Silver Smashed 10% on Globex Open, Tests $20

silver crashPrecisely as we warned listeners on this week’s SD Metals & Markets, silver was greeted with an epic waterfall smash on Sunday’s Globex, plunging 10% to just over $20/oz moments after the open.
Percentage wise, the Globex opening smash rivals the 2011 May Massacre that took silver from $49 to $43.

silver

silver crash

While support has initially held at $20 with a low of $20.20, we mentioned Friday that a capitulation spike to $18 is possible, retracing the entire 2010-2011 bull move from $18 to $50.

Gold was also greeted with a waterfall smash tonight, but is still trading above the April 15th low of $1320:

gold

 

Meanwhile, 5 levels below 1 Chase Manhattan Plaza…

Comments

  1. Meanwhile, Bloomberg continues to report that Soros reduced his gold holdings, with headlines like this hitting the wires today:  ” Gold Bear Bets Reach Record as Soros Cuts Holdings: Commodities
    I never thought I’d have the chance to know what it feels like to live in an alternative universe.  Damn red pill.   Oh well. 

    • Cuts his “paper gold” no doubt… prolly actually did some Short Selling, 
      knowing of yet another price smash, or orchestrating one! 
      George Sorrows, lmao! 

  2. If the London PM fix manages to show a reasonable uptick and we see firmer pricing in COMEX Monday, that will be telling.  While I’m not holding my breath, it might happen.  The smash-down in the Sunday Globex market isn’t surprising when pretty much no major risk of physical-linked buying exists.  The cartel has done this move many times, with the May 2011 Doc notes being the worst example, and the Feb. 2009 Sunday take-down following the first act of Bear Stearns going bust being another classic example of obvious manipulation.

  3. I wonder if Sprott’s going to put mega-sized orders for silver at these prices.

  4. We are working on getting a solution back in place for the edit button.  Unfortunately it is not a simple on/off toggle switch and the programming was whipped out with the server attack over a month ago coinciding with the article http://silverdoctors.com/fdic-bank-of-england-create-resolution-authority-for-unlimited-cyprus-style-bail-ins-for-tbtf-banks/.  We are working on restoring all the original features one by one, but it is an expensive process for our contracted IT developers.  Right now, The Doc and I want to pour every last dollar we have into bullion which I think most readers can understand.  Rest assured, we will restore the edit button at some point.

  5. I see it like this…if gasoline went down to $1 a gallon in ten minutes, every Jerry jug or portable gas tank would disappear from the shelves and there would be lines at the gas stations and of course, they would be turning away customers due to empty tanks. Sounds a lot like the PMs to me. I think paper price is falling fast because most of those paper holders are freaking out selling the paper to buy the phyzz. This whole game won’t take long to play out and gold will be the victor along with silver. Pay no attention to the man behind the curtain.

  6. Now you see that all whom have kept buying. Still have lost money. Just keep waiting and it will continued to be smashed daily..Like I have previously stated time and time again. These so called financial or precious metals gurus need you and I to keep their companies afloat.. 
    Second now you know exactly why Eric Sprott sold what he sold early in the year. Massive take down was coming. We went from $50.00 to mow what $20.00 and these bankers keep getting bailed out and off the hook time and time again. In my opinion just buy what you can and kick back and wait for Jesus to return. Keep your families in order, full supply of food and enjoy and love one another. This is nothing but a game and quit worrying about it. Just keep your faith in God and prosper!!! Other than that we know this is all bullshit!

    • See, now that’s a REAL poster on this website! God bless you!

    • Keep Your Faith In God and Prosper, Heck you sound like Mr. Spock, netranger800. LMAO KEEP STACKING
       
       

    • Marchas45 Long time no see..Silver back to you. I’ve just been reading the blogs of late. When you hear Sean’s voice on SGT report with the disgust about Jim Rodgers, Marc Faber etc.. You know it is that bad. How many of you have found Silver Eagles for $20 dollars an ounce. Andy Hoffman of Miles Franklin feels the someway…
      What company has the cheapest premiums? Silver shortage?! Yes, & yet we are still seeing a slam in the markets when it comes to metals. 
      Again Eric Sprott knew what was coming down the pipeline and sold off. Now even though he did it for charitable reasons (so you say) He is a Billionaire! Hello?! They know the ins and outs of the game. Also for those who are living in Hawaii and are not of the native race. When things go bad they are going to blame you for the things that are happening! Make sure you have a plan of action and prepare yourselves..Things are heating up on the islands. Unemployment, Drugs, High Cost of Living and same political corruptions and or scandals as everywhere else. Make sure you in a place where your respected by your neighbors and vice versa.

