Silver Update

SLV is an ETF (Exchange Traded Fund) which uses paper to substitute for gold. Someone just took 42 million ounces of silver out of SLV.

COMEX trades 8 billion ounces of paper silver a week. They lost 30% of their physical silver in 6 weeks. Then after that they lost another million ounces in just one day. That means they now have 28 million ounces of silver at COMEX. That is less than 28 ounces of physical silver for every 8.000 ounces of paper. At the current rate of flight from COMEX and SLV, we can expect them both to be all paper and no physical in a few months. Actually when the COMEX gets down to around 10 million ounces of silver for 8 billion ounces of paper claims to that silver, the Hedge Funds and the Sovereign Wealth Funds will take down the COMEX and the dollar by buying that last 10 million ounces of silver bullion.

Even at $50 an ounces that is very doable for even one man with half a billion in Treasury bills and is worried about the value of his collapsing purchasing power. Nobody will want to be the last man standing and holding absolutely worthless paper dollars and paper silver.

I expect the euro to collapse within months. Greece is near the end. If the parliament votes NO Confidence, the parliamentarians will have to run for re-election with two million Greeks chasing the politicians with nooses.

The dollar will collapse soon after the euro as American banks are also European banks and have insured their bonds and deposits through CDS. Hundreds of billions or really tens trillions of dollars in CDS and derivatives will unwind and take down every American and European corporation you relied upon.

One day very soon your 401K, your IRA, your pension, your savings and everything you worked for will all disappear in hours.

Things will continue on this present path until one day it is too late to buy silver.

As I have said before, I am not an investment counselor and am not giving you investment advice. I am just telling you what I am doing. I own silver.

I will issue silver updates from time to time. Silver is the investment of the decade. It could save you and your family from grinding poverty. In the Great Depression millions of Americans died of starvation.

I will conclude for now with this video.

About horse237

I have decided to share two of the visions I had as a child. When I was eight, I had a vision of a future war that killed 99.5% of the world's population. When I was 16 and living in the projects, I had a vision of my future. I was to live in complete obscurity until it came time to stop WW III. When I was about ten, I had read a bio of Nikita Khrushchev which said he survived Stalin by playing the bumbling fool an old Russian peasant trick. I decided to do the same as I had already learned that we did not live in a democracy. The other vision I had when I was in third grade was of the Mind of God and how it interacted in the creation of the world we see. I believe you and I were born at this time precisely so we would have an opportunity to stop this war. As for my personal info, I grew up on military bases and in housing projects. My legs atrophied from starvation as a child. My second step-father died in prison. I used to have to rub my skin to simulate human contact. They did not feed me when I was a child. I do not fight in their wars as an adult.
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4 Responses to Silver Update

  1. giulio says:

    I am firmly with you on this position Sir,and for that I wish to thank you for linking to Harvey! I do read numerous pages dealing with the “metals” and follow them in various ways but Harvey puts it into a light that both illuminates and educates. Not to mention entertains. I love the guy! Now I wonder what you would make of this tidbit. Is this a play,a ploy or a prayer? A cry for help? A huge red fish? Watching what is actually being sold and at what price
    certainly doesn’t lend any weight to this view.

    “Bearishness of a different type is being exhibited by Mark Arbeter, the head of Standard & Poor’s Equity Research. After divining the charts in equities and commodities Mr. Arbeter opined one month ago that the recent sell-off in commodities (beginning of May), the sluggish emerging markets niche, and the rebound in the US dollar coupled with the unravel in Treasury yields portend a possible topping in the stock’s bull market.

    Mr. Arbeter also feels that “commodities have peaked, in our view. We think gold could fall all the way to the $1,250 to $1,300 [per ounce] region before the next strong buying opportunity will emerge. Silver has some support in the $30 [per ounce] region, but we think it could decline all the way back to the $20 area before this correction ends.”

  2. horse237 says:

    I am very cautious. I think the euro will be trashed making the dollar look good only by comparison. But the New York banks have trillions of dollars in CDS for those bad European debts. So when the euro goes the dollar will soon follow. There is a limit to how many Bernanke Bucks the FED can print before food prices go to infinity.

    I have sold all of my gold. I only own jink silver. If I see an opportunity to buy silver at a good price and am convinced the price of silver will rise at least 50% on 2 months, I will buy more silver on credit card. I will wait a month and then start selling silver on EBay. So far this is only a thought I am kicking around. I will tell everyone when I do buy silver on credit. As that will be your last opportunity to move away from the cities buy storable food and establish your own network of armed survivalist friends in a rural area.

  3. giulio says:

    I am with you there also. Peace dollars Hi-Yo!
    But in another vein; What do you make of this?
    http://www.october2011.org/

  4. horse237 says:

    I think the tenth anniversary of 911 is far more important so I am thinking of September. The economy might collapse before October. I am writing a new essay and should post it in a day or two. You will understand what I am heading for in September or before when you read it. Please do not ask for hints as I want to present the whole of my argument in one place.

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