Confirmation Of Ted Butler's CRIMEX Default

[vtofu]

beep... beep... beep.... beep

[Senkatuka23]

Well It's coming to the end of the year and comex seems to be far from folding.

[dannydarias1]

Still waiting. Almost out of time now. 4 months left.

[davincij15]

@dannydarias1

Waiting for what? I have money with gold and silver I don't wait I appreciate that I have real money and everyone else has PAPER coupons.

[dannydarias1]

@davincij15 You can say that now that gold has gone up from 250 to 1300. But when gold went from 800 down to 250, I doubt anyone was making such an argument. I've said it before and will say it again. Gold is just a piece of metal and an investment. And you are not suppose to fall in love with your investments. I am not saying you are wrong to hold gold, but I do believe that you gold bugs are playing a dangerous game.

[davincij15]

@dannydarias1

Gold is not an investment it's money and your paper bugs are play a more dangerous game than you could ever imagine possible.

I'm a reality bug and I don't want to be an investor I want to be a creator a maker of real things that people can buy. I know that is beyond your comprehension but try to think how did you get that computer in front of you?

Well, I don't want to be compensated with more paper, so thanks for keeping the price down by NOT saving gold and silver.

[dno151]

thanks keep us posted

[D33Lux]

How can one claim or protect something they cannot physically hold. If the bank has your gold or silver, they HAVE your gold & silver & you can shout all you want but you're on their terms & working hours. Bank runs will leave you waiting & with angry crowds. "If you don't hold it you don't own it!" and ETF's & stocks are crap, that piece of paper is just an IOU nothing more. Buy yourself a safe, a gun & lots of ammo or any weapon, that's your security & you can bank on that!

[bunsh1ch1]

How does Ted Butler know 2010 is the year for COMEX to default and not some other year?

[davincij15]

Ted Butler responded to an email asking that question. I personally did not like his answer...

He states that there is sufficient evidence to leave no doubt that silver is manipulated to the downside. This information is available to the public and will be picked up by hedge funds buying physical gold.

I agree and don't agree at the same time. I agree because that's what I did first Gold ETF then moved into 100% physical gold then researched silver and now I am 90% silver.

CONTINUE...

[davincij15]

The other part of me that does not agree is because of John of Stellaconcepts human intelligence experiment. It showed that even though there is one right answer, 98% will pick the wrong one.

So in the market you can not pick the right answer you need to pick the answer everyone else will pick in order to make money in the market.

With that said remember the monetary system is a ponzi scam (CNBC has admitted it) and you don't wait to get out just before it collapses you stay away from it.

[Jacobrester]

People if you really believe a "collapse" will happen, I urge you to put most of your money into necessities, such as food, fuel, ammunition, water etc.........and if you are going to buy precious metals.....make it silver

I persoanlly dont believe this .....but we shall see

[Arginine88]

Ted is one of the best! and the rest of the "experts" out there will acknowledge his prognostications.

[611webstersd]

Where can I buy silver?

[davincij15]

Apmex has the best price most of the time,

or if you are outside of the US or UK virtually ANY big bank.

[oilsander1]

Jim Willie makes outrageous claims, but many (not all) of them tend to come true.

[davincij15]

True I was just using Jim as an example of how Ted is different.

[ShaneChiswick]

I can't believe what Ted Butler said is not all of the joint. What is his reasoning?

[ShaneChiswick]

that should read 'all over the joint'...the sound of the silver cash register ringing has disorientated me somewhat.

[davincij15]

I did not like his reasoning after reading his second report, he gave one after a reader asked why would he make such a call.

He said that public information on how silver is manipulated and by who is too easy to find. With edge funds moving into physical gold last year they will look to diversify and research silver. Once they see the truth by scratching the surface they will move the market.

He is right if 5 billion (not even a small bailout) moves into physical silver it double the price.

[davincij15]

$5 billion is 10 seconds on the debt exchanges on a slow day.

$5 billion is less than one minute on the NY stock exchange.

$5 billion is does not cover any of the top 7 banks stock offerings in 09.

$5 billion dollars just has to come from WORLD WIDE demand to double silver's price.

