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Will Silver Surge Following The Nationalization Of Bolivia's Silver Mines By Embattled President Evo Morales?
Two weeks ago the precious metals space was closely following the fate of Sumitomo's San Cristobal mine, where a long strike had paralyzed work at the world's third largest producer of silver and sixth-largest producer of zinc. While the strike was eventually resolved with concession to the domestic workers, a far more troubling report from Bolivian daily La-Razon states that Bolivia's president Evo Morales is now planning on expropriating zinc, silver and tin mines sold off by previous governments. Bloomberg reports that "Morales will announce a decree May 1 to “dismantle the privatization model,” said Nicolas Fernandez, a spokesman for state mining company Corp. Minera de Bolivia, known as Comibol. "The government is recovering all the privatized companies,” Fernandez said today in a telephone interview from La Paz. “When the decision is taken, Comibol will be ready to manage these mines.”" Among the contracts to be affected are those with Glencore International AG, Pan American Silver Corp., and most importantly, Coeur d’Alene Mines Corp., which is operator of the San Bartolome mine: the world's largest pure silver mine. Notably San Bartolome and Sumitomo's San Cristobal "account for about 83% of the nearly 1.1M tons of fine silver Bolivia produced in 2009, according to Mining Ministry data" according to The Gold Report. If indeed this news is proven true, and we will know for sure in 16 days, looks for the price of silver to spike considering about 1.33 million kilograms of silver was produced in Bolivia 2009, according to the U.S. Geological Survey: an amount which will likely fall off a cliff following the utter chaos that is unexpected nationalization.
Bloomberg's report on this important development confirms that the potentially affected producers seem to be in a state of denial about this absurdly irrational development:
“Our property title is not subject to expropriation by the government,” Coeur spokesman Tony Ebersole said in e-mailed comments to questions.
Glencore spokesman Simon Buerk declined to comment and Pan American spokeswoman Kettina Cordero didn’t return telephone calls and e-mails seeking comment.
Bolivia produced 430,879 metric tons of zinc, 84,537 tons of lead, 19,581 tons of tin and 1.33 million kilograms of silver in 2009, according to the U.S. Geological Survey.
Nationalizing private industries is nothing new for the embattled Morales:
The government of then President Hugo Banzer sold off mining assets such as the Vinto tin smelter in 1999 in a drive to shed money-losing state companies and attract private investment. Morales seized the smelter from Glencore in 2007.
Morales took over gas fields and refineries on May 1, 2006 in a bid to increase state control over Bolivia’s natural resources. Private investment in the industry plunged 69 percent to $271 million in 2009 from $865 million a decade earlier, according to state energy company YPF Bolivianos.
With the political situation in Bolivia deteriorating (read the following update from La Razon on the strikes and blockade gripping La Paz) it is increasingly probably that the country's president will take irrational steps in order to safeguard his image, and supposedly to fill his coffers.
Full report from La-Razon here.
h/t Matt
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Well done, by the way.
Just look at his diet. Garbage in garbage out
Here's a little exercise for Robo:
Put up a chart of the S&P 500; then:
Chart SLV on top of it; then:
Look at it over 1-Day, 5-day, 1-Month, 3-Month, 6-Month, 1-Year and 5-Year time frames.
See a trend?
http://www.capitalresearchinstitute.org
Why are those steps irrational?
Shouldn't the resources of a country belong to its people? Was it irrational for Iceland to tell outsiders who wanted to steal their resources to take a hike? If our government lets outsiders buy up our infrastructure, oil, and mines, shouldn't we at some point in the future be able to take them back? Are we just screwed forever because of the mistakes of one administration?
What resources? Hákarl, recessive gened people or geothermal energy?
I was with ya, till the 'mistakes of an administration' part. They administer nothing, just dance when their strings are pulled by bankers.
And Bolivia is screwing the bankers. We should have their back. Readers of this site more than anyone should realize that if you don't hold it, you don't own it. Sucks to be a holder of that paper though. But then again you knew it was just paper. This is good for physical holders and I hope more nations follow suit. I hope Paraguay takes the water rights to the land that the Bush's just bought or even just outright takes back the land. Fuck the nwo bastardz.
