Monday, February 21, 2011

73 Cent Silver???

Oops, sorry! That's what the backwardation is at now. 73 cents! I'll make this easy to understand: if you don't get your hands on physical soon, you may not have a chance to, and if you by chance come across some a year from now, you most likely wont be able to afford it.

The arbitrageurs are out, retail is welcome to take advantage of this opportunity. Let me know if my strong "BUY SILVER NOW" article helped you not too long ago, lets open this up for some positive, constructive comments.

As a frequent ZH poster says: Silver BITCHEZ!

You know how to thank me...


  1. Really starting to get interesting now. Appreciate the blog SGS, keep it up!

    Silver miner for those interested, really like the upside for Alexco Resources. Own the old United Keno Hill mines up in Yukon, Canada. From what I read there is plenty of silver still there and the grades are very high. I expect a string of good news coming out of this one, and to boot they began producing as of Jan 1 this year. Expecting 2-2.8 million oz or thereabouts in 2011 with this first mine and this is only the first in several mines they will begin rolling out. Sensible share structure and balance sheet.

    Sorry if I sound like shill, just trying to help others who want to take advantage of this moment. Do your own DD.

  2. I like your board here better than YHOO or most any other place other than the usual reputable stalwarts of precious metals. I check here now more than anywhere else. And I even like the freedom of posters here to vent once in a while.
    God Bless you for your efforts here. Thanks.

  3. Backwardation curve is looking steeper.

  4. Mr. SGS,

    I cant thank you enough. I did not own a single ounce of silver until I saw your first bears video. I know own 8160 ounces.

    It's gonna be an epic week.

    Thanks again!

  5. Silver @ 33.79. This is so great to watch. We need a reality show where we all sit around watching the price of silver rise day after day, high fiving each other, and throwing darts at the Blythe Doll.
    Hey SGS, come on! Was that really a Blythe doll? Haaaaaaaaaaaaaaaa! ROTFLMAO! Fuck you Blythe, you whore!

  6. 8160 oz's? Not bad. You should do well to say the least. I would suggest you spread that out...if shit hits the fan, you may need to relocate in a hurry, so having some at a parents house, or buried somewhere is not bad idea as things escalate...b/c if push comes to shove, transporting 8K+ oz's is pretty heavy!

  7. ok..I have some Palladium.. bought 15k worth a year ago or so, now worth 25k.. how will silver compared to Palladium?? any thoughts? thx..

  8. Mr. SGS,

    Fair comment and I've been thinking that could be a problem.

    I know you have a exit strategy (for some of your holdings to turn a profit). I had planned on converting 5000 oz's to gold when the price is right. But what is the right price to take profit and buy gold? I thought I had seen you mention $87.

    Whats you magic number?

    Thanks for your help.

  9. I wouldn't be converting that to gold or you may loose out on some serious gains..if I were to say convert to gold, simply in terms of a logistical transportation problem of your PM's, I would say, when the silver/gold ratio is 19:1, then I would convert say 75% to gold...thats just a quick estimate on an exit strategy I'd say.

    Pearl: If shit hits the fan, not sure if people would want palladium, it will do well, but I doubt as well as silver on a % gain basis.

  10. SGS,

    Are you keeping an eye on the SHITuation around the Iranian warships? Looks like the U.S. may be thinking about getting involved.

  11. Mr. SGS, thanks mate.

    Just hit $34. HIHO Silver!

    Need a new bears video mate. Please continue to include fart/shit jokes. Every time something weird happens at the house I hear my wife saying (mimicking the brown bears voice) "mate, I think I've just shit myself" ......funny stuff.

  12. By positioning the Enterprise opposite Iran's 12th Flotilla at the Red Sea entrance to the Suez Canal on Feb. 17 Washington has confronted Tehran with a hard dilemma, which was practically spelled out by US State Department spokesman P.J. Crowley a day earlier: "If the ships move through the canal, we will evaluate what they actually do," he said. "It's not really about the ships. It's about what the ships are carrying, what's their destination, what's the cargo on board, where's it going, to whom and for what benefit."... The next date announced for their passage, Tuesday night, Feb. 22, will be a testing moment.


    and to think I was about to put 10% of my final fiat into physical at 32.50 before the open....

    ugh...missed out there. I find it hard to believe Blythe can raid at all now. Fuck it, i'll just buy it now. I find it hard to believe she will be able to drop the price 10% over night this close to March.


    I have had an email exchange with NED SCHMIDT the so called AGRICULTURE SPECIALIST who also writes "GOLD THOUGHTS" that you can find on Financial Sense. Ned wrote a few months ago how Gold and Silver were in a BUBBLE. I went to his website to send him a comment. I asked for his email address and their reply was..."HE ISN'T INTERESTED"

    We had a lively email exchange back then. Interestingly over the next month when silver hit $30 in DEC, he then wrote another article stating the BLAME for the precious metals move higher was because of the so called LOUSY FED.

    He then wrote another article which focused on SILVER. Here are two highlights:

    Spurred on by spurious stories of Silver shortages by Silver conspiracists, Silver moved above the most recent highs. While not yet sure if this is a breakout or a triple top, the Silver market, the tail, moved higher. After Silver added an irrational 3% in one day, Gold, the dog, followed the tail higher.

    .....As is readily evident in that table, Silver is over valued and approaching price levels where a reduction in exposure might be warranted. In particular, given the relative valuations, a swap of Silver into either Gold, or possibly Rhodium, is probably appropriate. Naturally such a move should be in part dependent on the size of Silver holdings relative to an investor’s total portfolio. Those over weighted in Silver are most at risk, and should begin shifting their portfolio.

    I sent NED another professional email replying to his article:
    Steve to Ned

    show details 2:28 AM (8 hours ago)


    I read your last GOLD THOUGHTS on SILVER. All I can say is, your SUBSCRIBERS might start to think you don't know what in the hell you are talking about. SILVER IS OVERSOLD???....well.....looks like you got that CALL WRONG $3 dollars higher since you wrote that lousy article.

    I gather you are going to write another REBUTTLE article blaming it on the FED AGAIN...that might keep a few subscribers from leaving for a lil while longer.

    I don't know who is or DENNIS GARTMAN.


    Ned Schmidt to me
    show details 6:33 AM (3 hours ago)

    Really don't pay attention to morons like you that cannot afford a subscription.

    Good luck bagging groceries after you lose your money.

    Ned is a complete LUNATIC....again I am suprised that he still has subscribers. I wonder how is call is sitting with those subscribers who sold at $28-$30 now that silver just passed $34.

  15. ask Ned if Netflix is a buy still....