silverIn the words of TurboTimmy!  Welcome to the recovery!

  • NFP: +236,000 on expectations of + 165,000
  • Unemployment rate drops to 7.7% on expectations of 7.9%
  • Gold & silver FLASH SMASH in progress

2013 Silver Eagles As Low As $2.59 Over Spot
2013 Silver Eagle


And if you believe these numbers, we have a bridge in Brooklyn to sell for cash…

Silver flash smashed to $28.26 on the release:



Gold flash smashed to $1560:



  1. It’s not the unemployment numbers or the cartel that caused the drop this morning… is the SLV and GLD buyers realizing that what they are buying is just paper…..worthless paper! It’s no surprise that the worthless paper is cascading downward while the phyzz is getting more scarce and more expensive. The paper buyers just woke up is all….. 8?)

    • SLV and GLD buyers have ALWAYS known that their investment was in paper.  That’s what they WANT and that’s what they are getting. They like paper.  It is easy to buy and sell with a few mouse clicks.  It can be sold short or bought as a future.  It requires no storage or insurance.  All they want is a paper investment that tracks the price of gold or silver.  That’s all.  They have no expectation of and no desire for ever converting their paper investment into physical metal.  Except for the big boys, of course.  Those who own 100,000 or more shares of these ETFs can get metal for their shares, if they want.  We small fry cannot.
      Unfortunately, these days, these mega-ETFs don’t just track the metals prices, they are used by unscrupulous people to set them.  This works well for the paper holders but not so well for us metals holders. 

    • Marchas45, I’ll admit to watching it, more out of fascination than anything else. The disconnect between reality and this fantasy world is just amazing. Tiger

  2. I wouldn’t quite call 40 odd cents a smash.
    Anyway, when they do smash for real, then I’ll grab with both hands.
    JPM are just digging a deeper hole for themselves, hell, I would like to give them a big JCB/Caterpillar digger for free to help them along.

    • If you are taking a long term view Mr silverballs now is probably a good time to pick up some eagles.  Oh, maybe not.  I am just jealous that you are about to buy with both hands.  Be patient.  Hope you can pick up a couple of monster boxes.

  3. There is plenty of physical out there.  If you go to Provident Metals right now you can get 2012/2013 ASE for around 32/oz.  You can buy a monster box of ASE and pay less than 32/oz.   You can buy silver maples, even bisons or antelopes, for less than 32/oz.  They also have plenty of gold bullion.

  4. You know, I have been listening to the “Whys and Maybes” of the ups and downs from the Guru postings here on The Doc for quite some time now. The Mights, coulds and Probablys are getting real thin on the travels of both Gold and Silver. Oh Yeah. getting really tired of the articles by the major Silver and Gold Guru’s sitting on the side of the bed and listening about how great things are going to be. Oh and the charts, let’s not forget the charts and what happened in the 70’s, 80’s, 90’s and even further back, such examples don’t even apply in what is going on in the economic world today. Bubbles? haven’t seen one blow since 2007. Like Mullet Duck hunters sitting in a blind as we all sit waiting for the Mallards to land on the pond that may never come as we crouch and wait, and then spot Alligators in the pond. Uh Oh!

  5. The commercials are covering their shorts and letting the stupid specs take their short positions from them.   It’s really a special kind of dumbass that shorts gold at $1560 with every CB on afterburners, massive sovereign and private buying, and already $240 into the decline.    This is bullish for bullion.    And as Jim Sinclair stated, don’t trust the COT figures because they paint those numbers too!   I’ll bet the commercials have reduced their short position more than reported.   That huge short position is there in one part to discourage and scare potential longs.  It’s psychology at work.   I’ll bet the commercials are long more metal than reported as well.  

