Big Day for Silver- 6/20/19 (Thurs.)

[Recyclersteve]

Let’s set aside the manipulation debate for a minute. Let’s consider the so-called London Whale trade of 2012. That trade, done by a single person, is said to have cost J.P. Morgan Chase about $6 billion. I don’t appreciate it when a single person can wrecklessly gamble with his employer’s money like that. He may figure he could make millions in bonus money if he has a really good trade. If he whifs and costs his employer billions, they will announce they missed earnings for the quarter. So, in some bold trader’s mind, this might be a trade worth doing. Shame on J.P. Morgan for not having tight enough controls in place to keep this from happening. So the trader and their employer are both to be blamed.

[JadeDragon]

I probably bought silver at $40 but I also bought at $6 and at $15. My time line is my grand kids and I will win in the long run.

[InfleXion]

When margins can be adjusted in any amount at any time for any reason those who control the margins have absolute power over the price action. That's the last thing I needed to know about non-real markets before I stopped paying attention. Whether or not margins are changed with regularity, whether or not somebody is selling short when they don't have the goods.. frequency doesn't make any difference to my perception on the dynamic. We know by definition that gold and silver (and metals alone) fulfill the entire definition money (durable, divisble, portable, fungible, AND a store of wealth), and therefore are in obvious competition with government sanctioned fiat currency which must hold its value to make our debt based bonds an attractive buy in order to avoid federal bankruptcy. When currency can be printed without limit on the backs of the middle class, then anything that currency can buy can impact price action without limit (at least until the physical market calls the electronic market's bluff). For as long as that is the case price only means one thing to me: what can I buy something for, because I'm not selling assets for TP. Uptrend or downtrend, through the floor or shoot the moon, if fiat isn't backed by metal, I'm acquiring metal, or at the very least not moving into a house of cards built on a foundation of sand no matter how much new paint is applied or how ugly the neighbor's house is. Metals are the brick house that won't get blown down. That kind of security is something I can't put a price on. If the investment goal is for profit and ultimately based on greed and not security, then those are weak hands more likely to sell for a loss when the winds change instead of being in it for the long haul. In the Great Depression silver took I think an extra 5 years to peak after gold which was still after the stock market crash. Short term investment in silver is treacherous. It only wins every few generations, and it's a go big or go home kind of deal. I only got into metals with the mindset that if I don't enjoy the benefits, eventually someone in my family will, and I have what I need to barter with if cryptocurrencies become mandatory to buy and sell on the grid. An honest paycheck is more than enough to meet the rest of my needs given no addictions, vices or entrapments. To me this is a buyer's market for anyone who has cash to spare, whether that's metals or any tangible asset that has offline utility.

[68Camaro]

Drills down quickly to the fundamentals without side distractions. That's what I appreciate most about your posts.

[InfleXion]

Drills down quickly to the fundamentals without side distractions. That's what I appreciate most about your posts.

If only I could proofread better before I post and avoid all the edits. Ah well, thanks =]

[Market Harmony]

Let’s set aside the manipulation debate for a minute. Let’s consider the so-called London Whale trade of 2012. That trade, done by a single person, is said to have cost J.P. Morgan Chase about $6 billion. I don’t appreciate it when a single person can wrecklessly gamble with his employer’s money like that. He may figure he could make millions in bonus money if he has a really good trade. If he whifs and costs his employer billions, they will announce they missed earnings for the quarter. So, in some bold trader’s mind, this might be a trade worth doing. Shame on J.P. Morgan for not having tight enough controls in place to keep this from happening. So the trader and their employer are both to be blamed.

The counterparties to the trade had better information or were tipped off. By the size of the trade and market in which the trade was made, it seems awfully unlikely that there was a sole responsible party. Scapegoating exists. That money didn't just vanish.

[Market Harmony]

I probably bought silver at $40 but I also bought at $6 and at $15. My time line is my grand kids and I will win in the long run.

Sounds like you already won.

[Market Harmony]

When margins can be adjusted in any amount at any time for any reason those who control the margins have absolute power over the price action...

The FED was created for this very reason.

[pennypicker]

When margins can be adjusted in any amount at any time for any reason those who control the margins have absolute power over the price action. That's the last thing I needed to know about non-real markets before I stopped paying attention. Whether or not margins are changed with regularity, whether or not somebody is selling short when they don't have the goods.. frequency doesn't make any difference to my perception on the dynamic. We know by definition that gold and silver (and metals alone) fulfill the entire definition money (durable, divisble, portable, fungible, AND a store of wealth), and therefore are in obvious competition with government sanctioned fiat currency which must hold its value to make our debt based bonds an attractive buy in order to avoid federal bankruptcy. When currency can be printed without limit on the backs of the middle class, then anything that currency can buy can impact price action without limit (at least until the physical market calls the electronic market's bluff). For as long as that is the case price only means one thing to me: what can I buy something for, because I'm not selling assets for TP. Uptrend or downtrend, through the floor or shoot the moon, if fiat isn't backed by metal, I'm acquiring metal, or at the very least not moving into a house of cards built on a foundation of sand no matter how much new paint is applied or how ugly the neighbor's house is. Metals are the brick house that won't get blown down. That kind of security is something I can't put a price on. If the investment goal is for profit and ultimately based on greed and not security, then those are weak hands more likely to sell for a loss when the winds change instead of being in it for the long haul. In the Great Depression silver took I think an extra 5 years to peak after gold which was still after the stock market crash. Short term investment in silver is treacherous. It only wins every few generations, and it's a go big or go home kind of deal. I only got into metals with the mindset that if I don't enjoy the benefits, eventually someone in my family will, and I have what I need to barter with if cryptocurrencies become mandatory to buy and sell on the grid. An honest paycheck is more than enough to meet the rest of my needs given no addictions, vices or entrapments. To me this is a buyer's market for anyone who has cash to spare, whether that's metals or any tangible asset that has offline utility.

Most refreshing to read such insightful and well articulated posts such as the above...a far cry from the shallow, "let me show off what I bought yesterday" posts on a baseball card forum I used to belong to!

[Market Harmony]

I probably bought silver at $40 but I also bought at $6 and at $15. My time line is my grand kids and I will win in the long run.

This is one of the best responses within this thread that is REPLEAT with excellent information.

I wish you generations of silver fortune