Are Asian Traders Preparing A Major Squeeze Of Silver Shorts?

Tyler Durden's picture Submitted by Tyler Durden on 11/01/2010 09:25 -0500

Eric SprottJamie DimonJohn Embry

Some distributing news for the precious metal cartel, courtesy of King World News:

A King World News contact out of London has confirmed that, “Massive Asian buying is going to squeeze the shorts in the silver market.  Any reactions in the price of silver will be heavily purchased, and these buyers will take delivery of physical silver.”  The source who wishes to remain anonymous agreed with Eric Sprott that this squeeze could take the price of silver to $50 in a matter of months.

I have recently been discussing a coming commercial signal failure with John Embry, James Turk and Eric Sprott.  As previously mentioned, this is an extremely rare event but when it occurs it is a sight to behold.

Right now, sentiment levels are nowhere near what we see at a top.  Keep in mind that Rick Rule was recently discussing with KWN the possibility of future supply shortages in silver, and we are also not seeing the type of dealer activity that is suggestive of topping behavior.  These factors are all supportive of a significant move higher in the price of silver.

Read full report here.

With spot having been halted just south of $25 earlier today, courtesy of what was likely another major paper shorting assault on the metal, it will be interesting to see what the timing of this supposed retaliation, if the rumor is valid, by longs will be.

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by CH1
on Mon, 11/01/2010 – 09:26
#690413

Sure hope it is true, but I’ve ceased pinning my hopes on someone riding in to save the day.

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 09:31
#690431

Less “saving the day”, more “ruining my ability to stockpile more”.  I, personally, would love to have another year to stockpile silver, but it looks like that time may be drawing to an end.  

Once we have a close above $25, I’ve got to take the family out to a swanky dinner.  Once we have a close above $50, I’ve got to buy a nice travel trailer so we can go on a big vacation together.  This is the deal I made so that I had free reign with the savings to buy what I wanted.  Now that we are bordering on $25 here, the family is getting pretty excited.

Login or register to post comments by hedgeless_horseman
on Mon, 11/01/2010 – 09:38
#690444

You might be better off taking a page from the Swiss playbook and buying each of your family one of these:

http://www.dsarms.com/Imbel-FAL-Standard-Rifle-308-Cal-21-Original-Imbel-Barrel—IMBEL58/productinfo/IMBEL58/

To this day, every male, when he turns 20, is issued a full automatic military rifle and required to keep it at home. Universal service in the Militia Army is required. When a Swiss is no longer required to serve, he may keep his rifle (converted from automatic to semi-automatic) or his pistol (if he served as an officer).

http://diodon349.com/Attack_on_America/swiss_guns.htm

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 09:41
#690478

That would be nice if we got FALs for just the cost of going through marksman training.  

But I’ve certainly got plenty of firepower.  More than we can use at once.  Was thinking about picking up a .50 caliber sniper rifle “just for fun”.  Nice for picking off feral hogs from a half mile away.

Login or register to post comments by Xedus129
on Mon, 11/01/2010 – 10:44
#690657

Shotguns > Rifles.  Though I do have a Chinese SKS stored away, and some .308’s also..

Login or register to post comments by dlmaniac
on Mon, 11/01/2010 – 12:26
#691009

Deer season everyone, huh?

I have just loaded some silver bullets into my rifle. Happy JPM/HSBC hunting time.

Login or register to post comments by justbuygold
on Mon, 11/01/2010 – 12:28
#691028

Time to buy more of Central Fund’s Silver Bullion Trust.  Best Silver play of them all IMHO.

Login or register to post comments by MachoMan
on Mon, 11/01/2010 – 13:01
#691124

Just curious, can you really shoot melon sized objects with consistency from 1000 yards?  Kudos to you if you can…  but that is a pretty select group of people…  and training on that .50 is going to cost a fortune.

Login or register to post comments by Canucklehead
on Mon, 11/01/2010 – 11:01
#690704

I had to chuckle when I read your comment.  A .50 caliber sniper rifle is overkill for feral hogs at 900 yards.  Use a blackpowder 45-70 or a 30-30. 

You are so 1899….

Login or register to post comments by hedgeless_horseman
on Mon, 11/01/2010 – 11:25
#690794

900 yards with a blackpowder 45-70 or a 30-30? Nice to know you can still dream in Canada.

Kill you hogs in the trap with a pistol.  Mrs. horseman made some excellent green chili with one last week as a matter of fact.

Login or register to post comments by Canucklehead
on Mon, 11/01/2010 – 14:03
#691314

Sometimes when you are shooting across a valley, that is the only shot you have.  Therefore, you practise.

Since you mention traps, you know hogs aren’t the easiest animal to sneak up on.

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 11:35
#690832

I know.  I just needed an excuse to get one.

If we had feral rhinos, I’d probably already have one.  Especially good against the heavily armored variety.

Login or register to post comments by dlmaniac
on Mon, 11/01/2010 – 12:14
#690986

Every patriotic American should join the squeeze party.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:07
#690552

Good advice, however I think the SWISS went PC and stopped this.

Last (rumor) I heard they were no longer allowed to keep these at home.

Antigunfags are breeding all over the world.Never thought I would see the Swiss lose their mind.

