whoops_apocalypse

i think charts are still correct, but the timing is not, if it doesn't work on wednessday close, then charts will become completely invalid. (the gold & silver charts only)

OK, fair enough...

However, if you take a look at the longer term charts, you may note that the ultimate lows do not have to be put in until some time next year i.e. several months from now, if at all. A truly free market will not tell you this in advance of course...

nop, maybe not tomorrow, but it has to be this week. i still think gold & silver will crash (or at least show the signs of a crash), i am not with the market right now, but that's what makes world interesting, different point of views

Why?

An explanation would be useful at this stage...

Oh my, it's all getting rather out of hand, isn't it?

Wachovia Securities won't broker precious metals anymore

 

Dear Friend of GATA and Gold:

 

Wachovia Securities this month alerted its brokers and clients that it no longer would purchase precious metals for brokerage accounts, only shares in precious metals exchange-traded funds. In an explanation given to its brokers, Wachovia said the precious metals markets "are illiquid with wide bid/ask spreads and minimal transparency."

 

Wachovia's letter informing clients of this change is appended, along with an elaboration given to the firm's brokers.

 

This implies that real metal is awfully hard to get these days, and maybe that some brokerages would prefer that their clients not get it.

 

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

 

CONTINUE >>>

Or could it be that their brokers wouldn't recognise a gold bar if it hit them smack in the face these days, as it's been such a long time since they last saw any real precious metals...

Ker is also posting the same on goldismoney.info, very busy posting his charts & predictions to lots of gold/silver forums. Makes me wonder why.

Kinda reminds me of a poster who went by the moniker of 'Twowave' (anyone remember him/her?), who for months was amazinngly accurate with his TA over on the Kitco forum and would post all sorts of wonderful charts for the week ahead, etc.

Then when the big move came i.e. up to +$20/oz, he got all his little followers to go short by posting downbeat charts every week until everyone cottoned on to the fact that they had been had by the time the price breached $15/oz. Needless to say, I enjoyed selling all the silver back them to them at +$20/oz...

Now, I'm not accusing Ker of the same tricks or of being wrong, but just reminding everyone why they shouldn't cling on to every word posted by anonymous entities over the net, especially not mine, else you'll only have yourself to blame should things turn against you.

Bob Chapman has an interesting take on silver...

In a stunning new development, the Dubai Multi-Commodities Center is now putting the finishing touches on the formation of an exchange traded fund for silver with a launch likely next month as demand for silver has surged in the past six months. What may be happening here is that the OPEC nations, and possibly also Russia, are setting up a counterbalance against the collapse of oil prices. You may recall from past issues that we discussed at length how we thought that sovereign wealth funds in oil-rich nations were tweaking gold and silver upward every time oil was smashed by the Illuminist manipulators. The message was, you leave oil alone, or we will send gold and silver to the moon and expose your destruction of the US economy by killing the canaries in the coal mines, thus ringing the gold and silver alarm bells loud and clear. This makes the Illuminists rabid, and induces collective myocardial infarctions among them, because precious metal suppression, especially of gold, is JOB ONE at the Fed. The failure to cap the price of gold was Paul Volcker's only regret as Fed Head during his handling of the inflationary crisis of the late 70's and early 80's, and the privately owned, Illuminist Fed does not intend to make the same mistake twice.

 

The Illuminati have made two major mistakes, and the Dubai exchange may be the OPEC solution to the oil takedown, which is the direct result of those mistakes. The first mistake is that the Illuminati gave OPEC a taste of 147 oil, and then pounded it down to 55. This will not be tolerated, especially after these nations got a chance to experience the huge profits generated by such lofty oil prices. The second mistake is the trashing of silver prices in the face of growing shortages at a time when the above-ground silver stocks are at an all-time low and headed even lower. The shortages are being caused by manipulated silver prices that are below the cost of production, thus causing a collapse in production, and the manipulation of base metals prices into the subbasement is adding to the loss of production because 70% of silver is produced as a by-product of base metal processing. Due to these criminal price manipulations, the gold to silver ratio is now 77 to 1, when historically is should be around 15 or 20 to 1. This huge price imbalance, growing shortage and all-time low levels of above-ground stocks has set up the greatest opportunity to corner a commodity market in the history of the world.

