tag:blogger.com,1999:blog-3034901630224544639.post9208320921540990050..comments2024-02-23T05:16:46.265-05:00Comments on Along The Watchtower: Not Buyin ItTurd Fergusonhttp://www.blogger.com/profile/03393759110641882003noreply@blogger.comBlogger50125tag:blogger.com,1999:blog-3034901630224544639.post-62663826401874776882010-12-15T01:07:36.882-05:002010-12-15T01:07:36.882-05:00background please..what is unethical in the MIghtM...background please..what is unethical in the MIghtMakesRight Republic about manipulating prices? Isn't that the whole purpose of capitalist economies? The richer you are, the easier it gets to further distance yourself from the ants that slave in your mines. As an example, smalltown landlord buys all the apartment bldgs in town, then raises the rent in all of them. Them that's got shall get. Why do I sense some outrage or questioning of this completely normal capitalgreed in this culture?Unknownhttps://www.blogger.com/profile/07320569875064536860noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-43458243565063730192010-12-14T13:17:00.312-05:002010-12-14T13:17:00.312-05:00Great thread... getting better every day Turd (btw...Great thread... getting better every day Turd (btw, shouldn't your answers be in "question form")!<br /><br />Back over $1400... looks like the "heads up" the Fast Money guys got ain't goin' so good.<br /><br />Blythe has lots of help (remember Andrew Maguire) she spreads the word the day before, and those in the know pile in to make a quick buck... may not cost her nearly as much as we think (great strength today though... hope they all got burned).<br /><br />SRVSRV ES339https://www.blogger.com/profile/17955738173581128887noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-24331560831559020192010-12-14T12:23:56.623-05:002010-12-14T12:23:56.623-05:00CMT: While SLV follows the futures almost tick fo...CMT: While SLV follows the futures almost tick for tick, PHYS and PSLV lag the futures quite a bit. For one thing, PHYS and PSLV have a hefty premium to NAV and I think they're more likely to follow the actual physical market more. Also, PSLV & PHYS don't have near the volume of SLV and GLD. If you watch them during the day PSLV and SLV can differentiate but by the 4:00 close, PSLV will "catch up" and both finish about the same percentage wise. If someone didn't mind staring at a pc screen for eight hours a day, they probably could day trade PSLV using SLV or futures as a leading indicator.Haraldhttps://www.blogger.com/profile/02951987460019548399noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-17141081157258278202010-12-14T12:22:28.462-05:002010-12-14T12:22:28.462-05:00OK, Blythe, we're kicking some sand in your fa...OK, Blythe, we're kicking some sand in your face. Got the big 3-0 in sight.<br /><br />What are you going to do about it?CO_Danhttps://www.blogger.com/profile/16588538813568400164noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-81022132084881143282010-12-14T12:22:16.929-05:002010-12-14T12:22:16.929-05:00I need some mylanta...there are days that just wat...I need some mylanta...there are days that just watching turns the stomach.Benhttps://www.blogger.com/profile/05287907388364563618noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-3724626091458224052010-12-14T12:13:18.341-05:002010-12-14T12:13:18.341-05:00USDX takin another dump today....USDX takin another dump today....Benhttps://www.blogger.com/profile/05287907388364563618noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-64895346722405670472010-12-14T12:09:14.318-05:002010-12-14T12:09:14.318-05:00Turd --
What do you think is the end game here? ...Turd -- <br /><br />What do you think is the end game here? Do you think that the following scenario is probable? How would you modify it?<br /><br /> 1. COMEX halts deliveries of silver to longs, and <br /> 2. forces longs standing-for-delivery to accept cash instead, and<br /> 3. declares liquidation-only market<br /> 4. Shills say "COMEX is still official." ZHers say "COMEX is meaningless."<br /> 5. PRC opens Shanghai Silver Exchange & promises physical delivery. <br /> 6. Prices in Chinese exchange rapidly diverge from COMEX.<br /> 7. We all get rid of our COMEX bookmarks, and Tyler Durden starts making jokes of the form "When I don't have any silver, I sell it for twenty bucks an ounce."mickhttps://www.blogger.com/profile/15475722872543917281noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-55265033771352161182010-12-14T11:57:28.254-05:002010-12-14T11:57:28.254-05:00Tit: I see your logic behind the idea of JPM being...Tit: I see your logic behind the idea of JPM being short SLV, I just don't think they are. IMHO, SLV was created in 2004 to fill demand for precious metal from the investment community. If the average investor were to crowd into futures and miners exclusively, the subsequent, meteoric rise in prices would rapidly end the game. So, this fraudulent SLV was created to soak up investor demand and it is filled with paper silver.