• I thought the stackers realized that the paper silver they’re selling will eventually go to zero.  You can’t get to zero without hitting all the depressing numbers on the way down.  The only difference this time is how dramatic and frightening the boyz want to make the descent.  It’s up to them.

    We don’t have to accept these prices for phyzz.  M…[Read more]

  • All this crud about $8 silver next year… Do you all realize they have sold record amounts of Eagles this month?  700,000 (plus) in one day?  $8 silver predictions are total idiocy.

    http://www.coinvalues.com/blog/american-eagle-coin-sales-october-24-2014

    They don’t have the fudge to keep passing it out this way for another year.  I think th…[Read more]

    • they have sold record after record for months and years now. We were told a few years ago by Sprott how hard it was to aquire silver and it took several weeks. Record buying for months and years now and the price is almost a 1/3 of what it was 3 yrs ago. My silver coin dealers are flush full of silver selling just above spot. We were told Shanghai …[Read more]

    • 60,000 Gold Maple leaves sold because of Global demand in October.  Maybe one day the fools in this country will catch on to the tribes lies, heaven knows the rest of the world has.

  • Make that Sprott’s  PSLV.  Another senior moment, whoops.

     

  • The GLD and SLV ETFs are recent additions to the PM market.  When an imbalance in supply /demand reared its ugly head, these ‘demand sinkholes’ were ginned up to absorb the excess interest in the real thing- the phyzz.  Neither of them deliver any metal (to the muppets, anyway).  They ‘track’ the price of gold and silver, and provide bogus in…[Read more]

    • Make that Sprott’s  PSLV.  Another senior moment, whoops.

       

    • I knew what you meant, Conax.  No worries.

    • Ed_B replied 6 months ago

      “Invest in them if you wish, but you will never see a single gram of metal from either.”

       

      That’s good because that is not what these instruments are for.  These are a paper investment in the fiat price of silver (SLV) and gold (GLD).  They can be bought and sold with a few mouse clicks, which is convenient.  No shipping, storage, or in…[Read more]

  • Thanks, Doc!

    Good to see you reporting again, Harvey.  Your daily reports are a long time habit of mine, I was getting nervous without them.  I doubt there is a court order, or they would have shown it to you.

    You got baby sealed, that’s all.

    Disregard the shills- like taxes and death, there’s no way around them.  Anyone can post he…[Read more]

  • It’s the ‘Devil’s Metal” and they have been hacking and chopping at it since 1873.  They couldn’t tolerate people working the ground and digging up hard money for themselves instead of coming hat in hand to some Shylock for a loan.

    Now the end game is approaching.  To sell phyzz now is to snatch defeat from the jaws of victory.  You could have s…[Read more]

  • Here’s a link to a vid where David Morgan says it himself.  About 15 minutes in.

  • @ mikey

    David Morgan and a big bullion dealer in Canada discussed this, and according to the contract they saw, you can be forced to settle in cash.  I tend to believe David Morgan and other long time traders when they mention it so nonchalantly, as in, no big deal.  Every month after options expire and after first notice, contracts start to d…[Read more]

  • I don’t know about you guys, but I set the price my silver sells for.

    Real SILVER is not traded on the comex.  They have a line  in their rule book that allows them to settle up in cash.  The majority of comex traders  are gamblers and deadbeats that discovered they can skim an income off these rackets if they are quick enough or have access to …[Read more]

    • @conax

      real silver is traded on comex, i would challenge you to provide one example where someone settled a delivery with cash instead of physical.

       

      Also, you claim there is a rule in the rulebook, have you read it?

    • @ mikey

      David Morgan and a big bullion dealer in Canada discussed this, and according to the contract they saw, you can be forced to settle in cash.  I tend to believe David Morgan and other long time traders when they mention it so nonchalantly, as in, no big deal.  Every month after options expire and after first notice, contracts start to d…[Read more]

    • Here’s a link to a vid where David Morgan says it himself.  About 15 minutes in.

    • Conax  You make a very good point relating to the SLV increase in ounces—sometimes in the 6 figures and recently in the 7 figures.  Those ounces are noted on Harvery Organ’s site.  Recent additions were 3MOZ a couple of times in the last month or so and yet silver price has dropped nearly $4 in recent weeks and months.  That is a 20% drop yet SLV…[Read more]

    • @Conax

      I will listen to the video, i am curious if he references the rulebook on cme, that is where the language is (note i didn’t say it did not exist, it is just not as easy as people make it seem).