 

The Hunt Brothers would be drooling right now. When they were trying to the corner the market, it was much, much larger by many billions of ounces, and prices were being driven much, much higher, topping $40 per ounce, because there was far less manipulation of those markets than there is today (yes, believe it or not, we once had something bordering on free markets). The Dubai silver ETF may pick up where the Hunt Brothers left off. Since there are only about a billion ounces of above-ground silver stocks left, and because silver is trading at a ridiculous sub-10, ten billion could clean out the entire above-ground silver stock. This is chump change for these wealthy oil sheiks and their sovereign wealth funds. So get ready to rumble as the evil Illuminist scum and the price-gouging sheiks of OPEC prepare to "get it on" in an oil-silver showdown, complete with some very spectacular fireworks to come. Both oil and silver are headed much higher, and gold will tag along for the ride as silver vaults to new heights.

 

In the end we expect some sort of compromise, as $150 oil would take down the entire world economy, which is now teetering on the brink. We should soon see $80 to $100 oil and $15 to $20 silver. Silver may go much higher than that depending on how stubborn the Illuminists become about the price of oil. This is starting to get very interesting, so stay tuned, as one of the greatest financial battles of all time gets under way.

 

Instead of foolishly pumping money into insolvent, zombie banks, the sheiks may well have decided to go after the silver market. Imagine what will happen as those who require silver to make their products see the COMEX gold and silver being funneled to Dubai's ETF. All we can say is, if you were waiting for some precious metals fireworks, get ready, because it's coming. It is now time to load up on precious metals, especially silver. Oil will do well also. As some form of confirmation, we also note the growing open interest in the February gold options and futures contracts. Let the Battle of the Titans begin.

 

CONTINUE >>>

If they're planning to launch in December, then one would have to assume that they've been buying a lot in the past few months or are they waiting for Ker's $6.60/oz?

Due diligence as always and don't take anything as gospel when it comes from Bob C. as the guy does have a screw loose when it comes to predictions e.g. all out thermonuclear WWIII coming soon and all that cobblers...

PS. Sorry Bob if you're watching, but you're sounding like a complete loon as far as geopolitics is concerned...

That's funny, there's a guy (who also goes by the moniker of 'Ker') over on the Kitco forum warning of the same impending doom in the price of silver and convincing others to sell out and to buy back at $6.60/oz in 2 weeks time...

See post no. 727

Can't just be coincidence, so I hope you're right Ker as I'm willing and able to fill up the truck should prices fall below $7/oz.

There again, if it sounds too good to be true, then it usually is...

A sharp retest of the $9.20 level firmly repelled?

Scary stuff indeed...

Skyscrapercity - some cretin accused me on that forum of using multiple personalties...tried to get me banned...because i used 3 full stops...like others here...

 

No I'm not, I was just pulling GF's leg, we were all HPC.co.uk terrorists before it turned into singingpig2.co.uk...

You from SSC too...???

SSC?

What has just happened to gold? +$40 intraday.

 

I guess it has more to do with treasuries...

You don't mean - quantative easing has begun?

PS. Stop putting 3 fullstops after your sentences. They'll think we're the same person and for your sake, I hope that doesn't happen...

All I know is an ounce of gold is fast turning into a monkey for Cockney traders...

Trade a little folks, going long and staying long in this environment is soul destroying no matter what you're into, though this weekend's meeting may be an exception to the rule, but who knows...

VOLATILITY = OPPORTUNITY

Does any body know what just happened to the gold 6 month lease rate? It appears they're paying you to lease gold. Would this have any thing to do with the potential Comex default? Hmmmmmm......

 

Found this article interesting.

 

http://seekingalpha.com/article/100677-mis...gold-could-rise

 

If I understand it correctly, the wider the spread between libor and lease rates, the greater the chance of a price spike. Or have I misinterpreted that?

