Jump to content

Recommended Posts

more & more info on the possibility on shortage of physical silver:

 

The Bank of Nova Scotia in their year end filings show a monstrous negative to its position on silver and gold:

 

 

 

"from Adrian Douglas of Lemetropolecafe.com:

 

 

 

I wouldn't mind betting that Scotiabank doesn't like the attention that it got courtesy of GATA that they didn't have Harvey Organ's silver in 2008 that they were supposed to be storing. Just for the record if anyone doubts the Harvey Organ anecdotal evidence here is some compelling evidence on the precious metals predicament of Scotiabank in 2008 from their very own accounting:

 

BANK OF NOVA SCOTIA ANNUAL REPORT

 

http://scotiabank.com/images/en/file...otia/19578.pdf

 

Here is an extract from the Bank of Nova Scotia 2009 Annual report. Liabilities for gold and silver certificates 5.619B$ and Precious Metal assets 2.426B$.in other words naked short 3.18B$ by their own accounting! The price of precious metals would be very different if this 3.2 B$ of customer money paid to them for buying PM's had actually gone to making real purchases of physical metal. They were 1.94 B$ net short of PM's in 2007 also."

 

 

 

Here another good link:

 

http://harveyorgan.blogspot.com/2010/09/se...commentary.html

 

if you scrol down past the charts'n'stuff, you will come across this:

 

"Adrian Douglas reports:

 

 

From what I hear the premiums over spot for immediate delivery in the London market have increased dramatically such that some buyers are motivated to buy on Comex which allows buying without paying a premium. It will be interesting if the shorts can deliver silver to them because these are not speculators playing for cash gains; these are serious bullion buyers. The OI together with the issued delivery notices indicate the potential amount standing for delivery could be 13.5 Mozs or 25% of the dealer inventory.

 

In gold, we are also hearing the same story."

 

 

Share this post


Link to post
Share on other sites

This is an extremely interesting read, lot's of anecdotal, so if you tend not to like anecdotal then don't read it.

 

https://www.kitcomm.com/showthread.php?t=67211

 

It follows on from some of those recent vids I posted.

 

Daystar's comment (3rd post) is very interesting & also post number 7 imo. You need to be well read in the right areas to understand this though. Enron style accounting was all lost in building number 7 you know, handy that. I wonder how they will lose the paper trail this time ?? ;)

Share this post


Link to post
Share on other sites
But maybe people who cant afford to buy gold would do well to ride the silver speculation ticket?

 

Personally I think both are necessary. I'm not so certain of the order of buying. One is at record highs the other is 50% below record highs. If I had nothing I would be inclined to go for silver first in this case. But that's just me and the psychology of shopping. :lol:

Another thought rh, is that the poor man could leak one or two ounces of silver for income if times were so bad, and still have plenty left over. If he leaked his gold it would be a waste, IMO. I would recommend buying the ratio, 60:1 or 30 silver to half ounce gold or 15 silver etc... depending on your circumstances. I would hold on to the gold and be prepared to drip the silver if necessary...or switch it to gold if the opportunity arose.

 

Reminds me of the Lira exmple of the guy in the desert needing water and sellling his family heirloom. Sure gold is the queen and silver is the pawn in this relationship (after everything else has gone). Staying out of checkmate would be paramount.

Share this post


Link to post
Share on other sites
This is an extremely interesting read, lot's of anecdotal, so if you tend not to like anecdotal then don't read it.

 

https://www.kitcomm.com/showthread.php?t=67211

 

It follows on from some of those recent vids I posted.

 

Daystar's comment (3rd post) is very interesting & also post number 7 imo. You need to be well read in the right areas to understand this though. Enron style accounting was all lost in building number 7 you know, handy that. I wonder how they will lose the paper trail this time ?? ;)

 

FROM Grumpys link:

Arcturus Arcturus is offline

Member

 

Join Date: Jan 2010

Posts: 144

 

And why did wilie have to bring up bldg. 7? Does he think JPM staged the whole 911 tragedy to hide gold and silver manipulation? IMO he lost a lot of credibility with a lot of people there.

 

 

There was also an office destroyed in the pen-tagon that related to precious metals... its on Reinhardts site, (Down at the moment)

Share this post


Link to post
Share on other sites
By having a decent position in US dollars one can take advantage of deleveraging when it occurs. Because of a deflationary dynamic, the dollar will strengthen when markets tank. That will be the time to buy silver. In the short/ medium term, dollars are worth holding for trade.

Are you feeling nervous about your deflation outlook let? In the FOMC meeting they have stated that inflation is still not high enough for there liking and they are going to use all methods to create more. The dollar tanks and gold and silver take off.

 

How long do you wait to be able to buy your silver cheaper with your less valuable dollars? Just face it they will not allow deflation, they will print until they have created enough inflation to erode their debt away.

