Lol, that’s not a pussycat…THIS is a pussycat:

Did gold really go up 1.40?

Did gold really go up 0.70?

d gold really go up 0.10?   kitco

How can something like the USD which has lost 98% of it’s value be referred too as being stronger? This morning a local diner which I have been going to ‘forever’.  I had (1) blueberry pancake, 3 strips of bacon and a cup of coffee.  With a 2 dollar tip it cost me $12.00.  What am I missing about a stronger dollar?

access openings down for silver. Just normal market action.

Mr. Copper – while I think Grandich is a complete jackass, pretty tough to argue that silver bulls aren’t complete suckers. That includes me.

I read the thing and that clown did not even mention the artificial run up to near $50 that “made” millions of people turn in scrap silver and turn in investment silver, plus producers got a false signal and over produced.

USSR, UK, Europe, Japan, China etc all that were hurt during WW II and every other third world nation out there had a lot of very good years after the war in 1945. In 1945 they were at the bottom of the pit financially. Living standards at their lowest.

Thanks to the Federal Reserve and other global governmental organizations, that “made” the USA consumer and taxpayer help them fight the wars and rebuilt their destroyed nations after 1945.

Once the US real estate market crashed in 2008, the other nations followed us because of that. The USA living standards are in decline since 1975.

The others, only since 2008. This is why I think the global powers are focusing on helping the USA FIRST, with the assumption that if the Americans do good, so will the others later on.

“Silver bulls may eventually be right, but they are still idiots”

Who the hell can argue with that? Nobody.

PM’s are a manipulated joke. G & S should have each been up 2% today like oil, nat gas, copper and gasoline.

Nope. Not pm’s.

If the Shanghai and some of the other cash markets around the world can’t lift pm’s, nothing will.

Debunking false claims made by the Silver bulls

Twitter and other dialog forums on the web are filled with Silver bulls who claim that miners will not mine when Silver prices fall below the cost of production. Unfortunately, many of the claims made by rabid Silver bulls do not stand up to critical examination.

First, global Silver mining production has actually increased despite falling Silver prices, as shown on the graph below. In fact, since 2011, Silver mining production has increased by 8.6% despite a decline in the average annual Silver price of -32.3%. From 2004 through 2011 — a period with booming Silver prices — global mine production increased by an average of 3.0% annually. Global mine production increased by 4.2% annually since the 2011 price top. Read more

Silver bulls may eventually be right, but they are still idiots

By contrast, Gold bulls represent — by and large — a thoughtful group of folks.

As a trader and blogger, I love to have fun at the expense of Silver bulls. No other market I trade has a larger and more obsessed cult following of non-thinking and emotional “investors.”

I tend to be a Bayesian thinker. In my career as a trader dating back to 1976 I have found that most really good traders are Bayesian, whether they even know the term. No way could a logical Bayesian buy into the nonsense believed by Silver bulls. In mean, these are people who believe the Gold/Silver ratio should be 15 to 1 because it was so proclaimed by some Spanish king 500 years ago!

The daily and weekly graphs of Gold and Silver indicate that lower prices are most likely. Key chart levels are giving way, calling for a possible sharp drop from current prices. Let’s review these charts.

The weekly Gold chart is attempting to complete a 15+ month H&S failure pattern. A decisive close below 1240 will complete this chart configuration and indicate a possible target at low as 1040. HERESY! … the Gold bulls proclaim. It must be market manipulation — after all, the destiny for Gold is $5,000 per oz. Read more

oh and by the way I’ve written a few books, please buy them. thanks Peter

PLUNGES TO HISTORIC LOWS is a typical mass media spiel interests, alarmists, exaggeration. The media even exaggerates bad weather. They exaggerate EVERYTHING or people won’t read their crap.

People love excitement and bad sounding news. Even concerning the dumb storm forcasts. They run out and buy all the milk and bread and eggs for a month, and nothing bad happens MOST of the time. Nobody likes good news. Boring. 🙂

re your…

“If Russia’s currency goes down wouldn’t that be good for their oil exports?”

Normally yes. A lower Rubble against a higher dollar would give a discount to an American buying oil from Russia. But there is another variable to consider.

Oil is priced in US dollars, and the high dollar has Oil down on the lower side lately. If they are importing Oil from the USA they would have to pay more.

http://finviz.com/futures_charts.ashx?t=CL&p=d1

If Russia’s currency goes down wouldn’t that be good for their oil exports?

