Jeffrey Christian: Silver Demand is Weak, Enormous Surpluses to Cause Silver to Outperform Gold to the Downside

Apparently it’s not enough to merely hammer the metals with MOPE raids, the bullion banks are also trotting out the propaganda shills in order to properly manage the public’s perception of gold and silver in the wake of QE4.

Our favorite cartel shill Jeffrey Christian of the CPM Group is back on BNN, spewing more of his classic BS rhetoric regarding the metals.
Christian told the BNN viewers he expects gold to trade in a range from $1450 to $1750 in 2013, and that silver will trade in a sustained downtrend, claiming that silver demand is weak both from an industrial and an investment standpoint
While silver is in fact up approximately 18% year to date, Christian chose to compare silver’s average price in 2012 with the average price of 2011, and claimed that the metal is down 15% year to date.

Christian capped off his outlook by claiming that he expects silver to outperform gold to the downside in 2013, due to enormous surpluses of the metal.

 

The 1 oz .999 Silver Bullet Silver Shield Trivium Medallion is available now from SDBullion at only $2.99/oz over spot, ANY QUANTITY!

Christian’s full interview can be seen at BNN after the jump:

http://watch.bnn.ca/the-street/december-2012/the-street-december-12-2012/#clip825093

 

 

Comments

  1. Doc why do you give this guy top billing? Put him where he bolngs IN THE HALL OF SHAME I’m not even going to listen to him.

    • @Marchas45:  Got to post first before a post can be moved into the Hall of Shame.  :-)   In any event, having little stooge Jeffery temporarily at top billing when all this b.s. is going on certainly helps to solidify his role in this propaganda war.  During the run-up to so-called QE-3, you’ll recall, that twitt was on BNN talking down the metals in the week before QE-3 was annouced.  Once again, little Jeffery’s timing is suspect.  I think his PR staff gets a little help from being connected with the “right” people and when those people (connected to the cartel) start a new assualt Jeffery is called-up like an old, faithful dog to bark, piss on the market and chew on the furniture.

    • You just cheered me up Flying Wombat. LMAO

    • I got 15 SECONDS into the clip before the disinfo started. LOL. 

      The host said “will gold trend continue its ten year upward move…”?
         
      We all know its going to be 13 years in a row very soon.

    • How about an old faithful weasel? I look at his ferretty little face and feel physical revultion. He is a master dissembler. Imagine coming out and lying on cue for rich people?
      I recall him talking at the metals hearing in 2010, and it reminded me of a salesman, talking down one avenue and looking to see if his verbal garbage is gaining traction, then trying a different tack. Gensler called him out multiple times for his meaninglessness verbiage on ”hedges”.
      “A tale told by an idiot, full of sound and fury, signifying nothing.

  2. calling this guy an A$$hole would be an insult to A$$holes everywhere..
    The extent  of this guy’s use is much like a shipwreck, to serve as a warning to others. Once anyone studies the industry, listening to this idiot talk is a mix of annoying, infuriating, and hilarious.
     
     
     
     

  3. People that watch T.V. are armchair buyers hence Paper Silver buyers with…brokers they can trust…Hey, if the Dollar got strong then it’s a win-win right? Any indicators that the USD is improving? Who watches T.V. anyway? I won’t even own one of the evil bastards.

  4. I want this guy to lose the last name “Christian”   There is nothing good about this scum.

  5. I don’t get upset anymore at the continued attempts to push silver south.   I just buy the dips.   
    Silver is a LONG term play.   The propaganda, the manipulations will all continue to work and they will keep the price low.  
    This will work, right up until it doesn’t. At which point it will detonate upwards.  

    If silver  goes to $500 (hypothetical), would you rather it make a steady slow creep or just explode one day?   Since I am not anywhere done buying, I’ll be happy with the non-skyrocketing price.
     

  6. enormous surpluses yay can you tell me where they’ll be dumping it I’ll bring a truck 

  7. any way to coment directly on bnn to this video?

  8. Woooooooooooooooo Weeeee! I really hope he is right. If he is (and by my calculations) I’ll be able to no less than double the height of my stack. I maybe would even try to triple it. Nice. Hear that Jeffrey????? All you shills do is encourage us to build the phyzz stack higher.

  9. Hey Jeffrey, I’m completely bent over.  Now, do what you do best….KMA!!

  10. just sent a rather truthful email to cme group referencing this vid and the shill in it.

