Yet another silver raid in process…as silver has just taken out $32 to the downside, touching $31.90.
The cartel looks intent on forcing a weekly close below the 50 day moving average near $32.50. While this is an excellent stacking opportunity, should the cartel be successful with forcing the weekly close under the 50 dma, look for further weakness early next week and a test of $31.
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The Cartel has been RADING like crazy as of late. Do you guys think it’s because of the election or something else?
Could it be that the news of China’s just released GDP growth is 7.40%. All the news before was China is slowing down. Oh yeah
like a fast train it’s slowing down my butt! Mixed reports on how our Red friends are really doing.
As far as Rogers is concerned, the only point that I can see that supports his theory on this blog is that out of 25 commodities
listed on Forex live futures all but a handful are green, the rest are all red. Now I know the doc gets pissed when I say this, but
I have never gotten an answer as to why most all commodities tank when Gold and Silver go with them?
I hold physical Silver and Gold, matter of factI bought more Gold Eagles yesterday.
Remember that the Asian matkets are 13 hours ahead of the U. S. markets. The Smash always occurs during the opening hours
of the Asian Markets. Ever wonder why that is?
Silver was up in only five of the last 23 presidential election years. Silver went up more than 5% in only two out of the last 23 election years
Ranger: Which is why you should always listen to more than one side of the story.
Silver, Apple, GE and Microsoft are all doing about the same today. I’m wondering if the central banks are going to come back from tea to levitate the markets or if they’ve suddenly become bored with that.
so much for the boast of wynter-benton and their ability move the price of silver
LOL. There’s still Monday and Tuesday.
Hecklaboy,
Just more BS about Silver I suppose. Yeah where is that guy and his help?
We still have Tuesday left. I don’t think that Wynter Benton is going to raise silver’s price and I hope that they don’t do it since it will destroy my opportunities to stack some cheap silvers.
Ambitious lot aren’t they! Well if you look at the yearly chart for silver it does look like a fun roller coaster. Suggesting it could fall below $30. Which to me is a bit of a surprise considering QE was announced a month ago.
I believe they are trying to keep the USDX near 80.00 or higher for this election season. They lost a little control of it recently with the QE announcement now it seems they are trying to keep it to at least 80.00. So Obama can win reelection. I don’t expect Silver to climb towards $40 until after the election.
When you have a licence to steal backed up by the Fed and the Treasury Dept. you can do these kind of raids. All they are doing is stealing from the citizens and then charging the cost of the theft to the citizens!
It’s rather sad that someone like Jim Rogers refuses to acknowledge that silver is rigged.
Lance Armstrong is the new poster child for the Anglo-American financial empire. No doubt Wallstreet and Congress will be chasing for his signature.
This is why I only buy physical!! The paper players are getting crushed!!
Exactly!
Yeah and that’s true! If you don’t hold it, you don’t own it. Buy silver, crash JP Morgan! Stack the smack!
Time to start saving the cash trash to exchange for real money next week
Insofar as Silver skyrocketing I hope that I live long enough to see it!
Wynter Benton apparently is more myth than fact.
Wynter Benton could be a sly little kabuki play put on by the cartel to assist in the shellacking of the new meat longs that show up, go paper long, and get stopped back out in short order. The ‘group’ does seem to have inside info to make their predictions, yet the big move never quite shows up, does it?
Do the rest of you get anything out of reading financial sites? Or do you just lose the same amount of money you normally would? Myself, I get in trouble over and over again.
Follow these rules and you’ll be OK. Never use leverage. That is for professionals only. Buy physical gold and silver and take possession. And sit tight. Don’t worry about the daily swings. The trend is your friend.
Sorry I’ve been so grumpy lately. I start getting irritable when the thc wears off and forget about continual dollar devaluation.
Besides the shorts and longs in these manipulations, are the PM’s being set up for a financial markets crash? Will the prices of PM’s fall another 10-40 percent from these levels if the stock market corrects 30% or more in the immediate future?
