Monday, May 9, 2011

$40 this week? Or tomorrow?

Lets see what the fraudulent fuckfaces have in store for us today.


  1. They will teach our Asian friends a lesson for opening their own ETF. How dare anyone trade real metal when the ultimate fascist paper scam resides here!!!!!!!!!!!!!!!

  2. ETF? I thought they were opening their own COMEX?

  3. Hi All,
    Am I on the right track?
    If I wanted to control the spot price of a finite physical PM.
    I can’t buy a large position in the metal without pushing up the price, so I would have to introduce a paper PM in with the mix of physical. If I wanted to control the spot price of the PM (now a combination of physical and paper) I would want to gain a large exposure to both the short and long side of the trade, offsetting each other so the equilibrium point is not affected. I now have a large enough position within the PM market, on both sides of spot, and now I can rock (or whipsaw) the spot price up and down as I please and flush out weak hands.
    As long as physical metal is still present in the system the unbacked paper PM exposure should not be discovered.
    Why would I want to do this?
    Well if it was in my interest to give the impression that fiat currency was strong I wouldn’t want a historical alternative currency to show strength. And at the same time I could slowly remove physical metal out of the combined metal and paper system ready for when the fiat game is up and the PM paradigm is once again ready to emerge.
    Any comments appreciated.

  4. They are going to do their own price discovery. I have met tough businessmen, but the Chinese are tough especially when they have a high hand. They are all about win win not fair win lose. Money first scruples later.

    Accumulate silver today.

  5. Did you all see how COMEX is asking Congress for more money so it can better regulate the commodities markets? Their 'silver investigation' goes on and on.
    Be sure to email CFTC Commisioners
    Michael Dunn
    Jill Sommers
    Scott OMalia and
    Gary Gensler and let them know what a great job you think they're doing to protect investors from manipulation.

  6. Here's a sample letter if you need help getting started.

    So how goes the CFTC's battle to protect silver investors from 'manipulation'? First waiting on some more $$ from Congress? Or just continue to let the CME regulate themselves? hahaha.

    Q: How many CFTC Commisioners does it take to screw in a lightbulb?
    A: 4. 1 to define 'lightbulb', 1 to see if it will screw itself in, 1 to ask the Commisioner if we are allowed to rule in favor of plaintiffs now (ala Judge Painter) and therefore actually need light in the office, and 1 to go hat in hand to Congress begging for more $$ to purchase a better lightbulb.

  7. Euro about to get crushed AGAIN $US rally, NO idea where PM's will go now as SP downgrades Greece to B, FUCK.

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  9. @SGS: Just sent you a mail through Youtube regarding advertising. Would be great to hear from you.

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  11. SGS - im no expert here, but id assume that any euro trouble news could be bringing in more spurts of buying like we saw on London fix this morning. If the Euro gets crushed though, it becomes a little harder to say (And i do expect it to get crushed).

    This bounce upward in silver is expected. i am going to be very wary of calling it stable if it rises too fast back to the 40$ level or higher. Anything over 40$ within this week and i might have to be buying more puts at that level for insurance.

    But as of friday morning, ive been long silver again anticipating this (likely sharp) bounce upwards.

    lets not all become too complacent again!

  12. "SGS - im no expert here, but id assume that any euro trouble news could be bringing in more spurts of buying like we saw on London fix this morning"

    I'm getting ants in my pants about this $US rally here. Needs to die.

  13. Great part about the USDX rally, is that its based on the US$ rallying. They can jump back and forth between the $ and the Euro depending on whose got the worst news that week, but end of the day, its all PMs. Course for our derivatives, its kind of important when that day is!

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  15. Gresham's Law & backwardation - good article:

  16. Hate to say it, but I think we might be looking at $75.50 - 76.50 on the $US in the next few days. I hope I'm wrong!

  17. Stop worrying about short term and how much more you could have made by timing etc...

    Just go long, buy physical and wait 2 years.

    We all know where this is headed.

    My biggest worry is if/when the government starts shutting down dealers calling them domestic terrorists so its all illegal/black market to sell your PM's when the time comes to buy a nice house/car in the Carribean and retire!

  18. Who's worrying? I'm making fiat either way in the short-term and buying phyzz for the long haul.


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  20. The fraudulent fuckfaces are pissed off at me and Blyght's Mom. The "Madam I'm Adam" pickup line worked all too well. It was so easy. The video Blyght's Mom recorded was somehow leaked on the Internet. They're really pissed off about that and are going to hammer the price of silver down, but I don't care since I BTFD. She enjoyed every minute of it! Now I know what her "OH face" looks like. You know what I mean...Oh, Oh, Oh, Yeah...Oooooh!

  21. Wow dollar and silver going up in unison. Very interesting. Wait till the dollar gets beaten up by the yuan!

  22. My guess...
    $40 by Wednesday, below $34 by next Monday. Chop sideways for a while after that.

    Long-term, I am bullish and see new highs in the next couple of months, but probably not till after the crash in June(-ish).

