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Here is the answer to your question regarding dealers, Mr Robski!

Big Al
March 29, 2013

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By the way, sorry about the exuberant Studio Dog!

Discussion
30 Comments
    Mar 29, 2013 29:02 AM

    i have to agree! is it my imagination or is silver getting hammered worse than gold??? if it keep going down i”ll sell my junk & buy even more silver!!! dw

      Mar 29, 2013 29:45 PM

      gold/silver ratio is moving up—-not steeply but a low slope.

      Mar 29, 2013 29:29 PM

      dw…G- S ratio..55+…Yes silver is getting hammered…You know why, silver is the money of the people, & “THEY” dont like the people holding REAL money, that’s why JPM have been ORDERED to keep the price down… patience our time will come.

      Mar 29, 2013 29:03 PM

      No, dw, I don’t think so.

      Cyprus scared a few people. Some of the wealthier of those people bought a bit of gold, but not silver…in panic, the gold goes first, particularly for those with some bucks. And while gold and silver waver, gold therefore wavers a little less. I wouldn’t say either is getting “hammered” in real-time terms, though compared to their peaks on the 2 year cheat, perhaps. Compared to the decade trend, both metals are quite strong.

      Through hard-core take-downs and tampering with lease rates and shorting, gold and silver may not move as much in 2013 as some have expected, but here we are with Cyprus just out-of-the-blue, after pundits and headlines have boasted that Europe was out of it’s troubles. Ireland = 4 million people. Iceland = 300,000 people. Greece = 4 million people. Cyprus = 1 million A large part of me doesn’t want to see it happen, but Spain = 47,000,000, Italy = 61,000,000, France = 65,000,000 When bank deposits get raided in those nations, it ain’t goin’ to be funny anymore. (apologies…it’s an expression, indicative however of weight the rest of the world gives to the financial problems of these nations).

      By the way, I’m not seeing the gold-bug name calling today that I saw 5 years ago, or even 2. Sure, there’s still some, but it’s declining. There is a slow, shifting recognition by many that the bum-wrap they imposed and wished upon PM’s isn’t happening. This kind of demographic change, by necessity, had to occur before any wide-spread interest in gold would occur.

    Mar 29, 2013 29:15 AM

    http://www.wnd.com/2013/03/why-texas-wants-its-gold-back-from-the-feds/ An interesting note, Texas wants it’s gold back from The Fed, and why not? Cyprus and trust is what it’s all about. DT

      Mar 29, 2013 29:19 AM

      Been following this story for a few weeks now. Thanks Machine Gun!

      Big Al

    Mar 29, 2013 29:44 AM

    I guess I’m stupid, but I don’t understand how aN EU country can put on banking controls. First the EU is supposed to be a free trade area. Suppose I take a non-vat-taxable item from one EU country to Cyprus and sell it. Suppose it sells for more than 10K euros, the supposed limit. How is it possible to transfer payment out of Cyprus?
    Does this not violate at least two provisions of the Maastricht Treaty?
    Have the Eurocrats really thought things through or did they just establish a new level of bureaucracy which will take six months to get forms printed?

      Tex
      Mar 29, 2013 29:53 AM

      Looks like the EU government trumps the law……sort of like in the USSA’s TARP…..GM…etc….

      Mar 29, 2013 29:06 PM

      That just came out last week, CFS. By telling the banks to impose this on their own depositors, and not using government law, it skirts around law. The banks comply with the “suggestion”, as they face bankruptcy otherwise, and possibly “a fart in their general direction” from the rest of the EU if they don’t.

    Mar 29, 2013 29:16 AM

    Over the years I’ve change stockbokers several times, until I gave up taking their advice and went to a discount brokerage. (Three different ones actually)
    The following shows me how wise it might be not to trust your broker:
    http://www.zerohedge.com/contributed/2013-03-29/wall-street-craziness-back

    Mar 29, 2013 29:24 AM

    And YES, IT DOES MATTER WHERE YOU STORE YOUR PMs.

    http://news.goldseek.com/GoldSeek/1364575872.php

    It’s not just confiscation to worry about.
    You need to worry about movement of currency if you sell your PM.

    I hope I never need to sell mine, but I also like to cover all possibilities.

      Mar 29, 2013 29:33 PM

      cfs….if people dont store it at home….then they are fools.

    Mar 29, 2013 29:32 AM

    Has David called another bottom in silver yet?

    Mar 29, 2013 29:37 AM

    I assume Kitco just not showing correct values for silver. It was showing $28.70 and a jump down to $28.22. The last price I show out of Europe, today, was at $28.62 on the ask, and Kitco usually stays fairly close. LBMA closed yesterday, but the Dealer Network price is still up and changing every once in a while, whatever that means. (There can’t be much trading going on)

    Mar 29, 2013 29:50 AM

    This is scary:

    http://news.goldseek.com/GoldenJackass/1364601600.php

    It is bad enough when things happen over a normal weekend.

