Once again after trading in a tight consolidation range throughout the Asian and London sessions, gold and silver have just been greeted with a vertical Demon Drop Waterfall smash, sending gold back to a $1300 handle, and silver to $22.41.
A re-test of the correction lows of $22.005 and $1320 appears imminent.

The cartel has gone back to work the very morning after Jim Sinclair’s chartist Bo Polny proclaimed that the turn date had passed and that the bottom was in for both gold and silver:

 

Silver plunges below $23 to $22.41:

silver

 

Gold’s vertical drop to $1392:

gold

Today’s latest waterfall strongly suggests that the correction in the metals is not yet exhausted, and that particularly in silver (but likely also in gold) a re-test of the low of $22.005 is likely.

 

 

  1. I would imagine a lot of PM retailers just bought a whole bunch of Silver and Gold Eagles.
    Must suck to see that inventory falling in value with these takedowns. Maybe they’ll have to lower their premiums to get it off the books. :)

  2. I would hardly call him a chartist.. the market humbles everyone who thinks they can nail a bottom. 
    Bo, said he will only post one more time on Jim’s thread a day before the top… afterwards you can email him. Why email him because he will tell you he now offers a subscription service for 20K a month if you like to dabble in options.

    • Dont worry, Old Jim and BO will be saying the charts were right, its just the cartel manipulating them to make them loook bad.. ya faking right. 
      Jim, doesnt really know whats going on as he relys on others work to attempt to nail “tops and bottoms”. This whole new show of BO has  revealed to me a few startling revelations that has made me see Jim in a whole you light. 
       

    • Both a pair of idiots. Jim got lucky and suddenly he is a ‘legend’. WTF!! This time he is proving to be an absolute buffoon who knows absolutely nothing about gold and silver. He’s a pusher…. and now he’s personally losing he’s becoming more desperate, hence his ridiculous calls for $50k gold and the like.
       
      Please don’t give charlatans like Sinclair any more mention here. He’s dragging everyone down. His claims are wacky and it just gives TPTB more rope to smash the prices further, resulting in him looking like any even bigger buffoon than he already is.

    • calling tops and bottoms is for amateurs.. everyone knows that its not possible.. if you nail the top and say you sell out everything that you own at the top.. what it really means is that you got lucky, had inside help, or the flip side- you JUST missed the waterfall decline… 
      Jim’s legend of having nailed the top in the 70′s was luck IMO with a bit of help from god knows who given that he is a seligman. 

  3. I’m not inclined to believe any predictions these days except to say this entire cycle is predictable in that everyone is trying to get a handle on it.  Fuggedaboutdit.  Buy when you can and be happy you are offered this deal. Silver price of $22 is fragile since there is nothing, including supply scarcity, to push prices higher.
    PMS–maybe your prediction will come to pass that silver will hit $18.   Now that would be something to see and $20 would not suprise me.     If the GSR ratio holds at 60 to 1 or higher there would be some righteous opportunties to covert.   If the DOW takes a big dump, this would drag down the PM paper prices even if the supplies were none existent. 

    • AGXIIK, im not sure why you keep saying that you cant get silver, that its scarce … I just need to go to TD canada trust, or scotia M and get silver there.. they have tons of it… So i dont buy this bullshit theory that there is no silver out there. I warned years ago, while people were still pumping silver WHEN WE JUST HAD A PARABOLIC RUN, that it would crash and energy needs to come out of it.  This is happening.. if we get to 20, my call was good enough in my eyes. 
      These predictions, and slimy subscription services make there money not from trading or holding metals, but by selling services. I would be more inclined to be a better contributing member, but the fact that doc publishes these bullshit articles by the sol called gurus makes me jaded- im sure you are well aware of that. Week in week out they have been constantly saying htat the bottom is in as we went from 50 to30… i wonder how may bought as these levels and are now testing their pain threshold… IT IS ONLY NOW>.. that these sol called gurus (*hubbard and thompson) are stating that hey we may actually see 19 dollars… geez good work helping  your subscribers. 
      My opinion, and take it for what it is, we will not have another parabolic rise in the near future, we have alot of chart damage and we need to do work to fix it. We need the crowd to get back into it as they have left.. prices wont go up if the crowd is not in it. this will take at least a year and a half. 
       

