Thursday, March 24, 2011

The BS PM "market"

If any new readers wonder why I always use quotation marks around the word "market" when discussing the PMs, its because of days like today.

As discussed in the previous thread, all was well in the PMs and crude until roughly 1:00 EDT when, suddenly, a sharp spike lower appeared. I called Lind-Waldock. "Any rumors of margin increases?", I asked. "Nope", was the reply because, of course, they didn't know. How could they? But...someone did! Down went the metals through the close and down even further on the Globex. Then, at long last and after giving their friends plenty of time to sell, the CME issues a press release raising margin requirements on silver. What a frickin joke. Martha frickin Stewart can do a year in the hole for selling a couple of hundred shares of some bullshit stock on supposed insider info but this crap on the Comex continues unabated. Absolutely fucking sickening.

If you'd like to read the entire release, you can find it here:

All of this BS is clearly a response to this...summarized here by Trader Dan:

Silver Deliveries information - March now at a Premium to May

There were a total of 80 delivery intentions issued for tomorrow with the largest issuer being JP Morgan. I find it interesting that these intentions to deliver from Morgan are for the House and not for Customers. As has been the recent pattern, Barclays is the largest stopper and they are stopping for customers.

There are still 717 contracts open in the March contract.

Something does appear to have changed however - the March contract is now trading at a slight premium to the May. It is not much but it is at a premium. The spread now favors the March by one cent. This is the first time in some while that it has moved from a slight discount to a slight premium. I am going to keep a close eye on this especially with silver up more than 2% today. 

Things are getting very interesting in here as we wind down towards the end of the delivery period for March.


Next, we need to know where to BTFD because we definitely want to BTFD. Here you go:
Here's the mentality you must have:
The margin increase is the pathetic, manipulative response of the CME as they try to protect themselves from the squeeze they are experiencing. Based on past and recent history, you knew it was coming. Ah, but here's the rub. The fuckers at the CME aren't going to raise again tomorrow or Monday. They're done for a while. That "uncertainty" has now been removed. Less uncertainty means we can buy with more confidence. In the end, this is good news if you don't panic sell and patiently BTFD.

More later.

Very nice recovery after the "news" hit the wires. Silver already about 40 cents off the low.
And, if you haven't read this yet from Trader Dan, I suggest you do it now:
More this evening. TF


  1. Uncertainty about further margin hikes right away and a wave of continued demand for physical make BTFD easy as can be.

  2. step back, two forward. Thanks TF.

  3. Anyone left believing in the rule of law?

  4. I think the 2 dollar jack up in silver recently might have been a bull trap ploy to exaccerbate selling with the margin increase. what's more powerful the trend or the manipulation?

  5. I am sure someone from the CME sent the Wicked Witch of the Morgue or one of her monkey captains an email/text as soon as they saw the info on the margin hike. F$ck the common man, as JPM spares no prisoners in this war. I hope they truly have overestimated the effect this will have on silver BTFD and FU JPM...


  6. Bough a boat load of HL on the dip and punched up APMEX and bought up some 10oz bars on the dip. I have been buying silver since $9 so I have made my money..These dips are welcomed, but the obvious take downs are criminal at best.

    Thanks for all you do Turd and Community.


  7. What did HL's asshole CEO Baker say on FOX?

    He's the most incompetent fucktard in the mining industry.


  8. LOL.. I just sold.. I dont wanna get up in the morning and see the whole thing down

    Thanks TYF

  9. Turd - when the first leg down happened, i was checking the world news to see if Japan had exploded in full meltdown and thousands were dead or some other tragedy - no new news. so i checked the other markets to see if anything else was plummeting. nope, dow up 70 at that point and rising. That only leaves... margin hike + manip sell off.

    Remember that time back in november when we briskly moved from 27's to low 29 and we had a downside reversal that day followed by a margin hike news after the close? this feels eerily similar to that.

    it took a couple weeks for price to recover from 26's if i recall properly. eventually we did test 30 and then 31 before the jan correction.

    this just tells me that we're getting close to the current top in this leg up, my guess is itll be between 40 and 42$ before the price comes down and the jets cool over summer time.

  10. So.. could someone just explain to me how on earth this game EVER ends? Absent a complete dollar/market/United States of America/the-world-as-we-know-it CRASH ....what exactly is to stop them from continuing this game indefinitely?

    I know what we are in for and how we have to fight it.. ..and still I am just so disheartened right now.

    Can't afford to buy any more dips. :[

  11. Does anyone have an official time of the release from CME (for obvious reasons... not that there are any officials that give a shit)?


  12. Blythe Masters took an axe,
    And gave Silver 40 whacks.

    When she thinks that she is done,
    Silver will make another run.


  13. EXK is just getting hammered. Still haven't been stopped out yet. Hanging on to this overnight might be dumber than shit, though.


  14. Lucky me :) , I sold most of my ISVLF at 3.15 and bought a bunch of ZSL at 23.25…I know , I know, we try not to overtly short the market…but we were just bound to drop, so I took a shot, and happy I did!

  15. As much as I love the clubhouse atmosphere and the silver cheer leading I'd like to share a bit of perspective. Look at where silver was on Jan 27th. Now look at where we were today. I don't think many people appreciate just how much of a move that was in such a short amount of time.


  16. Yukon I very much appreciate where were at..:)

  17. Bought the dip! SDS, TZA and QID was on sale. TZA was at all time lows. I don't see the strength that all the shrills are yelling about today. Going short on the indices. Just wish I had sold the last of my AGQ this morning when I was paring stocks at the heights of the day. Well - we shall see what tomorrow brings!

  18. Well they got to do something!!!

    They cant have silver shooting up like that, it will fuck them up.

    I never dreamed silver would hit 50 this year, were only 13 bucks away from the all time high !

    Now Im starting to think a little crazy , that it will blow past 50 sometime this year .

    I would have never said that 2 months ago I was hopeing for 40 by December. shit, we might hit 40 this month

  19. Blythe liked it so much last time that she wants to do it again.

  20. Yukon: Tell it like it is! Silver is up over 30% in less than 3 months. Now if gold would just get off its rump and follow, I'd be one happy man! :-)

  21. ginger,

    its incredible to see these stunts repeat themselves, but the price is generally rising, so we are slowly winning. still, if i did not see this stuff with my own eyes, i would not think its possible, and i have been in these markets close to ..gulp 45 years. still, it must imply that they are desperate. i hope so.

  22. Just remember that they (the BB or TPTB) have sold PM paper to physical 100 to 1. Once the truth is out 40$, 50$, 100$ will mean nothing!!!

