imagesAfter trading up to the top of their recent respective trading ranges over most of the week, gold and silver were capped at $1680 and $31 overnight, and have just been treated to another waterfall decline.

Silver was smashed .80 to $30.14, and gold nearly $25 to $1654.

 

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Notice the classic mini-vertical spike just prior to the waterfall take-down:

silver

 

Gold saw the same vertical spike through $1675, and then the waterfall raid which has seen the metal touch $1654

gold

  1. In other news, manipulation is set to end soon, 90 dollar silver, jpm set to be exposed, massive shortages of physical.
     
    Reality… the game is still rigged, we’re still screwed til it breaks and someone is laughing at us. Buy a few more and sit and wait. and wait. and wait. and wait.

    • It could be that some really rich groups are trying to break the COMEX.  People are buying silver in huge quantities and standing for delivery but yet some groups keep smashing the price of paper silver using derivatives down to $30.
       
      We’ve already seen press from the media outlets plus actual dealers that silver supply is getting really tight.   What happens in a couple months when groups want 10 million and 20 million more ounces of silver out of the COMEX but it’s not there?
       
       

    • Hopefully.. we’ll see what happens. That theory has been being floated for YEARS. Yet no one, exactly no one, despite the billions of dollars out there has done it. I’ll be the first to applaud.
      The latest twist is this whole “arbitrage profit from the shanghai to the crimex” scenario. Buy and take physical delivery from the crimex then sell on the shanghai for free money. So far so nothing. We’ll see on the next delivery month.
      I said before I’m all in. I’m also ready for some movement.

    • “What happens in a couple months when groups want 10 million and 20 million more ounces of silver out of the COMEX but it’s not there?”
       
      My guess is that the same thing that happened when the LBMA ran out of gold and silver will happen.  More will be shipped to them from somewhere else.  Hmmm… are we running out of somewhere elses?  Could be.  If so, then the whole situation is about to get VERY interesting.
       
      As for price capping in PMs… OH, YEAH!  Love’em.  This is the only thing that allows me to continue buying and adding to my stack.  If silver was $150 an oz., we’d all be buying a lot less of it.
       

  2. How much more obvious can you get? The dollar and the metals having large downward movements at the same time? Yeah, I think that you just have to laugh at this, how is it possible that the dollar declines with the metals and vice versa? Survey says: crooked thieving banksters covering for crooked thieving politicians. Just like benghazi was because of a youtube video, and fast and furious was because the DOJ was fighting the drug cartels. Fact is, that spiritual wickedness in high places has found a home in America. While we continue to fight the good fight of faith. The banksters should read the bible, because it’s got good news for us, bad news for them, they lose.

    • Indeed so… as many of us on here are.  The sweet part of this is that as physical gold and silver leave the market, they will either be forced to have less paper PMs OR continue the manipulation via having even less phyzz to back their paper.  With less backing, it will take fewer futures buyers standing for delivery to collapse the paper system.  It really IS winding down, folks, and it is happening right before our very eyes.

    • Join th eclub, I am a very small stacker, disabled and on SSDI. Not a lot of income but excess has been going into prepping for the fall. Food, guns, ammo, pm’s are all going to be needed.

  3. I do not believe that any gold bugs that read this site need further proof that the Presidents Working Group on Financial Markets is responsible for this.  The strategy has changed a little.  Instead of managing the ascent of precious metals the strategy is to cap the price.  30 bucks on silver, 1650 on gold.  This is a serious battle going on and the Feds are making it clear to all of us that they are in charge.  Silver is a buy at 29 or lower.  Gold is buy at 1625.  Morality does not exist in our government.  We are at war.

    • Ditto that ChickenKeeper.   It’s a currency war.  Soon enough the PPT will retreat and defend a higher price target.  But, there eventually will be a day of reckoning.  Great interview with Kevin Bambrough over at KingWorldNews.com lays it out.

  4. Just wondering how long it’s going to take to really lose our asses. Anyone here have a rah, rah, rah, don’t worry….Silver will be way on up there after you are Dead and gone, but your Great, Great Grandchildren will use it for play monopoly money. Same ole same ole tiring waterfall rhetoric. Disgusting
    Guess you can tell that I am a mite cranky today.

    • Amen ranger. I’m ready for the wheels to fall off at which point I’ll whip my stack out and say MINE’S BIGGER THAN YOURS BITCHES! and know that 99.6% of the time I’ll be right – because physical silver and the average westerner go together about as well as milk and mustard at this point.
       
      I need to pick myself up and remember midnight is where the day begins.

