"The Decade of EPIC Begins"
Quick question...Can someone please explain what is going to happen with the Comex this tuesday?I really don't understand. For dummies explanation please. thank you so much.
Some say there won`t be a QE3 soon as the elections are drawing near and they don`t want to piss off the people with more expensive groceries. What are your thoughts?
scott sucks said... "Can someone please explain what is going to happen with the Comex this tuesday?"What do you mean? Comex metals options and futures contracts expire on the 27th, and there for everyone with a contract will have to put up the remain amount of that contract if the want to stand for deliver, or roll to the next deliver month.Clear as mud?
I checked price of 1 maple leaf 9999 by asking my dealer friday evening. Around 30+ euro per coin. Thats still quite high and seems to be that PMs are not bowing to the COMEX rip-offs.
@MalcomI bought phyzz because of the Federal Reserve Scam but I have NO background in finance. I still don't understand. What I am trying to ask is... Will the contract expiration have an impact on the fiat price of silver?I want my family to buy more, but I need to explain these events/concepts as they always ask questions. And I really want to answer as the best to my ability. Thank you for your time Malcom!
this is what i think about the situation. i just start stacking silver too.. anyways..right now the spot price is $31.00..i've run to my local shop..they either have few oz..or none..it either they really sold out..or they just keep it becoz they don't want to sell for losses..so i went to check some big name site.. alot of item sold out..etc..higher premium ..etc...@ 31 spot..so..everyone said..it might go down to $22 next week..or the week after..or it gonna be $9 bux..well..it can be $ .01 cent..if u can find them..we stacking physical as long as it under $40 and i can get my stack to grow..i'm happy..not it when it down to $22..and i try to run around town..and find none...i don't know if any of the dealer will sell @ 22 or 24 if it get that low like they predicted. so i'm very happy that i can still grab some today $31...eventhough it pretty hard to get em from local..and i live in Los Angeles...so i encourage ppl to buy now !! don't wait !! while u can still get some ^^
In a word no. But the price will have a affect on the number of those standing for deliver or rolling or pitching their contracts. Why hold a contract the is worth less today than yesterday! The market is oversold, but I do not know what Monday will hold! Could be up, could be down :(. But one word of advise if you can afford to buy, then buy NOW!Glad to help! Go here for more info. http://harveyorgan.blogspot.com/p/required-reading.html
I'm glad I bought a large amount at $41 two weeks ago when Apmex was charging .99 over spot, man it would been nice to have waited. It just felt like it wasn't going to go down past $40 again. I'm glad I didn't go all in, I don't care about the paper loss, I only care that I could have had an extra 80 or so ounces to my stack. I'm sure if I bought today, it would go down another $10. I guess everybody should be cheering for me to do so :)
@Bobby - Considering that each of those ounces you have is actually worth $100+ per, you havent yet paid the actual price of silver in its pure metal form. The way the system is set up, is that they have tagged a paper price to it to make it appear worthless, when really, the opposite is true. Keep stacking regardless of "spot" price. One day, there will be a seperation of physical price and paper price.
@highrise408I agree with you, like I said I don't care about the temporary paper loss, it just would be nice to have those extra 80 ounces. One day the separation of physical price and paper price will happen and it feels like it could be just around the corner with what is going on.
I went to my local coin shop today, they were down to one little tray of .925 and .999 junk. Must have been no more than 12 rounds. There was one fractional that I had traded in a couple of weeks back as part of getting a bunch of 1ozt rounds. I asked if that's all they had. a-yup. I asked if this was unusual. a-yup. Also, the premium was bumped up 50%It looks like the real market has spoken.
Went by my local coin shop and picked up 40 ASE AND 4 rounds. They have limited the purchases of ASEs to 40 per person per day starting last week. Hotcakes.
More downside to come? Clive Maund was spot on this time.http://www.clivemaund.com/article.php?art_id=67
My dealer took this opportunity to restock. He is out of ASEs and all other Ag bullion. I locked in price on a 100 oz today. Will have to wait to fondle them. He's been helping me unwind a large Au bar and he almost couldn't find anyone willing to sell at the new price or anyone that actually had any left.
