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Survival and Preparations Long and short term survival and 'prepping'.

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  #81  
Old 04-21-2013, 4:31 PM
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So why is a 1oz silver eagle coin $68??

Shouldn't be around $30?

Just started looking at buying some of these.. not sure I "get it".. If you're buying PM then don't you want to buy coins that are just a couple of bucks over the spot price of the metal?

http://www.apmex.com/category/1659/....=041713Cat1659
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  #82  
Old 04-21-2013, 6:08 PM
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Originally Posted by Steve1968LS2 View Post
So why is a 1oz silver eagle coin $68??

Shouldn't be around $30?

Just started looking at buying some of these.. not sure I "get it".. If you're buying PM then don't you want to buy coins that are just a couple of bucks over the spot price of the metal?

http://www.apmex.com/category/1659/....=041713Cat1659
That is a coin that is supposedly more valuable as a collectors item than as bullion.

Looked over APMEX and they are sold out of circulated (i.e. used) American Silver Eagles. All that is left is the collector or numismatic ones.
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  #83  
Old 04-21-2013, 7:18 PM
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I notice that physical gold and silver eagles and maple leaf's are about sold out everywhere. So obviously there's a disconnect between physical PM's and paper PM's. I don't trust paper PM's since they are so overleveraged. Since the supply of physical PM's is so low, that tells me demand is incredibly high, and paper PM's are distorting the market.
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  #84  
Old 04-21-2013, 7:33 PM
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Im hope it keeps dropping so i can buy tons of it

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  #85  
Old 04-21-2013, 11:41 PM
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Im buying, Here is a good start

http://www.comparegoldprices.com/
https://www.comparesilverprices.com/

Been buying gold and silver for the last 10 years and have always made out good on these dips. Make it 10 to 15% of your portfolio and save it for a rainy day. It will go back up.
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  #86  
Old 04-23-2013, 12:51 AM
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Maybe I posted before, I can't remember, but premiums are sky high.
Paper silver is cheap, but physical silver jeez the rolls of silver dimes on ebay, the premium is ... value $82 and retail around $125 shipped and more...and I was paying around $135 in Dec. for the same thing when it was $32 an oz

Liberty coin at https://libertycpm.com/silver/ $200 for $10 worth of silver is a lot cheaper, but maybe there's something I don't know, which could easily be the case
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  #87  
Old 04-23-2013, 8:24 AM
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Liberty is good on the price. The only hurdle is inventory sometimes but they will do rain checks if they don't have stock.
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  #88  
Old 04-26-2013, 7:31 AM
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Back up to around 1480 and rising.

Bought my first ounce (AGE) at 1360 or so, paid about 1430 after premium & shipping.

Now, where's all that talk about it going down to 1200?
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  #89  
Old 04-26-2013, 1:04 PM
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"spot" and what someone is going to sell an ounce for are two very different things. Silver 'spot' prices have dropped quite a bit in the past month, the price of actually buying silver hasn't dropped anywhere near as much.

As to gold being worthless as some have posted here, that's about as intellect-laden as those 18 year old CEO's of over-valued dot-com companies that said "this time it's different"....right before the dot-com implosion.

Gold has been a valuable commodity for thousands of years, that's not going to change simply because of iPhones and hybrid cars.
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  #90  
Old 04-26-2013, 2:13 PM
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From what I am hearing PHYSICAL gold is somewhat easy to find, but PHYSICAL silver is very hard to find and even if you do it will cost $7-8 over spot.

We Are Witnessing UNPRECEDENTED Shortages Of Ammo, Physical Gold And Physical Silver All Over The United States

"The physical silver market is, in a word, ugly. There is no telling at this point when mint inventories will return to normal, but you can be sure it will not happen within the next 8 weeks. Most dealers, at this point, are selling their current customer demand forward, meaning they are selling product they do not presently have, expecting to pull from future mint allocations. Consequently, future allocations will face pressure from today’s demand."

The reason why the prices are going back up is that the paper futures being dumped on the market is not suppressing the demand for physical. When these futures come due, there won't be enough physical to cover the contracts and dealers will have to offer to pay out cash in exchange, if the contract holders accept that. It is sort of like that BCG company taking money for an inventory that may not even exist.

