Another Norcini Article blowing the minds of perma Bulls

[Pirocco]

Hi missinglink and pirocco, the 'scums' are the bankers from Goldman Sachs who pushed their clients into worthless cdo's knowing full well they're worthless and shorting it at the same time. That's FRAUD and DECEIT. Again using Eric Sprott as an example, he has 80% of his assets invested in precious metals. He does what he preaches. I think he, and other 'permabulls' genuinely believe precious metals are going higher, and offer their opinion and insights base on what they believe. Sure in hindsight they've been wrong the past couple of years, but that's not deceit. And the 'trend' is only apparent after the fact. If it was that easy to 'predict' the future dan norcini would be a billionaire. And again I think it's human nature to blame others when things go wrong, rather than taking responsibilities for their own actions. So no missinglink I still don't 'get it'.

I define 'scum' as people that try to get other peoples products and services with nothing in return.
I don't really care what their name or title is.
How does one know if people really say what they think? As said, simple: look at what they do. If data shows that they sit ready to buy or sell, but their mouth spits out different, then the conclusion is clear.
Also, just look at the repetitive same misleading methods. A prime one is comparing a daily trading volume with an amount produced/mined/whatever, alike a silver bar can only be sold once a day. Another one is summing up things (alike loans) regardless their term. It's just impossible that they are so stupid that they actually believe this bullshit themselves. Yet, they keep repeating / reusing it, over and over again, and their crap is everytime spreaded all over the precious metal dealer scene. It doesn't matter whether their name is Eric Sprott or Goldman Sachs.
Most of it is deceit. How does one know? Very simple: look at the high red and green candlesticks on the price chart. These just prove it. A price does nothing, it's people trading that move the price. Your hindsight isn't looking back at prices, it's looking back at ACTIONS. Compare these with their words, and you know that they were lying.
The Dan Norcini's in the world talk uptrends up and downtrends down, and act the opposite of what they suggest others to do. Because they want cheapskate sellers and expensive buyers.
Yesterday I came across an investment article that complained about lack of price volatility in its branch. Says it all. Their profit needs error. Price volatility is error. Your Goldman Sachs may well be among the biggest scums. But what's the difference between 1 times 100 kg crap and 100 times 1 kg crap?

 

[Pirocco]

About stacking, I decided to give it another week (read: end of this week). My current goal is to buy 500 euro per kilo silver, it's now 520.
I think that we have a couple weeks to snag out such a moment, before we get a new cycle and the next occasion (and maybe lower) end this year.
Weight of this decision: 5 lunar kilohorses. I was tempted to buy today, but the euro price is just barely lower than the previous cycle. I learnt to have patience. And as always: if I see reason to decide different, I'll just do so. So far I didn't skip any of those 3 months cycle bottoms in recent years. The price was much higher in the beginning, but the lower the price goes, the less reason there is to skip. As said before: better to buy all the way down than all the way up.
On the multiyear term, I foresee enough sideways to not be in a hurry. But we have these 3 months cycles so that's just 4 occasions per year to add at that sideways/bottom. So I don't easily give these away and neither this one.

 

[alor]

http://i.imgur.com/apfhTcM.png

make sure you put in your bottom DOLLARS in there too real big bargains!!! prices are here, for so long as you soon run out of cash. buy the crash. yeepee....

 

[Ghost Story]

I think it gets a bit complicated , there really are only 2 questions I need to ask myself buy or not to buy its the KISS theory keep it simple smarty

 

[Pirocco]

Well that last drop did it for me, placed order for 4 kilocoins + 3 x 10 oz (Lunar Horse). Missed the lowest though, could have had the kilo's 4 euro less each. Dollar spot $17 was my target price.
And there went my euro's again.
The kilocoins costed me each 25 euro's less than previous time.
A thumb-rule is that 70 Moz can be bought / sold in a price dollar.
Selling 70 Moz more or buying 70 Moz less = -1 dollar.
Selling 70 Moz less or buying 70 Moz more = +1 dollar.
I now snagged 160 oz of the $17.xx 70,000,000 oz.
437500 people can do the same there.
Numbers and numbers!

 

[Pirocco]

My dealer just increased his premium. Spot 30 cents lower than I ordered, price kilocoin same.
Just shows, one has to be able to catch the first occurrence of a new low.

 

[dccpa]

you Keep telling people not to buy,

and I will keep buying.

all the way to $1

end of story.

Wow, how many times can you be wrong in one day??? I never told anyone not to buy....you make that up out of whole cloth just like you do everything else you claim about precious metals. You gotta stop listening to those imaginary voices in your head. You made all sorts of spurious accusations against Barsenault and other American's and you still continue. Sounds like a bad case of insecurity or jealousy on your part.

