tue, 02/28/2012 - 14:20 | 2204636 WonderDawg
WonderDawg's picture

I thought time was money?


Tue, 02/28/2012 - 11:35 | 2203924 tekhneek
tekhneek's picture

I think what he means by money is that it's held it's value over time and can be used to barter/exchange for other goods and services.

Tue, 02/28/2012 - 11:36 | 2203927 francis_sawyer
francis_sawyer's picture

Does that mean that if I put some pre-1964 Washington quarters into a jukebox then the music won't play?

Tue, 02/28/2012 - 13:48 | 2204508 Chaffinch
Chaffinch's picture

I thought Silence was Golden ; )

Tue, 02/28/2012 - 15:02 | 2204899 trav7777
trav7777's picture

it means if you put a POST 1964 quarter in, the jukebox will still play.

That means that some money IS silver.  Silver IS NOT money in the absolute.

Lots of things are money...tally sticks lasted longer than any other fiat system and were inarguably money.  In a twist of irony, they formed the initial capital of the bank of england.

Tue, 02/28/2012 - 11:36 | 2203928 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Money must meet these four measures:  A unit of account (fungible), a store of value, an agreed upon means of exchange, and a standard of deferred payment.

Only precious metals meat that criterium, and I think gold, silver, and platinum meet it perfectly. 

So, Trav, what don't you agree with?

And why are you picking on silver?

Tue, 02/28/2012 - 11:43 | 2203955 francis_sawyer
francis_sawyer's picture

Trav wants to stir up the hornet's nest here at the ride between $36 & $40...

Then, if it technically (paper corrects) to $30 sometime in the near future (which wouldn't be absurd because $30-$31 would be a .618 fibo retracement of a move from $25 - $40), he can come on and call everyone idiots for buying at $36...

Tue, 02/28/2012 - 11:49 | 2203986 Bay of Pigs
Bay of Pigs's picture

That is exactly what he'll do.

Tue, 02/28/2012 - 15:05 | 2204918 trav7777
trav7777's picture

So do a lot of things.

Picking on silver?

WTF is wrong with you people that you are anthropomorphizing a fucking ELEMENT?  Stop emotionalizing; what I say is true.

Gold IS NOT money.  Platinum IS NOT money.  By all caps I mean that the definition of money is not either of these things and the set of money and the set of AuAgPt are not coextensive.

A criterium is a bike race.

Tue, 02/28/2012 - 15:21 | 2205011 peekcrackers
peekcrackers's picture


 Dum ass.....Money was drived from gold and silver ..

Tue, 02/28/2012 - 15:21 | 2205021 tmosley
tmosley's picture

Enlighten us then, oh wise one, as to what IS money?

This should be a riot.

Tue, 02/28/2012 - 11:41 | 2203945 gwar5
gwar5's picture

Trav, love ya, but silver and gold have been global consensus munny for thousands of years.


Tue, 02/28/2012 - 11:50 | 2203989 AgShaman
AgShaman's picture

Many of the world's languages would dismiss your mis-info....for them Silver=Money

Treasury Sec. Alex Hamilton's 1792 report to Congress gives a pretty definitive description of how many grains of silver would represent the "dollar"....or, money of account.

Time to take your ball....and runn-oft back to Mama

Tue, 02/28/2012 - 12:48 | 2204300 mick_richfield
mick_richfield's picture

Nothing 'is' anything.

Everything is 'operationally defined by consensus.'

Do you think that's 'air' you're breathing?


Tue, 02/28/2012 - 13:13 | 2204414 Transformer
Transformer's picture

Money is:

Medium of exchange


A unit of account





Limited supply

Store of value

Tue, 02/28/2012 - 15:11 | 2204946 trav7777
trav7777's picture

FRNs are money.

All of you idiots can chant together that they aren't and it WON'T make it so.

As to the guy who said air is only defined by consensus...LOL.  No.  We can agree on how to describe air, but air is air irresepective of whether we called it yomama or air.  It's the same thing.

So is money.  Gold and silver can BE money.  Throughout history, MANY THINGS (you fucking idiots) have been money.  Sticks.  Stones.  Shells.  Copper.  Iron.  Pieces of etched wood.  Cattle.  Pussies.  And paper.  And even credit and units of computer account.

Stop being fucking stupid; it's annoying.


Tue, 02/28/2012 - 15:22 | 2205033 tmosley
tmosley's picture

ITT Trav is a retard that doesn't know the difference between currency and money.

Tue, 02/28/2012 - 15:41 | 2205138 prole
prole's picture

FRNs are fiat money, or paper money, or company scrip, or funny little paper portraits, or gold certificates which have been completely divorced from gold, (which basically makes them a running joke) but .....

