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Another Decline In Registered Silver Brings Total Comex Physical To Multi-Year Lows
One would think that following the total "annihilation" (as it has already been pegged by some) in silver over the past few days, that Comex would promptly reverse its "temporary" reclassification of Registered into Eligible silver, or so the believers in Comex holdings claim. Which is why to our surprise we noticed that today, the Comex announced that the ongoing inverse reclassification from Registered into Eligible continues, with Scotia Mocatta seeing another 186 thousand ounces of physical silver moving into that dark pool known as "eligible" holdings.
This, following on the footsteps of last week's massive reclass action, which saw 20% of the Comex Registered silver being shifted away, means that today's Comex physical silver has now fallen to a fresh multi-year low of just 33.152 million ounces. Add to this the fact that there was another withdrawal of 300k ounces from Brinks, and one may wonder just how "justified" the fall in silver price has been over the past 2 days.
And for those who enjoy seeing long-term charts below, courtesy of 24 hour gold, is a long-term chart showing Registered silver inventories at the Comex. It kinda speaks for itself.
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Dangertime, your mom just called and said to hurry up and get your ass home because dinner will be ready in 30 minutes...
Nice try, I live in, and blog from, my mom's basement. Dontcha know?
what's da matta? poor baby can't find a job and is stuck with student loan debt? aw.....too bad............
Yup, I'm a poor boy who just comes on here and harasses peeps. Cannot afford to buy "puts". I don't even know what they are.
What's funny is that I am ignorant and yet I STILL knew silver was going to plummet. You rookies didn't know jack shit.
The fact that you think that one "correct" call makes you some sort of trading genius shows how green you are.
You get one right, and you think you will win them all.
But then, you were a liar from the start, so who cares?
Well at least you can finally admit I called it right.
I forgive you for not knowing my track record, but you will learn it.
Bullshit. You act like every other hot shit newbie trader I have ever met.
And your trade was utter shit. You realized a $25,000 tax liability when you sold 100% of your physical silver, AT LEAST.
LOL top!
...
FWIW here are premiums for physical 1 oz Gold and Silver Eagles:
AGE: 10.9%
ASE: 19.4%
From 24hgold.com and their eBay widget. This is a very imperfect measure of physical vs. paper prices, but I look at this often. Also the Au / Ag ratio.
If you have to chase poon you're doing it wrong. Poon should chase YOU.
I may not be quite the poon magnet you are!
As long as the fat poon chases you.
I've already bought what I need. Might be tempted if paper price drops lower. Is that a AK or AR in your av. Cheers HPD
looks like an AK or an SKS
its a norinco..........
+1
My coin dealer was mysteriously absent today???
I guess if I ran a coinstore I would take strategic sick days as well...
I've got a coin dealer who thinks in fiat. He's always open. And no! you can't have his name. He's mine, all mine.
Silver Discussion CNBC
http://www.youtube.com/watch?v=OiHOknhSzQk
http://www.youtube.com/watch?v=2KG1DDlvSos
keep the pressure on bitchez. we are close now. BUY BUY BUY !!!!!!
received a bunch today. ordered more yesterday. we hit $40 or break lower I am backing up the truck.
it's getting close. can you feel it?
it's getting close. can you feel it?
you bet
Buy That Fuckin Dip You Silver Vigilantees!
VIGILANTES? In SILVER?
Beware of banks reclassifyng assets.
Reclassify from junk to junk+?
thems are ducks...
Instant Classic. This is why I love the 'hedge!
my dealer still wants close to $49 for physical, and that's for generic xmas rounds, not eagles.
wait till august ....then the fun will start...roller coaster...
Fall will be fun, but the buying opportunities will be this summer. I see a lot of downside action coming after June... but it will be temporary.
when physical decouples from crimex price then you have all the information you need to know....
I think it's happening now. Look at dealers' spreads. They are widening.
And my sell price is over $100.
Most peoples kidneys are eligible for sale on the tijuana exchange. But who has registered to do so.
Negative PM news followed shortly by some bullish news, a tug of war is going to play out wish I was long volatility.
Long volatility with no bias in addition to a large physical silver position is a nice way to make some money, if you care to play paper.
Yes paper is only a short term play.
That and the coming bronco ride we are to see.
Of you can trade the volatility, then do it otherwise " hand meets ass".
What is the best way to play volatility in silver?
I would buy long dated out of the money puts and calls. December should be far enough. Sell the puts on spikes down, and sell the calls on spikes up. Hold anything that is red, and roll in a couple of months.
