Your Regularly Scheduled COMEX Open Silver Smash Sends Silver Towards $28 Handle

Must…Keep…Silver…Under…$30.

Daily COMEX open silver raid in progress.

*Update: 2nd wave in progress, cartel gunning for $28 handle!


Crucial battle being fought over $30 in silver.  Look for extreme volatility to continue through the March options expiration next Monday 2/25:

silver
*Update: 2nd wave in progress, cartel gunning for $28 handle!

silver


The cartel has thus far been unsuccessful stuffing gold back under $1600 however:

gold
2nd wave of gold attack also in progress:

gold

While many are proclaiming the bottoms are in for the current gold and silver correction, you must be prepared for the possibility of the cartel continuing to hammer the metals culminating with Monday’s March options expiration in both gold and silver.  The cartel would like nothing more than to keep gold under $1600 and silver under $30 through Monday.

 

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Comments

  1. More please, I’m ready to buy.

  2. I think that we lost the game. Banksters and computers against “ordinary” people.

    • No we did not! We are still close to the four year trend line on silver’s chart even if the price is below that line. I expect silver to be at least on the line next week which means the price of silver will be at around 29.50$ per ounce. Because that line represents how much it costs the miners to produce an ounce of silver.

  3. First they smash it, and then they will come to confiscate it.
    This is what they can expect when they try to confiscate the citizen’s PM’s:
     

  4. Mammoth@ Is that the FINDUS CEO by any chance?

    Edit – Where did your image go? Censored?

  5. Cancel my Edit….my ONSPEED accelerator sometimes cancels out images for some reason.

  6. The thing speaks for itself:
     
    http://www.denaliguidesummit.blogspot.ca/

  7. I did some techinical and fundamental analysis and based on my findings, I see a couple of reverse doo doo doji candles, and a clear ascending egg fart minotaur flag formation getting ready to close in on a double head and shoulder top drinking from a cup and handle.
    Couple that with a fibonacci retracement into the unicorn zone and you have the temperature for an imminent explosion.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    unless of course the cartel still throws the book at it until the market breaks LMAO!

  8. If you refer to this link http://www.sge.sh/publish/sgeen/ Shanghai Gold Exchange, the price of gold gold is USD16 higher than the price at Comex. 
    You buy any ouces of Gold at Comex and sell it at SGE and you already made a instant profit. 

    • Those with millions and even billions to invest are specifically looking for such arbitrage situations.  Their actions sand down the market bumps like this one.
       

  9. there we go, it just really fell off a cliff. Thanks to all the prognosticators talking about the price tripling in the next 3 months.. I needed that good news as I watch my “preservation of wealth” get pounded into dust.

  10. Wave 2 has started… woo hoo!

  11. Whooeeee! They just don’t care anymore about even trying to hide it do they. Did the Bernank just speak? Na, just smash the fiat price for the hell of it and middle finger to all long traders. [I'm a stacker by the way, not a paper trader.]

  12. now we can all talk about how we can stack the sdip and save a whole 10-20 dollars when in actuality, the last almost 2 years has been an escalating dip with little sign of relief.
     
    we need some positive price propaganda stat.

    • OK, how’s this?  Regardless of fiat prices our only question is, “Do we want REAL money or not?”.  If we do, we can buy what PMs we can afford and otherwise ignore the bouncing ball of fiat prices.  Combine that with the fact that NOBODY can pick an exact market top or bottom on anything approaching a routine basis.  Yeah, some call it once in a while but so what?  Hell, even a broken clock is right twice a day!  Not much of a record compared to the other 1438 minutes of the day.
       

    • That is true but for the last 42 years, gold and silver are continuing to go up because of inflation that is destroying the fiat currencies’ values. The prices in terms of dollars are going down but not our purchasing power. Because for example in 1964, I can buy a gallon of gas for 25 cents which means with a silver quarter. Today, I can still buy the same with the same quarter because it was backed by silver. By the way, I choose “the last 42 years” because that was the year when the gold standard was removed in 1971.

