In the Epistle of James, the Bible urges Christians to be patient, and "see how the farmer waits for the precious fruit of the earth,...until it receives the early and the late rains."
Stop your whining. The rains will come. But they didnt say it was coming when you want them to (unless you have HAARP)!
The way i look at it as the gold price goes higher the pressure only builds on silver to explode. this gives us more time to stack up the phyzz, but mind you the suspence is killing me. Off to the Perth Mint again.. Let's strap in and enjoy the ride. All the best boys and girls.
ReplyDeletelove the Biblical analogies :)
ReplyDeleteI live in seattle, I know about rains, worst two summers ever
I thought for sure silver would have been taken behind the woodshed just like everything else, but gold. No matter, I'm using this lull to buy more.
ReplyDeleteHere's what James Turk had to say over at KWN:
“Silver has been caught in some cross-currents. On the one hand, we are seeing a repeat of the pattern where silver falls when a financial crisis heats up. On the other hand, gold should be a magnet pulling silver higher, and to some extent we have seen that result today. As an example of how silver bucked the trend of today’s selling pressure, oil was down over $6 on the day, while silver finished up almost 2%.
Don’t get discouraged by silver not doing as well as gold the last couple of trading days, it is building a base for a breakout above $42. Once that occurs silver will in all likelihood shoot straight to $50.”
JPM at $34 and change.
ReplyDeleteSo if this is a repeat of 2008, that means we will get another chance to BTFD?
ReplyDeleteAll we have to do is hold our horses till then?
Interesting activity on the spot prices right around 9:00pm EST. It's as if someone sold a rather large amount of silver ($.50 drop in price) and used the proceeds to buy gold ($20 rise in price).
ReplyDeleteMaybe they listened to JPM and their prediction earlier today.
I'm willing to bet QE3 gets announced tomorrow, the markets will calm down, then recover back to the same old bullshit levels within a few months. The USD will get devalued, they will keep bombing arabs for Israel until they have there greater Israel.
ReplyDeleteBah, too fucking predictable this is becoming.
It can't be a repeat of 2008 because that was private debt this is soverign debt. There is no fall back currency only the ancient relics this time.
ReplyDeleteColin,
ReplyDeletefellow Seattleite! I know your pain!
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ReplyDeleteall commodities are remarkably similar in price to 3 years ago today, except for gold and silver. Chances are high this plays out with the same price action, but faster. like SGS says we are so lucky to have experienced this before or we would not know what to expect.
ReplyDeleteSGS,, I didn't know that you are a Religious Man ! God named four things Money.. Gold,, Silver,, Land and Cattle (Commodities)! Fiat wasn't one of them !
ReplyDeleteLadies and gentleman here we go!
ReplyDeleteRussia's envoy to NATO Dmitry Rogozin says the NATO is planning a military strike against the Islamic Republic to overthrow the Iranian government.
http://www.presstv.ir/detail/192596.html
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ReplyDeleteWell said Paulo. This is the big one, but again the only sad part is we all increase our wealth but cannot use it to have a better standard of living etc... without needing a BatSuit and BatCar to get around, or a BatCave to protect your family with! I am not in any rush to go back home to England either!
ReplyDeletePeoples salaries need to inflate as well ( if they can keep a job ), but they wont!
Wow, Gold is going Parabananas!
i just saw 1760!
ReplyDeleteCan anyone suggest a place for New Zealanders to buy PM's? They live near Auckland.
ReplyDeleteBrace yourself $1764 GOLD dead ahead.
ReplyDeleteThe News UNIT Blogspot
Shit man! Jim Sinclair's other angel is about to spill his bowl on this earth. The seventh seal is about to be opened (SEVEN! $1,SEVEN hundred, 60!
ReplyDeleteDavid Morgan is turning into Weather Unit on Steroids!
ReplyDeleteSilver may go down, but $5, I think everybody would have backed the truck up way before then!!!
http://www.thesilverchronicle.com/Archive%20Folder/August%202011/aug92011i.html
"Ground control to major tom.. ." Whoaaaa, this is like watching a shuttle launch.
