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Silver Market Updates

150,000 Cigarettes or 3,275 ounces of Silver

June 18, 2015
By SilverSeek

When silver sells for $100 per ounce will cigarettes sell for $40 per pack? This isn’t as outrageous as it sounds. I remember buying Marlboros for 19 cents per pack back in ancient times. Cigarettes are about 35 times as expensive now as in my youth. The current price is $6.50 for a pack, and 35 times that price would be about $225 per pack. Outrageous! The loss of purchasing power in fiat currencies is also outrageous.

Silver Market Morning

June 17, 2015
By SilverSeek

New York closed at $1,181.70 down $4.50. Today sees the dollar almost unchanged at $1.1263 with the dollar index almost unchanged at 94.90 down from 94.97. The LBMA Gold Price was set at $1,178.50 down $3.60 with the equivalent euro price at €1,045.60 down €4.64. Ahead of New York’s opening, gold was trading in London at $1,179.50 and in the euro at €1,045.84.

Gold Versus The Status Quo

June 16, 2015
By SilverSeek

Gold has been a store of value for 1000s of years. You can’t purchase gasoline with gold but it has no counter-party risk and is valued world-wide. In contrast, paper and digital dollars, euros, pounds and yen are debt based fiat currencies backed only by the faith and credit of the governments and central banks which issued them. Devaluation and higher consumer prices are all but guaranteed.

Silver Market Morning

June 16, 2015
By SilverSeek

New York closed at $1,186.20 up $5.20. Today sees the dollar weaker at $1.1265 down half a cent with the dollar index weaker at 94.97 down from 95.28. The LBMA Gold Price was set at $1,182.10 up $3.85 with the equivalent euro price at €1,050.24 down €3.74. Ahead of New York’s opening, gold was trading in London at $1,183.50 and in the euro at €1,051.11.

Comex Paper Silver: New Record Naked Short Interest

June 15, 2015
By SilverSeek

I need to make a slight correction to Craig’s analysis. 2014 silver production is already used up. 70% of all silver produced is used up in manufacturing processes. The other 30% produced in 2014 is sitting in jewelry boxes across India and China or in fabricated bullion form in private investment hands around the globe.

Silver Market Morning

June 15, 2015
By SilverSeek

New York closed at $1,181.00 down $0.50. Today sees the dollar weaker at $1.1215 down from $1.1189 a quarter of a cent weaker against the euro with the dollar index weaker at 95.28 down from 95.40. The LBMA Gold Price was set at $1,178.25 down $1.00 with the equivalent euro price at €1,053.98 up €6.18. Ahead of New York’s opening, gold was trading in London at $1,181.50 and in the euro at €1,051.58.

Silver Lows and Bubble Bonds

June 12, 2015
By SilverSeek

T bonds have been levitated higher as central banks aggressively pushed their “Inflate or Die” QE process. Examine this log scale chart of monthly T bonds since 1985. I have drawn a red line that more or less connects the most significant tops in the past 30 years.

Silver Manipulation May Be The Most Extreme In History

June 12, 2015
By SilverSeek

The open interest in Comex silver hit another new all-time high yesterday. As of Wednesday’s final open interest report, the open interest in silver was 189.7k contracts. This is the highest the open interest has been based on data I have going back to April 2005.

Here We Go Again -- Another Silver Short Sqeeze Looms

June 12, 2015
By SilverSeek

Back on April 15, we accurately projected that a major Spec short squeeze was brewing in the coming days. Nine days later, silver shot higher in a move of +14% in just over three weeks. Well, guess what. The conditions that created that move have returned and another significant short squeeze is right around the corner.

The fallacies of GDP

June 12, 2015
By SilverSeek

The common error of confusing growth with progress goes largely unnoticed, though it permeates all macroeconomic analysis. There is no better example of this mistake than the fallacies behind the interpretation of Gross Domestic Product (GDP). GDP is the market value of all final goods and services in a given year. As such, it is only an accounting identity reflecting the quantity of money in the economy.

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