There are two kinds of people who want you disarmed, the IGNORANT, and the ones that want to CONTROL you.

Login or register to post comments by Shameful
on Mon, 11/01/2010 – 10:15
#690576

I’m all for everyone being disarmed…I just want the cops and military to lead by example.  If they are will to go a year without weapons I think we all could 🙂

Strange how the controllers minions always get to be armed.  Either all of us should be armed or none of us should be.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:32
#690618

LOL, funny…………me also.

You think the Crips, n Bloods, and MS 13 would go along?.

Long live Che’!

Login or register to post comments by hamurobby
on Mon, 11/01/2010 – 10:36
#690633

“If they outlaw guns, only outlaws will have guns”

That was a sign in my fathers gun shop 40 years ago.

Login or register to post comments by hedgeless_horseman
on Mon, 11/01/2010 – 10:55
#690683

Gun ownership is one statistic I am certain our government does pay attention to.  Don’t think your vote tomorrow will be heard in DC?  Buy a gun, and unlike elections, you are free to cast your ballot more than once.

Login or register to post comments by -Michelle-
on Mon, 11/01/2010 – 11:16
#690765

All weapons?  It’s going to suck trying to cut things with feathers and cook pancakes on cotton balls…

Login or register to post comments by thesapein
on Mon, 11/01/2010 – 13:17
#691173

That means halting production of my doomsday device… darn.

Can I keep just one warhead?

Login or register to post comments by swissinv
on Mon, 11/01/2010 – 10:07
#690553

already got one of these, not by choice though;)

Login or register to post comments by teaddy bearish
on Mon, 11/01/2010 – 10:55
#690680

yep absolutly but we are given sig 550 not fnfal 

Login or register to post comments by unum mountaineer
on Mon, 11/01/2010 – 09:36
#690455

end of year here. very aggressive

Login or register to post comments by ATG
on Mon, 11/01/2010 – 09:45
#690496

Beware rumours of end times, famines and short running

Login or register to post comments by unum mountaineer
on Mon, 11/01/2010 – 09:48
#690507

hhmmm??…clearly you didn’t understand what i was referring to or saying. if you did, then, clearly you misunderstood me.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:17
#690582

Yes, a tad early, just make sure you have your SPAM, and Vienna sausages…………2012 is the BITCH.

States for sale to the Fed?…wonder how that will fly./

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 11:48
#690895

I’ve been picking up a tin of ham every time I go to the grocery store.  They are actually pretty good, and not too terribly bad for you, when eaten in moderation.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:02
#690535

well, it went above $25.00 yesterday several times………..LOL

It appears we will not be able to retake the Senate.But, Reid is GONE, and so will be Pelosi.

That is bad for the country, good for the metals.

Login or register to post comments by Enus
on Mon, 11/01/2010 – 10:10
#690560

With all due respect, could you explain how having Reid and Pelosi out of office is “Bad for the Country”?

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:24
#690598

Sorry, I should have elaborated, we appear to not have the horsepower to Retake the Senate, (the House is a lock),that is Bad for the country.

Pelosi,will still be there, just not the LEADER.

The good for PM’s is the Dems keeping the Senate, if the GOP, etc, took BOTH, it would slam the metals.( at least for a while).

Hope that explains my post better.

Login or register to post comments by dkny
on Mon, 11/01/2010 – 10:44
#690654

Define “we”.

Also, if there is a deadlock in congress, perhaps that will be good as they won’t be able to pass any dumbass legislation for a couple of years.

Login or register to post comments by Xedus129
on Mon, 11/01/2010 – 10:47
#690662

The legislature is obsolete.  Executive branch is too powerful and will get past any legislative road blocks anyways, look at what Bush pulled off.  What people need to do is get good people in local and state governments.

Login or register to post comments by MachoMan
on Mon, 11/01/2010 – 13:10
#691150

who have been captured through uncontrolled spending of their own and are completely dependent upon the federal government…

at this point, we need the worst of the worst in local government to ensure no meaningful changes are actually made, budgets balanced, debts reworked, etc.  We need people who are too fucking dumb to stop spending and have little care for the consequence except they know they can’t go to their local constituents for the difference…  that would be ideal. 

Login or register to post comments by Enus
on Mon, 11/01/2010 – 11:18
#690775

Roger that! thank you

Login or register to post comments by quasimodo
on Mon, 11/01/2010 – 10:06
#690550

I will certainly take mine out for a swanky dinner as well.

However if it hits $50 all the other half is going to see is $$$ signs, yes, FRN’s that we can spend on other shit. Thankfully she does not even know what the price of metals does from year to year, I just throw some figures at her and she shuts up. The hell with holding onto it in her book.

Login or register to post comments by SheepDog-One
on Mon, 11/01/2010 – 10:12
#690570

Yes but unfortunately it will take $50 to buy 1 gallon of gas too. 

Login or register to post comments by Xedus129
on Mon, 11/01/2010 – 10:49
#690669

When gas is 50$ Silver “should” be much much higher, around 140$ using current metrics.

Login or register to post comments by HitTheFan
on Mon, 11/01/2010 – 10:25
#690600

You can build your stockpile over the next year, around $8 to $10 an ounze.

