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SLAMMED AGAIN. Silver Now Below $25.00

Paper silver is slicing through $25.00 on the Globex tonight. Given the fundamentals, this would be a near impossibility in a freely traded, HONEST market. $25.00 marks firm support for silver which has held time and time again for more than three years. Gold has also fallen off a cliff, now down $35 or so.

These criminals will steal everything in sight, from savings in Cyprus to Social Security to pensions and all points in between. And by issuing billions of ounces of paper metal, they can steal the physical cheaply. The criminal Cartel will offer us no harbor from their crimes.

Smart money is buying tonight. Although if we don’t get a very hard bounce higher tomorrow, next real support is at $20 – 21.

SILVER: The Achilles’ Heel

57 comments to SLAMMED AGAIN. Silver Now Below $25.00

  • Bob A

    But, but the mine just vaporized…how many millions…LOL…no worries for me. I will just keep buying. I told it would drop 2.00 bucks on this news. I say we see 22.00. And unfortunately, I don’t think it will be a slow bleed down either. Damn. I have my commish check at the end of the month! Bummer.

  • PTS

    Amazing…I am seeing 24.88 right now.

    • Iguana Green

      I just checked in. WOW! They are really hitting it hard! What criminality!
      Selling paper as fast as they can! What pray tell is coming?
      I’m gonna try and find some silver that someone sold out of panic to a coin shop tommorrow. Hope the coin shop will still sell me stuff for 1.50 over spot.
      If they don’t have any from a panic seller, then all they will have is OLD stock that they paid 32. for and won’t sell it for less that 33. per OZ. I won’t buy it.
      Somethings gotta give? NO?

  • zensilver

    Down, down, down. Sigh – I think this thing might run into the teens. Confidence has been broken. I wonder if this will be a repeat of ’08 – great time to buy ?

    • Iguana Green

      It’s a good time to buy yes. But you will not find any silver to buy. No body is selling including me. I will NEVER sell out of panic. That is what they want you to do! Do NOT sell. HOLD and KEEP! Save your $ in silver and gold. Keep saving no matter what the price goes to. It doesn’t matter. Do you work? Do you have a job? Good. Keep saving your money in Metal. Courage my friend. Courage.

  • Troy

    This is awesome! I have dry powder waiting. Don’t wait too long to buy guys, cause the only thing that might be left to buy soon are 100 ounce bars and expensive limited colorized coins. Hey, didn’t Wal-Mart have silver ear rings…I gotta go!

  • Eric

    Every day is a great time to buy. $20 would be sweet. $0 would be sweeter. Don’t be greedy. Just get everything you have out of their system. Sleep well at night and wait for the system to shut down without worry. Zero is a lot closer than 1000.

  • I was watching the amackdown over @ silverdoctors.com and then the site crashed. They have been attacked repeatedly lately. I think it may have just happened again.

    • willy

      SD doesnt get attacked, as they like to think. It is the cheap GoDaddy hosting. Sites that use a more robust hosting solution dont have trouble or “get hacked”.

  • BUZZ

    Did we think the cartel would go quietly into the night? This is their game…this is what they do.

    I am soon to be in the red on my pm holdings and I have been buying since 2006. I normally get all beat up about the price in USD…but not this time…why? because i was anticipating a massive crash. And to be honest…i welcome this…it had to happen IMO. Now we shall see if demand outweighs manipulation. We shall see how the miners react to the cartel….We shall see if dealers shut it down…we shall see if inventory dries up. Because if inventory doesn’t dry up…then we will hv lost our fundamental claims that silver is in short supply…we may be waiting a long time for the next bull. the last cycle of suppression lasted for 30 years. Sure we all think that a dollar reckoning is around the corner but so did all of those pm bugs back in the 1970s…and poof. The cartel controlled the price for another 30 years.

    Like i said in another post.

    Silver is not an investment…its a moral position and an currency insurance policy.

    I suppose that honest people who hold precious metals will have to suffer tremendously pain for a while…perhaps years…maybe decades. No one can say for sure.

    And lets say we have shortages….I Not sure how this plays out when there is no silver to be sold…at 5/10/15 dollar (paper silver) mines blow up…mines shut down…but who the fk cares in the wizard of oz world controlled by the criminal banking oligarchs.

    I am sure that i am not alone when i say this:

    FK you banksters you aren’t getting any of my physical stack….not unless i see paper backed by it or we see an honest value. My stack will go to with me to my grave before i hand it over for cents on the bogus, unbacked, corrupted fiat dollar.

    • Bob A

      Amen Buzz. I don’t care if it stays here for another 30 years. Just in time for me to retire before the next cycle up, and 20,000 oz. fine by me.

