The churn continues

[68Camaro]

Looks like the working of the market at the $20/$1250 level is going to continue to cycle. I'm not quite ready to start cycling myself in paper to follow their antics but it's starting me to consider it again.

[beauanderos]

Looks like the working of the market at the $20/$1250 level is going to continue to cycle. I'm not quite ready to start cycling myself in paper to follow their antics but it's starting me to consider it again.

I missed the mini-cyclic top (to buy DSLV)... now I've placed another lowball bid on USLV at $42.90. Considering how they like to turn slams into precipitous waterfalls I may just fill it today... or tomorrow.

[neilgin1]

Looks like the working of the market at the $20/$1250 level is going to continue to cycle. I'm not quite ready to start cycling myself in paper to follow their antics but it's starting me to consider it again.

its a farce.....I can smell the desperation in the air...the only reason they can pound the board with such reckless abandon, is that they KNOW, when it comes time to pay the piper......they'll just call a "force majeure"...and shut down the exchange.

if I just had even $5k free and clear right now, i'd spend today, Friday and the whole weekend, blowing everybody away in the 90% market on Ebay (at least $5k's worth)....but I don't, unless I wanna be stupid and buy on credit...lol.

little grey men, all "sons of Alexander Hamilton" are ruining this country!

[InfleXion]

To me you can't put a price on freedom, and that's what metals provide; freedom from the hidden tax of inflation, from being at the mercy of financial institutions to access things you supposedly own, from counter party risk, and from the systemic risk of a fundamentally flawed and corrupt (lawless for those who can afford it) system which will have no sting for those of us who are prepared. I don't care what the paper price says, I'm not selling my safety net out of fear or greed. Those feelings are what motivates the herd, and you can't stay ahead of the curve by giving into them. I am lucky because (let's face it, we can't really choose our desires, merely how we act upon them) my motivation is and has been security, and nothing that happens can change the intrinsic properites of metals that attracted me to them.

[68Camaro]

The primary context was paper PM.

[johnbrickner]

<snip> little grey men, all "sons of Alexander Hamilton" are ruining this country!

Well Said Neil!

[theo]

To me you can't put a price on freedom, and that's what metals provide; freedom from the hidden tax of inflation, from being at the mercy of financial institutions to access things you supposedly own, from counter party risk, and from the systemic risk of a fundamentally flawed and corrupt (lawless for those who can afford it) system which will have no sting for those of us who are prepared. I don't care what the paper price says, I'm not selling my safety net out of fear or greed. Those feelings are what motivates the herd, and you can't stay ahead of the curve by giving into them. I am lucky because (let's face it, we can't really choose our desires, merely how we act upon them) my motivation is and has been security, and nothing that happens can change the intrinsic properites of metals that attracted me to them.

Well said sir!

The value of the dollar is supported (and inflated) by the whims of corrupt men. The value of PMs is backed by nature itself.

[everything]

Lol, also backed by digging really big frickin holes in the ground to pull the metal out in super massive quantities, exchanging the metal for currency paper, into large holdings, that are sold as tranches into the commodities market, and ETF/ETP.

[beauanderos]

Well, my buy order on more USLV never materialized, so I started sniffing around DSLV (triple inverse silver). Was able to fill my order for 66 shares at $48.91 when it spiked earlier... now reading around $52.00

Now if they do their typical crap maybe I can pick up a quick small profit in three days, then sell and look for another entry point. Gotta make money off the banksters one way or another

[68Camaro]

etc, etc. They're doing a great job at keeping it range bound between 19 and 20 (AG) and 1200 to 1250 (AU).

How long can physical stockpiles last at those prices - that's the trillion dollar question.

[SilverDragon72]

To me you can't put a price on freedom, and that's what metals provide; freedom from the hidden tax of inflation, from being at the mercy of financial institutions to access things you supposedly own, from counter party risk, and from the systemic risk of a fundamentally flawed and corrupt (lawless for those who can afford it) system which will have no sting for those of us who are prepared. I don't care what the paper price says, I'm not selling my safety net out of fear or greed. Those feelings are what motivates the herd, and you can't stay ahead of the curve by giving into them. I am lucky because (let's face it, we can't really choose our desires, merely how we act upon them) my motivation is and has been security, and nothing that happens can change the intrinsic properites of metals that attracted me to them.

Well said sir!

The value of the dollar is supported (and inflated) by the whims of corrupt men. The value of PMs is backed by nature itself.

I would have to agree. Keeping a significant amount in PM's is always a good idea! Forget the herd mentality....

[theo]

Some lite reading while we wait . . .

http://www.zerohedge.com/news/2014-01-0 ... -statistic

On December 31st, 1964, the Dow Jones Industrial Average stood at 874. On December 31st, 1981, it stood at 875. In Buffett’s words, “I’m known as a long term investor and a patient guy, but that is not my idea of a big move.”. . . .

So how you feel about asset allocation this year should largely be a function of how you feel about interest rates.

And if you fear that interest rates are more likely to rise– triggered, perhaps, by a combination of Fed tapering and general weariness / revulsion at the manipulation of so many financial assets– then you should perhaps question your commitment to western equity markets as well as to bonds.