    • I AGREE. THERE IS PLENTY OF SUPPLY. ALL THE USUAL SUPPLIERS ONLINE ARE FULLY RESTOCKED IN BIG QUANTITIES. I HAVE BEEN MANY REPUTABLE DEALERS HERE IN CANADA AND THEY COULD SUPPLY ME WITH VERY VERY LARGE ORDERS WITH NO OR LITTLE WAIT TIME. THERE IS NO SHORTAGE OR SCARCITY THAT ONLINE DEALERS WOULD LIKE US TO BELIEVE. 

    • Price is reality? LOL. Really great to see the PM trolls are now running wild on this site too. Pretty soon it will look like Turdville.  :/
       
      Looks like I’ll be spending far less time around here debating with these buffoons, idiots and fools who have no idea what they are talking about. It makes me sick to read this garbage after 15 years of watching this fraud ridden shit show in gold and silver.

    • Ranger, go to the beach and check out how much sand there is. Go to the mountains and check out the amount of granite available. Let me know how much silver you find.

    • @ Iluvpm’s who wrote…..
      “My opinion, and take it for what it is, we will not have another parabolic rise in the near future”
       
      You nailed it, man. Glad to see there is another person out there who reads the charts and has seen with his own eyes that Silver ALREADY went parabolic. I don’t think anyone will like it when they hear that is usually a signal to exit precious metals. I certainly won’t encourage that line of thought nor suggest it but on the other hand I am no longer a buyer until this carnage stops. The odds of more than one parabolic rise in silver inside a year would be so unprecedented it is virtually an impossibility. We might need to put away the party streamers for awhile as the message is not positive for the near term future of gold or silver.

    • 2013-2011 = 2
       
      Silver could go parabolic but with the china slowdown happening it looks less likely. And the crowd was never into silver or gold. Silver just had some hot speculator momentum money pumped in. Now the momentum players have gone short. They can of course get shorter, but at least they are on the right side of the boat.

  4. Folks, gold and silver are going much much lower and I believe this will drag out for many years. Precious metals were a very serious threat to the elite and a plan had to be devised to smash the prices. Yes, we may only be talking about paper prices, however it makes no difference what the physical price should be as stalemate will result.
    It’s a similar situation to UK house prices. TPTB don’t want a house price crash hence the media coming out all the time stating house prices will soar. The paper price is probably 50% over-valued to what the real price should be. That has created an all time low number of transactions with property sitting on the market for years, and in many cases asking prices actually increasing, with no sale. Stalemate has resulted and has been like that for around 5 years now with no sign of movement.

  5. Nice capitulation mode gents… Jim n Bo are toast cause of this latest smash huh?
    Apparently it’s never occurred to you that the usual suspects read Sinclairs’ site with great diligence – and respond with great vengeance to every prediction he makes. Bo is just adding more kindling to their fire. They drop the price…. they drop their pants. We get over with it more quickly. My how easily some are dissuaded from keeping the faith!

    • No capitulation with me. Gold and silver are 100% controlled and manipulated. It is clear from stacks of evidence that they want the prices smashed, and so that will be the outcome. Gold has had a very good run, and it is not unreasonable to expect the price to drop to $400 over the next 5 years or so. The price of anything is only what TPTB say it is, and unfortunately in this computer and internet world, it is even easier to rig the game.
       
      Like fiat currency, gold and silver are largely useless. Silver doesn’t have as big industrial necessity as what many people claim. Yes, it’s a great conductor and all, but newer technologies have shown other ways to do things without the need for silver. 

    • price is reality… the cartel dont drop the price because of jim.. take the tin foil hat off.
      Best summation of the situation I’ve seen yet. Once a mirror is applied!
      price is reality! … reality is what your opponent convinces you to believe it is.
      cartel  does drop the price exactly because of Jimbo... the pettiness of these players apparently escapes you.
      take off the tin foil hat. \\\\no hat required – to see the evidence in front of ones’ eyes. Rational analysis of the present situation will tell you that the only people more desperate than the poor metals holders right now – are the bullion banks and their allies in the mining sector. They’re presently pulling out all the stops to stave off the inevitable.
      Either you haven’t played much poker… or… that’s exactly what you’re doing here with the poor stackers.