I personally, would rather simply buy physical. This pig could blow at literally any time. The profits you will realize while holding physical silver after the industrial panic will make anything you made trading volatility look like pocket change. I can understand the argument that you would use that money to buy more physical, but you never know what will happen.
I would suggest you consult a professional before carrying out my advise. Like I said, I don't do that myself, so I can't speak to the real likelihood of making "money" that way.
Did they miss him? Or is the Silver Surfer "coming around for another pass?" I'm trying to visualize the trading floor of the physical and then "catching that wave." Do they "transfer bank to bank?" Or "just trade flags" like at the FRBNY?
Sell the puts on spikes down, and sell the calls on spikes up.
Well, this advice seems a little obvious. So I should buy puts and calls, and sell them when they become profitable?
LOLOLOLOL
Just kidding! Please take that as a joke! I've learned a lot from your posts. They are always very informative, especially for those looking for a reason to buy, or reconfirmation that their bullish thesis is correct even when silver falls. Sometimes I think that silver will go down, and I need to be set straight!
Zero Hedge is the best precious metals website on the internet! Lots of people here who are as smart as my coin dealer.
i never knew God could laugh so loud. "Make God laugh--have a plan."
You are the most epic troll I have ever seen here.
I salute you!
lol.
WTF?!?!?! I'm the number one troll around here.
nope, sadly, you're just run-of-the-mill fail.
Not even close, Mr. Expert Long Options "I Wouldn't Know a Spread if it Bit Me in the Ass" Trader Guy.
Now why would I have done a spread???
No, you'd rather put everything on black rather than using a trading strategy that makes sense. Because you're a fucking greenhorn.
The Bible says "in the Beginning there was the word." What makes this such a powerful place? "They deal in words at ZH." Talk God all you want Tex, but the Bible says "in the Beginning there was the word." Isn't it amazing how far a word goes AND comes back again!
I do this. Those big green numbers are a lot of fun, but those big red numbers are a bitch. Don't eat spicy food while you do this.
Silverrrrrrrr Bitchezzzzzz....
I just BTFD on APMEX.
Get physical silver, comrades.
they don't seem to have that many eagles (silver) left
I'm not sure if this is telegraphing anything new, but I've been tracking the BitCoin market rates and the current BTC/USD is at 3.455 with a recent high over 4.0 three days ago.
Some of the rally seemed to coincide with the dollar's down moves in other crosses. Volume spiked 10 times the average as well, but now is back to normal levels. Here's where to get charts if you are interested: http://bitcoincharts.com/charts/
(I'm looking at the mtgoxUSD chart, by the way.)
Disclosure - I have a small position in BitCoins.
That $4 print was right after it was announced that the lead developer at bitcoin is going to be doing an inhouse presentation over at the CIA. I kid you not, it made hacker news.
Yep, you're spot-on. Found the relevant post from the developer here:
http://www.bitcoin.org/smf/index.php?topic=6652.0
I'm not surprised the gov't knows, just not sure what they're going to do.
All the long-term fundamentals for silver are bullish. The margin hikes are desperation attacks and a sign that the end is indeed near.
I just wish I lived in another country to know PM's will be safe from outright confiscation. Is this what Dr. Michael Burry really meant when he said "open a bank account in Canada." Was he really referring to a safe-deposit box in Canada stuffed with PM's?
No, No, No, 6 string, the bullshitiness is for priceline and netflix and apple pie.
I agree that Silver has long term value. But that rise from 40 to 49 was just pure bubble. Even if we go back to 49 tomorrow, it was still a bubble. I am just saying, you guys are all talking your book. And getting your head handed to you!
Yep, it was a bubble, I've been sitting on the sidelines since $41... but there will be some BTFD moments soon.
I don't care what price will be in a week or two, Sir. I am not a trader. See, I collect coins. I have a wonderful edition of coins - dating to back to the Roman age.
Whenever I think of silver coins, I think back to the times of Potosi, times of people like Augustus, Tiberius - I think of Spanish conquerors, desperate to find new amounts of silver. I flip a coin from time to time and reflect what happened since then. I am well prepared for a disaster. I believe it will happen. But I don't fear an economic collapse.
The only thing I would fear is a world war. But even in this worst case, I'll probably be able to buy a mutated cockroach for dinner, when there is nothing left to eat ;).
