The Sound of One Hand Clapping

Posted on May 4, 2011 by maxkeiser| 83 Comments

Share this page via FacebookShare this page via Twitter
Buy Gold Online
This entry was posted in Headlines. Bookmark the permalink.

83 Responses to The Sound of One Hand Clapping

  1. Tamir | May 4, 2011 at 7:17 pm |

    Shit man.

  2. Bill | May 4, 2011 at 7:19 pm |

    Has anyone in the main stream offered an EXPLANATION as to why they say paper silver went down so much or is it JPM can just set the price wherever they want and that is the reality?

  3. JonnyJames | May 4, 2011 at 7:21 pm |

    Article by Bob Chapman today “Dollar Weakness: Gold and Silver are the only Real Currencies”

    http://www.globalresearch.ca/index.php?context=va&aid=24619

  4. Marc Authier | May 4, 2011 at 7:22 pm |

    What ? Everybody has mortgaged his house to buy silver and gold ? USA, Europe and Japan are booming and interest rates are about to go to 22% ? :) Lol Time to rush in US treasuries and US dollars. They are so yummy yummy with the negative interest rates of minus 8%. Beyond logic. Buy with bouddhist detachment.

  6. gussy | May 4, 2011 at 7:23 pm |

    Bought some oz’s at 30e, never caught the dips yet, but the trend is my friend.

    Pssst, buy silver, crash JP Morgan.

  7. Marc Authier | May 4, 2011 at 7:24 pm |

    @Tamir
    That’s why by the way Mexico made a massive buy of 100 tons of gold the last two months. :) Lol

  8. k2 | May 4, 2011 at 7:24 pm |

    Was´nt JP Morgan supposed to crash at around 50?

  9. Vonda Bra | May 4, 2011 at 7:29 pm |

    SLA watch “silverfuturist” latest … he will cheer you up!

    Pullbacks are healthy!
    http://www.youtube.com/watch?v=H9sBVnkfyro

    (also presenting some cool tools for the FIGHT! …) :D

  10. ed | May 4, 2011 at 7:33 pm |

    Personally, I think there are alot more games that they can play that will be just as much of a shock to everyone, as this seems to be. I think the game is rigged, but way more than any of us think it is

  11. Tamir | May 4, 2011 at 7:39 pm |

    Dear Bin-Ladenites, this one is for you:

    ” This is a guy who is most vulgar and misogynist when it comes to women. I was reading his political will which was published in 2001 in Al-Anba’ (a Kuwaiti newspaper), and his last will he manages to instruct women to avoid make up “lest they look like Western whores” ”

    Remember:

    Lived life a bitch, died like a fucking whore and got disposed-of like a piece of shit.

  12. MirrorMirror | May 4, 2011 at 7:40 pm |

    @k2 … Was´nt JP Morgan supposed to crash at around 50?

    ;-)
    LOL … told ya’all !

    JPM is effectively the Govt./ FED .

  13. ilikesilver | May 4, 2011 at 7:43 pm |

    I couldn’t give a shit what the price does in the short term. I’m here for the next 50 years I hope. I have my retirement in Gold and Silver. Not a sheet of fiat ass paper anywhere. If I need to retire early for any reason the bastards can’t charge me for drawing it early. Hold the line everyone, we will prevail.

    Crash JP Morgan and the rest of the thieving assholes, buy Silver.

  15. JonnyJames | May 4, 2011 at 7:50 pm |

    @Tamir
    Seems like you bought the media propaganda lock, stock and barrel. Bin Laden was funded by the CIA back in the 80s when he was part of the Arab mujahadeen fighting the Soviets in Afghanistan. Al-Quaeda was a creation of CIA/ISI. Bin Laden has been dead for years. Do you really believe what you see on TV?