  6. I am trying to hold back from buying the dip.  My LCS said he has some 10oz bars he is trying to give a way a little under spot.  Many guys come to him to buy a couple ounces but the big stuff just sits for months.  Even the local refiner was selling 5% under spot yesterday, Im interested to see if that is the same when they open in 10 minutes.  I am holding true to this being a repeat of last summer and hodling off any phyz purchases until July-August.

    Guess I missed the dip anyhow.

    • Hey jiggy:  Where the hell do you live?  Can I come and visit and you take me to these guys selling BELOW spot.  I promise to give you a finders fee….

    • I think anytime you can buy at below 30 that is a proven, decent long term entry point.  I wish I knew this at the time I entered the market.  What are the chances that silver goes back to 26 and change?  Maybe 50% probability.  We could see silver go back above 30 with the same probability.  Gotta think about that while you are waiting.  Anything over 30 is not a buy in my mind.  This market is extremely bearish.

    • @silverrrrr – Im on the east coast, far enough from a major city that people dont want to go into the city and close enough they dont welcome outsiders.  It can be nice at times, especially when buying silver.  Even better when scooping up small gold coins from the 1800’s in mint condition 😉

      @Pollokeeper – I guess we agree on the extreme bearish sentiment.  That sways me towards 26 more than 30, maybe 75/25.  I bought enough in the teens and plenty in the 30s-40s that it doesnt matter all that much.  Sold off some of the more expensive purchases and made the loses back on ZSL to make myself feel a little better about the whole thing. 

    • “This market is extremely bearish.”
      Insert the word “paper” between “This” and “market” and I will agree.  Out here in the real world, silver is tight.  Been trying to find ANY US 90% coins locally for the past 2-3 months and have only found a few for sale.  Apparently, this varies all over, like real estate, but around here, silver is in a real dry spell.  I’ve been buying from the big on-line vendors because of this.

  7. Silver actually did no go down. The dollar went up. 
    However, what’s interesting is the huge trading volume that begun at the bottom of the dip and brought the price back to the 28.90 level. Someone seems to be happy to buy lots of silver from the dips. 
    We may well have seen the bottom. 

    • This is what I made of it too. The dollar spiked first and then someone jumped in and bought a bunch of PMs. Only up to the previous dollar price though…  HFTs playing with each other? Sometimes I get the feeling that it is only machines trading with a fixed target in mind since often oscillates with decreasing amplitude until it reaches a mid price at the end of the day. Perhaps I am reading too much into it…

  8. As for increase in payrolls, I bet the pizza places are hiring more drivers for NCAA March Madness.  7.7% unemployment.   YEAH RIGHT!  lol    Even if unemployment did stabilize, the $9 minimum wage proposal will fix that!   That is one hell of a tax on food service and retail.  The effect of a minimum wage increase, especially a large one ($7.25 to $9 is 24% increase in your cheapest worker!) is very very detrimental.   I’m sure I don’t need to point this out, but it’s mind-boggling to think there actually are some people out there jerking themselves off thinking about how good the economy will be.   A min wage increase is definitely inflationary, as stores and restaurants MUST increase prices.   It’s going to be tough for restuarants if food prices are rising too.   You’ll start to see lower quality.   They’ve already done the smaller portions thing. The grade of meat going into many products is close to dog food.

    • Going out to eat is getting less attractive all the time.  Buying nice NY steaks at Costco and grilling them at home is not only VERY tasty but prepared EXACTLY the way we like them.  The cost is very reasonable too… $10 or so for the complete dinner.  🙂

