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In The First Few Days Of 2012, US Mint Sells More Silver Than In Most Months Of 2011
In the first few days of 2012, the US mint has already sold 4.3 million ounces in silver coins. This is more than in all individual months of 2011 except for January and September, when the mint sold 6.4 million and 4.5 million ounces. Is the retail love affair with physical silver coming back with a vengeance?
2012:
2011:
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Don't buy more silver then you can carry. A monster box is 32lbs in my pack, 32 extra pounds becomes a lot over time considering everything else you should be carrying (arms, food, ammo, cloths, etc) should the worse cast metal ownership event occurs. Further, I can get a pocket full of eagles through customs without much trouble, the monster box... That's there is no hiding that thing.
dude, don't you know silverbugz can carry 30,000lbs? And will have access to fuel and trucks and construction equipment like cranes when "TSHTF"?
Given the execrable record of personal attacks, constant diversion of discussion, and egregious trolling by this individual, I am going to ask of the other members here something that I have never done before: please petition Tyler to ban this hate-filled, malicious troll, as I have just done myself.
You can contact Tyler, and report Trav7777's constant and ongoing abuse of this forum, at abuse@zerohedge.com.
It is loathsome to have to ask this of you all, but this person has totally gone over the line in his trolling and personal attacks, and it demeans all of us to have to continue being subjected to such hateful and puerile behavior.
No.
I'm not saying I am a fan of Trav, but I am not going to support censorship, not here or anywhere else. He's got every right to act like an ass.
Illogical response --- it has NOTHING to do with "censorship"!
So I guess you would be OK with a child screaming at the top of its lungs during a movie, or during a church service, or at a recital? Wouldn't silencing or removing that child be "censoring" it and "interfering with its right to free speech"?
"Censorship" is the stifling or repression of ideas --- please show me where trav is honestly and sincerely engaging in the exchange of ideas here. Let me cut to the chase: he is not. A posting history which consists of almost NOTHING but personal and ad hominem attacks, hatred, malicious and inane quips, and pointless diversions of discussion reflects the acts of an intellectual child holding a tantrum, and deserves to be treated similarly.
My God, why have so many people lost the ability to think, and to oppose wrong, and to take a STAND nowadays?
Trav777's place is to inspire rational thinking people to refute his babbling with facts, opinions, wisdom, and personal perspective. Trav777 makes Zerohedge stronger, because he brings out the best in members so that information is disseminated to younger, less experienced members. Think of Zerohedge as a system of education for those who need it. Trav777, and others like him are the fuses that ignite the fireworks of knowledge amongst us. No one pays attention to the fuses during a fireworks display - they are too busy oohing and aahing over the bombs bursting in air! No Trav777, no spirited bombast from akak. The world becomes a much more boring ignorant place.
True that. The "man" makes very few actual arguments.
Rather than see him banned, I'd like to see a disclaimer next to his name. Maybe something like "Forum Clown", or maybe something a bit more serious like "Known Liar".
Oh, fuck no. It makes my day when I see a headline with "silver" in it. I know that I'm going to laugh my ass off when I read the comments. Please don't take that from me.
>:-(
feel free to write tyler and let him know
Can't ban Trav7777!
Tyler is Trav.
Tyler got 'picked up' three years back and during his treatment by the Doctor's Trav7777 was born. Unfortunately for TPTB Tyler's defense to Trav was to create three more Tyler persona's.
I'd rather ban anyone who thinks they have a legitimate cause to ban this guy.
If you actually read any of the back-and-forth (which I admit I rarely have time to do), not only does he seem to consistently make more sense than any of his "critics," he also comes off as being far less insane.
His tragic flaw seems to be a bizarre fixation on frugality, or valuing the imaginary numerical aspect of money over its kinetic deployment. But his insight into other areas has certainly been both fair and logical by any standard.
Those proposing otherwise are clearly freaks
@ akak
You really think that I have lost the ability to think, oppose wrong and take a stand?
I disagree, obviously.
Zero Hedge is a public, or at lest semi-public forum, and whether you like him on a personal level or not, Trav7777 contributes more than one-liners like "Silver, bitchez." He's said plenty of things that I don't support, but there are some valuable thoughts and insights in there along with the parts that make you uncomfortable.
So, you don't support eugenics- I get it. I would submit that your reactions are knee-jerk, not mine (though I certainly have my own share of bad days, we all do.) As I see it, the primary value of ZH is breaking programming- not financial news. Let's face it, while the fundimentals are great, the Tylers don't provide much in terms of timing, and in trading, timing is everything.
There is a stand to be made here, however, and I'm making it. We got to where we are today in part because everytime some idiot had a neighbor who did something they didn't like, or said something they didn't agree with, they got all huffy and red-faced and ran off to the town hall to belligerantly claim that "There outta be a law!"
Well, we got our laws, and look where they've brought us. If we had, as a nation and a people, held to the basic tenets of our bill of rights in every case, and had the courage to stand up and defend the rights of everyone- even those we do not agree with- in every case, we would still be free. But we did not do that- we begged for Mom and Dad to save us from everything we thought was mean or ugly, and forged our own chains in the process.
If you don't like someone's posts, you are free to scroll past them- the last thing we need is an inquisition here.
That's the thinking. I am opposing your desire to forcebly silence someone you don't agree with, which I consider wrong, and I am taking a stand by telling you that clearly and publicly. Don't know what else you want from it, aside from your desire that I jump on the bandwagon and wave an "exile Trav7777" flag.
Well, Prometheus, while I may still disagree with you on Trav, you have certainly laid our your argument very well and intelligently, and politely, as well as having possibly provided some food for further thought, and for that I thank you.
