Monday, February 14, 2011

Silver Catches Bid, Test of $30.50 Immanent

Silver fiat spot price, which I no longer care about, is ticking up this morning, which is a rarity, considering Blythe's favorite time to short it is, let me look at my watch, oh, right now.
Breaking through and holding $30.50 this week will be a key psychological mindfuck for everyone in the metals. After Tyler's article over at www.Zerohedge.com on COMEX inventories has explained, as well as my most recent Bears video explained, is that the COMEX only has 100 million oz's (is what JP Morgue et all is telling us) but remember this; they have over 700 million oz's of obligations or IOU's so to speak. You beginning to see the problem if people take delivery? And you see the problem if they dont take delivery (spot price uptick(s))?

If you are big spot price hawk, look for the $30.50 price. Oh, and copper is making new highs everyday, looks like a complete cornering of that trade by the Master, good for you.

Out later will be "The SLV Anomalies" Part 1 article, stay tuned.

25 comments:

  1. Mr. SGS,

    Thanks for your continued updates. Looking forward to your next post.

    This is going to be an interesting week....glad I brought more physical on Friday.

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  2. I bought additional 300 oz today morning. It looks good, but I don't care about the fucking fiat-toilet paper-spot price created artificially by some JP Morgue suckers. I'm telling everyone here in my country to start buying silver and gold (ratio: 80% silver, 20% gold) and some of them just have started switching from fiat toilet paper into PM's:-) It's only a matter of time we will see an enormous short squeeze and then all stupid-mainstream-CNN-watchers will start buying PM's. SGS: great job, thanks a lot!!!

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  3. Dr. SGS,

    Any insight/comments re. "metals backed currency" possible timing e.g. weeks/months/years?

    If there is, won't the powers that be "peg" the value of Ag/Au to some set value?

    Regards,

    Former Sheep (now a Cow)

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  4. It will be an increasing 'debate' mid summer, and heat up in the Fall, as the 2012 elections fire up propaganda.
    The PTB will let the steam out of the kettle for us 'revolutionists,' if us big mouths have a shift of wealth and shut us up for a while, would it not be easier for them to execute their plan while us new wealthier sheep eat pig and drive our new hummers?

    You think Ron Paul is behind the Ron Paul campaign for 'liberty'? Make no mistake. This has been planned. Nothing just 'happens' by chance. They are letting steam out of the kettle, its getting to a boil now....

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  5. SGS,
    A question.
    If JPM chooses to cover their silver shorts in advance of March, how high could that push us?

    Unless Blythe is planning a severe beating for Wednesday, she has to be in the red on about all her contracts.
    Fun charts to watch today. I am optimistic.

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  6. SGS, You sound like you've been reading Bix Weir.

    http://www.roadtoroota.com/

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  7. Sorry for the off topic comment. wondering if you still plan to post the info on Obama as CIA plant that you mentioned in bears part iii....
    Will that info be coming anytime soon?

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  8. Blythe doesn't become hysterical that much on mondays (she rather loves sleeping almost naked on a table after a wild weekend), let's rather watch tuesday & wednesday.

    Anyway, "Go Silver!".

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  9. CIA info is now just implied....I'll save it for a later time, it should not come as a surprise, should it?

    "If JPM chooses to cover their silver shorts in advance of March, how high could that push us? "

    Answer: to the moon

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  10. not a surprise at all. who else could keep birth certificates, college and law school records suppressed..not to mention passports of family members and his own whereabouts during those college years.
    just was hoping you had some good stuff on it.

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  11. Oh I do. Have too many articles on the go. In time, I will show. Working on this SLV debacle right now.

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  12. To SGS:

    someone brought you up in Wynter_Benton's yahoo message boards today:

    http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_J/threadview?m=tm&bn=10073&tid=386628&mid=386640&tof=-1&rt=2&frt=2&off=1

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  13. SGS - Do you think buying any SLV option in the short term, say March or April, would be worth it? The leveraged fiat money proceeds could be used to buy more physical.

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  14. Gilliom, not sure: I bought SLV jan 2012 calls a very very long time ago at the $35 strike. There is no doubt in my mind it will get there. I will probably sell it at the $50, and hopefully cash out in time to get more physical.

    If I were to do it again....I would not have made this trade. The Acronym SLV disgusts me, I want nothing to do with the Morgue.

    Just finished a phone convo with a special someone, trying to figure out how to post an audio message now...hummmmm

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  15. Hey SGS,

    FIrst off I like the blog, although I do fine the toilet humor of the animations somewhat puerile, the topics raised have spurred some great research avenues for myself. So, I have a question for ya. It's obvious that the open interest for the march 1st delivery climbs every day and it looks like the Comex will have trouble covering if there's a huge call for physical delivery. I wanted to know what would happen if the comex went into default and found that this very same topic arose in December of 2008 with gold. (At that time gold was in backwardation so if it went into backwardation again in 2011 it would not be unprecedented) In that case the NYSE-liff ran out of 1kg bars and so it was written into the agreement that it was their discretion to provide WDRs (warehouse delivery receipts) where they would compensate the individual for a lack of physical with a 100 ounce bar for every 3 WDRs. So that worked out to a premium of 3.53 percent at the time. The article can be found here with some clarification by someone from the NYSE-liff in the comments.

    http://seekingalpha.com/article/128150-nyse-runs-out-of-gold-bars-what-happens-next

    So my question to you would be to your knowledge what is written into the comex for providing these receipts for silver. Are we looking at a similar premium or will it be much more?

    Thanks for the great blog and keep digging, looking forward to hear the latest.

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  16. dude help us out here- you seem to be in the know with all this shit -who is wynter benton, is her trading group real? now she's offering a riddle for a turd commenter to solve saying she telegraphed (or is telegraphing) the next move with the letters AIN. gay ass joke?

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  17. Looking into Benton. At first glance of that acronym, I'm assuming she is pointing towards NIA (national inflation association) but that is my first guess glance as my frustration today is mounting over here.

    I am having a fuck load of a time here trying to figure out how to take my iphone audio memo file and convert it to my blog. I'm about to punch the screen.

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  18. Just saw a long blog on Benton. Seems like they are repeating the same shit that I say.(which isnt bad) I will look into this more, interesting.

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  19. SGS

    Did you try to convert the audio file into a mp3 video, using Itunes.

    http://butyoureagirl.com/2010/02/27/itunes-convert-to-mp3-iphone-voice-memos-from-m4a/

    Maybe this helps. I know things can get very frustrating with converting files.

    Can you provide link to the long Benton blog?

    G.K.

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  20. Maybe one of the blog visitors can help out with SGS's converting struggle.
    Anybody here that can share this kind of info?

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  21. http://www.greenenergyinvestors.com/index.php?showtopic=14182&mode=threaded&pid=205661

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  22. As any poker player knows, the acronyms AIN would
    translate to "All-In Now". Show-em or fold-em time for the woman with the deadman's stare.

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  23. Zimmer: the comex law is clear...there must be bar receipts with bar numbers and weights attached.

    If they cannot deliver then the comex and the banks default.

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  24. So, the comex can't settle with cash ?

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