  9. SIlver and gold action?.  WGASA.  
    Unemployment numbers BS  
    When you  count the people who are unemployed, undereployed and given up, the unemployment rate is 21.8%. 
    Big whoop. 
    But  the Sequester Jester wants to make sure we all feel the pain.
    The DOW is up.  There’s a good bet for you. Dive on in.
      Americans net worth increased $1.1 trillion last year.  I feel much richer already. 
    95% of the total 3rd and 4th quarter consumer debt was cars and student loans.  Can you feel the love (of debt)  This is the worst type of debt, inpoverishing students and pushing out subprime auto loans to jack up car sales.
    What’s that saying?  GM is alive and Osama Bin Laden is dead.  UBL may or may not be dead but GM is just another government  zombie junk pile company kept on life support by government purchasing and CCC loans to move channel stuffed cars that few can afford. It has about the same viability as Solyndra.  Just kind of bitchy this AM.  Statistics like this piss me.
    And Silverzgold–you hit the nail on the head.
    $9 min wage will kill the small businesses. 30 states have min wage of $7.25 or less per hour. I ran the numbers on the impact of a 24% increase in wages to a business that works on the margins, like restaurants, janitorial firms and hotels. This will kill the profit of those businesses. When Obamacare hits in full force in 2014, the 29ers and 49ers will turn the US into a nation of part times, if it’s not there already.
    Mark my words on this. Obama will take this tiny blip in the stats and ram the min wage increases so far up the collective corporate keisters that it would take a high colonic and a 20 mile to get rid of it
    Between higher taxes (laid on us because the economy is doing so well), higher wages (because we need to redistribute the wealth (profits)), and free health care (just don’t get sick) the Holder is really going to hit the fan this year and next.

    • Add in banks laundering billions of drug money and getting a slap on the wrist and leaving them with a huge profit for illegal behaviour. No arrests, no one banned from banking, nothing. Our government has gone rogue and needs to be removed.

    • “Americans net worth increased $1.1 trillion last year.”
      Yep… and the Gov only had to spend about $1.3 trillion to make that happen.
      “But  the Sequester Jester wants to make sure we all feel the pain.
      Of course.  This is just local politics writ large.  It’s just like when the local school levy fails and the people running the school district cut the things that really matter to the voters in that area and none of the idiotic BS that they do not care about at all.  This is the “this’ll show’em” technique.  Those who pull this stunt rather than listen to their bosses (the voters) should be replaced ASAP.
      “Mark my words on this. Obama will take this tiny blip in the stats and ram the min wage increases so far up…”
      What I am waiting for is for the corporations in the US to just throw up their arms, scream, “F*** IT!  We’re shutting down until further notice!” and then do it.  It is already so difficult to run a business in this country that I honestly do not know why anyone puts up with all the BS.  Those in politics who are trying to make the US a business-free zone should get just what they want. The rest of us can barter for what we need while we watch the nitwits starve and complain about getting just what they asked for.  GRRR!

    • No, we do not have to accept lies.  Just because the ‘Economic Numbers’ are getting better does not mean the real economy is getting better.  After all, who publishes those so-called economic numbers?  And how are those numbers estimated and calculated?  If we know the numbers to be propaganda, then why accept them?
      It is often said that perception is reality, but that also leads to a falsehood.  Perception is reality only when that perception is based upon the truth of reality.  That is, when the perception is correctly based upon the reality of things, only then can it be said that perception is reality.  But if the perception is based upon lies and deceptions, it is a falsehood and a grand illusion.
      For example, let’s say someone perceives that there is a bridge across a river over which he can walk, when in reality the bridge in fact does not exist (but he somehow perceives it).  When he tries to walk across the bridge, what do you think will happen?  If he lives in the real world, he will fall into the river.  His perception was not based upon reality; therefore, his perception was not reality.

    • Congrats on the purchase.  You got a great deal.  If you still have the dry powder, buy another tube after the next smash.  The price just turned up so I can see that so your timing is impeccable.  In my opinion, the banks want the price lower but they may not be able to force it much lower, we just don’t know.  You are going to look back on the purchase someday with a smile.  Silver is worth 50 dollars per oz right now in my opinion.  We just got to wait for the comex to catch up with reality.

    • Well actually I have a good price source, so I am trying to balance my monthly budget by a bit of trading. Just hope I’ll be better in cash soon to make a proper order again and get my silver back. I take being all-in to a new level, just I don’t borrow to buy, ever.

