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So Much For The Sprott Silver Scare: "Every Dollar From PSLV Sales Was Reinvested In Silver Equities"
Earlier we reported that Sprott had sold $35 million worth of PSLV, which caused many to panic that the precious metals guru had indicated the market top in the market. Well, as it turns out and as he just told the Globe and Mail “We haven’t lost our enthusiasm for silver.” Quite the opposite...
So why the sales? “Every dollar of money that was raised by selling shares of [the Trust]... was reinvested in silver or silver equities,” he said.
While silver’s price per ounce has soared in recent months, “silver shares have not done as well, which is almost shocking in a way, and it looked like there were opportunities in either getting some premium on PSLV shares and buying silver or buying silver equities.” The sales were made at an average price of about $21, up from their $10 IPO price about six months ago.
But that doesn’t mean Mr. Sprott is abandoning his trust. He says he still holds around 25 per cent of the total trust units between his funds and his charitable foundation.
As for future public offerings following the IPO, he says he is sticking to a promise he has already made. “There will not be an offering that negatively impacts the premium on the PSLV,” he said.
Sprott is not the first to observe the harsh push on silver equities. As we noted some time ago, metals are outperforming equities by a ridiculous margin, which is why anyone who has to have a connection with capital markets (like an advisor) would be foolish not to take advantage of this relative mispricing. Which by the way is massive. As the chart below shows, while SILV is up 42% YTD, the SIL ETF is actually negative for the year! All Sprott is doing is taking profits from the upper line and reinvesting them in the lower one, once again proving that relative value compressiona/divergence trades are the only ones that make any remote sense under a centrally planned regime.
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Equities, shmequities.
It doesn't matter the reason. He still sold his Flagship physical silver fund.
If he doesn't want to own PSLV, neither should you.
At the end of the day, he still thinks there are better investments than PSLV.
And there are -- pretty much anything at this point.
Right, so that should mean every CEO or insider who sells his company stock effectively tells us not to buy shares in that company.
Gotcha.
This is very, very different. Mr. Sprott is selling PSLV on behalf of investors in his funds, to which he holds a fiduciary duty.
It is completely and totally different than a CEO selling shares of his company to diversify his holdings, buy a house, or put his kids through college.
Yeah sure. You just keep telling yourself that, you disingenious, dishonest, pathetic little troll.
Keep believing what ever you want. Everything is bullish. Even Eric Sprott, the most vocal and biggest bull out there, selling PSLV.
Did it ever occur to you that the miners are ALREADY begining to price in the coming collapse in silver? A majority of the miners are still unhedged, which means that while they may generate a lot of cash right now, they're going to be in a world of hurt when silver drops back below $20. With cash costs at 5 to 10 bucks an ounce, cash flow per ounce drops a lot faster than the price of silver.
...
Wouldnt that be the greatest thing?
15 dollar silver, wow!
You mean where it was trading in January/February of last year, when the DXY was around 77 (only 5% higher)?
Why am I reminded of the Turing Test here?
Because your machine mind only believes silver is going one way.
Well, at least you have one thing in common, then.
Indeed, in the medium and long term, silver is "only going one way" --- because the unsustainable fiat dollar of your paymasters' is also only going one way, and that is into the dungheap of monetary history, where EVERY fiat currency ever tried throughout history resides, or soon will.
Math Man, just save who you can, read last rites to the rest of the idiots who do not yet know they are dead.
Math Man how can you sit there and spew things like the DXY was only 5% higher when silver was at $15 last year and think that actually matters?
So what?
Silver and the DXY are NOT DIRECTLY correlated. They do have correlation but that's not even close to reason for price explosion (which is justifiable EVEN IF there was stagflation or deflation of the dollar)
It has much more to do with the underlying fundamentals and manipulation than the correlation to a weak dollar. When silver/gold ratio goes to where it should be, then silver and gold will be much more correlated to the falling DXY. When the dollar starts crashing at a much faster pace, then you will see those stepping in to buy because it's evident even to the most mindless person that the dollar can't buy as much anymore. That's when the correlation between silver price and DXY will really show. When gold/silver ratio is where it should be, then maybe your opinion on this matter would have some merit. But you are acting as if the only driving factor for silver SHOULD BE the DXY, when that's not even the main factor. It certainly will be one day, it's inevitable. For now it's the manipulation and funamentals like HOW MUCH DAMN SILVER industry is about to use through 2020.
