Silver = $19.89

[iOWNme]

Silver has officially broken the $20 barrier, is there another low to break? Or is the market about to crash from its bubble and send Silver and Gold to........'Infinity'?


Discuss.....

[Shami-Amourae]

Watch how many of the Gold/Silver bugs turn into Bitcoin bugs.

[gunDriller]

http://www.kitconet.com/charts/metals/base/t24_cp180x150.gif

copper down to $3.07.

lowest i've seen it in a few years.

[EE_]

http://www.kitconet.com/charts/metals/base/t24_cp180x150.gif

copper down to $3.07.

lowest i've seen it in a few years.

Because the economy is improving?

[EE_]

Watch how many of the Gold/Silver bugs turn into Bitcoin bugs.

gold/silver = exploration, mining, energy, labor, refining, minting, handling, scarcity, industrial/monetary use, history

Bitcoin = -0- air, backed by nothing, will not be insured against loss or theft

[gunDriller]

gonna be a lot of small scale miners taking the summer off - or mining & not selling.

$1300 gold just barely compensates a miner with a 'normal' claim - e.g. getting a pennyweight (1 1/2 grams ?) per ton. a mine like that has to process 20 tons of day - through a ball mill - to grind it up into dust.

then it goes into a machine that separates particles according to density.

that means loading 20 tons of rock into the ball-mill, and then unloading 20 tons of sand into the dredge system, and then unloading 20 tons minus 30 grams when all is said & done.

the most i've ever unloaded in one day is 1000 80 pound bags of cement (actually, tennis court stuff named Har-tru.) 80,000 pounds - i guess that was 40 tons. of course, i had 4 co-workers at the time.


just obtaining 1 gram of gold - manually, without the automated equipment - is a HELL of a lot of work.

the shortage will be interesting to watch. looks like the Cartel is planning on doing a Thelma & Louise - they are going to "run it" right off the edge of the cliff, where there is no physical to be had.


there's a lot of small-scale miners that will look at today's price slam and say, "FUCK YOU."

[PlatinumBlonde]

gonna be a lot of small scale miners taking the summer off - or mining & not selling.

$1300 gold just barely compensates a miner with a 'normal' claim - e.g. getting a pennyweight (1 1/2 grams ?) per ton. a mine like that has to process 20 tons of day - through a ball mill - to grind it up into dust.

then it goes into a machine that separates particles according to density.

that means loading 20 tons of rock into the ball-mill, and then unloading 20 tons of sand into the dredge system, and then unloading 20 tons minus 30 grams when all is said & done.

the most i've ever unloaded in one day is 1000 80 pound bags of cement (actually, tennis court stuff named Har-tru.) 80,000 pounds - i guess that was 40 tons. of course, i had 4 co-workers at the time.


just obtaining 1 gram of gold - manually, without the automated equipment - is a HELL of a lot of work.

the shortage will be interesting to watch. looks like the Cartel is planning on doing a Thelma & Louise - they are going to "run it" right off the edge of the cliff, where there is no physical to be had.


there's a lot of small-scale miners that will look at today's price slam and say, "FUCK YOU."


It's all getting hammered down so Barry can nationalize it on the cheap..

[EE_]

Western Mining Industry in Serious Crisis
By FS Staff 06/19/2013

More Sharing Services Two months ago, resource analyst John Kaiser made perhaps the call of his lifetime on the Financial Sense Newshour when he warned that gold investors should be prepared for a coming washout and correction in the gold market.

His prediction came true and within a week, as many of you probably remember, gold plunged by its largest recorded amount in 33 years. The Gold Miners ETF (GDX), which tracks the price of gold mining companies worldwide, similarly lost around 25% of its value in the weeks following.

Picking up where he left off in the last interview, he now says that if gold and commodities don't start to turnaround in the next 2-3 years, the western mining industry is facing a serious crisis:

The situation has become extremely dire. On Kaiser Research Online we cover about 1800 companies that are involved in the resource sector. As of June 12th, 738 have less than $200,000 left. That’s barely enough money to exist as a publicly listed company…and the inflow to these companies, it’s not happening. In May, we had the lowest financing activity for the resource sector since early 2003…there is no money whatsoever available except in very unusual situations, and then typically on very dilutionary, predatory terms. In the absence of higher real prices, in the case of gold, and a rebound in the global economy, in the case of base metals and specialty metals and so on, we have a serious crisis facing the mining industry, especially the western mining industry where the profit margin is the basis for everything. It’s not going to be a problem for Chinese state-owned entities who stand to basically inherit the mining industry unless there is a turnaround in the next 2-3 years.