    • My strategy is to only buy when I can be reasonably sure I will not have to sell for 3 to 5 years.  I have cash in the bank now to cover all short term emergency’s.  Of course, we never know for sure how much cash we will need in the future.  I think it is very prudent to make sure and cover all your food and prep needs as soon as possible as well.  Don’t wait on that.  We are going to begin to see food inflation that is accelerating.  A can of span will hold up for 20 years and is a very good investment.  Wouldn’t it suck to have to sell silver at a loss in order to buy preps?  I consider all cash in the bank to be a sacrifice to the money junky’s who are devaluing our currency.  It is a necessary evil.  

  10. that flash smash was from paper futures shenanigans, not etfs. either way, what a shit show. how anyone can see this as a real market is beyond me.
    For anyone with any doubt. The west is rotten to the core. The wars we are in, are lies. We are the bad guys. The stock market is a sham levitating on artificially low interest rates, printed money and share buybacks with cheap cash. The metals markets are a joke, overseen by the inmates, who are in firm control of the asylum. The economy is a zombie. It’s all a fuc*king nightmare.

    look at that chart, nosedive, then blast off, all to be net + .02 at this point.

    • no kidding.. like the new normal in education, what would formally have been considered retarded is normal. Here what should get people locked up (and killed in places like china or iran – rightfully) constitutes a free market with proper price discovery… lmao..
      Anyone else need a drink! LOL!

    • “Anyone else need a drink! LOL!”
      Oh, yeah!  Just had one… McNaughtons and ginger ale… a double… very tasty!  😀

  11. Umemployment figures are B.S! Majority of U.S workers are working on average less than 30 hours per week. Which means the majority are all part timers. Let them keep knocking down Silver and Gold when the shortages come we will all be the last ones laughing.
    I still see a dow/S&P drop in the near future. (starting around the debt ceiling negotiations ). We will probably see a drop off, maybe 1000 point drop in Dow in the summer, followed by a recovery followed by another more dramatic drop in October IMO. Which will bring the Dow to roughly 10,000 points by years end. With the Fed out of bullet the government will be involved in a new war by years end in order to stimulate the economy.This war will bring the Dow back up to 14/15,000 points(C-D) then we will see a major stock market drop within 3-4 years. Bringing the dow under 8,000 points(2016/17).
    I also believe within the next 3 months Bernanke will Bluff a date to higher interest rates and/or stop QE, but this date will be rescinded by the new Fed chairman in 2014. I am thinking he will make such an announcement on May 1st 2013 after the two day FOMC meeting. Why? Because he wants to knock down Precious Metal prices some more before the Debt Ceiling Negotiations. I believe Silver will drop under its resistance level of $26 per ounce and Gold under $1500 when this announcement is made.
    This summer is going to be really interesting and confusing to many. It will separate the men from the little boys who will cry about their Silver holdings. But when the new war starts Silver and Gold will jump to new highs within a matter of months IMO.

    • “With the Fed out of bullet the government will be involved in a new war by years end in order to stimulate the economy.”
      Maybe they will be trying a civil war this time, rather than having to deal with all those foreigners?  They have the drones and the ammo for it… but do they have the balls?  If they lose, there will be no grandiose forgiveness surrender deal.  It will be heads on pikes in front of our lodges.  >:-}

    • @Ed_B hopefully we can avoid a war all together. You never know it could be both a civil war and a foreign war at the same time. Our government are going rogue. The US may start a war without congresses approval and this might set in motion a civil war. But right now I believe the next war thats coming will be all about resources. I dont see a civil war because civil wars need leaders and leaders will get assassinated. 

