• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

China Imports 245 Tonnes Of Silver In February And Qatar SWF “Interested” In Buying Silver

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Mon, 03/21/2011 - 09:35 | 1081386 66Sexy
66Sexy's picture

Big moon, big silver.


m-o-o-n. that spells 'silver'.

Mon, 03/21/2011 - 09:41 | 1081419 eigenvalue
eigenvalue's picture

No, silver should go to The Andromeda Nebula!  Moon is a too conservative target!

Mon, 03/21/2011 - 10:44 | 1081694 SilverIsKing
SilverIsKing's picture

Actually, it's a silvery moon


Mon, 03/21/2011 - 13:49 | 1082381 dlmaniac
dlmaniac's picture

UN is about to establish a No-Silver zone in Qatar citing their evil attempt to bust the innocent JPMorgue as the reason.

Mon, 03/21/2011 - 10:06 | 1081516 Thomas
Thomas's picture

So how can the Chinese be importing that much when the above ground supplies are reputed to be about a billion ounces? Something ain't addin' up.

Mon, 03/21/2011 - 10:18 | 1081588 tmosley
tmosley's picture

IIRC, they have purchased a number of mines around the world, and are simply diverting the silver produced there back to China.

Mon, 03/21/2011 - 10:20 | 1081590 Turd Ferguson
Turd Ferguson's picture

Maybe the Chicoms will finally be able to drive it thru $36.


Mon, 03/21/2011 - 10:20 | 1081600 EscapeKey
EscapeKey's picture

The paper or physical variety?

Mon, 03/21/2011 - 17:00 | 1083145 Zero Govt
Zero Govt's picture


Elliott (Idiot) Wave will drive it through £36.00 ...everytime these retards predict Gold and Silver to drop they rise. The morons did it again last week and sure enough this week up they go

Rob Prechter and Steven Hochberg are like clowns at a kids party blindfold trying to pin the tail on the donkey. They've been pinning the tail (5th and final wave) on Gold and Silver every month since May 2009 and it's beyond a farce. The failure rate for their predictions "technical indicators" is above 90% which is worse than a blindfold (and drunk) clown

Prechters Elliott (Idiot) Wave clowns need your help ...in fact a 9 year old kid tossing a coin (50/50) could beat Prechters Idioticians by a factor of 500% on predicting the PM, stock indexes and US Dollar direction

Mon, 03/21/2011 - 10:19 | 1081593 Long-John-Silver
Long-John-Silver's picture

Paper to infinity baby!

Mon, 03/21/2011 - 14:16 | 1082481 SilverTech
SilverTech's picture

245 tonnes is about 8 million toz. Not really that much when silver production is about 800 million toz per year.

Mon, 03/21/2011 - 19:17 | 1083683 DosZap
DosZap's picture

Likely all they could get their hands on at THEIR price.

Mon, 03/21/2011 - 20:27 | 1084003 Math Man
Math Man's picture

China is insignificant compared to SLV.  SLV increased holdings by almost 8mm tons on Feburary 24th alone!

As SLV holdings go, so does the silver price. 


Mon, 03/21/2011 - 10:26 | 1081605 mark mchugh
mark mchugh's picture

Laws, yes!

Didn't care much for the book, but the reference made me laugh out loud.

Mon, 03/21/2011 - 10:57 | 1081766 Oh regional Indian
Oh regional Indian's picture

Indeed. In all my years of buying, this is the first time (last week) when the dealer took a deposit as there was NO physical available. supposed to deliver last Saturday, but has not called. India has been gold-blinded for ever. Just now waking up to SIlver as an investment alrternative.

Pretty interesting. And the big moon was the pull. I expect Silver to disconnect and take off shortly. Shortly!!! Hah!


Mon, 03/21/2011 - 12:03 | 1081978 chopper read
chopper read's picture


Mon, 03/21/2011 - 19:17 | 1083691 DosZap
DosZap's picture

What pays a Dividend that you can trust?

