T. Ferguson: Worst May be Yet to Come, Good Chance Silver Will Be Taken Down to $25, Gold Towards $1500

worst-is-yet-to-comeOur friend Turd Ferguson of TFMetalsReport has released a gold and silver update warning that the worst may be yet to come for the current gold and silver cartel smash.
Ferguson states that the odds are at least 25% that gold and silver will still see a spike-low harvesting stops, with silver plummeting to $25, and gold towards $1500:

I’m beginning to sense that the ultimate goal of this entire event is to harvest the stops below $26. IF this happens…and currently I’d put the odds at about 25%…a quick drop to $25ish would be your final bottom.  Price would quickly recover back above $26 and this deliberate beatdown would be over…And gold could very easily suffer the same fate. If The Cartel can engender enough additional spec selling, a veritable cornucopia of sell stops lay waiting for them sub-1530. And you can just imagine the reaction in the media: “GOLD IN BEAR MARKET!!” will be screamed as loudly as possible in the hopes of inspiring even more selling.  

Is the worst yet to come in the gold an silver correction?

 

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Turd’s warning that gold and silver may still see a spike low to complete the 2 month long correction/ takedown:

Someone, either an HFT or a Cartel monkey, pulled the trigger on a sell order in silver at the very thin trading hour of 4:00 a.m., New York time. Since silver was sitting right on top of the previous week’s lows, the effect was predictable. A host of sell-stops were “harvested” as price quickly fell about 50¢. Note then that price quickly recovered as liquidity returned with the opening of the Comex session.

Why did I start there today, you ask?

  1. Because now $28.40 is a very important level to watch early next week in silver, and,
  2. It is becoming increasingly likely that the same trick is going to get played out on a much larger scale in both gold and silver before a final bottom is put in and price permanently reverses.

So let’s start with silver. Running the stops yesterday has fortunately provided us with a very clear level to watch at $28.40. If silver slips below there again early next week, it would be a near certainty that we are going to take at least one trip down below $28. There has consistently been a lot of support there so taking it much lower is going to be a task for The Bad Guys.

That said, I’m beginning to sense that the ultimate goal of this entire event is to harvest the stops below $26. IF this happens…and currently I’d put the odds at about 25%…a quick drop to $25ish would be your final bottom. Price would quickly recover back above $26 and this deliberate beatdown would be over…

And gold could very easily suffer the same fate. If The Cartel can engender enough additional spec selling, a veritable cornucopia of sell stops lay waiting for them sub-1530. And you can just imagine the reaction in the media: “GOLD IN BEAR MARKET!!” will be screamed as loudly as possible in the hopes of inspiring even more selling.   Like silver, I only give this about 1 chance in 4 of happening but we must be on the lookout and prepare mentally. IF this occurs, you must be strong and BUY, not sell. The spike low will be The Bottom.

Click here for the rest of Turd’s excellent commentary at TFMetalsReport:

 

SD Bullion

Comments

  1. Clive Maund in his latest gold and silver updates stated something similar but he thought because of the very bulliish COT Reports, oversold levels, extreme negative sentiment in gold, silver and the gold miners that this was less likely.
    http://www.clivemaund.com/article.php?art_id=68
    http://www.clivemaund.com/article.php?art_id=67

    • Sinclair would disagree, saying the inexorible march to $3500 begins within the next month.
      Bullion Banks/Govt are managing perception here. If guys like TF get onboard and start echoing their decption, all the better for them.
      Fofoa accurately states that low prices = increased flow to the east, which isnt desired. Sinclair states that the volitility en route to $4500 will be unparalleled.

  2. I have a deep feeling Silver will be taken down dramatically on Mayday (5/1/2013). There is a FOMC meeting on a illuminati holiday this year.

    • Didnt Sinclair say the bottom would be in by March 28?  I hate cystal ball predictions.