Hong Kong Gold Bourse Approved to Build Vault in China

Hong Kong’s Chinese Gold & Silver Exchange Society was given permission to set up a precious metals vault in Shenzhen, China, becoming the first non-mainland bourse granted onshore commodity warehousing access.

Local government authorities and the People’s Bank of China Shenzhen branch approved the exchange’s plan to build the 1,500-ton facility to store gold and silver in Qianhai, a special economic zone on the west of Shenzhen, according to Haywood Cheung, president of the CGSE. Construction will begin next year and take about 18 months, he said.

China, which overtook India as the biggest gold user last year, is starting gold trade in the Shanghai free-trade zone this month as the country seeks to exert its influence over prices while expanding the yuan’s role in global trade. Bullion rose 2.8 percent this year after slumping 28 percent in 2013.

“We have to enter into China,” Cheung said from Hong Kong in a Sept. 8 telephone interview. “My duty is to lead our members and in turn their clients, their international clients, into China.”

more http://www.bloomberg.com/news/2014-09-15/hong-kong-gold-bourse-approved-to-build-vault-in-china.html

This year some 900,000 oz of silver on average have moved into or out from these six warehouses on a daily basis.
The daily average movement of silver into and out from the COMEX silver warehouses at 900,000 oz is equal to 28% of total world daily mine production.” -Ted Butler

Over 1 in every 4 ounces of silver that planet earth will bring out of the ground this year, will be shuffled through the vast halls of Comex warehouses.  Over 1 in 4.  The Comex system has gone from moving perhaps 1 million ounces of silver per week, to moving nearly 1 million ounces…per day!  In fact, in just the last two business days, the Comex has moved over a whopping 4 million ounces of silver!
As prices continue their descent for both gold and silver, it’s more important than ever to keep a clear focus on the implications of this price action, not just for investors like us(which are obvious), but also for those trying to orchestrate it.  It’s all a game of ounces in the end, for these banks, after all.  They must bring enough physical metal to deliver on their exchanges, both to investors, and to the industrial users.  There’s no “Plan B”.
Since both sources of demand won’t back off from their record level purchases, the bullion banks realize that they simply have to bring even more product to market. Their backs are against the wall here. The moment the metal is not delivered to some large customer in size, is the precise moment the end to this game will begin.  That’s the Catch 22 of the situation though: the banks want lower silver prices, yet the lower the price goes, the more threatened their constant source of supply becomes.

We’ve already seen how miners are hitting a wall, concerning the silver supply they can bring to market at these prices.  Yet, other sources are quite sensitive to price drops as well, some of which the average silver investor may not even know about.

Scrap it!

Sources like silver “scrap” and recycling are particularly vulnerable in this respect.  In fact, last year alone, the amount of silver that was produced due to recycling dropped by an enormous 60 million ounces, a drop of over 23% from the previous year.  Via the Silver Institute below, you can see just how large this drop was.  It was such an immediate difference, that it became one of the chief reasons for last year’s deficit. read more

The dollar chart from the May low looks like the left side of a big Head and Shoulders which has just made its Head.  If the symmetry is the same for right side on the way down we’ll  have 4 shoulders down to the neckline at the May low in 4 more months. Plunge thru the neckline and it heads for the low 70’s. We’ll be rockin & rollin now to February.  Unless they decide to hammer us and send $USD higher next week.

The dopey/dollar looks like its up in never never land according to this chart. Appears to be rolling over. If that dollar drops hard it should lift many of the prices.

Dollar climbing since May
http://scharts.co/1uEh8en

CRB Dropping since June
http://scharts.co/1uEhS39

source

Can’t disagree one bit. They keep cutting QE, interest rates go up a little … and the USA economy goes right in the crapper. When they bump up the QE in response then that’s when the PMs really fly. I also think they are likely doing more QE under the table … mum’s the word.

It’s a crazy world we live in … and crazier yet down the pike!

Believe me, nobody in Russia is in panic mode, unless they own a retail store full of cheap US and European imports that have to be replaced at higher prices. Exporters will be happy. The Media likes to put words in people’s mouths.