I don't care that you are buying or not now.....that's never been my concern. The fact that you still can not understand something as simple as this shows me exactly how unreliable your insistence and assertions are.

Seriously, heed your wife's advice....it's the only way you've ever made sense when confronting the realities of the market that you choose to willingly ignore.
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We may owe valuedestroyer an apology. When he said higher highs and higher lows, we were thinking Northern hemisphere. For them, everything is upside down. When he says higher highs and higher lows, for us it translates to lower highs and lower lows. :lol:

This is going to be so much fun.

 

[mmissinglink]

I'm not backing the truck up till $14 USD/oz which is what I was shooting for 2 years ago....looks like I may be vindicated by no later than the end of the year and the permabulls will have to eat my dirt again!

(It doesn't mean I haven't bought a single pm product....just that there's better times to pull the trigger than not and permabulls have gotten it wrong so many times)



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[clear]

I'm not backing the truck up till $14 USD/oz which is what I was shooting for 2 years ago....looks like I may be vindicated by no later than the end of the year and the permabulls will have to eat my dirt again!

(It doesn't mean I haven't bought a single pm product....just that there's better times to pull the trigger than not and permabulls have gotten it wrong so many times)



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good for you dude, just tells us once you have finished loading the trucks, so we can get in on some of the action.

 

[nsw2206]

I'm not backing the truck up till $14 USD/oz which is what I was shooting for 2 years ago....looks like I may be vindicated by no later than the end of the year and the permabulls will have to eat my dirt again!

(It doesn't mean I haven't bought a single pm product....just that there's better times to pull the trigger than not and permabulls have gotten it wrong so many times)



.

Yeah let us know. The price drop after you buy in will be spectacular.
Thanks.

 

[SpacePete]

I'm not backing the truck up till $14 USD/oz which is what I was shooting for 2 years ago....looks like I may be vindicated by no later than the end of the year and the permabulls will have to eat my dirt again!

(It doesn't mean I haven't bought a single pm product....just that there's better times to pull the trigger than not and permabulls have gotten it wrong so many times)

.

Did you end up backing up the truck?

 

[Oldsoul]

If gold is a bad purchase and destined for decline why is China buying it in such prodigious quantities? Are they stupid? Or Russia for that matter?

Who says the Chinese central bank is?

BS artists that's who. The Chinese public are enjoying not being peasants and buying bling and storing some wealth in PMs because they have the same fear and distrust of their government and economic 'boom' as sane people in other countries do. The remainder is exported as cheap bling.


I'm acquiring gold on opportunity if less than spot at seasonal lows. Silver...no only if I see something more as a collector hobby like discount kilos, nice solid tea sets, really interesting old (over a 120 years old coins) being given away.

I have always loathed these pumper fantasies, in essence the story is always

a)Something dramatic may happen based on a fictional yarn
b)A small investment will end up giving you enough profit for a house.

If you think like that - you are in gold for the wrong reasons. We live in an era of rapidly accelerating capital gains tax, deposit rate interest tax, VAT, gift tax and inheritance tax. Physical gold is a hedge against that and those taxes effect you when it comes to storing wealth. Our friends in central banks keep the stuff as hedge against each other and ensure the price range reflects money supply.

For a different paradigm have you ever wondered why people pay tens of millions for blue chip art? It is not because they like pretty pictures. Why do you think hard core organised crime loves diamonds, gold, fine art and antiques? Thugs with aesthetics and a hatred of fiat because of looney tunes politics? No. Money laundering and tax evasion.

I truly believe the shtf/zombie apocalypse, global collapse, anti-western theme collapse, to the moon, political extremist loons BS has done nothing but discredit PMs and leave people unaware of the real reason to hold 10-20% of wealth in them. I'll tell you one thing for sure. There is a lot less 18K on sale to the average punter now then I have ever seen in my life. When I pass by retail jewellers (the kind of place stackers never ever buy anything from) I sometimes stop in and ask to see the 18K. These days they often don't have any except maybe some skinny engagement ring mount that they can order. Time was that half the stuff in a jewellers was above 9K, not any more!

 

[mmissinglink]

I'm not backing the truck up till $14 USD/oz which is what I was shooting for 2 years ago....looks like I may be vindicated by no later than the end of the year and the permabulls will have to eat my dirt again!

(It doesn't mean I haven't bought a single pm product....just that there's better times to pull the trigger than not and permabulls have gotten it wrong so many times)

.