      • BUZZ

        lol silver will be down 16% by the time the news that 16% US annual silver production has been lost in the rio T collapse.

        unreal the deception being played out here.
        You have to hand it to these criminals…they have their software sell programs fine tuned.

        Just take it down to 10 bucks overnight and get it over with…don’t even pretend just kill the price lets see what math and nature have to say about all of this unnatural manipulation.

    • NaySayer

      I agree with a lot of what you post, however, there is a big difference between what happened 30 years ago and what is happening now. I see this as a last gasp desperation hail mary play.

      The fed is not going to step in like they did back then and raise interest rates to stop the inflationary tendencies. They CAN’T DO THAT. We weren’t as broke and overextended back then around 1980. They cannot stop what is coming from too much printing by raising interest rates that the US govt. could never afford to pay.

      They will close all the borders of the US and institute a worthless internal dollar and a backed (even with gold/silver) external dollar before they will lose power. As Gerald Celente has said, they will break any law, do any horrific thing, break any promise to americans to keep power.

      • BUZZ

        i agree with your fundamental reason for rising interest rates. I don’t think i would have bought so much pms if i didn’t think the FED was not boxed in. Which they are.

        However, do you think that computer controlled markets were common place back in the 70′s? Thus controlling the prices of pms must have been much more difficult to control back then…they cartel learned from their mistakes from the 70′s imo.

        My recent thinking is that computers HFT and their systems are the direct reason for the fraud and corruption which is clearly out of control. They have cornered the global markets for everything from bit-con to coffee, and just like commie soviet union…they will tolerate shortages prior to allowing free market pricing. Therefore…just like we are seeing with bullets…silver might be 5 bucks an ounce and no one is selling it. Look at the us mints…shut down production it seems once a qtr now.

        I think our only hope…is what brother john speaks of..a disconnect from paper to physical….so get used to buying and selling pms on ebay…until they shut that door.

        And who is going to challenge the manipulation? Russia?, China? and why would they…there are some good reasons out there…but i am not sure that commie china wants a higher silver price…commie china has survived for centuries because it keeps is people down.

        Perhaps an end of the usd as reserve currency is around the corner…that is the reason why they have decided to crush the exits…not sure but I think we are headed for a great deal of pain in near term.

        • NaySayer

          I don’t remember where I heard it, but, supposedly Volcker stated back in 1980 that the big mistake they made when having to raise the interest rates to get inflation back under control was that they didn’t get a handle on the gold/silver prices and that is what was tipping off the average american that they were destroying the dollar through inflation.

          They learned their lesson. This time, as they try to kill the dollar they have learned that they have to try to silence the canary in the coal mine of gold/silver/commodity prices in order to keep the average person asleep and accepting of their fake green fiat paper.

          If you haven’t got your food, water, heirloom seeds, guns, ammo & phys and gotten to a safe location then you need to get going. I don’t think this can last, but then I have been expecting it to crash for some while and the corrupt banksters & their puppet politicians just keep committing new atrocities to keep it going a little bit longer.

          • BUZZ

            i never could have imagined watching this unfold in my lifetime.

            I guess we should all be thankful that the dollar still spends because when it doesn’t perhaps silver and gold will be trading for fuel, food and water.

            gl

    • Eric

      It won’t be nearly that long. 5 years maybe 10 before this cycle ends. Probably sooner. I see this as just a very long consolidation before the final blow off spike up. The longer the better. Jim Rogers lays out the 20 year correlation between stock bull markets and commodity bull markets in “Hot Commodities.” 1:1 dow/gold ratio here we come. Let the good times roll.

    • Hannon

      In the 1970′s we were the worlds top producers, so people around the world could still send us the dollars back in exchange for real stuff, we could fall back on a real economy. Now all we really produce is poisonous GMO food that nobody wants, guns that the feds are trying hand over fist to shutdown and way over priced military tech nobody can afford.

      I don’t know if the cartel will be undone this time around or not but I’m not expecting similar dynamics to the 1970s, if the feds leave every thing in place the way things are now and just move the interest rates up, the dust isn’t going to settle back into the good old American dream this time and maybe that’s their plan

    • Glitter1

      It can not go/last for decades,the fundamentals have not changed,they have only become more acute. In the 70′s the US had no debt to speak of or 0% interest rates. 23rds of the World is dumping the Dollar for trade at the same time US is counterfeiting 1 Trillion a year.We are witnessing the Death Throes of the Beast.