Just watch the dollar soar, stocks and commodities will plummet, except maybe Gold.

You’ve fallen for the Fed’s feint, hook line & sinker.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:36
#690630

We have a PARADIGMN shift happening here……The Fed, nor JPM, can stop the price rises.

The supply is far to miniscule compared to the NEW World market.

It’s hard to visualize the dollar soaring, worthless POS.

Makes me sick, every day, we wake up with less savings.

Login or register to post comments by SheepDog-One
on Mon, 11/01/2010 – 10:44
#690653

They have a problem, no printer designed can print silver coins.

Login or register to post comments by thesapein
on Mon, 11/01/2010 – 13:27
#691217

Yeah, it’s hard to believe in Santa Oz after seeing behind the curtain.

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 11:59
#690938

If it does, I will gladly buy more at that price, as I have a nice, steady, high paying job (a rarity in this economy, but I have a unique and powerful skill set).

And anyways, how is changing to a different currency “falling for it”?  I don’t really care if the Titanic goes under once, comes back up, and then goes under again.  I just want off.  If I can make money pulling people out of the water, then I will happily do that as well.

Login or register to post comments by Abiggs
on Mon, 11/01/2010 – 11:11
#690746

trailer…?

…I feel for your family

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 11:56
#690904

Travel trailer.  For vacationing.  And bugging out.

Edit:  I should note that this was the price I had to pay for canceling the family vacation this year.  We were going to go on a cruise, but I just couldn’t shell out $3000+ bucks for that when silver was so, so low.  So I put it into silver, and I will be able to use the same amount of money to get a very nice travel trailer with slides.  The prices for such things in dollar terms are declining, and they are outright plummeting in terms of silver.

Login or register to post comments by Doubleguns
on Mon, 11/01/2010 – 09:36
#690456

They will not be riding in. They will come hacking and slashing.

Login or register to post comments by DamnThe Fed
on Mon, 11/01/2010 – 09:54
#690521

Sounds like silver is climbing the proverbial “wall of worry”.

Login or register to post comments by Turd Ferguson
on Mon, 11/01/2010 – 10:50
#690667

 

“With spot having been halted just south of $25 earlier today, courtesy of what was likely another major paper shorting assault on the metal.”For those of you who still doubt the existence of the Evil Empire and their manipulation of PM prices, I re-submit a comment from last week. See below.Now, if a Kansas dumbass can successfully predict price movements on the NY Comex one week in advance, what other conclusion can you draw? Is Turd some type of soothsayer or mystic or is Turd accurately predicting price and date based off of simple understanding of EE motives?
by Turd Ferguson 
on Mon, 10/25/2010 – 21:40
#676756

 

October is not a big deal. Meaningless compared to December.

 

At any rate, gold does need to move convincingly through 1350 for us to see more short term upside. I’m quite certain that it will between tomorrow and Thursday and it will then be allowed to move to 1365 by next Monday. Expect Blythe to throw the kitchen sink at it there so that she can paint the tape with a head-and-shoulders top.

From there, its all up to HellyBenny and the size of his QE. 

 

Login or register to post comments by Treason Season
on Mon, 11/01/2010 – 12:37
#691059

Thanx for the update!

Login or register to post comments by dlmaniac
on Mon, 11/01/2010 – 12:43
#691074

You ought to have a personal blog for people to follow your calls.

Login or register to post comments by Shameful
on Mon, 11/01/2010 – 12:54
#691105

I know I would keep on eye on “The Turd Report”

Login or register to post comments by Turd Ferguson
on Mon, 11/01/2010 – 13:37
#691236

Thank you for the compliment.

I would start a Turd Report blog only if I was conceited and arrogant enough to think that the information I provide was unique. 

Although I think its fun to be considered some sort of gold “expert” around here, I’m truly not. I’ve just been in the gold and silver market long enough to have learned a few things, albeit some rather expensively. Please understand the point of my post above. My insights are not luck nor are they magical. What I do is not complicated. Just understand three things:

1) Gold is on an inexorable march to 1650 and beyond. Silver to 35.

2) The EE truly exists and they will do anything to slow/halt the advance.

3) The EE will lose and, in losing, they will become increasingly desperate.

Once you accept the above 3 assumptions, predicting time and price becomes quite easy. So easy, even a Turd can do it.

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 14:09
#691327

Experience makes an expert, Turd.  If you made a blog, I would certainly read it.  In fact, I kind of wish you would, since your calls have been so accurate lately.  Even if you just wrote a paragraph or two a day talking about the price action, I think it would be well worth it.

blogspot.com is a fairly good free service, I believe.

Login or register to post comments by Turd Ferguson
on Mon, 11/01/2010 – 16:01
#691630

OK, I’ll think about it. Might be kind of fun and it would allow me to insert some charts, too.

I’ll keep you posted.

Login or register to post comments by Hulk
on Mon, 11/01/2010 – 16:17
#691649

Turd World Nation ???

Login or register to post comments by potatomafia
on Mon, 11/01/2010 – 09:30
#690423

Keep in mind that Rick Rule

 

 

The Rick Rule?  You mean like this? 

 

 

Login or register to post comments by The Rogue Trader
on Mon, 11/01/2010 – 09:30
#690427

“I love the smell of Napalm in the morning” and I sure do smell it….