    • Sinclair is a master on the Gold market (probably no one is greater) but no one is 100% accurate. He has made some calls in the past that didn’t come as fast as he would have expected but they eventually do come. He has made a call stating once Gold passes a particular price point it would move violently to the upside past $2,000 toward $3500 but instead reversed direction $1550. He has been right over the long term and that is whats important. The short term is just noise. Gold will eventually hit $3500 but its not going there in 2013 or even 2014. But look out for 2015! IMO
      The Gold market is extremely volatile and heavily manipulated. Not even Sinclair who called the Gold top in the early 80s gets everything perfect. He pulled out the day before Gold dropped considerable in the early 80s. My guess is he probably helped knock it down or he knew something was going down from his years in the market.
      Stating the bottom will be in by March 28 is crazy IMO but I will take anything the man says into consideration. That is why we are here reading these forums aren’t we? To take all predictions into consideration? As investors we have to be aware of the battlefield.
      I would imagine Sinclair is probably 80-90% accurate in his predictions privately but when he announces them the new cartel is most likely aware of his predictions and knocks the price of gold down when he said it would rise. The reason: to create negative sediment. Be a contrarian!
      Sinclair is an old schooler. He knows the game. He learned from the best Jessie Livermore and his father Bert Seligman. They were  most likely market manipulator themselves. His family from my understanding founded firms like Goldman and Lehmans. He knows they knock it down and bring it up that is the nature of there business. You have to know when the big guys will move in before they do and you have to know when the big guys move out before they do. This is why pigs get slaughtered in Wall Street, because they don’t get out fast enough.
      So while every guru is stating its going to move up and it should. Be prepared for it to move down. When they say its going down its moving up. Since Sinclair said the bottom is in March 28th the cartel will probably FK with him and move it higher to get suckers into the market only to crash it harder and take profits. My guess: Gold will be above $1650 by the end of March. Then get knocked the F- down by the end of May. Another reason they will have to knock it down before the summer because this is when they start negotiating the new debt ceiling. During the summer Gold will probably move back up toward $1900. If Gold is near $1800 before this happens Gold could pass $2000 during negotiations and begin to cause a panic and gold to spike upwards. In the fall I could see Gold moving past $2,000 if their is another Debt downgrade. Same thing with Silver down as low as $23 then starts pushing towards $50 again. I guess we will see. Seems the cartel likes to play this game like this: Move a price 100% get the rest of the market to move it another 300% pullout/take profits/ knock it down by 50% then repeat. :)
      My guesstimation is Silver moves to $23 (they take profits by shorting) then to $115 (They take profits) then to $57 (they take profits) then back up to $287 (THey take profits). This is without hyperinflation taking place first just inflation. If hyperinflation kicks in Forgetaboutit! The Wall Street Club/sharks who ever they are, they are in for the short term not long term.
      As for May 1st it is more of a hunch than a prediction :)
       

    • The lower silver goes, the better deal we will get at our local coin shops! I just got a 1945 American silver quarter for 5$ when it used to be 6$ for sale! :D

  3. Then what? Maybe is next move to -500$ for silver and -25.000$ for gold. Please be smart and read a little more. Both PM are strongly manipulated every day. Bullion banks and drivers like fuc…ing TRADERS. TRADERS are evils in the story. For traders is mother high volatility in range 1800 – 1400$. Short and short…big profit. Short to 750 $ gold no problem and than what?
    You must be sure that the bull market is going to the end of the cycle. Maybe 2,3 or 4 years. Every bull market finishes with PARABOLIC spike…
     
    SIT TIGHT, HATE traders and B. banks…and take profit from phyzz …when the time comes.
     

    • Yes! Also, Gold and silver will continue to have more demands as everyone starts looking for a safe haven from the depreciating fiat currencies. We need to think about precious metals by the number of ounces we own and not how many dollars we paid for each of them.

  4. Silver is not losing anything. It is going on sale! Many boards and forums I have visited have individuals who wished they had bought in the 90′s when less currency bought more PMs. This isn’t those levels, but still it is cheaper? I love a good gamble and I love silver. I’m all in as far as it gets. Like any other gamble the bigger the risk the bigger the reward. If you watched any of the MSM this Sunday morning, you would have noticed this Kumbaya feelin’ they were trying to shill out. Besides making me want to puke, you can see the media’s confusion starting to slip through! If I’m wrong, then I’m out Fiat, but I still have some pretty paperweights, that may come in handy for the kids, I am betting with everything, I am not wrong though! Tiger
     

  5. Turd has been so wrong, on such a large scale, that he’s going with a different approach.  Now he’s saying that there is a one in four chance that silver is going down to 26/oz and then maybe a little lower.  Later, if that doesn’t happen,  he can come back and say that he felt there was a three out of four chance that it wouldn’t happen.  Brilliant!  Of course, a reply like this wouldn’t be tolerated at his site.      “For the good of the board”, folks with a contrary opinion will be banned. 

    • For that very BS, I never go to that site anymore.  PMs and liberty go together.  PMs and autocratic web site operation do not.

