RJO’s Streible: Silver Will Be #1 Commodity Pick of 2013, Short Covering Rally Will See Prices EXPLODE!

RJ O’brien Senior Commodities Broker Phil Streible was on Bloomberg this morning, and when asked by the host for his #1 commodities pick for 2013, Streible responded: Silver!

Streible stated that: The Fed will continue to buy mortgage backed securities and treasuries, causing the Fed’s balance sheet to expand from $2.9 Trillion to $4 Trillion by the end of the year.
The Bloomberg host then asked Streible why then wouldn’t he buy gold rather than silver?

Streible responded:  Ultimately the Fiscal Cliff issues will be resolved, silver prices have been beat up recently, we’ve seen a 10% decline in the last week, and I think that a snap-back short covering rally will occur, and prices will explode!

Full interview below:

 

2013 Silver Eagles As Low as $2.59 Over Spot at SDBullion!

Comments

  1. What do you expect to happen when the Comex, as they did with the Hunts, changes the rules such that one can only sell silver but not buy any silver?
    And, what do you think the chances of them not doing this all over again? 

    • Have it in hand and hold, wait….things will change again and there’s a black market that would snap it up too!

    • tmallen,

      You have some flaws in your logic.  Things have changed since the Hunts tried to corner the silver market.

      1. The U.S. Federal debt has ballooned and its growth is accelerating. There are two main reasons.  The first is that “fixed” entitlement programs – social security, medicare, and defense (corporate entitlement) are getting an ever larger share of the budget.   As the baby boomers mature they will put an increasing pressure on the Federal budget.  It’s not the boomers fault.  The government’s return on social security payments is a big deficit.  Secondly, interest payments will get larger and larger.  Once a country’s debt surpasses 90% of GDP it has always defaulted.  Our government’s debt is over 100% of GDP.

      2. Foreigners now consume more gold and silver then the U.S.  I will name three countries/regions: China, India, Arab states.  They also value it as a store of wealth.

      3. There’s a currency war.  Japan just fired the last shot.  Japan cannot afford to print money.  If Japanese bond yields reach 1% then all tax revenue will be used to pay interest.  Japan prints money so it can purchase bonds from other countries so that it’s currency gets depressed and improve export.  This twenty year strategy hasn’t worked and their time is almost up. Guess what happens when the buyer (Japanese government) can’t purchase foreign bonds?

       

  2. Physical demand will eventually trump all shenanigans in the silver market. In the past they had physical stores that have since been depleted/resold/leased/etc… so eventually we reach end game, at least that is the assumption.

    • Yes, it is and it’s a good one.  At some point, the only relevant question will be, “Do you have silver or don’t you?”.  If you do, you will be in a terrific financial position.  If not, then you will be further down the totem pole than you thought.
       



  3. Capital Accounts Lauren Lyster…The Sell Out.. I will put together a series of videos from her show. This recent show look how condescending she is towards these too. She definitely a sell out… 

    • She probably is… but a VERY high priced one.  ;-)
       

    • I don’t have a clue where you get that impression from. If you listen to her questioning, it is leading and cleverly cloaked at the same time. A journalist has to ask these type of questions (manipulation proof, conspiracy theory allegations as trotted out by the MSM dolts, etc) in order to give the guest an opportunity to respond to those accusations. She can’t be seen as unbiased if she just gets up and sides with GATA. That would put her in the league of Bartiromo, Becky and Liesman. Jeeze, give the girl a break. She’s raised enough issues that the MSM won’t raise to have gained her credibility. You need to be more specific in your accusations rather than just post links with no subject matter to back your accusations.

  4. Silver Manipulation Explained Mike Maloney 






  5. Bill Murphy Explains Ms. Lyster about the Gold manipulation. So tell us Ms. Lyster what happened in the last 8 months from you to be an objective reporter to now a prime time paid for puppet? 

    • good analysis netranger. notice dr paulcraig roberts last week talking about “agenda driven news” when he was quasi ambushed by an rt interviewer. they kay be turning to the dark side.

    • I for one would like to get my hands on her gorgeous legs :)

    • On the other hand it’s great that GATA gets the exposure and Lyster does allow them to state their case.  In her defense I’ve heard her speak where she has been the guest and she is worried about ‘looking stupid’ on her show, so she plays the skeptic.  But I think if you got her off the record she would be in full agreement with what Chris Powell and Mike Maloney are saying.  Bill Murphy comes off as a little goofy all on his own.