  23. The games continue, and will continue until there is absolutely NO effect on the market from their shennanigans (cool word, eh?). My uncle Ludwig (who also went thru the Weimar Inflation) would always blame the ellusive 'Finnigan'. So, Finnigan raised the margins again!
    Decop was verification in...

    De cop(Turd) gonna getcha BM!
    All I can say is that I'm counting out my change jar and buying another 10oz bar. (if old Paul has one for me)
    Keep the faith brothers and sisters, we all know the ending.

  24. Much like the rest of the shenanigans in our financial "markets", I view these maneuvers as a temporary delay of the inevitable.

    They may be able to delay, postpone, and draw this out, but they cannot halt the inevitable. Eventually the bill will come due for X ounces of physical product and the vaults will run dry.

    Perhaps this is just the glass half full perspective, but I try to think of it as additional opportunity to stock up.

  25. vamoose,
    You, of course, are correct. It is only a matter of time. How can they keep this up indefinitely? I just keep hearing here and from other sources..'when everyone wakes up and realizes..' How can people NOT realize with all the economic hurt out there?? ..Well, let's all just wake them up already!...once and for all. I'm very tired of the Fed's games.

    YOU did good.

  26. I am learning to enjoy the elevator drops by the Soviet commissars who trade all day long on coke and amphetamines from their secret locations. I can average down into sizeable positions this way in pyramids and not have to worry about chasing after the runaway train. I don't like to chase price, especially knowing that at any moment an IED is waiting in the road for me. Amerika is increasingly a disgusting and lawless place. Its Markets are entirely lawless and criminal. Its wars are all illegal and immoral. Its citizenry is fat,listless,ignorant and I-Pod addicted. But the trick is to somehow allow this weakness to work for me. Counterpunching is the name of the game. I was angry watching this thing get away from me in the a.m. Now I am pleased that they have come back home to me. There has never been a time where Gold spikes to new dramatic highes when it doesn't quickly reverse and sell down 20 or 30 pts. I cannot remember a time. Its the surest shorting signal in the Universe I think, even though I don't do that. But I was very lucky and sold SLW high, now I am busy rebuying, who the hell knows? The PM Market is literally like Somalia now or Mexico. Its run by criminal warlords and gangs of pyshcopaths. F....Em!!!!


    Anyone one sign up for these dildos "Advanced notification" of rate hikes? HAHA I guess BM does.

    Ginger, I'm with you, hard to be patient, something I'm learning though I got triggered a little early and then wasn't smart enough to sell real quick.

  28. Our Enemy has the ability to sell short with seemingly unlimited Funds.
    Holding tight to Bullion will be their Achilles' Heel

    Ginger said...So.. could someone just explain to me how on earth this game EVER ends?

  29. rthaler71,
    Some of the US citenzry are not as you describe, of course. And what you see here now is not what most of us grew up wanting, working for, or thinking we had.

  30. Lol such bullshit but i'll play that fucking game too bitch. At 11:15am bought zsl call contracts for April at $25 for the overnight globex raid. And there it came. Margin increase at 12:15pm lololol. Up 23% in an hour. So stupid.

  31. Looks like I won't be able to skate outta work early today to cruz on over to Gainesville Coin to pick up a couple more rolls of coinage during this BTFD opportunity.

    Do you think it will drop even further tomorrow, or do you think this will just be a quick bounce and then back up to 38 and beyond?

    Would love to get some of this "cheap" stuff at 37 right now. Would get 40 of the Buffs at a buck over spot. I'm done with ASE's anymore...the premium at GVille is getting too high.

  32. @SSK
    I would not worry about your EXK. Nothing has changed there and you might get a nice surprise if and when they announce their acquisiton. If you are buying the stock and not going all in at once, you should welcome these breaks as an opportunity to add to something that has already proven itself to you. I said this morning that todays chart support was 9.31 to 9.42. I bought more at 9.33 today because I ususally try to be a little of the bottom number. The low was 9.26 today. If you think it will help you, tomorrow morning I will post where I see technical support for EXK. Do all your stock picks move immediately in your favor and never put any pressure on you? Mine don't.

  33. @ Darth Smoker

    Sadly, for Our Enemy, they only have dollars. Not money. That all went China and India in the last 12 months.

  34. jaws & darth,
    Therin lies our problem. WE don't have a printing press. WE have to abide by the laws. WE don't get advanced warnings for when to buy and when to sell. It would seem that WE can never win this.. ...but buying and owning the physical. ..Ah.. there is hope ..hopefully. :d

    Thanks for the reminder. I will continue to buy and hold I can. "/

  35. @atlee

    I would very much appreciate your EXK analysis.

    Much obliged.

  36. ZH saying QE3 likely leaked. Not that we didn't know it was a cert, but if the TBTF are betting on it you know that they know something

  37. Ultimately the Morgue's attacks only lead to their own demise as a lower price means more physical taken off the about those March deliveries....if they are going so well how come March has moved to a slight premium to May?

  38. Torpedo and Rthaler -

    Would you be so kind as to describe or point me to a reference on your "pyramid scheme", so to speak?

  39. my verification word for the above post was "inked" which is pretty funny seeing as there wil be a lot of ink used to make QE3 a reality

  40. Ginger, how's the practice forex working for you? Still working it or did you give it up? Playing it just going in after raids is a pretty solid way of making some coin. I'm learning quickly and quit playing daily (for the most part) except for FRYday. :')

  41. In this market, you really have to expect volatility and to be patient. I was long gold futures early this week and exited at 1427 on Tuesday. The next day it jumped and today we hit 1448.6 intra day. I thought I had missed the train, but I knew better than to buy. My patience was rewarded, and I am back in at 1424 and I managed to load up on call options for June.

    This is how I like to trade this market. As angry as some are about the manipulation, one can still make money in this market. In fact, I think you can make more money if you are nimble and you manage your greed and exercise some patience.

    At the end of whatever is coming 1500, 1600, 1700, there will likely be a big waterfall correction down for several months. So trade cautiously, and be patient for the corrections. And be wary for the parabolic top

  42. Corner vs. Corner. Well Blythe has run her govt sponsored corner for years, and even thoug the price has risen, the sum of the takedowns probably means jpm is profitable, if you add them all up.

    But last November Eric Sprott did an issue of physical silver at 24. PSLV, currently sporting a 20 percent premium.

    It to0ok 3 months to get the bars to the Royal canadian mint . Getting that much silver , 500 million dollars worth required shopping all over the world. But many of the bars were dated LONG AFter the issue settled, virtually still warm from the refinery.