[operator223]

In my left hand I have empty govt promises of social security, medicare, and paper currency and a corporate pension containing a 12 billion dollar shortfall(last years number), In my right hand I have actually something in my hand, which is silver, guns, ammo, food, and a small farm.

Gee, which do I keep?...which do I throw away?...... oh man this is frying my brain..... think...think....think.....

[davincij15]

Well said.

[spbm79]

Davincij15,

Good stuff, keep it up brotha, been watching a few months now. Gotta quick question for you, stellaconcepts, & whoever else on the thread.....

Do you guys think silver might be confiscated like Gold when SHTF? If so, do we have to keep all our bullion in house (safe, basement) or do you trust any domestic or international 3rd party storage companies?

If so, what countries and companies?

[0muffins0]

I'll store your silver for you, for free! Just send it all to my PO Box number in the Channel Islands.

:D

[davincij15]

Yes but they will pay you for it in currency.

Canada and Austria

Brinks is also good storage as they don't care what you store.

If you have only 100k just get safe bot it to the floor and get an alarm.

If you are in Canada like me get a safety deposit box but DON'T do that in the US or the UK.

[sarahsgift1]

And also for Canadians might be best to use safety deposit boxes at local credit unions instead of big banks.

[labartic]

Just buy a safe, bolt it to the floor. Or hide your stuff somewhere. I wouldnt trust any banks, they will all be closed when the banks crash.

[Adahondeayenh]

Is he saying to load up on GOLD or SILVER??

[davincij15]

Silver.

[videolover61]

Yep CRIME is all over the CRIMEX!!! You got it right again!!! lol

[0muffins0]

For every ounce of gold that is mined, only 8 ounces of silver is mined. How is the silver/gold ratio not 8 to 1, especially when silver is being consumed as an 'industrial' metal?

[davincij15]

There is a lot of information about this, and how in the 90 it was mined at a lose.

The first reason is manipulation of the COMEX and the second is governments selling reserves and the third is Bank leasing of all their reserves.

This has caused an artificial belief that silver is cheep and abundant over the last 60 years. Sure 100 years ago world wide above ground supply was 12 billion oz.

Today it's 1 billion, the market for silver is $10 billion a year, the market for debt $20 trillion!

[davincij15]

As you can see if just 0.01% of the market buying and sell were to go into silver it would be game over!

Why has it not ended sooner?

Well there is many ways to buy silver that do not take silver off the market....

ETFs

Certificates.

Trust accounts

OTC Derivatives.

CRIMEX contracts.

The total market for none physical silver is $220 billion a year. Those people are SCREWED!

[tfrenn]

Ted Butler has been a bear for 30 yrs no matter what the times.

[davincij15]

Ted Butler has written a lot in the last 60 days search and find the name of an article that he wrote that he was a long term bear.

[tfrenn]

When was he ever bullish on anything but gold or silver. Maybe I am wrong about him.

[Alexiscom1]

Thanks for sharing this information i am going into physical since December 2009. I should be there before everybody else does. Let me post a video about the post collapse scenario.

[CosmicDramaQueen]

Big things...BIG....things are about :)

[seadog92023]

" but not to those that wait too late"

[vangalex]

So when will I be able to buy a 3000 square foot house with 500 oz?

[aslomski]

Soon

[davincij15]

Good thinks come to those that wait.

[CoinsFreedom]

Regardless of a COMEX default or not in 2010...just look what silver did in 2009 - and YES "Back the truck up". Silver crushed Gold in 2009 and will do the same in 2010 as the manipulated ratio between the two PM's is still like the Grand Canyon. I collect both PM's and silver/gold mining shares for the speculative fix.

[dcs5150]

Davinci, we will see a "bad" bank liquidation of toxic assets and derivatives. The $4 trillion approved by Congress for the Fed to dish out to buy up these assets pennies on the dollar will push the dollar up like in 2007-2008. Commodities will get very cheap again, then you might get your COMEX default. I just feel we need another crisis before it goes bust, that's all. If COMEX goes bust, I think the PTB will try to grab every last bit of metal while no one is looking. Classic misdirection.

[Decebal825]

been waiting for a while expecting this to happen, why this time? don't know

[ObamaWhyNotBluRay]

Comex will never default, they will just paper it over. EPIC FAIL

[0PsycoDad0]

Officially it won´t at least not till the very end.

