Jim Rickards on PM Spike: That’s What Happens When You Take Manipulators’ Toys Away

Jamie DimonJim Rickards on gold & silver’s continued rally overnight Sunday and early Monday while the banks & COMEX are closed:
That’s what happens when you take manipulators’ toys away!

1 oz Silver Buffalo As Low As 79 Cents Over Spot at SDBullion!


Jim Rickards


  1. Okay a few things—
    1st–PM’s have nothing to celebrate.
    2nd–No way I’m getting excited about $21.79 or $1330.
    Just can’t do it. Might get excited when they move 35-50% higher than they are today.
    3rd–Still not in any hurry. Adding at 2010 levels is nice….adding at 2008 levels was better.

    • Some bought the bottom in late December!  Miners that is, and at least GDXJ is up close to 50%, others are way up too.  Already stacked in 2009 -2010, so going back up on that position is nice too.  Together that is plenty to celebrate.  it looks like, fingers crossed, the worst of the correction is behind us

    • 4 oz
      I agree it’s way too early to get excited, silver couldn’t even hold at $22. When silver get back to the high 40′s then I can excited. But right now we’ll see what happens when the Cartel comes in on Tuesday AM.

    • I simply don’t take any stock in the ‘official’ ‘price’ … as far as I am concerned this is the ‘price’ in the Current Paradigm, and I only bought my PM’s for the Next Paradigm. I don’t care if I have to wait another few years, but I also fully expect that these Bank Note Scammers have some other phoenix scheme that they are ready to impose on what remains of the freedom in the world. Central Bankers and their Member Banks will NOT give up their Monopoly on creation of credit with unlimited State Sponsored Insurance (TBTF) without a massive fight, and I don’t see the average American who has NO Gold and Silver ready to fight for those who do. This is why the Media in the West have downplayed Solid Wealth and brainwashed 95%+ of people into working for numbers on a screen or paper and to shun Gold and Silver … the ‘Democratic’ majority will beg for the small percentage of people who stacked to have their stacks confiscated by the Socialist State and declared contraband, so that they can continue to get cheap cool-aid, cable TV and super bowl.
      The US has been Socialist since FDR, we are just better at living in denial than perhaps the EU who’s citizens are just at a more progressed stage of acceptance. However the 2nd Amendment still hangs on!

    • Amazing that at $40 we’ll have doubled on our recent purchases. Personally I never bought any phyz over $33 (I think), and only a fraction of what I currently hold. Most of my junk silver between $27-30. 
      $40 will be quite something for me. But no rush to exit. Fro that point I might swap to some gold, just to see how that pans out, maybe if silver drops I’ll get a bit more back. And palladium might come into play as well, as the silver-palladium may well to drop before we see $40. Right now I just really like silver and can’t find anything better.

    • “Amazing that at $40 we’ll have doubled on our recent purchases.”
      Apparently, you have been buying at the spot price, without having to pay a premium.
      Please share how you have managed to do that.
      I have not found anybody here willing to sell at the spot price, but perhaps where you are at, things are different.

    • @WillNotBeASlave
      “…Central Bankers and their Member Banks will NOT give up their Monopoly on creation of credit with unlimited State Sponsored Insurance (TBTF) without a massive fight,…”
      Oh, they will put up a fight for sure, but my thought is that they may end up cannibalizing themselves and eating their own young here.  Banker deaths belie a failure of confidence that their schemes will be able to continue without uprising and resistance of the masses.  That’s why the wetwork squads are going into overdrive overtime now.  It won’t stop with whistleblowers.  As the story unfolds, betrayal will be everywhere — even at the highest levels both financially AND politically.  We’re already seeing fractures in the system and the achilles heels are starting to show.  For a number of years, they’ve held the system together but now, we are seeing increased levels of desperation in their action… the reason being that the system they’ve propagated is, by it’s very nature, unsustainable.  In the process of pushing this whole world economic and financial monstrosity over the cliff, they’ve calculated a predictable outcome, but they have also plunged the world into a realm of Chaos that is simply unpredictable.  It’s not at all clear to me WHO the victors will be when the smoke clears and the dust settles. There is a clear dichotomy of possible outcomes here.  Yes, there will be the plunderers who will be rich but they may end up disconnected from their power structures in the process.

    • @Mammoth
      You are assuming a lot off things in your question.
      No, I don’t get to buy at spot, I live in the part of the world that pays sales taxes, also on silver.
      However, premium kindof fall away don’t they?
      Do you buy from a dealer and sell back to a dealer? Your party, but not me.
      At $20 spot I’ll be paying $23+ for the very cheapest form of silver available to me. But at $40 spot, I’ll probably get $46 when I sell, to an individual. May seem alien to you, but it’s my reality.
      And since I’ve been buying UNDER $20 spot, YES, by the time we see $40 I will be doubling on recent purchases. 
      By the way, when I sell Maples/Philharmonikers to a dealer, I get spot + 7% over here. May seem alien to you also, but it’s very real indeed. And I’ve never had to resort to that.