That would be great, shut off the Bushs Paraguay land water, or just go seize the land now what would the Nazi Bushs do?
They'd probably be making a case for wmd's or Al Ciada in Paraguay. We have to confront this nucular threat. (sic)
The NWO, oops, I mean the free world depends on it.
Isn't there a US army base nearby in Paraguay?
Hah - Bolivia! Gimme a break, hahahahahahaha.... Where there is a dictatorship (of any kind), there is corruption. http://repository.unm.edu/bitstream/handle/1928/10742/BOLIVIA%20CORRUPTI... Evo's approval ratings suck, people are rioting and inflation is getting out of control. The government is a frikkin' joke just like Hugo's.
was it irrational when the germans bombed pearl harbor?
Exactly.
C'mon SilverBaron, haven't you been paying attention? Governments are supposed to exist in order to saddle their populations with copious amounts of debt. Sell off any assets that might be valuable to TPTB, and make sure their populations get egregiously taxed for generations in order to pay off their debt and the rising costs of services that were once government controlled but now privatized. Get with the program!
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Got a stop put in for my CDE shares.
God damn these fucking South American assholes, if this is the beginning of a trend I'm going to have to do some serious shuffling of my portfolio.
Don't worry - your North American/Australian/Mexican and canadian assholes will follow and destroy you and your mining papers. you are the asshole - they have every right to keep their money inside underground instead of giving it away at a previous low contracted price.
Why is it that these egotistical oafs never learn the lesson that nationalization = national disaster? Their hubris never knows any limits!
Socialism has spread like wildfire over South America in the past decade, but they never learn their lessons. Come to think of it, neither do we! We doom ourselves and our progeny to the ugly education in the school of hard knocks!
>but they never learn their lessons
Who is "they"? Oh, you must mean the voters.
The government parasites, i.e. the thieving "protectors of property rights", are doing just fine.
Anything of wealth in marxist countries will be nationalized. The higher silver goes, the more we will see of this.
Australia tried to tax the miners at 40%. The mining interests immediately got the PM sacked. Problem solved.
This is the basic probem I see with mining stocks and equity plays. The world is broke and anything that emerges seen to have value will be taken over passively or actively. Not to mention captial gains taxes on trades already inplace.
Buy physical and sleep well.
If only it were true .... new prime minister is still 'working' on the mining super profits tax in the background while she is currently forcing through a carbon tax ... and today we read that our leftist labour government is going full on 'trade liberalisation' aka free trade - which directly contradicts their party's core platform?
nationalization bitchez!
lucky the usa dont runb on a gold standard , they can just print up wages for the troops.
and will need lots more paper to pay for bombing the fuck out thse commie bastards,
...and from El Dorado, 'el loco' Hugo.
In February this year, Canadian GOLD miner Crystallex International Corp (KRY.TO: Quote)(KRY.A: Quote) filed a demand for $3.8 billion, saying the Chavez government had unilaterally ended its contract for the huge Las Cristinas project. ...
http://af.reuters.com/article/metalsNews/idAFN1426111020110414
Cumon, buy the rumor, you lemmings.
Don't look now...
Silver is flirting with $42 and gold/silver ratio getting close to going under 35.
(you peeked, didn't you?)
Good luck JPM delivering those shorts now. Morons. Silver to $50 over the coming weeks.
GovtSux must be lead underwriter to CDE, or have a finger in the pie. Also down plenty.
Send in the U.N.
sarc on/off, I forget which.
only a cunt hair away from apr 11 high now. too hot to hold. all i can do is watch.
Wow total panic selling on PAAS.
F12-punching, bit-flipping, overleveraged monkeys are screaming bloody murder.
wow, robotard total panic to avoid looking at his portfolio. must post more to avoid reality of being a failed trader. must check price of lentils. green sprouts too expensive as portfolio collapses.
Why would anybody be panicking selling Easter Egg dye?