But signs of serious shortages will be seen and can be seen if you mind watching...

[gone556]

I have 180oz's how much do you guys think I need for the coming crisis

[Zwikster]

much more.

google Apmex

[boots920]

How much paper currency do you have ?

Just look at how much purchasing value its lost in the last year.

Having precious metal just prevents you from starving for a year or two.

[D33Lux]

I'm going to keep buying silver even if it hits $30/oz. What else can one invest in real estate? The stock market? Leave it in the bank collecting laughable interest? When the DOW tanks to 1 & gold & silver meet up at a ratio of 16:1 then we will see gold at $4700 & silver at $294. Some are predicting Gold at $10,000/oz & silver at $2,000/oz You'll be able to buy a house with 2000/oz. There's no recovery from this collapse nothings backing the dollar & the titanic is sinking & not enough boats

[0PsycoDad0]

DON`T speculate on this!

The price movement´ll wipe you out!

Today it´ll be affordable, tommorow it´s junk and the day after it´s skyrocketing!

Don´t got into debt to buy at any price!!

[CoinsFreedom]

Right again 0psychodad...Buy and HOLD

[videolover61]

CRIMEX? I think you got a typo there my friend...

[davincij15]

It's a joke. CRIME Exchange CRIMEX.

[cpswyl2]

One of the problems I have with silver is that you actually need a truck to carry reasonable sums of it around. Sign of the times (depreciated price)? I guess some people are never satisfied ;)

[4rcane]

Ted Butler may be right, but if everyone else is not on board or see what he sees, then the price won't increase. We may see another 2008, where Silver drop down

[bluecat1122]

Thanks for the info davincij.

[AndyMH182]

I am skeptical.... of course Ted Butler would say something like that.

[davincij15]

That's fine, he can be wrong he is human but since he does not make wild predictions or does not believe in any conspiracy theories and only looks at had data and public records and I have back checked many of his past claims of 4 big shorts having 98% of the silver short contracts and JP Morgan has been publicly named as the holder of 200 million oz short of silver.

Since those things were accurate I am going on faith because he studied it for 30 year to my 3.

[AndyMH182]

Yea... but I still remember Schiff calling for 1500 gold and Celente calling for 2000 gold by the end of 2009.

I'm not going to get my hopes up over some parabolic rise in PMs.

[davincij15]

The diffrence between Butler and Schiff, Celente is they believe the system is mostly legit.

Ted Butler KNOWS first hand it's manipulated and has NEVER made a price call because of it. He has said made up or down calls and called the bottom of silver.

Read his stuff verify what he said in the past and you will agree this guy is like the guy who said Madoff was a Ponzi. He is the real deal, I am Shocked, SHOCKED that he made this call. IT IS THAT BIG!

[Seano71]

but they didn't bet on all the bailouts taking place either

[campeona5]

Did Celente really say that?? I'm almost sure he just said Gold $2000...

[mrstockman]

can gold get some play everybody?

[ewffaces7]

yehaaahhhhh, praise the Lord !!!

IT's GOING TO HAPPEN

drop dead, you banksters : the wrath of God is coming over you

chemtrail them with the facts, davincij !!!!!!!!!!!!

[61markt]

You no what even if he is wrong Im still backing the truck up

[rollinglibs101]

All of you in 2010 waiting for 1000.00 ounce silver will never happen..I can see silver going to $40.00 or $50.00..but for even that to happen the dollar index will have to fall below 70..just my take

[CoinsFreedom]

it will hit 40-60 on the USDX in 2010 as per Chapman.

[davincij15]

Between 2012 and 2020 silver will be $1000 in today's dollars.

[rollinglibs101]

So you have a window of twelve years..Hey anything can happen..So I don't dismiss it..If you see Silver at that price by 2012 it won't matter..Because the US will look like a Mad-Max movie..I don't want to live in that..I hold silver to preserve value..not to get rich..I think what you are talking about is complete Zimbabwe like hyperinflation..

[davincij15]

Even Zimbabwe with 85% unemployment is not mad max style yet it's not safe for people that don't have money.

Who's fault is that, the cheerleader that wanted it to end or the central bank? If I worked at the central bank I would not have printed the money, I would raise interest rates cause gold and silver to go into bear market and let banks and businesses fail.