Having been a member of several forums that ended up being overrun and mostly or completely destroyed by rampant trolling and the lack of sufficient or effective moderation, perhaps I am a bit overly sensitive to the issue, as this is now the last online forum in which I participate to any extent, and I would hate to see it fall to the same pattern that the others did. But it must be acknowledged that certain former disruptive posters here HAVE been banned in the past --- such as the over-the-top JohnnyBravo/MasterBater, as well as the various incarnations of WilliamtheBastard/LongJuanSilver/TexasGunslinger --- so there clearly are cases in which such action is called for. I guess we just disagree on this particular case. But my issue with Trav is not with any opinions of his as such, as it is with his unprovoked, gratuitous, repeated and consistent personal attacks on certain members here --- THAT is what I find unacceptable.
If what you say is true that Johnny Bravo etc ended up being banned i'd be VERY disappointed to hear that.
What? start putting the brakes on posts as i think i'll get turfed. Fuck that.
Can anyone back this banning story up?
Agreed.
“He that would make his own liberty secure, must guard even his enemy from oppression.”
Thomas Paine
“If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter.”
George Washington
How is banning someone on a private forum censorship. I don't think George Washington was thinking about blog comment trolls when he crossed the Delaware. If he wants to be heard to badly he can just start his own blog or something.
If there had been someone screaming his head off while Washington was crossing the Delaware, the United States wouldn't have existed. :)
but having a punching bag is kind of fun...just saying
Agreed, but when the punching bag starts leaking shit, it is no longer any fun.
Whoa Dammit, man up AKAK. This is fight club for chrissakes. You should be ashamed of yourself for crying uncle to TD. This is a damn shame Akak, damn shame.
On the contrary, what I think is a "damn shame" is people being spineless cowards and limp-wristed enablers of a known and recognized disruptive troll. Again, talking the screaming baby out from the church service is NOT "censoring" it --- it is preserving that which is otherwise good for EVERYONE ELSE.
I have had plenty of disagreements with various posters here, and continue to do so, but I have NOT called for them to be banned, or even thought about it, because those posters at least are willing to engage in meaningful dialogue and intellectual exchange. What this trav7777 has been doing here, though, makes a mockery of the very idea of dialogue, and of this forum itself --- it is simply the equivalent of vandalism --- and it disgusts me when a person sinks to that level but is nevertheless tolerated or even defended by the intellectually and morally weak under some absurdly misguided notion of "free speach".
EDIT: Apparently Tyler agreed with those of us who protested Trav's continued presence here --- it appears he has been banned.
I hope you're wrong. If your bitching and crying got Trav banned, this place is going down hill. Man up and quit acting like a bitch.
Damn straight.
People are sick of the nanny state and smartarses telling them whats good for them.
We dont need it on ZH too.
Dawg , i think these guys are basically feeling the strain of a 12 round rumble in the jungle.
They need a break and its up to both of us to step up for a few rounds.
Wonderdawg - the results from the clinic are in .... and you have anal herpes.
What do you say to that?
Meh. I've lived through worse ;-)
Oops wrong envelope, it was akak's results.
Actually, people are upholding what everyone who claims to believe in freedom have been bitching about on here forever (or three years).
You don't have to cross the street to beat him with a shovel if he was on fire but even trolls got thier place and a right to speak.
The beauty of ZH is no holds barred, no political correctness bullshit to be concerned about; freedom of choice - folks that don't like it don't have to read it...
...slippery slopes are greased this way....
no; I'm still here.
my mockery of your opinion isn't vandalism, because your opinion isn't art. I've seen you do your schtick with other posters, where you are inadequate to frame an argument so you call for banning. That is intellectually lazy and actually quite cowardly. Maybe you would fit in better at TickerForum?
Dialogue isn't agreement with your echo chamber. It may shock you to know that there are a goodly number of people who agree with my point of view.
When clicking on your profile earlier, I came up with the message "Acess Denied", which in the past usually meant that one's profile had been deleted, so I assumed that yours had been as well. Too bad for this board, and for honest and intelligent discussion.
As for the rest of your specious tripe, I would say "Look at the pot calling the kettle black!", but in this case, it would be more like "Look at the black pot calling the kettle ..... paisley, or cotton, or integral".
there is nothing whatsoever honest about you, nothing whatsoever intelligent, and you do not "discuss" anything with anyone. you spew vitriol and you cheerlead. and you are a fan of censorship, thought control, and orthodoxy.
You are not who you claim to be.
As usual, ALL you can do, and all you know HOW to do, is exaggerate, lie, and spew negativity and snark. You LIE when you say that I "cheerlead" --- give me examples or you are a proven, lying troll RIGHT NOW --- and I am a fan of intelligent and honest discussion, NOT allowing one malicious, nasty, hateful troll to disrupt the discussions of hundreds of others with his constant personal attacks and intellectual vandalism.
You are a disgrace to this forum, and it is to Tyler's dishonor that you continue to be allowed to disrupt this forum and spread your constant drumbeat of gross lies and personal abuse.
"You are a disgrace to this forum, and it is to Tyler's dishonor that you continue to be allowed to disrupt this forum and spread your constant drumbeat of gross lies and personal abuse."
wtf?
Step away from the keyboard.
dick move dude. Seriously.
especially with the fact that you lend nothing to ZH so far as I can see other than personal attacks on posters you don't like. And yes, you HAVE called for banning several times.
I have called for YOU and other malicious, non-constructive, hateful, personally abusive trolls to be banned --- because you deserve it. Your continued presence is a disgrace to this forum, or to any forum.
Fuck no and be ashamed.
"and it demeans all of us to have to continue being subjected to such hateful and puerile behavior."
You sound an awful lot like RNR/LFP.
This is fight club! I welcome the challenge from T7. Makes you think.
Then let's invite 1000 abusive, flippant, destructive trolls to join this forum, and then see just how much you enjoy it.
It only takes a handful, sometimes even just one, radically abusive and destructive troll to sidetrack and ruin an online forum. I have seen it happen time after time. It is in a way surprising that this one has lasted as long as it has in relatively decent health, but refuse to nip such problems in the bud, and they WILL grow, fester and ruin what so many value here.
