359 votes

>Gold $1,200 Silver $16.40 Platinum $1,215 Palladium $795 Dollar 88.10

............♘ Daily Paul Metals Thread ♘ ............
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Madness of a Lost Society (in 4 parts)
The Day the Dollar died...
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.
Full Read....
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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From Mark Twain: It links to one page for Options Expiration & another page for Futures Expiration. It is easy to save or print out for reference all year long. It is a handy reference identifying when US contracts expire for 2014.
This is where I watch it happen: http://www.goldseek.com
This is where I buy from: www.apmex.com:
A great read. Think and Stop Investing!
This is an incredible site for watching metals:
This site monitors all ebay metals prices.Check it out:
Jim Sinclair - a Great read everyday: http://jsmineset.com
Hard Core Gold site. Great reads: http://321gold.com

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What do you think they are

What do you think they are doing by inflating the dollar and devaluing it. It is a gradual default on the loans. They are worth less the longer they hold the dollars. it is a process of globalization which will bring everyone under one world currency and one centralized bank that controls it all. Do you really think they expect to pay $14 trillion in debt? That is the joke, it was never meant to be paid. No president has ever brought us down to zero against since 1913 when the FED started pulling the strings.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

Inflation is a part of how

Inflation is a part of how this system works but the system no longer can sustain inflation in a normal way, thus, the Fed has been artificially trying to create inflation, but they know they cannot do it forever unless they are willing to forgive debt (besides the printing isn't effectively creating more credit), therefore, the printing press will stop sometime in the future, in my opinion. Besides, if they want to destroy the dollar (the dollar system) and create one world currency, my opinion is that deflation is far more effective in destroying the dollar system than inflation at this point because the dollar system is dead with deflation. Think about first by inflation then by deflation. Just my opinions.

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

Opinion is wrong, sorry.

Opinion is wrong, sorry. Inflation is not how the system works. Inflation is how you steal from some to give to others. Before the FED we had no inflation and the value of the dollar increased by 8%. After the FED the dollar decreased by atleast 92% in value. you completely ignored the concept of continual default as Ron has described. We are defaulting constantly and the people holding dollars are losing wealth by the continual devaluation.

Inflation is quite capable of destroying the dollar. Do you not know about the German Mark hyperinflation? It cost a few million to buy an ounce of gold before the Mark collapsed. People had wheelbarrels full of Marks to buy a loaf of bread.

Hyperinflation will destroy the confidence in the dollar and bring the system down. Deflation is the cure to the artifical booms. The market is trying to correct itself.

I'm still waiting for a historical reference to support your conclusion. This thread is filled with evidence support, not just random opinion.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

I'm not worried about

I'm not worried about hyper-inflation at all.

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

Good for you. I'm worried

Good for you. I'm worried about a dollar collapse because of the failed monetary policy. QE will never end.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

More memorializing. 'W' Painted the tape today. Send donation.

Silver & Gold drew 'W' (Bush tax cut, June 7, 2001)
Mournfully submitted by Mark Twain on Tue, 06/07/2011 -
in Economy forum & sympathy spirit.

This was seen as a symbolic gesture memorializing George W Bush tax cut checks, 10th anniversary. I could not attend the funeral. I sent flowers & a nice card for the services.

Please send your donation to: Ron Paul, 2012.

News details are barely tolerable, but the title was well written...

Silver & Gold drew 'W' (Bush tax cut, June 7, 2001). by Mark Twain, 06/07/2011

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

actually tomorrow may retest mid36 just for the unwilling covers

and cautious bulls, but i see no reason to indicate why mid 36's isn't the bottom. i don't know when shorts will cover. could be friday, could be early next week. i see most chess pieces already in place on the board, all that's left is waiting for a cowboy billionaire to lead the charge and wage a serious attack on shorts, really. they are not going to cover unless their margin starts to call. (refer to the bears below for a clue)



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

SteveMT's picture

For those gridding an axe on this thread, please calm down.

Speculating in paper silver, paper gold, etc. is not why this thread was started. It was begun to provide members with information about the precious metals markets and their considering the ownership of physical metals as a hedge against inflation. The rest is window dressing.

Takeaction will have a lot more to say about this, but I believe that arguing about paper metal options and who got burned the worst is not for the Daily Paul. Not here please. Bring information, yes, but not the accusations.


We must never question past-posted fantasy trades that were completely contrary to the outlook presented in every single post of the fantasy trader, and which were not announced until weeks after they supposedly took place and after a 35% decline.

It is inappropriate to warn people not to follow the pied piper of this thread who, even if he is able to anticipate a crash, he isn't going to bother warning any of the newbie investors who have been following him so that they might prepare.

And I guess information about how prices are 2, 3, 4, or even 5 times what they will cost in the not too distant future is similarly inappropriate information to present about the precious metals markets.

And when "considering the ownership of physical metals as a hedge against inflation", I guess the last thing anyone should be thinking about is the prospect of deflation.

Anyone who presents an outlook where metals are not going to the moon in a hyper-inflationary catastrophe or who expresses skepticism about ex-post facto, out of character trades is clearly grinding an axe.



You pulled me in and you are right. I started this thread as a hub for all of the NEW DP'ers to get a grip on "Physical" metals without searching the entire site for little blips of info. And a good place for the OLD DP'ers to talk about recent news in the PHYSICAL metal market. This thread is about the REAL DEAL. Not ETF's and not trading. This thread is about trading FRN's for real money. And it is about maintaining your wealth through what I feel is coming. An economic collapse.
Let's buy some SILVER!!!!