I noticed this too and the fact that the negative rate materialised on a Saturday of all days and was only available for a brief length of time, suggests that someone important sees a low in the gold price around May next year.

Could be wrong of course, though I doubt it, as it looks somewhat underhanded to say the least...

Surely this is a mistake? $737.10!!!

Ladies and gentlemen, the gsr has gone 1:1.

Just 1,744 posts and 64,286 views on the last thread

 

I notice the stats from March 2008:

 

Most users ever online was 478 on Mar 30 2008, 09:06 AM

 

Expect a lot of activity on here when gold starts motoring up !

Yep, should be a great sell signal like the last time...

Might be a long wait though if many of the top pundits are to be believed. Well, may be within the next 6 to 12 months as it'll take that long for the deflationary fantasy to subside and the hyperinflationary reality to dawn on most of the plebs.

Still, you never know, the COMEX might default before then though I'm sure TPTB will think of something else to keep us all amused in the interim...

An interesting warning from Schiff's sidekick John Browne - not sure what to think anymore tbh...

In the third weekend of November, leaders of the G-20 nations will assemble in Washington for urgent economic talks. There may even be calls for a new Breton Woods to discuss a revised world monetary order. Key will be China's role. It is likely that a major debasement of all currencies will be undertaken to rescue the global economy and with it, the world's politicians. As this proposal gathers momentum, gold is likely to explode in price.

 

However, with the possible exception of countries like Switzerland, politicians the world over are likely to create international rules designed to preclude the holders of gold from making "windfall profits."

 

CONTINUE >>>

PS. Use Adblock Plus (Download) to prevent Rusky sluts from spreading themselves all over your screen by creating the following filter: http://plagron99.popunder.ru*.

Trade of the century...

US Government to secure mortgage market with gold reserves

Lee Jones - 19-Sep-2008

 

The U.S. Treasury Department has promised “hundreds of billions” to save the US markets using its own gold reserves.

President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets.

 

CONTINUE >>>

NOT!!!

Just announced by some bod on Sky News: SEC to ban naked shorting of all equities not just financials...

Perhaps this suggests that the Asian markets will take us to four figures by the morning?

US Treasuries???

I read this with great interest last week...

Achilles Heel, Shock Wave, Transformation

 

Something big this way comes. Events will center upon the arch-nemesis of gold, the USTreasury Bond. Market interference is too huge, for bonds, for bank stocks, for the entire financial sector. Banking system structures are too broken. The pillars of the USEconomy are all in deep trouble, with profound deficits and insolvency the rule of the day. See the USGovt federal deficit (growing fast), the trade deficit (chronically large), the housing negative equity (worsening gradually), and insolvent banks (worse each quarter, despite the denials). A massive shock wave is coming.

 

In all likelihood plans are in place, with events already set in motion, as the plan is probably to be event driven.

 

CONTINUE >>>

Hi Whoops, good to see you back. I think you're spot on here. Some people have a rude awakening today. Especially after all the talk of the credit crunch being behind us etc. This could be a key event today.

Hi GF,

Been very busy of late what with work and finding a new rental to park ourselves in for the next couple of years...

You guys won't believe the things the missus and I have witnessed in the UK property market lately, should start a thread about it really as some of the anecdotes we have would send shivers down the backs of all but the most doom mongerish amongst you. Perhaps after we've moved next week and broadband has been re-established over at the new place which should be in mid June just before the real fireworks start hopefully...

Stay invested you all, as I dread to think what's really lurking around the next economic corner...

An ominous day for the masses it appears...

Stocks tanking, unemployment rising at the fastest pace in 22 years, commodities going to the moon and the US$ resumes its date with destiny.

Could the dollar collapse (this summer) brigade be correct e.g. James Turk, John Rubino, Jim Puplava, et al.?

Well, a hot steamy few months has been forecasted, so make sure you get yourselves some of them gold and silver air-con units just in case...

Has anyone seen this thread on Kitco regarding Paulson's speech?

Bush Administration to do away with Commodity Futures Trade Commission

What affect if any will this have on gold and silver?

