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First Gold, Now Europe Running Out Of Silver
Earlier we noted that the Austrian mint was on its way to depleting its gold reserves following "panicked buying" from Europeans, who now openly fear the demise of their currency. Now, courtesy of Slim Beleggen, we understand that the situation in the silver market is just as bad and has also spilled over to Germany: the contagion is no longer one of sovereign debt, but of precious metal physical inventory. The primarily silver focused (but holding gold as well) Kronwitter precious metal online retailer is not only not accepting any orders, but has entirely taken down its website.
The only message left for visitors is (translated from German) as follows:
Dear customers,
due to the enormous number of orders we can take at the moment no new
orders via the Internet, email or fax contrary. All previously purchased and paid for coins are shipped. In order not to delay the extradition unnecessary to ask is to refrain from requesting payment or tracking number. When shipped our you will automatically receive a shipping confirmation. We hope to do everything within two days and then re-open the shop to buy. Thank you for your understanding. Marie-Luise Kronwit
Soon coming to an LBMA vault near you - a run on physical and a total collapse of the 100x diluted Precious Metal market.
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I'm gonna have some gold/silver home buying parties and buy a pawn shop!
Damn fine idea. Then sell it to History Channel. be a star.
Oh my gosh. This is pandemonium.
What about the dentists?
Will the teeth of Americans now resemble those of the British?
And what of Obamacare? They - obviously - never figured in the increasing cost of gold and silver when calculating the "decreases" in health care costs!
We are so hosed, but I still have my palladium.
;)
very nice :-o
no doubt - especially if you only have to pay the rates the 'cash for gold' places do.
Source is in Dutch, not German.
http://translate.google.com/translate?hl=en&sl=nl&tl=en&u=http%3A%2F%2Fw...
Ya but it's confusing. Germans say You speaky de dutch. Spraken de deutshe. So you gotta realize that german people speak dutch. I know it's confusing.
Ja. Hier ist Herr Jim Villie. Ausgezeichnet!
http://www.marketoracle.co.uk/Article19442.html
wundebar! supa! wir mussen alles gold gehaben jetzt!
herr villie is eine ubermench...
Nein, Niederlaandish is nur schlechtes Deutsch!
Also Also, Dutch oder Deutsch. Ich bin ein Amsterdammer. Smelten Sie meine käzen und anschau diese goldmachinen.
Only in Abu Dhabi, the first gold dispenser: http://www.rtl.nl/components/financien/rtlz/miMedia/2010/week19/do_1300_goud.avi_plain.xml
yeowsah. And it begins.
If you want physical silver, try here...
http://www.store.firstmajestic.com/default.aspx
They still have good stock, well priced.
I have found both the product and service to be top notch.
or if you live in the uk. you can get them here. http://www.sarniasilver.com/firstmajesticcoins.html
vat free.
What do the Canucks charge for shipping to US?.
Customs charges?.Also?.
Mine was shipped to NZ, so I don't know, but I did think it was pretty cheap.
$20.30/oz is quoted price today.
www.trustedbullion.com
free shipping.
www.trustedbullion.com
free shipping.
Choice getting limited at Sarnia as well now!!
There are several recent reasons for silvers recent runup.
1) Gold is surging due to recent $1 Trillion Europe Bailout and huge demand for precious metals by Europeans.
2) Scramble by a hedge fund to cover 10 Million ounce short.
3) JP Morgan investigation for manuipulation of silver market. They can no longer hold the price by shorting more paper while under investigation.
Smart money knows they are dead in the water as any attempt to cover will cause an exposion in the silver price.
4) Central Fund $375 MM raise yesterday means they needed almost 10 million ounces of silver. This has essentially dried up any supply to the Comex and LBMA.
from Ed Steers.... http://www.caseyresearch.com/displayGsd.php
"The first story today pertains to the wildly successful offering by the Central Fund of Canada yesterday. It was the biggest offering in the company's history... and they raised US$376 million, which includes the underwriter's rights. This translates into about 7.8 million ounces of silver and around 151,000 ounces of gold. I wonder how long it will take them to get all that silver? It's a bit over four days of world silver production... and as you know, dear reader, this kind of quantity is impossible to find in the open market. So, without doubt, they will be standing at the refinery door waiting just like everyone else... including SLV. The headline of the story reads "Central Fund Increases Equity Offering to U.S.$376 Million as Underwriters Exercise Their Rights to Purchase Additional Class A Shares"... and the link to the yahoo.com story is here."
