23 votes

Gold and Silver Slammed!

Gold at 1378

Silver at 23.48

Price updated on 4/15/2013

http://www.kitco.com/

I hope this trend changes quickly.




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I never beat you at anything

I never beat you at anything lol..

Funny you say that. Mayor

Funny you say that. Mayor Mike is winning on the downside now when you are 100% betting the other way. F the fed http://youtu.be/QeRv4IHoP70

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

and I hope Michael is making

and I hope Michael is making a mint. I am not in this right now. Once I see the COT's and JPM has covered then I'm in going up.
When silver ran from 18 to 50 the Commercial banks had so many contracts long and so many short. They are now getting out or covering their shorts. At some time this thing rebounds up big.

I hope TX and Ron_is_for_real are making big bucks too. I just hope they know when to go long.

Yes, good luck to us all!

Yes, good luck to us all!

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

What is disgusting is that the fed pre releases its meeting

Miinutes to "trade groups" like jp morgan amd goldman sachs
You think they wouldnt try to manipulate the gold and silver price?

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Cyril's picture

Also, you may remember, or just in case you missed it:

Also, you may remember, or just in case you missed it:

If Silver (Supply) Goes Down All Hell Will Break Loose In The Physical Market

(first video link in post)

http://www.dailypaul.com/263594/if-silver-goes-down-all-hell...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Indeed.

Indeed.

"You think they wouldnt try to manipulate the gold and silver price?"

They would be complete morons, imbeciles, idiots to NOT do that, AS WELL, while they're at it. That wouldn't make any sense not to.

If one has to live from rigging and plunder, they'll obviously go for the whole shebang version.

No questions about it.

http://www.dailypaul.com/275696/bank-fraud-in-ten-minutes

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Its a dangerous game

If they smash gold and silver thismtimemthe unintended comsequemce may be people dont get scared out of their positions but pour in to take advantage of the low price and further deplete supplies
If that happens the fed just might lose control
The silver martket isso small - about 30 billion a vigilalante entity could buy boat loads of silver and take delivery

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The latest from “DHS Insider”

http://investmentwatchblog.com/dhs-insider-watch-the-metals-...

The last update from DHS insider said things would be begin to break down around the spring time frame. The next economic shock was coming. He didn’t know exactly when but a source told him the metals would be taken down in advance of that event. Are we getting close?

DH: How soon do you see things taking place?

RB: They already are in motion. If you’re looking for a date I can’t tell you. Remember, the objectives are the same, but plans, well, they adapt. They exploit. Watch how this fiscal cliff thing plays out. This is the run-up to the next big economic event.

I can’t give you a date. I can tell you to watch things this spring. Start with the inauguration and go from there. Watch the metals, when they dip. It will be a good indication that things are about to happen. I got that little tidbit from my friend at [REDACTED].

"Give a man a gun, and he could rob a bank. Give a man a bank, and he could rob the world."

They all laughed at Christopher Columbus when he said

the world was round, but oh, oh, oh, who's got the last laugh now!
Thinking about silver and gold popped the ol' Gershwin tune into my little cranium. But it does seem appropo if you're saving s/g for the long haul, and that's what it really is all about -- the long haul, a safe-guard, a hedge. I personally recall when a quarter (two bits) would buy you a gallon of gas, and today that same quarter - minted in the 50's or anytime before '65 - would still get you a gallon of gas.
So fret not because you'll never lose with silver or gold. Having said that, I would prefer saving Silver over Gold simply because Silver is popular industrially and we tend to throw most of it away, while Gold is hoarded and used in jewelry, smelted and reused, but hardly thrown away. Also, there is more gold above ground today than 50 years ago, while the amount of Silver above ground has dwindled to almost Zilch, which leads me to believe in 20 years Silver will be worth more than Gold unless we can replace its many uses with something else.
But the anxiety that runs is so American - the Instant Gratification Syndrome. I was there too, but with age, I'm resting assured that ten years from now a Silver Quarter will still buy a gallon of gas; and 5,000 years of Silver & Gold as money is good enough for me.
God Bless America and the U.S.Constitution!

Cyril's picture

Exactly.

Exactly.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Once upon a time in the mid 1980s there was a teenager in France

Once upon a time, in the mid 1980s, there was a teenager in France... that would be me.

I remember my mom and dad struggling to sustain their kids after my dad lost his job, and four years after the socialists became in charge (1981).

In 1984/1985, gold was around $300 an ounce, that would convert to roughly 1,800 french francs in use back then (the USD would change to circa 6 francs):

And what would 1,800 francs buy your french, working, lower middle class people like we were at the time? Ah... sad memories of my parents selling the small bits of the gold they had just to feed us for a week, at some point. The french minimum wage would amount to circa 3,600 francs/months, when working full time... being careful enough, you could still rent a little something and feed yourself and two kids back then with 3,600 francs or $600, for a month... that is, with 2 ounces of gold.

Spot price down or up?

Doesn't matter to me.

Here's what matters, here's what real money means: PURCHASING POWER.

NOTHING else.

What can YOU buy with $600, TODAY, in America?

And what do TWO ounces of gold buy YOU now as well?

Asking is answering.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

The Wiemar widow whose husband had a tub of coins.

and the Weimar depositor whose million Mark deposit was less than the smallest denomination.

