monetary freedomOn May 1st, 2011, silver was massacred on the Sunday overnight Globex session.
2 years later, we strike back!

On Wednesday, May 1st, we have the opportunity to come together, and possibly break the Matrix!
On May 1st, they will hear us loud and clear.

Commit to buying silver on May 1st…but not just a normal purchase. We need to sacrifice.  Sell something.  Cancel a few restaurant meals.  This is our freedom!



May 1st


May 1st

  1. What will this hope to accomplish?  Take all the silver products off the market for two or three days until more are manufactured?
    Really want to make a stand buy April delivery paper and do not sell.  Open interest is only about 10 contracts, even a few contracts would really make a splash and invert the market.

    • OK Mary, tell me how buying up all the physical supply for one day does anything?  Buying even a couple contracts of April delivery paper has an impact.  Total volume today was only 7 contracts.  I bet on Monday it will be even smaller.  With an open interest of 11, buying one contract would mean buying about 10% of the total market.
      Now even better, don’t sell your position and guess what… you have physical bars you can put in your own personal vault, under the bed, wherever. 

    • @mikeyj80 : you know this isn’t an either/or situation.  Granted, nothing would scare the cartel more than having people standing for delivery on COMEX to the point of a general default and cash settlement.  But most people here don’t have futures accounts and they don’t have any desire at all to open one.  They’re average folk buying average amounts of silver.  Don’t chastize them for what they’re doing, because they’re just trying to protect themselves and, in the long-run, as the supply of physical becomes more constrainted, the end-game will be the same.

    • @mikeyj80 Harvey Organ has said in the past that stackers are performing the most important function in defeating the paper manipulators.  He said that the deciding factor in all of this will be in the physical market.  The comex is hanging by a thread right now.  As long as the day traders show up at the comex to go long then so will I.  I’ll keep stacking physical.  

    • @Flying Wombat, understand and respect your post.  I still don’t see what this accomplishes other than keeping premiums high for physical silver as everyone rushes in at once.  Dealers sell out for a day, order more, then we go back to normaly.  Over time premiums will come down, provident is selling generic rounds right now for spot +$2.  People will find ways to arbitrage the paper/physical market (if they in fact can’t find willing sellers in the cash market).
      A price drop when comex stocks are at ten year highs doesn’t feel like manipulation to me, it seems like a logical response.
      All that noted, I don’t argue with anyone who does want physical today.  I always remind people (including myself), would you rather have $10 premiums with $24 silver of $3 premiums on $35 silver, etc etc.

  2. I thought it was obvious. The paper price is disconnecting by itself – not because of phyzz purchase but of paper selling. You buying Silver may or may not create a shortage, but a shortage has nothing to do with the SPOT price. This has to do with Stock and Flow. It’s all about the Flow… and that flow of paper AG is abundant. The price will continue to drop – no matter how much, or how high a premium price you pay. Paper Silver is worthless – this is where the marketplace is headed. Buy all the silver in the world – you won’t break the Comex – the paper market is that large. No one takes delivery – you are all too small. Sorry.

    • Beaver,
      Yes the market is a total sham, but the COMEX still has obligations to provide physical metal. To say “no one takes delivery” is incorrect. Yes, very few do, but the big buyers that DO take delivery expect and demand that metal to be there. The COMEX can be broken and is being broken.

    • That is my point above, buy paper, stand and take delivery.  That will have more impact than buying up some measly quantity of rounds and bars.  Take them off the market for one day blip, then supply will be back in 2 weeks when orders refill.  No one will notice.  Buy paper and stand for delivery – people will notice.
      Buy in the April contract where there is no open interest, even a few contracts will be noticed.  Buy in June, nobody will notice.

    • You guys should read the rules of the CoMex yourself, instead of believing every SilverBug poster:
      From this article:
      “Do you really think COMEX is concerned about a physical default? According to their very own rules, they cannot default since they can settle in cash. This is the fact of the matter regardless of the importance that some analysts place on physical COMEX inventory.”

    • Where does it say in the rules they can settle in cash?  I’ve read them many times and don’t recall seeing this.  I recall that a warrant for 5x1000oz bars +/- 6% are deliverable in satisfaction of a comex short.