  13. With currency wars gearing up I think you have to ignore the price and instead watch the cartels short positions. 
     
     

    • Even if the currency wars are about to happen, we are now seeing gold and silver’s prices going down. Perhaps maybe the cartel is lowering the precious metals prices so that people could find a safe haven a lot more easily from the wars? Who knows?

  14. Like I have previously stated a few days ago. I have waited to purchase metals, because of fear of this was coming. We always hear oh this is the year for metals and I have been in this market for over 10 years. Once we hear this we get pummeled. I am happy, I have made the right decision to wait. Once it bottoms, I will then again purchase more. Go ahead and throw that paper at the metals. 
    What happened to Bill Murphy’s prediction that jp morgan was done? Anyone have any answers? Remember some of these individuals who keep asking you to purchase metals have stakes in these or their own companies.. Keep stacking the smack and yet also purchase wisely!  
    Another thing and this is just common sense! With all these companies (retail) loosing their company faithful and are closing all these businesses country and world wide. Goes to show you that the Stock Market is artificially inflated. I am watching Carol Costello now on CNN and she was stated how is the market doing this? You know exactly how the market is doing this it’s all bullshit!
    Now most of the ill informed will got to their 401k and play the market and then again a repeat of 2008 and steal the peoples retirement! God has led me this far and will lead me the rest of the way! The groups up there is Washington don’t give a damn about you or anyone else. Just that simple. Enjoy your Tuesday!! 

    • They’ve run out of road.  This options expiration may be where they change the rules.  I haven’t changed my plans in the slightest… keep stacking!

    • I don’t have any dry powder left that I can afford to tie up for the next 2 to 3 years so I have to just observe.  I do have a friend that tells me what his plans are.  He has been doing this for a long time like NetRanger808 has.  He is waiting for silver to go down to 26 bucks and then he will buy 5 or 6 monster boxes.  He has the patience of Job.  He doesn’t really care what metals do right now, but he will react when the price is right.  Had I listened to him more I wouldn’t be so underwater on my silver.  Patience is our friend right now.  I wish I had this wisdom when I entered the market.

    • NR808:  Please tell us you were hog-tied and FORCED to watch CNBC. 

    • @ Silverrrrr I was viewing Jim Rodgers video on CNBC on youtube and again this morning before going out. Everyone knows the market is rigged. I want to see some moves upwards.

    • “I wish I had this wisdom when I entered the market.”
       
      Wisdom is a lot like experience… we get them from surviving doing the wrong thing!  We EARN whatever we have of both of these things and most of us have the scars to prove it.
       

    • I mostly buy junk silver because they are the cheapest and their prices don’t change a lot at my local coin shop. That way, I don’t spend too much at one transaction in case if silver goes lower.

  15. This amateurs theory.  The hedge funds and centrals banks don’t intend to lose money on all those older short positions so they are determined to get the price down low enough to cover them.  Are they using new shorts to drive the price down?  I don’t know.  But, they can force the price down as low as they need to.  Cover the older shorts.  Then take fresh long positions to ride the price back up.  Now, I feel that the treasury dept would prefer that the price of silver just stay in the low 30′s and just demoralize the market, driving away any speculative interest.  The banks and hedge funds are in this to make money, not lose money on all their old short positions.  I hope they can get them covered so they will make the decision to finally go long.  This is a great time for them because most investors are euphoric about the stock market right now.  Not much interest in going long on metals.  The banks don’t plan to lose a dime and when the time is right they will go long and make another ton of money.  All we can do is watch. 

    • I like that amateur theory @Pollokeeper makes sense to me, so I’ll wait and see if they get rid of anymore shorts this week which I expect will happen. Right now it’s one hell off a ride.

    • If my amateurish theory is right I can’t take credit for anything.  I am pretty much going along with Jim Sinclair, who says this will be the last major raid before we start our upturn.  If the crooks can’t cover their old shorts they are not going to go long.  Thats the bottom line. 

