"The Decade of EPIC Begins"
US dollar is getting crushed.Do margin hikes matter anymore? Silver is so strong.
Someone got caught flat footed at opening, but sure seems to be recovering in good fashion.
This kid is sharp:Margin requirements on silver useless http://www.youtube.com/watch?v=leOTNjL6Hkw
So, SGS, help me to understand: Everyone seems to say that you should pay off debt and be debt free when SHTF. It seems to me that I would be best served to pay my debt down the road in inflated dollars. Wouldn't now be the time to use whatever credit I have to accumulate silver, food, more bullets, etc. and then pay my debt during hyperinflation? What would the government and bankers do when 100 million Americans default on their debt? In my amateur opinion, the quickest way to bring about the demise of the bankers would be for every American to buy silver with their credit cards to the max limit. Talk about taking money from the banks! Use their fake slave money to put all the silver back in the hands of the people, and then send a collective fuck you to the bankers. "Fuck you fucktrons, and thanks for the silver. It is payback for all the taxpayer money you stole to give yourselves big christmas bonuses. We have taken our money back, and we will now use that money for trade. Since the corrupt govt's of the world are to big of a bunch of pussies to convict you, we the people say that you stand convicted of high crimes in the biggest monetary fraud in the history of the world. We have used your plastic slave cards to return the money that you ruthlessly stole to the people. What would they do? All of our troops are overseas spreading democracy and freedom. Stop paying your mortgage and buy silverMax your credit cards and buy silverStop paying student loans and buy silverAm I missing something here?
I have some SLV options. Based on possible margin increase and thin trading coming up, you think I should sell them today?
Silver is up like $6+ for the month of April shooting it's way past $45. By the end of April silver could be close to $50 and I am very greatful and excited :) but, does it ever spook anyone the speed with which silver is climbing? As Hamlet would say: "The world is out of joint".
@ Tom !This is my thought also, I am thinkin about investing 50000K however I am not sure about it. MrSilvergoldsilvers opinion would be VERY APPRECIATED!
bravo tom! wish that could happen. it's just a shame that 97% of the rest of the population hasn't got a clue or are like deer in headlights.they're in denile,don't believe, do not want to believe, or they're greedy fiat hungry moles who could care less about a free system. like the american rev it will be 3% of the people that lay the groundwork for change.that is if the fema camps don't get ya first. the feds just released a bid proposal for the printing of 140,000 copies of the fema instructions for citizen internment camp detention due by april,29,2011,to be delivered to chicago. these original federal docs can be viewed on you tube right now.
Well, look at that! Silver is higher than JPM! 44.70 vs 44.60...Tom, you have the point of using credit against the banksters, and that is a current strategy for me, and have already used it to a good amount. I do have every intention of paying back every dime as long as society continues to function and the dollar is where it is now, BUT, I want my supplies in place BEFORE SHTF. The day I stop paying off is when I no longer receive statements from the banks and my bill pay transactions start coming back with the message, "Error, bill pay recipient does not exist or is offline at this time, please try again at a later time."SE
Tom;You are bang on. We bought silver (actually miners) which have gone apeshite, as opposed to paying off small interest debt. SGS; Its been 51 and a half hours. Ou est le pick de stock??
@ 6a1dbcdc-3c89-11e0-b484-000bcdcb8a73I just opened a 21 mos 0% APR with about 7,300 credit. I basically pay the minimum which is 1% of the balance which counts towards principal.Can you suggest other credit avenues?I am balls to the walls on this idea, would love to hear suggestions.
44.98!Dang! Its very overbought though.. but still that doesnt seem to scare the momentum!
