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Better sell your silver while you can. Silver crash coming July 15th.

 
Anonymous Coward
User ID: 457940
United States
06/24/2011 11:33 AM
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Better sell your silver while you can. Silver crash coming July 15th.
July 15th new rules go into effect on the trading of silver by the COMEX. No purchases that cannot be deliverable in 28 days will be allowed under the new laws.


Silver prices have been driven up due to the artificial market manipulation on silver bonds. Large silver traders, think JPM, trade mega volumes of paper bonds between their partners to manipulate the price for however they see fit to accquire the most gain. Physical delivery was never desired. Now that game is over. This same game also extends to gold trading as well.

July 15th we will see precious metal markets crash with the elemination of paper trading. Todays prices have only been held up due to the artificial demand that paper trades without delivery has created. When paper trades stop only deliverable trades will be allowed. This will have the effect of a landslide in demand. Without a demand to support a price point that price will decrease until it is leveraged with demand.

In the case of silver, prices will fall to the teens with certainty. Single digit prices are even a very real possibility.
Anonymous Coward
User ID: 1121444
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06/24/2011 11:34 AM
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Re: Better sell your silver while you can. Silver crash coming July 15th.
sorry i'll be keeping mine..
Anonymous Coward
User ID: 1359307
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06/24/2011 11:35 AM
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Re: Better sell your silver while you can. Silver crash coming July 15th.
Sounds like a great buying opportunity. Thanks.
Anonymous Coward
User ID: 1121444
United States
06/24/2011 11:41 AM
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Re: Better sell your silver while you can. Silver crash coming July 15th.
i bought all mine at $17 an ounce.. yawn..
Anonymous Coward
User ID: 1441528
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06/24/2011 11:43 AM
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Re: Better sell your silver while you can. Silver crash coming July 15th.
Paper trading won't stop. The regs simply limit who can do it. More specifically, to folks who have $1 mill + net worths (excluding primary residence). I think that JPM qualifies as having a net worth of $1 mill +. As do most of the other paper traders. It will still continue.

Now, that's not to say that I don't think that the price of PMs will slide in the coming months. They will. But they won't crash. Silver's "summer doldrum" band will be between $30--$36, and gold's "summer doldrum" band will be between $1450--$1550. Then September will come and the PMs will go up again because they always do given the buying of PMs (especially gold) that goes up in the fall months in Asia. Then, when the US Fiat system does crash in a couple of years, PMs will rise (if civilization survives in manner in which a currency is needed), and PMs will tank (if civilization collapses to a "Mad Max" level of existence).

Don't freak out about these new regs. Paper trading will largely be the same.
Smith_and_Jones

User ID: 1441508
United States
06/24/2011 12:40 PM
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Re: Better sell your silver while you can. Silver crash coming July 15th.
July 15th new rules go into effect on the trading of silver by the COMEX. No purchases that cannot be deliverable in 28 days will be allowed under the new laws.
 Quoting: Anonymous Coward 457940


And the tops keep on spinning. This law has nothing to do with silver except that the crooks can no longer keep a person's money for months and months without delivering the goods.

I forget, during the Weimar Depression in Germany, were people burning wheelbarrows of silver to stay warm or were they burning paper "money"?

Paper "Money" is trash and the Germans proved it.
Anonymous Coward
User ID: 2034073
Australia
09/26/2011 04:16 AM
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Re: Better sell your silver while you can. Silver crash coming July 15th.
sorry i'll be keeping mine..
 Quoting: Anonymous Coward 1121444


oops





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