  6. Silver may be the #1 commodity for some time to come, not just 2013.

  7. I hate it when the senior commodities brokers look like they just got out of school.

    • This guy has been around for a bit.  I used to watch him when he worked at MF Global.  He used to work with Jim Comiskey.  Don’t know if anyone follows Jim but he usually makes a daily youtube video.  He is a level headed guy with common sense.  He uses charts but his analysis is usually very good.

  8. I pulled the trigger on my first order of silver eagles today. I never liked paying the high premium on eagles which is why I always bought other coins or rounds but the recent selloff made prices very reasonable. I’m 20 ounces closer to my goal now. 

  9. Silver Will Be #1 Commodity Pick of 2013…Rally Will See Prices EXPLODE!
    -  -  -  -  -  -  -  -  -  -
    Sorry, but this sounds too much like hype; this sounds like a 19-year-old telling his date how good it’s going to be – before he shoots his load and goes soft in the first five minutes of ‘action.’

    Yes the fundamentals are in-place for a rally in Silver, but the timing of this still can not be determined.  To say this will happen in 2013 is only a guess.    

    • Yes the fundamentals are in-place for a rally in Silver, but the timing of this still can not be determined.  To say this will happen in 2013 is only a guess.
       
      I’m with you Mammoth, yes Silver will head up but nobody knows when, I’m getting tired off all the Hype, When things get worse with the general public that’s when we will see a substantial rise. In the meantime Keep stacking

    • I agree, Charlie and Mammoth, and often wonder if those asking “WHEN” questions are setting their guests up by doing this.  I would like to see some of them respond with, “Well, it really doesn’t matter because it’s inevitable.  Just dollar cost average for the time being and you will be in fine financial shape.”  :-)
       

  10. wow Phil Streible said it will explode!!!!! finally what we’ve been waiting for!!! haleluyaaa!!!!

    c’mon silverdoctors, this stuff is for kids

  11. Still getting caught up here, after being off-line for a few days.  From a previous thread, someone commented, “It’s one thing to buy 50 silver ounces. That has some weight and more bang for the buck. Buying one ounce of gold just doesn’t have the same Ooomph. Just a thought. I like them both

    The other day I pulled out my $20 St. Gaudens Double Eagle.  Holding this beauty in the palm of my hand, this coin certainly has planty of ‘Oomph!’  Oh and BTW I paid $1,400 for it at the beginning of last year; try finding one of these at that price today. 

  12. RT   Putin’s propaganda machine.  No surprise there.  The themes of this show are always anti something or so it seems.  Usually about  the western world. I have never heard anything negative about Russia or its allies on RT, or stories pro or con on that subject.
    That said, listening to these news shows offers little in the way ogf  fresh ideas or data.  The MSM, and I consider RT to be part of it, are generally negative and often full of hype and BS.  I don’t listen to RT much any more unless Farage is going off like Mt Etna and that’s good for a laugh. 
    Still, when a knowledge essayist comes on, despite the silly questions, they might have something of interest to say. But they have to be a solid speaker with considerable knowledge of their subject before I spend time on a long audio post

  13. So, O’Bummer cuts his tropical vacation short in order to head back to D.C. for more Fiscal Cliff discussion, and PM’s start climbing in price.  Hmmm….

  14. The noose is tightening around the cartel’s neck. Every raid, available metals are scoffed up in droves and availability is dwindling. I see the evidence both on Ebay and in the news. We have heard some naysayers to this fact but the stock of actual silver is being assimilated and the end of their game is most assuredly near. A massive short covering is nigh…..a day, a week, a month…..it matters not. It’s not like the economic news is going to get better any time soon, in fact, it will most likely get worse! Silver is the play and holding is the game……..

    • “ It’s not like the economic news is going to get better any time soon, in fact, it will most likely get worse!”

      True but we all know that TPTB will spin the heck out of the news in whatever way seems of greatest advantage to them.  Their lackeys in the press will shovel whatever s**t they are told to shovel… and they will like it because they are being VERY well paid to do so.
       

  15. There’s nothing the cartel can do if people keep buying a few million ozs of silver a year over and above industrial demand.   The duckies are all lined up in a row.   Silver is only $4 off a multiyear low.    Wait until Constitutional Silver (or 90% pre-65 “junk silver) is trading for $3 over COMEX.   It’s coming.   

