Long Position on Silver and Gold?

[davsel]

Is that a satellite dish in the lower right?
I want a safe lined with that!

bury PMs under large rocks - protected from forest fires.

[<MADDOG>]

Is that a satellite dish in the lower right?
I want a safe lined with that!

bury PMs under large rocks - protected from forest fires.

You're right, damn satellite TV will outlive cockroaches... I didn't even see that!

[Great-Kazoo]

Is that a satellite dish in the lower right?
I want a safe lined with that!

bury PMs under large rocks - protected from forest fires.

Large rocks will crack and or explode under intense heat. The igneous and magnanimous will fair better than others, however they all shit the bed under that level of heat.

[Sawin]

Safe Perhaps?


It looks to be in the garage area, and against a now-absent wall, so it's possible. I doubt a fridge/freezer would still have any kind of recognizable form, but that looks at least a little bit like a safe to me. It also looks about the right size relative to the crispy car in the driveway....

[Sawin]

Yea I'm gonna to do this too ^^^^. Unless it drops down to $18 or so. I'm hoping it goes up to $50 an ounce again without the economy crashing.

At this rate, we might actually see $18 soon... If so, I will begin buying a few oz again in increasing quantities especially if the price continues to drop through the new year. Some fringe rumors say it could hit $9 next year... who knows.

[MrPrena]

I am not a precious metal nor commodities expert.
Just looking at the macro perspective, Precious metal should have gone up due to no taper and increase in MS.

However, if you look at the TA, precious metal is testing lots of new support.
It was overbought since 2011.

[sellersm]

It's being squashed, on purpose. Give it time. It'll be the only game in town within a year or two...

[davsel]

^^^ This
The gamblers are making money hand over fist in the market due to QE pumping. They plan to cash out just before the crash. A few will (bankers), most will not.
Once the QE stops, physical PMs will rise exponentially.

[sellersm]

According to Stephen Leeb, this is just a propaganda campaign & smashing the gold price today lends credence to the Fed's claims that "all is well"...

“We have been seeing that China’s intake of gold is considerably greater than that what is being reported. All that is reported is the gold they get through Hong Kong. That has already reached 850 tons this year. So China will take in well over 1,000 tons of gold this year, and possibly as high as 1,100 tons of gold through Hong Kong.

But the Chinese are taking gold in from other sources as well, and no one really knows the extent of it. This does not include central bank buying. So how many years is China going to be taking in 1,500 or more tons of gold before they say to themselves, ‘This is a lot of gold we have and the dollar is a pretty lousy currency.’



Why would China want dollars when there is no guarantee the US will be able to keep the government open past mid-January. China also runs the risk of a US default or something catastrophic when they hold dollars. So when you see the price of gold drop on propaganda from the Fed, when we know that China’s purchases of gold have been greatly accelerated, it’s time to buy.



We know that Obamacare is literally blowing up. There are stories all over the media that your data isn’t safe if you go to Obamacare. Also, states that have been successful at it, like Massachusetts, are paying through the nose. To me this is not a recipe for falling gold prices and a stronger dollar.



Remember, the Fed is already buying over $1 trillion a year. So if they move to buying $700 billion a year, who cares? That’s still an extraordinary amount of money printing. They are still monetizing the debt. This is unsustainable.



But the Fed comes out with this Joseph Goebbels style propaganda today, and in order to make it look credible they smash the price of gold. You know, Eric, 6 years or 7 years ago I didn’t believe in conspiracies. But when you have the rigging of the LIBOR market, as well as so many other markets staring you in the face, it’s becoming obvious that something is wrong with the gold market.



It’s obvious that the US dollar is losing its supremacy. Various countries no longer want to trade in dollars. What do they turn to, Europe? That’s where you have right wing forces taking over even in places like France. Europe is a mess. It’s a question of when, not if that continent explodes?



This means that major countries such as China have to turn to gold. That’s why the Chinese are accumulating gold at an all-time record pace. It’s also looking increasingly obvious that the West is in some kind of agreement with China to sell them cheap gold. There is no other way to explain the price action.



Regardless, all this type of manipulation and dishoarding of gold from the West to the East does is hasten the day in which China, Russia, and Germany are going to introduce another reserve currency to the world. And the yuan is going to have a prominent role there.



This is why the Chinese are buying up all of the available gold for sale in the world. They are literally in a race to accumulate gold. You can see it in the data. Yet the Western based Ponzi scheme paper markets in gold take the price lower. Yes, there is something strange going on here but I can promise you it’s unsustainable. The Chinese will revalue gold when they are ready and that day is coming.



Then it will be goodbye dollar and hello gold. And when I say, ‘hello gold,’ I’m not talking about a run to the old highs. I’m talking about gold many thousands of dollars higher than current levels, and quite possibly over $10,000 an ounce. There is just no way around this outcome, but until that day comes, the West will desperately cling to Fed propaganda and paper gold price suppression until it blows up in their faces.”

[roberth]

It's being squashed, on purpose. Give it time. It'll be the only game in town within a year or two...

This...and the DOW, NASDAQ, S&P are all reaching new highs weekly/monthly. People are looking for short term, high gain investment opportunities and the QE plays right into that short-term thinking.

PMs are a long term inflation fighter, not for day traders.