Could be, Thomas. I got into trouble with USLV (3x leveraged) here, but thankfully only had a small allocation into that ETN. Physical is the name of the game.
Never ever buy an ETN for any reason. Unlike ETFs that are actual pieces of ownership in companies, an ETN is merely the promise to share part of any profits that come along with the ETN holders. If the company issuing the ETF or ETN goes bust, ETF owners are in line to get a share of any assets recovered via the bankruptcy process. ETN holders, on the other hand, are not and get bupkis. AN ETN is a note and nothing else… like a Federal Reserve Note. It is merely the promise to pay a share of profits. I have these in my “must avoid” category and suggest that all other investors do the same.
NABOB UPDATE Colonel Drake is blowing his trumpet again….
http://americannationalmilitia.com/latest-updates/
UNDERSTAND: before the system is collapsed, silver and gold will hit rock bottom. There is no doubt that we will see much lower prices before the end of the financial system. In this fashion they will steal what remains and be gone… forever.
Good, as long as they never return, fair deal.
Sage advice UglyDog!
Its nearing that time, you know, T.I.O.L.I. That’s tioli time. When you walk into your favorite silver establishment to purchase some more stacking silver and when you recoil from the price that’s quoted to you, the guy/gal behind the counter says “Take it or leave it”! Ah, I long for that day…and its coming sooner than later.
This 32 something, 31 something, blah, blah, its JUST the PAPER price. The REAL SILVER price is what the holder wants to charge for it. Wait for it……its coming!
It is already starting to happen! The dealers rarely lower silver’s prices with premiums whenever I ask them. I have kept a relation with one coin shop so they give me a lot of discounts. For example, they sold me a silver bar for 0.50$ over spot, two silver Maple Leafs for 2$ over spot for each of them.
This down tick in commodities, precious metals and equity smells like a fear factor liquidation event
It very well could be, AG. The strange part of this is that when people start to panic, they invariably run from and towards that which they should not. As others here believe, I believe that there will come a time when gold and silver will be so valuable that no one will be able to buy them at any price but that those who have them will be able to buy virtually anything they want or need.
My grand parents told me what their lives were like in the 1930s. They were in their mid-30s, so were self-supporting adults at that time. They told me many times how dear money was and that neither they nor their friends or relatives trusted paper money all that much. Gold and silver were money then. While gold was scarce, silver was more common and it was not unusual for many families to have some stashed away for the rainy day that everyone knew would come someday. When someday arrived, their small silver stash came in very handy, as did their small farm. They were better off than most townsfolk, even though they did not have much money. They bartered for most things, using farm produce as their money. Butter, eggs, chickens, pigs, and everything they could grow in their acre sized garden was taken to town via horse and wagon and either sold to those with money or traded with those who had things they needed. Times got so hard that Gramps finally turned from being a law-abiding farmer to a bootlegger. He always thought it strange that people who would not buy a young pig for $2 always had a dollar for a pint of his sour mash whiskey. Gramps was not in this to make big bucks. He was in this to make enough to keep him and his family alive during the worst financial collapse in US history. I’m sure that the local cops knew this but they never hassled him about it. He also hunted and fished out of season and with no license but only to feed his family and friends who were even worse off than he was. He was a good man, tough as nails, and honest as the day is long. But when hard times pushed him to the limit of his endurance, he pushed back.
American spirit, you will see it rise again in the rural areas when the dollar collapses. Many out here are close to self sufficient still with large gardens and enough chickens/pigs/cattle to eat and trade.
When you hear someone tell you on the interenetz that they are going to win over Blyth master on 16th. You know shit is going to move, the blyth way. LOL
It’s about time! Although, it took the cartel multiple attacks on silver’s price to bring the price below 32$ per ounce. According to the strait line on the silver’s chart from the 2008 lows to the recent 27$ lows, silver never went below it for four years. Right now, silver won’t go lower than 29$.