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Physical Silver Price is Really $50 per Ounce (80% Premium on COMEX Silver Non-Delivery)
The Market Oracle ^ | Mar 6, 2011 | Chris Kitze

Posted on 03/06/2011 6:27:42 PM PST by Errant

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To: coloradan

THE only way it makes sense if the alternative is worse. What does JP know we don’t.


81 posted on 03/06/2011 7:38:35 PM PST by Orange1998
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To: Errant

Silver Ping.


82 posted on 03/06/2011 7:41:34 PM PST by Tagurit (Are your pigs fed, watered and ready to fly?)
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To: Publius
A Conspiracy With A Silver Lining
83 posted on 03/06/2011 7:43:04 PM PST by WhistlingPastTheGraveyard (Some men just want to watch the world burn.)
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To: Orange1998

Two more years with Obama at the helm is a very, very long time.

20 years from now people will look back in amazement that we survived the calamity Obama imposed upon us.


84 posted on 03/06/2011 7:44:00 PM PST by Presbyterian Reporter
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To: cowtowney
See Max Keiser.

Not long ago, Max was campaigning for everyone in the world to buy at least 1 oz and break the bank.

It didn't work but did probably bruise em ...

85 posted on 03/06/2011 7:44:12 PM PST by Errant
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To: exit82; djf

Thank you all for both short and long explanations. So, I have one question, if COMEX (or whomever they represent, and who might that be?) pays 80% above market so as not to make actual delivery, what is to keep the lucky person/group that got all that extra money from turning around and buying another round of silver contracts? Or do they sign an agreement to stay out of the market for a certain period of time?

Actually, I have a second question. In 1995 I was selling modest quantities of silver jewelry, mostly rings. The market price then was $4/oz. Of course the finished product was more, even at wholesale. Then I had 10 years of death and dying in the family, and cleaning up afterwards. Now I am ready to start selling jewelry again. I was thinking of setting up an eBay store, but wonder if I should wait a bit until I have a better sense of where silver values really end up. I have at least 2,000 pieces to sell, all of which will need to be repriced. I could use the money, but this money is not essential at this time. Advice, anyone?


86 posted on 03/06/2011 7:44:48 PM PST by gleeaikin
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To: misanthrope; gleeaikin
Is there anyone who would be willing to summarize the above in normal English?

Find a local coin dealer and buy as much physical silver as you can possibly afford. That's the long and the short of it.

87 posted on 03/06/2011 7:46:18 PM PST by WhistlingPastTheGraveyard (Some men just want to watch the world burn.)
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To: Errant

“Not long ago, Max was campaigning for everyone in the world to buy at least 1 oz and break the bank. It didn’t work but did probably bruise em ... “

I don’t know how you can make that claim. Seems to be working just fine.


88 posted on 03/06/2011 7:46:26 PM PST by cowtowney
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To: djf
it would have to be based on true metal exchange

Agree

89 posted on 03/06/2011 7:46:26 PM PST by Errant
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To: mewykwistmas

It is more than that. Silver is skyrocketing because the dollar is tanking and many people think the USA is going to go bankrupt and implode.


90 posted on 03/06/2011 7:49:22 PM PST by Frantzie (HD TV - Total Brain-washing now in High Def. 3-D Coming soon)
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To: Errant

Up to $36.30 tonight... somebody better wake up Blythe, stat.


91 posted on 03/06/2011 7:49:44 PM PST by WhistlingPastTheGraveyard (Some men just want to watch the world burn.)
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To: gleeaikin

Wait!


92 posted on 03/06/2011 7:49:51 PM PST by Errant
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To: gleeaikin

Silver is going up so I would hold on...

Only problem is higher silver prices will not carry over to the jewelry so quickly. That is my take. Shop some around to get an idea what the market is


93 posted on 03/06/2011 7:50:53 PM PST by dennisw ( The early bird catches the worm)
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To: 4rcane

Federal Reserve. They have been funneling money into JP Morgan Chase to buy short contracts to restrain silver to try prop the dollar up.


94 posted on 03/06/2011 7:51:42 PM PST by Frantzie (HD TV - Total Brain-washing now in High Def. 3-D Coming soon)
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To: coloradan; All

So, let’s see if I understand. JPM is JP Morgan? By buying the contracts and getting an 80% extra payoff, these ex-employees are making Blythe Masters look bad because JPM will have to pay COMEX the 80% premium for handling this mess?? Any idea how many of these 5,000 oz contracts the long guys were holding?


95 posted on 03/06/2011 7:52:08 PM PST by gleeaikin
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To: cowtowney
Well, maybe he did "mortally" bruised em ... :)
96 posted on 03/06/2011 7:52:40 PM PST by Errant
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To: gleeaikin

http://harveyorgan.blogspot.com/

You can see here the open interest here:


97 posted on 03/06/2011 7:54:12 PM PST by cowtowney
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To: Errant

It’s going on as we speak


98 posted on 03/06/2011 7:55:03 PM PST by cowtowney
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To: Orange1998

From the Silver Institute:Net silver supply from above-ground stocks dropped by 86 percent to 20.2 Moz in 2009, driven mostly by the surge in net investment, higher de-hedging, lower government sales and a drop in scrap supply. With respect to scrap supply, 2009 saw a 6 percent decrease over 2008’s figure to a 13-year low of 165.7 Moz. This represented the third consecutive year of losses in the scrap category.


99 posted on 03/06/2011 7:55:03 PM PST by misanthrope (Liberals just plain suck!!)
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To: gleeaikin

See above: Wait!


100 posted on 03/06/2011 7:55:20 PM PST by WhistlingPastTheGraveyard (Some men just want to watch the world burn.)
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