Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
one4the road, re. the 50 gal. barrels of ink Obama administration/Federal Reserve/big banks have stored. From what I suspect they might have tanks as big as municipal water tanks full of ink.
Kyle Bass is a fund manager that's emerged as a sort of
economic guru. If you accessed some of his U-Tube interviews
you'd probably become a fan of his (like me:).
Anyways, in one interview he says he talked to a senior member of the Obama administration and asked "how they were going to grow exports if we don't allow nominal wage deflation and he said we're just going to kill the dollar".
Here's the link to that interview. Hope it works.
Just finished reading Ed Steer's Gold & SILVER Daily and he quote's a section of Ted Butler's mid-week commentary to his subscribers. Butler thinks those suppressing silver's price probably now have enough silver to blunt most of any positive price impact of Sprott's PSLV buying.
Butler says "I hope I'm wrong, but my sense is that Sprott is likely to get fairly quick delivery of whatever silver it purchases so as to avoid a repeat of the delivery delays that occurred the last time they purchased a chunk of silver."
So much for the best laid plans of mice and men. On the bright side
there might be more time to accumulate 'cheap' silver.
The economic future is a scary prospect.
Anyone thinking about buying physical gold or silver might consider....
Many conservative analyst estimate the Dollar will collapse and be replaced with a currency of an unknown quantity of gold in a basket of assets. It's been assumed our country's huge store of gold will play a major role in ours and any new World Reserve Currency. The Chinese and even the Russians understand this and have been adding gold generously to their reserves while the U.S. sits on its claim of having more gold reserves than any.
Without going into the stories of how much U.S. gold is or isn't in Ft. Knox and NY City vaults Van Greyerz, manager of Switzerland's Matterhorn Asset Management was quoted in King World's recent interview " The U.S. simply doesn't have the 8,100 tons of gold they say they possess..."
Perception is important and I'm curious if Mr. Greyerz's opinion is a developing (world) trend and what the ramifications are for our economy is if his idea becomes well accepted ?... or has it already ? What will happen to our standard of living and way of life if/when the Dollar goes bust and the U.S. has only a fraction of claimed gold in reserve ?
Thanks for the Sprott PSLV update. Seems silver is still in backwardation and possibly headed for a wider spread.
Up at at 2:00am loading more firewood in the fireplace burner box and couldn't resist watching silver trade. Interestingly the price went from 32.20 to 29.76 in 45 minutes. Wow ! a 44 cent drop in 45 minutes. Wondering if this could be an example of the EE/cartel still doing whatever it wants with the quoted price ?
SilverSufer, NUGT - very small OS and just coming off its yearly low. Interesting. Thanks.
nosebush, people see what they want to see. That's a well agreed on
idea. The average 'Joe' investor seems to find investing comfort with the idea that the present economic downturn is like all the past ones and the economy will eventually rally to prosperity. As I see it, in order for this type investor to change their bias they'll need more pocket book pain.
tallstahl, seems logical that because of silver's illegal price suppression there's a hefty amount of pent up legitimate pricing
that will catch up fast. It'll be interesting to see if there will be a trigger event causing a fast, huge price spike or a tipping point in investor sentiment producing a steady brisk rise in price.
Apparently 'the cartel' Turd Ferguson speaks about has been able to
stop gold (currently 1636) from breaking and holding above 1645 - the number suggesting a possible breakout. Silver has retreated from 30.54 to 29.68.
Guess there's not enough recognizable bad news yet.
Alert ! In Turd Ferguson's latest report he says silver will follow gold and to watch Gold's price. If the cartel lets gold break and hold above 1645 the next battle ground will be at 1700.
Currently gold is @ $ 1654 with silver up about 35 cents.
one4theroad, Silver Doc isn't a big fan of Clive that's to be sure.
lol
For some time I've wondered how short term technical analysis of silver's pricing could possibly be of much accuracy in light of the huge illegal concentrated positions being used by Big Banks.
