Q&A With The Doc: This Silverbug is Ready to Throw in the Towel As Silver Has Gone Nowhere in 2 Years

lucySD reader Cleburne writes:

Hey Doc, I just wanted to share a few thoughts with you, to see if you’ve felt the same things I’ve been feeling.  I guess it’s brought about by the dual Federal Judge dropping the JPM lawsuit (expected, but not one bit less tragic and disappointing despite, is this what Chilton had been waiting on, before declaring the same thing?)…and the fact that despite GATA, Bill Murphy’s promises of CFTC litigation, Turd’s promises of “hot, explosive, historic” action”, Sprott’s removal of another 17 MILLION oz within 4 months, QE3, and QE4…..
Here we languish at $30.  No matter how astronomically wonderful the fundos AND the technical chart look…..all JPM has to do (and do it they have) is pour on another 100 or 200 million ounces of shorts.  That’s all it takes to apparently stop silver prices for the entire world…


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I can’t help but be tarnished a bit(to use good silverbug language) at the fight we’re in.
I never could’ve imagined, and certainly never would’ve believed it….if a me from the future had printed up a link showing silver at $30……with a time-stamp nearly 3 weeks after QE4’s announcement.
This vid, which has been amazingly accurate, was made two years ago….and predicted QE4’s announcement to within ONE WEEK of it happening.  Amazing.  Yet…the voiceover predicted a far more believable QE4 announcement with silver at $100 at that time, spiking to $170 within 24 hours of the announcement.  But here we are with currency apocalypse and silver is $30.  Again, amazing.  Never before in history, has massive manipulation been so perfected, such an artful science, and so mind-blowingly connected to so many players at once.
I know this is a gift, trust me.  You know my mindset well.  I’ve bought silver aggressively for the last two years…and this week, God willing, I’ll make another trip to the local coin shop for a few more dimes…but sooner or later….without any real price evidence to show for it…even the most grisly warrior gets weary.
I’m still making the purchases, but the joy and the zeal of the purchases isn’t there.  Sadly.  You know I’m no belly-acher, I’m not a complainer about a bad week, month, or year….but we’re coming up to the two year mark….with nothing to show for it.  I feel like a guy who’s gone to the gym for a hard, full-body work-out these past two years…and yet my physique hasn’t budged in the least.
I know there’s massive damage done to the enemy, with the London Whale, and JPM stopping their share buy-back program, and stopping their dividends….etc etc etc….but there needs to be results of the victory in tangible form for us. 
It’s gotten to the point where I don’t want to tell others about silver (and I’ve personally been responsible for convincing dozens to do so), and I’m sure they’re sick of being locked in this price action too.
Anyway, hopefully I’m not depressing with you with an admission like this, just, when a guy’s in the trenches, I guess it helps to bum a cigarette now and then and share war stories, before trying to shoulder the rifle again and keep from becoming a crater from the powers that be. 🙂



Regarding silver’s 2 year consolidation…this is nothing new in silver’s bull market.

Check out a 13 year chart of silver’s bull market:

silver chart
Early in it’s bull run, silver peaked in Q1 2004, and didnt surpass that peak until Q1 2006.
Silver then peaked in April-March 2006, and didn’t break out again until Jan 2008.
Silver then peaked in March 2008 with the Bear Stearns collapse, and didn’t break out to new highs until August 2010. Silver then peaked in May 2011. That puts the window for the next break out around March-September of 2013 based on what we’ve seen previously in the bull market.

As much as silver investors might like it to be, this isn’t about beating the banksters. The bullion banks will profit the most in this gold and silver bull market, not small retail investors.  Not only are they manipulating the market to their advantage, but they are professionals.  They will go massively to the buy side precisely when small/retail investors are throwing in the towel from lack of action to the upside, and fear of collapse.

This is not about beating the banksters, this is about preserving your wealth from the devaluation of the US dollar.
It’s important to take a step back and look at the forest. Would you rather have a $20 fiat note from 1930, or a $20 gold double eagle/$20 in silver coins? The devaluation of the currency will accelerate as we near the end game.  Secular bull markets end in massive blow-off tops.  They do not end after 24 month consolidations.  Less than 1% of US investors have even considered the gold and silver markets.  We are still far from a manic top.

Hope this helps, and all the best in 2013.