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Revisiting Silver

By iwog   Follow   Mon, 2 Jul 2012, 11:12am   25,953 views   292 comments
In Lafayette CA 94549   Watch (1)   Share   Quote   Permalink   Like (3)   Dislike (1)  

Although it didn't crash as quickly as I expected, the chart is pure bubble crash at this point.

1. well defined parabolic peak
2. well defined bull trap
3. lower highs, lower lows
4. bear market trend that isn't anywhere close to capitulation

I wouldn't touch the stuff under any circumstances unless it drops near $10 an ounce.

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1. Bellingham Bill Follow Befriend 29 threads 1,486 comments Bellingham, WA Premium

   53   7:52pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says So silver can be used as money. So can cars. So can computers. So can homes and dogs and cans of beans. http://reason.org/blog/show/sound-money-tide-as-gold-standard

2. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   54   8:09pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says Not one penny of that newly created cash is being spent on gold and silver, in fact right now it's going into mortgages. Bull Shit. In case, you haven't heard, we are in middle of a credit crunch. This money that the FED is printing is going directly into gold and silver, because, the banks are simply not lending to deadbeat fucked borrowers like you.

3. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   55   8:12pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says You're going to counter a chart that shows 200 years worth of trends with a chart that shows 29? Do you think if I extend this graph another 170 years back, you will see anything as spectacular as what you see now? Being a dumbass that you are, you don't even know that we were on a gold standard before 1933, so the money supply remained pretty much constant for 400 years.

4. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

   56   9:47pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says Bull Shit. In case, you haven't heard, we are in middle of a credit crunch. This money that the FED is printing is going directly into gold and silver, because, the banks are simply not lending to deadbeat fucked borrowers like you. Wow......it's clear you don't even know what credit crunch means. During a credit crunch, the money supply is contracting and thus you have the threat of deflation. I have no idea how you got from "credit crunch" to "money is going into gold and silver" but I'm sure it's intelligent and well thought out.

5. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

   57   9:49pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says Do you think if I extend this graph another 170 years back, you will see anything as spectacular as what you see now? Being a dumbass that you are, you don't even know that we were on a gold standard before 1933, so the money supply remained pretty much constant for 400 years. What do you consider systemic bank failures in 1929-1933? Most people would call it a massive credit crunch. LOL

6. Bellingham Bill Follow Befriend 29 threads 1,486 comments Bellingham, WA Premium

   58   10:33pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunross says Being a dumbass that you are, you don't even know that we were on a gold standard before 1933, so the money supply remained pretty much constant for 400 years ouch. http://en.wikipedia.org/wiki/Panic_of_1819 http://en.wikipedia.org/wiki/Panic_of_1837 http://en.wikipedia.org/wiki/Panic_of_1857 http://en.wikipedia.org/wiki/Panic_of_1873 http://en.wikipedia.org/wiki/Panic_of_1884

7. Bellingham Bill Follow Befriend 29 threads 1,486 comments Bellingham, WA Premium

   59   10:39pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   http://en.wikipedia.org/wiki/Panic_of_1893 http://en.wikipedia.org/wiki/Panic_of_1907

8. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   60   10:42pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says Most people would call it a massive credit crunch. LOL Credit crunch, yes. But, the boom which preceded it was not due to FED's money supply expansion, like it was this time.

9. Bellingham Bill Follow Befriend 29 threads 1,486 comments Bellingham, WA Premium

   61   10:43pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   Interesting: http://research.stlouisfed.org/fred2/series/M1444AUSM027SNBR http://research.stlouisfed.org/fred2/series/A14187USA163NNBR

10. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    62   10:49pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says I have no idea how you got from "credit crunch" to "money is going into gold and silver" but I'm sure it's intelligent and well thought out. Because this high-powered money from the FED has to find an outlet. It's not going into mortgages and getting multiplied by banks using these reserves to create even more money out of thin air, like they did, before. So the money is going into the carry trades, since interest rates overseas are higher than the "artificially low" ones which the banks are getting from the FED. The inflation is not here, but it's being exported overseas, and turning up in terms of bread prices and energy prices in places like Egypt and Libya. Citizens of these countries are buying gold, because, they want to protect themselves against inflation exported by our FED. Foreign central banks are also buying gold with the money they get from our banks. Herein lies the source. Of course midget brains like you and roberto cannot begin to comprehend this reality. By the time you do, it will be too late.