5) SLV is way behind in obtaining physical silver bars to allocate to its ETF holdings. Estimates on how much they still need varies but I would guess its as much as 50 MM ounces.
6) Essentially the silver coffers are dry amongst record demand. It will take prices well above $50 oz to draw any silver back out into the market.
Nice...Got Gold???
a preview of what's to come here when the people wake up. Get some physical while you still can!
But what if the wearwolves come back... and the vampires...
Dude... are we in a mess or what...
the zombies...
The kind you have to shoot in the melon.. that's what my .308 is for :)
.308 double tap to their dead heads....
The movie is wrong.
.308 no double tap required.
.380 definitely double tap, or better yet, Mozambique. 2 in the chest, one in the head.
Even better, screw the .380 and get a Rohrbaugh R9 for less than an oz of Au and it still fits in your jock strap.
Or best, and you know what I am saying darling....
Saiga 12 , bitches!!!!!!!!!!!!!!!!!!!!!!!!
During times like these desperation at times leads to suicide and murder.
Please remember me in your will. Thank you in advance.
You are coming along merehuman...looks like MsCreant got through to you and good to see your sense of humor coming through! Nice post.
.308=nothing left of head after 1 shot.
Saiga 12 FTW(CQB)
Japanese steel...
you don't have to reload a sword
I hope all those derivatives JPM has puts their ass out of business forever.
you and me both
Thats your sign post up ahead,your next stop, the no PM zone
Yeah I saw that episode. You know how it ended? The government required everyone to redeem their PM holdings for Treasuries at a set price within 30 days or face a felony.
I don't see how anyone sees pushing the fiat govvies into a PM-free corner is going to end in anyway other than martial law. Remember, these people are modern-day Visigoths.
...yeah, but the visigoths were defeated as well.
Gott mit uns...
Time to take delivery, if you're in paper. Run don't walk.
Time to get the final preparations in place, TSHTF very soon. July is my bet, if we're putting down lots. Smoke'em if you got'em.
PS Better get any cash you might need out of the banks too, if you haven't already.
Oh but the comex can settle in cash..It says so in the fine print..
I've often wondered how exactly this worked.
It would be like going into a store and saying "Here's $100.00. I'd like that coat there with a $100.00 price tag on it. The clerk then takes your $100 looks at it and then hands it back to you and says "OK, we're all settled up then."
How long would this store stay in business?
So I'm trying to buy Silver for cash, but instead of Silver, your just giving me my cash back?
WTF?
Actually, it is like the store owner saying that he really doesn't feel like selling the coat anymore and gives you back $125.
Not much help if you needed the coat because you were cold.
Especially since now, when you look around, the prices of coats in every store are now $130.
And to extend your analogy a bit, once you are dead from exposure because you couldn't get the coat when you needed it, the coat merchant rifles your corpse for the $125 he "returned" to you, knowing for a fact you have that much at least on you.
They want to know who wants gold, then they know who to go after when they want all the gold back. It's worse than a bad transaction ... it's a trap.
I don't get it. You can buy 400 oz bars for $497,600 each at this moment by phone and have them delivered by armored truck anywhere in the world. Why do you want to deal with comex?
https://online.kitco.com/bullion/completelist.html
Cause I'm 25 bucks short!
(Ernie laugh) k-k-k-k-k-k-k
If only I had traded in my Ca RE, pre crash, in for 3 of those 400 ozers,
being 25 bucks short wouldn't be an issue! Yah right...
guffaw
LMAO...I'm $42 short.
Phucked.