I can't honestly believe that Math Man believes what he believes. His avatar tells you everything you need to know about him. Stop being a shill and come up with some valid points, or you won't be able to shake of any of us out.
Five un-named silver mining companies apparently sold forward a large chunk of their future production to "lock in" current prices, the Financial Times reported last week.
Needing to borrow physical Silver Bullion, these miners have helped create the recent supply shortages, suggests Scotia, in London – heart of the world's wholesale precious metals market.
http://www.ibtimes.com/articles/112197/20110214/chinese-imports-surge-si...
Timeline, please. This could mean everything, or it could mean nothing. Without a timeline, you don't know.
Oh, and this could very well be used to explain the recent volatility in silver, as we've crossed the first delivery date - banks have borrowed, for what purpose? To deliver physical?
Interestingly, they delivered 0 contracts today.
No details will be provided. Details decrease FUD (fear, uncertainty, doubt). These guys want maximum FUD.
Or rather, they are simply "messengers" (or delivery boys as the case may be), and they are simply "following orders". Their masters are the ones who want FUD. These morons don't know what they are saying or why.
the only thing the silver miners are pricing in is getting siezed and nationalized as the reality of the sitation comes into focus on a global scale. I'm expecting a massive gap up and run in the pm's soon.
LOL
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... only $4.65 Canadian to dig from the ground ....
.... must .... eat .... silver .... owners' .... brains ..... eh? ........
And the colored girls sing........
+1
should of thought of that myself
It only costs $4.65 to dig out of the ground, hence that's what it's worth. Ah, the good old Marxist labour theory of value fallacy.
Exactly! By that standard, Pussy should be free!
It is.......for around 50% of the population. They carry their own supply with them wherever they go.
...and some of them are damned stingy with it.
Pussy is a classic price discriminating monopolist and captures all consumers' surplus.
Theory of Surplus Value which is actually one of the truest and best things that old crank ever wrote.
Math Man, are you zerohedge's version of Jon Nadler?
you can spin this anyway u want. from my perspective, he sold a premium and bought a discount.
And you should too.... that is my point.
If he thinks equities are a better bet, than you should too.
He may even be looking at it as a hedge... given that the equities are already pricing in lower silver prices, he may feel that when it does collapse, equities may not fall as far as silver.
September 12, 2012:
In other news, MethMan was appointed by President Obama as the nation's new Silver Czar, responsible for the newly-created legions of shovel-wielders assembled under the Total Resource Optimization Labor Law (TROLL), who have been tasked with digging into the nation's regolith in search of silver to replenish the COMEX warehouses after their June 2011 default and the subsequent immediate rise in the price of silver to $284 per ounce, and on to $5866 today. Czar MethMan, in an official press release, dismissed widespread doubts about this venture and reaffirmed his confidence in the success of his diggers' mission, stating in regards to silver "the shit is fucking everywhere!".
For reasons not fully understood, however, the TROLL legions of Silver Czar MethMan have become popularly known as "The $5 Brigade" --- perhaps referring to the low-value silver-colored $5 coin issued by the US Mint in the autumn of 2011 following the international dollar crisis, but now being removed from circulation due to its stainless steel content exceeding its face value.
Typical ZH reader... shooting the messenger, rather than taking evasive action.
There is still time to sell...
Messenger... of whose message?
Let us know who sponsors your deliberate lies.
My message - the one I just gave you and you ignored. The same one available to any one who reads the facts, rather than being blinded by their 'Silver to Moon' mantra.
That Sprott thinks equities are a better invesmetment than PSLV. And when the biggest bull out there sells, so should you.
You're funny when you're a disingenuous liar.
So, you create the message, and then send your messenger (yourself) to deliver it?
...but ignores the fact that the only net buyer of size of US treasuries is the Federal Reserve, financed through overt monetization. But hey, despite voluminous evidence of large scale deficits playing key roles in 28 hyperinflations during the 20th century, this time is different.
But that is the whole point... you're buying for the right reasons (debt, inflation fears, etc), but paying the wrong price.
It's how bubbles work. Right reasons, wrong price.
Just like the dot.coms... Buy stocks! The internet will change the world. And it did. But the buyers still lost their shirts.