The powers using paper certs know all the technical (trading) information and have used it to exaggerate silver&gold prices to the downside making the price weaknesses look legitimate.
However, long range price trends are impossible to corrupt to any major extent and it's these long term (technical) trends that encourage me to keep stacking.
If Clive is correct it'll be OK with me - I'll be able to accumulate more ounces before a new bull market begins.
Another article by Clive Maund at http://www.321gold.com
His technical gold/silver analysis is accompanied by some interesting 'what if' fundamentals.
His take on gold/silver while bearish lately and not what
I like to read (lol) has been near spot-on and is worthy of consideration.
Thanks Stinky pinky. Since Harvey Organ mentioned Sprott's SEC filing could be approved in as little as two weeks it led me to think approval might not be automatic. In today's (crooked) environment anything seems possible.
COMMODITY ON LINE mentioned the Doc (of silverdoctors.blog)
stated the filing was on Nov. 17. The Doc went on... " Notice that the cartel initiated a new massive silver raid THAT VERY EVENING, so far taking silver nearly 15% lower from $35 to $30 ! He went on saying the raid was an effort to scare potential investors away from PSLV/silver. From what you've offered (PSLV premiums growing 30% over spot plus silver entering backwardization ) the cartel's raid/s haven't worked : )
James Turk's prediction of silver
doubling from current levels might
be a conservation estimate.
On or around Nov. 23 of last year Eric Sprott filed paperwork
for future purchases of $ 1.5 Billion in silver. I'm wondering
if the request was approved ?
Great articles of late - thanks all.
For consideration:
Jim Rogers is betting the EU/euro will strengthen short term sending gold substantially lower.
John Embry says gold will never see $ 1,500 again.
Thanks Stinky pinky. The article by Kirby provides a backdrop for understanding what's happening and what will likely happen in the future. I'm wondering:
* If Big Banks/Federal Reserve will continue buying until the end ? (Hint. Kirby said the more gold&silver they acquire the longer their game can continue).
** If Big Banks' buying gold&silver will greatly accelerate the decoupling of paper from physical pricing ?
*** If Big Banks/Federal Reserve will attempt to keep gold&silver prices this low or lower for an extended time ? (From accounts I've read there isn't very much gold Or silver available for purchase which might cause them to extend their price suppression for as long as possible while they accumulate more physical).
Comments and further extrapolations appreciated.
Thanks. Google the headlines in bold. Sorry my link didn't work.
"The federal Reserve is Selling Paper Gold and Buying Physical Gold The good ole 'American' Way' - through proxies" by Rob Kirby
http://www.financialsense.com/?q=contriburors/rob-kirby/the-federal-reserve-is-selling-paper-gold-and-buying-physical-gold
Sorry. The above link doesn't work. Google the article's headline shown above in bold. It's a good article and well worth the read.
The system of printing more 'paper' gold&silver certificates was planned well in advance of today's market. It has allowed two major things to happen.
The first was and is still current - the suppression of gold&silver prices which is likely to remain until until the demise of the corrupt system. The second thing is allowing the culprits of price suppression - the Central Banks with the Fed's blessings - to accumulate gold&silver at cheap prices with fiat dollars printed and given to them by U.S. taxpayers !
Apparently the well thought out plan has entered its second and final stage. The ramifications of our governments' plan ought to both scare you and boil your blood.
Stinky pinky, what you're describing - more blatant and extreme suppression of price , central banks stockpiling gold and an accelerating world financial crisis seems to be a slam-dunk recipe
for eventual sudden , rapid gold/silver price increases.
No doubt the c' banks will continue suppressing the price with their paper certificates while accumulating physical as fast as possible (without raising the prices too fast).
One great tactic they've used to acquire silver/gold is to catch the markets at tops after a sufficient numbers of highly leveraged speculators have entered and then both shorted huge while getting the margin rates dramatically raised. This has allowed central banks to swoop in and relieve near all the speculators of their entire holding at cheap-O prices without raising the price.