    • Wow $100 per roll!  I have been in 3 cities over the past week and $80 per roll was common.  I found a shop near DC selling Morgan’s for $20 and barber/Franklin halves for $8.  Not a single shop seemed low on supply.  Most guys said they held supply for a few days to see what was what price they all said they were flooded with people selling and started selling once they were overstocked at the lower spot price.

  3. OK, Jiggy, we get it.  Where you are is awash in silver.  Not so in many other places.  It is probably easier to score hard drugs in most places than it is to score hard money.  Charlie got his dimes for $100 per roll.  Not bad.  If there were any rolls of dimes for sale around here, I would be happy to compare prices.  But there are not, so price is irrelevant when supply = zero, which it does here.  Heck, I even found a few boxes of AK ammo to buy last week, so got 6 boxes.  That’s more ammo availability than silver availability.  If I want to buy, it has to be from an on-line vendor.   Texas Precious Metals sold out of 15,000 ASEs or Maples, I forget which, in 4 MINUTES.  Doesn’t sound like they are awash in silver either.

  4. I see just today that technicians at Credit Suisse and Merrill Lynch are calling for another huge sell off in gold and silver this summer. They are talking about $1250 in gold and $17 for silver. They must know that another orchestrated take down is in the works and they are tipping their clients off ahead of time. 

  5. Taking delivery of 5 x 100oz Johnson Mathey on Wednesday, and ordering another 5, (as it happens on May 1). Sorry Doc I can’t order from you in Singapore, so I have to buy local, but I’m on board with this project.

  6. Sounds good to me.  May 1 expected delivery date.
     I bought 200 oz silver on the imfamous  magic plastic and traded 20 oz of American gold eagles to Doc using his new trading service.  Gross total silve acquired—about 1,350 oz.  The GSR hit my magic number of 60 to 1 and a tad more. Dane gave me a little over spot on the gold, better than my LCS.  All other pricing was the norm for SDB

  7. I think the big joke going around is that people are stupid enough to pay the 25% arbitrary dealer markup on silver. I say the LCD’s will be the weak hands. Do not buy from them at 25% markup. After a few months at 20.00-23.00 for silver, they will have to sell to pay their bills. They will be add a small realistic premium of 1.00-2.00 over spot. That is when the strong and long hands will buy. It will be a buyers market, folks. They got greedy and got burned. Hold, hold, hold, hold, hold, on my order, hold, hold, BUY at 1.00-2.00 over spot!

    • I don’t think that the mark ups are dealer imposed, but really a supply shortage in small ounce silver, I think people will either arbitrage the paper/physical market or cash sellers or producers will sell at these levels, especially if silver is truly a byproduct of the mine.  Provident just listed a bunch of rounds for a $2 premium.  Things are coming back to reality.

    • I can wait longer than they can. They will have lower premiums up and down the chain. I will not pay 25% over spot at all. They will have to sell eventually, at our price…they have bills, too.

    • To say that premiums are increasing is just another way of stating that the paper and physical markets are diverging. It’s what we expect to happen, and it’s what we want to happen. This isn’t necessarily greed on the part of dealers – it is the forces of supply and demand asserting themselves in a real market in the process of tearing itself free of a manipulated market.
      When PM mania hits the general populace, silver and gold prices will rise sharply, massive queues will form, and eventually dealers will shut up shop, either because of lack of stock, or because they too want to hold onto something tangible. 

    • When you get big moves in the futures mkt it sometimes takes time to see the cash market reconverge.  Provident metals new offering rounds at $2 premium, and won’t be long until many others are as well.  I am confused though, why would you want divergence from the futures markets?

    • Mikey, the aspect of the ‘paper’ markets being rigged has been well covered by experts on this and many other forums, so I won’t go into that here.
      As to the divergence question, it is sufficient to state that the PMs will eventually assert their true value when the paper market rigging mechanisms break down. At that time, the ‘price’ of the real thing will completely diverge from the paper market price. As a stacker, I want this to happen. It’s the whole reason for stacking in the first place.
      Most people call this difference between paper and real PM prices as ‘premium’. I call it true price discovery in an efficiently operating market (which is currently not what we have but hopefully will soon).

