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Charts from the Lunatic Fringe.

SilverBuyer

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It has the feel of a big bank attack. Seems silver is always used as leverage for these smack downs. This has been going on for quite some time now and is how we got to a silver to gold ratio of 90. This is an early/aggressive move for sure. It will be interesting to see if there is an answer. I guess the big banks figure the way to stop a short squeeze is to throw more shorts at it. Maybe the thought is that with the resolution of the Mexican tariff thing the dollar will take off and give the bank some momentum to bury gold. I would love to see some miscalculation/black swan event catch the bass turds flat footed and see the rocket lit with the short fuel they have so graciously supplied.
I really think there is an agreement between big banks and big players to not "horde" silver. Imagine what the price of silver would be if it was being stockpiled? Discounting industrial use there's something like 120 billion dollars worth of gold that needs to be absorbed by investors every year but only about 4 billion worth of silver. If that agreement ever disintegrates we will see the price of silver skyrocket.
 

savvydon

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I really think there is an agreement between big banks and big players to not "horde" silver. Imagine what the price of silver would be if it was being stockpiled? Discounting industrial use there's something like 120 billion dollars worth of gold that needs to be absorbed by investors every year but only about 4 billion worth of silver. If that agreement ever disintegrates we will see the price of silver skyrocket.
Fortunately no one has asked me to enter such an agreement. At these prices I can feel free to stuff my piggy bank with as many silver dimes as my little heart desires.;)
 

Zed

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I really think there is an agreement between big banks and big players to not "horde" silver. Imagine what the price of silver would be if it was being stockpiled? Discounting industrial use there's something like 120 billion dollars worth of gold that needs to be absorbed by investors every year but only about 4 billion worth of silver. If that agreement ever disintegrates we will see the price of silver skyrocket.
So you don't buy the Butler JPM stockpile idea?
 

Zed

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According to the way I look at the chart this line is the first of two, maybe three lines in the battle for all the golden marbles. It will be hard fought until it can no longer be defended.

Q 800-pound gorilla with a bullish outlook! Anyone? Anyone?

IMO it will be a hammer blow to the shorts when it finally comes.
 

SilverBuyer

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So you don't buy the Butler JPM stockpile idea?
I buy that it sold him a few more subscriptions, its does make a good story.

The USA even sold off its entire silver strategic reserve that was 165 million oz in 1968. Does this make sense to anyone? Why wouldn't they hold onto it. Its not like that is a big amount of money to a government.

Are there any confirmable (or even suspected besides JPM) significant silver stockpiles in the world? I guess SLV and maybe PSLV are supposedly holding physical silver but that's just custody.
 

savvydon

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My understanding of the supposed JPM silver hoard scheme was that A) they had enough to short the crap out of the market, pay out the occasional delivery contract and dollar average into helluva position along the way and B) be well positioned when the fuse gets lit from the largely other side shorts and sends the value of JPM’s horde to da moon!
 

savvydon

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According to the way I look at the chart this line is the first of two, maybe three lines in the battle for all the golden marbles. It will be hard fought until it can no longer be defended.

Q 800-pound gorilla with a bullish outlook! Anyone? Anyone?

IMO it will be a hammer blow to the shorts when it finally comes.
Would love to see a chart if and when you are so inclined.

FWIW I thought today was a pretty see through PM raid that only modestly accomplished banker goals. Gold didn’t seem to want to collapse any further after the initial collapse, no matter how severely silver was punished. Also, the miners seemed pretty resilient.
 

savvydon

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They were beating up on Hemke over at another thread, but this article is just verbalizing and institutionalizing what he has been saying all year - that quantative easing is coming, and with it a run for the metals, when everyone wakes up and realizes what this monetary policy will do to the dollar.

Looks to me like it’s all coming together. Not sure just when, but it looks like we are on our way.
 

Zed

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They were beating up on Hemke over at another thread, but this article is just verbalizing and institutionalizing what he has been saying all year - that quantative easing is coming, and with it a run for the metals, when everyone wakes up and realizes what this monetary policy will do to the dollar.

Looks to me like it’s all coming together. Not sure just when, but it looks like we are on our way.
It will probably play negatively for stocks, it confirms that things are not as good as otherwise indicated.
 

Zed

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Blood letting down here today... not good, panic and doubt setting in.
 

Zed

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Any thoughts now? Decent rebound.
We are bouncing back today and the bargain hunter are out. (ASX Goldies)

The Daily still looks OK, there is still a flag consolidation in play here in my opinion. I don't think that the previously mentioned targets have changed but we may see a few more swings in this consolidation before we break up. Holding this 1320/40 range is the name of the game, until we break up... I hope.

AU-D-20190612-1.png
 

louky

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If it bounces here, top of the box 1296 (historical), then watch 1305 pivot after that for higher targets. 1359 bottom of the upper box after that.


Chart visual with a tail in previously posted D leg now

I'm guessing no one thought the straight up line from bottom of the box 1269, after a pull back at 1305 was possible.

No historically significant numbers between 1305 and 1359, so sharp moves

 
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Goldhedge

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Zed

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They sure pulled out all the stops for that read... found all the 'thin' people they could and even threw in some old lady lying in bed with her hands in prayer - like she was on her deathbed...

I don't know what's really going on in VZ, but this seemed to garner a certain emotion from the reader... as designed??

The ABC is socialist so they lean far left. Not Looney left but still. I really have no idea, I've read all sort's about the place.
 

Strawboss

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Congrats Zed...I heard that gold made a record high in your neck of the woods today. is that true?
 

SilverBuyer

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They sure pulled out all the stops for that read... found all the 'thin' people they could and even threw in some old lady lying in bed with her hands in prayer - like she was on her deathbed...

I don't know what's really going on in VZ, but this seemed to garner a certain emotion from the reader... as designed??
No doubt its bad there, central planning always fails. The government there has raided bitcoin miners and has to patrol the borders to prevent gasoline smuggling. (turns out giving out nearly free electricity and gasoline is going to cause distortions in the market)

I'm sure the US won't invade because they don't ever invade when they probably are actually needed (North Korea, Venezuela). Maybe if oil goes well above a $100 per barrel their oil reserves will be more tempting to plunder.
 

SilverBuyer

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Hugo Salinas Price comes out swinging at Trump, the $, and isolationism:

Lmao why is Mexico a victim if US dollars are worthless? They are a beneficiary of tariffs if the US dollar is worthless (i pretty much agree this). Hugo is just another rich cunt pretending to care about the people, he could rise the price of silver by himself by buying physical. (and truly skyrocket it by convincing his friends to buy in)

The only thing he is right about is the drugs. The drug war is stupid and senseless and only increases violence.
 

Zed

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Zed

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Congrats Zed...I heard that gold made a record high in your neck of the woods today. is that true?
Yeah, the chart looks a little different to yours...

AU-AUD-M-20190613-1.png
 

Goldhedge

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