After consolidating throughout the overnight Asian and London session, the latest COMEX open raid has finally achieved the cartel’s target in silver, with $30 broken to the downside as silver was smashed to $29.84.
Gold has also been hit on the COMEX open, down another $40 to $1596!
The legendary Jim Sinclair states that this is the last significant correction prior to gold’s move to $3,500.
*Update: 2nd wave of smash now in progress, with silver down to $29.67
Click here for more on the cartel’s latest EPIC PAPER METALS RAID!!
Hurry! Buy up all the silver and gold you can to protect yourself from the machinations of money manipulation by the powers that be!
Oh, wait.
So, we savers… er, I mean “money hoarders”, are all basically screwed, right?
Maybe I really should just go sink all my stinkin’ fiat into NFLX.
A store of value. Which since I started stacking has done nothing but go down. I know it will go up at some point, and I’ll buy more, but silver has done nothing for me but shit the bed.
Next stop, 500.
So this might prove to be the last significant statement from the legendary Jim Sinclair?
Now that everyone is hating gold and silver, I’m looking to go long USLV when the technicals look good over the next year. The “silver is going to 500$” was always irresponsible, it has to break 35$ first. I’m not selling my physical gold or silver because I see them as decades long investments. If you’re younger than 50, I’d hold onto your physical precious metals. The people that put ALL of their investment in precious metals were inexperienced investors. Gold and silver should be no more than 20% of your investment. Another problem is that gold and silver bugs are way too emotionally bound to precious metals. I think financials and oil refineries will be the right sector for a couple more weeks.
At what point does a Legend become a f###in’ myth?
Look, we KNOW the fiat crash is coming. Crazy Uncle Ben’s gotta RAMP UP the Fed QE balance sheet another 50% to match the monthly deficit. Inflation is coming and the price of gold and silver and everything else will go up. For sure.
The Problem we have here is with the lounge lizards in the casino. Jimmy’s sweating silver bullets for a reason. Did he bet on black only to find the paperboys over at JPM rigging for red?
MASSIVE QE going on everywhere. Just a reminder. Japan for example.
Just BTFD.
I did.
Well look at that, prises are on sale and it’s payday to boot! Nice.
None of you are going to have success investing in gold and silver while being obedient to the ways and policies of the market. The market is run by insiders who don’t want to make you rich they want to make themselves rich at your expense by dictating terms and prices to you. Destroying your wealth and tricking you into accepting their buy from you prices is the name of their game and that is the way it is. Don’t give them the satisfaction by co operating with them. Remember the golden rule. Those that have the gold or silver make the rules. If they want the goods then you tell them what you want for it and if they don’t like that then keep what you have until they meet and fulfill your terms. You have to play hardball with them or you will be financially abused.
Wait and see if it can get below 28 -I don’t see that happening since it is a Friday. So you have all weekend to buy the first dip of 2013. Silver supply has been tight. Hopefully it will continually drop all day and stackers will have all weekend to buy.
Can drop all it wants – with intrest rates at .5% and inflation to hit 3%, no point in my money bieng in a bank. Low supplies (US mint stalling eagles, RCM too) and emerging applications (solar, VDU, Nano…), loger term futures bright. I’v given much to friends to save for their kids but none of them have bought any themselves for them – but wasted plenty on lottery tickets, seeking ‘instant win’, but loosing it all.
Avg. Oz round still gets over £30 on ebay, kukuburas around £40. I stop at 70p/g… £21/oz, a little higher if its 1 I havn’t got yet. And outbidding at the last second is the lowest form of purcase, like soros low or caMoron low.
I iz genius.
I knew it was coming.
Though I’ll start to get interested at 27; no higher.
Eat my shortz, Mr Sinclairz.
Rookie analysis is takin’ over.
Guy on da street says silver in the 30s is low-value, yo.
Heeeee-heeee.
In The News Today « Jim Sinclair’s Mineset
Credit where it’s due; Sinclairz Crew has choice photos. Look at that ferocious little fluffball. Then look at that greenery and park bench. Choice bro. Choice.
Hey, look at it from the bright side.
Another 50 days like these and silver can only go up, for gold you’ll have to wait another 16 days…
if i keep calling it up eventually i’ll be right yeah.. sinclair is looking like a twat
Ahhh, the silverogosphere, getting all caught up in the slightest of developments. Screwtapefiles blog people, don’t believe everything the silveroids tell y0u.
At least the gold bug’s propaganda is better than Droner’s propaganda.
@yawp
Good comment. I would like to know the real story around Dorner. I feel false flagish.
Easy to see the why here. The slam is 8.00am EST but Asia is 10 hours ahead which means that they are closing for a week for the Chinese new year. How credible is it that a purported trader or traders would wait until the biggest purchaser of PM on the planet went off-line to try and secure “the best price”?
If that’s not credible then it’s orchestrated manipulation with paper PM promises. Call it “perception management” call it “sentiment management.”
If you hold physical the value is in the metal. Paper circus tricks can fool some of the people some of the time but that’s about it. Fundamentally market prices are driven by liquidity and sentiment. Liquidity is been printed as we speak so the only thing the the illusionists can do is to attack sentiment. None of this affect underlying value.
“If you hold physical the value is in the metal.” Exactly Danny. The market price at this point is not an exchange rate between fiat and ounces based on the supplies of both.
Therefore the current price is insanely cheap and is largely a plaything for insiders that trade commodities. Does an extremely high gold and silver price destroy fiat and make big macs cost more? No! Absolutely not. Current metal fiat prices have nothing to do with the existance, value or price of anything else. It is based on the opinion and disgression of banks and commodity traders and the needs of gold and silver users balanced against the goals of elite metal debtors. The goals of owners and producers are not part of the price setting equation at this time. As stackers we are merely taking advantage of someone elses politically approved criminal market manipulation for the purposes of profit , insurance and or a stake in the financial world that may exist after this one crashes and burns. Rest assured the current system is not proper , probably not licit and must end.