Silver will now go up...........

[Ponce]

Because I say so.........and I have spoken........God Jr in trining told you so.

Your last chance to buy silver......or gold......at this LOW prices.

[ShortJohnSilver]

Because of Greek bailout or something else?

[Serpo]

Something else...............................this is a hint .....there are 3 of them............

[Ponce]

Something else........I can feel it in my bones.........I don't think as other do because to do so is to follow the sheeps.

[Serpo]

bbbbbbbbaaaaaaaaaaaa

[Serpo]

28 June 2011
Gold Daily and Silver Weekly Charts - La Douleur du Monde - Most Likely to Go Supernova

"It appears that there is an undeliverable force heading towards an unmanageable object."

At some point the shysters will lose control of the monetary papier-mâché which they have created. And the subsequent reaction could be epic, with the almost inevitable force of nature, like a tsunami rolling in.

Only a few people understand this. So it could be quite the surprise to many.


In the meantime the bankers and politicians are scrambling for the goodies pouring out of the financial piñata which they cracked open in the financial crisis.

The banks have plenty of gold to lease into the bullion banks, and then on into the markets and as collateral for leveraged paper obligations. But they are running out of silver, which causes me to believe that the silver cartel will break first, and will lead the way higher, as it has been doing.

A handful of Too Big To Fail Banks seem to be short more silver than can possibly be delivered without incurring terrific losses, even by today's distorted standards. From the looks of it, it appears that there is an undeliverable force heading towards an unmanageable object. Further complicating matters is the possibility of a magnitude 9.6 sovereign debt earthquake in the markets.

Unless there is some forced settlement, some draconian government intervention, silver appears to be a leading candidate for the manipulated market most likely to go supernova.

But I would be careful about trying to time this event too precisely, or overplaying one's hand with leverage. There are some powerful forces lined up with the Banks as you might well expect. And they can make things happen. We watch the charts, but they can write them, at least for the short term. But their time will come.

If the equity market does not fall apart over Greece et al., I would imagine that the trading desks will try to stand on the metals until a little closer to quarter end, then its elevator going up. But watch out for a Greek related problem. I am not sure how the markets might react to this if it really is another Lehman like event. So as you might expect I am running a paired trade, and net short into the close.

The dollar chart is a big problematic. I can make a scenario for a break either higher or lower from the chart. I think we will know the move when it comes, but predicting it in advance is a dicey thing, except for the broken clocks.

If the sovereign default situation goes badly there *could* be a liquidation selloff that would impact silver, and to some extent gold. This is why I am holding paired trades that are short stocks and long bullion. I further adjusted the risk downward today, and lengthened the shorts.

charts ect..........
http://jessescrossroadscafe.blogspot.com/2011/06/gold-daily-and-silver-weekly-charts-la.html

[Spectrism]

You may be right. The choice of the morons-in-charge is: inflate or die. We will see more of the 2008-2009 stuff, with mortgages imploding and real estate diving. This "debt ceiling" thing is just a ruse to get the taxpayers on the hook for what the federal reserve is going to do anyway.

Money creation is not happening. No real increase in borrowing with no real increase in jobs (debt service capability). Actually, we will see unemployment get much worse.

So, the government takes on debt that we cannot. Why? The money system crashes if they don't. They are only looking at the short term. They cannot see beyond one year. The delusional morons cannot even see beyond their feet.

Consider how quiet the skies and roads would be if nobody accepted FRNs. Now imagine how empty the stores would be in less than one day. Mad Max city. And yes... no chicken mignuggets. All hell breaks loose.

So what is the alternative? Money pumped into pet projects and companies. They will starve anything that seems patriotic or good for America. They will feed the socialist friends with cash. The first with the cash get the most value. After it trickles into your hands, it is already inflated to less value. Waiting for the cash to get to you is a losing game. Hold assets that retain value.... their price goes up as the FRN value goes down.

[Serpo]

http://2.bp.blogspot.com/-YZV1scyM4UU/Tgp8CDas_mI/AAAAAAAARHc/13tSlLI4FCE/s1600/silverinventory.PNG

[gunDriller]

Because I say so.........and I have spoken........God Jr in trining told you so.

Your last chance to buy silver......or gold......at this LOW prices.

if you are going to be God Junior ... do you have to have perfect spelling ?

ANSWER ==> obviously not.


but i disagree that this was "the low" of 2011.

it made $32.90-ish back in May. got into the low-to-mid $33's this time around.

i think when the Collapse of 2011 hits the airwaves, it will return to the $25 to $34 range.

one of the variables is the Aug. 2 debt ceiling debate. i think the Repubs will budge, but it will be down to the wire resulting in mucho de volatility.

[Gaillo]

Something else...............................this is a hint .....there are 3 of them............

Let me guess... it starts with Q, and ends with E? ;D

[Serpo]

Turk - Summer Gold Trading Will Be One for the History Books

With continued volatility in gold and silver and the US dollar falling back to the 75 level on the index, today King World News interviewed James Turk. When asked about the action in gold and silver Turk stated, “What we are seeing right now is a double-bottom in silver with gold staying strong near $1,500. With options expiration on both exchanges now behind us, we can expect a bounce from here.”
KWN BLOGshapeimage_27_link_0shapeimage_27_link_1



June 28, 2011


“One of the things that I look at Eric is the demand for physical metal. Interestingly, when we broke above $1,550 last week there was a noticeable fall in demand from Asian buying. But the Asians have come back into the market and they are underpinning gold here at $1,500. With option expiry over and Asian demand strong once again, we can assume there is a floor under the gold market at $1,500.