    Even if they did break down silver to $25 or below, I believe 100% that premiums on Eagles will be $5-8 minimum and more exotic coins like Pandas and Koalas will be even more.   Junk silver several dollars above spot.   100 oz bars at $3+/oz premium.   This is what I see as a possible early 2013 scenario.   Or maybe fiscal cliff fake resolution leads to “risk on” rally and US markets catch up to the rest of the world’s rebound, the Dow adds 1000 or so, everyone gladslaps themselves, meanwhile silver darts right back to $40 area and gold breaks to $1800-1900 over a couple months.    That’s another scenario, one which the Masters probably prefer rather than an equity slumo and loss of confidence in the “economy.”

    Remember, the Fed and the govt’s CHIEF AIM is too keep those Treasuries supported and maintain the low interest rates for as long as they humanly can.   The way they will do this is goose the stock market and other assets, later on, we will get the big drop everybody thinks is right around the corner, but really its quarters or even years away.   That will be the FINAL rush into the Treasuries and spike rates down to insanely low levels ONE LAST TIME.   That will be the optimal time to have a lot of PM exposure LOL.    You need to own it now though, it will be even more expensive to buy later when it really starts falling apart.  

    Physical investor demand off take of a few hundred million ounces a yr is entirely feasible and will happen.  Think about it, if there were only 2,3,4,5 million people in the whole world who wanted to buy 100 ozs you’re there, to say nothing about serious stackers.   We haven’t even begun to have serious institutional money come into silver the they have in gold the last few years.   

    Trusts, endowments, pensions, funds, sovereign wealth, central banks, individuals, EVERYBODY needs to have a physical weighting in silver as a percentage of your net wealth.   Everybody has to decide what % that it is, and at what prices you would buy more.

    As a personal anecdote, we didn’t want to cook tonight, so we ordered out at a casual chain sandwich shop and fed 4 people with 2 iced teas.   $43      So it cost MORE than 1 oz of silver to purchase a few sandwiches and chips for 4 people?!   This proves how small silver’s purchasing power is at $30/oz.   It requires almost 1.5 oz to feed 4 people a mundane low fare meal.   1 oz of silver for millenia has equaled 1 day to 1 week honest wage for skilled or hard work.   That number today in dollars is well into 3 digits.   And so it will be again as multi century MEAN REVERSION takes place.   And if you like gold, you can’t not love silver even more  with its superior and unique fundamentals.
     

    • I remember years ago watching a brat back movie from the 80s, and these two kids are sitting in a diner, and they order a plate full of cheeseburgers. A plateful! Of course, back then the 99p menu wasn’t available in the UK.

      Something I don’t understand are the estimates given by Casey Research’s Jeff Clark for the number of ounces of gold or silver it would take to survive prolonged high inflation.   His table didn’t seem to allow for any gain in purchasing power of gold or silver across the duration of the inflation period. It was flat. As if gold and silver only preserve purchasing power, and don’t enhance it.

      Does anybody else understand this?

      http://www.peakprosperity.com/podcast/80075/jeff-clark
       

  16. One of the crazy things about ZIRP and its evil cousin NIRP, is that if the fed continues to print our debt, while  backed with derivative puts to protect the banks handling this junk bond slop, they can price 10 yr notes at 1.8%, several hundreds BPS below any type of inflation level in this country or even a reasonable expectation of rate for a savvy investor who wants AA- rated sovereign debt. 
    The largest problem IMO is that interest rates will rise. This will not only accelerates the growth of the deficit but pushes our economy downwards. The Fed/Treasury ZIRP will try to ring fence this event like a lowland country trying to protect itself from rising waters using paper dikes.  Got galoshes?.
    The whole world is trying to sell  ZIRP offerings to contain their near universal 100% debt to GDP ratios. Any country with a manageable debt is too small to factor into this global debt fiasco.  These are facts  and are pretty much  immutable.
    If a country’s debt to GDP level goes to 90%, their GDP cannot rise more than 2%. It can be worse if the economy is in a recession. Most countries are in recession or entering one.  That’s pretty much a mathematical certainty.
      The government  absorbs so much capital via the financing of deficit spending, it crowds out business lending. Banks are fearful of lending due to unsettled economic conditions.  It also compels the banks to take the safe road, buying government  paper over anything else.   ‘Buy or else’ is the word on the street.  The banks play various arbitrage games to squeeze income from these spreads and can do so without undue risk. The pressure is immense to buy this junk given the small income incentive as a reward. But why lend to anyone else? Income is income and banks need to counter loses in other parts of their financial statements.
    Even if the interest payments continue to be made in a timely manner and there’s doubts to that, investors receive only a fraction of that income via the funds that hold this junk. These MMAs get paid first. A few pennies eventually lands in clients pockets since yields are ZIRP.   Investors are desperate, chasing ZIRP yields and rates are certain to rise. Values of the bonds will plummet, thus kicking off  the largest bubble destruction in history. The investors will be badly damaged; even destroyed due to their haste to chase yields.
    With a rate  factor of 5%,  the principal value of 2% UST bonds  could drop as much as 20-25%.  If rates go even higher, the value could go down by 50%. In the early 1980s 30 year bond rates went to 15%, killing off the admitted 13% inflation level, but the pain then lasted several years as borrowers could find only 10-15% money for investment purposes.
    This is what makes the forced investment of our IRAs into GRAs such a terrible deal.  A 3% rate offered up in forced GRAs will never make up for inflation increases any more that Social Security will go up fast enough to counter inflation.  ALPO– sale on aisle 12.  The GRA holders will see cataclymic drops in the value of their IRA holdings.