More craziness coming if this report is true:http://www.zerohedge.com/news/lehman-weekend-redux
Saturday evening amusement:WINGSUIT BASE JUMPING (off the silver chart)
What crazy 2 days! But I finally pulled the trigger for the first time after watching silver for over a year and playing the paper game for few months (mainly AGQ) and bought some silver coins from silvergoldbull.com. Just to always remember these historic days!!
An observation from last week.. the day of the FOMC announcement, before the announcement, I noticed that EURO was climbing steadily from 1.35 out of no news and the other currency was moving like it. It went all the way to almost 1.38. I was thinking to myself, what the heck, why is it climbing like that? Once the announcement was made, it dropped all the way back down to 1.35yish. It made me think that "someone" knew what was coming and did not want EURO to crash below 1.32, so "someone" boosted it up first before it crashed down. So essentially the USD will not strengthen as much.... This leads me to think about the recent gold and silver take down, maybe "someone" knows what is coming which may cause the price of gold and silver to skyrocket, so they decided to take down the price this week. So when the news hit, silver and gold will not make all time high, maybe at most back to old highs....What do you think?Maybe a COMEX problem is coming? or Greece default will be announced soon according to ZH?
@curiousmind, ...or maybe Mexico central bank will announce their new SILVER initiative...
Any SGS readers find any silver at their local dealer this weekend? Local Coin Shop Open Thread- Any Silver to Be Found?
@JohnHI've never heard of Clive Maund, I read the article you linked. Sounds very scary for silver if true. Is Clive on the ball most times or just grasping at straws? Is anyone else familiar with Clive?
curiousmind, I like the speculation. Greek Default, Actually QE3, Global QE? Jim Ricards has had one of the best track records of monetary policy, he twitted that there would be and ECB easing, then IMF easing and finally gold revaluation, no dates were given.
John H said..., Does Clive provided his track record?
bobbydice- yes, clive called a massive double top in silver at $18 back in 2010. Then he called a head and shoulders top in silver at $19.75. Then he called a "giant double top" in the HUI at 475. He's like a stopped date on your watch- right once a year. Let's see what silver looks like in another 12 months, as clive is calling a long term top in silver- moriarty style (only a few days after releasing a bullish outlook)Clive Maund's Previous Calls
Is Clive more of an Elliott wavest as opposed to TA?
The Doc I posted on your site, No silver in Wichita, Ks. I've heard of only one place so far and it was in Connecticut, but when the dollar falls, they will be eating each other there.. Stupid Fucks !
Breaking news items: The News UNITI know you all like gold and silver here but I think the time to focus on a new sector has begun. I suppose when GOLD hits $500 and SILVER $8 it will be a good buying opportunity. But until then it's way overbought!Reality just set in. And if it hasn't yet for you, it will.
Weather Unit, Your NOTHING but a TROLL ! It can't hit twenty five without wiping out all Bullion Banks! You are Such a TWIT! It's drying UP! Idiot,, Copper is even falling.. So if they cut Production in those mines, Where's the Silver going to come from ! Your such a Fucking Idiot! And at the same time, Top metal Silver is being Wiped OUT ! FUCK TARD!
Who's Going to Mine Silver at Eight Dollars an ounce! GEEEZZZZEEE.. Do you KNOW How Fucking Stupid you come OFF ! Silver mines shut down Years ago, because there was NO MONEY in IT! FUCK TARD ! By the Way I was Pounding the KEYS as I WROTE YOU, You FUCKING TWIT! Thanks for making me Swear! Now I have to go ask for ForGivness! Quit POSTING!
wow, bflowers1, He finally got your goat too, LOL! The man obviously enjoys masochism and ridicule. See the fault in his analysis is that it cost almost 18 dollars an oz to mine Ag and about 500 to 600 to mine Au. I think most mines will be confiscated and nationalized, upward price movement, and with a global recession, depression, base metals production will decrease as well as Ag production, leaving less for investment even though industrial uses will slow down, but this is after 150.00 Ag early next year!
When I think about Brain Power, I think of the Weather Units as Nothing,, My Definition of Nothing, is what Rocks Dream About ! Stupid Fuck!
Further more, you Stupid FUCK! Before going off the Gold Standard, 25% of ALL stocks were in PRECIOUS METALS ! Your such a Fucking TWIT! And your Twit mind says, it only cost five dollars to dig it out of the ground... Fuck Tard!
malcolm Ive been holding it in for awhile..lol I didn't even see you posted in on my Rants! lol He just go my blood boiling tonight, the Fucking Twit! I haven't worked for anyone else but myself for the last Twenty eight years, and I know what it takes to run a business.. He is such a Fucking Reject, and he is a Worthless eater.. Sad part is, he doesn't know it!
