"Un uh, not gonna do it" (in Dana Carvey, impersonating Poppy Bush voice)

"Never mind " (in Gilda Radner -Emily Littela voice)

Keep a lid on the euphoria.  Yes, war is a game changer and yes, India/China/Russia trading directly with Iran (some in gold - none in US$) makes a HUGE difference but remember that
this is how things looked at the end of last week....
* Total commercial net short position increased by 1300 contracts, to 20,400 contracts, maybe more.
* The total commercial net short silver position increased for the third straight week, as prices rose (which is the norm).
* Over the past month, the concentrated net short position in COMEX silver futures of the 4 largest commercials has increased by 3500 contracts, or 12.5%, to 31,500 contracts, a cause for grave concern.
* The technical funds and other speculators, have mostly bought back shorts and have not added to longs so far.

They're still there... just like the boogey men/women they are.

Would hate to be stuck in ZSL for the move that's coming... 

where is HUI and the miners in all of this?

Thanks.

No, that would be a year and two weeks ago.

DrkPurpleHaze - Just wanted to let you know I'm enjoying checking your "Daily DPHaze News Machine" Forum. I don't know how you do it - but that's a phenomenal collection of the latest news and info, from a multitude of sources. 

It's part of my daily read list!

Tuesday • January 31 • Eastern Time Zone
10:00am David Morgan                10:30am Endeavour Silver
11:00am Extorre Gold Mines       11:30am James Turk
12:00pm First Majestic Silver      12:30pm Huldra Silver
  1:00pm   Julian Phillips                 1:30pm   BREAK
  2:00pm Eric Sprott
  3:00pm SilverCrest Mines            3:30pm Great Panther Silver

FREE you just need to pre-register

https://seek.6connex.com/portal/goldsilver/login

I went searching for the full-size chart.  It is available as a 36 x 18 inch wall poster!

If you click on the poster image you can zoom in, pan,  and read everything.

https://www.historyshots.com/FinancialCrisis/index.cfm

Appreciate that!

Lol!  I knew there must be some sort of reason.   

It's almost like Jay Carney expected this question and was reading from a script:)

---------------------------------------------------------------------------------------------------

Police Use of GPS Devices Limited by U.S. Supreme Court

Jan. 23 (Bloomberg) -- The U.S. Supreme Court for the first time limited police power to track people using GPS devices, ruling in a case that will shape the privacy rights Americans should expect from a new generation of wireless electronics.

Today's decision addresses the unprecedented power that technology is giving police to peer into Americans' day-to-day activities. The ruling, which centered on a global-positioning system device officers attached to a drug suspect's car, may also affect mobile phones and other technologies.

The decision means that police in many cases will need a warrant to track suspects using GPS, even as the court's divided reasoning left the exact parameters of that constitutional requirement unclear. The justices unanimously overturned the conviction of Antoine Jones, who was found guilty of running a narcotics trafficking operation out of his nightclub in Washington. They splintered into three camps in their reasoning.

"Law enforcement is now on notice that almost any use of GPS electronic surveillance of a citizen's movement will be legally questionable unless a warrant is obtained in advance," said Walter Dellinger, a Washington lawyer who represented Jones in the case.

Five justices faulted police for the act of attaching the GPS to Jones' car without a valid warrant. Writing for the group, Justice Antonin Scalia said officers "encroached on a protected area," when they "physically occupied private property for the purpose of obtaining information." <Article Here>

NOW, if only the U.S. Supreme Court would strike down NDAA and Patriot Act provisions which nullify our Constitutional Rights!

http://www.caseyresearch.com/cdd/industrial-mans-gold

I'm glad I took the time to read that.

I like Thomas as a goaltender and I really like him know as a person. Way to go Tim!

Someone might want to tweet him (or whatever) about TMFR.  It sounds like he'd probably respond.

It is interesting to watch people watch a world-wide financial crisis unfold and take no action whatsoever to protect themselves from what they know is coming and the outcome which is so crystal clear. I am always surprised at how much people are aware of the crises and the issues, yet hope someone else will fix it.

Whenever a discussion arises about the economic malaise arises it quickly evolves into blaming the Republicans and Bush or the Democrats and Obama or the repeal of Glass-Steagall and the political push to expand home ownership under Clinton or Greenspan or Bernanke or Trichet or Hu or (I would name the leader of Japan but it would fill 8 pages to list them all for the last decade). No one takes responsibility themselves or wonders about where the legendary can kicked down the road winds up or what it means for them.