Central bankers are past masters of this procedure and contunue using it over and over.
A really nice philosophical article about things we shouldn't forget that have happened, why we are saving silver and suggested priorities of preparing for bad times by Ryan Jordan Lecturer at University of San Diego.
http://ryanpjordan.com/
0T....Norton, goes to show disaster has its own schedule.
Next time out with the two dogs (at an inconvenient time)
try it with: Take a 10 ft. nylon cord just strong enough they can't break it. Tie a very brief 'hangman's knot off center about 2 ft toward the middle of the cord allowing the opening in the knot to secure the clip of a 3-4 ft strong leash. Tie clips to the ends of the nylon cord for attachment to the leash rings on their secure collars. Put the strong leash end clip through the loop on your brief hangman's knot and the clips on the end of your nylon cord to the collars and take off.
Hope this helps
For those who are frustrated re. the price of silver/gold I'll offer what many of you already know.
There's still enough free market dynamics involved with gold & silver pricing to find legitimate prices. So far, the 'Evil Empire' has leveraged both their enormous quantity of fiat silver
and gold paper certs' and fiat cash currency to manipulate prices down.
However, at a certain economic crises point enough money will flee to physical silver/gold to decouple paper pricing from physical pricing. With the MF Global theft thing investors have lost a certain amount of confidence in the U.S. (paper) system of investing. Whether or not this (MF Global) and other negative economic news is enough to effect a permanent decoupling at this time remains to be seen.
Comparing the current investment community to the frog in the pot
of rising water temperature I'm wondering if the temp' is increasing too fast and the frog/investors will notice their situation and leap to safety (of precious metals) before being boiled ? At least the frog is now quivering. My bet is on the frog jumping at some point in time. JUMP ! JUMP !!! : )
SilverEagle, Exactly right. Stocking a few key items for barter would be excellent. It's difficult trying to calculate needs in so many possible future economic scenarios but I wouldn't want to be without silver/gold (which has always retained value through thick & thin times).
OT....White Cobra, you've outlined a dilemma most of us ought to consider - that of surviving as comfortably as possible in the event of a collapse of the dollar and along with it at least partial collapses of food distribution, social order, etc.
Its been estimated that silver&gold will retain their comparable value to other things when a currency restructure happens. If this is correct then you'd want either or both physical silver/gold.
While this isn't a survival board re. food you might consider both short term and long term aspects. In the event of panic due to a sudden financial crash you'd possibly want a 30-90 day food supply which you can easily get via stocking and rotating canned and freeze dried foods. (Only stock what you like to eat provided it's a healthy mix). This isn't an ad but Costco offers a nice line of freeze dried food on-line at fairly reasonable prices. Longer term you might want to investigate:
Bulk freeze dried food storage
A backyard garden along with how to can/preserve
Buying stock in various companies associated with food growing
Back to owning gold/silver in the event of the end of the dollar as the world's reserve currency, if it happens I wouldn't want to be without a good amount of gold or silver.
Hope the above helps.
tallstahl, you figure local dealers aren't buying because they think the price is going lower ?
COMEX&JPMorgan playing the silver price like a yo-yo - up down up down..loop de loop..walking the dog, etc as our government's watch dogs sit back not wanting to disturb the show.
The whole thing is disgusting with the exception of allowing a few who look into the future and see opportunity to stack physical silver cheap.
Silver Ready for Takeoff ? Author thinks yes.
http://www.safehaven.com/article/23529/silver-ready-for-take-off
Stinky p', Thanks for another fine article. This one does a good job of summarizing several areas of interest to silver investors.
Stinky pinky, Your supposition that the Fed' has no intention to bail the EU out is likely right. Some of the initial headlines concerning various world's central banks offering to loan European banks at discounted rates isn't a bailout...although the Euros they'll hold as collateral is probably token collateral.
The loans are to boast EU banks liquidity so they can kick the can closer to the abyss. Hopefully the best part for gold/silver stackers is the massive euro printing by the EBC that might ensue.
