Well, it wasn't very long before this was going to happen. Near Zero contango, its seems everyday more and more 'rare' and unexplainable events are happening in the physical markets.
Zero Contango means that there is not ONE futures contract higher than the current spot price. Add the fact we are in backwardation is incredible. It simple english, this means Blythe is fucked, and there is HEAVY demand for IMMEDIATE delivery of physical silver.
I will touch more on this in part 4 of silver manipulation, as you have no fucking clue how fucked the COMEX is.
Blythe, take a look at the graph below and then look at yourself in the mirror and ask yourself, "Did you really think this could go on forever? Did you think you were above the natural physical market?" You cant print silver. Make sure Ben knows that.
Also from Bloomberg tonight, seems like they are hoping on the silver train, "The decade-long surge in gold attracted fund managers from John Paulson to George Soros and is now spurring central banks to add to their reserves for the first time in a generation. Once written off as demand for photographic film waned, silver found new uses in everything from solar panels to plasma screens, making it the precious metal most used in industry"
You can catch all the bullshit here,http://www.bloomberg.com/news/2011-02-07/investors-102-billion-precious-metals-wager-showing-bull-market-intact.html
okey... so does this means if we have any cash laying around, buy silver coins right NOW? Can't JPM short the paper silver to hammer down the price still?
ReplyDeletesorry for being a noob.
Remember, Silver will traded (manipulated) till the gig is up. Silver will go up and down. I'm watching spot action tonight very very closely, Blythe's actions on Tuesday morning 8:30 am EST crackdown will determine if I am buying more at this level...so far, so good. ;) Go back and read Saturday's report...not too sure how many more shorts she can put on...time is tickin...tick tock, tick tock, the pigs will be slaughtered soon
ReplyDeletei just bought $50,000 worth of SLV call options . . . lookin to 10-bag!
ReplyDeleteSGA.. thanks for everything. It is much appreciated.
ReplyDeleteFrank N Biens you should have bought PSLV and 100oz bars.
ReplyDeleteJPM have 59M ounces in total? and due March 2010 they have 43M outstanding? 16M Left?
ReplyDeleteI think the work you do is great, but I think you should advise people to buy a few weeks of canned food/water as well. Because if it all plays out like you say, things will get nasty for westerners very quick.
Okay, lets say I have a 1000 ounces of silver eagles and it finally reaches 500 dollars an ounce. What happens then? Will the price decrease over a short period of time by 100s of the FRNs? Will the fiat price spike and then go back down quickly? If so, would selling make sense? If so, I don't exactly see my local coin dealer buying half a million in eagles. How and where to sell?
ReplyDeleteThe way I see is it, it's not a stock tip, its a word of advice that Silvers being undervalued, and if its slightly undervalued, then you can make a profit, having bought it @ $25 and sold it @ $50.
ReplyDeleteIf the system crashes, you'll need it to survive the transition between FRN/Fiat and a new currency system.
Check out silverseeker for an example theory.
http://forums.silverseek.com/showthread.php?30574-Contact-2-Is-He-in-the-Know-Is-He-Telling-the-Whole-Truth
Stack the Au and the Ag, but don't forget the most precious of metals.. lead, preferably jacketed with copper.
ReplyDelete