We all know that Greece cannot pay the debts that have been accumulated. Nor can Portugal. Nor can Ireland. Nor can Hungary (which along with Argentina are at the forefront of governments who have seized their citizens pension funds setting a precedent for predatory bureaucrats world-wide). Nor can Spain. Nor can France. Nor can the United States. Nor can Japan.  The reason the debts in Greek have not been restructured is because no one can agree on the percentage that the holders of the debt will accept “voluntarily”. The 50% default agreed upon only drops Greek debt to 120% of GDP from 180%, both levels of which are unsustainable, so the write-down must be much larger to drop to a level where the debt can be paid and the interest as well. A number as high as 70% has been suggested. The catch is that the debt-holders won’t accept it and if the default then becomes involuntary it triggers Credit Default Swaps and other derivatives which then become the responsibility of the parties that underwrote the debt instruments to begin with.

No one will advance Greece any more money (sic!) until this issue has been settled. With huge numbers of Euro coming due in the near future, the cradle of democracy must receive this funding to roll-over the debt and negate the deflationary contractions to the balance sheets of the holders. If you hold the debt, your gamble is that if the “insurance, the hedge, the safety-net” is triggered that the party who sold you the coverage (and collect the premiums for that protection and took it as income) can pay. The reason you would not trigger this clause is because if they cannot your write-off goes to 100%, not limited to whatever number is agreed upon. You have figured out how to live with 50%, more becomes a problem for your balance sheet. You also know the CDS are worthless-the major banks of Germany, France and the UK are holding this debt and HFT hedge funds  bursting in and out trying to make a short-term, highly-leveraged .1% are all players-and add the major US gamblers with customer deposits who hold the vast majority of the $707 trillion in nominal derivatives all trying to squeeze fees and trading profits out of the circumstances on the premise that the US Government, the Fed , the ECB, the Water district of Poughkeepsie will absorb the paper and make them whole (logical, because this is how it has worked so far).

This story will play-out in each of the crises mentioned and more besides which are awaiting their 15 minutes of fame. Each of these stories have their  happy-endings predicated on their economies growing at a faster rate than their interest costs are rising, without adding any new debt or growing the principle amount owed on which the interest can be paid, so that tax revenues (and collections) can increase to reverse the spiral.  Reinhardt and Rogoff have chronicled how this turns out in This Time It’s Different and have shown that the serial defaulters seem to be able to repeat this performance every 30-60 years. The debt  is always “paid” by default.

In Currency Wars, James Rickards has detailed how every government seeks to find growth through exports and how each government than seeks to protect their own markets while seeking access to others. Neither of these brief synopses do justice to the depth, breadth and insights of these two books, which are really essential reading for investors hoping to survive.  An insight repeated frequently in Currency Wars is that when your currency becomes worthless, the assets held in that currency become valueless as well.

Let’s now make you a citizen in Athens, deposits in a Greek bank-the rising tide of sentiment now seems to be that Greece will default, withdraw from the Euro, and reinstitute the drachma-immediately converting all the Euro debts to drachma and “pay off” the debts with the new currency. Your Euros when converted to drachma will have a small fraction of their current purchasing power. Do you just sit there and wait for this to happen? Multiply this by the number of crises and the number of people who will be seeking safe-haven and think about what a safe-haven is in the context of devaluing currencies.

Let’s bring this closer to home-foreign holdings (read primarily China and Japan) of US Treasuries are dropping every month. The supposed safest entity in the world, and an increasingly risky world, and fewer are being held by those who own the most. The debt is being financed by the Federal Reserve and computer blips. China has just worked out deals with Japan so that the trade will be done in yen and renmimbi instead of the Reserve Currency of World, the US Dollar. China has eliminated the dollar in trade with Iran (one of their key oil suppliers). Iran and Russia have eliminated the dollar. The drop in usage for the dollar drops the demand which lowers the value which increases your cost at the gas pump. It also puts and keeps those dollars in circulation.

Other countries that have positive balances of trade, and , consequently, pile up dollars are finding means to protect themselves against the policies, regardless of administration, which lead to a cheaper dollar to get that doubling of exports in 5 years that President Obama is striving for, and diminish the value of their holdings.

Central banks are buying gold..this is all easily documented by country and trends plotted..and buying with increasing frequency and in increasing amounts and buying them with dollars..which puts the dollars back into circulation.

The expansion of the money supply has been astronomical-when the velocity of turnover begins to grow-and it will-because the longer you hold the more you lose in purchasing power, the falsified low-inflation numbers, will explode-and the velocity will increase as people convert to real assets. This will have the effect of doubling, tripling, quadrupling the supply and the rapid loss of its value to the extent that growth exceeds the growth of production. This will seem like it happened overnight.

Rickards has a really interesting matrix showing how when a certain number of people do a certain things, it triggers another group doing the same, which triggers another group, each exponentially larger-think of the housing bubble, the tech stocks in 1999-2000 for real-world experiences. In essence, every one wakes up on the same day with the same conclusion.

