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Copper Catcher
Administrator
USA
2092 Posts |
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fb101
Administrator
USA
2856 Posts |
Posted - 08/29/2008 : 18:43:36
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| Interesting article, and it does explain the current situation. (Undecided me...) |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 08/30/2008 : 07:27:03
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| Normally I’m am not in the camp of those who are “conspiracy theorist” but it makes absolute no sense, to me at least, why precious metal prices are so low with the economy and all the unrest in the world today! Something is going on!!!!! |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 08/30/2008 : 17:29:01
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Another article on this subject, a bit rambling, and poorly written in some areas, but informative nonetheless:
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Interesting aside, he mentions that JPMorgan is "exempt" from reporting it's financials to the gov due to "national security reasons"..... That begs further inquiry. |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/30/2008 : 20:34:47
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More views on the silver shortage-
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Monday, August 18, 2008
Silver Shortage Causes Price Disconnect
Here is more good info from Jason Hommel. I'm askin around and it's lookin like the little you and me guys are hoarding all the silver. Now I'm one all along who's been saying the elites are doing everything the way they want, and the appearance that they are out of control is part and parcel of the scam. But if they haven't cornered the silver, then they I can think of only two possibilities right now, 1) they miss calculated and lost control or 2) they intend to use a 1932 style confiscation scheme. If I had to bet I'd guess 1) because they only got an estimated 10% of the gold in the 1930s and would not want to do that again. This time they will do 2), but only to mop up what they can. In other words they're losing it, imagine that I'm actually happy to be wrong!
..........Turk says goldmoney is not yet having trouble finding large, 1000 oz. LBMA bars.
Here are several points to keep in mind about 1000 oz. bars:
First, there are position limits! This means there are silver shortages for the super rich, ever since the days of the Hunt Brothers in 1980. The limit is 1500 contracts in a given month; a limit of 7.5 million ounces.
I believe Turk is not noticing any shortage, because he has never needed to order more than that in a given month.
Second, just because people own bars, or that bars are listed in inventory at the NYMEX exchange, does not mean they are available for purchase at today's prices! The total ounces at the NYMEX seem to remain at about 130 million ounces. That's not just "unwanted" silver; it's owned by funds, speculators and investors, who may actually understand silver, who might not be willing to let it go except at much higher prices, especially as they come to understand the facts about the shortage of silver.
Third, David at Wexford Coin notes that he's "not a fan of 1000 oz. bars for the average client since shipping them back to distributors is a nightmare if the bar packs higher than 75 pounds in a Flat Rate Priority Mail box using Registered Mail. Just about the only method for retail customer to ship WITH INSURANCE unless they have such a large quantity that distributor will arrange a carrier pickup at a business address." Wexford, one of my favorite and most trusted and highly recommended dealers, now has a minimum order size of $10,000.
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David at Wexford is extremely busy with buyers, and emails me to say he cannot return all of his phone messages.
But there is a shortage of 100 oz. bars!
Producing more 100 oz. bars should be easy. They can pour 100 oz. bars nearly as easily as 1000 oz. bars. I know for a fact that the machines to make them are not running at capacity!
Why is it that people think that pouring silver bars is a difficult or skillful or time consuming activity? Men have been pouring silver bars since Biblical times.
There is, indeed, a "production bottleneck".
But that's happening because demand has greatly increased, and years of old supply has run out!
....The honest dealers sell only what they have. If they don't have it, they don't sell it. Tulving, CNI, Wexford, Miles Franklin, etc.
Many major dealers are reporting no silver in "the dealer network". If I'm hearing lies, prove it. People who say there is no shortage should put up, or shut up. Sell it to Tulving, Franklin Sanders, Miles Franklin, etc., they will buy your silver.
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Other dealers will take your order now, for inventory that will take 8-10 weeks to deliver.
Who has such crazy policies as that? Perth, Kitco, Northwest Territorial Mint, Johnson Matthey, and others. You should avoid them, in my opinion.
And if you have to wait 30-60-90 days for silver from any seller, it means they are selling what they do not have, and hope to get it from someone else that does not have it today either! That means they are short, (they owe you silver) that they do not have!
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Friday, August 15, 2008
Trade Update: SLV
.........What the Silver Shortages Mean!
My guy in Rocklin is out. Amark is out. Mish in Menlo Park is out. Klaus in Denver is out. All those guys cannot find silver to buy from any other major dealer, and they are all very well connected in the industry.
APMEX.com is sold out of most forms of silver, but still has some Silver Maples left, I just ordered some this evening:
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CNI is out of 100 oz. bars and Eagles, but has other forms of silver.
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David Bond notes that when silver hit $21/oz. about 5 months ago, the excuse was that the dealers were out because silver hit new highs, and the public was buying, not selling. Now, since silver has hit new lows, the public is still buying and not selling.
For 5 months now, nobody has had 100 ounce silver bars in quantity, over 100 of them, available for immediate delivery. Well, that's not true, there have been reports here and there of one such lot, on occasion. A mere 10,000 oz. has popped up from time to time. Once at tulving, once at CNI. They are both out now.
But for the most part, for most of the last 5 months, if you wanted 100 oz. silver bars, the wait would be 8-10 weeks from Johnson Matthey or NWT Mint, the only two places that make them anymore.
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Disconnect Between Supply and Demand
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