macleodFollowing on from last week when Iraq hit the headlines and the price of oil firmed up, gold was steady for the first three trading days.   It seemed the shorts just held their breath and hoped Iraq would go away. But with oil prices up yet again Thursday a vicious bear squeeze followed after someone bought over 3,500 gold contracts, driving the price up to just under $1300. Once this level broke at 13.40 New York time, gold jumped a further $15 as stops were triggered.
Silver also responded dramatically, rising through the $20 level to $20.90 for a gain Thursday of 5%.
The price action and open interest this so far month is shown in the following charts and illustrates how record bear positions are being squeezed in both metals.

 

REVOLUTION

Submitted by Alasdair Macleod, GoldMoney:

Note also that yesterday’s action involved many new players, evidenced by the sharp jump in open interest, in silver’s case to a new 18-month record.

Gold Open Interest 20062014

Silver Open Interest 20062014

The news hanging over the market was the release of the Fed’s FOMC minutes on Wednesday, but they contained few surprises. Another $10bn of tapering is to be lopped off QE3 as expected, and there was some jawboning about economic recovery, which has been revised down slightly.

The reality is the Fed’s monetary policy has failed to stimulate the economy and the inflationary consequences the principal result. Food prices are rising, not helped by the Californian drought, and now energy prices are trying to discount deteriorating prospects for the Middle East’s supply. It is traditional to blame special factors, but the fact is the money has been created to support higher prices.

In the UK the Bank of England is fretting over asset inflation in the housing market and knows it will have to normalise interest rates sooner rather than later. Japan is printing yen to pay the government’s bills, and both the IMF and the ECB are terrified the Eurozone is slipping into deflation.

With monetary policy failing in all the advanced economies and western markets badly short of precious metals, it is hardly surprising gold and silver prices are now rising. Look at it from the bears’ point of view. Not so long ago they were encouraged to think the third assault on gold’s $1200 support level would drive the price down to $1050. Instead it failed to go below $1240. Suddenly it looks like there is underlying strength and the primary trend is up.

The Bank of England released its Annual Report on Monday, reporting that gold in their custody fell for the first time since 2006 by 755.45 tonnes. Last year I broke the story that on the Bank’s own information between 28th February 2013 and the following June the Bank had transferred up to 1,300 tonnes of gold from its vaults. The new year-end figure is in line with with this reduction, bearing in mind there are transfers both in and out of the Bank’s vaults every week, many of which are not the result of market transactions.

Next week

Monday.

UK: Nationwide House Prices.
Eurozone: Flash Composite PMI.
US: Flash Manufacturing PMI, Existing Home Sales.

Tuesday.

UK: BBA Mortgage Approvals.
US: FHFA House Price Index, S&P Case-Shiller Home Prices, Consumer Confidence, New Home Sales

Wednesday.

UK: CBI Distributive Trades.
US: Durabl Goods Orders, GDP Annualised (3rd est.)

Thursday.

US: Core PCE Price index, Initial Claims, Personal Income, Personal Spending.
Japan: CPI (Core).

Friday.

UK: Current Account, GDP (3rd est.), Index of Services.
Eurozone: Business Climate Index, Consumer Sentiment, Economic Sentiment, Industrial Sentiment.

 

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  1. Yeah…. it’s time.
    Expecting a small pull back into the end of June. 
    Back to near $21 for the 4th of July weekend.
    We’ll break through $22 around July 16.
    Bust all the way to $26 by August 8th…
     
    Just how I sorta see it firming up moving forward…lol 

  2. What’s with all the excitement and short-term dramatic graphs?
     
    If you bought Gold or Silver (like I did) before September 2010 you are starting to go into positive territory again.
    In the last 4 years I made a lot of money and lost an equal amount.   I’m just back where I was in September 2010.
    Actually, come to think of it, I’m actually still not in positive territory compared with 2010 because the value of currencies has tumbled.
    You have to compare the 2010 Dollar to the 2014 Dollar.   The Dollar has lost 8.3% so I need to go back to November 2009.
     

    • I call BS on you GBS.   We are supposed to believe you didn’t buy ONE single more ounce down here in the teens?  Just yesterday, I received another nice heavy box with some shiny Franklins.  Bought with a credit card, no less.  How many here exhort you to keep stacking? 