In terms of gold itself, John doesn’t believe that it’s entered a long-term bear market, saying instead that he believes the recent large declines are due to bullion banks desperately attempting to extract physical gold out of a tight market through the COMEX and major gold ETF, GLD.


--------------------------------------------------------------------------------
http://www.financialsense.com/contributors/john-kaiser/western-mining-industry-facing-serious-crisis

[Silver Rocket Bitches!]

Let it drop.


5036

[Horn]

The situation has become extremely dire.


http://www.youtube.com/watch?v=_SnvejVyL2s

Truth=Gold

[Spectrism]

I would love to see it drop further.

Remember when it rocketed thru $40 and almost to $50? That scared me. If that kept on, we were doomed. I am much more relieved to see the price low. The only thing that bothers me is knowing it makes foreign governments (China) able to buy mega tons cheap.

[aeondaze]

gonna be a lot of small scale miners taking the summer off - or mining & not selling.

$1300 gold just barely compensates a miner with a 'normal' claim - e.g. getting a pennyweight (1 1/2 grams ?) per ton. a mine like that has to process 20 tons of day - through a ball mill - to grind it up into dust.

then it goes into a machine that separates particles according to density.

that means loading 20 tons of rock into the ball-mill, and then unloading 20 tons of sand into the dredge system, and then unloading 20 tons minus 30 grams when all is said & done.

the most i've ever unloaded in one day is 1000 80 pound bags of cement (actually, tennis court stuff named Har-tru.) 80,000 pounds - i guess that was 40 tons. of course, i had 4 co-workers at the time.


just obtaining 1 gram of gold - manually, without the automated equipment - is a HELL of a lot of work.

the shortage will be interesting to watch. looks like the Cartel is planning on doing a Thelma & Louise - they are going to "run it" right off the edge of the cliff, where there is no physical to be had.


there's a lot of small-scale miners that will look at today's price slam and say, "FUCK YOU."

Theres also a lot of small scale miners hocked up to their eyeballs indebted to the banksters having used their future production as collatoral who are bound to go to the wall if these prices continue for an extended period of time.

The banks love opportunities to hoover up producers for cents on the dollar. The ones with deep pockets, or higher grade deposits may well have the privellage to say fuck you, but there will be a whole lot more that simply don't. I spoke with a CEO at small silver mine in northern NSW at Texas (Oz) who was expecting a bottom of about $35/oz 2 years ago, hopefully they will have locked in a future price at that level, if not then its nighty night for these guys. They purchased the deposit back in early 2009 when the price was about $12/oz from the previous lease holder who also went to wall due to the massive sell off at that time. All that will happen is that these leases will slowly get caught up within the black hole that is the banking cartel only to be devoured at some point.

If this is just a momentary dip before investors flee the USD for the saftey of PM's then future supply will be somewhat ensured. However if this continus for another six months it will be an absolute massacre within an industry that must surely be hurting from the price action of the past six to nine months.

What I think is happening is the banksters are attempting to shut all the exits before the bail-ins start in earnest. Only when production is completely stiffled and the doors finally shut locking out the peasants from supply will they allow the price to rise...and it will be too late for most to protect their assets from the grim reaper. These guys play for keeps, they aren't about to let us find an escape route that preserves our investments and retirement savings.

I just think of us the small minority of lucky ones who saw this scenario coming from afar and positioned accrodingly and while it may hurt like hell now, I suspect we'll be thankfull if not in the near the future then at some point down the track. I honestly feel sorry for a whole lot of people right now, they really don't realise whats coming down the pike...

[gunDriller]

Western Mining Industry in Serious Crisis
By FS Staff 06/19/2013

More Sharing Services Two months ago, resource analyst John Kaiser made perhaps the call of his lifetime on the Financial Sense Newshour when he warned that gold investors should be prepared for a coming washout and correction in the gold market.

His prediction came true and within a week, as many of you probably remember, gold plunged by its largest recorded amount in 33 years. The Gold Miners ETF (GDX), which tracks the price of gold mining companies worldwide, similarly lost around 25% of its value in the weeks following.

