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30% over NAV? Where did u find that Tyler? I thought paper gold was undervalueing physical gold?
Did you read the article? The Sprott trust only holds physical gold, and you can redeem shares for actual metal. Sprott is the closest thing to physical out there that isn't actually bullion in your hands.
I think min redemption in physical = $250K
"An investor in the fund may take physical delivery of a minimum of one 400 ounce bar by contacting the fund on the 15th of each month outlining the details of the delivery request including number of bars and so forth. It’s up to the holder to make arrangements for delivery and this can be cumbersome. However, an investor may opt to arrange with Brinks or another armored car service to pick-up the gold and transfer it to another storage provider who will take and hold London Good Delivery bars. Currently this might cost $2500 per bar which isn’t that costly given prevailing value of a bar at around $450,000. Or, if you’re feeling man enough, you can pick bars up yourself and toss them in the trunk of your mini. Um, bring your shotgun."
Anyone who says JP Morgan is one of the lead underwriters is a fucking liar
I'm not replying to your post Temporalist, just making sure that people see this
When it started, the Prospectus limited withdrawal of physical MINIMUM, 400oz. Bar.
Actually Central Fund's " Silver Bullion Trust " is the closest thing to physical. They were first out of the gate and have the lowest admin fees of any silver fund in the world. Trades on TSX as SBT.un
That is, of course, assuming one has access to TSX.
I hope Eric Sprott and Andrew McGuire have good life insurance policies
if you listen closely you can already hear the phone ringing at the "Dirty Deeds done Dirt Cheap, Inc." front desk.
Go cower in fear elsewhere.
huhu, good one
Le Metropole Members,
On March 25th at the CFTC Public Hearing on Precious Metals GATA made a dramatic revelation of a whistleblower source, Andrew Maguire, who has first hand evidence of gold and silver market manipulation by JPMorganChase and who has even tipped off the CFTC in advance of manipulative attacks on gold and silver. Just as in the Madoff case the regulator has done nothing to stop such manipulation.
On March 26th while out shopping with his wife, Mr. Maguire's car was hit by a car careening out of a side road. The driver of the vehicle then tried to escape. When a pedestrian eye-witness attempted to block the driver's escape he accelerated at him and would have hit him had the pedestrian not jumped out of the way. The car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were called in and following a high speed chase.
Andrew and his wife were hospitalized with minor injuries. They were discharged from hospital today and should make a full recovery.
And there has been no news since. The police will not comment either.
What color were those helicopters, Spitz?
My first comment was just a half assed joke.
I was just pointing out that these 2 guys are playing chicken with JPM and one of them got hit by a car.
Do I really think JPM ordered the hit ? not really
Those guys, along with Tyler Durden are frickin legends. Never mind 'Dirty Deeds Done Dirt Cheap' cause they'll be blaring "Big Balls' themselves. These guys are the Andrew Jacksons of our time. Air fives to all of you
This is a fantastic idea and I genuinely hope it is one that will hasten the day of reckoning for the silver manipulators. I'd like nothing better than to see JPM totally financially destroyed, even if it means (as I know it would) the possibility of printing of Trillions of new dollars and the certainty of a declaration of force majeure. Reality is the only path to recovery here, and only breaking the oligarchy can cause reality to come to the fore. Let the people see what's really going on.
I will be buying and holding for my retirement accounts.
This may be just the thing to get silver roaring.
From what I read, there are fewer physical ozs of Silver "above ground" than ozs of Gold. But, with Silver at +/- $18, it would not take too much money to buy up a substantial amount. And Silver is used, and not all that is / can be recycled.
Sprott may have just lit the fuse that sends Silver way up. Sprott the man.
I love Eric Sprott. If you haven't already signed up for his newsletters, I suggest you visit his site and get it done. Great, great stuff.
Are they free?
Of course you guys have all been following the massive outflow of physical silver from the comex recently?