    The next step is NIRP, something the Feds will offer soon enough if for no other reason than that they can.   Investors will come running to the safe haven of US Treasuries like lemmings.  Hundreds of billions in Euros flee from the Eurozone.  NIRP is  happening in Europe and will be here soon enough.  What comes of bond values when rates rise from NIRP? Who knows.
    When will NIRP hit us. 
    Probably next year.  The Fed has no reason to be generous with rates.  Fearful buyers will take anything.

    In parallel to these factors, the last few months have seen the deficit rise to about $140 billion a month as tax revenues plunge. That comes to $1.7 trillion a year. This deficit will continue to rise in the next couple of years as the governments; federal, state and local, continue to absorb a larger and larger part of the GDP.   In two years this means a $20 trillion Federal debt.
     These 3 levels of government now absorb 43% of the $15 trillion GDP, up $1.3 trillion in the last 4 years. The GDP has increased not a single percent in the last 4 years despite the government’s increase take of the economic activity. Businesses will fare poorly in these environments.
      The private sector dropped to  $8.5 trillion from $9.8 trillion as the public sector rose  to $6.5 trillion from $5.2 trillion. And this level may be the best we can hope for. The governments cannot avoid their growth and that growth takes away from all of us.
    This trend will continue as the governments at all levels play a losing game while still able to fund their deficits.  That doubles the drain on the economy.  Most of this public sector  increase is government jobs; none productive.  Public jobs pull heavily on the private sector. This draw continues simultaneously with the $1 trillion in mandated entitlement tab just reached in 2012. More government means less jobs which makes the unemployment level rise. Government, once 35% of GDP, now 43%  WILL CONTINUE TO GROW,  YOY.
      If you wonder where those private jobs went, they fell into a chasm of government non-statistics, kind like a Soylent Green netherworld of people whom the bean counters no longer tally
    . If you feel lonely and a bit fearful about the future, there’s good reason. The black hole vortex of government spending continues and will whirl faster in the next few years as yet more programs are demanded by those whose lives were damaged and upset by our present depression.

    If the 3 levels of government continue to see declining tax revenues, a thing certain due to the decreasing GDP and private sector economic activity,  deficits will continue to rise and do so at an increasing rate as the years tick by.

      This will force rates up. The Greeks and other PIIGS pay this now. 4% is the best seen on the continent today. Even though the Fed has managed the ZIRP trick for the last 5-6 years, our rates can’t be held down much longer.   That string will run to its end and unravel. Investors will bid up alternative yields that must, and will be, reflected in the price of US Treasuries.

     We now spend about $500 billion of the insolvent  Fed deficit budget on interest with our  present debt of $16.5 trillion.  We continue to overspend and in two years we will have a debt of $20 trillion.  If rates move to 5% we’ll have $1 trillion interest payment, adding another $500 billion to Federal overhead.  This will increase the GDP drain and capital flow to finance federal, state and local deficits as all rates rise to meet investor expectations.
    This means the private sector portion of the GDP, dropping about 13% from 2008 to 2012 will, regretfully and sadly, continue its decline.
    I do not know what will come of this in the next 2-4 years.  I can only guess what will become of the average person or business owner.  No politician of any stripe can prevent this anymore than King Canute could push back the rolling tides. More than half of the elected elite seem determined to continue this erosion, a sad situation in and of itself. More than half of the electorate voted to continue ‘business as usual’
    The math is distressing. My skills in this subject, limited at best,  incline me to hope for the best; prepare for the worst, stacking precious metals to tide us over–but optimism is not on my mind at this moment.