As the saying goes... Arguing with WU is like running in the Special Olympics, even if you win you're still retarded.
The Dumb ASS Claims to be a Christian.. God called Four Things Money.. Silver , Gold, Land and Cattle (Commodities)! Fiat wasn't one of them! Stupid FUCK! Worthless Eater, heading people off a CLIFF!
I know your pain!If anyone in interested Mike Maloney make some good points on why G&S have been manipulated. LOL the funny part this was from last year, its the same pattern, they hit G&S when big news is coming out so there is not a huge run up! So, my prognostication, Greece defaults, and global easing, along with Comex expiry, and JPM derivatives bomb! http://www.youtube.com/watch?v=-eIIS0itYiIhttp://www.youtube.com/watch?v=x-wT4Tl7vck
Apmex is selling through silver really fast this weekend. I use them to guesstimate how fast inventories are depleting on the internetz. I bought a roll i couldnt really afford because i can(ty mastercard) I expect a day when there will be a limit placed on purchasing precious metals with credit. Probably a more hugerer fee. Fuck credit rating, its a giant fucking scam. I have been trying to build my credit rating for three years now. I have done literally everything perfectly and my credit rating has gone down. Theyre actually penalizing me for not having a home mortgage to pay off. Note i said penalizing, not simply a lack of helping my credit. I am convinced unless you make minimum payments on credit cards, your rating goes unchanged.
malcolm confiscated and nationalized, I'm on your track! I wouldn't touch miners myself for that reason alone.. Watch your country be drained of wealth for FIAT ! lolololoolollolloll Play the game, and get out before the collapse of the dollar !
bflowers, I have a about 10k in miners shares, I'm down about 16%, so about 1600 bucks. As soon a I get back in positive range, I'll be exiting soon, I think we will be in 50+ Ag by Halloween!
5ea5017a-d9ce-11e0-b969-000bcdcb8a73 I understand your thoughts very well as a POOR Guy! I took out a Loan on my house to buy Silver Last year at 19.00 an ounce.. The Stupid Fucking Weather Unit wouldn't understand that ;) I also have some credit cards filled up with some as well..lolol And when I have some Extra cash, I buy some as well..lol I have nine kids to protect.. I have one more credit card..lololol
malcolm I hope you will hear Treat instead of Trick!
Malcolm I Do as Well! I like 99% of the people on this site.. And I always enjoy reading your thoughts..
bflowers1, The manipualtion follows patterns:Comex expirationJPM, short issues, defaultBad economic newsBernakster and Barry speeches
I will take a thousand SGS, Malcolm, Led, Highrise, and many others thoughts, trying to help others, before a So Called Christians thoughts not knowing the Bible calls Silver Money , and trying to convert them to FIAT (FAKE) Money! This is my Favorite Site.. Sorry to put you through my Rants tonight.. And you guys are Great!
malcolm I have seen the pattern as well.. The world is catching onto these Bastards ! Well at least 2% ! lol They couldn't handle 1% more! lol ;)
@bobbydiceI have only been following Clive of late so I do not a lot know his history. I have heard BrotherJohnF mention him. I bought a few hundy ounces at 39 not taking much notice of Clive, so was pretty surprised when the ass fell out. I'll be a happier buyer at 20 something.