11. Bellingham Bill Follow Befriend 29 threads 1,486 comments Bellingham, WA Premium

    63   10:56pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says But, the boom which preceded it was not due to FED's money supply expansion, like it was this time. The erstwhile Bush Boom required speculative overextension in housing to gain the "traction" that it needed to turn into a bust. Granted, money supply increased, but the reason the economy crashed in 2008 was because the money flow (via anything-goes mortgage lending) from the world's savers to the US consumer was coming to a close. http://research.stlouisfed.org/fred2/graph/?g=d2b is quarterly expansion of consumer debt. http://research.stlouisfed.org/fred2/graph/?g=d2c same graph with Case-Shiller in red. http://research.stlouisfed.org/fred2/series/M3 is, admittedly, an important piece of the puzzle. It was the fuel that found the hole that was our poorly-policed mortgage sector. 2002-2006 the fumes collected, then the explosion of February 2008! First of many.

12. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    64   9:54am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says Because this high-powered money from the FED High powered money? dunnross says has to find an outlet. It's not going into mortgages You have no idea whatsoever how QE3 works do you. dunnross says and getting multiplied by banks using these reserves to create even more money out of thin air, like they did, before. Sooooo.......we're not in a credit crunch? We're in a historical credit expansion?

13. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    65   10:30am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says High powered money? If you don't even know what "High Powered Money" even is, I don't even think I should continue talking to you. You are a true arrogant SOB.

14. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    66   10:35am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says iwog says High powered money? If you don't even know what "High Powered Money" even is, I don't even think I should continue talking to you. You are a true arrogant SOB. I know exactly what high powered money is and it's all sitting at the federal reserve doing absolutely nothing. What I'm trying to figure out is why you think new money sitting in a computer at the federal reserve is being used to buy silver, or even more insanely multiplied and lent out through banks?

15. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    67   10:46am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says even more insanely multiplied and lent out through banks? You are so self-righteous that you can't even read other people's comments. Why don't you go back and re-read them, again, more carefully.

16. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    68   10:52am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says I know exactly what high powered money is and it's all sitting at the federal reserve doing absolutely nothing. Nominated! Federal reserve is holding "crap", not actually something which is worth anything.

17. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    69   11:11am Thu 22 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   dunnross says iwog says even more insanely multiplied and lent out through banks? You are so self-righteous that you can't even read other people's comments. Why don't you go back and re-read them, again, more carefully. Excellent job pretending to have a point but not actually saying anything. If I didn't read your comments, please clarify where my misunderstanding is. dunnross says Nominated! Federal reserve is holding "crap", not actually something which is worth anything. Ahhhh......so your precious high powered money turns into crap when it is put back on deposit at the fed because banks have no one to lend to. Brilliant. dunnross says You are a true arrogant SOB. I'll agree with you that the more intellectually dishonest a person is, the more hostile and condescending I become. It's a character flaw that I fully acknowledge and would like to work on. People who are honest and sincere get along great with me, I suppose that's why I have 51 friends and you have 6 aliases.

18. Bellingham Bill Follow Befriend 29 threads 1,486 comments Bellingham, WA Premium

    70   11:35am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says Sooooo.......we're not in a credit crunch? We're in a historical credit expansion? fwiw: http://research.stlouisfed.org/fred2/graph/?g=d2N yellow is finance, blue is household, and red is corporate debt

19. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    71   11:48am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says Excellent job pretending to have a point but not actually saying anything. If I didn't read your comments, please clarify where my misunderstanding is. What I said was this money is not being multiplied, like before the crash, because banks are not lending it. iwog says Ahhhh......so your precious high powered money turns into crap when it is put back on deposit at the fed because banks have no one to lend to. Brilliant. The FED is buying worthless MBS's with this money. The FED's balance sheet includes these at face value, but, actually, they are worth pennies on the dollar. iwog says I suppose that's why I have 51 friends and you have 6 aliases. When you accuse someone of something, you better have some proof of it. But, for you, of course, it's almost every comment you make that doesn't have any proof or substance behind it.

20. B.A.C.A.H. Follow Befriend (6) 5 threads 2,359 comments

    72   12:16pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   Jeez dunross, does it really matter? getalife.

21. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    73   1:29pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   B.A.C.A.H. says Jeez dunross, does it really matter? getalife. Tell that to iwog and 51 of his Virtual friends (Virtual with a BIG V).