  11. Silver demand is weak? The tooth fairy forgot to mention that! The Easter bunny will be pissed!

  12. As much as i dont care for Jeffrey, He has been acurate on his call for Gold and Silver so far. Lets not underestimate the powers at the helm to keep the metal prices in check until they see fit. When they are ready to let the prices rise then they will. All of these calls that the comex will default is unfounded. They run the game, they have all the money at theyre disposal, they have the politicians in theyre pockets and the regulators…the game is rigged…only when they scare everyone out of theryre positions they will turn sides and let it run….my opinion is the metals just might be range bound for all of 2013 testing our patience but then again maybe it will be a stellar year, nobody really knows.

    • Please explain how this guy is “accurate”?  His friend dump millions of paper ounces on the market and then they bring him out to talk his spiel.  Is that what accuracy means?

    • @Icarfa:  Christian has one of the worst track records in the entire industry.  Please read (re-read) the posts linked on this article and note the link/comment DOC provides below.  Dig deeper.  There are others that have documented and published Christian’s follies on other sites as well. 
      In any event, it’s one thing to debate about how strong of a hold the cartel has on the markets and quite another to suggest Christian’s track record is commendable.  Conflating both in your post isn’t going to change the fact that his track record sucks.

  13. The flak being heaviest when you’re over the target, I’d call this very bullish.
    ASE’s are flying out of the mint at a breakneck pace this month. 
    If demand were weakening JPM wouldn’t have to accumulate a mountain of shorts as big as Dimon’s ego to contain it.  
    There has to be a problem, a big one, with real inventory.
     Very nice.  Off to the ‘Hall of Shame’ with this slimy rat. 

    • I will second that!

      And looking at BrotherJohnF’s latest video the cartel will be running into **very** stiff decade-long support at these levels now.

  14. found this on ebay. Look! Someone is aware  ebay item 130819681944

  15. A) Silver demand is weak.  Across the board, weak to flat buying in 2012 from “stackers” all the way to industrial buyers.  If you take actual numbers not “tinfoil hat” numbers, you find that buying is down to flat.  B) This guy did not say to sell your silver or gold.  He said he expects prices to trade in a range.  If you LISTEN you might learn that BUYING ON DIPS is the way to do it.  That’s not the script, granted, but it’s how to use ranges to pick up – er, “stack” more “phyzzz.”  C) The correlation between QE and metals prices has a very low beta.   If you think that QE is what drives prices up, you’ll need to explain every other QE event that did nothing.  

    I know.. I know. “They” are holding prices down.

    Sigh.

    Back to the script. 

    • Look, some of us are not looking at this as some academic exercise to find correlation between QE and metal prices.  We see the ship is sinking and do not care to be on it when it does.  I am not interested in how many minutes it takes for the hull of the ship to fill with water and whether starboard or port will go down first.  I am interested in seeing where the closest life boats are located and getting in them.

      Wait for that next dip at your own peril becasuse the next “dip” could be a very, very deep and cold one.

    • Demand is real weak, yeah right look at the number of ASE’s flying out of the mint. Try to find 90% US coins for under spot anymore.

  16. Jeffrey Christian, pathetic weasel of a man.

    • fonestar, as is the case with every “stacker,” you ignore evidence that disputes your belief.  You literally just wrote, “ some of us are not looking at this as some academic exercise…”  That’s an admission I would be embarrassed to make.  And, it’s an admission silver retailers are so very happy to hear from you and other “stackers” of the “phyzzz.”  See, if you want more “phyzzz” you should begin to think with your brain and not the emotional part of your brain.  When silver was at $50 last year, the very same arguments spouted today were spouted then.  And, guess what? Retailers made out like bandits on those stories to the tune of the highest volume retail sales EVER.  ”Stackers” got a lot of “phyzzz” and are still holding the bag.

      But, alas, back to the script. 

    • @Truth Over Hype
      Hard to tell from your posts if you are actually a disgruntled stacker or a Fed plant. If you really are a stacker, my apologies, I’m sure you will be in a better mood soon, but if you dine with the Bernank-panzee, take a walk. Correct me if I’m wrong but your posts are quite harsh and don’t seem to belong. Are you reading from a script?

  17. Time to buy in MASS… My local coun store guy is telling me that he has been silver like crazy. People who have never bought before. Large orders, small orders etc. Christian is a liar.

