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US Mint Reports Soaring November Month-To-Date Silver Coin Sales Surpass 2010 High Following Massive Rush Into Precious Metal
Is Max Keiser's attempt to put JP Morgan out of business working following the mother of all silver physical squeezes? The price of silver has been stable in the past few days, but if the US official precious metal seller is to be trusted, this will not last long. According to the US Mint, sales of 1-ounce American Eagle
silver coins are headed for the strongest month since at least
May, Bloomberg reports. And according to our update, the May total has not only been passed, but the November MTD total is already the highest in 2010. More details: a record 3,775,000 silver coins have been sold this month, compared with 3,636,500 in May, according to data on the Mint website. Silver futures in New York touched a 30-year high of $29.34 an ounce on Nov. 9. American Eagle coins also are available in gold and platinum. The Mint said 62,500 ounces of gold Eagles have been sold in November. What is interesting is that sales of the coins continue at an astronomic pace despite the nearly 10% premium one has to pay over spot. What is more interesting, is that the Mint has not run out yet. Yet the refreshing thing, is that instead of buying paper certficates promising that one's presumed purchases of gold is held by the DTCC, Americans are once again going straight into physical. Here is hoping Keiser's plan ultimately unravels whatever the RICO suit against JPM and HSBC leaves untouched.
From the Mint:
| Month |
One ( oz. / #coins ) |
| January | 3,592,500 3,592,500 |
| February | 2,050,000 2,050,000 |
| March | 3,381,000 3,381,000 |
| April | 2,507,500 2,507,500 |
| May | 3,636,500 3,636,500 |
| June | 3,001,000 3,001,000 |
| July | 2,981,000 2,981,000 |
| August | 2,451,000 2,451,000 |
| September | 1,880,000 1,880,000 |
| October | 3,150,000 3,150,000 |
| November | 3,775,000 3,775,000 |
| Total | 32,405,500 32,405,500 |
»
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oh what kind of cars do you drive in Ireland SnS? how big is your wine cellar? what temperature do you keep it? thanks. french antiques, i suppose.
i liked the poem you wrote on
Sun./07/18/2010-01:49 Spin.
oh, that was my time when i was on real time MST, what is your standard tribe time?
We drive tractors and Lada's (Russian cars), i have never measured my cellar or took its temperature but it holds a lot of wine, my antiques aren’t French and i am glad you enjoyed my poem.
"gold is just another idea"...I love that, did you get that from the TV?
Wow. USD is the world's reserve currency. The world has a vote.
I am voting early and often.
@scratch_and_sniff,
"gold is just another idea"
"The trade in drugs, alcohol and guns is completely different, i.e. they all have uses!"
... gold & silver have uses, as money (amongst many others). Why else would they be trading at 100:1 against their value. Drugs, alcohol and guns may be commodities but they are a long way away from trading fractionally.
MB? Is that you? Sounds like you. Any who....
You mean the same government that failed to mitagate Katrina, the same one that loses war after war, this government is going to try to confiscate precious metals? And what about when the rumor starts that 'They aren't just after our gold. They are after our guns, too!" Will you be showing up at the doors of angry Americans' to try and convince them to let you come inside? Walk the walk boy!
How exactly does one confiscate small, easily portable physical posessions with the stroke of a pen?
I guess that means the government owns all the drugs too!
He would have us believe the government establishment owns our souls.
Its like this mate, if i started up a community, and we invented a means of exchange, say bits of finely woven cloth(whatever), and we traded amongst ourselves and everything was fine or thereabouts. What happens when we need to buy a tractor say, from the outside world with our bits of cloth, will the manufacturer of the tractor take our currency? For the sake of the argument lets say one day we are taken on our word, and they accept. But then we have to buy fuel for the tractor and pay tax on it; will the government take our currency for tax? Fuck no, they will ban it, (obviously) just like anything that might infringe on the government issued currency, and since licensed establishments cant take illegal tender, the means of exchange is then redundant.
The government wont roll over, if they see that the people are using foreign means of exchange with any clout, they will crush it. The same thing would happen with gold, if a gold standard is ever to come about, it wont be the will of the people that puts it there, with underground trade or the like.
So the government will ban bartering.
People take silver and gold for food, services, anything they want TODAY! It is happening, has happened and will always happen. The government can't stop freedom no matter how hard it tries.