By the way, the silver chart that the Turd showed us last night confirms the feeling that I have in that what is happening with silver is an orderly revaluation of silver vs gold and the USD. Basically, it appears that the shorts have been told that "Silver must be allowed to find its market price, and you will have to find ways of covering your shorts and make up your losses." It appears that the shorts have been allowed to short at a high price and drop the price down just a dollar or two, enough to make a little money to gradually cover their shorts and losses. The charts show a stair-step pattern at regular intervals (so far). SEPart II follows
Part II...The action of silver continuing to climb several dollars per week with one or two mini corrections each from now on until it reaches hundreds of dollars an ounce is now a plausible possibility, though not a strong one, I think. This may indeed be it, the revaluation that is underway and may not have to do much with market forces at this point. I get the feeling that they are throwing in the corrections to make it appear natural, appear as though natural demand is driving this rather than the correction of the shorting situation.SE
I too, have been considering using my credit card (current apr of 6.8%) to purchase silver.But I'm not sure how to crunch the numbers to determine whether the effective apr will work against me.I could use some help...and a plan...
And I may add that they may try to do things to make gold/silver come way down this summer, as has been the case in general for 35 years or more. The observation of the natural fiat-based annual cycle of gold and silver as we go through the Indian and Chinese holidays and farming/harvesting seasons. The fact that the Chinese are now stepping up as gold buyers is starting to change things. Something tells me, "I'm going to have to accept the possibility that these seasonal behaviors may have or will be very soon coming to an end, and I'll have to be happy with the amount of silver I managed to accumulate in the early days."SE
Mark, it won't matter... The 7% APR will pale in comparison to the runup over the course of a year from the time you charge the silver to your account. Think long-term. Where will silver be at in 2 years? 5 years? You may be able to take a few ounces and not only pay off this charge, but maybe pay off other bills, even your mortgage.SE
Blyght just called. She is frantic. It seems her leg is caught in a bear trap planted by the SLA. I told her I could not come help becasue I am busy tanning. She is in the process of gnawing her leg off below the knee so that she can get back and short silver before it reaches the Hunt Brother's high. Shit my Goggles, gotta go.
Silver is now well past the stock price of JPM. I know it's more of a symbolic gesture than anything, but it's sooooo fun to see!Mwahahaha! -JPDG
You know, the funny thing is, take a look at these two charts:http://stockcharts.com/h-sc/ui?s=$SILVERhttp://stockcharts.com/h-sc/ui?s=$goldThe RSI (I know, I know, TA in a manipulated market) for gold has not reached extremely overbought status the entire time, and silver has been up there for quite some time now, and also, my RMA (Relative Moving Average) calculation is banging past the so-called limit of "when to sell out" (1.3), and has been for a long time. The first instance of that was in October, and there have been times when it would go back down below 1.3 for a while, but it's been at above 1.3 since early February. It's even hit 1.6 in the last three trading sessions. That's another indicator that the "orderly revaluation" may be happening.SE
@TomRemember the Roaring 20's? The Great Depression? People who bought stocks on margin got hammered... That's why every stock trading site will tell you, if you sign up for a margin account, that they can sell whatever they want, whenever they want, to cover your shit if they decide they want/need to. So, taking on debt (or margin) for the stock market is possibly a wipeout for you. The next issue, then, is credit cards. 0% intro APR for 12 months, whatever limit... then sure, buy as much as you can. You are assuming the prices will continue to rise to the heavens (and they very well may, I myself am in this camp). Then congrats, you win the little game... The game being, you took on a large amount of risk, and were properly rewarded for it, based on how you think events in the future will play out. That is exactly how unmanipulated capital markets are supposed to work. Proper reward for proper risk. However, on the other hand, let's theoretically say QE2 ends (for a little while, at least), hedge funds and mutual funds liquidate everything in sight, and silver takes a huge ram in the ass... Are you going to have the ballpower to stay in? Or are you going to BTFD? What if you already maxed everything out to the max, and therefore CAN'T buy the dip, because you are already leveraged to the maxy max? Which brings me to the final point... Debtor's prison. Sure, if everyone in America defaults on their debts, then maybe the prisons won't even be able to pack everyone in. So it really depends on what you are talking about. Home equity loan to the max to buy silver? Depends on if you are in a non-recourse state or not. Recourse states can garnish your wages. Perhaps consult a lawyer for your state? Anyway, my best advice, then, is to stay out of debt, and use assets under your control to purchase. Leveraging is exactly how the banks operate... from fractional reserve lending, to COMEX manipulation, all that. We are all waiting for it to blow up in their faces. However, when it does, they won't go to jail. If your leverage plays don't work out for you, however, you are a much smaller and easier fish to catch and land... in prison, serfitude, etc. Just some thoughts. As with everything investment related, it depends on your "risk tolerance", age, etc. If you are young like me, then fuck it, go for it - although I myself am not long on silver, gold, or TK via leverage, so that if they all go to 0, I don't owe more than I put in. If you are like, 65, and trying to secure a big win pre-retirement, perhaps your strats are a bit too risky. Long term, I'm assuming fiat money dies a horrible death, and the big reset means us phys junkies are reset into baller mode. Over/under is 5-20 years. In the next 5, though, anything can happen.