    • “If rates go even higher, the value could go down by 50%.  This is what makes the forced investment of our IRAs into GRAs such a terrible deal.”

      Allow me to suggest that an absolutely HORRIBLE idea does not need to have any qualifiers added to it to demonstrate exactly how horrible it is.  Those of us who know how to invest and make money are NOT buying sovereign debt of any kind these days.  Yes, money can be made in any number of them… for now… but the amount that can be made does not in any way compensate an investor for the hideous level of risk that they take on when they buy this crap.  The sovereign debt bubble is the mother of all bubbles and to be forced into it knowing that it is a bubble and that it will pop / collapse shortly is nothing short of robbery on a gigantic scale. 

    • Bravo @AGXIIK. That was a great essay. Thank you. I agree with all of it. As a recovering mathematician, I reckon your number crunching is spot on. 

      It appears the only variable they can tinker with is time, and they have precious little of that.

    • You should be writing articles for The Doc. Magnificent way of outlay of the now and future economics.

      Well Done!

      Ranger

    • Rates will never allow to rise until they do.  When you see the 10-year go past 2%, then you better have your bags packed.  IMO, this is the trigger that the Fed and other central banks are preparing for a crash.  Just a 1% rise in rates would cost 200billion in interest.  More importantly is that a rise in rates will blow up the swaps and the put options to synthetically keep rates down.  The netting or webbing in the derivatives are so complex and huge that the contagion would be horrible.  The Fed talked about all this in the FOMC meeting in 2003.  Operation twist and QE was on the table 9 years ago and most Fed chairmen were against all the operations that the Fed has already put into action.  They feared that the Fed’s balance sheet would explode and a exit strategy would be impossible.  Well, they were right about this.  Vincent Reinhardt was the mastermind of all of these programs.  Greenspan and Bernanke get most of the press of these programs.  It all started when the Fed decided to go to the zero bound programs and lowering the Fed fund rate to zero.  This created all interest rate products(mortgage,student, car loans) to start to decline since money was so cheap coming from the Fed.  The biggest story of how the Fed dropped rates after going to zero on the Fed fund rate was to sell put options on the bonds.  This synthetically dropped rates without buying the bonds directly.  Put options are a form of insurance if the bonds fail.  Since rates were kept artificially low, the put options became very cheap.  This cheap insurance was bought by the truck loads by the hedge funds and banks.  They loaded up on this cheap insurance and got paid out.  The put options could never fall in price since the Fed made sure that rates would continue to fall.  Vincent Reinhardt said himself in the FOMC meeting in 2003 that the put option programs will be a success because they are selling a product that will never be paid out since the bonds will never allow to increase in yield.  There will never be a default on the US bonds since the Fed will always backstop the bond market if yields start to rise.  This cheap insurance will never be paid out.  This is why yields will never rise again on US paper.  The US is full on Japan.  Bernanke studied Japan and how they have been buying their bonds for 20 years without a default.  This bond bubble can go on for many more years.  It’s based on perception more then anything.  If the Fed can keep the perception alive and keep making people believe that the economy is turning in the right direction then it will continue.  The music keeps playing.  If people wake up or foreign investors that hold huge amount of dollar denominated products start dumping them, then that become a huge issue for the Fed.  There is many more moves to be made.  Probably many more years of this shit continuing in the wrong direction.  Rates will not rise or can’t be allowed to rise for as long as this system is here.  I still believe that if you see 2% on the 10-year, it’s game over.  That is my personal trigger point of all hell is going to brake open.

  17. I found Mr. Streible’s comments nothing short of amazing, considering that he seems to be a CME employee.  Either he is at too low a level to be “fully briefed” on what he should be saying or he is a straight shooter to whom is well worth listening.

