Posted on 04/28/2015 8:59:46 AM PDT by SeekAndFind
But you are right. The ROI wasn't what I could have gotten otherwise.
The upside is that I was able to hang onto it through two divorces. I couldn't have done that with conventional investments or cash.
/johnny
Banks like JPM don’t go long billions of dollars of a commodity to speculate (or “invest”). They wouldn’t have the capital to do so, and their quarterly income statements would be haywire with gains and losses.
The balances are either customer positions, hedges against customer positions or deposits for some “Exchange Traded Fund” such as HSBC’s SLV.
If JPM was actually long this much silver they would have to disclose it in their financials and they would have to break out all the gains and losses in their quarterly reports.
IIRC, the only time in recent history that one could “spend” gold was during the German hyperinflation of the 1920’s. Germans prudent enough to hold gold merely went to Switzerland or Great Britain & exchanged their gold for rock-solid Swiss francs or pounds sterling or maybe even American greenbacks. These foreign currencies were brought back into inflation-ravaged Germany where they were readily accepted in payment, which of course worsened the fiduciary situation.
At least I think that’s how it was. How would gold be used in a barter economy in these times?
IMO it’s good that the prices of silver or gold are well below their previous highs. Could it be due to our expanding oil production & exports (which this preezy has done everything to thwart)?
because... they don’t remember what happened when the Hunt brothers did something similar in the early ‘80s?
at 16 an ounce it is time to buy more, if you can find it. Look out for the counterfeit Morgans made in China, they are real good, but have a very small c stamped on them, nearly impossible to see unless you really look.
Can’t stand those commercials- They air every 10 minutes or so- constantly-
[[because... they don’t remember what happened when the Hunt brothers did something similar in the early ‘80s?]]
I remember something about it- what happened again? Didn’t it drive the price down or something?
Just bought silver ETF’s...at $15.23. Historically low, I’d be surprised if it went down much more.
I think it’s just a good bet right now. The price will likely go up anyway...but especially if we have another crash.
Been hearing this same “silver’s about to go through the roof!” stuff since 1996.
In 1979 the Hunt brothers appear to have tried to corner the world silver market. Silver ran up from $11 to $50 in six months. And then in weeks it collapsed back below $11. The formerly billionaire Hunt bros filed for bankruptcy and were banned from trading commodities.
thanks, I thought it was something like that- I just vaguely remembered that they were responsible for something like that
Seems William debane, and others who own silver are trying to get OTHER people to run the price up by driving demand for silver this time instead of doing it themselves by making it more scarce- Getting others to do their dirty work for them-
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