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The Weekly Peak: Is Silver The Next Gold?
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In order to break the historical high, silver really has a long way to go.
anyone seriously interested in silver should read about and understand the delivery situation that the COMEX is in. JPM and HSBC are believed to be holding massive, galactic sized short positions -- to over 1 billion ounces of silver at this point. Amassed over the years to control the price.
Now, longs are taking delivery. In a very large way, and JPM/Comex/the Fed does not, i repeat, does NOT have the silver to deliver in these quantities
In short what those in the silver market have always known -- that some day this was all going to explode -- is happening NOW.
Let's not even go into the CTFC's role here.
Anyway, if you'd like to follow this looming catastrophe read Harvey Organ blog. Every day, he tracks the flow of delivery notices and actual inventory at the Comex........
and.....it seems the shelves are bare.
and the more people that know, the more people are refusing to knuckle under to the manipulated "attacks" that JPM stages in the marketplace.
that was what was literally sickening at the CTFC hearings. they had a whistleblower WHO TOLD THEM WHEN AN ATTACK WOULD BE STAGED, DESCRIBED IT IN DETAIL, AND THEN SAT WITH THEM AND WATCHED IT HAPPEN -- PROVIDING COLOR COMMENTARY -- and what did the CTFC do?
Nothing.
And a day later, a car attempted to take out Andrew Maquire in a hit and run in downtown London.
Its that bad in the silver market.
Don't sell into the fake prices.
+++ I'll add that Harvey Organ did a nice summary of some of the comex terms yesterday (Sep 16), for those unfamiliar.
got any good links to info about jpm silver manipulation?
google Andrew Maquire...that will get you started.
Read Jim Willie.
Links to comex issues:
http://harveyorgan.blogspot.com/
http://agaupm.com/category/silver/
Links and websites with JPM issues and general silver info:
http://gata.org/
http://www.lemetropolecafe.com/
http://www.bullionbullscanada.com/
https://www.kitcomm.com/forumdisplay.php?f=8
http://www.caseyresearch.com/gsd/
http://www.24hgold.com/english/home.aspx
Just a few that I like.
Jim Willie index http://www.marketoracle.co.uk/UserInfo-Jim_Willie_CB.html
Jim Willie just released another article on Kitco, Jon Nadler must be in a tizzy over it.
Here is the link: http://www.kitco.com/ind/willie/sep162010.html
Anything that causes Jon Nadler discomfort and grief is a good thing. I hope Satan has a very special, especially warm, and gold-lined corner of Hell reserved for that lying, despicable SOB.
Pan-Galatic Gargle Blaster: Like having your brains smashed out with a large gold brick, wrapped with a slice of lemon!
It's so blindingly obvious why Gold and Silver are rising in price -- the odds of fiat currency default(s) are approaching 1:1!!
Edit: removed duplicate post again; only hit the save button once.
youtube is also loaded with tons of material..
I wrote this on the subject, which focuses on the CFTC's BPRs (Bank Participation Reports), and what they tell us about HSBC and especially JPM:
http://banksterreport.blogspot.com/2010/04/real-v-paper-will-cftc-stand-up-for.html
There is a huge schism between paper silver and real COMEX deliverable bars. If you research the Hunt Brother's and "Silver Thursday" in 1980, you'll find that though the COMEX price of silver was printing at $50/oz, this price was only translating in the real (physical) world to 1000oz deliverable COMEX bars--in other words, it was a premium on the specific bars needed to legally satisfy the contracts (1000 generic rounds does not satisfy a COMEX contract). It was a classic "limited-quantity available" squeeze, because there were waaaay more paper contract than there were deliverable bars. (We are in the same situation today, of course.) Incidentally, this is why some people today take possession of COMEX deliverable bars. There are many opinions on this issue. And remember, silver is a very small market (which is why JPM has been able to keep such a solid grip on it). Its really rather exciting!
Be sure to check out the other links too to Harvey Organ, too.
Platinum is the next gold. It has relatively higher production costs than silver and gold. The only reason it is not at $3000+ is because it is not regarded as money yet - just an industrial commodity.
Plat will never be money. It's an industrial metal.
You just sit and watch.
You are such a dick.
