Silver recent gains ARE NOT a sign of a bottom...
I'm buying. Not selling. Silver is going to take off way higher than I would have paid at $23/$24.
"Necessity is the plea for every infringement of human freedom. It is argument of tyrants. It is the creed of slaves." William Pitt in the House of Commons November 18, 1783
"I know major allies who fund them" Gen. Dempsey
Let me know if you are buying. I sell metals for peter schiff and I can get you some good prices.
All paper money eventually returns to its real intrinsic value, zero. - Voltaire
This is the problem. JPM has a corner on the gold market with 85,000 long gold contracts. JPM also owns the corner on the silver market with a 13,000 contract silver short position. In gold, they own 23% of the long contracts which is manipulation. In silver they own 16% of the short position in silver.
From Ted Butler yesterday.
As I indicated earlier and as of the cut-off, JPMorgan was net long 23% of the COMEX gold futures market (once spreads are removed). On that same basis, JPMorgan is short 16% of the COMEX silver futures market. This is down substantially the 40% net short position in COMEX silver that JPMorgan held a couple of years ago, but is still outrageously high and also qualifies as a short corner on the market. Whereas JPMorgan is likely decreasing its gold long corner on the market, it is increasing its silver short market corner. Our nation’s most important bank has two market corners going at the same time; all while the regulators pretend not to notice.
So did JPM fall on the sword to cap silver from running much higher last week with their 100 million profits on the gold calls they sold? I think so.
other commodities for massive profits, While screwing the American public. Even Coca cola is complaining about JPM cornering the Aluminum market, causing higher prices for soda. It only causes a penny per can increase, but when billions of cans of soda are sold annually its big profits. Also thank JPM when you want to do a little rewiring of your home, they are also hoarding copper. The real big one is oil the banks caused the $140 barrel price in 2009, and are trying the same now. We had to bail them out back then, will we do it again?
I ask all that look at a post like this, what has changed in our economy that could cause silver and gold to decrease? I would say nothing! This take down of silver and gold is nothing but fraud running rampant in the markets. Every where you look there are shortages in both metals. We are still in a bull market and this is just a dip, and smart stacker's buy on the dips.
Only a few are buying silver and gold now, but as both markets begin to pickup the masses will rush in at the end. Kind of like a fools gold rush. I wouldn't get caught waiting for silver to go lower it may never happen.
I look at silver as a savings account, and I don't have to worry about some bankster dipping into it. If your holding cash in a savings account your going to lose it. Cypress was only a test for what the public will put up with.
Gold standard: because man can not be trusted to control his greed
actually, JPM, according to the COT's has a huge short position on oil. See what JPM is doing is geting massive amounts of money from the fed to go into the markets to suppress the prices of all commodities to keep the people from seeing rising inflation. The true inflation rate is over 16%. Gold and silver are the canaries in the coal mine that alert the people that the FED/Government is up to no good. They can't have all these canaries singing.
As I said in my earlier post, the gold/silver ratio isn't much of a predictor of price movements. Not sure why people vote that comment down.
If you read the comments below the article I linked above, you can see all sorts of ideas about what the ratio should be, or what ratio indicates silver is cheap relative to gold. No one can say definitively.
It is possible for the price of silver in increase and the gold/silver ratio to increase or decrease.
We all want progress, but if you're on the wrong road, progress means doing an about-turn and walking back to the right road; in that case, the man who turns back soonest is the most progressive.
-C. S. Lewis
the dollar hasn't bottomed
“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul
I've been following metals for quite some time and I work in the precious metals industry. I'm pretty sure we have hit bottom for silver at least until 2014. We will see corrections along the way. It's a good idea to accumulate silver ounce by ounce over time as savings.
If you are trading, the story is different, and bottoms, tops, and technical analysis matter more.
they surely must be at the bottom of the silver barrel.
The British Government knew where this ship sank and the hired a salvage team to go after it.
For a good portion of history, prices of gold and silver and thus the price ratio were fixed by government edict. For the last 100 years or so, the price ratio has swung wildly.
I won't pretend to be able to predict future silver prices, but anyone who does needs to take a lot more into consideration than the gold/silver price ratio, such as the total present cost to mine an ounce of silver, predictions for future mining cost changes, how much supply is expected to be brought on-line or off-line, prediction of future industrial demand, how the value of the dollar itself may change, etc. It is really an impossible task, and anyone who can do so will be too busy profiting from trading the market to write a blog about silver prices.
There are some well informed people who estimate the total average cash cost to produce an ounce of silver to be around $20. That number by itself indicates to me that silver is not priced too high at present.
Somebody's taking to excavating 'round the ol' Comex ® Casino. Now mind you, hard work is best done by others, not me. This excavating caught my eye as it appears they are giving away free dirt. Reminds me of the 1870 Nevada silver rush saloon keepers sweeping & tapping floor boards collecting dust the miners brought in with bits of gold & silver dust.
Sweeping up gold & silver fortunes & bundles of cash w/o so much as a shovel.
Washoe [Northwest Nevada], From Dan De Quille: The Big Bonanza 1876.
Orion & Samuel Clemens arrive in Carson City Nevada, 1861
Fate, or luck, in the form of his older brother, Orion, stepped in and provided Clemens with just the opportunity he needed. Through connections with Lincoln's cabinet, Orion had secured the prestigious position of Secretary of the Nevada Territory, under Tammany Hall politico Governor Nye. Orion, a notoriously honest man and terrible businessman, was in need of Clemens’ funds, and Clemens needed to get away.
Sam and Orion journeyed 20 days by stagecoach and arrived in “the insignificant village of Carson” City, a journey detailed in Twain’s travelogue/fictional narrative Roughing It. Sam was unimpressed with the 1,500-person mining provincial capital but believed that he would strike it big within three months and head back home laden with Nevada silver.
From September 1861 to April 1862, Clemens heartily undertook the backbreaking and laborious life of a miner and nearly claimed his long-sought-after wealth in a rich mine dubbed “Pride of Utah.” [He & his mining partner, Higbie were told by claim jumpers deceptive tales telling Higbie & Clemens separately, the other done picked up & skedaddled.] He would later dedicate "Roughing It" to Higie. As historian Fred Kaplan details tells in, "The Singular Mark Twain," “[Mark Twain] took frequent opportunities to sharpen his poker skills, practice his penchant for swearing and cultivate a western swagger, including carrying a pistol, which he had no skill at using.” By April 1862, physical labor & swindle took its toll. Wealth from a vein of silver seemed forever lost to Clemens. He set out & walked to Carson City, Nevada in search of an easy job.
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑
If silver goes to $350.00 an ounce I will hold as I always have. If silver goes to $500.00 an ounce I will either trade a few thousand ounces for a neighborhood of homes,or a farm.If by that time we find our streets running with blood I'll be trading small amounts for ammo,bread and beans.
may rise no matter what http://www.dailypaul.com/296134/ron-paul-the-fed-has-lost-co...
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How about providing some useful information?
Take it or don't. That's the libertarian way. I'll wait for you to post something "useful."
There's nothing here. How about presenting some information in the body of your post or title the post "Author states Silver hasn't bottomed". Failing those fine points of net etiquette you deserve to be called out.
Plenty of good articles & interviews on king world news here's one
As long as JPM is hoarding bullion, it will keep demand high. Even if they flood the market with paper in the next few days, (which I think is a distinct possibility) the price will rebound much faster. It may not be the bottom yet, but any dip that occurs will not last long IMO
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