    • Thanks Speros, i call the difference between futures and cash a ‘basis’ but I think we’re saying the same thing, in a market where silver supply is less than demand we see higher basis, and vice versa.  I still remain confused by the divergence issue, won’t you always have convergence with a physically delivered contract?  If the physical is not available to a short they have to get out of dodge or buy the physical from a willing seller, this will cause the paper market to go to a price where it finds a willing physical seller, the same as what you allude to.  I understand if one were to see a run on the paper market you might be concerned all the silver available wouldn’t be enough, but today open interest as compared to the supply in registered vaults (not total supply, just supply that could be delivered in satisfaction of a futures contract) is only about 4.5 to 1.  Most of that open interest is not in the spot month.
      I stack for a bit of diversity, but I don’t want to see a complete disconnect, if some short needs to be covered I will always have a price I will sell or trade.

    • Also, iI really struggle with the whole idea of paper markets being rigged for every buyer there is a seller, and for every seller that sells, they eventually need to rebuy or make with the physical.  We are seeing strong demand for silver from stackers as clearly seen by high premiums, but there are obviously sellers at these prices as well, how else would provident be offering $2 premiums on rounds?

    • Mikey you have far more technical knowledge than I do on this market and how it all operates. I don’t really understand futures, OI, COT and all that.
      I take a simplified approach in just being a silver saver, as my way of sticking it to the market manipulators. I watch what the COMEX spot price is doing, and if that translates to an attractive price at my bullion dealer’s then I buy physical silver and take immediate delivery. I’m not at all a trader. The only time I will consider parting with any silver is in exchange for something of value that I want, like property, food, rent etc. What I am describing is a future scenario in which fiat currencies have lost value massively, and precious metals have increased in value massively against other asset classes, such as property.

    • Welll Speros, I agree with you on the end result, just take a different approach, that’s why I’m here, just want to open my mind a bit.  I don’t think of it as sticking it to anyone, I look at it as protection for myself and family if the main currency loses major value.  I agree with your last sentence and that is why I invest in physical silver and gold.  I don’t doubt the efficiency of markets, and frankly welcome them… for what if the people who really want to buy gold are in Asia or India?  With a global market holders in the states or Canada get some benefit of that demand.  If there is no market, private banks will be the ones who participate and scalp you and me for the physical.
      I absolutely endorse the ‘attractive price’ philosophy.  If you’re in it for the long haul than disregard premiums (assuming you are not paying for numismatic silver and gold).  I think we’d both answer the following question the same:  Which is better… $24 silver with $10 premiums or $35 silver with $5 premiums?

  8. This is the way I see how we can make a difference.  We, the stackers, small, medium and large, hit the market for 200MOZ or more a year in silver.  China and India account for about 40% of all silver consumed. They stack too.  The worldwide supply is somewhere between 700 and 800 MOZ   Demand is somewhere between 1-1.2 Billion ounces.  The industrial and commercial needs are pretty much irreducible. I’ve read that 50% plus goes to that category on a international level.   The silver feeding frenzy is about us now.
    If there is a 200MOZ or greater shortage and I have read it is something on the order of a 30% spread,   those numbers add up for now, every ounce bought from fresh supply is an ounce less that what reposes in the COMEX, LBMA and the sketchy SLV.  There is a vast gap between supply and demand which has hit a critical point 
    Soon this gap will force silver from stocks held in anticipation of a price spike.  When that elusive someone pays waaaaaay more than $25-30 an ounce to get people to cough up their silver arrives, then we will see some action.  The mines are taxed and maxed out now, unable to produce more silver in short order.  The commercial needs will not subside.  The hundreds of millions to billions of ounces held in small and large private hands, maybe twice the annual production, will sell but not unless the prices rises considerably. 
    Everyone has their magic number, the price at which they will sell. I have mine and mine will be driven on the decision of whether to sell a little for life style purposes, a lot so as to rotate to another asset or all and  get into a completely different venue.  I can make the decision then.
    It is supply and demand and a price point that brings the market into orderly balance without the hyperbole and illusions of those who play a wholy different game than us.  Markets and the laws of entropy, conservation of order and the natural balances that have influenced the prices of gold and silver will weigh in soon enough.  The Poem IF, bears repeating
    ‘If you can keep your head when all about you are losing theirs’——you know the rest and if not, google it and read the entire poem. It will give you great courage and fortitude.  Cheers

  9. Weak hands, be very careful in what you are into!
    Yes, we will fight back on May 1st… but when will victory be seen? And will there be victims during the fight? And will you be one of the victims?
    Have a safe trading.

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