Silver lining??

Hello ATS members.
I have been following silver prices since November 2010 since it was about $26.00 I watched it grow over the months to just under $50 Canadian this got me all excited and then recently silver started to nose dive and in about 7 days plummeted to $36.66 go figure eh! This got my tinfoil hat on so I did some research to find out what's been taking place. So it turns out George Soros and John Burbank are dumping silver and gold on to the market. Suspicious because silver attained the magic number of $50.00 those unfamiliar $50 is the high required to bankrupt the JP Morgan group. Here is an article explaining what George Soros and John Burbank are up to.

www.marketwatch.com...

What is unusual is the reason why they are dumping it on to the market. Because there is less chance of deflation.What!!
I think personally they are trying to stimulate people to sell thinking there might be a silver crash. Or possibly the buy silver campaign was a trap??? My personal opinion is that you should hang on to you're silver and ride this out and buy more silver.That is just my opinion.
So why do you think Soros and the gang are dumping silver and gold on to the market?

Here is a video on You Tube explaining the buy silver campaign if you are unfamiliar.


This is my first post I wanted to do something spectacular but this came up and I thought it was real important to post this immediately.Please comment and add you're own info to this. Oh and P.S I have not found out yet if it was physical silver and gold or paper silver and gold.I would really like to know. Thank you all.
Oh and mods please place this in the correct category I'm not sure how to do that thanx.

No matter what happens, how can longterm precious metals (physical) be a bad investment? There is no reason to think the dollar will rise anytime soon. dollar down=silver up. Now is the best time to buy.

reply to post by louieprima


Agreed buy it while you still can.

Well though silver is on the down swing, it certainly doesn't mean it will stay that way. This honestly, I see as an opportunity to buy.

Wanted to share this, I see it as an indication that this dip isn't going to last long.

www.marketwatch.com...
NEWPORT BEACH, Calif. (MarketWatch) — The evidence of a double-dipping housing market and economy are becoming undeniable, even to those who cling perilously to the notion that government intervention has been a salve instead of a poison.

Good time to snap up a few more OZ,s.
As much as I can afford really in this economy when it seems everything seems to cost a dollar more, like $4.00 dollars for a bag of sugar donuts for instance.
I did not buy the donuts.
I will buy a couple OZ, if it's under or around $40.00 tommorrow.

It's inflation, the dollar buys you less, precious metals cost more, but of course, like OP said, there are big time manipulators out there, those fat cats who get their fat greedy fingers on our piece of the pie.
Sometimes I wish they would choke on a gluttonous piece of that pie, and drop their large slice into the hands of us great unwashed miscreants.

Signed;
Hesitant Humble subservient toiler to the rich

Just a common sense thought, when you buy silver on the market, are you getting delivery of the silver and testing it? Or are you just getting a number in your broker account / certificate?

A lot of gold in vaults was discovered to contain not gold, but tungsten with a gold coat.

Fake gold bars


Silver is faked by using Moly (Good thing I bought into a Moly mine )

Fake silver

reply to post by moogins


I buy from a reputable dealer . Buying coins like Canadian silver maples or American silver eagles provides good protection because the fakes don't weigh one troy ounce and probably don't have the same thickness as well.

Originally posted by enament
reply to post by moogins

 

I buy from a reputable dealer . Buying coins like Canadian silver maples or American silver eagles provides good protection because the fakes don't weigh one troy ounce and probably don't have the same thickness as well.

So, let me get this right, when something bad happens you dump everything and run to the hills, jingling all the way, right?

reply to post by moogins


I just don't trust the volatility of fiat currency since it isn't backed by much gold. Silver backs it's self.
Silver is also inflation proof.And at the moment because of all the instability in the global economy it's starting to rise in value.
And when I said they provide good protection I meant against fakes.

Originally posted by moogins

Originally posted by enament
reply to post by moogins

 

I buy from a reputable dealer . Buying coins like Canadian silver maples or American silver eagles provides good protection because the fakes don't weigh one troy ounce and probably don't have the same thickness as well.

So, let me get this right, when something bad happens you dump everything and run to the hills, jingling all the way, right?

Dumping everything and running for the hills jingling all the way when something bad happens that's a great idea glad you thought of that,great idea!

Originally posted by enament
So it turns out George Soros and John Burbank are dumping silver and gold on to the market.

My personal opinion is that you should hang on to you're silver and ride this out and buy more silver.That is just my opinion.

So why do you think Soros and the gang are dumping silver and gold on to the market?

Oh and P.S I have not found out yet if it was physical silver and gold or paper silver and gold.I would really like to know.

If anything, probably some paper. Soros holds a large position in the Gold ETF - GLD, a lessor position in the iShares Gold Trust, some Gold mining shares, and a relatively small position in PAAS, a primary Silver miner. Maybe some other paper products that I'm not aware of.