@Tom: I've had exactly the same thoughts... but no one here has a crystal ball that can tell you 100% for sure what the future holds. My advice would be to prepare for every possibility. I'd suggest paying down your debts _and_ putting whatever cash you can into PMs, land, a pantry full of foodstuffs, etc. I don't think I'd recommend maxing out the credit card to buy $20,000 worth of silver that may or may not rocket.
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I'm guessing JPM is covering their shorts... Thoughts?Massive volume and the G-forces feel fantastic!Just read the Sprott artical: http://www.zerohedge.com/article/eric-sprott-expect-gold-silver-ratio-hit-single-digits Holy shit he's got Balls!Also understand that $50 is the all time high And the Ceiling. Looks like a mad rush to cover before blasting thru the Ceiling. Blue Sky on the other side of that drywall and shingles! Single digits here we come!
@Blytes Mom, ha ha ha!
Here comes the manipulation. What a joke!
Would you like some coffee in your sugar Blythe?
getting spanked back...margin limits up?
Check out Turd's latest Blog entry, all expected and he details the all-important buy/sell levels on both metals. Note, only 4 trading days left on the London market, lots of holidays and a fucking royal wedding no less.
WTF is causing the spot price to go down all of a sudden i dont get it. and dont just say market manipulation
Buckanear!That article is exactly why I will not trade off my silver for gold, even though the gold/silver ratio is at normally-low ratios (considering the last 20 years). I have to remember that there is the possibility that we may go to single-digit numbers and then FLIP the ratio to fractions to fully price in market fundamentals of silver. This is why I won't let go of my silver. If silver is to go from 35-1 to 10-1 to 1-1 to .5-1, it has a VERY long ways to go! Remember The Turd's stair-step chart (look under white-out charts or something like that) from yesterday - it looks like an orderly revaluation of silver that may take months or years to come to fruition.SE
@Tom, I don't necessarily agree with maxing out credit cards to buy silver. But as long as you can handle debt now and slightly higher interest rates on your current debt I would take on more debt and pay it off in inflated dollars in the future. For me, I'm thinking about getting a mortgage, 5 year fixed rate of 3.65% (Canada) and then paying it off in the future in highly inflated currency.
Ohmµfg, i was only 9 hours late in my correction prediction, or is this a false alarm?
Nig,Market manipulation. Look at my comment in this thread posted at 10:54 AM today.SE
Knowing the silver bugs i bet theres a bunch that were bragging how they got to buy in at the 45s and were sooooo happy with the cheap price.HAHAHA
head.. us silver bugs are much smarter than that and you. We will be loading the truck at 42.00
Blyght is obviously free. She had a hard time trying to chew through her tibula but just when she thought silver would reach $46 today Capital H.I.M. showed up and finished the job with his razor sharps. They rubbed some fiat powder on the bloody stub above her ankle and then she was told that a new artificial leg would grow in overnight. She hopped on her broom and zoomed down to Crimex just in time to short before the close. She said she will get you SLA. Himey's gonna put her through the spanking machine tonight. Blyght hates it when her evenings start to resemble a certain scene that occurs near the end of Requiem For a Dream; Ass2Ass. BTFD, Over and Out.