    • If banks could REALLY plan well, we would not have had the spectacular banking f***-up that occurred in 2008.  Their record is not good but somehow, they always manage to drag Uncle Sugar into the fray rather than them just getting to eat the s*** they’ve created for the rest of us.

  16.  ->stack->dig->bury->forget.
    Spotprice doesnt matter until time is up for the cartel.
     

  17. Another Mark Dice classic just uploaded.
     
    http://www.youtube.com/watch?feature=player_embedded&v=Jr7McLhZmyE

  18. When this beast explodes upward, out of its suppression, it will be … no words to describe how wonderful/fast/amazing it will be. But yeah, this “when”question, of course.

  19. AS long as you can as much silver you want at the published spot comex price, I don’t see the problem.  I started at 16 due to funds availablity and could kick myself for all the Morgans my grandad gave me that I pissed away as a kid.  Won’t happen again.  Even if I don’t ever sell, my kids will get these.
    “THEY” can kick our asses with all the paper they want, but they CANNOT make solar panels, batteries or jewelry from it. Imagine giving your wife a paper necklace?
    Give it the due time required. JMHO.

    • still holding morgans my granparents gave me and will pass the collection to my daughter, and by the way thanks for the gift crimex! another 100 oz silver on the way!

    • A paper necklace? Maybe one made with dollar rolls…

    • “I started at 16 due to funds availablity and could kick myself for all the Morgans my grandad gave me that I pissed away as a kid.  Won’t happen again.  Even if I don’t ever sell, my kids will get these.”
       
      Right.  Hopefully, you have trained them not to piss this legacy away when it comes to them.  I am looking at this as well, since I do want my stack to become a family legacy that will be around for many years to come, even if I am not.  Kids and grand kids need to understand that this is insurance against some VERY bad things that they have never seen and that if they do see them they will do OK if they have REAL money but not if they don’t.

    • So, you got rid of them by selling them, using them at face values or even worst, throwing them way? I started to stack precious metals when I was 14 years old and before that, I even stacked copper pennies without knowing their true values. I mean I though these older pennies would’ve gain values for collectors but in the end, I realized they were only worth their melt value. It’s the same thing with the nickels.

  20. Hope THE DOC can pull some Magic Guru BS out of the guru’s who post here, I am really tiring of the B S.!
    Remember the CME Idiot that said, “Silver will not go below $30? Why continue stacking when thereis no definite low.
    Silver will most likely go down to $20 and there is no truths spoken here.

    • I’m waiting for the old stand by bullshit lie that the paper and physical prices have disconnected – meanwhile I’m looking at a new sunshine 1oz round available for 31.57 this second. Maples for 32.83.
       
      I get that midnight is where the day begins, but I’m sick of the bullshit too.

    • I dont know about 20 when it practically cost 30 to bring to market. Paper manipulation is what it is…your stack only hurts you if you sell it. It wont rust if you keep it under your bed. It makes for a nice comfortable feeling.

  21. Dear friends,
    they don,t stop. Power of banksters, computers, goverments…..
    For higer prices we need a war between Izrael and Iran or “fiat” collapse

  22. I went all-in this weekend. My dealer is now OUT of the simple Perth mint stuff I like. So do I hate to see 0.7% lower prices?
    I hope everyone buys now, and we sweep the market clean of affordable silver. If the overprices dealers (you know who you are, it’s a freakin’ commodity for crying out loud) start getting sold out (effectivel, their wholesaler), it’s going to get interesting. Bye bye high prices, hello huge premiums. 

    • It’s the same thing with my dealer. He doesn’t have anymore one ounce pure silver pieces and He sold his big silver bars very fast! Because of that, I only had to buy junk silver from him which is better than nothing!

  23. @Canadian Dirtlump, that ‘imminent explosion’ occured last week over Chelabinsk, Russia.  The fragments from the meteor are now selling – on a weight basis – for a higher price than Gold.
     
