Why the big drop?

[steyr_m]

Why is everything dropping? I haven't heard any new announcements....

[Gaillo]

Why is everything dropping? I haven't heard any new announcements....

It's the "death rattle" of the elite's hopeless lost battle against metals regaining their actual value! Not much longer now...

[platinumdude]

So who is buying this weekend with the discounted prices? Or are you hoping for further discounts?

[Buddha]

I am hoping for further discounts. The one thing that PM's have taught me is patience, and that goes both ways. If I'm wrong, so what, there will be another time as long as I keep my powder dry. Besides, 35, 34, 39, dont matter, when the moon is in sight. The tight wad asshole in me though still wants to save a buck here and there, I can save a buck here and there, but there is no losing a buck here and there, get it?

[palani]

Decision to release 30 million barrels of oil from strategic reserve. Bound to reduce the price of fuel and metals are coupled in some mysterious fashion with oil price.

[Sparky]

Technicals. It went from $1150 to $1550 in 9 months; it's got to give up $150-$250. Expect a price of $1300-$1400.

[Horn]

Why is everything dropping? I haven't heard any new announcements....

The rest of mankind that were not killed by these plagues still did not repent of the work of their hands; they did not stop worshiping demons, and idols of gold, silver, bronze, stone and wood--idols that cannot see or hear or walk.

And just What happened to all the GSUS bible quoters?

[gunDriller]

The rest of mankind that were not killed by these plagues still did not repent of the work of their hands; they did not stop worshiping demons, and idols of gold, silver, bronze, stone and wood--idols that cannot see or hear or walk.

And just What happened to all the GSUS bible quoters?

daily dose of Bible for ya -

Luke 1:26-38

In the sixth month, God sent the angel Gabriel to Nazareth, a town in Galilee, to a virgin pledged to a man named Joseph, a descendant of David. The virgin's name was Mary. The angel went to her and said, "Greetings, you who are highly favored !! The Lord is with you." Mary was greatly troubled at his words and wondered what kind of greeting this might be.

But the angel said to her, "Do not be afraid, Mary, you have found favor with God. You will be with child and give birth to a son, and you are to give him the name Jesus. He will be great and will be called the Son of the Most High. The Lord God will give him the throne of his father David, and he will reign over the house of Jacob forever, his kingdom will never end."

"How will this be, "Mary asked the angel, "since I am a virgin ??" The angel answered, "The Holy Spirit will come upon you, and the power of the Most High will overshadow you. So the holy one to be born will be called the Son of God. Even Elizabeth your relative is going to have a child in her old age, and she who was said to be barren is in her sixth month. For nothing is impossible with God." "I am the Lord's servant," Mary answered. "May it be to me as you have said." Then the angel left her."

[joe_momma]

Comex contracts close on the 28th.

[beefsteak]

The rest of mankind that were not killed by these plagues still did not repent of the work of their hands; they did not stop worshiping demons, and idols of gold, silver, bronze, stone and wood--idols that cannot see or hear or walk.

And just What happened to all the GSUS bible quoters?

Well, Horn, I'm a Bible Quoter. You needing a quote on somethin'? ;D

I don't hurl them like poison dart blowtubes, tho'...there are plenty of those who can handle the dart gun....

As far as "rest of mankind who survived the plagues...." I think that's what God calls "mercy"...thank goodness! Move over, Paul...I'm no saint. Just forgiven.


beefsteak

[beefsteak]

You're right Joe_Momma...
and so do the OTC contracts, IN LONDON, where the big BIG BIG boys play. With the Forex jiggle being cut off mid July here stateside, this might be even a more spike to the downside yet ahead this week.
A lot depends upon the jawboning and then legislative voting in Greece on this "austerity banker blackmail gambit" under consideration over there.

beefsteak

[gunDriller]

{ side note - how come if i use quick reply, i have bold & picture icons available, but if i 'go advanced', i have to type in the HTML tags ? }

anyway, i believe Harvey Organ's meticulous log on the drawdown in silver inventories. i can't argue against the obvious very short-term trend - silver's weekend close at $34.32, reminds me of the low weekend close at $17.30 about a year ago.

but just looking at those 2 numbers, the larger trend is also obvious.

oil seems to be the big price driver right now. with July 4 weekend just one week away - you know, the big driving weekend - i don't think oil can spend more than a week at this level, before bouncing back up. and same for silver - while it's tracking oil and the effect oil has on the US $.


BUT on the other side of the July 4 weekend, we have second quarter results coming out - and we know they will reflect economic contraction.

i could be a bank analyst - i can argue both sides of the argument !

[LastResort]

I don't know why you can try to explain it away on many things. None of the reasons really make sense and you just end up sounding like the MSM making shit up on whatever sounds best on that given day. Would be nice if it dropped down a bit further come early August when I'll have some spare paper to exchange for silver....

[osoab]

i don't think oil can spend more than a week at this level, before bouncing back up. and same for silver


But Goldman said to go short.