 

The deleveraging that you are waiting for occurred already in '08, the train is leaving the station.

 

Share this post


Link to post
Share on other sites
Are you feeling nervous about your deflation outlook let? In the FOMC meeting they have stated that inflation is still not high enough for there liking and they are going to use all methods to create more. The dollar tanks and gold and silver take off.

 

How long do you wait to be able to buy your silver cheaper with your less valuable dollars? Just face it they will not allow deflation, they will print until they have created enough inflation to erode their debt away.

 

The deleveraging that you are waiting for occurred already in '08, the train is leaving the station.

Nope, I'm completely relaxed. :)

 

Half suspected I'd get the dollar/ silver trade wrong. As you'd expect in this "perverse" market [i like that term] where the short term moves can go either way. Just as well I only used my pocket money on this one. ;)You view mining shares as speculative. Well, I put silver in the same league as mining shares.

 

Silver looks to have broken out into another range, yet I still think it will remain volatile to the downside at times. I'd consider buying on the dip.... who knows, it may even get down to 17.90 odd.

 

I wrote this on silver when I first started looking at it as a trade in order to balance out/ hedge a large core holding in gold:

 

http://www.greenenergyinvestors.com/index....st&p=161244

All that's shiny is not gold, and exited my silver trade at 17.90. I find it an easy trade to make - psychologically speaking - as am also bullish on the dollar, for the next couple of years anyway. And silver I think will remain super volatile against the dollar. Also making this trade easier, is that I can consider it a hedge [dollar proxy] against my rather large buy and hold approach to gold.

 

If I get this speculative trade wrong and silver does break out to the next level, the chances are that it will still remain volatile and likely dip at some point to where I exited, thus enabling me to get back on board. I think this is quite unlikely though, and think silver will remain in the range seen this year. Being both a gold and dollar bull gives you quite a different perspective on silver. ... though I'm also long term bullish silver.

 

Though the profit on trading unleveraged silver/dollar may not be huge, it is still significant when you consider it doesn't involve buying a risky asset or losing your "liquidity preference".

 

Yet to buy VXX, but am now thinking of buying with less at a later and lower price if it comes.

Share this post


Link to post
Share on other sites
....... In the FOMC meeting they have stated that inflation is still not high enough for there liking and they are going to use all methods to create more. The dollar tanks and gold and silver take off.

Some slight exaggeration there. :lol:

 

I posted an article on Japan earlier today..... just to put things in perspective:

 

http://www.greenenergyinvestors.com/index....st&p=184576

Share this post


Link to post
Share on other sites
Nope, I'm completely relaxed. :)

 

Half suspected I'd get the dollar/ silver trade wrong. As you'd expect in this "perverse" market [i like that term] where the short term moves can go either way.

The markets are perverse because of all the manipulation & QE by the central banks. That is also why silver could well completely surprise you to the upside.

Share this post


Link to post
Share on other sites
The markets are perverse because of all the manipulation & QE by the central banks. That is also why silver could well completely surprise you to the upside.

Actually, I take "perverse" to mean that it will continue to surprise everyone... in the short term....whatever you think the fundamentals are.

Share this post


Link to post
Share on other sites
But maybe people who cant afford to buy gold would do well to ride the silver speculation ticket?

 

Personally I think both are necessary. I'm not so certain of the order of buying. One is at record highs the other is 50% below record highs. If I had nothing I would be inclined to go for silver first in this case. But that's just me and the psychology of shopping. :lol:

True, but I and a few others find this part of the Au Ag comparison troubling. Silver spent less than 1 year over $20 and only 3 months over $25. The silver market in 1980 was peculiar. What would silver have done without the Hunts? It's difficult to know.

 

SI1980.gif

Share this post


Link to post
Share on other sites
What would silver have done without the Hunts? It's difficult to know.

 

SI1980.gif

Maybe we're about to find out? Up or down, I still like silver (as well as gold).

Share this post


Link to post
Share on other sites
True, but I and a few others find this part of the Au Ag comparison troubling. Silver spent less than 1 year over $20 and only 3 months over $25. The silver market in 1980 was peculiar. What would silver have done without the Hunts? It's difficult to know.

 

SI1980.gif

I'm troubled by comparisons with the gold spike as well as the silver one. Unless gold is spiking at the moment, which I think is unlikely, you could ignore the 1980 spike, take the high to be about $550 and then compare silver with no spike.

 

Gold now: 1290

Gold then: 550

 

Silver now: 21

Silver then: 10-15 ish, maybe

 

So gold is a higher multiple of its old "high" than silver is.

Share this post


Link to post
Share on other sites
True, but I and a few others find this part of the Au Ag comparison troubling. Silver spent less than 1 year over $20 ...

Fair enough. But this alone is very bullish for silver. What today could you buy for 1 consecutive year at its 1980 price?