22. B.A.C.A.H. Follow Befriend (6) 5 threads 2,359 comments

    74   4:07pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   You guys don't need some survivalist's web site or whackos in flyover states to rationalize using gold and silver as money. American eagles are $50 gold pieces and silver dollars. There's several dominations of pre-1965 US silver coinage that are money, and even up to 1970 issue on the half dollars. Canadian Maple leafs are $5 Canadian money.

23. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    75   5:27pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Dunross, it is hard to have a conversation with personal attacks like these. They don't add to the discussion, they incite and derail the conversation about silver. I don't respond to your comments because I don't want to be a target like you've made Iwog who I noticed hasn't responded with a personal attack back. You have some good comments and ones that need clarification but it is hard to hear or even read them with these kinds of attacks. I am sorry. I am just tired of both iwog and roberto running the show, around here, insulting everyone right and left, and there is nobody who can stand up for themselves. The type of incessant bragging that they are both doing, and defamatory remarks which they make, dwarfs any kind of insulting words which may come from me. Roberto has crowned himself as king of knowledge, but, actually, he is just a wannabe professor realtor. Iwog doesn't know the difference between High Powered Money and Bank Reserves, but they try to pontificate here, like they are Maynard Keynes and Milton Freedman.

24. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    76   11:04pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says The type of incessant bragging that they are both doing, and defamatory remarks which they make, dwarfs any kind of insulting words which may come from me. dunnross says Unlike some of iwog's and other people's predictions, my predictions have been right on the money every time. I have the record to prove it, as I showed you the link to the post which I posted back in 2006 when I told everyone that I sold my house and bought gold with the proceeds at $450/oz. Note: Gold never came anywhere near $450 an ounce in 2006 and dunross hasn't show anyone any links.

25. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    77   11:12pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Silver is still in a long term uptrend based on this chart. Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/21_The_Roadmap_For_%243%2C000%2B_Gold%2C_%24100%2B_Silver_%26_1%2C650_HUI.html The chart doesn't look bad unless you take into account how long the bull market has run. Markets are driven by the way people perceive the media, how long their memory extends back, and what percentage of people are long. The gold and silver sellers have saturated radio and TV for several years now. It would take an extraordinary number of people all going long to move the markets higher than $50 an ounce and the longer they wait, the more excess supply is going to be available. Silver might yet make new highs, but I don't think so. I can't imagine anyone has been sitting on the sidelines this long just waiting to jump in. Furthermore the media is going to be buzzing next year how another hard asset, real estate, is not only an inflation hedge but earns an income as well.

26. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    78   12:03am Fri 23 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says Note: Gold never came anywhere near $450 an ounce in 2006 and dunross hasn't show anyone any links. I did explain before that I started buying gold even before I sold my house, back in 2005. I also showed you all my links back from 2006, when I was using goldenboy as the only other alias which I had on patrick. Now those links are gone, but, perhaps, patrick can dig them out in his archives. Basically, I told everyone to sell their house and buy gold with it.

27. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    79   12:39am Fri 23 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   dunnross says I did explain before that I started buying gold even before I sold my house, back in 2005. I also showed you all my links back from 2006, when I was using goldenboy as the only other alias which I had on patrick. Now those links are gone, but, perhaps, patrick can dig them out in his archives. Basically, I told everyone to sell their house and buy gold with it. I don't believe anything you say here. I believe that someone who has preached repeatedly that the 2013 market for housing will reach nominal 1975 levels is so completely out of touch with reality that there's no way you could even sign a home purchase contract let alone formulate an investment plan for gold and silver back in 2005. It would be like me predicting silver at $1.25 an ounce by the end of next year. This is not an exaggeration.

28. StillLooking Follow Befriend 27 threads 233 comments Skokie, IL

    80   11:18am Sat 24 Nov 2012   Share   Quote   Permalink   Like   Dislike   iWog, Silver is going higher exactly because real estate is a horrible investment. If the government was actively trying to suppress the price of real estate and increase the price of silver, then real estate would be a good buy. Do you understand this key concept?

29. iwog Follow Befriend (48) 273 threads 12,523 comments 47 male Lafayette, CA Premium

    81   3:59pm Sat 24 Nov 2012   Share   Quote   Permalink   Like   Dislike   StillLooking says iWog, Silver is going higher exactly because real estate is a horrible investment. If the government was actively trying to suppress the price of real estate and increase the price of silver, then real estate would be a good buy. Do you understand this key concept? No. I think it's absurd. The government is not trying to suppress the price of silver in fact I doubt the government employs a single person that even cares what the silver market does. The government is definitely trying to increase the price of real estate however the premise that actions which drive one hard asset up in value would drive the other hard asset in the opposite direction is ridiculous. Both silver and real estate are considered inflation hedges.