Silver is the same. Dollar may devalue, the national debt is still at record levels, etc, etc, but you're buying silver at prices that are 150% higher than they were a few months ago... and completely ignoring the fact that Gold is up less than 30% in the same time frame.
Consider yourselves warned.
If you don't sell, you deserve all the pain coming your way. At the very least, sell silver and buy gold.
Uhh, if they are paying the wrong price, then all that shit is more priced in, and everything is fine.
On one hand, you say that silver is overpriced because the USDX was at 77 in the past, while on the other you acknowledge all these other problems, and simple WAVE OFF the reaction as being INCORRECT.
How stupid can you get?
Oh, I've read a substantial amount on how the inflationary cycle works. Often, inflation doesn't appear at first after the monetary easing has begun (usually as the result of needing to finance a deficit); employment picks up, economic activity as well... and then, after a period of time, inflation starts increasing at a rapid rate, economic activity declines, unemployment increases as well, and under normal circumstances for a small country, the value of the currency will decline, which will offset exports and imports, and bring with it a balanced budget.
However, if a 40% net deficit/budget ratio is breached, it often leads to hyperinflation. The US currently run at a 42% rate.
If we're lucky, we're heading back for a repeat play of the 70'es.
Selling physical holdings would be completly foolish if you building supplies for wealth and safety on a personal scale Math.
Ok, so you didn't generate the message, you are merely delivering it. So who are you working for?
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
..... only $4.65 Canadian to dig from the ground ....
When you factor in byproduct sales of lead and zinc its only $-4.65 to pull out of the ground.
$45 dollar silver is unsustainable.
You are half way there.
What happens when they don't produce more lead, or, God forbid, they start producing less lead?
No more cheap silver. The pure silver mines have to make up the difference. But they can't. Because silver costs a shitload more than $5 to pull out of the ground by itself.
But a troll like you wouldn't understand that. You would rather use broad generalizations to spread FUD.
Classic luv it
well done akak.
That was a total knock out.
lol, that was a knockout! But "Pres. Obama" still around in 2012... yikes! Will we all even be around that long, what with his White House crazies wanting to bomb iran, nuke the dollar, ignore chernobyl, er fukushima, sabotage alternative energy, pretend global warming & wicked weather is just a Hollywood "yellow brick road" movie, (etc. etc. etc.)
scary !
so how do you measure your success as a crusader protecting grown men from themselves at zh? is it per post? or perhaps the number of minds you've changed? or words written?
btw: how many posts does it take to change the mind of one reader?
How stupid is the reader?
Right, nothing matters unless the MAN OF MATH says it does.
Also, $34 was the top. Anyone who says otherwise is a conspiracy theorist.
Tmo-
There is still time to diversify - you're going to get smoked if you stick with your 95% long silver allocation.
Buy some puts, you can buy back the silver at a lower price later... and you'll have even more ounces.
Or at the very least, swap for Gold. The ratio has moved too far, too fast.
It's one thing to kick drowing passengers away from the still mostly-empty lifeboat, but a completely different, and much more malevolent, thing to throw overboard those who already happen to be inside the lifeboat.
MethMan, there is a very special place in Hell reserved for Quislings such as yourself.
I hope you and Leo are very happy digging silver out of the ground for all eternity --- except there, you won't even get $5 for it, having been condemned to the one and only place in the meta-universe where silver, truly, is just a worthless rock.
That was brilliant, akak.
should they dig alone or should they be chained together?
Go sell crazy someplace else, we're all stocked up here.
http://www.youtube.com/watch?v=Xn74wA4qGpA
Thats the most genuine thing I have seen you suggest, and is the only way I would hedge or play. Selling actual silver would not be a good idea considering how volatile its price in frns. Really we dont know, the price could be $30 or $60 an ounce by the end of next week. With $5 an ounce moves in a day, the put/call options cost are cheeeep.
Go back and read my posts... I've been telling Tmo to do this for months.
All 3.46 of them.
Prior to that you were selling vacuum cleaners door-to-door.
Meth, most here are diversified. Physical is our one of our value's of safety. I don't believe you are that dense not to see that point, So what is your angle?
Its called...
from your account, to "their" account
its called securing supply.
Desperation is a stinky cologne, Blythe.
Fortunately, she only applies it to her gash --- which is getting pretty loose and sloppy nowadays.
