If silver touches $20 per ounce would the MSM touch the news ?

[minimus]

I somehow doubt it.

[Irons]

Nope, won't happen and if it does you might want it bagged up to sell because it won't stay there long!

[RoyalBeluga]

Nope, won't happen and if it does you might want it bagged up to sell because it won't stay there long!

I'm hoping it stays above $20!

[Goldteam]

Nope, won't happen and if it does you might want it bagged up to sell because it won't stay there long!

why is that?

[Irons]

why is that?

The last silver peak of $20.78 was in March 2008 and it lasted less than 1 day. If you sold then you could have bought back in @ $9.46 an oz 6 months later.
There was next to no silver to buy at that time, but there is probably 10 times more silver on the market now then there was then so no biggie.
I will load back up on the next good drop, silver is cheap and easy to buy.

[ccjoe]

The last silver peak of $20.78 was in March 2008 and it lasted less than 1 day. If you sold then you could have bought back in @ $6.96 an oz 6 months later.
There was next to no silver to buy at that time, but there is probably 10 times more silver on the market now then there was then so no biggie.
I will load back up on the next good drop, silver is cheap and easy to buy.

You really didn't mean 6.96 did you?
It was in the 9's.

[Irons]

You really didn't mean 6.96 did you?
It was in the 9's.

It's right on the chart, on the top highs and lows.

[SongSungAU]

It's right on the chart, on the top highs and lows.

The low of $6.96 was before the high of $20.78. After the high, it went down into the nine dollar range.
But I get your point.

[Irons]

The low of $6.96 was before the high of $20.78. After the high, it went down into the nine dollar range.
But I get your point.

ACH!!! I diden't look close enough, Thanks!

[Irons]

You really didn't mean 6.96 did you?
It was in the 9's.

You're right, I read the chart wrong. It was in the mid 9's.

I'm looking for the best 2 stage snowblower for the price before I go buy one, so I'm a bit distracted!!

[RoyalBeluga]

You're right, I read the chart wrong. It was in the mid 9's.

Doesn't matter where it WAS ...... what matters is where it's HEADIN'!

[flacon]

I won't sell mine until it reaches into the 700's. The days of huge dips are over - don't forget the billions of Chinese, Indians, and Muslims who will GOBBLE up any price dip.

I also suspect that JP Morgan's silver manipulation crimes have broken down. No smash-down of silver on options expiry in August, and just look at the price the past two weeks! Up TEN PERCENT in about 10 days or so! Surely if the manipulators had any firepower left they would have hit silver hard - but the hits just never came.

[Irons]

I hope you're right, its about time silver bugs got a break!

[flacon]

See here:

"Scared Sh*tless" 1

Blythe Masters told her remaining employees that competitors are "scared sh*tless" of JPMorgan's commodities division. She claimed the layoffs of 10% of front office staff are not a sign of JPMorgan "panicking" and called the risk taking in coal trading that left JPMorgan wide-open to a massive short squeeze a "rookie error."

JPMorgan's Losses From Indecent Overexposure
http://www.huffingtonpost.com/janet-..._b_676042.html

[flacon]

Silver bugs will be rewarded handsomely when all the fractional-reserve lending and naked-short-selling UNWINDS in their favour! It is INEVITABLE.

[RoyalBeluga]

$700 silver?

[flacon]

Full article here:

[JP Morgan] Blythe Masters Says ‘Don’t Panic’ as Commodities Slip
http://www.businessweek.com/news/201...ties-slip.html

Masters said. “Remember that you work for a business that is one of the boldest and gutsiest and ballsiest businesses that I’ve ever had the pleasure and privilege to work with.”



Scratch out BALLSIEST and replace with SUICIDAL! I hope Masters gets the air permanently squeezed out of her for her crimes against humanity!

[flacon]

I love this quote:

Masters explained what happened like this:

"We got squeezed. We made a rookie error, we made ourselve vulnerable to a squeeze."

So JPMorgan's commodities unit is under a lot of pressure right now.


Read more: http://www.businessinsider.com/blyth...#ixzz0yUEJFoSQ

[SongSungAU]

Very interesting article.

Here's a line I really don't understand....
The London team has also since devised a way to provide “synthetic storage�

Now what the heck can "synthetic storage" be? You either hold it or you don't. I reckon whatever it is, JPMC will make money and someone else will lose money.

Dang thieves!

[minimus]

It means they have another financial entity or producers warehouse commodities at no cost to JPM.

Silver isn't coming down, JPM is unwinding (covering) its shorts via Dump and Buy market manipulation.

[Ragnarok]

Gotta have "synthesized storage" for all that "synthesized metal"!

As for $20 silver , I think the MSM would actually touch it - once... with a ten foot pole... at 2AM.

R.

[andial]

Nope, won't happen and if it does you might want it bagged up to sell because it won't stay there long!

I strenuously disagree with the above statement.

[Irons]

I strenuously disagree with the above statement.

Don't hurt yourself!!

[andial]

Don't hurt yourself!!

I am impervious to harm, I have Silver.

[917601]

Destruction of a monetary instrument is not price, but volatility. Huge swings in pricing destroys value.That was accomplished with rookie silver
investors and get rich quick investors, the true silver bugs understand this and load up the truck. We will be rewarded for patience and trust in "real money "-Gold,Silver, and Copper.

[<===Foolsgold]

$20 is not a big deal in my book. It was $21 in 2008.

I am impressed with AG's performance of late. I would really really like to see JPM's balls in a vice don't get me wrong but $20 is nothing.

[Irons]

$20 is not a big deal in my book. It was $21 in 2008.

I am impressed with AG's performance of late. I would really really like to see JPM's balls in a vice don't get me wrong but $20 is nothing.

I agree. Gold and Platinum move more than that either direction in any given day.
Silver go's up 75 cents in a week and 1/2 the forum wets thier pants.

[andial]

The distress amongst the Gold only bugs is quite palpable. But I say Silver bugs mustn't seize on this distress (and obvious sign of weakness) but instead rise above it in quiet determination much like Silver is rising above all other metals in stature.

[minimus]

I agree. Gold and Platinum move more than that either direction in any given day.
Silver go's up 75 cents in a week and 1/2 the forum wets thier pants.

Any pile of scrap copper has out performed gold.

[RoyalBeluga]

Destruction of a monetary instrument is not price, but volatility. Huge swings in pricing destroys value.That was accomplished with rookie silver
investors and get rich quick investors, the true silver bugs understand this and load up the truck. We will be rewarded for patience and trust in "real money "-Gold,Silver, and Copper.

I'm collecting as many British Copper coins (bronze 97%) as I can find, where do you see copper in 5 years time?

[Irons]

Any pile of scrap copper has out performed gold.

Which would you rather have?

[curmudgeonista]

I agree. Gold and Platinum move more than that either direction in any given day.
Silver go's up 75 cents in a week and 1/2 the forum wets thier pants.

Currently, a 75¢ move in silver is more than double the percentage of a $20 move in gold... nearly 4% on the silver an less than 2% on gold.

[minimus]

Which would you rather have?

I already have #1 and#2 scrap but, thanks for the offer !

[andial]

Copper like Silver, Platinum, Palladium, Aluminum, etc. have still not passed there 2008 highs. All will in due time.