A good read of what is really going on!Its all just a big chess match!The entire global system is at a critical juncture with sovereign bonds, currencies, stock markets and the fate of politicians all in play. The hidden purpose of QE and QE2 was always to cheapen the dollar by causing inflation in China and forcing its hand. Critics have said that QE did nothing to help with unemployment and consumption. But that was never the main purpose – the purpose was to weaken the dollar to help exports and get jobs that way, but it takes time. I removed QE3 from my set of expectations late in 2010 when it became clear that Fed rollovers were enough to keep the yield curve tame and, more importantly, China was finally starting to move on the currency. For now, QE3 is still off the table. But if the euro weakens and China re-pegs to the dollar as a result, that is the signal for more QE. It’s hard to know how this will play out, but at least we know what to look for. If you want to see QE3 ahead of the market, watch the euro.http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/18_Jim_Rickards_-_Gold_is_the_Only_Winner_in_this_Global_War.html
malcolm I'm a Big picture guy.. Think your on the right track! Little details,just fuck me up;)
@malcomBob Chapman`s saying Bernanke might give out some QE3 hints on Monday/Tuesday and silver could turn around at that point. Check from min 1.10. http://www.youtube.com/watch?feature=player_embedded&v=2YKTp6SZRmASweet irony; found this video on Weather Unit`s blog. ;)
I really believe that America will go into Default,, here Shortly... While a Civil war Rages, We will be attacked from the outside, Russia,China.. We won't see it coming.. They will have to go against Israel as well for their Involvement.. The world will see evidence of Israels involvement in 911.. They will want to take it out on the the people of Israel, instead of the Villains.. I've read this story in the Bible... It ALL Fits ! God will protect his People.. And the top fit at the moment for the antichrists is,,, Ta Da.. Prince Charles.. Not Obama..lol Look at his Crest and see what the Bible says.. This guy has to fulfill a lot of Prophesy.. He has to prove his linage to King David ! Done ! His other side is to Mohammad ! The Holy temple was Destroyed in 70 AD. Where everyone's Birth certificates were Destroyed ! Look at his own Crest ! Read the Bible..lol He Fills it! Like I said, I'm a Big Picture Guy..
"Ta Da.. Prince Charles.." Close..Its Prince William!China 2020!check you tube for the "Ring of Power"
What are all you clowns up so late on Saturday night for? You must be looking for WU. :-) You're all going to miss me on the new site. You'll get over it.
Im collection new porn and watching SLN :)
I am a newbie to PM, but have been reading your blog fro quite some time. A question for SGS, if the silver take down were indeed short selling (which I believe it is), won't they need to cover some of the massive shorts they initiated on Thurs and Friday before next Tuesday when it will be reported on the COT report? (please correct me if I am wrong) If they do cover some, the price of silver should go up, right? But the increase in margin before expiration is plain evil, whoever did not have enough money would probably be wiped out and forced to sell already. So when Asia opens, we should see them buying since they woke up to silver on sale!!! 2 days over $10 discount. Who can pass such a deal??
@curiousmind said.., Allow me, the COT report runs from Tuesday to Tuesday, as you know. The shorts dont have to cover, they will cover some at these low prices but not all. You are right that silver should go up, I would think that they have proved their point, in that they got longs to pitch their contracts and reset the derivative bubble. The thing is during May, all the specs were wiped out in silver, so I was really unexpected to get this low, I think ppl just held their bids, know what was going on, it all fucking insider info. I think that once cooler heads prevail we head right back up!
We are winning!The total silver comex OI fell by only 768 contracts as these holders seem to be in strong hands. The new OI is a multi year low. Strange that bullion dealers and mints are running out of metal and OI which is a measure of demand is at these extreme lows. The silver comex has been nothing but a physical market for those that wish metal. The leverage is totally gone and after Monday night it will surely be gone from the silver market. The new OI rests this weekend at 110,785 falling from Thursday's level of 111,553. The front delivery month of September saw its OI fall from 228 to 213 for a loss of 15 contracts. We had 19 deliveries on Thursday so we lost zero contracts to cash settlements.The front December month saw its OI fall slightly from 73,153 to 72,255. This is a minor fall in OI considering the massive wallop the price of silver endured on Thursday. The estimated volume at the silver comex was a monster, coming in at 104,984 with our banking cartel providing the short paper. The confirmed volume on Thursday was also high at 87,399.
@bobbydice and john h clive maund is grasping at straws, he's a good pumper dumper, and a great salesman, but he's wrong often. I've seen his updates a few times over the years
Also CM charges an arm and a leg for a subscription. 75.00 a month!!
I'm not surprised to hear that Clive doesn't have a great tracker recorded, I've never heard of him referenced and no one ever talks about him. So I guess I should back the truck up as brotherJohnf suggested and not wait for twenty-something silver. Man twenty-ish dollar silver would be sweet!Thanks to everyone who responded
Investors dumped silver and gold to raise cash and cover losses in other assets. http://online.wsj.com/article/BT-CO-20110923-709983.html
highrise408 I will do that, right away! lolmalcolm Yes ! we are Winning ! Those #'s look Very Bullish!