Sellout budget passed House.
Yoku, which probably doesn't even have any financial statements, is on a tear.
Obviously because they do not own any silver mines.
LOL...
more annoying than cramer
it's actually hella funny seeing people getting whipped up into a frenzy over his posts...
physical silver, which doesn't have a counter claim on a tear. no need for balance sheet. it's money.
Good for you Robo! You finally found some obscure chart thats up, too bad you dont own it huh?
We just want what comes from our own land. It was sold by pluto to donald at monopoly money prices, even to gringos. We think that's goofy. So we're going to take the mickey out on the scrooge that raped the daisy. Even minnie the moocher would understand the simple logic.
You're not going to get it without private property rights.
Enjoy your return to the third world.
And you want your companies to steal other people's money by corrupting some former officers. Today, I had my year's worth of Junks in this thread alone.
Their wealth will stay underground and your American/canadian/Australian miners will be taxed as well - just wait and see. What will you say then ?
No, I want property rights respected for EVERYONE. If you are mad because miners are taking all the money, think about how they got access to the mineral rights. Did they buy them? From the landowners? Or from the government?
Kill your government, and you will strike the root of the problem.
Look at the richest, most powerful nations in the world. Think about what they did to get that way. Emulate that.
Free market capitalism is how they rose to power. Fascism and socialism is what will cause them to fall. End of story.
Yeah, right.
Mismanagement followed by decay and poverty.
Look how great Venezuela is doing.
The only safe bet I see in the silver trade is that it is going to be pretty volatile. I definitely see the appeal of holding physical, but I just don't have a desire to jump into such a fast moving market, especially when I would be competing against people with a lot more resources and technology.
Privatize everything! It worked so well for Bolivia when Bechtel bought their water systems.
http://www.youtube.com/watch?v=xw5Fon_EjGw
But they WEREN'T privatized! If the water service had been private, they couldn't have prevented people from gathering rainwater. Only the state has the power to do that. If the state intervenes on behalf of the corporation to take something that by natural law is not theirs, then that is FASCISM.
Why must people slander capitalism with the sins of the Fascists?
Privatizing the profits and socializing the enforcement costs to the state. If only the state would have privatized its police and military apparatus to shoot and target protesting citizens, that would have been more Capitalist?
You miss the point. Capitalism, BY DEFINITION, does not allow state involvement in private affairs. Private entities can't just go around shooting each other in any kind of systematic way and expect to exist for very long. Only the government can do that.
You don't seem to understand that literally every single thing you hate about capitalism is not a feature of capitalism. You hate FASCISM. You need to learn to call a spade a spade rather than grouping diametrically opposed ideologies together just because both allow for private profit.
Dude you're all over the place and sounding more and more like a sock puppet. Argue and bait someone else with your 'isms'.
You are the one slandering capitalism, not me. Your inability to use correct definitions warps your perception of the world such that you can't tell which way is up. Almost everyone in the whole world suffers the same way, and because of that, the ones who get into power wind up drowning whole nations.
Your level of ignorance is truly astonishing.
You left one huge factor out, the IMF.
Bolivia Regrets the IMF Experiment
But to Bolivians, the experiment was marked by failure. Privatized companies like the railroads went bust, while the energy industry is generating $100 million less in taxes and royalties than it did when it was state-run, budget officials said. With the standard of living showing little signs of improvement, Bolivians became increasingly angered over tax increases and cuts to social programs.
"They did everything right," said Joseph Stiglitz, an economist at Columbia University who has been critical of the IMF formula. "They liberalized, they privatized and they felt the pain. Now it's 20 years and they're saying, 'When is the gain?"'
NYT
All that was on the surface. If the railroads couldn't survive, then they weren't needed. The capital needed be allocated elsewhere.
Notice the people are mad about tax increases and *bellylaugh* cuts to entitlement programs. They can't see that all that was happening was the government was taking a big wad of cash out of one of their pockets, taking half (or more), and giving the rest back in such a way that created dependence. Very Machiavellian. They should have just defaulted on their debt and smashed the state. Institute a tiny government with minimal services and very minimal taxes. Protect property rights, and watch their capital base grow like a wildfire.
