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the chap 11 of MF Global could a Lehman moment. i been talking to a few of my friends, guys with bolls and they are terrified, volumne in everythinh has been halved today, the floor, what little it was, is a ghost town. If the "preception" is a clearing house, one of the biggest is hollow, this could be castrosphy, a bunch of dominios falling, for the first time, i'm unnerved, which is nice way of saying, i'm freaked out. For reasons tooo arcane to explain, customers fund in a clearing house were SEGERGATED. it APPEARS that MF violated this key tenet. i would urge any of my friends to rec onsider further involvement in ANY paper silver fund

http://www.zerohedge.com/news/liquidity ... -aftermath

You dont hold it, you dont own it.

AGCoinHunter wrote:You dont hold it, you dont own it.

due respect, it doesnt matter, first everything is interconnected, and secondly perception is everything. Mark my words, this is going to get out of hand.

Again, you hold it you own it. That includes your food, guns, ammo, PM's, ect. Sure everything is interconnected, exactly why the government will continue to print fiat to patch the holes in the sinking boat at taxpayer expense. MF is just the tip of the iceburg and so far is the only one to get caught all leveraged up on EU debt. There are many more in the same boat and that boat has a lot of holes. MF co-mingleing client money is sending huge waves into the sea of confidence. Have seen reports that other brokers are refusing to liquidate accounts. Neil, the question is when is this house of cards going to collapse? Hold onto what you have tightly.

neilgin1 wrote: ...this could be castrosphy, ....a bunch of dominios falling, ... i'm freaked out... i would urge any of my friends to rec onsider further involvement in ANY paper silver fund

How might the physical silver market play out in the short term under such a scenario?

pennypicker wrote:

neilgin1 wrote: ...this could be castrosphy, ....a bunch of dominios falling, ... i'm freaked out... i would urge any of my friends to rec onsider further involvement in ANY paper silver fund

How might the physical silver market play out in the short term under such a scenario?

Opinions are worth what you pay for them, and I like hearing many here to balance my thoughts out.

Gold - I think gold could have a significant blip down initially from people selling off to cover, then, after a time, a giant fast climb up as people scramble to find something safe in which to put their money.

Silver - behaves similiarly to gold, but overreacts more (could see that lower 20s number people talk about), and follows gold more slowly in the recovery up, initially, before picking up speed as people that can't afford gold get on the silver bandwagon.

Issue with both is the prices above may be semi-theoretical. In practice, it may be difficult to actually FIND physical. Supplies of coins will get sucked up, and by the time new coins get minted, the prices could well be on the rise. So unless you're able to buy 100 oz bars of gold, or 1000 oz bars of silver, the temporary sale price may be in name only to you.

Just a possiblity.

John Corzine was in the running to be tapped as the Sec'y of the Treasury by Obama. Just imagine the consequences there. There's no way he wasn't aware of the risky strategy that ultimately drove MF Global on the rocks. I understand that he still has his "goldern parachute" contract intact and stands to gain umpteen billozillions for his superb guidance.

I'm concerned about this. What I haven't figured out is whether the Greece (and subsequent Italian and Spanish) fiscal crisis is acting as the multiplier for MF or the other way around. Either way, time for a crash dive and to remain on the bottom for awhile while the world slugs it out.

I'm maintaining an even lower profile than normal and am fortifying my stash for the long haul. Tough times ahead without question. Corzine and his merry gang of dopes, oafs and ne'er-do-wells should be publicly flogged by a band of those people who have lost vast amounts of money due to his ineptness.

I don't think this rippling effect has made its way around the globe yet. Too many Europeans and those in the Far East are too distracted by the events in Greece to notice that their left arm has been severed overnight.

I just don't know anymore what the future holds for my family and me. That's why I have to exercise as much control as possible to drive the outcome to what I want. Buckle up, Mates and rig for depth charges.

Well... I added another 28 oz's this week... Hopefully my weekend efforts will pull more. Why anyone would even think things are "OK" is beyond me. Almost 49 million on food stamps, the foreclose arena is a mess and unemployment well, let’em keep lying; we know what it really is. I feel like digging a hole and not stopping.

Yeah, I'm a little scared, too. But, then I am thinking about the silver lining around this black cloud. If you have all your wealth into things that will go up as fiat markets crash... this is a good thing, right?

