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>Gold $1,200 Silver $16.05 Platinum $1,200 Palladium $800 Dollar 89.35

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How Governments will confiscate your GOLD!!!
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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.
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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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A great read. Think and Stop Investing!
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I would sell a portion of my silver at $1000.00 an ounce to buy

a nice piece of property with a river that runs through it, and build an awesome home, but I would not sell all of it.

I would, but I honestly wouldn't

Sell an ounce of silver for a penny less than $500.00.
when I started stacking my original target was 3000 ounces. I made that years ago.

My target sell (exit) price was $1,000.

I now have more than enough to sell the original 3000 ounces for $500,and the rest will go at 1000.00 per troy.

I agree and for the guy who just went short below...

better buy to cover because this train is not stopping.


I'm shorting silver for the first time since 2009. Since we are still rising, I'm starting small and will scale in. If we see $37, great, I will add. And if we see $38 I'll add some more. If we start dropping from here I will also add. If we push thru $40 I will probably lose my nerve, bail out of all positions, and lick my wounds, but even if we are going to the moon with bullish sentiment well over 90% (doubtful),I think we gotta at least drop back to low 30's pretty soon to kiss that weekly trendline goodbye. I kind of think we may just fall right through it, but if it looks like we are bouncing off of it I will take profits and stand aside.

Okay, I know by posting this I am inviting ridicule upon myself by the metric ton from all the frenzied bulls here, but before everyone begins piling on, please note the following:

1) While I have been cautioning the bulls to lighten up on their longs and/or at least hedge their physical since mid-november when prices were at @ $28, I never recommended anyone short silver (except perhaps as a hedge) and I refrained from shorting myself until tonight. So don't tell me how much I lost by being short the last 6 months, or even the last year and a half. I haven't lost a dime. I have missed out on some upside by not being long, but did not lose any money shorting in that time. Okay?

2) While I have mentioned on a number of occassions the weekly trendline resistance which had contained prices for the last decade or so, and while I have also indicated that if prices broke through it, then came back down to re-test it as support, then bounced and resumed its rise, I would likely conclude I had been wrong in my bearish outlook, we have not yet accomplished all of that. We have broken through the resistance and stayed above it for a couple of weeks or so, but we still have to successfully test it from above and resume an upward trajectory for me to believe that something has really changed. I expect we will start back down soon to test that trendline, which should now act as support if the moonshot is for real. If it holds I will exit my shorts and assess things there. Even then it's hard to imagine I will go long with bullsih sentiment so entrenched, but I will likely be forced to at least suspend my bearishness.

Remember the adage: bulls make money...bears make money...pigs get slaughtered.

Ron_ check this

fireant's picture


Shouldn't we see a spike in volume if sentiment is excessive? With oil on the run and world events as they are, then the way silver came off it's low, this is a powerful uptrend. It's got more to go. You're either nuts or brilliant...we'll see.

Undo what Wilson did

its all in the COT's Ron.. I

its all in the COT's Ron.. I have been trying to tell you. BUT I would not be surprised to see a pull back at 37 or 38 down to 31. then straight back up.
I am thinking about a few short options at 37.

if wheaton or any of those

if wheaton or any of those silver stocks turn to hedging I would get out quick. evidnetly they did not learn from barrack or ashante.

I guarantee he isn't

I guarantee he isn't shorting. I think he is just messing with us. I can't believe that he loves Ron Paul and doesn't love gold and silver.

Haha! I kid. But seriously dude any drop in price will be temporary and fast so good luck to you. I for one am leveraged long and have physical long along with wheat, rice, beans, sugar, water and powdered milk.

He is playing the market, unfortunately...

the market is manipulated, and if you want to play with paper money/stocks nowadays you will get burned. Physical gold, and silver is the only way. I hope he wins, and I hope things work out for him anyway.

You can still be a Ron Paul fan

and disagree with many of his positions. I don't know of anyone who ALWAYS agrees with another person ALL of the time. It's not healthy or smart to follow any one person blindly.

what is your basis of logic

what is your basis of logic that leads you to believe well retrace from here? is it technical analysis only? not that that is neglegible altogether but have you been keeping up at all with the COTs? is there a downtrend coming in the.commodities sector at large? is the middle east iced over? is oil to retrace back to 90? i cant really see silver and metals in general making a short term trend reverse that wont be bought into until we get to 40. 35 got blown through like a breeze... how do you feel about billionaires like eric sprott say silver going to 100 an oz and putting their money on their assumptions?