"Gold is money, everything else is credit" JP Morgan

Tue, 02/28/2012 - 15:36 | 2205111 suckerfishzilla
suckerfishzilla's picture

That all depends on how you define "is".

Tue, 02/28/2012 - 12:24 | 2204178 midtowng
midtowng's picture

While I'm happy my CEF is doing so well, I'm still wondering when my miners will finally explode to the upside.

Tue, 02/28/2012 - 11:15 | 2203817 spiral_eyes
spiral_eyes's picture

i love it when silver leads the way and gold follows. silver is the money of the people.

Tue, 02/28/2012 - 11:26 | 2203877 trav7777
trav7777's picture

maybe a few hundred years, silver is a metal used for designer jewelry and industrial purposes.

Tue, 02/28/2012 - 11:29 | 2203899 spiral_eyes
spiral_eyes's picture

keep stacking puts trav. fact is that metals are the only monetary instruments without huge systemic counter-party risk. 

Tue, 02/28/2012 - 15:12 | 2204954 trav7777
trav7777's picture

how is this in ANY WAY responsive to what I just wrote (which was a true statement)?

Can you fucking morons separate yourselves emotionally from your fucking silver?  JFC.

Tue, 02/28/2012 - 15:52 | 2205201 tmosley
tmosley's picture

Trav averages one "fuck" per sentance, and calls other people emotional.


Tue, 02/28/2012 - 11:44 | 2203958 tmosley
tmosley's picture

Trav must be posting from the deep future, or else "a few hundred" has been redefined to mean "less than 50", given US silver coinage.

But then, Trav has always been willing to tell any lie in order to push his "mass impoverishment unto death" agenda.

Tue, 02/28/2012 - 15:13 | 2204963 trav7777
trav7777's picture

You on crack?  "the money of the people" connotes far more than "people used it as money."

Or are you just effing STUPID?  Wait, I already know the answer to that.

Tue, 02/28/2012 - 15:24 | 2205052 tmosley
tmosley's picture

lol, Trav takes a try and fails miserably at making a semantic argument.

Tue, 02/28/2012 - 11:49 | 2203979 oddjob
oddjob's picture

 industrial bagholders?


Tue, 02/28/2012 - 11:54 | 2204014 tmosley
tmosley's picture

Bagholders who are up hundreds of percentage points over the last few years.  Bagholders who are no worse than even at WORST if they followed tmosley's advice and cost averaged into a position each month (that is with them starting at the ABSOLUTE high in late night holiday trading in middle-of-nowhere Kuala Lampur).

Tue, 02/28/2012 - 12:34 | 2204229 dogbreath
dogbreath's picture

blah blah fucking blah

Tue, 02/28/2012 - 12:49 | 2204307 mick_richfield
mick_richfield's picture

Was 1964 a few hundred years ago?  I'm not a math guy....

Tue, 02/28/2012 - 11:16 | 2203823 transaccountin
transaccountin's picture

Summer of recovery 3.0!

Tue, 02/28/2012 - 11:16 | 2203824 TalkToLind
TalkToLind's picture

10 oz ingots, bitchez!

Tue, 02/28/2012 - 11:45 | 2203965 HellFish
HellFish's picture

100oz RCM Bars FTW.

Tue, 02/28/2012 - 11:16 | 2203825 RobotTrader
RobotTrader's picture

Don't forget XRT also printing lifetime highs with gas over $4/gal. and millions unemployed and the 10-yr. yield at 1.91%


All I can say is:  Wow.

Tue, 02/28/2012 - 11:23 | 2203864 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

FUBAR, Robes, it's all FUBAR

Tue, 02/28/2012 - 12:19 | 2204161 GrinandBearit
GrinandBearit's picture

Give it up you idiot.  Go back to the other forum with your bi-polar pal Rasputin (who is suffering from gold sellers remorse -lol).

Tue, 02/28/2012 - 14:00 | 2204557 mayhem_korner
mayhem_korner's picture



Wow is right.  CNBC just wheeled Dick Bove out (1pm EST).  He's prolly the opening act for the 3pm surprise. 

They'll do anything to distract from the fact that equities continue losing ground relative to REAL MONEY.

Tue, 02/28/2012 - 11:17 | 2203827 Everybodys All ...
Everybodys All American's picture

The con job will soon run out of stupid.

Tue, 02/28/2012 - 11:45 | 2203963 johnQpublic
johnQpublic's picture

cotton candy anyone?

made with real cotton...

