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Thread: Warning Fools! Silver Will Fall by 66%

  1. #61
    I heard there was a big 15% off Silver sale going on...
    Ron Paul: "Do you think gold is money?"
    Ben Bernanke: "No"
    ~July 7th, 2011



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  3. #62

    And Now For Today's Mini Silver Flash Crash: Same Time, Same Place



    Just like yesterday and the day before, 6:30pm is now the official precious metal "bang the afterhours" launch time. As we predicted minutes ago, silver just got taken to the cleaners on what is now an apparent attempt to push silver around in the no volume part of after hours trading, in the 6-7 pm no man's land.

    More:

    http://www.zerohedge.com/article/and...ime-same-place

  4. #63
    I like the trend... means I can buy more for my monthly purchase!

  5. #64
    $39.62 now...silver has fallen $3 today



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  7. #65
    Quote Originally Posted by Bern View Post
    In that question, the author announces his complete ignorance of the issue. It's not that metals are "accreting value". It's that the measuring stick you are using to measure value is changing. The author has a fundamental misunderstanding of what money is and a complete lack of historical perspective on the "great" Keynesian experiment that's in it's dying days. Everyone loves the returns on a Ponzi scheme until it collapses.
    Well said! Only fools here are the ones still holding on to dollars.
    Last edited by Jandrsn21; 05-04-2011 at 10:23 AM.

  8. #66
    Quote Originally Posted by qh4dotcom View Post
    $39.62 now...silver has fallen $3 today
    Excellent. Sell and take profits

  9. #67
    Let it go down to $8/oz I'll start buying bricks
    If you don't live you life on the edge, you will never see the view

  10. #68
    Quote Originally Posted by Brown Sapper View Post
    Let it go down to $8/oz I'll start buying bricks
    haha I wish.

    Gold is still above 1500. This should show that if you are wanting to get into gold/silver, that you need to look at the charts. Silver might be a good buy here, but if it went down to 30 I wouldn't be shocked. It went from 20 to 50 in 7 months, back to 30 wouldn't be too strange. Gold on the other hand has slowly been moving higher and higher and now with the big sell off it is still above 1500, only 5% or so off highs. Whereas silver is 20% off highs.

    We know the future value of these metals is much higher, so why not buy the one that isn't extended.
    What I say is for entertainment purposes only!

    Mark 10:45 The Son of Man did not come to be served, but to serve, and to give His life as a ransom for many.

    "If you want to make a lot of money, resist diversification." - Jim Rogers

  11. #69
    The value of a commodity is based on mutual voluntary exchange...

    HR “I might think that I hold Taggart Transcontinental in my power.”
    DT“You know that, anyway.”
    HR“I do. And I intend to make you pay for it.”
    DT“I expect to. How much?”
    HR“Twenty dollars extra per ton on the balance of the order delivered after today.”
    DT“Pretty steep, Hank. Is that the best price you can give me?”
    HR“No. But that’s the one I’m going to get. I could ask twice that and you’d pay it.”
    DT“Yes, I would. And you could. But you won’t.”
    HR“Why won’t I?”
    DT“Because you need to have the Rio Norte Line built. It’s your first showcase for Rearden Metal.”
    HR (chuckling)“That’s right. I like to deal with somebody who has no illusions about getting favors.”
    DT“Do you know what made me feel relieved, when you decided to take advantage of it? … That I was dealing, for once, with somebody who doesn’t pretend to give favors.”
    CPT Jack. R. T.
    US Army Resigned - Iraq Vet.
    Level III MACP instructor, USYKA/WYKKO sensei
    Professional Hunter/Trapper/Country living survivalist.

  12. #70

  13. #71
    Let it fall, then we can get rid of FRNs at a better rate

  14. #72
    So where's the bottom going to be?

    IMHO, worst case scenario (total crash) takes us down to a minimum of $20/oz. Barring a total crash scenario, and looking at a typical draw-back, maybe $30 will be the bottom?

    What do the technical gurus think?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  16. #73
    The prior bottom was at 27$. 27 to 49 = 22$ increase. It will probably retract back about half of that (down to 38$ or so).