Did you end up backing up the truck?

Not yet my friend...I'm still convinced we will see USD $14 before we see any major long term up trend. The fall of silver is not over yet.





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[-j-p-shmorgan]

I'm not backing the truck up till $14 USD/oz which is what I was shooting for 2 years ago....looks like I may be vindicated by no later than the end of the year and the permabulls will have to eat my dirt again!

(It doesn't mean I haven't bought a single pm product....just that there's better times to pull the trigger than not and permabulls have gotten it wrong so many times)

.

Did you end up backing up the truck?

Not yet my friend...I'm still convinced we will see USD $14 before we see any major long term up trend. The fall of silver is not over yet

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I agree...BUT with the DOJ probe into precious metals, I don't know how hard they'll be hammering it down further.

 

[mmissinglink]

Did you end up backing up the truck?

Not yet my friend...I'm still convinced we will see USD $14 before we see any major long term up trend. The fall of silver is not over yet

.

I agree...BUT with the DOJ probe into precious metals, I don't know how hard they'll be hammering it down further.

Over the past 3 years I've read / heard plenty of arguments by permabulls who have claimed that for this, that, and the other reason, the price of silver will be blasting off imminently. Of course, all of the permabull arguments have turned out to be loser arguments.

I don't think it's going to be any different with a DOJ probe. I might be wrong.

And I'm not saying that it isn't worth paying some attention to such arguments, just that they have thus far not supported the claims being attached to them ("silver to the moon" claims).

Also, if there is manipulation of the price by CB's which is the reason for the "price suppression", then that's even more the reason to believe that none of the arguments permabulls rally behind are arguments that have much meaning at all in terms of affecting the price of silver, ergo, even more of a reason to ignore those permabull "silver to the moon" arguments.



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[House]

You won't be wrong

 

[mmissinglink]

^ Thanks for the voice of support!




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[precious roar]

I'll tell you one thing for sure. There is a lot less 18K on sale to the average punter now then I have ever seen in my life. When I pass by retail jewellers (the kind of place stackers never ever buy anything from) I sometimes stop in and ask to see the 18K. These days they often don't have any except maybe some skinny engagement ring mount that they can order. Time was that half the stuff in a jewellers was above 9K, not any more!

Not in my area. Pretty much all 18K and 22K in the jewelers around here.

 

[Oldsoul]

I'll tell you one thing for sure. There is a lot less 18K on sale to the average punter now then I have ever seen in my life. When I pass by retail jewellers (the kind of place stackers never ever buy anything from) I sometimes stop in and ask to see the 18K. These days they often don't have any except maybe some skinny engagement ring mount that they can order. Time was that half the stuff in a jewellers was above 9K, not any more!

Not in my area. Pretty much all 18K and 22K in the jewelers around here.

I'm in Europe. The phenomena above has been evident for the last five years in multiple countries on the high street. Yes I know lots places that do trade better stuff but its not high street retail e.g. pawnbrokers, auction houses, antique dealers. I was unsure about the UK so I just checked UK Argos (major cheap jewellery seller) online and indeed out of Ladies' necklaces (378 products) nothing other than 9K is there.

Here is a random post I found from a blogger explaining what argos is

http://www.bobinoz.com/blog/9302/things-i-miss-about-the-uk-part-two/


I also had a look at what Pandora is doing (if you are not aware of Pandora it is a huge fashion jewellery brand retailing on high streets , airports - everywhere. They don't seem to have an 18K product.

As this is an Aussie site here is a link to them in Australia

http://www.pandora.net/en-au/explore/products/browse-by/color/by/metal/01

Nothing there either.

What I am particularly surprised at is that several of the retailers I am referring to in my original post were long established once 'proper' jewellers that have high rental locations, now all they have is 9K.

 

[tolly_67]

The fact is that a lot of retailers in Western countries have slowly realised that you can sell 9 carat gold ( which I refer to as junk jewellery and should actually be referred to as copper as it is the majority component) at prices close to 18 carat gold.
Perhaps it is because most westerners don't seem to have any idea that they are being screwed. They are a bit like magpies and shiny things. Just got to have it.
I regularly visit Singapore and there too you will be hard pressed to find 18K.....because most of it is 22K. Asians are wayyyyyyyyyy smarter about gold than Westerners because for many years, gold has been a safety net for them. When times are tough you pawn your gold. When they buy gold, it is for not much more than gold price. They pay a little for manufacturing and gold loss. When they pawn, they get gold price for weight minus 18%. Take your 9K gold into the pawn shop and see what you get.