<br />The problem for the EE is that it hasn't worked. Well, it has actually but it is beginning to unravel now because of its sheer size. Would/could JPM begin to actually short their own fund to cover their losses on the Comex? I suppose but aggressively shorting an ETF for which you are custodian seems egregious, even for them.Turd Fergusonhttps://www.blogger.com/profile/03393759110641882003noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-39431707970936918742010-12-14T11:53:27.999-05:002010-12-14T11:53:27.999-05:00Holy sneiky Hamster! "The Powerz might evade...Holy sneiky Hamster! "The Powerz might evade legal responsibility by means of assorted lies and stories, but the end result will be absent gold supply in inventory. No supply, huge demand, and price rises without resistance."Benhttps://www.blogger.com/profile/05287907388364563618noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-46361448490685761242010-12-14T11:41:41.362-05:002010-12-14T11:41:41.362-05:00Cyclist has the dollar destruction and new currenc...Cyclist has the dollar destruction and new currency in 2013 - which makes a lot of sense for all the "Cyclists" out there!<br />BTW Cyclist has Gold peaking in Q1 2012. Thereafter you get the next deflationairy spat.Lothttps://www.blogger.com/profile/03806000654193464118noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-65028363812676167662010-12-14T11:39:17.439-05:002010-12-14T11:39:17.439-05:00This - Willie - is the source of that story: http:...This - Willie - is the source of that story: http://goldismoney2.com/archive/index.php?t-7932.html<br /><br />My question is - there should be footprints, definitely if it happens - and the more the buck sells into yearend - the more likely it is. And the same for the opposite.Lothttps://www.blogger.com/profile/03806000654193464118noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-89093627338229284892010-12-14T11:36:44.643-05:002010-12-14T11:36:44.643-05:00Turd, thanks for the reply. There's actually t...Turd, thanks for the reply. There's actually two issues we should separate:<br /><br />1. Can JPM get out from under their shorts in one piece?<br /><br />2. Would a collapse of SLV roil the silver price (at least temporarily)?<br /><br />On the first, if JPM is short SLV, they don't have to buy physical to cover. They can buy back SLV shares at a lower price. If SLV collapses, they can close out their shorts at a massive profit, instead of a massive loss. Just like you could buy Worldcom and Enron shares for pennies after their frauds were exposed. Or you could leave the shorts open until the securities stopped trading permanently and effectively close your short positions at $0.<br /><br />On the second point, I've been reading that SLV is a primary pricing mechanism for physical silver. If it wasn't, JPM's manipulation of SLV would have NO impact on the price of physical. NONE, ZERO, ZILCH. It doesn't make sense to claim that JPM is manipulating the silver price by shorting SLV, and at the same time claim that a collapse of SLV would have no impact on the price of physical silver.<br /><br />Don't get me wrong - any roiling of the silver market from a SLV collapse would be temporary and the buying opportunity of the decade. Once people lose faith in paper ETFs, demand for physical should skyrocket. This is the most logical reason I can think of for the banks not wanting to expose SLV as a sham. As the saying goes, they'd be cutting off their noses to spite their faces.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-78152864433471648602010-12-14T11:35:47.968-05:002010-12-14T11:35:47.968-05:00I realize the volumes are too small to really mean...I realize the volumes are too small to really mean anything. But I do find it interesting that COMEX silver is down while PSLV is up.CMThttps://www.blogger.com/profile/07345951670204944161noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-5835713301937157112010-12-14T11:32:00.487-05:002010-12-14T11:32:00.487-05:00Yes, hammy, the only way all US debts, public and ...Yes, hammy, the only way all US debts, public and private can be re-paid is through significant devaluation of the $. You pay off yesterday's debt with the abundant currency of tomorrow.Turd Fergusonhttps://www.blogger.com/profile/03393759110641882003noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-36817951901522924142010-12-14T11:27:40.160-05:002010-12-14T11:27:40.160-05:00AGoldhamster...that has been on my radar for about...AGoldhamster...that has been on my radar for about 2 years now. In my opinion, it should be on everyone's radar.Benhttps://www.blogger.com/profile/05287907388364563618noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-14132686995876786292010-12-14T11:16:32.504-05:002010-12-14T11:16:32.504-05:00Turd,
I think he's saying that it would colla...Turd,<br /><br />I think he's saying that it would collapse the PAPER market...ALL of them. EVERYONE would want to hold the physical and the whole point of the market is to allow "trust" that you WILL get delivery when due.