       

      I will defend myself, if you bother to read my posts you will find I have bashed PMs exactly zero times since I have been here, i have…[Read more]

    • @Conax

      Thanks for linking the video to the appropriate time, that is handy.

       

      First, the comex cannot really default, at least not as most here would believe.  Trade is between two parties, the comex facilitates.  The only parties that can default are a long who does ot pay for a delivery he stops, or a short who cannot make with the m…[Read more]

    • @AGXIIK

      Not sure if you meant me or CONAX.  I have been over the mechanics of GLD more times than I can remember here.  Think what you may of Kid Dynamite, he explains the mechanics perfectly so I will save my breath and post a link.

      http://kiddynamitesworld.com/why-is-gld-so-hard-for-people-to-understand-an-etf-lesson-part-iii/

       

      As f…[Read more]

  • If the PTB spent some of their conjured clown-bux quietly exploring and opening up new mines, they could have fought this war by producing plenty of silver, thus keeping the price reasonable in an honest way.  Silver is a strategic metal so it would be wise to find new sources.

    Instead they fling poop at it, have their shills write anti-gold …[Read more]

  • “It feels like the market is drained of all positive sentiment, which is reflected in the very low level of open interest in the futures market.”
    –From market veteran Harvey O, on Friday–
    “The total silver Comex OI surprisingly rose by a whopping 3,432 contracts as  silver fell yesterday  to the tune of 5 cents. Tonight the silver OI complex r…[Read more]

    • what does open interest really tell you about direction of a move?  Since interest is defined as a long and a short pair, all it means is that there is a lot of trade and a lot of open positions, not that sellers are more frequent than buyers.  I think harvey is off the mark drawing this conclusion.

    • But Mike sellers are paired with buyers, neither is more frequent in a dollar basis

       

       

       

       

    • It is entirely possible to hold BOTH silver AND Netflix.  Netflix was quite a buy below $60 a share but I would not buy any at its current price.  The good money to be made in it has already been made, IMO.  Same for Apple and a number of other tech companies.

       

  • To the equity pumpers up above:  People that stack are often neophytes to the world of high finance.  Like me.

    Other than 401(k)s, they have no interest in, or confidence in their ability to choose stocks, do the transactions and get out before it all crashes in a smoking heap some Black Friday afternoon.

    They view their savings accounts as p…[Read more]

    • Absolutely theater! Problem is, most think the “play” is real. The curtain is about to fall………….OFF IT”S ROD! It will happen fast whenever that is, and I would rather have “star metals” than digits on a screen or on paper since all that will be virtually worthless.

  • Remember, the worse off they are, the more pressure they feel, the lower they pound the paper silver futures.  They refuse to offer a fair price for the metal they need, they want you to buy into the lies and give […]

  • The only reason gold is 1300 is because they couldn’t achieve 1200.  They are working on it.

  • In the 1960s the US was rocking the western world.  We had the largest industrial sector, the largest stockpiles of gold and silver on earth, a highly skilled labor pool producing quality goods exported to anxious […]

  • Bradford- The time silver spent between 40 and 48 dollars was very brief.
    I just checked- it hit $40 the week of April 3rd, 2011 and was bombed to death May 1st.  3 weeks and the cartel said, “Stop them, Igor!” […]

  • Hahaha ;)  very good post.
    That’s the spirit. Heck, I’m poor as dirt and I still buy a bit here and there as I come into spare cash.  Nothing will stop me.  If I croak, my boys will pick up the flag and soldier […]

  • Calm down. Everyone didn’t think the price would ‘explode’, since I didn’t think that at all.
    These guys are in big trouble.  You can tell how desperate they are by the constancy of the price suppression.  A few […]

  • Conax commented on the post, When Will TSHTF? 11 months ago

    When will the SHTF? 
    Only the Grand Poobah knows when they will kick the props out from under and let it all crash.
    I suspect it will happen suddenly, some boring Monday morning.  Three years to go?
    I doubt it. […]

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