Haggle with them. They'll do it to make a sale. This is how I got my $80,000 dollar porsche for the low low price of $79,950. Because they had pity on me. And I totally took advantage of them.
Good price for tungsten, IMHO
Get possession of physical PM so you don't end up like Admiral Ackbar
http://www.youtube.com/watch?v=dddAi8FF3F4
I don't know what the hell it was about, but I got more laughs out of this...
http://www.youtube.com/watch?v=TtRU25790XI&NR=1&feature=fvwp
Hey Rusty
Wrong example. You go to the store, buy the coat for $100, and tell the store owner to hold the coat until you come back.
Meanwhile, the store owner sells your coat to someone else, over and over again.
Then you all come to the store looking for the coat that you all think you own.
And there are no other coats in the store. Welcome to the world of Fractional Ponzification.
oldest trick in the book. I used to hear about people getting punked with their cars. They'd buy a car, find out it was stolen, then it would get stolen and sold again.. and again. and again..
And THEY CHARGE YOU A STORAGE FEE THE WHOLE TIME!!!!!!!!!!
The theory is (as the exchange's defenders are at great pains to explain) that the vast majority of the "buyers" on the exchange NEVER expect to take delivery, and the vast majority of the "sellers" on the exchange NEVER expect to have to make good on their offer of metals, but both are actually take a bet on the direction of price fluctuation over the contract period and plan to settle the difference in $FRN.
Weird how that's considered "price discovery" in a real-world virtually non-consumable commodity, but that's the "excuse" they defend.
Love the analogy, BTW!
You opened up a point likely VERY well known to 98% here.
ALL the Physical ETF's, and Physical Holders( BullionVault, etc), are subject to Gv't seizures.
There is nothing they can do to protect your GUARANTEED ,ALLOCATED holdings.
It would MAY be a tad more difficult if your holdings are in Zurich, rather than U.K., but....once the Swiss buckled..........bottom line, we are all SOL.
IN your control trumps any form, IMHO.To get you a felony conviction, they have to find it first.
And if it get's that bad.......................well, you'd best already know what you intend to do.
Chances are much higher that you will be subject to a home invasion robbery and at the risk of having your head blown off you'll give up your "in your control" PMs than the US government seizing gold from a private Zurich vault.
It doesn't matter how clever you are at finding hiding places or how secure your safe is when somebody has a gun to your (or your wife's, son's daughter's) head(s).
There are ways to the fact that you own PM's and guns.
Not that I know from experience.
Chances are that you either an idiot or a bankster-paid troll, with your scaremongering and wild exaggerating of the threat of home break-ins and violent death at the hands of burglars.
The original poster was exactly correct: the MUCH greater risk of losing one's wealth, in ANY (and every) form, is from our increasingly tyranical and rapacious government, NOT from isolated individual thefts.
Thefts aren't so isolated when they're happening to you. Gerald Celente predicts an increase in this type of violent crime. I don't disagree. I live in the Bay Area. Plenty of violent crime going on today already. That's only going to get worse as police forces are being cut and prisons are being emptied.
Chances are I touched on a subject that you'd rather not think about. Why is insurance not available for your home gold/silver stash at any price?
The threat from government is the best reason to vault overseas outside of any banking institution.
Thefts are probably rampant in the Bay area where you live due to gun control limiting or preventing honest citizens from defending themselves from intruders, any of whose lives are immediately forfeit by virtue of breaking into someone else's home.
Where I live, there are FAR more gun owners than non-owners, and coincidentally (or not), home break-ins rarely occur, and are almost a sensation when they do happen, as any would-be intruder around here is essentially almost committing suicide by attempting to do so.
Besides all that, hiding even $500,000 worth of gold securely in one's home is almost child's play, and to suggest that one takes one's life in one's hands by doing so is to argue that one also is taking one's life into their own hands by merely living there. If you feel you are safe at night in your own home, then why are your hidden posessions not as well?
Lacking ANY other alternative, one could always use the time-tested method of burying one's gold in one's backyard. Primitive, but effective.
I think the largest contributor to the danger of theft of anyone's private stash of gold or other valuables are that person's own loose lips.