  18. Is Gold The Ultimate Bubble? I kind of like this kid, different take on thinking.
    http://www.youtube.com/watch?feature=player_embedded&v=IuDZ4sux8Lg

  19. All of Us must ask this Question and I Rant: “How long is this piece of string?” Silver is going to do this, Gold is going to do
    that, the charts say this, the charts say that, wait till next year! It’s crap! Hell I am tired of waiting and I am not alone!
    Most posters here are scared to death and won’t admit it. Things getting better is Homogenized Horse Caca. Bloomberg,
    Capital Account and all the pluggers for the Raah, Raaih Boomdeaaaa stock market are shills for the frigging criminal banks. No expert knows the true value of Gold, Silver or the money that they have in their pocket. GATA, great organization, but can’t do a damned thing, Bart Chilton won’t do a damned thing. Do you know how long it will take to overcome the blatant manipulation of precious metals? It won’t happen in my opinion any time in the near or later future. There is not enough private money to overcome the World’s corrupt banking system and believing there is, we are being foolish.

    Chicken Little said “The Sky is falling” If anyone here can understand anything that Brother John says, please translate
    for me. His views are a waste of time for any outcome. In the good sense of survival Gerald Celente is the only guy that has his stuff together, but at least he knows the future sometime in the future! I remember that the main upstream Silver Gurus’s said Silver would close at $36.50 at the end of 2012, REMEMBER THAT? For the last few weeks have you seen any real positive input from Turk, Rodgers, Sprott, Willie and others. They don’t know either and neither does Phil Streible, an
    unknown still wet behind his ears!

    In a year or so I only hope that I can get back (I know it will be less) whatever I can for my stack of Silver and Gold.
    This CACA isn’t gonna end!

    Tell me WHERE and WHEN we are all going to see the frigging light at the end of this tunnel!

    • @Ranger Do you feel better for that?  ;)

      When your silver is worth $600 an ounce, it won’t be a very nice world to live in. In how much of a hurry are you?

      We all know where it’s going. The only real variable is time.

      My best guess is 2015 to 2019 at the outside. 

      I’ve studied all the exponential charts and, mathematically, they all seem to point towards something bad happening by the end of 2014.
       

  20. Tawn, I do appreciate what you are saying. The date of resolution keeps advancing forward, forward with no real end in sight.
    Hell I am 72 years old, have one lung and hoping that I can survive long enough to see my grand daughters survive
    with the prospects of what Silver and Gold can bring them and my family. I tire of hearing the Silver Saints sitting
    on the side of the bed and telling us all how good it’s going to be as the frustrations set in for almost everyone who
    have their life savings invested in Gold and Silver. Charts are worthless by the time that they are printed. The time lines
    of price advancements by the Silver Saints who write articles here are fading. Tawn,you have hopes of $600 per ounce and a time constraint of 2015 to 2019. How many others that post here would agree with that? Nobody knows anything for certain is what I am saying here.

    I hope that you are right about $600 Silver. If your wish comes true, mine will too. There are two sides to this equation.
    The right side which is us and the wrong side that deals in secret behind closed doors.

    Best Regards and a Happy and Safe New Year to you and yours.

    Ranger from Texas 

    • @Ranger I can empathise with you. I put my entire net worth into PMs, predominantly silver. On my advice, my parents did the same thing. My dad’s pension wasn’t enough to retire on so, while he carries on working, we decided to let it ride on silver too. All of it. He’s a little older than you and has one or two serious health problems. My mum died in September. She was in her early 60s. She had faith in me, she just didn’t live to see things work out.
       
      I am in my mid forties and I have time enough. I’ve been scouring the internet for bullishness for days. I need something to tell dad. The cost of living is soaring, PMs are being manipulated and nobody seems to know anything. I’ve been looking towards older, more experienced investors for guidance.

      If it’s any consolation, although they’ve pushed their timescales back a year or two, a couple of industry experts that I follow have upped their price targets for gold.

      James Turk released a video just before Christmas. He couldn’t say when, but he thinks it’s not long, maybe 2015.

      James Sinclair in the last hour or two has posted his latest thoughts at JSMineset. He thinks the gold price is going much higher than he originally anticipated, and that the smartest central banks are accumulating gold reserves for an event that he sees playing into 2015 to 2017.

      James Sinclair is about the same age as you.  And my dad.

      When you feel like crap, bear this in mind: if we’re going to be at something like $12,000 gold and $600 silver by 2015, the price is not going to stay flat until the last minute and then go vertical, is it? It will go up in fits and starts. The longer the period of consolidation, the bigger the next move. I think we’ll be comfortably at new highs soon. Wait for the next black swan.

