Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Silver Bug

Like Tree13Likes
  • 1 Post By ancona
  • 1 Post By PMBug
  • 1 Post By oppie2005
  • 1 Post By bushi
  • 2 Post By Jetstream
  • 2 Post By benjamen
  • 2 Post By DCFusor
  • 1 Post By Jay
  • 2 Post By benjamen

Reply
 
LinkBack Thread Tools
Old 10-08-2012, 08:11 AM   #1
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
Maxwells silver hammer time

I see the shorts are getting aggressive on this semi-holiday and ahead of the Merkel meeting in Greece tomorrow. If Merkel actually makes it in and out of Greece in one piece, they will have accomplished exactly nothing, so I see that trip as a waste of everyone's time.

Back to silver. The last three trading days have been quite interesting as the Brotherhood of Darkness in concert with the Powers That Be work to keep the lid screwed on tight at $35 and below $1,800. How much longer can they keep this up you ask? Probably forever. These guys have an unlimited quantity of un-backed paper promises to deliver invisible silver, so at least in the short run [read: pre-election] we will not see either metal do very well. After the election however, they still have an unbelievable pile of shorts to get to net on or to cover, so I think the action in the close of the year will prove to be exciting.

I can't wait!
BigJim likes this.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 10-08-2012, 08:28 AM   #2
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,055
Liked: 2451 times
Good time to be stacking phyz.
BigJim likes this.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 10-08-2012, 01:03 PM   #3
Predaceous stink bug
 
Join Date: Nov 2011
Posts: 129
Liked: 40 times
just added a good bit to my stack
BigJim likes this.
oppie2005 is offline   Reply With Quote
Old 10-08-2012, 02:56 PM   #4
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
IMO:

"It's ALWAYS a good time to stack!"
DoChenRollingBearing is offline   Reply With Quote
Old 10-08-2012, 08:55 PM   #5
ADK
Predaceous stink bug
 
ADK's Avatar
 
Join Date: Apr 2012
Location: Backwoods of NY
Posts: 223
Liked: 123 times
Originally Posted by ancona View Post:
... the Powers That Be work to keep the lid screwed on tight at $35 and below $1,800. How much longer can they keep this up you ask? ...
Hopefully until the end of the week when some spending cash rolls in

ADK
__________________
I like the idea of trading silver with the gentlemen while keeping gold like a king and always appearing as a peasant...
ADK is offline   Reply With Quote
Old 10-09-2012, 01:37 AM   #6
Big-eyed bug
 
Join Date: Mar 2012
Posts: 318
Liked: 199 times
The big date to keep your eyes on is the US election. It really depends who TPTB want to be in the White House.
Personally, I think it's Obama, and if that is the case, they will keep the dollar up as best they can and keep gold/silver down.
If he gets back in, then the panic money starts to move into PM's and out of of fiat.
Jetstream is offline   Reply With Quote
Old 10-09-2012, 03:41 AM   #7
Yellow Jacket
 
rblong2us's Avatar
 
Join Date: Nov 2011
Location: off world
Posts: 1,982
Liked: 877 times
Originally Posted by Jetstream View Post:
If he gets back in, then the panic money starts to move into PM's and out of of fiat.
why does this happen ?
what changes as a result of a somewhat darker skinned puppet getting 'chosen' ?
__________________
if it cant be done with a digger .... it cant be done
rblong2us is offline   Reply With Quote
Old 10-09-2012, 05:38 AM   #8
Ground Beetle
 
bushi's Avatar
 
Join Date: Nov 2011
Posts: 971
Liked: 554 times
...it is all mass-psychology, and managed perception.. Thinking critically, they are both just different sides of exactly the same coin (or rather a banknote ) , and there's no material difference between them. But the (managed) perception and hype is all that matters (short term) - that's how you create imbalances and shear the sheep, if you are connected enough.
oppie2005 likes this.
__________________
“...the issue which has swept down the centuries and will have to be fought sooner or later is the People versus the Banks.
Lord Acton
bushi is offline   Reply With Quote
Old 10-09-2012, 10:13 AM   #9
Big-eyed bug
 
Join Date: Mar 2012
Posts: 318
Liked: 199 times
Originally Posted by rblong2us View Post:
why does this happen ?
what changes as a result of a somewhat darker skinned puppet getting 'chosen' ?
Simple. A lot of die-hard Republicans who don't see the 2-party system as just 2 sides of the same coin, will become nervous about their investments with Obama in for a 2nd term.

