We are in the midst of a global shortage of available physical silver with increasing demand worldwide for this monetary, investment safe haven, and strategic industrial metal.
That's sarcasm right? They can throw napkins on the melting ice cube.... no matter how many napkins... there is no more ice, liquid nor solid. The price will get established at the margins...
Thanks David, we saw an incredible smash down today in the wee hours of silver in both the Comex and spot markets As I write this comment at 11 EDT, it reads minus 7.65% on the Comex as reported by CNBC. This is obviously a desperation move on the part of the bullion banks. Could you explain both how they did something of this magnitude and the repercussions of it?
I don't think that they are "lying." I think that they shorted the futures market in silver with an incredible amount of currency/contracts. Maybe since they realize that they are headed for bankruptcy anyway, doubling the hole they are in doesn't make a difference. The general approach of neocons over the last years has always been to double down on their losing policies.
Interesting question. I buy my USA silver from Miles-Franklin. They always advertise their rates for bullion as X over spot. Since the spot price is currently also down over 7%, I am curious what MF will do and will check a little later in the day.
I see SD bullion selling both metals at yesterday's Spot price, So that is not so bad I guess. I must confess that this is not of great financial importance to me. Gold and silver will never make me either rich or poor. The prices are merely a barometer for the state of the World??
Lost a new car (value wise) last Friday in the PM markets and a F-150 pickup truck today, but the stack hasn’t lost a F’n single Troy ounce of metals this year. Holding tightly
Dark days for silver investors.... maybe for weak longs and stubborn shorts. For those of us here, long and strong physical, future looks bright and shiny. Trust your instincts, let the fundamentals guide you during the psy-op. Things are bad. Very bad. Western monetary systems never more precarious despite the facade and patchwork bail out schemes etc.
Yes, the psyop is well underway and there is a consistent tone in all MSM. Yet the sell-off was ALL based on derivatives and won't produce any actual physical metal, except at the margin as some weak hands panic and sell. I'd suggest that this was orchestrated by the usual suspects to buy some time for LBMA. It won't really because the shortage of physical metal globally is still in place. It might slow demand temporarily but even that is questionable. And still the only way to resolve that is for higher prices to re-balance supply and demand
But I did warn in an earlier post that this would happen, even though it will result in higher demand quite quickly, because this is what they do and to their way of thinking it's worked for decades.
Heraeus Kulzer. the dental side has access to extracted precious teeth that wer highly used from 1970s till about that 2011 pop in Gold prices when alternative zirconia became its replacement. The sad fact is Zirconia materials require more tooth demolition and that leds to root canals and failes way sooner than gold and its other precious metal alloys such as Silver and palladium. Nothing replaces Gold in history. Rev. 21:21 has streets of gold like glass. https://www.reddit.com/r/interestingasfuck/comments/40jan8/a_5_mm_diameter_gold_nugget_below_can_be_hammered/ I cant wait to see - Psalms 12:6 . Pure as Silver rtefined 7 times. Anyone, Can you give me a .9999999 ---A 7 niner? Amen- Maybe next time a talk on those Funeral homes and subtraction instead of Extraction.
I think London is working hard to ease the pressure. They can't alienate the big investors; they all come from the same clan. But they can terminate contracts, agree to preferential delivery terms, and whatever else they can think of. Who knows what reserves the clans have? How much precious metal have they themselves hoarded and accumulated over decades and centuries? They can certainly spare a "few tons" to keep the game going. After all, they got everything at bargain prices. They don't care about fiat either and exchange it for land.
I think every dip is a good opportunity to buy more – that's my personal opinion. After all, you can still get silver at much lower prices. Furthermore, many coins from inheritances are being sold off in private circles to exchange them for fiat coins.
Yes, the City of London is a sovereign country. But they can do whatever they want with it. Do you think Magna Carta applies there? I don't think you assume Magna Carta applies in the City of London.
In any case, the consistent solution requires the official dissolution of this state.
This takes us to the next level of artificial international law. OK, I don't call it law anymore.
They are just rules like in a board game that are accepted by a sufficient number of states - what do you call it sooooooooo beautiful? - Rule Based Order, lol.
Zerohedge today: Silver’s Melt-Up Meets Gravity - The Party’s Over
That's sarcasm right? They can throw napkins on the melting ice cube.... no matter how many napkins... there is no more ice, liquid nor solid. The price will get established at the margins...
Lol, the 'experts' will be trying to talk markets down but as always
- 'He who pays the piper, calls the tune.'
Whoa...? Now it seems to have switched back??
(Original post)
.......The Margin cost for Gold just doubled?...... Hold physical instead!
Thanks David, we saw an incredible smash down today in the wee hours of silver in both the Comex and spot markets As I write this comment at 11 EDT, it reads minus 7.65% on the Comex as reported by CNBC. This is obviously a desperation move on the part of the bullion banks. Could you explain both how they did something of this magnitude and the repercussions of it?
Heehee......"The price' is what WE say it is!"????
It all comes down to why people hold precious metals in the first place???
Oh, and remember who "Prints" the numbers on your screen................?
Western governments cannot afford $100 silver or $10,000 gold. They would all be bankrupt!
Those nice people wouldn't lie to us...Would they?
I don't think that they are "lying." I think that they shorted the futures market in silver with an incredible amount of currency/contracts. Maybe since they realize that they are headed for bankruptcy anyway, doubling the hole they are in doesn't make a difference. The general approach of neocons over the last years has always been to double down on their losing policies.
