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Post your conspiracy theory here about why silver went down 2.00 today

BigEBigE Posts: 6,949 ✭✭✭
in Precious Metals
Weird, funny or true is okimage

Here is mine

The government used part of the 700 billion to make it cheaper for the mint to replenish it's silver supply----------------BigE

(by shorting silver on Comex)
I'm glad I am a Tree

Comments

  • SmittysSmittys Posts: 9,876 ✭✭✭✭✭
    panic selling, no conspiracy , blind selling in fear....JMHO
    https://www.ebay.com/str/christyscoins
  • cinman14cinman14 Posts: 2,489 ✭
    The shorts sold because the economy is in recession... Needed to replenish shares before they dropped
    further...

    Hedge funds selling off to cover margin calls....

    imageimageimage
  • fcfc Posts: 12,793 ✭✭✭
    for some people, cash is more important then bullion at this point.
    me? i think it is really oversold. planning to buy some more right now.
  • trozautrozau Posts: 3,455 ✭✭✭
    It's all the paper PMs, I tell you! image
    trozau (troy ounce gold)
  • storm888storm888 Posts: 11,701 ✭✭✭
    Margin Calls are rampant.

    SLV LONGs were not immune. MOST, will wait the limit; next week will be harsh.

    ////////

    MANY GLD/SLV SHORTs will cover in a few minutes. Should be a pop; lots have
    no plans to cover in this range.

    I was tempted a bit ago. I left the screens for a few minutes and the urge passed.

    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
    The giant conspiracy of Ted Butler's to support silver prices fell apart with a vengeance as a huge influx of 1000 oz. bars inundated the Comex and drove the price down.

    Of course, the 1000 oz. bars were really just promises to deliver, created by Alan Greenspan, who gave Ben Bernake the secret hand signal to call JPMorgan, who then put in 1,000,000 orders to sell short, which they did...................

    ...........just as Bernake injected $125,000,000,000,000,000,000 (rounded to nearest 000,000,000,000,000) into the commercial banking system and the newly-nationalized investment banks, insurance industry, and home mortgage lending institutions.

    Upon which, Hank Paulson declined an invitation from our favorite Finance Committee Senators & Representatives to attend a deal closing party to celebrate the takeover of the US Treasury by JP Morgan, off the island of Cyprus, citing "prior committments" over the weekend with the President and assorted European money men, oil shieks, Chinese import/export businessmen, finance ministers, and the IMF.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • fishcookerfishcooker Posts: 3,446 ✭✭

    Same as happened before - some trader typed "1,000,000" in the Sell box when he really meant "10,000."

    They've already contacted the exchange, and an official "Do Over" will be instituted. Afterward, the head of the exchange will go for a weekend of goose hunting and golfing with the CEO of the hedge fund. All will be right in the world.

    And before you even ask.... NO, there are no "Do Overs" for you.
  • unknowncomicunknowncomic Posts: 945 ✭✭
    As my granddad used to say" It's all a commie plot".That covered everything from the takeover of Eastern Europe to the rise in price for his newspaper. (went from 5 cents to 7 cents )
    Molon Labe
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    It smacked the 16 day sma yesterday.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • DeadhorseDeadhorse Posts: 3,720 ✭
    Many of the hedge funds came due today.

    People wanted their cash. Nobody wants paper.

    This has caused a huge sell off in gold by the Central Banks to cover.

    It will be worse next week as the bulk of the hedge funds come due then.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • jamakinjamakin Posts: 1,055
    I posted this before but it bears repeating:
    lease rates spiked then price crashed
    High lease rates will encourage stockpilers of the metal to sell into the spot market even when they wish to maintain their inventory levels.
    Being guaranteed to buy the same metals back for a lower cost at a future date offers them every possible financial advantage.
    For this reason exceptionally high lease rates cause the demand for immediate delivery to be satisfied, and therefore never last too long


  • KCCKCC Posts: 129


    << <i>panic selling, no conspiracy , blind selling in fear....JMHO >>



    image


    I also agree that in this environment some people only want cash . . .image
    -Ken
  • moonshinemoonshine Posts: 1,039 ✭✭
    I think it's Russ's fault.

  • OverdateOverdate Posts: 7,016 ✭✭✭✭✭
    I notice the price on silver and gold eagles hasn't changed much even though the underlying metals are down. This means premiums are up.

    Common date silver eagle rolls are still fetching $380 to $400, and one-ounce gold eagles are going for $1,075 to $1,100.

    My Adolph A. Weinman signature :)

  • 7over87over8 Posts: 4,733 ✭✭✭
    the problem is WHERE the selloff occurred.....

    In the thin Globex AFTERMARKET....the selloff was the most fierce.

    We all know who participates there, the largest traders, in the thinly traded market, very easy to put a dent in PM's

    My opinion is two fold:

    1) Raising Cash - as explained on earlier threads, cash was raised through manipulation of paper rather than hard metal sales.......it's easy, it works, why not?

    2) Removal of the Peceived SAFE HAVEN - with money flowing OUT of equities, debt, MM's - purchases of the PM's are huge, reflected in the lack of real physical supply and high premiums........well, if you want the OUTFLOW of CASH CEASED, whay do you do? Bang up the price, putting doubt in buyers minds of the so-called SAFE HAVEN and they leave their cash in the markets for yet another day......

    BTW, #1 should be outlawed. No naked shorts. Should require Shorts to be secured by physical bars that are on deposit with COMEX and verified by serial numbers. No metal, no shorts.
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