Cutting Vacation Short

548
Wed, Feb 20, 2013 - 10:04am

This is relentless and unforgiving...and I'm not talking about MrsF.

So bad that I'm cutting my mini-vacation short. I still don't have time for a full post so here are two items for you to read this morning.

ZH has been doing an excellent job chronicling the consistent, daily destruction. Here's the latest: https://www.zerohedge.com/news/2013-02-20/precious-metals-morning-slam-right-schedule

And here's someone who has noticed some of the same "anomolies" that I have: https://www.zerohedge.com/contributed/2013-02-20/curious-case-falling-gold-and-silver-prices

The charts, of course, look terrible. Having failed at hoped-for support, silver looks like $28 and gold, if $1580 fails, looks headed all the way back to the bottom of the 18-month range, near $1550.

This is all highly unusual and indicative of extreme manipulation and panic-level positioning. At the risk of sounding trite and reading like another KWN pumper, I must say it: THIS WILL PASS. THESE EXTREMES WILL BE RESOLVED SOON AND NEW UPLEGS WILL BEGIN. PLEASE BE PATIENT. THE FUNDAMENTALS ARE STRONGER THAN EVER AND PHYSICAL REALITIES WILL SOON REPLACE PAPER SHENANIGANS AS THE DRIVING FORCE BEHIND PRICE.

More later if possible.

TF

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  548 Comments

Save_America1st
Feb 20, 2013 - 11:35am

keep it coming!

This is awesome. Love the chance to cost average in some more shiny phyzz today! Glad I held back a little dry powder over the weekend so I can grab some more. Thanks EE, et al. or whatever else the causes of this is.

Tempted to trade in a gold Buffalo at this GSR (55+) for a pile of silver Buffalos. I can get about 53 oz's for it right now. That's 10 oz's more of silver than when I bought the gold Buffalo. Not too shabby a trade. Once the GSR drops towards and under 30:1 I'm hoping to be able to flip a little silver back for some gold to balance out the phyzz stack a little better before I send it all to the bottom of Lake Nobody Knows.

Thoughts on this plan anyone??? ****(excludingthe 2 jokers who became members within the last hour and are already bashing the crew). You don't count for jack shit at this point if that's how you're going to show up today.

Good luck everyone and have a kick ass day no matter how you take advantage of the sale! BTFD and keep stackin'!!!

agNau
Feb 20, 2013 - 11:37am

CIA statement...

Remember this from somewhere. *PARAPHRASED (unofficial) "when everything the public believes is a lie......"

Dawg
Feb 20, 2013 - 11:37am
tpbeta
Feb 20, 2013 - 11:38am

So where's the bottom gonna be for silver

I would like to know. Not here, I suspect.

psi
Feb 20, 2013 - 11:39am

first time post

Saddam Hussein want to trade oil in gold. He is dead.

Gaddafi want to trade oil in gold. He is dead.

For years, the official line of China is that gold is not a good investment vehicle, the US dollar is.

Just play dead and you will be fine.

I got to go. Rush over to my local coin shop and get rid of my coins.

ag1969
Feb 20, 2013 - 11:41am

So nonoverlapping

You took the time to join this blog and throw out a point of view that you don't care to discuss? If we were take gold's historical value and adjust for inflation, wouldn't it be much higher than it is now? Do you have any idea how much money has been printed? This is the exact reason that we stack it. Because if we carry your assumption through to the "end game" gold will be dramatically higher than it is now. I don't know how you can put "inflation adjusted" and "$500" in the same sentence.

Groaner
Feb 20, 2013 - 11:44am

Hey Benny your stock market is tanking..

print some more fiat and rush in... quick!

tmosley
Feb 20, 2013 - 11:46am

Newoverfapping

>Historical value adjusted for inflation

>$500/toz

Pick one.

For silver, maybe that would be the case.

bunnytoujours
Feb 20, 2013 - 11:46am

Oscar Wilde

¨poeple know the price of everything and the value of nothing¨

¤
Feb 20, 2013 - 11:48am

NonoverlappingMagicCereal

Welcome aboard!

It's too bad the MagicCereal part doesn't show, very unique.

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