365 votes

>Gold $1,255 Silver $16.80 Platinum $1,215 Palladium $770 Dollar 95.00

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Gold $5000 and Silver $200 an ounce...

Rob McEwen: Your readers need to appreciate: Gold is money. It is currency. I think the number of people familiar with gold will grow as people see gold as a currency. China, India, Russia are buying gold to diversify their foreign reserves. To restore the confidence in currencies, I think some central banks, such as the Chinese and possibly the Russian, will increase their gold holdings to the level that the percentage of their total currency will be greater than that of any other currency in the world. At that point, they will assert that their currency should become the reserve currency of the world.
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Inflation or Deflation....Metals win...
Why Deflation is good for Precious Metals:

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This thread was started 9/16/10 - here were the prices.

Submitted by SteveMT on Thu, 09/16/2010 - 11:51.

Metal Bid Ask
Gold $1,273.60
Silver $20.73
Platinum $1,602.50
Palladium $546.00

"Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves."
–Norm Franz, Money and Wealth in the New Millenium

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This is where I buy from: www.apmex.com:
A great read. Think and Stop Investing!
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you seem to be, finally, at a loss for words!

That's probably a good thing, IMHO.

in this thread I atleast give

in this thread I atleast give my humble opinion. I don't come here to be a nanny, self appointed daily paul policeman. You have not published one comment on the metals.
You are only here to antagonize and troll.



Pretty soon the industrial

Pretty soon the industrial users are going to panic. They will drop 500k at a blink of the eye to secure metal to keep their factories open.

2006 Nickel LME Default

2006 Nickel LME Default Compared to the Imminent COMEX Silver Default
Gideon writes:

The LME defaulted on nickel in 2006. The price shot up, then quickly collapsed by over 50% in months. About 2 years later, nickel price had fallen by over 75%, and the LME is still the exchange it always was.

If a default were to occur, wouldn't many cash settlements be arranged at a price agreeable to the buyers, and interest will be charged daily on the short contracts until those shorts can deliver. Those shorts who still need to deliver could simply buy shares of SLV, take delivery, and pay off their Comex contracts. The SLV is so massive, it is a new depository, of sorts.
Your thoughts?


Funny how some of these guys

Funny how some of these guys say they hope silver would go down (as low as $2) so they could buy more, but then, they sound so upset when someone else says silver could go down a lot.

government of the people, by the people, for the people



Well??? where is all that

Well??? where is all that silver going boys? According to you they will start paving the streets with silver since its going to 7.00 an ounce?

COMEX Registered Silver Supplies Down to 27.9 Million Ounces

COMEX registered silver supplies are now below 28 million ounces. The COMEX warehouse report for 6/13 revealed several large silver occurred yesterday 6/13.

Registered: Brink's saw a massive 773,018 ounces of silver withdrawn from registered supplies
Eligible: Brink's saw another massive 1,412,149 ounces withdrawn from eligible supplies.
In total, Brink's saw 2,185,167 ounces of silver withdrawn from their vaults on 6/13.
Scotia Mocotta
Eligible: Scotia Mocotta received 182,880 ounces into their eligible supplies.


sounds of cricketts churping... lol that was good one.

LOL.... Yea silver is going

LOL.... Yea silver is going to 7.00 by the end of 2012.. ROFL... http://harveyorgan.blogspot.com/

SteveMT's picture

When the debt ceiling is raised,....

move the decimal point one place to the right.

I dont understand that

I dont understand that logic.

The market already knows the ceiling will be raised...markets move before the news breaks.

I don't think they do.

I don't think they do.

I have asked the question a

I have asked the question a few times.. Why would the JPM and HSBC and other banks who have manipulated silver for over 30 years now want to get a vault in record time, and then fillit with 40 million ounces of physical silver and 150 million in paper silver?

Now look at the COT's.
Read this.

Are Commercial Traders Preparing for a Vault in Silver?
While seemingly everyone in the silver community is preparing for the world to end when QE2 finishes up on June 30th, commercial silver traders are signaling that they have a different outlook for the shiny metal.
As of Friday 6/10, commercial traders have built their long positions (futures & options) up to 52,553 contracts. This is roughly the same levels of longs the commercials held when silver reached its panic lows and bottomed near $8 in late 2008!
(Read the COT's at the link below)

Ted Butler has written very recently he is expecting a surprise jump in the price of silver up to between 60.00 to 75.00 an ounce. Seems the Big commercials are agreeing with Butler.

I bought 10 rounds yesterday

I bought 10 rounds yesterday for spot, 1 perfectly painted ASE for spot, and 1 ASE for $2 over spot.

For those of you who want to

For those of you who want to do your own research and read the work of a man who is probably the most accurate in his forcasts, here you go.


This was written a few months back. Armstrong said that June 13th/14th would be the turning point. Notice what he says about gold.

I've read and listened to Martin Armstrong for some years

now. I had a chance to meet him years ago at a Money Show convention in Las Vegas. He may have a sense of humor when it comes to social interaction, but not when it comes to economics. Don't know of anyone who has a better or more consistent record.

"An economy built on fiat money is a society on its way to ashes."

It is sickening what they did

It is sickening what they did to him though.

