Another day another waterfall decline for silver as the metal just dropped 70 vertically to $30.37 as 90 million ounces of paper silver were dumped on the market as the cartel attempts to induce a $20 handle for silver.

*Update: 2nd wave in progress as cartel pushes for $29 handle in silver, 4 year uptrend line since 2008 at $30.50 has been broken to the downside.


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Latest vertical smash in silver:



After 3 attempts, the cartel has finally pierced stubborn support at $30.50 and the 2nd leg of the raid appears to be getting underway:



And the 2nd wave attempting to induce a $29 handle:



Meanwhile, the HFT algos have been gunning gold away from strong support at $1650 towards $1630:



Stack the smack!!


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  1. It is getting harder to talk stack the smack or buy the dip, when there is no impending recovery. I won’t be in any hurry to back the truck up ever again. Every couple of weeks, a few coins. I’ve got my position and am averaged just under 30, buying the same dip for the last 18 months.

    • BTMFD.  Pay bills in paper.  Everything else in PMs, BMs, RE, Ammo, Food.
      Don’t get discouraged – its all priced in increasingly devalued USD$
      Get a coin comparator and start sorting pre 82 pennies before everyone starts doing it.

    • I am not sure if “the boyz” are really this good at keeping their fingers on the pulse of the physical silver market without blowing themselves up, whether they are this stupid or whether they are this desperate?

      Anyway, this is just great as I am going to see “my guy” who has a sh*t load of junk silver for sale tomorrow!

    • I managed to catch this one early and ordered a tube of Maples from my local Singapore dealer. Almost just did it again, but managed a little restraint. Maybe we’ll see $29.xx again soon…

  2. I am trying to figure out why they are doing this.  Anyone have a clue?  My thinking was that they would just maintain a cap on 31 dollar silver.  Now they want the price down below 30.  What is the strategy?  Is this just continued desperation?  An attempt to shake out the weak sheep who decided to enter the fray?  They have already made their point about who is in charge of this goat f%$K!  Maybe they just want to cover some of their older short positions?  Who knows?  Stackers will just stack and stay the course.  We are used to this non sense by now.

    • I don’t think that the market will allow a dip into the mid 20s without a larger market crash but I could be wrong, if it goes there my guess is physical may not be available at those prices. I loaded up last summer when I was buying maples at 30 bucks in late july / early august. I’ve added a fair bit since then too between cougars, polar bears, more maples and some sbss units. IF I buy every second paycheck then that is fine. Let’s be honest, if you’re buying 10-20 ounces a price swing of a buck or 2 up isn’t the end of the world. the BTFD to me is a mantra people say to make them feel better when they realize that the cartel is in firm control.
      We’ve all done our jobs. My stack (and yours and all of ours) is larger than the vast majority of the world’s citizens. It’s time for me to slow down and wait for the prognosticator’s predictions to come true. If the news is that bright for silver then it will shine soon enough.
      I keep telling myself midnight is where the day begins. People who are smarter than I am say they’ve never seen any shenanigans like this, so I can only expect the music is slowing down and hopefully getting ready to stop. I know we’ll be right. That pesky timing thing is the real bitch.

  3. $20 handle??!!  Do you really think we could get a gift like that?  I’m getting a huge refund check and would love to turn that paper into white and shinies and drive my dollar cost avg way down!  I’m expecting it to consolidate 30.50 to 32.00 for a couple more weeks and then the next major move up will start.

  4. Good questions everyone. It’s the continued grind to get rid of the weak hands.  I agree it could go down to the mid-$20’s but we’ll see more divide between paper and the phyzzzz prices.  
    It could also be shock-and-awe to try and slow down the silver sales which set records in January. 
    The telling sign will be if the Squid (commercials) load up on more shorts end of week.

    • the whole idea of weak and strong hands is fine, but it falls apart IMO because it is within the futures market paradigm.
      Paper price should not be the price discovery mechanism for metals in my opinion. That being the case, any talk within that framework is limited in its value to academic theory. In practice, the paper market has to break. Until then, we’re F**ked.

    • Its my opinion the range of $27 to $35 continues until the wheels come off the car. It’s not falling apart as you state just getting kicked around a few bucks.  Remember silver got beat down to $8 / ounce about 4-5 years ago.  Even from the 2007 market highs it’s still up over a 100% increase. 
      Silver has remained strong and mostly holding about $30.  Silver even approached $50 at one point which is incredible. 
      So my main input is you gotta look at this long term.  If there wasn’t the massive silver shorts, then silver could easily be at $50 or $60.
      I’m perfectly content for silver trading in the $27 to $35 range at present time.  I believe it will go vertical in price at some point and the stackers and mining stock purchasers with unwavering resolve will be aptly rewarded.
      Enjoy the roller coaster ride as I expect the Mother Of All Smack Downs before they let this rocket take off.

  5. Impressive! I love these evil banking bastards they make it to easy! Keep the price artifically down and make everyone think it is a bad investment while they covertly buy up all the assests. Then when the economy meets its demise real wealth such as gold and Silver will sky rocket to unprecedented levels over night. Great Plan Guys!