  3. Dear “lasvegasbrad” call BS all you like but I bought the bulk of my Silver 10 years ago.  I then sold most of my Silver for Gold when Silver was on the way to $50.  I have bought a few coins Gold recently.  As for Silver I only buy French ‘Hercules’ because I can get them for below spot.
    I’m trying to say that it’s a waste of time getting too excited or too depressed about PMs.   You need to have your feet on the ground.   I’m NEVER selling my Gold but I will sell my Silver when it takes off again.   Gold is to preserve your wealth and Silver is the great speculation.
    Silver will go up like a rocket one day but will just as rapidly come back down to earth as people like yourself with the ‘monster’ boxes all rush for the exit once you feel you are ‘rich”.

    The unfortunate ones will those that hang onto their Silver as it starts to plummet back to the ground. That’s the way I see it.

    • You may very well end up being correct, unless those holding silver don’t have enough left over (to either see it “plummet” or to convert  to gold) after using it all in the “underground economy” that is sure to spring up at a certain stage (depending upon how everything unfolds).
       
      In THAT case, the silver will be as good as gold. It will keep us alive.

    • All the same, with the price point being as brutish as it has been the past year, I don’t mind seeing a little positive hype. It makes me smile while drinking my morning coffee.  As for getting “Rich” – Silver would really have to hit somewhere around 40 for me to break even.  Bought 1/4 of my stack at 42, another half at about 35 and the last quarter averaging around 25 (if you consider a purchase of 120oz @ 20.10 when silver was in low 19′s)
      As for all of this nonsense about silver being “wild” and “bailing” on it, My personal position is a bit different:
      Silver has been stable until after the gold standard dumped and it began trading on the market.  Why is it volitile?  Because there is NOT a lot of it.  Sure there isn’t a lot of gold, but there is less silver.  Being as it’s a surface metal, we know approx how much is available- unlike DEEP GOLD MINES.  Paired with it’s INVALUABLE UTILITY- Silver is a MUST HAVE! I see it getting closer to 1:1 over 20:1. (avrg 5:1?)
      What if the U.S. (which has ample silver mines btw) plans on giving China gold, and trading in Silver over here, arguing it’s merits?  What if the states “changes the game”?  Just as easy as it would be to say “The U.S. Dollar is Worthless” and trade only backed by gold or a real commodity, silver’s merits are more worthy than golds in utility, and scarcity.  To look down on Silver (to me) reflects how successfully you’ve been brainwashed in your lifetime.
      The world may slide down the rabbit hole for a while, but the lights eventually come back on.

    • @ undeRGRound:
      Now that you mention it, I could see where you would. Good. Merely a coincidence, though.
      (You notice I didn’t call it the underWEAR economy, as that would refer to what we’re presently subject to, not what will be.)

  4. Exactly Snakebite!  That is why the rolls of shiny Liberty Bell Franklins.  Those are not meant to make house payments with.  If everyone around you is hungry, how are you going to the store with a pocket full of ASE’s?

    • Some of us are “in this” to merely survive difficult times, others for serious wealth preservation. I’m in it for both, assuming both are an option. At the very least we should have our sites set on the former, and prepare accordingly (as you are doing with those Franklins).