    • Iguana Green

      Decades? No way does it last that long. it’s close. real close. I think 2014 2015?
      Collapse is near. Why do you think they are selling paper? They want physical!
      They aren’t gonna get it from me though. I save my $ in Metals. Pay bills in currency.

  • Daniel

    I went to the coin shop on Saturday. It was packed with buyers. Stupid criminal bansksters.

  • Travis

    This is the bottom. 24. I’ve got a large option trade waiting for the Monday open.

  • Frank Zak

    Lots of big money moving into
    real estate.

    Silver overproduced 207 million oz
    a year per Kitco with mines expanding rapidly.

    Monday could see lots of selling, as longs have
    to meet margin.

  • Troy

    DayTradeShow thinks they could knock silver to $17.50…thats his “Load the boat” price. Stella says load the boat at $24.75…which is happening now.

  • John

    Like I mentioned earlier, the LCD is basically out of all Silver, no delivery for upto 4 weeks… Unless someone brings some in because of fear.. I will call in the morning but I would LOVE 20.00 Silver, the more ounces, simple math…… Why would I want to pay $70.00? If someone offered you a new Porsche 911 Turbo for $10,000, would you take it? The Fire Sale Continues……

  • Son of Liberty

    This is not good people. Not because of the silver price… this is what the deflationary collapse could look like. EVERYTHING that is real is down right now. Go to finviz and check out the 5 minute futures charts. Its ugly. There are explosions underneath the hood of the world economy right now, and gold and silver are just telling the truth.

    Hold on to your stack and fasten your seat belt.

    • lastmanstanding

      you are absolutely correct…we are seeing the big deflation right now. Funny how it is coinciding with April 15.

      They are coming hard…stand fast.

  • Dan

    You know, I keep telling myself precious metals is the right thing to do, but when every so called expert out there has been so wrong for two years now I now ask myself why I should believe them now? I will not sell, but there is a huge part of me that really questions if this is worth it. The stress, the drama, the flat out depression knowing my average price is mid 30s with nothing to buy now. I am deep in the red, I keep telling myself I am doing the right thing, the experts tell me I am, but it has been a disaster the last few years, and thse experts clearly have no clue of what is coming next, so why should I believe them? Sorry to vent. Just so frustrating that I got in 30 percent higher because I thought it was the right thing to do, the experts agreed, and the fundamentals were there. These markets have been ruined for months now. More months of me worrying about being in the red. Sigh.

    • johns

      Read Glitter1′s post above @ 10:50

      ” 2/3rds of the World is dumping the Dollar for trade at the same time US is counterfeiting 1 Trillion a year.We are witnessing the Death Throes of the Beast.
      ..”

      He NAILED it!!
      Sit tight.

      • lastmanstanding

        Amen Johns…captacha ate my response to him…believe in things that are real and of the earth…they will never let you down.

        …and while your at it, don the full armor of God and stand with him.

        We must stand with him or perish. I’m not ready to go yet.

    • The Truth

      Have faith Dan or should I say Daniel? You will see what is in store for all criminals when this is over. Here is a quote from Haggai 1:6 “Ye have sown much, and bring in little; ye eat, but ye have not enough; ye drink, but ye are not filled with drink; ye clothe you, but there is none warm; and he that earneth wages earneth wages to put it into a bag with holes”. The money that people are saving in today is considered a “Bag with holes”. It is an abomination because it is not just. The word silver means money. The silver is mines and the gold is mines saith the LORD of Hosts! The prices of real assets are just showing you what the value of FIAT is going to become. No one can tell you, me or anyone here how much to sell our silver for because we now know that the measurement of unit(the dollar) has no value.

    • Jayber

      Keep your chin up, bud, the fundamentals are in your (our) favor.

      It can get wearing, but just think of Cyprus. Then think of the other countries talking about doing the same thing. Then think: what if that happened here? PMs are just an insurance policy you buy that will never be worth zero. When you compare how much you’ve paid for car/auto/medical insurance you never used, with nothing to show for it…the little bit you are in the red doesn’t seem so bad.

      At the end of the day, something like stocks can go to zero (I’ve had it happen), but PMs never will. And they’re darn pretty and make good gifts, too.

    • Like the man boogoo said Hold. You knew when you got into this it would be a roller coaster ride. Use this as an opportunity drop your sliver dollar cost average. I also want to tell you it’s not about believing other people you have to do your own homework. I am sure you know the fundamentals of the fed and they are pumping money into the system along with many other countries like Japan. This so called recovery is an illusion you know that and the evidence shows it. You should not be worrying about being in the red if you got in this for the long term. This also go’s for everyone else on here that is worried. Keep reading, keep learning, and most of all keep staking you will not regret it.