Login or register to post comments by CheapKUNGFU
on Mon, 11/01/2010 – 09:32
#690435

nuthing ‘disturbing’ about it Tyler.

All your squeezes are belong to us, make your time.

CKF

Login or register to post comments by jus_lite_reading
on Mon, 11/01/2010 – 09:34
#690448

If silver reaches $50, the world scene will have changed beyond recognition- it spells disaster ahead. I see $50 before December.

Login or register to post comments by Cognitive Dissonance
on Mon, 11/01/2010 – 09:44
#690492

Silver at $50 would be very nice for the Gold miners. Remember that a by product of Gold mining is often lots of silver.

If selling the mined silver at a much higher price covers more of the overall Gold/silver mining costs, Gold becomes supremely more profitable, even if the price of Gold doesn’t follow silver up. 

Login or register to post comments by ATG
on Mon, 11/01/2010 – 09:47
#690505

Sign of a top when markets sell off on silly too good to be true bullish rumours

Login or register to post comments by Cognitive Dissonance
on Mon, 11/01/2010 – 09:55
#690522

Markets? What “markets” are you referring to?

Login or register to post comments by tallystick
on Mon, 11/01/2010 – 12:21
#691003

I think you’re off on the relative magnitude. The value of silver as a byproduct of gold is low compared to gold. It’s not that important of a source either compared to silver as a byproduct of copper mining.

Login or register to post comments by Cognitive Dissonance
on Mon, 11/01/2010 – 15:37
#691571

While it varies from mine to mine, my understanding is that most Gold mines pull out 10 to 12 ounces of silver for each ounce of Gold. Am I mistaken?

Login or register to post comments by Beanie Baby Bubble
on Mon, 11/01/2010 – 09:34
#690449

Distriburing news indeed.

 

Login or register to post comments by ReallySparky
on Mon, 11/01/2010 – 09:36
#690454

Yipee!  This news makes me a very happy girl.  Death to the shorts!  Can’t wait for the delivery failure headline and the look on Jamie’s face.

Login or register to post comments by flacon
on Mon, 11/01/2010 – 09:46
#690497

I want to see Blythe Master’s face, over at JPM. 

Login or register to post comments by flacon
on Mon, 11/01/2010 – 09:47
#690500

http://gold-silver.us/forum/general-discussion/breaking-jpmorgan-chase-and-hsbc-being-sued-for-‘silver-conspiracy’!/

Login or register to post comments by Al Gorerhythm
on Mon, 11/01/2010 – 10:06
#690551

Have you seen the link where you can participate? Saw it and lost it.

Login or register to post comments by flacon
on Mon, 11/01/2010 – 10:59
#690696

http://gold-silver.us/forum/register/

 

 

Login or register to post comments by hamurobby
on Mon, 11/01/2010 – 09:36
#690459

I would sure like to know when Mr Sprott will get the aproval for his silver trust, that may be the spark that sets it off to fifty.

Login or register to post comments by schoolsout
on Mon, 11/01/2010 – 09:38
#690468

pslv, no?

Login or register to post comments by Ragnarok
on Mon, 11/01/2010 – 09:44
#690493

sweet!

Login or register to post comments by Dingleberry Jones
on Mon, 11/01/2010 – 10:10
#690558

Thank you, sir!

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:12
#690566

Yes, so I read.

Login or register to post comments by rickardswhite
on Mon, 11/01/2010 – 09:41
#690481

Don’t worry it’ll be approved and start trading the day silver hits $50, just in time for everyone buy a top.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:27
#690607

Well, he’s opened it up, where did he get the 20 Million ounces?.

Login or register to post comments by MeTarzanUjane
on Mon, 11/01/2010 – 11:01
#690707

He brought in a silent partner, Mr. JPM.

Login or register to post comments by Pladizow
on Mon, 11/01/2010 – 09:42
#690484

Done – PSLV – Bought last week.

Login or register to post comments by Whatta
on Mon, 11/01/2010 – 11:16
#690763

Ditto. Bought Friday at 9.96. Should be shweeeeet.

Login or register to post comments by hamurobby
on Mon, 11/01/2010 – 09:58
#690529

Ahh, thanks guys, thats some need to know info.

Login or register to post comments by TheGreatPonzi
on Mon, 11/01/2010 – 09:40
#690474

The death of the silver cartel? Finally?

Login or register to post comments by firstdivision
on Mon, 11/01/2010 – 09:40
#690476

Is it 2008 all over again?!? http://www.bloomberg.com/news/2010-11-01/hedge-funds-increase-bullish-bets-on-oil-to-six-month-high-energy-markets.html

Login or register to post comments by Duke of Doubt
on Mon, 11/01/2010 – 09:42
#690482

The Sprott silver trust in in the US and Canadian markets now.  The US symbol is PSLV (physical silver).

Login or register to post comments by MeTarzanUjane
on Mon, 11/01/2010 – 10:57
#690689

OH REALLY! HOW can I buy, buy, buy? Where is the link to the sprott shopping cart? What good is an ad with no linkie?

Login or register to post comments by Thats Mr Dumass…
on Mon, 11/01/2010 – 09:42
#690483

The silver trust is alive I bought some this morning.

