Dam here we come 20 dollar silver

[mick silver]

gold and silver taken a big hit today . whats up that making metal run south ?

[Shami-Amourae]

I don't care. I'm buying more at $23-24. I'm putting all my fiat in at anything below $20.

[chad]

people liquidating to pay for their mandated $40,000 a year basic health care plan.

[mamboni]

This ruling will have a temporary deflationary effect on the metals....temporary. In the long run, nothing fundamental has changed. I predict that tax receipts will actually drop even more and the federal deficit will shock everyone next year. Many small businesses will either stop hiring to stay under the rule or simply close their doors. The social welfare state cannot survive in a deflationary economy. The federal government is massively underfunded - it's actually insolvent. State pension funds are all underfunded and can only be rescued by either a rise in nominal prices of stocks (i.e. massive POMO on steroids) or direct federal bailouts (i.e. TARP time ten). The longer the FED tries to delay the inevitable monetization, the bigger the money printing will have to be. The Supreme Court decision today confirms that the Constitution and the rule of law are dead in America. No asset or property you own is safe from the kleptocrats unless it is in your physical possession and outside the banking system. Personally, I have stepped up my conversion of dollars to physical metal and will continue to do so indefinitely. At this point, outside of stored food, water and firearms, your only refuge is physical gold and silver. Everything else is up for grabs. And they will grab it.

Understand this: the dollar is a dead currency, an IOU against a tommorrow that will never come. The only wealth you can own is physical ounces of gold and silver. The only utility left in the dollar is in how many ounces of gold and silver can be purchased with it. We are living in a temporary state of deceptive stability within a longer time frame of literal economic and societal disintegration. To quibble about the dollar price of gold and silver at a time like is this foolhardy and potentially suicidal.

[mick silver]

i sold alot of timber a fews weeks back .i may hold on till silver drop to around 22 or 23 before i jump in again . i brought in all the way till 15 last time then i had that boat wreck

[Twisted Titan]

To quibble about the dollar price of gold and silver at a time like is this foolhardy and potentially suicidal.



Quoted for dam Truth

[gunDriller]

This ruling will have a temporary deflationary effect on the metals....temporary

why do you think the Obamacare ruling is impacting PM prices ?


i was thinking this is just another raid.

silver is trading as a risk asset, tracking the stock market.

as Dan Norcini pointed out in a recent tech. note, when the silver market crashes it's not always Cartel raids, sometimes it's fund selling.

i suspect that the Cartel action leads to fund selling because they realize they can't make any money on Silver this quarter.


meanwhile long term investors are scooping up physical silver. i suspect that physical accumulation exceeds the annual production rate of silver.

for gold in the last year, physical accumulation has been about twice annual production. China is scarfing up gold at a rate up to 100 tons per month. monthly annual production is 200 tons per month.

i wonder how much JP Morgan pays people for not taking delivery on physical contracts. Harvey Organ says they give people $ for backing out of agreements where they are owed physical.

[Awoke]

Bring on the $16 silver!!@!~!!!~!

EDIT - for the record, that post was in all caps, but that stupid rule about caps is in effect it seems.

[mamboni]

why do you think the Obamacare ruling is impacting PM prices ?


i was thinking this is just another raid.

silver is trading as a risk asset, tracking the stock market.

as Dan Norcini pointed out in a recent tech. note, when the silver market crashes it's not always Cartel raids, sometimes it's fund selling.

i suspect that the Cartel action leads to fund selling because they realize they can't make any money on Silver this quarter.


meanwhile long term investors are scooping up physical silver. i suspect that physical accumulation exceeds the annual production rate of silver.

for gold in the last year, physical accumulation has been about twice annual production. China is scarfing up gold at a rate up to 100 tons per month. monthly annual production is 200 tons per month.

i wonder how much JP Morgan pays people for not taking delivery on physical contracts. Harvey Organ says they give people $ for backing out of agreements where they are owed physical.

This law is a new set of taxes and new burdens on businesses and families. It will decrease money velocity and diminsh disposable income. Therefore it will have a deflationary effect. Many will sell the metals in anticipation of Jan 1 2013 and a whole new slew of taxes kicking in, this law included. Government taxation is always deflationary, because government is run by utter fucktards who will always spend the money in the worst and most inefficient way. Like I said elsewhere, the silver price in dollars is irrelevant. The dollar is a dead currency walking. The dollar is a short on the only real money, physical silver and gold. Hold dollars and you will be wiped out....in time. I'm not waiting for it: better early than late. How about you?

[chud]

This ruling will have a temporary deflationary effect on the metals....temporary. In the long run, nothing fundamental has changed. I predict that tax receipts will actually drop even more and the federal deficit will shock everyone next year. Many small businesses will either stop hiring to stay under the rule or simply close their doors. The social welfare state cannot survive in a deflationary economy. The federal government is massively underfunded - it's actually insolvent. State pension funds are all underfunded and can only be rescued by either a rise in nominal prices of stocks (i.e. massive POMO on steroids) or direct federal bailouts (i.e. TARP time ten). The longer the FED tries to delay the inevitable monetization, the bigger the money printing will have to be. The Supreme Court decision today confirms that the Constitution and the rule of law are dead in America. No asset or property you own is safe from the kleptocrats unless it is in your physical possession and outside the banking system. Personally, I have stepped up my conversion of dollars to physical metal and will continue to do so indefinitely. At this point, outside of stored food, water and firearms, your only refuge is physical gold and silver. Everything else is up for grabs. And they will grab it.