  16. LuzazuL | May 4, 2011 at 7:51 pm |

    “My men are not used to artillery. I need a miracle.”
    A day later:
    “Where are you going?”
    “To work on Your miracle, Your Highness”

  17. death to the NWO | May 4, 2011 at 7:52 pm |

    @ Tamir ,
    It has occurred to you that the US government spin BS ? Every statement coming from the mouth of those criminals is to be ignored .
    Osama had a terminal kidney disease and needed constant dialysis treatment . Was a dialysis machine found in his house ? I suggest not . Was he attending a local hospital for treatment ? Nobody is talking about is .
    Also watch Benazir Bhutto and President Zardari say that he died .
    Listen at mark 2:10

    Benazir Bhutto: Bin Laden was Murdered
    http://www.youtube.com/v/UnychOXj9Tg

    The current President of Pakistan and husband of Benazir Bhutto
    http://www.youtube.com/v/oMaQ8cUFUMI

    Osama Bin Laden Raid? Resident, Witness Says Not True
    http://www.youtube.com/watch?v=HHQkiIzYQZ8

  18. Tamir | May 4, 2011 at 7:53 pm |

    @JonnyJames,

    Bin Laden was a Saudi/Pakistani/American creation that went out of control. He did 9/11 and inspired many others. Face it, confide it, blend it.

  19. Bill | May 4, 2011 at 7:53 pm |

    Mirror: So the fact that they did not let it hit 50 and drove it down (basically by just setting the price where they wanted it) to 39 somehow negates the hypothesis that JPM would crash at 50. I mean doesn’t it actually have to hit 50 and stay there for awhile. to prove or disprove this. Looks like they are pretty afraid of 50 to me.

  21. Tamir | May 4, 2011 at 7:56 pm |

    @death to the NWO,

    I have read that Bin Laden’s brother stated that the kidney thing is not true – only a minor issue. If so, the dialysis issue is a no brainer, don’t you concur?

  22. Silver Bug | May 4, 2011 at 7:58 pm |

    Expect very strong support in the $35-38 range. The come back will be just as fierce as the fall.

    http://silverliberationarmy.blogspot.com/

  24. Bill | May 4, 2011 at 7:59 pm |

    Tamir, who cares WHAT they say?

  25. MirrorMirror | May 4, 2011 at 8:00 pm |

    @Bill … if you see a Smiley, then laugh , don’t answer !
    ;-)

    Actually, 50$ has nothing to do with JPM.
    In fact, I am pretty sure they were Long Silver .. probably abroad in some foreign fund or whatever. If they weren’t Long, I doubt we’d have seen 50$ so quickly.

    I said before, IMO it is SLV that controls the silver paper-price.
    SLV is traded by traders , maybe even HFTers.
    That is why I keep an eye on SLV volumes etc. … which has increased significantly during the run down.

  26. MirrorMirror | May 4, 2011 at 8:01 pm |

    @Bill … 100%
    It only matters what they “do” !

    Obama is the best example .. before and after he was elected.

  27. MirrorMirror | May 4, 2011 at 8:02 pm |

    @best example

    Sorry .. wrong man !
    Benny : ” I am not printing money ”
    ;-)

  28. Onlysane1 | May 4, 2011 at 8:08 pm |

    Hey,
    I talked to the my silver bullion supplier today (I got 500oz in Nov10), He’s a medium sized business and i wanted to how his supply was, to maybe BTD, he tells me,

    1. No problem supplywise and ….
    2. HE HAS JUST SIGNED A CONTRACT WITH THE CHINESE GOVT TO SUPPLY 250,000 1 kilo medallions in .999 silver PER WEEK WITH NO END TERM STIPULATED!!!

    I am in South Africa, if the Chinese are buying here they gotta be everywhere.

  29. LuzazuL | May 4, 2011 at 8:15 pm |

    What does it take for people to start trading in physical among themselves?

    How does price discovery of physical work?

  30. LuzazuL | May 4, 2011 at 8:19 pm |

    Stacy, please post the schmaka!

  31. Mike/Liverpool | May 4, 2011 at 8:19 pm |

    We getting KILLED out there Keiser!
    http://www.youtube.com/watch?v=WAvWQa64B8M

  32. MirrorMirror | May 4, 2011 at 8:26 pm |

    “There are record prices for livestock but farmers are exiting the business!” he exclaims. “Why? Farmers know they won’t make money.”

    http://gainspainscapital.com/

    Fertilizer & Land …. Financialized ( burdened with debt and high prices )!

  33. John Galt | May 4, 2011 at 8:30 pm |

    @ ilikesilver

    You have the right approach. Keep buying physical on the way down, and have the patience to wait an extended period of time while this market fraud plays itself out. Given your willingness to think long term, just bear in mind that this BS can play out for many years to come yet.

    (I know there are those who will contend that COMEX is on the verge of being totally wiped out of physical etc etc. I was hearing the same stuff in November 2008 as everything was crashing to oblivion. And every few months I keep reading more of the same, but so far it still hasn’t happened).