The more people that actively oppose the banksters, the quicker this system will crumble, and the banksters destroyed. America will survive, we have survived worse crisis than this one.
"US to incorporate new terrorist warning system via Twitter\Facebook"Ok! So the end is near indeed.Soon they will blame a terrorist "exploding" a portable ½kt nuke at Manhattan or something like that to trigger a market sell off.The best warning system since 9\11 is still to keep watchin the alternating standard deviation over them nasty put options..Furthermore: Will the Asians let the silver be alone or bash the shit out of it tonight?
So, who thinks a margin hike is actually coming? Perhaps tomorrow?
I bet it already happened thats why we had the big selloff.
Hmm, I don't think so. Such a small move is more like a strong shorting, but not a margin hike.
MARGIN HIKE TO 35% HAPPENED THIS MORNING AT MONEX
Regarding margin:Instead of being allowed to post a 'margin' of dollars for a silver contract, traders should have to post 100% plus a premium, since traders are using depreciating paper to purchase silver contracts (which of course have little to do with silver anyway)Physical and miners! Speaking of which SGS...tap tap tap....
that means at monex you need $20,000 to leverage a 1,000 ounce bar. so 5 bars you now need a minmum $100,000 down.
Monex? Those bastards are thieves. Without naming names, there are at least three firms with better inventory and much more attractive pricing who don't charge you "brokerage commission" over and above the standard premium. I bought over $200K worth of gold from them years ago before I realized they were out of wack with the market.
MARGIN HIKE TO 35% HAPPENED THIS MORNING AT MONEX******Dang. If that's the case, margin hikes are totally irrelevant. It didn't move the price much at all!
Tom - 100% of my physical silver has been paid for with my Chase Freedom card at an average of probably 5% below spot. Only recently I bought a roll of Maples at 3% over spot at the time. I don't even have them in my hand yet and they're already worth more than I paid last week. Not booking profits; BTFD and hold en ride.I've made photocopies of all my statements and will be sending them to Jamie Dimon's jail cell...just in time for silver to take it's rightful place next to gold at 16:1.
Silver over bought? ha & double ha. Any around for panic buying of 79-80 by those who couldn't deliver the goods? Flush all your guru advise out the window. Days coming where we'll see daily 10-15 USD swings in silver up, down, and all around. Fiat dollars and real sound money silver will fiercely fight it out in the cage of a genuine monetary store of value; medium of money!! I already know the winner from history!! Dollars on fire and burning to ashes.
Money right now sitting in home equity is a loser.Interest rate at 4%, dollar dying, no point in having cash.I pulled out all my home equity, down to 5%, and still have a tiny locked in 5 year mortgage payment.Either way you are covered, if the housing market blows up, you walk away as you have no real stake in the house.If it goes up, you make a profit. And you are likely to make 100%-150% on the home equity invested in Silver/Gold.The ones who will get spanked most in this are over leveraged people, those who have all their money in their homes, and people about to retire.Debt correctly managed, isn't a bad thing. If you are using your money to make more, that is good. If its for TV's and cars you're fucked.
AFRUM: One day of that happening, and they will put daily limits (futures markets), so don't look for it to repeat. Remember, you have psychopaths "controlling" these exchanges.
If you think there are problems in world, look at the list of warnings from Homeland Sec on where not to travel.http://travel.state.gov/travel/cis_pa_tw/tw/tw_1764.htmlThe list would shorter on where it is safe to travel.
Ledbedder. Let the rabid greedy, foaming at the mouth dogs have all the paper fiat the rat bastards want. Let all AmeriCON'd awaken and vote for real change and take gold/silver out of the black hands of the megalomaniacs. We the people will have sound money and to hell with the bankster fraudsters in bed with the CONgress/SINate; whitehouse/blackhouse on the broad road to our nations monetary destruction!