Silver getting crushed today

Yea I think that is what I will do too. maybe wait till provident runs a special for there monday deal for that year. I was very surprised when I found I had collect them for the last 5 years, LOL I even had kooks, Kola's, And philharmonics! Did not know lol. When ever someone gives me a gift card that I can use for something like that I figure its a freebee and must have bought them and Forgot.

 

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Wait, I thought the "kooks" all posted here.

 

And it's getting a good start today...

 

I predict the mid 30s by next week, or the mid 15s ... or somewhere in between.

I'm confident of that too !!

 

I predict my silver will still be worth exactly the same next week as it is now. Each ounce will still be worth exactly one ounce.

What I am not so sure about is how many little scraps of paper someone would be asking me for if I were to try to acquire some more.

 

Yes We Have $18.25 LOL By the time I posted it went down to $18.23

 

AM LIKEN IT BUCKY.....SLOW BUT STEADY....

 

Hope this isn't construed as political - the US House passed a bill to audit the Fed. Anyone have any ideas if this will impact the price of PMs?

 

Yeah, it's silly how much people focus on those little scraps of paper instead of the real measure of value.

Almost as silly as how much they focus on food, housing, medical care and employment, all of which seem to require the little scraps of paper, and remain stubbornly independent of any "real measures of value"...

 

Down to $18.06, Crazy

 

You should not be using silver for those items. You should pay for those with FRNs before they get inflated out of existence.

 

Back to $18.18 Mor a min anyways.

 

Metals all down except silver. Interesting with the stock market having a good day too.

 

Yeah, silver was like Bananas today.
I got into a bunch of Banana options at an apeeling price, but I sold them quickly before they slipped away. Made a small bunch of money on it.

 

I do hope it stays away from the politics, but this new bill IS ALL about politics in my view, so tread carefully.

Please note the term audit in the bill is not about financial audits. This has been done since 2008 for example see :
https://www.federalreserve.gov/aboutthefed/fed-financial-statements-2015.htm

with rest in archives menu above.

But more an audit into the policies of the Fed. Some will think it is a good idea to let congress monitor and maybe control the activities of the fed, while others will not. I am sure you have your opinions and so do I, but they involve politics, so they are not to be discussed.

I think all political actions have an effect ( up or down) on gold and other commodities. Jim

 

I hadn't had time to read the bill. With Rand Paul's previous push to audit the fed and his push for a return to the gold standard, my understanding had been that the audit was to make sure the gold we said we had was actually there. Didn't know it was more policy based. Don't want to get this into restricted territory.

 

HR 1207 was passed many moons ago to Audit The Fed. Nothing came of that, and I would be very surprised if anything came of this.

It doesn't really matter who thinks that it's a good idea for Congress to monitor the Fed, because it is their obligation to do so. That it is up for debate shows that our lawmakers do not understand their charge, since I will assume incompetence over worser explanations.

This will have no bearing on the price of metals, because price is driven by derivative contracts that are leveraged between 50 and 100 to 1 according to the now late Adrian Douglas of GATA.

What could drive price is that the CME has now stepped down from the LBMA price fix. Since China joined last year they are now in a better position to set the price fix, and their buying habits point to bullishness.

 

Welcome back.

 

Speaking of ...

 

John Maynard Keynes--him what is lord of the Rabbit hole?