Silver is on sale!
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Original_Intent
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BTFD
seraphson
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You know why it decided to take such a dip? Because I JUST bought 100oz the other day at about 31.5/oz. seeing as it's been a month of rather steady movement. I thought I did good'. NOPE. Sorry Bill not today, not never. Long live Murphy's' Law.
HAHA! Look at that, down $2.65 now! I can't win!
HAHA! Look at that, down $2.65 now! I can't win!
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Johnnybags
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When the only thing on the books with a cap gain for the year is PM's you take the profit to offset the losses. Look for OIL to drop too the next two weeks.
http://www.providentmetals.com/1-oz-999-silver-round-ntr-buffalo.html
Buffalo rounds for .69 over spot
Dr.3D
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Well, you are comparing paper silver to physical silver. There has been a disconnect for quite some time now. There will always be more paper silver than physical. Well, at least till the scam is revealed.
unknown
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The "Federal Reserve" said that they wouldnt be adding liquidity or expanding the money supply, which is good for the dollar. In reality they probably are but publicly.
http://www.businessweek.com/news/20...ne-2nd-day-as-fed-offers-no-new-stimulus.html
http://www.businessweek.com/news/20...ne-2nd-day-as-fed-offers-no-new-stimulus.html
xFiFtyOnE
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Who said anything about paper?
Dr.3D
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That's what the spot price represents.
Edit: I guess I should clarify my statement.
Please do a web search for the term "paper silver" that should start you on the right track.
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Deflation before inflation...
Off the top of my head, isn't this about the dollar gaining due to the Euro falling?
Off the top of my head, isn't this about the dollar gaining due to the Euro falling?
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Also there's always some tax related selling at the end of the year. Gotta love it when government interferes.
Gaddafi Duck
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Question: Am I only allowed to short the futures market if I have the physical gold/silver/wheat/oil in my actual possession? If the answer to that question is "Of course not" then you'll always have more paper than physical. That's the whole fucking point. That's how the system is supposed to work, and it's completely legitimate. How do you think ranchers work? When they have to contract an entire year's supply of soybean meal? They buy product that doesn't exist yet. The crush facility that produces the meal promises it'll be there for pickup at each of the contract dates. The crush facility then buys soybean meal contracts for each month of the meal they contracted to sell to the rancher in order to hedge against volatile prices. The rancher sells soybean meal contracts to hedge their bet as well. This all happens in advance when no product yet exists. Is this a scam? Or is this just how the market has worked for hundreds of years? There's a reason why you can go to the store and buy steak or go to KFC and they'll have chicken, or why there's milk for your cereal, or why there's gas at a gas station to fill your car up with. Because if there was no futures market, we wouldn't have any of these commodities available at affordable prices and there would be countless producers and refiners going bankrupt year after year because they bought a bushel of beans at $14/bushel, only to have their purchase plunge to $10/bushel forcing them to lose $4/bushel because the futures market wasn't there to have them lock in their $14/bushel purchase. And you can't have a liquid or efficient futures market without having more paper than physical. Sorry, but it's a far cry from fractional reserve banking, my friend, if that's what you think it equates to.
See, comments like these drive me up the wall. When people who don't understand the purpose of futures and their role as a risk management tool for the overall market.
There's always more paper everything than physical. That's how the commodities world works...agriculture, metals, energy, that's the entire point of the paper market. It's there to be a hedge device for producers and holders of commodities. If you had to wait until you refined every ounce of silver or grew every bushel of wheat, there wouldn't be much of a fuckin' futures market, nor a purpose for it. THAT'S WHY IT'S CALLED "FUTURES". You contract INTO the future in anticipation of what you have. It's completely legitimate. What happens if you don't have those bushels and someone seeks to take delivery and you haven't closed out of your position? Same thing happens anytime you make a contract on the market and can't deliver. No different from someone writing a contract to have a construction company build a new house. If they don't do it, they better remedy the situation. Same thing with futures.
The vast majority of contracts never go to delivery, and why would they? The futures market is there to make sure prices for producers, refiners, and consumers are locked in so they aren't open ended in case the market moves against them. I mean if you think the entire fucking futures industry is a scam, then you need to step away from the David Morgan BS and actually work with futures to understand how they work.
How do you expect farmers to hedge new crop one year out if the bushels of wheat aren't grown yet? According to you, that's part of the "scam" that needs to be revealed.
I suppose the tens of thousands of farmers across the nation are conspiring as well. Probably not, but having a wet dream that there's JP Morgan and other executives in a dark room "manipulating" silver specifically is pretty entertaining.
And there hasn't been that big of a disconnect between buying physical silver and the futures market whatsoever. I can still buy 100 oz. silver bars for less than $1.70/oz over spot. Not bad when you figure in profit margins for the dealer to buy from the refiner and to sell to someone like myself.
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Gaddafi Duck
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They have been pumping up the dollar index. I guess that would explain some of what is happening.
Who is "they"? This is how markets tend to work. The Dollar has been heavily sold and only recently has it climbed upward. Apparently anytime there's a rally in an asset YOU don't like (Bonds, the Dollar, the Euro, etc.) or a sell off in an asset YOU like (Gold, silver, etc.) then it's someone pumping or dumping. Get real. Look at charts across every market since their existence. You'll find there's periods of big rallies with corrections and huge selloffs with big bounces.
It's how markets work. Gold and silver have had massive rallies since ten years ago. The fact that they're taking a break is hardly an indication of manipulation. Every fucking market works like this. Look around. You'll see rallies, sell offs, corrections, bounces, it's all a part of the market and it doing its job.
But then again, you're obsessing over a day or two's move in the market. That could be why I feel like I'm wasting my time trying to explain this.
seraphson
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What the hell, I got cash to burn (that isn't already reserved for the campaign)...I've been trying to keep my silver to cash ratio 1:1 but now my stored cash is exceeding my silver by 2:1 if not more. I've been watching some stuff from Celente and browsing other opinions and a lot of it seems to go mostly commoties; little faith in dollars. If you were in my position would you take it easy or keep dipping into the silver or even go further and make you cash to silver ratio 1:2?
newbitech
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this is dollar strengthening as a safe haven play. plus commodities have been way overbought, the fed is pretending it doesn't have huge amounts of debt to cancel through monetization, and Euro confidence being trashed. The bad news is, once this trade unwinds and Europe does what it can to salvage it's economy, all eye will turn back to the USD and the revaluation that will occur will be a bigger shock than gold moving 100 bucks to the down side.
ctb619
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Wow! You can pick up Buffalo rounds at Provident Metals for $0.69 over spot.
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