    On a more serious note, this ongoing price smash brings to mind the warnings which came out earlier this year, which basically predicted this would happen a month or so into 2013.

  24. This is the meanest baddest bull to be riding but I have held on for 14 years and now is not the time to let go and be thrown off. The ground is harder than the back of this bucking Bull so hang on cowboys, the prize will be worth it in the end.
    Would you rather have stacks and stacks of wood pulp and green ink splashed onto the surface of it than that weighty & shiney metal in your hands?
    Trees are inexpensive, easy to find, cut down and grind into pulp & paper to make federal reserve notes and to make green ink is also cheap. To type in digits on a keyboard or to send digits electronically costs next to nothing.
    To hold a 1 oz. coin in your hand, be it gold, platinum, silver, copper or even tin can only be realized after much capital and labor has been invested.
    You must prospect, purchase or lease the land, raise money, bring in the equipment and work force, dig, tunnel and blast, load & transport the materials to be crushed & separated, sent to the refiner, tested for purity, poured into molds, transported to the mints, re-melted and processed into bars and coins, transported once again to the outlets and then retailed to the buyers. Should I also mention the cost of taxes, fees, permits and regulations?
    No wonder the bankers want to stick with using trees, shrubs, ink, keyboard entries & plastic when it comes to creating funny money, (not wealth).
    Don’t give these criminals your wealth in exchange for their sinister products.
    I write this while sharing the same pain that the rest of you are feeling and I have had this gut wrenching feeling many times before this, but I know that what I have in metals will never go to Zero. 
    Throw their paper promises and your metals into a bon fire and when the fire goes out and the smoke clears, you will be able to retrieve your wealth and have lost nothing, and they can sweep up their ashes which will reflect the true value of their products.
    Their money does grow on trees while ours is in the heart of the earth and must be fought for. Hold On!

    • I don’t think we need to worry too much about stackers on this site selling into weakness.  Jim Sinclair has the same message.  He is talking to mining share holders and the spec longs and other’s who have big money tied up in the market.  We need those folks to hang on.  I hope and pray that none of us stackers are forced to sell into weakness.  But, in the scheme of things our actions do not make any difference to the current price discovery.  I plan to hang on for the next several years.  

    • “Should I also mention the cost of taxes, fees, permits and regulations?”
       
      Yes, as well as the costs of mine remediation and waste treatment / water pollution prevention.  While we are at it, there is also the potential cost associated with mines being nationalized (read stolen from those who developed them for the benefit of those who did not… because they can!).
       

    • Well said! Even if gold and silver’s prices in terms of dollars go down, at least our purchasing power is still there! Because for example in 1964, I can buy a gallon of gas for 25 cents which means with a silver quarter. Today, I can still buy the same with the same quarter because it was backed by silver. Beside that, the prices will still continue go up higher due to the fiat currencies losing values.

  25. Those DMAs can be a @itch!

  26. mayeeden…I agree with you. My portfolio is 10- 13 % in pm…gold and silver. I am sure that 48 $ in slwer was a strong manipulation.
    I buy physical at 33 – 34$..lost is about 10% in 4 months. I am not an expert but I think they will smashed to the end….

    • Don’t threat physical gold and silver like stocks! It doesn’t matter if we all lost dollars by buying precious metals. Because these metals actually preserve your purchasing power while the fiat currencies are losing values due to infinite stimulus.

  27. What can one say? As long as most of the people are asleep and apathetic about being robbed and their lives slowly destroyed the crimminals will get away with their crimes! I’ts sad that most people even smart ones do nothing in their own defence.

    • Agreed.  This is usually referred to as the “boiling frog situation”, where raising the temp gradually first lulls them into a stupor and then boils the frogs, while sudden heat causes them to jump out of the pot.  
       
      Way too many people are living for today only.  As long as they do not perceive being $crewed TODAY, they think that they are OK.  In the long term, they are not OK but they do not realize it, so do nothing about it.  It is unfortunate but also looks a lot like financial Darwinism.
       