You clearly like being a slave - some people are like that.
I never said they could ban bartering, you can barter until you are blue in the face with whatever you want, its small-time shit. You really think America would have achieved what it has with only plebes bartering amongst themselves? Wake the fuck up man, give yourself a shake and have a look at the size and complexity of your country and our world. What I am saying is that sovereign government needs absolute control of its currency issues for all of its policies and governance to be effective. And you put them there to do it. If they had no say over currency issuance the country would simply fall apart; they don’t ban foreign means of exchange because you are they’re slave, they ban it because ifs a fucking nightmare to manage. One way or another, no matter what paradigm you are in, your country will need to be governed, and that government will need to issue its own currency, and if it comes under threat, it will act.
ironically, America became what we all think America IS on a fucking metals standard. Kinda written into the Constitution and shit.
It is the height of absurdity to relate this debtmoney shit we use now as somehow responsible for our relative "wealth." In fact, the debtmoney has made us objectively poorer and is now threatening the entire INSTITUTION of America.
JFC, do you forget Bretton Woods?
Two questions for Scratch_and_Sniff:
1. What's the value of a shiny metal 1 ounce coin that people are willing to pay $1,400 for?
2. What have you been scratching and sniffing?
Two replies for SilverIsKing
1. The value of a shiny metal 1 ounce coin that people are willing to pay $1,400 for, is $1,400.
2. The silly name comes from magazines where you scratch and sniff a sample of fragrance.
not G O O D smells, scratch.
Yeah, but still the richest country in the world...
the more debt we have, the richer we are?
On what metric?
We're not the highest GDP per capita, income per capita, production per capita, QoL per capita, anything.
We're only #1 at bestness.
What are our houses worth? WTF is our productive base worth? What do we actually own that ISN'T encumbered by a mountain of jew confetti?
While standing in line at the pharmacy the other day, I noticed the following sign above their register: "Only Cash or Credit Cards Accepted"
Please explain how you'll 'barter' for say...lifesaving meds...post-apocalypse.
Hint: they won't accept chickens...or gold.
People will accept whatever medium of exchange as long as there is a trade of value for value, or they will accept what the group with all the guns tells them is the medium of exchange. Nothing more.
Your finely woven cloth as money would either need to provide value to others (the tractor maker, and gas merchant), or you need to declare by fiat that it is money, and be prepared to punish those who don't follow your rules. If your finely woven cloth provides enough value to enough people, you could sell it for the money the government requires taxes to be paid in.
Ya, They have done such a great job confiscating all our pot for the last 30 years... They even had a formal "War" on it.
Keep the thought alive that the Gov has power to take away what people want.
Like all those felons who had their guns confiscated. LOL
You're a riot. Keep the faith baby.
Yea. Becuase that has worked so well in history.
Oh, right. It hasn't.
Royal Canadian Mint reports record sales of Silver and Fractional Gold Maples as well.
Nice pickup. Link?
http://www.bbc.co.uk/news/business-11796346
excuse if this was already posted somewhere
Roubini Maps Out Nightmare Scenario of Domino Debt Collapse in Europe
http://www.cnbc.com/id/40271476
Hasn't Roubini learned a thing since 2008?
There is not going to be any "debt collapse".
Jawboning, talking tough, and posturing will continue until the last minute.
Then the suffering banks and bagholders will get bailed out.
Or Ben could choose the "nuclear option", which is to nationalize the entire mortgage industry, void all current title policies and mortgages and re-write new ones.
And all credit-based derivatives on all MBS securities are hereby effectively cancelled.
The stock market is already telegraphing this by rising relentlessly every day.
Paul Krugman's Solution to the Debt Problem: Government Spending
http://www.cnbc.com/id/40275977
a Minsky moment
http://www.google.com/images?hl=en&rls=com.microsoft:en-us&rlz=1I7ADFA_en&q=minsky+burlesque&revid=784893536&wrapid=tlif12902021579061&um=1&ie=UTF-8&source=univ&ei=Q-zmTOfzJYWisQPd_qixCw&sa=X&oi=image_result_group&ct=title&resnum=2&ved=0CCwQsAQwAQ
Paul Krugman is a perfect of example of the parasite presenting itself as the cure.