Tue, 02/28/2012 - 11:19 | 2203834 Don Birnam
Don Birnam's picture

Tyler, from now on, I submit that with regard to the reporting of Government-issued "indices," the explanatory text should conclude with the initialism "Q.E.D."

Tue, 02/28/2012 - 11:18 | 2203837 RagnarDanneskjold
RagnarDanneskjold's picture

Don't forget the Chinese buyers. Precious metals are the only investment left with stocks and housing in the tank. The latest scheme to bail out the housing market is for developers to pay part of the downpayment for home buyers. Shades of Lucent.

This won't end well: China goes subprime; developers extend credit to home buyers

Tue, 02/28/2012 - 11:19 | 2203839 RobotTrader
RobotTrader's picture

GDX/GLD ratio still in the tank.


What happens to the Dow if these PM stocks start running and outperforming bullion?

Dow 15,000?

Dow 18,000?

Tue, 02/28/2012 - 11:27 | 2203882 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Zactly, and same with energy, where the shares haven't kept pace with the resources.

DJ 36,000!!!!!!!!

Tue, 02/28/2012 - 11:28 | 2203894 EBR MOD 0
EBR MOD 0's picture

Dow who cares, I'll just keep stacking, you believe that pozi, well good you you Robot, see how to spend your paper later dude.

Tue, 02/28/2012 - 12:11 | 2204102 Hippocratic Oaf
Hippocratic Oaf's picture

Ask yourself.............Hmm..........hi-grade interest rates blow and junk corporates you can't really trust. What to do? Oh, might as well get into this pumped mkt while nothings gonna happen until after the election. 

This shits gonna pop eventually, when.......who the fuck knows? 

Another thing robo, look at volume. Who's trading? NOT retail. It's just machines talking back and forth to each other to keep the Washington grease machine churning. Think TPTB gave all that $$$ to the banks without recourse?

Get the fuck outta here.....picture this......FED bails banks, banks hit buy button with gun to head, retail walks away.

"Just remember........that I did you a favor" .........Don Corleone

Tue, 02/28/2012 - 11:24 | 2203866 UTICA CLUB XX PURE

Up $ .90 OZ today alone!!! Love It!

Tue, 02/28/2012 - 11:37 | 2203932 SHEEPFUKKER

90 cents someday will be a flat move.  

Tue, 02/28/2012 - 11:49 | 2203983 Deo vindice
Deo vindice's picture

When it moves up $5.00 in a day, then we might consider it being in a bubble. Until then it is simply like a ball held under water and only rising to its natural (price) equilibrium as compared to the elements around it.

Tue, 02/28/2012 - 11:25 | 2203879 q99x2
q99x2's picture

Consumer Con Up. Durable Essentials Down.

The Kepler space telescope offers better opportunities.

Tue, 02/28/2012 - 11:27 | 2203885 slewie the pi-rat
slewie the pi-rat's picture

earthingz are nominally dumb, commander!

Tue, 02/28/2012 - 12:59 | 2204354 GoinFawr
GoinFawr's picture

"Turn the clock, rub my eyes, and hope the world will last. Stranger from another planet, welcome to our hole. Just strap on your guitar, and we'll play some rock and roll. But the money's no good, just get a grip on yourself..." The Stranglers

Tue, 02/28/2012 - 11:28 | 2203890 Bansters-in-my-...
Bansters-in-my- feces's picture

Silver just got a big Woody .

Tue, 02/28/2012 - 11:29 | 2203896 HungrySeagull
HungrySeagull's picture

I am happy today.

Kitco has gone Vertical as of this both Gold and Silver.

Tue, 02/28/2012 - 11:35 | 2203921 Uncle Remus
Uncle Remus's picture

[stroking the ten ounce bar just to the right of the mouse]

My precious.

Tue, 02/28/2012 - 11:37 | 2203931 Bansters-in-my-...
Bansters-in-my- feces's picture

It's funny someone is leasing silver for as low as Negative -0.48% for a one month lease,that you can roll over.

Says so at kitcos silver page.

Good deal Huh!

Silly Rabbits....Tricx are for Kids.

Tue, 02/28/2012 - 11:42 | 2203947 Fantasy Planet
Fantasy Planet's picture

I can see my house from here!

Tue, 02/28/2012 - 11:41 | 2203948 tmosley
tmosley's picture

Not great news for a COMEX collapse.

A controlled rise is the only way to prevent an industrial panic.  I am not happy about the last two weeks.

If this rise continues, it constitutes the worst case scenario for owners of physical silver.  It will be unlikely to rise above 20% of parity with gold if the paper markets remain intact.