Also I would suck up liquidity and announce I may default on 50% of capital stored at the Fed to avoid banks from not lending. ;)

[rollinglibs101]

davincij15,

One last thing..You kinda seem like you want a collapse?..You better prey it does not man..You have kids..If the US falls so do alot of peoples futures..and NO..Gold and silver will not save everything..I agree that our Monetary policy is in very bad shape..and yes I do believe it will get worse..but I don;t get a hard-on for the end of the US..I love this country and I want it's Prosperity

[davincij15]

There is no way to wake people up to the truth about paper money transferring wealth from them to the rich. This system is crooked and I don't want it to continue. Anyone wanting it to continue is benefiting from it's ability to transfer wealth.

Gold and silver are the enemy of this system it will be the last asset to increase peoples wealth.

Finally the US will not be Mad Max a dollar collapse is like global black out. We will work to turn on the lights with a new monetary system.

[MzProgressive]

If you want AMERICA to prosper - you should help to Guarantee that by holding PMs!

China just offered silver bullion to the masses in August - for the first time in their communist history. Then they pulled millions in physical gold out of the International reserve.  They also coincidentally stopped buying American debt. Do you think they are stupid? The more PMs their citizenry holds, the more wealth protection for the country.

We should do likewise.

[MoneyBags73]

All the manipulation going on by some of the major banks with their short positions and their illegal amount of short contracts is bound to blow up at some point. I think that sometime in the not so distant future silver will reach a price that makes the current price seem like it is being given away.

[Raycheetah]

@MoneyBags73

Might be why Prez Soetoro has promised $4 trillion for the next bailout, 'cause he knows what's coming when the banksters' schemes blow up in their faces. =0[.]o=

[cowboycarl04]

Just curious what everyone is thinking/predicting/expecting.

Let's say that COMEX does crack/default on some level/all levels when it comes to silver.

Well what does that mean the price of silver to be in USD or AUD or Euros?

I backed up the truck when silver was single digits and look to load up on dips, but I just don't know what to expect.

Does anyone think the price of silver will go past gold?

[boots920]

I do it eventually will but "the paper" will have no value.

Example

You can't do a 1oz gold transaction in Zimbabwe dollars because there's not enough paper in the country to cover the transaction.

I don't think people realize how destructive their lives will become without a paper money system.

US dollar is worthless the market hasn't made the adjustment yet. People live in la la land, you'll still be a paper millionaire but it won't buy anything. Happened many times in history overnight.

[CoinsFreedom]

That is why they will devalue the dollar against other currencies officially just as they have in the past. They will have a new fiat paper product until they get us into 100% digital transactions. You will need a number to work, buy & sell...nuff said.

[davincij15]

Yes, spend some time researching it reading verifying the unbelievable numbers. Then you will agree silver will eventually go past gold.

Heck a New York times article stated that silver will be the first element on the planet to become extinct by 2020.

That can't happen of course the price has to go up to make recycling it a viable option.

[seadog92023]

Good call on dumping some gold. What do you think you'll get..... Bars, eagles, maples?I've heard if gov mints stop production US will probably be first...

[stellaconcepts]

get as much silver for your money as you can get.

[boots920]

Only if you plan to stay in country although gold has less value than silver its portable you can bring you wealth with you.

[seadog92023]

Sarah it seems a bit riskier to hold dollars.....

Also try withdrawing 10 to 20k from your bank

see the song and dance they give you....it's truely astonishing. I think Ted is right ...thanks for the heads up davinci...peace

[davincij15]

If you are going to buy wait for a dip, I know it may be hard but wait for it to break down of a day then pull the trigger.

[boots920]

Its crazy stuff but I don't know how they can manipulate the price so low. Man when it breaks out look out.

Gold certificates 1:160 ratio (real gold to fake gold)

Can't find how much fake silver is out there.

[stellaconcepts]

about the same i think

[boots920]

I turned in my silver certificates two years ago and they broke the contract on bar size and delivery time.

Are people in for a rude awakening when they can't get delivery on their silver.

[davincij15]

Silver should correct in NY time zone as it must be scraping up the bollenger band.

[BackBurnerNews]

Nice!