Famous last words from the infamous Robo...everything is alright until you post a "limp dick" chart telling us everything is collapsing and being "blowtorched".
"There is not going to be any "debt collapse"."
I generally like your posts Robot but here you seem to be falling under the spell of the likes of Mish.
The debt of the government can only be stretched so far, you think nationalising the entire mortgage industry won't stretch it even further?
And your Uncle Gorilla argument doesn't convince me. The government cannot endlessly enforce its legal tender. Just ask Robert Mugabe, a harder arse bastard than anyone in the White House I'll bet.
you think nationalising the entire mortgage industry won't stretch it even further?
AUD is right Robo. While Billy and the Boys @ PIMPCO are putting their $$$ on this outcome, I find it hard to understand why they aren't watching demographic shifts taking place. (the trade vs. the investment) You need growth to pay debt, simple as that. Tell me where the growth is going to come from? The world is watching us and they will continue to marginalize us as we continue to look only at short term solutions. There is no way this ends pretty.
bullcrap robo. junked you for being disingeneous
RobotTrader, do you think that government(s) would really be so happy to bail out the liabilities in the shadow banking system as well even in the future?
According to The Fed, cited by Bloomberg, shadow banking has 16T$ of liabilities Q1 versus 13T$ for banks. If something goes wrong with the shadow side of the system, bailing it out would be even more inflationary than bailing out the "traditional" deposit-funded institutions.
This is a great systemic risk. (Lehman Brothers was the top 3 ABS bookrunner in 2007.)
http://www.bloomberg.com/news/2010-07-16/shadow-banking-debt-levels-stil...
financial weapons of mass destruction must be dealt with using "financial missile shields." i am told however "there is no defense against missile attack" and "all we are agreed to is Mutual Assured Destruction."
Robo, excellent thinking and the first time I've heard of this scenario and it is very believable in my estimation
the state is now elevated to God status, and it can grope, confiscate, vaccinate and legislate (itself as sovereign, incontestable) at will
in an environment like this, intelligent people will be running scared and scratch sniffer will que up for the glorious Soma
I posted a Boatload of Charts, some good indicators. Check it out and comment please.
http://oahutrading.blogspot.com/
Let's have a clip of Max screaming. It was ... amusing. There is a good chance of it coming off.
wait till silver production peaks...then lookout.
As an aside, take a look at the dynamics in the Helium market.
The US is *selling* its strategic reserve into the declining production base of the He market, effectively doing what CBs did with gold for a decade.
Someone find me a Helium ETF because this shit is RIDICULOUSLY useful. In fact, there are NO substitutes for it. For heavy doorstops, I can choose gold or platinum or even tungsten. For my SUV, there's NG and I can run my HDTVs on nuclear or coal or burning ground up street urchins. But for supercooling those MRI magnets and a host of other bleeding edge high tech applications, there is nothing else but Helium.
But is a helium bubble safe?
MUCH safer than a hydrogen bubble...
dontcha mean "balloon safe"?
haaaaaaa +2 electrons
There is no substitute in many applications liquid hydrogen does not cut the mustard in many crititcal applications. But, the real question is, can you eat it?
I'm not quite sure how Helium production could do anything but plateau, given that Helium from the ground is a product of radioactive decay, and I would expect it to escape quickly upon generation. It seems like it would be pretty weird for all those radioactive elements to just happen to give out within a hundred or so years of us starting to use it.
Or is this helium trapped in rocks? I don't know much about Helium production operations.
so then try, for a change, LISTENING TO ME when I talk about production peaks?
Helium production peaked in 2002. The amount of production supplied since has declined YoY. How would you expect it to plateau?
Like oil, the Helium we are extracting was built up over bazillions of years. Whether it was dying dinosaurs or abiotic microbes, the process is analogous to alpha decay. The results get trapped in rocks and we poke holes and out comes the stuff.
Helium is found trapped with natural gas deposits.
Now, let's address why you are stating an opinion about what "seems" plausible given that you subsequently admit total ignorance...
Ok, trav, I'm listening. Does any serious amount of helium occur from fracking? Any idea of the loss rate? If I drink a gallon of water from my faucet in a fracked up area, will I float away?
Well, sheeit...if it WERE occurring from fracking, I would expect that this would been reflected in the production figures.
