Silver at 26 tonight?

[Cebu_4_2]

This like the market in 2008, crazy shyt. Fortunately the dollar is way up.

Okay folks, what are the reasons today for this mishap?

[ximmy]

This like the market in 2008, crazy shyt. Fortunately the dollar is way up.

Okay folks, what are the reasons today for this mishap?


I'm waiting around tonight to buy... heehee...

don't sweat...
remember:
jobs are plentiful
college is cheap
mortgages are affordable
banks are lending money
US manufacturing is full speed
retail profits are sky-high
there is a national debt surplus
only a few foolish americans hold silver and gold
government handouts are at an all time low
taxes are negligible
health care is cheap
there are no wars
there is no metals manipulation
banks don't control commerce
you can trust the media
your government loves you
ximy :D

[Serpo]

This like the market in 2008, crazy shyt. Fortunately the dollar is way up.

Okay folks, what are the reasons today for this mishap?


Reason? whenever have they had to have a reason. ;D

[Cebu_4_2]

Reason? whenever have they had to have a reason. ;D


Fvck... okay it was right in front of my eyes.

Night all, hope for a good day tomorrow!

[Bigjon]

This like the market in 2008, crazy shyt. Fortunately the dollar is way up.

Okay folks, what are the reasons today for this mishap?


buying opportunity coming up. I think the long term chart shows the trend can take a fall to 22 without breaking it.

[Neuro]

This like the market in 2008, crazy shyt. Fortunately the dollar is way up.

Okay folks, what are the reasons today for this mishap?


buying opportunity coming up. I think the long term chart shows the trend can take a fall to 22 without breaking it.
22 that is quite impressive... Any lower than that and we will have the buying opportunity of the millennia, if you can find any, that is!

[Silver Shield]

My little theory is that it is a new year and the banks did not get crushed last year. We are also just past a delivery month of December and months away from the next delivery month of March.

So they are going to lump on some shorts and see if they can recreate 2008.

I for one think they are playing with fire and if they whack it too much they are going to create a physical squeeze unlike anything before. When silver got whacked to 10 I got one of my buddies to take delivery of 10,000 Oz.

Their best bet is the organized steady retreat they have been doing. There are too many sharks on our side that would pounce on the huge smackdowns.

As ximmy pointed out above, NOTHING has changed and everyday more debt is created.

The day of reckoning draws closer.

My hope is that this is part of JPM and HSBC unloading their shorts to off shore shell companies and that they are going long on the otherside. When they are done there will be no more sellers physical or paper in the market. After that you can throw out all of the charts as 138 years of manipulation ends.

$50 silver in March...

Got to love silver porn.

[mick silver]

and i will be one of the sharks ... i have been loading up on paper waiting for the right time to buy

[Neuro]

I totally agree with you SS, but pretty much the same arguments were heard in 2008, about the impossibility of it even going down below 15. Personally I don't think we are ready for a big drop yet, but certainly one will come that will be breathtaking, just as the gains prior to it. Traditionally we are in a strong period for the metals, I think we will see 35-40 before the drop.

[SLV^GLD]

Traditionally we are in a strong period for the metals, I think we will see 35-40 before the drop.
What, exactly, does that mean. At first glance it appears to be nonsense. How can we be in a traditional period when we are in completely uncharted waters?

[Awoke]

Well, I won't be around a computer tonight, so if it hits $26, can someone call me?

[TheNocturnalEgyptian]

Powder is so dry, I've got a 100 foot perimeter cordoned off around it. Show me what you got, banksters!

[Sparky]

Traditionally we are in a strong period for the metals, I think we will see 35-40 before the drop.
What, exactly, does that mean. At first glance it appears to be nonsense. How can we be in a traditional period when we are in completely uncharted waters?


I think neuro was referring to the seasonal biases in price. The strongest months for silver over the last 10 years have been November through March. The weakest have been June through August. See http://www.zealllc.com/2010/silvseas.htm.