    There is no silver around, pyhsical silver that is.

    Now consider this. What if he did another issue. Its already cleared... he quite readily could. So who is cornered, Sprott Securities or someone of like mind, or this supercilious kunta kinte at JPM,. I would argue that the cornered party here is the redoubtable BLythe masters. And the Comex.

    And why does PSLV trade at a 23 percent premium to nav, it makes it difficult to sell the issue no? More fiddling. Quite possible.

  43. It's been a weird day, watching Ag go up all the way to 38.15 then watching it fall back down again in an hour or so. I was feeling a bit deflated, then remembered that it was only nine days ago that Ag printed 33.65.

    If someone had said to me on 15th March that we'd go from 33.65 to 38.15, with a drop back down to 37.14 (my last) in nine days, I'd have thought they were crackers for being so optimistic.

  44. re: forex. Practice or real, it's pretty easy to see when to buy (once you get the market rhythm down), aka BTFD in moderation, but when to sell? That's always tough.

    It's so much easier with physical, buy good and then hold until you don't have any food to eat. Or the Gold:Dow ratio is 1:1 :)

  45. Don't be so sure they won't raise again tomorrow or monday, but you can be sure that they can only raise so much before they blow themselves up. Higher margins increase demand for physical thereby hastening the futures defaults.

  46. So do i need to worry about a comex default yet? any comex based paper silver would go to 0 in a comex default, correct? maybe the last laugh will be on all the paper traders who are actually LONG silver...?

  47. Kind of interesting that (as of right now) we'll leave the price for the overnight crew tonight about where they gave it to us this morning.

    No gap to fill.

    So will Asia jump all over this and push back up or flatline like they did the last two nights?

    Or do their own version of a dump?

  48. I'm kind of confuse when it involves futures and contracts. From what I garnish, JPM sold contracts, which mean they have to deliver for March, correct?

    Now what's the issue then? That there isn't enough silver to meet this delivery? So JPM has to either:

    A) settle the contract obligations, via a preium paid to the buyer of the contract?
    B) try to buy other contracts to receive silver before turning it over to their arranged buyer?
    C) how does comex default have anything to do w/ it? is it because this is traded on the comex, which is why they are getting the risk of default?


  49. Short term fluctuations is not to important.
    long term trend is a lock. It is up.
    Easy money buying and holding.
    Market manipulations are annoying, but it won´t hold forever and still the trend is up.

  50. Dear Blythe and Ben,
    Thank you so much for this wonderful discount on Silver. I am going to go purchase more physical.

    In commemoration of the memo from the Treasury Department, I am no longer buying US American Silver Eagles.

    Instead, I will be buying Canadian silver maple leafs and Austrian Vienna silver phils through my local wholesaler.

    I'd like to thank you for this discount because before Quarter 2 is out, your short positions will be under more water than Fukushima nuclear power plant and your paper will be more radioactive than the water inside Reactor 3.

    By the way, the Tokyo traders for JPMChase give you and Jamie their regards.

    They would like to know if US dollars will keep buying 80 yen or if it will be 70 by the time the checks arrive.

    Have a nice day Blythe. Globex thanks you and Beijing does too.

    Your friend,
    The Jedi

  51. In that video where Jeff Christian admits that paper silver trades in more volume than the underlying physical, most people here (Turd included) hear him say "multiples of 100 to 1" but what i hear after watching the video several times is "multiples of hundredS to one" Maybe Im the only one, but I hear the plural version of the word hundred, meaning HUNDREDS to one, which could be 3, 4, 5, 12 hundred paper contracts for each ounce (who knows right?). Am I the only one who hears that 'S'? What do you think?

  52. @Letey Petey,

    I am not able to explain it well as my english is very poor. The main idea is to buy in small amounts everytime the line goes down, that's it. The trend is UP, you will be winner anyways. Also, I am scalping where it's possible while the line goes down. and I am making sure to have enough money to withstand evil "corrections" because I don't use STOPS

  53. @moogle fishy

    There probably will not be any default. A default occurs when a buyer stands for delivery but the seller cannot or does not make delivery. The buyer and sellers participate in the COMEX market. There are contract rules in this market. When somebody refers to a COMEX default, they mean the sellers, whomever they may be, cannot or do not honor the delivery requirement before the contract deadline.

  54. Hey Ginger,

    Saw your post from last thread. Cool that you are in the Apex/Cary area!

  55. Hey guys I have a great idea that will make us all rich. I'm going to print up a bunch of paper certificates good for a half-pound all-beef hamburger, on a nice kaiser bun with all the fixin's. I'll sell those burgercerts to you guys at a discount and feel free to hold them, sell them, trade them, whatever you want. I'll give you a 50% discount on every burgercert you buy from me, my initial offering will be for 50,000 burgers. Now don't worry because any time you get hungry and want to cash in, just come on over to my house and I have about 20 pounds of beef in the freezer and we'll get the weber out and fry you up as many burgers as you want.

  56. SilverBlev,

    The only certain is that Jeff Christian is a total douchebag. He denied it all shortly thereafter. The toothpatse is out of the tube.

    Bay of Pigs

  57. @ Joe,

    Thanks for clarifying. I just don't think it's an issue if it can be resolved w/ money. These guys aren't gonna to lug TONS of silver for the sake of just holding it.

    But just saying.

  58. ALL take a chill pill....if ya got cash and it dips to 36.50 then buy some.....If you are loaded.....then relax this is still short term up up and up

  59. My miners turned out OK today. They never went up pretty good, came back down, and went a bit negative. I ended a bit down, but not much.

  60. In case you need a good laugh today, here's a video of Obama getting himself locked out of the White House.

  61. If there was a like button on here, I would give a major thumbs up to both mammoth's poem and Pablo's burgercerts.

    Everybody keep the faith! In Turd We Trust!

  62. Is today's press release the reason why we did not see any significant raids yesterday?

  63. ok, so my entire miners account went down less than 1% today. Not exactly the end of the world. As Yukon said, look where we've come from since Turd's Bottom. Or even just since the weekend. No more grumpy gills! Smile.

  64. That devastating raid took us all the way back to yesterday. We should all just pack up and quit.

  65. Pablo,
    Are you naked shorting hamburgers?

  66. Rthaler 71

    I think you have it totally nailed. Huge percentages of our culture have no character, they are weak, spoiled , useless, and we vote for politicians that return the compliment. We asked for it.

    This is a failure of the culture, personally i think societies and empires migrate towards entropy. Well how do you do.