Helium may or may not be trapped in shale. Most of the helium produced has been coming from convention gas fields, like the Hugoton.
We pumped a lot of it into a He reserve which we passed a stupid fucking law REQURING to be sold off because the thing cost $1.4B to build. $1.4B is a rounding error for DoD in any given year. So we are selling He into a production decline, artificially depressing prices.
While, you know, China is stopping exports of critical rare earths.
I guess we'll need to go back to the moon then, won't we?
http://www.energyandcapital.com/articles/nuclear-energy-fusion/366
let's see here...what do you think the EXPECTED production volume would be for getting Helium from the FREAKING MOON?
I hope you were being sarcastic.
I was at the drugstore reading this and saw them fill up the kid's balloons. Tragic use of a valuable commodity.
Thanks Tyler, this is what i've been waiting to see. If this trend continues (& I can't see why it wouldn't), I predict that by next summer the 'fraudulent/fiatulent' metal exchanges will be busted. The figures above indicate a 20% increase from October to November (it's still November?) ... wow, that's awesome.
Gold,
I will take a 10% net gain in 2 days,every 2 days,all week, and month,year.
And I'll take a 30% net gain in less than 2 weeks, the same way.
And on just plain Slvr Bullion.
It will be $50.00 no later end of Jan, unless we get the Euro head fake crash, then it will be a great time to load up more.
Slvr right now, has a lot more percentage of gain per dollar potential than Gold for fast moves, and very nice profits, wth NO downside longer term.
Indeed silver, but big money needs a place to go & historically gold is it. Gold needs to be in circulation as well for the sake of more liquidity.
Doesn’t really matter though because until they are used as money again … they are just collectable precious metals.
I’m with you on silver … but I personally don’t think silver will go to $50.00 until Feb/March.
I agree, Gold is the ultimate haven.But Gold IMHO, will NEVER again be in circulation as currency (not in a Wetern Country).
But,no one has ever issued a Confiscation Order on Slvr.
YET.
End of Jan, Feb, March who cares.It will get there.
IMHO, due to the Chinese, Indians, and Rooskies, Gold is going to launch, and those that have will be happy campers, those that are w/out, will be weeping bitter tears.
Jim Sinclair says we are at that moment.No one with more experience I know of that Jim, as far as reading Tea leaves.
Does it matter if gold or silver will outperform the other?
Not too me. Buy both! And you cover more bases.
Being too optimistic … Silver has gone up 25% per year for the last 4 years. If silver goes to $50.00 by the end of 2011 ... that would be a big deal. Keeping with the 50:1 silver:gold ratio, it would put gold at $2500.00 & I doubt that it would happen that fast ... time will tell.
Has there been a sudden rush for the Obama Inaugural medallion?
No, it's a special edition Bawney Fwank FM/FM BenDover Award.
A 5oz Medallion................
...with a hole in the middle.
...and vaseline included
Can you warm all that up in the microwave?
I heard they were going to mint them out of cotton and paper, but with the rise in cotton, they decided on plastic.
The Devil Wears Prada...
http://www.cnbc.com/id/15840232?play=1&video=1310002361
i really doubt if that is Prada. plus, she is really really short.
Guess I should mention the clip is a "rare" interview (from awhile ago) with the one and only Blythe Masters!
Buy Silver... watch Blythe squirm!
Pun!
As a note
the 2010 ASE Proof goes on sale today. Pent up demand is huge since they did not produce last year. I would guess 1 million plus today alone, if web site stays up and phones at mint still work.
...it sure worked for me... :)
Get out and buy 10 more oz. of Silver...
also
Google >> Gordon Duff the California Missile
and go to youtube >>> Wayne Madsen Ballistic Missile
this is Big News ....
I love all these "it can't happen here", "it won'thappen", "I don't want it to happen, therefore it won't happen."
I don't care if gold goes up or down I am buying and holding (silver too). Yes humanity has come through tough times, but not Americans and not under the coming conditions.
I hate gloom and doom, it's not American either, but anyone who trusts the US government to do the right is just plain ornerously naive.
For example we have been at war in Afghanistan for almost ten years and now they send in the tanks. WTF?
more,
Now the tanks............yeah, tired of the IEDs.
Also, appears they are going to have to take over Pakistan.
Al Queersda, has all but taken it over.
NO WAY we can allow them access to Pakistans nukes.
