Submitted by SD reader Cleburne61:

Do silver investors honestly think that JPM can cover 150 million+ oz of silver shorts with at least 2 trillion more in QE coming?
With all due respect to the skeptics of the SLA, we are participants in this thing.  We’re not just sitting, cheering on the sidelines.  The part we play, though small, does untold damage on the enemy.
Musical chairs only works so long….as there are chairs.

Takin’ my little boy with me after work to the LCS to remove another 100 silver dimes from circulation.  Why?
Cuz, “Screw em’!”  That’s why.  You hear us, banksters?  Thrash all you guys want….our millions of little pincers will still do what they’re gonna do, until your zombie corpses are picked clean.

Image: DPA

While the average American likely owns nearly $6,000 in flatscreens, i-phones, and i-pads, the AVERAGE German reportedly owns nearly €6,000 worth of PHYSICAL GOLD!

Like Scrooge McDuck or the dragon Smaug in J. R. R. Tolkien’s The Hobbit, Germans are gathering vast quantities of gold – a study showed that the average German owns close to €6,000 worth of the shiny metal.

By SD Contributor SRSrocco:

A few days ago, I presented a table on the top silver miners COST OF SALES ratio.
I have put together another one showing the OPERATING EARNINGS.

According to my data, the top 2 in both tables, First Majestic & SilverCorp have the best low cost structure of the bunch.  They also showed the highest net income percentage compared to the others.
Here is the breakdown:

The legendary Jim Sinclair has sent an email alert to subscribers regarding the blatant gold and silver manipulation in the wake of Wednesday’s QE4 announcement. Sinclair states that the Fed via Goldman has been capping gold in the $1700’s for months via the ESF, but that the Fed’s capping of the gold market via paper will fail spectacularly as Eastern physical gold demand overwhelms the paper manipulators and drives the price of gold well north of $3,500/oz.

Sinclair’s full MUST READ alert is below:

By SD Contributor SRSrocco:

GOLD COSTS RISE 23% IN 2011, BUT SILVER COST FALL 7%… SO WHAT, ITS OLD NEWS!

This was the data put in an article Restless investors tell gold CEOs to fix slump.  Maybe silver production costs may have fallen in 2011 compared to 2010 due to the huge increase in price paid for silver and base metals in 2011.  I have not looked into the data to see if it was true, but I can show you what is going on in the first nine months of 2012:

Here are some cost percentages from the top silver miners first nine months 2012 compared to 2011:

David Morgan’s ResourceInvestor.com has released a 4 minute clip with Ryan Jordan, author of Silver- The People’s Metal on why modern portfolio’s should hold tangible assets such as PHYSICAL SILVER rather traditional financial assets like corporate and government bonds and securities.  Jordan points out that at the peak of the 1980 bull market in silver, the value of the world’s silver bullion reached 10% of the market cap of the entire US stock market.  In today’s terms, this would put the value of the world’s silver at over $1.5 TRILLION, or approximately $700/oz!

Full clip below:

Paul Craig Roberts was Assistant Treasury Secretary in the Reagan Administration, and he warns, “America is going to crash big time.” Dr. Roberts says, “The real problem is not the fiscal cliff.” The dollar is on very thin ice. Dr. Roberts says, “They can’t stop hemorrhaging the debt, and the way they cover that is to hemorrhage the dollar.” In this real time scenario, Dr. Roberts goes on to say, “When you have debt pouring out and dollars pouring out, the dollar can’t keep its value forever. At some point, people will run away from it, and it will start abroad.” Dr. Roberts thinks there is “an impending collapse of the exchange value,” and the U.S. dollar could unexpectedly plunge in buying power. Dr. Roberts contends, “All of a sudden, people walk into Walmart, as usual, and they think they’ve walked into Neiman Marcus.” Dr. Roberts says there are no quick fixes to the bulging debt because “there’s no way to close this deficit when corporations are moving the tax base off-shore.” Join Greg Hunter as he goes One-on-One with Dr. Paul Craig Roberts.

The post QE4 MOPE raid in gold and silver continues today, with the cartel moments ago sending silver down another waterfall to $32.19, and gold to $1688.

With the Fed now OPENLY admitting that the only way to fund the massive US deficit is by outright bond monetization, current precious metals prices will be looked back upon as the greatest opportunity/gift of all time in the not-too-distant future.  The question is will you have the intestinal fortitude to be right, and sit tight?

