Friday, May 13, 2011

Shanhai Gold Exchange Cuts Silver Margins

Looks like the worlds largest gold and silver buyer may be giving the silver a market a small gift for next week:

"Silver is now the most speculated metal and any lowering of margins will lure more investors back," said Hong Kong-based physical gold dealer Ronald Leung.

Here's the LINK

I'm sure everyone has figure out that the Blogger software has been down for most of today and yesterday.  Hopefully they'll get my post from yesterday restored.

Have a great weekend everyone.  And if you think that silver was in a bubble that's popped or that this metals bull market is over, here's an oldie but goodie for you (Pick it, Pack it, Fire it up, come along, And take a hit from the bong):


  1. After hits from da bong we'll swim out past the breakers, watch the world die...

  2. Fuck tha CRIMEX. Bring on the CHINEX!

  3. I don't think the metals run is over and will also
    Take a hit from the bong. (and will inhale)!!

  4. Yes, a little Cypress Hill for Friday, nice. Another silver player enters the fray, should be interesting.

  5. It wreaks.....of manipulation!

    Max talks to Eric Sprott, Chairman of Sprott Asset Management, about precious metals, the ever-increasing margin requirements and the ever-decreasing dollar.
    @12 minutes

    Robin Griffiths

    Louise Yamada continues:

    “I certainly think that (silver) was due for a good reversal of what appeared to be an interim speculative bubble. But longer-term you can’t deny that silver has just come out of a 30 year basing process and I think is in a longer-term bull market. But after you have this sort of speculative run-up and decline, you are probably going to have to see a period of weeks to months of a consolidation and reestablishing the next base from which price can pick up at a later date.
    When asked if the commodities takedown was an attempt to push money into stocks Louise replied, “Well that’s a very interesting question, I think that’s certainly a possibility let’s put it that way for those who want to conceive of a contrived underlying motive.”$5,200_Gold_is_Long-Term_Channel_Target.html

    Druckenmiller Calls Out The Treasury Ponzi Scheme: "It's Not A Free
    Market, It's Not A Clean Market", Identifies The Real Bond Threat

    Next we move to the topic of the US ponzi and why the Fed is at its core.

    Some have argued that since investors are still willing to lend to
    the Treasury at very low rates, the government's financial future
    can't really be that bad. "Complete nonsense," Mr. Druckenmiller
    responds. "It's not a free market. It's not a clean market." The
    Federal Reserve is doing much of the buying of Treasury bonds lately
    through its "quantitative easing" (QE) program, he points out. "The
    market isn't saying anything about the future. It's saying there's a
    phony buyer of $19 billion of Treasurys a week."

  6. Remember...the fed head said he had many TOOLS!

    That said, the key to this working is that futures markets remain somewhat legitimate and serve as a reasonable price discovery mechanism. While everyone knows I believe the government manipulates and rigs all markets on a very consistent basis there are degrees to this and up until recently futures markets were at least still functioning to some degree (unlike the stock market which I believe is almost completely controlled).

    With what I have seen in margin hikes in silver and now the oil complex I believe we may be entering phase 2 of central planning, which by definition will be more thuggish and overt than phase 1 since the planners have lost phase 1 and are bitter about it.

    They want to punish those that cause them to lose.

  7. PIMCO's Largest "Equity" Holding - Gold

    "The largest position in the fund is gold, which we think is a very good form of protection against what can go wrong.