Barmaher,
How will you know which homes actually have PMs? BTW, my wife, son, and daughter have all taken a long vacation. You are SOL.
If things ever get to the point where we need to actually use or PMs for food or other necessities then it will become apparent who has PMs and who doesn't. Hope your wife son and daughter are enjoying their trip.
At the risk of feeding the trolls, an explanation of the risk(s) that individual homeowners may face when TSHTF...
Bad guys will ransack urban & suburban businesses. Among those businesses are locksmiths, hardened safe sales, etc. Receipts will be combed-over for obvious/primary targets. Many believe that bad guys HAVE ALREADY harvested such key purchase/delivery records electronically (incl. PM sales) and many homes/targets have already been staked-out.
Before you dismiss such a scenario as extreme paranoia, consider the fact that our government does EXACTLY THE SAME SORT of transaction/receipt/delivery record collection and analysis, for similar reasons (confiscation, agitator profiling).
Bottom line is that there are people out there who actively harvest and analyze purchase and transit records, and they know a great deal about what you have hidden or locked away. The only question is whether these same people will one day ACT on the data...
I understand your point...but if the economy collapses..getting that gold from Zurich to the house so you can spend it for food and water...might be a little difficult. Always have at least some on hand. Bury it somewhere if you are worried about being robbed..seriously.
http://www.savvysurvivor.com/supplycache.htm
I agree with that 100% and keep an emergency supply on hand in case things get like you've described.
Oh no the gold bugs and silver bugs are doomed. If there's none for sale how can it's price go up? LOL
I think moodys just downgraded the comex to junk status...
I wonder what an ounce of silver, deliverable today, would fetch in Europe now?
It doesn't matter. You can't even buy silver with gold much less eat it. It's worthless. Worthless I TELL YA. We've been had. Hoodwinked Bambooozled!!!
LOL, you left out "hornswaggled, so I will most graciously add it in for you:
It doesn't matter. You can't even buy silver with gold much less eat it. It's worthless. Worthless I TELL YA. We've been had. Hoodwinked Bambooozled Hornswaggled!!!
There, its done. Time for a nap...
What about "enfirouaper"?
You woke me up for that? Ok , here goes:
It doesn't matter. You can't even buy silver with gold much less eat it. It's worthless. Worthless I TELL YA. We've been had. Hoodwinked Bambooozled Hornswaggled Enfirouper Betrogen Ingannato Estafado Enganado!!!
Threw a few other languages in there so that no one fells left out
I happen to agree. What good is Gold if the Country is in shambles? Another ponzi scheme in my opinion.
Gold has no industrial use. You cannot eat it. You may not be able to exchange it for food or other needs.
Why are they trying to get People to buy Gold? Is it to take Money out of the Economy and the Money system?
Uh oh, you hear that guys? We can't eat gold!
Have you EVER heard that before? I certainly never did!
I guess we all wasted our money, and 6000 years of history have just been negated by one simplistic moron! How dare she!
Back to the monetary drawing board, I guess .....
I've heard you can drink it:
http://www.boozebasher.com/images/liqueuers/Goldschlager.jpg
mmmmh, gold.
Damn! And I was planning to have gold steaks and silver salad for the rest of my days here on earth. I guess I'll have to dump all of it now since it's useless. Crap.
I'd say your waterfall lacks a bit o' sparkle.
+1 That waterfall is one sparkle short. -Your definitely the funniest racoon on ZH!
akak,
Well, you CAN'T really eat it...but, try eating without it.
Damned hard.........
"It was horrible. Horrible! Like lightning it struck. No one was prepared. You cannot imagine the rapidity with which the whole thing happened. The shelves in the grocery stores were empty. You could buy nothing with your paper money."
Friedrich Kessler, a law professor at Harvard and University of California Berkeley, who experienced the Weimar Republic hyperinflation as interviewed by Ralph T Foster in his book "fiat paper money"
An ounce of silver would let you get by for about a month, back in the good ole Weimar days
Any further questions?
same can be said of FRNs, dumbass
trav,
since immediate responses get overidden here asap often, I like to address my answers/opinions to the person who said it.