LINK PLEASE!!! THANK YOU
He has done a very good job of evaluating the proceedings so far.
300,000 more ounces of silver reported out today.
As this been going on for a couple weeks - a run "on the bank" is underway.
It appears so.
However, I long ago lost faith in accounting...I generally err on the side of caution and take delivery in physical, but I do own some PHYS shares.
Silver Stocks on the bottom of this page. It's updated every day about 3PM EST.
But remember, this is Crimex we are talking about and these numbers are unaudited. No one knows how much metal they really have.
The Mugambo Guru, link at post bottom of page.
"since February 26, “17.9 million ounces…have been withdrawn from the ETF by authorized participants.”
1000 of those ounces were mine... Took the paper profit, will never buy a PM ETF ever again.
I knew you were a smart cookie....LOL
As long as he takes delivery and doesn't use leverage, he can break them.
See "Bunker Hunt"
Not sure if you are agreeing or disagreeing with me. The Hunts did break the bagged silver contract, and it never traded again.
I guess I am saying dont hold your breath the manipulators will be exposed. The rules of the game will be changed if things get out of hand. The FED is an old hat.
" Once the silver market was cornered, outsiders joined the chase but a combination of changed trading rules on the New York Metals Market (COMEX) and the intervention of the Federal Reserve put an end to the game. The price began to slide, culminating in a 50% one-day decline on March 27, 1980 as the price plummeted from $21.62 to $10.80. "
I understand your point, and if he were playing the paper game I would agree with you. The Hunts were successful when they took physical silver. They were broken when they tried to use leverage in paper silver. I am sure Sprott knows this and won't play their game.
Exactly. They can change the rules in a paper market all they want. If you hold the Physical metal, it won't matter.
Hey we got that % drop in the last meltdown -18 bucks something down to 9. I was on that train.
I suspect "he" won't break anyone. Because when this begins to get out of hand, the "National Security" card will be pulled out along with a few Jokers and Sprott and investors will be handed physical fiat and ordered to hand over their physical Gold and Silver.
We really can't be thinking these Powers That Be Ponzi guys will just hold up their hands and surrender, do we? Really?
In my mind, your scenario would still break the link between the paper and metal. Once you admit you can't deliver what you sell, it's over.
My apologies if I came off as flippant. I didn't really think you were saying the PTB would give up easily or without a fight but I worried that some readers might take that away from your comments.
I agree that breaking the link between paper and physical is key because it exposes the scam. And I've personally purchased a large amount of Silver because I feel that physical Silver has a much smaller chance of being taken/confiscated from me than my Gold. And the Gold I purchase is in ounces or smaller, so that it will be easier to barter/exchange for goods and services on the black market that is coming soon to your local street corner.
CD, doesn't the fact that Sprott is located in Canada provide him some protection from the US jackboots that would force confiscate in exchange for Fed TP were he here? Were he leading a physical silver squeeze, that is...
The silver fund's minimum requirement for physical redemption is approximately 10,000 ounces or +/-$200,000 initial investment. There is also an additional clause giving the Trust power to revoke physical redemptions.
"There is also an additional clause giving the Trust power to revoke physical redemptions."
Then their ass worthless as tits on a Boar Hog.
NO different than the others.
I smell a rat, ALSO.
It might. But it's clear that Canada is connected politically with the USA and if the USA demands Canada protect the USA "interests" I suspect Canada will do so. I have great respect for Canadian citizens but their government has turned a dark ugly corner over the past few years.
It also appears Canada is playing the same PM shell game so I suspect they will play along. I just don't see the international Ponzi folding without destroying those around them.
I agree, they will do whatever their PROTECTOR tells them.........
Roll over, do tricks, you name it.
Bought,Sold, and Paid For.
CD - good points if i might say, but in my humble view this game will soon be over...not because of Sprott but because of 6000 years of history....government always tried but at the end....it seems the game will be over soon
*Flagged as INSIGHTFUL*
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