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

[shinnosuke]

And just like that, we're under $22

[blackrabbit]

Wow, Friday morning smackdown! I've heard of these before.

[Copper Catcher]

Ohio Precious Metals, OPM 10 oz Silver Bars are available for $0.89 over spot per ounce in any quantity!

http://www.providentmetals.com/opm-10-o ... r-bar.html

Is it a good time to pull the trigger on a few of these?

[theo]

If you are confident of delivery, sure. The lower we go the more serious the supply problems will be.

[xippi]

Ohio Precious Metals, OPM 10 oz Silver Bars are available for $0.89 over spot per ounce in any quantity!

http://www.providentmetals.com/opm-10-o ... r-bar.html

Is it a good time to pull the trigger on a few of these?

free shipping , hard to go wrong. if you have Patiance

[neilgin1]

And just like that, we're under $22

its all rather odd, when you look at the rest of the list.......equities, much higher.....dollar, nominally higher, with both and euro down, crude higher.

this has just been a rather odd year, at least the first half....and the second half?...to me, bears promise of being even MORE strange.

you doing anything?....buying?...selling?....just watching?....i'm talking physical now...not futures.

there are two interesting "trades"...just to watch, setting up right now...in both the Upper Midwest HERE, and in the cornbelt to the west, specifically Iowa....we are ALMOST at the point of "too much" rain. You can say "that's not possible"....but I have vivid memories of 93. Guys can price out drought ravaged crops, they have trouble with flood ravaged crops...this MIGHT the case, so what you want to watch is the spread, July 14 Corn over Dec 14 corn.....you buy July14 corn and sell Dec 14 corn on one order, as a spread....I started tracking it when July was 11 cents over Dec, that's 2014 corn, not 13...today its trading at July 16 cents over Dec....same spread, for 2013 is trading July $1.10 over Dec13.....back in 2012, last year, right around July 12, when the drought became apparent, I had been watching the July 20 cents over Dec...and that traded up to July 13 $1.40 0ver Dec13....that's a LOT of profit for a corn spread.
this one, July14 corn/Dec14 corn...july 16 cents over?...you might get it July 35-50 cents over.....then the harvest starts, you get the Nov crop production report in?....watch....GMO corn is a whole new animal...in Nov 13, you might see the high in that spread.....it's pretty neat to watch. Grain trading is "pure"......it would be VERY difficult to manipulate....cash grain trading is probably one of the most interesting and fulfilling vocations (lifestyles) left to our children. I have been steadily encouraging my son, to submit to Cargill's summer internship program. Cargill, in my estimation is one of the few outstanding American companies LEFT, and if he has the stones and sharps, by 30, he could trading in the Geneva Switzerland office of Cargill....which is a whole lot better than pouring coffee at Starbucks, or saying "Hi, welcome to WalMart".....so that's something, you other fathers might want to look into.

the other trade is buying Dec Minn Wheat (spring) over selling Dec KC (winter) wheat....I started watching that one at Minn 20 cents over KC, Dec/Dec...now its 53 cents over, so that's a nice profit....I thought it could go Minn a dollar over...in wheat, PROTEIN is the ballgame, the higher the protein, the more valued the wheat.

be blessed Shinn....I hope you still aint cross with me about my creative writing exercise of the past...talk to me babe, neil

[theo]

21.69. . . we'll see if 21 holds this time.

[neilgin1]

21.69. . . we'll see if 21 holds this time.

today...or Mon....coz they're done today.....Monday and next week, the mkts gonna gun for the 20 dollar level, and take it out.....fishing for stops.

[shinnosuke]

neil, I told you I was not angry. Stop bringing it up.

I'm in watching mode, except for a few minor pick-ups. Will stay that way for just a while longer.

He's got no street cred here, but Larry Edelson has switched his tune. He says that we are almost, at long last, at the point where everyone should jump back into precious metals. What is the definition of "almost?" He doesn't say. I can't either, but I'm just the black hole of precious metals and never paid attention to what the doom and gloom crowd or the Buy Gold! gang said anyway.