    • Too damn funny Hedgy. Do you really think J Sinclair is that important? Nobody serious listens to him anymore!! Let alone the powers that be.

    • Hey @purplesky
      first off, love that SN! But can you name ANY technologies that exceed Silver in Conductance? I know of one other item that is supposed to exceed Copper’s conductivity, (other than Silver) but it’s fairly new and was not claimed to conduct more than Silver. PS: I am an electrician and lots of experience and r&d in the field, and this would be NEWS TO ME! Just Sayin’!

    • Too damn funny Hedgy. Do you really think J Sinclair is that important? Nobody serious listens to him anymore!! Let alone the powers that be.
      laugh away …nobody seriously buys all those tickets for Jim’s wandering minstrel show all over the place! Must be the Sunsteins what buy em all up huh?
      Seriously dude… Jim is a one man army propping up the spirits of thousands of guys who woulda already thrown in the towel(LIKE THE CREW HERE SEEMS TO HAVE!) if not for his leadership. And the Beagle Boyz know it. Just why are you working so hard to convince the poor stackers here otherwise?
       

    • Assuming that the cartel does smash prices in order for Jim’s predictions to be wrong, wouldn’t that be even MORE reason not to trust in them? It would be a lose/lose proposition.

  6. At this point in time, the spot (paper) prices of Gold and Silver are irrelevant to anyone with an oz of common sense.  The whole world is printing fiat ‘money’, with increasing amounts each day.  History is not on the side of fiat ‘money’ retaining any value, and human nature has not changed in all of history.  In due course, fiat ‘money’ reverts to its intrinsic value: Zero (0).

    Right now, the job of people is to accumulate as much real money as possible, in the form of physical precious metals Silver and Gold.  Accumulating stuff does not work, because stuff decays in time and cannot be counted on to be a store of wealth.  There are very few things in the world that people can accumulate and keep at home, that will retain value without much effort, and that is private and quite easily safeguarded.  Silver is the best bet, and Gold if anyone can afford it.

    No one need worry about the recent currency price drops in Gold and Silver.  Remember that the currencies being used to price Silver and Gold are fiat currencies printed out of nothing.  When one understands the concept of money, fiat currency is really no competition for the real thing.  It is really not a hard concept to understand, but it is a very difficult reality to accept.  That the currency prices of Gold and Silver are going down just means that physical demand is and will be increasing.

    Sell your physical Silver and Gold if everyone is starting to sell; but right now, no one is selling physical precious metals, only the paper kind.  In fact, it is logical to assume that people are actually selling paper Gold and paper Silver in order to buy physical Gold and physical Silver.  REMEMBER: It has been said that for every 100 oz of paper metal, only 1 oz of real physical metal actually exists.  It is only a matter of time before this process comes to an abrupt end.

  7. I’m more of a boots in the street person today, ILUVPMS,  and have polled several dealers in the local area as well as some larger regional dealers as to their prices and availability in order to gauge the reality of the situations.  What was once an inventory availability with immediate delivery of up to 1,000 ounces with a price of $1 over and a buy back price of spot, I’m seeing quite the opposite. 
      The results of these conversations tells me the LCS are almost completely out of silver, or with a hundred coins and are waiting for weeks to secure supplies. This is not a broad spectrum poll  but it did give me a sense of what these dealers are seeing.  Some of these businesses  deal in 7 figure sales per month prior to this shortage. Their present  prices are $3 over spot with 4 week delivery.  I don’t think it’s a situation where the dealers are sitting on inventory unless that LIFO inventory was bought at a considerably higher level a few months ago. No one wants to lose their butts on a trade.
      Since Nevada is the silver state, this supply crunch is even stranger though I did see inventory from  mine producing their own 3 oz ingots for sale at around spot at the time. 
    But I not saying silver is unavailable.  It is and I got some from SD Bullion with a gold trade. It will be here within a few days and the trade was executed about 3 weeks ago.  Delays in delivery are expected but it doesn’t concern me even if it takes 4 weeks to arrive.  These purchase just add to the inventory and stack plus allowing a dollar cost average downward.  Prices are reasonable at $2 over.   I am selling about 50 oz to a local person for $27 an ounce but that gig is just so I can move some ounces for a reasonable markup and my  locals can get silver immediately.  There is no paper trail either.  They want to pay cash so I hold the silver until they have that cash.  I do the same for ammo but in that case there is no markup.
    In the larger picture I am more worried about the global situation, currency wars, hot wars, the DC scandals and banking theft than the price of silver.  That smaller issue is a side bar to the larger problems we are facing.