Not that I am telling anyone to do likewise, but, your response, has left me clueless, as to WHO you were responding to.
Not trying to be a smart ass, just sayin', it helps with the FLOW of the Forum.
How do you think your federal reserve notes will taste. It amazes me that the best arguement that people can produce is you can't eat Gold. What you need to understand is that it is a hedge against inflation. It preserves your wealth. You can't eat your flatscreen TVs. Why do countries buy it? Why did China advise their people to invest in it? Why has it been around over 3000 years? What do you think your FRNs will get you when the SHTF?
The sparkly waterfall person is a Master Bates understudy. Just learning the ropes. Be gentle.
One,
Don't forget Deflation either............
King Tut is not happy you left him out of the picture.
King Tut, Funky Tut--Steve Martin
http://www.youtube.com/watch?v=4TCunfSdrNE
Anyway, as I have pointed out before - you can eat it. See further --
http://www.ediblegold.com/
Don't see any web sites called www.edibleFRN.com ... just saying....
better keep all those FRN$ so you can eat them.
I don't know about you, but I use my gold to coat my temporary bikini-clad supermodel girlfriends that help me cheat at gin rummy when I visit Miami Beach because they've been speaking with British MI-6.....
h/t Ian F.
Gold has many industrial uses.One of the most critical, and pertinent here,is the tiny connections to the chips in your computer.They are wires finer than a hair, and they are pure gold.
Saying gold has no industrial use is ignorant.
agreed...isn't it also useful for making a lining that is impervious to an emp? xrays? nasa would be suprised to hear that it has no industrial use as well...never corrodes? no, i can't think of a single industrial use...
It is rare. Good luck exchanging something that can be created with no labor whatsoever with something that took labor to create such as food or gas.
you forgot okie-doked
Parking money into metals is a wonderful way to slow down the velocity of money which in turn hurts the banks in the long run. Won't be surprised if metal holders get labeled as "financial terrorist"...I say bring it on!
You dirty terroist!!!
http://www.youtube.com/watch?v=ZnEO5FU175c
been thinking that for a while along with encouraging people to withdraw out of the big banks and a host of other things that might label you the terrorist
A fiatsco on Tuesday?
Gotta hawk the store on this one...go to www.zazzle.com/Howard_Beale for all your Fiatsco products. Can't even remember if I made a mug...too tired. Window shop and check out the fun...good for a laugh if you don't have the FRN's!
The ZAZZLE STORE is a ZH approved fundraiser and all proceeds go to Zero Hedge.
Per the spot market at 7:02 EST from www.kitco.com, silver is $19.47 per oz. Gold is at an all time high, silver should be as well. I read an article about a month ago that described the break, I have forgotten the terminology, but the point where paper products no longer represents the actual cost...inflection point? Help me Cheeky! However, I believe that we are witnessing that moment. The sale price of the physical silver that I own is most certainly NOT $19.47 per oz.....I'm thinking $100 per oz.
Janice,
Legally it was originally sposed to be 15-1, turned out coinage was skewed, and it was like 15.3-1.............then it went to 16-1.
Last I bought was @ 63-1.................
Some dunce JPM, figured out a way to Demonetize Slvr, and make it a Commodity..................
It's really not.....it's money like Gold...............
And a good thing to eat dinner with too. Nothing like sterling silver place settings.
Absolutely, Howard!
Isn't sterling silverware luxurious?
I feel like a king eating with it!
Anything and everything is for sale; It's only a matter of price...
Somebodies took you serious...
They just have to learn to be more careful.
Oh no the goldbugsand silverbugs are doomed. great sarcasm. Subleties are easily missed in the written word without lenghtier context.. May junkers glory in their ignorance. Prost!
Got Lead? Cerberus Capital does.. http://en.wikipedia.org/wiki/Freedom_Group -
How involved is Soros with Cerberus now? And why would Mr Open Society globalist, whos pushing the UN International Small Arms Treaty that they keep trying to sneak through, own a stable of American arms companies?
