(Thanks oprahstheantichrist for the ping!)
Excellent post #15, Frantzie. That about sums it up.
The Comedian's "Economic Holocaust" ping list...
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 01/09/2011 3:22:40 PM PST by blam
He obviously has a big buyer that will pay much more han spot.
I remember those days as well.
The banksterz take it in the shorts while silver cats lol lol lol all the way home.
I think someone dropped a TV on his head when he was a kid.
(Thanks oprahstheantichrist for the ping!)
Excellent post #15, Frantzie. That about sums it up.
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.
Thanks for the info.
Just so everybody is clear that I am not pimping golf and silver. I don know paper money has become worthless many times before. Venezuela devalued recently and Argentina did not long ago. Zimbabwe’s currency became worthless.
Keep an eye on Obama’s Illinois. They may be the first state in the US to go bankrupt. They are going to raise taxes even more but it is not even close.
We do not know what is going to happen but things are not getting any better.
Just so everybody is clear that I am not pimping golf and silver. I don know paper money has become worthless many times before. Venezuela devalued recently and Argentina did not long ago. Zimbabwe’s currency became worthless.
Keep an eye on Obama’s Illinois. They may be the first state in the US to go bankrupt. They are going to raise taxes even more but it is not even close.
We do not know what is going to happen but things are not getting any better.
What this mean is JPMorgan is trying to cover their BIG SHORTY and you can bet yr sweet bippy that Goldman Sacks is going long long long on Ag. Should be quite an uptick for silver this week.
Also this means that the dollar will tank as silver rises, and oil will rise as dollar tanks, and gold will drift up though not the primary actor.
Should be an interesting week.
JP Morgan Covering Silver Short Position
http://inflation.us/jpmorgancoveringsilver.html
Class action against Morgan, HSBC specifies silver manipulation mechanism (A New One 12/28/2010)
http://www.goldnewswire.net/class-action-against-morgan-hsbc-specifies-silver-manipulation-mechanism
The Goldsmiths, Part CLXXV
http://news.goldseek.com/GoldSeek/1294383780.php
Here is your “friends” at Fox blaming conservatives for the AZ shooting:
http://www.freerepublic.com/focus/news/2654101/posts?page=2
Not that I could . . . maybe I could $50 worth by robbing Peter to Pay Paul . . .
But say someone could invest $1,000 in silver . . . are you saying that’s a smart thing to do at this time?
I don’t understand a lot of the long/short etc. talk of the financial elites. Very ignorant in such things.
Now we know where the TARP and bailout monies went, and what they are being used for!
The level of naked, open corruption on Wall St and Washington DC is truly hard to comprehend!
“Until they confiscate it. But...they gotta find it first.”
We sold all ours at our yard sale last weekend for face value. We figured since the coins already had the prices stamped on them that we’d save a bundle by not having to buy price tags. :)
That's the explanation I was looking for.
Badda bing
I don't know anything about that. I have also heard rumors that the Chinese are shorting to get the price down to buy more. Are they short for some monetary reason to help the government, or do they make money somehow using derivatives or hedges? I don't know and I am not that sophisticated an investor.
In the end, it doesn't matter if the Fed or Chinese are trying to get the price down, if they physically run out of silver in the COMEX and spot markets. Silver has industrial uses, and to suddenly run out of silver would be very bad for industry. They can't just paper it over with accounting games forever. The price of silver must rise to at least the cash settlement price for investors standing for delivery. As long as the price for silver remains this low, investors will be buying more, because they feel silver is on sale, and those who have silver won't sell, for the same reason. The current inventory will be sold off, not replaced as quickly as is being sold, and the COMEX will be paying a cash premium to everyone. This is a free money ATM cash machine to a Wall Street shark, who can sense blood in the water around silver.
mark
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