Dollars are being dumped for hard assets by central banks and government. All governments have a policy of debasing their currencies for competitive reasons. The velocity of expanding money supplies is going to increase. Everyone will wake up on the same day and want to own precious metals to protect their personal assets. Everyone knows in their heart that this is true.

I saw them in concert in Ottawa around 1995 - the best concert I've ever seen, to date!

Funny thing - I remember everyone looking exactly like DarkPurpleHaze's avatar! ;-)

coming to a currency near you!

http://wallstcheatsheet.com/gold/currency-wars-are-driving-gold-and-silv...

Although the oil sector is a large target, there is another important sector being targeted by the sanctions.  EU governments also agreed to freeze the assets of Iran’s central bank.  More importantly, it placed a ban on all trade in gold and other precious metals with Iran’s central bank and public entities.  “Today’s decisions target the sources of the finance for the nuclear program, complementing already existing sanctions,” the EU explained.  While the sanctions may be targeted at Iran’s nuclear financing, the move serves as a reminder to investors that precious metals are alternative reserve currencies used in the absence of the U.S. dollar.  Recent data shows that Russia and China are likely to continue business with Iran outside of the U.S. dollar, which will help support gold and silver prices.  In addition to trade agreements, Russia has reduced their U.S. Treasury holdings over 50 percent from October 2010, while China has reduced their holdings to the lowest level in over a year.

A few days ago someone posted about a secret report where Henry Kissenger assured the Chinese that Jeb Bush will be the next POTUS. The post said that the Republican primaries were going to end in a stalemate opening the door for the third Bush to get the surprise nomination.

I didn't pay much attention to this due to the tinfoil hat factor. But today after watching the Florida debate (Ron Paul was there somewhere, not that they showed him much) I am thinking there is something to this.

In the wrap up one of the NBC talking heads mentioned in passing the thought of Jeb becoming the nominee. If TPTB can pull that off they can do anything.

reading the columns of Andy, Gonzalo, Jim and Jeff with great pleasure. 4 men that get it, totally.

this sentence basically said it all for me : 

“It is difficult to get a man to understand something, when his salary depends upon his not understanding it!” - Upton Sinclair

Found this from Jan 18th?

http://www.thetotalcollapse.com/kissinger-vows-to-china-jeb-bush-will-be...

From there...

http://www.chinadaily.com.cn/usa/china/2012-01/18/content_14471730.htm

Kissinger and his delegation came to Beijing for the third meeting of the China-US Track Two High-Level Dialogue, a gathering for dozens of retired prominent diplomats and officials from both countries.

Just what is Kissinger's "Official" position? Meddler???

Precious metals virgin here. I am standing right on the edge of the diving board re purchasing some gold here in Oz. I was just reading elsewhere that the Euro crisis may actually push gold lower in the not-too-distant future, as Euro investors flee the Euro and convert into USD. Meaning there could be a further dip, before a take-off when the US is revealed to be in equal trouble. So for someone entering the market, hold off or go for it now? Accept the full disclaimer on investor's own decision/risk etc, but just wanted the thoughts of people more knowledgable than me. Heck, I wouldn't mind an opinion on whether anyone thinks the AUD might escape any looming apocalypse, as some have described AUD as a safe haven currency.

Any comments greatly appreciated. Considering I am looking at pulling the trigger tomorrow! 

Was thinking about this last night.

Who will lose the most money when silver gets whacked?  I'm not 100% sure one this, but I bet the miners lose MILLIONS.  Now if I was a CEO of XYZ Silver Mining CO. I would be quite upset when I see the price of silver down 15% in a few days.  I would know that I've been ROBBED by certain entities that remain nameless.  I sure the hell would want to know names.   

So what should I do?  There's not much argument that the private sector is much more efficient than the public sector.  I know the CFTC, SEC don't do what they are supposed to do.  So maybe as a CEO of XYZ  I should call up my fellow Silver miner CEO's and put up some cash to take it to the PRIVATE sector.

Higher an army of private investigators.  Higher some high powered, ruthless, expensive, big-time lawyers.   Put an ad in the Wall Street Journal stating you will pay for any information that will help put an end to the Silver Price Manipulation.

Take it to your share holders and float the idea of a stock offering to raise money to help you stop losing money to whomever these nameless bastards are.

Make it as public as possible and get the word out that your tired of being bent over every few years for millions.

The private sector would probably get the job done where the public sector fails.

Why don't they just take the fight to them?   I know the money would be there if they made their minds up to go on the offensive.

Why do they just sit back and take it??????

Do they think silver is fairly valued?  Maybe they don't believe silver is being manipulated.  

I haven't heard of any miners going after the JP Morgan or whoever is responsible.  The will must be there.  Why don't they go after them?