    • I’m probably going to order a couple of tubes of generics today. I see 510 bucks per tube of 20 for 3 different types. Pretty fair deal.
       
      EIther way a supply shock up the chain ( 1000oz ) would go a long way to breaking this party.

  8. As much as I’d love to say the spot prices are irrelevant, the lower the spot price, the less you pay for metal. Until the system breaks this is the way it works. Our metal is all wirth way less on the open market, because of satanic bankers.
     
    I’ve been called out for hoping the system breaks. This is why I hope it breaks, then the paper price is irrelevant.

    • Unfortunately, the system could only break if the bankers allow it to. Doesn’t look likely from what I can see. The manipulation is blatant for all to see, yet it carries on regardless.

  9. Probability:-
    Today Bear Bar, Thursday Pull Back and Friday another Bear Bar and prices will be below 1300 and 22 for Gold and Silver respectively by end of the week.
    Did I stack? No. Will I stack? No.
    Is it bottom? Ask the whales!
    Have a safe trading.

    • Below 1300 for gold and 22 for silver seem likely, sooner rather than later. We’ll then be looking at below 1100 for gold and 18 for silver. Don’t know where things will land, but below $400 gold and $4 silver are likely.
       
      You won’t be able to actually buy any physical for these prices, but it won’t matter as the markets will be killed at this point with no demand whatsoever. The message going out is simple: gold and silver have no value, like any fiat currency.

    • And pretty soon we’ll all be contacting garbage disposal companies to come and take our silver to the dump, right guys? Bay of Pigs and Crissy are right, this thread is plumbing the depths of the septic tank.
      Have a worthwhile thinking.

  10. Well, as usual Gold Fixing cartel in action-London time afternoon. I am just curious, when paper gold falls to 0, would our so called “authorities” and “law enforcement agencies” do anything? Because it cannot become more absurd than that.

  11. DONT LOOK NOW BUT KING WORLD NEWS HAS ANOTHER PREDICTION. GOLD SET AND READY TO SOAR..LOL…GOLD AND SILVER ARE GOING TO GET HAMMERED DOWN MUCH FURTHER. SINCLAIR AND HIS CIGA PONY AND HIS CHARTS HAVE NOW PROVEN TO BE WRONG ONCE AGAIN..DEAD WRONG. PERIOD. DOLLAR IS STRENGTHENING AS WE SPEAK. US EQUITIES ARE IN A BULL MARKET AND NO INFLATION IN SITE AS FAR AS THE EYE CAN SEE.

    • SLG is a Cass Sunstein/Obombass administration paid troll.
      ——————————————————————————————————————————————–
      “Cass Sunstein, the Regulatory Czar, had suggested, in a 2008 paper, that government agents, or allied groups, infiltrate and undermine groups that spread “conspiracy theories.”

      In a 2008 academic paper, President Barack Obama’s appointee to head the Office of Information and Regulatory Affairs advocated “cognitive infiltration” of groups that advocate “conspiracy theories” …….