[Eraser7622]

when this thing busts.. assuming the world doesn't go to hell overnight.. we should get the silver bugs in this community together in Maui or someplace! Few of us will worry about the cost of the trip!

[AfterTheFox75]

It would be a blast!

[BackBurnerNews]

Haha!

Amazing!

[CoinsFreedom]

How about taking over the Bilderberg Hotel with silver bugs?

[Eraser7622]

Haha... I can see it now.. "I'm sorry Mr. Bernanke, the hotel is closed right now due to an infestation"!! And all this time we thought the infestation was the banker disease :) I'm in!

[MzProgressive]

I'm packin' my bikini now! :)

[samsterlok]

Lol, cool comments!

Keep up the good work davinci, enjoy watching your informative clips!

[cwicss]

I agree 100% with Ted, as well I think by the end of the year the wheels will fall off the US dollar. Thanks for the info Davinci,

I consider everything Ted writes but I don't subscribe to his news letter. Right now in Canada loading the boat is not that easy,

the mint can't seem to produce enough coins for current demand and I have a feeling new demand is about to pick up

drastically. Good job on your video's and again thanks.

[sarahsgift1]

Apmex and First Majestic work pretty well .Are you by chance in the Okanogan?

[cwicss]

That was a hell of a guess , product of Kelowna general hospital, and never wandered too far....

[w1ngzer0]

sorry.... but that reminds me of "you gotta back dat ass up." Instead you gotta back dat truck up... Err sorry. I want to see the crash so we can finally get on with it.

[sarahsgift1]

"Back the truck up and load the boat" totally cracked me up. You do have a way with words!

Am contemplating placing another order,For some of us that are older and have worked hard and saved all our life it sometimes feels riskier.

Hard call as at the same time I sense Ted Butler will at some time in the future be correct.

[davincij15]

Get the trailer hitch and take the boat seats out and load it up. :) lol

I pounded the table on silver last year this is big pay off this year! I am sure of it. I'm dumping some of my gold on this call alone.

Do some google searches on

Silver "above ground supply"

and read, read then read some more.

Still don't believe then make some calls do your home work until your blue in the face, you will find that silver is the trade of human history next to shorting the Tulip mania.

[stellaconcepts]

Yea I dumped what little gold I had when gold went to 1200... exchanged it for silver.

[boots920]

davincij15 you see the 600 year silver chart, looks like silver has been manipulated down for 600 years.

I think the early 80's BS was to screw with people heads.

At this point in history silver could be as rare as gold above ground. It got all used up in industry with no recovery.

What keeps the price so low ?

[davincij15]

When JFK was in office the US Gov had 2 billion oz of silver. And he signed executive order 11110 to use that instead of debt.

Today all of those reserves are gone even silver used in making the atomic bomb that used 700 million oz has been recycled and sold. China who was on a silver standard until the 30s has no reserves however the data is considered unreliable.

This and price manipulation on the COMEX kept silver from asserting it's monetary role.

We are lucky reality is about to hit.

[boots920]

"When JFK was in office the US Gov had 2 billion oz of silver. And he signed executive order 11110 to use that instead of debt. "

That's right the Federal Reserve was involved in murdering the POTUS. Then served up Vietnam for the people.

- LBJ - War Criminal removed death penalty for counterfeiting from the books

- LBJ - took silver out of coin (violation of US constitution)

- LBJ - took Red Seal notes out of circulation dated 1963

1971 - Nixon Shock no sound money international fraud

[sarahsgift1]

Ok.......but the neighbors may look at me a bit strangely due to the recent snowfall. :)

[whiskerchild]

Thanks davinci

[rangeyer]

you've been calling this for over a year. Do you really think it's going to happen?

[davincij15]

Yes in a sense it already has happened as...

1. You can't get delivery of 1 kilo bars as of Dec 31 2008 (1 Year ago)

2. You can not take delivery of mini silver contracts of 1000 oz bars.

3. Gold and Silver ETFs are now being used a substitutes for delivery.

Sure if you push and fight and cause a big enough stink you will get delivery from the CRIMEX but let's get real here, should it be that hard?

[stellaconcepts]

not to mention plenty of first hand experiences floating around gata's circles about customers being offered 125% value of their metal if they take cash settlement.

agree - there had been a silent default for about a year now.