As Buffett wrote in a 1999 article in Fortune magazine, “Secular equity bull markets occur when long-term rates are dropping… and secular bears occur when rates are rising.” This is hardly rocket science.. . .

Why do we continue to keep the faith with gold (and silver)? We can encapsulate the argument in one statistic.

Last year, the US Federal Reserve enjoyed its 100th anniversary, having been founded in a blaze of secrecy in 1913. By 2007, the Fed’s balance sheet had grown to $800 billion.

Under its current QE programme (which may or may not get tapered according to the Fed’s current intentions), the Fed is printing $1 trillion a year.

To put it another way, the Fed is printing roughly 100 years’ worth of money every 12 months. (Now that’s inflation.)

Conjuring up a similar amount of gold from thin air is not so easy.

[beauanderos]

Some lite reading while we wait . . .

http://www.zerohedge.com/news/2014-01-0 ... -statistic

On December 31st, 1964, the Dow Jones Industrial Average stood at 874. On December 31st, 1981, it stood at 875. In Buffett’s words, “I’m known as a long term investor and a patient guy, but that is not my idea of a big move.”. . . .

So how you feel about asset allocation this year should largely be a function of how you feel about interest rates.

And if you fear that interest rates are more likely to rise– triggered, perhaps, by a combination of Fed tapering and general weariness / revulsion at the manipulation of so many financial assets– then you should perhaps question your commitment to western equity markets as well as to bonds.

As Buffett wrote in a 1999 article in Fortune magazine, “Secular equity bull markets occur when long-term rates are dropping… and secular bears occur when rates are rising.” This is hardly rocket science.. . .

Why do we continue to keep the faith with gold (and silver)? We can encapsulate the argument in one statistic.

Last year, the US Federal Reserve enjoyed its 100th anniversary, having been founded in a blaze of secrecy in 1913. By 2007, the Fed’s balance sheet had grown to $800 billion.

Under its current QE programme (which may or may not get tapered according to the Fed’s current intentions), the Fed is printing $1 trillion a year.

To put it another way, the Fed is printing roughly 100 years’ worth of money every 12 months. (Now that’s inflation.)

Conjuring up a similar amount of gold from thin air is not so easy.

Good article, Theo. Thx for the post

[68Camaro]

etc...

[Mossy]

The value of the dollar is supported (and inflated) by the whims of corrupt men. The value of PMs is backed by nature itself.

Not so. Spot is determined by paper PM, and there are no limits to what is printed, and even less oversight than the FRN.

OTOH, Paper and physical has to seperate some day. Physical will sky rocket, paper will crash. Including, IMO, the FRN and most other world currencies.

There are many very intellegent and powerful people trying to patch things together enough to get by "just one more day".

[rsk1963]

http://www.bloomberg.com/news/2014-01-14/silver-coin-premiums-poised-to-climb-as-u-s-mint-supplies-ease.html

"Yesterday, the mint said 89 percent of this week’s quota of 3.58 million 1-ounce silver coins were sold following a halt in sales on Dec. 9 because of a lack of supply."

[theo]

The value of the dollar is supported (and inflated) by the whims of corrupt men. The value of PMs is backed by nature itself.

Not so. Spot is determined by paper PM, and there are no limits to what is printed, and even less oversight than the FRN.

OTOH, Paper and physical has to seperate some day. Physical will sky rocket, paper will crash. Including, IMO, the FRN and most other world currencies.

There are many very intellegent and powerful people trying to patch things together enough to get by "just one more day".

I wasn't talking about the (assigned) spot price. I was talking about actual market value. Since true price discovery is not allowed, the actual value of gold, silver or any other asset cannot be known. They've stolen our wealth and our liberty, but most importantly they've stolen the truth.

[slickeast]

They are making the price go up and down so much even Hiroyuki Suzuki is starting to take notice.

[beauanderos]

They are making the price go up and down so much even Hiroyuki Suzuki is starting to take notice.

they're just trying to get people to throw up their hands in frustration and leave metals for the stock market. Thus far, we're just throwing up.

[Mossy]

They are making the price go up and down so much even Hiroyuki Suzuki is starting to take notice.

they're just trying to get people to throw up their hands in frustration and leave metals for the stock market. Thus far, we're just throwing up.

Need a thumbs up.

[Engineer]

They are making the price go up and down so much even Hiroyuki Suzuki is starting to take notice.

they're just trying to get people to throw up their hands in frustration and leave metals for the stock market. Thus far, we're just throwing up.

Need a thumbs up.

Do I get a prize?

[dae2dae]

Do I get a prize?

Open your mouth and close your eyes

[Engineer]

Do I get a prize?

Open your mouth and close your eyes

I still haven't gotten the taste out of my mouth from last time.

[dae2dae]

Do I get a prize?

Open your mouth and close your eyes

I still haven't gotten the taste out of my mouth from last time.

Mrs. Engineer said she would gladly help slap the taste out of your mouth

[Engineer]

Mrs. Engineer said she would gladly help slap the taste out of your mouth