<br /><br />I agree with him...say it was some "rogue" trader...your "Dark Lord" Ms Masters perhaps? It's well know already she "owns" the market...let her take the fall. Didn't she say she has a house in the islands? Hide out there...joehttps://www.blogger.com/profile/17274069571230807450noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-88342720791130786202010-12-14T11:16:11.685-05:002010-12-14T11:16:11.685-05:00You can see into the future? No wonder you're ...You can see into the future? No wonder you're so good Mr. Turd!RoCoachhttps://www.blogger.com/profile/15137911853961787561noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-88015250116155790682010-12-14T11:15:11.210-05:002010-12-14T11:15:11.210-05:00I know this is off the radars right now - but neve...I know this is off the radars right now - but nevertheless a reminder: <br /><br />http://thecomingdepression.blogspot.com/2010/08/us-government-to-devaluate-dollar-50.html<br /><br />Is that something still on the table?Lothttps://www.blogger.com/profile/03806000654193464118noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-34485834106854261432010-12-14T11:12:16.560-05:002010-12-14T11:12:16.560-05:00Right on cue at 12:00 EST , here's Blythe!Right on cue at 12:00 EST , here's Blythe!Turd Fergusonhttps://www.blogger.com/profile/03393759110641882003noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-91120462745196558092010-12-14T11:05:26.083-05:002010-12-14T11:05:26.083-05:00Tit: I think your logic may be flawed. Why would t...Tit: I think your logic may be flawed. Why would the collapse of SLV cause physical silver to collapse in price? It should be the opposite as all the duped holders of the worthless SLV shares crowd into real physical like PSLV, coins and bullion.Turd Fergusonhttps://www.blogger.com/profile/03393759110641882003noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-32202466636201417922010-12-14T11:01:55.878-05:002010-12-14T11:01:55.878-05:00Darn it those Silver Keisers are sold out.Darn it those Silver Keisers are sold out.Ruihttps://www.blogger.com/profile/01381363570926076708noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-1858161397385727062010-12-14T11:01:19.418-05:002010-12-14T11:01:19.418-05:00Turd, I have an important question for you. Please...Turd, I have an important question for you. Please help me understand where my logic is wrong on this:<br /><br />Assume JPM is manipulating the silver market through massive naked shorting of SLV, and that SLV doesn't have nearly enough physical to back the paper. Why couldn't the banks' nuclear option be to expose SLV as a sham? Like any other stock exposed with a failure in accounting (Worldcom, Enron, etc.), why wouldn't SLV collapse to ZERO, allowing JPM to close out its horts at a massive PROFIT instead of being buried in a massive loss?<br /><br />What am I missing here? Is it that as custodian of SLV's physical reserves, JPM would go down in flames with the ETF? What's the likelihood that they could wriggle out of that outcome? - after all, none of the investment banks went down for aiding and abetting massive fraud at Worldcom, Enron, Madoff, etc. Why would exposing fraud at SLV be any different?<br /><br />Is it that exposing fraud at SLV would destroy confidence in paper ETFs and drive demand for physical through the roof, destroying the banks and central governments who are short or who have leased out their clients' precious metals? So therefore, they'd never exercise the nuclear option of exposing SLV?<br /><br />I think this is an important question for all of us, since SLV heavily influences the silver sport price (and not vice versa), and that a collapse of SLV would roil prices in the market at least temporarily.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-85877231606587155422010-12-14T10:55:52.696-05:002010-12-14T10:55:52.696-05:00If in fact a BoS is capturing up metal at what app...If in fact a BoS is capturing up metal at what appears to be any price, how does the EE ultimately come out ahead in this game they are playing? I watched to market before I went to bed. Saw this moring in nearly broke $30 and then collapsed. I waited until the raid was nearly over, or at least thought it was, bought a wad of sivr and pslv, picked up $1,500 bucks and sold it. Don't they realize there is always a flip side to the game they are playing and ultimately, the market will find a way to win? They may destroy a lot of players in the process but, the market and thus the remaining players will win. Oh, I like to mess around with the paper silver. My guy just called me and told me the physical stuff I ordered last week is in. Going over to pick it up now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-82642349173050089882010-12-14T10:54:04.917-05:002010-12-14T10:54:04.917-05:00raid comin now........come on blythe I'm count...raid comin now........come on blythe I'm countin on ya........I need the discount...its xmas...kliguy38https://www.blogger.com/profile/00694442242807509636noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-52840556816099220552010-12-14T10:48:13.045-05:002010-12-14T10:48:13.045-05:00DAX - today in NY session - underperforming other ...DAX - today in NY session - underperforming other indices like DOW and SnP is a warning flag for me. DAX in recent months clearly was the strongest index - but as of now lagging.<br />Also NAZ is lagging. Also crude is not confirming.<br /><br />Not sure it means something - but I won't be surprised to see some sort of sell off not too far from here.<br />FOMC related? Europe related? ... no clue, but anyway suspicious.<br /><br />HUI yesterday and as usual just painted what would happen today - that is: nothing, in comparison with yesterday. Hence that frustrating close yesterday. The message in Europe though was to sell - as gold and silver higher didn't match with the HUI's projection. And exactly that happened - a sell. Just follow HUI's footprints.Lothttps://www.blogger.com/profile/03806000654193464118noreply@blogger.com