Too much silver, and nobody wants it.

FluffyMcDeath said:
That's why the price is falling 'cause no-one wants it - because Rio Tinto suffered a landslide which impacts their ability to produce silver in the short term and there is no silver to be found if you want to buy it - thus the market infallibly decides that silver is too expensive.

Or could it be that paper promises of silver are worthless?
Click to expand...

Goldman $achs (of shit) is manipulating gold, and by extension silver, downward. Actually it is more than just G$, but they are the biggest player. You can't fight the tape, so I am short a gold mining stock. At some point when the panic selling is the worst, I will buy some physical gold and go long some carefully selected beat up miners.
 
Good video. Clearly this pullback was/is a coordinated takedown. No question there at all. The only questions I have are:
1) How low will this pullback go?
2) How long will this pullback last?

You can't fight the tape, only try to make money while they play their game. I've taken a short position (make money when a stock goes down) in a gold miner, which I hope to cover in the next few days or so. Looking forward though, a lot of mining companies will go bankrupt if gold stays at these levels for any extended period of time. The cost to extract gold at a lot of mines have gotten as high as $1,400 "all in". The gold won't get pulled out of the ground if the mining company can't make money. Of course, it is possible this is by design to bankrupt the marginal players and consolidate into fewer large miners, probably ones politically connected or largely owned by Goldman Sachs.

Speaking as an investor, I hope this pullback lasts for a while and gets nasty. I'll pull the trigger and go long when I see the whites of their eyes.
 
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