      Cass Sunstein, a Harvard law professor, co-wrote an academic article entitled “Conspiracy Theories: Causes and Cures,” in which he argued that the government should stealthily infiltrate groups that pose alternative theories on historical events via “chat rooms, online social networks, or even real-space groups and attempt to undermine” those groups. ” 1

      1 http://conservativehideout.com/2010/01/17/czar-wars-trolls-cass-sunstein-advocates-“cognitive-infiltration”-of-groups/
      ——————————————————————————————————————————————————————–

      Another article describing what job SLG is paid to do: Obama Information Czar Outlined Plan For Government To Infiltrate Conspiracy Groups: “Put into English, what Sunstein is proposing is government infiltration of groups opposing prevailing policy,” 2

      2 http://www.prisonplanet.com/obama-information-czar-outlined-plan-for-government-to-infiltrate-conspiracy-groups.html

  12. That is key word, there is “no inflation” or inflation worries. Who cares if CB’s have printed trillions of currency units, there are no negative results from all of the money printing.
    We might not have any inflation for many years, the dollar is the best of the major currencies, the Yen is toast, the Euro has major issues, a major dollar rally is not good for gold or silver.
    There are better investments in a low inflation economy,  I admit I was fooled as well, I really expected some real inflation to start by now, I was wrong.
     

  13. No need for defensive comments, but supply is not tight anywhere I have been since Friday, 2 states/5 major cities. I picked up 100 halves for $700 over the weekend and yesterday bought multiple rolls of dimes & quarters under spot. Today I found a shop that stated they have lost over $10,000 on a kilo bar of gold that they have been trying to sell for months, then the guy pulled out rolls of ASEs he was willing to sell at spot due to no interest in the metals. Some of you make it seem like I am just lucky to find these places but I travel all over the US. In the last month I have posted at least 10 shops I had been to in just as many states that have supply they would be happy to sell at a loss but there are no buyers. Im starting to think you guys are just unlucky. Every report I read show supply up and demand down, could it be that the drop in price is fully warranted and there are no conspiracies? Maybe brokers want the appearance of a shortage to keep someone buying.  Im buying so no need for rude comments, but I only buy UNDER SPOT and I have no problem doing that.

    • jiggysmb is a Cass Sunstein/Obombass administration paid troll.
      ——————————————————————————————————————————————–
      “Cass Sunstein, the Regulatory Czar, had suggested, in a 2008 paper, that government agents, or allied groups, infiltrate and undermine groups that spread “conspiracy theories.”

      In a 2008 academic paper, President Barack Obama’s appointee to head the Office of Information and Regulatory Affairs advocated “cognitive infiltration” of groups that advocate “conspiracy theories” …….

      Cass Sunstein, a Harvard law professor, co-wrote an academic article entitled “Conspiracy Theories: Causes and Cures,” in which he argued that the government should stealthily infiltrate groups that pose alternative theories on historical events via “chat rooms, online social networks, or even real-space groups and attempt to undermine” those groups. ” 1

      1 http://conservativehideout.com/2010/01/17/czar-wars-trolls-cass-sunstein-advocates-“cognitive-infiltration”-of-groups/
      ——————————————————————————————————————————————————————–

      Another article describing what job jiggysmb is paid to do: Obama Information Czar Outlined Plan For Government To Infiltrate Conspiracy Groups: “Put into English, what Sunstein is proposing is government infiltration of groups opposing prevailing policy,” 2

      2 http://www.prisonplanet.com/obama-information-czar-outlined-plan-for-government-to-infiltrate-conspiracy-groups.html

    • This clown is troll or bot. The caps are a dead give away.
      Good call Pigsy! But I don’t think this place is ready for our rough n tumble calls… watch out or you’ll get your ass banned here too!
      Speaking of which… if you catch this msg.., let the brothers over at Tylers know I’ve been locked out… apparently for droppin another bunkerbuster of truthtellin onto the coupsters who be making the place over into another HuffPo. Tell em that ‘the JoyBoy’ ain’t gone quite yet… I’ll be back!

    • @$$$$$$$$$ At least you admit this is a Conspiracy Group, that is a good start.  It is not my job to show people the things mentioned for the past 2 years have all been hopeful thoughts to say the least.  Poeple have been talking about the end of the $ for many many years.  Sure buy some silver, gold is better, but dont put all those eggs in one basket.  I am sure the majority of the group that used to be here 2-3 years ago is gone now due to reality slapping them in the face, the rest here now seem to be alter egos of one user who likes to quickly reply with the same old rebuttles day after day.
       
