Massive paper silver dumping continued with today's March FOMC statement. Beginning exactly at 2:15 pm EST, 90 million ounces of paper silver were dumped on the market over the next 15 minutes, and a total of 132 million ounces over a 30 minute period from 2:15-2:45pm EST.
As can be seen on the 1 minute chart below, at precisely 2:15, silver was raided from $33.47 to $33.25 within seconds of the FOMC news release that the Fed stands ready for further easing with volume of nearly 2,500. Silver then spiked from $33.25 to $33.64 at 2:16 EST. This spike was met with another immediate paper raid, crushing silver back to $33.23 within 2 minutes.
10 minute spot silver chart with volume from NetDania:
1-minute spot silver chart with volume:
53 comments:
Blah Blah Blah. So what is anyone going to do about it. Everyone is impotent about it. There isn't a counterforce. If you think its the little physical guys - keep stacking its going to be meaningless.
Oh No!... Silver is down to $33.50/Oz! But it was only $4.00/Oz in 2000!...
My, how the strength of the Dollar has shown itself lately!...
funny...it use to destroy the price, now a mere 30cents...to bad for you Mr. Diamond, your so fucked.....no where to run...
your boy
Sheldan Nidle
Don't you wish you were in Banks and the main markets. With all the European stuff going on the European markets are at 8 month highs and the Dow has broken 13000 and we are nearly back to our crisis level.
Gold is the only one at a higher high. Not even the pathetic miners will be going.
Those things that really needed QE are the ones performing best today - like the banks.
all this tinfoil hat stuff is for the little guys - the bloggers.
"Those things that really needed QE are the ones performing best today - like the banks."
No one needs QE. What we need is a new sound and honest money system. Not this BS counterfeit 'Dollar' that's been forced upon the people by the bankers.
They're still going at it hammer and tongs!!
Interesting Forbes article "seemingly" contradicts itself, saying speculation positions dropped on silver (last week), but price is resilient.
One possibility is that a transformation is taking place. PAPER speculation is dropping, while PHYSICAL accumulation is gaining.
http://www.forbes.com/sites/kitconews/2012/03/12/speculators-slash-gold-silver-futures-options-positions-cftc/
"Even though speculative positions dropped significantly, she said, prices didn’t fall as much. “That prices have been more resilient, falling only 7% despite a 23% decline in positioning, is encouraging, considering that the most recent selloff of similar magnitude – the 21% contraction in the Comex gold book back in September – resulted in a considerably larger 20% drop in the price of gold. Nevertheless, we maintain some degree of caution at this stage,” Tully said."
but u people say any thing the bankster have guns in their hands either way they can take money out us either through market manipulation or through gun point
Here come the trolls again!!! We knew they were coming out. Just be patient. Keep buying physical. Our time will come. Don't forget, money printing is in secret now!
these low prices will help emerging markets very good jamie you will kill yourself with your own knife
I called this yesterday...it smelled like the perfect raid and hilsenrath telegraphed the ever living shit out of this move...beat the metals before qe3
Good call Daniel. I posted to AGXIIK yesterday this was coming but to stack hardily when it does. Watch for Portugal and Spain to ask for the same treatment Greece received. They'll have to print to accommodate the PIIGS. The smack-downs aren't very effective these days. The price will rise soon enough. I think silver is still leading the market this year or very close o the top. Still, it doesn't matter 'cause the preservation is what counts.
Happy Stacking,
2 OZ.
Yum yum cheap RCM Cougars...feed me Jamie, feed me.
Doc, you think its a coincidence that the trolls always come when you talk about the paper getting dumped on the markets after the ChairSatan opens his mouth?
Cui Bono?
http://theeconomiccollapseblog.com/archives/the-federal-reserve-plans-to-identify-key-bloggers-and-monitor-billions-of-conversations-about-the-fed-on-facebook-twitter-forums-and-blogs
Damn, my fiat stack is miniscule after buying the last beatdown. Oh well, if it goes down I buy more, if it goes up... it's a win win :-)
Silverstax
i was at tilted kilt a local softcore titty bar for lunch as they raided silver. then a hot chick with her tits popping out asked me about ron paul. it was quite awsome.
- runlevel
I wonder why the big boys on our side don't let the price plummet by several dollars, then buy it back up to strength immediately - that would bury the shorts much deeper, wouldn't it? They would sell millions of oz at $28 (if they stick it out there at market), then when the raid is over - buy it right back up even higher.