    Its been 65 years of decline post 1945, those people lived through a depression and a world war , they had CHARACTER. WE do not, shirtsleeves to shirtsleeves in 3 generations, well, do the math, and add 45 million people on foodstamps? Kindly be serious. Its over. Its sad, but we are running on fumes, and it was ever thus.The strong displace the weak...source...Mother Nature.What fun.

  67. No worries, folks. Price of Ag is over $37 AFTER they raised margin requirements. They shook the tree and left us with even stronger hands holding.

  68. True that, kliguy!

    With every JPMonkey attack,
    I move to increase my silver stack,
    The attacks do not subside,
    My stacks grow high and wide.

    Time was, when frightened by Blythe's magic spells,
    I would tremble as trolls proclaimed, sell! sell! sell!

    But my hands have grown stronger,
    and the trolls have proved wronger.

    Thus my Eagles have doubled since August last,
    And investing has never been such a blast!

  69. Three days ago we were lamenting that silver would NEVER close above 36.....

    So everyone chill out and relax.
    Long term we are on the right side of this trade.

  70. So what is the price target for the price of silver. When will I entertain selling my physical silver? $80, $100, $400? How high is this going to go?

  71. Well, the least I would need is a 1$ drop from the highs to buy. It's still a good buying opportunity for anyone who missed the 34$ dip.

    Anyway, we won't stay here long, the next upleg has begun and it won't take long for it to take off.

  72. it's just a little correction folks!, nothing to worry about, Gold has support at $1425, Silver at $37...nothing has changed...same fundamentals...let's look at the big picture, long term situation:Gold $1650, Silver $45, Oil $122 by know, a little of manipulation here and there or, if you like, some profit taking are very well normal...Turd and other are pissed because the sudden drop, but nothing never goes straight's a bullish pullback.

  73. Don't worry, Leonard, there's plenty of beef in my freezer vault which I coincidentally run myself and audit internally.

  74. "Paul Breed said...
    Three days ago we were lamenting that silver would NEVER close above 36.....

    So everyone chill out and relax.
    Long term we are on the right side of this trade."

    Don't waste your energy on advice. Some here will bitch if silver goes up 100$, then corrects 10 cents.

  75. OT, I just saw a video of the Liberty Dollar creator Von Nothaus at his trial...

    Fargin' iceholes!

  76. what is the supposed reason for the margin hike? doesn't a higher price necessarily increase the margin? (actual dollar amount not percentage) i know what the real reason is. just wondering what the given reason was.

  77. "malcolm said...
    Just remember that they (the BB or TPTB) have sold PM paper to physical 100 to 1. Once the truth is out 40$, 50$, 100$ will mean nothing!!!"

    Finally someone here who understands these markets.

  78. Aria, Some will start Trading Silver for Gold when the ratio is 30:1, more at 20:1.$GOLD:$SILVER&p=D&yr=1&mn=0&dy=0&id=p60507327723

    Others will trade in their Silver/ Gold for The Dow/ S&P when the Gold / Dow ratio is 1:1


  79. As was mentioned

    "I think you have it totally nailed. Huge percentages of our culture have no character, they are weak, spoiled , useless, and we vote for politicians that return the compliment. We asked for it."


    This is how it might all end for the POS banksters...

    These people with no character and are weak and spoiled have LOTS of guns and ammo. Their bellies are full now. If it all comes crashing down and their bellies are growling, they won't be so weak OR spoiled....well, I WOULD NOT want to be a bankster then.

  80. This comment has been removed by the author.

  81. Go back and read Turd's intro. The wailing and gnashing of teeth is not because silver is at 37.17. It is because it's here because of CRIMINAL behavior! This is a continuous crime in progress and OUR government does Nothing about it.

    That says everything about the future of this once great nation.


  82. This comment has been removed by the author.

  83. Icarusonfire, at least we have Charlie Sheen on our side. Ha!

  84. Interesting... The CME document was created at 2:18 pm today by a Rebecca Pozo an Administrative Assistant at CME Group in NYC according to the document properties

    Would be interesting to reverse engineer who her boss is... You can clearly see the silver "market" whoppin' a duh right around 12:15-12:30 pm, so (being unsophisticated about these things), is it possible that whomever old Rebecca is an Administrative Assistant to tipped off all his buds before releasing the margin hike late afternoon?

  85. Looks like Jesse was spot on this week....

  86. Impact, wildcat, tinka had a good day...I'm out of whatever I feel is being shorted. Even after the raid gpl stayed pretty steady, so I'm hoping for an upside soon. Time to put in an order for physical, close the computer, and check back in next week.

  87. @vamoose

    Don't give me that generational garbage. We're all products of our time. The "greatest generation" is only great because they inherited an American empire that stood alone over the decimated corpse of the developed world. They'd do no better in the current environment of economic exploitation, corporatism, and class warfare. Human nature doesn't change.

    As for the metal, I've been contemplating snagging another 20oz... but I have this gut feeling that the turbojets are going to come off PMs for the summer and I'll have a better opportunity a few months down the road. Well, that and I might need to put some $$ down on a lease because my POS Chevy is dying.

  88. rthaler71 is every guy I work with in Eastern Europe/Russia... He doesn't say these things because he despises America, but rather because they are massively disappointed that we are becoming the Soviet Union and Rome is his other reference. Don't believe me? Like Rome, we've devalued our currency, increased our social welfare programs, and fought unfunded wars starting with Vietnam... Now, quick!!! Back to NASCAR (our chariot races), MMA (our gladiators) and reality TV (our theater of the absurd).

    So, how off base am I or rthaler71? ;$

  89. Here's one final comment about all this with a different perspective that I think is worth considering. I know it's going to make some of you pissed as wet hens, but I think it's important.

    First, I assume that we all realize and understand that the fundamentals of gold and silver are indisputable and that from their very foundations we know they must and will go higher.

    Then lets assume that there is a powerful group(s) of individuals and interests who seek to suppress the price of silver as much as possible to their own ends.

    Given those two assumptions can we not then say that unwittingly at this point these groups are doing us a huge favor? They are attempting to delay the inevitable to which ultimately will we not benefit?

    Put another way, which is better? If silver runs up to $500 today, in a year, or in 5 years?


  90. "It is because it's here because of CRIMINAL behavior! This is a continuous crime in progress and OUR government does Nothing about it."

    Which is precisely why I started buying, and holding, bullion instead of trading it.

  91. To put the "Greatest Generation" into perspective, the got us into Vietnam and guys like Curtis LeMay would be a war criminal today.

  92. .: moogle fishy :. said...

