Posted on 03/06/2011 6:27:42 PM PST by Errant
THE only way it makes sense if the alternative is worse. What does JP know we don’t.
Silver Ping.
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.
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 ...
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?
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.
“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.
Agree
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.
Up to $36.30 tonight... somebody better wake up Blythe, stat.
Wait!
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
Federal Reserve. They have been funneling money into JP Morgan Chase to buy short contracts to restrain silver to try prop the dollar up.
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?
It’s going on as we speak
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.
See above: Wait!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.