This place is a great sociometer. It's reflective of the overall deterioration in the collective social mood. Lack of tolerance for opposing viewpoints goes hand in hand with negative social mood. Bear market mood, so to speak.
Who is "lacking toleration of opposing viewpoints" here?
Calling for banning is a lack of toleration. And, you're as guilty of personal attacks and name-calling as anyone here, akak. You and I seem to have reached a level of detente, but you still get personal when I present an argument for deflation before inflation. You were the first person in this forum and pretty much the only person here (along with Tmo) that I've had any kind of hostile exchange with. I would just suggest you look in the mirror before pointing the finger at others.
You are flat-out wrong in that absurd assertion, and I am insulted that you would so disingenuously even try to make such a claim.
Calling for the banning of a poster due to that poster's ABUSE OF THE FORUM is NOT a "lack of toleration" --- at least not a lack of toleration of opposing viewpoints. It IS a lack of toleration of egregious, repetitious and pointless personal attacks and forum-stalking.
So are you actually saying that there is NO POSSIBLE level of trolling, forum disruption, or abuse that could POSSIBLY justify Tyler banning a member here? At all? Really? Because there HAS been in the past, and Tyler HAS banned more than one troll here before, and justifiably so. You enablers of wrongdoers need to get over your self-righteous and woefully misguided notions of "free speech" in a private forum, as well as understand that there is a fundamental and radical difference between "speech" and mindless, abusive shrieking.
I cannot help but see the complacency and spineless tolerance towards trolls demonstrated in this thread as just another reflection of the overall complacency, cowardice and moral abdication of the general public in this sorry day and age.
Oh Reginald!
I disagree!
"So are you actually saying that there is NO POSSIBLE level of trolling, forum disruption, or abuse that could POSSIBLY justify Tyler banning a member here? At all? Really? Because there HAS been in the past, and Tyler HAS banned more than one troll here before, and justifiably so."
The Tylers can decide who gets banned and who doesn't. They read the comment section. They have read Trav's posts and they do not ban him. It's their forum. Until the Tylers decides that Trav needs to be removed he will stay. Try to do what the rest of us do, ignore him.
Crying for the moderator on this forum has been deemed poor form and a dickish move.
"You enablers of wrongdoers need to get over your self-righteous and woefully misguided notions of "free speech" in a private forum, as well as understand that there is a fundamental and radical difference between "speech" and mindless, abusive shrieking."
Well if there is a radical difference between speech and mindless, abusive shrieking then how do you defend this crap:
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2040835
"If you want to see a top getting blown off, just go find Trav in the nearest adult video arcade.
Hint: look for the scrawny, disheveled white guy tapping his foot under the door of the booth with the big buck nigger."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2041117
"You need to kill yourself, now.
Eugenics: it's not just for Nazis anymore."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2041110
"Kill yourself, now.
Consider it well deserved self-eugenics."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2041046
"Somewhere, a horny nigger is still waiting for his blowjob Trav ....."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2041100
"What's that?
I can't understand you with that thick black cock in your mouth."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2040590
"That's probably why you always rail against those damned niggers here --- deep down you really, secretly yearn to wrap your lips around that huge swinging black meat."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2041132
"How do you manage to both type and get fisted at the same time? Now THAT'S dexterity!"
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2040705
"Somehow, I am sure that niggers are to blame for that."
http://www.zerohedge.com/news/physical-silver-surges-record-30-premium-over-spot-backwardation#comment-2041758
"I only used the word "nigger" in a neutral, sarcastic sense.
You are the one who consistently gives it its hate-filled, racist meaning here."
Like the clueless and dishonest neocons who try to justify their wars of aggression by the inevitable "terroristic" reactions of invaded nations to invaders, you apparently fail to recognize who was the initiator of abuse, and who was responding to abuse, in the above exchanges.
I make no apologies whatsoever for asking the (oh-so-hidden) moderator to maintain the integrity of this forum, and for all of you who continue to spinelessly tolerate personal attacks and abuse here, I say "Wake the fuck up already", and start exercising some minimal amount of critical thinking skills and moral judgement here --- and grow a pair and be willing to stand up for what is right, instead of bowing to some absurd and misguided sense of political correctness which dictates that suppression of abuse = censorship.
Apparently, many of you are not as free of the shackles of moral relativity, and the fear to judge and stand against what is wrong, as you would like to believe. Question your assumptions.
Flail more.
I also do not support Trav being censored in any way but I do wish he would make his points clearly concisely with all the conviction he feels necessary and then shut the fuck up..
Trav is a Race-Realist. That alone redeems his silver transgressions.
Some of us actually will have access to fuel, trucks and cranes. ;)
The gold is for if/when the SHTF. The silver is a good long term play based on the fundamentals. IOW, gold is insurance, silver is an investment.
All trolling aside, I had a conversation once with the General Manager of Delaware Depository Service Company, an approved COMEX provider, back in 2005 when I was working on a large physical silver deal. I was expressed my concerns about the compatible small amount of insurance coverage they had. He said that it would take 7 days of round the clock work with tractor trailers lined up for miles to remove the insured amount from the vaults. This was the first sign of the logistical nightmare that turned this silver deal into a gold deal. Far easier for the client to have it moved to the privacy of a small bank vault in North Dakota, where it sits today.
Sculpture will go through fine. Cast it, dip it in brass, done.
OT:
http://www.nakedcapitalism.com/2012/01/bill-black-more-proof-of-obama-policy-of-covering-up-for-elite-financial-criminals.html
http://wakeup-world.com/2011/09/06/full-blown-civil-war-erupts-on-wall-street-financial-elite-start-turning-on-each-other/
Well, how do you top a post like that?
remeber that the US mint reported 3.5m oz's of December's total in these January numbers. The news should be December x3 normal monthly sales volumes...