I don't understand futures, so I guess there's a reason.
and run level, I hope you invited her back to your place to show her your silver porn.
tell me that you made a convert of the dear young thing. just be gentle, silver newbies need TLC
"then a hot chick with her tits popping out asked me about ron paul. it was quite awsome."
I bet it was! Now... were you tongue-tied? ;-)
Another example of institutionalized criminality by TPTB. The sweet part is it failed big time. They are learning about exponential math, and it's a be-atch.
It will take larger and larger amounts of shorting paper silver each time they do a raid, and the effects, time and price movement, of each raid will wear off quicker with each raid. The clown show is about to get a rude awakening with maximum potential. It's why Empires fail.
The trolls just show you the lengths that the Banksters will go... Bottom line, money printing (QE)is the last refuge of failed economic empires. Whether the printing is overt or covert (as it is now), does not matter. History verifies these facts. When you have those occasional doubts, study the work of Mike Maloney.
Pay attention to the gold and silver charts today. Gold took a 1.7% hit, while silver was only off by 1.1%.
Almost always in the past, silver's move down is amplified vs gold, but today the strength of silver was quite clear. The relentless demand for physical silver is overwhelming the paper silver market.
Silver, the common man's money throughout history, is re-asserting itself as real money again. It's rise cannot be stopped.
The Cartel's move seem to have less and less relevance moving forward. However, the paper pushers deserve to get wiped out in my opinion...you're playing in a rigged casino so you deserve to get burned. You're part of the problem. Go physical.
I have posted this before: Look for a head-n-shoulders reversal pattern at around $30. Remember, these corrections take time to work through.
All for them kicking the can down the road.
My game is Acquire and Accumulate.
Availability is not an issue--yet.
Lower the price the better.
Be fun to get to the place where I needed to wonder how to store it all.
Yep. Keep kicking the can....
4oz
Anonymous 4:16 good call. The disinformation propagandists are getting easier to spot.
Sherrie Questioning All seems to get more disinformation shills on her silver/banker/FED posts.
Don't let anyone else tell you what to do or think, do your own research.
MrG
+1
8 OZ
Someone said that TPTB, DHS Fed etc are listening to Silver Doctors. So Ben, if you are listening, we are too. And we take notes. Keep a tally. And there will come a time of retribution
Who cares what the bankers do. So what if the paper market is up over 13,000. It's still paper. It's rigged. It's a game for the rich to win and the regular cats to lose. Look at MF Global and how much they stole from hard working Americans. It's a shame and a big scam. But no they don't want to talk about that. They want to talk about politics and who will be the next bankster puppet president for the rich and big corporate greed. We stack Phyzz because it is real money and all the fundamentals behind it. Keep buying the dips. Steady as she goes. The dollar will not last. Paper never has. Not once. Fact.
Tell ya another thing: 'specially if your reading this Ben.
Please keep the price of silver down. You can take it way, way down. That'd be just fine.
Almost crapped myself last April when spot was $45 and my LCS wanted $7.50 premium on each unit.
OMG I don't want to pay that again for a long, long , long-long time.
We got it good now, and if it goes lower it'll even be better!
4oz
Smells like another options week ambush...
raids are having less affect on the price, it's just noise, we are the few(.1%) and will be the last man standing.
-hotsaucze
The lizard people are relentless.
-Tox
gold can't even hold on to 200days MA, as I am typing now only 1671, looks like the last defend is fast breaking before even Friday (option expiry). Chart doesn't looks good.
Two thoughts come up on this that relate to the last knock down in PM price.
First.
Ted Butler estimated that the two dozen or so PM short sellers, large and small, made about $500 million in the trades when silver got hit.
They are wringing money out of that market and probably plan to continue working those trades so long as they are profitable.
Legalities are not considered in this equation since no one cares about the law at this time. They are in it for a quick buck and the public be damned. They also know they will never be punished for their illegal activities. Corzine will get off scott free.
Second
Warren Pollack and Ann Barnhardt had a long video about the utter corruption in this system. The next downleg of the brokerage system was taken when MFB got caught.
All brokerages are corrupted by hypothecation and rehypothecation. They are addicted to this game of using customer money to amplify profits. Total stock trading volume plus many of the other profit centers are off by 25-30%.
The traditional profitability of the brokerage houses are being affected such that some houses are turning to brazen customer theft.