Plat's not leveraged. So it spikes like a fucking sonic the hedgehog when rich people start going broke. They are currently working on about a 2800 to 3200 dollar spike on it.
Have you never played D&D?
+3 magical portfolio
win
XPD #964 and XPT #962 are the ISO currency codes for palladium and platinum respectively, they are already considered a currency.
nothing is the next gold.
silver feels cheap compared to gold.
Ill give you that..I does feel cheap when compared to Gold, It acually feels cheap when compared to Copper..
Copper is another story, isn't it? Its been almost 30 years since Congress authorized the Treasury to cease its use in pennies (it is still in nickels, which are 75% copper and 25% nickel) because Treasury couldn't afford it. Its so sad: first we couldn't afford to keep our worthless paper money based on gold, then we lost silver, then we lost copper, and today, nickels even cost a little more to make than they are worth! And at the current copper prices, a pre-1982 penny is worth well over face value. Here's the breakdown:
At $3.00/lb, a penny is worth 195% over face.
At $3.52/lb (today's price), a penny is worth 227% over face.
At $4.00/lb, a penny is worth 260% over face.
At $5.00/lb, a penny is worth 325% over face.
Penny Arbitrage, baby! http://banksterreport.blogspot.com/2009/12/penny-arbitrage-us-dollar-and.html
(BTW, don't melt pennies because Congress made it illegal. Of course, Congress also made melting silver coins illegal after the introduction of clad, but that has since been lifted. Also, pre-1982 pennies are 5% zinc, and you do NOT want to be messing with zinc fumes in your backyard. That said, by all means, fill up that Arrowhead jug! Its a good hedge: always worth at least a penny.)
it doesn't feel 60x cheaper, maybe 15x cheaper
has anybody heard of American Gold Exchange. My reccomendation is to buy bullion coins. is this a sound idea?
edit comment
Might be nice to have a few shares of SWC. They seem to be a good platinum group miner in Montana. I sold mine and regret it. Platinum has the advantage right now of being off the radar screen of JPM and GS. But silver seems to the best bargain. Still a very low price in relation to what is expected of it.
Re: Platinum has the advantage right now of being off the radar screen of JPM and GS
Just before Platinum dropped from around 1700 to 1500 a few months back, GS was calling it 'the new gold', so not entirely off their radar. But it's true I haven't seen anything since (about Platinum, anyway) from those sources of misinformation.
Regards
Thank you for your report Abigail. However, I think you should include some information about the massive short positions held by JP Morgan and others. In other words, while the silver market does look very promising, it is also heavily manipulated and therefore subject to big swings. Ultimately, I think that the paper shorts will be overwhelmed, but the silver market is not for the fainthearted.
um, they are being overwhelmed now. only with the collusion of the British and American "regulators" are the Comex and the LBMA still standing. If you are thinking of shorting silver now, you're tap dancing on a landmine.....
you know what's been fascinating about what's been happening this past week at the Comex in gold and silver has been the complete -- and i mean total -- mainstream media blackout on any indication that anything out of the ordinary is happening.
given the incredible reprecussions that will result when these two "operations" in gold and silver fail -- and the implications for the US taxpayer, cause you know Ben will print up the cash to cover JPM's losses -- you'd think that someone somewhere other than ZERO would be covering this.
on the other hand, the hit rate on zero hedge is skyrocketing. so news is getting out.
"what's been fascinating about what's been happening thispast week at the Comex in gold and silver has been the complete -- and i mean total -- mainstream media blackout on any indication that anything out of the ordinary is happening."
This.
Attachez vos chapeaux, ya'll!
If you are thinking of shorting silver now, you're tap dancing on a landmine.....
Good grief, no. My point was that Abigail never mentioned what's going on over at the CRIMEX. One should take delivery or stick with CEF or PHYS.
Given that Rep Weiner(a Real Wiener, and Henry Waxman(alias porkus pigus) are holding hearings next week dragging Goldline people in, and Ex Employee's (to be the stooges,to rat Goldline out on pushing Investemnt grade shit, and Confiscatory scares in selling practices),like everyone else does in any business, look for the Gov't, to start really getting nasty on Gold, and before it's done PM's of any stripe.