You talk all this jibberish mumbo jumbo Cot Sprott....Silver will go to $3 next week. This is a spike.

Stay down wont you!

Stay down wont you!

SteveMT's picture

Oil has continued northward: Oil $105.18 +0.76 +0.73%

California has Highest Gas Prices in the Nation
The Golden State beats out Alaska and Hawaii for dubious honor
Updated 7:36 AM PST, Sat, Mar 5, 2011


we fortunate people of America will soon see $5.00-$8.00 dollars

a gallon of gas. Folks in Europe have been used to that for quite a few years, and other nations have had to pay this for their gas. Our government needs to allow American oil companies to drill for oil, and refine it here in the states. The United States has tons of oil in Alaska, and California just to name a few states, but the bureaucrats in D.C. and around the country have denied any of our natural resources to be used by the American people. Hmmm...I wonder why, is the middle east running dry, and now this is the time to use our resources? Just imagine how many jobs would be created if we have oil drilling, and refineries operating in our very own county. Just imagine, we bring all our soldiers back home, we put them on our borders, and stop fighting these stupid wars, we could be self-sufficient, and grow food for all our citizens, and we could even take care of our borders, and not have to feed or take care of others from other nations. Oh my God, how awesome would that be.....Maybe I am dreaming, but honestly, that would be so good for our nation. We need to butt out of what is going on in these other nations, and start paying attention, and taking care of our country first.


7:20 pm eastern



ah damnit - silver touching

ah damnit - silver touching 36$ in over night trading. hoping for that mid week pullback! lol.

I feel your pain.

I feel your pain.

I bought most of mine at under $9 (less than 2 1/2 years ago!), and some at $17.20. Rather than patting myself on the back, I am lamenting not having put every zinc penny I could scrape up into silver back when. Of course the perma-bulls say I should be buying at these prices. Maybe. But my wall o' worry has me pondering insurance-puts.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Pretty much the same boat here....

If only I woulda'

SteveMT's picture

Britain's largest bank HSBC threatening to return to Hong Kong

When the money leaves, what happens? Mint your own real money is the answer.

HSBC reveals plans to quit London for Hong Kong
HSBC has told its biggest shareholders that it is preparing to quit London in a shock move that the bank has revealed to key investors is now "more likely than not".
By Louise Armitstead 9:00PM GMT 05 Mar 2011


Question: Is there a chance

that confiscation of silver or gold could happen again? Specifically, if a bank is holding the physical, might it be taken at some point? I know that personal holding is safer, but is paying withdrawal penalties worth it right now? Thank you for any replies, in advance.

The reason FDR confiscated our gold

was because we were on the gold standard. Gold was money and the government wanted it.

That is not the case now. We are not on the gold standard so the chance of confiscation is ZERO.

“The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion.” --Albert Camus

fireant's picture

And if they re-peg to gold?

ZERO is a little out there.
At some point there will be a monetary re-set likely tied to metals and other commodities. Government will have the incentive then to confiscate, or buy it at a price they determine.

Undo what Wilson did

The chances of the government pegging the currency to gold

is ZERO. Politicians get elected on promising goodies and favors. This is only possible on a fiat monetary system.

“The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion.” --Albert Camus

Either way

It was basicly volentary,and only about 10% of all gold held by citizens was actually turned in...It will be much MUCH less this time "if" it ever happens.

i think the US will first

i think the US will first have to actually ADMIT that theyre 2 miles underwater on their finances before they start force-grabbing physical. I think youll see pensions and retirement plans confiscated FIRST. Money Market accounts would probably be tapped beforehand also, considering the massive amount of liquidity that could immediately provide.

SteveMT's picture

Here is an answer that works for me.

Can the bank confiscate precious metals in a safety deposit box?
I'm told many times to not put any precious metals in a safety deposit box because the bank could take it. How can that be if the bankers don't even know what's in the box?. That doesn't make any sense.
Can anyone explain to be what is bank day? Is it when some crisis happens and banks will close.

Answer: ....


previously during confiscation times

to open a safety deposit box in a bank, you were unable to do so without the presence of an IRS agent to accompany you. otherwise the banks wouldnt allow you access to your SDB. Also read the fine print of opening a safety deposit box. They should have relatively similar terms. ive never looked at them myself, but someone had commented on this site before that you are basically handing over your property to the bank.

if its not in hand then bury it in sand! hehe (ok that rhyme sucked).