    Technicals can only go so far however - the marketplace is so incredibly messed up right now that anything can happen - it could be a $#@! storm back to 30$ or we could see massive support push prices back up in a hurry.

    I tend to think the latter is more likely.

    I am inclined to think in USD the price will soon start to level...I do think the 38$ area is a solid target as a bottom.

    36.50$ or so in CAD.

    Once the new bottom is established, prices consolidate and prices start to move up again - look out, the next move up is going to be huge.

    I would not be surprised to see **HOLDS BREATH** triple digit silver by the end of 2011. 70$ should be a breeze. This, of course, is dependent on relatively similar monetary policies and fiscal policies.
    Last edited by Seraphim; 05-04-2011 at 03:56 PM.

  17. #74
    Went back in the thread for some predictions...

    Quote Originally Posted by ctiger2 View Post
    Some are thinking $27-$33 range.
    Quote Originally Posted by Seraphim View Post
    I have 33$ pegged as the LOWEST it will go.

    I am inclined to think the brutal drop will be met with rebellious support.

    In USD, I think it will begin to hit A LOT of support at worst around 37$.

    The long term fundemental bulls will stop the bleeding once they start seeing spot prices beginning with the number 3.
    Quote Originally Posted by AZKing View Post
    I'm kind of convinced they're trying to push it to mid 30s for the summer... I don't mind too much. Most of my silver is from the mid 20s and ~10 oz from 35-40.

    It's a buying opportunity. And hopefully it really is and they're not just trying to shake out some people.
    Quote Originally Posted by Brian4Liberty View Post
    So where's the bottom going to be?

    IMHO, worst case scenario (total crash) takes us down to a minimum of $20/oz. Barring a total crash scenario, and looking at a typical draw-back, maybe $30 will be the bottom?

    What do the technical gurus think?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  18. #75
    Also, once the support is established and prices start moving up again - woe is me if I start hearing SILVER IS IN A BUBBLE once prices hit 45$ again.

    Silver won't be in a bubble - or even close to it...until you see the currency/debt issues resolved or even STABILIZED.

    Over the next decade, HEALTHY currencies such as the CAD and AUD will likely see 300$ silver as a "normal". I.e prices will go MUCH higher than that, and then correct from the ACTUAL bubble price.

    Ladies and gents - the debt/currency bubble has gone parabolic - it WILL collapse and when it does the nominal funny money valuations on ALL commodities will go insane.
    Last edited by Seraphim; 05-04-2011 at 04:04 PM.

  19. #76
    Quote Originally Posted by Seraphim View Post
    This, of course, is dependent on relatively similar monetary policies and fiscal policies.
    Is´nt it frustrating that investing turned basicly into betting on decisions of central planners?
    I would love to invest according to fundamentals and pick stocks. Now i have to put my main focus on what some corrupt freaks decide to be the "right" economic policy. I hate it, although i make some money from it. Morally it´s ashaming to me.

  20. #77
    I hear ya.

    I'd rather be invested in dividend paying companies and have our currencies be market oriented (which would mean my silver would be less of an investment and just MONEY) free from central planning printing presses.

    Alas, that is not the case. Thus, I view precious metals, energy and real estate to be the best investments.



    Quote Originally Posted by swissaustrian View Post
    Is´nt it frustrating that investing turned basicly into betting on decisions of central planners?
    I would love to invest according to fundamentals and pick stocks. Now i have to put my main focus on what some corrupt freaks decide to be the "right" economic policy. I hate it, although i make some money from it. Morally it´s ashaming to me.

  21. #78
    Quote Originally Posted by Brian4Liberty View Post
    So where's the bottom going to be?

    IMHO, worst case scenario (total crash) takes us down to a minimum of $20/oz.
    By total crash, I mean if there is another stock market crash. Unfortunately that will also take metals down to a certain extent because people will need real money, and will be selling some of their winners to cover loses.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  22. #79
    Quote Originally Posted by Brian4Liberty View Post
    So where's the bottom going to be? ...
    Hard to predict anything when they keep changing the rules. Margins hiked today (again!) for the 4th time in the last 8 days - this time by another 17%! The COMEX must really be in deep doodoo.