Theses pricks are in leauge with the Devils, and they will do anything to prop up the Treasuries, and FRN's.
And the #1 Enemy to both is Gold & Silver,PM's.
Look, you may not care for Waxman or Weiner, but Goldline is one of the worst ways to buy metals. They are trying to sell 'antique' coins. That's fine, but when you misrepresent what you are selling, then that is a crime under almost every state's deceptive business practices act.
Oh, I don't know. The first gold purchases we made were a couple of bars from Goldline. It was a completely pleasant experience; good price, shipped quickly, and no pressure to purchase anything else.
Since then, we've switched to a local coin shop to stay off the radar, but I don't see what the big deal is with them.
I was expecting a take down in silver this week.
They certainly tried. Buying too strong right now.
One Word,
ASIA..............(China in particular)
And it's just going to get worse.They can control the US market unless we have J6P getting into the act, taking delivery, but not the world market.....and their just in not enough Sliver to go around.
This is all well and good but silver is rallying because the Comex is having significant problems making delivery. Period.
Industrial uses. Jewelry. That's all very nice. But there is no gold left in the silver vaults at the Comex. This is all that matters.
Is there ever gold in silver vaults?
Check the electrum vault.
Is silver the new unobtanium?
There was when Homer Simpson ran the forklift.
There's some silver in my gold vault.
I think you are right; silver is up due to delivery problems. Silver isn't hitting new record highs daily like gold. Except for the delivery problems silver trades with the industrial metals, because it is one.
Silver will rise as each and every of the US$200 billion worth of OTC silver derivatives, is exposed as a worthless price suppressing piece of shit that it is. ( Thank you Jason Hommel for exposing the BIS figures).
None of the international banks are solvent and none of them trust each other to honor their contracts for delivery or to return money lent. That's why there are reports of the LBMA being raided.
That's why silver is going up!
That 300 lb. canary is chirping like shit!
Buy, hand over fist. This ship of fools is going down, bow first, screws at "Full Ahead".
Buy, hand over fist. This ship of fools is going down, bow first, screws at "Full Ahead".
A most interesting analogy.
You think "delivery problems" aren't really a major issue? Do you think you can just open a new silver mine overnight if there are supply issues? Not to mention the fact that silver supply from mines is relatively inelastic due to about 2/3's of it coming from base metal miners responding to price cues from base metals as to whether or not up production. Not to mention the fact that industrial silver demand is relatively inelastic (ie doesn't respond to price cues) due to the fact that it is often a minor but unsubstitutable and crucial component of the products its used in. Investment demand has doubled for each of the last four years. Scrap supply is flat, but will probably increase, even though some experts think a large percentage of the silverware with high percentages of pure silver (unlike silverware today) was sold into scrap in the early 80's.
Does this sentence make any sense: "Oil is up due to delivery problems, which are long term, but it doesn't make for a bullish case" ?
Can we have a volunteer to watch the contango/backwardation charts on silver for us?
A volunteer other than JPM, or anyone at COMEX? :)
It doubles as currency as well. Many languages have silver as the same word for money.
Guess what "Zloty" means? Too bad neither it nor USD of have any connection to the meaning. (USD/PLN)..
ITG,
Bro, Silver was money really before Gold.In ancient Egypt, it was prefered over Gold, they used it as money, and mixed some gold into their coinage.
Silver & Gold have been REAL money for a minimum of 3000yrs.
Nearly every major world empire at one time used both...........and most went to hell, because they over spent, and debased their silver/gold money.
*
Silver coins are like poker chips, but heavy (and shiny!)
Chart: SI
Long-term...yes; short-term...no.
http://www.screencast.com/t/ZTQ1NjZh
I can only be killed with a silver bullet.
You and the Clintons.
Jason Hommel is the most optimistic silver supporter I have read
He talks about the possibility of silver's price matching or even surpassing the price of gold - hard to imagine but who knows
The supply-demand situation for silver is far more favorable (if you like prices going up, anyway) than it is for gold
I'm holding my two silver coins until at least $80/oz (which is a given IMO) but won't be surprised by $600/oz silver - Jason talks about silver being priced in the thousands of dollars per ounce
Grab some popcorn - the show will be interesting
Bronzie, today would be a good day to buy 500 silver coins. They come in a nice little very heavy box. This may be the last dip for a while. Then melt the butter and pop the corn.