    • YOUR ABSOLUTLY RIGHT! BUY IF YOU CAN FIND IT TO BUY, AND SIT BACK AND WAIT FOR MINES TO QUIT PRODUCTION, OR GO UNDER, AND PATIENTLY WAIT FOR INDUSTRY TO COME CALLING…GAME OVER !!!! HAVE COMPLETE FAITH AND TRUST IN GOD AND HIS METAL!!

    • VERY well said, NR… and it is just what many of us are already doing.  Lost money?  Hell, it’s just little green slips of paper that the Fed pulls out of its a**.  In exchange, we end up with REAL money instead of fiat toilet paper.  The paper price scheme has about the same sense of reality about it as a 3-stooges skit. 

  7. Good work doc… nice of you to have predicted this crash happening based on last weeks data.. I told you it was going to happen two years ago when we went parabolic. Im not sure why peiople here think that silver should not retrace its parabola  but they think apple should… Apple went parabolic and now has regressed to the mean… same with silver.. Its not going to 18 doc, its going to 16.. we always get the overshoot and undershoot…. 
    Anyways when it gets to 18 then ill load the truck… 
    People who wonder why i have bitched about this for the last two years its because its all about making money, and not buying high around 40 as the doc was saying stack the smack… now is the time to stack and stack BIG> 

    • @ILLUVPMs – The Doc, contrary to your framing here, showed humility by discussing on Friday’s show that even he questions his assumptions in the face of this take-down. You, on the other hand, consistently demonstate tone and behavior far below your intelligence. Stop being such an arrogant snot. Your views and preferably, your detailed backing-up of your thesis in advance of events (which I haven’t seen other than just price calls without accompaning rationale) is most welcome here. An echo chamber with nothing but a singular view, bull or bear, isn’t in anyone’s interest. But your snarky tone will do nothing to elevate your claimd desire for people to pay attention to your viewpoints.

    • Sorry for the typos….  It’s a price I’m willing to “pay” in support of BullRun’s bullion purchases ;-)   

    • @ILUVPMs – FW nails it.  Yes, you were calling for $18 2 years ago when we thought $32 was the bottom.   However the sheer arrogance and devisiveness of your posts is what turns everyone off.  
      Yes, now is the time to stack BIG.  We agree 100% on that.  However comparing silver to Apple is insane.  Yes, the move got out of hand in the run to $50, but silver still has less than 1% of the population invested in it, whereas Apple at its peak was owned by every hedge fund, day trader, and investor on the planet (including the Bank of Israel!) 

      -Doc

    • Oh how easy it is to say ‘I told you so’. However had silver not been massively manipulated down and shot well past $50. Your call would have been tossed into the trash bin long ago.
      Some have bought in the 40s, some in the single digits. Regardless, we know where this is going and all will be rewarded. So if you’re underwater, don’t panic. THEY WANT YOUR METAL.
      I had a leaflet shoved through my letterbox over the weekend from some shitty London sharks who want your gold and silver. They are paying top prices for anything, coins, jewellery, scrap.
      But why? Both silver and gold are in decline, just relics. Fuck that, you come down to sleepy villages looking to hoover up what little the people have. These people have no shame, just like the bankers. DON’T FALL FOR IT.
      Sit tight brothers and sisters.

    • @Jccjktj:  In the US, the sharks buying scrap had a big business going for a while.  It even reached the point where there was an ad on the SuperBowl;  that’s just about as clear of a sign of reaching the peak of the US’ cultural zeitgeist as one could get.  Interestingly enough, it seems like those businesses have slowed down considerably because most of the metal has already been hoovered.