We have a great and long family tradition. One day, my collection will go into the hands of another generation of my family. That day might not be far. I've enjoyed what I got. They need then to decide if it is important to continue or not. But no collection is more important than a human life. We were best prepared when Weimar hyperinflation happened, we still got the bank notes from that time, to remind us that no fiat currency is stable. As I've written in another thread, weeks ago, in the last century my family has seen 6-7 different currencies come and go - our collection, our silver and gold still was there. It has survived two world wars, it has survived a fire, survived burglars, thieves and it has survived banksters. There will be a day when it won't survive. That's life. But for now I am well-prepared and in the long run, I am sure something bad will happen.
Agreed. Europe has centuries of experience of burying the PMs in the back yard. I have often wondered how much was never recovered and is still there waiting to be found.
http://www.mail.com/int/news/europe/364430-austrian-athorities-reveal-fi...
Heck, there's piles of that even in the US. Europe must be rotten with it, A Romanian woman I used to work with said that people buried stuff en masse there when it was going communist, thinking it would "blow over" and noted that before the regime fell most of the people who'd buried their wealth had died and the rural areas where they did it have to a large extent gone back to forest (there was a big "relocate the serfs to the cities" campaign there at one time).
no such thing as a silver speculator is there. what was it that happened at the end of WWII? I'm unclear of the history on that one?
You are full of shit. Some us have held since $4.50 in 1999 and 2001. And most around here bought when silver was half this high. We have all made money, not lost it. Our "head handed to us"? Please. Look at the USDX for the real losers.
Good for you, if you indeed bought it and held it since 4 and change. But at half here, 20, your gain of 20, is like the round trip in the last 4 weeks. 40->49 and 49>40. That is why there is a bubble and it will continue to be traded. The ones who bought past 41 are getting smoked, but you don't care. So you are just talking your book.
i bought at $41. spot silver is at $41.75 as i post. am i smoked yet?
Good boy, learning not to BLA BLA BLA!
hey, congratulations. i see you have expanded your vocabulary by 500%. and in one day, too. you've gone from BLA only to 5 more words. good job.
And back to BLA BLA BLA!
Too funny... weren't one or both of you gunning for me?
Calm down people, why fight among the silver bugs?
CUZ THIS IS FIGHT CLUB DAMMIT!
Exactly. Everyone fights. Everyone learns. Everyone improves. Except the trolls. They just leave and come back with new usernames after every big run up to taunt us again how "this is the top" and "you should all sell your silver NOWNOWNOWNOWNOWNOWNOWNOWNOWNOWNOW".
If you bought physical, just hold it.
If you bought paper, get out on tomorrows bounce.
my physical has gone into the deep freezer, metaphorically speaking. i'll be a buyer until i run out of frn's.
I guess if you sell now, you'll lose some money. They hang for a few weeks/months, they'll be just fine.
The "bubble" is in the USD my friend, not gold and silver. Nice try.
The ones who bought past 41 are getting smoked
BULLSHIT
you have to sell to realise loss or gain
you are clearly here to incite
the 25% silver rise from $40 to $49 "was just pure bubble." thus, the > 100% s&p 500 rise from 666 to 1350 is a {fill in the blank}.
as mentioned, i eagerly await more pearls of wisdom.
40 to 49 in 5 trading days, with 4+% gain each day, with no drawdown==> BUBBLE.
S&P 666 yo 1350 took 2 years. (incidentally, I also think it is a bubble.)
There, you get this for free.
and to think in life there's no such thing as a free lunch. btw: ever heard of a poster at zh called danger time? your writing is almost exactly like his.
And you sound like so many other ones here that I can't even enumerate...
Nope, Dangertime is probably more into Silver than I am. I am just angry at ZH for its one-sided coverage.
actually i was hinting that you and danger are one in the same. some folks here have more than one identity to cover their tracks after blowing themselves up.
START WITH THIRTY TWO AVATARS
HAVE HALF EACH MONTH MAKE OPPOSITE PREDICTIONS FOR SILVER THE NEXT MONTH. EACH MONTH CULL THE HALF THAT MADE A WRONG PREDICTION.
THE LAST ONE STANDING HAS MADE SIX MONTHS OF CORRECT PREDICTIONS.
SELL 200 DOLLAR SUBSCRIPTIONS. TRY TO GET 1000 SUBSCRIBERS.
lol.
Damn, found me out, eh?
Yeah, truth is, I am all of the trolls. I did it for the lulz and subscription moniez.