    • “hopefully we can avoid a war all together.”
      Every civilized person hopes for that.  War is a tragedy foisted onto the people of both sides by incompetent leaders who are not smart enough to solve their country’s problems in a civilized and thoughtful manner.  Yes, fighting people like Hitler was necessary but if he had not chosen the path of war, none of WWII would have been necessary.  He chose poorly.
      “You never know it could be both a civil war and a foreign war at the same time. Our government are going rogue.”
      Agreed.  They are a rogue group and seem to be getting worse with time and not better.  A simultaneous war would be most confusing, so if that is their divide and conquer goal, it seems likely rather than merely possible.
      “The US may start a war without congresses approval and this might set in motion a civil war.”
      They seem to have made a habit of fighting wars without declaring them.  We very much need a constitutional amendment that prohibits American troops from fighting on foreign soil without a specific declaration of war.  We also need a law that requires a 2/3 approval vote by the congress to commit American resources to ANY war… and to “foreign aid” of any kind, for that matter.  Given that many people here in the US are suffering financially, the reasons for giving away large chunks of tax money to foreigners is seeming dumber all the time.  The latest arms to Egypt deal is revolting.  We should tell them that our deal was with their previous leader and that deal is no longer in force.
       “But right now I believe the next war thats coming will be all about resources.”
      Agreed.  As the world’s population increases but its farming, mining, timber, and fishing resources do not increase to match, there will be those who are priced out of a rising cost market.  They will get hungry, then frustrated, then angry, and then violent.  The truly frustrating part of this is that it is completely preventable.  By applying sufficient brain-power and resources to the world’s problems, virtually all of them could be fixed.  But some would rather do it the old fashioned way by killing others and taking their stuff.  After more than 10,000 years of this behavior, it really ought to be time that we out-grew it, as a species, and become adults.
      “I dont see a civil war because civil wars need leaders and leaders will get assassinated.”
      I am wondering if such leaders would have to be national in their authority or possibly just the emergence of many local leaders instead.  It would be much more difficult for a central gov to deal with a loosely associated group of militias, for example, rather than one central opposing authority.  I can see many such groups forming around a core of their county sheriffs.  They might not be great on the offense, although some of that could probably be arranged, but would be pretty tough on defense.
      In a civil war scenario, it might be more effective to starve the gov into submission rather than trying to fight them with military force.  The essence of victory in battle is to throw one’s strength against the weakness of the enemy and not simply get into a slug-fest that would favor them.  In this case, supplies of food and water would be more vulnerable than US troops.  Many Americans, and supposedly US troops as well, would not want any part of such a fight.  If the gov tried to force such a confrontation, it could very well fracture the military and really cause them problems.
      The bottom line for many of us is still the same, however, and that is, how do we force the gov to become aligned with the constitution in actions and not just in words?  My thought is that, flawed as it is, the elective process still works in some places.  We need to use that to our advantage by electing people who love their country and their liberty more than they do any specific party or special interest group.  The sad fact is that in many cases the best people for these jobs in government do not run for office.  We need more of them to do that.  We also need more vets to run for office as they have been there and done that, so they know what the real effects are of gov incompetence.  This IS a great country, in spite of the best efforts of some to drag it down and it is great because of its people.  There is real strength in this country and we see it all around us, if we just take the time to look.  Yes, there are many problems as well but we need not focus only on them.

  12. I do know this in visiting with many dealers. Scrap gold ,silver , jewerly coming into shops is still slowing down. Most have sold already!  Alot of coins coming into stores is from estates & inhertances but again for the most part wanting fiat for everyday living which is inflating.

  13. This employment report is nothing more than a great big lie. The jobs created were pretty much all part-time jobs…the full time jobs actually decreased by 77,000. Not only that, but most of the part time jobs were from people that ALREADY had a job, and took additional part-time work. I read this in zerohedge, but checked it out on the official BLS website, and it is in fact true. Also, the BLS also added over a 100K jobs using that infernal birth-death fantasy model. To top it off, last month job gains were revised down from 157K to 119K…what else is new…..what a scam.