[MzProgressive]

Wow, that IS significant, Stella!

[geraldcaron]

I have to admit that you made many videos urging people to buy silver, and you were RIGHT. I remember when it was $12-13 / ounce. So, on that you were completely and totally right, its $17 now.

You have to admit that you have been predicting the imminent Comex Default for some time now. You kinda start to sound like the boy who cries WOLF.

( I am a little frustrated because the last lump of silver I bought, is now 5% less than I paid for it, as I bought in the last peak, in Mid. Dec).

[davincij15]

Never buy when silver is running up I will mention that next time it silver starts a run.

True I have been at this silver game for 3 years Ted has been at it 3 decades. I think he may know more than me.

[doobsta]

your buying for the wrong reasons...

[operator223]

there's about 4 or 5 people also including Bob Chapman that have been saying there will be comex defaults almost every month for the past 4 or 5 years...... When it happens, it will happen. NOBODY knows exactly when, but just be patient and you should be rewarded.

[rusirious]

If comex defaults on physical and settles with GLD shares as some sugest, what will happen to the ETF market, 60 cents on the dollar?

[onemindonespirit]

I agree. Time to go all in.

[askmeif]

The arc is complete, yes, lets load and lock, and be patient.

Like virgins whose wick is trimmed and ready, they will ask for our oil and we will tell them where to buy it.

[NAVYGOLDEIGHTFOUR]

I am looking forward to hearing Mr. Butler's weekly interview with Eric King this week, they should have a lot to talk about.

[LysSpooner]

good heads up. thanks

[dojufitz]

I like his mentor Izzy Freidman - his calls are wild - he made alot of money with Silver on the last bull run........

[junkyarddog47]

All aboard, its time for "Slap that Silver"

[A55A551N8ER]

loaded and ready to set sail skipper!

[611webstersd]

what do you mean?

[davincij15]

The next dip in silver is your last chance to load the boat. You should buy now with 33% of what you are willing to spend and wait for a dip for the next 33% and if it falls again all in.

[jamezbond78]

I agree. It's going to be a terrible year. The unemployment is rising and Obama hasn't given us any hope to restart the economy. There is a great article i saw that talked about a tsunami of negative events coming beginning in Feb. including the retail sales realization and the commercial real estate meltdown.

[Frequencitee]

I think the first and second quarter will be a great buying opportunity due to a strengthening dollar, but...when we see the next collapse in the real estate market, on top of the other factors included, all bets are off for the dollar. Just make preparations for weathering the storm.

I am so glad that I completed my degree.

Otherwise, I would probably not have even been in the top two for that order taking job I got at Wendy's. ;o)

[jamezbond78]

The dollar did have a rally, but it is having trouble breaking 78, so I wouldn't say it's a strengthening dollar at this point.

[skybirdbird]

oh my goodness....tkx for your work on this.....

[AfterTheFox75]

Thanks for your work on this! Exciting and serious news...in a way it is only logical...it just has to happen.

Cheers!

[AfterTheFox75]

Wished I'd had more confidence and backed my freaking truck up when spot was $9-12! Man I missed a great opportunity then. :( Grrrr

[1TheTruthChannel1]

I know I wish I knew more about it back than. I just started to invest last august.

[AfterTheFox75]

Oh I've been up on the investing potential of silver since fall of '08, I just lacked confidence ... thinking (hoping?) I was wrong, that everyone on here was wrong.

[boots920]

I wish I knew about Ron Paul 38 years ago, I just had to watch him once to catch on.

Then I wondered why I never heard of him before ( Our news has been censored for I don't know how long)

Look at the Ron Paul money bomb historic record in US politics never reported on outside US main stream media.

Proves information control on a massive scale.

Even now the US people don't know they're done for.

[boots920]

Yea but try to buy physical at spot $12 almost impossible to get , huge delivery times. That's what confuses me on the price. How can you get away with shorting it so bad and live to tell the tale.

[AfterTheFox75]

I was talking about last year. If it were to fall to that price now (no way in hell it will) then forget it, you won't be able to get any.

-On the shorting... well I guess you can get away with a lot (for a time) if you gov't printing presses and crooked politicians backing you up.