  28. Friday’s COT report should be telling; depending on how the commercials position themselves, it will give us an idea if the bottom is in place or if they plan on keeping prices low until options expiration next week.  If they are done with the price takedown, look for a price reversal after the close today since the COT report cut off date is today.  Anybody know how many Silver Feb $30 call options are open vs. other strikes?  I’m thinking in terms of the “MAX PAIN” theory.

  29. Don’t panic fellow stackers…The Government has a plan…..
     
    http://www.ntrc.info/doorbell.html

  30. Well I believe its going back under $25. I said this back in October 2012. My feeling is either they will knock it down to cover their shorts or the stock or bond market begins to get knocked down in 2013 and large Hedge companies sell their Gold and Silver ETFs to help soften the blow. After the dust has settled Gold and Silver will jump past $50/$2000 within 3 months of implosion then six months after hitting those price targets silver passes $100 and gold $3500.  For more info checkout my thread: “Debt ceiling crisis before Xmas”
    If not then silver will trade within $30-40 until the world explodes economically and overnight we have something ridiculus like $1000 Silver. I know sounds crazy.
    Either way I am here for the long run. I am not interested in making a quick profit overnight but instead for wealth preservation. I believe if you want to make quick $$$ you should look into business/ product creation not gold and silver. With your business profits you should invest in Gold and Silver.

    • “I know sounds crazy.”
       
      Not to those with a long-term view.  Any number of us remember when gold was $35 an oz. and if someone would have said then that gold would be more than even $1000 an oz., they would have been laughed out of town!  Times change… and so do those who wish to prosper.

  31. Please please Jamie,Blythe and fellow reprobates please smash the price down more.The banksters in my country  have been gracious enough to offer me  the opportunity to borrow money on my cc for one year at .99% for six months.It just doesnt get any better than this.Borrowing 20 for six months at .99%.Zowie!!! The game plan being in six months silvers gone up I pay of the loan balance with the existing physical I bought and pocket the difference ..maybe 20ozs.
    Considering the lengthy consolidation and better fundamentals I think the odds of coming out on top are pretty good .There are no guarantees but hey the downside risk is marginal.
    So to rehash::
    Please Banksters grant me this last wish  and pound the price a bit lower lets say so I can buy a about 500 hundred/Maples/Eagles for $30 after premiums. I would be forever grateful.This would in no small way make in a big way  for the anxiety they caused  for me in  May/September of 2011 when these C*****s  pounded the price big time and left me with a huge paper loss.Even though it was only a paper loss(I never once contemplated selling my physical)
    I sense one last horrific smash on the paper price before the summer.After that Im with Jimmie Sinclair who argues these moral degenerates finally take the long side and ride the wave up for the foreseeable future.
    Gold and Silver Bubble …Yeah right and Al Qaeda are our biggest threat.
    Stack Stack Stack
    The inflection point is closer than we think
     

    • Gutsy move, Flynn.  That could either work very well or very badly.  I’m hoping for very well, if not better!
       
      Yeah, paper losses do have a way of working on our minds but unless we sell then and convert those paper losses into real losses, it usually works out.  Good job on avoiding that.  I had some substantial paper losses in both 2001 and 2008 but by hanging on and not selling any stock or fund shares, it has all returned to the fold.  Invested money is like the tide… powerful, but it flows in AND out.  People who invest need to be ready for that and not panic when paper losses occur, which they will at times.
       
      “The inflection point is closer than we think”
       
      It very well might be… but it will very likely be unrecognizable when it occurs.  Only in hindsight will it be clear. 
       

  32. This should be expected by everyone.  The price was never going to take off after trading horizontally.  If we really are at the end of the correction, the cartel is going to hammer the price as hard as possible for an extended period to cover their shorts, force weak hands out of physical, and acquire as much as they can at reduced prices before going long.  

    At this point, I wouldn’t be surprised if they have directed Congress to allow the sequester to take place to have cover for the next crash (which is a joke, as the sequester, as usual, is just cuts to increases in spending.  We will still be spending more next year than we did the last year).  