Takeaction... please send me

Takeaction... please send me your email.. I am going to shut ronisnotforreal up for the last time.. he wants to see a fantasy, I'll show him the fantasy and you can see the 150k profit I made on shorting silver after the 500k+ profit I made riding it up from 27.40 to 49.85. You can then see for your self and report to this numbskull who is right and who is wrong. That simple.

All that will prove...

...is how duplicitous you were in quietly selling your calls and buying puts while (loudly) making posts such as the following:

I just read Butlers update.
Submitted by SIERRAHPBT on Fri, 04/29/2011 - 01:08.
I just read Butlers update. He says there are no longs for the shorts to harvest. He says the COT structure has improved even more and is fully bullish.


I am expecting a 30% to 50%
Submitted by SIERRAHPBT on Wed, 04/27/2011 - 20:55.
I am expecting a 30% to 50% correction between 90 to 100.00. I think this is where this partabolic will go to. Yes higher prices will make people sell. Those that seel do not know the true silver story.
From that correction we head to the higher triple digits. It will all come down to supply-demand. As you see Apmex and others have no silver. Just wait till the silver Industrial users panic. Talk about
FUBAR... Then watch the hedge funds jump in. I think that most silver investors figure I will ride to 100.00 get out. they will lose their positions and sit on the sidelines watching silver go to prices that most could not comprehend.


sold?.. I just bought.. From
Submitted by SIERRAHPBT on Wed, 04/27/2011 - 15:41.
sold?.. I just bought.. From the Middle of May to the end of June this silver climb will be epic.

So go ahead and "prove" how you hung out to dry all the gullible bulls who listened to your foolish advice.

The fella is so oblivious it

The fella is so oblivious it hasn't even sunk in what he did. He deliberately misled everyone here with his klaxon calls to buy silver at any price while he snuck out the back door.

Well, let's face it, he took advantage of a bunch of "stupid suckers". Isn't that right, Sierra?

It seems a little strange

It seems a little strange that as long as this thread has been going on, there hasn't really been much opposition to those making calls on metals, so long as those calls were that metal was going HIGHER. Even calls for Silver going to $600 have been cheared. And if this thread is about wealth preservation, then recognizing potential tops is just as, if not more, important as recognizing bottoms. Often the fear of losing out on gains is a stronger fear than losing capital. This fear can often lead to losing all profits, and more. Knowing when to get out is more important than knowing when to get in. Someone who bought at $49 is not currently hedging ANY inflation, and is in fact experiencing direct deflation on an individual level. Fewer dollars with still high prices on consumer goods is not formula for hedging against inflation.

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

whether silver bottoms now as opposed to later

could determine whether oil moves along and hits 200 by the end of this year to drive ron paul's debate

i would say the implication of price discussions here is a lot more than just fun and speculation.

Time to crash JP Morgan

Here's the deal of the day, it's really this simple...

The faster you crash JP Morgan, the faster Silver shoots up like a dimple!

Lickity split, it's just like that.

There is no rocket science to this "trimming the phat"

Just remember not to do it, in the middle of the city....

What goes UP must come down, for the cause of liberty...


SteveMT's picture

8000+ hits BumP

There is a reason.

1. “Nature, to be commanded, must be obeyed” or “Wishing won’t make it so.”
2. “You can’t eat your cake and have it, too.”
3. “Man is an end in himself.”
4. “Give me liberty or give me death.”


daytraders beginning to exit..

you can tell how many shares have been unloaded on them by long term holders (real bulls) by how much price falls from this point to market close.. of course, the less the better.

SteveMT's picture

And the little guys are being forced out of the market.

SEC suspends trading of 17 penny stocks
SEC suspends trading in 17 penny stocks for 2 weeks as part of efforts to prevent fraud
Tuesday June 7, 2011, 2:02 pm

The 17 companies are "microcap," or penny stocks that trade over the counter rather than on a major exchange. The SEC said there were questions about the adequacy and accuracy of information the companies have publicly reported.


i don't know.. maybe they're just looking for random task to

justify their existence, like all government bureaucracies specialize in doing.

SteveMT's picture

Big news today: Platinum is up $19; palladium is up $22

Since the focus is on gold and silver and they are waxing and waning lately, look elsewhere for where the action is happening.

i like how the literate bulls don't have time to post here

so ya'all just listen to the illiterate bears instead.. some are even starting to say that they 'make some sense'

i've been daytrading the past 4 trading sessions since i was just waiting for the market to bottom with nothing else to do and i was making about (edit) 4k a day both long and short.. no way i have time to post here

be careful of those who have too much time on their hands

Export To Excel Export to Excel
Date Balance
5/31/2011 $0.00
6/1/2011 $54,037.24
6/2/2011 $57,959.22
6/3/2011 $62,225.40
6/6/2011 $64,255.36
To obtain all balances for the selected chart time period, click Export to Excel.

i opened this account specifically for daytrading just last week

since i feel it just bottomed, i'll pretty much just be all long and no daytrade unless i see contrary evidence. unlike the perma-bears who always have time on their hands, 99% trolling and talking, 0% homework, of course.

Are these options are just

Are these options or just simply buying and shorting?

This has always been my

This has always been my dream.

not to sound conceited or anything

(edit) i admire long term investors much more, like peter schiff who saw it coming years ago. granted sometimes his market timing isn't always the best.

Yeah Austrian economic timing

Yeah Austrian economic timing is not exact because human action is not a mathimatical science, but he is damn good at his future predictions.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

wanted to preserve my call time as close to 11:30 est or 8:30

pacific time (typo before pct instead of est) so i'm making another post.. price at 11:30 est on June 07/2011, Tuesday is approximately 36.60

nice call.

nice call.