30. StillLooking Follow Befriend 27 threads 233 comments Skokie, IL

    82   9:43pm Sat 24 Nov 2012   Share   Quote   Permalink   Like   Dislike   If the government is actively working to raise the price of real estate in relation to other asset classes, then real estate must be overpriced. The government is raising the price of real estate above its true intrinsic value.

31. everything Follow Befriend (2) 3 threads 547 comments Madison, WI

    83   6:42am Sun 25 Nov 2012   Share   Quote   Permalink   Like   Dislike   Market manipulation should be a known. From 2001-2009 dow 8 thousand something to 13 thousand something. Then, a run for the exits! Time to start over. 2009-2012 dow 8 thousand something to 13 thousand something. We did in 3 what it took us ten. Regarding your comment on miners spending billions and billions ramping up mining projects, well, with most metal prices doubled in less than ten years, some in only a few years like this would you not pour as much as you could into expanding your mining operations? I know I would!, and especially while interest rates were cheap!!! Regarding silver manipulation, question is, are they manipulating it up or down at any given investment cycle, and how long do these cycles last.

32. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    84   6:51am Sun 25 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   underwaterman says The banks are offloading this junk to the taxpayer again at full false valuations allowing the banks to theoretically make more loans and increase lending. Why isn't this illegal? Why isn't there a massive outrage or legal actions? Why are we allowing these banksters to get away with murder?

33. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

    85   9:00am Sun 25 Nov 2012   Share   Quote   Permalink   Like   Dislike   Dunnross the answer is simple. The large majority of the population is completely ignorant, only a very small percentage have a very good understanding of all the crap that goes on. Americans are much too busy demonizibg unions for all our problems, arguing about health care, taxes, war, gay rights, and abortion, the things we can actually see in front of our faces and at least pretend to understand. It's ignorance, plain and simple. God bless America!

34. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    86   3:49pm Sun 25 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   underwaterman says they are not helping homeowners. Why should they help irresponsible homeowners/housedebtors? They shouldn't help anyone, because, they shouldn't have gotten this money from the taxpayer in the first place. All these banks should be bankrupt, and let new ones arise from their ashes. Banks which pay people to save money, not to speculate.

35. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    87   7:03pm Sun 25 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says The homeowner while not entirely devoid of responsibility is at the bottom rung of the whole mess. I am sorry, but the bottom of the rung is not the housedebtor. The bottom of the rung is the renter who watched this fake bubble inflate, but was prudent enough not to jump in, and worked his a*ss off trying to save up for the day when his patience pays off, and the market returns to sane valuations. But now, instead of receiving the reward for his prudence he is being told that he has to wait some more, because of irresponsible homedebtors and greedy banksters who need to get their reward, first, for screwing up.

36. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    88   7:12pm Sun 25 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says take away all equity from peoples homes where the average joe stores his wealth and savings When people like you finally realize that there was no equity taken away, because, there was no equity, there to begin with? Yes, that would be the true bottom of the market...

37. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

    89   10:05pm Sun 25 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says All the savers really get screwed because they get no bailout. From the 4 Kondratieff seasons, savers only get one, when they finally come out on top of everyone else. This is the winter season, and this one is theirs.

38. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    90   3:26am Wed 28 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman, Ted Butler is a dubious source. And so is Harvey Organ, See this: http://www.financialsensearchive.com/editorials/townsend/2010/0419.html I also suggest reading the comments section of this podcast: http://www.peakprosperity.com/blog/harvey-organ-get-physical-gold-silver/73933

39. lisalisa Follow Befriend 1 threads 79 comments New Lenox, IL

    91   7:17am Wed 28 Nov 2012   Share   Quote   Permalink   Like   Dislike   Crash JP Morgan buy silver.. &playnext=1&list=PLD0A12B0EC0D8BA4C&feature=results_video

40. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    92   7:02pm Wed 28 Nov 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Contrast the above flawed article against the work of GATA for example and you will see the quality difference in the work of GATA. James Turk is a credible source? WTF, he doesn't know what he's talking about. King World News is another gold/silver pimp site. To really understand the divergence between physical and paper, you need to dig a little deeper. Such as this article: http://victorthecleaner.wordpress.com/2012/11/26/central-bank-gold-leasing/

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