[68Camaro]

I've long ago resigned myself that try as I might I'll never be able to time a manipulated market very well (and I believe it is such - regardless of who, how, or why it is manipulated) so I just buy. Obviously if I had known for certain during the period from 2010 to now that we would survive until now with current prices and be able to buy as much physical as my pitiful funds allow, I would have saved all my funds expended over that period until now (or whenever it hits a true local bottom) and bought the whole lot now. But I can't do that. So instead, I buy when "low", but I buy even when it's high - because I feel like I never know for sure when I'll have to stop buying. On average I'm underwater with regard to silver, but I'm still roughly even with regard to gold. Overall, tolerable, given the state things are in.

[InfleXion]

I'm in the same camp as Shin and Camaro. I bought silver to protect myself from the financial system and counter party risk, and to have hard money in hand that I need not worry about going up in a puff of smoke. I bought at 10, I bought at 45, and I'm buying today. I'm not trying to make money because fundamentals don't matter in bizarro world, so as much as I feel the price is severely undervalued I would fail miserably trying to time the right buying and selling in the short term. However due to the fundamentals I am confident buying at any price until we have a new monetary system. If we don't get one then at least I have something tangible to retire on. Even if I lose money on it, it's still money that I didn't spend on other things, aka my savings account.

[adagirl]

I'm in the same camp as Shin and Camaro. I bought silver to protect myself from the financial system and counter party risk, and to have hard money in hand that I need not worry about going up in a puff of smoke. I bought at 10, I bought at 45, and I'm buying today. I'm not trying to make money because fundamentals don't matter in bizarro world, so as much as I feel the price is severely undervalued I would fail miserably trying to time the right buying and selling in the short term. However due to the fundamentals I am confident buying at any price until we have a new monetary system. If we don't get one then at least I have something tangible to retire on. Even if I lose money on it, it's still money that I didn't spend on other things, aka my savings account.

Well said! I agree, and add me to the camp. June tends to be the historical low for metals. At the end of the day we hold PMs and the rest hold paper. Need I say more?

[TwoPenniesEarned]

As a external basis for valuation of silver, the other day I was at a garage sale and bought a brand new unopened "Superwinch X3". The fellow had been a hunter but never mounted it to his truck. But I searched "Superwinch X3" and noticed they sell new for $700 with the featureset of this winch, so I bought it for his asking price of $175 no questions asked. When I got it home I opened the box and noticed his receipt. It was 22 years old. And the receipt was for $270. So something that costs $700 today brand new for an identical item cost only $270 in 1991. It really puts our inflation into perspective. I love stuff like that for getting a grounding in reality. It's so hard to peg value to anything when everyone expresses it in dollar price.

[Jonflyfish]

As a external basis for valuation of silver, the other day I was at a garage sale and bought a brand new unopened "Superwinch X3". The fellow had been a hunter but never mounted it to his truck. But I searched "Superwinch X3" and noticed they sell new for $700 with the featureset of this winch, so I bought it for his asking price of $175 no questions asked. When I got it home I opened the box and noticed his receipt. It was 22 years old. And the receipt was for $270. So something that costs $700 today brand new for an identical item cost only $270 in 1991. It really puts our inflation into perspective. I love stuff like that for getting a grounding in reality. It's so hard to peg value to anything when everyone expresses it in dollar price.

And to think silver hasn't reached any inflation adjusted all time highs over an even longer time period 1980). Good thing wage inflation has.

Cheers!

[johnbrickner]

Cargill, in my estimation is one of the few outstanding American companies LEFT, and if he has the stones and sharps, by 30, he could trading in the Geneva Switzerland office of Cargill....which is a whole lot better than pouring coffee at Starbucks, or saying "Hi, welcome to WalMart".....so that's something, you other fathers might want to look into.

Wise words, well taken.

Thanx Neil.

[shinnosuke]

See this: http://www.zerohedge.com/news/2013-05-1 ... iquidation

I always thought Europe would go first, but Japan may be the canary in the mine. Prime Minister Abe is a dark, nefarious man.