      I think 2015. 

    • @Ranger I wish you and your family a safe and prosperous new year. 

      Regards,

      Tawnyard.

      PS: You need to take a break from this stuff, man. Go for a road trip, or take up a new hobby besides stacking. 

      Hell, let’s all do that!  

       

    • G. Edward Griffin says that it will take more than one generation to unwind all of this.  You’re 71. That is my parents’ age.  They did absolutely nothing while I was growing up to stop any of this.  They are doing nothing now.  Instead of worrying about how long this piece of string is you should be leading and encouraging the rest of US as previous generations did nothing to nip this problem with the banking industry in the bud.  If your progeny is not going to carry on with this fight after you are gone then you failed in your mission in imho.  Quit whining about it and keep stacking.  That is with all due respect sir. 

    • “I tire of hearing the Silver Saints sitting on the side of the bed and telling us all how good it’s going to be as the frustrations set in for almost everyone who have their life savings invested in Gold and Silver.”
       
      Just curious, Ranger.  What would you have them say?   
       
      As to having ALL of your life savings in PMs, that may or may not work out.  Diversification tends to be the small investor’s friend.  Going all-in on any investment often has its problems, because none of us can know the future.  This is why it is referred to as “the undiscovered country”.  Because of that we need to be careful, keep our eyes open, maximize our options, and, above all else, be nimble.

  21. Thanks Tawn,

    Good luck to you and your Dad. Sorry about your Mom, way to early for God to take her, but he needed her
    for his reasons.
    I know that your Dad and I have experienced our lives in very similar ways and know as I do that this is not the
    world we grew up in. Your Dad and I both have been there, done that at our age. My son is 40, daughter is 37.
    I suspect that using Mum to describe your mother that you must be British or Aussie. One Prime Minister is the better
    of the two.

    Take care of your Dad and of course yourself.

    Ranger

    • Thanks Ranger. I will.

      I’m British.  Welsh!     : )

      I know what you mean about your generation. In many ways, I’m envious. It’s a very different world now. And it’s about to change again.

      Hey, I’ve posted an ‘off topic’ thread in the prepping forum. I want to know what people here do to stay sane. Hobbies and such. Go on, be a sport and check it out. Maybe tell me about your granddaughters! Right now I’m gonna hit the hay. It’s wayyyy past my bedtime here in the UK. Take care,

      Tawnyard

  22. Hello Andrew (James) I suppose that any of us Seniors have the right to whine when we want to. The real problems
    of today have been caused by the Expansion of Credit not the pay as you go generation that I was raised. When you
    didn’t have the money, you didn’t buy it. So everyone welcomed in the Credit card and let there be a way that all could
    enjoy more luxury in life than my generation at the expense of the idea that it can be paid out. Internal inflation by the mere fact that no money was necessary to make purchases gave rise to higher prices by those who provided the services. Expansion of credit all over God’s world has landed us right where we are. We are now a bone yard of public and private debt that shall never be overcome. So what happened since then? Greed, corruption and broken families, loss of jobs, morality and generally hope. So you tell me not to whine, did you ever eat food from a “Victory Garden”?, was your first bicycle second hand?, did you have air conditioning in your school?, did you start to work when you were 9 years old doing odd jobs? Did you ever use your imagination listening to radio programs before television? I don’t believe so.
    How many of your family fought in Iwo Jima, Korea or the European front?  You, if you are young have no idea of what
    you yourself have given away for the sacrafice of future generations. If you live long enough to become a Senior, you will
    whine much louder than I. I say this to you as well with all due respect.

    Ranger and hanging in the best I can.

  23. Here in Europe, premiums on silver seem to have been pretty consistent the past year, between the highs and lows. A given dealer will for instance charge ~14% above spot, consistenly. 

    It’s difficult to gauge the junk silver market here, as it’s not as organized as the US’ one. In fact, it’s quite hard to get junk in any decent quantity over here.  




  24.  Here is another video with non other than Jim Rodgers. Who recently stated that he does not see Governments are not rigging or manipulating the markets. Hello? Lauren has sold out.. She probably is giving it out too. There was a show where Dimitri basically stated about giving it up freely.. Lauren was clearly stunned..

  25. Without a level playing field the price of silver will never be allowed to reach its true value. On the day this happens, the price of silver will double.

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