I agree with neuro that we will see one more advance past the $31 high this winter before a stunning drop.

[Sparky]

Silver has gone through 3 rapid drops of more than 30% since the bull began:

3/31/2004 to 4/28/2004, price dropped from $8.30 to $5.50 (-34%) in 4 weeks.

5/10/2006 to 6/12/2006, price dropped from $15.00 to $9.70 (-35%) in 5 weeks.

7/12/2008 to 8/12/2008, price dropped from $19.25 to $12.75 (-34%) in 4 weeks
then to $10.50 (-45%) by 9/12/2008 (8 weeks)
then to $8.75 (-55%) by 10/23/2008 (14 weeks)

So we've seen this every couple of years, and it's been a couple of years since the last one.

33% off of $31 is $21. The current 200-day moving average price of silver is $21.

[Trinity]

If Silver goes below 28 dollars at anytime this year I will eat my "Members Only" jacket.


http://www.youtube.com/watch?v=C_cNzV8AxdU&feature=related

[Libertytree]

If Silver goes below 28 dollars at anytime this year I will eat my "Members Only" jacket.


http://www.youtube.com/watch?v=C_cNzV8AxdU&feature=related



Care to bet an ASE?

[Trinity]

Let me think about that Libertytree.

[MNeagle]

Let me think about that Libertytree.


Just send him your jacket if you lose!

[Libertytree]

Let me think about that Libertytree.


You made the statement, care to back it up? I'll even send a mod my SAE and let it ride till then.

[SLV^GLD]

Better start boiling that jacket...

[Trinity]

Thought it over Libertytree. I will not bet any of my precious SAE's. But I will donate 35 dollars (the cost of an SAE) to the site if Silver goes below 28 bucks an ounce this year. If Silver stays above 28 dollars an ounce you donate 35 bucks to the site. And eating my "Members Only" jacket is off the table if you accept this bet.

[Antonio]

Even though I still got a respectable stack of both Au and Ag, not only I don`t have 35$, I only have a 2500$ CC debt which I intend to pay with Weimar US$ next year after liquidating a Roosvelt dime. I can`t afford a ******* pack of cigs and roll my own. But wait until TSHTF ;D ;D ;D ;D

[Libertytree]

Well Trinity, then it'll just have to be a gentlemans wager. I gamble for gain and besides....I gave at the office. ;D

[StackerKen]

pull backs are healthy...aren't they?


so this little pull back is a good thing :)

[Cebu_4_2]

pull backs are healthy...aren't they?


so this little pull back is a good thing :)




wait til Sunday night when Asia see this! Buying frenzy by the Jeepney load.

http://t0.gstatic.com/images?q=tbn:ANd9GcTypKtrPgn51YXkByT6IZdDEATDsuWC-iR65nN3S2hvDyKBx7vnug

[Serpo]

http://www.zealllc.com/2011/cpisilv3.htm

[Serpo]

pull backs are healthy...aren't they?


so this little pull back is a good thing :)




wait til Sunday night when Asia see this! Buying frenzy by the Jeepney load.

http://t0.gstatic.com/images?q=tbn:ANd9GcTypKtrPgn51YXkByT6IZdDEATDsuWC-iR65nN3S2hvDyKBx7vnug


http://www.greenpeace.org/international/en/news/features/filipino-jeepney-green-energy-050707/

[Cebu_4_2]

pull backs are healthy...aren't they?


so this little pull back is a good thing :)




wait til Sunday night when Asia see this! Buying frenzy by the Jeepney load.

http://t0.gstatic.com/images?q=tbn:ANd9GcTypKtrPgn51YXkByT6IZdDEATDsuWC-iR65nN3S2hvDyKBx7vnug


http://www.greenpeace.org/international/en/news/features/filipino-jeepney-green-energy-050707/


Been looking into getting a job working on these things, nothing yet though.