    • Yeah, I can see it now… two feds talking… one says, “Well, we lost 28,400 engineering jobs last month, but we gained 56,800 half-time food service workers at McDonalds, Burger King, and Carl’s Jr.”.  Second fed says, “Yeah?  Sounds as if we just about broke even.”
      Right… got twice as many jobs that pay about 1/4 of what the jobs that were lost paid.  Such are the games that people play with numbers.

  14. So after all this froth and bullsh*t, do we hold 29 or not.. what a joke – lmao..

    hey great non farm payroll news, after last month’s major downward revision, this months loss of many full time jobs, and a majority of new jobs being low quality and or part time – and a significant percentage of those jobs going to people who ALREADY had a part time job. And, the labor force participation rate continues to slide.

    • FLASHBACK!  It’s 1989 and virtually everyone in the USSR is waiting patiently for someone else to create or build something that they can all then share.  Such dysfunction is the material of collapse.  I find it strange that such an obvious lesson just HAS to be repeated before people “get it”.  🙁

  15. Shazzam, right back to $29 on the nose.  What a demonstration of chutzpah.. They could not care less that everyone sees their fraudulence.  Now that’s power.  Some billionaire should screw them over just for the fun of it.  I would if I had the dust.

    • I believe that most billionaires believe that stackers are nuts.  They made their money on stocks and thats where they believe in investing their money.  Stackers are contrarian thinkers.  A rare breed.

    • “They made their money on stocks and thats where they believe in investing their money.”
      Yep.  On the other hand, a lot of millionaires did too.  Fortunately, some of us can think outside that box, be contrarians, AND buy PMs.  🙂

  16. If you are going to stack more, just wait till the stock market crashes a few thousand points and Gold and Silver go with it. But alas buy quickly as Gold, Silver and many other commodities will skyrocket. The Fed cannot keep propping up the market for too much longer. Europe’s unemployment is rising daily. Believing our economy is improving is a fools game. I will believe Shadow stats unemployment figures before I believe the Bullshit artists in our government!
    Sitting Tight with all my might here in Texas!

    • “I think that as metals go lower the premiums will also go higher.  Its going to be a catch 22 situation.”
      They might.  Just as do home prices when interest rates rise and fall… the higher rates go, the lower the lower the price goes, and vice versa, making it all pretty much a wash.

  17. Employment statistics are horse hockey!  These shills believe people are finding work AFTER their benefits run out.  They are not a statistic any longer, that’s all.  They have not found work!  Those that have are under employed or working PT.  Unbelievable!  While I am at it…the majority of the idiots running this program have not, or could not hold a job in the private sector.
    Let’s face it, many of the jobs created are FED jobs.  How many tens of thousands of jobs has the FED added since August of last year to boost the employment numbers prior to election?  Quite a few, check the facts.
    Just wait till ObamaCare finds another gear in 2014.  FT employees with med benefits will suddenly find themselves working less than 30 hours per week.  The FEDS were trying to insure 35 million people, by the time they are through, I would wager, the number of uninsured will be two to three times that number.  WHO will be able to AFFORD insurance (or pay your fine/tax) when your broke?
    We are freaking TOAST.

    • The way that O-Care is working out, I really do not care if I ever visit a doc or hospital again.  It’s a huge scam.  My grandparents were probably seen by a doc 5 times in their 80+ year lives and two of them was at birth and death.  They got along fine.  For those who don’t, well, that’s why folks go to church.  It is what it is, as they say, and no amount of kicking or squealing will help a bit.

    • No, THERE IS NO RECOVERY.  This is so because they have not addressed the systemic problems in the economy.  They are too busy scratching at the surface to notice that the REAL problems are down deep where they are not even looking.  The number 1 problem being that we simply have too much government.  It is hogging up a lot of the resources to do unproductive things while the productive economy is starved for capital and the freedom to be productive.  But we sure do have a lot of nifty new rules and regs to live by as our economy slides down the very stylish Keynesian toilet.

