| By
bluejay |
05/06/2011 8:42AM |
Gold $1495.70 UP $22.60
Silver $36.25 UP $ 1.59
Bob Chapman reports that sources are telling him that Treasury employees are contacting commodity trading firms with suggestions that they instruct their accounts holding silver contracts to sell them. What is this? You know what it is: more government control of markets. This may work over the short term but these types of price containment efforts ALWAYS end in failure over the long term, always.
Hugo Salinas Prices' firm, Electra, upped the silver coin buying premium yesterday to $5 over spot, it had been much lower over previous weeks. Senor Price knows that the instigated paper charade with silver over the past days won't hold and he is not selling his inventory at these rediculously low prices. This all means that there is support increasing for a widening price differential between the paper COMEX market and the real physical market.
Numismatically speaking, the Mexican one ounce Libertads should continue to increase in premium. The silver US one ounce Eagles that I anticipate the Mint to coin in the number of 60 million overshadows the Libertad production which is significantly less. The 2006 and 2007 Libertads mintages were well below 400,000 for each year.
Included below is a link to a silver chart depicting the beating and whipping that was handed out by the powers to be.
http://stockcharts.com/h-sc/ui?s=%24SILVER |
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| By
bluejay |
05/04/2011 6:41PM |
Here's the new increased silver margin requirements press release:
http://www.kitco.com/reports/KitcoNews20110504AS_silvermargins.html |
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| By
bluejay |
05/04/2011 6:36PM |
Gold $1516.50 DOWN $20.60
Silver $38.93 DOWN $ 2.73
The suspected meeting that took place over last weekend in an attempt to beat down the gold and silver prices has temporarily succeeded.
The COMEX continues to increase the margin requirements for their 5000 ounce contracts with an another increase after the close today to be followed by another for the following Monday. It's quite apparent that the Exchange is saving itself from implosion as the amount of blood letting from the two prominent shorts was very near to their expiring with silver approaching $50 an ounce last Friday.
The Exchange is basically saying that they are attemting to save the smart buyers or the public from themselves. Hogwash! They are saving the banks from their arrogant stupidity!
It is amazing how these disdainful people consider only their own skins and those of their connected comrades.
What the course of these events will establish is a widening price market for the COMEX paper silver market with the physical market. I purchased a couple of rolls of the silver one ounce Canadian Maple Leafs at the spot price of $39.50 plus the $3.50 premium and tomorrow I'll be in Cabo buying the Libertad one ounce silver coins again.
Keep it coming boys, I'm buying for my future and in the proces trading in fiat bills. As Jim Sinclair has stated, become your own central banker. |
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| By
bluejay |
05/03/2011 6:36PM |
In current after hours trading:
Gold $1534.50 DOWN $11.10
Silver $41.00 DOWN $3.38
There is no question to my mind that this continuing weakness is an extremely organized effort to break people's confidence in these metals. Also adding insult to injury, the hedge funds are flooding the marketplace with sell orders of gold and silver related companies in an attempt to flush them down the drain with their increased naked shorting. It's fairly obvious that regulators and their bosses like this attempt to hose the American public and others, separating them from a portion of their wealth while both remain lost for intelligent ideas to fix the mess they have created for all of us.
This paper party selling event started as the Comex was on the verge of financial implosion as the result of the billions and billions of dollar losses by two members, J.P. Morgan and HSBC, who were very near to default on their millions and millions of short silver ounces that they could not deliver.
Their overall plan began in the past few weeks when the hedge funds started leaning on the precious metal shares. Their game, which has been profitable for them so far, has been buying gold bullion and selling the related stocks.
The ratio to these two is currently 7.31 which is the XAU Index divided in gold's price. Some few years back the normal trading range for this ratio was 3.0 to 6.0. In other words, the 6.0 level was a buy level and the 3.0 level was a sell area. In mid-summer to October of 2008 all this changed.
This was the period when three major US banks massively poured large amounts of naked short contracts into the gold and silver commodity markets collapsing prices and scaring everyone that had an interest into a state of shock. During this period gold and silver related stocks were also naked sold short in massive amounts tanking them and pushing the ratio into an all-time high area of just over 11.00 which, again, which was arrived at by dividing the XAU Index into gold which equaled a little over 11.00.