[Neuro]

Traditionally we are in a strong period for the metals, I think we will see 35-40 before the drop.
What, exactly, does that mean. At first glance it appears to be nonsense. How can we be in a traditional period when we are in completely uncharted waters?


I think neuro was referring to the seasonal biases in price. The strongest months for silver over the last 10 years have been November through March. The weakest have been June through August. See http://www.zealllc.com/2010/silvseas.htm.

I agree with neuro that we will see one more advance past the $31 high this winter before a stunning drop.
You got my intention right. One thing that speaks for further gains before the drop is the strength of the dollar vs other currencies (apart from seasonal strength). I can't imagine that the dollar will continue gaining for much more, so we should see a drop in usdx, with a corresponding gain in metals before the drop. I think we can expect quite dramatic PM gains soon.

[Trinity]

I think we can expect quite dramatic PM gains soon.

If we don't see 33 dollar Silver by mid February I will crap in my pants. ;D

[1970 silver art]

I think we can expect quite dramatic PM gains soon.

If we don't see 33 dollar Silver by mid February I will crap in my pants. ;D



What does Aunt Jesse think of that? ;D ;D ;D I was going to offer you a bottle of Tabasco sauce but I do not think that Tabasco sauce and sh*t will go very well together;)

[Neuro]

I think we can expect quite dramatic PM gains soon.

If we don't see 33 dollar Silver by mid February I will crap in my pants. ;D

I wonder if anyone would like to take the other side of that bet/challenge? ;D

[Libertytree]

If Silver goes below 28 dollars at anytime this year I will eat my "Members Only" jacket.


http://www.youtube.com/watch?v=C_cNzV8AxdU&feature=related



How's that jacket tastin'? ;D

Got any pics or a vid? Also, how did you prepare it?

[Libertytree]

Wanna go double or nothin' at $26?

[Trinity]

Wanna go double or nothin' at $26?


OK we double it up. If Silver goes under 26 bucks an O.Z. I will eat a pair of old brown shoes.

[SLV^GLD]

Wanna go double or nothin' at $26?


OK we double it up. If Silver goes under 26 bucks an O.Z. I will eat a pair of old brown shoes.
Better start boiling those shoes. Welcher.

[cthulu]

Say hello to 21!!!!

[Bullion_Bob]

Keep in mind:

"When government deficits are financed through this method of debt monetization the outcome is an increase in the monetary base, or the money supply. If a budget deficit persists for a substantial period of time then the monetary base will also increase, shifting the aggregate demand curve to the right leading to a rise in the price level.

When governments intentionally do this, they devalue existing stockpiles of wealth of anyone who is holding assets based in that currency. It is in essence a "tax" as the overall value of their assets decrease due to a loss in spending power. This is known as "inflation tax".

To summarize: a deficit can be the source of sustained inflation only if it is persistent rather than temporary and if the government finances it by creating money (through monetizing the debt), rather than leaving bonds in the hands of the public.


Monetizing the debt can be used as a component of quantitative easing strategies, which involve the creation of new currency by the central bank, which may be used to purchase government debt, or can be used in other ways.

However, there can be an insidious effect. As noted macroeconomist Nouriel Roubini noted:

“When governments reach the point where they are borrowing to pay the interest on their borrowing they are coming dangerously close to running a sovereign Ponzi scheme. Ponzi schemes have a way of ending unhappily. To get out of the Ponzi trap, governments will have to increase tax revenues, or cut spending, or monetize the debt--or most likely do some combination of all three. [5]"

More here:
http://dailybail.com/home/how-the-federal-reserve-and-the-zombie-banks-are-monetizing.html

Debt ceiling will be raised, then QE3, QE4,... rinse, repeat.

It's the war on terror. "Stay the course!" -Bush -Obama etc...etc...forever until bust.

The money has been printed, monetized, and continues on at a furious rate. How much taxes, and service cuts do you think it will take. Feasible? Destination monetization?

Low priced PM's would seem to be a loophole right now. A gift perhaps.