How f*cking backwards is it that someone like Martin could be an economic adviser to the president that would lead to greater happiness and prosperity when in fact they place people into positions to actually bankrupt this country?!

What the f*ck is wrong in the world I am living in?!

Please help me try to understand! I can't take it sometimes and when I can't take it I overeat.

I never see Greed, TX, or ron is for real

post on any other threads but this one. They are the definition of trolls and should lose their membership privledges immediately.

"A living Constitution is a dead one" -Ron Paul

I have

posted on other threads, but I don't see nearly as much sheeple-like thinking on other threads as I do on this one. I have a fair amount of experience in the markets and I feel like I can help some people here if only they will listen. If you don't want it, then go ahead and lose your butt.

ahhh the silver market has

ahhh the silver market has topped at 31 and going down to the low teens.. Who said that?

Ahh I bought shorts on silver at 37.00 Its going down...

Ahh I bought a protective call (as I realized I was going to lose my ass).

So now you are a professional trader? why didn't you call the top at 50? Why did you call 2 tops only to have the price of silver fly by both? Talk about a sheeple?
You don't go back and look at trend lines from 1999 do you?
You look at that trend line and you think that silver and gold are not in bull markets? A fair amount of experience.. thats laughable.

Arguing with you

is the main reason I have so many posts on this thread. I have to keep explaining the same things over and over to you and correcting your mischaracterizations.

For example, real traders don't say I "bought shorts" when opening a short position. I have attempted on several occassions to explain how foolish you sound when you say that, but I can't get through.

And speaking of trendlines, the weekly trendline which contained prices for the last decade (until this year) was the reason I was looking for a top (as I explained dozens of times, and you said charts don't matter). It took 3-4 months of prices bumping up against it before finally breaking through it (but I guess it was meaningless). Once they did, I acknowledged that prices could go significantly higher, and they did. Yes, we have been in a bull market, but every trend comes to an end. Anyone can look like a genius in a mania. The key is knowing when to get out.

You keep saying why didn't I call the top? Well WTF more do you want than my post the day after the top telling all of you that it was a "great freaking time to sell silver", and that the uptrend was "unsustainable", while you were "lmfao" in your response and calling for further rally to 90-100 before any correction?

Wow. Plussing your own comment.

Thats pathetic.

"A living Constitution is a dead one" -Ron Paul


I have never voted on any of my own comments, but you are right that is is pathetic for someone to plus their own comment. I SUSPECT that sierra does it, but of course I cannot prove it.

my take is that mining sector had a 2 day lag

behind actual physical itself last week in bottoming. many mining shares actually bottomed on wednesday last week whereas physical silver bottomed already a week prior, that's why a lot of the lagging margin calls on long made it appear as if the recovery in silver got derailed. yes margin calls on mining stocks get priced into silver. if it remains stable or up by thursday, then the recovery is real.

there is no deflation either in stocks or commodities.

mining shares will skyrocket from this point on. all the margin calls' just been cleared. again, thursday will be the day to watch. i should have taken the delayed fallout in mining stocks into account. i actually noticed that and saw how much mining stocks plunged last wednesday.. i had closet concerns about how it could create a tail swing of additional margin calls, but i just had no idea the residual margin calls would be so heavy on monday. one thing to note though, you're not sure how many were actual margin calls and how many were just shorts hopping on to gauge the margin calls yesterday. strength of the rebound will tell much. good lesson though.

it is by the similar logic i say why thursday is an important day to watch, since yesterday a new recently low was created, in order to watch out for additional residual margin calls. my gut says it will be a non-event, but i have a tendency of discovering worrisome details about the market and harboring these closet concerns just to unwisely underplay it to my own detriment, because of simple laziness in trading, so who knows. i would probably get fired if i traded professionally for some entity because i get so lazy and just ignore my own warning sometimes. but it's my own money so oh well.

posted ~10am est edit 10:24 est

I expect silver prices to run

I expect silver prices to run up from here to $39.35, possibly up to $40.50-$41.50. From there they should begin a hard decline into the $20's.

The current run up is a "third wave". As such it should show strength. It will "feel" similar to the rally that went from $40 up to $50. It will increase optimism in the bulls. The following decline will also be a third wave, and as such should be more violent than the $50-$32.50 decline.

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

sensible forecast for a bear scenario

but you're really arguing subtleties here.. silver staying above 42 or below 42 as you described above will make all the difference.. the issue is can you read it real-time as soon as the results are out, before the market turns against you, should it turn out not as expected. my scenario is for silver to eventually stay above 42.. it may even go from 41 to 39 temporarily.. the point is once it gets above 40, all bets are off. you're just laying out one of the many scenarios.. if you're a pro i believe you should add some caveat to that.

i never forecast anything one-week out, if you haven't noticed. the bottom i called last week was good for a week, so were the surges i called before. anything beyond that, even if you get it right, it's really nothing more than a fluke. one week forecast is enough to make you money and it's really much better than hitting at random numbers which quite frankly feels like pissing into the wind, no offense.

the only long term forecast i would give is: There will be no deflation. and as of now, i don't think silver will go below 30.

unless ron paul gets elected.



"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

enough edits, already!