  18. Where is the critical thought here on this board.  Yes Christian seems like a shill and doesn’t seem trustworthy in the least. 
    However, last year he called the top within $20 or so in gold on Jan 31 and silver only traded above his top call for it on the same day intraweek (i.e. never closing above his top call).  Will he be right this year?  I’m not sure, but if he’s right again, he shouldn’t get skewered like Gartman for his calls.

    So whether he’s a twit, stooge, shill, or what, he was actually correct this past year.  Do some homework instead of just being cheerleaders and you’ll help the little guy out much more than banalities which confuse the issue. 
     

    • @Edward-London : Christian has been calling for lower gold and silver prices for 10 years.  Please don’t mistake his propaganda coinciding with a correction as being a correct or good call. 

      Perhaps you missed his call in September, the VERY MORNING QEternity was announced, igniting gold and silver to big 2 month rallies that :

      No QE3 Coming, Gold & Silver to Crash As Rally Has Been Based on ‘Speculative Fluff’

      Yup, that was a great call.  watch it yourself.

      http://www.silverdoctors.com/jeff-christian/

       

      -Doc

    • Exactly like the Doc says.  There’s a big difference between making a great call and having insider information from the Boyz.

    • @fonestar:  It’s not that he got tipped-off, per se.  And even if he did, that’s irrelevant.  It’s that we’re talking about an example of the “stopped clock” phenomena.  A stopped clock will show the correct time two times each day while being wrong througout the rest of the day.  Christian is bearish, bashing the PM markets 90%+ of the time.

    • @Edward

      Seems like shill? LOL. I’ve followed this guy forever (like Nadler and Gartman). They ARE all MSM and pro bankster shills. They are also disinformation specialists at best, and LIARS and FRAUDS at worst. Please don’t insult the good people here who know better. 

    • Yeah, thanks for that, Doc.  I had forgotten about that call.

      Again, I agree he totally seems like a shill.  But just like some say that paranoiacs have real enemies, too.  Shills give us real information at times.  So we should attempt to put the pieces together to figure out the bigger picture and the specific agenda behind the words, again, assuming he (and Nadler,  et al) are shills and not perma-bears. 

      I don’t trust the man at all.  But (forgive the gentle rant) I also think there are too many on this board and others who simply fall too often for the bait and don’t realize how we’re being played.  These are not ghettobilly folks we’re dealing with and their propaganda is not simple either.  My point is that we’d be a lot better off civilly presenting the case instead of ranting off. We’d be doing ourselves, this community, and those with less savvy who come here, a lot more justice if we did. 

  19. Okay, yeah I know he is a PM perma-bear.  I just meant that it seems they bring him out to talk his trash to coincide with a big paper sell-off.

    • That is exactly what they do. BNN in Canada is now the BlowHorn [CNBC] of the North. I have watched this network’s credibility slide for the last several years. Their latest anchor, Catherine Murray, is a former Deutsche Bank and Goldman Sachs employee. No conflict of interest there <sarc>. 

       

  20. Yes “ENORMOUS SURPLUSSES”. That’s why Sprott’s orders get filled so quickly huh?

  21. Dear “Doc,”

    If you had SOLD into the “rally” on QE3, you could have bought back nearly $5.00 lower.

    But, sadly, it seems “stackers” of “phyzzz” don’t like to wait for those kind of “waterfalls,”
    they’d rather line your pockets at “any price”.  I remember your posts that the ship was
    sailing on that QE3 story.  But, uh, no, the ship pulled right back in to port.  The crew
    got off, and they refitted the old girl. And, now she’s barely back out into the harbor.

    So, while it makes you more “worthless fiat,” it is intellectual bankruptcy to not at least
    admit you have been wrong many, MANY times on prices.  It’s not just “banksters,”
    is it, “Doc?”

    Okay, now, back to the script. 

    • Thanks Truth Over Hype.  I’m glad you are here to save us from our ways.  You registered on SD 3 days and 20 hours ago.  What’s up, Minister of Truth?  Did you get a new work assignment from the US Treasury PR department on Monday?  ;-)  
       
      Nice timing for this week’s price bashing and propaganda rehash roll-out.  It’s just a coincidence folks.  Don’t be a conspiracy theorist.  Then again….

    • @Truth Over Hype I for one am not interested in a $5.00 gain as I buy Physical for Survival and eventually Wealth. I don’t do the Paper game for greed off Fiat. You can have much Fiat as you want but I’ll stick to my Physical and be prepared when the Paper Game Falls Apart. Thank You. So I’ll Keep Stacking.