Yeah. I think they didn't want Dec to look like the all time record it was mid fake dollar pump.
in this age of alleged silver shortages, where does the mint get its silver?
uranus?
And why would they trade fiat money for it right now.
For the same reason all, or at least most of us, should be hoping that silver shows a return, but not a "to the moon" scenario due to hyperinflation.
Whether you're using paper, silver, or polished rocks for money, status quo tends to be more stable and better to live in than violent upheaval. Treasury Dept. has all the reasons in the world to uphold the status quo, and minting an oz of silver with "one dollar" stamped on it is a powerful psychological tactic for that.
Maybe just to play Devil's advocate for a minute, but am I the only one who is maybe vaguely uneasy with, or ever-so-slightly discomforted at, these facts?
I would be more comfortable holding a silver position if I did not see sales rising at quite such a rapid clip. Granted, this is talking about only Silver Eagle coin sales specifically, and I am NOT suggesting that silver is in any imminent or visible "bubble", but still, it somehow vaguely unsettles me.
Damn right I am feeling a bit unsettled myself...
Ok, Bob Moriarity
Is it actually dawning on you now...things that dawned on some of us a year or more ago? Try listening, seriously...wtf
Watch this:
http://www.youtube.com/watch?v=FSqA1dRgfbA
Not the first time in this situation. Gold was $42 an ounce when Nixon went off the gold standard in 1971, and by 1980 it was over $800. So almost a 20 bagger in 9 years. Unfortunately US citizens could not own gold until Jan 1, 1975, when the price was at $175 an ounce.
Of course now Gold is at $1,600+ and rising. Another 4, 10, or 20 bagger from here in gold or silver would not be unprecedented, especially with trillion $ deficits, Banks about to collapse, and the FED and ECB doing all kinds of back door money printing to "save" the banks. And no Volcker in sight to crash Gold back to $200. We have been here before, and this time the Fed has shot all their bullets already. Everything about the financial market is way more than vaguely unsettling. An opportunity as well as a threat.
PSLV
Sprott Physical Silver ETF, "PSLV", and how it has risen in open market trading to over a 30% pemium to the underlying metal that is owned.
A question has come about as to "why" the premium and why so high? The Silver market is simply tight and virtually barren of real pysical metal in any size at all.
Institutional investors don't play for peanuts, they move $ Millions at a time in metals.
Of course, these amounts are miniscule in comparison to the debt markets where $ Billions are moved in nanoseconds (this is one of the principal reasons that both Gold and Silver are grossly under valued in comparison to the amount of paper outstanding). The answer as to why such a huge premium in PSLV exists is the simplest explanation of all (Occam's razor), the physical Silver market is extremely tight and the market place trusts Eric Sprott.
Many institutions have tried to "source" metal in size and found out that it is just not available for delivery. Some of these institutions also do not want to "rock the boat" and be SEEN buying physical metal by their fellow paper pushers. The metal "contracts" are largely unbacked and that the shares have also been sold naked short, so it follows that some of these shorts would want to hedge their exposure to the mathematically guaranteed short squeeze that is to come.
Institutions TRUST Eric Sprott and are using his ETF to gain long exposure to hedge and or be long to the metal.
Last year Sprott had a very difficult time and waited several months for delivery when he purchased a measly $300 Million of Silver. Imagine what a $1.5 Billion order would do to the market! It would not surprise one bit if this size order were really placed and could not be filled, that the entire global financial system would collapse within days. Envision a scenario where the orders are placed and the world "collectively" realizes that the jig is up!
If a measly little $1.5 Billion cannot be sourced in a market that the the talking boneheads like Nadler, Christian and "it's a bear market" Dennis Gartman have told us is flush with metal, then what?
It is NOT flush with metal...period!
Not ham sandwich retail orders... institutional orders in the millions of ounces.
Last year it took nearly 4 months for Sprott to be filled on a $300 Million order, do you really believe there is more Silver in the market now?
To put this in perspective, the U.S. Treasury runs in deficit roughly $4 Billion PER DAY! If the U.S. Treasury had to fund it's daily deficit with real metal rather than funny money, the jig would be up immediately.
They "say" we have about $400 Billion in Gold reserves, this amount would last only 100 days of actually paying the deficit. Of course, this Gold is described as "deep storage", as in STILL IN THE GROUND!
The whole system is like a giant pyramid standing on the head of a pin!
A $1.5 Billion order that cannot be filled would be enough to cascade EVERYTHING!
If you understand this simple correlation, then you understand just how close we are every single day to "something" getting out of control. Control is what everything and all markets are all about today and have evolved into.
The entire global financial system is like a "grand theatre" where everything is choreographed in the hopes that no one who smells smoke or see's flames, actually yells FIRE!
Can you imagine something as ridiculous as 50 million ounces of a totally barbaric and "unimportant" relic like Silver taking down the entire facade?
Don't laugh because it could happen any time because investors are like cattle. If you have ever seen a real stampede first hand.
www.lemetropolecafe.com
PSLV doesn't do shit. You can short PSLV. You can't short silver in a vault. Sprott would help the Buy Silver movement more if he closed down shop and sold the physical.
My primary supplier...
https://www.sprottmoney.com/
Get facts straight before pissing on your boots.
I know Sprott sells silver. My point is that the ETF doesn't do the physical price any good, as JPM et al can short it, so don't piss on my back and tell me it's raining.
Don't Piss Down My Back and Tell me it's Raining
http://www.youtube.com/watch?v=4A69ukkQFrw
what if it's actually raining while I'm pissing on you?
HAHAAAAAAAAAAAAAA-brilliant! But not so brilliant as my stax of silver eagles.