Thursday saw Japan's Nikkei 225 (^N225) benchmark drop another 6.4%. The loss is the equivalent of nearly 1,000 Dow points. The Nikkei has lost more than 1/5th of its value since May 23rd. A 20% drop fits the technical definition of a Bear Market but don't be fooled. The Nikkei isn't slumping into bear territory. It's crashing.

Japanese stocks are collapsing despite active and massive intervention by its Central Bank. The Nikkei has now given back all but a fraction of the explosive gains made in the wake of Bank of Japan Governor Haruhiko Kuroda's public commitment to do whatever it takes to jump start the world's third largest economy.See the entire article here: http://finance.yahoo.com/blogs/breakout ... .html?vp=1

Silver is down. Dollar is down against the yen and the Euro. The Fed has destroyed any opportunity for the normal saver to put money in a bank and earn a return at a decent interest rate. Where will the smart money go in its perpetual search for yield?

[InfleXion]

This feels awfully reminiscient of 2008 to me with the difference being that the Fed is out ahead of the freight train and pumping up key indices accordingly. Gold and silver got whacked, leverage is back at new all time highs, and the only markets doing "well" are those benefiting from money printing. As long as that continues there probably won't be an electronic run on the banks like we saw before, but there is only so much effectiveness to money printing. Japan which has been at it longer than us is the model to look forward to IMO, but in the meantime US markets will probably be the beneficiary being the greener pasture comparatively. Of course I am a permabull and will buy metal at any price, but I do feel that now is the time to back up the truck. We have been consolidating a while now in the low 20's and the only way I can see additional downside is if US markets tank on the whole which could happen, but if it does there's no guarantee that things will return to normal either so I have always felt it's better to pay a little extra to secure a position than to wait and possibly miss the boat.

[68Camaro]

This feels awfully reminiscient of 2008 to me with the difference being that the Fed is out ahead of the freight train and pumping up key indices accordingly. Gold and silver got whacked, leverage is back at new all time highs, and the only markets doing "well" are those benefiting from money printing. As long as that continues there probably won't be an electronic run on the banks like we saw before, but there is only so much effectiveness to money printing. Japan which has been at it longer than us is the model to look forward to IMO, but in the meantime US markets will probably be the beneficiary being the greener pasture comparatively. Of course I am a permabull and will buy metal at any price, but I do feel that now is the time to back up the truck. We have been consolidating a while now in the low 20's and the only way I can see additional downside is if US markets tank on the whole which could happen, but if it does there's no guarantee that things will return to normal either so I have always felt it's better to pay a little extra to secure a position than to wait and possibly miss the boat.

To date, we seem to think enough alike that I've been able to reduce my posting load... Thanks for the help!

[InfleXion]

So what are you hoarding now that I've freed you up a bit?

[Rodebaugh]

Silver is a smidge over 22...and I aint changing the title until monday close.

[Mossy]

As a external basis for valuation of silver, the other day I was at a garage sale and bought a brand ....

Per the official inflation at http://www.usinflationcalculator.com/ :

1991, $270
2013, $461

Actual cost 2013 $700

"Official" inflation... (ahem)

[Mossy]

I've long ago resigned myself that try as I might I'll never be able to time a manipulated market

Just figure it will be whatever is most inconvenient. (grrrrr)

[68Camaro]

Oz speaks, therefore the PM market MUST tremble before him...

[shinnosuke]

Oz speaks, therefore the PM market MUST tremble before him...

Coinflation.com quote right now: 1946-1964 Roosevelt Dime $1.5567

Oz speaks tomorrow, right? Are we getting slammed today on the fear that tapering is not just for candles any more?

[Engineer]

Oz speaks, therefore the PM market MUST tremble before him...

Coinflation.com quote right now: 1946-1964 Roosevelt Dime $1.5567

Oz speaks tomorrow, right? Are we getting slammed today on the fear that tapering is not just for candles any more?

The markets are simply reacting to the oracle's call for $15 silver and $1000 gold.