Gold fell nearly 1% in illiquid markets in Asia overnight. Some traders may have decided to take profits on the short term long the FOMC announcement trade. Gold bullion prices had already ran up to $1,723 in the 2 weeks prior to the policy statement. Overnight, as prices fell below the 100-day moving average at $1,705, stop-loss selling was triggered which pushed prices lower quickly. Yesterday, the Federal Reserve took the bold, some would say reckless step, of linking its monetary policy to unemployment, creating concerns that the U.S. dollar will be debased even more in the coming months.  The US Federal Reserve will keep interest rates at close to zero until unemployment falls below 6.5%. This is a historic and very radical change to monetary policy. It is the first time a large central bank has ever tied its interest rate policy directly to one facet of the economy – unemployment.

GATA has obtained an IMF report from 1999, which reveals that over 80 central banks had lent at least 15% of their official gold reserves into the market.  This gold was lent to the primary dealers, who turned around and dumped the bullion on the market to raise capital, and then plowed the capital into interest bearing debt of the issuing governments.

The report also reveals that the IMF revised rules for the express purpose of allowing central banks to hide their gold loans and swaps within their gold reserves!!

The manipulation of gold and silver prices by the Western bullion banking cartel is all about the management of the perception of economics.
Investors MUST NOT protect themselves from currency debauchery by acquiring hard assets such as gold and silver to preserve their capital.
Readers will recall that in November of 2011, the gold price was sent down a vertical mineshaft just moments prior to the announcement that the Swiss were linking the CHF to the Euro, which was intuitively massively bullish for gold.

Another counter-intuitive smash of gold and silver prices is in progress, as gold has been smashed $30 and under $1700 from it’s post QE4 announcement high near $1725, and silver has been smashed $1.15 from $33.92 to $32.77.

The Doc has been inundated with desperate precious metals investors ready to throw in the towel with tonight’s raid, as those without conviction are buying into the Fed’s MOPE, hook, line and sinker.  This is a war, and a battle for your wealth and your assets earned through blood, sweat, and tears.
THE FED HAS ANNOUNCED OPEN-ENDED UNSTERILIZED MONETIZATION OF TREASURY BONDS AT A PACE OF $85 BILLION PER MONTH!!   THIS IS $1.02 TRILLION IN ANNUAL BOND MONETIZATION, WITH BERNANKE EFFECTIVELY STATING QE4 WILL CONTINUE WELL INTO 2015.  THIS IS THE END GAME!!   THE FED HAS NO WAY OUT, AND IS BACKED INTO A CORNER.  QE TO INFINITY AND BEYOND IS HERE. 

By SD Contributor SRSrocco:

Well, it didn’t take long for market prices and reality to set in on Cheseapeake’s earnings.
In the chart below, you will notice that Chesapeake’s revenues have declined substantially since the last quarter and they took that nice $3 billion impairment charge due to.a WRITE DOWN IN RESERVES…. thanks to the USGS.

GoldMoney Chairman James Turk outlines the reasons why “everyone should have a precious metals portfolio.”  James outlines the stark fiscal facts about government debt problems across the developed world, and why central banks’ determination to devalue the currencies they issue is causing a bull market in precious metals. He demonstrates why gold remains undervalued, despite the great gains seen in its price over the last 11 years, and a means of assessing whether or not the yellow metal is fairly valued or not.

James argues that we are living in “fiat currency bubble”, similar though many magnitudes greater than the recent housing bubbles seen in America, Ireland, Spain and other countries, or the “Tech bubble” in NASDAQ stocks in the late 1990s. The USA is racing towards hyperinflation, courtesy of the Federal Reserve’s monetisation of US government deficits.

Full interview below:

QE∞ is now QE∞er, and QE4 is official as the Fed announces $45 billion in NEW unsterilized monthly treasury bond purchases, exactly as expected by the market.

  • FED INCREASES QE WITH $45 BILLION IN NEW MONTHLY TREASURY PURCHASES
  • FED TO CONTINUE MORTGAGE BONDS PURCHASES AT $40 BILLION PER MONTH
  • OPERATION TWIST EXPANDED INTO UNSTERILIZED BOND MONETIZATION
  • MONTHLY PURCHASES TO TOTAL $85 BILLION
  • FED: RATES TO STAY EXCEPTIONALLY LOW WITH JOBLESS ABOVE 6.5%
  • Gold and silver popping

Full FOMC statement below:  and Click here to watch Bernanke’s Press Conference on QE4 LIVE at 2:15pm EST:

SD reader and commodities trader JB Slear has sent us silver’s 30 year chart which demonstrates one of the strongest and largest cup and handle patterns in history JB states that the cartel’s manipulation of the silver market will backfire in a massive way, and that the target on the cup and handle chart will shock even silver bugs.

JB Slear’s 30 year silver chart below: