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klava
Penny Pincher Member
USA
192 Posts |
 Posted - 10/10/2008 : 14:09:19
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I just noticed that both took a huge plunge today. I would actually like to see silver settle at about 7 an ounze for about a year lol then i could buy some.
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byro007
Penny Collector Member
USA
399 Posts |
Posted - 10/10/2008 : 14:10:42
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I am wondering the same thing down over 2.00 on silver its just crazy right now
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n/a
deleted
146 Posts |
Posted - 10/10/2008 : 15:16:02
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| A lot of big traders in other stuff were selling off to cover other bad (non PM) investments...I wouldn't worry |
Edited by - n/a on 10/10/2008 15:16:25 |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/10/2008 : 16:48:18
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| Its because margins calls are being made. Phillip Morris among others took a beating today as well. |
"99% of all lawyers give the rest of them a bad name" 
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fb101
Administrator
USA
2856 Posts |
Posted - 10/10/2008 : 17:05:29
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| If it's true that margin calls have been pulled, then one might resonably assume bottom, no? |
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Nickelless
Administrator
USA
5580 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/10/2008 : 18:31:01
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It's because I bought 140 ounces of silver today and an ounce of gold on tuesday. Who needs market manipulation when I'm buying. |
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Think positive. |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/10/2008 : 19:05:54
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quote:
Originally posted by fb101
If it's true that margin calls have been pulled, then one might resonably assume bottom, no?
It was on Fox news radio today.
Here's a story: You must be logged in to see this link.
Wow no one is safe.  |
"99% of all lawyers give the rest of them a bad name"
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/10/2008 : 19:42:38
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quote:
Originally posted by Ardent Listener
It's because I bought 140 ounces of silver today and an ounce of gold on tuesday. Who needs market manipulation when I'm buying.
I just wanted to add that my wife was thrilled when she learned that I sealed the silver deal today. When it comes down to fiat money issued by big spenders or PMs long term, she knows were she wants to place her bet. |
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/10/2008 : 20:06:55
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I could not sleep last night so I flipped on CNN and watched the bloodbath in London, Paris, Tokyo, Hong Kong, and everywhere else. The commentators and reporters were talking like there was no bottom in sight and the world was about to end perminantly. Even being in cash was thought to be a problem due to inflation fears.
Not surprisingly, in North America, everything dropped today as well. Oil is almost 1/2 where it was just a few short weeks ago. The Loonie sank as low as 82 cents before closing at 84 cents-a long ways off the 1.10 we were enjoying a few months ago. This makes ZERO sense given the state of the US and Canadian economies, except that Canadian commodities took such a hit today.
There was a little stock rally in Canada and US at the end of day to make everyone less depressed over the weekend, but I expect there will be more bad news next week.
On one bright note, the Canadian Government said they would buy 250 billion in federally insured higher ratio mortgages. They were very careful to say these are performing assets, and they will make money for the government. The finance minister stated correctly that this IS NOT A BAILOUT.
Here's my take. This mortgage buying by the Cdn Govt will enhance liquidity for Canadian banks that are facing any inability to package up these good loans as mortgage backed securities for sale into New York.Personally I think it was a very wise move. The government will be able to resell these later when markets return to normal.
G7 or G8 finance ministers meeting in Washington this weekend for emergency session. Will see what that brings. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/10/2008 : 20:10:53
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| I have never been a huge manipulation conspiricy fan, and I do believe that there are many factors for today's silver price drop, but if I were TPTB and I didn't want Jack & Jill Public withdrawing bank money and putting it into PMs as TSHTF, I would make a dam good example out of a tiny (silver) PM market while I still could. |
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/10/2008 : 20:22:55
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quote:
Originally posted by Ardent Listener
I have never been a huge manipulation conspiricy fan, and I do believe that there are many factors for today's silver price drop, but if I were TPTB and I didn't want Jack & Jill Public withdrawing bank money and putting it into PMs as TSHTF, I would make a dam good example out of a tiny (silver) PM market while I still could.
What could TPTB do to the silver market as things look right now? Keep up the paper scheme to inflate the apparent supply? Or something worse? What would the worst-case scenario be that TPTB could wreak on the silver market? |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 10/10/2008 : 20:35:39
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quote:
]What could TPTB do to the silver market as things look right now? Keep up the paper scheme to inflate the apparent supply? Or something worse? What would the worst-case scenario be that TPTB could wreak on the silver market?
Unleash the geologists. Maybe they have some a few big mines tucked back. If they subsidized silver mining and opened the smaller "unprofitable" mines maybe they could do a short term market flood, or make people think one was coming. Couple that with paper manipulation and I guess it could spike the price quite a bit to the south.
I know nothing of these things, or how these markets work, so keep that in mind. |
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/10/2008 : 20:36:34
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ardent Listener
I have never been a huge manipulation conspiricy fan, and I do believe that there are many factors for today's silver price drop, but if I were TPTB and I didn't want Jack & Jill Public withdrawing bank money and putting it into PMs as TSHTF, I would make a dam good example out of a tiny (silver) PM market while I still could.
What could TPTB do to the silver market as things look right now? Keep up the paper scheme to inflate the apparent supply? Or something worse? What would the worst-case scenario be that TPTB could wreak on the silver market?
