Monday, February 28, 2011

Okay Mrs Masters you win, BUT

Seeing as though we are tickle'lackling $34 skee's again, I'm assuming you have the CRIMEX in your back pocket as this is what spot pricing action at this point is telling us. Well Done. You live till May. Until then, I hope you can cover your shorts at $40. Good luck. I'm assuming you have 110% of the copper market now and you are working on the zinc market too I hear in order to offset losses, and big ones that are mounting. Gear up for battle, we are ready.

I'm also assuming you have not cornered the short in Tinka Resources (TK.V or TKRFF) as there seems to be no more sellers that want to get in the way of this freight train. $1.50 target. Show me the MONEY!

PS. $US below 77, watch out...I'm expecting a retest bounce back to that level, but this does not look healthy for the dollar here...


  1. Blythe is a stern mistress. I guess we are just her perpetual bitches, and will have to take our silver rises in dollars by the week, instead of 10 bucks a day. C'est la vie.

  2. Blythe is strong. She has the weight of the whole market behind her - because - she makes money by alternating passing out torture and ecstasy to different sectors. One day it can be market down, gold silver up. Another day oil up, copper down. She runs the pushes a little too far, like she did to silver in January. This causes overleveraged weak hands to dump their longs, and when they do, she can contract the open interest, and let the market bottom and turn back up. Only now she has fewer contracts short. I believe we have seen that NO ONE, not Wynter Benton, NO ONE has the firepower to stand for delivery in large enough quantities to make her sweat. I'm thinking we get an easy ride into tomorrow, and then Wednesday she lowers the hammer on silver. Past the prying eyes of the COT reporting cutoff of Tuesday. By the time we see she upped the ante on commercial shorts, it's a week and a half later and ancient history. JMHO of course.

  3. Sassballsgrandpa, I understand that you run a veru extensive spreadsheet on SLW. Do you have any hunches on how their earnings report will be like this week?

  4. Ballsy Grandpa,

    I have to agree with you - "I believe we have seen that NO ONE, not Wynter Benton, NO ONE has the firepower to stand for delivery in large enough quantities to make her sweat."

    As I've said on Turd's blog, you MUST clear out gold and silver at ALL 6,000 coin shops across the US. Make the demand for retail products felt so hard that the refiners have no choice but to increase production, in effect pulling the metals away from the stock that normally go to industrial users only. Make the demand felt up through the entire channel, up through the distributors, the refiners, the brokers, and COMEX itself.

    It's the ONLY way it's going to happen. Screw the paper markets. They used to be primarily a means to provide money to companies to get going/continue operations and provide income to the stockholders in return. They still do this today, but there's a heightened urgency to make sure the money stays there. The paper markets are now used today to do ONE thing - keep you STUCK in paper, anything to keep you out of PMs in a physical sense. Even all the mining/ETF stocks have PRECISELY that effect. ANYTHING to keep you in paper!


  5. K - I do not have any hunches. Only been following them since December. I love their story and simplicity of concept. On my spreadsheet (linked below) it pretty clearly shows that they are leveraged about 2 to 1 to the price of silver. So if silver goes from 35 to 70 an ounce in 2013, EPS more than doubles from 3ish to 7ish per share.

    SLW Spreadsheet

    Silver Data Spreadsheet

  6. 4250. Who is the moron now, huh?

    (Oh god yeah, now those numbers are all fake, of course. You wimp, can't you stand up like a man and say: Shit, I was wrong this time. Doesn't make you smaller, the opposite is quite true).

    BTW: Just because I use brain over hystery and ask questions that some rather not want to hear does not mean that I am not on your side.

  7. Big long binary name:
    We silver lovers HAVE been doing that! I have bought 100 ounces physical in last 2 months. US Mint sales of Silver Eagles are thru the roof. Same true for Canadian and Australian mints. Just checked Gainesville this weekend, many "out of stock". By the way, I bought in when silver was $23 an ounce on October 26, 2010 (the day Bart Chilton said there was manipulation). The fact that it is near $34 an ounce today is very impressive, and is testament to us tinfoil hat wearers steadily accumulating..

  8. SGS...

    So can we simplify things for simpletons like myself, I really wish you including a little more explanation in your blog.