Do you smell that? I love the smell of desperation...
http://www.youtube.com/watch?v=sBksHaTQCbU
The financial tsunami is coming.
"It's pretty hairy there, and thats 's Blythe's point"
"BLYTHE DON'T SURF!"
FUCK! Sold my pslv today W/ profit. Will base a reentry on silver cost/oil and the "mighty dollar".
If you review the holdings of jr miners in Sprott's funds, he has an outstanding record over the last 5 years. Oh wait; the trolls could obviously do much better, right?
I sold PSLV and it most certainly was a scare and I dont regret it. In fact I am also buying silver and silver equities. Sprott basically sold because other investments will go up faster than PSLV, with its 20% premium last week. What might go up faster? SBT.UN, with a single digit premium, run by the CEF folks, for example. Then there's the silver equities with their half warrant for 24 months. The fact that Sprott had to SELL PSLV to buy other silver is the shocker, because for someone like him, a free unimpeded supply of fiat with which to buy physical PMs is supposed to be the norm. Bottom line is PSLV is overvalued. Reload at single digit premiums, or buy 'other silver' like Sprott
Or he thinks the equities won't go down as fast as Silver... (because lower silver prices are already priced in)
Or both.
LOL
Uhh, he could hold cash. But he's not.
You are too biased or stupid to understand that.
Does his mandate allow him to hold cash? Does he earn a management fee on his cash?
The answers are probably no.
If he can trade one asset for another, he can hold cash.
But you are too stupid or biased to understand that.
Tmo - how many times do we have to tell you to stop embarrasing yourself by talking about things you don't understand.
Almost all money managers have a mandate that restricts the amount of cash they can hold in their portfolio at any one time - and when they do hold cash, they do not earn a management fee on the cash. This is why you see funds often take losses on supposedly 'safe' postitions - i.e. short term corporate debt. Rather than hold cash (which they can't, or don't get paid on) they buy a bond that is maturing in the next couple of months instead... the underlying company goes BK unexpectedly, and kaboom...
Sprott may not have the flexibililty to hold cash or buy puts, so instead he is buying something he thinks will go down less.
Show me where it says he can't hold cash or cash equivalents in his funds.
Until then, show me you blowing it out your fannie. There are an infinite number of things he could be doing to replicate a cash position.
You honestly think an Equity would not go down as fast, or faster than a Physical Trust. Have fun eating that paper moron.
Heh, looks like he traded his physical for more paper lotto tickets (aka silver mining stocks).
Never underestimate the gambling fever of the gold bugs. They are the worst gamblaholics ever.
The same guys who excoriate Wall St. for wheeling and dealing, using bloated leveraged balance sheets, etc., are the same guys how constantly play the PM futures markets and speculate in these mining shares with 4:1 margin at Interactive Brokers.
No wonder the SIL/SLV ratio is trading at world record, lifetime lows.
He manages mining stock funds, you idiot!! WTF?
If only he were as smart as you . . .he'd be rich.
Really?......
That is among the dumbest things I have ever heard you say.
If gold bugs liked "gambling" as you put it, they would all buy mining shares, and as a result prices would be higher.
Are you SURE you're a trader? One would think that a trader would know super basic supply/demand theory.
well that is what i was asking about earlier. does he have the physical to back up the shares? did he not have trouble getting product?
sprott is securing supply.
Next time it wouldn't surprise me to hear Sprott buying U.S. Dollars and Yen as a hedge on his physical exposure. Both are moving up smartly as I speak.
You make about as much sense as a square wheel
square wheel excellent only for parking (Confuseicat)
Im with you on the Dollar & Yen trade. This latest drop in USD/JPY has been an accumulation phase used by the big boys and is only days away from a major up move.
And guess what fucktards?? That means a major "pullback" in your precious metals as well. So Robo is right, if you aint hedged at this point you're an absolute idiot. This isnt about completely withdrawing from your lifetime investements, just a word of caution to at least go long on a few puts while we get a clearer picture on things to come.
Why buy puts on a position if you know it's going right back up? If anything you should be buying on the way down at every uptick.