  6. What if April 2011 was that parabolic spike? Every week there is a new story about the new low almost being in. We all need to stop chasing the falling knife. If it was “manipulated” from $50 and back down to $3 in the 80s, I am certain it can happen again. People have been spooked out of the market and the margin hikes have not even come into play yet which could easily shave 10-20% off the price in a day. The interesting factor no one selling Silver posts is that many reports are showing and increasing supply of gold and silver since 2008. If that is true, it will be many years before we reach the $40 mark.

    • Your comment is rubbish.  Inspect the increase in supply and you will see that grade has deteriorated.  It takes more mines to supply the silver at a higher cost due to the lower grade and higher energy input.  That will not change even if the futures price of silver comes down.
      The cost of energy will continue to go up.  It doesn’t take a rocket science to understand that oil will continue to climb. China purchases more cars than America.  Project that demand ten years from now.

    • Silver will reach 40$ very soon if the inflation rate becomes bigger and if the demands are growing faster. The inflation rate will continue to rise dramatically because the central banks are creating billions of dollars out of thin air to stimulate the system of debt and because of that, more people will look forward safe havens like precious metals.

    • I agree, Sumkid, but substitute the term “trillions” for “billions”.  The fiat currency presses are running 24/7.

  7. Maybe. But in parabolic spike is 100% gain in 1 year…Gold in decade is about 35% in year gain..

  8. I love Turd, but saying “it might drop it might not” is mostly worthless, unless he is trying to encourage weak hands.

  9. PM’s are going to go down. More and more people are out of work. More and more people are having hours reduced….and we aren’t even to the “match in a wheat field”  stage of austerity yet. Do people really think SHTF is just a clever marketing ploy?  It’s gonna totally suck….people are already suffering….and we’re aren’t even started.
     
    Lot of people will have to sell what they have just as lots of retirees are needing to take larger amounts out of their IRA’s and 401k’s.  Expect lots of supply to enter the market. It is 100% foreseeable. The cause and effect of all that’s going on will make for a great buying opportunity in the next several months and probably though the summer maybe even all year. Dry powder  will sit on the sideline waiting to buy cheep from distressed sellers. 
    Sadly those waiting for Jim Sinclair’s Birthday are going to be very disappointed when that call doesn’t happen. The mocking, whining  and bitterness four weeks from now will likely be deafening….and the swoon that follows through the spring will certainly take out holders of PM’s that invested—but not those that are using metals as wealth preservation.

    • @ 4 унции 
      Do you believe that most people have investment gold, for to sell their gold savings?
      Or do you think that 1% of investment in gold some of people can seriously impact on the global gold market?

      Why do not you do right now a short sale gold, with leverage 1 to 100? LOL

    • I shorted GLD @ 165 and SLV @ 32 early this year and have made more in 2 months shorting than 2 years holding “Phys”.  It can be a dangerous game but the profits will easily cover any loss I make going back to physical and seeing I sold most phys near 35 going back in closer to 20, I can easily quadruple my stack.  If I just held I would feel like most of the guys on the forum watching their stacks dwindle in value.  The End will come but consider all the drama from the daily web articles, it wont be nearly as bad as everyone expects.  Fear of the unknown always causes humans to expect the worse, but the big boys want to conversion to a new system to be as smooth as possible.  Believe as you like, but do some reasearch outside of the silver community to look at some other perspectives. Shorts have been increasing 20-25% per month, that says a lot about the future of PMs.

    • @jiggysmb We shouldn’t think about precious metals like stocks because the main purpose of buying physical gold and silver is to protect against the depreciating fiat currencies. If you’re buying precious metals to make profits in terms of dollars, then buy stocks instead.

  10. I lost my job and what did I do? Bought silver with my severance package. Beats 2% of interest and promise I can get it back after a fixed amount of time.

  11. I repead…problem are traders. They wish a lower prices..low is more easy than parabolic spike. I belive that gold must go in strong bubble…strong bubble.