Login or register to post comments by JLee2027
on Mon, 11/01/2010 – 12:21
#691005

PSLV – up this morning

http://finance.yahoo.com/q?s=pslv

Login or register to post comments by truont
on Mon, 11/01/2010 – 09:44
#690486

Hmmm….I’m lovin’ it!

I’ll have a Jamie Dimon McGriddle with a side of Blythe Masters Hashbrowns, please…

Login or register to post comments by cowdiddly
on Mon, 11/01/2010 – 09:42
#690487

And in the meantime Jamie Dimon’s balls are starting to look like raisins.

Login or register to post comments by Clark_Griswold …
on Mon, 11/01/2010 – 09:43
#690489

Shorts Squeeze ay, looks the the squirrels will have a few extra nuts to play with,

how nice for JPM to officially sponsor the event.

Login or register to post comments by ZackAttack
on Mon, 11/01/2010 – 09:44
#690491

COMEX will simply do what they did to the Hunt brothers – forbid taking physical delivery. I think King World News is sadly underestimating the extent of nepotism and corruption in these markets.

If the PMs, in BBs estimation, get out of hand, there’ll just be another executive order outlawing their ownership and requiring all citizens to convert them to fiat at a fixed exchange rate.

Login or register to post comments by truont
on Mon, 11/01/2010 – 09:53
#690513

“They can’t have my gold but they can have my lead…”

Hey, NSA forum crawlers:  Just sayin’ !

Login or register to post comments by schoolsout
on Mon, 11/01/2010 – 09:56
#690526

So, the industries that use silver will do what, exactly?

Login or register to post comments by Al Gorerhythm
on Mon, 11/01/2010 – 10:08
#690554

Pay more to stay operational.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:30
#690613

Most of the large users have Hedged WAYYYYYYYYYY out there, at a lot lower number.

Login or register to post comments by NotApplicable
on Mon, 11/01/2010 – 12:23
#691012

So, in other words, they are the ones being picked clean right now. Instead of being hedged, they’ve basically loaned the metal to the Crimex to support physical demand today. I wonder how many of them have a clue?

The further out you buy, the more likely it’s a lie.

Login or register to post comments by ZackAttack
on Mon, 11/01/2010 – 10:34
#690621

There are any number of intermediate steps an exchange could take.

In the Hunt Bros case, CFTC raised margin requirements, limited the number of contracts an *investor* (not an industrial user) could hold and the duration he could hold them, then finally suspended trading except for liquidation orders only in order to drive down the price.

 

 

 

 

 

Login or register to post comments by dhengineer
on Mon, 11/01/2010 – 13:37
#691248

The buyers are not trying to corner the market, they are trying to bust COMEX/LBMA and the Fed.  They are not mere speculators, nor are they playing with nickels and dimes.  They are sovereign funds (China, Russia), major investors, and probably the Arabs.  All of them hold boatloads of USTreasuries, and I suspect that they have overtly threatened Benny and Timmy with wholesale dumping if they cannot get their metal.  Any  bullshit buy/sell rules, or limits on contracts will be scoffed at.  There is no way that Benny, Obammy, or Timmy or anyone else in the US can stop them.  It may look like a poison pill, but they already have tons of PMs, most of it never reported to the IMF, so their PM positions will soar if the dollar tanks as a result of their dumping.  That’s probably why Benny is so Hell-bent on QE2 and buying all available long bonds.  He either has to sacrifice the PMs or the Treasury.  Sucks to be him right now.

Login or register to post comments by SWRichmond
on Mon, 11/01/2010 – 09:58
#690531

This early in the unfolding currency crisis such an act would cause a panic, not end it, by confirming what have been up until now regarded by the bulk of the investing community as mere suspicions or tinfoil hat rumors. 

Login or register to post comments by Pladizow
on Mon, 11/01/2010 – 09:46
#690502

Opinions:

Cash parked in MERKX (basket of currencies other than the dollar).

Options:
1. Sell now and buy silver
2. Wait to see how week unfolds.
3. Dollar cost average into silver

Im having a hard time pulling the trigger with so much going on.

Login or register to post comments by hamurobby
on Mon, 11/01/2010 – 10:10
#690561

If things keep going like they are right now, there will be a pretty large qe coming by the end of the year. My confusion is if the crimex will front run it or not, so I have a small straddle opt trade on slv. Interesting times indeed.

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 13:00
#691121

At these prices, 3 makes the most sense.  Don’t want to go all in and then suddenly get caught in a big fall, but you don’t want to be caught without ANY either.

When I went all in silver, I planned to cost average my way in, with six entry points.  Instead, I went all in after three, as silver had fallen below ten dollars from twenty, my first purchase point.  I bought big again last summer when it fell to ~12.50.  Now, all my monthly savings goes toward silver, or other useful things.

Understand that at the time I was initially considering silver (beyond a few baubles I had picked up as I was first learning about it), there was no make or break news scheduled.  This time could easily be different.

Login or register to post comments by Whatta
on Mon, 11/01/2010 – 13:07
#691140

I was a late start into silver and have been playing it a couple of ways.

One way, I did buy PSLV on Friday. So, long PSLV.