    @ Joe,

    Thanks for clarifying. I just don't think it's an issue if it can be resolved w/ money. These guys aren't gonna to lug TONS of silver for the sake of just holding it.

    But just saying.

    In the medium to long term, your view breaks down.

    If the paper price is not allowed to gain, then there will be shortages of physical metal, and this will not go unnoticed. The price of physical will either rise or carry a hefty premium.

    Let me give you a very concrete example: The industrial users cannot source physical for $37 per ounce, so they will deal directly with refiners or miners and pay whatever it costs to source silver. That might be $60 when the price of paper is $35.

    Another example: The retail bullion dealers receive limited supplies of coins and bars. It flies off the shelf in a day. The next time they get in a shipment, they mart the premium up to 60 to 100 percent.

    The bullion banks and the Federal Reserve cannot keep the price suppression going much longer. No central bank or government is bigger than the market. There are only two scenarios remaining:

    1. Make bullion buying illegal or tax the heck out of it (i.e. change the rules)

    2. Allow the price to rise.

    There are huge consequences to either of these two scenarios.

    So you see, it really is an issue if the CFTC continues to ignore the manipulation that occurs in the COMEX.

  93. The world is convulsing in multiple environmental. economic and geo-political cataclysms and Au/Ag are still nowhere near the inflation adjusted highs of 1979, when the Russian invasion of Afghanistan and the declaration of martial law in Poland were the significant crises du jour. Seems kind of tame in hindsight now, doesn't it?

    At that significant juncture, after the price chasing Saudis had gold bullion flown in by the plane load and those in the know such as Jim Sinclair had quietly unloaded their own pallets of bullion, TPTB crashed the PM market and booked huge profits. Surprise, surprise.

    While the PM market may be a pleasant and sometimes profitable distraction for many, nothing much has changed since then. The bankers and the fundsters are going to pump you on the way up and bleed you on the way down, just like they've always done.

    There's a thrill or two to be had on this little roller coaster ride, but Au/Ag have always been the "money" of the elites who control the game, along with the real world reserve currency; no not the USD, but sweet crude oil. And our plutocrat puppetmasters will just as surely manipulate the metals so supposedly secure in your strongboxes and safes as they do the gas in your tank.

    So prepare yourself for a wild ride and if you play the game right, you might eventually be able, for all your trouble, to exchange a few of those barbarous relics for a sizable chunk of land, or piece of real estate from which to relatively comfortably survey the seemingly illimitable desolation and ruin engulfing the massa damnata of the wretched of the earth.


    No matter how the dice is rolled, JPM and Blythe will win because they control the physical silver. I don't think they are worried about the paper price.

  95. Well said Yukon.
    Silver @ $500/oz will mean we may have bigger problems on our hands. Though it does always feel good to be vindicated and have some extra fiat from trading to go party like it's 1999. Personally, I was sick with cancer all year, so trading was my only source of income. If you aren't sick, take profits when you can and go enjoy life! And that's what I'm gonna do right now with my first majestic profit.

  96. Yukon...

    I'm with you. It's the only question I ask each day... "Has anything changed? Are we/the world making change along the lines of what the Deficit Panel said is necessary or not? Until those things do change, I stay the course with little adjustments and a light hand on the helm.

  97. "is it possible that whomever old Rebecca is an Administrative Assistant to tipped off all his buds before releasing the margin hike late afternoon?"
    A more realistic scenerio is Blythe called the CME around 2pm and told them to increase margins. Blythe can't afford a leak at the CME Group. (tail wagging the dog).

  98. AgApe: jesse is almost always right

    he's a class act, just like Turd

  99. Just a thought : Didn't Wynter say that they would stand for delivery unless silver went to $38? Well....

  100. @icarusonfire

    Go back and read Turd's intro. The wailing and gnashing of teeth is not because silver is at 37.17. It is because it's here because of CRIMINAL behavior! This is a continuous crime in progress and OUR government does Nothing about it.

    "Our" government is almost certainly behind it! Why would they do something about it?

  101. Up from 6:00.

    the world is going to hell. Jai - I want to know the answer of how soon too. We have two 1/2 years in which we are hoping for 'normality' and I am hoping that we don't have a complete breakdown of civil society here in Canada. But I do think we will see currency become gold backed. It might be brand new currency, or they somehow put value back in the old notes.

  102. Look at the silver one minute chart. Gap up?

  103. I guess food will be the next currency :) Not even silver...

  104. Us guys in Asia are buying gold and silver again...

  105. When you're in a not-just-existential but literal battle for your very life, you will do whatever it takes. I just expect this sort of stuff from the banksters - dirty tricks, rule changes, game changes, definition changes, etc.. There is absolutely nothing that won't be tried. It is interesting to see to what lengths they must now go, though, to continue. My take is the violence will get really, really ugly soon. I've made a deal with myself to keep at least 6 months cash dry - or a very liquid equivalent - so that anything they throw at us can be outwaited. It's just a question of time.

    I've seen really bad shit go down with banksters, e.g., in order to get paid their multi-million $ m&a fees up front, they wanted workers'pensions liquidated, which they knew was clearly illegal. But they didn't care. As long as no one objected they were fine with it.

    Nothing surprises me so far in this battle. And it is a battle to the death. We all know that. We must all prepare as best we can and learn to roll with all these punches.

    P.S. Re: 18 month, 0% credit cards from our friends at JPM, Chase, Discover, etc. The offers just keep piling up, but I don't throw them out. It is always good to have access to liquidity in an emergency. If there is a nasty take down and selling would be painful, well, there you go. Free living for a while without taking a beating.

  106. Very nice early evening rally.
    Margin hike half-life: 6 hours?

  107. Hi Turdle,

    I hope your wife's family is doing well under these horrific circumstances. They're in our prayers.


  108. Probably related to this:

  109. Message intercept (fiction).

    Tanaka-san in Tokyo - Dimon-san says to sell silver.

    Tanaka-san then calls Sugimoto-san at BOJ.
    Sugimoto-san works at BOJ - Sugimoto! Buy silver and gold from the Americans tonight.
    Start now.

    Tanaka-san then starts selling T-bonds and buying Bank of Japan Bonds. He also starts selling silver through JPMC.

    Message from Tanaka-san to Dimon-san- Yes sir. We are selling silver.
    (hangs up phone)

  110. Irene - I have typed those exact words, I am sure. Nothing surprises me anymore. And it is true what someone said up above about Martha Stuart doing time and these crimes are just out in the open. No shame. And I am not moaning about the price of silver. I am moaning about the state of mankind.