PM should be viewed primarily as wealth preservation and not an investment.
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  #91  
Old 04-26-2013, 11:05 PM
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Good to see this thread. My wife and I started buying when silver was at 33 and gold was at 1600, about 3 months ago. Being new to it, I researched for days before buying and everything said "BUY NOW". Nothing I read, stated it would fall this low. Kind of frustrated. We spent 700 on 1/10 gold and the rest silver. Now the lot is worth about around 600. Pissed. I guess I'll buy more then.
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  #92  
Old 04-27-2013, 7:32 AM
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Originally Posted by MindBeyondAverage View Post
Good to see this thread. My wife and I started buying when silver was at 33 and gold was at 1600, about 3 months ago. Being new to it, I researched for days before buying and everything said "BUY NOW". Nothing I read, stated it would fall this low. Kind of frustrated. We spent 700 on 1/10 gold and the rest silver. Now the lot is worth about around 600. Pissed. I guess I'll buy more then.
Please tell me you didn't expect to earn a profit in 3 months by investing in PM's...
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  #93  
Old 04-27-2013, 10:00 AM
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Please tell me you didn't expect to earn a profit in 3 months by investing in PM's...
This^

I always tell people to only buy what you're willing to lose. And gold/silver should NOT be viewed as an investment. It is a store of wealth in uncertain times. You should keep a minimum amount regardless of what's happening with all your other money.

Could gold drop back to $250/0z? Yes. Could silver drop back to $5/Oz? Yes.

It's not probable, but it's possible. Plan accordingly.

PM's should only be a small portion of a well balanced portfolio - traditionally around 5%. But in uncertain times you could bump that to 10%.
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  #94  
Old 04-28-2013, 1:37 AM
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Please tell me you didn't expect to earn a profit in 3 months by investing in PM's...
HAHA! No, not at all. We invested for two reasons. One, is that we know it would be easier to save money if we can't go out and easily spend it, although we are GREAT at saving money to begin with. Kind of an experiment in this sense. The other, is that we are intermediate preppers and invest in several things that can be used to barter. We will ultimately only have what we can carry. I don't plan to sell our PMs unless there is a financial emergency. I'm just shocked that it is dropping this low. There was a whole lot of, "Experts forecast a 30% price increase in silver, in 2013". Guess not, but doesn't matter anyway cause we aren't selling. We are just kind of trying all kinds of new stuff as far as prepping and investing goes. Still learning.
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  #95  
Old 04-28-2013, 3:51 AM
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You should have bought another equal $ amount last week. Averaging your two purchase prices together would put you even today. Buy some gold today if you have the cash.

Another thing that will cheer you up is taking a look at the 10 year price chart every day.
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  #96  
Old 04-28-2013, 11:13 PM
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You should have bought another equal $ amount last week. Averaging your two purchase prices together would put you even today. Buy some gold today if you have the cash.

Another thing that will cheer you up is taking a look at the 10 year price chart every day.
Pshhh, BROKE! Haha, that's funny cause I do do that. AND yes, it makes me feel better. But then again, I feel bad that I wasn't buying ten years ago. ARGH!
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  #97  
Old 04-29-2013, 7:06 PM
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Default Wait and see

Gold is going down to around 1,000 and silver below 20. JUST YOU WAIT. You heard it here.......
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  #98  
Old 05-03-2013, 10:50 PM
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Default check this place out for silver and gold

http://www.bluevaultsecure.com/

checked out blue vault the other day for silver and gold. some good prices on 10.00 ounce bars on the day i went it was 1.79 over spot. Also they can order in items to. Gold bars were 38.00 over spot

If you rent a safe deposit box, they bump up the limit you can buy that day a limit of 20 american eagle but if you had a safe deposit box with them you could buy 60

If you buy over 1500 no tax.
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  #99  
Old 05-04-2013, 7:28 PM
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The challenge with bar stock in quantities over 1 oz, i.e. not the Pamp Suisse packaged and pretty containers but the 4 oz, 10 oz and larger bars, is in selling it. Most vendors wont give you spot price for it. I have seen 5%-15% below spot for true bullion silver in mint condition. Coins and the Pamp Suisse bars, I get spot for but nothing larger.