Picking up where he left off in the last interview, he now says that if gold and commodities don't start to turnaround in the next 2-3 years, the western mining industry is facing a serious crisis:

The situation has become extremely dire. On Kaiser Research Online we cover about 1800 companies that are involved in the resource sector. As of June 12th, 738 have less than $200,000 left. That’s barely enough money to exist as a publicly listed company…and the inflow to these companies, it’s not happening. In May, we had the lowest financing activity for the resource sector since early 2003…there is no money whatsoever available except in very unusual situations, and then typically on very dilutionary, predatory terms.

>no money whatsoever available except in very unusual situations, and then typically on very dilutionary, predatory terms.

translation - the vulturesque Jews print money and buy mining companies for pennies on the dollar.

[Shami-Amourae]

gold/silver = exploration, mining, energy, labor, refining, minting, handling, scarcity, industrial/monetary use, history

Bitcoin = -0- air, backed by nothing, will not be insured against loss or theft

Not arguing that. I'm saying people will lose their faith in Gold/Silver, and move onto something else. Many people wont want to touch Gold/Silver ever again.

[JohnQPublic]

I want to hit a show or two this summer. I hope it keeps dropping. I like sales. It will be interesting to see if anything is available.

[JohnQPublic]

Not arguing that. I'm saying people will lose their faith in Gold/Silver, and move onto something else. Many people wont want to touch Gold/Silver ever again.

...until the dollar explodes. Then the scrambling starts.

[Horn]

...until the dollar explodes. Then the scrambling starts.

Have you been in the store to buy anything lately?

All that's left is oddball sized clothing that nobody fits into.

Gold & Silver maybe the only market that survives.

[PatColo]

Thursday, June 20, 2013 China Interbank Market Freezes As Overnight Repo Explodes To 25%

http://static6.businessinsider.com/image/4c447ef87f8b9a4d49960100-480/china-bank.jpg (http://static6.businessinsider.com/image/4c447ef87f8b9a4d49960100-480/china-bank.jpg)
It seems liquidity (or counterparty mistrust) is beginning to reach extreme levels in China as the nation's banking system is now quoting overnight repo transactions at 25%. The explosion in funding costs echoes the collapse in trust (and surge in TED spread) among US banks in the run-up to the Lehman bankruptcy. MSCI Asia-Pac stocks are down over 3% with China's Shanghai Composite -2.5% at seven-month lows.

Read more here (http://www.zerohedge.com/news/2013-06-19/china-interbank-market-freezes-overnight-repo-explodes-25)

[gunDriller]

Not arguing that. I'm saying people will lose their faith in Gold/Silver, and move onto something else. Many people wont want to touch Gold/Silver ever again.

it sort of like, if you get VD from a black woman, you tend to avoid black women.

if you got VD from an Asian-American woman, you may tend to avoid Asian-American women.

i call it the "VD theory of investing". but you can't cure it with penicillin or Acyclovir.


however, the notable thing about Gold & Silver is how incredibly vulnerable the market is to the smallest amount of cash inflow.

[Ponce]

As long as I can sell it for $6.56 I don't worry because I made a dollar profit........ with a dollar profit per I can buy a new car, that is to say.....if I was crazy..................hang on guys remember what Ron Paul said....up, up, up.

V

[midnight rambler]

current premium for 90%/junk on feebay is 30% or more.

[Horn]

it sort of like, if you get VD from a black woman, you tend to avoid black women.

if you got VD from an Asian-American woman, you may tend to avoid Asian-American women.

i call it the "VD theory of investing". but you can't cure it with penicillin or Acyclovir.


Stick to drillin guns, gundriller.

My guess is people will run home to what they're most used to.

Some will be petrified when they see what Grandma has turned into.

Red Riding Hood theory of investing.

[mamboni]

Not arguing that. I'm saying people will lose their faith in Gold/Silver, and move onto something else. Many people wont want to touch Gold/Silver ever again.

Only ignorant people might run from gold/silver to the dollar. Because they haven't seen this chart. Perspective is everything during chaos:

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/06/Taper%20perspective_3.jpg

[old steel]

Ammo is the new precious metal.

[Ponce]

Ammo is the new precious metal.