Those crazy bastards will not think twice before Screaming Allah Akbar!!, and pushing buttons.
"Those crazy bastards will not think twice before Screaming Allah Akbar!!, and pushing buttons."
And you have a problem with that because???
A state of war only serves as an excuse for domestic tyranny.
~Aleksandr Solzhenitsyn
See I saw that story and my first thought was "Ah moving the tanks in, so who else are we invading?"
Tanks are nearly useless in that fight. It's a low intensity guerrilla conflict and in rough terrain. Those tanks were built to fight the Soviets in Europe. The Abrams is a logistics nightmare too. For the comedy it's also not that useful in stopping anti-armor. The Hellfire has enough AP punch to go through the entire tank.
was thinking the same thing. ol mallet to kill a mosquito...
Wow, buddy, here is an area I truly know of which I speak. The purpose of M1s in that terrain is for the heavy weapons support. That 120mm makes a great direct fire support weapon when loaded with HE rounds. Takes down adobe huts filled with Ali Babas faster than you could call for fire for effect. About the armor, don't know who you've been talking to Skippy, very few AT rounds can defeat the M1's armor and only at very limited locations. BTW I've seen a hellfire hit an M1. Hit the back deck and destroyed the engine, crew got out just fine. Not quite going through the entire tank.
Probably it is as good as Shermans against Panthers were in WWII. As long as you fight Donkey Cavalry Brigade in Afghanistan is totally useless and costly. For sure it is good for taking out "Ali Babas filled huts" but I thought it's not the purpose of this war, am I mistaken?
You are mistaken. The stated purpose of the war in Afghanistan is the destruction of Al Quaeda and the Taliban forces and to assist in the establishment of a secure working government in the country. Part of the mission requires tracking down members of AQ or the Taliban. They have, in many cases, hidden inside of buildings or behind cover. Instead of risking an infantry assault against a hardened position, it is safer to have a tank send a few HE rounds against such target. It is also much easier at limiting innocent casualties and destruction of property because you can aim the HE round vs. walking it in with indirect fires.
You need to figure out what Chobham Armor is.
Second, the tank may be cheaper to operate for fire support than jets or even drones.
MaxKeiser has brought the cavalry to our battle and it is a great relief to finally have them here. Thanks to this recent attack on, specifically, JPM (due to their silver short positions), we have built another wall of resistance at $21-$24 the banksters can not break. Although it is not important to understand the reasons for owning silver, as long as one does own the metal, they are still worth knowing. The main one is that silver is cheap, and precious metals are monie, but by taking away the banksters ability to manipulate markets, specifically the silver market (considering that it is a hedge against not only the dollar but oil), we take our destiny into our own hands. The reasons for owning silver bullion go on and on and on......
in germany we dont have reasons to hold silver bullions. due to the taxation of bullion of 19%, the 1kg coins are cheaper (coins only are taxed with 7%)
so i bought a lot of Koala-coins
I don't care if the paper GLD and SLV are up or down,
I am a buyer, a hoarder of the shiny .999 physical silver.
JPM, fuck you!
I am so glad they publish the ounces and number of coins. I always get fouled up using that factor of 1 conversion.
Someone told be Cheeky is selling silver to book vacations to Ukraine. Any truth to this?
http://www.chinasmack.com/2010/pictures/ukraine-prostitution-problem-chi...
This is bullish on the economy right? Shows that Americans are out in force buying :)
I've got a great idea. Since the goverment needs money and silver is abundant (at least according to Blythe Masters), AND treasury can charge $2.00 above spot, why not sell them at banks? I mean, the mint's shipping coins to the banks anyway, why not throw some Eagles on the truck? Maybe the post office could sell them too!
Wouldn't that increase sales?
And geez, if I were in Turbo's shoes I'd also want to roll out those five-ounce coins ASAP before silver crashes.
(haha)
"why not sell them at banks?"
You think the Treasury trusts the Banks, with REAL money?.
LOL
BTW, you USED to be able to buy them from Banks.Been quite a while.
"You think the Treasury trusts the Banks, with REAL money?"
Yeah, what was I thinkin'?
I didn't know that the Eagles were ever sold at banks. How long ago was that?
I was buying them at my little local bank about 8-10 years ago. They also had pandas and maples.