The other way is selling  30-45 day OTM Puts on SLV. There is decent volatility so premiums are nice. So, I make a little if silver continues up by rolling forward the short puts, OR, I gain an entry point considerably lower than present if it is ever put to me.

Login or register to post comments by unwashedmass
on Mon, 11/01/2010 – 09:46
#690503

really says something that the Asians are as fed up with the corruption of our bankers as we are.

you go, boys, you go……no one deserves this more than Jamie Dimon.

Login or register to post comments by JonNadler
on Mon, 11/01/2010 – 10:29
#690601

leave Jamie alone, he’s been very good to me over the years

Jamie assured me silver can’t go to 50, he promised me….but then he also promised it wouldn’t see 25.

 

Login or register to post comments by DoChenRollingBearing
on Mon, 11/01/2010 – 11:37
#690848

JonNadler:

Need to see you in my office ASAP.

Bring your notes on why you fired Johnny Bravo.

Jamie D

Login or register to post comments by JonNadler
on Mon, 11/01/2010 – 12:19
#691000

DoChen, are you from Peru? What do you think if go there to hide for the next couple of years while gold heads to 10000? I’ll take Robot and JW with me so we’d need a big house. Heck with all the kickbacks from HSBC alone, I should be able to live like a king down there.

Jamie likes Venezuela better

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 13:02
#691128

I hope you didn’t get those kickbacks in dollars, Nadler.

Login or register to post comments by JonNadler
on Mon, 11/01/2010 – 14:09
#691329

T: you think am stupid, I take gold only, I mean it’s not like I drink my own kool aid you know

Login or register to post comments by DoChenRollingBearing
on Mon, 11/01/2010 – 14:49
#691434

JonNadler, hahaha!  + $1330

My wife was born there, and we go once or twice a year.  

Yeah, you can live just fine down there, please do take Robot and JW!

As Jamie will likely be tossed to the gators soon, I concur with his choice of bunking with Chavez.  And Chavez won’t kick him out, esp. with constant bribes…

Login or register to post comments by JonNadler
on Mon, 11/01/2010 – 15:13
#691508

Gracias Senor DoChen

Viva Peru, mi nueva patria!

Login or register to post comments by truont
on Mon, 11/01/2010 – 09:50
#690511

With spot having been halted just south of $25 earlier today, courtesy of what was likely another major paper shorting assault on the metal, it will be interesting to see what the timing of this supposed retaliation, if the rumor is valid, by longs will be.

Well, look at what happened the last time silver went up to about $25 in early October.

Silver got aggressively sold, but bottomed out at around $23.  That was when some serious buying resumed.

Eric King’s “deep throat” may well indeed be accurate, even if silver falls 2, 3, or 4 dollars from here.  If silver drops under $20 I’d say there is no “Asian put” under silver, after all.

Login or register to post comments by Oh regional Indian
on Mon, 11/01/2010 – 10:02
#690534

Truont, even sub 20 won’t mean much. End game times can mean huge swings to small stimuli.

At this stage of the game, I think we all just need to make our calls, grab our balls (silver and golden ones) and jump. No looking back, no fear, no right or wrong decisions (single day swings will give people heart attacks, cannot be caught up in it).

I took such a step yesterday and it felt good.

ORI

http://aadivaahan.wordpress.com

Login or register to post comments by espirit
on Mon, 11/01/2010 – 11:56
#690930

Continue to reafirm that $SILVER is a currency.  You don’t see corn, wheat, or pork bellies in any SDR conversion chart.

Login or register to post comments by tmosley
on Mon, 11/01/2010 – 13:15
#691166

Watch closely for a fall in paper silver accompanied by a large rise in premium for physical silver both nominally in percentage terms.  If this is the case, then the silver market will have broken, and true price discovery through the silver dealers will begin.

Login or register to post comments by Kaiser Sousa
on Mon, 11/01/2010 – 09:56
#690525

same shit day after day…silver attempts to break a key resitance barrier n asian trading (24.99 on the way to 25.00) and then n London and NY its sold n attempt to beat back the tide…its so obvious and its do doomed to failure…..

Login or register to post comments by schoolsout
on Mon, 11/01/2010 – 09:58
#690528

when physical evaporates, you will see something different than failure

Login or register to post comments by MeTarzanUjane
on Mon, 11/01/2010 – 11:04
#690719

Agreed, we’ll see the miners and smelters releasing inventory.

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 09:58
#690530

Well,they ain’t sqeeeeezin taday mate.

Pls SQUEEEZE………..

Login or register to post comments by Unlawful Justice
on Mon, 11/01/2010 – 10:04
#690539

Silver coin melt value

http://d.yimg.com/a/p/rids/20101031/i/r1433985915.jpg?x=400&y=281&q=85&s…

Login or register to post comments by Jason T
on Mon, 11/01/2010 – 10:05
#690546

More propaganda to get the middle and upper middle classes to buy silver while Ben decides to do a 180 on the money printing sending silver back to 8?

As much as it makes 100% sence for a big trader to take down this silver BS house.. and so easy frankly, with enough money that is and the Asians certainly have money.

 

Am not selling but am not loading boat on silver either.  