[boots920]

What has me concerned is the US dollar is the largest bubble in the history of mankind. Its already popped and the International government don't do anything.

You might make heaps on silver but there might not be much of a market to spend it in.

People don't realize how destructive subversion is everybody dies (food inflates out) no sound money eventually you can't afford to eat. Look at Detroit that's what cities will turn into.

[AfterTheFox75]

Agree on the dollar being the largest bubble in history, but other nations have already made movements to "counter" the weight of its destruction/implosion. (Think the actions of the BRIC nations in the past year.) You are also forgetting that gold and silver (as well as some other commodities) ARE the sound money(s) -which is why everyone is in such a scramble now to acquire what they can. Now is a time to grab what you can while fiat currencies are still perceived to have value.

[AfterTheFox75]

Also, there is the issue of metals (and some other commodities) as being stores of value/wealth. These things maintain a value even though fiat currencies may/will falter and fail. As others have noted, when you buy an ounce of silver and the price then goes up, what has happened is that it's not the silver that has gained value, the paper monetary units used to purchase it has gone down in value/appreciation. Therefore you have maintained the value of the initial purchasing value ...

[AfterTheFox75]

(con't)...of the money initially used to buy that ounce of silver.

I hope I'm being clear.... at least this is the way I see things....I may be wrong in my assessment.

[boots920]

I think you're 100% correct my red flag comes up when there's less than 5% of the world's population that knows what's going on.

Not going to be much fun watching billions of people starve to death because they trusted the value of paper money.

Being a millionaire in the Apocalypse won't be much fun.

[AfterTheFox75]

No it won't be fun watching people around you suffer and I certainly don't look forward to those days.

Yes, you may be a millionaire, but you have to remember that holding millions of worthless paper means nothing when pack of gum could cost hundreds. I figure that you'll maintain your current living standards at worst...at best a few marks above.

I try to not get too cocky on the matter. In fact I try not to think about it. I'm just happy to be awake, have a storage of food and some shiny.

[boots920]

"In fact I try not to think about it."

I know that's why I'm not looking forward to the debacle, it doesn't have to happen. By destroying the money system it will happen. Its the most preventable disaster in the history of mankind.

You follow rule of law all this bull shit goes away. But look at the American people dumber than a sack of hammers. I don't think they know what they're giving up.  Obviously they let the government start fake wars no problem.

[AfterTheFox75]

It's been the most preventable yet deliberate disaster in the history of mankind. Good laws may be written, we then depend on the honest and noble to rise to the top to enforce them -rather like the failings of Communism, they often don't. In fact we often get the most debaucherous, crooked scoundrels seldom seen other than in organized crime.

Not all Americans are as dumb as a box of hammers, many are as dumb as a box of sledgehammers I'll have you know.

[artdeco101010]

Woo Hoo !!!

[drutter]

BEEEEP! BEEEEP! BEEEEP!

[drutter]

You probably meant "December 31st" not "January 31st".

To be clear, it appears Ted said "it MAY mean the end of the Comex". But yeah, he's definitely using strong language here.

[davincij15]

Yes it was Dec 30th actually.

[boots920]

Ron Paul

The fiat money standard (US dollar system) ended in 2008, they'll try to re-inflate the bubble but it won't work this time.

Ron Paul 1971

I got involved in politics because my study of Austrian Economics made me realize that the American people would face a currency crisis some time in the future.(Austrian theory predicts end of currency when there's no gold backing)

The Nixon shock Ron Paul could predict end of currency once there's no gold backing. That happened in 2008

[truont]

Butler said (per EdSteer)

"This silver short position and manipulation stops here, with JPMorgan and/or the US Government. It gets transferred to no one else. It may mean the end of the COMEX as we know it, but it definitely means that the silver manipulation will soon end. Let me stick my neck out here and be more precise -- the silver manipulation, because we know so much more about it, will end in 2010. Make sure you are positioned for that by being as heavily invested in silver as possible."

[stellaconcepts]

vid aint working for me!

[stellaconcepts]

ok its working now.

sweet work DJ and great find.

Ted is the man - if he can't do it - no-one can ;)

Beep Beep Beep.... thats the sound of a truck being backed up

[sarahsgift1]

You guys are too funny! lol