“The Bond Market’s Calling Bull**it on the Fed!”
Legendary Silver Investor Eric Sprott Breaks Down the Gold and Silver Markets in the Wake of This Week’s FOMC Rate Hike:

From SprottMoney:

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  1. Is it incredible what could happen here? Or it will be more un-incredible side-wise grinding.
    Seems our community for a decade has been howling of price manipulation, and supply shortages. For price manipulation, we point to the COMEX Open Interest and for supply shortages, we cite anecdotal evidence, or the Silver Institute, and we don’t seem to be able to come up with much else. Eric Sprott admits he’s baffled about where the silver supply comes from. Bix Weir surmises that it comes from magnets used in the Manhattan Project.
    On an optimistic note, rising crpyto-currencies, real estate prices, and Palladium (as well as bloated stock and bond prices) are leading edge indicators that inflation has arrived, despite the falling ‘’velocity of money’’.  Funny that Palladium is almost as much as Platinum.
    As a rough guide, I use annual mine production of 25000 tonnes silver, 2500 tonnes gold, and 250 tonnes platinum-though in 2016 platinum production was apparently 178 tonnes. If Platinum is as much as Palladium, whats to stop auto manufactures from hovering up all the Platinum, which is supposedly the superior catalyst to Palladium.

    Maybe Sprotts right, and we will suddenly have another 2011 spike as supply disappears. Likewise Cliff High got the crypto timing right, and says this summer is silvers turn. Then the ‘’better 5 years too early than a day too late’’ crowd will be vindicated.

    Anyone whose invested as much time and sweat in the silver price as I have over the years, should consider how to leverage silver if/when it rises, with a portion of their fiat. I got a doozy if anyones interested and wants to PM me.

    • “Seems our community for a decade has been howling of price manipulation…”

       

      Indeed.  Some people just don’t like things that are ON SALE.  Oh, well.  Guess they want tp pay more for what they are buying.  Personally, I LOVE things that are on sale as long as they are things I already want to buy.

      Just look at it this way.  Given the price of gold today, does anyone who bought gold decades ago really care if they paid $50, $100, or $200 an oz. for their gold?  No, they do not because they have a huge gain regardless of their initial cost.  5-10 years from now, it is entirely likely that many will look back on today and cry about the fact that they did not buy all the $1250 gold and $16.75 silver they could afford when it was available.

      Oh, well.  To each their  own… and may we all deserve what we get and get what we deserve.  😉

       

    • @Faranginkorat

       

      “There are some people on here who are a lot younger than you are.”

      This is obvious.  And your point would be?

       
      “You might have paid $50 fr your gold, but they paid $50 for their silver.”
      Lol… I WISH that I had bought gold at $50, $100, $200, or even at $400!  But the thing is, while I was alive at those times, I had very little money when first starting out.  What little I had went to life’s necessities.  There was no “extra” money back then.  I saved a little but it was just a few dollars here and there.  I had a career to build and a family to start so things were nip and tuck for a while.
      As to paying $50 for silver, this came MUCH later than the early days of cheap gold.  In fact, when silver prices went above $35 an oz., I hadn’t been stacking for long and was only buying small amounts but quit buying any of it at that price. That was part of my wealth accumulation plan… not to overpay for assets.  Sometimes this works and sometimes it does not but the key is that it seldom causes significant problems in one’s financial life.  As always, I have tried to play the odds as best I could.  That this worked far more often than it did not was a good sign that I was on the right track.

  2. Yep, incredible.

    Real estate:  to the moon.  Stocks:  to the moon.  Bonds:  to the moon.  Collectibles:  to the moon.  Cryptocurrencies:  to the moon.

    Precious Metals:  stuck in the flat desert, starved of food and dying of thirst.

    • Pretty much. We stackers just so happened to select the one market that has been brutally suppressed while everything else explodes to the upside. We did it for the right reasons but that does not cushion the blow very much when you consider the opportunities that were missed.

      The ardent PM investor will tell you that gold and silver are money and that their value should not be viewed in fiat dollar terms. That’s all well and good, but an erosion of purchasing power is an erosion of purchasing power no matter how you slice it. Dollar cost averaging into PM’s over the past several years has been a bad allocation of capital and a terrible investment performance wise.

      Maybe things will turn around later this summer but if the past 8 years are any indication PM’s will remain stagnant and under the thumb of the bankers.

    • “Dollar cost averaging into PM’s over the past several years has been a bad allocation of capital and a terrible investment performance wise.”

       

      I wonder if everyone who buys life insurance gets PO’d when their investment in those policies doesn’t “pay off”?  Not likely.  Somehow, this strikes me as the same sort of thing.  But then, those who have read my comments know that I’ve never recommended that anyone buy just ONE class of asset and that everyone should be diversified across multiple asset classes.  Does refusing to be “all in” with PMs make me not a stacker?  Whatever, I can deal with it.  🙂

       

  3. @JOHNLGALT

    Silver kitchen? I like that. after firing up my new  6 burner bad ass BBQ.  Now to find me some cows to burn

    We get served gruel on gold plates.

    ‘Please sir, can I have some more?’

    Sure sonny, here’s your gruel and a turd sandwich to go with it.

    As one who’s had his ass kicked regarding the price of gold and silver more time than probably anyone on these boards and can count his paper losses in the 7 figures (maybe making me the chief F Tard of all F Tards)  what the hell are you going to do?

    Bitch and moan about this, cry like sissies boys about how crypto currencies have gone to da moon or suck it up and shut the F up.   Maybe I should call everyone a WAAAAbulance.

