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Shall we bake the $20 cake for silver???????????

Howdy

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I went and bought another 500 troy ounces of .999 generic silver rounds from my local coin/bullion shop today. 17.95 each. I took physical possession immediately. $1.30 an ounce over spot is the best they would do for that volume.
I figure if Spot does go to $14 like some here say, I probably won't be able to buy any actual physical silver for much less than that anyway.
There are better deals on ebay and online dealers, but taking immediate physical possession is worth a few cents more to me.
I have a lot more dry powder and if it does drop farther, I'll buy whatever I can find if any. Having dry powder....money in the bank....is much scarier than the thought of silver dropping another buck or two.
 

solarion

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Nice. I went with a mix of assorted year eagles for 19.33 each and generic rounds for 17.77 from silver.com this last time. Was delivered in a flash and looks beautiful.

Obviously I'll let you guys know which skips better next time I go boating.
 
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goldielox1

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People always seem so happy to see silver go up. I love to see it wallowing and dropping. I keep adding moar the longer the banksters keep it down. Each $16 purchase is like a locking in a 6-fold or more profit in just a few short years.
 

solarion

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The price of paper silver doesn't even come close to keeping up with the rate of inflation. The fraud couldn't possibly be moar overt at this point. Fake fed "money" is down another .3 today...in addition to the 4% drop over the past couple months and silver has done nothing but fall during that time.
 

goldielox1

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The price of paper silver doesn't even come close to keeping up with the rate of inflation. The fraud couldn't possibly be moar overt at this point. Fake fed "money" is down another .3 today...in addition to the 4% drop over the past couple months and silver has done nothing but fall during that time.
In the long run both metals have kept up with inflation quite nicely. $20 Au and $.50 Ag from 1930 is now 6200% and 3300%. If you cut off the two big bubbles (1980 and 2012) the graph is almost a perfect line with real dollar purchasing power.
 

solarion

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I see, so you just go back to when we were on a bi-metalic standard and the price was fixed by gumbymint. Why 1930 though? I mean if you use 1934 you can avoid the 70% drubbing the dollar took when FDR scammed US gold owners. I mean if you're going to cherry pick data...might as well do it up right.

...then you just neatly lop off the two spikes in precious metal prices because "bubble". lol Guess what else just happened to be in a bubble in 1980? Imagine that. ...damn those Hunt brothers and their interest rate pumping. lol



Weird eh? It's almost as if the metals were signaling something.

Then in 2011 following the global financial collapse the metals again began to do what they're supposed to do, but the banksters slammed them down with their counterfeit paper scams. This in no way changes the simple fact that so many "dollars" have been created that the metals should both be multiples ahead of where they are now. ...like so:



...and of course you have bankster after bankster flat out admitting that they rigged metal prices for decades, but we should just ignore that because banksters are always turning themselves in for crimes.

...and just for giggles, why did Nixon take us out of Bretton Woods in 1971 anyway? Could it be that far more receipts for gold(dollars) were printed than the US had to back them with? hmmm....

...then there's Kennedy and Johnson giving silver money the boot. Gosh I wonder why they'd do that. Seems like the kind of thing you'd only do if you wanted to dramatically debase a currency without the annoying restraints of a physical commodity holding your printing presses back. I know...I know, crazy talk.

No, the metals have flat out sucked at keeping up with the printing presses. Weird how derivatives conjured out of nothing and sold as a commodity will do that.
 
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Uglytruth

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..then there's Kennedy and Johnson giving silver money the boot.
Great point about laying the ground work 10 years earlier for Nixon to pull out........ but if Kennedy was killed because he wanted to bring back the greenbacks ...... that don't add up.

QUESTION: When did paper metal start trading?
 

solarion

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but if Kennedy was killed because he wanted to bring back the greenbacks ...... that don't add up.
One doesn't have much to do with the other imo. Kennedy granted his treasury secretary broad discretionary powers with EO11110. The secretary could then choose to print silver certificates(which Kennedy discouraged), US Notes(which were produced), or FRNs. Since US Notes are limited to $300m in circulation at any given time and Kennedy wanted silver certificates phased out, the majority of new currency was inevitably going to be FRNs.

https://en.wikipedia.org/wiki/Executive_Order_11110

QUESTION: When did paper metal start trading?
I don't know exactly when silver options/futures became available at the Crimex & LBMA, that's something I'd have to look up, but they aren't new. The SLV ETF scam has only been around since the mid 2000s.