"why not sell them at banks?"
You think the Treasury trusts the Banks, with REAL money?.
LOL
BTW, you USED to be able to buy them from Banks.Been quite a while.
The mint stats on bullion purchases and the fact that they stopped producing the uncirculated versions due to bullion demand has to make one wonder just how the spot price is still so ridiculously low...
CRASH JP MORGAN - BUY 1 OZ of SILVER!
The country is under attack. Through the issue of plastic, paper, and base metal money handful of criminals can determine the value of our labor, land, and resources. Banksters are marching into sovereign countries and now dictating policy. How far they penetrate remains to be seen.
This has been their modus operandi throughout the ages. In fact, the average lifespan of fiat currencies is 40 years. Since the inception of the Federal Reserve the US has lost 97 percent of its value. Only 3 percent left...
Is it just I or did anyone else notice the opening price for the GM I.P.O was the same number as the address on Liberty of the Federal Reserve Bank of New York?
http://online.wsj.com/article/BT-CO-20101119-711700.html
Sorry, man, but you're mistaken: it's actually the number from the back side of those old Rolling Rock labels.
Can you say bubble
http://campaign.r20.constantcontact.com/render?llr=ira8vadab&v=001OwqOR7...
To find out more about the Imminent Collapse of the U.S. Dollar, watch the video "U.S. CREDIT, DOLLAR COLLAPSE – CAPITALISM DESTROYED" at (http://www.youtube.com/watch?v=BWKDmMERKZg).
by Anonymous
The United States is the Titanic and has been driven straight into an iceberg at the expense of the American people!! It’s time to buy Food, Guns, and Ammo as Survival Techniques will be the new vogue!
Are you sure your real name isn't Jim Willie CB??
LOL...
Robot, don't say that or they'll think you're paranoid, then they'll say you and I are the same person, just because we both use scare tactics to keep people from gold
JPM is probably the one buying all these coins to cover. I saw two flatbed trucks heading up the NJ Turnpike towards New York yesterday with large plastic crates that looked suspiciously like they could have contained bullion. Most of the crates were white and a few were yellow. Hmm?
Faith is silver out dates faith in Jesus. Why are people just now getting that putting some faith in it (owning physical) is a good thing.
I find it interesting that our children immediately got the reality of PM ( they love the idea of treasure maps) but my wife..... she refuses to get it.... guess I'll have to buy her something shinny - like a new car bought with PM equity trades.
WTF? Women in general, do not understand money, that's your job! Take charge dammit.
Good god but you are a stupid fucker.
jwind
where did your avatar photo come from
Vancouver bullion dealer recalls 1980 Hunt Brothers silver market http://www.youtube.com/watch?v=oH_d05zEimc
Big difference with than? Supply!
Silver Porn (Scroll Up for loads more) http://forum.prisonplanet.com/index.php?topic=191915.msg1142918#msg1142918
if everybody buys silver then it will be time to get out of silver.
that sucks because i like silver.
+1. Information like this gives me pause.
I like you too.
I love comments like this because it shows how very far we still have to go. For every person on planet earth to have just one ounce of silver it would take 20 years of mining. And at today's prices 6 billion ounces of silver is only worth 180 billion dollars. That's 25 days of POMOs!!!!
Everybody can't buy silver. Period. End of story. There just isn't enough silver.
Silver is going to one thousand dollars an ounce in the next couple of years.
if everybody buys silver then it will be time to get out of silver.
You have nothing to worry about. There is only one ounce of above-ground silver for every four people. Demand will far exceed supply.
is that really true? i'd love to see those data. and the ratio of Au:humans as well
The CPM group estimates that there is approximately 300 million ounces in above ground silver as of August 2010. Of course, twice that much is mined every year, but we use quite a bit more than we mine, and inventory data is likely skewed upward by fraud in the COMEX warehouses. Above ground gold is estimated as approximately 4.6 billion oz.
So yeah...
Thus making it all but useless as currency!
Why? It's infinitely divisible.
Infinitely? Hahaha.
Sure, we'll conduct modern financial transactions in nanograms of silver. Uh huh.
"That'll be 3 atoms for your burger please."
"Hey, keep the spare neutron."