Also, the IMF is a fascist organization. Anyone with a firm grasp of free market philosophy could see what needed to be done.
They can't see that all that was happening was the government was taking a big wad of cash out of one of their pockets, taking half (or more), and giving the rest back in such a way that created dependence.
The government was taking away entitlements, raising taxes, while not recieving taxes and royalties from companies they privatized. I guess the citizens ran out of pockets. If they defaulted on their debt they would have a hard time attracting foreign investment, so that would translate to slow growth. With privatization in third world countries what usually happens is the National companies are sold cheap, corporations that buy them don't reinvest the profits back into the country, and they exploit the cheap labor.
Anyone with a firm grasp of free market philosophy could see what needed to be done.
Can you give me an example of this free market philosophy (country) because it sounds great and probably would be a big hit in academia, but in the real world there are a lot of factors to overcome.
No, government defaulting on debt makes it harder for them to take on future debt, which they shouldn't do anyway. ALL governments should default on ALL debts in a continuous and blatent manner until no-one is left that is dumb enough to give them money. People will invest in those countries so long as they respect property rights. That trust takes time to build.
As for examples of free markets, have a look at any country that went through this, while they were going through it, pre-WWII when international "aide" obfuscated things to an enormous extent: http://en.wikipedia.org/wiki/Industrial_Revolution
So countries that have defaulted on their debt didn't have a hard time attracting foreign investment? Of course they did. Its part of that trust that takes a long time to build that you were talking about.
People will invest in those countries so long as they respect property rights.
I am talking about big investments not individuals. Look at those companies that have drilled for oil then got booted out by the country's leader or government (Iran and BP), only to return to do joint ventures and investments (Iran and BP). I would consider them not having strong property rights.
Industrial Revolution coincided with colonialism, yes they came up with great inventions but the much of the wealth came from exploiting their own people and those third world countries not from strong property rights or free market capitalism. In the case of the U.S. we were a resource rich country that was developing but was it free market capitalism. I don't think so when you have monopolies and blatant manipulation of the stock market by a few elites. I am all for free market capitalism, but it seems very idealistic considering mankinds natural tendancy towards corruption, greed, and power. Taking this into consideration it would be very difficult to sustain.
OPERATION CONDOR - saving Bolivia from the Bolivians
Wait... so why are Depleted Uranium filled Tomahawks being rained on Libya?
Saving Libya from the Libyans, of course!
Depleted uranium? Pfft. The Libyans should be thankful we are raining depleted (from COMEX warehouses) silver down on their heads.
We should ALL be so lucky!~
Can you say silver dehedging coming? All those hedges and no mines.
Nice observation.
+42.26, interesting insight
I've been forced between choosing my job (locked into my pension plan which I put in silver miners (NYSE: SIL)) and quitting, take the tax penalty and go all in physical. This is the first of probably more penalties for choosing the former as more and more silver producing countries become kleptocratic nationalizers.
Read my posting above. It is not kleptocracy but actually democracy.
Hey, at least socialist countries fuck everyone equally, eh?
Dipshits.
If that were only true. They have the ruling elite...and everyone else.
Will this move by Bolivia put the dampners on the, recently announced, Glencore floatation ?
Nope, it's a rounding error on their balance sheets.
So do we buy the PAAS dip or what? We got 25 min....
So I know alot of people are down on SLV. I haven't done much research on them but given this news I am wondering if a May 41/42 Call is in order? Fundamnetals be damned, sentiment could drive this one for a bit if the mines get nationalized.
Is SLV really unable to fulfill contracts? Or is it hype?
edit: 41.933 got piereced!
$42, bitches.
its another one of those wascally nationalist trying to gain control of their country from a rich imbedded jewish minority...........same old, same old..........