  23. SGS - what we really need is a USD rally with a rising precious metal price. That would be the best of both worlds. My precious metals continue to appreciate faster than my usd even though my usd are appreciate compared to other paper garbage around the world. If only we could have our cake and eat it too!

  24. This is a little interesting,
    I am sure they would like people to think that Silver is on a downward scale, I wonder how many folks realize that their own silver pre 66 dime is worth a hell of a lot more than 10 cents.
    For shit's sake's an ounce of gold in 1907 was $300.00, thats 500% of real USA Dollar inflation,
    Man, what a joke.... Watching that buck this morning is a little more than sickening.
    I wonder who else they can prop up to kill this week.... ha ha ha...
    I wonder what they put in the vault after all of the ice melt.

    Any way here is something from this morning,
    Mongering?? umm...

  25. I see this morning that the US is now starting to pump home grown Cotton, both of growth, and textile production. There throwing in the towel on the Asians, and the Arabs.... the stage was set, and the play is certainly on...

  26. Are we looking at the POSX the right way? What is it other than a measure against a basket of other currencies? Why does a stronger POSX have to mean bad news for PMs? It is not measured against PMs as far as establishing the index.

    I understand historically strong dollar means weaker pms but as we are entering (or continuing along) this historic and unique time in human history, the past goes out the window. Is it possible that all that is happening is fiat is moving out of one currency and into another? Those buying into pms are not abandoning pms and rushing into the dollar. THERE IS NO REASON TO!

    If you are a Euro holder and you want out, of course you will go to the dollar if you are staying in fiat. I think for a time what can happen is dollar "gets stronger" as Euro fails. What can't, for a time, pms and dollar both go up as Euro fails? However, eventually dollar will also fall to the pms.

  27. The USDX will go up faster than silver, but then fall quicker also. It's due for a breakout, just look at the long term. There's a bear rally about every 6 months. Regardless of the situation or how we all want it to die or what the Fed says, it's still the reserve currency.

    I personally hope it goes up to 76-78 sending silver down to $30 or below. We want silver to behave like gold long term trend wise. These 3% gains per day are not good.

    I'm long physical, but I'm not all in on it. Gotta have cash. If you go all in, prepare to get burned cause it's a zero sum game for BM and the fraudsters.

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  29. Good day all...

    A few words from Miles Franklin's news letter this morning... :)

    From David's Desk

    I am putting the finishing touches on today's daily and now, at 5:50 A.M. gold is $1507.80, UP $12.40, silver is $37.46, UP $1.84 and the dollar is DOWN 0.34.

    Ridiculous, isn't it! You see, nothing has changed. The bull market is still intact. This was just another blatant in-your-face move, over the last four days, orchestrated by the JPMorgan-led Cartel. They handed silver its second largest "smack-down" ever, aided and abetted by the gutless bunch over at the CFTC, who allowed the rigging of the market to continue with five consecutive margin increases, forcing out all of the "weak" under-financed funds. Let them have their short-lived victory.

    I say THANK YOU! On Friday I moved nearly all of my cash back into the market and purchased physical gold, silver and even a few mining shares (all rare earth).

    It's not often that we are handed a bargain like this. I, for one, have made a great deal of money on this phony-baloney pullback. If you haven't taken advantage of the low, low prices yet, perhaps you should consider it on Monday.

    Here is what Bob Chapman had to say about the take down in the silver pits:

    Our guess on JPM and HSBC for the last ten days was right. This wasn't about covering; it was about showing the public how powerful JPM is and how they can get away with anything they want.

    Over at our favorite hang out, the LeMetropole Café, Mark Lundeen wrote:

    There can be no doubt that someone with influence over the Federal regulators objects to silver trading at $50. It makes the dollar look bad. The last time they whacked $50 silver, silver investors endured a 23-year bear market, with the price of silver glued for 10 long years to its BEV -90% line in the chart above. In other words, silver saw $50 for about 15 minutes in January 1980, and then its price was confined in a trading range between $3 and $4 for a decade. No doubt J.P. Morgan, and yes, even the Federal Government, would like to see a repeat of that performance - but will they? They don't have a snowball's chance in hell to drive the price of silver down to single digits this time. They'd be lucky to ever see silver trade below $30 again.

  30. Silver Futures volume is WAY WAY down...

    I've been daytrading AGQ/ZSL and watching Silver Futures for weeks and the trading is now very choppy and low-low-volume.

    If this keeps up, I wonder if we'll go anywhere.... We could be stuck in this range for weeks.

  31. ....Also, Silver and Crude are tied at the hip -- often tick-by-tick in lockstep.... So watch Crude.

  32. anyone read armstrong's piece on silver?

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  34. SGS,

    I'm aware of your policy of not pumping stocks here: I wasn't. I was hoping for some expert insight as to why that particular leveraged silver etf was(and still is) going completely bananas today.

    No pumping, I was just hoping for comments on it's bizarre behaviour.

    Sorry for the misunderstanding.

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