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Silver just fell like a rock!!!!!!!

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posted on Sep, 26 2011 @ 08:38 AM
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Okay this morning I was just looking around the internet checking my news sites to see if anthing happened while I was sleeping. And one of the last sites I check is monex.com. Its a site to buy or sell precious metals as well as get live price charts. Below is the link to their silver chart. And to suprise this morning when I checked it out
$28.50!!

Current Silver chart

Wow, just wow. Why in the world has it, along with the other precious metals, just all of a sudden dropped like a stone?! The last time precious metals took a plunge like this was back on May 1st. Does anyone else remember what happened on May 1st. A little known guy was found and killed Osama Bin Laden.
Also If I remember correctly the fed dumped a ton of gold and silver back onto the market.

So why do you guys think this latest crash has happened?

edit on 26-9-2011 by Talltexxxan because: (no reason given)




posted on Sep, 26 2011 @ 08:50 AM
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reply to post by Talltexxxan
 


The CME raised margins. It forces people out. Along with other things. Check out this story:
www.zerohedge.com...

edit to add: www.zerohedge.com...
edit on 26-9-2011 by liveandletlive because: (no reason given)



posted on Sep, 26 2011 @ 08:51 AM
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reply to post by Talltexxxan
 


The running theory is that the Euro zone banks are liquidating their holdings in an attempt to have cash in hand for the Greek default.



posted on Sep, 26 2011 @ 08:56 AM
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It is strange, you would think with the way the world is right now, and the current financial crisis, along with the mass amount of printing of the US dollar, precious metals would just keep going up, Looks like the people behind the closed doors have a New agenda. to make it look as though Silver and Gold have hit there high, and to sell, sell, sell, when in fact I would Hold on to it, for at least another year, or unless im wrong and it continues to drop, then of course sell.



posted on Sep, 26 2011 @ 08:56 AM
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Originally posted by liveandletlive
reply to post by Talltexxxan
 


The CME raised margins. It forces people out. Along with other things. Check out this story:
www.zerohedge.com...

edit to add: www.zerohedge.com...
edit on 26-9-2011 by liveandletlive because: (no reason given)


This was from a few days ago but margin hike none the less. This new one came overnight from cme's shanghai equivalent.

www.sge.sh...

You'll need to translate or just read ZH's newer article.
They raised the margin 20%.



posted on Sep, 26 2011 @ 08:58 AM
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Silver is on sale right now thanks to paper and electronic manipulation.

Back your trucks up for the physical metal while the sale lasts.



posted on Sep, 26 2011 @ 08:59 AM
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Originally posted by ludshed

Originally posted by liveandletlive
reply to post by Talltexxxan
 


The CME raised margins. It forces people out. Along with other things. Check out this story:
www.zerohedge.com...

edit to add: www.zerohedge.com...
edit on 26-9-2011 by liveandletlive because: (no reason given)


This was from a few days ago but margin hike none the less. This new one came overnight from cme's shanghai equivalent.

www.sge.sh...

You'll need to translate or just read ZH's newer article.
They raised the margin 20%.


Thats the second article I added. Something interesting in the article.

"There was a second announcement, slightly more cryptic one, noting that if volatility were to persist, the SGE would outright halt silver trading (although the Google Translation of this previously unseen form announcement is a little sketchy). Expect to see more exchange intervention in precious metals today. Regardless, those who bought silver 15% lower a whopping, oh, two hours ago, courtesy of the out and out sheer panic, are quite grateful to the Chinese."

edit on 26-9-2011 by liveandletlive because: (no reason given)



posted on Sep, 26 2011 @ 09:02 AM
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reply to post by XplanetX
 


I wonder if "Berkshire Hathaway" is buying back shares this morni ng with "Silver" could be a steal of a deal....



posted on Sep, 26 2011 @ 09:03 AM
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Originally posted by XplanetX
Silver is on sale right now thanks to paper and electronic manipulation.

Back your trucks up for the physical metal while the sale lasts.


I am still patiently waiting for the %50 off super sale to begin. When it breaks below $26, there isn't much stopping it all the way down to $16, and that is where I will pile it on!



posted on Sep, 26 2011 @ 09:03 AM
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I've been saying for over a year now, that [snip] is going to start getting crazy at the end of september and follow the same course through October of this year. I told my family and friends watch out for the end of October- November. This is nuts. I sold 10oz's of my silver the day before it dropped, while it was still above $40/oz. I dont know why, but somthing told me to sell sell sell on that date. I cant explain it.


Hold on to your hats fellas, its gonna be a wild ride.

edit on 26-9-2011 by Talltexxxan because: (no reason given)



posted on Sep, 26 2011 @ 09:05 AM
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Thanks alot Fed.
Here is the reason why.