  18. One interesting fact about high paying job losses like those engineers, sales people, technical folks, teachers, government employees, cops and yes, even the highly paid bankers.  Let’s say these people make, on average, $100,000 a year.  They make the equivalent of 5 $20,000 workers each making $10 an hour.  It’s no wonder Obama wants the min wage raised to $9  His piss poor math makes him think that the government will be a larger share of those wages.  The problem is that most people making $20,000 a year either pay little or no taxes due to deductions or may even get a Earned Income tax credit, which means they pay ZERO taxes except for payroll taxes.  The $100,000 a year person not only pays about 35-40% in state, fed and payroll taxes but they spend their income, booting up the economy.  If the Obama min wage goes up to $9 a hour, this will have a huge drag effect of the net profits of the business owner.  That entrepreneur can’t just automatically pass on the cost of higher wages, as much as the CEO of Costco thinks that the $9 min wage is a good idea.  Collectivist asshole supports this idea. 
    The average business owner will have to eat most of the wage increase, thus reducing his net taxable profit. I’ve reviewed thousands of business tax returns and can say unequivocably that when prices rise in an inflationary economy like ours now, the business owner cannot increase prices to stay ahead of the cost bumps. Min wage is a 24% increase.  The business owner will see his profits drop and, like the highly paid employees who are losing their jobs, the businessman or woman will end up sharply lower profits. The government tax receipts will be signficantly lower too.
    So in a spasm of wealth redistibution, the income earners will get less, the business owner will make less and the government will take in less.  And we all slowly sink in the dinky little rowboat filled with leaks.  Ain’t that special!

    • “That entrepreneur can’t just automatically pass on the cost of higher wages, as much as the CEO of Costco thinks that the $9 min wage is a good idea.  Collectivist asshole supports this idea.”
      Costco is a mega corp and not a “small business”.  Their business plan literally gushes cash, so paying 30-40% more for wages does not do a lot of damage to their bottom line.  Many small businesses are barely making it now.  Add in this cost and a lot of them will simply lay off employees or go out of business altogether.  It is not a choice if the money to keep things going simply is not there.
      “So in a spasm of wealth redistibution, the income earners will get less, the business owner will make less and the government will take in less.  And we all slowly sink in the dinky little rowboat filled with leaks.  Ain’t that special!”
      It sure is, AG.  We will be creating a North Korea style egalitarian economy this way but we sure will feel good about ourselves for being so damned generous with other people’s money.

    • Nice post, man.
      As soon as government bureaucrats meddle in anything, the red ink begins to flow.  The founder of the Subway sandwich chain said he could not start up the company today, it would never make it. These arrogant meat-heads think they understand how a gigantic, multifaceted economic system works to the point they can arbitrarily change key factors, and the intended good will result.
      No, America works in spite of their efforts, not because of them.  Frankly I’m surprised at her resilience, what with all their ham-handed interference.  Americans can absorb a lot of abuse. 

    • I would be willing to bet a good part of my stack that very few of the boneheads in congress or the white house could run a hamburger stand for a year and make a profit.  Many of them have zero business experience and are relying on the socialist economic drivel from their Keynesian econ professor.  One thing, though, is that this would be one helluva good way to open their eyes to the obstacles they have placed in the path to success for all of the small business folks out here.
      Jamie Dimon may be many things but an idiot he is not.  I just loved it when some months back, he asked Bernanke how many regulations were enough to get the job done and whether or not anyone had considered what all these regs do in combination.  Bernanke had that deer-in-the-headlights look that said that he had never even considered either idea before. The unsaid implication of “well, why haven’t you considered that” was pretty clear.

  19. Even if gold and silver’s prices are going down in terms of dollar, the physical supply is getting rarer and their premiums are rising. At one of my local coin store, there aren’t anymore silver bars left because they have a low over spot price and also, the premiums have been raised. I don’t think that the unemployment numbers have anything to do with precious metals’ prices drop.

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