You better hope it's a warm rain or you'll be punched in da mouf
The whale buyers are going straight to the miner and not fucking around...
win/win and sprott also working with miners to get them to provide dividends in phys silver.
use the product for what it is - CURRENCY and say fuck you as well-another win/win...
why in the fuck convert to a hasbeen green rag called the dollar...
Or another possibility might be that Sprott would sell a big chunk of his holdings at a high price, and buy a futures contract for delivery of a greater quantity of metal later on, kind of like any sane person might do. Sprott may have in mind to buy low and sell high however crazy this may sound to some. Hell, I would venture to say Sprott actually gives a shit about what the spot price is too. I know, shocker.
John Corzine, try as he may, did not blow up the futures markets altogether. He will however cause Obummer to lose the election since he has obviously instructed Holder not to prosecute this criminal. It took long enough for Obummer to return the campaign cash, but that in and of itself is plenty acknowledgement that Corzine did wrong. Obummer will hang for this in the end. Old Chicago politics is slowly but surely finding its way to the door.
Dream on. We'll be stuck with BO for another four years.
DP-Thanks for posting this. I trade PSLV regularly. This is a really fascinating development with the premium.
I'm in for 20KG of silver.
Watch this, this is why silver is the place to be: http://www.youtube.com/watch?v=-IiarVvZguY&feature=channel_video_title
I doubt discount the information in that video, but I must say that it sounds like a video from the NIA.
If, I can't afford gold...Ain't silver the next best thing!
More coin for the (limited) buck!...Right? Oh, been saving my nickles and checking my pennies too!...But, to be totally honest, my main "investment" has been lottery tickets!!
Yeah, baby!
You will win the lottery the day before .gov devalues the dollar by 1000%.
Did anyone read the Endeavor Silver (EXK) production report today. They have followed the advice of Mr Sprott and held back 800,000 Ounces the 4th Q of the over 1million of production. THEY HELD IT INSTEAD OF SELLING IT AT THE CURRENT PRICE!!! If just a few producers do this they will break the back of the comex. The upward unwind will come out of left field as true price discovery occures.
Now that, is great news.
A silver mine revolution has begun.
now ya talkin! fuck the hasbeen green rag. silver is money and the world is catching on.
miners figuring out the balance sheet can be enhanced; and a very attractive dividend to shareholders-PHYS SILVER!
still want PHYS only. not an endorsement to put green rags down with greedy motherfucks-don't trust any corporate fuck heads including sprott fuckhead...
hmm interessant...
http://www.edrsilver.com/s/newsreleases.asp?ReportID=500214
"Due to the correction in metal prices in the 4th quarter 2011, Endeavour management elected to hold a significant portion of the Q4 silver and gold production in inventory rather than sell at the lower prices. Management plans to monitor the metal prices closely and sell some or all of the silver and gold in inventory at appropriately higher metal prices, or if the need arises for more cash.
As a result, the Company sold only 400,000 oz silver and 4,000 oz gold in Q4, 2011 and metal inventories rose to 812,000 silver oz and 3,000 gold oz in bullion and another 168,000 oz silver and 2,400 oz gold recoverable from concentrate as of December 31, 2011. Therefore, revenues dipped 39% in the 4th quarter to US$17.5 million and Endeavour's 4th quarter and 2011 annual earnings will not reflect the ounces withheld from sale and currently in inventory.
Endeavour delivered its seventh consecutive year of production growth and exceeded its production guidance of 3.7 million oz silver and 19,000 oz gold for the year. Silver production rose 14% to 3,730,127 oz silver and gold output escalated 23% to 21,810 oz compared to 2010. "
Sounds like a miner worth investing in. Far better move than hedging at this price point.
LINK, nothing on the website I can find just some happy mexicans playing with finger paint..
Correction thanks Jon-jon..
Why not? They are already sitting on $109M in cash and short term investments, and only $13M in current liabilities. Why take a chance of getting MFGlobal'ed on electronic bits in a bank computer system somewhere? Pile it up in the office where you can put a squad of AK47's on it and be more sure it won't get "lost" / stolen by the Banksters.
http://www.edrsilver.com/i/pdf/2011-Q3-FS.pdf
This won't catch on. If it did then certain people in New York would be in trouble. Two to the back of the head of who ever made that call and it will be reversed by his replacement (Speaking metaphorically as people arn't actually shot over this kind of thing).
From a numismatic standpoint, the huge silver outlay in Jan., 2011 was due to the mint selling all of the popular numismatic items at the start of the year, except for the silver eagles. This included the prooof sets, etc, which normally did not get produced until mid-year.
Because no one has said it yet
Silver Bitchez!
Yeah, we were too busy fighting Trav
You are FUCKING EPICNESS!!!!
I ordered 20 2012 US Eagles from a primary dealer around Christmas time to get some early strike ones. These are supposed to be better than later strikes after the dies have become worn. This is probably not really true, because the mint should regularly replace worn dies as they wear out, and date of production should not be a guarantee of anything meaningful.
I suppose much of the early January demand is from orders placed in December awaiting the early release of new Eagles. Dealers often buy monster boxes (500 coins) and have them shipped to a grading service so they can sell the 15% that grade MS-70 for a premium. These are also labelled "First Strike" if received early enough by the grader/slabber.
So I doubt the first week sales means very much of anything, except that there is still some collector demand for these coins. It doesn't tell me much about the future demand for industrial silver or the price of silver over the next few months.
Got some Phil's today (paid under $30/ea on the dip). Somewhere, somehow during shipping someone shaved the reeded edge off. Crap. ;)
If silver Phils had reeded edges they would be damn near perfect.
Love those mirror finish edges man. great friggin coin. The Chinese Panda has incredible engraving on it too. The best I've ever seen. 2010 was a great year... 09 and "11" are great too. That has to be my favorite silver mint. Makes the U.S. Eagle look like an Amark round. I know it's expensive but If you're a conesiour like me you have to have one.
Here's something that's also increased in sales.
