Well, it looks as though Blythe has not made it into work yet, and the situation in the middle east is getting worse not better. Libya is now getting ready for what looks like an imminent revolution like its neighbors.
Silver is being squeezed to $28.30 as I write this.
I also want to point out the spread between Brent Crude and WTI is, quite bluntly, now retarded at $10.
I am still hungover from my best man's wedding last night, so those of you whose penis' shriveled up and did not buy some silver at $26.50 thursday night in fear it would go to ZERO, like I said to pick up a little, are now probably pounding your keybords. I would have liked to come into the $25.49's, but 1 million protesters kinda derailed that. Dont worry about it. I am here for you. Many, many more opportunities here to buy at what you perceive is a 'lower' price relative to fiat.
Tomorrow morning Blythe should show up at 7 am, and realize the horror, if her asshole has not yet pukered with tonights action already. I expect the panic to begin...but I also suspect a some dollar strength...more to come.
Here we go! I picked up plenty on this last dip, but theres nothing wrong with more. Does price really matter anyway? The biggest question on my mind is this, should i be buying any gold at all? It seems like silver is such a play that every time i buy an ounce of gold i think of the 50 ounces of silver i could have bought instead. I know its all good but the silver seems so much better.
ReplyDeleteI buy silver for several reasons other than gold. One being I cant argue with 5000 yrs of history. Anywhere from 14-16:1 ratio, is where it must go-it always does. Thus, gold is great, but IF we revert back to the historical ratio, Silver will outperform gold by many percentages. Look for that gap to start narrowing as the paper price rises moving forward.
ReplyDeletePOS (price of Silver) should already be at $100, if it wasn't for that witch....
Thanks for keeping all of us silver vigilantes informed MrSilverGoldSilver. Since next week is February, do you expect this to carry out much longer? I had read somewhere that supposedly some hedge funds were waiting in the wings to start buying the March futures and force settlements with cash premiums since they cannot deliver. -Crash JPMorgan Buy Silver!
ReplyDeleteI have some physicals and a lot of paper silver. My biggest concern now is the following.
ReplyDelete1. CFTC has not officially regulate the position limits
2. CFTC will again post further margin requirement
3. Chinese New Year holiday coming up. Chinese won't be making counter moves against what Blythe and JP Morgan will do to drive down the market. They may take advantage for the next two weeks to further suppress the silver price one way or the other.
One question though, I just read that China is allowing bank to do foreign currency swap with yuan starting March 1st. Will that affect the precious metal prices negatively ? If people can move to Yuan, then they will think twice about buying precious metal.
ReplyDelete"Chinese New Year holiday coming up. Chinese won't be making counter moves against..."
ReplyDeleteCheck link below...nuff said...CTFC is a joke, biggest diversion going right now. Also please state your paper holdings so I have a better idea as to where to guide you.
http://www.zerohedge.com/article/china-central-bank-advisor-urges-increase-official-gold-reserves
Yuan has nothing to do with it, Reserve currency has everything to do with it. If they are moving into Yuan, than they will be dumping US$, bullish for PM's. Also murmurs out of China about going on a Gold Standard there tonight. Seems as though the people are figuring out that the world of fiat is going to end soon.
There is nowhere to turn. They are stuck. Print more, or fail. They will print more, before failing, and worry about inflation later. Or raise rates...LOL, ya that will never happen.
I am coining a new term, Its called the "The Decade of Epic" in which this decade will be life altering.
I bought a lot of AGQ back in Nov 10.
ReplyDeleteAnd I have loaded with call options on the SLV and AGQ back at december.
If China is considering moving to a gold standard, then their reported 1,000 tonnes of gold reserves are grotesquely understated, which of course is not surprising at all. In order for this to go down, they would have to be accumulating gold in total secrecy or otherwise risk the price of gold skyrocketing and risk trashing the value of their own US bonds. It’s a very delicate situation they are in. Given that China is now the largest producer and importer of gold, and they have been encouraging their citizens to buy PMs (you would NEVER hear that advice from the US govt), it seems entirely plausible they might be moving to a gold standard.
ReplyDeleteLike I said in Part 3 video, China has been slowly extracting the physical from the COMEX onto their shores, while helping the JP Morgue keep the price suppressed. There are some interesting things happening today in gold.
ReplyDelete"...some interesting things happening...". Can you be more specific ? Are you referring to Gold being push down while Silver doing slightly better ?
ReplyDeleteI read it somewhere that JP Mor and Blythe will try to push the silver price down by dragging the gold down. Do you think it is happening now ?
Hi Silvergoldsilver... seems like you know what is going on in the market.. you have "inside info/connections" or is this your conclusion due to studying the market?...or both?? thanks and glad you have your blog up..
ReplyDeleteI am a former wall street trader. And I have connections. The two combined are lethal. lol, j/k...
ReplyDeleteYes the JP and Blythe have one option left before the end game>suppress gold and silver as long as possible until Ben gives the heads up on the new QE3, or even better, the new currency. Ooops, did I just reveal something? lol