Gold priced in Rubles on the day:
http://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=d&flag=gold&otherChart=no

Dollar pegged to Yuan:
http://www.kitco.com/gold_currency/index.html?currency=cny&timePeriod=30d&flag=gold&otherChart=no

Dollar pegged to Rupee:
http://www.kitco.com/gold_currency/index.html?currency=inr&timePeriod=30d&flag=gold&otherChart=no

if he we’re a hipster…lol!

oh and by the way: Sergey Karaganov: Western delusions triggered this conflict and Russians will not yield<<<basically we’re going to kick your arses westy fools

The Soviet Union’s sunset years hardly felt like an innocent age to those who lived through them, but to recall the hopes and aspirations of that era is to rue the naiveties of those days. “A common European house” was how President Mikhail Gorbachev pictured the continent’s future; “a Europe whole and free”, in the words of George HW Bush, his American counterpart. But, as the tussle over Ukraine has shown, Russia and the west are rivals once again. The ceasefiresigned on September 5 gives both sides a chance to overcome their own illusions. They should take it, lest the conflict become a direct military confrontation.

Western leaders seem to believe their own propaganda. A failed Ukraine, they suggest, could be cradled into western Europe and become democratic and prosperous – and maybe it could, if they waited 20 years and could count on energetic support from Russia. But Moscow, they are convinced, is hell-bent on grabbing land, a hunger from which it can be distracted only through the infliction of pain. Hence the sanctions, the war of disinformation and the reinvigoration of Nato as a military force.

It is a strategy that rests on misunderstanding and miscalculation. The misunderstanding is that this is, at root, a stand-off over Ukraine. To Russians, it is something far more important: a struggle to stop others expanding their sphere of control into territories they believe are vital to Russia’s survival.

It is a miscalculation because Russia is far stronger, and the west far weaker, than many imagine. The west that Russia now faces is not the self-confident alliance that proclaimed itself victor of the cold war. It is a directionless gaggle, beset with economic insecurities and losing sight of its moral convictions. America and its allies once held the future in their hands, but at the beginning of this Asian century they have let it slip through their fingers. Their crowning accomplishment was globalisation – and they are destroying it, with economic sanctions they incoherently describe as instruments of self-defence. Read more at FT

Re China QE

That cnfms Jimmy Rodgers arguement that all they, the CB’s,  know is printing and that once the Fed eases up printing and the economy goes nowhere, they’ll start it all up again.

We gotta be looking at Hyperinflation before too long and no matter what the scum do they won’t be able to hold the PM’s down then.

Still tdy they have once again sat all over the PM’s.

China Launches CNY500 Billion In “Stealth QE”

Tyler Durden’s pictureSubmitted by Tyler Durden on 09/16/2014 11:36 -0400

It has been a while since the PBOC engaged in some “targeted” QE. So clearly following the biggest drop in the Shanghai Composite in 6 months after some abysmal Chinese economic and flow data in the past several days, it’s time for some more. From Bloomberg:

CHINA’S PBOC STARTS 500B YUAN SLF TODAY, SINA.COM SAYS
PBOC PROVIDES 500B YUAN LIQUIDITY TO CHINA’S TOP 5 BANKS: SINA
PBOC PROVIDES 100B YUAN TO EACH BANK TODAY, TOMORROW WITH DURATION OF 3 MONTHS: SINA
Just as expected, the Chinese “derivative” currency, the AUD, goes vertical on the news, and the S&P 500 goes vertical alongside:

more http://www.zerohedge.com/news/2014-09-16/china-launches-cny500-billion-stealth-qe

Parents of theater shooting victim file suit against ammo suppliers

The parents of Jessica Ghawi, who was killed in the 2012 Aurora theater shootings, filed a lawsuit in Arapahoe County District Court on Tuesday against four Internet ammunition and military-grade supply companies who they allege recklessly supplied the man accused in the attack.

“We’re putting them on notice,” said Lonnie Phillips, Ghawi’s father. “We’re coming after you.”

The lawsuit was filed by the nationally recognized law firm Arnold & Porter LLP’s Denver office in conjunction with the Washington D.C.-based Brady Center to Prevent Gun Violence. The companies named in the litigation are scattered in Tennessee, Minnesota and Arizona. read more

http://www.bbc.com/news/world-europe-29220885

Thanks for letting me hang out at the Oasis this morning. Reckon I best get my tail in gear and get something done.

Ya’ll take care, and listen….if ‘you know who’ comes looking for me, you aint seen me right? 🙂

Best Farmboy