  5. Sitting here waiting for them to really smack PM’s down….Don’t ya just wanna yell …”that all you got??”
    Don’t ya really wanna see ‘em slam it good?
    Just a huge slam down…
    Let get the disconnect get started!
    I hope it’s time—
    Paper PM’s push spot way down….Premiums go way up for someone wanting Phyzz….so ya still be paying like $35 for Silver and like $1750 for Gold –even though spots is down at $25 and $1550.
    They could do it.
    Just think how this game would change if were finally on the doorstep of a disconnect between the Paper price and the Physical price of PM’s!
     
    I just wanna begin singing Kumbaya—Don’t you??

    • So, Mammoth… how did your puts do?  You did buy them with the expectation of this decline, right?  If not, then perhaps next time?  Somehow, guy’s-n-gals, we’ve simply GOT to turn these price smack-downs to OUR advantage.  Knowing with reasonable certainty that something is coming in the investing world is a HUGE advantage.  Let’s milk it!  >:-D
       

  6. This is a self-defeating strategy. These low low prices are hurting the miners. If they start to lay off and cut production, there will be more upward pressure, and even greater paper dumpage required to control it. 
    I don’t believe the figures on inventory.  I don’t really believe any of the data, coming from the primary dealers.  They are not under oath and the CFTC won’t stop them.
    I do know that silver doesn’t grow on trees, the easy deposits are gone, and this can not go on forever.  When the premiums start to go higher, they will have to relent or they will create the ‘disconnect’ everyone is looking for. 
    Anybody that dumps a stack of physical over these shenanigans will regret it.  Some of you are letting them get to you, try to see past the manufactured hype.  That silver you have is the result of hard work, don’t let them steal it away.

  7. Wow, huge shock here. PMs smashed…and the sun also rises.  Predictable.   Soooooo, I guess we just STACK STACK STACK some more.  When they run out of phyzz to buy, the house of cards comes tumbling down. Be patient and hold tight.

  8. Oh I won’t let them steal it away as I will always have something shiny to look at, maybe beckon the extra terresterials with a sun light reflection to come and death ray the paper shorts, but those gray little bastards may be part of the entire collusion process. Fighting the cartels is a losing frigging battle that is not soon to be won by we stackers, those bastards borrowing money at Zero interest while inflation eats our dollars up.
     

    • Hey Ranger I see your shiny signal and come a calling. This Gray is on your side ;-)
       
      End of the month have enough bonus funds coming for another 200 oz at current price. I’ll send you a return flash of Zilver light in 20 days LOL

    • Lol, Ranger.  I had this dream some months back.  In the dream, aliens came to Earth, whipped our butts with their tech advantages, and established their own police state on Earth while they looted and pillaged the planet.  Fortunately, they were insectoids, so no raping was involved.  Anyway, their star ships all used a warp drive that was based on disintegrating silver atoms to generate the huge amount of power it took to open wormholes and warp space / time.  They would do these “security” sweeps from time to time and any humans who looked like undesirables were killed off to make their job of running the place easier.  Anyone who could come up with an oz. of silver, though, could buy a pass and get out of that situation.  Pity the poor bastards who had no silver.  I think that I became a human over-lord at the end of the dream.  Big stack = big power, lots of food, and alien tech to protect me and my family… as well as those of all other silver stackers.  Everyone else was pretty much SOL.
       
      So… a flight of pure fancy or were the heavenly PTB trying to tell me something?  :-O
       
       

  9. “Let’s all join hands, shall we, and go hastily to our “corner” coin outlet and scoop up anything that resembles 90% junk or AEs. …”

    thats what i do on every manipulative attack on the phony paper price…
    and then i do this to remind myself that i am right…
    that my real money represents freedom from the banker debt slave paradigm…
    and to calm the anger at their fraud that will end soon…
    i suggest all real money patriots do the same…

    • Nice vid.  Thanks for sharing.  I do this sometimes as well. I prefer nice looking coins but some of the junk I buy has been well used and looks like crap.  Fortunately, a little gentle cleaning and polishing can revive our “good money” and make it look really good again.  This is for the benefit of those who do not already know that silver IS real money!  When it looks good, even they can appreciate it.

    • @ Ed B - 
      thanks and glad u appreciated the vid…
      @Mary B - 
      i dont accumulate for collector (numismatic purposes) …only to add to my real money holdings and resist the tyranny of the money changers… cheers

  10. Who cares anymore.  I’ve been buying silver since 2003.  80% of that time the price action has sucked.  However, the other 20% is awesome! So traders beware.  The best approach to riding out these waterfalls is by stacking.  The goal is ounces.  Use the time to stack.  Sometime in the future (who knows when) we will be rewarded.  We all know it is the best investment of the next decade.   

