Silver - $27 going to Zero! Call your boss..beg for job back

[scyther]

It's still over $20... this price level isn't significant... but we're getting close to the time of year it usually declines. I think it will reach a new low again within a couple months. But how much lower, and is it worth selling anything now when prices are already this low? Not sure...

[68Camaro]

Geez folks. It's just JPM churn (with a bit of market timing due to current events on top of it).

[silverstacker]

Geez folks. It's just JPM churn (with a bit of market timing due to current events on top of it).

Thats 100% accurate. Once JPM has collected enough money (he he) it will reverse. Hence the manipulation of the PM market.

[theo]

theo, you are spot on right......I get crisis fatigue too, and wonder if i'm feasting on that mindset. Is it my imagination?...some sort of apocalyptic wetdream, because that has more DRAMA in it?......OR are things in general, getting really bad?

what do you think?

We had a good discussion about that very subject in the "Warmongering" thread viewtopic.php?f=17&t=28633. Here is one of my posts:

"I tend to think that preparing for an uncertain future can have a psychological impact on us. While nobody truly wishes for bad things to happen, we may want to feel justified in our efforts. The idea that all of our preps and investments went for nothing might be a let down; not to mention an indictment on our judgement. A few of us might even look forward to a Schadenfreude ("I told you so!") moment when all of the "sheeple" get their just desserts. However, I suspect that watching others suffer (even those who were truly irresponsible) will be much worse than we ever imagined. Furthermore, the black swan (be it war or economic collapse) can quickly get out of control and easily overwhelm even the most ardent efforts to prepare."

Take a look at the entire thread if you missed it.

[Zincanator]

I just come here to watch the thread title change with the times .

[Silverfondler]

After reading through these recent comments. I think some valuable points are made and I think some are missed. I think the big thing that everyone should be paying attention too is: Domestically, what the FED or Yellen & Co. are doing. More importantly - Watch how, when she speaks what the PM market does. Moreover, what happens (to the PM market) when they continue to taper at 10 billion a month and Yellen & Co. talk about it nationally. Watch what happens to the PM markets. What's even more interesting is in recent events watching what the stock markets do after Yellen & Co. speak. They use to rally as PM markets fall. Now both fall...

People, you are obviously free to think how you want. But remember if these people want you looking in other directions - they are good at doing so. (Ukraine/Russia, etc). Meanwhile, what are they doing over here that is barley noticed. I am not suggesting a conspiracy theory or anything like that. Just suggesting there is an awful lot of media attention on the other side of the world right now. When we have, what I would call larger than life problems right here domestically - specifically in our economic system. Stop for a moment and focus on where the real problem is...

Having said that, what seems to me that is happening with the PM markets. Specifically, Silver (Silver is what I pay most attention too). Every month we taper by 10 billion Silver will be going down momentarily in value. Especially when Yellen & Co. Speak about how great the dollar/market/workforce/blah/blah/blah is doing. Thus this creates an illusion that the dollar is getting stronger and the economy is "fixing" itself. Meaning the PM are suppressed even further, because there "value" is close to the "value" of the USD. When in fact the exact opposite is true - good illusion though, right? Even with the, "churns" of JPM. They cannot keep the PM markets elevated; what they can do is manipulate it by a few dollars up and down (short/long positions for them) for them to make money on their specific positions they take on the PM markets.

End of the day - I think we are going to have a real opportunity in the summer months/early fall for purchasing PM. And, this could quite possibly be the last time their is such an opportunity available. This is all assuming that Yellen & Co. follow suit of continuing to taper at 10 billion a month. The current rates across the board stay close & we do not break out into a world war. Just my 2cents!

Have a great day!

[68Camaro]

I think you're reading things correctly. Parts of the market do react to Yellin, et al. I don't rule out another crush down. If it does, I'll buy more. The bottom-line strategy remains the same - stay with hard assets.

Long-term I don't believe Yellin can do anything but print. She may restrict in the short-term, or may print via an undocumented back-door, but over the long-haul the money supply needs to continue to be pumped in in order to retain stability of the system.

[Rodebaugh]

Look out Below!!!!

[InfleXion]

While it would feel nice to be vindicated, it feels nicer not to have a nation in utter distress. I'd rather be wrong than right. I never stacked with the mindset of making money. It's all about the bird in hand. The peace of mind in knowing that I hold the cards is worth more than any profits. I don't trust the talking heads, the banks, or the watchers, and I wouldn't have it any other way. If I lose money on the investment it's still money well spent as far as I'm concerned. If it grows my wealth that's just a welcome byproduct of securing my freedom. Silver has always been a longterm play. It likely won't be until the monetary system runs its course that we may see appropriate revaluation.

