Member Info for BuggerTheBanks

This time last year, silver dropped $4 in a week.

I think it's entirely possible that we see silver sub-$20 before we hit the bottom. This is not the dip I'm looking to buy. Still waiting.

Why isn't this £3 p/share???

Rates will rise.

Looks like we're playing catch-up from Friday's close on the TSX (up nearly 16% on Friday).

You cannot repay debt denominated in a debt-based currency. Arguing about whether it's affordable at $20T but unaffordable at $30T is predicated on the assumption that it can be paid back at all: it cannot. The size of it is irrelevant, really. Debt-based currencies are the very definition of a Ponzi scheme, & are so BY DESIGN.

...especially when DB have just set a target price which is a £ North of here.

Let us not conflate the BoE with "government". The BoE buys bonds at ZERO cost to itself: effectively drawing a check on an account with a ZERO balance, using "money" created ex nihilo.

All of this talk of "Central Banks can't raise rates without crashing the system" is predicated on a single assumption....that they WANT to save the system. I don't believe they do. They have a new system ready to go, so they can "build back better". The chess board is about to be wiped...

Inflation is still the obvious card, but I really don't think we should rule out rising rates. Throughout ALL of financial history, this has been the play of the banks...

Lower rates & encourage borrowing (of money created out of thin air)
Load up the debt serfs until their eyes are bulging
Hike rates & seize collateral / hard assets (that cannot be printed) in exchange for paper promises-to-pay

"By 2030, you will own nothing...& you will be happy"

Cui bono?

Cannot help but wonder if the Sunday night flash crash was done to help Palantir hoover-up some cut-price metal. Are they big enough to wield sufficient clout to get that "arranged"? I'm sure they weren't the only beneficiaries.

I seem to recall the metals (particularly silver) took a real beating just before the GFC: this feels similar to me. I'm continuing to liquidate my positions & am building a war chest (although I will continue to hold the bulk of my miners).

Let's not overlook the fact that the wider market is also taking a beating. I'm not suggesting it's great, but I am suggesting it looks worse than it is.

Spindler,

De Gaulle knew how it works & saw what was coming:-

https://www.youtube.com/watch?v=eYgnGAr3-kM

When faced with having paper that could be printed into oblivion, or hard currency, he took the latter.

I'm sure today, the French wish they had a leader who served the people as he did.

The flash crash in gold was a pure paper trade...& it was new paper. Just like walking into a bookies & throwing £10 over the counter & the bookie writes you a NEW betting slip. NEW paper gold contracts dumped onto the market with the sole aim of driving the price lower. No-one interested in achieving the best value for their investments (which is surely the aim: right?) is going to dump a huge position at that time of night (i.e. a TOTALLY illiquid market). You're going to wait for the main market to open on Monday & then drip-feed your sales in throughout the week in order to achieve the best price possible whilst liquidating your position.

It was an assault on PM prices: simple as that. Looking at the gold price now, the benefits (to THEM) appear to be short lived. Well done to those who bought the dip. I believe we'll get several more chances to do so before we make new highs (which we surely will).

The lockdowns won't just be in China.
Coming soon to a country near you.

24,000 PAPER gold contracts (i.e. 2.4M oz) were dumped on the CRIMEX last night. This was a planned attack on the PM price, possibly with a view to unloading (worthless) paper whilst picking up the real thing on the cheap.

https://www.zerohedge.com/markets/gold-flash-crashes-almost-100-4-billion-sell-order-hits

24,000 contracts (not oz) dumped on the CRIMEX. Somebody obviously doesn't care how much they receive for them.

More CRIMEX shenanigans.

Silver lost $2.20. WTaF???

WTaF???? What's the justification for this???

https://www.rt.com/business/530824-russia-pegging-tax-mining-global/

I've been selling my holdings piece by piece over the last three weeks & am moving to cash. More lockdowns are coming by late September / early October. This dip (right now) is not the dip you want to buy.....but it is coming.

MAG just posted drill results from Juanicipio...

https://ceo.ca/@nasdaq/mag-silver-reports-2020-juanicipio-drill-results