 

It seems to be that this is a move to allow the FED to determine the value of all commodities, including precious metals.

 

So how are those who trade PM's going to get around the FED setting the value of their commodities which would prevent the trader from having the ability to set their own price?

 

This is pretty frightening. It's apparent that the FED wants complete control of the economy and wants to be able to set their own prices on commodities rather than their value being determined on the commodity exchange index.

They don't want anyone telling them their strategy of hoarding their STR funds in the Bradford and Bingleys of this world is flawed. They want to blame estate agents and property porn shows for their suffering, when in reality the fault lies squarely with the government agencies that are supposed to oversea banking regulations. They want to feel warm in the fact they are all in it together, when at the same time they are all running around rearranging deck chairs on the Titanic in a mad panic.

 

Most of all they want everyone to stop talking about gold, which is really about inflation, as deflation is what they are all hoping and praying for.

 

There are some posters that get it, but they are few and far between.

And to recall the flaming we used to get off the HPC mods for even daring to suggest that currency debasement was the most likely outcome...

European signatories sell 2.7 tonnes of gold last week

 

Is this substantial enough to have triggered last weeks drop?

Under the agreement CBs are permitted to sell upto 500 tonnes per year which works out at roughly 10 tonnes per week, so the answer to your question is most likely no. In fact they're helping to support the price as their dumping in recent years filled the shortfall in global gold production and now it doesn't...

Silver up 1.5% today and then there is this brewing up...

Silver Shortage gets Worse, Price Drops Again!

 

Three more major silver dealers are reported to be out of silver today: The U.S. Mint, Kitco, and Monex. This, on top of the major dealers yesterday, Amark, Perth Mint, CNI Numismatics, and APMEX, all reported sold out. Further, nearly all of Canada is reported to be out of silver, from Vancouver to Toronto.

 

This is unprecedented, and is a perfect case of market manipulation in the paper market at COMEX and other futures exchanges to see silver prices continue to drop down to below $17/oz. today. Paper promises can be created endlessly, but real silver cannot.

 

This is NOT a case of the dealers getting spooked, and selling out to the refiners just in time, at peak prices. This is a case of the public buying up the stock at coin shops across the world ever since gold hit $1000/oz.. That event finally sparked a little of the public's buying of silver and gold. Thus, the typical coin shop flow of silver to the refiners just stopped in the last few weeks, and especially the last two days.

 

This is NOT a case of the public creating a top with 'everyone' in silver, because nobody's in silver yet. In 2006, only $1 billion was spent on investment silver, which is 0.007% of the $13.5 trillion of money in the banks. As I have long reported, the silver market is so small, there is no room for new investor demand, not even 0.1% of money could be spent on silver, because that would be $13 billion, which would push silver prices to $200/oz., and we are seeing only the tiniest beginnings of that.

 

CONTINUE >>>

"This message has been placed on KITCO's buying board in large red letters. TT

 

IMPORTANT: Due to the volatility of the market, we are experiencing a significant increase in the volume of products that are being sold to Kitco. Although Kitco and HSBC Bank are working hard to stay on top of this, you may experience a delay in your package being processed. We apologize for any inconvenience this may cause, and appreciate your patience and understanding."

 

bulliondirect says:

 

High Activity Market Alert

The precious metals industry is experiencing a substantial surge in activity which may increase the possibility of logistical delays; including customer service response time and product processing (incoming and outgoing). Our goal is to keep our prices competitive while still delivering an exceptional transaction experience.

I was just about to buy more silver thru GoldMoney but realised they chuck a buck on the price of an ounce. I mean, spot rate was $18.86 and they wanted $19.96 Considering I was gonna pick up a tousand ounces, that's $900 or £450 . . . no way Jose

 

I don't remember them being so pricey when I bought silver thru them initially.

 

Anyone know any other way to buy silver . . . apart from an ETF ?

That's incredible as I paid around 2% commission when I last bought silver off GM back in the summer of 2006.

Just goes to show that you can no longer buy physical silver anywhere near official prices, only paper silver. Note they're quite happy to take your physical at the spot price though...