    • @Flying Wombat: A superbowl ad! Clearly PMs are not in a bubble. When I see all these cash for PM shops gone, then we might have hit the top. Until then, there is a long way to go. I have seen 6 of these shops open up near me in the last 6 months. They all look like porn shops, very trashy. They all buy, never sell. Says it all really. But when the London ones start renting local halls in sleepy villages to try and get ANY PMs they can, that reeks of desperation. I want to tell those in my village not to cash in, but I decided long ago to keep this on the down low (sadly).

  8. One raid after another. Who cares! The people are starting to get really tired of these criminals and their high life styles. One day the people with gather and say enough is enough..Until then keep taking it in the Okole and move along like good little boys and girls. America will and has pissed off some many of our allies with the greed and bulling of other countries. 

  9. Sprott sold just nicely in time. Another effing insider telling others to buy while he is selling himself. 
    Will stop listening to all these bloody “gurus”…surprise surprise, they are all selling silver to retail market or some services related to it.
    Totally useless bunch of wankers. 

    • It is over. The paper prices will be driven to 10 dollars or lower with silver. Why, because they can and there can be no competing currencies to the almighty dollar.
      The sharks naturally then buy all the physical metals for themselves when the “stackers” are vomiting them in complete disgust. Seems to me the only prediction that Sinclair and bunch have made is that the bankers will get almost 100% of the gain of this so called PM bull market. All others will be crushed with the pumps.
      Who cares if this is criminal, when nobody will ever get sued and regulators are only looking the other way. FED has unlimited dollar pump at their disposal and therefore the old saying, don´t fight the FED.
      Done, they have won this game!
      Last drop is to push everybody into dollar and us stock markets and then completely annihilate both. Thereafter welcome new world order and world currency. Controlled by who, of course the same fucker criminals. And the same screwing of people start again.

    • @Silverdude:  Sprott didn’t sell PSLV outright in the way you imply.  He sold some under a charitable trust so that the charity could be funded, and this has been going on for years.  In addition, he added mining shares to replace the remaining PSLV he sold because he (just like George Soros) decided to reduce bullion exposure and replace it with mining stock exposure given that the decline in mining shares has been much greater, offering the prospect for better returns on a resumption of the bull market.  You can think whatever you like about him, but the facts are not as you describe. 
       

    • @Silverdude @Flying Wombat
      I do agree with Flying Wombat on this, however, I do feel Sprott is in many ways of little help to the common man. If I had the money, I would never buy into PSLV. You are tying up your money and not holding the physical. I don’t doubt Sprott’s integrity, but when the time comes, you won’t be able to get your metal. Because I believe Sprott won’t get his metal either as it sits in HSBC vaults. I’m sure Sprott has a personal stash well away from the PSLV pot.
      The only true way for us all is holding our own. PSLV still has counterpart risk, as do GoldMoney, BullionVault etc etc.
      Don’t forget, the little man will be last in line – ALWAYS. Hold tight, HOLD RIGHT.

    • @Jccjktj:  I agree about counter party risk remaining, and it exists to greater or lesser extent for all of these instruments.  For someone that has a serious amount of wealth to hedge, there’s a place for these in terms of diversification.  But for most people, coins in hand and stored as securely as possible but still in direct control is the best option.
       
      By the way, you’ve got PSLV mixed-up with SLV.  HSBC is the custodian for SLV and I trust them as far as I can spit.  Sprott’s PSLV has bullion stored with the Royal Canadian Mint.  That’s better than HSBC, but not perfect.  For the wealthy out here, private vault storage in diversified political jurisdictions (geographies) along with some in the vault of six feet under in the “back yard” along with direct ownership of mining shares (no “street name” share holdings) makes the most sense.
      Regarding the gold buying shops, I actually expect most of them to vanish long before the top because the public will not have enough bullion (in the West) to support all those scammers.
       

  10. Silver has dropped neaerly day, regular as rain for the last 3 months.
     DOW and S&P have gone up almost every day for the last 3 months.  Both actions are unreal, unsustainable and bound to correct.
    Silver is down 35%, $33 to $21
    That rings my bell for some sort of Fibbonaci number.  Who is up on that system and does it mean something in this case?