      @hedgey you were banned for good reason

  14. Always wondered what the roller-coaster of serious price corrections would feel like.
    Now i know.
    When the silver rocket crowd are now totally depressed, talking about nominal price going to zero, then i think the sentiment-cycle clockface that i was warned about, is just about at the despairing 6 o’clock bottom position (maybe 5 o’clock, if there is still room for more correction)
    Chins up fellas.
    Its what secular bull markets do.
    Maybe even 3 steps forward, 2 steps back (61.8%!).
    If you’re feeling sick, sell some, and buy back more ozs at cheaper price.
    It will make you feel better, actually wanting the price to drop.
    The DOW/S&P are due to crash late this year, or in an overdue 2014.
    Make sure you have some cash ready.
    Ive tried to follow charts for predictions, but in the end it would seem that psychological sentiment trumps fundamentals, which in turn trumps technicals.
    and TPTB can influence sentiment to a large degree by scaring ppl out of markets, but they cant keep the facade going forever.

  15. I live in a major city with 2 easily accessible stores that sells bullion gold, silver & platinum. One store has a lower premium than the other about 50 cents for silver ounce. I bought from both stores the last 2 weeks. The lowest premium for silver is $6.00 per ounce for ASE, Maples, Philharmonics, Bisons – and minumum quantity of 20-25 per tube. For single ASE, etc. their premium is $10.00 over spot. For generic silver rounds and bars, premium is $3.50 over spot, any quantity. For 10-oz silver bars (NTR, Sunshine) premium is $2.50/oz over spot. 
    I bought a few ounces of silver, both coins and generic rounds. What I can afford at the moment. To stash away, for a rainy day. Kinda like forced savings for me. These 2 stores did not give the impression of having a short supply of ASE … although silver maples were out last week, but back in stock this week.
    The way I see it, if the premium is high enough (or the buyer is willing to pay) there will be available supply.

  16. Nothing like a drop in the manipulated tree and ink combo pack to bring out the shills and know nothings. I stack for the day we true stackers stack for, and we know who we are, don’t we? All others crawl back under your rock and STFU.

  17. None of these guys has any idea where the price is going. Their charts and analysis are pretty much useless as has been their commentary over the past two years. David Morgan said on multiple occasions: “I don’t see silver ever going back under $30.” This dude has been dead wrong along with a bunch of other”experts” out there. It would be wise for them to just stop trying to analyze and understand this market when the entire thing is rigged. The cartel has proven that they are in total control on no amount of bullish fundamentals or physical demand can change that. The Fed makes the price and we can’t fight the Fed. I know that now, just wish I had known that three years ago when I started stacking. 

    • I realize I am probably just talking to myself here and few will listen since it is human nature to think you know more than the next person. Humans seem to have to operate in such a way, a left over from the primitive brain, but I will try anyway. David Morgan knows that when he lays out a prediction, as do most of the ‘gurus’, that it is just an educated guess based on what logic and information is available. These people do this for a living and have access to other people’s thoughts that we could only hope for. They are not on the inside of the corrupt system so it is understood from the beginning that those predictions could be skewed by many other uncontrollable factors. If you don’t understand that then you should not even be in this game. They usually make disclaimers that they could be off by certain factors, but many seem to ignore that and proceed to find evidence to the fact by holding them to standards they don’t even hold to themselves in their investment decisions. When people take the kind of posturing toward these people I ask, “Do you have more money or make more than them?”, if not then who the hell are you? There are many suppliers and dealers that have to make a living and will sell below true market value just to keep their operations going. Looking on ebay I see that Morgan is not that far off. I would not think about selling below $30 and neither would most that have been in the game for as long. There is what is called ‘an opportunity’ when the price discrepancy is what it is at the moment, taking advantage of the price gap. This is similar to how the big boys are doing it by getting the price low in the west and selling it to the east at a premium. Their game will continue as long as they can make $$$ and will end when it is no longer profitable. These are greedy bankers doing this, and they want profits, by whatever means. This game of silver stacking is not one of buying a boat load, waiting a few months and cashing in profits. It is a wait a long time and eventually you will be better off. I am way ahead of this by doing that exact thing. I am more than double over the last seven years, and that use to be considered the standard for a good return on investment, even though silver stacking is NOT and investment. Staying even over the long term is the goal and having something of value when the currency crashes is the end game. I could go much more into this, but it reaches a point that speaking into the ether falls on deaf ears and the humans continue their quest into their legendary minds and self importance that creates an impenetrable barrier that I do not have the desire, nor the energy, to try to overcome.