    • OK, I decided you’re a Fed operative….go away, nobody here will fall for it.

    • Hey, guys, I thought we were an enlightened community of silver investors. We should welcome all visitors and engage in civilized, rational debate. I welcome and consider all viewpoints. Even Mr Christian’s. I’d love a chance to buy more silver at bargain basement prices.

      I think our ship is eventually going to sail. But there will be many false starts.

      Staying on the nautical theme, following his mutiny on the Bounty, Mr Christian made many enemies and finally got his comeuppance.

    • @SilverSlicker
       
      Yes, sounds like someone reading from talking points.  From interest rate manipulation to the FOMC to the metals, they must be pretty busy bloggers.  We have credible reports that they are out there and paid for their services.

      He is definitely preaching to the wrong choir here!  For us stackers Mr. Hype, we realize that a move of $5 is meaningless.  The question is how much real money can you buy with your fake money.  If you subscribe to the idea that the price is manipulated (it is) then there is no point in waiting for false buy and sell signals.  I buy what I can when I can and do not fret these moves at all.  Most of us have no intention of ever trading our physical silver for Federal Reserve Notes.

    • @TruthOverHype One more thing. Concerning your comments about the Doc. He would be the first one to say, ‘stack the smack’. That’s stacker parlance for buy on the dips.

      Some people don’t like Mike Maloney because of his association with the Rich Dad franchise. They point to his gold and silver dealership as the reason he ‘ramps’ precious metals.  This is false logic. Mike Maloney sells gold and silver because he believes precious metals are the only sound investment worth making at this time.

      I believe this is why the Doc is now selling gold and silver. Because it’s the only place to be. 

      Furthermore, SD Bullion is making every effort to undercut the big precious metals dealers. You can’t knock that, and I wish them every success.

    • Does anyone else get the feeling that this joker is Military or retired military? Looking at the pharagraph below the saying The Old Girl is a dead giveaway. Lol
       
       I remember your posts that the ship was sailing on that QE3 story.  But, uh, no, the ship pulled right back in to port.  The crew got off, and they refitted the old girl. And, now she’s barely back out into the harbor.

    • @Tawnyard: There’s a big difference between mocking someone versus excluding the views of someone and shutting down debate.  I, for one, defended the posting of Christian’s missive at the top of this thread while at the same time, I have no problem with agressively tearing down his ideas and contrived media persona. 

      We all need to be careful to remain open minded and reasonably civil.  We all need to self-police our conduct such that we don’t become as vile as the enemy;  shutting down communication is what they do, and I’d rather act with superior tactics and intelligence.  But don’t lose sight of the fact that this banking oligarchy has basically destroyed the lives of millions of people (this is about more than just the manipulation of the PM sector, and that manipulation has enabled the continuation of larger crimes and economic disfunction). 

      We need not sugar coat anything.

  22. Good ole boy Jeffrey looks nervous, as he was the last time he was on silverdoctors. He is quite transparent in his lies in that he goes completely over the top in his position on PMs, which is a little comical to see. Also, he’s dyed his hair since the last time .. well done, but a little too ginger to not be noticed, lol.

  23. It’s a great turn of events, actually:
     
    1. Goldman Sachs calls a top in gold.
    2. Jeffrey Christian calls a top in silver (in an indirect way).
     
    These two contrarian indicators alone should make every holder of physical silver and physical gold jump up and down with euphoric joy–regardless of the short-term price action in the paper markets.
     
    Most important of all, silver and gold never needed any “QE” to outperform all other asset classes, so QE is a meaningless factor for measuring the fundamental drivers of the precious metals.  For more than a decade now, the prices of silver and gold have been rising relentlessly, and the term “QE” was not even invented until recent times.  Ultimately, the only meaningful reason for higher prices in gold and silver is because the demand for gold and silver has outweighed supply, and this can and will continue regardless of QE.  Gold and silver prices keep going up despite the great supply of ‘paper gold’ and ‘paper silver’ created by the manipulators.  Imagine how much more valuable silver and gold will become when this ‘game of musical chairs’ finally comes to an end.
     
    Sleep soundly with your families tonight, all you holders of Gold and Silver.

  24. A broken clock is right twice a day.  Jeff is wrong twice a day. Once when he gets up and once when he goes to bed.
      Doc is just trying to be fair and balanced.  He gets the good guys on and then DA’s like Jeff. 

