When the US market opens "they" will try their best to bust it back down.I know, right? I had to do a double-take when I saw it, since I remember it closing just shy of 72 before the holiday. $1+ in a matter of minutes is pretty noteworthy. Like Bitcoin in reverse!
I've noticed that a lot of the big price spikes come when the US markets are closed. The Asians are buying hand over fist while the Americans are asleep at the wheel. As usual!
I agree! What really freaks me out is after watching silver for almost twenty years seeing a random date silver eagle selling for $85!!!
Yes, save the two bucks plus it has $5face instead of $1!A BU random year Eagle on APMEX is $82.92 right now.
But a BU random year Canadian Maple Leaf is only $80.94!
Is it worth saving $2 to accept Canadian???
It'd have to get well into triple digits before I'd even entertain the idea, much less actually pull the trigger.
Knowing when to sell won't likely be evident. I've never been through a zombie apocalypse before.... or have I?
4 days later: 43K
You ain't kiddin'. Up better than 10% on the day...never could've guessed it'd flirt with 80 down the stretch. What a finish!
usawatchdog.com
No grain of salt necessary. It's entirely plausible. The futures market is the point of origin when it comes to price suppression of both metals. So it makes sense that this is precisely where the swindle will begin to unravel. It's also in alignment with basically everything that those in the know have been saying for a number of years, but particularly Peter Schiff. He refers to the culmination as a "sovereign debt crisis," and debt is really at the heart of the greater chicanery executed by the financial system, even well beyond the precious metals sphere. It's how the housing bubble 2.0 and stock bubble and bond bubble and tech bubble have been inflated, and now propped up to keep the air from rushing out. This Bill Holter dude is basically putting all his chips on the silver squeeze as the pin that pops all of them. Simultaneously. All I can stay is...stand clear. And get your cellar in order!Take it with a large grain of salt, but these are not normal times, and it could end up being entirely accurate:
This is the Hunt brothers on steroids because you have the entire world buying physical. The Hunt brothers got into trouble because they were buying paper contracts, and COMEX changed the rules. COMEX can change any rules they want . . . it won’t matter because the rest of the world is buying cash and carry . . . they will not accept paper contracts. They want real physical metal.”
“People say if they can’t deliver, and I am going to tell you at some point they will not be able to deliver, when that moment happens, it’s game over for the entire financial system. Silver, and I believe it will be silver that fails to deliver, silver is the blasting cap to the gold nuclear bomb. When silver fails to deliver, then immediately there will be a pile into COMEX gold, and they will not be able to deliver the gold. Once that happens, you have failures of contracts that are proven fraudulent. They are zeroed out and cannot perform. Then it spreads to cattle, pork bellies, grains and you name it. This is not to mention the financials of stocks and bonds. Once you prove fraud in silver, that’s going to spread to all the derivatives, and we will have a derivative meltdown. . .. The world wants gold and silver because those are the only two monies that cannot default.”
“These contracts are a zero-sum game. There is a winner and a loser. If the loser loses so big that they go belly up, then the winner becomes a loser because they can’t get paid. That is the problem. . .. When this actually hits and there is a failure to deliver, gold and silver will be wiped off the shelves, and there will be none to be bought. . .. This will be a run for safety, and fear is the greatest emotion there is. Fear is a far greater emotion than greed. . .. This is going to turn into a reverse bank run into gold and into silver because they cannot default in a world that is defaulting. . .. What you are witnessing is the end of trust. When you have the end of trust, the confidence breaks and credit is forthcoming only when there is trust. Once confidence breaks, the credit markets will begin to seize up. . .. When credit stops, it’s game over. You will see markets, institutions and stores shutter.”
The End of the Fiat Experiment – Bill Holter | Greg Hunter’s USAWatchdog
By Greg Hunter’s USAWatchdog.com Financial writer and precious metals expert Bill Holter (aka Mr. Gold) has been sounding the alarm of the profound risk in the financial system. At the beginning of December, Mr. Gold warned about the record setting silver prices and said, "It’s pretty clear and...
