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SurvivalGround >> Price of Silver.


9/24/11 1:28 PM
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RoidsGracie
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Edited: 09/24/11 1:55 PM
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Been making a bunch of silver purchases, let's hope you guys are right!
9/24/11 5:07 PM
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RoidsGracie
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MoreThanUFC - 
RoidsGracie - Do you guys think silver will get over $50? If it does, I might be cashing out.

 It will be a cold day in hell for CME lets that happen. 

If you mean cashing out into cash, I dont agree.  You need to trade one hedge for another.  If you want any advice about buying real estate, I can help.  Someone from this thread has contacted me, and a number of OGers on FB have inquired.
So any advice about real estate or should I PM you?
9/24/11 6:04 PM
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MoreThanUFC
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 PM me.   We can connect on FB if you want or just send me your email and I'll send you the same email I've been giving everyone else.  My system isnt the only one, but with little pain and effort, I now have a nice positive cash flow of net $650 a month, about a 16-19% return on my investment AND I own the house.

And yeah, I backed the fucking truck up.  I went to a gun show today and picked up a nice red dot for my AR, and a few hundred ounces of silver at $30.85 per that just last week I sold for $38 per!  Woohoo.

9/24/11 6:20 PM
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RoidsGracie
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 PM sent, and I'm jealous of you getting that sweet ass deal on the silver. I ended up paying 5 bucks over spot for some Engelhard bars.
9/24/11 11:18 PM
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vegasdolphin
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 With Silver following the drop in Oil dont you think Silver will drop even more Monday? Many are predicting silver will hit 25 before it jumps back up again.  
9/25/11 2:12 AM
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MoreThanUFC
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vegasdolphin -  With Silver following the drop in Oil dont you think Silver will drop even more Monday? Many are predicting silver will hit 25 before it jumps back up again.  

 Where the bottom is will be dependent on what CME does.  But as always, it wont last forever.  I'll just keep saying it, once Oct 1 is reached, and JPM's Sept contracts expire, they'll let their foot off the neck of silver to give it some breath again.  I am not sure when the next big deadline for JPM is, but I do know Sept is one of the bigger ones.  If it does fall to $25, and this is no joke, I'll sell anything I own that I dont need to convert it to silver.
9/25/11 11:57 AM
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MoreThanUFC
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 I am not Z guard! Lol.

http://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins

Anyway, there is some good data on why PMs fell so bad.

There really isnt a copper short ETF, a new one was just created that has about 5 days worth of history... SCOP.L is the name.  Copper has another good dollar to drop, imo.  Money to be made....
9/25/11 12:58 PM
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MoreThanUFC
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 And he did.  He bought a 100oz bar Fri and all the junk his dealer had.  Monday he's moving 12k into my account for me to pick up what I can on the nucleo or Bulliondirects catalog. 

God I wish I could options trade.  Copper has easily another dollar to go.
9/26/11 2:16 AM
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vegasdolphin
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MoreThanUFC - 
vegasdolphin -  With Silver following the drop in Oil dont you think Silver will drop even more Monday? Many are predicting silver will hit 25 before it jumps back up again.  

 Where the bottom is will be dependent on what CME does.  But as always, it wont last forever.  I'll just keep saying it, once Oct 1 is reached, and JPM's Sept contracts expire, they'll let their foot off the neck of silver to give it some breath again.  I am not sure when the next big deadline for JPM is, but I do know Sept is one of the bigger ones.  If it does fall to $25, and this is no joke, I'll sell anything I own that I dont need to convert it to silver.
You might be selling whatever you own Monday or Tues then! Maybe what I heard is accurate about silver dropping to 25 because its 27.00 and dropping right now in Asia. The Silver & Gold run could be over.
 
9/26/11 1:59 PM
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jaywill
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 this is on par for the course, I cant remember who it was , maybe Turk that said a few weeks ago that the banksters new weapon was voliatily to chase out the faint of heart.  He also called it to hit 1600 bottom again. 
9/27/11 1:04 PM
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MoreThanUFC
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 Silver up 27% in 24 hours or so.... JPM looks prepared to cover the shorts up to $40.  I'm guessing they have already closed tens of thousands of contracts as the volatility got specs scared and closed out early. 

Let the party get started.  $38 by Fri or sooner.

BTW, we bought 2 more 100 bars Mon and about $1000 face of junk silver, Dad and I.  All of it around $28 per.
9/28/11 1:57 PM
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frankenchrist
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MTU... are you buying locally or online?
9/28/11 2:00 PM
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RoidsGracie
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 I usually only buy silver from this one store but I've been driving around to some other businesses to make purchase. I haven't been able to locate another store that actually sells gold or silver; instead all these places only buy. Kinda frustrating.
9/28/11 2:22 PM
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frankenchrist
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im thinking that im going to go around tomorrow and see if any of the local retailers are selling. im also going to move about 20% of one of my IRA accounts into a silver ETF before the week is out.