  25. This is a coded message. Message decoded: there is a massive silver shortage, silver is going to outperform gold. Save in silver! Last time silver shot up this dude said it was going to 13$ an ounce!

    John has a long mustache.

    repeat

    John has a long mustache.

    The resistance is winning on this front. 

  26. I keep hearing how silver and other PMs are overvalued and there is plenty of supply etc etc etc.  However, that seems to be contary to reality.

    A good example is Australia’s Perth Mint.  Many years ago numastic coins were issued in 2oz weights, I know because I have some, then the weights went down to 1oz and now coins are being issued in 1/2oz weights or 1oz sterling silver.  The weight, and purity keep falling despite the supposed glut of silver.
     

    What would I know though?  I’m just a dumb stacker.  

     

  27. I wonder if this guy knew Jimmy Saville.

  28. Jeffrey’s analysis sounds quite plausible. And thorough. That’s because it’s logically sound. However, this doesn’t mean that any and all significant facts are included in his reasoning. Correct by omission. On these criteria it could even be called a valid scientific theory! But a valid theory can be proven wrong and still be a valid theory methodically. Using Popper’s criterium a valid theory must be falsifiable (bye bye homeopathy). Either by one of the premises or some of the stats themselves being wrong or wrongly interpreted, or by failure of experimental testing (physicists and probably ppl in general like the latter). Let’s await the experiment ;-)
     
    He does say many things that are probably worth while facts. It’s really interesting to have a listen.
     
    Like I tried to explain above, his reasoning is sound, if you don’t trip over the elephant! And if no one else does.
     
    Best all,
     
    R3K

  29. So often we temporarily forget that the ownership of silver and gold, along with other precious metals, is a means to preserve wealth in the era of FIAT currency as well as criminal enterprises at every turn.
     This  philosophy extends to land and other hard assets but the unique aspect of precious metals is they have no counterparty risk, are fungible, portable, divisible and will never be worth zero.  Precious metals do not have taxes that follow their ownership. 
    Many buy precious metals in the hopes of quick profits. I’ve learned over a long time period and painfully so, that the road to riches and profit is slow and filled with potholes.  Precious metals offer a means to secure my wealth. If the price goes up by even something as modest as 15% I am happy with that.  There is a good likelihood that it will increase more rapidly but the sun does not rise and set on that hope.  I thinkI can speak for many that your average price is less than the present price so you are probably ahead of the game while still having a window to acquire more at reasonable prices

  30. Even if not AG, it would only be a bother for those who buy PMs as an investment, and a short-term one at that.
     
    Forgot to mention last post: Jeffrey also said this: 
     
    “It [QE] is not going to stimulate inflation *IN THIS ECONOMIC ENVIRONMENT*”
     
    “This economic environment” is the stagflation they want to put us through for years and years to come and world wide. Japan was the model. And of course they want the added liquidity to be confined to [shadow]banks’ balance sheets. That’s how you feign solvency. For a day. Today’s announcement of the ECB becoming the “shit-banks” manager for the EU says it all. Tax payers are going to keep the TBTF alive no matter what they do. Guess what, the ECB has to keep alive the big zombies, but smaller banks can be killed by them at a whiff. Heil HSBC und the powers that be.
     
    I’m ranting again, but it’s so important for ppl to understand what’s going on. The last theft wasn’t big enough. They’re going all out for MORE.
     
    Best, sigh….
     
    R3K

  31. Of course there are multiple nefarious theories as to why the PMs got tally-whacked post QE4 but there is only 1 non-nefarious reason as to why it may have fallen off the cliff ahead of the rest of the market.

    I have watched all of this turmoil and volatility post QE4 in Silver and Gold. There is only 1 plausible explanation as to why we had silver and Gold take the crash they did after one of the most bullish announcements to come out in 2012 to support higher prices for silver and gold. 

    The only non-nefarious logical theory I can think of is that precious metals funds/investors are selling a large stash of their gold and silver hoard (COT report permitting) and then rebuying it before December 31 and before new tax laws are implemented, possibly to avoid any nefarious implementation that could hamper PM investors in Fiscal Year 2013.

