"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Tuesday, May 3, 2011

Silver fails at $42.50

Posted by at

13 comments:

  1. MarkMay 3, 2011 at 11:33 AM

    Now that the paper-pushing speculative locusts have taken over the silver contract, and the bit-flipping Hi-Fi Robots have engulfed SLV, it would not be far fetched to believe that annual mine production is now being flipped and flopped every 10 minutes between the volumes being reported between SLV, PSLV and the silver contract. How ironic that a "sound money" instrument is now being Powerballed like a tsunami of lotto tickets.

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  2. rahbiiMay 3, 2011 at 11:40 AM

    my goodness....

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  3. Tiger-Cat GreatMay 3, 2011 at 11:49 AM

    Somebody's producing a horror film.

    ReplyDelete
  4. RogerMay 3, 2011 at 12:10 PM

    Looks like 40 is approaching...

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  5. AnonymousMay 3, 2011 at 12:23 PM

    What do you make of July volume at 147,000 ???
    http://www.cmegroup.com/trading/metals/precious/silver_quotes_globex.html

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  6. TonyMay 3, 2011 at 12:39 PM

    people have been complaining about this for as long as i can remember. nothing will be done about it. nothing. just accept it

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  7. airbilMay 3, 2011 at 12:45 PM

    Is this the de-coupling of paper from physical?
    And; would that be a sign of the Comex much talked about default?

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  8. AnonymousMay 3, 2011 at 12:58 PM

    I'm not complaining, just asking. Is 147,000 within norm, or way outside? What's the average/peak? BTW, it just jumped to 152,000. What would be a "wait a second, WTF is going on?" number?

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  9. 1111May 3, 2011 at 1:01 PM

    The price is 41 as opposed to 20 only a year ago. I can take that.

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  10. MarkMay 3, 2011 at 2:12 PM

    XAU to Gold ratio plunged again today, new annual lows. Wonder when this thing bottoms out?

    http://stockcharts.com/h-sc/ui?s=$XAU:$GOLD&p=D&yr=1&mn=0&dy=0&id=p73016528066

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  11. News WireMay 3, 2011 at 2:15 PM

    i always judge the price by what junk silver sells for on ebay. you can buy junk silver at the "buy it now" price of $45.50.

    that is the real spot to me.

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  12. BillMay 3, 2011 at 4:29 PM

    First time poster long time lurker Dan, great blog. I for one enjoy the consolidation The run up was quick and stealthy. Everyone calm down have a drink or 2 and buy the dips. I am seeing some Wal-Mart style prices in some of the better known stocks so load up. If we linger around $40 for a period that works just fine for me, I was buying physical @ $12, so $40 is just fine.

    Thanks for all you do Dan

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  13. AnonymousMay 3, 2011 at 4:50 PM

    I decided to sell my SLV. I took a nice profit. If it falls lower, I might buy back in. Owning silver is like riding a wild animal. I feel more comfortable having my money in gold, but the profit is lower. Sigh... tradeoffs.

    ReplyDelete

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