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Government shutdown? Well of course.... gold and silver should sell off. Makes perfect sense to me Just another excuse to hammer the price under a putative premise that some can explain as the reason PM's fell.

THERE IS NO SILVER PRICE MANIPULATION.

Silver, I hate you.

slickeast wrote:Silver, I hate you.

"ahhhh... the response that we seek," cackled the proprietary metals desk traders at JPMorgan.

I don't understand it. Stocks up, dollar and metals down. Any economic gurus out there to explain this one?

Well at least the G2SR is going back up.

It is disheartening to the weak hands. And it makes even the strong hands do a gut check - me included. But the reasons I buy and hold PMs are stronger now than they were 3 years ago. That the market can be manipulated matters only if I have to sell for FRNs so I have to ensure that I have that FRN supply continuing to come in for the near future. In the meantime, PMs remain on sale in the artificial market they have created, so I continue to buy physical at my Max safe rate.

Another way of looking at it is those of us who go long physical are also shorting cash. This can be problematic if one becomes irrationally exuberant and goes a little too far (who, me? ) occasionally on overbuying the latest dip... and finds themselves literally "short cash." You don't want to find yourself having to sell into dips to raise money for bills... so make sure you don't deplete ALL your emergency money when "opportunities" arise.

Yep, that's another way to state the same thing but in a way that makes a direct connection with a specific audience!

Don't short FRNs unless you can cover the margin calls!

blackrabbit wrote:I don't understand it. Stocks up, dollar and metals down. Any economic gurus out there to explain this one?

Well, let's say each one of the above represents a group of people: The international industrial/military complex; the government; and the people respectively. How's that for a guru answer?

blackrabbit wrote:I don't understand it. Stocks up, dollar and metals down. Any economic gurus out there to explain this one?

Due to the shutdown the CFTC is not regulating anything except for stocks.

I haven't had a gut check since 2011. After that everything seems like small moves. The next time I have one will probably either be if/when the Fed stops QE and raises interest rates, or when the USD defaults. The only thing the paper price means to me is what I can buy for. I will start caring more about it if the exchanges do away with both margin and fractional backing.

I'm on a monthly budget so I try to avoid buying PMs with my lunch money. I no longer look to the COMEX price of silver/gold to justify or refute my investment decisions. Price is only relevant is insofar as it impacts premiums and availability of what I'm looking to buy. The only numbers I'm truly interested in are 17 trillion and 85 billion and you guys know why. If you are waiting for silver to rise to $80 to $100 per ounce while the current system is still in place, you may be disappointed. I'm increasingly convinced that only a COMEX default will allow PMs to rise to their true level. Of course when that happens a currency collapse can't be far behind.

In this great game of musical chairs there are two types of people. Those worried about what song is being played and those worried about where they are when the music stops.

beauanderos wrote:Another way of looking at it is those of us who go long physical are also shorting cash. This can be problematic if one becomes irrationally exuberant and goes a little too far (who, me? ) occasionally on overbuying the latest dip... and finds themselves literally "short cash." You don't want to find yourself having to sell into dips to raise money for bills... so make sure you don't deplete ALL your emergency money when "opportunities" arise.

Words of wisdom!

slickeast wrote:Silver, I hate you.

Silver, I love you


We have a love hate relationship

I love you also.

silver wrote:I love you also.

Great! Now you guys can adopt a child in Massachusetts

Hey, I thought Cali. beat us to the punch on that one. Who are you fooling, Ray?