Dang! Now That’s An Impressive Silver Beatdown!! But Don’t Call It Desperation
Dang! Now That’s An Impressive Silver Beatdown!! But Don’t Call It Desperation by Rory for The Daily Coin
UPDATED 8:04 am EDT
I had to get these charts added to this story as the beatings have continued for the past two hours. It seems that someone in the gold and silver space is really mad at gold and silver, otherwise, they wouldn’t beat them like what’s been happening for the past six hours nonstop.
If you compare the above charts to the one just below – WOW!! What a beating since I went to refill my coffee!! These people could benefit from “anger management” therapy.
That means if you use the intraday high mark from February 20 of $18.34 all the down – so far – to the intraday low of approximately $11.90 that’s more than $6 dollar move to the downside!!
This is to say nothing of the $70 downside beating that gold has received this morning. Too bad the premiums will never allow us to take advantage of these low chart movements.
End of update
When I looked at the charts for the first time this morning, just after 5am CDT, I thought I was still sleeping and not seeing properly. Then I clicked the silver chart and this is is what I found.
All charts courtesy of KitCo
That silver chart, with almost a $2 beating from the Friday close is super ugly. Just remember this is exactly what we have seen in the past. The banking cabal is pushing the price as low as possible because they know people are flooding the market and with the massive change, panic announcement by Fed Chairman Jerome Powell on Sunday, the banking cabal know this demand is going to last a while.
This next chart is from March 6, a mere ten days ago, showing the current low hit in silver represents approximately $5.50 per ounce drop during that ten days – 0.65$ a day, everyday on average!!! But don’t call it desperation!
If we go back to February 20, a mere 24 days ago (16 trading sessions), we find another $1.20 per ounce has been cleaned out while we slept. The only remaining question is who long can these satanic globalist keep the price in check? Let’s ask JPMorgan – Mr. JP, can you deploy 30,000 silver contracts? Yes. Each contract is for 5,000 ounces of silver, is that correct? Yes. So, you can launch 150,000,000 ounces of silver at the COMEX silver price at any time. Yes. Can you cover that volume of silver from the JPMorgan COMEX silver vault? Yes. Who else can challenge that volume? *crickets*
While silver is getting hammered on the charts, it is selling out across the land. American Silver Eagles are sold out at the U.S. Mint, bullion dealers are reporting best sales days in history and after a quick check at SDBullion, JMBullion, APMEX and Bullion Exchanges premiums are blasting into the stratosphere. If you look eBay you will find generic silver rounds posted at $20+ with an average price point of approximately $21 per ounce. Fractional silver on eBay is as much as $28 per ounce.
So, while the chart is ugly, the physical is worse – if you’re looking to add to your stack. If you’re looking to start a new stack I explained it this way to someone I know and love. I was explaining to her the difference in her starting a new stack and me adding to my position. These are two completely different situations.
I’m saying these things to let you know that, while premiums are currently high – they are high for the position I’m in. You, on the other hand, are looking to protect your wealth and you have almost zero insurance. If you were standing in front of your burning house and you had almost zero insurance, and someone was offering you fire insurance at a slightly elevated price would you get the insurance? This is the real question and this is where you stand, this is not where I stand. I have the luxury of standing by and telling the insurance salesman that I’m comfortable with the policy I have in hand. I may increase my insurance in the near future but in the mean time – let it burn.
Sometimes we don’t have the luxury to “let it burn” and must make a move in order to protect ourselves. Is this one of those times? Maybe. Can someone afford to wait another month to allow everything to settle down? What’s going to happen during that month? We know the cabal is in a position they are unfamiliar with President Trump, President Bolsonaro, Salvini over in Italy, Prime Minister Boris Johnson, several NATO “Allies” pushing back against the flood of border jumpers, Russia aligning with Saudi Arabia and unleashing super cheap oil that is going to crush the shale industry here in the U.S. and the list goes on with the big issues seemingly on shaky ground the world over. Make no mistake about it, all of these items play a part in what’s happening on the charts above. So, again, can a person wait another month for the situation to change? What will that change look like? If you don’t believe things can turn ugly in a month look at the high on the bottom silver chart and the low on the top silver chart and let me know what you find. Got physical, close at hand?