    As RSOptions stated, COT report closes today.  If price corrects then we are likely to continue horizontal trading for quite some time.  However, if they continue this price smash through to options expiry at Month’s end then the cartel may be ready to flip their position long.  

    The Fed is now having to buy more debt than the Treasury is issuing, as the rest of the world is now a net seller of existing T Bills.  This is a significant tipping point, as the Fed (and US Gov) will be in a world of hurt if we have to cover not just the new debt issued but also a tidal wave of foreign exchange reserves of Treasuries being dumped onto the market.  When this process begins it will escalate quickly and the US will no longer be able to export inflation to the rest of the world. 

    In my opinion, this is the key event when it comes to PM price explosion.  When countries begin to abandon the US dollar and Treasuries in mass, there will be nothing the Cartel can do to prop up the value of the dollar any longer.  They know this and they won’t fight a losing battle.  

    There are currently $5.5 tril in Treasury bonds held by Foreign governments.  If the world abandons the dollar, which it seems to be doing at this point, the Fed won’t be able to purchase all of that debt along with all of the new debt being issued.  The Fed will likely ramp up QE in the next few months to try and keep up, but when foreign countries start the move things will happen fast and the Fed won’t be able to keep up.

    The only solution available to the govt will be,  as Agiix has outlined many times before, for the Gov to take over US retirement accounts and force them into a GRA (essentially T Bills).  They need an excuse to do this, which will be a major stock market crash, which will be triggered by Wall Street pulling out of the market they inflated and pouring their money into commodities.  They will begin with forcing Govt pensions into GRAs with the option for IRAs and 401ks to voluntarily roll over. 

    We will inevitably go to war as we cannot allow other countries to move away from the dollar.  Some other excuse will be used such as conflict in the middle east.  The war will be used to further justify the need to take over retirement accounts to fund the war effort, at which point private accounts will be forced into GRAs (if you fight this you will be labeled unpatriotic).  

    I fully believe all of this will take place in the next few years, the only question is how quickly the currency war currently underway will escalate.  Hold on to your hats people, this is going to get really ugly before things take off.  I expect low to mid 20s before they flip things long.  Remember to stack supplies too!  All the gold and silver in the world won’t help you buy food and toilet paper if there is none available.  

    • I have heard about the dangers of church and state all of my life but a new phrase should be coined for this time in history: Government & Bank.

    • “They will begin with forcing Govt pensions into GRAs with the option for IRAs and 401ks to voluntarily roll over.”
       
      Agreed.  That will be the trip-wire event that will be our final warning to exit ALL paper investments except for the limited amount of cash we need for paying the bills.
       
      “…but a new phrase should be coined for this time in history: Government & Bank.”
       
      Actually, this is not new.  Thomas Jefferson addressed this rather neatly:
      “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs”.
       
      This is a powerful and prescient statement made over 200 years ago and it is still highly appropriate today.  The coming of the Fed was the event that makes this statement so accurate.  What Jefferson predicted IS happening now and we are witnesses to it. 

  33. At 28 or so, physical supplies should be wiped out. Go Cartel crooks! More! More! More!

    • Some stupid sheep will sell granddads silver collection so it doesn’t lose more money

    • “Some stupid sheep will sell granddads silver collection so it doesn’t lose more money”
       
      Here, Sheep!  Here Sheep!  Nice Sheep!  Papa will take care of all that heavy stuff you want to sell for cheap now.  Yes, here is some paper with ink and pretty pictures of dead guys on them.  There, now, isn’t that all better?  (pets the sheep and then scampers off into the silvery moon light with their silver while laughing maniacally)   lol

    • “Some stupid sheep will sell granddads silver collection so it doesn’t lose more money”
      Too bad that my grandparents don’t buy and own gold and silver. :(

  34. I sense a trip to the LCS developing for this Saturday. Might be pulling out some of that emergency fiat to take with me.