In the past I made larger orders (500+ coins/order) through www.tulving.com
They had excellent prices (low premium), locked in orders, and free over night shipping. Has anyone else had good experience with them?
+1 on Tulving. But I'm not saying what I bought, based on his relatively high minimum purchase requirements.
Hmmm... I actually traded some gold holdings a year ago for more silver, so get get me wrong when I ask...
Didn't Hommel de-hoard Ag in a massive way over a year ago ?
Just saying...
Hmmm... I actually traded some gold holdings a year ago for more silver, so don't get me wrong when I ask...
Didn't Hommel de-hoard Ag in a massive way over a year ago ?
Just saying...
I don't follow Jason very closely - I can't stand his religious bullshit
I'm not aware of Jason dis-hoarding silver
according to him, he started selling physical silver because of the lack of supply from other sources - iirc, he was buying 1000 oz bars and having them processed into smaller sizes at the mint
I wouldn't call that dis-hoarding
Fundamental #7 Massive JPM short position--Screw you Blythe!
And at the CFTC, Omalia, Sommers and Dunn fiddle while America burns
Correct. If you purchase 20,000 worth of gold at 1200 an oz and it reaches historical highs, how much money do you profit?
Roger: Well, its already reached that
Correct. If you purchase 20,000 worth of silver and it reaches historical heights, how much do you profit?
Roger: 30,000, but wouldnt that mean that the dollar is worthless?
Correct.
Historically, gold and silver have been used as a hedge against inflation. Even if the dollar is worthless, at least holders of precious metals can maintain while those who left their money in banks lose big time.
With the casino gulag still running, I am more willing to risk my money in precious metals than trust the criminals who are running the banks and stock market.
I was trying to spoof the youtube comedy skit. I am 60% silver, 20% gold and 20% dollars, so yeah, Im a PM bug. BTW, yipee, my first junking!!!! ;-))
Ok, couldn't help myself...ordered 200oz more from APMEX this morning. I'm worst than my wife and her shoes...
Spanked it!
;-)
Gold is the next gold.
Exactly. Some rare earth metal may have a better year than gold from time to time, but only gold is the monetary choice of central banks.
See new comments:
Peak Rare Earths is Upon Us.
http://www.zerohedge.com/article/peak-rare-earths-upon-us#comment-588203
Until there is no gold supply left. Then silver becomes the next gold. I think that Scientific American thing posted this past weekend had silver running out in 2029 and gold in 2030.
Alloyed with silver and copper. Electrum Bitches!!!
Can't lose when you quote Lisa Simpson.
I don't care how much paper they offer me.
I'm not selling.
so you're going to trade it for a boat?? or what? what is you plan? do you not need any money at all ? fat pension taking care of the interweb access and smokes?
Chis is still making a good living off B&Es. With all the cops getting laid off the competition from Mexico is getting fierce. Where's the damn Israeli style fence?
If they ever did put up that Zionist style fence, then you can use your gold to buy apples, grapes and broccoli at 20x normal price. Unless you want to pick it yourself.
there will come a time to trade out of the precious metals and into other asset classes
stocks when dividends reach the 6-8% level
long-term bonds when interest rates reach 15-20%
income producing real estate when the rent-to-price ratio overshoots its long-term mean to the downside
right now it is time to sit back and wait while all asset categories are re-priced relative to gold
remember that Jesse Livermore said it never was his thinking that made him the big money, it was his sitting (ie, take a big position and wait for the primary trend to fully express itself)
in case you aren't paying attention, the ONLY bull market right now is in the precious metals - Richard Russell calls it the "greatest, least loved, and least recognized primary bull market in history"
Thanks for that.
[JPM and HSBC are believed to be holding massive, galactic sized short positions -- to over 1 billion ounces of silver at this point.]
These guys are well and truly fucked. The cat is out of the bag, too many know silver is under valued, and well there being not much else to safely invest in silver offers the prospect of wealth preservation and returns.
And the knowledge that banks are desperate to keep the price down is an altert that this stuff must have a strong upside.
I'm sure they are fully back-stopped by Helicopter Ben.