Next week could? be a good one for silver considering the possible initiating of massive EBC euro printing and approval of Eric Sprott's recent filing.
one4theroad, evidently the Fed' thinks everyone is stupid too.
Stinky pinky, if the sucker's rally you mentioned is the U.S. stock market's big upward bounce yesterday I concur with you.
I suspect our Fed' has had more than it's nose under the EU tent for quite some time and is willing to lend more than its name to the list of central banks helping Europe. (Paranoid is good when looking at what's been happening).
SilverEagle, Can't remember which analyst stated that with more money printing the consequences would be worse. It's scary thinking about the future alright.
Stinky pinky, apparently the Fed' will hep European Banks continue kicking their euro can down the road. The article can be accessed on King World news web site under the title...Rick Rule - Fed Bailout of Europe Sends Gold Soaring
In this interview Rick Rule says both possible scenario endings would be bullish for gold. As gold's little brother silver we could expect the same.
Stinky pinky, good information. Thanks.
As our government's proxy it'll be interesting to see if JP Morgan Chase's hand is ever fully investigated in the MF Global theft. Holder seems to see no evil, hear no evil, speak (about) no evil
re. Big Banking of recent history.
Stinky p'. OK sounds logical provided they/US banks got insurance for their insurance and in the crazy derivatives market I guess they did. After a little research U.S BigBank liability to EU might? not be as astronomical as thought. A recent CNN article cited Italy's sovereign debt at only $262 billion with the rest of the PIIGS total debt less than Italy's. Heck, if U.S. banks couldn't pony up the money our gov' could handily print off enough dollars to cover the entire EU debt. What's a few hundred billion
compared to what we've already done :)
http://money.cnn.com/2011/07/15/news/internationaly/italy_debt_banks/index.htm
Either way it's good for gold/silver prices to increase. Can't wait for approval of Sprott's $1.5 billion request.
Stinky p' , just wondering how the five or so U.S. banks that sold default insurance to the European banks are going to 'make money' when the EU banks fail ? Guess the U.S. banks could deny paying the claims. What's your take on the possibilities ?
Stinky pinky, sometimes it's hard to change a mindset :) and I've thought we might have another 24-48 months before the West's finances unraveled. It'll be interesting to see if the Fed' can successfully apply a tourniquet on the EU's bleeding
finances.
I've been hoping to accumulate more physical silver at modest prices and if the scenario you seem to be suggesting is correct the buying of cheap silver is about to end abruptly.
Stink pinky, re. Martin Armstrong's view that the U.S. won't return to a gold standard I have to wonder how much his judgement might be skewed because of his (justified) hatred of certain U.S. Big Banks.
I'm guessing the U.S. might eventually have to fall in line with other countries as a new world-wide move back to some form of gold standard happens.
While Armstrong isn't perfect in his economic predictions what he says is worthy of serious consideration.
Stinkypinky, you're likely correct that the EU/euro can't be salvaged - at least with its present membership. Everyone knows the name of the game is kick the can down the road and... seeing our BigBanks have sold EU banks $$$trillions in credit default swaps/derivatives which is insurance against default it's clear that our banks will fail if EU banks go under. Our government has to keep the European banks afloat or go down with them. So.. it seems we're about to find out just how much fiat currency or Fed' can print and in the process of attempting to save the EU/euro we'll likely see some major changes in the membership of the EU.
SilverSurfer, I agree. After reading the latest news that's what it looks like - the U.S. chapter of Evil Empire is uniting with the EU chapter in a concerted effort to print enough dollars & euros to stretch to Mars.
Should Eric Sprott get his $1.5 billion silver purchase approved plus what our Fed' seems to be planning re. a EU bailout it appears
gold and silver might do very well next year. We can hope.
Provident is Texas based so shipping to a Texas address gets charged the Texas sales tax (approx' 8%) unless buying $1,000 or more. Good prices, nice folks and a pleasure to do business with.