LEAD!
Pack a Gun and Pay No Tax!
Ann Barnhardt said in her interview with - I forget...OhYeah, Pollock - that she will pay no more taxes to Obama, Corzine and Co. Her home address is on her site, and she's in the Regime crosshairs now. For those of us who have invested in lead as well as silver, this could be Concord Bridge. Keep an eye on her site...let's see if she requests any fire support when the time comes.
I am interested in this debate going on about silver supply and demand. It is something that I have been following closely since Ag hit $50. As far as the U.S. being a minor supplier of silver that is true at approximately 5% of world supply. However, when the demand of a population exceeds supply produced by that same population, that is significant. And we are only talking about American Silver Eagles. This is only one source of retail investment. Given that it is widely acknowledged that total world supply of above ground silver is down from something like 1 billion ounces to just over 130 million ounces available for speculation or investment (of course this does not include the amount held by investors who are not selling - ie Eric Sprott who holds something like $3 billion worth). If you then take into account the amount of silver consumed by industrial demand per capita (which I have been diving into and don't have good enough numbers yet - but it is high) then a startling picture begins emerge. The U.S. comsumes a significant percentage of total output and we have emerging economies trying to catch up with infrastructure. Silver is the second most useful industrial product in the world behind oil. The uses of silver are vast and increasing as new technologies are explored and exploited. I am not a wealthy person and I don't have vast sums of money tied up in silver, but I believe that it is a store of wealth. The case for silver can clearly be made if you take a moment to dive in. Gold has vast reserves above ground. Almost all the gold that has been mined in the world still exists and is recoverable. The same is not true of silver. The price has been so low for so long as it has become more useful and the amounts used in products so small, that it is almost always to expensive to recover and recycle. A significant portion of silver mined through history has now been used up and discarded (not recoverable - at least not economically). If I am wrong, then I am wrong and I have a physical asset I can sell back (even at a loss, it will still have intrinsic value). If I am right, then I pay my bills and my childrens bills even with a pretty insignificant investment. Tell me why so angry and against silver investment? What is the downside smart guys?
NDAA Bill.
Complete control.
You forgot to factor in your valuation equations that the alternative currencies you're measuring silver with (dollar or Euro) are intrinsicly worthless and represent the pride of bankrupt and insolvent nations and you have to say a prayer everyday when you wake up that this won't be the day they go tits up.
Yes, and what is important to realize is all the paper silver (SLV, endless shorting, certificates, Phony Vaults at HSBC, COMEX, JPM, rehypothecation of physical, etc); is keeping the price down, so when we go over the confidence edge on fiat currency, the market becomes bidless. So in effect, silver will do a moon shot and STAY THERE. The actions of the paper manipulators are making this more of a possibility every single day.
And finally, the "alleged" shortages are there. Government stockpiles are gone - no country has silver reserves that could enable a Silver Standard restart on the monetary system when the fiat finally breaks down. So there is a actual metal shortage and so all the monetary system restarts will be Gold based. However, Silver is still money and won't be denied. It should then become more valuable than Gold. For example, suppose Gold is correctly re-valued so it is the equivalent of $10,000 an ounce. What would Silver be worth? I can't imagine less, when the General Public can't get Gold because it's locked in a Government vault. They will however, use Silver. So Silver will once again be the common currency, and SHOULD trade at multiples over Gold because of it's rarity (one ounce of Silver for every 7 people...wow). While Silver is rarer worldwide, the common people have the Silver and the Government has the Gold. Therefore the New Monetary system must be backed by Gold, but convertible so Silver can be used as well. This is what the People will require and it will happen.
And as far as Silver Mining...it will take 10 years to really spin up the production and end the shortage. So for quite some time, Silver will be the New King.
Most Silver production is a by-product of Gold and Lead mining. Few primarily Silver mines. End the shortage? All the easy, obvious prospects have been dug up. There are very few Comstock lodes left to be found after 100+ years of prospectors looking hard all over the world. Peak Silver, Baby. Maybe some big new supply from Mongolia and Siberia where no one has really looked yet, but enough to offset declining production from US mines? And other declining mines around the world. And NIMBY / Environmental Impact hysteria inhibiting new mine development? Fact is US Silver Eagle sales in 2011 alone were more than US Silver production. US Industrial demand was all imports. Once the 20-50/1 fractional paper leveraging, re-hypothecation, and other paper shenanigans blows up, the real value of silver will be exposed.
A real problem with economists is a naive assumption that supply is infinite - just a matter of a high enough price. Not true for oil, and not true for silver. There is a finite amount. Peak Silver means I won't part from my little stash until the price is orders of magnitude higher.
An oddball, but this seems as good a place as any to interject it.
If you're collecting physical commodities, Frankincense resin is a damn attractive play right now. It's about $8 a pound wholesale, while retail goes for as much as $4/oz- and it can be warehoused more or less indefinately. Right now, the trees are aging, and new ones keep getting killed off by disease and insects- there's a projection that they're headed towards oblivion.
While I don't think there's an ETF for it, it's easy to buy, and if you live in a city with a Catholic church, and have some patience, it could show a hell of a return at some point down the road- people will pay just about any price point to honor their religion, and it's traditional for them. The counterparty is the church or perfume industry- niether of which seem to shrink away from high prices when you have what they want. It also has some medicinal properties, though it's rarely used for that in Western cultures.
Smells kind of lemony when you burn it, and it keeps bugs away, too.
Anyhow, for what it's worth. I figure I might get a few dozen pounds and tuck it away somewhere as a side pocket.
Prometheus, you are NOT going to believe this, but I just received in the mail yesterday a (small) order I had made for Frankincense essential oil! It is amazingly coincidental, and interesting, to read your comment regarding it so soon afterward.
