these massive hits are timely in the fact that any pop we should receive due to great PM earnings have been psychologically skewed by the carpet bombers….
maddog, deer79
maddog – do you know how far out they go?
deer79 – yep, getting ugly now. Never underestimate the ability of things to get worse. You know what my greatest fear is? That we hit the top over a week ago and I missed the opportunity to cash in my chips. Seems like we are right back to the way it’s always been with pm’s now. The Chinese New Year is an eternity for the scum to crush silver, especially with $10 moves like this.
The machines
are stop hunting this morning. Chinese are off for Lunar New Years but not until Feb. 17.
So I guess everything is back to normal now. What a friggin joke.
Gold is down some 14% from its peak, and Silver is down roughly 37% from its high!
Just burns me up that the scum win again!!!
buygold
Re options at 10 K , 15 K and 20 K….u have to be pretty sure to go that far above, or it’s just wasted money……
Goldielocks
Re Scum Algo’s……I don’t think they are that sophisticated, they employ good traders with unlimited Vol, with that u can make mkts do anything….all I know is some mkts do not trade as normal mkts….
China buckled again
Shanghai pm fix came in at $87.71. So, I guess it means they’re taking their queue from paper, I don’t know “who”s” paper, but whatever trades overnight.
That being said, somehow I thought it would be worse this am. 10% down is ugly in silver, but wondering why gold isn’t getting hit harder. The unfortunate part about Shanghai lowering the pm fix is that it tightens the spread and the scum doesn’t have to worry about it now. If we closed here, an $8 spread is about where it’s been on most days, it’s hard to see any recovery.
I can’t make sense of any of it. Maybe demand is slowing and the industrial guys are holding off to see what happens.
We re-tested the lows of Friday again, hopefully that’s all this is.
Sng
Becoming one ? Lol
eeos 21:54 amen to that.
But I see that yellow has bounced $90 in an hour, and white $4.50. The binary store of wealth whatever not so…..
sng
Becoming one what?
Buygold
Good question. Something going on.
The question I have is “who”
is selling $76 silver tonight? It’s not China. So, who has the silver?
Makes zero sense.
So this is why
they sold the miners today.
Scum
Silver is straight down more than ever in a short amount of time
But as long as BTC IS getting beat up to hell, I’m OK with taking some lumps
Shanghai held their ground to start the night $101.09
Which is interesting to me because at the same time someone else is currently bombing silver.
Phyzz or paper, who rules?
Let’s see what Shanghai says in 6 hours.
maddog – interesting
I wonder how far out those contracts go. If they move out into Q4 there might just be some truth to the Judy Shelton comment about Trump/revaluation/gold backed bonds.
It might keep the dollar alive a little longer.
Ferrett 17:33
It’s surprising how many people are sleeping right through this right now. More people are waking up but not like it was in the 1980s. If something happens to their currency they’ll be caught unaware and unprepared.
I hope they push back on this unrealized gains meaning no taxable gains and get the ones entertaining it, their enemies, out of government. The end of times in Rome robbing the city’s and then it fell. It’s just another money grabbing scam to confiscate other peoples property, it’s criminal. Once they get away with that with one thing they’ll do it to everything. They’re no justification for it and they know it. They want gold or silver, go buy it themselves, they get paid enough for doing nothing but sitting around spending and mismanaging other people’s money and dreaming up ways to steal more from them when they run out of that money.
Mini-Saylors.
Smarter Web Company debuts on UK stock exchange.
“Its bitcoin holdings were purchased at an average price of just over $111,000 each.
Bitcoin was trading at $78,442 per token on Tuesday, having fallen from its peak of around $124,000 in October last year.
The firm now owns 2,674 bitcoin, and Webley says he plans to keep buying the tokens in the future. Smarter Web Company last bought bitcoin on 22 January at $90,289 per token.”
If Bitcoin is tumbling with all these big buyers mopping it up then there really is no floor. Below $73k now.
Counterfeit coins
What’s concerning is one of the first comments a person named Pamela said she bought quarter silver small coins and pasted tests but was peeling on part of the coin. Counterfeit. She bought it at APMEX. Said they don’t sell those coins anymore. Apmex
He gives some test you can do without equipment. Never heard about the ice test.
goldie, I don’t think many people consider it currency now.
Those that are just waking up to its potential see it as an investment. Apparently the Netherlands want to tax the unrealised capital gains on all investments (with minor exceptions) which would mean people would be required to list those investments so the govt would know how to tax them. So they would know where the gold is to confiscate it. How about jewellers having to notify govt of all purchases, so the govt knows who has been buying earrings? They already know your stock holdings, investment properties, bank accounts etc. so why not gold and silver?
Institutional algorithms
I wonder if a master chartist could figure out ” decode” the institutional algorithms. It could be connected to Fibonacci numbers it seemed to follow on that coordinated shake down.
Ferrett
Even back in 30s gold was considered currency. Would be considered similar to Europe having to exchange their country currency for the Euro. Nixon took us off the gold standard it’s now considered personal property not currency. I’m sure they’d think up some crucial reason they needed everybody to turn in their PMs except maybe neumanistic ?? collections.
I think they will try to discourage people from holding it first. Like if they’re changing the reporting lower and lower if they do on the 15 th or will do. Then what having stores only buying larger amounts? Games like that.
from a Zerohedge premium post…..about Gold….sri do not pay for it….bit this is V interesting
“a large build in the $10,000/oz strike and an even larger one at $15,000/oz and $20,000/oz”
Ferrett
Hopefully it doesn’t go that far back. Gold jewelry was spared in 1933. Otherwise it will result even more resistance and a underground currency and perhaps a desire for a new common currency.
goldie, the first confiscation was wearable jewellery.
Exodus 32. I’m sure ‘they’ will be aware of such nefarious precedents, even in the Bible.