    • @AGXIIK:  You’re actually on to something.  While this wasn’t a primary part of my thinking because I’m not a huge fan of technical analysis in rigged markets, all along, when thinking about the $22 level it did occur to me that the standard 38.2% Fib retrace level off of about $35 would have quite a few TA-inclined traders thinking about the fact that the Fibonacci retrace level also matched what was, roughly, support at $22.  It’s more art than science and highly subjective.  I used the $35 level just because that proved to be the line-in-the-sand resistance for the cartel on the last upward push.  But a standard 38.2% fib decline off $35 = $21.63/oz.  Interesting, indeed. …and it’s 38.2% for the Fib number, not 35%.  But again, it’s more art than science.   I don’t endorse this stuff.  But I do follow it because I know many others follow it and in non-managed markets it does have a tendency to work, precisely because a lot of money managers and traders do use Fib TA.

    • from jsmineset yesterday!: http://www.jsmineset.com/   *** so important, hardly reported – yet….
      While mainstream news sources continue the war against gold and gold-related investments, three of the world’s top performing hedge fund managers have been busy at work building speculative gold positions during the first quarter.
      George Soros, John Paulson, and Steve Cohen, who in aggregate control over $60 billion dollars, have been aggressively buying the most speculative vehicles associated with gold: call options on gold mining stocks.
      Starting out with, George Soros, billionaire financier and chairman of Soros Fund Manangement LLC, was the target of bearish gold commentary this week issued by Bloomberg. While Bloomberg journalists correctly reported that he’s been cutting his stake in gold, what they failed to mention (which was articulated here on May 16th), was how he reallocated the proceeds.
      Soros indeed cut his stake in the GLD gold fund by about $2.5mm—a paltry sum, especially given the fact that he simultaneously purchased a massive $25mm in call options on the GDXJ Junior Gold Miners Index. This purchase outweighs the physical gold sale by a factor of 10—suggesting he expects much greater gains ahead to be had in the junior mining stocks.
      Reported exclusively here on February 19th, was Steve Cohen, founder of SAC Capital Partners LP, purchased a $60mm option “straddle” position on the GLD during Q4 2012, which represented the expectation of an explosive move in gold—either up or down in price. Indeed, that is exactly what occurred, and during Q1, SAC Capital Partners closed out that $60mm straddle position (no doubt at a staggering profit), while at the same time buying $66mm in call options on a major gold & copper producer. The firm also maintained over $76mm in long positions on mining equities during Q1.
      The largest of the trio in terms of gold positioning for the quarter, was John Paulson, founder of Paulson & Co., which reported owning over $4.389 billion in total gold holdings. Paulson held firm his $3.3 billion stake in GLD, and further added a shocking $92mm in call options on two major gold mining companies.

    • If you asked me, might be more than a few on the GDXJ list potentially becoming takeover targets. I do not see the sector steaming ahead with other miners anytime soon…must be a takeover play by (insider) Soros. I also think EXK would be a good target, same for IAG. Hedgefunds buying then going private?! If key PM resource companies are taken private…chilling. 

  11. Didn’t Bo Polony give us the all clear Mon/Tuesday last week?

    • There is another “expert” and “market timer” going down with a smoke. Every time one of these guys has been saying gold or silver will never go again under nn dollar value, it will do so pretty much 100% of the time. It seems like it is a challenge given to the banksters and they can move the lever anyway they want with the futures. Foolish, foolish, foolish. Rates and dates are useless and actually harmful to be given as nobody knows them (other than the banksters) and many people have bought at exactly wrong time because of these “gurus” and are severely under water now.
      And it really is not helpful other than for the retailers of metals to keep saying that keep on stacking at whatever price. Oh but wait, it is actually normally the retailers or related parties giving the advice to do so…not sure which side is actually more harmful, it seems sometimes difficult to decide.
       

    • Bo… the boy wonder who tried to charge 20K for his subscription… ya right.. 

  12. im not gonna lie, when i saw the open, i pooped my pants a little.   :(

  13. Soros indeed cut his stake in the GLD gold fund by about $2.5mm—a paltry sum, especially given the fact that he simultaneously purchased a massive $25mm in call options on the GDXJ Junior Gold Miners Index. This purchase outweighs the physical gold sale by a factor of 10—suggesting he expects much greater gains ahead to be had in the junior mining stocks.