Recent resistence on the ratio chart has been in the 7.50 area. It remains to be seen how serious the dark side is interested in or capable of further damage in pushing both the metals and shares farther down but one thing is for sure, the successful and well known gold analyst, Mr. Jim Sinclair, has recently stated that the hedge funds are on the verge of being roasted alive with their massive amounts of precious metal related stock naked short positions.
Bob Chapman has said, you buy and you hold both the metals and the shares and disregard these swings. He further states, gold and silver and the shares are the best home for your funds today.
These quick downturns are normal events during bull markets. Envision looking past current events to a time when the bull markets in both resume with the establishing of all-time highs again.
Past and current actions by the Fed makes investing and standing tall during this period with your positions a no-brainer.
Check out the Gold/XAU ratio chart:
http://stockcharts.com/h-sc/ui?s=%24gold%3A%24xau |
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| By
bluejay |
05/03/2011 9:37AM |
Here's an hourly chart on silver for about the past two days.
It just shows what these arrogant trickers are capable of on a daily basis.
Did you know when gold exploded in price in 1979 there were, overall, more down days that up days? Think about it.
I'm heading down to Baja Thursday from Pescadero to buy some more silver Libertads from Hugo Salinas Price's Electra store.
http://www.kitco.com/charts/livesilver.html |
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| By
Rick |
05/02/2011 6:52PM |
We actually dicussing gold "down" to $1561.60/ozt"
Ten years ago, the chalk-board in the Original Sixteen to One Mine corp office had daily tracking gold-price figures 300++% below the current value...
I remember, with miners underground, when $gold/ozt crossed $300 the smiles around and the optimism abounding.
Gold is still inside.
Will, PLEASE, the Regulatory Crappers release the backs of the free enterprise rist-takers, the miners of the most valuable rising natural asset in this State?
I have a huge smile inside. |
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| By
bluejay |
05/02/2011 10:35AM |
Gold $1561.60 DOWN $4.10
Silver $46.51 DOWN $1.43
It strongly appears the miscreant council met over the week-end and set-up a market plan to tame the recent strength of the precious metals, especially silver.
Actually, it's their long string of failed campaigns that is most comical of all.
How desperate these men, or wowen, are. They are like arrogant high school students hacking into the school computer in hopes of changing their grades just because they don't like them, forget about what they were really entitled to in the first place.
Martin Armstrong has stated that the real reason gold moves up and down during periods of time is based on how comfortable and uncomfortable the people relate to their leadership. When funds are drawn out of government securities and placed into gold, the new gold buyers usually get punished by the Plunge Protection Team.
The miscreants during late Sunday got into the thinly traded Globex market and smashed every silver bid in town, all the way down to about $42.20, the gold price was also impacted. Silver was down about $5 an ounce in minutes, gold was off as much as $35 from its earlier opening highs of $1577.
All this is done to freighten you out of your gold and silver and to dissuade you from ever thinking of getting into these metals when in fact, you need to be in them.
Forget about these engineered price swings, your family's future will be in holding ounces of gold and silver. Your real wealth is how many ounces of each your assets can be turned into. |
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| By
bluejay |
05/02/2011 9:41AM |
Martin
Stephen Leeb would agree with you: he said some months back that he expected copper to increase in price tenfold. |
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| By
martin newkom |
04/27/2011 3:49PM |
I heard today that copper is the
next gold. |
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| By
bluejay |
04/24/2011 10:12PM |
Silver going crazy as it approaches $50 an ounce.
Gold $ 1518
Silver $ 49.70 UP $3.09 |
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| By
bluejay |
04/22/2011 7:24PM |
Gold $1507.70 UP 3.00
Silver $46.68 UP $0.07
Check out Bob Chapman's comments from 4-21-11 at:
http://bobchapman.blogspot.com/ |
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| By
bluejay |
04/20/2011 8:00AM |
THAR SHE BLOWS...
Gold breaks $1500
Silver breaks $45 |
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| By
bluejay |
04/16/2011 8:54PM |
Rick
Great analogy and thanks for your kind words.