 

 

Login or register to post comments by Pladizow
on Mon, 11/01/2010 – 10:16
#690580

The market is expecting QE2 far more than silver is.

So if silver goes to 8, what do you think the market will do?

Login or register to post comments by Shameful
on Mon, 11/01/2010 – 10:19
#690588

Ok, lets say he pulls a 180 and does a Volker.  That kills ALL the banks and forces the USA to default (tax system is based on inflation).  So under those circumstances how good will the full faith and credit of the US be?  If he doesn’t print then he blows up the system he is trying to protect.  If he prints he buys the system time, so which do you think is more likely?

Login or register to post comments by SWRichmond
on Mon, 11/01/2010 – 11:39
#690855

exactly

Login or register to post comments by Max Hunter
on Mon, 11/01/2010 – 12:09
#690968

Zackly!.. Ben doesn’t have the same situation in front of him that Volker did. Simple as that..

The only question is; how much time does he buy with the next QE before the massive dumping of USD’s take place..

My guess is, it will be a very short lived cure as the players involved today have been anticipating and preparing more than we think.

I heard a lady on the radio say it perfectly one day: “it’s like waiting for your dad to come home from work when you know you are gonna get a whoopin”.. LMAO

Login or register to post comments by JLee2027
on Mon, 11/01/2010 – 12:25
#691016

If he doesn’t print then he blows up the system he is trying to protect.  If he prints he buys the system time, so which do you think is more likely?

Buying time just makes the eventual fall worse and farther off. An honest man would have let the system collapse in 2008. By now, we would be rebuilding.

Login or register to post comments by flacon
on Mon, 11/01/2010 – 12:36
#691052

An honest man would have let the system collapse in [strikethrough]2008[/strikethrough] 1929. An even bigger man would not have created the system in the first place on December 23rd 1913.

Login or register to post comments by THE DORK OF CORK
on Mon, 11/01/2010 – 10:34
#690616

Me too , Ben is liable to do anything here – but he has to continue to buy assets of some kind as he has no other choice – the chief asset of CBs is Gold so he may decide to monetize Gold and kill the Dollar outflow along with all the mercantile states.

Just saying.

 

Login or register to post comments by DosZap
on Mon, 11/01/2010 – 10:43
#690652

Come Weds morning, Bernake may be fighting for his JOB.

NO way we see massive QE,not after Weds.

He will be lucky to get by w/100B a month.

We are fixing to see the BEST government we can have,GRIDLOCK.

Login or register to post comments by Shameful
on Mon, 11/01/2010 – 10:48
#690666

Why?  Both the reds and blues love the Fed and seems that Zimbabwe Ben was nominated by Bush and reappointed by Barry.  The politics will love anyone who lets them spend like maniacs on their pet projects.  And it’s not like Ben is up for reappointment anytime soon.

Login or register to post comments by MachoMan
on Mon, 11/01/2010 – 13:15
#691165

they used to love the fed…  now it’s a political liability…  or quickly there becoming.  The only question at this juncture is how much pain we are willing to take in the deleveraging process before we repudiate our debts.

Login or register to post comments by uno
on Mon, 11/01/2010 – 10:14
#690573

It will be interesting to see if the US dollar ramps after the election and QE announcement.  Silver’s reaction to that would be telling, if there is truth to the rumor (which I am betting on), then it will rise with it.

 

 

Login or register to post comments by jesusfreakinco
on Mon, 11/01/2010 – 10:25
#690599

Short ZSL…  There are still shares to short at Ameritrade…

Login or register to post comments by breezer1
on Mon, 11/01/2010 – 10:28
#690609

$30 in 18 days…

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/28_James_Turk_-_Silver_$30_in_Less_Than_18_Days.html

counting down…

Login or register to post comments by Stuck on Zero
on Mon, 11/01/2010 – 10:29
#690612

Everyone knows that there’s only a one percent coverage of contracts by physical metal.  Big traders know this full well.  Why would they risk losing billions on an exchange going defunct when they can buy silver directly from producers and dealers without risk?

Login or register to post comments by Shameful
on Mon, 11/01/2010 – 10:44
#690658

When it’s time to cash up.  If a group did effectively grab enough physical off the exchange to break it that would reflect very well on the metals they already have.  If they want to accumulate, then you are correct they would not psuh on the exchange.  However if they are ready for the revaluation they nuke the exchange and ride the wave.

Login or register to post comments by Stuck on Zero
on Mon, 11/01/2010 – 15:26
#691536

Not exactly smart.  The big guys know that you can topple the exchanges by driving the spot metal prices through the roof.  When the divergence is large enough there is a stampede to exchange contracts for metal.  The exchanges will attempt to protect themselves by handing out SLV and GLD shares in exchange for contracts.  Can SLV and GLD grab enough metals to cover the shares?  Probably, not.  Everyone is deep in naked shorts.  The whole system will come down. Oh the humanity!

Login or register to post comments by Rusty Shorts
on Mon, 11/01/2010 – 10:50
#690673

The Big Boy’s sure are ramping up Gold production around the world, I monitor West Africa, and have never seen job postings like this…ever.

 

http://www.ghanaweb.com/GhanaHomePage/jobs/

Login or register to post comments by OutLookingIn
on Mon, 11/01/2010 – 10:59
#690692

 

 Basic facts: Actual silver (global) physical supply is small. 