  5. Snakebite
    Both reasons for owning PMs are sound but also includes the potential of using silver and gold as real money and even medicine.
    Many issues have loomed large in the last week and in no particularly order they are imposing some real strains on the humanity of this world.  The smashing of silver and gold prices has lasted just over 3 years, longer than the price drop of silver and gold in themid 1970′s when gold prices dropped about 50% from $200 to around $100 an ounce.
    What we have today is an internationalized process of hyperfast price rigging that has even greater impact that those of 40 years ago.   When there’s one full year of silver production in paper short play this cannot be sustained indefinitely.  
    Herb Stein’s famous comment “If something cannot go on forever, it will stop”
    This will stop
    The things happening that are pivotal to this are, IMO, as follows
    CIA funding ISIS in Iraq as well as the AlQ  in Syria
    Iraq is mostly Shia, Iran is Shia, The Sauds are mostly Sunni.  These factions are fighting blood fueds 1400 years old
    Russia announces the Anti-dollar policy.  90% of the dollar destruction mechanism is in place.  MENA is where it will be played out—with oil going to $200 a barrel.  This will cripple the overleveraged economies (all of them)
    Comex and LBMA will default and declare a Force majeure
    The dollar will go to 70 and then to 55.  Dollar dumps will flow in the trillions to the US which will not be able to absorb these dollars.  Inflation will skyrocket as a result
    Food prices will go up by 25-50% in very short order, maybe by year end.  Gasoline prices will ramp to $8-9 a gallon with a Federal tax increase bringing it to $10 plus a gallon
    gold and silver will double, then double again then go off the charts as the Average Joe and Jane will bid up the prices beyond our ability to comprehend
    “events start slowly until they start moving very quickly”
    The Argentine and Ukrainian bonds will default, causing a catatrophic run on and collapse of the derivatives backing them implode and thus cause a cascade effect to other bonds and derivatives
    China will try to contain the near 100% loss of collateral on their base metal stocks
    “Those who get through the door first will get the best deal”
    Russia has dumped $50 billion or more in US Treasuries since they know the Fed Res bank will repudiate their holdings, thus creating a real Causus Belli.  Russian will dump the rest of their dollars for any price, buying quality hard assets to replace these sunk cost investments in CCC minus rated US bonds.  China will respond in kind
    “The smart money will sell to the dumb money and the dumb money will buy it by the truck load
    the US Government will expropriate retirement plans through provisions of the NDRP and GRA programs set up to acquire funds from 401K and IRA programs to force buy these trillions in indirectly offloaded US bonds from China and Russia
    This will buy time but rates will ramp upwards to historical norms of 5% and then to 8, 10, 12% and even higher
    This will destroy the US stock market, 50% owned by central banks which are reported to own $30 trillion of the equities markets world wide.  The central banks will be gutted by this collapse in equity values
    This is all part of a paper paradigm in which the US Dollar, as the only world wide unbacked FIAT currency, enters its painful ugly destructive death throes
    No one will be safe and no one will prevail or prosper except those who own and retain precious metals and other highly desireable commodities including farm land and water rights.
    We may be able to hold this paradigm together for another few months but if ISIL or ISIS gets their wish and captures both the Iraqi as well as Saudi oil fields–or destroy the few main pipelines for Saudi Oil, this could unfold even more quickly and that including a speed that might be nothing more than a week or even a weekend.  
    PS  The UK and US stole the Saudi gold. That means war and the House of Saud will ally with Russia and China fully. repudiating 45 years of the Petro Dollar regime.  
    Thus the US crashes, but not before a serious amount of war breaks out under the auspices of Obama and the Junior League of Idiot Savants inside the beltway

  6. Wow, I find it hard to believe after all the information and good caring people we have had available to us over these years that there are those that STILL only think in price.  I struggle with it daily but always come back to why I am here and it is not price it is value.  So, instead of trying to convince others of what you believe/think and basically shouting what has happened to you and on what date and what price why don’t you convince yourself that you are not at all sure of why you are in PM.  It just seems to me that you do not know if you have strong or weak hands.  Trust me you are not alone in this struggle but some of you write these comments as if you are the ONLY one who has had it tough.  Please sniffle somewhere else and I think I just found your site http://www.weakhands.com!!!

  7. (Shaking head to all the above posts – except my good learned colleagues AGX and 49Pan)……
     
    Gold and Silver, physical to be exact, are not not investments as they are insurance – acquired against these times which we are forced, under color of law, to trade using “Plantation Script” that is useless paper and ink.
     
    How pray tell can real money be investments? That’s akin to buying a hundred dollar bill for 100 hundred dollars hoping to sell said hundred dollar bill years from now for more than…one hundred dollars.  I should accuse all of you here for ignorance pertaining to this Fiat War we are all battling but I know each of you know better. Buying and selling physical coins is ones own business but I usually caution against it.  I myself acquired most of my stack between $5 and $7 years ago. However, my highest venture was also between $38 and $42 respectively. Why? Because the object of the game (stacking) is to relieve ones self of worthless fiat cash when and after debts are relinquished. So truth be told, I have never sold any of my….wealth. My advice: neither should you either!
     
    Since we are all in this together, let us not forget the most important and valuable precious metal out there: Lead, copper jacketed!  I assure all of you that when times get rough, “lead” will be the currency in demand far sooner, and far longer” than Gold or Silver during unpredictable times. One should gather “lead” well and long before one ventures out to acquire physical Gold or Silver.
     
    Think people, think! Keep stacking….PRECIOUS METALS!

    • redpill
      fiat IS money! I can buy just about anything with it. House, Business, food, investments, Precious Metals, Guns, Ammo, etc. Why do You say Fiat is not money? Fiat can be converted into anything???

    • @dolph
       
      Not too may people are aware that it is unlawful for the term “money” to be located anywhere on our current specie of trade in which is referred to as legal tender. The reason for this is quite simple:  A 20 dollar bill is not money.  Under the law, it is a Promissory Note…..and according to Blacks Law Dictionary, the term “note” is a promise to pay in the future! Of course, the term “note” is located more than once on any denomination of our current script in circulation.
       