Nothing in this country.

Mon, 03/21/2011 - 09:38 | 1081391 LoneStarHog
LoneStarHog's picture

/Sarcasm On/ Yeah ... well ... apparently these countries are not reading the works of Karl Denninger at The Market Ticker. I'll have another glass of Kool-Aid, thanks. /Sarcasm Off/

Mon, 03/21/2011 - 12:44 | 1082062 Bay of Pigs
Bay of Pigs's picture

Like many, KD is willfully blind and ignorant to something so obvious and yet, chooses to ignore it. History and the facts are not on his side. 

His reputation (whatever is left of it) will be shot to pieces soon enough. 

Mon, 03/21/2011 - 13:12 | 1082231 Eternal Student
Eternal Student's picture

I'm curious. Does anyone happen to know Denninger's actual educational background?

The reason why I ask is that he's done a lot on energy and Japan recently, and made an incredibly stupid comment. I have to wonder whether he's ever done a thermodynamics problem in his life, let alone passed a class in it.

Mon, 03/21/2011 - 09:40 | 1081394 Azannoth
Azannoth's picture

The chickens are coming home to roost

Mon, 03/21/2011 - 09:40 | 1081406 EscapeKey
EscapeKey's picture

It's baked into the pie.

Mon, 03/21/2011 - 09:45 | 1081435 Sudden Debt
Sudden Debt's picture

Fried or non Fried?


Mon, 03/21/2011 - 10:23 | 1081602 Long-John-Silver
Long-John-Silver's picture

You always boil the chicken you bake into a pie. Did you learn nothing from your grandmother?

Mon, 03/21/2011 - 10:42 | 1081685 Sudden Debt
Sudden Debt's picture

Quit a few things actually:

If somebody is down: KICK HIM IN THE FACE!

If you want to get lucky, GET THEM DRUNK!

If you want something you can't afford, TAKE IT WITH FORCE!


as a 12 year old, it was hardwarming for me to learn the good old traditional values of life from here. To bad she passed away to early... like my uncle always said: In and out in 5 minutes, we'll get the rest in another bank.

To bad her watch broke that very same day...

Mon, 03/21/2011 - 14:51 | 1082557 tmosley
tmosley's picture

Are you Blythe's grandson, by any chance?

Mon, 03/21/2011 - 09:40 | 1081399 doomandbloom
doomandbloom's picture

Invasion is so old school....the latest hi tech trend is 'revolution'..

a)Activate sleeper  cells. b)Garner some local antisocials. c)Send media in for a completely one sided coverage.d) Make a hue and cry about human rights e) Get UN to approve an invasion

If China and Iran continue like this....expect them to be revolutionised..( google has already started making noises today)

Mon, 03/21/2011 - 09:40 | 1081403 CH1
CH1's picture

How much does it cost to buy one futures contract for silver and hold for delivery?

Please give precise figures if possible.


Mon, 03/21/2011 - 09:41 | 1081414 Azannoth
Azannoth's picture

I think it's in the hundreds of thousands

Mon, 03/21/2011 - 09:42 | 1081415 CPL
CPL's picture

All you need to do is buy physical silver.  There is no hedge in paper.  At least if physical tanks you still have silver in your hand.

Mon, 03/21/2011 - 09:47 | 1081440 Sudden Debt
Sudden Debt's picture

No hedge in paper silver? :)


I just rebought these warrants today :)



2012 38 1/4


Mon, 03/21/2011 - 09:44 | 1081423 EscapeKey
EscapeKey's picture

5,000 oz x 7.5% margin = 5,000 x 36 * 0.075 = around $13k for the initial contract, but your margin requirement might need an occasional topup...

Of course, final settlement means paying the balance, so total cost = 5,000 x 36 = $180k.

Mon, 03/21/2011 - 12:47 | 1082106 The Grip
The Grip's picture

Whoever junked this gets an extra day as the Bernank's tapeworm in the next life.