Another item you might consider, and which I purchased a significantly larger amount of last year: Sandalwood oil. The trees must be totally killed (uprooted, in fact) to harvest the wood to extract the oil, and as they are slow-growing and semi-parasitic on other trees, the cultivation of them is troublesome and slow at best. The vast majority of the trees in India have been (over)harvested, sources have dried up over the past ten or twenty years, and supplies for the foreseeable future can only be expected to decrease further. And helpfully, Sandalwood oil is one of the few essential oils which actually IMPROVES with age (coincidentally, along with Frankincense oil), so storage is not a problem.
A total ban on all exports of it from India has been repeatedly discussed, and while some does still come from Sri Lanka and Indonesia, the Indonesian variety is considered of lesser quality, and neither alternate source can supply the amounts that India used to until just a few years ago. Plantations of Indian sandalwood have been made in the last decade in Australia, but it remains to be seen how well the trees will grow there in the long-term, how well the trees will produce the essential oil within their wood, and of just what quality that essential oil might end up being.
PS: Do you have the name of your wholesale source for the Frankincense resin? I would be very interested to check that out.
"Is the retail love affair with physical silver coming back with a vengeance?"
Yep. But I stopped by my coin shop today and the guys that usually sell me a handful of Eagles every week or so told me I have to talk to the owner when he's in.
even us lttle guys are negotiating. bitchez?
Wait. Within a couple of weeks you'll be able to buy it for around 10 or 15 bucks.
Great. Hook me up?
Look forward to the opportunity - but doubt if it ever happens.
Are you selling futures contracts? I'm in!
Am in 2!
Zorba bought 6 monster boxes under $15,000 final cost.
And if silver had gone down, zorba would have doubled down.
But zorba still believes in 2012 a buying opportunity will present itself,
if only briefly, to buy both gold and silver at bargain prices as the equity
markets crash after a sharp downturn in economic indicators. IZHO cash
will be king in 2012 as great opportunities will present themselves in the
volatile markets of 2012. Zorba will be exiting all paper assets this month
and sitting in cash until such time as sell-offs in stocks and bonds bring
PMs down for a brief period at which point Zorba will buy physical at a
fraction of its real value. Zorba would recommend to ZH readers that they
start raising cash by exiting paper positions now before it is too late, and
be ready to BTFD in PMs.
That place charges it's customers over $250 to stamp a platinum blank with an eagle and The United States of America Script on it. Must be expensive to hire a guy to press the stamp button cause they don't sell that many of them. You would think that with platinum being $200 cheaper than gold they would be as popular as their wildly popular gold and silver eagles but if your not interested in moving product it's a good idea I guess... and I used to grimace when their silver was getting $4 over spot to the RCM's $2.
removing max hardship allowed on 401. don't even care about tax consiquence! will be awaiting zorbs prediciton.
buying here and there to add on dipseedodas...
Borrowed against my 401k for silver over a year ago. Didn't want to get MF global'd (I didn't even know what an MF Global was but I had my sneaking suspisions they were out there and they were coming.)
meeting with this idiot financial advisor to do paperwork for hardship(and acct. transfere) you would not believe the difficulty in getting at you own money. have to transfere from fidelity as they DON'T ALLOW HARDSHIPS EVEN THOUGH THERE OWN DISCLOSURES INDICATE THEY DO and the plan administrator states as allowable too. not joking. seriously folks, calente is right. they will do whatever they want...
all this parot said is that because of the patriat act they can refuse-not kidding! copy and paste as follows
"I will need to see Jan in person to set up this account. The Patriot act has made things a bit more restrictive on what I need to do before allowing an investment."
so, you will get the biggest motherfucking bunch of shit and run around...
probably ok to loan against and get phys. i just want my money and be done anything of the sort. you name it; sepira, ira 40x, all a government bunch of bullshit with shifting rules and regs. no question in my mind it will be gone at some point in time...
January ain't over yet.
I love thinking about silver coins. It makes me feel all warm inside.
Funny how so many more people seem to have that reaction to silver and NOT gold.
Objectively, I will grant you that gold is the more beautiful metal, but at the same time, I have never fondled a gold coin the way I have many silver ones.
my favorite coin is a first year eagle proof.. 1986. it comes in a faded maronish-purple fuzzy case!
it is Lady Liberty and the Eagle on the back.. the Eagle is what sells me on it, if I were to be honest about it all.
in Platinum it is the 2001 or 2002 1 oz.. with the Eagles in the swap (cypress tree's).. which if you ask me! makes it a Florida Platinum Coin! I am sure my fellow southerners would argue for thier respective Sates.
The new Proof Buffalo Boxes are nice though. they changed in 2010 to a darker red.
I have been eye balling the 5 9's maple.. but I really like my U.S. coins.. even if the blanks are provided by the perth mint in Australia! LULZ! which is against the law!
I am a coin nerd!
and all ya'll who have bars.. who in the fuck are you going to pay in bars? are you going to melt them down yourself.. deliverable to comex? who gives a fuck about comex?
I should have mentioned that ALL! the Plantinum 1 ozers with Eagles on the back go for a hefty premium.. in the open market.
and my second favorite coin is the reverse proof gold lady liberty circa 2006.
the 5 oz Libertads (proofs) are HAWT! as well!
Gold coins... dunno. Gold bars... let's just say when you see a pirate movie or whatever where you see somebody find a treasure and their eyes light up and they go gaga... ya. That's what happens when you hold some gold bars. I've only held 30oz, but I'm sure as weight goes up the feeling rises exponentially.
Possibly at schizophrenic Gollum levels.
My... precciioussssssssss....
meh I don't see what the big deal is.. you would actually think there would be a whole LOT more buying considering silver price has dropped so much. Silver not looking so shiny these days. Time for another juvenille silver bears video to explain how silver is going to skyrocket any day now.. really.