Warren and Ann are warning us to get away from the paper markets and brokerages, particularly the large banks, just given a pass by Uncle Ben yesterday.
They are on a path of self sustained destruction. The best we can do to help ourslves is exit those firms that use our money this way.
As unscientific as it seems, we don't need to use complex math to figure out the physical market. It's a no brainer. The Crimex makes our decisions easy. We accumulate PMs steadily based on our budgets and the availability. We close out brokerage accounts that serve no one but the broker itself, such as Fidelity, TD Ameritrade, ETrade.
This action is as powerful as it is unscientific. It's like cleaning out the swamp. It takes time, sweat and perseverance. But it has to be cleaned nonetheless.
Hundreds of billions of dollars and Euros are being taken from personal and company accounts into safe havens. The people who are aware, like Silver Doctor readers, remove themselves from harm's way.
When do you do this?
That is a very personal question but ask yourself this one.
It is better to be 1 year early than 1 day late?
Bank failures take place in the blink of an eye. I have seen hundreds of banks taken over in my 32 years in the lending business.
When a bank fails you want to be as far away from it as you can. Today, FDIC has ZERO money to back claims for account protection. SIPC has $1 billion to back trillions in account funds.
If your brokerage fails for no other reason that plain incompetence, forget outright theivery, how long before you get your money back? Weeks? Months? Never? Adjust your plans accordingly.
You accomplish two goals. Self protection and helping to kill the beast that preys on us.
Smells like another options week ambush...
4oz. don't worry PMs will stay low. I can't believe you guys still think PMs are the investment to be in. What on earth ids it going to take to convince you that they have had their run? Why doesn't anyone listen?
We don't listen because you don't understand ANON 11:01. Silver is not an investment as you say. It's preservation. These people here have other investments as well as PM's. I agree with 4 OZ. Take it down til I can get 4 for a $100.00.
Now, look, listen and learn and you may just get through the tough times. Oh yeah, most of the central banks are buying PM's as fast as they can. Why? Because they understand.
2 OZ.
2Oz:
These people aren't going to listen until it is well too late. Reminds of the morons that bought into the dotcom bubble and then bought back in after the first drop believing what the BS merchants were selling that it presented an excellent buying opportunity (while they were busily selling all they had as fast as they could) - the vast majority of their darling picks didn't have a product to sell!
2oz "they bought back in after the first drop", doesn't that remind you of people chasing PMs every time they go lower? Mind you they seem unable to get back up. Silver is not an investment? Preservation of capital? Let me see if I buy silver at $35.00 and it goes to $30.00 and stays there how much have I preserved? Of course the argument will be that in 50 years it will be up. What a joke? You guys really don't have a clue do you?
Central banks buying PMs like mad, so price goes down? 2oz what planet are you on?
Let me see. So the concept of massive naked shorting in both gold and silver markets in the past 2 weeks does not compute in your value calculations?
I hope you're being well paid for your work in sites like this because you won't have stock assets to rely on very soon now.
Aaah I get it. Who has been right for the past month? Gosh it was me. Wait till next week I predict $24.00 silver.
Anon 12:42. I want it to go to $1 an oz. I would buy 20,000oz in a heart beat. $24 would only be 833oz and thats not enough.
This is fun. I get to laugh all afternoon. I lured you trolls right into that conversation. One paper dollar or one silver dollar. Which is worth more? Which will be worth more next year or in ten years? Silver dollar. Gotta love it. Will still buy several gallons of gas when the fiat will take ten to buy one gallon.
LOL
2 OZ.
2oz. Some people will believe anything. Everything has its time and the time has come to bail out of PMs. I'm laughing too, because I cannot believe that you actually believe what you just wrote. Hilarious stuff.
Hee Hee! Go home now. Mama's calling.
2 OZ.
"If you don't hold it, you don't own it"... Ponce
Do you think that they are wrong for getting rid of their paper silver?
Only physical silver, in your hands, will save the day.......................Ponce
I'm holding it and I wish i wasnt. Could have got out at $45.00. Kept listening to all the stackers. Man, what a mistake!
u are that kind of guy who sell me that silver @ a cheaper level and maybe i will gave it back @ $45
Lol
Throwing in the towel said...
"I'm holding it and I wish i wasnt. Could have got out at $45.00. Kept listening to all the stackers. Man, what a mistake!
March 14, 2012 3:10 PM"
WHAT A COMPLETE MORON! But, hey, listen up, all you stackers - that just means MORE FOR YOU!
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