    • Andrew

      I hear you. I was tracking this, and reading on major gold website how ALL the editorials seemed to be saying that this was the ultimate bottom for gold and silver (eg at 1540 for gold). And I was thinking, don’t these gents know how to read a chart? Sure the DAILY chart shows a possible bottom, but what about the weekly or monthly? Clearly WAY overbought. I refer to the book “Reminiscences of a Stock Operator,” about this guy who successfully played the stock market at the turn of the century, when all they had was the ticker tape. He would say, anyone can give all kinds of reasons for why something should go up and down. But in the end the price action only will tell the true tale. According to my read, we have a ways to go down on both gold and silver charts. At least to 1000 gold, and 15 silver, possibly more, but time will tell.

  • boogoo

    Me thinks this is a modern day confiscation..They scared people into handing in their gold for 20 in the 30s only to revalue it afterwards..Now they are scaring people into selling as they know it’s impossible to do a ‘linear’ confiscation..HOLD!

  • boogoo

    INDEED JOHNS

    We are witnessing the death of the current paper promise paradigm. INCLUDING PM paper promises like some 500 previous paper promise schemes before..!

  • Morgan Clark

    Let’s not forget JP Morgan still has a massive short position and needs to knock the price below $22 to cover most of it. I have dry powder and will wait until it dips lower. Despite what the so called experts say silver is not going to the moon anytime soon.

  • Johnny

    They can manipulate digits on a screen, but they CANNOT change reality. This is as much of a psy-op as anything, so don’t let ‘em get to you.

    Stay the course, it’s the right move considering all of the indicators. And other options do we have? NONE!

  • boogoo

    very simple mathematics ..even for this clown..Silver paper sold at minimum ration 100:1 physical = Paper price going to it’s intrinsic value ’0′

  • Steve_D

    Ok, Lets look at this rationally. What if this isnt manipulation by the cartel, but a huge sell off by the paper SLV holders because they see massive profits being made else where (BTC – LTC) and they have deceided to jump ship from one imaginary trade that has under performed for years into one that is in its infancy has just had a major correction and is looking like it may be ready to resume its uptrend?

    Has Crypto currency played a massive role in killing the paper Silver market, yet set up the physical market for a blow off?

    Lots of those who made a hefty amount in BTC and cashed out before the crash are Silver bugs too, massive amounts of new money went into Physical Silver (Going by what I have read on numerous BTC blogs) when people followed Chris Duanes advice and took some chips off of the table.

    • BUZZ

      Steve I am going to stop you right there dude.
      Just look at the quantity of money:

      Paul Roberts:

      People ask me how I know that the Fed is rigging the bullion price and seem surprised that anyone would think the Fed and its bullion bank agents would do such a thing, despite the public knowledge that the Fed is rigging the bond market and the banks with the Fed’s knowledge rigged the Libor rate. The answer is that the circumstantial evidence is powerful.

      Consider the 500 tons of paper gold sold on Friday. Begin with the question, how many ounces is 500 tons? There are 2,000 pounds to one ton. 500 tons equal 1,000,000 pounds. There are 16 ounces to one pound, which comes to 16 million ounces of short sales on Friday.

      Who has 16 million ounces of gold? At the beginning gold price that day of about $1,550, that comes to $24,800,000,000. Who has that kind of money?

      What happens when 500 tons of gold sales are dumped on the market at one time or on one day? Correct, it drives the price down. Investors who want to get out of large positions would spread sales out over time so as not to lower their sales proceeds. The sale took gold down by about $73 per ounce. That means the seller or sellers lost up to $73 dollars 16 million times, or $1,168,000,000.

      Who can afford to lose that kind of money? Only a central bank that can print it.

      http://www.paulcraigroberts.org/2013/04/13/assault-on-gold-update-paul-craig-roberts/

  • mike

    I think we are witnessing the death of the PM bull…Taken me a long time to come to the conclusion that money isnt gold and silver its whatever anyone perceives as money. The masses currently do not see gold and silver as money they see paper. Paper will reign if the US defaults or citizens on any of it’s debt. No Debt equals the destruction of currency, less currency equals deflation. When this crashes after the great deflation then maybe the masses will see PMs as money or maybe not. Bitcoin is a good example of what people perceive as money. I do think the current system will implode. Beyond that who knows, nobody. All the PM minds shouted silver and gold and their arguments were sound however there is no predicting the “Market” and there is no predicting individuals. I just hope the Gurus take a long hard look at this, try and understand the currency which they dont..They understand segments and make conclusions resulting in their version of the Big Picture..The Real Big Picture obviously eludes them and me up until a few weeks ago. The more the economy struggles and individuals the stronger the dollar. In my opinion we will never see a good economy where all the regular Joe’s are working paying bills on time. You will see larger company’s as well as more individuals default on debt. You will see the Fed printing madly to keep up with the destruction of money to a point. I think they are liking their new deflation tool at least when it comes to crushing commodities.