    • Congrats on your prescience for buying so early. The unfortunate thing is, we need MORE people to stack. THis is happening, but the idea of a silver noob watching their recent purchases go negative is alot more than many can stomach. For a guy who is dollar cost averaged at 15-20 bucks this is all a joke. For someone who is dollar cost averaged at 30 for example, this is a little tougher to stomach.
      This paper volatility scares many out of the market, which prolongs the game. I care about manipulation because it feeds on itself. Sure it will break some day. I want that to be today.

  11. HEY CHOP, CHOP,
    SAN FRANCISCO (MarketWatch) — Gold futures fell Friday, as investors mulled the impact of a bigger-than-expected increase in consumer prices in China, the world’s second largest buyer of the precious metal.
    The data raised concerns as they may discourage monetary easing by the nation’s central bank, but gold may also find some support from worries over inflation because it is seen as a hedge against rising consumer prices, according to analysts.
    Gold for February delivery /quotes/zigman/4331913 GCG3 -1.31%  fell $19, or 1.1%, to $1,659 an ounce on the Comex division of the New York Mercantile Exchange, still trading about 0.6% higher for the week.
    Futures prices for the precious metal had risen $22.50, or 1.4%, on Thursday after strong Chinese trade data generated optimism about the global economy. The move helped some investors regain confidence in the market, which has seen losses over the past three months. See Commodities Corner: Gold bulls come out of hiding.
    But on Friday, data showed that China’s consumer price index climbed 2.5% in December from a month earlier, accelerating from a 2% increase in November. See: China consumer inflation quickens on food costs.

  12. Gosh, wonder why Gold went down in China when now paricularly Food costs inflation rears it’s head?
    You would think Gold would kinda go up along with Silver huh?
    Any takers on this question? Seems that currencies are continuing to go to the shithouse and taking Gold and Silver
    with them. Could it be that at the bottom of the cess pool for currencies that Gold and Silver will make the big play up?
    Maybe I am dreaming? YOU?

    • I dunno, Ranger.  When looking at a heavily manipulated system, it is difficult to give a reasonable answer to this question.  My guess is that when there are financial problems, particularly with inflation or unemployment, anyone who has less than their normal amount of money is probably buying less gold and silver than they otherwise might.  What they do have could be going to provide living staples for them and their families.  If I had to choose between buying food and buying silver, it would be a hard choice.  But, not to worry, because my wife would smack me upside the head to settle the issue and food WOULD be bought!  ;-)
       

  13. Here’s solid proof of the current dramatic demand for physical Silver relative to physical Gold:
     
    From the GoldMoney website–
     
    Silver Canada = $13,590,399
    Gold Canada = $10,630,198
     
    Silver Singapore = $8,264,731
    Gold Singapore = $6,621,695
     
    Silver Hong Kong = $219,465,572 (Vault 1)
    Silver Hong Kong = $21,285,293 (Vault 2)
    Gold Hong Kong = $94,115,143 (Vault 1)
    Gold Hong Kong = $15,603,868 (Vault 2)
     
    As can be seen, in each market area where precious metals storage has become available in recent years, the retail investors are saving more money in physical Silver than in physical Gold.  At this rate, it is naturally impossible for the Silver prices to remain at ratio of 55:1 relative to Gold for long, since the physical supply ratio is less than 10:1.  Going forward, there are only two ways that Silver can remain at $30/oz in light of the present physical demand characteristics:
     
    * Supply of Silver is increased to 55:1 ratio relative to Gold supply.
    * Gold prices fall to equal 10:1 ratio relative to Silver (ie, Gold is $300/oz).
     
    Is this possible going forward, in light of the present world financial and economic environment?  If the answer is NO, then there is really no good reason that anyone should hold off on converting their paper currency savings into physical Silver and some physical Gold.  Gold is presently undervalued, but Silver is super-undervalued.

    • Excellent point.  U.S. silver stackers are not the only buyers of silver.  Demand is coming from everywhere.  Wait until the Japanese engage.   We’re talking moonshot.

    • “Gold is presently undervalued, but Silver is super-undervalued.”
       
      Agreed and it is this thought that has me questioning the wisdom of buying ANY gold.  If this works out as expected, it would be MUCH smarter to buy silver out the wahzoo and then trade some of it for gold when the G/S ratio becomes sufficiently favorable.  I could buy either a monster box of ASEs or Maples OR 10-oz. of gold coins for about the same money.  If the G/S ratio were to drop from its current 55:1 to 30:1 or even 15:1, having bought silver at 55:1 would be a HUGE financial advantage over buying some gold now.  Still, I do like the idea of owning more than one kind of PM.
       
       

  14. Speaking of PMs… what do you guys think of buying palladium?  I am considering buying 20-oz. of Canadian 1-oz. palladium coins as part of my stack.  Good idea or would 85% of a monster box of 1-oz. silver coins for the same money be a better prospect for future financial gains?  Just curious as to what others think on this.
     
     

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