  18. Its not surprising to read alot of highly emotional blogs given that prices are coming down, thats human nature. I would suggest that calmer heads need to prevail here. In respect to Jim Sinclair i think his overall assessment of the future price of Gold n Silver is still correct, even though his current predictions are off(which i wish he would stop doing frankly), but his overview of the future price direction is correct. How and when that happens(nobody knows), but i strongly believe history will show that the strong patient hands will do VERY well, and we may have to take more steps backwards before we hop on the elevator, but there is way to much evidence out there now not to see it any other way(in time). Silver has’nt peaked yet, not even close. Relax, be patient.

  19. If we step back from the precious metals situation just a bit, it seems to me that the issues that brought us to begin stacking have not been alleviated one bit.  Nothing has been done to fix anything (except prices)  The governments and the international financial system are STILL heading for a wall.  And, one day, they WILL hit that wall.  This was easy for us to see when our holdings were higher… no pain… so why doubt the story?
    Ok.  our holdings are worth less now.  Based on what?  Has the story changed?  Have the circumstances improved?  I don’t think so.  So the thesis upon which we relied to start stacking still remains intact.  The desperation of these smashes demonstrates that we had it right then.  We still do.
    Physical is going east, out of Western control.  Period.  Well, guys, Not MINE… and not YOURS.
    Using this forum and these comments as a contrarian sentiment indicator, it would seem we are certainly closer to a bottom than we have been for awhile now.  For me, I’m thankful for the discount purchase opportunity.  If we aren’t on margin with our holdings, then no worries.
    There are way too many smart people saying that the system is in the process of imploding for me to think it won’t.
    And, when it does, I want to make goddamn sure I am in tangibles I can eat, drink, shoot, or trade/barter with.  I assure you, the dollar won’t be one of those four tangibles.
    Look folks, it’s taken these luciferian bastards about 100 years to get us into this mess… and it sure as hell ain’t gonna play out overnight.  Our job isn’t to win right now… it’s to dig in and make sure we are among the survivors when it’s time to pick up the pieces.  You will never convince me that our metal stacks will be anything but an asset to that goal.
    This is a PSYOP!  It’s a last-gasp psyop to prolong the dollar’s credibility while they get the last of their ducks in a row.  It should not dissuade any of us from staying the course.  Instead, it should reinforce the correctness of our convictions.
     
     

  20. I agree with Sovereign Economist and Whodareswins. Everybody needs to step back and relax. Many here are allowing themselves to be beaten by the cartel. This is what they want you to do- capitulate. What we are seeing still has awhile to play out, and what is clear to me is that they are desperately trying to cover their short positions- this desperation that we are seeing is positive, and should be expected. Remember, much supply that they anticipated from Kennecote and Pascua-Lama is not materializing. They know the jig is up, and I’m convinced this is what it’s currently all about. Think ABN/amro, think Germany, think of the metal being sucked out of the GLD, and then step back and be calm. Be right, and sit tight. For those talking 500 gold, every gold mine would be shuttered at that price. Have patience, just like the Chinese. Don’t krap all over KWN, everything mentioned there is correct in the absence of the manipulation. I too wish that people would shelve all their predictions on timing, and instead just focus on the global economy and fundamentals. We all understand the manipulation, and that charts are useless in this environment. However, this cannot, and will not go on forever, but you will need to have much patience, and the testing of your patience is not over by a long shot. The fundamentals will ultimately win the day.