  12. Turd makes a good point.  I said the same thing right on this site a week or so ago.  It would be very good if silver spiked lower, harvesting all the weak hands and allowing the banks and hedge funds to cover their shorts.  I believe this is the plan all along and it can happen very fast.  I believe that Sinclair believes this will happen as well.  I don’t know what you folks believe that Sinclair said.  He only said that the bottom would be in sometime in March.  He isn’t predicting some kind of parabolic move.  If this spike low comes in I for one will be very happy.  Not that I am going to be buying more silver.  It will mean that the banks will cover their shorts and have the opportunity to go long.  They can then change their strategy and make money on the long side of the trade.  Been waiting for this for 22 months.  This should give us the opportunity for silver to be allowed to move higher.  Real moves higher in the near future.  Not this sideways trading crap.  I know, the banks have been making a killing and they will continue to do so.  Us little guys have to watch while they feed at the trough.  Thats OK.  I believe that Sinclair is right.  This is going to be Sinclairs bottom.  Just be patient.

  13. I understand perserving wealth, but holding PMs when they dropped from $48 to the low 20s is more stupidity than presevation of anything other than ego.  Some people’s tune will never change, like Sinclair admitting the Bull market is over.  There are many other option to preserve wealth, PMs at this point in the game are the more risky gamble.

    • Your comment shows you have a complete lack of understanding of the reasons people prefer to hold physical Gold and Silver over making temporary ‘profits’ in paper fiat currencies.  Study the history of money, and the outcomes of currency devaluations and debasements by national governments, and you will understand that people holding Silver from $48/oz to the present $28/oz have nothing to worry about in the historical context.  They are the true ‘contrarians’ who will benefit, while those who trade precious metals for fiat paper currency profits are just following the majority crowd (ie, the so-called ‘professionals’).  It is a safe bet that the Dollar amount of money trading precious metals on any given day is multiple times higher than the amount of money that is actually purchasing physical Gold and Silver for long-term savings.

    • I feel the stupidity of what the writer is talking about cause I am holding some of that high priced silver.  I bought poorly but there was no way at the time that I could have known since I was a first time buyer.  In retrospect, buying at the spike lows in the 26 range was the only way to avoid being underwater on the investment for the last 20 months.  I am confident that we will get a return back to higher price levels.  I had to learn the hard way about silver which is definitely the devils metal.  Because of my experience with silver I would not advise anyone to buy silver.  Everyone needs to make their own decision in this regard.  I think I will be vindicated later for my poor decision making.  And, hopefully I will learn my lesson.  I intend to sell silver when the price reaches 49 and diversify into gold.  This crazy volatility isn’t good for my sanity.  I have to continue to wait for an undetermined amount of time to make my portfolio adjustment but that is just the way it is.  I think things will work out fine in the long run.  JiggySMB, you should stick with cash.  You haven’t caught the fever.

    • @jiggysmb

      Fiat Paper Currency vs. Hard Money…

      As someone said: “Silver and gold have never been used for doorstops but plenty of fiats over history have been used as firewood”
       
      I think for most people that are buying on the dips as discount silver and just hoarding it away for a day that we all KNOW will come because the numbers are completely unsustainable are being prudent. I could care less If I buy at 32 then it drops to 29… I am just going to buy more. My silver and Gold stack IS my savings account and I treat it as such. Playing the paper game is dangerous, banks are insolvent, safety deposit boxes are wrongly named and aren’t safe, making negative rates on bonds, CD’s and savings accounts all the while somehow getting fleeced in the stock market while it is at it’s all time highs?
       
      GIVE ME A BREAK! LOL Keep stacking!!

    • You see, there is also the supply and demand. Maybe the reason why silver went to 50$ per ounce on 2011 that dramatically is because too many people bought some silver very fast or due to a shortage. In the long term, precious metals preserve your purchasing power. For example in 1964, I could buy a gallon of gas for a quarter and today with the same quarter, I could still buy a gallon of gas due to the quarter’s silver content.

    • @Orion
      Fiat Paper Currency vs. Hard Money…
      As someone said: “Silver and gold have never been used for doorstops but plenty of fiats over history have been used as firewood”
      Actually, gold has been used as a doorstop!  When the ’80′ gold price came to a peak, there was a guy that recycled precious metals from electronic circuit boards where I was in Silicon Valley.  He had this shop that looked like a dirty old machine shop with rusty, corroded scrap metal all over the place… He molded his recycled gold blocks and painted them to look like the dirty old pieces of scrap metal all over the shop… One day I go to use his bathroom.  There was a chunk of metal he was using as a doorstop to the bathroom.  I went to kick it out of the way so I could close the door and damned near broke my foot.  It was an 600oz chunk of gold!  He said no one would think to steal a grungy old chunk of scrap metal in front of the bathroom door!