You buy one ounce, they get burned by a hundred on the books. One thousand = consolidation burn of one hundred thousand, and so on.

DYODD? :whistle

[Antonio]

I think we can expect quite dramatic PM gains soon.

If we don't see 33 dollar Silver by mid February I will crap in my pants. ;D



What does Aunt Jesse think of that? ;D ;D ;D I was going to offer you a bottle of Tabasco sauce but I do not think that Tabasco sauce and sh*t will go very well together;)


Aunt Jesse likes people joining the shit-in-pants club. Believe me, when properly done in public, it`s the most liberating experience ever, you literally don`t give a shit about anything after that. I wouldn`t exchange this for a crown.

[mick silver]

Wanna go double or nothin' at $26?


OK we double it up. If Silver goes under 26 bucks an O.Z. I will eat a pair of old brown shoes.
how about my work boots oh ps i forgot i walk to the barn every morning were 50 cows are

[Libertytree]

Wanna go double or nothin' at $26?


OK we double it up. If Silver goes under 26 bucks an O.Z. I will eat a pair of old brown shoes.


At this rate my friend you're gonna be nekkid and malnourished. ;D

[Trinity]

Wanna go double or nothin' at $26?


OK we double it up. If Silver goes under 26 bucks an O.Z. I will eat a pair of old brown shoes.
how about my work boots


Ship em to me. Maybe I'll double up on the double up and eat two pairs of shoes if Silver continues to go lower. Are they leather?

[Trinity]

Hugginator I really did think the 28 level would hold. Serious. I'm always super bullish on the metals to a fault probably. Now I'm just kidding around waiting for the bottom. Hey the only people who get hurt on these downturns are the goofs who go long paper not the physical buyers so anybody who is smart hasn't got hurt.

[Libertytree]

What do ya think about a $25 level?

[Neuro]

What do ya think about a $25 level?
I think we turn now at $26.50, never to look back! ;)

[osoab]

What do ya think about a $25 level?
I think we turn now at $26.50, never to look back! ;)


Looks like we bounced @ 26.60 when the USD turned down. Did you polish your crystal ball last night?

http://www.finviz.com/fut_chart.ashx?t=DX&cot=098662&p=m5

http://www.finviz.com/fut_chart.ashx?t=SI&cot=084691&p=m5

[Awoke]

Hugginator I really did think the 28 level would hold. Serious.

I'm with you. I never expected to see silver at sub -27 this soon.

[Neuro]

What do ya think about a $25 level?
I think we turn now at $26.50, never to look back! ;)


Looks like we bounced @ 26.60 when the USD turned down. Did you polish your crystal ball last night?

http://www.finviz.com/fut_chart.ashx?t=DX&cot=098662&p=m5

http://www.finviz.com/fut_chart.ashx?t=SI&cot=084691&p=m5

Still looking good! ;) I felt inspired! Still early though...

[Bullion_Bob]

Hugginator I really did think the 28 level would hold. Serious.

I'm with you. I never expected to see silver at sub -27 this soon.



I never expected China, the third largest producer in the world to be importing the hell out of it, and up 4 fold in consumption.

The gloves are off, and it only gets more exciting from here on in.

I wonder how long until the COMEX paper pushers get torched?

I just had two more shipments delayed on me. hrrrmmm...

[Luis337]

I'm wondering if I should buy the dip.

[chad]

I'm wondering if I should buy the dip.


BTFD!

[Sparky]

I bought the dip today for a short term paper trade back to $28, but it looks like we'll be down to $21-$23 some time in 2011. So don't use all your dry powder on this dip. For dollar-cost-averaging accumulation, I'd recommend planning to buy at sub-$27 (now), sub-$25, and sub-$23.

Silver's such an untamed bitch that sub-$20 is not out of the question. (Don't forget the 2008 drop from $21 to $8.) However, $21-$23 seems like a reasonable floor since it was the previous longstanding ceiling.