    • If by the end of the week you can buy silver maples for 30 bucks including shipping and the spread that is probably a screaming deal.  I wish I had some money.

    • As usual, I will be going after 90%. The guy that does this in a pawn shop loads back up and changes prices, based on paper spot prices, on Saturdays. He has done this for many years, and it is a habit for him now. I feel so guilty taking advantage of him, but if I don’t someone else will. I could easily buy at or below spot from the guy, resell on ebay and make some profit, but after I buy it I become immediately attached to it and it is like selling my children.

    • Exactly! Whenever I buy gold and silver, I don’t want to sell it back because I have sentimental values for them. Most of the time, I buy junk silver because they are cheaper and they have lower premiums over spot price.

  35. I would hope to see supply dry the f**k up. It is disgusting what these criminals are getting away with as I can only expect you’ll see more pressure put on mining companies too, exacerbating the issue further.

    • Every time we buy an ounce of silver, the available supply becomes that much smaller.  We may be like ants attacking an elephant but we WILL consume the beast.  Time and billions of tiny bites WILL do the job.  ;-)

    • Ed, we need more ants on this elephant and get the job done, or the ants that are there need to work harder.

    • Agreed, Crissy.  Many of us are doing all we can but drafting some additional help would be great.  When we’re good and done with this beast, there will be nothing left but disconnected bones bleaching white in the sun… and a LOT of fat & happy ants!  lol
       

  36. Under 30, it is costing more to mine silver than it is selling for.  There is no profit for the miners.  I don’t see how this could go on for very long, I would think all the miners would shut down.

    • They will continue to mine for a time and will build up their stocks of silver.  They can also ship it to China and perhaps India, by-passing the COMEX and LBMA completely.  I have no doubt that Asian buyers will pony up the extra cash to buy above the paper spot price if they have to.
       

    • Finally someone like me who is also focusing on the cost of production for silver! According to the four year trend line on the silver’s chart which represents the cost to produce one ounce of silver, silver should go soon higher or else, there would shortages since the miners will just stop producing them.

  37. Don’t go wobbly on me now..  
    Was it over when the Germans bombed Pearl Harbor?
     http://www.youtube.com/watch?feature=player_detailpage&v=q7vtWB4owdE#t=17s
     

  38. My LCS just informed me they have plenty of rounds, any type I want!  Bad thing, he said he had to stop buying as people were lined up outside his shop when he opened at 11am.  I use him as a gauge, usually equal buy/sell means price stability, if he is out prices go up, now he has more than he wants so I would guess price will continue down for the next few weeks or months. 

    The last time we dropped below the dma’s, on the same date in 2012, price dropped faster and faster and stayed down for 6 months.  I think we are there again.  If so, June/July would be the time to buy in the low 20s. I know everone will say it will be hard to find, but last summer silver was plentiful at 26 and I am sure seeing the amount of people selling at 29, there will be plenty cashing out below 25, even those guys that bought at $48…

  39. Reviewing the EBAY prices for Canadian silver maples at $34-50 a coin, there is a real diconnect in paper v physical. That’s no great observation. It seems that the low grade feeding frenzy for quality non-counterfeit coins is giving the on line prices a boost.
    The GTSR is about 55 and climbing.  The ratio gets me closer to a trade of gold for silver.
    Last Straw  You see this potential of the IRA grab as well.  I’m pretty convinced that Obama plans to use a Sequester failure as another means to demonize and harm the GOP. 
    He’s using political capital to rout the opposition.  Consequences be damned.  The problem with this scorched earth policy is that we, the people, are damaged by it, maybe beyond our ability to tolerate the pain. Taxes are up, gas prices are up, food prices are inflating, incomes are down.
    Not that he cares about us. 
    But the sequester and debt limits are real, as are the consequences of a debt downgrade, equity crashes and dollar devalution. That will affect the entire world IMO.  The theft of our private pensions is just one component of this diabolical plan. It is not accident either. ‘In politics there are no accidents’.  FDR

    • “Not that he cares about us.”
       