    • There is one way to test my theory as well….. If PMs noticeably appreciate by Dec 31, over and above their post QE4 announcement, then I will believe my theory to be correct. (Gold above 1770 and Silver above 34.25)

  32. Please forgive the cross-post. I believe on this occasion it might be justified, as it is relevant to both threads.

    @TruthOverHype Really, there’s no need to be combative, or arrogant or dismissive. We’re all on the same team, we’ve just got different theories and different strategies.
    My strategy is to be 100% invested in metals, but diversified in how I hold them. To this end, I have a mixture of everything. I even have a small-ish trading fund holding ETFs. I don’t indulge in day trading, but I do trade between the metals over the longer term (arbitrage). I’ve studied this sector for over 3 years, and I am happy with my choices.
    By your own admission, you’re looking for high valuations in the precious metals. I mean, in the long term. Isn’t that right? Well permit me to point something out to you. Your method of trading the metals only serves to increase volatility. Our method (and I believe I’m speaking for the vast majority of SD members) serves to remove metals from the market which, ultimately, is the only way you’ll ever achieve your desired high valuations.
    We’re not alone in our methodology, Eric Sprott is one notable example of someone who invests in this way. Individually, we may be small and medium players in the precious metals market. Collectively, we’re a force to be reckoned with. We move the market.
    So, I would ask you to please bear that in mind if you wish to join our community. If you don’t hold with our ideals here at SD, feel free to troll at Kitco forums. You’ll find many more people who think like you do.
    Respect.
    Tawnyard.

  33. Also, keep in mind, the shills like Jeff C. that have predicted PMs to fall the last 7 our of 7 years have been wrong. They have said for the last 7 years that metals would go lower and they have not yet. These industry experts are industry amateurs and their record speaks for it…. they have no record and anyone that listens to these fools ought to listen to me when I say I have a bridge for sale in Alaska that I am willing to sell at 50% off. These amateur analysts are promoting their own agenda and not looking at the solid investment demand increases from Sovereigns, ETFs, ETNs, and from private investors.

  34. Did anyone read the IMF news, incredible! just what we’ve always known all along. Christian is just another Goldman Sachs zombie.

  35. That’s an interesting point Ich1baN   If an entity exchanged something like 1 MOZ in an open market transaction, with a substantial capital gain they might miss that new capital gain tax in 2013. It would be worth it. Dealing in large numbers like this would work if the transaction fee was not too large.  They could reacquire the same silver a day later with the higher basis and ride the next wave.  Gold did not suffer as much as silver.
    Maybe the Chinese exchanges are now engaging in silver shorting to force down prices.  They will most certainly call for delivery or there would be hell to pay.  They have been doing this to gold to extract thousands of tons of gold from bullion banks in the last couple of year.

    • Thanks AGX. It is also of interest to see that the first wave attack post QE4, did happen while the Hong Kong Futures Exchange was open. 

      I did note that the Nikkei popped the morning after QE4 was announced; a massive 160+ point move, which indicates that some Asian Nations such as Japan view the Federal Reserves stimulus exactly the same as the NASDAQ and DOW investors do…. supporting equities. 

      The Shanghai and  Hong Kong Equities inched lower the morning after the QE4 announcement, which suggests they did not  particularly find QE4 as stimulating. It seems that amongst the Tiger Nations that there is their own saber rattling going on. Perhaps a Japan vs. China rivalry as this is a particularly unique rivalry that goes back hundreds if not thousands of years. And, as we all know, China is positioning itself to be the next World’s Reserve currency and Japan is the old dying paradigm (the US of the East, if you will)…. and they like the US, need to cement their confidence in the Yen, just as we (the Federal Reserve) have to reaffirm the world that the Dollar’s purchasing power is here to stay. As counter-intuitive as that sounds because we all know that more stimulus measures means a weaker dollar; but of course everyone loves zombie juice and in a society of instant gratification we need more sugar now!

  36. Jim Rickerds pointed out Goldman Sachs is feeding gold to China and China needs 4 tons of gold, so price won’t move until China has 4 tons. 

  37. THERE ARE NO HUGE SILVER SURPLUSES… ITS AN ACCOUNTING GIMMICK

    I am working on a post tomorrow.  There is no such thing as a surplus in gold (supply & demand equal), however in silver there are surpluses because GFMS doesn’t believe OFFICIAL COIN & MEDAL or NET IMPLIED INVESTMENT are demand… rather they are surpluses

  38. Jim Willie made an interesting comment in his latest Hat Trick letter. He states that there is no supply of gold; only demand and a price point.  The complete rapacity of gold acquisition, lies coming thick and fast, lack of supply for those who call for repatriation coupled with  a frantic but covert accessing of all gold coming from the ground or recycled, with all the suspense of a John LeCarre novel;; access is mostly now by India, China and Russia, taking over 50% of the 4,000 tons of production. The gold availability story is almost moot.  It’s killed or be killed for gold.  Sometimes blood is shed. Banks and institutions don’t bleed but are dying over gold.
    Except for GLD, with a few extra tons a day in their gold paper and yellow dust bunnies, no one has access to gold at will. It takes some serious chops,  force of arms, nationalization or a heavy hand on the short side of paper trading to get some in the vault. 