His strategies will be lost on most of the "late to the party" types...you know ones I'm talking about....bitching and whining about how they'll have to DCA their stacks somewhere between 35 and 45(therefore: PM's are overbought or in a bubble). Under-performing and depressed/manipulated mining equities will be another opportunity that slips away from their grasp....due to their "Normalcy Bias"
Okay, why wouldn't a big player (I don't know how big you would have to be) just buy controlling interest in a silver mining company? I know a paper hedge isn't worth the paper it is written on, up until the point when you own the mine. After you own controlling interest in the mine do you not have an amazing hedge against the dollar? Wouldn't it be cheaper to do this then to try and buy a big enough hedge with the actual physical which keeps going up thanks to all the btfd people?
not for sale, nationalized, likelihood of nationalization in near future, other metal production where Ag is byproduct. A bazillionaire was supposed to have purchased one recently, but if it happened? dunno.
maybe you're thinking of this NYT article "Billionaire Thomas Kaplan all-in on gold"? (http://www.infiniteunknown.net/2010/05/25/billionaire-thomas-kaplan-goes-all-in-on-gold/
yes, with miners, there are TONS of safety, worker, enviro, & national considerations - like huge, toxic, watershed poisoning acid leach ponds!
And, after all, if you are successful, you are literally pulling the wealth of nations right out of the ground (and trying to keep most of the profits for yourself, the host nation be damned!)
silver
meth head
and robot thunder
are as clue less as run spot run
both having missed most of the gold and silver bull market
silver will have margin requirements raised to 100% but that will not stop the run to 60 50 and higher
whilst the meth merkin head and \ trader 90% who lose suck more and more kenyesian glue
I haven't missed anything.
I still have plenty of physical, although I did dump one Monster Box near the highs.
And I'm desperately seeking to unload some mining stocks out of an old 2003 IRA account. However, I will be patient and wait until the GDX/GLD ratio goes bananas. Right now, both GDX/GLD and SIL/SLV ratios are slammed to world record lows. I might have to wait 5 years. LOL....
In the meantime, the rest of my stuff is still fully invested in dividend paying stocks with very low volatility and hand me a nice check every quarter.
Since I'm unemployed, still living in a 600 sq. ft. stucco box 1 bedroom apartment overlooking the Hollywood freeway, I cannot afford to take risks with my stocks. No chasing LULU or PCLN, those stocks don't do me any good since they pay no dividends.
Does it hurt to backpeddle that quickly?
You've only been highlighting and hyping that fucking Lulelemon (which today was, indeed, a lemon) for HOW many weeks now? And give it just ONE day of getting "blowtorched", and you're rewriting history faster than one can say "doubleplusungood doublethink".
You're really nothing but a pathetic bullshitter, Lobo(tomized)Faker.
Robo, I've also read your post with lulu included..........
JFYI
I saw Eric sprott on BNN about a month ago or so(sorry no link)
where he mentioned exactly his intentions to lighten up on physical going forward and get into the miners where he'd have expoure to the leveraged returns than physical metals would allow him. He was obviously of the position that the miners were about to start flying soon.
Food for thought!
Ah thank you... sense has found this polluted thread.
Newsflash... $20 silver = go short the entire equity universe
John Embry basically said about the same thing, his words read "if you want to add some real torque to your portfolio, look at miners" or something pretty close the that.
You can find it on KWN....to lazy to hunt it up myself :)
I was supposed to be asceerd? Damn memos....
Dammit, now they are likely going to raise margins rates on silver equities. But no worries, I can always go "balls deep" into every other commodity that actually takes money out of the middle and lower classes.
Of course Sprottie would tell the world that he is STILL a buyer - LOL - he has a boatload to "off" into the lineups at Scotia-Mocatta in Toronto. Last Thursday at 2:30 p.m. there were 29 people in line all buying odd-lot Ag coins. We are not at 1979 mania levels but we are surely close...
I am long Ag shares only now and looking for an exit - but I am still long gold and have no intention of trading it.
I am permitted. I have been invested since 2002 at $4 so I am permitted to make the call.
Never underestimate the power of greed in formulating a definable top in anything...
On a second note, it will be interesting to see how the miners react after earnings as the Q1 average silver price was just over $31. We have spent a majority of this quarter well over that.
Lets not forget the amount of free cashflow being generated even at $35 silver.
This was the troll feast of the day, responding to their stupidities and innaccuracies with reason and argument.
They feed only on attention and never change their minds.
A total waste of effort. Ignore them and they will go elsewhere.