Share this post


Link to post
Share on other sites
Fair enough. But this alone is very bullish for silver. What today could you buy for 1 consecutive year at its 1980 price?

Silver has been sold at a massive discount for the last few years. It is a metal that is running out and has been heavily sold short by certain bullion banks. People will start to realise quite soon how cheap it has been.

 

I think it will reach $30 by Christmas, so even though it is over $20 currently it is still being sold at bargain prices. I think we are rapidly approaching a time when we see a massive short squeeze, look at the last two options expiries. We have seen the price close higher into both, which must mean a lot of physical silver is being called for and the bullion banks are going to find that supply very hard to deliver.

 

DrBubb was talking about how there is a silver surplus, after hearing Tom O'Brien talking about it. But all I see is lots of buying of physical silver and prices increasing which doesn't show a surplus. Those in the know seem to be buying not selling.

 

BNP Paribas Buys Physical Silver At $20.58

 

News like that would be totally unimaginable even few weeks ago, when price of silver looked ready to go below $17.

 

But with new buyers of PHYSICAL silver entering this – less than $12 billion market, it’s no wonder why price of silver jumped so high in such short time.

 

It all started on August 24th 2010 with big German conglomerate buying huge amounts of physical silver and now also BNP Paribas (with headquarters in Paris), joined this rush to get physical silver as soon as possible.

.

What’s the actual deal that BNP Paribas just made?

 

BNP Paribas has agreed to pay $20.58 an ounce for 680,000 ounces of the white metal to be delivered from December through to June 2012.

The deal is with Jabiru Metals which will bank $14 million upfront under the hedging deal, money it can well use to speed its mine development program. The 680,000oz is 60 per cent of its forecast silver production over the period of the BNP deal.

 

If this deal would be done by a small bank, this wouldn’t even be such a big news.

Share this post


Link to post
Share on other sites

Wake me up when it goes below 50.. I might start thinking about selling some at G/S=40.

 

http://noir.bloomberg.com/apps/news?pid=20...6RhZg&pos=5

Gold-Silver Ratio Drops Below 60 for First Time in 11 Months

By Glenys Sim

 

Sept. 29 (Bloomberg) -- The ratio of gold to silver dropped below 60 for the first time in 11 months as investors sought a protection of wealth in the white metal, which may also benefit from economic growth.

 

An ounce of gold bought as little as* 59.9737 ounces of silver today, the lowest amount since Oct. 23. Silver has outperformed the yellow metal since the end of June, gaining 17 percent compared with gold’s 5.4 percent climb, as investors bought the white metal because of its relative cheapness.

 

“Silver is trying to catch up with gold,” said Ellison Chu, precious metals manager at Standard Bank Asia Ltd. “Gold is already at a record but silver is quite far from it.”

 

* :D

 

Share this post


Link to post
Share on other sites
You wanna tell an insurance company you have some at home?? :D

GL.

 

Just check the insurance plicy wording for valuables or high risk items definitions then total up what you have got and you will know if you are covered or not.

 

BTW coin collectors are not so unusual. Do you not think that there are people out there with literally £100K worth +++ of jewellery in a normal house who deal with insurance companies and make full disclosures of what they have etc.?

Share this post


Link to post
Share on other sites
Just check the insurance plicy wording for valuables or high risk items definitions then total up what you have got and you will know if you are covered or not.

 

BTW coin collectors are not so unusual. Do you not think that there are people out there with literally £100K worth +++ of jewellery in a normal house who deal with insurance companies and make full disclosures of what they have etc.?

Specifying explicitly that you have 100k worth of gold / silver / jewellry at home on a policy is marking you out. As people become more desperate, mean and frightened this will become more and more of a risk IMO. I mean people who turned up at this guy's house knew what they were after.

http://www.bbc.co.uk/crimewatch/appeals/20...oin_theft.shtml

QUOTE: "Someone knew I had these coins. That I kept them here".

 

As an aside, I have noticed as an anecdotal that people on the streets/ in pubs / shops etc. are becoming more mean and selfish, less friendly and polite - even over the last month or so. I see this as a sign that times are getting hard for joe public. It can only get worse.

Share this post


Link to post
Share on other sites
silver ends on £14 an ounce, £450 a kilo. Nice...

 

 

Nice indeed 1 kilos on ebay are going at an avg of about £565 as are some of the dealers. ASEs at £19+ krugs at £900+ everytime i need cheering up I just log onto ebay and look at current prices...never fails

Share this post


Link to post
Share on other sites
Nice indeed 1 kilos on ebay are going at an avg of about £565 as are some of the dealers. ASEs at £19+ krugs at £900+ everytime i need cheering up I just log onto ebay and look at current prices...never fails

 

I look at increasing gold/silver price with increasing dread. The end game is coming, it will also end our way of life. I feel glad to own some PM, but the consequences are going to be disastrous.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×