SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

[frugi]

www.kitco.com The World Spot Price - Asia/Europe/NY markets

SPOT MARKET IS OPEN
( closes in 9 hrs. 2 mins.)
Metals Date Time (EST) Bid Ask Change from NY Close

GOLD 04/18/2011 08:13 1479.10 1480.10 -7.30
-0.49%

SILVER 04/18/2011 08:13 42.70 42.72 -0.35
-0.81%

PLATINUM
04/18/2011 08:13 1777.00 1787.00 -12.00
-0.67%

PALLADIUM 04/18/2011 08:13 747.00 752.00 -18.00
-2.35%




Actually, it is already climbing up!

It was down $0.46, but is making it's way back to black. Probably by open here in a few minutes....I bet it goes up by close.

[68Camaro]

Dollar is being propped up. Silver will drag down a bit while this happens.

[68Camaro]

Dollar is being propped up. Silver will drag down a bit while this happens.

Or maybe I should say the Euro is dropping bigtime relative to $. Hard to say at this point. Haven't got a full look at the world news yet this morning.

[frugi]

In my dealings this wknd, I came home with about 30 ounces of silver and about $600 in fiat cash. Not a bad weekend, I found many silver buying opportunities at the fleamarket. Everyone believed silver was going to drop $1.00 per day this week, it may well do so or may do just the opposite, either way I am a buyer all the way up or all the way down. I buy silver with the intent to die before I sell it. Pass it to my next generation. That is the only way you can "profit" from all this. I make a living scrapping constantly, and am able to creat silver out of thin air as "profit", it only becomes a loss when I sell it for paper cash. So I will keep it till I die or until it can be spent at it's true value in place of fiat.

I believe we will see silver gain $5.00 a week until $100.00 by the end of 2011. I believe it will hit $50.00 this week, and the lose 20% over the next 4 weeks, and then start to recover to upwards of $100.00, the only thing that changes during this is the market is flooded with people selling silver everything, but the dollar will still be falling the whole time silver is dropping that will be brutal, look forward to that. I will buy the whole damn time, no matter what.

I bet silver will rise $1.00 per day this week to $50.00 by close on Friday.
(whenever I make "silly" predictions, I usually am always wrong and become embarrassed in the process, but this time I really feel good about my prediction, we shall see.

[henrysmedford]

Just for the history.

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[Jonflyfish]

Prior USD buy signal (USD/JPY) is now broadening across the board. This could be quite a rally into USD as other assets are liquidated in droves across the board.

Cheers

[Jonflyfish]

Final allocation short silver @ 43.46

[68Camaro]

The state development banks of the so-called BRICS economies (Brazil, Russia, India, China and South Africa) "including the China Development Bank, agreed to use their own currencies instead of the dollar in issuing credit or grants to each other — and they will also phase out the dollar in overall settlements and lending among each other."

http://finance.yahoo.com/banking-budget ... et=&ccode=

[frugi]

it is on it's way up. honestly, I think, even though silver manipulation "was made public", and people think it is ending, I think silver manipulation has just begun. Think about it, was is the best way to own silver? I know. Anyone else? Nobody can guess it....think really hard. Physical? yes, but....own the whole damn mine, or the land where you know what you are sitting on, and no need to even mine it, that is where the true manipulation lies. Most mines around the world are NOT scaling up production to meet demand with the ever increasing demand and as the price goes up. Why aren't mines going all out right now? manipulation. Now the manipulation, spectating, etc. will be on below ground, yet to be recovered silver. wait and see.

[IdahoCopper]

My 3 mining claims in Idaho are still under a few feet of snow and are inaccessible.

[68Camaro]

Most mines around the world are NOT scaling up production to meet demand with the ever increasing demand and as the price goes up. Why aren't mines going all out right now?

I don't know that this has anything to do with manipulation, though I'll reserve final judgement. But most silver is mined as a by-product of other mining (especially copper) and thus silver production is inherently self-limiting, until someone with capital decides that there's enough money in it - in the long-haul (not some potential blip that may go away) - to warrant the multi-year investment to open extremely expensive silver-focused mines.

[68Camaro]

So silver and gold are back UP, despite some strengthening in the dollar. That's telling.

Gold about to hit a milestone of $1500...

[shinnosuke]

So silver and gold are back UP, despite some strengthening in the dollar. That's telling.

Gold about to hit a milestone of $1500...

One company running commercials on conservative talk-show hosted radio programs needs to update their ad copy because some are still saying, "gold may hit $1500 ths year." Yeah, and bHo may gaze down us peons and feign greatness.

[Jonflyfish]

it is on it's way up. honestly, I think, even though silver manipulation "was made public", and people think it is ending, I think silver manipulation has just begun. Think about it, was is the best way to own silver? I know. Anyone else? Nobody can guess it....think really hard. Physical? yes, but....

Silver on its way up? compared to fiat? If so, then the best thing from an efficiency standpoint is a financial derivative. The transaction costs and time/effort are much more efficient.
I know most people will disagree on that but if you do "think really hard", a physical position to "make" some fiat gains is very transaction (spreads) and time (waiting in line at the post office) costly.