Of course, it makes no material economic difference to you or me as to which guy gets in, but the GOP people see the Dems under Obama as evil (which to a large extent that may be true), but not their leaders.

And it is largely middle class American Republicans that hold the bulk of the wealth that the banks want to destroy.

If Obama gets in again, just like there was a spike in gun sales, so I believe there will be a spike in gold / silver this time around.

I admit this is just my opinion, but what I am mostly pointing out is that I think there will be strenuous efforts to keep the price of PM's in check until after the election if TPTB want Obama back in. Can't have the economy in a free-fall and expect to have the man returned to power. But once he is back in ... watch out. He will push for things in his second term that will make good people think of his first as "the good old days" by contrast.
rblong2us and BigJim like this.
Jetstream is offline   Reply With Quote
Old 10-12-2012, 08:32 AM   #10
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
This is just getting.....well.......comical now. Just look at the Kitco chart to have a good belly laugh. The massive drop over a four minute period is a symptom of the imperial rot eating away at public confidence in the "system". When I see this regularly occurring and obvious slam, I cannot help but feel rage and hatred for the people responsible. If JPM et. al., were actually holding "borrowed silver" to back up their massive short position, I would have no problem with it. However, knowing that at best, all they hold is a tenuous grip on re-re-re-hypothecated shares in SLV that may or may not even be backed to any degree by actual silver. It makes me sick to my stomach knowing that our government regulators simply whistle and walk by as if nothing is amiss.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam

Last edited by ancona; 10-12-2012 at 09:54 AM.
ancona is offline   Reply With Quote
Old 10-12-2012, 09:08 AM   #11
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,055
Liked: 2451 times
If you believe John Embry, there is a war going on:
Quote :
...
The commercials are massively short gold at the moment, and each time they try attempt to drive the price of gold lower, there is a solid wall of physical buying they are running into. I just don’t think they anticipated this. Meanwhile, the Eastern buyers, such as China, are delighted the commercials keep trying to push gold lower.
...
We are literally witnessing a war between the physical buyers (Eastern central banks), and the paper manipulators (commercials or bullion banks), and that is why there is such a fierce battle being waged between $1,735 and $1,800. It will be fascinating, Eric, to see how this is resolved in the gold market.
http://kingworldnews.com/kingworldne...g_Overrun.html
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 10-12-2012, 09:15 AM   #12
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
I am also delighted that prices are being pushed lower! I for one will not complain that it is now cheaper for me to increase the ounces in my stack. Think in terms of ounces, not USD.
BigJim and Jay like this.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-12-2012, 01:43 PM   #13
Yellow Jacket
 
DCFusor's Avatar
 
Join Date: Nov 2011
Location: Floyd, Virginia
Posts: 1,682
Liked: 1233 times
Sort of OT here, but you know, I never really understood that Beatles song until I realized that Maxwell's Silver hammer was the media - Maxwell's equations are what define radio waves/photons and how they propagate.

Listen to that song with that in mind sometime, and suddenly it makes a ton more sense. Those guys were not stupid.
DCFusor is offline   Reply With Quote
Old 10-12-2012, 02:19 PM   #14
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,055
Liked: 2451 times
Well, that's the beauty of art. You get to interpret it from your own world-view. FWIW:
Quote :
As Steve Turner noted in A Hard Day's Write, his volume on the origins of Beatles songs:
Quote :
"John told me that 'Maxwell's Silver Hammer' was about the law of karma," says former Apple employee Tony King. "We were talking one day about 'Instant Karma' because something happened where he'd been clobbered and he'd said that this was an example of instant karma. I asked him whether he believed in that theory. He said that he did and that 'Maxwell's Silver Hammer' was the first song that they'd made about that. He said that the idea behind the song was that the minute you do something that's not right, Maxwell's silver hammer will come down on your head."

