Typical silver trade, build a multi year base, have an exponential run up, then a 70-80% sell off, rinse and repeat. $24-36 is where the next base will form and the years long wait for another bull move.
@jmski52 said:
Fast money, derryb! You've positioned yourself well and I'm sure that you can tolerate the risk.
However, slow but sure works for me.
Keep buying, $30's coming next. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Well another couple hundred ounces of silver added to the stack yesterday plus an ounce of gold . Will do, Blitzdude. And if we go to $30 ….. I’ll start moonlighting at 71 years old.
Before you criticize another you should walk a mile in his shoes. Then, you’ll be a mile away and you’ll have his shoes.
@derryb said:
FED policy destabilizes the economy, war helps solve the problem. War also continues to enrich those who >benefited from the destabilized economy. Win-win for the select few. Think again if you don't believe your economic >destiny is greatly determined by others.
This "war" has less action than the NFL, which has teams playing weekly. We fire some shots every few weeks. It's lasted 7 months with maybe 4 weeks of fighting. Some war !!
It's not win-win for anybody even though some sectors are doing fine and others not so. That's the market at work reallocating capital.
@dcarr said:
Yes, the economy WAS better off prior to 1913.
Talking about "economic cycles", it is important to mention the Federal Reserve Bank's actions which led to the >GREAT DEPRESSION and WW2.
Except nobody is going back to a gold standard that was anti-democratic after the events of WW I. The adjustment factors of an internal devaluation are simply too hard, as we learned in The Great Depression.
Actually, modern economic theory now gives less weight to the FRB's actions vis a vis The Great Depression....and more to those of other central banks, including the Bank of France. They were very tight monetarily thinking that defending the value of the franc was their only goal.
The labor, democratic, and civil unrest following WW I made a return to the pre-war Gold Standard impossible, despite everyone trying to put Humpty Dumpt back together again.
Plenty of new material on this for those who want to learn; if you have the $$$, I recommend Eichengreen's GOLDEN FETTERS from Oxford University Press as the best analysis (at least up to the mid-1990's). Had Friedman & Schwartz had this data in the 1960's their MONETARY HISTORY magnus opus would have been less harsh on The Fed in the 1920's and 1930's.
@dcarr said:
Most of this was caused by banks.
Some of it is typical economic cycles, much overblown in this list (FRB "propaganda").
No, it was caused by the Laws of Economics. An adjustment -- a devaluation of economic variables -- needs to occur and it has to be internal or external.
A gold standard or other fixed-currency regime mandates an internal devaluation based on lower wages and prices. When they inevitably do not adjust quickly enough, unemployment and output collapse. Monetary policy and currency devaluation are not options.
Also, it wasn't the Panic of 1893 that led to the creation of the Fed....it was the Panic of 1907:
@dcarr said:
Most of this was caused by banks.
Some of it is typical economic cycles, much overblown in this list (FRB "propaganda").
No, it was caused by the Laws of Economics. An adjustment -- a devaluation of economic variables -- needs to occur and it has to be internal or external.
A gold standard or other fixed-currency regimer mandates an internal devaluation based on lower wages and prices. When they inevitably do not adjust quickly enough, unemployment and output collapse. Monetary policy and currency devaluation are not options.
Also, it wasn't the Panic of 1893 that led to the creation of the Fed....it was the Panic of 1907:
.> @GoldFinger1969 said: @RedneckHB said: It's manipulation. Physical stock available for delivery is low and getting lower.
Yes, when prices move against us it's manipulation....when they move in our direction, we're trading geniuses.
I dont think that quote should be attributed to me as my stance on "manipulation" is well documented. I do agree with your rebuttal to the whoever you intended to quote.
@GoldFinger1969 said:
I don't know what the point of your gold assets vs. liabilities charts means.
Without fractional lending of said gold reserves, contractions would have been far deeper.
Also, Gold Clause FRNs were not the same as GCs. 40% gold backing.
.
April 1933,
There were claims on 170,600 metric tons of gold. But less than 8,700 metric tons was available.
This is where the "incompetence or malfeasance" comes in. Why was that allowed to occur ?