Physical is a good vehicle for wealth protection but poor at wealth creation when compared to the alternatives.

[franklin]

"Physical is a good vehicle for wealth protection but poor at wealth creation when compared to the alternatives."

Jon:
Good point; there are two distinct type of folks on this forum and you just nailed them. Personally, I am of the former.

[shinnosuke]

Wasn't there a song by a young lass from Australia that enchanted us with the lyrics, "Let's get physical...physical...physical"? Is there a lot of AG in Australia? Is that what she meant?

[frugi]

read this: I don't even need to speak. I am a silver nut. I buy silver with the intent to leave it to my family when I die. Silver is a wealth preserver, and a profit maker, or wealth generator, whatever. I always go with my heart.

http://www.inflation.us/silvertruth.html

[Market Harmony]

... Why aren't mines going all out right now? manipulation. Now the manipulation, spectating, etc. will be on below ground, yet to be recovered silver. wait and see.

Take these words seriously folks. Flooded mines all over Peru since the 60's. We will hear of them soon.

[shinnosuke]

... Why aren't mines going all out right now? manipulation. Now the manipulation, spectating, etc. will be on below ground, yet to be recovered silver. wait and see.

Take these words seriously folks. Flooded mines all over Peru since the 60's. We will hear of them soon.

Keiko Fujimori, daughter of the former president of Peru, is in a run-off against a leftist ex-military officer. If she wins, observers think she will pull more Japanese and international investments back into the country. If he wins? Well, his hero is Hugo Chavez, the little charmer in Venezuela. The choice is for the better of two evils, I guess.

[68Camaro]

... Why aren't mines going all out right now? manipulation. Now the manipulation, spectating, etc. will be on below ground, yet to be recovered silver. wait and see.

Take these words seriously folks. Flooded mines all over Peru since the 60's. We will hear of them soon.

No claim to have any special insight, but if these flooded mines were easy to work they would be working them now. Instead, the mining companies are actively searching for new deposits, instead of doing something with the old mines, most of which appear (to me, from what I read) to be fairly depleted.

[Lemon Thrower]

... Why aren't mines going all out right now? manipulation. Now the manipulation, spectating, etc. will be on below ground, yet to be recovered silver. wait and see.

Take these words seriously folks. Flooded mines all over Peru since the 60's. We will hear of them soon.

pls elaborate on what you mean . . . they flooded them on purpose, a la cigar lake? that would limit supply and move the price up . . . i don't understand.

[Market Harmony]

German immigrant to US, ex-Nazi Youth, and hated every minute of being one... my family brought him over and gave him a place to stay, live, retire, whatever.... that's the abridged long version.

I've known this man since I was a youth. I recently visited him as I learned a little more about his background and wanted to have a beer with him and dig deeper into his life story. The resulting conversation is going to mostly stay with me, but what I can share is his experience working for a large German outfit, recovering silver from copper mines in Peru.

Everything he said confirms the wisdom that we get to hear every so often from others... silver is a by product of other metal mining, it gets poured into huge ingots at the mine refineries and then goes off via clandestine shipping methods and ends up as COMEX good delivery bars when the large ingots are reprocessed. There's just too much of the several hours spilling through my head to organize it into a story that leads to the point to which I referred. Yes, I have the "special insight" I have the inside man... the guy that knows more about silver than me... something in which I take a bit of pride.

The company flooded the mines because they weren't able to mine due to conflicts with corruption (the corrupted shall remain unidentified) They figured that if they were not going to be able to mine it themselves, then to hell with anyone that thinks they can come in after them and take their mine.... they blew the walls and flooded the mines. They made it such a pain in the butt that the "others" gave up, said the mine was worthless, "all mined out" they said.

But friends, my family acquaintance knows otherwise. I am as serious as a heart attack. Perhaps I might be able to take a quick picture of his extensive Peruvian Sterling Silver collection. I have not yet seen it's rival in elegant beauty. But maybe that might make you think that maybe I'm actually telling you something of importance.

Several tons a week in silver when they closed it down

[68Camaro]

Peru is the largest silver producer in the world, more or less - trading places back and forth with Mexico. Let's say the country ups their production by 50%, or 100%, or 200%, assuming the corruption allowed. One mine, even one country of mines, is not enough to flood today's market, methinks. But... we'll see. Thanks for the background. I'm sure it's got some meat to it.

[Jonflyfish]

"Physical is a good vehicle for wealth protection but poor at wealth creation when compared to the alternatives."

Jon:
Good point; there are two distinct type of folks on this forum and you just nailed them. Personally, I am of the former.

Thanks for the kind comments Franklin. It always fascinates me to see some folks focus on what the physical represents in terms of FRN's day in and day out.
I much prefer to just use FRN's to make more FRN's then use those gained fiats to convert into physical then store it away. Rinse. Repeat.

Cheers

[Treetop]

jonfly... im sure 99 percent of those here would do it as well, if they KNEW they could. some of us are incapable, some of us have been bitten before doing just that, and some just dont trust the times we are in..... you feel confident in what yo do, and sounds like your good at it. I doubt I would be able to do it myself, but my stash is still either worth multiples of what I paid or in the least preserving that portion of my wealth. It suits me fine...