      Also, this so called “money” is a private specie as well. all large transactions and land you thought you “bought” using our so called money is not yours my friend. You actually, under the law, OWN NOTHING! Your house is not yours, your vehicle is not yours, your land, business….everything purchased with money is, well…not yours. You must understand that the private Federal Reserve owns and controls the specie you used to acquire your property….hence, they own it, not you.
       
      How else do you explain that Caesar can confiscate or impound ANYTHING and EVERYTHING you “own” with the stroke of a pen or an act of DeFacto Malum Prohibitum law? The reason is quite simple: YOU ARE A SLAVE.  And history shows that slaves cannot own property! 
       
      Look it up.
       

      1. You are legally a debtor and chattel (property) owned by a hidden creditor.
      2. There is a hidden lien on everything transacted for by or with a Federal Reserve Note.
      3. Your entire alleged wealth is/has been liened, you don’t own anything! You merely have possession by privilege. This privilege may be yanked at any time if you don’t obey the real owner.
      4. The Federal Reserve Note is a foreign product owned by a foreign corporation, and not by you or the U.S. government.
      5. The States and the United States courts are bankruptcy courts representing the interests and property of the foreign creditor.
      6. Without knowing it, you have been compelled into international commercial law, where you have none of your unalienable
      rights. Hence, you have been insulated from your birthright, the common Law from which your rights are immutable.
      7. You are charged an income (excise) tax for transacting in the foreign commodity known as Federal Reserve Notes.
      8. You have been divested of the rights to, value of, and profits from your labor, which has been stolen.
      9. Lawful gold coin (pre 1933) money transactions are invisible to the states and national government(s).
      10. The real cause of draconian governmental regulation and your loss of rights is the toxic currency.
      11. The United States lost its sovereignty in 1933. It is in receivership to the hidden creditor. The bankrupt government is a puppet to the real master, as declared by Banker Rothschild on the cover.
      12. The real cause of the current economic calamity is the toxic currency.
      13. The hidden creditor (international bankers) owns everything, including you.
      14. You have been living within an illusion, believing that you are free, but in reality you are owned!

      May God bless you and your family and I hope to dialogue with you more in the future.

    • As long as we remain armed, we are contesting this “paralegal ownership system” they are trying to enforce in the future. Good luck with 100,000,000 gun owners and WELL OVER 300 million weapons, and I’d say a cool trillion bullets, all with a dirty politician’s picture on it… It ain’t over until the fat lady sings, and she’s warming up in the wings  :D    

  8. roger that The Red Pill
    trading one precious metal like silver for another one, such as lead and brass, or steel and wood (The means to project the power of lead0 is one critical use of PMs that is worth the trade
    there is something that is strongly attached to the notion of using precious metals for the coming ‘apocalypse’
    It will regain its standing as real money and thus be the means to conduct commerce
    Test the waters with this notion and see how it plays out. You’d be surprised how eager some people are to accept silver for goods and services.  Those people may become your initial conduit for the new paradigm of real money commerce

    • Ammo dried up in 1993 and my colleagues and I learned our lesson and stocked up well.  When it hit again in 2008, none of us panicked.  But when it repeated in 2012 and others screamed, we just laughed! Did you people not learn anything? So yes, lead precedes gold and silver along with other logical ”prepper” tools and supplies. Gold and Silver should really be the last thing on the list when preparing against future calamities.  But I must admit that I have a weakness for the above caption of those….white cotton short pants!!!

    • There is another angle you 3.  Not everyone here is “Middle Class”. (I just love to argue, so here it goes!) ;)
      I have been blessed to not have to sell any of my stack, or preps, but the majority of people in this world are quite a bit poor, and as we are still locked in the paper world, that paper buys food, pays bills etc.  I know people who have pawned their tools etc for 50 bucks, and the tools were 150!  Not saying it was wise, but they were in a pinch, and didn’t have enough income to cover sudden expenses. (note I said “sudden” not daily)
      And most poor preppers only have maybe 20 oz, and are damn proud of what they’ve managed to scrape up! Especially when they think of silver as 1/10oz = 12 hours hard labor.  I know for a fact that AGXIIK has had to sell some AG to get by; I read it with my own 2 eyes.  Perhaps some peeps, efter digging in for such a long time, need a much deserved vacation from all the gloom and doom, and would sell some of their stack for a jet ski and break loose before the nuclear clouds hover above. (lol)  If that day ever happened, and you were dying from nuke poisoning, yet with 3,000 oz in your basement, you might say to yourself “Damn, if only I raged it up last summer…. the last summer I could have enjoyed in my lifetime!”
      Ok Brothers, All I’m saying is this:  These are fellow stackers, for whatever reason, lets not be too judgmental at their decisions until we’ve lived “directly” in their shoes.  I’d side with a temp-stacker any day over a politician or banker ya know!? ;)