    • @Sovereign Economist
       
      LOL I love that story. In plain sight is usually the best hiding place. Hold on let me find this link from lewrockwell about hiding spots for guns or PM’s….
       
      http://lewrockwell.com/spl4/hiding-places.html

    • Stacking is stacking, but on the way down in not productive.  Sure, one day it will go up.  If you believe the end of the world or monetary system is near then sure just buy buy buy.  I, however, have watched the show go on for the past 15 years, since the euro started to be pushed at other countries.  Americans have only recently started waking up to what was going on.  Some were keen to what was going on in the 90s.  Think out to 2033 and imagine yourself still checking for the hopefull supply/demand waterfall/spike articles.  When paper is gone, it is gone.  Surely 99% of the supply will disappear but have you thought about 99% of the demand disappearing as well, paper player are just that, paper players.  Supply is supply and has been increasing since 2008.  Sure ore grades have gone down, but more is processed and more quickly.  I recently posted the mine in mexico that claims it will be profitable at $10/oz.  Regurgitate anything that makes the group feel hopeful about purchases over the past 2 years and gets you through the next few years as we work back to that point.

  14. Adverse Opinions.
    The Stock and Bond Markets are on the way to a catastrophical collapse. Gold and Silver will obviously go down with it, but not with a mighty blow. All relevant commodities to human survival will simply skyrocket.
     http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/3_Watch_Gold_%26_Silver_As_Central_Planners_Face_Herculean_Task.html
     
     

    • Ranger that’s a good KWN post.  That Kondratieff collapse we avoided in the 1970′s was stopped by Volker raising interest rates to 15-20%.  That was with $900 billion in Fed debt. Reagan dropped tax rates, particularly capital gains, and the economic surge was one of the best in history. Our position today with $17 trillion in debt and the idiots in DC raising taxes, will absolutely not thwart a really bad and negative event like the one we dodged in the 1970s.  Then we have 10% inflation and 10% unemployment.  We got those in spades.  The 10% interest rates are the only thing keeping this entire house of paper upright.

    • @Ranger Yep! My thoughts exactly.
      @AGXIIK exactly!
      When this mega beast unfolds people aren’t going to simply lose their jobs and money. They are going to lose their lives! Was watching on Netflix “American Experience: The Crash of 1929″ and everyone before 1929 seemed to be living as if the roaring 20′s would last forever. Boy were they wrong. I believe our society is in for a rude awakening. With Natural resources dwindling the only people that will be enjoying our current American lifestyle will be the rich. And the only rich people will be the ones who bought Gold and Silver before the next great crash!
      Oil is going to get really expensive. Forget about $150 oil lets start thinking about $500-$1000 a barrel within ten years. No/expensive oil means no/expensive products made from oil like: Rubber, plastics, paints, medication, gasoline etc. Normal people in my opinion will not easily get products made out of these materials.  From what I read a car tire needs 6 gallons of oil to be made. Who is going to be driving cars when the tires probably will cost more than the car lol. Same with Gas. Same with plastics. Shit is going to get crazy, but for now enjoy every moment before the big one comes.

  15. Pollokeeper..please don”t be naive. End of gold bull market is when is the parabolic target in the sky. Gold and silver “must” go parabolic. Is just a question of time…maybe in 1 year maybe in 5 years. But I am sure that we will be very happy in the near term. Just be patient and smart. We need a war, inflation, manipulation and FEAR…than IS PARABOLIC SPIKE IN YOUR HANDS.

    • I don’t think I am naive.  The banks and hedge funds are running things.  They have been given exclusive rights to make money by controlling the market.  They aren’t going to lose any money.  And, they are no friend of the Fed.  They will cover their shorts one way or the other and then go long.  We have to go along to get along and we will get thrown a few crumbs.

  16. I’m with Bruinjoe on this one.  If silver goes to $25, and there is a potential for this happening, the silver miners, for the most part, will be mining at a loss in face of steeply rising costs.  Steve DeAngelo’s made this clear numerous times.
    Low prices may mean many things to many people but to the mining industries, it’s a potential disaster.  No miner wants to pay more to mine than he receives for his products.  That will put mines into shutdown mode. Either than or continue mining and face bankruptcy.  Silver spinoff from base metals won’t help in the shortages that’ll occur with a low price either.  Silver byproducts will shrink as base metal miners will suffer the same problem, a price to low to make a profit. The economics of mining losses can’t be papered over with paper trading as far as I  can tell.  Let the price drop and there will be some serious repercussions in this industry.