That said, it seem more likely that this is another bull trap in the making.  More silver will be stolen from segregated accounts of freshly bankrupted brokerages, and we will be a step closer to the tipping point where all faith in this sham market is finally abandoned, and we get the paper-->0 and physical-->gold parity.

Tue, 02/28/2012 - 11:51 | 2203996 Deo vindice
Deo vindice's picture

I agree. A controlled rise would be preferable over a parobolic one right now.

Tue, 02/28/2012 - 12:53 | 2204329 mick_richfield
mick_richfield's picture

This is a controlled rise. 

What would it look like without the 100 million ounces of funny-silver that they dumped in 7 minutes last Friday?

Tue, 02/28/2012 - 13:00 | 2204363 SilverRhino
SilverRhino's picture

Source for that?   Thanks.


Tue, 02/28/2012 - 11:51 | 2203974 The Swedish Chef
The Swedish Chef's picture

If we get a juicy LTRO tomorrow, wich I personally think we will (yes, my hotdog vebdor thiks so too), PMs will get a nice lift. Resistance levels will be crushed...



Tue, 02/28/2012 - 11:53 | 2204005 digalert
digalert's picture

I'm locked and loaded, just waiting for the margin monster to attack. I'll then unload a few barrels, scooping up the newly discounted silver. wash/rinse/repeat

Tue, 02/28/2012 - 12:06 | 2204071 The Swedish Chef
The Swedish Chef's picture

Yeah, the margin hike must be imminent, right? Wonder if the hike can win over LTRO...

Tue, 02/28/2012 - 12:01 | 2204051 benb
benb's picture

Somebody slap me out of my coma but do I sense some optimism here in the pm markets for a change?... Get me my Sherpa guide. I’m ready to make the ascent.

Tue, 02/28/2012 - 12:06 | 2204075 AgShaman
AgShaman's picture

Will a life jacket and a GPS suffice?

Group 11 Watery Graveyards 'Bitz-Sez'!

Tue, 02/28/2012 - 12:19 | 2204153 benb
benb's picture

"... This is silver -- that wonderous psychotic cunt that takes your heart and never lets go. She's a bullet train en route to $50-$70. But if you ride her, don't expect to take a direct route. Then again, she'll never let you get bored."

Ludwig Van 11/9/10

Tue, 02/28/2012 - 12:52 | 2204324 Thomas Jefferson
Thomas Jefferson's picture

2000 gold by the end of March.  Silver will lead the way.

Gold wins the political battles and silver rides through the phalanx on a white horse to incredible gains.

Tue, 02/28/2012 - 12:04 | 2204064 Shizzmoney
Shizzmoney's picture

Who the fuck do they ask for these "consumer confidence" reports?  Baghdad Bob?

Tue, 02/28/2012 - 12:08 | 2204084 uno
uno's picture

Here is an interesting scenario I am wondering about.  What if the CME crooks declared war on the JPM crooks.  JPM burned everyone with the MF Global theft, perhaps even the CRIMEX.  CRIMEX is determined to punished JPM in the best way possible, ramp the silver prices.  First they lowers margin requirements, then have their crooks buy-buy-buy.  Someone will have to annie up, most probably a truce would have to be called, giving the Crimex money and influence back.

I realize it is a stretch, but since the price is ramping, the lease rates are negative, MF really messed up the Crimex credibility, and these crooks are not used to getting burned and will over react.

I keep watching for stops being run, price dropping overnight etc, back to the usual games.

Something did change lately, I'm trying to make sense of it.

Tue, 02/28/2012 - 12:19 | 2204160 GoinFawr
GoinFawr's picture

interesting hunch. 

"What if the CME crooks declared war on the JPM crooks"

But is it

"Evil oft mars itself." Tolkein


'Thick as thieves'?

 If MFG was a robbery it had to be a highly coordinated effort, no?

Tue, 02/28/2012 - 12:59 | 2204351 mick_richfield
mick_richfield's picture

The Powers are not a single monolithic heirarchy.

Think more like mafia families, with somewhere between 3 and 7 at the top.  In good times they cooperate more than they compete.  These are not good times.

Their control has been slipping exponentially faster since about Y2K for reasons they do not fully understand.  About 4 year ago they started doing their best to cannibalize each other.  Lately some of the big bosses have started to -- go underground.  Literally.

Tue, 02/28/2012 - 13:42 | 2204436 GoinFawr
GoinFawr's picture

I'd wager Robespierre's moles are already on it.

"Sometimes the rich get too rich" Pearl S.Buck. The Good Earth

(the book, not the horrendous abomination hollywood put out in the late 30's)

Tue, 02/28/2012 - 15:09 | 2204935 uno
uno's picture

"Their control has been slipping exponentially faster since about Y2K for reasons they do not fully understand"

Some of it is from the internet and loss of their MSM monopoly, also China up and coming and distrustful of the West (for good reason) and maybe India's rise.