Has anyone stopped to think the Silver equities has not kept up with Silver futures because the equities know the futures are UNSUSTAINABLE? seems very simple to me. it always works like this.
http://shortetflist.com/
has some keen trading advice on what is going on with SLV and suggest you take a look. the blog has been spot on
can anyone tell me what program/site/whatever Tyler uses? Aka, where are those charts he gets from? Its always in the same format and i want it.
Looks like Bloomberg to me.
Bloomberg, you can have it too for 2k per month
excuse me, may I rudely interrupt everyones bickering and senseless sensabilities? Thanks. First of all, let US just FUCKING throw all of this total bullshit algo, charts, puts, futures, Com i x, Sprott, shorts, longs, equities, ETF's, Conspiracy Theories(who really gives a Big Flatout Fuck), and ALL the rest of this profusely BORING BULLSHIT and get down to the GOLD & SILVER tacks of the situation! JUST BUY THE FUCKING GIFT DIP you've just been given! WE ARE IN A MULTIYEAR U-P-T-R-E-N-D. Ain't nothing changed, except you get more fucking PM's for your worthless FRNs now. Jeeeeesh. Fuck, my popcorns cold now............
Agreed. I'm planning on holding my physical a long time. Even if price dips to $30, I'm 100% confident that 5-10 years from now, the capital appreciation (if we're still in a dollar system) will be greater than the negative real yield we're getting from cash. It really is great that the price was knocked down...
@sgorem.......OKAY
Sounds like sgorem is going to force the PM prices up by sheer force of will....
silver plummeted due to 4 margin hikes in a freaking week, why the panic? you wouldnt expect it to soar after such actions, now would ya?
Sprott is no dummy, and this is an obvious move. It does have some risk, however. If the stock market tanks this summer due to the end of QE2, it could drag silver stocks down even further.
If that happens, of course, that will be the most amazing time to pile into silver and gold stocks for a long time (though probably not quite as good as October/November 2008, though who knows).
With a few exceptions I think most ZH readers are smart enough to know how to trade and make money, having said that the exchanges and the gov't want to slow down dramatically the advance in silver, as an investor I can see this, the smart thing to do is to buy PUT options on silver for the next 1-2 months, what they are doing will slow the advance, it will keep raising mgn reqs. til it does, however longer term silver WILL hit $75 than $100, there are too many factors influencing it. Unless they gov't. stops printing money and reduces the deficit gold/silver and other commodities will rise, oil as well. Why either fight it or ignore it, profit from what you see and know, fight it and go broke.
It's a simple scenerio, once again for realists looking to protect themselves from the fiat machinations of shylocks looking to fleece them around every corner. Garner more physical if you're still building your stack to the goal you've set for yourself. Accumulate mining shares if you're looking for leverage to feed your appetite for risk, diversification, and a cheaper means to bolster more physical stack building. Spend less time trying to explain to paper traders why you are trading worthless fiats for your "insurance policy" and the longest reigning asset class in documented history of mankind. Waste not your time in explaining to clueless dolts that silver's spot at the table has been solidified by more than it's recent morphing back into an "original money" and currency for the "less than royalty" types of plebes that you most likely represent. Couple that with your knowledge that silver is predominantly "glued" to base metals like lead and zinc...and must be chemically seperated and smelted from other elemental forms on the periodic table....whether these dolts wish for silver to have a purpose in your life or not...it will most likely continue to be mined for a myriad of reasons. Then further factor in the recent gross expansion of fiat currencies over the last decade and ask yourself if trading fiats for physical silver below both it's all time nominal high as well as it's inflation adjusted speculated price point is a fairly decent idea.
Disclosure: Yes, I'm a cannonballer and am fully invested in the precious metals arena...both physical and mining shares. Yes, I've "fucked off" a good portion of my adult life because I got "In" early in this millenium...and PM's have afforded me such an option to entertain selfish pursuits. Yes, I'd like to see more people get involved with such aforementioned insurance policies....not because I want or need you to follow my advice....but quite simply...because I have, as a simple man born into a family of farmers and miners, a built in hatred for bankers and other related social engineers interested in keeping those like me firmly entrenched in the serf/slave class of their societal constructs. The chains meant to bind me were cast off long ago....trust me, it feels good to know there is no parasitical creatures controlling ones destiny.
Gamble all you want...but have a portion allocated to physical PM's...and you will surely have a more fruitful life.