    • Thats exactly correct. Massive shortages will come in at $25. I’ll disagree with Turd on this one.

    • Exactly, paper may fall to $25 but you won’t be buying much physical at that price.

    • We saw this very thing back in 2008 when paper silver dropped to under $10 an oz. but nobody with phyzz would sell any at that price.  It was not until prices recovered to the $15-16 / oz. area that phyzz was once again bought and sold.
       
      As for me, if silver does drop into the $25s, that will be a wonderful time to add a couple of monster boxes.  :-D

  17. There are a couple of things that tend to support Sinclair’s assertions.  XCS, you noted Sinclair exiting gold the day before it started to crash. Connect that ‘perfect’ timing, and the other note about Sinclair, that he worked with  Fed chairman Volker to help unbundle the Hunt Brother silver story with about $1 billion in funding to accomplish this, and you have someone who probably knew that the market for silver and gold was going to be taken down.
    The COMEX was key to destroying the Hunt Brothers but Sinclair’s knowledge of how to manage the dissolution was critical as well.  If Sinclair profited from inside knowledge, so be it.  He most certainly knows the game.
    As for the rise in precious metals prices during the big run up, Sinclair most likely played that well too. With his knowledge, backed by his dad and others, he must have known where the price could potentially go and when to enter and exit.  In early 1979 silver was $6 an ounce and within on year it hit $50. But it took only 37 days to go to $50 from $16. That is 200% rise in barely a month.  Gold is about $1,600,  with Sinclair’s new price target of $4,990.  There is that 200% increase.  If Sinclair says this will happen and bases this both on his knowledge of the prior price spike plus how the manipulations and government actions and interventions are affecting these price directions, I would not argue with him. 
    My ears will be tuned very closely to Sinclair when he says the price will go back down by a few thousand dollars an ounce. If he can or is willing to warn us of that event, I’d be listening and making moves out precious metals at light speed. 
    All in all, we PM stalwarts are into this market way in advance of the inevitable price increases.  Being a day early in exiting, like Sinclair did in 1980, is even smarter.  This is not to say that gold will go up 200% in the next 37 days either.  The power of the price supressions and actions of market buyers is a bit different that in 1980  China is the wild card IMO.

    • Actually, Sinclair liquidated his positions immediately AFTER the daily peak.   He made this quite clear in his KWN interview Friday.   He knew it was over.   $35 to 887.50 (intraday peak.)  BTW, he told people not to come back to gold for about 20 years (that part was not in interview, but I read it in a article about JS.)

  18. @Conax, Seven bidders for these three Maples.
    Winning price:  $102.50
    = $34.17/ea, which is $5.66 over Spot ($28.51 at 11:22. a.m. EST)
     
    Assuming the buyer also pays for shipping, this is not a very smart purchase.

  19. Mammoth.  I saw older Maples going for upwards of $50 per coin a couple of weeks ago.  These were 1990′s   My plan is to sell some 1989 high quality Maples for $50 at the gun show.  With ammo prices up 200-300%, this might work.  If nothing else, the feeding frenzy for metals might rotate over to my silver seller stall.

    • @AGXIIK, this morning I posted a comment on another thread about turning down a spot offer for Silver Dollars.  The buyer wanted those coins badly enough that he agreed to pay $7/ea. over Spot.

    • Lucky you for having the access to buy guns and ammunition that easily! The Canadian law only allows you to buy certain guns which are shotguns, sniper rifles and handguns but most of them sucks! I was hoping to buy a magnum, a desert eagle, a revolver, an AK-47, a M16, an AA-12 and a Spas-12 when I grow up but, they are all banned! I guess my chance is with black markets.

    • Keep an eye out for small pistol primers, I need 3,000… will trade ASE’s

  20. I’ll gladly invest in physical PMs before the petro-dollar crashes. And, don’t be astonished by the manipulation of PMs. Metaphorically, we’re playing poker with the Fed, and they’re just printing up all the face cards they need–while pretending they’re playing by house rules. The way to win is to get up from the table and buy PMs. 

    When the petro-dollar crashes, and inflation hits, people are going to want to invest their paycheck in something that maintains a modicum value. After that, all this talk about the $26-34.x range will sound like pure nonsense. Don’t be one of those people who waited for $26/ounce and it never got there. If you don’t have any PMs–get some today. Wealth preservation and profiting are two very different things. I’m into wealth preservation–hats of to you if you’re successful in making a nice profit for yourself in the short term.
    p.s.
    Mike Maloney’s first gold purchase made him sick to his stomach-after he bought the price took a dive. But long term, he’s been quite successful and hasn’t looked back.