The following is from silver-shortage.blogspot:
"Silver to become a rare earth metal , it is Extremely undervalued. Silver to become extinct by year 2020 according to geologists only 300 millions ounces left! Silver is consumable industry metal it is used up : 95% gold ever found is still around 75% of silver is a by-product of mining other metal only 25% is primary product of mining, in 1480 the price of one ounce of Silver was equal to that of Gold, Low supply, high demand Price to skyrocket get your silver and stay long!" |
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| By
Rick |
04/16/2011 8:18PM |
Bluejay has been right so far, with a long respectful track record.
When a vendor shows up in a fancy (yet empty) gypsy caravan wagon selling cure-all snake oil, with a good spin and theatric therapudic presentation, some people even pay their money up front (Fed taxes) before the empty wagon sprints away, leaving dust behind. These bewilderded believers will wait, and wait (some even make presentations in the Senate) for the pay-off, and eventually those who have financed the biggest group who put their money up for a real-deal-collective-purchase-from-the-snake-oil-seller-of-cure-all-from -the-gypsy-caravan-wagon will still pretend that there is a payoff (again, the Senate)...because the very people who sent them their believe there is a cure....
THEIR payoff is still viable: voters who believe in the snake-oil remedy.
Meanwhile, the wagon is skipping down the road.
Who is left holding the bag? |
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| By
bluejay |
04/15/2011 8:38PM |
Just heard Bob Chapman state the following tonight on an Alex Brown interview from earlier today:
"The U.S. government is using the hedge funds to naked short the gold and silver stocks."
It is good to remember that the markets are smarter than governments and, or, anyone.
The gold and silver shares will soon be in the front page section of the business news when they quickly explode in price out of the blue, it is coming. |
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| By
bluejay |
04/15/2011 3:59PM |
Gold $1486.40 UP $10.60
Silver $43.05 UP $ 0.87
Martin Armstrong says there is no strong correlation between gold and inflation, contrary to what we are exposed to in the media.
Mr. Armstrong states that gold rises as public confidence in government lessens. Currently, the trend is towards investment in the private sector and away from the public sector.
One only has to read Matt Taibbi's "The Housewifes of Wall Street" to understand why people have had it with government. Ben Bernanke, again, gets the finger pointed at him, as he should.
http://www.rollingstone.com/politics/news/the-real-housewives-of-wall-street-look-whos-cashing-in-on-the-bailout-20110411 |
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| By
Magnum44 |
04/15/2011 9:04AM |
| $1,485 and rising, AG approaching $43/oz. AU and AG are supposed to be HEAVY metals but act like helium - up, up, and away in my big balloon. Cheers! |
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| By
bluejay |
04/14/2011 1:27PM |
Gold $1474.10 UP $16.70
Silver $42.08 UP $ 1.42
Marc Faber recently stated that Ben Bernanke of the Fed is murdering the middle class.
Protect your wealth by exiting the weakening dollars into gold and silver. |
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| By
bluejay |
04/13/2011 9:11AM |
Gold $1455.10 UP $1.40
Silver $40.36 UP $0.25
Bob Chapman Explains The Silver Short Squeeze
http://goldbasics.blogspot.com/2011/04/bob-chapman-explains-silver-short.html |
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| By
bluejay |
04/12/2011 11:06AM |
Gold $1453.60 OFF $9.60
Silver $40.12 OFF $0.10
This afternoons Shadowstats.com newsletter continues to blame the Fed for its continuing dollar debasement although few in the media have the nerve to do so. The financial wealth of the middle class, especially, is being systematically destroyed by a private corporation controlled by foreign banks which the Fed is. Bob Chapman states all the financial misery that has been brought to us by Greenspan and Bernanke was all planned well in advance.
Mr. Chapman, also, states that if your're not holding gold and silver you are nuts. He says people with money in bank, outside of your monthly operating expenses, need to have their heads checked.
Bob Chapman says the only way to protect yourself against this(the Fed) is by owning gold and silver and the gold and silver companies.
Just listened to an interview of Ted Butler the other day with one of Ted's comments quite startling, "The price of silver in going into the solar system." |
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