Even though we are below $35 on silver, I still see this as a test of that support and I would not be surprised to see a quick snap-back to $35 within the next few days. With the three day holiday weekend ahead of us I’m sure the shorts are already thinking about covering, particularly because there are so many trouble spots that could blow up at any moment that would cause a rush to the safety of precious metals.


When asked specifically about what is going on in Europe Turk had this to say, “We’ve got civil disobedience growing in different countries. People are becoming fed up by bad decisions made by politicians that favor bankers rather than taxpayers....


“I don’t know how this is going to end up Eric but one can sense the growing tension as the hot summer months approach. It’s very reasonable to expect growing unrest. It’s not just Greece and Spain, over here in the UK a big strike is being planned for Thursday. This is the type of union activity that is common place during periods of significant inflation.


People just have not come to grips with the fact that governments are running out of money, which brings to mind my favorite Margaret Thatcher quote, ‘The problem with socialism is that eventually you run out of other people’s money.’ There is also a great deal of non-union tension as rising costs are continuing to erode people’s living standards.


Back to gold and silver, I actually like the action of the gold/silver ratio, yesterday it closed at 44.5 so it is back at support. This is a further indication to me that the correction has reached its nadir. The interesting thing about corrections like this Eric is how rapidly bullish sentiment evaporates even while the fundamental factors driving the metals higher this past ten years remains very favorable.


In fact with bankruptcies of governments becoming more and more likely, the reasons for owning gold and silver have become even more pronounced. Summer has only just started, but I still see this as a summer that will be like 1982, one for the history books.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/6/28_Turk_-_Summer_Gold_Trading_Will_Be_One_for_the_History_B ooks.html

[Serpo]

Let me guess... it starts with Q, and ends with E? ;D

Nope..........starts with T and next word starts with P.........LOL

[Ponce]

LOL General, God Jr has other things to worry about than his spelling.......like, what to eat for dinner hahahahahahah.

[MNeagle]

well, what's causing this lovely dip today?

[madfranks]

well, what's causing this lovely dip today?

Yeah, my thoughts exactly. Ponce, what's going on here?

[Dogman]

Yeah, my thoughts exactly. Ponce, what's going on here?

Blame , outlaw ak silver art, I was talking to him on the phone last night and I started ribbing him about his prediction and he stood his ground not giving one inch! :o

So you know how it is , always blame the one that is not around. ;D;D

He is enjoying, taking a small break ,posting here. Tho he will and did log in last night to read some of the stuff I told him about being posted , to catch up on what is going on here. ;D

[mamboni]

Let us look at the big picture. We are in the throes of a supercycle credit deflation. The total credit issued has stalled and plateaued at about $52 trillions when it should have been north of $60 trillions about now to keep the debt pyramid/credit Ponzi scheme alive. What else is going on?

1. Republicans are demanding spending cuts before any rise in the federal debt ceiling. This is very deflationary and is freaking out little Timmy, the Bernank, and the Wall Street "Hose, Rinse & Repeat" guys. Up till now, government has tried to prop up credit markets and take up the slack for the shrinking private credit markets with obscene deficit spending. Silly republicans don't understand Ponze finance! Conventional wisdom says that TPTB cannot allow a deflationary holocaust and will ultimately raise the debt ceiling and print and print and print. But as Yoda said: "Difficult to predict the future is, always in motion!"

2. OI on COMEX remains very high despite record decline in silver inventories to about 27 million ounces. Game of chicken between longs and shorts proceeds. Of course, COMEX shorts have the advantage becuase they can declare Force Majeur and compel cash settlements in lieu of silver delivery. The real question is waht will physical silver price do?

3. Europe, specifically the Troika (ECB, IMF, EU) are desperate to prevent a Greek default. Greek's finances are a Greek tragedy. Any change in bond terms could trigger a nuclear derivatives explosion. And a Greek default will likely set in motions defaults by Portugal, Spain and Italy and collapse of the EURO system. Of course, Greek bond rates are exploding higher. The Troika must ultimately print and print to prop up Greece. This sounds inflationary. But the risk of soveriegn defaults is very deflationary.

4. US economy double dipping and on the balls of it's ass - deflationary.


All of this adds up to one thing: VOLATILITY. I think the chinese refer to silver as the devil's metal for it's ferocious volatility even in the best of times. Bottom line: hold your silver and close your eyes!!

Long term: silver is the ultimate Malthusian resource play and world's oldest money and a BUY and HOLD.

[Libertytree]

"This is very deflationary and is freaking out little Timmy"

NEW YORK (CNNMoney) - Tim Geithner is considering leaving his post as Secretary of the Treasury after a deal to raise the debt ceiling is reached, a source familiar with the discussion told CNN Thursday.

Geithner is the lone remaining member of President Obama's original economic team (CLICK HERE for the full story on CNNMoney).

http://inthearena.blogs.cnn.com/2011/06/30/report-tim-geithner-considers-resigning/

[Ponce]

I did read an article that said that silver is supposed to come down to $25.00 before going back up to at least $60.00, in a way I hope that it is true because it will give the late comers a chance to buy some.

First post for yesterday and today...........good sunny morning to one and all.

[zap]

Good Morning Ponce....

[StreetsOfGold]

Q: What do old friends and a fat chick's thighs have in common?







A: They keep in touch

So, with that in mind, have you been keeping in touch with silver sammy??