    • @AGXIIK ok bra, of all of us here, you would be the one person I would image owns a .50 BMG!  So put some spice in my morning coffee and tell me it’s true. ;)  I need someone to look up to haha!

    • I am one of those poor preppers, approaching 100oz’s of silver though. I have used parts of my stash to pay for guns and ammo when needed, not going to pass up a buy for lack of fiat. But I have also had the foresight to pay off everything I own, stack a years worth of food, working on a water storage system for rainwater. In general trying to be ready for what is eventually coming. Even if only the cities turn violent small town USA will have to defend themselves from time to time against gangs of raiders looking for easy supplies.

    • I have always categorized PM’s as insurance, that is why I have been harping on making close friends and keeping in touch with family because that is how “we”will make it through…PM’s will be helpful, but not worth much if you are alone with nothing but them!

    • @coinbuysell
      I hear you! 
      But don’t bring a knife to a gun fight, my friend! I know you are fond of knives  :D 
      Hope you are stacking lead and brass, and implements of firing these projectiles… but I suspect I am preaching to the choir  ;)

  9. Shamus001   You are correct   I did sell some silver for taxes last year and have traded or sold silver to buy lead bullion (some on thi site) plus topping off my blaster and ammo stacks higher than I thought possible.  The reason for going heavy to lead was the shortage last year and the drop in price of 50% this year.  People are dumping guns for cash as well.  Without going into details about how many, it has been a good year to buy blasters.  back of the Truck guns and a couple via LGS.
    I do not own a 50 Cal BMG but  a homie owns 2  
    I make up for that serious deficiency by buying lots of good AK and SKS commie rifles plus mucho 7.62×39  Maybe I will acquire a 308 this year in the AR platform.  Need to find someone dumping a good one who wants silver
    I may also add to the stack spent on essentials as this price level holds
    Cheers
     

    • @AGXIIK I know .308 is tempting, but it lacks serious penetration.  If your dead set on a .30 cal round, might I suggest 30.06 or 762X54R (the 7.62 is very inexpensive as you know) and both share the penetration of a class III trama plate. (Whereas 7.62×39 & .308 win fail)  Both are as good for hunting, and personal defense as well. Plus they enjoy 350 block penetration. :)

    • I like my 5.56  :D
      If that don’t cut the mustard, I have the 270W which will do anything the 30-06 or Mosin Nagant will do, and shoots flatter to boot! The 130 grains have better terminal ballistics than the 150 grain too. Bought that one with Silver, myself  ;) W/Scope

    • The best caliber and rifle, is one YOU are comfortable, and acurate with. A .308 is in my opinion a great round. As for penetrating a 350 chevy block, you dont need to penetrate the block. Rounds fired into the engine compartment are going to tear sh!t up, and the vehicle will stop.
       
      If you want to test shotgun rounds, may I suggest steel shot. They penetrate far better than lead. The range may not be as long, but the improved velocities, and penetration charecteristics of steel will suprise you. Inside 40 yards no standard vehicle can stand up to steel shot. Neither can any conventional home or office construction.

    • 7.62x54r AR conversion… now THAT would be sweet! Skip the 308 and go 338 Lapua, half the cost of 50bmg to shoot and reload but almost as much punch.

  10. This Is Where I’m Coming From
    May the force protect us (GOD). I’m Stacking for Survival which includes just about everything including Guns, Ammo, PM’s, Food, Medical Supplies, get the drift? Not for Investment or Insurance it’s all for SURVIVAL
    Everything I have, has been given to me (if you understand) can be easily taken away. My Insurance is my Faith and Investment is a voice from within telling me to stack material things which are not important to me but for survival purposes only. Keep Stacking

  11. Methinks I’d rather stay put in the rocky hills of Texas, lol.  I reckon Ft. Hood would become a major target, but so would most of the US anyways.  I’ll take my chances on home soil….thank you very much.  Besides, real Texans have a legacy and history fighting to the end for freedoms, rights, and self-preservation.  Try to nuke Texas and see what happens…..it would be your worst nightmare.  No telling what’s tucked in those hils of West Texas.  It’s a vast open acreage of rocky hillls and desert where all kinds of peril await an unsuspecting interloper, haha.