  14. Stackin Stackin Stackin
    Though the hacks are hackin
    Keep those stackers stackin Rawhide
    And let those settlers settle
    Cause 3 digit metal
    Await us at the end of this ride

  15. I like to keep an eye on the Sunday evening open. The croocks love these little ambushes. As AgSlicker said. If this were gas we would be jumping for joy and filling storage containers. I think that is a good way of looking at this. The next guy or gal to wake up, has a chance to start thier stack at the on sale price! What else can one buy at the 2009 prices these days? I’m seeing Ag being offered for about 24$. It’s been said over and over that TPTB could take the price down to zero. I never really thought they would go this far or I would see these kind prices again. But the low low price of zero sounds pretty good when one wants to buy! Those stackers that bought in at 4$ an ounce. Anyone else ever wished they could have stacked a little around that price? Who knows maybe we’ll get the chance.

  16. The rising protection team is doing his job very well. Bravo

  17. I have a question regarding the miners–hopefully someone here can clarify,
    Spot prices for both gold and silver are currently below most miner’s all-in costs, and as such, most miners are currently operating at a loss. But why must these miners continue to sell at the spot price when the physical demand is clearly enormous at these levels (i.e. the equilibrium price is well above the spot price)?. Physical demand and operating costs should dictate prices for the miners. Why don’t the miners sell at a level that makes sense in terms of both demand and what it costs for them to mine it? I mean, in any other industry price is set in this way–is it not? Additionally the paper spot price has proved to be anything but stable. Could you imagine owning a business where prices were whip-sawed like this on a daily basis? It’s insane.
    Either way i see that something has to give at these prices. Either supply will fall as miners are forced into bankruptcy as they are (for some unknown reason (contractually obligated?)) locked in at the spot price; or, the spot price loses more relevance as the mining industry moves away from it as a pricing mechanism in a way to avoid bankruptcy and remain profitable.

    • @silversaving: I think one part of the problem is the overhead costs of getting mines into production, If a miner goes to an institution like Silver Wheaton for capital, Silver Wheaton doesn’t want to be repaid in cash but rather in silver at around 3 dollars an ounce! NO KIDDING! How can these mines then sell the rest of their product at higher prices? These mines should tell their banks and financiers that if they get a cash loan, they will repay in cash! If an auto company wanted a loan would they be expected to repay the loan in new cars? I don’t know all the reasons but this is one that always bothered me. I’ve wondered if Silver Wheaton is part of the manipulation!

    • Prices whipsawing… try being a farmer, check out the corn and soybean charts for the last 4 years!
       
      Supply will fall as more miners stop mining, but extended periods of high prices could have allowed them ample opportunity to hedge their production at higher levels.  Depending how long, if at all, they hedged could determine how long they could keep mining despite lower prices.
       
      Also, I’ve read that many mines producing silver as a byproduct have much lower costs… they’re mining anyway, the silver happens to come out of the ground, the costs to get it are incremental.
       
      Unless a mine signed a contract like Rocket suggested (i’m going to do some research on silver wheaton, that is interesting if true), then the mine is not obligated to sell at any level, if they have their own storage facilities they could pull the metal out of the ground and keep it in inventory to keep it off of the market.  Alternatively they can hedge when prices are high enough to justify returns.

  18. I would like to submit my vote for Humanitary of the Year to the Federal Reserve for their outstanding contribution to ensure all of humanity gets to buy gold and silver at bargain basement prices in the last 30 days. This acheivement will ensure everyone has a chance to buy before the collapse of our economic system.
     
     

    • GOOD ONE!  AND THE CFTC FOR THEIR BLIND EYE AND GREASED PALMS BY THE FED. WHAT A JOKE. I WOULD LOVE TO GIVE BART A CREW CUT. OR MOWHAWK! AND SUPER GLUE THE CUTTINGS ON GARY’S BALD HEAD!

