Gold & Silver Popping on LTRO/ New Easing Rumors

 Live 24 hours gold chart [Kitco Inc.]Gold and silver are catching strong bids this morning on rumors of imminent new easing/ LTRO in Europe.
Silver has run as high as $28.67, nearly 10% higher than yesterday’s lows near $27, and gold has traded as high as $1579 this morning.

Remember that today is May gold options expiration, but it appears the worst of the damage was sustained throughout yesterday’s trading in the day prior to expiration, as has been the pattern in recent months.
Rumors are indicating the ECB will cut rates, and potentially announce 1 year LTRO’s at the ECB’s July meeting, with current LTRO programs being renewed at the June meeting.

QE MUST and WILL Continue to Infinity…AND BEYOND.  Gold and silver offer you the best protection from the currency devaluation that will result from infinite QE.  The current gold and silver deep discount bargain racks may VERY soon be ending.

Live 24 hours silver chart [ Kitco Inc. ]

 

Live 24 hours gold chart [Kitco Inc.]

Comments

  1. I am not saying that I called the bottom or anything like that, but was happy to pickup a couple of tubes of Silver Maples yesterday when spot was 27.28.  It’s like Thrift Store shopping at these rates :)
    PhilAZ

  2. No privet sector worker = no taxes = no union government workers = even less taxes = no government. I can’t wate for our government to tell us we have to be working or were braking the law. Maybe this depression, as a side affect will give us a small government.

  3. Sorry wrong post above.

  4. Up today, down tomorrow… That’s what we have been seeing so it wouldn’t surprise me…

    427 I have had that very thought for a long time now… Was wondering when they would make it law that everyone was to work and pay tax… Just like back when the revolutionary war started… Geee Across the pond forced everyone to pay tax and the states rose up… Could it take the same thing to happen now? Or does it more resemble a communist state that you do what we say, you like what we say, you have no say?? Well golly…. Seems to fit both doesn’t it…

    Stack while we are allowed kids… It could make the difference of surviving or not…

  5. Wrong post but still makes sense!!

  6. Danno,

    “Or does it more resemble a communist state that you do what we say, you like what we say, you have no say??”

    This one, Work for the country and maybe you can have some food and you will eat better in the military.

    That post was to be in silver update, I did put it there.
  7. lol This is why I’ve written in a previous post that something huge must be going down behind the scenes if they’re so desperate to push silver down. It must be because of all the easing, condom slips (sorry I meant CDS losses) and what have you. Yes, pump the patient (or porn star) full of antibiotics, increase the dosage a million fold, as if that is going to solve anything in the final equation. What a bloody circus and to think that all of us are going to feel it’s consequences in the real world to at least some extent sooner and/or later. I cannot help to think that the moment to “lock and load” is creeping closer and closer, the time when one’s ability to survive will be determined to some extent by one’s ability to sleep with one’s eyes open.

  8. I’m not getting excited over this so I’ll take it one day at a time and I’m still stacking.

  9. Arbeit Macht Frei.  Words on the sign above Auschwitz concentration camp. ’ Work will set you free’

    National Defence Resource Preparedness executive order signed April 13.  All national resources, including YOUR labor, can be required by the STATE.   Yes, if the order came and martial law was imposed, we could find that our labor and work efforts c required and forced by the state.  In Germany during WWII German citizens were required to work for the state in  laborious jobs deemed in the national interest—or that person did not get a food ration card.  Germany was one of the most civilized, literate, educated and wealthy nations in the world in 1910. By 1919 they were defeated and bankrupt  Within 20 years the German army marched on Poland and the German people were made slaves of the state.  2o years later they were an economic powerhouse.

    Could it be tried here?  Absolutely.  Would it succeed? Questionable at best.  People on food stamps, all 46 million of them, would be the first target. But there is that annoying inconvenience.  150,000,000 firearms in the hands of 100,000,000 Americans. Hitler disarmed the citizens before he lowered the boom on them.  US,   maybe not so easy. I could be wrong, but I think we would never permit that here.

  10. Alot of people may give up there arms or be to scared to disobey a disarm order… But I for one know there will be just as many that are gonna say fuck this… I rather die knowing I’m standing up for my god given rights to protect myself than be herded around like cattle having a miserable dead end life crammed down my throat… And it’s a fact that I’m NOT alone!!

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