Mon, 03/21/2011 - 15:26 | 1082759 Banjo
Banjo's picture

I really hope this was junked by accident. It containts nothing but factual and accurate information.

Mon, 03/21/2011 - 19:23 | 1083707 DosZap
DosZap's picture

Blythe did it, your making her life hell.

Mon, 03/21/2011 - 10:31 | 1081638 Abitdodgie
Abitdodgie's picture

One contract is 5000 oz , so it is about $175,000

Mon, 03/21/2011 - 10:59 | 1081771 kkam
kkam's picture

A spot contract is 5000 oz. I believe the Comex futures contract is the same, so 1 comex contract = 5000 x 36 = 180,000 dollars. Note, most futures contracts are bought on margin.

Mon, 03/21/2011 - 11:34 | 1081880 Richard Head
Richard Head's picture

Has there yet to be one ZH reader who has stood for delivery and documented the process?  I would love to try it, but $180k is outside my means.

Mon, 03/21/2011 - 12:19 | 1082002 CD
Mon, 03/21/2011 - 12:59 | 1082160 tiger7905
tiger7905's picture

Interesting story on taking delivery.


I use sprottmoney for purchases, they only sell what they have. Yes, we should be realistic that Sprott is playing both sides of the fence but at least you can get supply.
(FYI: I have no association with Sprottmoney, other than their office is conveniently located 3 blocks from mine.)

Mon, 03/21/2011 - 09:39 | 1081404 John McCloy
John McCloy's picture

  I found that the best example in unlocking a mind and getting them to understand how dangerous the Fed and money printing has been for our economic health is to use the silver quarter analogy. 

  I ask them if they are aware that a quarter pre 64 is 90% silver. Most are not. I ask them if they are aware that because silver is 36 an oz that this quarter has a melt value north of $6.00. Always wakes them up and 100% had no idea.

Mon, 03/21/2011 - 09:59 | 1081486 nevadan
nevadan's picture

For those old enough to remember 25c gasoline it always raises eyebrows to point out that in terms of silver the price of gas is now lower than it was in the early 60's.

Mon, 03/21/2011 - 09:40 | 1081411 sudzee
sudzee's picture

The Royal Canadian Mint issued 1/4 oz silver coins with a face value of $20.00. The issue was sold out in a few days. The face value of the 1/4 oz coin may be a reflection of the anticipated future price of silver of $80.00 per ounce as accessing supply of bullion is becoming difficult at this time.

Mon, 03/21/2011 - 10:00 | 1081496 luk427
luk427's picture

The Canadian mint is having trouble obtaining silver. With these coins they are getting min. $80.00/oz instead of $34-36+ prem./oz for 1oz maple. They are making way more money with an oz of silver. Melt value on this new coin is $9.00. It will protect your down side but but on melt value you won't start making money until silver is at over $80.00 /oz. Buy Maples.  ( $20.00 coin only contains 1/4 oz silver.)

Mon, 03/21/2011 - 10:15 | 1081570 kadriana123
kadriana123's picture

I see Apmex seems out of a lot of Canadian coins and won't be getting more in for a coupleweeks. They have a fute date next to their American Eagles too.

Mon, 03/21/2011 - 10:54 | 1081738 Temporis
Temporis's picture

"This new Canadian silver commemorative coin is legal tender with a value of $20. It is available for the official price of only $20. You simply exchange $20 from your wallet for a $20 coin of pure 99.99% silver."



Sounds like they are preping for silver to hit $80 an oz.

Mon, 03/21/2011 - 09:41 | 1081413 Life of Illusion
Life of Illusion's picture



Not to long ago Central Banks told us they would sell their gold and silver..



Mon, 03/21/2011 - 16:36 | 1083118 Zero Govt
Zero Govt's picture

Buy Silver in, US Dollars out (rid of) ...what's not to like for the Chinese?

Mon, 03/21/2011 - 09:42 | 1081418 True.North
True.North's picture

Thank you Benlzebub, dark prince of gluttony

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