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View Full Version : Silver just spiked again!



Kelly
18th September 2008, 13:06
Go look at the charts, folks! :D

Kelly
18th September 2008, 13:09
Gold has also gone to $903! :D:D:D

Sushi
18th September 2008, 14:13
There is a major shortage building up as more an more people want to buy PMs... I think we´ll watch the prices rise to new heights pretty soon

Argentum
18th September 2008, 15:06
Keep in mind we might see some slowing as we climb. The folks who are just not used to seeing such vast swings may take their funds out of SLV and the like and call it a day. Just a thought....

Kelly
18th September 2008, 15:19
Well, today's gains in silver and gold just bit the dust when the DOW started rising again. It's a real bumpy ride today...

Sushi
18th September 2008, 15:20
You are right, this can still go either way (short term that is). Just today I was talking to a close friend of my mother, a retired gentleman with a lot of cash. He bought some gold after I was practically begging him to do so when it was around $800 (for the record, I think he shouldīve invested in silver too but I knew he would never do that because of the 7% or 19% tax). Now that he sees his gold rising against the fiat currencies heīs already thinking about selling it at $1000. I tried my best to make it clear that all he would get in return would be (ultimately) worthless pieces of paper - the very thing he should get away from. Many more investors might think along the lines of this guy though. The vast majority still hasnīt realized that itīs game over soon.


Keep in mind we might see some slowing as we climb. The folks who are just not used to seeing such vast swings may take their funds out of SLV and the like and call it a day. Just a thought....

digger
18th September 2008, 15:25
...and the rollercoaster takes another dip...$12.10 / $860

There goes all of today's gains in 45 minutes. :(

...but don't worry, it should bounce back upward again soon...

Don't you just LOVE rollercoasters

edit: Hey, where'd all my Mr Grn icons go??

Kelly
18th September 2008, 15:31
Gee whiz Sushi, you sound just like an American! :D We've all been saying precisely the same thing here!

nuslvrkwen
18th September 2008, 15:52
Sushi is talking about the mind set people have about investing in the first place. For a whole decade now, the international investment 'experts' (talking heads to us) have been 'educating' the world about nothing but super short term investing as a way to GET CASH! Leveraging is also ENCOURAGED in order to 'make some money on the market!' LAME!!! :confused: Investing is a way to grow wealth!

The elderly guy with the cash, and my kid's god father are about the same! I've been working on him to buy PMs since I started back in February! It amazes me these people think nothing about buying something as an 'investment' so they can sell it when it reaches a certain amount NOT taking into account how long it could TAKE to reach that amount, AND the fact that what you're buying here with PMs isn't NECESSARY to SELL so quickly to realize a big gain!! :smile: It's hilarious! The reason WE are the new rich IS because we realize this fact!

Sushi
18th September 2008, 16:09
Gee whiz Sushi, you sound just like an American! :D We've all been saying precisely the same thing here!

Uh...err... thanks? I hope I sound like a "good" American though. I know there must be plenty of those left over there!

Sushi
18th September 2008, 16:16
I couldnīt agree more, people are caught in their turbo-capitalism mindset (that worked for a while). It is difficult to understand what goes through their minds, but eventually they will all wake up to the increasingly cruel reality. Only it will be too late for most to preserve more than a tiny fraction of their former wealth. We might be the new rich, but still it saddens me that, despite my best efforts to the contrary, I will have to watch many friends lose their lifetime savings


Sushi is talking about the mind set people have about investing in the first place. For a whole decade now, the international investment 'experts' (talking heads to us) have been 'educating' the world about nothing but super short term investing as a way to GET CASH! Leveraging is also ENCOURAGED in order to 'make some money on the market!' LAME!!! :confused: Investing is a way to grow wealth!

The elderly guy with the cash, and my kid's god father are about the same! I've been working on him to buy PMs since I started back in February! It amazes me these people think nothing about buying something as an 'investment' so they can sell it when it reaches a certain amount NOT taking into account how long it could TAKE to reach that amount, AND the fact that what you're buying here with PMs isn't NECESSARY to SELL so quickly to realize a big gain!! :smile: It's hilarious! The reason WE are the new rich IS because we realize this fact!

Kelly
18th September 2008, 16:37
Hey guys, check out the silver charts on kitco. It's pretty obvious that all the paper shorts are using NY Globex for their trades. Anybody know why the DOW is gaining back everything it lost yesterday? Is there good news somewhere I haven't heard about?

digger
18th September 2008, 16:40
U.S. Stocks Rally Most in Six Years on Plan to Shore Up Banks

http://www.bloomberg.com/apps/news?pid=20601087&sid=auGWRLRSChQQ&refer=home

mark2112gum
18th September 2008, 16:45
Looks like Socialism/Communism is rearing its ugly head in the US (free) market (again)!!!

And yet, the US dollar stays strong!, (the economies of the rest of the world must really be in sad shape).

Kelly
18th September 2008, 17:09
Yes. This sentence certainly concerned me...

"Any actions regulators or other entities or players take to try to slow down the bear raids will be received positively...''