Soros always cashes in on the guy with the ball. Doesn't matter if the guy with the ball is on the wrong team or not. Money is money and if Cerberus is making it, you can bet your gonads he'll have his claws in it and then bail when they drop the ball. Only he'll be the one calling the shots on when the ball gets dropped so he can cash in on the way out too.
Perhaps this is JPM propoganda? It's lack of supply raising the price, not JP's exit out of the manipulation game?
If you mean they are doing it to lose more money off of shorts...um...what?
what I was thinking..Commercial longs 32k shorts 97k on the cot report from may 7th..
You know what "commercial" means here? Means they deal in physical and hedge their inventory with paper shorts. We have no idea what their book is, and a lot of the traders on those desks are long-time PM bulls themselves.
REALLY good point.
go to abu dhabi
http://gawker.com/5537433/abu-dhabi-has-an-atm-that-dispenses-pure-gold
LOL
thats pretty cool! ;>
Just back up a truck and take the whole machine off their hands.
Carl,
abu dhabi
Last place Iwould steal anything,I would not want my dhabi,abu'd........... .LOL
Funny twist .
Pfft... In Germany and Austria you can buy gold in vending machines in large retail stores. It's like going to wallmart and if you feel like it, you can buy 100gram bullions.
Article is in Dutch, so if you want to translate it go to babelfish.
http://www.tijd.be/nieuws/economie-financien/Umicore_levert_goudmunten_voor_verkoop_via_automaten.8198877-600.art
News like this make me feel gold is in bubble territory. If there are vending machines, it means there is some demand for gold among the average people on the street; among hairdressers, taxi drivers and dentists. And that is bad, BAD.
Also, the gold available through vending machines is 1g, 5g, 10g, 1oz... not bigger. http://www.gold-to-go.com/en/ So the clientele aren't buying gold for necklaces etc. but as "an investment" though they are losing 30% on the spot. In other words: the kind of people who often crowd the last stages of a bull market.
I'd be much happier if these companies were just buying "junk" gold, not selling anything...
Except this isn't the last stages of a gold bull market.
It is the first stages of bull fear and confusion which will last some time as the sh*t hasn't even yet hit the fan.
Gold isn't tuplips or stocks where people fear missing out on a good deal, this is people fearing getting caught holding a bad thing.
True, but will it play out any differently? When people fear missing out a fortune, they run to the bank,withdraw their money and buy tulip bulbs. When they fear getting caught holding Weimar-style money, they run to the bank, withdraw their money and go to the vending machine supplying 5g "gold bars". The end result is the same, a mindless buying climax.
I'm counting on the EU to arrange another bailout package in a few years. Perhaps a trillion or two...
No, the end result is different. First case you've got a bunch of people left with worthless rotting bulbs. Second case you've got a bunch of people with...gold.
:)
You cannot eat gold but YOU CAN EAT TULIP BULBS!
Bulbs ftw, bitches!11!one!
Go ahead, flag me, I dare ya. Punk.
lol ...you bulb eating bastard
Audrey Hepburn ate them when she was in her teens, along with mice, at a time when she was also running messages for the resistance.
The difference is that gold, stock certificates, and houses are infinitely reproduceable. Gold is not. Therefore, there is no "Oh God" moment when the market realizes that there is far more supply than demand and people start dumping.
This is why gold is money, while tulips, paper dollars, and stock certificates are not.
There are ATMs everywhere and nobody is saying that fiat dollars are a crowded trade. Oh wait, yes we are. So, when gold dispensing machines are as prevalent as condom dispensers in filling station men's rooms, gold will be in a bubble. Yeah, that's the ticket. Watch for gold vending machines coming to the Exxon station near you!
Machine dispensed oxygen, green rooms with oxygen producing plants time shares or restaurant/library combos will be a big hit in florida soon. Seabreeze will reek of oil. Harry will fund it.
these ATMS are running billboards, though... bullion from the Post Offices in India as well.
broadens the audience while it dilutes the audience...
which will win?
i've made my bet.