If this had been managed properly, "contractions" would have been much shallower, especially without the excesses of the "Roaring 1920s".
@GoldFinger1969 said:
I don't know what the point of your gold assets vs. liabilities charts means.
Without fractional lending of said gold reserves, contractions would have been far deeper.
Also, Gold Clause FRNs were not the same as GCs. 40% gold backing.
.
April 1933,
There were claims on 170,600 metric tons of gold. But less than 8,700 metric tons was available.
This is where the "incompetence or malfeasance" comes in. Why was that allowed to occur ?
If this had been managed properly, "contractions" would have been much shallower, especially without the excesses of the "Roaring 1920s".
@TwoSides2aCoin said:
Well another couple hundred ounces of silver added to the stack yesterday plus an ounce of gold . Will do, Blitzdude. And if we go to $30 ….. I’ll start moonlighting at 71 years old.
Careful, the pump is typically an once generation thing. At 71 you and most of us here are very unlikely to see it happen again. Perhaps even I'll be buying some paper gutter down in the $30s. Certainly not the fiz, de shat turned me bleu! THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
@derryb said:
FED policy destabilizes the economy, war helps solve the problem. War also continues to enrich those who >benefited from the destabilized economy. Win-win for the select few. Think again if you don't believe your economic >destiny is greatly determined by others.
This "war" has less action than the NFL, which has teams playing weekly. We fire some shots every few weeks. It's lasted 7 months with maybe 4 weeks of fighting. Some war !!
You fail to realize the real impact that war spending has on an economy. Would have thought they taught you that in Econ 101.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@dcarr said:
Most of this was caused by banks.
Some of it is typical economic cycles, much overblown in this list (FRB "propaganda").
No, it was caused by the Laws of Economics. An adjustment -- a devaluation of economic variables -- needs to occur and it has to be internal or external.
"devaluation of economic variables?" Sounds like gobbledegook from a government press release. Devaluation of anything is simply movement of the goal post to create a different reality. In ecomomics it is a paradigm shift that destroys currency value.
MMT, Modern Monetary Theory (a belief in a Magic Money Tree) is a socialist threat to the value of our currency and to the stabilization of our soverign debt.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@GoldFinger1969 said:
I don't know what the point of your gold assets vs. liabilities charts means.
I suspect the point is this: there are almost 20 times promises for gold than there is actual gold when looking at the state of US gold. Reflects how the PM futures market operates. Sorta like the paper promises your bank holds when they turn around and loan out 10X the actual money you loaned to the bank when you made a deposit.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@GoldFinger1969 said:
I don't know what the point of your gold assets vs. liabilities charts means.
Without fractional lending of said gold reserves, contractions would have been far deeper.
Also, Gold Clause FRNs were not the same as GCs. 40% gold backing.
.
April 1933,
There were claims on 170,600 metric tons of gold. But less than 8,700 metric tons was available.
This is where the "incompetence or malfeasance" comes in. Why was that allowed to occur ?
If this had been managed properly, "contractions" would have been much shallower, especially without the excesses of the "Roaring 1920s".
.
Wrong lane bro.
.
That is a wrong lame response.
My point is valid and the data is accurate.
All you have is a "LOL" and a "Bro" ?
@dcarr said:
April 1933, There were claims on 170,600 metric tons of gold. But less than 8,700 metric tons was available.
This is where the "incompetence or malfeasance" comes in. Why was that allowed to occur ?
If this had been managed properly, "contractions" would have been much shallower, especially without the >excesses of the "Roaring 1920s".
The contractions would have been WORSE....much worse....and the Gold Standard, even lax, was one of the reasons we had The Great Depression.
Maybe we would have had less GDP growth in the 1920's, maybe not. Would it be worth it just to save 1% on inflation ?
What is better: 3% real GDP growth with 2.5% inflation....or 1% real GDP growth with 1% inflation ?
Well life in the gutter certainly doesn't look well. But then, what else is new? RGDS!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
200 MA aside, the fundamentals for silver haven't changed one bit. It's moving closer to becoming banking collateral, which is to say that it's closer to becoming remonetized. There's still a supply deficit and silver is now a strategic metal. Gutterman can't even see past the edge of his gutter.
