Fortune

Want to have a chat with the head of global commodities at JP Morgue? Come on down and enjoy the party! http://blythemasters.blogspot.com Don't forget to show your appreciation! Remember to keep it clean folks.

Want to have a chat with the head of global commodities at JP Morgue? Come on down and enjoy the party! http://blythemasters.blogspot.com Don't forget to show your appreciation! Remember to keep it clean folks.

Well, I guess they are stuffed. Good luck with that so-called gold purchase. Who wants to bet that those 25 tons (plus their other 14 tons) have been encumbered? When TSHTF it looks like they will be at the back of the queue - behind rich arabs, sovereigns, germans, GLD and SLV.

Folks in the PM blogging world think the comex vault will go empty by the end of july - mathematically-speaking, of course. So expect the unexpected.

Very interesting article by Prof. Fekete regarding silver. China has the trump card. Seems like he's a silver bug too! http://www.marketoracle.co.uk/Article28687.html

Man, when that yellow metal blows, it will an awe inspiring sight. For the first since owning PMs, I'm actually very aprehensive about the world we will be living in when that yellow volcano explodes. Or perhaps like an exploding star would be a better description.

Nervous and fumbling Jeff Christian on Bloomberg. Watch his response to the consecutive raised margin rates in silver on the the CONmex. Enjoy. http://bloom.bg/lh3NYr#ooid=FoeDdnMjqD47qQUuuNko1PiXIA3nHRyF

Superb long article from ZH. The noose is tightening: http://www.zerohedge.com/article/guest-post-anatomy-silver-manipulation-how-low-can-it-go

Is Silver ETF Safe? Blackrock iShares boss on Fast Money. http://video.cnbc.com/gallery/?video=3000020236

Or maybe it's this: http://www.marketwatch.com/story/osama-bin-laden-is-dead-reports-2011-05-01-2321470

Maybe this has something to do with it: http://www.cnbc.com/id/42828370

It's not silly, its epic! Who wants to bet we erase all the losses and finish in the green by NY close time? Back to 45 now...

There's more to this silver bull yet. Until JP Morgue et al finally covers their shorts will I swap some silver for gold.

Yep. If the system somehow holds together then PM miners are an excellent bet. Trouble is, what if it doesn't? I don't blame Morales. Only a nutcase would mine real money out of the ground and sell it for bit of paper with dead preseidents on it.

Yep it's sickening but they will get their comeuppance, don't worry about that.

Folks, it looks like THIS IS (really) IT. I hope you all have your crossbow and bake beans stash ready

Tremendous pressure on the PPT to sit on gold and silver right now. Can they do it? Or will demand blow them out of the water. We will know in these next 48 hours....

Yep. And there are too many unknown variables going on right now in the world. TA doesn't mean squat, considering the event happening right now in Japan.

Scary rumour alert. The jackboots are coming..(maybe) http://www.marketoracle.co.uk/Article26409.html

Looks like a 'Swiss-stair' in gold right now - some big boys are accumulating.

You betcha *wink*

Perhaps this should be in the Fringe forum but still.... I've just listened to Cliff High from halfpasthuman(dot)com. For those who don't know, he's the creator of a web-crawling software that scans the internet for specific liguistics to try and make a prediction about the future. Anyways, he recently stated that the global OTC derivatives system will DEFINATELY blow-up and the cause of this will be gold. This will involve some institution (not necesarily a bank) failing to deliver gold on demand to some very very influential clients. Could be a sovereign state or a billionare, he didn't say. This will lead to a mass panic and a run on all paper within hours. In fact it will happen so fast that it will be too late to the average joe to buy some krugs at his/her local coin dealer. Also this will happen in London, not in New York (could be LBMA?). Cliff didn't give a specific dates but he said it will come. Just though I'd just throw it out there. Interesting rumours and all that. Ties in with what Jim Willie has been saying for a while now.

Yeah. I was so very tempted to swap some silver for gold thinking this is the 'correction' but it didn't materialise. I think there still is bit of downside left to go - perhaps more sideways than down - if you measure your PMs in dollars. Though i'll take another look at around the 35:1 mark

I've given the miners a pass for a couple of reasons: 1) The miner stock price is 'up', measured in dollars or pounds, but what does that really mean? Isn't the currency its measured in depreciating as well, since the underlying asset is becoming more valuable? 2) The volatility will become insane - who has the metaphorical cajones to buy and hold through those wild correction? Only those with nerves of steel. I think the only way you can win this game is to trade the miners (long and short), take the 'profits' and buy physical gold and silver. Steward Thompson says something to that effect. When the whole system blows up, you will still be holding a 'claim' to metal in the ground rather than the actual thing. Stocks are still derivatives (albeit derivatives which are closer to the real uderlying thing than say CDS). Will the companies and the exchanges follow the rule of law in a crisis? Who know? If what many are predicting actually comes true then any form of paper will ultimately become worthless. Personally, I would have farmland over the GDX anyday. But that's just me.

Messers Armstrong in his latest piece has been calling for a potential low in Gold by around June 2011 - which would be very very bullish long term. Price point to watch is 1372. A weekly closing below this means a visit to 1348. A monthly closing below this price means a testing of the 1285 and/or 1150 level. Once that's out of the way, the fun will really begin.