And someday it will be all that you have that no one else has.......I seen it in person......a straight nail is like having a dollar bill in your hand and a bottle of aspirin makes you into a doctor......I'll trade you the nail and the bottle of aspirin for half a roll of tp.

Did you guys see that? silver down $1.49 in one jump....somebody is really scared.

V

[chad]

holy, good lord! good thing a client just paid me; apmex here i come again on my own.

[ximmy]

holy, good lord! good thing a client just paid me; apmex here i come again on my own.

Now you can afford some real metal... :D

[chad]

Now you can afford some real metal... :D

just for you, i ordered high brow JM bars. ;)

[Horn]

just for you, i ordered high brow JM bars. ;)

I'm ordering the Generic (G)@spot.

Wherever that's available, I haven't found it yet...

[gunDriller]

just for you, i ordered high brow JM bars. ;)

pics ? the 100 ouncer (a classic) or some others ?

[chad]

pics ? the 100 ouncer (a classic) or some others ?

http://www.apmex.com/product/43504/10-oz-johnson-matthey-silver-bar-pressed-jm-logo

regu;ar 10's. i have more at this point than i could ever need. yet, i am addicted :(

[Son-of-Liberty]

This must be the puke point right?

[Spectrism]

If it is able to take out $19.16, then it could slip to $18.90. There are many ways this can turn. If it breaks that, we could see $12 range again. Not very likely. But who knows what the evil controllers are doing?

[Dogman]

Call me what ever, I bought into metals about 2008 because I had a very rare phone call, my brother called me in the early am to get out of paper. Long story but it is safe to say I know people on this forum better than my blood relations. I believed him and the next day cashed out all paper and went metal. Took about 2 weeks and I have never looked back.

Silver is a dog, that will shine someday, but It has allowed me to exist over the years because of its price increasing , gold is another story. But combined they helped me get to the point in my life that the gov would need to burn before I will.

I cashed out and turned my silver into my mazda 3 car before it fell into the twilight zone(The metal) Because of pm,s price points I made it to where I am. Now I do not give a tinkle, other than I will buy again and ride the silver bullet and gold whore as needed. Still holding but now not so important as it was when I was when my life counted on it (living expenses)

If you have the bucks, buy and buy big these metals are finite and there is only so much to go around, (physical)

[ximmy]

http://www.apmex.com/product/43504/10-oz-johnson-matthey-silver-bar-pressed-jm-logo

regu;ar 10's. i have more at this point than i could ever need. yet, i am addicted :(

Those are sweet looking bars, I have some 1's and a 100 ouncer JM... My 100 has the original serial numbered box :) I'm addicted too.

[gunDriller]

http://www.apmex.com/product/43504/10-oz-johnson-matthey-silver-bar-pressed-jm-logo

regu;ar 10's. i have more at this point than i could ever need. yet, i am addicted :(

well, come on, it's a HEALTHY addiction, right ? :)

do you ever think about mixing in some generics, e.g. -
http://www.providentmetals.com/opm-10-oz-silver-bar.html

or would that be like polluting your stack ?

[Shami-Amourae]

http://www.youtube.com/watch?v=AGHYZg2Tp_I

[iOWNme]

Silvershield's take....

11 Things You Need To Know About Silver Right NOW


http://www.youtube.com/watch?v=MDOl2L-8n4U

[gunDriller]

Silvershield's take....[B]

speaking of Silvershield - has he gone Tie-Dye ?

https://www.silverbulletsilvershield.com/media/yourhigness_largecoins_960x380.jpg

that's from

https://www.silverbulletsilvershield.com/

[Shami-Amourae]

Rob Grey at the Mulligan Mint has the dyes (which they designed) and is continuing to make those coins without Chris Duane. Chris Duane is also doing his own new coins through another mint.

[Serpo]

CME Hikes Gold Margins 25% to $8,000!


http://www.silverdoctors.com/cme-hikes-gold-margins-25-to-8000/#more-28273

[Spectrism]

CME Hikes Gold Margins 25% to $8,000!

http://www.silverdoctors.com/cme-hikes-gold-margins-25-to-8000/#more-28273 (http://www.silverdoctors.com/cme-hikes-gold-margins-25-to-8000/#more-28273)


This tells me that they may have two goals or one of the two: A) they want to drive PMs down further, B) They want to make it difficult to buyer physical so they are shaking out the weak hands.