Exactly but not just dirty joos but every other neoliberal mafioso colluding with them. See Atlas Shrugged coming to a theater near you? Straight up eugenics propaganda.
no sorry. its a small very wealthy bunch of european jews who own most of the good land and have most of the money and are trying to call all the shots, like they have done for a very long time. this guy got elected to office by chance and he wants to do the right thing but he does not have any real power to do much since his "army" is very poorly armed and poorly trained etc. but the indians love him and are struggling to help him succeed with land reform and these wealthy jewish landowners , are fighting against this change by any means necessary as they do in most of south america.
Exactly HPD. Nto a popular point of view, but spot on.
ORI
They're NOT taking over CDE's mine.
Government statement today that targets are PAAS and Glencore.
Only PAAS and Glencore ?
Any comments, announcements, from Glasenberg ?
Fuck you Tyler Durden clone!
All Latin America should nationalize and develop OUR natural resources not redneck bankster corporations and foreigners. This idiot is so hypocritical railing against banksterism when it's in his interest and cheering them when not. Fuck youuu! You gots lots of poverty and hardship ahead Amerikkka!
Game over, bitchez!
Check Zimbabwe for a good case study on how well nationalization works. Or hell, look at Venezuela. Fucking train wreck.
Yeah by your definition, All poor countries should welcomes these kleptocracy loving foreigners and should be happy getting pennies for dollar on thise mining rights.. OK, they should gladly welcome that idea... what a set of moron's the ZH crowd has become. Their wealth will stay under their ground. BTW venezuela is rich in both Oil and Gold, hence they will be the biggest target - wait and watch.
No, all poor countries should respect property rights. They don't, so they remain poor. QED.
You are fighting me because you can't stand the cognitive dissonance. You have so conflated capitalism with fascism that any positive behavior that is called capitalism must be met with harsh words.
Venezuela is rich in NOTHING so long as it fails to respect property rights.
I wonder if you will ever be able to understand that simple concept, or if you will just continue to attack fascism while talking to me as though I were defending that hated ideology.
The picture I am paiting is the reality in the ground. How the world works even in our First world countries, but mostly in third world countries. People don't have real power in reality.
What you paint is an utopian capitalism that "should" be established in your mind. That is not the reality. Everywhere human endeavour is to grap for onself and establish monopoly. I am not against capitalism and I am against socialism, but what is practiced is corporatism/oligarchy throughout the world. All these "ism's" are just foolish and not a reality. Also please note that in pure capitalism - capital tends to concentrate due to human behaviour, into few hands in a time line. No system is perfect, but it is better than to be robbed. I like fatalism better.
Capitalism is here to stay. It's been around since before civilization. Whether with bartering, precious metals, or fiat currency, people will always trade goods and services. The problem is that gangsters have taken over the financial system and they have bought the government. Not one person has been charged criminally for the collapse of the financial system. When the people have had enough the gangsters, they will deal with them in an uncivil manner
You wanna talk train wrecks how bout the 40 years in the making slo-mo wreck Amerikkka is? I'd rather have incompetent but DEMOCRATIC gov than lying ass fascists and their police state, biatch!
Yes, they need a good dose of Austrian economics and a level playing field for anarcho-capitalism to flourish but believe me, Chavez and his sincere good intentions is a damn sight better than evil, drug trafficker and genocidal Bush Illuminati who rule you!
Uhh, yeah, I said that. It's called fascism, and that is what we have had in America for 98 years.
Chavez may or may not have "good intentions", but that is exactly what paves the road to hell, and that is exactly what we have seen. Venezuela is poorer than ever, and they are just about out of people to rob. All they can do now is strip mine their resources in the hopes of becoming rich, but without property rights, they will never develop a capital base. Once the resources run out, they will plunge into oblivion.
Without RULE OF LAW and all that it entails, ANARCHY will reign. As governments tend to employ the largest body of thugs they are able to thrive under ANARCHY, and oppress the citizenry. The most glaring current example of the absence of the RULE OF LAW in developed economies today is the utter lack of prosecution and imprisonment of bankers for their frauds, thefts, and lies. Expropriation in Bolivia is an example of the same phenomenon in a less developed economy. It is HYPOCRITICAL of observers to rally against expropriation of wealth by the banker class while supporting expropriation of wealth by the political class.