    • Exactly! Precious metals are for people who wants to preserve wealth against the devaluation of the fiat currencies and stocks are for people who wants to make profits in terms of dollars. The word “investing” shouldn’t be used for precious metals.

    • Precious metals “investing” means that you are buying and selling on a routine basis and raking off the spread between those trades.  This is good, IF you can do it.  Most people can’t because it is difficult and requires extraordinary timing.
       
      For me, buying PMs is not investing.  It is merely the conversion of fiat currency into REAL money that does not melt away because it has inflation built right into it.  It is a long term savings plan.  When I want to MAKE money, I can usually do so in the the stock market. Buying PMs is how I KEEP that money.

  21. Here in Vancouver Canada I don’t think the Physical price will not go down as far as 2 to 3 dollars above spot according to my local retailer of Maple leafs. I noted that even with the spot price hitting $28.50 the buying price of Maple leafs is still $30.50 CAD. But I’m ready for this. $25… Bring it on.

  22. This guy has been nothing but wrong…. From the time silver went parabolic Turd was telling people after the blow off top that buying edr and all other silver miners would make them happy 6 months later. He got lucky calling the bottom at 1500 last time and ended up being some sort of gold guru… the fact he is calling for this breakdown, is bullish IMO. 

  23. Mammoth   One thing I know is that you have a handle on pricing of Morgans and like coins.  In reality, a nice Morgan is $22 spot price so that $7 over is a large premium, 30% or so. I’ve seen more at our LCS. Something else I can say is that selling Morgans on a single basis might help someone full a spot in their ocin books. My coins are pretty clean and the LCS is $8 over spot min or $30. I plan to check the price points for their Kennedy halves, older Maples and ASE  But the Day or Resistance rounds are $50   Those are emblematic for the people at the gun show.  One per customer.  It’ll be fun to see how this works out. If the spot price mid April is still high 20 or low 30 I’ll replace the FIAT with more silver. 
    ILUVPMS   Good to hear from you again. How have you been?

  24. Busy, finishing off my CPA (CA) courses and getting ready to intern. Asides from that, this market has been fuck-n horrible ( miners to say the least). Anyways, not much to say anymore, just waiting for a move. could be this year or next. Armstrong the shill seems to suggest a move for gold to new highs in 2015. I dont believe a word this ass says as his tune has changed drastically since he came out of the slammer. Once a con always a con in my book.s. 
     
     Silver, if we break 25 we are going to 19 as there is no support below this. The miners have been mercilessly crushed. Endeavour, down 30% recently for no reason. Here is a company with great growth and production and cash and it gets clobbered. WTF? anyways if it goes to 4 im buying another 10K shares. 

  25. I don’t think that silver will ever reach 25$ per ounce again. Because now, it cost about 30$ to mine an ounce of silver because the price of gasoline is going up due to the dollar’s devaluation.

  26. Newbie, first post.
    To those who are recently new to stacking, and feel nervous about these smackdowns I have this to share with you all:
    If the government is creating currency from think air (which they are!), then you should THINK FOR YOURSELF. I remember in Zimbabwe inflation started off very gently in the early 2000s when they started ‘printing’ easing or whatever they called it at the time. Most of the people who got wiped out in 2008/9 where the ones that continued to live in denial and think that somehow things would go back to ‘normal’. Even at the very end, it was sad how most people lived in ‘hope’ even though they could see that they were spending an entire months pay just to get to work for a few days.
    Face the cold hard facts, USA as an economy is broke and the only way out or forward is to print, print, print. If you are fortunate enough to be on this website you have a chance to ‘waking up’ and protect your purchasing power. 
    @Pollokeeper Dont worry or feel stupid, remember this is a long range game. The fed cannot take its foot off the peddle, in years to come only then can you judge yourself. After all, when the time comes you will pat yourself on the back for taking a proactive step to protect your savings
    Trust me, I’m from Zimbabwe.

  27. Gold perma-bulls predicting prices to move lower
    Managed money heavy on short side
    Sentiment level: below capitulation
     
    Contrarian indicators could not be better. Hope everyone on the short side get deservedly mangled. Personally I like people like Gene Arensberg a lot more than the Turds of the sector.

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