  111. Re: our so-called Government defending the little guy.

    Guys and gals, from the banksters POV, the system is there to be worked, massaged, and used to advantage. You say "Illegal!" They say, "Innocent until proven guilty. Oh, and by the way, it'll take you 5 years and $50 million to drag us through court. Ain't America great!"

    That's how it works most of the time. Been there, done that. The ol' boys network is still alive and kickin'!

  112. Irene,
    thanks for your thoughts and prayers. I appreciate it very much. Yes, they are fine, but I still worry about them. If I was still living there I would probably have left by now. But, if you are Japanese and have relied on the government/establishment all your life then you would probably listen to what they are saying and not panic. My mother-in-law lived through the war and the depravations that followed. She's tough. She would consider it to be traiterous to leave her country now.

  113. To any of you guys in North America: was there anything new or startling discussed here amongst the 300+ comments over the last 12 hours or so? I am of course up-to-date with the margin increase and blatant front-running selling before that

  114. I've allways wondered, Why comrades in americas whineing so much ?

  115. Turdle,

    I understand your mother-in-law completely. It would be asking her to denounce her entire life and her entire world. It is very, very difficult to watch though so my thoughts are with you too.

  116. jaws136,
    I still have the forex account and need to get back to it. I put it on hold to work on learning to trade options! You know how the limited time thing is.. I have to pick and choose and still I don't have nearly enough time to get it all done. I still haven't 'gone live' with the options as I have to be very careful and don't want to make too many avoidable mistakes. ....Forex sounds like fun too!..Glad that you are making a go of it! You are quicker and braver than me!

    Yep.. I'm right here with you! Give me a shout out if you or your family need anything! :]

    Would you go over yonder to the SLX headquarters and give those guys a good talking to. Thank you.

    We should all go long pitchforks for when the people finally figure all this out. You are right.. Being a banker is not going to end up being a good career choice.

    Just very well said.

    NO MORE grumpy gills!!!...*smiling* :]

    ..And to all those, foreign and otherwise, who say what a gosh-awful place the US is now. Who can argue? It's just sad what we've become. I don't recognize my nation. But I don't think it's all that different than what the rest of the world has become. The sad irony is that I thought we expected more of ourselves ..and so di the rest of the world.

  117. Turdle GG - There was much excitement when silver went through 38, and some angst when it got whacked below 37 - angst about the power of TPTB, not the price of silver. Some speculation about the disconnect between gold and silver. Interspersed were spot-on updates by Turd. Discussion as always about percentage of holdings, and specific talk about profit taking because Justin made out like a bandit on two stocks. Nothing earth-shattering so to speak until the whole margin limits bs. And Americans do sometimes forget they are not alone on this planet, but since everyone expects them to shoulder all the planet's burdens, it is not so surprising.

  118. Hey Ginger,

    if you are going to trade forex, check out They have 24/7 coverage with a live former FX trader telling you what's what.

    very good resource.

  119. Here's a link to a special discount on a newly minted commemorative coin.

  120. Atlee, I'd welcome any charting you do on EXK. THe more voices talking about EXK the beter. I'm a rudimentary chart guy, so it's good to hear what others are seeing.

    EXK's had a great run. I just think their CEO should have kept mum about the irons in the fire. Sure didn't help the stock price. I mean, who in their right mind wants to wake up with dilution like GPL today, granted different circumstances if acquisitive. Cooke's words only give me pause. I have to lean more on SLW and CDE for less risk and high returns.


  121. Yukon,
    A man of wisdom be you. As I said the other day, when the yahoos get to yahooing I be flippin calls to puts. mfn $13 april calls @100% (3 days) 4:30am Hawaii time kachingo, still holdin May $13 at 40%. Along with uxg, slw 2012 calls.rolled into slv
    (cause I detest the corruptnosilverhavinassmotherfizzuckers)$30 may puts, that are up 17% in couple hours. We all have a choice of playin THEIR game or playin THE game. 70/30 call/puts accumulate shares, if you must trade pyramid buys and sells. Leave your pom poms at the door, GET YOUR WAR ON ! A hui hou malama pono kakou.

  122. @ Saul,

    "Just a thought : Didn't Wynter say that they would stand for delivery unless silver went to $38? Well...."

    I have a hidden camera video of Wynter talking trash then accepting cash. I can't blame her as she got her own price...

  123. e736,
    Thanks VERY much! ..I am collecting all the resources I can find. ..Got an investing journal full of stuff to research over here.. just added this to it!.. Much appreciated..

  124. What do you guys think about junk silver?

    I went to the bank again (went last weekend too) and got some halves and found a 90% coin.

  125. Have to give it to SGS. He called this margin BS either yesterday or a day before it on his blog.

  126. cmill

    Love junk silver. Love it so much I hate the term "junk". I prefer the term "90% coin". A lot of the people around here complaining about premiums on bullion aught to be buying 90% coin instead. IMHO

  127. I found this reassuring tonight

    First they ignore you, then they laugh at you, then they fight you, then you win.
    Mohandas Gandhi

  128. cmill - that is awesome. What a cool find.

  129. eric#1

    cant argue with a 90% coin for 50 cents!

  130. Ferdinand - that is rather consoling.

  131. Irene,

    There is more coming through your words than just you tonight. Really neat to see.

  132. Hey xty,
    We can always count on you.

    The trading information is great on this site, but the people are even better

  133. I remember last week somebody called AuandAgman said he had rolled over all the contracts but one to see the cash premium thing. He promised to keep us updated but he has never appeared again in the past week. :(

  134. Encouraging..from Sinclair tonight..

    You must realize that on the next trip to $1444, that price will fall to the long term bull market on gold.
    You must realize that $1650, a place where gold will trade, is so low it will be comical looking back from 2015.

    By the way..You almost get from the article that he is getting frustrated, maybe even pissed with Armstrong trying to fine tune targets for the monetary metals

  135. Arcticfox, I just read that. Santa does seem a bit perturbed. It's going to be interesting to see whether Armstrong or Sinclair have the timing right.

    Two times the Euro has closed over 1.4050, per Jim. Now we just need the 3 times gold over 1444.

    This market is about to get violent on the ups and downs. We will hold onto what we have and BTFD.

  136. I went to a fast food restaurant for lunch today. The prices were up about 40% across the board. No wonder that guy pulled gun over the price of burritos. I almost did too. I've been stuck in the office so long that I had not noticed that food inflation has arrived!

  137. the game has and will continue to be rigged, in broad daylight nonetheless, until it collapses. Buying physical gold and silver is the only way to 'win'. As TraderDan said, IOW's, force them to make delivery on the physical - the physical dries up and shorts have to cover thus raising the price upward and so long as the currency is mismanaged, which we know at this point, there is no turning back.