Bystanders often DELUDE themselves as to the insidiousness of expropriation when there is a conscious or unconscious expectation that may be the BENEFICIARY of the largess of the thief, which they rarely are, unless they actively collude in the theft. There is often popular support for raising the taxes of one's neighbor or boss if there is an expectation that the revenues raised will support a subsidy that one receives. The political class very often markets its expropriations through the demonization of the victim, and wraps it in the rhetoric of nationalism or populism. In Bolivia, the thieves claim that the theft will benefit the economy and the citizenry. Several years ago, the same thief, at the same crime zone, chanting the same rhetoric, committed another theft. The economy and the citizenry are not better off as a result of the previous theft, just as they will not be as a result of the current theft. Rinse, Repeat. Even the Bolivian unions are expressing hesitancy at the latest political maneuvering, even though they are aligned ideologically with the political powers and are often at cross purposes economically with the intended victim of the politicians’ theft.
There also tends to be a NAIVETY amongst the cheerleaders of expropriation that the wrath and greed of the Black Mercedes Brigades will not trickle-down to them. Whilst the pundits may document the epic battles, they do not concern themselves with the everyday encounters when a member of the Brigade sees a small business owner as a competitor to his interests, or covets the property of neighbor who is not a member of the Brigade. In the United States, the UAW colludes with the political arm of the Black Mercedes Brigade, which conveniently camouflages itself if UAW cars, against the banker arm of the Brigade. By circumventing RULE OF LAW and existing bankruptcy processes, the UAW was the beneficiary of tens of billions of dollars in expropriated wealth from other creditors, which ironically included both individual shareholders and creditors who were members of the UAW as well as the other unions and pension funds who were among the institutional shareholders and creditors. It will be interesting to see if the UAW continues to support the Black Mercedes Brigades when the debt beast the Brigade has created needs to be fed again and the 401(k) and IRA plans of their members are perceived as the most readily available food source.
RULE OF LAW is the best protection that both the individual and institution have against the expropriator’s greed. Retreat and evasion are only effective strategies as long as the holder of wealth is able to avoid the Medusa’s greedy gaze. Physical precious metals may protect one from a collapse of the financial system, but they cannot protect one against expropriation by a coveting neighbor, much less the superior numbers and firepower of a coveting State. Strength in numbers may serve as a temporary deterrent against greed, and delay expropriation by the Coveter until an implementable strategy and be developed and implemented. The weak can often be tempted into striking a deal with the Devil and joining the side of ANARCHY as a means of self preservation, but this solution entails sacrificing and subjugating one’s soul and one’s ideology to the Devil’s greed. So in the end, the choice is ultimately reduced to RULE OF LAW or ANARCHY.
Check the USA for a good case study on how good capitalism works. (It's not the systems as much as its the crooks and idiots that run them)
I'm sure even in Zimbabwe there were some people who were doing great.
We don't have capitalism here. That is the point. We have had fascism for ages, and it has finally hollowed out the great capital base we built up over the last two hundred years. Now the facade is about to cave in.
Fools who can't tell up from down will then proceed to say "See, capitalism has failed, we must institute socialism and fascism!" They will drown any who follow them, and murder many who don't.
I will concede to that, but I still think it's the people who run the systems more than the systems.
Systems breed evil, even out of people who were initially good. Se the Stanford Prison Experiment for how to turn all American college students into sadistic guards or cowering prisoners, and how an "objective" professor can turn into an evil prison warden.
http://en.wikipedia.org/wiki/Stanford_Prison_Experiment
With governments, this happens on a massive scale. This is why governments must be kept small, and why they must have as few tools to oppress their own people as possible.
"With governments, this happens on a massive scale. This is why governments must be kept small, and why they must have as few tools to oppress their own people as possible."
Perhaps it is a matter of scale and not some "ism". The USA might be better off with more power devolved to the states.
"The USA might be better off with more power devolved to the states."
As was intended.