Now that you mention it, tmosley, eisley and akak are eerily similar......
I can't even enumerate...
That's because you don't count.
Really? I don't think he writes like me at all.
well, kinda. probably seeing what i want to see.
Yeah, I think I am a poor writer, but they like to lump everybody together for simplication purposes. I hope you don't write like me.
Some of these guys are just plain idiots and they are pounding a single idea to the ground.
ZH, the quality of your news/posts are slipping... that is for sure.
Good luck to all.
lol someone pays for your advice and yet you're posting your 2¢ on ZH?
so let me get this straight: you're really expecting people to take you seriously...?
@6 String: "I just wish I lived in another country to know PM's will be safe from outright confiscation."
---
---
Colonel Smithers: Gentlemen, Mr. Goldfiinger has gold bullion on deposit in Zurich, Amsterdam, Caracas, Hong Kong... worth 20 million pounds. Most of it came from this country.
James Bond: Why move it?
Colonel Smithers: Because the price of gold varies from country to country. If you buy it here at 30 dollars an ounce, you can sell it in, say, Pakistan for 110 dollars and triple your money... provided, of course, you have the facilities for melting it down.
James Bond: And has he?
Colonel Smithers: Apart from being a legitimate international bullion dealer, Mr. Goldfinger poses... no, that's not quite fair... *is*, among his many other pursuits, a legitimate international jeweler. He's legally entitled to operate modest metallurgical installations. His British one is down in Kent. We have yet to discover how he transfers his gold out of the coutry... Lord knows we've tried.
[to M]
Colonel Smithers: If your department can establish that it is being done illegally, the bank can institute proceedings to recover the bulk of his holdings.
James Bond: I think it's time Mr. Goldfinger and I met... socially, of course.
-
thx, Muir.
I've been wanting that quote. TY
...and they played a memorable round of golf.
he was right, why?
because the gornment can change the rules anytime.
look back to the hunt brother times. COMEX went so far to cancel buyers out@
Autsch for their fiat silver positions, else they would be part of ruling this world today.
Here's a shocker for you: 26 (I believe) US States forbid their citizens from holding PMs in other countries. I found this out when I tried have an account at Montreal Brinks set up through Kitco. They will not sell Perth Mint Certs to US residents of those states for the same reason. Blew my mind. So I took my bars in the US -- btw, no problem for those who have wondered about Kitco Pool accounts -- they had the bars identified in minutes.
Unfortunately, due to the Model State Commodities Code in the United States, residents of the states listed below are prohibited to own bullion products held outside the US and therefore not eligible for the CAS program.
Arizona Idaho Minnesota Nebraska North Carolina Washington
California Indiana Mississippi Nevada North Dakota
Colorado Iowa Missouri New Hampshire Oregon
Georgia Maine Montana New Mexico Utah
http://www.kitco.com/cas/
Bastiat, good reporting!
+ $1530
Al it takes is a reinstatement of Kennedy's Executive Order 11037 and it goes national for Americans.
I see silver soaring if it's "balls to wall" with the Paki's. What does "balls to wall" mean anyways? Anywho--of course you want your PM's physically located in Canada because it's still legal tender there...and probably always will be.
look it up, it means on a boat, full throttle...
This refers to when Leo and RobotTrader, while standing up, are taking it from behind from Bernanke, Geithner, Dimon et al, and are getting so forcefully reamed that they are pushed, balls first, right into the wall in front of them, as the banksters plow them with savage delight.
PS: They both totally enjoy it that way.
your poetry is not as good as your passion for PM bugs. Go bang a fly on the run and empty your bile in a moth ball.
I buy British Brittanias in Canada on an annual holiday, and Canadian Maples in the UK during the rest of the year. I don't want either Government knowing what my holdings of their own coins are.
interesting. "and is this how the banks do it too?" do you think?
COMEX info is easy to find... where's the LBMA data/charts/graphs/inventory levels/trade volumes etc?? Isn't the LBMA supposed to be even bigger than the COMEX? Is this a single bullion exchange issue, or a global exchange issue? How many other exchanges are there besides COMEX and LBMA? What about Asian markets?
I'd like to see a more global picture of Physical depletion.
/no sarc
Thanks!
The LBMA stopped publishing this information several months ago. For no particular reason, I assume.
-
Smeagol: "Mustn't go that way! Mustn't hurt the Precious!"
-
Hilarious ! I have an ear-to-ear smile. I was watching that last night !