Of course banksters have now admitted to rigging the London silver "fix" which has been around for over 100 years.
 

solarion

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Look at the action just today in our fake phony and false markets. The US dollar is at a fresh 9 month low today, which obviously means assets denominated in dollars are rising right?



Well no, apparently not. Both gold and silver have done nothing but fall in dollar terms since the almighty petro dollar's recent high on April 7. The way to accomplish this is to counterfeit the metals via derivatives and dump them on the market.

Hopefully we can finally dispense with the silly argument that the metals move inversely to the dollar. They clearly do not when the market is rigged.
 

Uglytruth

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when the market is rigged.
They control the market, you don't think they play it both ways and capture that $5 gold both ways and that 0.20 silver both ways? They know how much and when it is going to move. Your not going to beat them at their own game when they have the weighted dice.

Easy money when they control the game...... call it what is it....... very very fake markets....... fake crude....... fake metals....... fake stocks....... fake, fake, fake
 

Cigarlover

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The silver market is a billion ozes a year. Less than 17 billion worth. Some day maybe China can step up to the plate and just start buying every long call option and every futures contract out there. When they do silver will be at 1000 in no time. Of course that would probably never happen though..
 

goldielox1

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I see, so you just go back to when we were on a bi-metalic standard and the price was fixed by gumbymint. Why 1930 though? I mean if you use 1934 you can avoid the 70% drubbing the dollar took when FDR scammed US gold owners. I mean if you're going to cherry pick data...might as well do it up right.
Since the gov was forbidden to print money without something backing it before 1933, that's why I just picked a date around that time. If you want to pick 1932, 1931, 1929, 1928, it doesn't matter. Even if you pick a date after 1933, the point still holds. It has performed very well relative to inflation. Is it manipulated now? Yes, which is great for intelligent people that are locking in immediate profits before the inevitable correction.

Were there bubbles that burst a few times? Yes. But that doesn't affect whether its underlying value moves with inflation in the long run.

Your interest rate graph actually makes a case that the bubble was Ag doing its job. Skyrocketing rates would send Ag parabolic. Those same rates coming back down would signal the threat of hyperinflation is over and Ag would come back down. We could argue the cause of either, but it's really not germane to the point which was that metals are a good long-run inflation hedge.
 

Howdy

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With silver down again today, I picked up another 500 generic rounds of .999 silver for 17.40 an ounce at my local coin shop. Spot plus $1.20.
I can sleep better knowing my wealth isn't tied up in paper FRN's. Any silver I buy at under 18 seems like a safe bet.
 

solarion

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Nice! I went with JMbullion this time. Got myself a stack of generic rounds and got a starter pack as a gift for my kiddo. The starter pack is 10 10z rounds at spot + free shipping...16.25 an ounce.
 

skychief

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Nice! I went with JMbullion this time. Got myself a stack of generic rounds and got a starter pack as a gift for my kiddo. The starter pack is 10 10z rounds at spot + free shipping...16.25 an ounce.
Stay the course. These stupid-low prices won't last forever. Keep buying. $16 is the floor. Booyah.
 

solarion

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I ain't goin' newhere. I've stacked a lot of boat anchors during white copper's latest tour of the teens. I like the stuff, cuz it skips across the water better than rocks.

Banksters can KMA...buncha fegs.
 

stAGgering

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Stay the course. These stupid-low prices won't last forever. Keep buying. $16 is the floor. Booyah.
Would you be truly surprised if $16 became the ceiling instead of the floor ?
We have ALLLLL summer to investigate the $15 family room.
If we are lucky, the basement stairs will not be stumbled down.
Several big'un metal investors referred to testing the 100/1 silver/gold ratio or close proximity again.
Something must move and we have not seen USD or gold grasping paranoia yet.
Red sky in the morning, sailors heed warning.
Red sky at night, sailors delight.
I'd say looking eastward, from the the western world, no AM blue sky.
 

skychief

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Would you be truly surprised if $16 became the ceiling instead of the floor ?
I wouldn't be at all surprised if it was the ceiling and the floor. Silver has been remarkably stable since 2014. I expect silver to be around $16 in December.

We have ALLLLL summer to investigate the $15 family room.
Sure - it could dip into the $15s. Hope it does. Moar reason to buy moar silver.

If we are lucky, the basement stairs will not be stumbled down.
No tumbling down the Basement stairs. It shouldn't go below the price to mine it. AFAIK, that would be around $14/Oz

Several big'un metal investors referred to testing the 100/1 silver/gold ratio or close proximity again.
That only happened once, AFAIK [1991?]. Its really hard to achieve and maintain.