    • Don’t get me wrong…I’ve enjoyed watching the charts the last week or so.
      Silver was up what, 11 days in a row? 
      Heck yeah–that’s fun.
      But C’mon…Silver at $21 and Gold at $1320? 
      Gimmie a break…and I’m not talkin’ or lookin’ for  ’Moon Shots’ or any other tremendous phraseology for headlines….. 
      Just saying that Back in 2011 Silver got hit in the f’ing drive by 1st of May,  then again that Fall and then again on Leap Day 2012 and then smashed even more  last Spring, at -Bank Bonus time- last day of June ’13  & last day of December ’13.
      And so being up close to $2 in a week and a half is spoze to make me hard or something….??
      Maybe it gives the Doc something nice to write about for a change…but gimmie a break.
      Silver should be at around $77.82 or so—  by my way of thinking.
      Why is my arbitrary spot price any worse than the CME’s?
      Okay, I’ll tell ya why it’s worse.
      Cuz I’m not buying at that level.
      Not selling either….but right now there is Silver to be had.
      I can still add at these rigged bs prices–and I sure like that!

    • Instead of 4 oz., soon we will be calling you short of oz’s.

    • @WillNotBeASlave
      Socialism is to politics what cancer is to the body, so “more advanced” states don’t really have much to crow about.  They are only that much closer to the end of their current existence.

    • Silver is falling again, looks like the rally is already over. My guess is that it will go well below the $18

    • @Sovereign-Economist >>> There is a clear dichotomy of possible outcomes here. 
      Agreed on that one, but I believe they are different degrees of Chaos, but never the less Chaos … just how elites like it, they live for the hunt I believe. It’s a religious experience for them.
      >>> Yes, there will be the plunderers who will be rich but they may end up disconnected from their power structures in the process.
      This is what they fear most I totally agree, and we can only hope … fingers crossed.
      I share your opinion of the ‘rally’. We have all been acclimated into believing that the current situation is an improvement. This is like falling from the 33rd floor into the roof of the 9th, and your relatives all agree it was good that you didn’t fall the whole way.
      That cancer is about to metastasize and go global IMO.
      I didn’t know this but the Governor of the Peoples Bank of China in 2009 demanded in a speech that the world enact the SDR as the World Reserve Currency, and even suggested that it should be done gradually … it seems Washington rebuffed it and since then the Chinese have gone nuts for Gold and Silver. In his speech however he didn’t mention Gold or Silver once as a reserve … it seems he was happy to go 100% Fiat as long as the USD was dropped as the peg.
      He even suggested in his Speech to the BIS that there could also be issues of SDR Denominated Securities via the IMF which should act as a Global Central Bank! …so I was thinking … How can an SDR Denominated Security be issued if there is no Global Legislative Body with the ability to create a revenue stream from a country via Taxation? The only way to do this would be to enact a Global Government wouldn’t it?
      And which Country would be in-hock to China BIG time as soon as the SDR trade balance sheet was to take over? the US of course … but the US rebuffed them and it seems they are going the Gold Reserve route to create a Gold Pool alternative to the SDR. Either way, if the Chinese Communists wanted a Global Central Bank (Think Communist Manifesto) and that they would be newly empowered in this system, then even if they get this via a Phyzz Gold Pool, I still think this is a BAD idea, as a Global Central Bank means Global Fractional Reserve Banking … FOREVER.
      My worst nightmare, besides a hairy big-boned Bulgarian girlfriend ;( Noooooooooooooo!

    • @Mammoth
      I buy 80% Canadian Junk silver at spot price here in Canada and spot+1$ for 80% dollar coins (0.6 oz). It’s the best I can do for buying silver near spot.  They are very recognizable to canadians and hard to counterfeit. I have many dimes, quaters, halves and dollars. I stack 999+ buliion and trade junk silver. I recently sold a bunch of numis for around 44$ a piece and converted to Junk! Helped my DCA a litlle before prices rise. I would not get much over 44 even if silver where at 30$.

    • I’m not getting excited about the PRICE, I’m just excited about the incredible STRENGTH the market has been showing lately, also considering the ever-enhanced manipulation.
      And yeah, I’m not in a hurry as well.

  2. Unless you want to quit stacking and reach your exit point tomorrow, it’s best for us all when silver is suppressed a few years longer, we somehow deplete JPM’s stash and drive the world into real shortage of silver. Then we get a crazy spike. Now, just keep accumulating as if the bullion bizz is about to shut down on us.

    • The time to quit stacking will be when there is something more preferable to stack.  Until then, there is no exit that does not lead to a deteriorated condition of preparedness.

