Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
Here's a report from two guys who know gold & silver far better than I do, and they have the cred:
http://www.gata.org/files/QBAMCOItsTime-12-2012.pdf
:rotflmbo:Boundless inflation will become apparent to the public either when: 1) banks begin using their new
reserves to try to issue more credit; 2) mysterious “animal spirits” (i.e., when leveragable balance sheets
meet common greed) spontaneously combust, or; 3) next Tuesday for no apparent reason.
Why would TPTB want silver to remain #1 performer for 2012.
Make silver look bad, on PAPER, and keep paper believers away.
Endless psy-ops against PM's.
I don't personally believe they are finished yet. Expect more shenanigans going in to year end, because those massive shorts have to be counted on their books, so the lower the better.
Although it might be a bit premature to confidently call a bottom here, as I said that I would weigh in after reviewing the COT numbers released today, I think that there's a very good chance that the worst is over and prices will start to head back up from here.
After reviewing the COT numbers as of last week, and the price damage done to silver this week, I have concluded that we are unlikely to get lower than 28.00US$ during this engineered crash. The price of silver is roughly proportional to the increase in Commercial Net Short contracts, so how low the silver price goes on this smackdown depends on how much short covering the Bag Guys are going to do. Although the Cartel did reduce their short exposure down to as low as 12K earlier this summer, that was an extraordinary event and a 10-year low. I think it is quite unlikely that the Cartel will reduce their short exposure even below 20K contracts this time; in fact I think it will only go as low as 25K contracts because there is simply too much interest in precious metals at the present time to risk driving the silver price that low. Demand for physical silver is always highest when the price is either ultra-high and rising quickly, or ultra-low and falling rapidly, and doing such a thing at the present time would risk causing actual physical silver shortages or delivery problems in the real physical silver market, in which case it's Game Over for the Cartel manipulation. It's a fine line that the Bad Guys have to walk...they need to keep the silver price as low and volatile as possible, yet without inducing actual physical silver shortages which would expose the fraudulent nature of the ultra-leveraged fractional paper precious metals system that TPTB use to divert demand for real metal into more worthless paper promises.
If you are thinking about adding to your stack, I think now is a very good time to add heavily to your position, at roughly 29.50US$ or thereabouts. If you wish, save some powder in case the price does drop another dollar or two, but I think that we're close to scraping bottom here, having already dropped some 16% in the past 30 days alone.
I just added my last 40 ounces for the year.
Spot might dip, but will premiums rise to cover?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?