03.01.2011

SILVER MAKES NEW 31 YEAR NOMINAL HIGHS

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It has been a few days since I have been comparing the intra day levels from both the price of silver in that of dollars and gold/mg. For the most part they have been trading very similar and today was not that case. The price of silver didn't go up that much today and it was more along the lines of the dollar losing value. The increase from 4pm EST yesterday and 4pm EST today was that of 0.67% and in dollars it was 2.33%. I have heard the crowd on many occasions state that its not that silver is going up, the only reason the price is higher is because the currency keeps losing value. Well, I do not deny the price going up as currency falls and agree to many levels. I just feel that is not the only reason as it is both a combination of silver increasing in value and the dollar decreasing in value at any currency on this planet. Now that silver is moving itself into new territories this means that it will be soon time for the price fluctuations to become volatile again as this seems to be the them when silver can make new highs of even that of two percent from its older ones ($34.33 was its last older high). This also means Joe (SilverFuturist) may give us a nice little Yoga Pose. (Joe if your reading this, I'd like to say 'Hi' and state you are awesome, keep doing what your doing). How fast this is going to move up to the next long term fibonacci level (between $48 and $50) is not easy to state. What is easy for me to state is the trend is higher and the market is in a very solid uptrend. What is also easy to state is that the natural law of creating money out of thin air through the central banking system that we are currently using has caused may to suffer through debt and many to find out how money is created, which hopefully will get you pissed. These pissed off people will revolt either through bringing a sign to their downtown riots or by getting gold and silver. We have seen that it is coming harder to come across 999 bullion now and it seems there are many more people whom are awake today then there was a few months ago. There should be many more awake on April Fools day this year (1 month from now) than there is today. That is no joke, but the fools game might be that finding silver becomes that of a challenge and the paper game as possible the ultimate fools surprise.



North America is Destroying the Silver Price








I for one was shocked to see that this kind of manipulation was taking place. In a world where it seemed very safe to think that everything in this world makes sense that makes everyone happy. Ok, I can only be sarcastic for a short period of time, as these charts shown above does not make sense. This is the same metal being tracked on the same dates and yet its up 344% in the non USA time frames and down 46% when New York City is in charge. Is this telling me that we are seeing JP Morgan and all the other big North American banks short this metal (and gold) and thus thats why there is a major difference in the two charts? I wish I could tell you, but I am only speculating on what reasons this could be. The stats and data that were given are not speculation, but facts. It is factual that since the ETF came out in 2006 that despite silver having amazing gains, it gets hammered from 9:30am to 4pm EST.






The US Mint has stated the following:

Production of United States Mint American Eagle Silver Uncirculated Coins continues to be temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Until recently, all available silver bullion blanks were being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

Although the demand for precious metal coins remains high, the increase in supply of planchets—coupled with a lower demand for bullion orders in August and September—allowed the United States Mint to meet public demand and shift some capacity to produce numismatic versions of the American Eagle One Ounce Silver Proof Coin.

However, because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced.

The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.