    Do we have the OI number and if not when should we expect it?

    Do you still have confidence in your inside sources? I am assuming your bear videos were based on these inside sources and it appears they may have been wrong or feeding you bad information?

    It seems that all the fundemantals are on the side of Long Silver, but the whole crash JP Morgan and the Comex which would cause Silver to go Parabolic is still highly in question.

    I fear that as long as TPTB have the ability to buy out contracts with fiat, there will be no destroying the comex until fiat is no longer desirable. Ofcourse for fiat to lose its desirability, well then the comex, the fed, the Us government will no longer be important. Thus crashing the Comex or Jp Morgan wont matter one bit.

    So with that said, I am just speculating here, that we will not see a parabolic rise in Silver prices unless fiat collapses first, and then it wont really matter anyhow as food and guns will be king until after the reset occurs.

    If I am wrong about this, I would love a simpleton explanation, because I certainly do not like being a sheep.

  9. I know I know.. but I'm going to say it any way.
    We have futures contract limits coming up. Yes I know the CFTC is a joke. But, The Morgue has cut its total silver shorts from 60,000 contracts to 19,000. They are wanting out. We have backwardation at 1.16. We are seeing the mints having trouble sourcing metal. etc etc etc. Can the Morgue still cause the spot price to plunge? sure they can. But they can't do it the way they did in 2008. I have had 4 1000.00 face bags since 92'. those bags were my SHTF insurance policy for my family. I got a hold of Butlers book in 2003 and went all in with the purchase of 1000.00 face bags at 5.00 an ounce. Now I am just trying to use some leverage in options to make some frns. we will see what happens into July. I don't think Blythe is out of the woods yet.

  10. I will say this. Thanks to you SGS and the thinking that it was a very high probability of the COMEX collapsing caused me to go very heavily into Physical. So for that I thank you.

  11. OI is already out:

    4250 is the number. Of course it could be fudged, but keep in mind the rest of the world sees the same number and will react to this number, not some number from an unnamed trader.

  12. I would say that gold and silver fans are benefitting tremendously from the general unease in the world today. The sheep can't quite put their finger on it, but something's just not right. We did NOT come out of the recession. No good full time jobs left. Food and gas prices going thru the roof. Protests in Wisconsin, Libya, whole mideast. Repubs and Dems fighting amongst themselves over small matters rather than addressing the large structural issues we are having. I had a 70 year old over to my house yesterday, and out of the blue he asked me if I knew the best way to boy silver. He did NOT know I was a silver bug.

  13. How does 4250 compare to the last time? If it was true that 7000 was enough to supposedly bust the comex, it would seem 4250 would be a 61% clear out of their physical is not an insignificant thing.

  14. @waffen I agree with most of what you say. Been a physical buyer myself.

    Just bothers me to see how much funny money can be made by leveraging yourself in XAG game. Although even if you make a million and bailout and can't buy physical anymore what good is the money.

    My hope is I can still transfer the fait into my hobby farm. I want to be off the grid and self sustained.

  15. Waffen - believe me, if 4,250 actually stand and don't get bought off, that WILL be a big deal, will about cut the COMEX registered in about half. Sell the COMEX tab in my Silver Data spreadsheet linked in an earlier comment..

  16. This seems to be one of the points of paper money crashing against real assets. We're not quite there yet, but certainly seems like stress lines are appearing. Remember, if the system comes down.... it may *really* come down and have repercussions everywhere.

  17. Grandpa,

    SE is my name initial, so don't worry about using my hexadecimal designation (apparently the profile posting programs gives me that across different blogs...).

    Good for you that are you buying what you can. That is what we need to do. Unfortunately, I'm out as a buyer because of silver being over $25. I'm just a wage earner, making less than half of what my peers make. I bought in when it was $6-7/oz, most of my holdings under $13. I will buy more if it can get back below $25/oz, though it's looking unlikely now given the circumstances. I'm on the sidelines waiting to make my move with cash set aside EXACTLY for that move. In the meantime, I'm positioning myself to build supplies.


  18. 4250 contracts is about 660 metric tonnes, roughly the size of the Sprott Physical Silver Trust. People say that it took him 10 weeks to get the metal and although he took the time, he caused the price to go up by 3 or 4 US$/oz.

