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- - Silver just dropped $2.50 to $9.50 WTF (http://goldismoney.info/forums/showthread.php?t=311440)

ruprick | 10-10-2008 02:08 PM
Silver just dropped $2.50 to $9.50 WTF WTF - is this massive manipulation or what is happening?! On the CNBC Ticker and also on KITCO

budfox | 10-10-2008 02:14 PM
Re: Silver just dropped $2.50 to $9.50 WTF I think some big boys just blew up. Something huge is going on that we don't know about.....yet. Silver is $9 bucks but you can't find any.:10_1_19:

DrillAndFill | 10-10-2008 02:16 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by budfox (Post 1349369) I think some big boys just blew up. Something huge is going on that we don't know about.....yet. Silver is $9 bucks but you can't find any.:10_1_19:
Best guess: hedge fund implosions. There are many hedge funds out there, with massive paper commodities holdings. This is going to be gruesome.

PatColo | 10-10-2008 02:24 PM
Re: Silver just dropped $2.50 to $9.50 WTF that's it, I'm goin short! (ding ding ding!) seriously, my paper is mostly in the trusty USD. And some shorts, SRS, SKF, CBG puts. There's always something going up!

mike77777 | 10-10-2008 02:27 PM
Re: Silver just dropped $2.50 to $9.50 WTF dollar positive bud? yeah skf had a banner week!

lhslancers | 10-10-2008 02:29 PM
Re: Silver just dropped $2.50 to $9.50 WTF How bout that yuprick.

HistoryStudent | 10-10-2008 03:33 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by lhslancers (Post 1349433) How bout that yuprick.
Chill - out - be happy the world is going to HELL! :15_1_70v::15_1_70v::15_1_70v::15_1_70v:

Curtman | 10-10-2008 03:37 PM
Re: Silver just dropped $2.50 to $9.50 WTF This market reminds me a 38 double D cup woman jogging and stepping in a rut. :36_1_25:

gaffer | 10-10-2008 03:40 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by DrillAndFill (Post 1349374) Best guess: hedge fund implosions. There are many hedge funds out there, with massive paper commodities holdings. This is going to be gruesome.
I concur. They are keeling over and couldn't happen to a more deserving bunch of traitors. Traitors for driving up the oil price thus lining the pockets of Putin And Chavez. Iranians too Dying hedge funds..... I like the sound of that

Metalophile | 10-10-2008 03:45 PM
Re: Silver just dropped $2.50 to $9.50 WTF I heard a rumor from a stock broker. G7 countries are getting together to work on some large action. All commodities are getting hammered.

ruprick | 10-10-2008 03:46 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by lhslancers (Post 1349433) How bout that yuprick.
I don't get it friend.....you calling me a prick?:36_3_12:

Twisted Avatar | 10-10-2008 03:47 PM
Re: Silver just dropped $2.50 to $9.50 WTF I knew it was going to go to single digits!!! There is a coin show this weekend I really want to see who the hell is selling. T

RealJack | 10-10-2008 03:55 PM
Re: Silver just dropped $2.50 to $9.50 WTF That's it! I've figured it out... "The TOP is actually an old senile drunk pet monkey who must have somehow outlived his (our) great ancient illuminati khazarian masonic catholic world wiz master who left the liquor cabinet open when he/she/it croaked at the central super computer systems monitor. It's the only possible conclusion.

HVACTEC | 10-10-2008 04:09 PM
Re: Silver just dropped $2.50 to $9.50 WTF I also think some company or huge silver holder or holders are dumping there silver to stay above water and in the mean time, there making the price drop

azxcvbnm321 | 10-10-2008 04:36 PM
Re: Silver just dropped $2.50 to $9.50 WTF This is what is called liquidation. When you need money to pay off some debt or something, you sell whatever you have at whatever price you can get for it. Today, Lehman Brothers credit default swaps settled. The price was 8 cents on the dollar. That means those who bought insurance will get 92 cents per dollar of insurance they purchased, while those who sold insurance will have to pay out 92 cents per dollar they insured. There was over $300 billion that changed hands. If you were one of the folks who sold insurance and now have to pay up, well you need to raise cash. The settlement is in cash, and a default here would immediately put you in bankruptcy as everyone would know you couldn't afford to pay up and stop doing business with you. By the way, there were no defaults, everyone was able to pay and did. But you might have to sell a lot of whatever you have to raise the cash to pay up. If you have silver and gold, well it's time to sell at whatever price you can get. Better than bankruptcy. That's what we saw today.

TheNocturnalEgyptian | 10-11-2008 03:21 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by Twisted Avatar (Post 1349776) I knew it was going to go to single digits!!! There is a coin show this weekend I really want to see who the hell is selling. T
Make sure you let us know

Nutflush | 10-11-2008 05:52 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by TheNocturnalEgyptian (Post 1351736) Make sure you let us know
To bad we cant buy any LMAO> Seems like there is indeed two prices for metal a retail price and a paper price. Clearly being able to open a futures acct. could make one extremely RICH> Unfortunately for me my net worth isnt enough to open an acct. BOO In canada all we can get is 500 ounce minumum order and I have to wait 5 MONTHS LMAO HAHAHHAHA OMG and if I do want to pay it is 15 cdn per ounce at least brutal. Border gold kitco VBC everyone unreal . Man I wish I could open a futures acct. And just keep rolling it over.

silverwood | 10-11-2008 06:06 PM
Re: Silver just dropped $2.50 to $9.50 WTF 1 Attachment(s) After listening to Don Coxe on 10/11 Financial Sense, I see clearly what's been going on. The Yen carry trade unwind is in high gear. The JPY has been the only major currency to appreciate against the US$ lately. The reason for that is Japanese investors are selling their assets which was typicallly commodity plays in AU$ or CAN$ or US$ and bringing the money home, converting it back to Yen. Hedge funds were also short Yen and are liquidating as the rapid rise in the Yen is forcing them to cover. Take a look at this chart... Japanese Yen...

