Posted on 01/09/2011 3:22:40 PM PST by blam
I should have bought more at $12. Crystal ball was fogged. I'm now furthering my home *protection* improvements. Food and ammunition. Was stocking some shelves today. About 15 degrees in the garage. Shiver.
Here is more:
http://www.youtube.com/watch?v=WKTQze2UKWc
Yhis (below) was posted on Zero Hedge tonight:
http://www.zerohedge.com/article/silver-bears-are-back-round-three-explaining-two-key-recent-developments-world-silver
Blythe is the woman at The JP Morgue who bashes silver and gold. The people at Zero Hedge hate her.
You guys delusionally think TV or any TV cares about you and is not against you. Beck is too friendly with O’Reilly who is a puppet for Prince Al Waleed bin Tal - the largest shareholder in Fox. The Prince runs Saudi Arabia’s portfolio for his uncle the king. They are not your friends - their money finances the deaths of US soldiers in the Middle East.
This is where this is going.
Do you mean that if you bought a silver coin it cost 25% above the spot price of silver? If so that's just the premium and it fluctuates
Watch this. Updated just now on Zero Hedge. I like how they mentioned that Hussein is a CIA mole. He was in Pakistan. The whole family including his mum and Geithner’s dad were Ford Foundation which is usually a CIA front in third world countries like Kenya, Indonesia, etc.
The next setp is after they bust the dollar, default on all the pensions, Social Security, medicare, muni bonds - they restart a new dollar back by gold or gold and silver.
They will have all the gold and silver and we will be paupers. They will not have 100% all of it but most of it. Before that happens they may crash the price of silver and gold to buy it all up.
If they are really nice to us serfs (see GM bondholders getting crumbs) they may off us pennies for our old dollars.
Keep watching TV folks because the American public traded their liberty for a TV clicker. Our founders warned us about ALL of this but we would not listen.
Dayum!
Don’t keep me twitchin, waitin, and wonderin !
Just get that TV rant out first off and let’s be done with it.
Wow!
A rational Frantzie post.
Not a shred of rant
It boils down to a quickly developing run on the bank , except the customers are demanding silver instead of dollars. Customer are purchasing silver contracts like they always have, but with two important changes. One, the volume is up considerably, and two, instead of continuing to roll over contracts into future months when their contracts expire, they are instead insisting on taking delivery of actual silver. The COMEX is basically a silver bank that operates on a fractional reserve basis, which means that during good times they can resell the same silver to multiple people, and because the multiple people don't ask for physical delivery, no one is the wiser.
However, when people start asking for delivery, they don't have enough silver to cover. In December they have barely scraped by, and that included having customers with contracts settle for their cash back plus a premium.
So here is what it means for the near future. The real price for silver is now higher than the "advertised" contract price, it is now the contract price + the cash premium settlement price. While this is private between the COMEX and the customers that have settled for cash, it appears to be pretty hefty. (Once source says 30%)
This leads to an opportunity for smart people to make a lot of money quickly. A customer can buy a contract, stand for delivery, settle for a premium, and get much better rates on their cash than other short term investments like money markets, etc, and it is practically risk free as well. You either get more cash than what you started with, or a shiny silver bar which is a rising commodity. So, what will happen in the next two months is that all the smart people on Wall Street will buy as many silver contracts as they can, and JP Morgan, who is short silver, will be severely hurt trying to cover these.
The price of silver must rise or the market will break. It must rise to the point where people with silver will be willing to part with it, and less people will be willing to buy silver contracts, and the market will balance out again. I don't know what that price is, but it is higher than today, and possibly higher than the silver shorts like JP Morgan can afford.
The list, ping
Let me know if you would like to be on or off the ping list
This is NOT financial advice:
Look it up do your own homework:
Funds that are backed by bullion in Canadian banks:
Sprott Phys Gold (PHYS)
Sprott Phys Silver (PSLV)
Other funds holding bullion but connected to The JP Morgue and worse:
ETFS has two Gold (SGOL) and Silver (SIVR)
ETFS uses Bank of NY Mellon and trustee and HSBC as the custodian - not too good. ETFS is out of San Fran. They work with HSBC, The JP Morgue (Chase aka the Rockefellers), Bank NY Mellon, World Gold Council/Royal Dutch Shell (Rothschilds). Ahh....others might say - not good.
CEF or Central Fund of Canada also holds physical gold and silver bullion. The fund is 49 years old. www.centralfund.com
The same company also has Silver Bullion Trust (SBT.U in US Dollars) or (SBT.UN is Canadian Dollars).
They also have GTU or Central Gold Trust.
According to people on Zero Hedge and others - Sprott and Central Fund and their Silver and Bullion trusts may be better choices than US ETFs like SLV, IAU and GLD.
ETFS based on their global partners looks an someone the people on Zero Hedge and others would AVOID.
Owning physical precious metals may be even safer.
Do you own due diligence - this is just info to ponder and to get more info.
Do you mean that if you bought a silver coin it cost 25% above the spot price of silver? If so that’s just the premium and it fluctuates
Hear, hear!
It is totally connected to what is going on. Use TV to control the sheep as they steal everything from you and your children. Sadly you will probably witness this sooner than you think.
You saw this weekend how the media is trying to control the news/propaganda about the dope smoking (two arrests) “tea party” shooter who could not get in the army and read the Communist Manifesto.
Bread and circuses just like Rome.
The word is that The Ben Bernank is fronting the money to The JP Morgue to short silver. To what end? I assuem to keep silver from going upto prop up the worthless fiat paper.
That video seems to be found here:
“Won’t that make the silver/gold that we do hold even more valuable?”
Yep. Until they confiscate it. But...they gotta find it first. ;)
Silver & Gold are on the uptick as I type. I tied the price dip this past week to people selling off and taking profits as they usually do every few weeks when some get cold feet.
But, yes. This is going to get interesting!
You are spot-on, Uncle Ike.
My grandfather rode the silver tiger along with the Hunt Brothers in 1980 or so, and took it in the shorts along with them at the end of the party. Much of my inheritance was lost.
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