    Last week I mentioned that here in Canada there seems to be plenty of larger bars around, but the smaller denominations are hit & miss. I wondered out loud if maybe this “shortage” was more a function of the mint’s stamping capacity to produce smaller units, rather than an actual physical shortage.

    That suggestion drew some ire, but I was merely sharing what I’ve been seeing on the street in real terms.

    It never ceases to amaze me how surprised people get when stuff like this happens. On the one hand there’s a general acceptance that markets are rigged (by banksters and bankster controlled gov’t), but then there the counter analysis using charts, supply and demand theory etc that argues this or that should happen in logical terms.

    Logica, common sense, and charts are useless now. If the market is rigged, it’s rigged. Period. I think it’s so finely tuned by TPTB that they can dial it up or down at will – to the penny – on any given day, and at any given moment. There ARE NO MARKETS ANY MORE. These people are pros, and they’re following this site and all the other ones. They know what support levels people are looking for, to buy back in at. They can massage the rise and fall to any level, and paint the tapoe on any chart they want, to create the illusion of “battle” of “real market forces”.

    IMO the only reason PMs are allowed to rise, and then fall again, is to create an ongoing illusion that you can actually play the money game and somehow win – or at least not get fleeced. Unless you’re an insider, you’re getting played like a fiddle.

    I asked on a post a few days ago what’s stopping the manipulators from increasing margin requirements to 100%, and possibly even banning long positions on silver altogether. I wanted to know how low the price of silver could possibly be driven.
    Perhaps we’re in the process of finding out.

    At the moment I do believe there is a tightening of physical supply going on. I think the price was allowed to run up to $50 to create a bit of a froth of excitement about silver. It brings in new suckers to get fleeced, but more importantly it gets the masses to start cashing in their old silverware for melt to bring some new supply to the market, therefore buying more time for the likes of COMEX. Plus, there will be profit takers at $50 selling for profit, and others selling out of fear before they lose more.

    Like I said this is rigged beyond imagination. I told my sone a few weeks ago that if silver managed to get to $50 (the old all time high) there would be a firefight (or at least the illusion of one). Silver would likely pull back (I had a $37 range in mind which, frankly, was the price we broke through around March 23rd of this year).
    From there, maybe some sideways consolidation and eventually back up to $50 where another (illusion) of a firefight ensues.

    Maybe on the next rise TPTB allow the price to close above $50, and then it will look like we’re off to the races. I suspect that breaking $50 will allow cause a blast towards $75 – $80 almost as fast as the price got taken down this past week. For there we’ll see.

    As for the theory about the price of silver passing JPM’s share price causing JPM to go bankrupt, that’s also an illusion and moot point IMO. If we lived in a real world JPM would already be declared bankrupt. But their ass is pressed against the glass of the Fed’s discount window to get all the cash they need to keep the charade going. And the losses are getting offloaded to the taxpayer.

  34. silverbuyer | May 4, 2011 at 8:30 pm |

    It will go up.. We are not getting killed… We are ready to be armed with more physical silver… I will buy more and more…

    Long live silver and gold since I can find people using them as real money in the oldest book…. Bible…

    Long live SLA..

  35. Jungle Cock | May 4, 2011 at 8:30 pm |

    I’m not loosing faith.
    I believe we will win

  36. fatbaldimnecile | May 4, 2011 at 8:31 pm |

    Ideally, TWO 14.9 cu.ft tanks each for 30 party balloons are needed. The GLADD kits are made for use with two tanks. (Actually, simply 4-5 good gulps of pure helium are lethal — the 2nd tank is in case one happens to be empty.)
    The tanks can be purchased from a toy store or a party store. Ask not for ‘helium’ but for a ‘party balloon kit’ (each of which contains one tank of helium.)
    The same tanks are also advertised for sale on the internet by Target and at Party America. Put ‘party balloon kits’ into Google Search Box. (But much cheaper in toy stores, where you can use cash.) Nitrogen works just as lethally as helium if that is available.