  6. JPM is getting desperate. I remember reading somewhere that said that JPM is practically the only entity now in the Sliver naked shorting business and holding practically all of the Silver shorts. March delivery is creeping up on them and Open Interest can’t be contained. They have been smacking Gold as a proxy since the short position in Silver is so huge already. But today they clearly smacked Silver in a desperate and direct attempt to shake some weak hands. We’ll now later, but this smack down probably didn’t budge OI again. If smack downs aren’t working then Blythe must be getting nervous, the only guaranteed way to close out those open interest is for JPM to… buy them back! Pushing prices higher. 
    Btw, CRIMEX is closed on Monday and China will be back in full force to take opportunity of this recent low prices offer in Gold and Silver. I’d expect at least one more smack down tomorrow morning at CRIMEX open and short covering all day. Either that or the new shorts put in by JPM might be in a bad shape when they come back into the office on Tuesday morning. 

  7. The plunge is PAPER SILVER PRICES.  Get that through your heads, please.  The PHYSICAL PRICE is what you want it to be.  Example:  I sold 6 rolls of eagles yesterday for 40 a pop,  800 per roll.  Why? Because I can. More importantly, smart people out there will buy WHERE EVER THEY CAN FIND IT!!!!!!!  I will recoup the silver by buying 90% junk at zero premium.  Of course, the availability of silver IS shrinking, but it is out there.
    Just remember fellow stackers, there is no relationship (anymore) between paper and physical silver. 

    • The paper price IS the price.  If it drops to $20, you won’t see APMEX selling physical for $35.  It will based on the paper price.  If you want to sell silver, you won’t be offered more than the spot price.  Sorry, but that’s the way it is.

    • Mr Boompi – I can sell on ebay at £30-£31 an oz, AFTER ebay fees. Spot price in uk at the moment £19.65. There are some selling maples on ebay buy it now and clearing £35 after fees! Sorry you are wrong. Paper price increasingly means jack.

    • Looks like generic rounds are going for 35+   I have been following prices on eBay for awhile and they appear to be unaffected.  ASEs are going close to 40

  8. Great, as I just sold a bit of Phyzz. Turns out I am stacking cheaper than most of my compatriots, allowing me to diversify my stack and make a small nominal profit. Just need to make sure I lock in the price for the next purchase before this dips is over. Unfortunately, my dealer is close for the week… 
    Are you guys buying Canadian Wildlife Bisons? Barely more costly than Maples. With the great demand for Maples, they may not mint as many Bisons? A man can hope… I’m going to try and unload Maples and Eagles, makes no sense to hold those when hot premium coins go for just a couple percent more. 

  9. So? I’m HARDLY going to saddle up on my bike and run helter-skelter to go dig everything up … now, am I?

    Ohhhhhh … Who’s afraid of the big bad wolf, the big bad wolf, the big bad wolf? Oh, no no, not me!
    He can huff and he can puff, but he can’t blow MY house down! I’ve got stealth radar faceting and coatings on MY stashes … AND … a neat little trick that WILL keep them safe beyond even THAT precaution!
    Sooooo … Who’s afraid of the big bad wolf, the big bad wolf, the big bad wolf? Oh, no no, not me!

  10. This has everything to do with shaking out the weak hands.  I mean the paper players.  This has nothing to do with stackers who buy oz’s or small bars.  Stackers aren’t selling now nor are they ready to sell yet.  If they were we would hear from more of them on this site.  This is all about  the big boys right now.  Stick it out.  The coins and bars we are buying right now are insigificant in the scheme of things and have nothing to do with the elitist’s agenda of driving prices lower so they can accumulate mass quantity’s of 1000 oz bars.  Screw em.

  11. Just look at what they did with HNZ…” oh yea put that on your sell list…no doubt its worthless who even likes ketchup?!” “ooops would you believe BSH just bought it for 72.50…wow wished we would have known, wink wink ” Looks alot like whats happening here just taking them longer to put phyzz in their pockets at the price they want it then hold on.

  12. @Marchas45:  You are welcome, my pleasure.
    @Mr.Boompi:  It may well be that way (paper price rules) where you are located.  Also, your possibly narrow buy/sell client list could be at work also.
    From my vantage point, I can sell just about any quantity of silver Eagles, at a ridiculous premium because the reality that eagles are “just silver” hasn’t sunk in yet.  People are willing to pay unreal prices for them because (l) they are difficult to find, and (2) they have been drummed into the potential buyers mind (by your wonderful GOVERNMENT) that they are the “best”.  Hell, I won’t argue.  Its more $$$ in my pocket–to buy 90% junk–. Remember, your wealth is measured in OUNCES, not DOLLARS…and you can buy a helluva lot more ounces of “junk” silver than silver eagles.  (I can’t say that enough)!!!!!!  Good Luck!

    • Thats really cool  art/display.   What is it?
      What is the gold background holder made of or where could I get one?  Would like to incorporate elements of that in a product display I am working on . Cool.

    • Here you go Mammoth resized for you. By the way I’ll take them all, I need a great present for my wife today seeing that it’s our Anniversary today. (21 years)

  13. Newsflash
    The spot market will look like shit from here on out until PanAsian exchanges take over. The physical market won’t, but valuation will be a bit more complex than clicking refresh on spot charts like crack monkeys.
    Internalize that and quit yer bitchin.

