Silver futures are +3.5% to $27.795 this morning after plunging 7.1% yesterday on record volume...


Silver futures are +3.5% to $27.795 this morning after plunging 7.1% yesterday on record volume to $26.87. Tighter margin requirements for silver futures prompted yesterday's fall, and market chatter suggests gold may be next.

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Comments (9)
  • Barry Crocker
    , contributor
    Comments (450) | Send Message
     
    Ridiculous
    11 Nov 2010, 07:44 AM Reply Like
  • Stepman
    , contributor
    Comments (17) | Send Message
     
    Hold your $ilver and gold. The uptrend is still intact and we haven't seen anything yet.
    11 Nov 2010, 07:51 AM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
     
    I literally don't understand the psychology of all this.

     

    If the entire point of QE2 is trying to jumpstart the economy by jumpstarting the Market, one of the two major sources of widespread middle class confidence - the other being home prices - why would ANYONE of either Party who cares about this country want to spoil the plan before it's been given a chance to work?

     

    And the best way to spoil it, as should be clear to everyone now, is to go right back to the Dollar, Dollar, Dollar mantra, which helps nobody except the Chinese government and a handful of already obscenely wealthy Oligarchs and hedge fund managers.

     

    What Gold has been doing is providing an essential bridge between the now-impossible concept of measuring the world's commodities - and therefore the world's resources - against Emperor Dollar and measuring them more fairly and equitably via neutral currency baskets, which are fast arriving now - and SHOULD.

     

    This new World Currency Regime, which cannot be stopped and should not be stopped, will ultimately be very good for average Americans, for average Chinese, and for the entire planet, other than a few stubborn DOGs who are letting their neverending greed and malice get in the way of real progress towards a fairer Market playing field and a much more benign World economy.

     

    As the ultimate neutral, stateless currency, Gold should be not only allowed, but encouraged, to rise - at long last - to its inflation-adjusted fair price, which almost everyone believes is about $2400.

     

    The CME's actions are fine, if they impede the spread of dastardly double, triple, quadruple ETFs, pure gambling instruments that serve NO purpose other than encouraging unnecessary volatility.

     

    But they should not be used as an excuse for one more bleeping of long-time Gold investors - or commodity complex investors in general - who have suffered from decades of pure game-playing whenever the Big Boyz decide they want to steal from everybody else.
    11 Nov 2010, 08:00 AM Reply Like
  • lower98th
    , contributor
    Comments (1411) | Send Message
     
    It would be one thing if QE2 was part of a movement to allow the market to expand hand in hand with the correction of fraud and imbalances in the financial system. As it is, it just looks like one more con game - a dirty trick to further impoverish the 80% plus of Americans whose participation in the stock market is too limited to offset the inflationary harm.
    11 Nov 2010, 08:11 AM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
     
    Lower,

     

    I believe your figures are exactly 180 degrees from accurate. 80 percent of "middle class" Americans - i.e. the "middle" 98 percent of the population - participate in the Market in some way, through IRAs or other forms, if not as active traders. Possibly more than 80 percent, in fact, depending on your definition of how people are defined in terms of what "household" they are part of.

     

    Most people feel confident or not confident about the economy and their own wealth based on home prices - which are finally picking up, but not fast enough - and their investments.

     

    This is especially true of most Baby Boomers, 46-64 in 2010 and about one-third of the US population.

     

    Both Ben Bernanke and Tim Geithner are Boomers, by the way, as is President Obama, John Boehner, and the vast majority of members of Congress.

     

    So I think they understand this dynamic, in one way or another.
    11 Nov 2010, 09:27 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    "Both Ben Bernanke and Tim Geithner are Boomers, by the way, as is President Obama, John Boehner, and the vast majority of members of Congress."

     

    Unfortunately for us, they are able to insulate themselves from the 'dynamic'.
    11 Nov 2010, 12:02 PM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
     
    Texan,

     

    No, I don't think so.

     

    And I'm actually very Bullish on our generation, as well as the brand-new currency regime that's coming.

     

    Boomers are fabulous activists when we want to be. And I believe we are overwhelmingly Centrists, who understand that both ends of the political spectrum have made egregious mistakes.

     

    The next decade will be better for us than the past one has been - and we just might reshape America in the process.
    11 Nov 2010, 05:35 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    More power to you. I pray you're right for my grandkids sake.
    11 Nov 2010, 05:42 PM Reply Like
  • Teemoney
    , contributor
    Comments (19) | Send Message
     
    "And the best way to spoil it, as should be clear to everyone now, is to go right back to the Dollar, Dollar, Dollar mantra, which helps nobody except the Chinese government and a handful of already obscenely wealthy Oligarchs and hedge fund managers."

     

    Exactly, but that's what an asset swap of fed reserves with bank treasuries is intended to do.(ie. QE2.) I don't think people realize how bad the situation with banks currently is. They have to show some income on their balance sheets come Q1 2011.
    11 Nov 2010, 11:47 PM Reply Like
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