  38. don middleton | May 4, 2011 at 8:34 pm |

    On a lighter note, i watch family feud while doing dishes. A while back, the question: (men only) you come home and your wife isn’t talking to you?
    Top four responses:
    1. she’s mad at you
    2. she’s not home
    3. she’s asleep
    4. she’s dead

    Americans are funny :)

  39. MirrorMirror | May 4, 2011 at 8:40 pm |

    The Alex Show 5/04/11: is Obama Experiencing Bush’s Pat Tillman Style Blowback? 1/3

    http://www.youtube.com/watch?v=xycK3AFBVsg

    @don middleton

    5. she’s on the phone ( as usual )

    ;-)

  40. Indeed | May 4, 2011 at 8:41 pm |

    @LuzazuL,
    It will take alot more than 1% of us who can afford silver.

  41. MirrorMirror | May 4, 2011 at 8:45 pm |

    Cramer …. always a good contrarian indicator :

    Gold, Silver Prices Extend Losses

    Neglia likes silver above $42 and still believes with metal will hit $50, but that below $40 he would get bearish. He said, “$38 is your next level because that is where this whole move started from.” Such a steep slide towards that level might ignite some tentative bargain hunting.

    http://www.thestreet.com/story/11104851/1/gold-silver-prices-search-for-support.html

    38$ … told y’all
    ( just being a PITA )
    ;-)

  42. John Galt | May 4, 2011 at 8:46 pm |

    Here is a Youtube video of Paul Kanjorski on CSPAN in January, 2009 talking publicly (oops) what was happening in mid-September 2008 and markets were crashing.

    http://www.youtube.com/watch?v=pD8viQ_DhS4

    I almost fell out of my chair hearing what he said, because I remember that day vividly – I was driving home and heard on the radio that money market accounts were having some restrictions placed on their redemption. It was a minor news story, but it freaked me out – because based on my understanding money market accounts are supposed to be 100% liquid. In that moment (Sept 2008) I realize something was seriously wrong.

    It turns out (according to Kanjorski in this interview) that an electronic run on the banks was happening to the tune of $550 billion in one hour alone. Think about that for a moment….that’s over 1/2 trillion in less than an hour.

    What this tells me is there are far bigger players behind the curtain than JPM and GS.
    We’re all getting played.

  43. MirrorMirror | May 4, 2011 at 8:47 pm |

    Bob Chapman – Disc Gold Silver Trading – 05-02-2011

    http://www.youtube.com/watch?v=EjxDA34byNA

  44. John Galt | May 4, 2011 at 8:49 pm |

    One more thing regarding the Kanjorski video….if you listen to his last 2 sentences it is clear that the elected officials on gov’t have ABSOLUTELY NO CLUE what’s going on….with the possible exception of a few such as Ron Paul, who would never be allowed any real power anyway.

  46. Steve_D | May 4, 2011 at 8:54 pm |

    Would it be very selfish of me to hope that they keep kickin the arse out of Silver until 15th of May when I’m due to get my pay cheque?

    I’ve got my eye on 100 1oz Silver Panda’s, they look so pretty!

  47. Shed Boy | May 4, 2011 at 8:56 pm |

    Keep the faith! This is all just a last ditch effort on TPTB’s side. It all means nothing to the SLA members except…Silver is on sale! Buy…buy…buy!

  48. MirrorMirror | May 4, 2011 at 8:58 pm |

    Big Asteroid’s Approach in November Excites Astronomers

    An asteroid the size of an aircraft carrier will come closer to Earth this autumn than our own moon does, causing scientists to hold their breath as it zooms by. But they’ll be nervous with excitement, not with worry about a possible disaster.

    http://www.space.com/11556-earth-asteroid-flyby-2005yu55.html

  49. don middleton | May 4, 2011 at 8:59 pm |

    Yesterday Onex sold Husky Injection Molding. The funny thing is; the ceo is John Galt. Now we know who he is :)
    As for commods……faith is a bieatch……try not to put excess eggs into the same carton and never play with rent eggs……..schoolmarm don has spoken :)
    @mirror^2……..not mine!……..she’s a female version of me……we’re both ornery and distrustful…….and yet, ever so polite and friendly those we meet daytoday.

  50. Fibon11235 | May 4, 2011 at 9:04 pm |

    All we need is for poor lol BEN to speak,
    That way the market will react to FLASH back upward instantly

  51. strats4ever | May 4, 2011 at 9:05 pm |

    Paper bankster silver is under $40 but if you check ebay, you’ll see Canadian maples are $50 as are American eagles. 100 oz. bar is over $4600, the bank (Scotia Mocatta will sell it to you for about $4100 (if they had it).
    Paper vs real silver arbitrage time..

