Member Info for BuggerTheBanks

Fed will hike whilst also doing QE.
One foot on the accelerator, the other on the brake. What could possibly go wrong???

Amirkat, I don't know whereabouts you live, but you might want to talk to the residents of Oxford and Canterbury about the forthcoming 15 minute cities. More will follow. Central banks have been working on their CBDCs for nigh-on two decades: you really think they're going to say, "you know what??? Let's not bother after all". CBDCs are a bankster's wet dream, and the end of human freedom. Just ask the people in China. They'll tell you they're great...because if they say anything else, their account balance goes to zero.

And as I say to all doubters: "The people who are doing this are TELLING YOU that they're doing this". In a court of law, that's called a confession.

Now...be nice to Dark Knight...he may share his Tobasco sauce with you.

"Yoo vil eet ze bugs...& yoo vil be happy".

It truly is different this time. 2008 was a banking crisis, & it wasn't solved. All that was done was the banking crisis was moved: it was picked up and dropped on the balance sheet of governments and central banks. It's taken a while to get here, but rising interest rates have finally brought us to a sovereign debt crisis.

For now, this is still only manifesting in the banking sector, but there's not a country on the planet, with the possible (ironic) exception of Russia, that can repay its debt. A few more rate hikes and some countries won't even be able to pay the interest on their debt (UK is currently borrowing to pay the interest on its debt).

Covid taught us that governments will use a crisis to take totalitarian control (Operation Lockstep): this crisis will be no different. CBDCs inbound in 3...2...1...

Quote me.

"Credit Suisse didn't kill itself".
Oh, wait...

Yep: I believe Charles Schwab was halted earlier in the week. Shame we can't halt Klaus Schwab so easily :)

Credit Suisse halted now, too.

New all time high for gold in £s.

This explains it:-

https://www.zerohedge.com/markets/credit-suisse-sparks-global-de-risking-after-top-investor-bails

What's going on? Can't find the cause.

...feels like the Nickerbocker Panic of 1907.
Looks like the CBDCs are ready. This would be a great opportunity to introduce them.
But I'm sure that's just a coincidence /s

I say again: the Fed won't pivot. Come 2024, inflation won't be the only thing that's double-digits.

$50 knocked off gold and over a Dollar knocked off silver on absolutely no relevant economic news whatso*******ever. The usual suspects are still in control of this "market" and will keep squeezing until everyone's wallet is empty.

Thank you for playing.

Saab93, I don't want to sound like I'm splitting hairs, but the cheapest price for 10 years and the best entry point for 10 years are not necessarily the same thing...though I take your point.

This could fall further, so I'd keep some powder dry if I were you, to BTFD, but I'm backing my instincts here.

NB: long term holder since 2006.

More of the usual Sunday night / Monday morning ****ery in the silver market. Go to BullionVault and bring up the 1-day graph, then take a look at what happened at 1am to see what's going on. This is a REGULAR event. The bullion banks hammer the metals in thin trading overnight.

At 76p to increase my holding by 25%. Will add again if it falls further.

GLA

A quick look at the 1-year chart shows significant destruction of shareholder value. Yes, the bounce over the last month is nice, but I hope the BoD get roasted at the AGM.

Silver breaks $24 for the SIXTH time in the last month and, for the SIXTH time in the last month, is immediately monkeyhammered lower. THEY are defending it like The Alamo. It's so blatant it's genuinely fun to watch.

Lots of manipulation overnight, too, when there's hardly any trading. Go to bed with silver at $x...wake up and it's 2% lower on absolutely ZERO economic news whatso*******ever. Go to BullionVault.com and bring up the 1-day chart to keep an eye on it.

Personally, with silver being such an industrial metal, I think the forthcoming recession will smash the **** out of it. I'm selling with a view to 6uild 6ack 6etter...sorry: force of habit..."Buying Back Better" (cheaper).
GLA.

CRIMEX March silver contracts are over 556M oz, ~ 4 weeks to declaration with only 33.2M oz registered for sale. Expect more contract tree shaking & monkey hammers in the silver "market" or the bullion banks (who for some reason, love to short their own product) will go jugs-up.
Also keep an eye on Peru (a big silver exporter). Any escalation in anti-government protests could affect supply.
By this time next month, silver is either going to be SIGNIFICANTLY higher, or SIGNIFICANTLY lower. History tells us that the monkey hammer will prevail...but I'd love to be wrong.