Understand this: the dollar is a dead currency, an IOU against a tommorrow that will never come. The only wealth you can own is physical ounces of gold and silver. The only utility left in the dollar is in how many ounces of gold and silver can be purchased with it. We are living in a temporary state of deceptive stability within a longer time frame of literal economic and societal disintegration. To quibble about the dollar price of gold and silver at a time like is this foolhardy and potentially suicidal.

QFT, post of the year!

[gunDriller]

This law is a new set of taxes and new burdens on businesses and families. It will decrease money velocity and diminsh disposable income. Therefore it will have a deflationary effect. Many will sell the metals in anticipation of Jan 1 2013 and a whole new slew of taxes kicking in, this law included. Government taxation is always deflationary, because government is run by utter fucktards who will always spend the money in the worst and most inefficient way.

I'm not waiting for it: better early than late. How about you?

except for those darn boating accidents, i do not question the wisdom of owning physical.

at some later day, whether a person paid $35, $30, $28, or $26 for a silver round, cost per ounce delivered - it won't matter in a few years. of course, if a person can read the markets, they can get more silver for their FRN's if they buy the down-ticks - until the physical shortages hit.


but what i am curious about is the effect on the markets.

like Nancy Pelosi, i have not read the entire 2000+ page bill myself.

it seems to be a financial boon for the health care companies, because it forces people to purchase their products - under threat of hassles with the IRS and the implied threat of a lien on one's real estate property which accompanies some IRS civil litigation.

http://www.cnbc.com/id/26272770

i was looking at the Dow components. GE makes some medical products but it is not a large portion of their profits. of course, they are in a good position to expand their "health" care business. i use the term in quotes because i think Obamacare has more to do with $ than with real health.

Pfizer is a Dow component. they are down .35% for the day. i find that odd - the government has just given the US population a huge carrot & stick incentive to buy Pfizer products.


if this Obamacare resulted in a reduction of health care costs for business, then it would seem to be bullish. Alcoa is the first company on the list of 30. does Obamacare increase or decrease Alcoa health care costs ?

i hear hand-waving from Obama about how this will reduce health care costs - and i also hear about cases involving small businesses whose health care costs have soared since Obamacare was passed. i tend to believe the latter.


i'm thinking that within the next month, the question will be answered in KingWorldNews or Financial Sense webcasts, or on Zero Hedge or something.

[chad]

there's no possible way you can magically insure an extra 40 million people without having costs go up. none.

[mick silver]

if we all get less then you can chad ... yes you can i heard that some were before

[mamboni]

there's no possible way you can magically insure an extra 40 million people without having costs go up. none.

Bingo! This is axiomatic, unless you're a government parasite whose job it is to spend other people's money and lie to justify it.

I defy anyone to name one sector of the private economy that did not see costs rise and productivity decline after the fucking government stuck it's big greasy hairy nose into it!:mad::mad::mad:

[Bildo]

Understand this: the dollar is a dead currency, an IOU against a tommorrow that will never come. The only wealth you can own is physical ounces of gold and silver. The only utility left in the dollar is in how many ounces of gold and silver can be purchased with it. We are living in a temporary state of deceptive stability within a longer time frame of literal economic and societal disintegration. To quibble about the dollar price of gold and silver at a time like is this foolhardy and potentially suicidal.

Accolades from a lurker. I don't post often, Dr. mamboni, but I read everything you write.

I do take exception to one point though. The dollar has utility other than just buying metals - it's also useful as tinder, origami and wiping your ass.

[Sparky]

there's no possible way you can magically insure an extra 40 million people without having costs go up. none.

Well, there is one way, and that is to decrease the quality proportionately.

[mamboni]

Well, there is one way, and that is to decrease the quality proportionately.

Sparky, you are so right. So is Chad. The government will accomplish both, in spades. The cost of healthcare will increase greatly and simultaneously the access to and quality of care will be watered down. Patients will be frustrated, angry and miserable. But they will have no one to turn to or complain at. When a patient complains that a certain treatment or drug is not approved, the doctor will politely tell the patient that it is not his decision and he should complain to the government. Good luck finding someone in government who cares or can do anything about it. Patients will be dying waiting for the bureaucratic decisions that will arrive a day too late. As a physician, I will be reduced from professional caregiver to a government employee who punches the clock and follows protocol. If you want a foretaste of things to come, go visit a Veterans Administration Hospital.

[gunDriller]

there's no possible way you can magically insure an extra 40 million people without having costs go up. none.

my mother goes to the doctor for a bee sting (she's not allergic.)

i don't go to the ER when i cut my foot 5/8 inch deep. or have a lung infection resembling pneumonia.

different strokes for different folks.

but there's no way the general public should have to pay for my Mother's post-bee-sting trip to the doctor. sorry Mom.

[Silver Rocket Bitches!]

Don't look now but silver jumped up a buck in a couple hours.

[mick silver]

and gold up 48 paper bills

[Gaillo]

and gold up 48 paper bills

Nope... paper bills DOWN 48/1600 of their value! ;D


The value of Gold and Silver is the only monetary constant.