Tyler the chart shows registered not eligible
I concur.
That should garner you captcha-free membership.
Yes, corrected
25% of the "Registered" is about 8 million ounces. This seemed to be the magic line when they used the entire month of March to dodge the last primary delivery month bullet. Then it was around 40 mil "registered" and 11 million standing for delivery. Of course it's hard to tell what the "Longs" have in mind with their strategem. They may intend to implement a fiat settlement bloodletting extortion plot over a longer time frame and squeeze the vise slowly on the Bullion Banks using the primary months as battleground targets.
I'm hoping for more vicious volatility....it would be entertaining to watch it unfold
(When is we gonna see Bankers jump outta tall buildings Mommy? I wanna see! I wanna see!)
(When is we gonna see Bankers jump outta tall buildings Mommy? I wanna see! I wanna see!)
That would be their easy way out.
Once the people know their roles in Greatest Ever Robbery that has taken place they will be skinned/scalped alive like the Red Indians did to their enemies.
I am so glad all I deal with is the physical.
OK, let's smoke out all the seers here. I have a hunch "they" are trying do drive it down to the magic $40, even if they can only get $39.99. Any guesses?
James Bond: You'll kill 60,000 people uselessly.
Auric Goldfinger: Hah. American motorists kill that many every two years.
James Bond: Yes, well, I've worked out a few statistics of my own. 15 billion dollars in gold bullion weighs 10,500 tons. Sixty men would take twelve days to load it onto 200 trucks. Now, at the most, you're going to have two hours before the Army, Navy, Air Force, and Marines move in and make you put it back.
Auric Goldfinger: Who mentioned anything about removing it?
[Bond is stunned into silence]
Auric Goldfinger: The julep tart enough for you?
James Bond: You plan to break into the world's largest bank, but not to steal anything. Why?
Auric Goldfinger: Go on, Mr. Bond.
James Bond: [thinking] Mr. Ling, the Red Chinese at the factory, he's a specialist in nuclear fission... but of course! His government's given you a bomb.
Auric Goldfinger: I prefer to call it an "atomic device." It's small, but particularly dirty.
James Bond: Cobalt and iodine?
Auric Goldfinger: Precisely.
James Bond: Well, if you explode it in Fort Knox, the... the entire gold supply of the United States would be radioactive for... fifty-seven years.
Auric Goldfinger: Fifty-eight, to be exact.
James Bond: I apologize, Goldfinger. It's an inspired deal! They get what they want, economic chaos in the West. And the value of your gold increases many times.
Auric Goldfinger: I conservatively estimate, ten times.
James Bond: Brilliant.
Exactly.
after that sequence it wasn't golf it was banging hard his bird...he as so excited...Ian Fleming knew his table manners of shaking a bird not stirring her...
I don't really think they want to drive it down to some magic number.... what would a certain number DOWN mean? Not much... if they're concerned about a specific magic number, then this would be preventing it going above 50 and surpassing the historic high.... not because of the high itself, but because surpassing that, would be mainstream news.
Even though I predicted this last hurrah to suppress Gold/Silver prices on an April 23 post, ( #1199534)
What I don't understand is why does anyone need comex? You can buy bars from other sources and have them delivered by Brinks trucks anywhere. You may have to pay a bit of a premium, but so what?
Traders that really want the metal in large amounts would go to London's exchange for it. The Comex was built to be a Casino Hall for hedgers and speculators looking to manage risk and manipulate the price discovery mechanism. That is what seems to be the crux of the matter as of late....that the "Market Makers" were taking excessive liberties with their omnipotence and not letting PM's adjust for the expansion of the global fiat supplies (inflation).
At least that's the theory that I subscribe to. Whatever the truth is...i enjoy the 2 opposing factions playing some "chin music" on each other....while Rome trudges along in the graveyard...looking for it's final resting place to take it's proper Dirt Nap
This is something which i wondered myself and did not understand (relying on a low amount of centralized markets), but i didn't ask that question so far, because i assumed that i was just ignorant and unexperienced, and that there would be an obvious reason.
LOL!! That's what it's all about right there... Ever tried to fill a tooth with a FRN before?
Ever try to snort coke with a silver coin before?
:P j/k
No, I haven't. But they work when filling the g-string of a shaved beaver.
Tips Gentlemen Please
My broker used to sell 'your name on it' Gold and Silver bullion but now it's just London PM's paper contracts! ...anyone know how i buy Silver bullion with my name on it (unlikely i'd take delivery) and a liquid market for easy buying and selling? ...Thanks
There are laser engraving machines around. I would call a local label printer to see if they have one, or know anyone who does.