  19. I am fully aware that there is a gap in educating yourself in certain areas but I am, honestly,surprised at how many here in this Forum just don’t seem to get ‘it‘. Let’s go over it one more time:
    The paper price of Gold is collapsing – as it should. It is valueless and has no backing (or at best 1/1000th backing). All this means is, IF you can still obtain it, physical Gold is on sale like never before in history (in relation to its true value).
    Kudos to Doc for extolling his own SpotPrice decline, but as a percentage of time spent since this site’s creation – he has almost exclusively promoted a higher Spot price – especially for Silver. He and most Gold community pundits have been dead wrong – making me think that they still don’t understand what is transpiring.
    You may wish to read about your friends the same Physical Gold Advocates who have been predicting the paper price decline for a long time. To condense that theory.
    a) paper price will crash (but eventually be halted)
    and because of this
    b) owning miners to take advantage of leverage is out of the question. This sector suffers most from the paper-physical seperation.
    c) A revaluation will occur… in Gold only, none of the other PMs. (many details discussed on this Forum before)
    meaning…
    d) You want to own Gold at all costs, not Silver, Platinum, copper etc. (donning flame retardant suit)
    You don’t even have to use Game theory or understand risk to know that holding is far more important than timing because one day your timing will be off – and the benefit to holding is so great that you will regret not being all-in.
    So, in a nut-shell, don’t buy the Silver shortage story or the coin sales inventory stories – they are irrelevant. PMs are not supply/demand – they are Stock/Flow. Just buy physical Gold because one day you won’t be able to buy it…. anywhere – it will be in such strong hands. I know you don’t want to hear this but Silver will always be abundant. It’s Industrial demand will drop off a cliff as the world economy shatters. Silverbugs will sell their AG for survival (so will some Gold holders.) There is a reason CBs hold Gold, not Silver. And despite your fist shaking CBs aren’t going anywhere
    Those who say ‘there is no solution‘ really only mean ‘I can’t see a solution‘. Folks, there is one and its staring you in the face. Yes, I expect Hyperinflation, but not followed by 60-100 years of Deflation.
    What do Sovereigns hold? Debt and…tonnes of…
    It will be revalued to astronomic heights once the paper market fully crashes (that process is happening…. daily). Think 100′s of times its current value.
    Best of luck,

    • @DVDBeaver: I’ll leave my favorite flame thrower in the closit for now but, I must respectfully disagree**! When the event happens regaurdless of what industry does or needs there will still be a need for money for exchange. When the other 99% realize what money is again it will revert back to SILVER. All the silver mined in a year is only enough for one dime per person. Gold nine times less than that. Silver is money. It will be revaulued against other comodities and at a S/G ratio of 60/1 Ag is the best mony money can buy! Au is a pony in a horse race! A knife at a gun fight!

    •  
      DVDBeaver, You stated the below:
      “I know you don’t want to hear this but Silver will always be abundant. It’s Industrial demand will drop off a cliff as the world economy shatters”
      I have a grade three question. When the economies shatter and demand falls off a cliff….how will silver miners or any miners be able to operate in this environment you are describing. Your scenario describes the water level falling (prices) but the boats (miners) still mysteriously floating at high tide…..care to reply?