All this panic happened just the same with Brazilian stocks just before Lula got elected...I remember folks in Brazil dumping all stocks and buying real estate afraid of the Brazil becoming a socialist country...guess what happened? Don't know? Ask anyone who kept their stock holdings since then...
I'm not saying the same will happen in Peru, but it's stupid to generalize that any or so left wing latin american to be president is going to nationalize mining assets.It's funny that people go all angry about latin american dictators taking their paper profits away, but are okay with "banksters" ripping them off all the time...
I've yet to find anyone on this site that is okay with "banksters" ripping them off. I not ok with either.
Naive pie in the sky socialist cheer on exappropriation but it always end up bad because power is transferred from one elite group to another elite group...that is all it amounts to.
Evil(clowns) to the left of me evil(jokers) to the right of me......here I am stuck in the middle with you
Unfortunately you don't understand the situation. First off Evo didn't just get elected, he has been president since 2005. Secondly he is following in Chavez footsteps of nationalization not Lulu's steps of being more pragmatic.
Brazil's economy is much more complex and Lulu is not a nutjob.
So if you are going to compare Evo to somebody compare him to Comrade Chavez
pull my finger....
41.97 $
$42 pop
Okay, where is the "How to buy silver guide...". For example, what are good reputable dealers for buying silver. I'm looking for a new dealer.
$42.10
If you're in Southern Cali, here's a good one:
http://www.golddealer.com/
If you want to go mail order, you'll have trouble beating APMEX:
http://www.apmex.com/
Good Luck Fluffy...
I don't know about that Shark... Apmex silver eagle price as of 7:50pm EST is $47.62
Gainsville Coins price is $46.54 Plus Apmex banks with JPM Chase..not sure about Gainsville
buy...
from any one
stupid enough
to be selling ....
http://www.goldprice.org/ compare dealer prices
hmm, a glimpse of our future.. when the planet's monetary system takes the 'great leap', no one will want to be in mining stocks (hell, any paper for that matter).
Sweet. Got my stash of physical, plus some outa tha money 48 strike Jan 12 exp. Calls on SLV from a couple days ago that are doin great! Who woulda thought? Hopefull SLV doesn't crash till after 50 dollar silver.
Silver and zerohedge, great finds for myself indeed :)
Reputable Dealer? I've had good luck with this silver site and related links:
adviceoninvestments.com/youvefoundsilver.php
Yes sure baseball....their Canadian Silver Maple Leaf link takes you to APMEX website one of the higher premium sites and it conducts it's transaction through JPM CHASE!
IN LIGHT OF THIS POSSIBILITY HOW WILL GOLDMAN'S GREAT FUCKERY PLAY TO DOWNGRADE SILVER EFFECT FINAL SPIKE? ABOUT TO GET BACK INTO SLV AFTER HANDSOME GAINS....
The move to silver miners in safe zone is on.... Alexco Resources AXU up 11.5% today
Norcini see's silver miners obscenely undervalued.
http://goldandsilverlinings.com/?p=682
The company to look at is called Orvana
Just saying.
Don't they have a mine in Bolivia? Care to elaborate?
Yes they do. It is a part of the business but not the whole one. Immense deposits elsewhere but I'd rather keep quiet about it since I would like to pick up shares cheap. Capiche?
But ZH has been good to me so time to give a bit back.
http://www.orvana.com/investors/presentations.html
Postings of prices per fiat notations? Proper valuations are how many ozt of .999ag per barrel of light sweet or how many barrels of oil can 1ozt of .999ag trade for; expand that to bushels of corn, soybean or varmint putang. In conclusion the ideology of the fractional reserve system and it's fiats are going the way of kingships cutting their coin= barely on life support.
Am I doing my math correctly?
This just does not seem right.
Someone help me out here.
Option A.
-- 1 oz American Silver Eagle - Random Year: 47.03/troy oz (Check/Wire)
Option B.
-- 1 oz American Silver Eagle - Random Year: 48.44/troy oz (Credit Card)
Option C.
