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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 06/19/2010 : 08:47:46
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The more solid no holds bar perspectives like this that are brought forward, the more the regular folk will slowly turn to solid assets.
My gut tells me we are at the beginning of the hysteria stage! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 06/19/2010 : 09:52:48
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These organizations are shorting gold/silver the most, so why would anyone trust them with the storage of gold and silver? They have the most to gain by flooding the market with worthless "shares" of empty vaults.
I'm sticking to more reliable/trustworthy ETFs for retirement - e.g. PHYS, CEF, GTU. |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
 Posted - 06/20/2010 : 10:22:09
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I hold my physical bullion long term, no trading. But I do trade paper for profits, but only use AGQ and DGP which are both doubles that depend on derivatives for pricing. I know these are paper... as they were never meant to purport that they hold metals  one thing is true though... whatever money funnels into "paper" entities is drawn away from buying physical, and thus helping to deplete existing inventories.  Maybe that was their original intent in creating these ETF's?  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 06/20/2010 : 10:29:08
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quote:
Originally posted by brian0918
These organizations are shorting gold/silver the most, so why would anyone trust them with the storage of gold and silver? They have the most to gain by flooding the market with worthless "shares" of empty vaults.
I'm sticking to more reliable/trustworthy ETFs for retirement - e.g. PHYS, CEF, GTU.
PHYS and CEF I knew about... hadn't heard about GTU but read up on it. All three seem reliable, although GTU is comparitively tiny. It's been around since 2003, but still has less than 145 400oz bars in it's inventory (about 58,000 oz). They will be buying $280,000,000 more worth of gold sometime after 6/23/10 |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/20/2010 : 11:03:30
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| I really don't see a whole lot of difference in any of these for the average investor. While GLD and SLV may not have the requisite PMs in storage, they are never going to admit that they don't. PHYS and CEF trade like closed-end funds with a high 10+% premium over spot. While they may have the goods, the average investor is not going to have enough stock (50000 shares?) to buy a unit to get the physical metal. In essence, they are all paper PMs; good for trading and skimming profits to buy real GOLD and real SILVER. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 06/20/2010 : 17:33:51
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quote:
Originally posted by Country
I really don't see a whole lot of difference in any of these for the average investor. While GLD and SLV may not have the requisite PMs in storage, they are never going to admit that they don't. PHYS and CEF trade like closed-end funds with a high 10+% premium over spot. While they may have the goods, the average investor is not going to have enough stock (50000 shares?) to buy a unit to get the physical metal. In essence, they are all paper PMs; good for trading and skimming profits to buy real GOLD and real SILVER.
And that's what I periodically do... when the market looks shaky and cash would be better on the sidelines, I sweep perhaps half of the profits (once a year or so) and buy more physical  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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GLD and SLV nothing but empty Shams?
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