  52. Robert Mockan | May 4, 2011 at 9:06 pm |

    @ fatbaldimnecile

    You will not find any takers for exit bag suicides among the SLA, or any other visitors to this forum. And if planning to kick the bucket, they would take as many of the banksters with them because they know what is at stake.

    By the way, the inert gas itself is not lethal. But by depriving the cells of the body of oxygen by breathing the inert gas, the brains and heart cease to function within a few minutes. When the heart stops death becomes irreversible.

  53. candiansilverado | May 4, 2011 at 9:10 pm |

    hey everybody my first post on max’s blog take a look at this:

    http://www.youtube.com/watch?v=ygiBmqkGJX0

  55. don middleton | May 4, 2011 at 9:25 pm |

    Philosophy corner……Hope is a worm on the fisherman’s hook. Zen it baby.
    Go back and read press releases et al….political, economic, business.
    See how many times >hope< appears. Just one of many words the smithy uses.
    Like okilla's boogyman is dead speech…….opening statement says it all.
    Sorry bro, you are responsible for just the facts, maam……..facts……….hmmmm.

  56. jodi boam | May 4, 2011 at 9:31 pm |

    My goodness silver is getting killed:(

  57. Silver Sniper | May 4, 2011 at 9:32 pm |

    i wonder if osama screamed out Dont Taze me BRO!

  58. NoEffingWay | May 4, 2011 at 9:37 pm |

    @OnlySane1
    HE HAS JUST SIGNED A CONTRACT WITH THE CHINESE GOVT TO SUPPLY 250,000 1 kilo medallions in .999 silver PER WEEK WITH NO END TERM STIPULATED!!!
    32.1507 troy ounces per kilogram
    250,000 x 32.1507 ounces = 8,037,675 ounces per week
    417,959,100 ounces per annum.

    I gotta call bullshit on that. Not that the chinese couldn’t buy it, it just can’t be supplied.

  59. Mike | May 4, 2011 at 9:40 pm |

    Ok so silver is getting killed eh? Where can I buy some near spot?…………….Nowhere that’s where.I want to buy the dip but I can’t find the dip!

  60. don middleton | May 4, 2011 at 9:44 pm |

    weeze all tazed in so many waze
    frendz and famleze drool with amaze
    what youze need and howz you paze
    waz the past the better daze?
    zzzzzzzzzz………get buzzie bee, there’s honey to be made!

  61. MirrorMirror | May 4, 2011 at 9:53 pm |

    FYI : USD Index (USDX)

    Euro = 57.6%
    Canadian Dollar = 9.1%
    Japanese Yen = 13.6%
    Sweden Krona = 4.2%
    British Pound = 11.9%
    Swiss Franc = 3.6%

    http://us-derivatives.com/downloads/pdfs/listedfuts/ICE_Dollar_Index_FAQ.pdf

  62. Bill | May 4, 2011 at 10:06 pm |

    i wonder if osama screamed out Dont Taze me BRO!

    You mean when he died of renal failure 8 years ago?

  63. Bill | May 4, 2011 at 10:11 pm |

    Mirror I told all my buddies I thought silver would hit 50 before the next dip. I guess I should have told them I was right because it got close. If I say it’s going to hit 50 and it doesn’t, it doesn’t. Horseshoes and hand grenades only.

  64. Palantír | May 4, 2011 at 10:19 pm |

    I hope this Silver correction will last for some time and stabilise or even go down some more. It is a a bit uneasing when something climbs too steep and too fast, it just doesn’t feel “right” or “real”, I would rather look for a longer slower rise upwards which seems to me to be more solid and sound.

    this moment, silver is at $39,40.

  65. John Galt | May 4, 2011 at 10:48 pm |

    @ Don Middleton

    In case there’s any confusion I am most definitely NOT the CEO of Husky.

    But when you think about it, anyone else who’s also buying physical PMs like me is also “going Galt” by withdrawing from participation this rigged f*cking system.

  66. John Galt | May 4, 2011 at 10:58 pm |

    @DaveLiverpool

    Thanks for posting that. It helps confirm my contention that JPM et al have allowed the brief spike higher to flush more physical into the market by means of scrap as melt. This, plus the profit takers and those now getting flushed out by down spike, should buy some time for COMEX.

    Soon the sellers will be cleaned out and JPM & posse will turn the dial back to make some coin going the other way – before the next head fake.