    • me, too…Texans will ward them off or die fighting!  NO running here and I know of quite a few interesting things hidden in the W TX hills, mine & my wife’s families are both from that area (outside of Lubbock and Monahans, respectively) and have always been “preppers”…since well before that was even a term in current lingo because that was the way they had to live out there until our generation.
      We now have some nice land down in Central TX, with clear running water and more deer and hogs (hate them but they are edible) than you can kill off with a small platoon…the damn deer are like rats and the hogs are 100 times more overpopulated, which is what happens when all of the people move to the city and leave the countryside to nature so we at least have a decent place to go if the SHTF before we can move down there for good!
      Just hope it never comes to that…

  12. shamus001   good intel on the 30-06   My trainer has hunted for decades and his 30-06 and maybe a 30-30  He is a great shot to 600 with a good scope.  Leopold 3×9 I think   He and family got 5 elk tags   We’ll be slicing and dicing elk for a day or so since the back woods are filled with elk this year
    I like the 223/5.56 for their good reasons—a first rate CQB rifle.  I am really fond of the AK and SKS for their larger caliber stopping power and decent accuracy to 300 yards unscoped. The AK platform is just about fool proof and that is a good thing with me abilities. Remember the one legged monkey standing in the hammock trying to have sex with the saxaphone. That’s me on a bad day
     We’ll hid or avoid from anything further than 300-400 yards unless it’s coming for us or bringing the fight to our door step. 
    A quality k98k Mauser in 8mm is a nice battle rifle which I need to pay more attention to.  Maybe with a good 4 or 6 x scope.
    Maybe more good ammo for that blaster even at 80 cents to $1 a round.  It’s a trade rifle or keeper if someone likes old school   My eyes are good for 3-500 yards if I can see the target with no magnification or with optics.  But I am not a good long distance shooter though I can learn quickly.
    My main contribution to the BOB is eagerness to make a difference, a large stack of PMs, lots of guns and ammo to outfit anyone to pretty much any spec they want.  Platoon strength is about as large as we can go but the skills of the rest of the team are very high. Many are former Marines.  Why the heck they would have me around escapes me but I am glad to have such a great BOB.

  13. MaryB   I just finished an article on the Ruger SR 762   Expensive as stink in an AR platform but good to 800 yards
    Your Mosin sounds like a great shooter for much less.  The Ruger is at least $2,200.   
    338 might be a good choice.  I’ll have to research that.   

  14. Going to startpage  (anonynous google search) there are a couple of Lapua 338′s on the AR platform  Noreer Bad News, DPMS and Armalite offer these rifles.   $2,600 a piece.  Ouch.   1,200 yard shots are possible.  At 2/3 of a mile, I’d rather have a Miller and call it day. 

  15. My favorite is still my .25-06 made by one of my grandfathers friends across the street in his little gun shop in the garage…I can hit a fly on a horses ass at 300+ yards with it…..45-70 if it comes down to blowing straight damn through something, with nearly every caliber in between :)
     
    First time one of my friends came into our house when I was a kid, his exact quote was “y’all have more guns than Gibson’s” (if anyone here remembers Gibsons, kinda like Walmart back in the day),errrr when Walmart still sold guns, that is.
     
    Hang in there, still thinking silver will be lower before it gets much higher…looks like the raptors let some of the shorts off of the hook

  16. @the redpill
    not sure how to comment on Your Lament? I have never known a “slave” to own Cars, houses, precious metals, boats, 2nd homes and etc before? Who cares if We are all slaves? This is the hand that is dealt Me and I am just trying to make the best of it. I will live and die with all the riches i have acquired in this lifetime under this slavery. And according to You, as You put it, If the imposter government owns everything then “they” also own all of YOUR, PM, guns, food, ammo and preps. Whats the use? I only buy precious metals because I want to get filthy rich -er off of them one day and if not? Oh well whats a few hundred grand fiat, bank gives Me .3% interest and I have never owned a stock or bond in My 50 years lifetime. I think You may have spent too much time in school and now You are unable to think? eh? 
    Not trying to be a Dick here but I think a lot of You people are getting off base to the point that You may be delusional and are escaping into a fantasy world between You and a (fake) tyrannous Government that does not even exist. Hang in the Kid, Life is almost over, Phew!

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