Whatever that's worth.
Gold is for sure the next gold, but I just bought 6 kilos of silver at bullionvault, just in case!!
http://www.bullionvault.com/#sutski123
What would Sideshow Bob do? Buy Silver!
Fred,
I checked them out they are solid, but.Do not ask for Physical delivery, you will get fudgepacked Bawney Fwank style. TEN(10%?)..............of total holdings value?, my ass.
I noticed the link was to your click account... not too blatant.
Silver will rise for many reasons, but the rise of the price of gold is the main one. Bear in mind that the Gold/Silver ratio has varied over the years. Where it used to be about 12 to 1, more recently that ratio runs between about 60 to 70 to 1.
So at 2,000 gold, Silver will be lifted along with it, well north of where it is today.
The other key thing to know about silver is just how much the industrial use side is growing. New uses in healthcare/pharma and apparel (yes apparel: the anti odor anti microbial items utilize AG) to name just 2 mean that the already limited above group silver is being used up fast.
2 other things to know: The above ground supply is at an nearly alltime low, and some geologists think that Silver is the 1st element form the periodic table that could go extinct.
Never underestimate what Hi-Ho will do in the near future. Rich Dad Robert Kiyosaki has called it the investment of our lifetimes. Learning all that I have, I'm onboard with both feet since about $15 p/oz.
Buy American Silver Eagles from www.bulliondirect.com and buy best of breed miners to take advantage on both sides as the secular PM Bull continues this historical climb to who knows where.
Want EAGLES, get them for less at APMEX................
Personally I would prefer not to pay the premiums for Eagles/mapes.
Silver is silver,and rounds/bars from a known mint, is a/ok by me.
I agree with the exception that when wearing my Mad Max helmet I tend to believe that Eagles and pre '64's will be more likely to be trusted by the neighbor I want to buy feeder calves from. I buy both.
Just picked some up.. Put it on my CHASE CC and got the points..
Feels really good.. try it..
g r o s s, both using the name chase CC and your meat circle.
looks like JPM is trying to shake down silver holders now. 20.55 is the support. if you don't have any, you might want to jump in.
two interesting tidbits:
-"5 times more gold than silver exists above ground today"
-"in per capita terms, namely, how much there is if evenly divided among the earth's 6.5 billion inhabitants. For each man, woman and child, there exists 0.15 of an ounce."
http://www.midasletter.com/commentary/09012001_Real-Silver-Availability.php
"For each man, woman and child, there exists 0.15 of an ounce."
and I've got two ounces so that means at least 12 people won't get ANY!!!
got silver?
Snooze ya lose. Says so in the scriptures.
bronzie,
2ozs?,best get your ass in gear.
When Gold goes thru the roof, silver will be non existent.
J6P, will snarf up what's left, and what will be avail in either, will be so high Premium wise, you will likely be left in the cold.
three is obviously the holy number - I have one gold coin and two silver ones
Monty Python - The Holy Hand Grenade
http://www.youtube.com/watch?v=xOrgLj9lOwk
Cleric: And the Lord spake, saying, "First shalt thou take out the Holy Pin. Then shalt thou count to three, no more, no less. Three shall be the number thou shalt count, and the number of the counting shall be three. Four shalt thou not count, neither count thou two, excepting that thou then proceed to three. Five is right out. Once the number three, being the third number, be reached, then lobbest thou thy Holy Hand Grenade of Antioch towards thy foe, who, being naughty in my sight, shall snuff it.
The question is, if there is 5 times more gold than silver above ground wouldn't silver have to be 5 times as expensive as gold?
Sure, for the 5 months or so that it would take for current production levels to catch up the above ground supply to that of gold. This is not to mention new production that would come online at such prices.
Something like that might happen, but it would be the result of an industrial user panic, and would signal a blow off top.
I plan to sell silver for gold in increments. When I can get an oz of gold for ten oz of silver, then again at 2 oz silver for one oz gold, then again at parity, then again at 2 oz of gold for one oz silver, then blow the last of my load at 5 oz gold for 1 oz silver. If we don't see such levels, I will keep my silver. It's worth holding in an of itself.