But it's common knowledge that the Soros Fund sells Gold/Silver assets from time to time...so why the all the commotion here ?

Paulson or Soros? Who Sold GLD Shares?

November 15, 2010

On the other hand, George Soros’ fund liquidated 547,689 shares this past quarter, although the 4.69 million shares still controlled by Soros – valued at roughly $600 million – is the largest holding of Soros Fund Management. - Full Text

And if you scroll this gurufocus page, you'll learn that Soros had already liquidated his entire SLV position by the end of June 2010 at an average price of $17.97, and without "crashing" the market. In fact, Mr. market absorbed every share and SLV broke-out on the current upleg in August. I'd say he sold a little early wouldn't you ?

This latest rumor, which originated in a Wall St Journal article, is supposedly based on "leaked" information from someone "close" to the Soros Fund. Well, I think we all know which side of the market the WSJ represents, and it certainly isn't the precious metals community. Suspicion is justified imo.

I couldn't be more in alignment with you and a few others in this thread enament. Volatility should only present challenges and elicit concerns from short term oriented traders. If you're in the process of accumulating a long term position in precious metals, this correction is an absolute God-Send. Hopefully investors will recognize it for what it really is...opportunity.

I'm not reckless enough to call today "the bottom"...but I did go long on paper trade this afternoon and I'll continue scaling into weakness "if" we move lower. In other words, up or down, I'm a bona fide buyer at these price levels.

GL

Ben Davies - We Are Now Buyers of Physical Silver - May 5, 2011

Peter Grandich Now Moves 100% BACK Into Gold & Silver - May 5th, 2011

reply to post by OBE1


Thanks a lot of helpful info. I just started collecting silver and some gold and I am new to it I will admit. I read a lot about collecting silver and gold I seem to have a thing for coins though. What is you're opinion on Max Keiser.

reply to post by OBE1


Its an exciting thing to be into.I get excited when silver goes up because I'm making money but I'm not able to buy as much.I get excited when it goes down I can buy more for less but the silver I do have isn't worth much. People call me all the time when it goes down and say it must p you right off I reply no I can just afford to buy more at a lower price.

Yep pretty much agree except Silver is not crashing it was $12 not all that long ago then went to 23 played around there for a while. They are dumping silver on the market to drive prices down to cover the JPM naked shorts coming due this month. Except its paper silver or fake. it will play around at this level for a while and people will buy and it will shoot back up.

I'll trade paper and ink for silver all day long at any price! I bought silver at under $5 so I laugh anytime I hear is is crashing.

Here is why you can't go wrong buying silver unless you are trading to make immediate cash. Buy take possession and hold.

Originally posted by enament

Originally posted by moogins

Originally posted by enament
reply to post by moogins

 

I buy from a reputable dealer . Buying coins like Canadian silver maples or American silver eagles provides good protection because the fakes don't weigh one troy ounce and probably don't have the same thickness as well.

So, let me get this right, when something bad happens you dump everything and run to the hills, jingling all the way, right?

Dumping everything and running for the hills jingling all the way when something bad happens that's a great idea glad you thought of that,great idea!

Don't forget your silver!!

Jingle Jingle.

reply to post by enament


Nice Thread, I cannot watch the video at the moment but you get a S & F from me for your analysis.
I think you have nailed it and I am pissing myself laughing at all of this.
I think you are bang on with your assessment that the big players are shaking the market to see who they can get to sell their physical silver. It is just another control measure from these so called PM giants.

They cannot cover all of the paper trades and are losing big time,
With the economy as it is, I do not think they can keep this PM manipulation up for a prolonged period of time and would love to see JP Morgan take a hit, they really make me

People need to see this for what it is..... A great buying opportunity

Stay Long on PM's
Their FIAT is a joke

PEACE,
RK

What the rapid decline in silver tells me is that many of those long silver were using leverage to do it. When the CME raised margin requirements we had this correction. Had the leverage been on the short side, we'd have seen a massive spike from the short covering rally it would have induced. I still think Silver is a fair long term investment, but it's pretty apparent from this move that there was a great deal of "hot money" in the futures contract anyway. I'm less inclined to believe the "JPM massive naked short positions" theory than I was last week. A little more action like the past couple of days and we can say for certain that the run up in silver and gold was just another bubble. I do hope that those that were in Silver at

People seem to be rushing out to buy silver its been doing good all day so far so good.

Originally posted by enament
What is you're opinion on Max Keiser.

The quintessential econo-nerd...entertaining and irritating, all at the same time. Having said that, I give Max a quality rating of .999 pure for his 2007 exposé on Iceland's ill fated flirtation with the carry trade. One of the more prescient acts of economic journalism I've ever come across, and definitely the funniest.

People call me all the time when it goes down and say it must p you right off....

With friends like that...who needs enemies

Cheers enament !

Who thinks it is going down a little more before going past 50!?