9/28/11 6:38 PM
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jaywill
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 are anybody's online dealers still stocking bars ? i noticed all i have available now are 1 ozers . the well is running dry.
9/28/11 8:12 PM
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vegasdolphin
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 Silver appears to be on the down. Do you guys really think Sliver is still a buy at 29-30 bucks? Most of my friends are on my case for not selling when it hit 42-43. 
9/28/11 8:12 PM
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vegasdolphin
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 Silver appears to be on the down. Do you guys really think Sliver is still a buy at 29-30 bucks? Most of my friends are on my case for not selling when it hit 42-43. 
10/2/11 12:46 AM
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MoreThanUFC
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 I was buying online, but dont believe the sites like APMEX when they say they are in stock.  They arent.  I buy from the nucleo exchange on BullionDirect and my dad has a few source for local up in NJ.

I was wrong up the price by Fri, and am very curious about Monday and Tuesday next week to see if CME lets the boot off of silvers throat.  With margins and maintenance at the levels they are at now, CME cant drive the price down any further.  The only people left in the game are companies that need to accept delivery like jewelry or computer companies, and they dont give a fuck what the margin is.  Everyone else is out of the paper market at this point.  And JPM has made billions back from their earlier losses as silver dipped below $30.  I think the manipulation may be over... for a month or so as silver creeps back up again.

The underlying demand for silver on the street ( retail buyers like us ) vs paper silver ( or paper gold for that matter ) doesnt really get priced into the markets much.  But try to go out and find any silver right now... demand is mind bottling.  My dad's dealers tell him of people calling them from Japan, from Austalia, from S. Africa looking for bullion. 

Another interesting thing I have learned recently is China and Russian central banks have stopped buying gold... even at these prices, which leads me to ponder if the bottom hasnt really been reached yet for PMs.... that worries me.

But I'm still buying!  Picked up anther $2000 worth of 10s and 5s from one of my dad's dealers today.  Unfortunately, the fucker charged me sales tax... fuck New Jersey.  I paid around $34 total per oz.
10/2/11 8:39 PM
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frankenchrist
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^^ good shit, thanks
10/3/11 4:17 PM
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MoreThanUFC
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 Read this.  It's from today.  Sounds a lot like what I have been saying.  I'm telling you, get in now.


As we anticipated earlier this year, commercial shorts including JPM are finally within grasping reach of covering their positions and transitioning to net long. For more than a decade, the large commercial trading banks have been trapped with an enormous short position in silver as the price has risen from its lows near $3 to its May high of nearly $50. Most analysts expected the commercial shorts to be broken in a short squeeze, likely launching silver above $100. However, this short squeeze will not occur.

In September 2010 these traders began to aggressively cover their short positions. Since then, commercial net short positions in silver have been reduced from over 65,000 contracts to 24,262 as of September 27, 2011 - and falling from 40,708 just one week earlier.



The large September take down from the $40 price level to the $30 price level has completely wiped out the small leveraged speculators, which saw their net long positions crash from 18,170 the previous week to 8,837. Meanwhile, open interest is threatening to break below the 100,000 level - indicating that speculative money has abandoned silver and sentiment is extremely low amongst investors. The combinational one-two punch of the May takedown and September takedown served to transition contracts from speculators to the commercial shorts at a much lower average price than most analysts ever expected.



The bullish trend line in silver that began in 2009 remains intact. However commercial shorts are now within a few weeks of trading their way out of an impossibly large short position to go net long. We expect the remaining positions to be covered within the $26 to $32 price range under the guise of bearish speculator sentiment.

This is extremely bullish for silver's long term trend, as the commercial banks will capture more profits from the bull market in precious metals than any other trading group. Once the commercial banks have a net long position their financial incentive will reverse from using takedowns to take-ups. This will likely coincide with the next round of monetary intervention by the Federal Reserve and the beginning of the third phase in the silver bull market - in which waves of retail investors push silver to its destined triple digit price level.


10/6/11 5:09 PM
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MoreThanUFC
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 Seems like we are back to a time when stocks go up, and gold and silver go up. 
10/11/11 9:08 PM
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THE CACTUS KID
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subbed
10/18/11 5:58 PM
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MoreThanUFC
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 I wish I knew, HM.  We all know that Ag is consumed in industry each year.  That is one reason why so many believe the price is way below it's true value.  The amount of silver available on Earth is reduced each and every year.  Some day, at our current rate of consumption, there will be more Au on Earth than Ag.  Probably not in our lifetimes of course, but someday.
10/20/11 4:27 PM
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jaywill
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 oh snap, forecasts are for silver to drop short term  b/c of the cartel influencing the CME into changing margin requirements to cover shorts. but possibly as soon as in 2012 new regulations limiting short positions will send silver to the moon.
one analyst says dont panic if your silver drops to 22.00  , thats just the final hurrah of JP Morgan et al staying alive covering positions before the new regulations are enacted.

advice is to keep buying physical .

www.wealthwire.com/news/headlines/2082
10/27/11 7:17 PM
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MoreThanUFC
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 I've been doing most of my silver posting on FB.  Anyone on my page can confirm this for those of you not there....:

I said Friday that Mon and Tues would tell us the near term trend in silver.  It gained both days.  Yesterday and today added more.  I still see a cutoff at around 38, with a pullback.  I hope jaywill is right and silver pulls back to sub 30 at some point in the near term. I'll sell everything I have and buy.  When shorting gets limited next year, there will be much less downward pressure.  $50 some time next year.

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