      Of course he cares about “His People”, AG.  After all… weren’t we cash cows kind enough to fund the $25M or so that it cost him to fly down to Florida and play a round of golf with Tiger Woods?  You just KNOW that he appreciated that. Damn, that sure was nice of us!  X-p
       

    • Agiix, 100% agree with you about the sequester.  If they continue to pound metals prices down through the end of the month then I believe the sequester will happen and they will use that as the trigger for a market collapse.  
       
      If they pull back after today, and it turns out they were just beating down the price for the end of the COT, then they will probably find some kind of short term resolution to prevent the sequester and kick the can down the road 4-6 months. 

  40. Maybe is real price of silver about 10$?

    • Yeah… and maybe the real price of oil is $10 a barrel?  Something is worth what we can get for it, no more or less.  Pricing is what decides who gets whatever supplies of things are available.  Not that there isn’t room in all this for lots of skulduggery, conniving,  back-stabbing, etc. because there is.  Oh, yes, there surely is!

    • That would be like saying that the act of adding massive amounts of more currency into the market is making the dollar price of silver go down. Maybe it would be worth $10 if a very, very large alluvial silver deposit was found.

    • That’s like saying: “Maybe the real value of fiat currencies is like the values of all commodities combined in this solar system.”

  41. Well I have some Fiat coming Friday, will spend on some more Silver, hopefully 90% from the stackers that are panicking and the rest on some Freezed Dried Food added to my 6 months supply. I’m trying to get a years supply before the SHTF.
     

    • Good plan, Charlie.  Freeze dried food is awesome stuff.  My wife and I bought several baggies of the Mountain House brand products to try them out and we were both surprised at how good they tasted.  Yes, they are costly but going hungry is expensive too, just in a different way.  We figure that with a good supply of canned goods, dry food like pasta, rice, and beans, the freeze dried food, and whatever we can get from the garden as fresh food, we should be OK.  I’d like to convert our entire back yard into one of those vertical gardens you see on-line or in some magazines.  That would be great.  No more useless grass to care for and a VERY productive garden to can, dry, fill the larder, and eat fresh.  I love garden fresh veggies.  They are terrific.  Steamed green beans and corn are my two favorites.  :-)_
       

    • @Ed_B Yea we tried it also and it was delicious, it wasn’t what I thought it would taste like. Check out Wise Foods, 25 year life span and come in very handy containers. (heck I sound like a salesman)  I buy on ebay and look for the listings that say, make an offer has worked well for me.
       

    • Yeah, I have seen the Wise ads on the Doomsday Preppers show and also checked out their web site.  I tend to be most impressed with the sites that list the calories they have per serving.  Calories will be VERY important in a SHTF situation.  It’s likely that we will all be doing MUCH more physical work and burning off a lot of calories, so good nutrition will be a must.  Some of the meal plans out there only offer about 1200 calories a day.  Others offer 2000 and up to even 3000 a day.  I figure that 2000 calories is about the minimum. There is a company called Legacy freeze dried foods that has a chart that shows what they offer vs. the competition.  The chart shows that they offer the most calories at the lowest price.  I haven’t tasted their food, though, so don’t know if it is good or not.  I plan to buy a small “starter pack” if they offer one that includes a pouch of their various meals to try.  After that, I will know if I want to buy from them.

      Check out:  http://www.freelegacyfood.com/

      There are some reviews on-line and also some YouTube videos that I want to check out before buying.
       

  42. Wish I had the fiat right now but everything is tied up in reloading stuff right now. Anyone have any small pistol primers that are surplus? lol

    • Not me sadly! :( Here in Canada, there are too much restrictions on firearms so it is a really big pain in the butt to get a gun especially a pistol.

  43. There you go, silver is now below 30$ at about 28.70$ per ounce and gold below 1600$ at about 1580.75$ per ounce which gives us all more stacking opportunities! :)

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