One of the best post I have had the honor to read. Spoken from a true business person.
ditto!
can we say "free money for banksters" (extorted out of taxpayers via govt. "bailouts", or our of savers by dollar debasement that robs the wealth out of their savings) is FINANCIAL SABOTAGE yet?
FOFOA: "Debasement is always objectively equivalent to taxation. There is no objective difference between confiscating 10% of existing dollar inventory and giving it to X, and printing 11% of existing dollar inventory and giving it to X."
(where "X" = bernanke & geithner, & bush & obama, & pelosi & boehner's bailouts & QE receiving bankster buds)
http://fofoa.blogspot.com/2010/09/shoeshine-boy.html
On the commons exchange (ebay) there be some good deals on the majestik war nickel. You rich folk have done bid the best of breed 1949 casa de moneda 33.525 gram sterling round up all silly and shit along with it's kin 1977-80. apmex has again the deal of the day on the 1977-79 .720 100 pesos.
Any proper bloke all up in here knows a dollar be 371.25 grains of the precious. Further'r more the historical learn'd know the element ag has always represented male and it's cousin au female.
*Posted previously...but it's important*
Hey all, listen-in. I went into the Perth Mint today, did a big buy. In Silver they had only two 100oz bars left and everything else is...WAIT FOR IT...ancient 10oz bars of various sizes! LOL
Last week there was a line-up out the door and their entire inventory of Silver was cleaned-out.
I has gone from nuying lovely shiney bars to ancient cruddy things that look more like Lead Sinkers.
This shit's going down boys and girls, this shit is going down really soon.
A "guru" selling is never a top. A guru "going all in" can be one.
SLV upper price gap tomorow! Bitchez!!!!!
this guy was up 30% in feb, 40% in march, 60% in april and already up 12% in MAY. You can autotrade these signals in your brokerage account. These returns COMPOUND. great way to turn paper profits into physical silver EH?
http://slv.collective2.com
CME just raised margin requirement on silver AGAIN!!as of ~ 9:18 PST. Raised by 11.6%
Osama wasn't allegedly killed on May 1, it was (supposedly) a week or so before. They just decided to announce it on that particular day. Also Hitler's alleged death was days before the May 1 announcement. last year we had the contrived Times Square bomber incident which was used as justification for more involvement in Pakistan and one year later we have further justification of involvement in Pakistan, to the day. Additionally the Illuminati were founded on May 1, 1776
From what I have seen the sacrifices of both the Earth itself and humans paid in blood and burning flesh is generally done between April 19 to April 22. The 13 day ritual begins on April 19 and ends on Mayday or May 1.
Here we go again. Silver is crashing to 30, during May: (the chart is so old (March 13th) and bit off in timing, its already boring, but its still valid):
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
Bought some $600 of junk silver on ebay over the weekend at around $46/ounce and bought some more today - the weekend buy seemed high compared to the flash crash but I still love my precious. 1- i own it, 2- its here next to my 44 mag, 3- i love the sound of it, 4- its real money in case the SHTF.
Very little in gold (about 10%) and I've tried to read FOFOA but I don't get it - it always refers to "read the archives" - if the message is not simple and requires more than 4 lines or 4 paragraphs, the message and meaning is too complicated - maybe I'm just a dumb ass - but I subscribe to KISS, keep it simple stupid.
If any FOFOA followers could distill it down I'd love to hear how gold is king and silver will die - but please, KISS, I'm a dumb ass.
Silver was up 100x in 1970s and if it repeadted the performance this time around we would be looking at $400+ silver prices.
Silver always outperforms gold in a bull market and will continue to do so. Do not sell your physical holdings, even if Meth Man is right and there is a correction we will see higher prices than today before too long.
The worst thing that can happen to you in a bull market is that you lose your position. You may think that you can sell now and buy back at $20 or $25 but what if you miss the dip and silver rockets to $65. You have now lost xour position and will likely not be able to get in again.
43,2. 14% below Last Monday peak. Sustained ongoing correction.
i love silver
I think silver will be down to thirty when OBL will resuscitate out of the sea!
I just became the proud owner of 100 SLV June 40 puts @ $3.10 each, a nice hedge against my physical holdings, will sell 1/2 when SLV hits $40 and 1/2 at ~$37, still bullish but won't fight the margin increases, they are bigger than I