    That’s life.  Sometimes it deals you a full house. Sometimes it deals you an out house

    Roll with the punches and enjoy life a little bit.  Otherwise you’ll die old and miserable because the bad old bankers and the other assorted sons of bitches did ya wrong

    • “Silver kitchen? I like that. after firing up my new  6 burner bad ass BBQ.  Now to find me some cows to burn
      We get served gruel on gold plates.” 
       

      Sounds good to me, here’s the cows. You supply the gold plates, – and you could probably invite the crew around.

      p.s. I don’t know if you should invite TEX, (he might recognise his cows). he he 

       

    • @AgxiikRoger that.Not quite in the 7 figure loss club but can relate.Its been a frustrating  journey BUT the payoff for those with  patience will be HUGE.Just hope payday comes before the walker does!  

  4. Don’t worry Silver is going up very shortly and then everyone can help their neighbors the rifraf. Hold a door open for a women and get no thankyou put your kids through college just so they can live home with you ask your wife to cook , oh no the peas are soggie and the corn tastes like wood. You could be me.Lol I need a vacation cause I don’t remember what it feels like to get away just so my Love can tell me how to act and what to say and not say but by the time I do the dollar won’t be worth do do.

  5. @JOHNLGALT   Funny thing about our new place

    We got fields of cows,  black ones, brown ones, brown and white ones

    All I see is a huge sign saying

    EAT ME   PLEASE EAT ME   BRING YOUR CHAIN SAW AND WINCH—JUST PLEASE GET WITH IT AND TURN ME INTO STEAKS, CHOPS, ROASTS—ANYTHING THAT FITS ON YOUR GRILL

    Signed Bossy the Cow

    Where’s my Stihl?

     

  6. was 100% long after the collapse of Lehman as “when don’t they hyperinflate?”

     

    had to reread my History of Weimar though because while i quadrupled my money being long funny money yields were still ridiculously low given the energy boom…

    so 100% long Treasuries i went…just in time for the entire commodity complex to collapse including gold and silver and for yields to go negative in Europe.

     

    Clearly “global Weimar” was well underway.

     

    Been 100% long physical silver ever since and couldn’t be happier.

     

    hit a low of $11.90 US an ounce and has never looked back since.

     

    There are other items of enormous value once pricing begins to reflect the hyperinflation.

     

    Not in energy of course though..

  7. What does anybody know? Apply the flame to the jiffy pop and eventually the pan starts to sizzle and it swells up. Everybody knows that.  Same principle applies here.  Things will get popping.  Eventually.  More Silver.

  8. @Inlikeflynn    Yep, mostly paper loses but I sold some of the higher priced silver last year and prior, harvested capital losses for the tax returns (trying to sell 10,000 oz of silver at one time can draw a lot of 1099 attention)  
    I accumulated the reportable losses and took the cash, traded into that insane ETF JNUG and made around 500% gain in 5 months. Shades of Bit coin. Silver sale gave me thetax shelter and I rebought ASEs when the price was down then used some of the JNUG profits plus other cash and paid for our new home in cash

    Not a bad day all in all, notwithstanding my DCA was $32   With buy backs etc its now around $21. But so much has happened in the trading of AG and AU that I’ve lost count of the real DCA. The GTSR is very high however and that trade might be good for a decent laundering of AU for AG.  That’s probably a good thing since I can’t kvetch about the prices anymore.

    At this moment in time, paused like some bug caught in amber, I’m waiting for the other shoe to drop.

    Maybe some pops in PMs.  I still have a lot of loss carry forwards.

    Maybe something else.  
    Having listened to every guru past and present and eaten a lot of my own guru BS presented in my articles here and there, I decided to STFU on formal articles and just sit at the side of the road.  Maybe a few sniping shots, bloviating or something else.

    Right now it’s nice to sit back and watch the clusterF*nation stagger by like some demented remnants of the Dingaling Blarney and Bailout Circus left overs.

    Like Canadian Dirtlump said   I got my stack and everything else is bullshit.

     

  9. “It’s incredible what could happen here”…  Yes another terrorist attack in London.  This time some caucasian ran his van into a crowd of muslims outside Finsbury mosque.  It looks like the begining of a reaction against the imposition of islamic culture and all that it implies upon the British by the well meaning idiots of the left.

    This is what the establishment most fear.  The backlash.  It could end up being far worse than it would be in most other European countries because of what is called the “far-right”.  At one time they were recognised as fascists but these days they are not being suckered into euro-fascism the way the left are and are probably best described as ultra-nationalists.  Many of these people are outright thugs but they are not organised these days as evinced by the Finsbury attack.  That however could change and we may see rivers of blood on the streets of the UK.

    My own families experience of Islam in the UK has not been positive.  My sisters partner worked for a muslim run company on contract for two years.  After completing his obligations under the contract, the company simply went bust and he didn’t get paid.  He later found out it had been set up simply to sucker him.  OK he did not do his due dilligence but he was an old Yorkshire sheperd and not used to such cynicism.  Another sister was threatened by muslims in her home town and told to leave – or else –  she did.

    Muslim culture is not British culture.  It is predatory.  In truth I think many do become British, fit in with expectations and value it.  Not least because it allows them to practice their religion.  There are many however who do not and openly admit to an agenda of aiming ultimately to use force to inflict Islam on the country and it’s people and by implication this means they are biding their time.  This culture is antagonistic to what is British so something has got to snap.  If we see an organised bout of ethnic cleansing in one of the Northern towns and a few mosques in flame that could be the begining of the end of Islam in this country.

    • “This culture is antagonistic to what is British so something has got to snap.  If we see an organised bout of ethnic cleansing in one of the Northern towns and a few mosques in flame that could be the beginning of the end of Islam in this country”.

       

      HEH, HEH, HEH,             Well, Well,            Who -du- thunk it 

      Stiff upper lip & all that $#!T. 

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