You do understand that is is only Jan. 10th? right??
and there are more than a few days left in the month..
lets hope (for your sake) that 12.9m oz's is NOT! the monthly number.
it is nothing to make a big deal about.. half of the 4.3m oz's went to me.
if not a lil more.. so it's not like there are a bunch of buyers..
it's jus lil ole' me, again.
Geez JW, what are you trying to do? Crash JP Morgan?
Keep up the good work then.
Silver (and gold) are two of the most manipulated markets in the world. Prices are whatever TPTB want them to be. That will continue until the final fiat collapse. Irrespective of that, it makes good sense to diversify and have 10% of your investments in physical gold and silver. And take delivery!
So what do we do when the "government" calls for confiscation?
Remember what the Second Amendment is for.
An unwise option! Its a numbers game an you, even with a few friends, don't have the numbers. Just open the door, smile, ask "is there a problem officer", (laughs). But most important remember these words "No problem office I'm always will to do my part. oh...the gold/silver. I'm sorry I cant recall whether I sold that".
Works better if your old... or infront of a hearing on the hill.
Silver continues on its 10 year bull run with most other commodities. But, it has a horrible chart, so you may want to wait until it clears the 50 DMA and forms a more stable base. Really as of now silver is still in the collapse phase from its parabolic spike to 50 from last year. Is it manipulated by traders turning over a years worth of physical production in a few days of futures trading? You betcha. Use the paper suppression of gold and silver to your advantage and cost average in. $30 is a fair price. Remember silver often trades more as an industrial metal, and up until a few days ago the world economy looked like shit.
The industrial demand is what physical buyers have going for them. People can short paper all they want due to highly leveraged ETFs, but if....if industry begins to lack silver, the tech won't matter.
Why are JPM, GS and a few other investment firms buying tons of silver, copper, etc, oil and storing the physical commodities? There is more here then the small eyeball can see.
For example, why did Barry release 60 mill barrels of "emergency" oil (after the price had already dropped) ...half of which (30 mil barrels) he handed to JPM? Why does JPM need 30 mil barrels of physcial oil? Physical copper? Physical silver?......and so on?
Smells fishy to me.
To short
trav-nasty, how many negative clicks do you need in a day to get your jollies? Seems as though you get a high rate of return in the silver forums.
LOL. Trav, you certainly pulled the Troll plow today!
Long term: Silver, as well as other rare(er) metals have a very good future up until (a) alternatives are produced that permanently alter demand, and (b) if no alternatives, then items made with them could be very valuable indeed. No shortage of humans on the planet; and we will run out at some point. Whether gold or silver owners get riche against the powers-that-own-damn-near-everything-already - in the short term - who the hell knows?
FlyPaper: No shortage of humans on the planet;
It can be dangerous to assume that because today there are 7b people that there will be 7b people in the future. Tomorrow fare enough but 5 years from now maybe not.
Ive been collecting silver, but its slow going without paying spot at a coin dealer/exchange. My question is; recycling dimes ect. is going slow but effective. I was advised to filter half dollars, What may I ask, would be the best source to find circulated half dollars.. a riverboat casino..? (smile) I know it sounds rediculous but I am non-plussed as to why banks ect, dont keep them available because theres no call for them. ~Any advise would be greatly appreciated. good luck to all.
You know you used to be able to go to your bank and ask them to order whatever you want from the Fed. .50 pieces, $1 coins, about 3-4 years ago my branch of WaMu was even able to order me PRE 1921 Morgans from the Fed at face, when I asked the manager he practically begged me not to tell everyone he was able to do this, so I didn't and every 30-60 days he placed an order for me, yes for $1 each, limit 250, although he did need me to fill out some form each time to keep a record, but so what, they haven't been able to do it since they became Chase (can't or won't???)
Last couple years - bought Silver for avg $28, held till it eventually hit $46, sold all. Rebought $35 & $28, 30% of family wealth now invested in the phys shiny metal. So obviously I'm hoping for a rise.
Thing is, there are no real fundamentals to the silver price, this minor buying of coins is total sideshow. For example ELD.TO (junior primary silver miner) alone produced 1.1million oz Ag last year and they're one of MANY out there.
Every old mine known to man is being reopened as the price of Au/Ag skyrocket and even the crappiest resource becomes viable.
Point is - as the price goes up more of the stuff is coming on the market and more crap mines are being reopened. Silver price is driven mostly by investor demand. Put two and two together...
However, I still see it likely to hit $45 - $55 this year but certainly silver is not the magic investment some here seem to think it is.
Biocide use of silver doubles annually, due mostly for use in colloidal silver.
Considering plays to short vaccines vs long silver.
For those who are not worried about either SLV or GLD going away with all the metal, and I truly am not, an interesting way to play either metal now is with LEAPS, looking at GLD ($159.65) buying a Jan 2013 call, strike price $100 will cost $61.20 so only $1.50 premium, and SLV ($29.14) a Jan 2014 call, strike $15 costs $15.40, a $1.35 premium, so if you believe the metals will go higher this is much cheaper (half) than buying and Storing physical and the premium MAY actually be less than buying physical at spot + the premium. Also 100% liquidity, probably worth a look. PLEASE don't post all the "facts" about the ETF's being a scam, not holding all the physical, etc. I know them all and personally I choose not to worry about them, that's just me.
OK, I'm new here with my first post. (Been lurking for many months) Seems to be a VERY spirited group!
Serious question: to be adequately diversified, what % of a persons savings should be dedicated to precious metals if said person had $1,000,000 in savings AND, already owned income-producing rental property. (Meaning: did not need to diverify into real estate anymore)
Looking forward to all comments.
That's my thoughts on the subject. You already have income land so even if 30% loses (the above listed amounts), you will still be good.
Luck to your preparations.
To SilverRhino: Thanks. I made my first purchase and now stand at:
5% gold (all US coins)
1% silver (split between US & Canadian coins)
I took delivery so I'm in possesion.
More purchases to come