    In gold I trust, I think. I hope….. (I am not a christian, or I would be praying too.)

    By the way, Big Al, that is ezine, as in magazine, but published on the web. For once it was not one of my many typos! And it was the content I was saying, it should not be so, about.

      Mar 29, 2013 29:02 PM

      cfs…read the article earlier & yes it really gets the old brain working overtime.
      The Press in the west have played this thing down…..That what i like about the internet , i can find real & honest reporting on the thing’s that really matter.

        Mar 29, 2013 29:58 PM

        What really matters today is having a pint of Guiness and watching the girl’s go by, make sure you are wearing sunglasses so your girlfriend or wife can’t see your roving eye. DT

          Mar 29, 2013 29:36 PM

          DT…..how true….Guinness allows the mind to see more clearly.

    Mar 29, 2013 29:56 AM

    CFS or anybody, can you do a stockcharts.com $SPX:$COPPER going back more than 3 years?
    They sure are going different directions…

      Mar 29, 2013 29:57 PM

      I went back to 1999. Although the spx has risen more than 50% vs. copper since 2011, it is still down about 75% since 1999. In other words, copper is still up almost 4 fold vs. the spx. In 2011, it was up 6x.

        Feb 03, 2014 03:18 AM

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    Mar 29, 2013 29:02 PM

    Thanks Matthew.

      Mar 29, 2013 29:42 PM

      Barry, thanks for bringing this up. I decided to go back to the end of the last secular bear market in stocks in 1980. That year began with an spx/copper ratio of just 81(!). The 1999 peak was 2,191(!!!). It dipped to 343 in 2006 and is currently 460. It is now the most overbought on the monthly chart since 1999.
      If the s&p consolidates its recent gains by going sideways rather than down (due to the Working Group on Financial Markets), a repeat of the 1980 ratio of 80 would mean $20 copper. Stephan Leeb has mentioned $80 copper, so this target is rather tame. Whatever happens, copper currently seems a much lower risk (for longs) than common stocks.
      http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets

        Mar 29, 2013 29:32 PM

        Copper…I believe JPM is big in copper, & just look at what they do to silver…..
        JPM…The government’s bank !!!!!!!!!!!!!!

        Mar 29, 2013 29:01 PM

        Yep I was guessing S&P to copper might be close to what it was in ’99, so does this mean conventional markets going to correct soon? PS I don’t really know much, but thought about Dr.Copper the other day. Or does the PPT manipulate copper price too? lol.

          Mar 29, 2013 29:45 PM

          I believe that the stock market is very manipulated for political reasons. I doubt that copper is heavily manipulated. For instance, the 4 largest traders are short less than 10 days of production. This is meaningless when compared to the 135 days of production that the 4 largest traders are short silver.
          At today’s copper price, the s&p would have to be well over 6,000 to match its 1999 value in copper. However, it would be just 275 if it reached its 1980 copper value.
          Whether the market corrects much in dollar terms or not, I expect it to correct very sharply in terms of many hard assets, including copper.

    Mar 29, 2013 29:24 PM

    Al,

    Thx for getting David Morgan on the line, I appreciate it.

    Before I go any further, let me put on my Silver Lined Headgear!

    From all of my research on the web, I have come to the conclusion that the price of silver has been seriously manipulated. I’m a great believer in EROEI (energy return on energy invested). The era of cheap oil is long gone. From what see/read, the miners cost price to bring phyiscal silver to the market is now somewhere near the mid $20’s.

    With Ben Bernanke’s policy of Ctrl+P and the leveraging of paper vs physical, how soon is it til the CRIMEX (COMEX) has a “spiritual moment” (ie default)? That is the reason that I posted the link from silverdoctors. I am a little disappointed that David Morgan didn’t even address this issue, (even though he has in the past).

    Just to let you know, I’m in the camp w/ Irish Tony. I believe in silver so much that my ratio of holdings (physical, no paper here) of Silver to Gold is ~ 500 to 1.

    I would also like to thx all the ppl that contribute on this blog.

    Mar 29, 2013 29:02 PM

    I didn’t even bring up other issues that bother me:

    Fiat fractional reserve banking.
    Rothchilds & Rockefellers.
    Economist who believe that capital controls are a good thing.
    Monsanto & GMO’s

    Whoops, forgot to take off the headgear. Take care, have a great weekend!

      Mar 30, 2013 30:10 AM

      A doctor OZ show just claimed that silver fillings can be causing things like alzheimer’s and the like. When you drill down into the show it is the amalgam fillings with mercury in them that cause the problem. The fillings are guilty by association for their colour not the content but you would not have known that from the advertisements.

      Maybe the term Rock and Roll is an euphemism for Rockefeller and Rothschild.

      GMO’s scare me more than anything because life can go on normally but we are still subject to this danger. Eat your veggies and victory gardens be damned.

      Dan

    Mar 30, 2013 30:08 AM