I got some wine bottles engraved that way. Made for excellent gifts. Wish I had thought of silver for that.
I assume by 'Your name on it' you mean allocated metal held specifically on account for you only, rather than a pooled arrangement. If so, try Bullionvault.com - they might meet your requirements. Have a read of their T's and C's, particularly the legal structure under which they hold your allocated metal as a 'Bailment', with no ownership rights or claims at all over it available to them.
Change your name to Mr. Heraeus and you will be all set. Or you could become Pamp Suisse, dandy of the neighborhood and have your name on all kinds of fun stuff.
Quintis - many thanks :)
TM and West - your previous lives as turnips had a higher calling
Thanks a bunch. Right back 'atcha.
a bunch of turnips? ...don't bring family into it!
Is English your first language? Either way, you need to work on your communication skills.
I have bars in my possession that have other people's names engraved on them, and others that have plaques that are clearly for that purpose.
as mentioned yesterday if tptb hammer silver down there are tens of millions of folks ready, willing and able to buy the physical. and as we've read the pboc or some other chinese entity will possibly take them up on the firesale offer and take delivery out of the comex vault as well.
nothing has changed. gold has barely budged. oil is strong. deficits remain. and the fed is the buyer of only resort of treasuries.
i'm buying more.
You write nothing has changed but I have made note of something lately. The rumblings I am hearing from Johnny McDonalds and Janie Starbucks are much more negative than they were even a year ago. I have been shocked at how negative the comments about the economy are and these are coming from people who wouldn't know what Zero Hedge is if it bit them on their face. Something is happening here and I don't know if Mr. Jones knows what it is.
good points. i will agree 100%. with the labor participation rate as low as it is, and with good blue collar jobs hard to come by, folks can smell the danger.
perhaps we are in a depression and nobody(MSM) told us.
with the stock market propped up, how would an average person know? other than not having a job.
if everyone else loses job then it's recession. If you lose your job, it's depression. People simply don't see it until it is their turn to sleep on the street.
Seconded. btfd.
"people" don't bring down Silver markets: governments do. "the question is is there a sovreign buying up all the silver in the world." China comes to mind. And of course "word on the Street is now China's a bubble."
i'll disagree that people don't bring down silver markets. if enough folks buy silver they might. only one way to find out.
you and i can bid up a market--but bring it down? these are precious metals. look at the commentary. it's all "buy, buy, buy." that's just what those who have literally TONS of silver want. maybe i should put it this way: "is there a country on the face of the earth that is willing to create a currency backed by silver?" and "if that were to happen would then would the greenback and ultmitately the solvency of the United States be called into question?" AGAIN: "the ZH rumor is that JPMorgan hedge's silver with copper." Why not dollars or debt?
ok. i see what you mean by "bringing down." i agree with that.
On another subject, more hedge funds are blowing up as we speak.
FSLR and LVS down 10% while GMCR is rocketing up 19% after hours.....
Where are the people to point out the GMCR bubble? They sure seem certain that silver is in a bubble. How about LULU and NFLX. I know which I would rather own.
Don't get me wrong Robo. This is not a shot at you. God knows you take enough of those. I actually like your little snippets. I just miss the pictures. Those were good. I think you nearly got me fired a couple times when I was reading at work. I believe it was the mesmerizing photo of Shay Laren.
Just like the gold vigilantes bust the cartel fixing the oz dollar price of gold at around $50 way back when - 1968 thru 1974 - taking it to $200 so will the silver vigilantes bust this cartel.
Endeavour Silver's Chairman & CEO Bradford Cooke recently said "There is not enough silver in a blackberry device to affect the price of the blackberry but there are most certainly enough blackberries to affect the price of silver."
Whereas most of the 99.9% pure gold refined over the millennia is still around, most of the 99.9% pure silver refined over the millennia will never be recovered since it has been consumed in trace amounts by most of it’s industrial uses and is ending up in landfill.
Any correction will only juice up the next surge higher - BRING IT ON!
With respect to Mr Cooke, I disagree. I have personal experience with electronics manufacturers and contract manufacturers citing gold and silver input costs on PCBA's. I'm not saying it's huge, but neither is the margin in a Blackberry.
agreed. And of course "RIM's stock has been annihilated as well." Are there any Silver utilities?