Tue, 02/28/2012 - 13:00 | 2204359 uno
uno's picture

yes highly coordinate, maybe JPM went too far in a panic move.  These are masters of the universe thinking thieves.

I do expect stops to be run, coordinated take down to unload shorts and profit with LTRO tomorrow, but if it keeps going up through 40's, something big changed.  I am heavy in silver, physical, Pslv, CEF, some miners, but I do also have a good amount of cash waiting for a run below 25.

Tue, 02/28/2012 - 12:17 | 2204142 Fix It Again Timmy
Fix It Again Timmy's picture

If you gave Bernanke a submarine, the first thing he would do is install screen doors on it.........

Tue, 02/28/2012 - 12:47 | 2204296 taniquetil
taniquetil's picture

He also put an ejector seat on my helicopter, claiming that "if the helicopter crashes, at least you'll still be flying high".


At least I got to expense the medical bills

Tue, 02/28/2012 - 12:31 | 2204211 Bansters-in-my-...
Bansters-in-my- feces's picture

Silver "lease rates" are dropping faster than silver is going up,and thats fast.

Negtive silver lease rates for eveyone......

Wheres our Democrazy.....????

- 0.48% silver lease rate for one month anyone...???

Tue, 02/28/2012 - 13:11 | 2204405 tmosley
tmosley's picture

Less and more silver at the same time.  Paper market straining to tear away from the physical market.

When will the chain break?

Tue, 02/28/2012 - 12:35 | 2204236 Anarchyteez
Anarchyteez's picture

I love zerohedge!


Tue, 02/28/2012 - 12:36 | 2204238 Dermasolarapate...
Dermasolarapaterraphatrima's picture

$400 for silver is what I think John Williams predicts....

Tue, 02/28/2012 - 12:50 | 2204308 Thomas Jefferson
Thomas Jefferson's picture

2015 isnot that long off now.

Tue, 02/28/2012 - 12:48 | 2204298 KingdomKum
KingdomKum's picture

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

Tue, 02/28/2012 - 12:55 | 2204335 Thomas Jefferson
Thomas Jefferson's picture

Eric Sprott probably is scavenging the world for physical silver.

Tue, 02/28/2012 - 13:51 | 2204532 BudFox2012
BudFox2012's picture

My thoughts exactly.  Either that, someone else big demanded physical delivery, and wouldn't take a bribe (buyout) in exchange.

Tue, 02/28/2012 - 13:04 | 2204378 BeerBrewer09
BeerBrewer09's picture

damn, I was having so much fun buying under $30 and under $35.

now, less shiny, white metal for my crusty, green paper.

Tue, 02/28/2012 - 13:42 | 2204502 HungrySeagull
HungrySeagull's picture

I am still buying, just as not much.

Around 40.00 I will have to stop buying and wait for the big run up try for 50 and beyond.

Tue, 02/28/2012 - 14:08 | 2204591 BeerBrewer09
BeerBrewer09's picture

Guess I'll have to spend it on Pb.

Tue, 02/28/2012 - 13:26 | 2204400 vincent
vincent's picture


Tue, 02/28/2012 - 13:32 | 2204469 The Swedish Chef
The Swedish Chef's picture

Aaaaand we have $37!

Tue, 02/28/2012 - 13:46 | 2204514 JonNadler
JonNadler's picture

But it pays no interest!! Warren said so....and he would never say anything in public which does not reflect his real views, would he? No!

Sell now!!

he he, by the way we're so nice at Kitco we'll gladly take it from you at spot so you can unload before it crashes to $6 (remember $5 to dig it out of the ground)


Tue, 02/28/2012 - 13:51 | 2204528 tmosley
tmosley's picture

Damn, I never thought I would see this guy again.  How the hell ya been, Jon?

Actually, nevermind.  I know exactly how you have been.

Tue, 02/28/2012 - 14:23 | 2204658 dwayne elizando
dwayne elizando's picture

And silver approaches JPMs price again. Should be interesting to see the two prices converge.

Tue, 02/28/2012 - 15:02 | 2204879 WTFisThat
WTFisThat's picture

Stupid button..

Tue, 02/28/2012 - 14:59 | 2204880 WTFisThat
WTFisThat's picture

In Soviet Russia silver ride you!

Tue, 02/28/2012 - 15:39 | 2205132 suckerfishzilla
suckerfishzilla's picture

I don't know anything about fibonacci.   That don't make my stack of PM's any smaller. 

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