  • Alvin

    Dealers I deal with selling $4 over spot. That ain’t a good deal. Almost $29 an oz. I ain’t buying.

  • ArvUK

    Hey Sean,

    Truely shocking moves in PM prices. I’ve been up since 2 AM London time as I couldn’t sleep. I logged onto my metals dealers site and saw the prices in GBP £ was too good to resist buying. Amazingly, I’ve just logged on again, after the $100 gold futures dip in NY, and seen that my dealer is now NO LONGER SHOWING THE SPOT PRICE for Ag and Au on their site. It was there earlier this morning.

    Bloomberg now reporting silver is getting absolutely smashed.

    Back the truck up!

  • Hman

    PM lovers should rush to buy like it’s black Friday. 20% below cost sale, you can’t beat that, now can you.

  • buzlow mayday

    Strap in and please keep your arms and legs in the ride at all times!! WEEEEEEEEEEEEEEEEEEEE!!!!!!

  • Silver shield

    Virtual reality- $25 silver
    Reality- Kennecott Mine collapse
    Reality- record US Mint demand
    Reality- 2008 I sat through -60% manipulation and watched all the trolls say the same BS and it went up 400%
    Reality- I value my silver in ounces and will never be fooled by their illusions again.
    Reality- currency wars are here and we have systemic risk of a dollar collapse and you need real assets.
    Reality- supply will dry up and the physical market will detach from their virtual reality.

  • Ade

    Wow, have had better days I must say. This continued pummeling is starting to wear me down, and more than a little cross! The thing is though Im not cross with the banks/government. Theyre doing what they always have – its their job to pillage anything the ordinary person tries to save. No surprises there. I’m not cross with the champions of silver, be it Eric Sprott, Andy Hoffman, etc with their price predictions – theyre good people trying to help. Im cross with myself, and my naivety. History has shown that this is not a level playing field. Fundamentals mean nothing. It’s a loaded table and if the Cartel (for want of a better word) want silver at 1 dollar, they can and they will do it. It’s their game, they make up the rules, they decide who wins and loses. Thinking this could possibly change has been a great mistake of mine. Ive been risking my family’s security in the childish assumption that it will be different this time around. I intend to keep my silver and gold, but am going to have to think long and hard if I ever am going to add to it, its just too frustrating losing on what should be a winning ticket! Apologies for the downbeat nature of the post, am normally an optimistic type, but this has knocked me. Keep up the good work Sean.

  • Rudenewt

    For those of you who used to read…
    There’s this book called The Last Hurrah. It about a corrupt old school politician in the 50s who’s been mayor for ever and announces one final run at the age of 72. His opponent is some non-political type running against all the power a political machine can muster. The opponent has one thing going for him the mayor doesn’t. Some new fangled thing called TV. The opponent wins and the Mayor dies of a heart attack. So what you say?

    We’re the opponent, silver and gold are the run for office and the internet is the new fangled TV. The Banksters are the mayor just waiting to die when something they don’t really understand crashes their plans to naught. It is inevitable and unavoidable. Time is catching up and crushing down on them. These price shake downs are their Last Hurrah.

  • buzlow mayday

    This is the problem as I see it: Yes, the paper markets don’t reflect the true price of metals; however, when you have such a large and lopsided participation in the imaginary paper market, the actual physical market is of no consequence. As long as the majority of metal traders are in paper, then one can never win in the physical realm. So what if this is a buying opportunity yet there is no metal to be had – this will not effect the manipulation whatsoever. Even if all the true metal is held by us physical buyers, in the grand scheme of things there are just enough perceived crumbs floating around to trade amongst ourselves to get the feeling that we are actually in the game. At 1% to 3% traders in the physical metals market cannot effect movements in price one iota.

    Bottom line: How do you get those paper traders to start claiming their metal instead of taking paper profits? Surely if you’re in this game you must be aware of all the shenanigans that are going on with the use of naked paper shorts. If so, why do you paper traders keep setting yourselves up for a fall? ETFs are easily manipulated derivatives and nothing more…..

    In 2008 it took two years to come off the bottoms and then regain the previous highs at $21/Oz silver. At this point, only a major black swan event frightening paper traders to ask for their metals instead of paper profits and then be denied will be the only catalyst at this point to turn things around.

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