They may have already done it or let's say they drive it all the way down to $8.00 or less paper silver by selling short. Jack and Jill Public will look at it and say this stuff is worse than the stock market!  Gold is not going to look good too then. The key is to keep the money in the FDIC protected banks and not into PMs. The banks will be able to put it back into the market without Jack's & Jill's blessing. But once it is buried five feet deep in Jack's backyard it's going to stay there for a long time. But while PMs are cheap, the good old boys of TPTB will have pleanty of opportunity to stock up on the stuff themsleves. Why do you think they are still running those sell your old gold & silver adds now? |
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/10/2008 : 23:31:25
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quote:
Originally posted by Ardent Listener
It's because I bought 140 ounces of silver today and an ounce of gold on tuesday. Who needs market manipulation when I'm buying.
Your fault and mine too! I finally found a source for ASEs and picked up 15 yesterday $18.15 per (no shipping) |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/10/2008 : 23:51:20
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My bad! I have to accept a portion of the blame also. Bought 29 Walkers and Franklins at 9.1 Tuesday and then foreign silver and a couple of gold coins at spot on Wednesday night.
Now from what I read in legacypac's post, I even have to wait for my forex in Canadian coin to recover.
Bet I have a hard time finding silver to buy reasonable at the coin show tomorrow.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/11/2008 : 10:35:44
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ardent Listener
But while PMs are cheap, the good old boys of TPTB will have pleanty of opportunity to stock up on the stuff themsleves. Why do you think they are still running those sell your old gold & silver adds now?
Are you saying that people with pull in the financial markets are essentially paying off bullion dealers to call in the gold and silver?
Oh no, if we are talking about the same thing, the people who are buying bullion, 14k gold and sterling silver over the television or at their shops are doing it for an 'honest' profit with no conspiricy with the big boys involved. But I'm starting to doubt that after it hits the refiners it will ever see the coin shops in the form of physical bullion. Jewlery may be different. I don't think those in power worry too much about new 10-14k jewlery on the market because at best it will only be used for so long and then recycled back again. Jewlery may be a barter item someday, but it is not a great money unit or means of exchange. |
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/11/2008 : 10:44:09
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quote:
Originally posted by Ardent Listener
Oh no, if we are talking about the same thing, the people who are buying bullion, 14k gold and sterling silver over the television or at their shops are doing it for an 'honest' profit with no conspiricy with the big boys involved. But I'm starting to doubt that after it hits the refiners it will ever see the coin shops in the form of physical bullion. Jewlery may be different. I don't think those in power worry too much about new 10-14k jewlery on the market because at best it will only be used for so long and then recycled back again. Jewlery may be a barter item someday, but it is not a great money unit or means of exchange.
OK, so where is the PM going after it ends up at refiners? Is that where TPTB are buying it off and not returning it to general circulation? |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/11/2008 : 11:07:58
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ardent Listener
Oh no, if we are talking about the same thing, the people who are buying bullion, 14k gold and sterling silver over the television or at their shops are doing it for an 'honest' profit with no conspiricy with the big boys involved. But I'm starting to doubt that after it hits the refiners it will ever see the coin shops in the form of physical bullion. Jewlery may be different. I don't think those in power worry too much about new 10-14k jewlery on the market because at best it will only be used for so long and then recycled back again. Jewlery may be a barter item someday, but it is not a great money unit or means of exchange.
OK, so where is the PM going after it ends up at refiners? Is that where TPTB are buying it off and not returning it to general circulation?
If I were TPTB then I would be trying to cover some of the paper PM contracts out there with it. If any of us think a run on the banks would be bad, then just think what a run to take delivery would look like. |
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/11/2008 : 18:12:37
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ardent Listener
If I were TPTB then I would be trying to cover some of the paper PM contracts out there with it. If any of us think a run on the banks would be bad, then just think what a run to take delivery would look like.
Yeah, because you can't exactly print the equivalent of FRNs to give people the same security that they have in holding physical PM. Well, you could invest more in ETFs, but...OK, never mind.
Someone with more knowledge of the silver future market my be able to say for sure, but I have heard stories that the future contracts state that they can pay you the FRN value of your silver instead of the silver delivered to you even if you want to take delivery of the silver. True or false now, if there is a run of investors to take physical silver delivery what is to say that congress couldn't or wouldn't pass a law saying they can ration out the silver only to industries that are vital to our nation's defense or security? The rest of u.s. will get paid in good old greenbacks. |
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Think positive. |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/12/2008 : 15:01:39
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Here's a note from Mumbai India. The rupee has been dropping and gold hit a record high in the last couple of days, but this is part interesting.
Gold and silver plummeted in New York on Friday after Wall Street posted another big loss and forced investors to dump holdings in precious metals. Gold dropped as much as 9.6% on Friday, reversing sharp gains as a wave of panic prompted investors to dump assets across the board to meet liquidity needs.
You must be logged in to see this link. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/12/2008 : 15:08:44
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quote:
Originally posted by fb101
Here's a note from Mumbai India. The rupee has been dropping and gold hit a record high in the last couple of days, but this is part interesting.
Gold and silver plummeted in New York on Friday after Wall Street posted another big loss and forced investors to dump holdings in precious metals. Gold dropped as much as 9.6% on Friday, reversing sharp gains as a wave of panic prompted investors to dump assets across the board to meet liquidity needs.
You must be logged in to see this link.
With our luck PMs will be back up on Monday. |
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All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/12/2008 : 15:55:15
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Here's another sign of hope:
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COMEX December $1,200 call options currently have 24,000 contracts of open interest, by far the most popular among all the different strike prices.
The second highest were the $900 calls with 18,000 lots, followed by the $1,000 calls with 17,000 lots.
When heavy interest lines up at a particular strike price, it can indicate where the underlying market is headed, or at least where options traders think it is.
A put option confers the right to sell something at a particular price and time.
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source: You must be logged in to see this link.\10\12\story_12-10-2008_pg5_11 |
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What happened to silver and gold?
Forum Locked