That's a bit too ambiguous for my tastes. Just exactly WHO is "other entities or players"? I also thought the term "any actions will be recieved positively" open for grabs as well.

Anybody got a clue?

Tribal Warrior
18th September 2008, 21:01
Yeah, DOW up 400pts on news that the Government might buy these bad debt securities. WTH? How can that news be positive? Gold/Silver back down to around 860/12. Dollar has strengthened!!! This is insane reactions.

Go ahead Paulson blow the whole dang markets up!!!

Kelly
18th September 2008, 23:28
Wall Street is obviously delighted to see the taxpayers foot the bill for problems that originated from wall street and the banking sector.
It's not the citizens who created this mess. They are cheering because the government just made us responsible for their bad debts.

Kelly
19th September 2008, 11:56
Today, I have to admit my surprise at seeing tremendous gains in BOTH the stock market and in Silver while gold has hardly moved at all.

Generally, when the stock market records good gains, we see silver take another plunge.

Do you guys thing today's curious goings on could be attributable to the new SEC rules on shorting? If not, what do you think is happening?

JaySpizzy
19th September 2008, 12:42
Today, I have to admit my surprise at seeing tremendous gains in BOTH the stock market and in Silver while gold has hardly moved at all.

Generally, when the stock market records good gains, we see silver take another plunge.

Do you guys thing today's curious goings on could be attributable to the new SEC rules on shorting? If not, what do you think is happening?

My guess is that the funds previously used to short PMs are now at least partially being employed to shore up the markets.This is "leveraged" and timed expertly with the reaction to Paulson's plan. If its true, its pretty brilliant on their part. It would also mean hyperinflation has begun.

Kelly
19th September 2008, 13:00
Well, when I look at today's silver charts, this is literally the first time in months that I don't see the HUGE spike down indicating massive short selling. The London market made the same ban on naked shorts as America did, and I think the China market also followed suit.

What we see is a nice quiet move up, slow and steady without any big dips, so I am wondering if the short sellers aren't thinking the ban applies to PMs as well. We'll all have to wait an see.

In the meantime I am gratified by todays silver chart. It's the only good news I see in the wake of the big bailout of Wall Street.

Aksura
19th September 2008, 13:03
My guess is that the funds previously used to short PMs are now at least partially being employed to shore up the markets.This is "leveraged" and timed expertly with the reaction to Paulson's plan. If its true, its pretty brilliant on their part. It would also mean hyperinflation has begun.

frankly speaking...the move of "short" silver is a brillant move.

1) people pull out their money from gold and silver, to be back in the stock market as it is cheap, with news of US bailout AIG and resuce economic package.

2) stock market index up and to create illusion that it is the end of the storm and recovery has arrive.

3) it also fight back inflation as USD get strong.

how does this lead to hyperinflation? (sorry, i don't study economic, all my points come from newspaper and discussion with friends.)

JaySpizzy
19th September 2008, 14:43
frankly speaking...the move of "short" silver is a brillant move.

1) people pull out their money from gold and silver, to be back in the stock market as it is cheap, with news of US bailout AIG and resuce economic package.

2) stock market index up and to create illusion that it is the end of the storm and recovery has arrive.

3) it also fight back inflation as USD get strong.

how does this lead to hyperinflation? (sorry, i don't study economic, all my points come from newspaper and discussion with friends.)

The Paulson plan is extremely inflationary, and PM bullish. Also, I was suggesting that there was actual money poured into the equities to drive them higher at the exact moment the Plan's existence was announced yesterday. It would take a huge sum to do that - whichever way you look at it, folks, we got a growing money supply with no brakes.

nuslvrkwen
19th September 2008, 14:53
The Paulson plan is extremely inflationary, and PM bullish. Also, I was suggesting that there was actual money poured into the equities to drive them higher at the exact moment the Plan's existence was announced yesterday. It would take a huge sum to do that - whichever way you look at it, folks, we got a growing money supply with no brakes. - JaySpizzy

The trick now will be to stay as far away from this 'cash flow' as possible! That should be pretty easy seeing as all new money printed goes to pay the bills due. Even with the bail out, we with PMs know this plan is going to fail. Let's look at how well it will have worked a year or two from now. So those with no debt like myself - we know there's NO WAY we're going to go out an get loans to do anything. Don't own any real estate, no re-valued property taxes to pay. Keep credit card purchases to nothing! The money to pay them off is considered income to the banks!! The other people who've been living like they were rich through the use of debt will not be sleeping soundly for the next year. They couldn't have been sleeping very well all this year either. Nothing like the full realization you've bought yourself into slavery!

Kelly
19th September 2008, 14:55
whichever way you look at it, folks, we got a growing money supply with no brakes.

It surely does look that way, and while I know runaway inflation will make silver prices surge, I am so very heartbroken by what this is going to do to my country. My family came to America on the ship that followed the Mayflower and I know every ancestor I've got is rolling over in their graves today.

And I think Thomas Jefferson must have surely called for a moment of silence in heaven as our countrys' forefathers mourned their shattered dreams come to naught.

I am just weeping inside. I don't know what else to say...