  21. Let me just add one thought as a post-script to all this.  There is a generally accepted view that there is no longer any gold in Fort Knox (think nerve gas)  — that the 8133 Metric Ton gold reserve is a fiction.  If true, what possible incentive does the US Government have to hold up the gold prices.  They’ve ‘given’ it all to Eastern interests in the name of preserving the Dollar’s world reserve hegemony.  Now, they’d have a double interest in devaluing it as fast as they can and as much as they can.  It’s scorched earth!  Remember that Bernanke answered Ron Paul’s question, “Is gold money?” with the word “NO.”  For his sake, he can’t afford to be wrong.  What is the only way for him to mask the truth that the emperor truly has no clothes?  Naked SHORTS!
    How ironic.

  22. Buy the ticket, take the ride. Worst case scenario 20% haircut for 2 years, then 22% increase in year 3. Just hang on in there, if you can. Fundamentals don’t lie, the western sun is falling down. There is nothing that can be done for the system, this is the death rolls of a dying croc. Just wait by the shore and when the thing has stopped thrashing, wade on in there and get your croc boots. Stop bitching and be a man about this. There is nothing that I have seen in any data that says the economy has improved to the point where I don’t need protection from a monetary system outside control. If anything this to me is the perfect contrarian position. Doesn’t mean I am buying any more, I filled my boots up first major dip.
     

  23. If it is any consolation, Jim put 32 million of his money last year for 3000.00 gold. Might be stuck awhile under 1500 gold, Jim. Please select ctrl-alt-del to subscribe to my newsletter calling for 19.00 silver, 1000.00 gold.

  24. I only contribute where contribution is needed,  a contribution of 2 chickens with a head, feathers, beak, feet  etc will be appreciated. Just think? No websites, no commitments, no socials, & no problem.   Please avoid trolls at any cost; ok?

  25. Ezekiel 7:19
    They shall fling their silver into the streets, their gold shall be treated as unclean. Their silver and gold cannot save them on the day of the wrath of the lord. They shall not satisfy their hunger or fill their stomachs with it.
    My work college knows i’m invested in silver and sent me this in an email today, shes quite religious, maybe she knows something i dont?
    If i see anyone flinging their silver i’ll probably be running around picking it up, actually is’nt that kinda happening now? Mental note must go buy some seeds for planting, maybe those crazy preppers are onto something…
     

    • @whodareswins  It is always important to put scripture in context.  Taken out of context the meaning can be distorted and it’s easy to be deceived.  Ezekiel 7:19 is a perfect example.  In context the prophet Ezekiel is talking to the people of Israel about God’s judgment.  ‘On the day of God’s wrath your silver and gold will not save you.’  Meaning you need to have your spiritual house in order before that happens.  It has nothing to do with God’s opinion about gold and silver. 

  26. Crissy I don’t think you are talking to yourself.  It seems that we stackers are an independent strong willed breed which likes to engage in debates.  It’s probably unlikely that most of us use expensive ‘genius’ investment letters, preferring to use what’s between our ears to figure things out.  I’ve fired lots of advisory services from the past years since they have no idea of what they are talking about or even relevant to what we are seeing in the world today.  And that  the papers that are no shills for the present paradigm. 
    It’s probably not a good idea to take investment advice from someone whois broke or has less investment in the game than their clients.  Those that are uber wealthy and try to provide advice may have TOO much information. This makes their advice confusing and scattered since there are so many places to put investment capital.  I prefer the KISS rule.  Stack, research, stack some more. Lather rinse and repeat.  And have some fun along the way.

  27. PS  I am thinking of setting up a subscription based newsletter using my predictions that have prove so successful in the past, like buying silver at $35 and then rationizing the mistake.  I plan to use only those predictions that were correct and at least 1 month in the past.Like many investment letter editors, I’m really good at predicting things that have already happened. That way I can take credit for being right 100% of the times.  Payment for this subscription will be in gold.

  28. @ Uglydog, I take your point on board though i was only referring to an email i recieved from a work college, i’ll be happy to correct her next time i see her. I’ll admit i was also unaware of its proper context, noted.

  29. Great comments tonight.  Ya’ll hang tough.  The gloves have come off and we’re in the 10th round.  By the twelfth we could see paper prices in the toilet.
    That’s what happens to paper when nobody trusts it.  Real silver and gold will abide.

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