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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
 Posted - 04/01/2007 : 01:07:53
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Reuters(India)
John Barthole, New Delhi - Off-market silver prices across Asia and the middle east collapsed spectacularly this weekend. Fear of a wide-spread global conflict erupted after Al Jezera reported that Iran had executed 3 captive British naval officers. Pawn brokers from Istanbul to Karachi reported massive lines of panicked sellers with everything from gold and silver coins and watches to, in one case, a solid silver bathtub.
Rajeeve Sanjay, and analyst with KRE Fundbrokers in Peshawar, provides wholesale supplies for numerous jewelers across India. "I have pawn brokers calling me left and right," he said "everyone is trying to secure payment now before the markets re-open on Monday."
In addition, a massive after-market sell off in New York early Saturday morning of millions of shares in the iShares Silver ETF by at least seven different state employee pension funds indicates an overall negative outlook for the white metal.
Silver's woes are further compounded following the rather understated announcement on Thursday by the United States Office of Strategic Surplus that it would be bringing some four hundred million ounces of surplus silver to market over the next four years, nearly ten times the regular amount for the past ten years.
Full story:
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________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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Edited by - Canadian_Nickle on 04/01/2007 01:09:28 |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 04/01/2007 : 09:33:24
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Link to full story not working - I'll try again later.
Wow - I thought that everyone is supposed to run to safe haven of gold/silver when world tensions are on the rise? That was one of my primary motivations to be in precious metals/base metals.
If SHTF in the middle east, should drive up oil prices big time, and there is a link between oil and gold/silver.
I need to do some research on that report by the United States Office of Strategic Surplus.....400 MOZ is a bunch of silver.....a lot of experts have estimated entire World above ground supply of silver at about 1000 MOZ.....100 MOZ/yr sold into the market, will not juyst stop the price climb of silver, but would probably drive it down pretty sharply. I think silver is just about at supply = industrial demand these days (was in a annual deficit for the past 20 years...).
Interesting information ....keep it flowing.
40 year old guy trying to look out for my family. My great country is headed for the dumpster....and worst yet, no one knows/cares it is happening..... |
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n/a
deleted
479 Posts |
Posted - 04/01/2007 : 09:43:45
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Thank you for releying this information!
However, I'm skeptical of its veracity.
If the media starts telling me to sell my Silver, I'm gonna buy.
Those guys lie about everything else!
Don't do anything rash!!!!!
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I think Norman Livergood's Essay, "Dollar Imperialism" is the best summary out there.
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n/a
deleted
479 Posts |
Posted - 04/01/2007 : 10:08:55
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Where did you get this information?
The Reuters site says, PAGE NOT FOUND.
When I try searching for specific parts of the text you pasted in here, I find nothing.
It sure looks like a scam to me!
It makes me want to buy silver.
My guess is that the Federal Reserve Learned over the weekend that the dollar is crashing so they put out a scare against silver as a subterfuge.
I'm not buying it.
It looks like classic Cointelpro / mis information / disinformation to me.
Right down to the Silver bathtub meme, it sticks of lies and lying liars.
However, as always, thank you for bringing information here to share with us.
Even "reverse" information is information. It just reqwires interpretation.
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I think Norman Livergood's Essay, "Dollar Imperialism" is the best summary out there.
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Edited by - n/a on 04/01/2007 10:10:55 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/01/2007 : 11:19:11
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Damn, I want that silver bathtub. Shipping would be a bitch, though. Too bad this whole thing is just an April Fools joke.
Good one, Atheist.. you gave me a chuckle.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu659700:US5Ni20560 |
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n/a
deleted
479 Posts |
Posted - 04/01/2007 : 11:44:00
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I don't get it,
am I a fool?
thnaks for the chuckle
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I think Norman Livergood's Essay, "Dollar Imperialism" is the best summary out there.
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 04/01/2007 : 16:38:42
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April fool, bitches.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 04/01/2007 : 19:34:27
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Nice one .....you got me pretty good...was googling my butt off this morning to find any information on that US Department.....C.N. - you are a real wanker!
40 year old guy trying to look out for my family. My great country is headed for the dumpster....and worst yet, no one knows/cares it is happening..... |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
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Silver Crash!
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