  23. #80
    20$ silver due to a MARKET WIDE crash would still represent a 150% increase in price from the last crash bottom - VERY BULLISH.

    Quote Originally Posted by Brian4Liberty View Post
    By total crash, I mean if there is another stock market crash. Unfortunately that will also take metals down to a certain extent because people will need real money, and will be selling some of their winners to cover loses.



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  25. #81
    Okay not to sound smut, but there is a lot of uneducated talk going on here. I recommend using tfmetalsreport.blogspot.com to learn about what is going on.



    I would guess 36 at lowest, they are increasing margins effective tomorrow close and monday close. However, mining stocks may be bottoming and ready for a takeoff. Quarter 1 earnings reports are coming out and the results are stellar (record prices for metals = record earnings). For reference, the price of silver now is what it was a little over 2 weeks ago. The price of gold/silver now is higher than the avg price the miners will be showing record profits at...

    Scott
    http://thehardrightedge.com

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  26. #82

  27. #83

    #39.05 and falling--hope y'all sold in the 40s and took some profits



    $37.99 here we come!

  28. #84
    Quote Originally Posted by bobbyw24 View Post


    $37.99 here we come!
    It´s the same move since 4 days, like clockworks: Hongkong closes, silver takes a dive. When the Crimex opens at 8 am ET there will be a short rally. Then at about 8:30 the trend will turn until 12 am ET (London pm price fixing!), then again a short rallly and finally the next major downturn. We had this for 3 1/2 days now. The closing price for the day will be visible at about 3 pm ET:
    Last edited by swissaustrian; 05-05-2011 at 05:02 AM.

  29. #85
    Uh oh. $37.54 and falling. Should I buy or wait for $33/oz? I am confused. People here said that The Fed's Printing Press would assure that Silver will hold steady and that only a fool uses FRNs.


  30. #86

    Silver Investors Dump Futures as Comex Boosts Speculator Trading Costs 84%

    The biggest slump for silver since 1983 may not be over as the Comex exchange in New York makes it 84 percent more expensive for speculators to trade the metal, triggering an exit by investors.

    The minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures will rise to $21,600 per contract after May 9, CME Group Ltd., Comex’s owner, said yesterday. That’s up from $11,745 two weeks ago. Open interest in futures has tumbled about 15 percent since the exchange began raising margin requirements on April 25.

    Prices may drop another 12 percent to $34 an ounce by the end of next week, according to the average forecast in a Bloomberg News survey of six analysts. Silver has more than doubled in the past year as record-low U.S. borrowing costs and a slumping dollar prompted investors to buy precious metals as alternative assets.

    http://www.bloomberg.com/news/2011-0...costs-84-.html

  31. #87

    Silver set for worst week in 20 years, gold holds

    * Silver set for biggest weekly slide since at least 1989

    * iShares Silver Trust holdings drop, most since early 2008



    By Amanda Cooper

    LONDON, May 5 (Reuters) - Silver prices were on track for their largest weekly fall in over 20 years on Thursday, as investors pulled their money out of the metal after its rise last week to 31-year highs.

    A fourth rise in margin requirements for U.S. silver futures added to the pressure on the market, while global holdings of silver in exchange-traded funds staged their biggest one-day decline this year.

    http://www.sharenet.co.za/news/Silve...4d1e15649c8a64

  32. #88
    I´m not buying before monday because there will be another margin hike on 5-9. Maybe then we find a bottom. One thing is for sure: Volatile times ahead. Fasten your seatbelts! Hitorically may was a rather bad month for silver: http://www.kitco.com/charts/historicalsilver.html But it often marked the low for the year too.



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  34. #89

  35. #90
    Quote Originally Posted by bobbyw24 View Post
    Uh oh. $37.54 and falling. Should I buy or wait for $33/oz? I am confused. People here said that The Fed's Printing Press would assure that Silver will hold steady and that only a fool uses FRNs.

    Silver was also going full retard when priced in real money gold. What concerns me now is that the last two days also gold is going down. Now it already retreated over 5% from it's all time high.

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