Sorry. But, "They" do lie. "Spoofing" is a well known and admitted tactic, if they don't resort to more blatant tactics.
Paper and electronic markets make lying easy.
What is the Dubai price this morning or Shanghai?
Will Kitco sell 100 ounces 8% cheaper than yesterday???
Interesting question. I buy my USA silver from Miles-Franklin. They always advertise their rates for bullion as X over spot. Since the spot price is currently also down over 7%, I am curious what MF will do and will check a little later in the day.
I see SD bullion selling both metals at yesterday's Spot price, So that is not so bad I guess. I must confess that this is not of great financial importance to me. Gold and silver will never make me either rich or poor. The prices are merely a barometer for the state of the World??
Disagree. As the debt fiat currency system collapses we will see the greatest wealth transfer in history. Created by your government.
There has been no "Short reconciliation"! The $2million charge taken by TD Bank, couldn't even buy donuts for their trading staff....
Biggest smackdown to date and we have seen many over the years, but this was next level.
New York COMEX has already traded 120,000 futures contracts today. That's 600M oz. of silver.
Already more trading volume than most full days.
Insane David!! Desperate people will do desperate things. Money is there god!!
Can do until physical silver disappears.
Increasingly now.
Can’t wait to see these pieces of shit flying out of their palatial 52nd Floor offices! Hey Bob, where did you hide the glass cutters?
No, they always "jump" from the 33rd floor.
True
Lost a new car (value wise) last Friday in the PM markets and a F-150 pickup truck today, but the stack hasn’t lost a F’n single Troy ounce of metals this year. Holding tightly
Nice way to put it 👍
Dark days for silver investors.... maybe for weak longs and stubborn shorts. For those of us here, long and strong physical, future looks bright and shiny. Trust your instincts, let the fundamentals guide you during the psy-op. Things are bad. Very bad. Western monetary systems never more precarious despite the facade and patchwork bail out schemes etc.
BTFD.
Buy the fucking Dip!
There is none available
Sdbullion has silver. I bought some junk at spot.
Yes, the psyop is well underway and there is a consistent tone in all MSM. Yet the sell-off was ALL based on derivatives and won't produce any actual physical metal, except at the margin as some weak hands panic and sell. I'd suggest that this was orchestrated by the usual suspects to buy some time for LBMA. It won't really because the shortage of physical metal globally is still in place. It might slow demand temporarily but even that is questionable. And still the only way to resolve that is for higher prices to re-balance supply and demand
But I did warn in an earlier post that this would happen, even though it will result in higher demand quite quickly, because this is what they do and to their way of thinking it's worked for decades.
I have a Roth with physical Gold and Silver. I am thinking about taking possession of these coins rather than leave them with the institution.
Thoughts?
If you don't HOLD it, you don't OWN it.
Get that cash out and buy REAL metal.
Good luck getting delivery. If you can, get your hands on it.
Heraeus Kulzer. the dental side has access to extracted precious teeth that wer highly used from 1970s till about that 2011 pop in Gold prices when alternative zirconia became its replacement. The sad fact is Zirconia materials require more tooth demolition and that leds to root canals and failes way sooner than gold and its other precious metal alloys such as Silver and palladium. Nothing replaces Gold in history. Rev. 21:21 has streets of gold like glass. https://www.reddit.com/r/interestingasfuck/comments/40jan8/a_5_mm_diameter_gold_nugget_below_can_be_hammered/ I cant wait to see - Psalms 12:6 . Pure as Silver rtefined 7 times. Anyone, Can you give me a .9999999 ---A 7 niner? Amen- Maybe next time a talk on those Funeral homes and subtraction instead of Extraction.
This is what the global leaders meant when the chanted "The great reset" in unison:
https://www.youtube.com/watch?v=LDN6gmIJ5Os
Miners still going up. Inflation too holding PMs getting stronger.
Thank you David. I used to stack with just conviction. Now with additional insider knowledge from you sure feel better
I think London is working hard to ease the pressure. They can't alienate the big investors; they all come from the same clan. But they can terminate contracts, agree to preferential delivery terms, and whatever else they can think of. Who knows what reserves the clans have? How much precious metal have they themselves hoarded and accumulated over decades and centuries? They can certainly spare a "few tons" to keep the game going. After all, they got everything at bargain prices. They don't care about fiat either and exchange it for land.
I think every dip is a good opportunity to buy more – that's my personal opinion. After all, you can still get silver at much lower prices. Furthermore, many coins from inheritances are being sold off in private circles to exchange them for fiat coins.
The London Silver Market spot contracts are party-to-party private contracts governed by the Common Law.
The London silver market, the UK gov, and king have zero authority over these contracts and are subject to the law themselves.
Magna Carta.
Yes, the City of London is a sovereign country. But they can do whatever they want with it. Do you think Magna Carta applies there? I don't think you assume Magna Carta applies in the City of London.
If they try to go around it, it is the end of the City of London as a financial center.
I also see that a precious metal run can do that.
In any case, the consistent solution requires the official dissolution of this state.
This takes us to the next level of artificial international law. OK, I don't call it law anymore.
They are just rules like in a board game that are accepted by a sufficient number of states - what do you call it sooooooooo beautiful? - Rule Based Order, lol.
SGE will be so happy.
Keep stacking!
Buy that effing dip!