On a different note, Gold Bullion considered as collateral by international clearing house – LCH.Clearnet-how bout them apples?
Tuesday, February 8, 2011
Failed Blythe Raid in the early AM on Silver
Well she tried on the China rate raise news, but got SMOKED. Expect some volatility today as the powers to be scratch their heads and try and figure out a way to quell this buying frenzy.
On a different note, Gold Bullion considered as collateral by international clearing house – LCH.Clearnet-how bout them apples?
On a different note, Gold Bullion considered as collateral by international clearing house – LCH.Clearnet-how bout them apples?
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I can think of two things they can do. They got friends in CFTC right ? The 60 days may come to play soon and they will further changing the rules.
ReplyDeleteAnother one is Ben will be making some comment about metal market and pave the way to make laws about confiscating PM. It is a bit too wild but it is possible. They may try to do similar stuff to Hunt's brother to us.
BTW, something bothers me a bit about the SLW. I get rid of my AGQ and jumped into the SLW. But the performance of SLW is far inferior than the AGQ.
ReplyDeleteSGS, any comment ?
Hmm.... S&P again cutting other currency rating. This time is the Jordan. Could it be another way to suppress PM market ? By cutting other currency, it boost US dollar and down the PM... Could it be ?
ReplyDeleteHow is the US going to confiscate the gold and silver held by the Chinese, the Arabs, and the Russians? They are driving the markets and taking delivery, so the COMEX is toast no matter if they confiscate or not. In fact, there will probably be a significant run on the available stocks of PM, with delivery taken (and disappearing) offshore.
ReplyDeleteIf confiscation is seriously considered, they will have to admit that PM are actually money, and then watch as the PM prices skyrocket, giving lie to the notion that there is no inflation. The Chinese, for example, could dump about 40 percent of their UST holdings and buy up all of the available silver everywhere. The crap about protecting their dollar holdings will fall away, because the dollar will be seen as the toilet paper that it is if the US resorts to confiscation.
And, finally, are they really going to get any significant gold back through confiscation? Most if it is now held in strong hands that will not give it up willingly. In the 1930's, the US got only about 50 to 60 percent of the gold it figured that it would get, because they paid the going rate for it. The rest of it just disappeared. Now, with real investors holding it, nobody will turn it in without a significant price increase, say a factor of three or four from these prices. In that case, the dollar is smoked anyway.
What happens next? What spot will silver hold? Any scenarios?
ReplyDeleteTo clarify ,I do not mean spot as in spot price. I mean what spot as in will it be a form of currency? Simply a store of value till we find a new currency? Any insights or ideas?
ReplyDeleteThe Morgue is playin all of you! Silver will be below 25 by the end of the week. BWAHAHAHAHAHA
ReplyDelete$25 silver, you promise? I've been hoping for that for couple months now.
ReplyDeleteI highly doubt Blthye could drop it 6 dollar in 1 week. But we shall see. No one is settling in premiums anymore, dont you get that?
ReplyDeleteand you are totally right. it doesn't matter if you save a few bucks an oz. Buy physical now. Even at 30.30 and it goes to 25 by the end of the week. No big deal because at the end of the week if it dropped that much it'd be hard to find supply anyway
ReplyDeletejust buy NOW while you can still find Physical...you know Blythe is going door to door acquiring as much physical as possible if she do that...why the fuck wouldnt we do it?
Allah be praised, Anonymous is correct. I am on my way to bazaar to exchange two camel and a large sack of figs and dates for eagles, maples, and 'roos.
ReplyDeleteHi Mr. SilverGoldSilver. I'm just wondering how you know that Blythe was shorting today. Is there some data available on the CME site that shows short positions in future contracts, or what? If so I can't find it. Sorry if this is a silly question, I'm a PM noob.
ReplyDeleteI have contacts on the inside...when the news was out, Blythe was shorting, market shot up in her face, started to cover, and now she's elbow deep. More to come tonight.
ReplyDeleteUser 2008...AGQ follows spot, SLW does other things sometimes.
Autoparts...wait for new vid I explain the end game scenerios
Any news against PM's is all noise from here on out...check in later tonight for complete update
Someone on silverseek stated its part of a plan to crash the USD to roll in a new currency. The Chinese want the paper trade gone as they think its a greedy/awful thing to drive the prices of things we need up to make profit. This actually makes sense to me. Paper trade is EVIL?
ReplyDeleteIt seems to fit together so far. Chinese president flys in, tells America all 140 counties have voted to end the stupidness of the current world debt problems, then all USA ambassadors returned for breifing.
Start speculation here;
So.. JPM/comex goes bust, Obama brings the change by removing the FED (Publicly, but maybe not in the shadows), removing the comex paper trade and resets. Thus pretending to the general public it was needed. JPM/FED e.t.c all walk away with real gold/silver so they are happy/filthy rich and the peeps who hold physical can get a leg up on the cash in after the new system...
Right so far? Spoiler alert for Part 4? At any rate <3 for breaking me out of my filthy habbit of wasting money on and turning me in to a gold and silver hording scrooge. The reality is you did change lives with your information about FIAT/Governments. I don't even buy take away beverages anymore, i just think about that extra 2oz coin im buying by not paying for take away coffee. My children will be happy on their 18th when I back the track up and dump their share of gold/silver on them.
mohammed appledbee... how much money you have? wanna bet it all?
ReplyDeleteI was just wondering if you'd ever checked out a silver producer called Aurcana (AUN.V) soon to start up the Shafter mine in Texas? It'll be the 12th largest pure silver mine in the world, and right now the stock is still selling for around $0.70. Could it be held down while it's being accumulated by bigger players. It seems Eric Sprott is in on the financing and accumulated a large amount of shares as well, so he'd be wanting the stock to go higher. If I look at the FailuresToDeliver.com site and use the US symbol for Aurcana of AUNFF, I get a large amount of Failures To Deliver. Any insights on this would be appreciated.
ReplyDeleteChris
There is no master plan...the financial system is slowly imploding...there are only folks that are going to be running around in a panic when it all collapses versus those who have sufficient Precious Metals/Land/Other holdings to survive and prosper.
ReplyDeleteIf it holds above $30 for a bit, I think we'll have a new base.
ReplyDeleteForget $30, I'll even take a hold above $29 to print a new weekly candle...but I'll take $30 too ;)
ReplyDeleteRe SLW, ya, all the miners I have didn't perform as well as I would have expected, compared with similar days (though what day compares with today?). Made me wonder if EE was shorting the stocks and capping gold as the only ways to combat the silver buying.
ReplyDeletesilvergoldsilver, I like your one-or-two-sentence summations of the world in a given moment - pretty much draws the picture.