Eligible silver at the Comex has been drawn down sharply and Jamie Dimon isn't happy about it. Eligible means that it wasn't even being offered for sale. Sounds pretty interesting to me.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Eligible silver at the Comex has been drawn down sharply and Jamie Dimon isn't happy about it. Eligible means >that it wasn't even being offered for sale. Sounds pretty interesting to me.
Jamie Dimon doesn't give a rat's ass about Silver at the Comex or anywhere else.
Listen to a quarterly CC on earnings or read their balance sheet. $300 billion in Tier 1 capital and you think $300 million in trading revenue from silver moves the needle ?
Jamie Dimon doesn't give a rat's ass about Silver at the Comex or anywhere else.
He sure sounded flustered about the fact that large amounts of both silver and gold were leaving the Comex for parts unknown. All of that nice Tier One collateral leaving his control.....................
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
200 MA aside, the fundamentals for silver haven't changed one bit. It's moving closer to becoming banking collateral, which is to say that it's closer to becoming remonetized. There's still a supply deficit and silver is now a strategic metal. Gutterman can't even see past the edge of his gutter.
Eligible silver at the Comex has been drawn down sharply and Jamie Dimon isn't happy about it. Eligible means that it wasn't even being offered for sale. Sounds pretty interesting to me.
contrary to popular forum belief, Dimon's JP Morgan has its own very, very, very large position in physical silver, much of it leased/loaned (including to ETFs). JPM is one of the largest vault operators and owners on the COMEX exchange, holding roughly about 50% of total deliverable COMEX silver. For good reason they have found ways to not specifically identify it in as an asset on their balance sheet.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@jmski52 said:
He sure sounded flustered about the fact that large amounts of both silver and gold were leaving the Comex for >parts unknown. All of that nice Tier One collateral leaving his control.....................
I doubt he was "flustered"........ commodities don't count towards CET1 calculations.
@derryb said:
contrary to popular forum belief, Dimon's JP Morgan has its own very, very, very large position in physical silver, >much of it leased/loaned (including to ETFs).
Funny, it's not on the balance sheet. Maybe Jamie and JPM are committing fraud, huh ?
They are the custodians for SLV and other silver ETFs and ETNs. They are NOT speculating on the price of silver.
Mike Mayo, the best bank analyst out there, has never seen it, either.
JPM is one of the largest vault operators and owners on the COMEX exchange, holding roughly about 50% of total >deliverable COMEX silver. For good reason they have found ways to not specifically identify it in as an asset on >their balance sheet.
Funny, it's not on the balance sheet. Maybe Jamie and JPM are committing fraud, huh ?
Why did JPM pay a $920 million fine for manipulating the silver market? Paying the fine as a cost of doing business doesn't make them innocent and you trying to run interference for them isn't very flattering.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Why did JPM pay a $920 million fine for manipulating the silver market? Paying the fine as a cost of doing business >doesn't make them innocent and you trying to run interference for them isn't very flattering.
Because technical violations of trading procedure by 1 or 2 traders do not equate to market manipulation of price.
If you think that a few guys on a trading desk can affect the worldwide price of silver by "spoofing" trades, you clearly don't know how markets work. The fact that silver did NOTHING after the trading ceased should tell you something.
@rooksmith said:
Another day, another bloodbath for silver.
It's manipulation. Physical stock available for delivery is low and getting lower.
One man sees bloodbath, another sees steals of deals.
For someone watching the market once a year and not daily, silver has been a yawner. Silver up $1 in the past year is about what a CD would have paid.
Stackers don't think like that. Silver is not a front line investment. It's a safe haven from the eroding fiat dollar over time. Ask a pre 1965 dime, quarter, or half..
Comments
Fast money, derryb! You've positioned yourself well and I'm sure that you can tolerate the risk.
However, slow but sure works for me.
I knew it would happen.