    Around here there’s a talking head on TV named Russell Oliver who’s advertising constantly to buy your old gold and diamond jewelry for cash. In recent months he’s also been shilling for silver.

    On a lark I wanted to see what kind of “top dollar” you were really getting from these scam artists. I took a tube of silver Maple Leafs in one day to see what I’d get. Based on the spot price that day (and I’m not factoring in any coin premium etc) the offer to buy worked out to under 30 cents on the dollar. I laughed my ass of and asked why so little, and was told the cost of melting and processing etc.

    That made me laugh even harder to imagine that I was going to believe they’d melt coins to make new coins. If coins are less than 30 cents on the dollar, I can only imagine that scrap jewelry is getting way less.

  67. Drunk | May 4, 2011 at 11:37 pm |

    Dear Blythe, please keep the bleeding going until a week on Friday, a which point I will literally be capable of building a house with all the silver I’ll be buying.

    Thanks, D. X

  68. Joe9083 | May 4, 2011 at 11:41 pm |

    Calling all jimmy fans lets hear it , all together now .JIMMY COME BACK.Although for a guy with 5 wives and a noodle bar to run he just might not have the time,then again, the art of keeping 5 wives content must mean our Jimmy is a smooth operator and knows how to delegate,thus allowing him plenty of time, to post?.There are others who are missing,not least, F Beard.Stacy I think you know what I’m saying.If it ain’t don’t fix it.P.S. Still hats off to the both of you,you do fantastic work.

  69. Pete | May 4, 2011 at 11:55 pm |

    I say let’s flood the SEC’s complaint section with E-Mails and ask them about what’s happening with the price of Silver.

    http://www.sec.gov/complaint/select.shtml

  70. Steven Rowlandson | May 5, 2011 at 12:07 am |

    Last year A.V.Roe Systems set up a kiosk in my area to buy metal from the public.
    They even tried to hire people to man the kiosk. I sent them a message that they don’t have enough money to buy my silver. They replied with a question of how many ounces do I have? Not long after their kiosk at the mall disappeared.
    They really do expect people to accept what is offered like its not ok for silver and gold owners to make a profit. I wasn’t trying to sell, I was sending a message and that is that equal to or less than market prices is not good enough.
    My gut tells me that where I live the lions share of the metal held by the public has already been dumped and what ever does exist is in strong hands.

    Steven

  71. Robert Mockan | May 5, 2011 at 12:14 am |

    Other mischief is going on behind the scenes to keep silver down.

    In ordinary times the foreign exchange rate has buy/sell rates that include the silver price. But the last few days I’ve been seeing some strange numbers.

    For example silver spot price in real time might be 39.15. I use a separate chart service from the foreign currency exchange chart service for chart analysis, and cross referencing shows the spot price on their charts IS the real time spot price.

    But on the foreign exchange the BUY rate is 39.50. The SELL rate is 39.39.
    (BOTH above the spot price).

    I commented to the foreign currency exchange host (that carries the trading platform that online traders use) and am informed they post the rates as updated by the intra-bank agencies.

    But even the charts the host provide show a discrepancy. For the silver spot rate of 39.15 the host charts show 39.50(!).

    Now when you try to buy what rate to you get? At the instant of your request the BUY rate changes to 39.65, but the spot price does not change(!).

    This might be confusing, and it is. It is also illegal in the extreme.

    It means if you try to buy silver contracts you do so at a greatly inflated value, much above the spot price. If you turned around and immediately closed your position, you would close NOT at the SELL rate of 39.39, but for that instant the SELL rate would be “updated ” by the intra-bank agency to SPOT PRICE, of 39.15 (!).

    Since one contract on the foreign currency exchange represents 500 ounces of silver, and the leverage is 100, you are effectively paying the difference between spot and BUY to open the position, or in this instance (500)(39.50-39.15)= $125, and the margin needed in your account to cover this open position would be $197.50.
    If you closed that position it would be at SPOT, not the posted SELL rate, and your
    and that shows as a loss in your account. In fact if you opened the position paying the rate of 39.50, and closed the position paying the 39.15, your account value would decrease by .35 x 500= $175. And this is with NO real change in the silver SPOT price.
    Typically (like a week ago) the transaction I described would cost $30, because the spread was .06, not the positive padded rates to BUY, and the negative padded rates to SELL.
    This criminality is important because traders need to make a few trades to have a trade in their favor, and then they let the open position run relying on volatility to make a profit above the costs of opening and closing positions.

