Hold My Beer

77
Wed, Mar 3, 2021 - 12:56am

Hold My Beer

Last year, when The Bankers short-bashed silver down below $14, I was somewhat broke but just had to get me some at that price. Just because! The shop was filled with buyers. I joined the line and bought 10 ounces at that price while the big buyers quickly cleaned out all the silver in that little LCS. Not sure if the owner was delighted, or troubled. I left wondering if he hedges his inventory each evening before the Comex close.

This past month we have witnessed a new generation of stackers jump into the pond with us—at least 37K new stackers on Wallstreetsilver over on Reddit. I joined the group also and am enjoying their giddy posts as they show off their stacks. They are on fire and proud of their “contribution to the cause” regardless of the amount, just like we old-timers felt a decade ago at the old Watchtower site. While my sincere and undying hope is that this time will be different, the torture I endured after May of 2011 keeps me sober. Indeed, we cannot underestimate the depths of evil the Banksters will embrace in their efforts to retain control of these markets.

(commercial break: Why did Mozart hate chickens? Guess yet? All day long its Bach, Bach, Bach!)

Paris is now aiming his arrow at the mighty Achilles, who knows his “silver heel” is the vulnerable spot. But Achilles will defend against this attack. Rehypothecated metal is the target. Let's bring it to the settlement floor and see who owns it and who doesn't.

For a while in 2011, the ride was a lot of fun. We rode the silver bull up to 49, and then stubbornly held on as it was systematically beaten back down to that low point where many of us were buyers. That was the floor! A lot of swearing happens in the days when we reach that floor.

One fascinating facet of becoming a stacker is that you can never stop. I hadn’t bought much metal for several years, even selling some at $17 out of necessity and unable to buy our stack back for three years. That entire time, I longed to buy. I just could not completely throw in the towel and walk away from stacking, even though my cost average was $35 prior to selling out. The PMs got into my blood!

Oh! What a pitiful fool! If I had only purchased shares in a mutual fund in 2011 instead of loading up on silver. And no need to mention that other form of money here that has been largely left unmolested by the crime syndicate.

For that entire 10 years after the “bin Laden take down," I have kept an eagle on my work desk to fondle every day as I graded student assignments at my teaching job, wondering if price would ever recover. Now I have hope again—I’ll give WallStreetSilver the credit for that hope. Indeed if the arrow of Paris hits its mark, Achilles will fall, but let us all recall who won that war. This latest attempt to storm the COMEX vaults and force them to close the doors, may be successful, letting silver seek its true price. But these Bankers will strike back as it happens. The wily Greeks connived their way into the city of Troy hiding inside their wooden horse—a gift to honor Troy and seemingly admit defeat. The Greeks then destroyed Troy as the Trojans were partying over their apparent victory. They turned that city to such a rubble heap that it was only identified recently.

But this time, 37K new stackers will watch, HODLing their stacks, as pissed off as each generation has been since the Hunt brothers were taken down. And we should not expect the stackers of today to make the same mistakes we have made in the past. We have seen their tricks and know they are capable of great evil. And we know that the regulators and "law enforcement" simply slap their wrists and are rewarded with a cushy job on Wall street when their terms are over.

A new floor is in. Perhaps it is about $20? And we may see it if/when the Banksters strike back, driving silver back down through illegal shenanigans, rule changes, and all the pressure they can muster. They may even ask Congress to outlaw the only constitutionally legal tender. Oh! what a world we live in..

But the ultimate contest may be underway. Can we drive the price of silver high enough to destroy the futures trading before they manipulate the price down and then outlaw private silver ownership?

I actually went to a metals dealer in Phoenix way back in 1982 and considered buying a 10 ounce bar of silver for $8 per ounce. Price had been sitting on that floor for several years. By 2002 the price dropped into the $4 range. But then a hardcore group of stackers began to awaken. Silver prices were forced up, peaked at $20 and then discovered a new floor at $9 as a new generation of stackers came the party. Next silver made its historic run, pausing momentarily at “Turds Bottom” of $26 to relieve itself, then flying up to $50 (albeit an inflationary corrupted $50 when compared to the Hunt peak.) And after the fateful smashing, silver discovered its new floor at $14, which caused me to stop by the LCS just to make a point. And now we are on the rise again.

We are already seeing the Banks response--capping, smashing and negative articles in the mainstream news.

This time though, the new stackers are not in it to get wealthy. They already do that with bitcoin. They will keep HODLing, and the old-timers will be inspired to keep HODLing as well. If price is suppressed and COMEX survives, Silver will find a new floor and rise again. Because once a stacker, always a stacker.

Each run up in price has produced more stackers than the mines can produce silver to satisfy—at least for a while. Unfortunately, a few too many throw in the towel, like I did a few years ago. The retaliation has already begun. The anti-metal hit pieces in the media are already appearing.

Yet, stacking as a means to a personal end as well. I am seeking security for my family in the future. And to that end, I’ll begin taking profits and moving the increase into productive land—both for living and growing. But I’ll always keep about 1/3 of my stack. And I’ll ramp up the stacking if we see a dip in this cycle.

I may have to contribute some blood in this never ending war with these power-grabbing globalists. Silver provides hope for freedom and independence. The possibility of breaking The Banks offers a path to escape the globalist agenda that has enslaved us for too long. It also offers freedom for our kids, as we teach them about stacking and eventually leave them a stack.

So in the meantime, we can all be inspired by the WallStreetSilver movement. The proliferation of first time stackers has the potential to jam up the New York and London delivery system. That will be a lot of fun to watch. And when will we get the chance to try that again?

The opportunity is before us. Let’s all say, “Here, Hold my beer! I gotta go join these youngsters and take on some Bankers.”

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Key Economic Events Week of 7/26

7/27 8:30 ET Durable Goods
7/27 9:00 ET Case-Shiller home prices
7/27 10:00 ET Consumer Confidence
7/28 2:00 ET FOMC Fedlines
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7/29 8:30 ET Q2 GDP first guess
7/30 8:30 ET Personal Income and Spending
7/30 8:30 ET Core Inflation
7/30 9:45 ET Chicago PMI
7/30 10:00 ET UMich Consumer Sentiment

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