This morning I just bought 25 Silver Eagle Proof coins for $45.95 from the Mint. I saw on Ebay this afternoon that they were selling for $90.
i was secretly hoping for a real collapse in S&G prices, because i was looking to load up on more. i'm not an economist but my gut feeling tells me both are still far undervalued. guess i shouldn't be so greedy! :)
Just picked up 20 bars on Wednesday (no not 1 oz) and will be seeing them home shortly.
Been buying silver/gold for the last three years now - every green back gets converted.
Sold the house in CA at the end of 06 (Killer Deal), pulled out the 401, IRA, and closed every brokerage account.
NO PAPER ANYTHING
Un-paper, bitchez!!
^^^^ strong work! Got food? Food Bitches.
Well done!
+fity
My local coin shop, a metropolitan one I might add, was out of silver rounds last weekend(!) First time that has happened since I started dealing with them in 2001.
/JPM!
local coin store here was Little Calcutta last weekend an hour before closing. Wow...talk about odiferous...lol.
Fortunately, I was able to use white man privilege and get to the front of the massive line quickly.
Doesn't anyone here feel an eery chill up their spine...like this is way too easy? Your mind immediately shifts to the .com bust and the real estate bubble. You fight it off, thinking...naw, this is real money we are talking about...and just look at what the central banks are doing...it makes perfect sense. It always makes perfect sense at the time. Hey, I'm not saying anything, I'm just saying...
i dunno, it depends on what you're looking to do. I don't envision selling 5 years, 10 years 15 years from now...situations change of course and one would have adapt thinking to the realities..but that's just me thinking about the future 'n all...I told my wife the otehr day, I could a fuck what happens to me..those lil unums have to be accounted for tho
Definitely. It's hard to see from where we're at now, but if they 1) resolve the multitude of entitlement overhangs at the federal and state level; 2) address global imbalances without trade war; 3) improve immigration policy to fix the American demographic pyramid ... well then ... soft default by devaluation would not be necessary and PMs as a store of value would become less appealing. People would in retrospect laugh at the current enthusiasm around PMs.
(Not trying to be sarcastic ... it *is* hard to see from here ... but the herd is always wrong so if the herd is 100% behind PMs it must be possible.)
As popular as this site has become, and as much as I like (most) denizens here, please bear in mind that this community is still "little" compared to the 550M or so in the US and EU -- and the vast majority of these people do NOT hold significant amounts of PM other than jewelry. Much of the "herd" is out there being fleeced by a deluge of 'we buy your gold for top dollar' signs and shops. Or simply cannot afford "wealth preservation" due to the simple problem of lack of wealth. Nevertheless, I value thoughtful counterpoints and reasoning as to possible reason for Au/Ag price collapse (like fall 2008), or the EUR disintegrating. But again, what proportion of the American public bothers to know about such piddling details?
so much noise, so much dissonance. the herd does not know what to think..especially since MSM has been off with their calls so bad..straight up. not alot of folks with PM in hand
Crash Jp Morgan buy a monsterbox.
PM really good for wealth building.
http://www.youtube.com/watch?v=dH3gInaB3Uw
Really funny to watch gold and silver doing
an accounting against fiat.PM will smash paper
big time.Happy to be on the good side of this one.
Hope someday we will have sound money,because
it will lead to beter allocation of capital and better
price discovery mechanism witch will lead to a more
productive society.Just dreaming...................
You ¬BYTE¬ your thumb at me Sir?
Well then. And I. Do mean Well.
Throw a penny.
for in deed we are borne and in action we are song.
G O O D, cause i am running out of Benjamin's, faaaaaaaaaast†
I was and am there! Long live ... and live long me friends. Let the spirit be with you!
I have but one word but many meanings. The detail is in the de vile.
Bde...ville
http://www.google.com/imgres?imgurl=http://www.cadillacautosinfo.com/wp-...
Just curious: How does one prove that JPM has a specific silver derivative exposure?
Their SEC filings? somewhere else? thanks in advance if you know...
They say they have.
They say they have.
In a word.
See that stick over there? No? Are you sure? Whats with the ??? that is the question?
das ich in men
Max rocks!
Everything Tyler "Tokyo Rose" Durden posts on this site, just fade it and you'll become unimaginably wealthy.
I can't imagine.
You mean like gold and silver? Yea, terrible returns. How about the call to buy EU CDS' at the lows - up what 300-400% since then?