$10,000 in nickel could be worth 10x, 100x, 1000x in the new currency, once it comes out.

Time to move 60 miles from town. Last prep I need is a good piece of land to build the bunker on. Oh, and lots more copper, nickel, silver, gold, and lead!

68camaro,

Thank you very much for taking the time to specifically reply to my question regarding physical silver. I am just a meat & potatoes level saver of physical silver and I don't involve myself with ETF's etc. Not that well educated either in how the stock market works or in the terminology used by floor traders such as neilgin1.

So when I start hearing words like catastrophic being used to describe the short term it compels me to listen to all that everyone on this board has to say about it--especially the words of such a respected and knowledgeable person as yourself. Thanks again for your insightful response.

pennypicker wrote:68camaro,

Thank you very much for taking the time to specifically reply to my question regarding physical silver. I am just a meat & potatoes level saver of physical silver and I don't involve myself with ETF's etc. Not that well educated either in how the stock market works or in the terminology used by floor traders such as neilgin1.

So when I start hearing words like catastrophic being used to describe the short term it compels me to listen to all that everyone on this board has to say about it--especially the words of such a respected and knowledgeable person as yourself. Thanks again for your insightful response.

Hey Penny, i'm sorry bro for using floor terminology, i dont do it to "flash" , or show off. No. Its just a reflex. You know, when you grow up in a certain world , or country, you learn as a child to speak that language. So in the future, if i ever talk floor Chinese, dont even hestitate to ask me what that means, it would be my joy, to translate. serious man. fondly, neil

Sheikh_yer_Bu'Tay wrote:Yeah, I'm a little scared, too. But, then I am thinking about the silver lining around this black cloud. If you have all your wealth into things that will go up as fiat markets crash... this is a good thing, right?

$10,000 in nickel could be worth 10x, 100x, 1000x in the new currency, once it comes out.

Time to move 60 miles from town. Last prep I need is a good piece of land to build the bunker on. Oh, and lots more copper, nickel, silver, gold, and lead!

yeh, its gotta kinda quiet spooky like, hasnt it? i just noticed that in various physical silver products, not ebay, the basis, the area between bid and ask has widened. i watch the "nucleo exchange" on bullion direct. Reading the various newspapers, a lotta finger pointing, nothing more. looked this morning on Ebay and a few more rolls come on stream. dont laugh, but for me, this second it ISNT a money thing. i dont know how many of you guys talk to God. (dont worry, i aint one of "them", meaning if you believe, you believe, if you dont, you dont....i just try my best to love my neighbor as myself) but anyway, as i was RAMPING, one day, about a month plus ago, at a level i cant say, T'oz-wise, God told me, "thats enough for now", and almost always, (not cigs..yikes) i obey. so i stopped, and i feel comfortable with my pretend stack. Sure am i glad i got out of the futures biz in 2002 though. the whole economic rubric has gotten SO BAD, i dont trust ANYTHING paper, fiat, common stock, futures, ETF's ....nothing. If Corzine skates, thats the sign, that things have gone REALLY awry...which they have. i'm gonna start a fire now, and police up this FOB. (forward operating base...lol.....i say that thinking of my bro's in Afghanistan) neil

neilgin1 wrote:

pennypicker wrote:68camaro,

Thank you very much for taking the time to specifically reply to my question regarding physical silver. I am just a meat & potatoes level saver of physical silver and I don't involve myself with ETF's etc. Not that well educated either in how the stock market works or in the terminology used by floor traders such as neilgin1.

So when I start hearing words like catastrophic being used to describe the short term it compels me to listen to all that everyone on this board has to say about it--especially the words of such a respected and knowledgeable person as yourself. Thanks again for your insightful response.

Hey Penny, i'm sorry bro for using floor terminology, i dont do it to "flash" , or show off. No. Its just a reflex. You know, when you grow up in a certain world , or country, you learn as a child to speak that language. So in the future, if i ever talk floor Chinese, dont even hestitate to ask me what that means, it would be my joy, to translate. serious man. fondly, neil

Neil, no need to apologize at all. In fact I really enjoy reading all of your posts. Quite frankly I tune into Realcent everyday primarily to read anything you have to say as I feel you always have your finger on the pulse of the PM market. However the "floor trader" jargon leaves me in the dark sometimes but for the most part I get the drift of what you are saying.

Again no need for the apology and keep your posts coming, Don.