    • @RocketsRedGlare
      Thanks for keeping the flamerthrower with only the pilot lit. :)
      When the event happens regardless of what industry does or needs there will still be a need for money
      Yes, I KNOW you won’t like this - but it will still be paper or digital. It won’t be Silver or any hard money. Looks what happens in every other Hyperinflation! – they tack on another zero or two and/or develop a whole new paper currency… and GUESS WHAT HAPPENS! The sheeple buy into it all over again! These pundits who claim we’ll be buying groceries with silver and houses with gold are delusional. Ain’t gonna happen – let’s live in the real world.
      When the other 99% realize what money is again it will revert back to SILVER
      How much success have you had convincing friends to buy Silver? Maybe more than I have. Just because YOU and those in this Forum are smart enough to have woken up – you seem to think EVERYONE else will. They won’t. Sorry. Their indoctrination into paper is too deep. They are too far gone.
      Silver is money.
      No. Credit is money. Silver is a commodity. Yes, despite history. Digital will never overtake AG… or anything else.
      S/G ratio of 60/1 Ag is the best money money can buy!
      My my my…  In 1923 (Wiemar) in one week the SGR went from 15:1 to 160:1 / From 1929 to 1930 SGR rose from 29:1 to 63:1 in one year, in 1932 it was 81:1. Depths of the 1991 recession it peaked at 100:1.
      Do you expect good times ahead? or bad times?
      My suggestion is to avoid the irrational communication of the pundits like David Morgan (never see $30 Silver again) or Sinclair ($1600, Bo Pony etc.) or Turk (when Silver was puishing the high 40′s he said in 45 days it will be $70!) or Sprott (how those mining shares do’in Eric?) or any of these guys who have been consistently wrong. It’s time to cut the apron strings with these chaps.
      Gold will be used in International trade (think Oil) and the astronomical price will allow little gold to buy a lot of Oil. It is the last piece of this Freegold puzzle. Countries need it and Oil Producing Nations won’t accept defaulting paper for it. The price of Oil is built into everything and your country devolves pretty fast without it. The ‘leaders’ (if you can call them that) fear one thing -> that we get so pissed off we climb the fences and start stringing people up from lamp-posts. They won’t let it happen. They will succumb first. Gold revaluation is their only solution. That imbecile Krugman actually hinted at it with his Platinum coin gibberish.
      Surmise… if CB’s could secretly hoard Platinum and revalue it to pay debt (All the Pt in the world can fit inside my modest basement!). Only one big problem – Platinum is ‘used’ (pacemakers , Catalytic converters etc.) so if an ounce was revalued (forcing the Market unnaturally, btw – I know, they’d NEVER do anything like that :) ) to, say, a million USD an ounce, even the small amounts in industrial use would be enough to encourage possible looting, stealing… even murder. So what, the heck, can you use? What is, essentially, useless?…. E-X-A-C-T-L-Y (light bulb goes off over our collective coconuts). GOLD! Get You Some.

    • @Paultm
      Hi!
      care to reply?
      Certainly, and I don’t consider understanding Stock and Flow vs Supply / Demand grade 3! My eldest ion Grade 5 gets it though… with his Pokemon cards. :) It’s not the scarcity – it is how fast they trade.
      Silver will always be abundant
      It will be abundant because it will always Flow.
      When the economies shatter and demand falls off a cliff….how will silver miners or any miners be able to operate in this environment you are describing
      You are then assuming that anyone wants Silver when this transpires. If they only need 1/2 as much now for Industrial and most of you Silverbugs will be selling to pay the bills – flow is still active but even in your scenario – demand falls. Anyway stop focusing on demand! It has nothing to do with the paper price. Can we agree on that?
      This last crash should have been a telltale. You can’t buy a Maple or Eagle anywhere for a day or two and then the price only goes up maybe $5-10 over paper Spot? Now it is back down. Besides quoting Mint sales figures is silly (Supply/ Demand again). It only works with Gold as it is on a large scale. Giants buying… not a few of us hyperintelligent Physical Gold Advocates buying coins. THIS is what makes it the opportunity of, not only a lifetime, but of ALL time. Gold only needs to be revalued once – it will be more than enough.
      BUT most of the Gold (say 95%) lies still in the world. It doesn’t flow much and soon won’t flow at all. This is when the value will show its true face. It’s been held down by the paper market for decades. It will be glorious. Gold. Get you some.
      As Blondie says: “As an unencumbered physical asset, gold is the single objective reference point from which the relative value of all else can be ascertained.”
      Peace Brothers in metal.

    • K…no disrespect but I will post this again so a grade three student can answer the question I asked.
       
      DVDBeaver, You stated the below:
      “I know you don’t want to hear this but Silver will always be abundant. It’s Industrial demand will drop off a cliff as the world economy shatters”
       
       
      When the world economies shatter…many producing mines will close (period), thus constraining supply or even discontinuing supply. How is it you see falling prices when there is no supply even amidst reduced demand.
      Not certain what you are attempting to communicate as follows:
      Silver will always be abundant
      It will be abundant because it will always Flow. (Whattttt!!!?????)
       
      anyway…don’t bother with a copy and paste semblance of your rudimentary understanding…you last attempt says it all!
       
      Peace and Love!