As to the original topic, I wouldn't be surprised if we were approaching another Lehman moment. Chinese shadow banking defaults are an increasing occurrence, and their money printing dwarves ours, yet they are driving force of global economic growth. People are running on the banks there just because of rumors. Copper is tanking and is usually a leading indicator. Leverage is at all time highs. Stocks and bonds are at all time highs. Price to earnings ratios are telling us that equities are extremely overvalued, as to be expected with all the free Fed money.

I read today that 26% of our taxes go toward paying interest alone on the national debt, which doesn't even address the actual debt that continues to grow. This number will only grow as we continue down the path of socialist fascism.

This can go on for as long as foreign nations are willing to buy our debt, and there is a lot of speculation that the Russia/China summit in May will sow the seeds to circumvent the USD as the world reserve currency now that we have poked the bear with the Ukraine coup, and taken their gold.

I am expecting the price to go lower before it goes higher, with a buying opportunity on the horizon, but I would first get my house in order because I am wary about what this and next year holds for global markets as the wheels of change seem to be turning East. That being said, silver is very unpopular right now and I think anything under $20 will be seen as a steal in the years to come.

[rsk1963]

coinflation has gone to plaid... silver is "1305.77" per ounce right now according to the price chart and is just amazing to see.

$73+ for a war nickel

[rexmerdinus]

coinflation has gone to plaid... silver is "1305.77" per ounce right now according to the price chart and is just amazing to see.

$73+ for a war nickel

May the Schwartz be with us!

[Oakair]

I bought calls in ZSL. Lets take a dive guys

[henrysmedford]

From--http://www.nasdaq.com/article/gold-silver-higher-ahead-of-us-adp-jobs-report-cm340764

Gold, silver higher ahead of U.S. ADP jobs report



Investing.com -

Investing.com - Gold and silver prices edged higher on Wednesday, as investors looked ahead to key U.S. data later in the day for further indications on the future course of monetary policy.

On the Comex division of the New York Mercantile Exchange, gold for June delivery held in a tight range between $1,278.80 a troy ounce and $1,284.90 an ounce.

Gold last traded at $1,283.20 an ounce during European morning hours, up 0.25%, or $3.20. Prices fell to $1,277.40 an ounce on Tuesday, the lowest since February 11, before trimming losses to settle at $1,280.00, down 0.3%, or $3.80.

Gold futures were likely to find support at $1,273.70 a troy ounce, the low from February 11 and resistance at $1,299.30, the high from March 31.

Meanwhile, silver for May delivery jumped 0.96%, or 18.9 cents, to trade at $19.87 a troy ounce. Silver ended Tuesday's session down 0.32%, or 6.4 cents, to settle at $19.68 an ounce.

Silver futures were likely to find support at $19.62 an ounce, the low from March 28 and resistance at $20.01, the high from March 31.

The U.S. is to release the ADP report on private sector job creation in March later in the session. The report comes ahead of Friday's monthly government jobs report that is expected to show a gain of 197,000 new jobs in March.

Gold and silver have been under heavy selling pressure in recent weeks as upbeat U.S. economic data underlined expectations that the Federal Reserve will begin to raise rates sooner than previously thought.

On Monday, Federal Reserve Chair Janet Yellen said that there is still room for the central bank to help the economy and reiterated that the Fed's commitment to economic stimulus will still be needed for some time.

Elsewhere on the Comex, copper for May delivery rose 0.72%, or 2.2 cents, to trade at a three-week high of $3.055 a pound following an earthquake in Chile.

Chile is the world's biggest producer of the red metal, providing almost a third of the world's supply.
Investing.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

[Rodebaugh]

$19.24

[NDFarmer]

We are back to $19.00 silver again. I don't watch the charts but for you guys that due where is the next big resistance line on the downward side I think someone said it was around $18.00 if we were to break through that then where would be the next major line of support?

[beauanderos]

talk about your reversals!!!

[angel2004]

I haven't posted lately, but the price surely has been low.

[blackrabbit]

Good to see a little bump this morning instead of the continued grind down. We shall see if it lasts the day. I keep wondering when the market will reverse, but I would not doubt the grind will continue a while yet. However, at under 20 there is a lot of cool silver out there that looks cheap.