    If the 4250 do not sell but rather wait for delivery, this would be significant.

    But remember December: of the 5500 contracts OI on First Notice Day, only about 1800 were delivered. Everyone else settled for cash.


  19. sassballsgranda Nice the way can you tell me how you made those links?

  20. @ victor..

    Thanks, so of the 4250, when will we know how much physical is taken out? Not till the end of the month? Considering that even less stood for delivery on the first day then in December, I would say that's incredibly disappointing and should be the end of the Wynter Benton non sense.

  21. I HATE how there are like 1/4 of the people here clicking I love Blythe today....the only day you could ever love Blythe is if you sold right before a 5% EE take down (which aren't hard to predict)and bought the dip and made a shit load of fiat. That still doesn't make me love Blythe. I'd rather see silver go parabolic sooner rather than later?

    Why? The sooner it does, the quicker we reach the end of the Road to Roota. I just want this stupid paper game to end already. But so many thing the almighty dollar is king and are brainwashed to believe so, so they will never see until it is too late for them.

    The only upside is that we have more time to accumulate fiat to trade for physical. Still not enough of an upside for me to say "I Love Blythe Today"

    SGS, who's following this blog anyway? A decent amount of trolls/money changers that's for sure.

  22. Not to say you all are, there is still lots of good discussion here..just less of as of late

  23. I told you some while ago we should love Blythe.

    You made fun of me.

    Hate does not help, karma is a bitch... :)

  24. Been looking at Alaka's Pebble Project run by Northern Dynasty Minerals ticker NAK on the AMEX. I am not looking to buy this stock, just for research information.

    The Kennecot Copper Mine in Utah has produced 18 million tonnes of copper since 1904....the largest copper mine in the world. Its ore grade was about 1% in the beginning of the mine and is now currently 0.6%. It also has produced 23 million ounces of gold, 190 million ounces of silver and 850 million pounds of moly.

    From the recent 43-101 Alaska's Pebble Mine has an average ore grade of copper between 0.32%-0.34%, about half of the Kennecott Mine in Utah. In a 45 year reference study, the mine can produce the following:

    14 million tonnes of copper
    30 million ounces of gold
    140 million ounces of silver
    1.4 billion pounds of moly

    Reference info here:

    This is indeed a great deal of production from these metals. The thing to note is the COPPER ORE GRADE....which is about half of the Kennecott Copper mine. Falling ore grades and falling EROI's are going to be difficult going forward.

    If we look at the link below, you will notice the WORLD PEAK OIL GRAPH shows a drop from 80+ million barrels a day to 60 mbd by 2020, just when this PEBBLE MINE will be in full production. just 2 decades by 2040, the World Oil Production is only 15 mbd. How on earth are we going to be able to produce HUGE OPEN PIT MINES with 15 mbd oil??

    WORLD PEAK OIL GRAPH:,r:2,s:0&tx=94&ty=57

    Interesting how the world just seems to MISS THIS ONE. Who cares how much metal is in the ground, if you don't have the energy to get to it???

  25. Michael,

    The only thing positive I see here is that many of us were pushed to try to get a lot of silver and prepare ourselves for the collapse that hasnt come. This means that many of us are in much better position now and can not only continue to increase our stacks but also prepare out living station.

    Hell I was only able to get my ducks and duck coop, havent finished my garden, planted my fruit trees yet, havent gotten my rabbits, havent accumulated enough food yet. etc etc.

    Remember when the currency collapses, silver can only get you so far. You can't eat, you may not be able to trade it. Silver will be nice to gave when normalcy returns, but in the interim, you need to have more then just a nice stack of silver.

  26. looks like the daily 2pm raid is about to get started.

  27. STINK BID:

    Does anyone know what a STINK BID is?

    I like this actually for purchasing bullion:

    You Canadians should like this guy he's actually pretty cool:

    (I'm not advertising here and you all probably know this company anyway it's simply FYI stuff)

    I'm hot and cold concerning Blythe today. Maybe I'm in my change of life.

  28. shoot.. didn't clear $34 - think we're headed back down to $33 or so.

  29. zepster: Let that fiat value drop. I want to put in a lower STINK BID.

  30. Here comes some MAX PAIN for precious metals again.