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kieblera5
Penny Hoarding Member
USA
859 Posts |
 Posted - 09/03/2008 : 11:32:08
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You must be logged in to see this link.
Found this article very interesting. The comments/stories at the bottom show how many people are having a hard time getting silver.
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Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/03/2008 : 13:55:20
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Interesting article...
Also interesting that some shops have no silver, others seem to have plenty...so at this point there is a shortage, but not a complete shortage...also--silver is still available online in quantity, APMEX, Tulving, etc...the premium is just higher than it was when silver spot was around $20... |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 09/03/2008 : 14:23:54
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"The silver market is broken. COMEX broke it. The CFTC broke it. The Federal Reserve broke it. The paper dollar broke it. Hedged refineries and dealers broke it. The broken trust broke it. Lack of knowledge about usury and promises not being the same as real silver broke it."
-Quote from article-
Very well spoken.
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Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/03/2008 : 15:27:50
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quote:
Originally posted by kavajava
Interesting article...
Also interesting that some shops have no silver, others seem to have plenty...so at this point there is a shortage, but not a complete shortage...also--silver is still available online in quantity, APMEX, Tulving, etc...the premium is just higher than it was when silver spot was around $20...
I think that what has happened is that that public source of silver rounds has dried up while the large dealers are still able to place orders direct to the mints.
In my twisted mind:
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 09/03/2008 : 16:16:46
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To add more gasoline to the fire-
You must be logged in to see this link.
Does the CFTC care about manipulation?
....Third paragraph down-
Our Market Surveillance Section has a staff of 48 people, 24 of whom aretrained economists whose sole purpose is to monitor all of the markets we oversee in order to detect and deter manipulation.
A staff of 48, only 48, just a measily 48 people to keep an eye on what is going on in the world of commodities.
Half of this 48 are economists to keep an eye on what is going on in the realm of commodities. 24 who are Not inspectors on the trading floor, 24 who are not obtaining search warrants to seach the big banks or traders, but 24 who are economists who are using economic models to determine if there is any funny business going on (economists much like the economists the NAR uses to figure out what the price of a house should be. Of course the NAR economists used economic models that worked perfectly-until they didn't.)
Figure 24 of the 48 are economists, figure how the government staffs its typical department (i.e. Two or three big bosses, two secretaries for each big boss, 1 or 2 mail clerks, 1 mail clerk supervisor 1 or 2 file clerks, 1 file clerk supervisor, etc.) and whom does the CFTC really have to investigate possible fraud?
(I sent this information to the Mogambo Guru first so don't bother sending it to him.) |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 09/03/2008 : 16:17:37
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Ted Butler, again, has a pretty good explanation of what's happening with the silver market.
Makes me think the SWHTF sooner than later!
You must be logged in to see this link. |
There's profit if you melt things!!
8{> |
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fb101
Administrator
USA
2856 Posts |
Posted - 09/03/2008 : 16:30:26
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I read the Butler story. Here's MY take. Even if they spot this manipulation, they'll do nothing because it provides a padding for the insolvency of banks. A lot of cash to bolster a sagging bank OR a little leverage to use when trying to convince a solvent bank to take on the problems of ailing bank(s).
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deleted
25 Posts |
Posted - 09/04/2008 : 10:50:11
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Silver is out there its just not available and the spot price. Ive had to pay 4.25 over for some 10 oz bars. Never thought I would be able to sell them at 4.50 over. Now im about out.
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When the government fears the people, there is liberty. When the people fear the government, there is tyranny. |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/04/2008 : 12:10:18
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Thanks casperscoins--ANY and ALL insight you can continue to give us as an actual dealer is very helpful and appreciated--keep it coming...
That's a pretty good premium for 10 oz bars...shows the complete disconnect between physical and paper... |
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TexasPQ
Penny Sorter Member
47 Posts |
Posted - 09/05/2008 : 00:33:21
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Pencilvanian, I feel obliged to respond to the post where you write:
"figure how the government staffs its typical department (i.e. Two or three big bosses, two secretaries for each big boss, 1 or 2 mail clerks, 1 mail clerk supervisor 1 or 2 file clerks, 1 file clerk supervisor, etc.)"
I see your point, and you’re on to something, but it’s a little different that this. At the agency I’m familiar with (not the CFTC), we’ve got about fifty employees. Six managers, one payroll/HR/secretary person, a handful of technical staff and 40 something line workers. There are ZERO mail clerks and ZERO filing clerks.
The volume of incoming mail and files we process would easily justify two clerks. But there are no clerks anymore. Now we just stumble along without them; we’ve got highly paid managers and technical workers spending 10 to 25% of their day sorting and distributing mail because there’s no one else to do it. A misallocation of human resources? Sure is.
I suspect the biggest problem at the CFTC is a lack of WILL from the top brass. But say we could get past that. Would this agency even have the ability to do its mission under current staffing levels? I doubt it. |
Edited by - TexasPQ on 09/05/2008 00:38:56 |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/10/2008 : 11:43:49
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| casperscoins: how are things looking now that silver has dropped below $11? |
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deleted
25 Posts |
Posted - 10/01/2008 : 20:27:07
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| The disconnect is even larger now. I can not buy 100oz bars for any where near 2.00 over spot these used to be the cheapest form of silver. No one is selling not your small local investors or the big clearing houses. NO ONE HAS SILVER!! I am still getting about 8 calls a day for people looking to buy silver. The same thing is happening to gold. If your looking to invest now is the time spot price may not be going up but the premium for PM moves Daily. I have never seen anything like this. |
When the government fears the people, there is liberty. When the people fear the government, there is tyranny. |
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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
Posted - 10/01/2008 : 22:26:10
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| Interesting article. |
I enjoy taking long walks off short piers. |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 10/02/2008 : 02:11:50
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quote:
Originally posted by casperscoins
The disconnect is even larger now. I can not buy 100oz bars for any where near 2.00 over spot these used to be the cheapest form of silver. No one is selling not your small local investors or the big clearing houses. NO ONE HAS SILVER!! I am still getting about 8 calls a day for people looking to buy silver. The same thing is happening to gold. If your looking to invest now is the time spot price may not be going up but the premium for PM moves Daily. I have never seen anything like this.
Thanks for the info--always good to get insight from someone in the business! |
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n/a
deleted
146 Posts |
Posted - 10/02/2008 : 07:54:45
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quote:
Originally posted by horgad
I think that what has happened is that that public source of silver rounds has dried up while the large dealers are still able to place orders direct to the mints.
In my twisted mind:
From what horgad has drawn and from what casperscoins is saying:
quote:
Originally posted by casperscoins
Silver is out there its just not available and the spot price.
I think that the little dealers got hosed with the very volatile price moves in the last couple of months.
When silver was in the neighborhood of $20.00 an ounce I'll bet people were falling all over themselves to sell to their little local coin dealer or pawn shop. Little guys paid quite the premium to stock up on their inventories to resell. Now that the price is $12 or so those little guys are not going to take that kind of loss hence the hefty premiums over spot.
By the way a little bank near me has 2007 and 2008 American Silver Eagles at $38.68 each   . I didn't check to see if those are proof coins but still that is ridiculously high if you're just talking about the metal value in them. |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 10/02/2008 : 09:20:14
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| Can we only hope that they drop silver below $10/ounce ? It seems paradoxical in light of market turmoil that the metal is losing ground. Maybe if it gets below $10, it could bought at around $13/ounce with the premium added on? Getting ASEs at $13 each for cash at a local dealer would be welcomed at this point. |
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