Okay... you do have a point there. For both cash and gold, vending machines are just a more convenient way to dispense the product.
However, the kind of investor ignorance that is required for gold vending machines with 30% margin for seller, won't be there forever. Either gold REALLY goes mainstream (in case we get a gold standard i.e. cash backed with gold) or the margins get smaller. Buying a 5g gold ingot is an investment which is not an investment.
Of course, gold vending machines could be just white noise; one of those things that does not warrant any closer look.
Citi and a few other banks sent out a memo to customers about 2 months ago stating that at any time they can request a 7 day written notice on a cash withdrawl from your account..Per the gov... It was posted on realcent.com.. Thats what I call a bank vacation, not holiday... I immediately reduced my holdings to $5..
its not a bad sign,but a good one.That's not enough.
its should be everywhere in every country, like buying a chewing gum.
It is actually money, and it will never go away.. better get used to it.
I can report that silver coins and gold coins and bars from 1g - 1kg are available OTC at almost every bank in Kiev.
The same in Sweden, Finland, Estonia, Latvia, Bulgaria through Tavex. No shortage there. Tavex sells mainly PAMP Suisse products.
Yeah... a 5,000 year old bubble. Average people on the street have always demanded gold. Modern hairdressers and taxi drivers and dentists are just learning what any hairdresser, cart driver, or dentist in ancient Mesopotamia knew. Gold, bitches!
These vending machines remind me of something similar I see on almost every street corner. I can't for the life of me think what they are called . . . . . . . . . . . . . . . . Oh yeah ATMs!!!!!!!!!! Except its moral hazard and our goverment that is causing us to lose much more that 30% of spot.
And those damned fees . . .
China and germany making gold easily available may be for a new currency plan and they are preparing their people and the plan. My guess.
In the usa no one is looking out for us but a few bloggers and especially Zerohedge, all of us included.
China has recommended gold and silver for her citizens, that is true. It could be a part of a long term game plan for a gold/silver standard, or simply an attempt to divert some private money away from the overheating property market.
Germany hasn't done the same. This gold vendor is a private company. As of yet, the fat lady Merkel isn't singing "Buy gold". When she will, it is time to sell.
Martel,
That's overseas, and we are JUST getting started here..........
When everyone you are around is talking about Gold/Slvr,..................have a plan, to sell.
I'm overseas. Good if you Americans are just getting started. Make it a big one.
...are we really having this conversation? you've obviously paid the price of admission to make it this far in to the comments, and in doing so, to say what you said makes you look like a whore in church...
yes, i would much rather see taxi drivers, et al keep their paper frn's: much more stable...
and as for losing 30% on the spot, what has the dollar depreciated since I withdrew it from the bank last year? according to the price of gold, about 35%...(you forgot to say that gold doesn't pay interest: which i always find interesting and want to ask those people if they have/would invest in berkshire hathaway since it never paid dividends...oh, capital appreciation is ok? well, then...)
i see "everyman" owning/using/saving pm's as an "awakening" akin to the renaissance...out of the darkness of the fiat/frn/fractional reserve dark ages:
and i say "bring it on, it is far too overdue".
A sizable amount of my wealth is in physical gold. And when saying "sizable", I don't mean 3% or 4%.
Just because of that, it would be irresponsible not to be on a lookout for reasons why gold is a bubble. Fundamentals and market sentiment both support gold, but it is not a one-way street, it never hasn't. Not for me at least. At some point I will convert my gold into real estate or stocks, but since we're living in different corners of the world, I'm looking at a different set of opportunities than you.
So I am a gold bull, but feel uncomfomtable in a crowd. ZH is all gold bulls, so are Marc Faber, Jim Rogers and numerous other market commentators. If you get a lot of flak when expressing a contrarian viewpoint, that is another indicator of an overdue correction.
I am happy to be a whore in church. Beats being a priest in whorehouse.
Shit, I just checked it out over here in Belgium and it's like impossible to get silver anymore. Only gold is still a easy buy.