    Looking at this another way, it a solid % around the world traded their paper in for physical tomorrow, they'd pay attention. So long as the conversion is slow, the game continues. For those who were enlightened long ago, they will know better than most, but they'll likely agree when I state that the conversion rate, generally, seems to be increasing in speed.

    Holding physical is the way to 'win', notwithstanding the breakdown of society that they'll force upon us to maintain power and control for as long as they can before the enlightenment.

  138. from Harvey's blog this evening:

    "...I strongly believe that Sprott Asset Management is truly keyed in to the silver and gold dynamics with respect to central bank lending and massive bank shorting as well as the economy in general. Take note of what Chief Executive, Peter Grosskopf, and Charles Oliver had to say today:

    (courtesy Reuters)

    Reuters Summit - Sprott bets on further global uncertainty
    TORONTO, March 23 (Reuters) - Canadian asset manager Sprott Inc is positioning itself for prolonged global economic uncertainty and the possibility of a double-dip recession, believing precious metals will benefit the most.
    "We are still positioning our clients and our firm in general for a very uncertain environment and we still believe that precious metals are the primary beneficiary of the safeguard of value in uncertain times," Sprott Chief Executive Peter Grosskopf said on Wednesday. "We are nervous about a second economic shock here and we are positioning ourselves accordingly," Grosskopf said at the Reuters Global Mining and Steel Summit. Charles Oliver, a senior portfolio manager with the Toronto-based firm, said global economic uncertainty - fueled by huge government budget deficits and liquidity injections into financial systems - will keep pushing precious metals prices to new heights. Oliver sees gold prices at $1,800 an ounce by the end of the year and over $2,000 an ounce in early 2011... The company sees silver prices, already trading at a 31-year peak of $37 an ounce, rising to more than $50 in the next 12 months, and trending towards $100.

  139. Wow, just now looking at silver again since earlier today. It's almost as if today never even happened.

  140. Dr. Jerome,
    I can completely relate to what you just said. I just got back from a quick trip into Kroger to get odds & ends and those odds and ends cost me as much as a week's worth of groceries used to cost me. I truly was in shock ...and I go every week so I did know that prices were going up. ...6oz tuna is now 5oz but costs more. 12oz tuna is $3.99 a can ..and I'm not sure it was 12 ozs. as I was in shock from the 5oz and just kept walking leaving it on the shelf. My kids love tuna salad sandwiches but..sheesh. The large bag of Dunkin Donuts coffee (which I don't buy..but noticed) was up to $16.49 from $14.99 just a couple of weeks ago. Sugar is way up. ..Flour is way up. I do love Coffee Mates flavored Italian Sweet Creme creamer in my morning cup of Keurig was up from $3.99 to $4.69! :O

    I have a feeling we are all going to be alot more distressed over groceries in the near future. Prepare now. ..Get a few extras every single week. Kroger did have a great sale on Dove soap. (2 box pack for $1.49 with a purchase of 10) but's extremely much more expensive to checkout. add insult to injury..when I got home one of the 2 gallons of milk that I purchased which had tipped over on its side on the drive home was half empty and in the floor board of my car when I got back home. Oh good Lordy. Do you know how bad THAT'S gonna smell? ...Time to shampoo the car I guess. "/

    Moral Of The Story: Stock Up!!! ..........(and make sure your milk sits upright on the drive home) "/

  141. on youtube "gary the numbers guy" predicts the future with numbers and he said the other day canada was going to have an ecenomic cris like usa did . he also predicted others that were true and was on michael savage radio show,thats another one you gotta check out also

  142. Ginger- Great comments, as always. I keep thinking about your volunteer community garden (hope its going well?) and what a beautiful, almost subversive thing that is. I mean, you see what is coming, you do not believe the lies from our "leaders" that inflation is nonexistent and under control, and you are putting personal physical work into preparing for what they say will never happen- to the betterment of your family and community. Big, big kudos.

    And for those stressing from the red on your computer screen, just remember- for that red to become permanent TPTB have to turn off the printing presses and that simply isn't going to happen. This, too, shall pass.

  143. Ginger, for some time my wife and I have made a habit of never paying retail: we stock up on sale items, buy 2nd-hand or direct from Hong Kong merchants via Ebay etc, buy in bulk, or repair it.

    I patch/repair my clothes (jeans, shirts, shoes) until they can't be repaired. It used to shock my wife, now she gets it.

    We run a lean household so that we can invest money hand over fist into commodity plays. Any indulgences get spend on our children, not us.

  144. Well played today Blythe. Should have seen it coming. Gold all time new highs, Silver up a dollar to 31 year highs, lots of fresh new longs buying the breakout. Raise margin requirements to stampede them. Last time we had a margin increase it had no impact because we weren't in this position. Additionally we have option expiration tomorrow and gold futures traders rolling positions to the June contract.
    Caught me flat footed and succuming to greed thinking of $40 silver and $1650 gold right around the corner. Well played. If it wasnt Blythe in drivers seat it would be someone else doing the EE's bidding. I admire her timing and I should have seen it coming. Won't get fooled again.

  145. atlee: agree. Won't get fooled again, indeed.

    I keep a trading journal now just for silver. Big entry for today's action, and future strategy.

    As for you, Blythe: this angry global army of ants is onto you, bitch.

  146. I was going to say things were looking up, but looked before posting. It feels like it is more about gold right now.

    Sumo - my husband is more of a saver than me, but I am learning. And I have been buying extra when things are on sale, loading up the basement. But I have a weak spot for the kids, for sure.

    My sister-in-law has one of those grass strips in front of her house, between the side-walk and the street. She started a community garden, each person tending the patch in front of their house. It proved very popular, and the city was okay with not mowing. They grew a lot of squash - much of the dreaded zucchini.

  147. Pining,
    Thank you very much for kind words. ..Since you mentioned the garden..I have to update. We did get the potatoes in the ground 2 Saturdays ago. It was really fun and very heartwarming to see how many people turned out on a Saturday morning to plant! We got a couple of acres of them planted in rows in no time at all. The tractor plowed the rows and then everyone grabbed their buckets of taters and went to work! The small kids in the group especially had a blast. Folks were driving down the highway slowing down to check out what a bunch of nuts were out doing early on a Saturday morning with truck bed loads of potatoes. The informational sign at the street beside the acres we are planting reads 'Isaiah 58 Project'. ...Basically, in that scripture we are instructed to feed the hungry as best as we can. I had to look it up when they announced what the name of our community project would be. lol.