-- 2011 United States Mint America the Beautiful Quarters Silver Proof Set (SV5): 41.95 (90% silver - 46.393/troy oz) - Shipping is 4.95 per order (Qty 1-99)
I would never thought I would be talking about silver at $46/troy oz today.
Anyway, thought I would try to help out with shopping for the best price.
Fluffy,
If the US Mint is still selling the America the Beautiful Quarters for $41.95/set, you may want to jump on that before they pull them again and increase the price.
Rocky Raccoon pointed them out to me about a month ago, and I bought a pile of them when they were still selling for $32.95 each, but they're still a pretty good buy at $41.95.
The current melt value of a set of five is $38.14 (see Coinflation.com:)
http://www.coinflation.com/
If you buy a bunch of sets, you'll amortize the shipping over the entire order and reduce your initial investment costs.
Frankly, getting proof US mint silver coinage for only about $4/oz. over spot is a heck of a deal.
Got some quarters in the mail now. Thanks Raccoon.
I was also fortunate to have bought some of the America the Beautiful Quarters for 32.95 just before the price went up. I like that the quarters provide a small denomination to the silver dollars. I do plan to add more to my collection. But I wish the price of silver would correct so that I could get a much better price.
I visited two local coin dealers in my area. The first dealer wanted $8 over spot. The second dealer wanted $15 over spot. The two dealers did not seem very reputable to me. That is why I buy primarily from the US Mint, but the US Mint does not always have the items for sale. I wish I could find a dealer that I could trust.
A GSR of 35.77 be intolerable; parity along with the common sense of wherst wealth comes, be critical. 3 stages of wealth and you do not want to be fully vested in stage three come the reckoning boy howdy.
Much like the Crown's "recovery" of the Virginia Company in 1624. Oh yes, socialism is for the people. If by "for the people" one means "for the bureaucracy," and by "for the bureaucracy" one means "for the bureaucratic nobility."
All hail King Morales I.
Hah, Kudlow reads Zerohedge. He called Bernanke the Bernank. so funny
Hah, Kudlow reads Zerohedge. He called Bernanke the Bernank. so funny
Listen silver bugs, you all need to chill the f$$$ out. This is a bear trap if I ever saw one.
Sell into this gift while you can.
Disclosure: Long $25 SLV Puts
Thunder dome disclosure: I am a troll who is being paid to try to fool people. (but I feel that it is futile on this site) I want my mommy.
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Guess the shares won't be doing so well. Any true silver bug hedges silver shares with real physical silver, well smart ones anyway. Paper is the problem. When you buy paper silver you work against the price going up. Take it off the market folks. Silver Liberation Army
BTW the best silver company to have shares in is First Majestic in my opinion. They also sell silver coins and bars minted from their own silver by NWTM. They ship as well. Beautiful bars.
bolivia.
the mother load?
either way, momentum plus gold fever (silver inclusion principle) is hotter'n hell.
"Morales will announce a decree May 1 to “dismantle the privatization model,”
Uh-oh. Somebody did something like that back in 1952ish and it didn't turn out so well. A democratically elected president said this;
"We are nationalizing the Anglo-Iranian Oil Company (AIOC) because it has systematically over several decades refused to engage in a constructive dialogue with us. Working hand in glove with the British government it has trampled on our national rights. Their conduct was one of unspeakable arrogance. Our battle for the end of the company’s domination has finally arrived and we shall triumph. It is a war against a beast that has corrupted officials at every level of the government. It has pillaged our ancient nation over decades. It has reduced us to poverty and humiliation. Above all, ours is a struggle for the conquest of our political freedom. http://www.globalresearch.ca/index.php?context=va&aid=21112"
Well, he got overthrown by the a couple 3 letter outfits and they installed the Shah and the Oil Company is now called BP jus sayin. Better watch it moralesWhat this all boils down to is that governments, like organized mobsters, can do anything they want and get away with it. Any investment that depends on governments following " the rule of law" is doomed to fail. Own physical gold and silver and be prepared to defend them with firepower - any other course is self-deceiving and ultimately idiotic.