[iOWNme]

$18.76


How low will this go? What is the average cost of mining an ounce of silver?



From Wiki: http://en.wikipedia.org/wiki/Silver#Price


At a May 9, 2013 price of about $24.00 USD per troy ounce,silver is about 1/61 the price of gold. The ratio has varied from 1/15 to 1/100 in the past 100 years. Physical silver bullion prices are higher than the paper prices, with premiums increasing when demand is high and local shortages occur.

In 1980, the silver price rose to a peak for modern times of US$49.45 per troy ounce (ozt) due to market manipulation of Nelson Bunker Hunt and Herbert Hunt. Inflation-adjusted to 2012, this is approximately US$138 per troy ounce. Some time after Silver Thursday, the price was back to $10/ozt. From 2001 to 2010, the price moved from $4.37 to $20.19 (average London US$/oz).According to the Silver Institute, silver's recent gains have greatly stemmed from a rise in investor interest and an increase in fabrication demand. In late April 2011, silver reached an all-time high of $49.76/ozt.

In earlier times, silver has commanded much higher prices. In the early 15th century, the price of silver is estimated to have surpassed $1,200 per ounce, based on 2011 dollars. The discovery of massive silver deposits in the New World during the succeeding centuries has been stated as a cause for its price to have diminished greatly.

The price of silver is important in Judaic law. The lowest fiscal amount a Jewish court, or Beth Din, can convene to adjudicate a case over is a shova pruta (value of a Babylonian pruta coin). This is fixed at .025 grams (0.00088 oz) of pure, unrefined silver, at market price. In a Jewish tradition, still continuing today, on the first birthday of a first-born son, the parents pay the price of five pure-silver coins to a Kohen (priest). Today, the Israel mint fixes the coins at 117 grams (4.1 oz) of silver. The Kohen will often give those silver coins back as a gift for the child to inherit.

[JohnQPublic]

Time to back-up the truck:

5062

[Serpo]

Whoa...............

[Shami-Amourae]

I'm curious if all those gold mining shows on the Discovery Channel will be on this year. I mean I don't see how gold is any bit profitable for all those miners.

[Serpo]

Its not ,south African mines are in trouble below 1400, meaning they are losing money,some at least.

The price is at or below cost of production for both gold and silver in many cases.

This is what the banks love ,buying at cost and they havnt done any work.

[Uncle Salty]

Wow, JPS obviously still have some short covering to finish.

Prices can't stay too low for long as the COMEX and LBMA warehouses would be empty shortly as the Eastern Giants continue to take delivery of physical.

[FreeEnergy]

Wow.

What's the average silver production cost? Gold, I presume, is claimed to be around $1300.

[Serpo]

Total costs to mine silver are much higher than the industry is putting out in their financial statements. With the current low price of silver below $22, the majority of primary silver producers are losing a great deal of money. According to my calculations of my top 12 silver miners only ONE is making a little money.

http://srsroccoreport.com/silver-costs-much-higher-than-most-realize/silver-costs-much-higher-than-most-realize/

[midnight rambler]

More evidence the entire world has gone mad.

[mick silver]

this just show me that the big banks are getting alot closer to backing paper money with real stuff . this low price will let the be bankers take the mines that they hold the loans on at some point because you cannot pay the gas bill at this price

[FreeEnergy]

yes, that's the only logical answer. bankers are taking over the miners.

I guess because they want to prove their currency is worth something too.

[Shami-Amourae]

More evidence the entire world has gone mad.

It's mainly just the West.

[gunDriller]

It's mainly just the West.

true, but ... why is Hong Kong letting London & New York tell them what the price of Gold is ?

on the other hand, it works out REAL good for Hong Kong, because they're buying.


but, in general, i thought the Chinese were smart enough to learn to only take orders from Jews, when it suits their (the Chinese) purposes.

[Serpo]

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/04/20130417_cost2_0.jpghttp://www.zerohedge.com/news/2013-04-18/soft-cost-curves-hard-assets-where-cash-flow-hits-roadhttp://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/04/20130417_cost1.jpg

[Horn]

Those are Gold prices in a Silver thread, Serpo...

Are you trying to make a Reese's peanut butter cup?

[Ponce]

Even if everyone is happy that silver is going down there will be none to be had...... I am only an observer and not a participant....this is fun.

V