I wish I had a washtub of silver and copper coins.

When Nixon closed the gold window inflation in France skyrocketed. Wow! It's been a roller coaster ever since.

We have the Fed to massage our data and help us have a happy outlook.

Free includes debt-free!

Cyril's picture

Indeed.

Indeed. Well, as long as we keep our memory working, we're safe for and with our families.

Pity the people who don't even try or bother. They're out of luck. Sort of.

Peace.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Listening is useful.

I met an Engineer who told of moving paper notes in wheelbarrows. Money was depreciating so fast workers were paid at lunch and again at night. Lunch money wouldn't buy much at dinnertime.

I think he took his dinner pay, suitcase and bought a ticket Stateside.

Then there is the born and bred Nazi and marched off to the Eastern Front. He returned weighing 97 pounds. He rejected the Nazis and the lies they told him and came to the States.

It was around 40 years ago they were telling me their stories.

Free includes debt-free!

How can this be?

How can demand increase, supplies shrink, AND prices fall? Can only happen in an empire that lies! lol

Maybe the cronies that think they took over the US are feeling reality knocking, so cut loose with yet another assault on precious metal prices. Manipulate the markets, send financial pundits to sway the masses, sell off massive short shares....whatever you have to do to keep the metals down and the inherently worthless dollars up!

All an illusion. These guys should just give it up before things get ugly and go start careers as entertainers, they are obviously talented illusionists. I mean hey, the nation as a whole swallowed Sandy Hook, 911, etc....hook line and sinker. Even opponents to the attack on gun rights talk about Sandy Hook as if it were an actual occurrence and not something planned and construed. Lets hear some mainstream talk about how the government intentionally deceives. Gulf of Tonkin anyone?

One day when

Silver re-monetizes after the FED succeeds in debasing the dollar completely, I'm going to laugh at how cheap I bought up some real money.

LOL bit coin lost over 50% of its value

i will stick to silver thank you.

Not defending bitcoin although I do

recognize its positives as an alternative to FRN's but so did Silver. $49 to $26 is pretty significant. People who bought silver at $49 were duped just like people that bought Bitcoin at $260 were duped. The difference is I think that now and within the next couple of months will be the time to buy silver. Where I really don't have an opinion on Bitcoin. I guess have em for fun. I will still accept them as payment for any business I run.

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    fair enough...

    not trying to be cynical but what happens with those bitcoins worth over 200$ you accepted?

    Sorry wrong reply

    I thought this was about the trade i made for 1 kilo of 14k scrap gold for 320 Bitcoins.

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  • Accepts Bitcoin
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    I ended up well on that trade

    I missed this gold slaughter today and I sold the gold at premium and accepted the Bitcoins at a discount. You have to cover all your bases.

  • New Jersey's Premier Junk Removal Junk Service!
  • Accepts Bitcoin
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    good deal.

    .

    One strategy is to let it "wash out" and then buy. What I mean

    ...is don't buy until it turns around. Because it might just keep falling.

    We can never predict a bottom, but we CAN see that the day it rises is a day it fell no more.

    Then, I believe, is the best time to buy.

    This works for stocks too.

    "We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
    -Ron Paul

    Goldman cuts price forecast through 2014. Predicting your loss.

    Bring on the clowns. Gold loses safe haven tag; Goldman cuts price forecast through 2014. Bloomberg Apr 11, 2013.

    SINGAPORE: The turn in the gold price cycle is accelerating after a 12-year rally as recovery in the US economy gains momentum, according to Goldman Sachs Group, which reduced forecasts for the metal through 2014.

    [Goldman has yet to change their "fictitious name" to something more believable. Something going up? Like smoke?]

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

    "You Can't Cheat an Honest Man" - W.C. Fields / Mae West


    http://youtu.be/ZKTPXxUDyho 1 minute. Even w/ a dummy, the show must go on. W.C. Fields / Mae West not shown in this 1 minute film clip.

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

    is'nt buying gold and silver

    is'nt buying gold and silver historically a waiting mans game, will gold go so low, as to disapear from the financial world completly, is that a possibility

    you know the saying, "what goes up, must come down"
    well, id argue, barring extreme exceptions, when it comes to the value of precious metals, i should think, "what goes down, must come up".....i mean, lets face it, i dont see it going left or right

    As i said, a waiting mans game, may not pay off, but just incase it did......i'd say hold onto your gold, if your able, and see it through, you started it, i'd say give it your best shot and go for the possible finish line, if your current and future circumstances permits it, sensibly, wish you guys luck however you play it

    The problem lies in the people

    that have been buying at around 1600 to 1800 range for the past two years meanwhile were being told by many in certain communities that it was a great time to buy. I have always been careful recommending to people what they should do with their money. Some here are a little to eager to "help". What happens when some people bought gold at 1800 or 1700 for "protection" 2 years ago thinking that it might do better than the stock market or their bank accounts and now are loosing their shirts. I know a couple in this situation that wants to buy a house but if they cash out their gold now they are loosing 10k of the 90k they had saved. Not to say that they aren't sitting pretty not many people can save that kind of cash but it still sucks to take that loss.

  • New Jersey's Premier Junk Removal Junk Service!
  • Accepts Bitcoin
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    That was almost me

    That was almost me.

    points well recieved

    points well recieved