Silver Wheaton Corp. Message Board

Cyprus walls off Greece and futures roar, SLW too, from last night's performance numbers. Silver is backing off 3/4% though, so it may be bargain time.

Monday lines form outside Cyprus banks, and there may be blood in the streets, but hey, it's Friday, that's a long way off! Right? No?

No. Selloff this afternoon as the Cypriots don't plan on ruining their weekend with trying to bailout their country.

Got housing numbers that blew away estimates (never mind pick up in inventory means waking the sleeping giant of bank foreclosures and rentals waiting for flip mania) but nothing offset the ominous tit on a boarhog Cyprus, which has even the US asking, can it happen HERE?

Well of course it can, that is why we have 2nd Amendment rights, but we're still on the side of allegedly protecting savings from the banks-since about 1933. Now to the tune of newly minted $250K, and $500K if you're in a stock account. (SIPC).

Still the market is cringing away, SLW beats earnings and tacks on about a buck and a half--and silver tacks on about 1.25%--although about 1/2% that luster is disappearing overnight.

Slow news day means Cyprus deadline of Monday and Bank Holiday ending Tuesday means it is going to be wild in the streets if the Russians don't buy the gas for cash proffered by Cyprus, and kiddies, it doesn't look too good. General market futures are off a hair.

Nighty night.

They find out your bankbook number and confiscate 6-10% of your savings. Only if you live and bank in Cyprus though.

Everywhere else Bernanke just degrades the currency by printing it to the tune of about six percent a year, and the yokels never know the difference.

Bernanke talks retirement leaving cleaning up his mess to the third guy on a match. In the military the third guy on a match is the one the enemy finally gets a bead on, and shoots.

He says he's dispensable--after his don't worry be happy rant on the eve of the real estate meltdown many would agree. He's leaving the hard job, overseeing interest rate pops in the 2015, to some poor shmmuck Obama nominates.

In the meantime Europe is contracting, silver is all over the place around flatline, and the 830 time frame economic news about existing home sales has to meet a headwind of an every so slight pop in mortgage rates. If folks are gearing up for the spring selling season there will be a pop. If not, the Cyprus lunacy is off the table until Tuesday end of bank holiday, and I for one am waiting to see the long lines at the banks of all the little piggies to tell me what is in store for next week.

Gas for cash deal is falling on deaf Russian ears. Maybe we should buy in, we could use the fuel.

We need goldilocks numbers, just enough improvement week to week, without upsetting the applecart of low rates and bondbuying stimulus, Whether they work or not, the stock buyers look for those tea leaves not to get shaken, and when Bernanke's retirement looms in about three months--the spit will hit the fan.

And the market is now ignoring CYPRUS as it should, $6 Billion a tit on a boarhog, two days worth of Bond Buying binge money here in the US. The horror show is that the European powers that be would allow, even back raping depositors in the most egregious trampling of rights since the Great Train Robbery. We learned that the banks ability to use other people's money doesn't give them the right to steal it, and here we have the pols in Europe talking as if that is a solution, and the talks about a trade off later with heavy hitters like Moscow, let alone Brits who stash their "401K" money there. These depositors are not bond, or stock holders, they're innocent passerby's that are being mugged by the EU for money.

It's so awful it even has felon Henry Blodget fuming in righteous indignation. Meanwhile futures are up in the general market and silver doesn't know what to do with itself, having gone virtually nowhere to speak of during this "crisis".

With about 7 million homes off the market and bank owned, or rented by bottom feeding private investors, it looks like there is little inventory left to be bought in the housing market. That overhang is unseen to be reported on when housing stalls out in about 30 months, given Bernanke's successor keeps pedal to the metal with low irates.

Forget he's leaving in January? I didn't and the market will get a jolt when somebody reminds the sleeping public that is a fait accompli.

In the meantime, up is up, and the trend is your friend, and Bernanke pours oil on waters at 1230 and 2PM EST. Until somebody mentions there are hawks or two that poo poo low irates.

Then here we go again.

Cyprus collapse yes, the whole country budget is about the size of a half months US BOND buying stimulus program, the $6B in question is ridiculous. This is what is wrestling the market to the mat to the tune of half trillion in equity disappearing over the past three days.

Your comment about FDIC REVERSION TO $100K is TOTALLY INCORRECT.

Dodd-Frank Wall Street Reform and Consumer Protection Act made the $250k higher amount permanent, according to David Barr, a spokesman for the Federal Deposit Insurance Corp.

bankrate DOTcom/finance/savings/fdic-insures-bank-deposits-to-250-000-1.aspx#ixzz2O2FzSSrC

Housing starts trump CYPRUS for the first day of the FOMC meeting, which will hold rates steady until somebody leaks dissension in the ranks, and then watch the weeble wobble thereafter. SLW defies gravity, as silver is off 1/3% as the dollar declines (!) and that is represented in SLV not SLW for no reason at all.

The debt in question in CYPRUS represents about three days worth of Fed bond buying, a gnat. The grawing problem is that stealing somebody's bankbook is as egregious as it gets, so obnoxious, I don't care if Hannibal Lector banks there. For now, the vote in CYPRUS is damned if they do, same if the don't. The contagion of bankbook confiscation as a means of righting bank injustices smacks of hiding that can of worms inside the complete dissolution of banks as places to put money.

I bet Scottrade and Etrade would be happy though. I wonder if they have branches in Cyprus.

FOMC drag, and countdown till the European Bank holiday ends Thursday morning wee hours EST, the riots are about to commence. Whatta fiasco.

The Holiday has been extended till 2 AM EST on Thursday. The riots should be "fun". These idiots deserve the social unrest. Chances of spreading Europe wide? #$%$ knows, except for Germany and maybe France.

Another self inflicted mess, dawdling incompetent politicians, wrong headed economists, turmoil unnecessary started in the US to keep the party of real estate going. UGH.

The CYPRUS robbery of 6-10% depositors money to pay for a bank bailout hangs over the market like a radioactive cloud hiding monsters as hideous as those in the movie "The Fog". Wholesale robbery of the innocent, and I mean innocent with respect to banking incompetency not how the folks earned their money. General market is off a half percent, the FOMC meeting starts today with the same profile of fist waggers against the lower interest rates and bond buying to get there, and the rest of the world goes insane on Thursday as we await the run on the banks. I wonder how many people can exist without having to draw off savings or checking accounts? I guess we're going to see.

Meantime silver is crashing again. And those on the sidelines with all their trillions not in the market feel read good today.

Unless their money is in a bank. I suggest you invest in mattress futures, because at these interest rates, 1/2 percent minus 6-10%, however unlikely here in the US, doesn't look very good from a risk profile standpoint.

Yeah, confiscation of bank deposits, or your silver and gold, couldn't happen here, could it, moron?