  39. We’ve been staring at him all day. Please make his face go away. Seriously.

  40. Truth Over Hype.  I just picked on the posts about trading SLV.  You probably know that I got out of paper trading, fired Fidelity and went fully to physical, mostly on the advice of Doc, Ann Barnhardt and Jim Willie.  I traded SLV, GLD, the Direxion Triple X gold and silver funds while selling covered calls against them. I made a lot of money, lost a bunch, got greedy and did not exit in time to beat the odds. But it was a fun run.  I called trading paper and pinching profits and that was what saved me from my losses in the paper game.  The profits bought a lot of silver and gold before the price downdraft caught me with my knickers down.  My only objection to the paper game is the the signs and portents of this market are not good. 

    QE  printing on a global basis will strip the market of its apparent gains. Our dollar will be devalued, if not by our government, but our peers who will call us out for our terrible financial activities at a state and national level.

     The major forthcoming declines in earnings of the S&P in the US and Europe will crush the equity markets when the truth of the global recession and depression hit early next year.  This is only a personal impression but it appears that  before this financial tsunami runs its course a lot of people will get hurt. If you have a system to hit and git, go for it.  I missed the exit bell but then the regular readers know I am not a good paper trader

    • “QE printing on a global basis will strip the market of its apparent gains. Our dollar will be devalued…”
       
      Exactly so, AG.  One look at a pair of charts WILL tell the story to even the most dimwitted among us.  They would be a chart of the US Dow 30 in dollars vs Time and the US Dow 30 in gold vs. Time.  The dollar chart shows a nice rosy scenario where paper investments are growing nicely while the gold chart shows the “holy crap!” ugly truth.  Notice that the MSM NEVER EVER shows a Dow chart in gold terms.  They have their orders, ya know?

      As to the dollar being devalued, that is happening continuously as Bernanke continues to expand the US money supply by at least a trillion new dollars each and every year, most likely until at least 2015. That will be enough time to reach the dollar’s most likely collapse time frame, so no worries about it after that point. :-/
       

  41. “Our favorite cartel shill Jeffrey Christian of the CPM Group is back on BNN, spewing more of his classic BS rhetoric regarding the metals.  Christian told the BNN viewers he expects gold to trade in a range from $1450 to $1750 in 2013, and that silver will trade in a sustained downtrend, claiming that silver demand is weak both from an industrial and an investment standpoint.”
     
    If this twit had the courage of his convictions, he would put ALL of his personal wealth on the line and be short both the SLV and GLD… hopefully in a leveraged short metals ETF of some sort.  Go ahead, Jeffrey, fill your mouth with your own BS!
     

  42. If you ever tried to sell 300000 ounces of silver then you know it´s not such an easy task.

  43. What he meant to say was:  Silver is in MAJOR SHORTAGE, the financial authorities are caught PANTS DOWN short physical metal, miners and silver will outperform gold from here out, and that he is just a lying wind-up doll.

  44. Aye. Look at that picture of Jeff from December. You can’t see his hands, cos he’s holding his trousers up.  ;)

  45. This is all short term noise, you people want to take a chill pill and relax, all will be fine and good, just relax and enjoy it

  46. Just saw this on hall of shame and thought i would see where we are at.  Based on close dec 14 and yesterdays close gold down 21% and silver down 32%.  
     
    I don’t like the argument any more than anyone else here, nor do i like seeing the value of my stash go down… but leaving him in the hall of shame when his call was right by over 10% seems silly.
     
    Just sayin… not whining or complaining, but the guy was right,

  47. 1 year later, Z3 gold closed 1707.50 on 12/14/12 vs 1205.50 today.  Down 502 or 29.4%

    SIZ3 closed 32.545 vs 19.41. Down 13.135 or 40%

    Yet still remains in the hall of shame?

    Enough grumpiness for the night, to bed and can’t wait for my girl to see her 5oz Fiji Taku in her stocking!

Speak Your Mind