    • Since ‘BLONDIE’ was mentioned in this thread, as giving a view on gold, it doesn’t surprise me as such, given the lyrics in the Blondie song ‘DREAMING’:

      “Imagine something of your very own
      Something you can have and hold
      I’d build a road in GOLD
      just to have some dreaming”

    • @Paultm

      no disrespect but I will post this again so a grade three student can answer the question I asked.

      Firstly, comments like this
      copy and paste semblance of your rudimentary understanding
      are disrespectful, Paul.

      and since I suppose you will keep asking till you get the answer you are looking for… here:

      Silver to the Moon! BUY BUY BUY! Crash JPM! $500 Silver this Year! Everyone will buy Silver when the dollar crashes, BUY BUY BUY!

      I hope this instills a sense of happiness in you. My comments about Silver are not directly attacking you, Paul. There is no reason to get upset or be insulting. You are welcome to disagree. This is why they have horse races.

      comments like this though:

      It will be abundant because it will always Flow. (Whattttt!!!?????)

      Show your lack of understanding. I repeat – even my 10 year old understands Stock and Flow.

      Best of luck with your Silver…

    • DVD, I agree with a lot of your opinions.
       
      One fact to check is gold backed by paper.  I did a calculation recently in COMEX gold and it was 55:1 (far from 1000:1), silver closer to 6:1.
       
      Full disclosure that is comex only, not all paper products.

    • No disrespect intended….but again…you wander off on a tangent……weeeeee……
      (the simplest of questions….unanswered)

  20. Where the heck did the edit button go?— regardless,money,revalued…

  21. this is why they are luciferians…very evil ,there FIX on Silver will not last….the Billionair Silver KINGS better FIGHT back with INFOWARS ,mining is NOT the answer ,stoping the luciferians shoild be the FIRST order of business  IMO…EXPOSE the luviferians and watch them run like roaches..

  22. Why would central banks hold silver?  Gold is more expensive and takes up less space…if the ratio was 60:1, could u imagine them stashing silver? lol it would take up 60x more space which im sure is why they dont hold hold it not because it wont be profitable..every major event in history silver has always followed gold, what would make this any different..yes industrial use will fall off a cliff but at that point i suspect will be when the whole world is trying to rush into Pms…the us mint or whoever can only mint a certain amount at a time n i believe will be unable to keep up demand…if they shut down 3x already at this point in the game can u imagine what it will be like for them when there is a mania?….i think when people wake up majority of people will want ase, maple leafs, ect and not rounds or other non mint products…i think the sheer amount of people tht will be rushing into silver will be enough to drive the price of silver regardless what the industrial is doing…yes i think only gold will be revalued, maybe, i hve some to, but i still suspect silver to very well or perhaps perform better than gold…well atlease i hope that is what will happen for i hve alot more silver than gold but who really knows, noone knows what willl happen…people say that there will come a time to dump silver which is true but because a new system will be in place and no need for. It just gold…but if the world is better and faith in a new gold system, why hold hold either?  Wouldnt people at that point sell there gold to exchange it for new fiat if theres faith again? Why hold gold either at that point..unless its $100k and u want to keep one just to look at it from time to time

  23. Why not Spend a few Million broadcasting the truth ,open the eyes of the public wake them up ! so they can start stacking Silver/Gold and break the luciferians forever..

  24. Interesting “normal market” trading all day through London and through the COMEX open.  The reason I said above that the London PM fix would be the true test is that even though the LBMA is mostly a paper casino at this point, it still serves as a market with huge physical off-take and when the cartel bombs the PMs when the LBMA is open, it comes with the cost/risk of the cartel sustaining physical off-take, which reduces their power. 
    It looks like all they have been able to do so far was the intial smash down.  The next critical test will be what happens when we move into the thinly traded Globex afterours trade in New York today.

  25. Let us say that gold is revalued, but no other commodity.  A new digital or paper currency makes the morons all happy again, and off they go to the races.  Economy fixed !   Huzzah.
    Industrial activity would certainly increase, and grow as all this new and trusted fiat reaches high velocity and products are flying off the shelves again.
    Wouldn’t all these new toys contain quite a bit of silver?  I am fairly certain they would.  Yet the miners are dying or dead from starvation.
    Bullish.  We can’t lose holding the phyzz.
    It’s a war of attrition, and he who holds last, holds best.

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