By Silver Shield, on September 25th, 2011This weekend is going to be very busy weekend as the criminal paper manipulators gave us another chance to sell every paper asset and useless consumer product we have to buy silver. As it turns out once again the CRIMEX raised the margins on silver 16%this coming Monday. This wreaks havoc on the emotional momentum monkeys playing in the paper casino. Their use of debt and leverage works against them time and time again. One day they will see that only buying physical silver with no debt is the ONLY way to invest in silver. Obviously someone got wind of this coming margin hike on Thursday and decided to short the silver market into oblivion taking it down 25% in 2 days. Enjoy the paper profits Blythe, this will only lead to more people exiting your rigged casino and buying more physical. This will, at some point, expose the massive fraud that is occurring everyday in the paper markets. Once exposed, all of those paper victories will be taken away as physical justice will be served.I am doing everything I can this weekend to get more more silver. Not only am I selling my prized Silver 4 door Wrangler Sahara on Ebay, I even took some stuff sitting in the basement to a consignment shop. I am even toying with the idea of breaking the credit cards out to buy more, but as much as I love silver, I hate debt even more. I also swapped some of the few remaining ounces of gold for “junk” silver. 53 ounces of silver for 1 ounce of gold is a steal, regardless what the dollar value is.I have made the case that the natural ratio out of the ground is about 10 ounces of silver for every 1 ounce of gold. And if we understand that gold has been treasured by all humanity throughout history as a precious metal, and that silver has been used and abused and an industrial metal, the 1:53 GSR will not last. Logic would dictate that the gold to silver ratio is going to smash the 1:10 natural ratio, and I believe that with all of the fraud in the system and the mathematically inevitable collapse of the world’s currencies and paper markets, we will see a 1:1 ratio in gold to silver.So let us hear what you are doing this weekend to buy more silver in the comment section below. Please spare us the specifics, operational security, but what is going on in your neck of the woods and to what extent are you going to us. Once Greece defaults and plays their role of Lehman Brothers to the sovereign debt crisis you will all remember the time you threw off your emotional reaction and logically kept stacking. If you have any doubts read the Ultimate Silver Investor.
Any suggestions for getting my family into Precious Metals(particularly silver and gold)? Both of my parents have 401k's and IRA's. I know the general idea of what's going on with the physical trade (manipulating the dollar price to make it look like a bad investment so the fiat charade can continue onward), but trying to explain that to my parents can be somewhat difficult. I'm only 22 and have been buying silver with portions of my paycheck (I've gotten 11 oz on a minimum wage job so far, not bad I guess). I hope they slam the price down to a dollar so I can go on a buying frenzy. Are there any resources that are good for folks my parent's age (50's) for them to look at getting into Precious Metals? I appreciate any advice given.
"Any suggestions for getting my family into Precious Metals(particularly silver and gold)?"Yup, Dont."Are there any resources that are good for folks my parent's age (50's) for them to look at getting into Precious Metals?"None.You trying to change a baby boomers mind is like putting your face into a blender.
Kinda cynical since these folks are my parents. I'm not one of these so called "sheeple" who just want to turn a quick buck when silver goes up in dollars.I hold because I want to protect myself when the dollar goes 6 feet under. If this is an attempt to have me sell off my silver, no thanks, I'm buying more if that's the case.
ThePiousPriest Keep educating yourself.. Wish I knew some of this when I was your age.. Gave you a few things to look at, and just keep going..Bone up on the U.C.C. ,, It explains a lot! Look some of this stuff over, and see if it gives you any ideas.http://video.google.com/videoplay?docid=-4179505350194809051&hl=fr#http://www.youtube.com/user/SGTbull07#g/uThe Secret of OZ.http://www.youtube.com/watch?v=7qIhDdST27ghttp://supremelaw.org/authors/freeman/freeman5.htm
THEPiousPriestI would agree with SGS for the most part but I got my father who is 60 to start stacking, it can be done. It is worth trying because your parents are going to be the ones with the buying power. You don't want to kick yourself that you didn't at least try and save what they saved because it will protect you one day.
malcolm I was partaking in adult beverage and writing last night ;) Thanks for the Correction.. William !
Had my father at 63 who was against Silver . Just bought ms 69 silver eagles 2011 . It's a start. He like that it has two values bullion and collectible value. Company has a buy back program as well
@WUweather Unit your such a stroke