Typical silver trade, build a multi year base, have an exponential run up, then a 70-80% sell off, rinse and repeat. $24-36 is where the next base will form and the years long wait for another bull move.
let volatility be your friend. Stack gold, trade silver.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
Stack both. But not if you have weak hands.
COPPER is gutter !
Keep buying, $30's coming next.
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Well another couple hundred ounces of silver added to the stack yesterday plus an ounce of gold . Will do, Blitzdude. And if we go to $30 ….. I’ll start moonlighting at 71 years old.
Before you criticize another you should walk a mile in his shoes. Then, you’ll be a mile away and you’ll have his shoes.
For someone watching the market once a year and not daily, silver has been a yawner. Silver up $1 in the past year is about what a CD would have paid.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
yes, but you overlook all the money making volatility in that past year. Leveraged silver ETFs provided twice the spot movement in both directions.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
Yes, when prices move against us it's manipulation....when they move in our direction, we're trading geniuses.
This "war" has less action than the NFL, which has teams playing weekly. We fire some shots every few weeks. It's lasted 7 months with maybe 4 weeks of fighting. Some war !!
It's not win-win for anybody even though some sectors are doing fine and others not so. That's the market at work reallocating capital.
Except nobody is going back to a gold standard that was anti-democratic after the events of WW I. The adjustment factors of an internal devaluation are simply too hard, as we learned in The Great Depression.
Actually, modern economic theory now gives less weight to the FRB's actions vis a vis The Great Depression....and more to those of other central banks, including the Bank of France. They were very tight monetarily thinking that defending the value of the franc was their only goal.
The labor, democratic, and civil unrest following WW I made a return to the pre-war Gold Standard impossible, despite everyone trying to put Humpty Dumpt back together again.
Plenty of new material on this for those who want to learn; if you have the $$$, I recommend Eichengreen's GOLDEN FETTERS from Oxford University Press as the best analysis (at least up to the mid-1990's). Had Friedman & Schwartz had this data in the 1960's their MONETARY HISTORY magnus opus would have been less harsh on The Fed in the 1920's and 1930's.
No, it was caused by the Laws of Economics. An adjustment -- a devaluation of economic variables -- needs to occur and it has to be internal or external.
A gold standard or other fixed-currency regime mandates an internal devaluation based on lower wages and prices. When they inevitably do not adjust quickly enough, unemployment and output collapse. Monetary policy and currency devaluation are not options.
Also, it wasn't the Panic of 1893 that led to the creation of the Fed....it was the Panic of 1907:
https://www.federalreservehistory.org/essays/panic-of-1907
.
Incompetence or malfeasance ?
It has to be one or the other, or some of both:
I don't know what the point of your gold assets vs. liabilities charts means.
Without fractional lending of said gold reserves, contractions would have been far deeper.
Also, Gold Clause FRNs were not the same as GCs. 40% gold backing.
.> @GoldFinger1969 said:
@RedneckHB said: It's manipulation. Physical stock available for delivery is low and getting lower.
I dont think that quote should be attributed to me as my stance on "manipulation" is well documented. I do agree with your rebuttal to the whoever you intended to quote.
Knowledge is the enemy of fear
.
April 1933,
There were claims on 170,600 metric tons of gold. But less than 8,700 metric tons was available.
This is where the "incompetence or malfeasance" comes in. Why was that allowed to occur ?
If this had been managed properly, "contractions" would have been much shallower, especially without the excesses of the "Roaring 1920s".
.
Wrong lane bro.
Knowledge is the enemy of fear
Careful, the pump is typically an once generation thing. At 71 you and most of us here are very unlikely to see it happen again. Perhaps even I'll be buying some paper gutter down in the $30s. Certainly not the fiz, de shat turned me bleu! THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
You fail to realize the real impact that war spending has on an economy. Would have thought they taught you that in Econ 101.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
"devaluation of economic variables?" Sounds like gobbledegook from a government press release. Devaluation of anything is simply movement of the goal post to create a different reality. In ecomomics it is a paradigm shift that destroys currency value.