    • I agree wholeheartely. Everyday I try to think of something else safe and promising, and I can’t come up with anything.
      If you are comfortable putting silver away or 10 years or even longer if need be, it’s a great time to be buying new.
      My current vision is that the Kondratieff cycles seem to be quite accurate, and we’re in a long “winter” right now. By the time winter is over, it will be time to flip our PM’s for real estate and/or stocks. Or invest into an entreprise of our own to grow. Perhaps a mix of all 3. It will be hard to let go of the stack, but it’s important to have our sights on the goal, not just the means. 

    • @XC-Skater
      Will you hurry up and stack already? I’m ready to get this show on the road NOW … LOL!

  3. Wake me up when silver passes $25, in the meantime I will keep on buying whatever I can afford

    • Mary, keep your eyes peeled for more Mercury Dimes!

    • Indeed.   They ARE such cute little fellas.  Good way to make change and small purchases.
      Mercs are nice but I also buy Roosies.  They have the same silver content of the Mercs, if not the classic images on obverse and reverse.  One look at the edge will show that you have 90% silver Roosies and not pot metal Roosies.  They also weigh a bit more.
      But 90% silver quarters and half dollars are also great coins to stack.  I like the Statehood proof quarters a lot and they are often cheaper than the Washington quarters but have the same weight of silver in them.  As proof coins, they tend to be VERY shiny, which is nice to look at.  I like all halves but the walking liberty halves are the best looking of the bunch IMO while the Kennedys are the lowest cost halves.

    • @Ed_B
      Stop talking dirty … you’re turning me on … LOL

    • @WillNotBeASlave
      “Stop talking dirty … you’re turning me on … LOL”
      Lol… not talking “dirty”, here… talking MONEY!  :-D

    • @Ed_B , @WillNotBeASlave , the issue with Roosevelt Dimes is you have to carefully examine the edge or – better yet – the date, to ensure that you are not holding a sh!t-sandwich in your hand.  Whereas Mercury Dimes are all 90% Silver.
      Having said that, up until very recently Provident had a deal, where if you included a roll of BU Roosevelt Dimes in your order, then the whole order would ship for free.  So yes I do own a few ‘Roosies.’
      Ed I am 100% with you on the Walkers.  Too bad most of these are so worn-looking.
      (Less worn-out looking than those Barber ‘smoothies,’ though.)

    • @Mammoth
      “… the issue with Roosevelt Dimes is you have to carefully examine the edge or – better yet – the date, to ensure that you are not holding a sh!t-sandwich in your hand.  Whereas Mercury Dimes are all 90% Silver.”
      Yes, I can see how that would be a problem for the sheeple but… those who prep and those who don’t will either know or VERY quickly learn the difference between 90% silver Roosies and pot metal Roosies.  Considering the magnitude of the “issues” we will all face if the SHTF, this seems pretty low on the problem totem pole.
      “Having said that, up until very recently Provident had a deal, where if you included a roll of BU Roosevelt Dimes in your order, then the whole order would ship for free.  So yes I do own a few ‘Roosies.’”
      Yep, they are a common coin and it is possible to buy good looking ones that are still cheaper than the well circulated Mercs.  I have a few rolls of proof Roosies and a couple of $100 bags of BU grade Roosies in my hoard.  I do like the look of the Mercs, though, and have maybe 40 of them collected a few here and there from various sources plus one roll of XF grade Mercs that I got as part of a deal.  They are pretty nice, yet still only worth whatever 0.072 ozt. of silver will buy… unless another collector is willing to pay more.  Not that I am especially interested in selling them, of course.  :-)
      “Ed I am 100% with you on the Walkers.  Too bad most of these are so worn-looking.”
      Yes, a lot of them are worn pretty badly, but there are also some available that are Fine of Extra Fine grade if one is willing to pay up for them.  In most cases, I try to buy the max amount of silver I can get for the money I have to spend.  This is why I only have a few Walking Liberty halves but 1000 or so of the Kennedy halves.  They are all BU grade but still cheaper than the XF grade walkers.  Still, there are times when I just HAVE to buy something a little different or of a higher grade than usual.  I seldom buy circulated coins even though they are quite a lot cheaper than the BUs I prefer.  I like the fact that Provident is now selling BU grade 90% US coins and not just Apmex.  A little price competition in this segment of the bullion market is nice.  :-)

  4. One good thing about Rickards in this post. It was short.  A tweet.  thank goodness

    • Yeah, I hate to hear him constantly repeat himself too. He doesn’t usually have anything new to add to the picture, just simply repeats the same old Currency Wars spiel. At least Jim Willie goes into some new news and discusses month to month implications of certain events. The fact that Rickards usually brings up IMF solutions when he has something to say is telling.

    • lol @AGXIIK
      Your reply was uncharacteristically short, too!
      Did you finally graduate from @MaryB‘s School of Prose?  :D

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