Amazing how Au and Ag have been hammered this morning. I was happily drinking a cup of coffee at 7:30 this morning and seeing Gold at $1,281 and Silver at $20.91. then, magically, around 8am both started sliding downhill. This happens like clockwork. I've always suspected that some of the larger multi-nationals might be making a killing buying and selling gold to themselves every night/morning. Seems as if it goes up overnight and is hammered down every morning. Doesn't really matter that much to me, I'm not trading, just accumulating and holding regardless. But, frustrating to watch nonetheless.
that would be when the new york market opens... no coincidence there
yeah, funny how it happens at just that time ....like clockwork, isn't it?
this wouldn't be so infuriating if the CTFC weren't literally and very obviously averting its eyes and essentially colluding in the fraud...
even more rage inducing is the fact that you know Ben will bail out JPM with taxpayer dollars when this all blows to high heaven.
socialize the losses, the peasantry will never know.
sometimes the smackdown happens 30 or 45 minutes into the session - all that means is that the NY boys are stuck in some Starbucks line getting their non-fat-soy-lattes
You are 100% correct. But the price is ratcheting up inexorably. What was a base of 20.50 is now 20.70.
Sure there will be some takedowns along the way, but the ratchet is one-way over the long term.
8 am, they must be desperate to get up that early.
And there is the CTFC well aware of criminal manipulation, cheering them on as they masturbate to pictures of BenB in drag.
Question is. Which of this group of crims put the contract out on Maguire? And what of the person who tried to kill him? No word?
again, this was an "event" that never happened. sootland yard picked up the driver....but no name was ever released, no charges filed.....
yeah. think about that one. they probably buried under the national security blanket, right?
"Question is. Which of this group of crims put the contract out on Maguire? And what of the person who tried to kill him? No word?"
I know! I have never seen a news story drop dead as fast as that one. What I saw were two small blurbs in the propoganda media. I have had to fish for details from the alternative news. Very disturbing.
Henry Waxman is about to start an investigation into how you found out about those pictres of BenB. Quoting the congressman, "Masturbation is sacred."
Good stuff as usual from Abigail.
~MV
Look at the chart here:
http://webabuser.blogspot.com/2010/09/physical-silver-imports-skyrocket-in.html
It shows a perfect correlation of silver price with China net silver imports.
China IS MAKING SILVER PRICE importing big time physical bullion!
And... since October 2009, China stopped exporting physical silver!!!
Good bye JPM!
P.S. while you are at it: Web Bot prediction: Silver Will Go to Parity With gold
silver at 1:1 with gold will be another point at which it might make sense to trade from silver into other asset categories - or at least trade some silver for gold (if there is any physical gold available at that point!)
the web bots are fascinating - if you aren't already, add George Ure to your daily reading list: urbansurvival.com
The first rule of Web Bot predictions is, don't talk about Web Bot predictions. It creates a feedback loop, making the thing less accurate, and at a minimum causes clif high to have to exclude websites with Web Bot data that would otherwise provide useful info (like this one).
Just wait until the HFT programmers start listening to the bots. Then you'll see some feedback.
holy fuck
I never considered that, it could rend the very fabric of spacetime
silver physical longs are weak hands. Unlike Gold longs who
get the help of Indian brides and other Asian societies, CB(nowadays)
Silver only has the support of Industries. Hence it can be driven down
Of course CB's don't have silver, but their proxies - hedged miners do.
Keep in mind when considering Silver that it was demonetized long ago, for real reasons. There is also the gold/silver ratio, and when Silver is performing against gold, that's a sure signal that a boom in in progress.
Since we're in a long-term bear deflationary market with inflationary booms/busts as we go along, Silver will always benefit. But its not gold from the simple fact that its lease rate is substantially different. I think this will be borne out as time progresses, that Silver will follow somewhat in Gold's wake. If it were an inflationary boom in a bull market with high interest rates, then very likely Silver will outperform.
Somebody always looks to the silver when the inflationary aspect is most pressing. The boom that's in progress is probably the corporate high yield bond boom since the 2008 bust.
http://stockcharts.com/h-sc/ui?s=HYG&p=W&b=5&g=0&id=p30337602177&a=19644...
Remember that Dorothy lost her silver shoes in the original printed text of The Wizard Of Oz.