"It's tough to make predictions, especially about the future." -- Yogi Berra
 

Silver Art

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Looks like it did a flash crash to $14.70

It apparently went as low as $14.27 (based on kitco page) before it made a lightning quick reversal. It happened between 7PM - 7:10 PM EST. JPM must have took a huge paper dump on the DOG to try to push it down but only succeeded for about 10 minutes before it quickly recovered. This is just a WAG on my part.

EDIT: I am glad that you saw this too and it was not just my imagination.
 

platinumdude

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It apparently went as low as $14.27 (based on kitco page) before it made a lightning quick reversal. It happened between 7PM - 7:10 PM EST. JPM must have took a huge paper dump on the DOG to try to push it down but only succeeded for about 10 minutes before it quickly recovered. This is just a WAG on my part.

EDIT: I am glad that you saw this too and it was not just my imagination.

You should of had your buy order in ready to go and execute. What is your guess for this year's low?
 

Silver Art

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You should of had your buy order in ready to go and execute.
I was staring at some of my '70's silver art bars that I had beside my computer for a long while and I was not paying attention and as a result, I was caught unprepared for the $1.73 flash crash. Bummer..............
 

stAGgering

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I wouldn't be at all surprised if it was the ceiling and the floor. Silver has been remarkably stable since 2014. I expect silver to be around $16 in December.


Sure - it could dip into the $15s. Hope it does. Moar reason to buy moar silver.


No tumbling down the Basement stairs. It shouldn't go below the price to mine it. AFAIK, that would be around $14/Oz


That only happened once, AFAIK [1991?]. Its really hard to achieve and maintain.

"It's tough to make predictions, especially about the future." -- Yogi Berra
December expectation, daring to say.
I expected greater volatility, USD based by December.
So, we already are in the $15's , not surprised.
Mining cost is primarily oil price. If oil cost lessens so does mining.
The $14 figure is not definitive for all mines and many are currently operating at loss.
When we briefly witnessed silver's downward spike, the silver/gold ratio tagged 85/1.
Only 15 to go in order to touch 100/1.
Such does not look so far away anymore.
Not quite as distant as Silver for $20 an ounce.
Deal of the Decade is approaching... maybe.
 

goldielox1

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December expectation, daring to say.
I expected greater volatility, USD based by December.
So, we already are in the $15's , not surprised.
Mining cost is primarily oil price. If oil cost lessens so does mining.
The $14 figure is not definitive for all mines and many are currently operating at loss.
When we briefly witnessed silver's downward spike, the silver/gold ratio tagged 85/1.
Only 15 to go in order to touch 100/1.
Such does not look so far away anymore.
Not quite as distant as Silver for $20 an ounce.
Deal of the Decade is approaching... maybe.
It seemed like they had to work super hard to get under $16. What were there like 3 fat fingers in the last month? I was watching pretty carefully because I wanted to buy more. Given how hard that was for them, I have doubts they'll be able to push it under $15 which I would guess probably has even more resistance than $16 did.
 

goldielox1

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Waiting for $14. I'll borrow the brother-in-law's pickup truck when it happens. Hoorah.
You may not get there. We've only been down to the $14 level one time in the last 7 years. That lasted just a couple months and was a year and a half ago.
 

louky

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Looks like it did a flash crash to $14.70


Nope, you are seeing things. Comex reversed all trades below 15.40ish

:belly laugh::belly laugh:


At 19:06:38, the CME systems implemented a 10 second halt in the COMEX silver futures contracts. Within 20 minutes, CME made an announcement in a messaging broadcast that it was reviewing all SIU7 (September futures) trades that had taken place under US$ 15.84 and all SIZ7 (December futures) trades that had taken place under US$ 15.94. After another 20 minutes, CME announced in a messaging broadcast that for SIU7, any trades executed below US$ 15.54 would be adjusted up to US$ 15.54, while for SIZ7, all trades executed below 15.64 would be adjusted up to US$ 15.64.
 
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stAGgering

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"Tick tock the wicked witch...."
Ain't dead.
Oohh it feels good knowing Tuesday morning smackdown is back.
"Sm sm smack it real good" - Salt-n- Pepper
All normal now.
Move along, nothing to see here, move along.
Unless your BUYING !
 

andial

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Twenty this week.
 

Uglytruth

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Will the China exchange ever be able to overcome the London & Comex manipulation?