Paper silver, ETFs, derivatives, etc. Is massive. Dwarfs physical supply, may actually be leveraged at 100:1

Manipulation will work until it doesn’t. China has drastically cut down on exports and is hoarding her supply. That leaves mountains of paper denonminated silver. They don’t want paper. Stand and deliver. Now please.

What do you mean  – you don’t have it! BOOM.

 

Login or register to post comments by nwskii
on Mon, 11/01/2010 – 11:06
#690730

Lets say we get a squeeze, what would be the best Call Option Play?

Login or register to post comments by samsterns
on Mon, 11/01/2010 – 11:23
#690798

The best way to play it is with options on the double silver AGQ.  If silver gets to$30 (a certainty imo) AGQ is around 145.  If silver gets to $50, AGQ will be over 300.  Currently AGQ is at 105.

The big caveat is that AGQ might not be around to pay you off.  AGQ is a paper vehicle that mimics the price of silver.  If there is a silver default, then how can AGQ be expected to pay?

As long as silver doesnt default (Comex, LBMA, SLV, or whatever) then call options on AGQ is the best option play.

Login or register to post comments by samsterns
on Mon, 11/01/2010 – 11:26
#690800

sorry repost

Login or register to post comments by Abiggs
on Mon, 11/01/2010 – 11:09
#690741

I feel for your family…

Login or register to post comments by Whatta
on Mon, 11/01/2010 – 11:13
#690756

Roger that. Bought PSLV Friday at 9.96. Oughta be a good hold during this tsunami.

Login or register to post comments by asotavb
on Mon, 11/01/2010 – 11:13
#690757

the longs will not be getting any silver, they will get cash settlement while the value of physical goes higher and there cash settlement goes lower.  they will be the ones who will end up vacating not the shorts.

Login or register to post comments by All_the_kings_horses
on Mon, 11/01/2010 – 11:26
#690805

Hi

Just found this swiss website, seems to make it easy to purchase PM’s. They also hold as allocated with the possibility to receive with 7 days notice.

http://suissegold.ch/home.php

As a NON swiss bank they are probably not required to inform the IRS, this needs checking on!

Login or register to post comments by Instant Karma
on Mon, 11/01/2010 – 12:07
#690962

Does anyone really know what’s going on?

Login or register to post comments by Max Hunter
on Mon, 11/01/2010 – 12:15
#690988

Probably not. But some of us are a little more objective and therefore sobering in our views..

Login or register to post comments by Sunshine n Lollipops
on Mon, 11/01/2010 – 13:00
#691122

“Does anyone really know what’s going on?”

 

After weeks of high-level meetings, Mssrs. Fan and Shite will be announcing their findings on Wednesday. ZH “analysts” fear the worst.

Login or register to post comments by Instant Karma
on Mon, 11/01/2010 – 12:11
#690973

Short squeeze? Isn’t that what has already happened?

Login or register to post comments by bingaling
on Mon, 11/01/2010 – 12:40
#691020

Hey guys – off topic a bit but not in the overall picture of things around here . Anybody know of a bank that provides precious metal banking in the west ?

     In other words, I take my fiat deposit it into the bank, my fiat is then converted to precious metal , I am given a check book in a currency of choice and a debit card . When I make purchases my precious metal is reconverted to fiat and payment is made .

   If anybody knows of a bank which does this let me know . The only bank I know who is doing this is ICBC in China and I would rather have a western bank that has some branches (for ease of deposits ) locally . Thanks any suggestions are helpful .

 

 

Login or register to post comments by flacon
on Mon, 11/01/2010 – 12:42
#691071

The closest thing I know if is goldmoney.com, but you don’t get a card or check book. You have to have the funds wired to your “fiat bank” if you want to use it like that. 

Login or register to post comments by bingaling
on Mon, 11/01/2010 – 15:03
#691487

I don’t know why this is such a pain in the ass . Seems there is a market for it

 

Login or register to post comments by bugs_
on Mon, 11/01/2010 – 12:34
#691046

Yer gonna get squeezed by some asians

Login or register to post comments by sudzee
on Mon, 11/01/2010 – 13:20
#691188

Paper silver to $2, premium for physical $48. Seems about right to me.

Login or register to post comments by tony bonn
on Mon, 11/01/2010 – 15:20
#691526

go asia go…..bring it all home and crush the wall street assholes…

Login or register to post comments by Clint Liquor
on Mon, 11/01/2010 – 15:24
#691531

For a Silver Short Squeeze play look at Hecla (HL). 17% of the float sold short. Balance sheet (DYODD) is solid, producing Silver at a -$1.00 per ounce due to by-product credits. Shorts piled on speculating a $200M debt issuance to build a new deeper shaft at the Lucky Friday Mine. Looks like it could be self financed over time with cash on hand.

Login or register to post comments by Kaiser Sousa
on Mon, 11/01/2010 – 16:04
#691634

its everywhere…prosecution is irrelevant as confidence lost n all completley fraudulent debt coupon based markets is the trump holding the house of cards together…

http://www.reuters.com/article/idUSTRE6A03W720101101?pageNumber=1

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