Operation Twist Halts the Silver Bull Market

Sep 26, 2011 08:16:54 (ET)

NEW YORK, NY, Sep 26, 2011 (MARKETWIRE via COMTEX) -- The Paragon Report examines investing opportunities in the Silver Industry and provides equity research on iShares Silver Trust (SLV, Trade ) and Silvercorp Metals, Inc. (SVM, Trade ). Access to the full company reports can be found at:

www.paragonreport.com/SLV

www.paragonreport.com/SVM

Silver stocks took a sizeable hit following the Federal Reserve's "Operation Twist" announcement. The theory behind 'Operation Twist' is quite different than the quantitative easing measures that supported the monumental run of precious metals prices. In the aftermath of the announcement, the US Dollar shot up. Precious metals prices tend to move inversely to price of the dollar, as they lose their "safe haven" appeal.

Silver is not only a precious metal. According to the Silver Institute more than 50 percent of Silver's use is industrial. Silver can be used for batteries, brazing and soldering, bearings and high-end electronics and is also used in cutting edge solar technology. With the global economy teetering on the brink of a double dip recession, manufacturing use for silver may come down.

The Paragon Report provide investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the silver industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.

Silvercorp Metals has garnered significant attention this month. The Rosen Law Firm, P.A. announced that it is investigating potential securities fraud claims against Silvercorp Metals resulting from allegations that the Company may have issued materially inaccurate financial statements to the investing public between June 8, 2009 and September 13, 2011. Silvercorp vehemently refutes any substance in the allegations. After the stock took a sizeable hit, the Company said last week that its shares are undervalued and that it is pushing ahead with its share repurchase plan.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at www.paragonreport.com...

SOURCE: Paragon Financial Limited [\quote]



posted on Sep, 26 2011 @ 09:10 AM
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reply to post by Talltexxxan
 


A family member sold gold at $1,900.00 recently for the same reason. Hours after it began its decent.
Gold & silver will come back you can be sure. The fundamentals say the economy is in big trouble. The recent manipulation is part of the last gasp of a failing economy. Eventually they will all run from paper.



posted on Sep, 26 2011 @ 09:14 AM
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reply to post by liveandletlive
 


Agreed, I still have over 40 oz's and Im holding on to that like a teenage boy holds on to his ....well you know.



posted on Sep, 26 2011 @ 09:16 AM
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Time to buy. Watch, all the short term investors will freak and dump their silver in a panic and then it will adjust and go right back up and start rising.



posted on Sep, 26 2011 @ 09:21 AM
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Originally posted by SpaDe_

Originally posted by XplanetX
Silver is on sale right now thanks to paper and electronic manipulation.

Back your trucks up for the physical metal while the sale lasts.


I am still patiently waiting for the %50 off super sale to begin. When it breaks below $26, there isn't much stopping it all the way down to $16, and that is where I will pile it on!




If you can find people stupid enough to sell their physical silver for that price then you will be doing extremely well.

I think we are close to the bottom of this current dip. If they try to suppress the price too far then they will create too much demand for the physical metal, then the price will shoot off to the upside too fast.



posted on Sep, 26 2011 @ 09:27 AM
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reply to post by XplanetX
 


There is still plenty of physical to be had in the open market. If there does start to be a perceived shortage in the physical markets, you are right the price will jump back up faster than you can say WTF.



posted on Sep, 26 2011 @ 11:14 AM
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A possible explanation...

Shipwreck of SS Gairsoppa reveals £150m silver haul

With a bit of speculation and rumour, news of that could have caused a sell panic?



posted on Sep, 26 2011 @ 12:05 PM
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Looking at that graph, I see that silver had a similar drop back in May. What was the reason behind that drop, and could it be a similar reason this time?

I'm not too worried; the only silver I own is a handful of coins and a ring
For silver to drop that much that fast, though, there's got to be something behind it; it's not just normal market fluctuations. The cynic in me wonders if something akin to insider trading is going down, but I don't know if that's even possible to orchestrate on something as widely traded as silver.



posted on Sep, 26 2011 @ 12:55 PM
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reply to post by neformore
 


While a great find, I see it more so being affected by the always pleasant Fed Govt influence.



posted on Sep, 26 2011 @ 01:24 PM
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Originally posted by DragonsDemesne
Looking at that graph, I see that silver had a similar drop back in May. What was the reason behind that drop, and could it be a similar reason this time?

I'm not too worried; the only silver I own is a handful of coins and a ring
For silver to drop that much that fast, though, there's got to be something behind it; it's not just normal market fluctuations. The cynic in me wonders if something akin to insider trading is going down, but I don't know if that's even possible to orchestrate on something as widely traded as silver.


Read my Origanal Post. May 1st is when we announced that the US captured Bin Laden.
But that was just a destraction. I need to find the link, but the US unloaded a ton of Gold and Silver onto the market. So there for the price plunged. Frickin market manipulation. tisk tisk tisk



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