    Our pastor said Sunday morning that he had gone out to the fields over the past week since we planted and prayed over the fields for a good harvest. He said when you are standing out in a feild just off a highway it is amazing how many people will slow down and honk at a guy praying over a field. lol. ...We will be doing tomatoes, cucumbers...bunches of other stuff in the coming weeks. I can't take any credit at all since many others have done the work to get this off the ground. I simply show up when they say come help out with whatever various task that needs doing.

    Thank you for remembering. I took some photos of the potatoe planting and will maybe upload some gardening photos in the future if that's allowed or even possible with the blog here. ..We are definitely preparing for a big harvest!

    ...Your comment about the red on the computer screens (and in my account!) was very encouraging! ...It seems sometimes that 'they ' will always win.. ..but a simple reminder of why they cannot says it all. Thanks!

  148. TF
    Just read the "How and When" article by Armstrong linked by Sinclair, who seems rather critical of Martin's prognostications. Since you are a "pattern" man and so is Armstong, but on a more macro scale, what do you make of his time lines and in particular the focus or fixation on June 13?

    Otherwise, thanks for all your analysis today and all of the other days.


  149. sumo,
    You are quite rare ..for a guy! I am impressed. I have not always been as thrifty as I have learned to be over the past year. I love 2nd hand though.. it's basically what I do for a living now. I buy alot 2nd hand and resell what we do not need. There is good money to be made. ..Well, there was. The economy is putting a dent into even 2nd hand sales.

    Food is something I absolutely need to get better at purchasing. And I have come a long way. My husband likes to grocery shop (weird), he has mostly done it over the past couple of years. We are both learning to be more thrifty in that area as you and xty say. .....It adds up so fast it's shocking.

  150. David

    If you are out there from way earlier today, I just did a high speed flip through of the days comments and noticed you asked a question and I never saw that you got an answer.

    The difference between IPT and ISVLF, etc.

    ONe is the Canadian ticker symbol and one is the U.S. ticker symbol. Same stock, different currencies, though even that is pretty close these days. Which one to watch? Depends where you are. If in Canada, watch the Canadian. If in the U.S. stilll kind of need to watch both. When you go to trade, you are dealing in the US ticker. But often times the volume is poor, and maybe your news source is missing the latest news release or whatever. When I want to really know what's going on, I look up the Canadian ticker, but then I trade in the US.

    Gotta sign off now as the Badgers are ready to tip off against Butler. Go Bucky!

  151. For anyone who is interested to read about the what and why of our community garden... here is the link:

  152. @ Saul,

    "Just a thought : Didn't Wynter say that they would stand for delivery unless silver went to $38? Well...."

    I'm a newbie a this, but it struck me that during this rise, the EE raids were pretty minimal (if at all) and that was for a reason (dont know what, maybe the margin) or maybe to just say, there you go Wynter you got your $38 now back off, watch this and dont bother next time!!

    It also made me aware during the speed of the drop just how much just how much they must be throwing at it to push it down and I reckon they have more firepower to push it further if they wanted, but dont want to be seen to be toooooo blatant...

  153. Thanks very much Eric, I was here ;-)

    Much appreciated, I'll know where to look now.

  154. Ya. That margin hike lasted what? One day?

    The relentless march continues unabated.

    We piss on your stinking margin hikes.

    BTFD w/ BFH.

  155. After all of today's bullshit, I figured you might need a few laughs.
    Therefore, new thread.

  156. Turd,
    Loved the venom in your words earlier today.
    Motivating the "Army of Ants" like me to be even more resolute in my pursuit of the physical.
    Celebrated busting through 36 by purchasing 2 boxes of halves. Worked out nicely, as I made a solid 30% on the investment (no kidding...found Franklins, Liberty, 64's and a bunch of 40%), all as I was having a nice happy hour, and hanging out with my favorite girl. EZ beer money kids!
    Thanks to all of your loyal followers for educating me regarding the miner plays, and to you Turd...You absolutely rock!!

  157. I wrote to Bart Chilton about this.

  158. Oldman,
    I've been following Armstrong since feb. '07.
    I've read everything he's put out several times.When I read this last piece I stopped dead in my tracks when he said something about "making the big bucks". My first inclination was that this piece was a forgery or something because that line and a few others were just out of character. Maybe it was because he was getting out I don't know, but this piece doesn't feel like the Armstrong I've been studying for the past four years. Now Sinclair's diatribe gives credence to my ominous intuition. I'll have to go back and reread it,people's speech patterns are just as telling as their body language.

  159. Hey what do you all think of this video analysis/theory using charts (Turd's expertise) that might predict silver hitting $750 one day?


  160. Hey what do you all think of this video analysis/theory using charts (Turd's expertise) that might predict silver hitting $750 one day?


  161. Letey- Torpedo told the gist of it. You can go to for the entire system.

    As price falls you preset buy orders at determined intervals and usually buy larger each time the price falls more. The key is to not buy too much, too soon and it takes time to learn the discipline. It saves constant guessing and stressing about where and when the bounce will come. Then preset your sells at intervals above each buy. There are all kinds of ways to tweak the system. It is the best way for dumb people like myself to exploit the volatility but it requires that you discipline your emotions so that you buy when other people are angrily selling, otherwise you cannot make money on the bounce. The idea is ultimately to get good enough at it to cover the entire price grid at intervals. Hope that answers your question, best to you, R. please remember to keep your buys at intervals quite a bit smaller than you think is rational since price most often will fall much farther than you think is rational.

  162. I am wondering how long it will take for the people of this country to stand up to this bullshit. Somebody needs to form a group (truth committee or something) that is singularly dedicated to targeting every government official for recall who in anyway engages in or supports any kind of fraud and/or usurping done by the banks. Take the latest move of giving JPM its own vault. Every individual who contributed, seconded, organized or voted in support of this conflict of interest needs to be immediately outed and politically and legally pursued until they go down. The CFTC would be the first to go in such an action. There also needs to be a concerted move to deny banks our money. Some alternative to todays credit cards and banking fee structure should also be started to starve these mothers of funds. Organizing against them should also include a concerted effort to convince the silver longs to stand for delivery (or to get civically minded individuals with lots of money to enter the market with this intention). With the right organization, public education and financial backing this would all be possible. Is there no honorable individual or entity with the necessary clout that is willing to rally others against the fraud and abuse being perpetuated against the common man? Will it take the same 50 years countries in the Middle East have suffered to bring things to a boiling point here? When will people rise against this kleptocracy?