  14. Are the concepts of destroying the wealth of nations, putting us in massive personal debt, manipulating human history, destroying institutions from the inside, all to bring in the devil worshiper’s new world order so hard to grasp?
    Last I looked, the real price of one ASE is spot plus 14%.
    Remember, this is His World and we are all thrown in together to make choices. You do YOUR own due diligence in everything. 
    You die your way, and I will die my way-John Wayne
    BTW, John Wayne had a death bed conversion to Catholicism. Personally, I am not going to try to time the market. I have a solid base of stored treasure Up There to not worry down here…all I have to is die His Way. I am the Mel Gibson Thomas…Mel? We both are under attack, know this.

  15. Re: that photo…the gold background is actually a genuine (empty) box of Russian chocolates!  While getting ready to toss it into the garbage…er…recycle bin last year, I had the sudden creative inspiration to use it as a display for some coins, so I composed and made that photograph.
    Unfortunately, for some reason when I posted the photo, it got blown up and much of the image was cut off.

  16. Ever since Ron Paul pulled that silver circle round from his pocket to school the Chairsatan on the merits of honest money; the cabal has kept a wrap on the pa0er market. Said Chair did not appreciate so much good humor about his detruction of the currency;  lol. Enjoy these subsidies while they last!

  17. Mammoth
    quit showing your silver  My wife caught a glance at those coins and now she wants some.  I planned on cards and flowers
    Here’s a idea/question   If silver dropped to $25 and gold stayed at $1,600 that’s a gold to silver ratio of 64 to 1.  I wonder if a dealer would take a trade of gold for silver at the spot or paper price.  It would be a great deal for the trader to stack silver at a low price with a beneficial ratio price, making gold a stronger hand in the trade.

  18. Happy anniversary Marchas45 & Silverrrrr, remember not to piss off the Queen on her special day…

    Thanks M for resizing that pic; I’m all thumbs when it comes to computers (and investing in Silver, apparently).

    Re: that photo, on the RH side of that photo is the reverse side of an old seated liberty half; picked up that coin as well as a few others from a private individual selling them on Craigslist a year ago. After a long drive to get there, all of the seller’s coins looked pretty good except for that half – which had a hole drilled through at the top. What a bummer.

    But the coin was dated 1954 – it was minted exactly 100 years before my sister was born! The wheels started turning and I ended up buying a small silver ring (to slip through the hole) and a 22″ silver chain. Voila – a beautiful & unique pendant, which my sister was floored by, when she opened up that little wrapped box last Christmas morning.

    Talk about making a rotten apple into applesauce!

  19. NEWS FLASH:  Who cares what the paper  price of silver is! The (OI) open interest on silver as INCREASED every day this week, all week!  For the uninformed, that means the traders out there are BUYING SILVER CONTRACTS (LONG) and the stupid, greedy elitist banksters, can’t run them off.  As long as that keeps happening, I’m a HAPPY CAMPER!

  20. I hope this question isn’t too stupid…
    For every trade, there must be two parties – Buyer & Seller, right?
    So when JPM or whoever, does one of these so-called 90 million ounce ‘dumps’ of paper silver contracts onto the market, who’s the damn BUYER? Do they have two computers rigged up, one does the selling and the other does the buying?
    I’ve only ever done one live trade in my life on the stock market, and I had to ‘offer’ my lot at my asking price, and wait for some willing buyer to come along and make me an offer. It only took minutes, but these smackdown trades are happening in milliseconds. That’s not humanly possible.
    Can one of you erudite readers please explain this? 

    • @markjames240 aka Speros…The boyz use a system of high speed computers that execute trades in microseconds, some as fast as nanoseconds.  By virtue of being market makers they know where the stops are and hit the bids to trigger the stops.  That’s the waterfall chart pattern that we saw today.  They can do this with very little money because when they hit the bid they cancel the trade all within a microsecond or less.  It’s called high frequency trading.  And to top it off they do this while being naked short.  All to which the CFTC turns a blind eye.

    • China, Russia, the Middle East and the rest of Asia will not be any better off when that day happens. America can and will recover very quickly assuming we return to a Gold/Silver standard.

    • Andrew, did you really pay $100/oz at a jewellers? If so, I’m sorry to tell you, that is not stacking the smack.
      For starters, only buy from a jewellery store after the panic sets in, and the lines to coin & bullion dealers is out the door and around the block.
      Do you have any bullion dealers or coin shops handy? If not you can always buy online fully insured from Silver Doctors, Gainesville, Miles Franklin, etc.

    • @Speros A Johnson Matthey bar is not considered romantic in some circles.  Only you would know if it was appropriate to give maples away today or I mean yesterday now.

    • Ah yes now I see your situation a bit more clearly Andrew.
      P.S. I am also a James 😉

      PPS. My wife & I enjoyed a delicious meal at an American restaurant in Singapore, and you can call me un-romantic if you like, but I placed an order for a tube of Maples and told her it was for her Valentie’s gift hehe…

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