[cooyon]

Another day to stack!!!

[pennypicker]

We are back to $19.00 silver again. I don't watch the charts but for you guys that due where is the next big resistance line on the downward side I think someone said it was around $18.00 if we were to break through that then where would be the next major line of support?

In the past year on several occasions silver attempted to bust through the $19 support level and was only able to break through a couple times with one being at $18.80 and the lowest being $18.50. $18.50 seems to be a major support level.

[neilgin1]

While it would feel nice to be vindicated, it feels nicer not to have a nation in utter distress. I'd rather be wrong than right. I never stacked with the mindset of making money. It's all about the bird in hand. The peace of mind in knowing that I hold the cards is worth more than any profits. I don't trust the talking heads, the banks, or the watchers, and I wouldn't have it any other way. If I lose money on the investment it's still money well spent as far as I'm concerned. If it grows my wealth that's just a welcome byproduct of securing my freedom. Silver has always been a longterm play. It likely won't be until the monetary system runs its course that we may see appropriate revaluation.

As to the original topic, I wouldn't be surprised if we were approaching another Lehman moment.

Flex....gosh, .....I feel the same, EXACTLY. I WANT to be wrong, so desperately I cant even communicate it properly. I don't WANT to be "vindicated", i'm hoping against hope, my stack stays undisturbed so my boy gets it, when I go.....the thing that gets me is, EVERY institution I was brought up to TRUST ...has shattered that trust. And you just cant glue those pieces back together again. you cant. i'm red and white and blue all the way, but i'm NOT going to be a "good german" and drink the kool aid, that's says we're "exceptional".

naw, those days ended on 22 Nov 1963......here's the America I remember and treasure, one of my MOST favorite films, "The Best Years of Our Lives (1946)
Makes me yearn for those days, i'm going to tack three scenes up, with the fervent wish, your hearts get as warmed as mine when I watch, and think about WHAT WAS:

[johnbrickner]

Neil:

Thank you for the post. The emotions elicited cannot be expressed in words. Touched my heart, an understatement.

John

[SilverStateGOP]

I too am tired of being yanked about by doomcriers, both actual and synthetic. I'm also not enthused at the jackals waiting for the charnal to cool, that they may feast... some of whom are both here and on BS.

The above movie is before my time, I've not seen it in its entirety, but I have the second hand sentiment from a father who sat in a tank and ground his teeth as 500 yards ahead of him a scar was built on the human soul, in the concrete and steel of the Berlin Wall... and the jubilation he exercised afterwards at its far too long awaited downfall.

These past miserable five years I've watched those same forces at work. Not building, but destroying. And if my small seeming ways to fight are to buy something they cannot readily debase, the so be it.

The clip I'm posting will anger a few. Again, so be it. The truth smarts, now and again.

http://youtu.be/VMqcLUqYqrs

Auf die Frage zu antworten: Nein, nicht 'genug'. Wenn irgendetwas, zu viel ... großlich viel zu viel.

SSGOP

[neilgin1]

Neil:

Thank you for the post. The emotions elicited cannot be expressed in words. Touched my heart, an understatement.

John

Thank you Johhny....that's the tough thing this internet, you can tell who you'd hit it off, be pals, enjoy some burgers with, sitting on the porch, having a bull session....but we're all so afar away.

Still, anytime I can post something, that will touch a heart?...priceless. Bless you brother, neil

Silverstate, you didn't offend me with that. My son, 18, turned me onto that series coz he said that speech and the character reminded him of me, which is an honor, when "Bill MacAvoy" reminds your boy of you. I think we should post the full scene, becoz it gives the whole context of the reason he said what he did..what ya say?....best to you, neil

[Mr Paradise]

naw, those days ended on 22 Nov 1963......here's the America I remember and treasure, one of my MOST favorite films, "The Best Years of Our Lives (1946)
Makes me yearn for those days, i'm going to tack three scenes up, with the fervent wish, your hearts get as warmed as mine when I watch, and think about WHAT WAS:

Ended way before then, WW2 was a big gigantic lie also ...do you think Hitler built the most powerful war machine out of the ashes of WW1 by selling his watercolors? The International banking cartel pulled the strings during the "Best years of our lives". I won't even bring up the Luitania incident, USS Maine, Woodrow Wilson and the Federal Reserve and League of Nations, Log Cabin Abe's destruction of states rights during his war of aggression against the southern people.

..it is a good movie though.