Dorothy lost her silver slippers and the scarecrow was "Crucified on a Cross of Gold," but the Cowardly Lion did nothing but roar about it.
The expansion of silver production in the American west stressed the bi-mettallic standard set by government regulation. But would the free market have demonetized silver or just refactored its value against gold?
silver is primarily produced as a by-product of mining the industrial metals
in a deflation / depression / declining economy / peak western living standards type environment, the demand for the base metals will decline and therefore the supply of silver will be reduced
less supply, more investment demand as people try to protect themselves
buying silver is win-win in any environment I can think of
Until/unless silver production peaks, it won't be the next gold. Silver production may be on a peak plateau but only time will tell. If it goes into supply decline, its price metrics should match what gold did after the same event.
I concur with the earlier poster on Platinum. Pt production is 5% of annual gold production. Far rarer, even denser, and with industrial uses. Wondering why morons like Jewbini and Douchinger don't call for stockpiling it instead of gold.
Silver production might peak for a while if/when Mexico blows up. Also check out www.runtogold.com He gives detailed comparisons of PM spreads. Latest post=Buy Whites/sell Yellow An enterprising Exchange might find that a futures contract priced in the G/S ratio would get some biz....wait, I should patent that one...shhh...
Finally an article about SILVER!
So a couple of months ago the SEC was investigatin JP Morgan for silver manipulation. I read somewhere that the short position has actually increased something like 30% this last month. Where can one see if the short position has increased or decreased for the the current month? And any views on JPMorgan - have they temporarily stopped?
http://www.gotgoldreport.com/ (scroll down to Gene Arsenburg's update)
and
http://harveyorgan.blogspot.com/search?updated-max=2010-09-13T16%3A28%3A00-07%3A00&max-results=7
They are trying very hard to shake the tree, but no one is blinking. You'd think silver would correct, as it has so many times in the past, but it seems to be defying gravity lately. I keep waiting for a correction to make a purchase, but the paper sellers are not very motivated lately.
Spartan, in light of ongoing developments, I suggest you're far better off to dollar cost average starting today rather than wait for a "correction" that may never materialize.
Silver has miles to go, so what if you "save" a few bucks now? Of course it depends on your expectations and horizon, but for most people who want to get in on PM it's just better to get onboard and buy what you can afford month in and month out.
Request: could some excellent computer adept give us a link to Jerry and the Boys doing The Loser? "You know I'm only in it for the gold." Feel like celebrating this push through the cartel's stacked deck.
"Come to daddy on an inside straight...":
http://www.youtube.com/watch?v=SvZJZkJi1g8
Ask and ye shall receive.
what was the last silver high 21 point... ?
Silver? silver... you don't need no stinkin silver
http://i11.tinypic.com/2s92cl3.gif
There will be another dip this fall/winter, probably November into December.
will that dip be before or after silver hits the $28 level?
Yes............it will dip, and the dip will be from 25 to 22.
I hope not :/
I'm thinking the next low will be in the $20/oz range...
But demand is strong, and it's decoupled from the market..
If I'm lucky/hoping it'll hit $18/oz, it did show some resistance int the $18/oz range for a few months. So it may happen... silver can be volatile.
I calculate that risk and raise you 100 Silver Eagles
ITG- Re:Au & Ag as money.... so you're sayin' skinheads aren't allowed in Mohawk Town?
Anarchy burger....hold the government please.... Friggin love those guys!
CB
I live a stones throw from the Royal Canadian Mint so I decided to go and check out their boutique today and maybe pick up some silver bullion.
Well...they didn't have any. They said they are waiting...(they seemed more confused than anything) then they gave me a business card so I could call back.
They did have $39.00, 1 ounce silver maples in "mint" condition though hahaha.
I know it's not their main business but to not have any silver bullion in the official shop of the official Canadian mint is a little fishy.
The Royal Canadian Mint is such a joke. Did you ever see that Rick Mercer episode when he visited. Their vault has one steel shelving unit with a tiny stack of good delivery bars. Did you know that Canada's gold reserve comes in at 78th amoungst nations, at a whopping 3.4 tons!
http://en.wikipedia.org/wiki/Gold_reserve
I found lots of interesting information here. I love zerohedge.
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