MMT, Modern Monetary Theory (a belief in a Magic Money Tree) is a socialist threat to the value of our currency and to the stabilization of our soverign debt.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
I suspect the point is this: there are almost 20 times promises for gold than there is actual gold when looking at the state of US gold. Reflects how the PM futures market operates. Sorta like the paper promises your bank holds when they turn around and loan out 10X the actual money you loaned to the bank when you made a deposit.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
.
That is a wrong lame response.
My point is valid and the data is accurate.
All you have is a "LOL" and a "Bro" ?
.
.
40% gold backing for what, FRNs or GCs ?
.
The contractions would have been WORSE....much worse....and the Gold Standard, even lax, was one of the reasons we had The Great Depression.
Maybe we would have had less GDP growth in the 1920's, maybe not. Would it be worth it just to save 1% on inflation ?
What is better: 3% real GDP growth with 2.5% inflation....or 1% real GDP growth with 1% inflation ?
FRN's.....GCs were 100%.
This chart is from a few months ago, I'll try and find a closer update. But you can see where the support and resistance levels were back then:
Speak of the Devil......updated Silver comments and chart:
Well life in the gutter certainly doesn't look well. But then, what else is new?
RGDS!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
first hand look? You shoulda sold the highs.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
200 MA aside, the fundamentals for silver haven't changed one bit. It's moving closer to becoming banking collateral, which is to say that it's closer to becoming remonetized. There's still a supply deficit and silver is now a strategic metal. Gutterman can't even see past the edge of his gutter.
Eligible silver at the Comex has been drawn down sharply and Jamie Dimon isn't happy about it. Eligible means that it wasn't even being offered for sale. Sounds pretty interesting to me.
I knew it would happen.
Jamie Dimon doesn't give a rat's ass about Silver at the Comex or anywhere else.
Listen to a quarterly CC on earnings or read their balance sheet. $300 billion in Tier 1 capital and you think $300 million in trading revenue from silver moves the needle ?
.
THEY LIED.
Issuance of US Treasury Gold Certificates was more than two times the total amount of gold that was in reserve.
So they had less than 50% backing.
Gold-Clause Federal Reserve Notes had no gold to back them. So they had a 0% backing.
.
Jamie Dimon doesn't give a rat's ass about Silver at the Comex or anywhere else.
He sure sounded flustered about the fact that large amounts of both silver and gold were leaving the Comex for parts unknown. All of that nice Tier One collateral leaving his control.....................
I knew it would happen.
contrary to popular forum belief, Dimon's JP Morgan has its own very, very, very large position in physical silver, much of it leased/loaned (including to ETFs). JPM is one of the largest vault operators and owners on the COMEX exchange, holding roughly about 50% of total deliverable COMEX silver. For good reason they have found ways to not specifically identify it in as an asset on their balance sheet.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
I doubt he was "flustered"........ commodities don't count towards CET1 calculations.
Funny, it's not on the balance sheet. Maybe Jamie and JPM are committing fraud, huh ?
They are the custodians for SLV and other silver ETFs and ETNs. They are NOT speculating on the price of silver.
Mike Mayo, the best bank analyst out there, has never seen it, either.
No, they haven't, check out the 10-K:
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/audited-financial-statements-2025.pdf
Held For Sale and Trading Assets are the main categories. They are run through the Income Statement or kept on the balance sheet if long-term.
Funny, it's not on the balance sheet. Maybe Jamie and JPM are committing fraud, huh ?
Why did JPM pay a $920 million fine for manipulating the silver market? Paying the fine as a cost of doing business doesn't make them innocent and you trying to run interference for them isn't very flattering.
I knew it would happen.
Because technical violations of trading procedure by 1 or 2 traders do not equate to market manipulation of price.
If you think that a few guys on a trading desk can affect the worldwide price of silver by "spoofing" trades, you clearly don't know how markets work. The fact that silver did NOTHING after the trading ceased should tell you something.
technical violations = $920 million?
Hey, I have a bridge in Arizona for you.
I knew it would happen.
Stackers don't think like that. Silver is not a front line investment. It's a safe haven from the eroding fiat dollar over time. Ask a pre 1965 dime, quarter, or half..
COPPER is gutter !