ReplyDeleteListen to the samples in this song. It was made in the 1990's.
ReplyDelete"We've got these econonmic problems, but we are not falling apart at the seams. We are the United States!"
Such arrogance and hubris were on display today when Obama opened his mouth. He said the same thing almost word for word!
Circle of Dust (1994) - Brainchild / 07 - Descend
JIM SINCLAIR'S ANGEL JUST POURED HIS BOWL OF WRATH ON THIS EARTH! BEWARE! GOLD JUST HIT $1764!!
ReplyDeleteWhy am I happy and afraid at the same time? :{
ReplyDeleteAlright, I'm convinced. I'm going to go buy some physical tomorrow. Just silver? Or gold too?
ReplyDeleteIs SGS saying he believes silver is going UP on open, or GOLD up on the open?
ReplyDeleteWhat has historically happened to price of silver every time Bernank opens his yap?(really.ANYBODY?)
gold crossed 1750 and exploded 20 more up to 1770 last hour
ReplyDeleteI'm working outside all day tomorrow, but I can't miss watching this shit unfold on optionsxpress and bloomberg. 100 bill in munis just got blanket downgraded at 1130pm
ReplyDeleteGold hi : $1771.00!!!
ReplyDeleteSILVER just gotta spike tuesday???
SGS?
Thank you.
August 9, 2011 12:37 AM
...lurking...
ReplyDeletehttp://www.miningweekly.com/article/broken-system-means-silver-could-surpass-100oz-says-silver-wheaton-ceo-2011-08-08
ReplyDeletesilverjournal! FUCK OFF!
ReplyDelete@PaidInGold I apologize for the source. I was interested in the content of the interview with Morgan
ReplyDeleteFucking Funny
ReplyDeleteWorld Collapse Explained in 3 Minutes
http://www.youtube.com/watch?v=NOzR3UAyXao&feature=player_embedded
have to laugh, Sinclair's "angel" gets breached then plummets ... wind up william goldman's adage ... does anyone really buy his Gabriel blowing his horn BS?
ReplyDeleteYeah, a bit of waterfall action there with gold. I would say it lends credence to the notion. Didn't he also say that would be the point efforts would be made to beat it back. Wattaya know. 48 hours of lift off to the magic number, then slump.
ReplyDeleteOh I had to share this shit!
ReplyDeleteGet me a job at JPM!
http://www.cnbc.com/id/43527239/
@Malcolm: That was fuckin funny. This one came up next to that one:
ReplyDeletehttp://www.youtube.com/watch?v=l8rQNdBmPek&feature=related
Patience - I don't know. Basically the message is loud and clear.
ReplyDeleteFor a meltdown, as so many expect it will only be GOLD. Silver hasn't got a chance.
As mentioned on Turd - once the selling stops then silver will bolt (and I suspect miners too) - but that is the big point and the contradiction on all precious metals sites - you believe in disaster then gold is the only answer - if you believe in the middle of the road then Silver.
FOFOA is the only one who has it correct.
A "golden" opportunity to acquire physical silver is drawing near (pun intended).
ReplyDeleteI'll be dumping some fiat today.
Grateful silver hasn't exploded just yet. This dumb ol' cop is playing catch up. Need some more phyz. BTW local coin store here in the Panhandle area of FL, says he's seeing a stronger run on metals than when the silver run to $48.
ReplyDeleteGreece and S. Korea have now banned short selling, according to zerohedge article. If shorting is stopped here in the US, how will it effect the JP, HSBC and others doing the same in the silver market?
ReplyDeleteholy shit buying opportunity in silver
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ReplyDeleteA troy ounce of prevention is worth a million british pounds of cure later
ReplyDeletebanning short selling happened here in mid september 2008 just read the histories if you want to know what will happen here. Banning shorts is the worst thing you can do, I read a massive massive amount and all my experience reading market gurus and technicians across the board it makes things more unstable and takes liquidity away form the market cause there are no buyers covering their shorts.
ReplyDeleteevery person in the industry knows banning short selling is a deliberate aggravation of the situation, it is the same as trying to cough underwater, its the worst possible government intervention
ReplyDelete