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didn't the bears tell us there will be 2 prices for silver? the paper and the physical? is this a manifestation of that?
And i dont know if you mean SLV bears or silver bears, but either way, SLV does as the SI as the pure spot price of Ag does. There isn't any other way about it unless you'd want a class action suit on the 350MM+ shares, and only doomsayers try and make you think otherwise.
The silver bears from silvergoldsilver. The cartoon bears.
And yes they did.
A major silver exchange or instrument will collapse in the next two months.
this chart is meaningless. First, it is from yesterday, not today. Yesterday, the SLV fell 8.3%, and the NAV would have been from close on Tuesday. NAV may also be based on the time the commodity itself closes, not when the ETF closes, which also accounts for a price gap every day, up or down.
Wait, what? Did you look at the chart? It's a long term (multi-year) chart. Look at the last couple of months. Weird shit going on.
i'd suggest you go get your IQ checked...
So please calculate the difference for us based on today's trading data. Thanks in advance.
How about you explain yourself rather than acting like a child?
Exactly. Down goes another blowhard, chicken-shit who ran his mouth and then realized he had been schooled. He won't be back to comment on this thread.
I don't mind people like that. I just want to learn. And I want them to learn. I don't care about who was right in the past so much as I care that I am right in the future.
Seeing past predictions come true is kind of neat, though.
if you actually want to learn, I wrote the rebuttal to this (absurd, nonsensical) post already:
And right on cue, we see Mr Dynamite grace us with his presence.
Learn something? You assume SLV has all that silver? That's a laugh. Nice try. Some of us can think for ourselves around here.
sigh.. i don't know why I bother, but Bay Of Pigs, if you don't believe that SLV "has all that silver," that means it's trading at an even LARGER premium, not a discount.
again, this isn't debatable, it's not a "disagreement," it's a fact. If you think SLV is lying about their silver holdings, then their "True NAV" is even lower (and thus the ETF is trading at an even larger premium) than the one I showed you how to calculate in my post.
I don't give a rat's ass about SLV and their supposed NAV. It means nothing to me. It is a bankster FRAUD, much like GLD. The fact you use your arguments based upon trusting these ETF's tells me all I need to know about you.
lol, so if SLV doesn't have any silver, then silver is worth zero.
That's what I call LOGIC!
I understood your point and my IQ is 6.
All true. The lastest "announced NAV" was based on the Afternoon London Fix for May 11. Silver subsequently fell from around 39 to around 32. The price of SLV followed the spot price minus accrued fees, exactly as it is supposed to, but the "announced NAV" had not yet been updated. If you can find a resource that tracks it, you can follow the symbol SLV.NV, which tracks the NAV of SLV in realtime.
The author of this article demonstrates a shocking lack of knowledge of how SLV is supposed to work. The info about the NAV is in the prospectus, and an explanation of "announced NAV" is on the SLV website at iShares.
Yes those are the bears I meant. The cartoon ones. And this does seem to fit with their last video
Nice volume in CME June $260 puts today, complementing the >3,000 open interest for $270 - $280 puts..................just basic hedging ??????
Bears what? Part 6 who? huh?
Isn't SLV going to offload paper contracts to adjust to its market price?
This is gonna be a bloodbath.
Big time! The interesting part of all these margin hikes to suppress fiat price is that, going forward, the effectiveness of margin hikes have an ever decreasing effect on spot price. A margin increase from 10% to 15% is a 50% jump, 5% increment. A move from 30% to 40% is only a 33% jump, but a 100% increase in the incremental margin increase from 5% to 10%. Total and complete diminishing effect as they push the futures market over the cliff. Spot price will simply disconnect on its own. The criminal banksters are out of silver and panicking.
Exactly, just look at the prices for Silver Eagles on ebay today. Final bids are in the 43 to 45 range for individual coins, a premium of around $10 to paper spot price....
diminishing marginal returns for margin increases....
has a nice ring to it.
Thanks for the discount fuckos, off to the coinstore
When the physical markets break away from paper, this is how it'll begin. We're not quite there yet. But, margin attacks will only hasten discontinuities, and then eventually abandonment of the futures markets. Of course, there is a great opportunity for countries to start new futures exchanges with transparency, and clear rules.
And why would other Governments and their Central Bankers be any different from the American one? You have HFT and fraud going on in every single stock market these days.
War Speculators Goes Global Sanghai Gold Exchange Hikes Silver Margins Third Time Month
The spot market is relatively decentralized, but the more futures markets and more governments that are involved, the more competing interests there are, and thus it is more difficult to maintain price manipulation over time.
Nav is a dynamic number, IF you are looking at the published closing one that hasn't changed you need to find a new job.
"Net Asset Value (NAV) is determined as specified in the prospectus: the iShares Silver Trust's silver and other assets are valued on the basis of each day's announced London Fix"
Price discovery? We don't need no stinking price discovery.
Pesky facts should never be an impediment to whipping up hysteria.
Everybody should stop buying untill it hits 1$ so THE remainders can be bought on THE cheap so That there is no more left.
So perhaps all of us on ZH should temporarily encourage a short campaign on silver to help JPM drive the price down to $1?
Naw. Forget it. I just picked up some more SAEs and Maple Leafs (leaves??) yesterday. Gotta love those silver bears.
<puts on robot voice>"Pay no attention to the fiat price. Just buy the silver while you still can..."
I agree, and I personally encourage other's to short their physical as much as possible by taking the other side of that trade... :)
I will buy silver when "most" of ZH lose interest in Silver. Not much, but equal weight to my Gold - a mint box would be nice.
That $25 SLV put buyer clearly knew something big was about to happen. That trade was ridiculous. Wonder how deeply ITM it will be come July?
Have to wonder who sold them?
Haha ya, i bet nothing but a :))))) on that happy camper's face!
Either AIG or GM
yeh, probably a TBTF player. i'd like to know so i can short whoever it is.
ya know, has it occurred to anyone that the buyer might have been someone from the Manhattan DA's office or connected there?
or someone from the CME before the rate hikes. yeh,that would be shocking /sarc
If they are smart, and I do not doubt they are, they would have closed out 1/4 the posn and now have a cost basis of ZERO, a no risk trade that's millions of $$ ahead, I am impressed. Now we wait til they trade again, maybe CRUDE
BTW, Sprott PHYS is damn close to NAV PSLV is around NAV too
Edit: Putty is right! PSLV is no where near NAV - I looked at the yesterday closing price .vs. the computed NAV number! Sorry - still arount 17% premium there..
JPM 109.76 Ounces? The only thing I know of that has .76 ounces is a Morgan Dollar. They must have had all the tellers going through the Ike rolls and Found a Morgan and immediately ran to the vault with it. LOL
The tellers? Hell, Blythe is probably sitting at her desk right now, sorting away.
Either that, or she's been to her local coin dealer. Or she stole it from her gandmother or something.
With the ever lowering price of silver, there is only one thing to do: BTFD. Watch this animation to get inspired to do so:
Then head over here to read why silver market mainpulation will not end anytime soon:
Silver chart starting to look like Case-Schiller. lol
Just checked on my physical silver here, looks same as always to me. Nothings changed its only gotten worse, I'll be hanging onto my silver for the duration. Everyone else can trade for paper.
That's right. There are "traders" and there are "investors". I'm looking at the long trend and holding my physical PM accordingly, so color me as an investor.
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