    Yesterday for example, I opened and closed a few trades, costing about $450.
    The cost a week ago for the same trasactions would have been about $125. Under ordinary circumstances the difference would remain in my account.

    This effectively makes it almost impossible to make a profit in the foreign currency exchange in silver because the criminality of padding the BUY and SELL rates in the way described prevents it.

    This is separate from increasing margins by the COMMIE in the futures market, or increasing legal BUY and SELL spreads in the foreign currency market.

    Just more evidence the markets are rigged, and the banks are fully involved in illegal activities.

  72. Palantír | May 5, 2011 at 12:24 am |

    @Pete – Why? The fall in Silver price occurs because of big players like George Soros hedge fund and investors like John Burbank and other funds selling silver and gold.

    They bought Precious Metal in the last few years out of the fear of deflation, price fall, but now they think that the danger of deflation is reduced and so the need to sit on great piles of precious metal is there no more.

  73. Robert Mockan | May 5, 2011 at 12:35 am |

    Spot price silver just touched 39.07. Volume is low, but the down trend is still in place. Money flow is out, not in.

    Looks like silver at 38 something before morning is a given. And the next strong support is at 36.

  74. farto | May 5, 2011 at 12:53 am |

    WTF gold is down to $1510 and the USA dollar is at 73…. the dollar has not gone up, yet gold and silver are down. LOL such blatant manipulation….. who is stupid enough to sell their gold and silver or their gold/ silver stocks, nobody,,,, these market manipulators buy gold and silver and gold/silver stocks and then sell at lower prices to drive the prices down….. They spend billions doing this…. don’t worry they are almost out of $, next week buy with both hands- load up.

  75. Steve/NotLiverpool | May 5, 2011 at 12:55 am |

    CME hiking margin again tommorows.

    And again on Monday.

    I wonder where the botttom will be….

    http://www.zerohedge.com/article/cme-hikes-silver-margins-17-4th-hike-8-trading-days

  76. Dark Markets | May 5, 2011 at 1:09 am |

    woo-hoo, BTFD !!!!
    I look at it this way: I purchased a few (dozen) ounces at close to the $47-$48 highs (+ premium) , so in a way I __PAID__ a few hundred dollars, TO GET THIS OPPORTUNITY to back up the truck and load ‘er up at this discounted price today! And _if_ it goes below $35, I __will__ take out that 2nd mortgage!

  77. Robert Mockan | May 5, 2011 at 1:40 am |

    From COMMIE statements the margins are being hiked to insure adequate collateral exits in the account. That effectively makes the futures markets margin accounts, cash accounts, with no leverage. No leverage is the same as buying physical.

    But COMMIE is lying.

    I trade the foreign currency exchange. That is not the futures market. I am not buying with a lenders money to open positions. The currency exchange are all double sided transactions.
    When I BUY silver, I SELL dollars, at the same time to open a position. The money in my account is used to pay “fees” for the right to trade in the currency exchange.

    But the currency exchange transactions are also being manipulated to prevent profitable trading.

  78. Robert Mockan | May 5, 2011 at 1:46 am |

    Left out important point. In the currency exchange the fiat pairs are functioning normally. Only the monetary metal pairs are being manipulated.

    This is all about preventing people from having a substitute for paper dollars. The Oligarchs use the monetary system to sustain their power. Take away their source of funding, and acceptance of the dollar by their followers, and enforcers, and they know their days would be numbered. Who would protect them if the paper they used to pay for protection was worthless?

  79. mobius | May 5, 2011 at 3:23 am |

    mmmm….cheap silver. come to poppa.

  81. jischinger | May 5, 2011 at 4:04 am |

    now that the banks have destroyed all your stocks and savings, well on their way to gather all the pensions, they are now after grandma’s silver and heirlooms – the last thing they will take will be the family jewels.

    time to seriously think about secession.

  82. ZORRO LONDON | May 5, 2011 at 6:17 am |

    Max, another idea. There are a few good mainstream investigative journalists out there JOHN PILGER is one. Try and reach the sheeple from making him and others aware of the rigging!!………………Z

  83. Specky4eyes | May 5, 2011 at 9:19 am |

    As a spectator to this very interesting game it seems to me that the logic here is as follows:
    1. The banksters want you to sell your silver.
    2. If you trust the banksters then sell your silver.
    3. If you don’t trust them then keep it and buy the dip.