HistoryStudent | 10-11-2008 09:48 PM
Re: Silver just dropped $2.50 to $9.50 WTF Try to buy it a that PAPER price for the DUMB sheeple. :10_1_19::10_1_19::10_1_19:

SomeSilver | 10-11-2008 09:49 PM
Re: Silver just dropped $2.50 to $9.50 WTF Could be the Comex is still overpriced at $9.50? Do they actually have the silver to back up the contracts? They claim to have 85 million ounces eligible to cover the 500,000,000 ounces in contracts. That's 17 cents on the dollar...IF they even have the 85 million ounces! Maybe the "insiders" know something the public does not. Maybe the contract is worth just about as much as paper FRN's. Maybe it is worth a bit more... an FRN is 2.75" X 6", a full 16.5 square inches of the highest quality paper money can buy. Anyone know the dimensions of a Comex contract? Is is printed on real good quality paper? Well, I suppose if its 8 1/2 X 11, 93.5 square inches is a lot more paper than 16.5 sq inches... in fact more than 5 X more valuable than a Federal Reserve Note!

HistoryStudent | 10-11-2008 09:49 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by silverwood (Post 1351920) After listening to Don Coxe on 10/11 Financial Sense, I see clearly what's been going on. The Yen carry trade unwind is in high gear. The JPY has been the only major currency to appreciate against the US$ lately. The reason for that is Japanese investors are selling their assets which was typicallly commodity plays in AU$ or CAN$ or US$ and bringing the money home, converting it back to Yen. Hedge funds were also short Yen and are liquidating as the rapid rise in the Yen is forcing them to cover. Take a look at this chart... Japanese Yen...
Good post CORRECT - it has been confirmed by many sources. Where's that POOP hitting the fan CARTOON?

specsaregood | 10-11-2008 09:57 PM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by azxcvbnm321 (Post 1349894) If you were one of the folks who sold insurance and now have to pay up, well you need to raise cash. The settlement is in cash, and a default here would immediately put you in bankruptcy as everyone would know you couldn't afford to pay up and stop doing business with you. By the way, there were no defaults, everyone was able to pay and did.
You sure about that? Everything I have read says that they have two weeks to pay up. http://business.timesonline.co.uk/to...cle4922981.ece Quote:
An auction of Lehman’s bonds yesterday determined that the bank’s borrowings were worth only 8.625 cents on the dollar. The valuation leaves the insurers of the debt a bill of about $365 billion. It is not clear whether the insurers, which are required to settle the bill in the next two weeks, will be able to pay – a development that could further undermine increasingly stressed capital markets.
http://www.nytimes.com/2008/10/11/bu.../11credit.html Quote:
Some of those on the hook will quietly settle their trades as they come due, mostly within the next two weeks, and keep doing business as usual. To the extent there are problems, the world may find out about it only when another financial services company discloses its exposure or perhaps even collapses.

RoyalBeluga | 10-12-2008 04:32 AM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by HistoryStudent (Post 1352265) Good post CORRECT - it has been confirmed by many sources. Where's that POOP hitting the fan CARTOON?
So what does this mean for the future price of physical Silver?:favorites8:

Orion | 10-12-2008 05:12 AM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by silverwood (Post 1351920) ...The JPY has been the only major currency to appreciate against the US$ lately.
Silverwood, Does that imply that the Japanese are looking at a serious currency crisis? Too much strength or weakness in the yen might not be healthy for them right now... -Orion

silverwood | 10-12-2008 10:51 AM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by Orion (Post 1352671) Silverwood, Does that imply that the Japanese are looking at a serious currency crisis? Too much strength or weakness in the yen might not be healthy for them right now... -Orion
All the global currencies except gold are facing a possible crisis as the fact that increased printing press action could result in a serious crisis of confidence and the resulting rush into things of real value. The Yen's action in the near future will signal important clues. A falling Yen IMO would indicate a return of confidence in the Yen carry trade as fear is motivating those investors decisions currently as they sell those position and go to cash. Gold has been weak in the Yen as it is coming off a recent all time high and will consolidate for awhile. Understanding currency interactions is a must if one is to understand the global market place.

lhslancers | 10-12-2008 11:29 AM
Re: Silver just dropped $2.50 to $9.50 WTF Quote:
Originally Posted by ruprick (Post 1349773) I don't get it friend.....you calling me a prick?:36_3_12:
Holy Sheet. I was at work and in a hurry. So solly. :15_1_70v:

45 ACP | 10-13-2008 02:27 PM
Re: Silver just dropped $2.50 to $9.50 WTF This is just the final paper drop before the COMEX goes bust. No one is selling actual silver. It is only paper. To the moon, soon!!

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