Paul said at the time that the song "epitomizes the downfalls of life. Just when everything is going smoothly, 'bang, bang' down comes Maxwell's silver hammer and ruins everything."
http://www.snopes.com/religion/hammer.asp
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 10-12-2012, 03:57 PM   #15
Jay
Yellow Jacket
 
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
Originally Posted by benjamen View Post:
I am also delighted that prices are being pushed lower! I for one will not complain that it is now cheaper for me to increase the ounces in my stack. Think in terms of ounces, not USD.
wish you could convince my wife of that. She would rather have a stack of fiat ANY day; she was VERY annoyed today when I bought five ASE at spot. "But what if we run out of money?" (Not likely, we are adequately well set). "Then I'll sell some silver". "But you'll lose money then." Ensued a long explanation of cost averaging, while she "smirked". Uggghhh.
Jay is offline   Reply With Quote
Old 10-15-2012, 09:22 AM   #16
Yellow Jacket
 
DCFusor's Avatar
 
Join Date: Nov 2011
Location: Floyd, Virginia
Posts: 1,682
Liked: 1233 times
I had no idea anyone named Maxwell had anything to do with karma, which predates the Maxwell I know by a few thousand years. And which traditionally was a lifetime, not an instant, thing. But as you say, that's the beauty.
DCFusor is offline   Reply With Quote
Old 10-15-2012, 09:27 AM   #17
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
Originally Posted by Jay View Post:
wish you could convince my wife of that. She would rather have a stack of fiat ANY day; she was VERY annoyed today when I bought five ASE at spot. "But what if we run out of money?" (Not likely, we are adequately well set). "Then I'll sell some silver". "But you'll lose money then." Ensued a long explanation of cost averaging, while she "smirked". Uggghhh.
The compromise I reached with my wife was to keep a 90 days worth of expenses held in USD. Yes it will depreciate, but that cost is cheap in the keeping the spouse happy currency.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-15-2012, 01:04 PM   #18
Jay
Yellow Jacket
 
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
Originally Posted by DCFusor View Post:
I had no idea anyone named Maxwell had anything to do with karma, which predates the Maxwell I know by a few thousand years. And which traditionally was a lifetime, not an instant, thing. But as you say, that's the beauty.
I thought Dharma was now and karma was the next life thing.
Jay is offline   Reply With Quote
Old 10-15-2012, 01:06 PM   #19
Jay
Yellow Jacket
 
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
Originally Posted by benjamen View Post:
The compromise I reached with my wife was to keep a 90 days worth of expenses held in USD. Yes it will depreciate, but that cost is cheap in the keeping the spouse happy currency.
shifting loyalties/crisis. I bought a used POS Saab for 1700, it crapped out. Looks like it would cost a fortune to repair (my bad, didn't DYODD on this) and I'll sell it as junk. She was so worried about the perceived financial loss in the car that she forgot about the silver.
Jay is offline   Reply With Quote
Old 10-16-2012, 08:45 AM   #20
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
I hope resistance holds this week. I think 32.50 is the red battle line here.

Although, even at 32.50 my DCA is still pretty damn good, since It has been a while since I've had enough extra jack to pick up more than an ounce or three a week. Back in the day, there were weeks that i would pick up a hundred without blinking and whistle my way back to teh car. Now, i am struggling to get more than three a week.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
EUR/CHF peg beeing attacked for the first time swissaustrian Fiat Ponzi 44 12-04-2012 05:48 AM
It's time to go long the VIX (Volatility) swissaustrian STS 28 11-26-2012 06:39 AM
Time Zone? ancona STS 7 08-05-2012 03:00 PM
Time to move to Idaho? benjamen Fiat Ponzi 5 06-30-2012 12:06 PM
Platinums time to shine? Bonzo PM Bug 1 06-14-2012 01:12 PM


All times are GMT -5. The time now is 11:44 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.