The above has been my experience for silver only. I wish I had that problem with gold ingots
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  #100  
Old 05-05-2013, 5:43 PM
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Originally Posted by daves100 View Post
http://www.bluevaultsecure.com/

If you rent a safe deposit box,
From all the end of days reading I've been doing safe deposit boxes are not as safe as they used to be. Not sure how much i believe but reports are that big brother is cleaning out peoples metals store this way. Probably just too much gloom n doom reading...
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  #101  
Old 05-05-2013, 8:45 PM
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Originally Posted by slo5oh View Post
From all the end of days reading I've been doing safe deposit boxes are not as safe as they used to be. Not sure how much i believe but reports are that big brother is cleaning out peoples metals store this way. Probably just too much gloom n doom reading...
I'm not into leaving a large amount of silver or gold in a safe deposit box either.
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  #102  
Old 05-05-2013, 8:58 PM
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If one of your reasons for buying PMs is in the event of a SHTF situation, how would you get to it if it's stored in a safety deposit box?
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  #103  
Old 05-06-2013, 5:07 PM
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Gold and silver are mainly useful as currency, if the dollar crashes, and your cash isn't worth anything. So if you wanted to get a plane ticket to leave the country, and go someplace more stable, you could use gold to buy that ticket. If things are actually totally SHTF, then gold and silver won't be worth anything. It's only useful if worldwide markets are still intact, and the collapse is just in the USA.
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  #104  
Old 05-06-2013, 5:14 PM
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Originally Posted by BCDavis View Post
Gold and silver are mainly useful as currency, if the dollar crashes, and your cash isn't worth anything. So if you wanted to get a plane ticket to leave the country, and go someplace more stable, you could use gold to buy that ticket. If things are actually totally SHTF, then gold and silver won't be worth anything. It's only useful if worldwide markets are still intact, and the collapse is just in the USA.
I completely disagree.

To understand the value of currency (any currency, but particularly precious metals as they have inherent value instead of artificial value), you must first comprehend what money represents: it is a token representing a given amount of a person's time and labor.

Originally, people bartered goods and labor directly. But that is inefficient and impractical. For example, lets say you are a carpenter. You are hungry, so you go to a farmer and offer your services to build him a barn. In exchange, he offers you a goat at the completion of the job so you can feed yourself. But it's going to be hard to work for a week building a barn with no food in your belly. The problem is your labor is not liquid: you can not use it instantly to acquire what you need. As another example, lets say you are a stone carver. You want to buy a piece of land far from where you currently work. Over the years, you have made a number of of carved stone monuments. Are you going to haul several tons of carved rock across valleys, rivers, and mountain passes so that you can offer them in exchange of the plot of land you wish to purchase? In this case, the fruits of your labor are not portable.

Now let's bring money into the picture. Money is a token that has a certain value as established by the society in which that currency is used. As you perform beneficial work for other people in your society, they compensate you for your time, your efforts, and your skill. Instead of giving you goats, or whatever they happen to have to compensate you, they instead give you a number of tokens (say, 1 oz gold coins) of established value in exchange for the goods or services you provided to them. In essence, those coins represent a piece of your life. The more valuable the goods and services your provide, or the longer you provide them, the more tokens you are compensated with. Likewise, you can then take those coins, which are both liquid and very portable, and use them to purchase the goods and services of other individuals. To summarize, money is nothing more than tokens that allow a person to exchange a piece of his life (time and labor) for a piece of another person's life (time and labor).

(As an aside, this is why I believe a person should have the right to defend their property using any means, up to and including lethal force. Because when a person steals your money or possessions, they are stealing a part of your life. This is also why I am 100% opposed to welfare and other unconstitutional government "wealth redistribution" programs. Charity is a private affair and can only be determined individually by the person who's choosing to voluntarily surrender the tokens of their time and labor.)

In a real SHTF scenario, many people will be bartering goods and services directly. But the same impracticalities I discussed above will apply. People will still need to have some type of currency with which to exchange goods and services in a liquid and portable manner. And since fiat money will be worthless, then precious metals will become the obvious currency of choice.

There is still a lot to be learned from the people who lived thousands of years before us. Too bad liberals don't get that.
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Last edited by Spyguy; 01-31-2014 at 11:07 PM.. Reason: Changed "entitlement" to "wealth redistribution" for clarity.
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  #105  
Old 05-06-2013, 5:14 PM
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There was quite a story about a burglary at a bank in South America - not sure if it was Argentina or ? over a new years eve weekend a few years back - they cleaned out everyone's safe deposit boxes and of course the contents being uknown the insurance pay off left many short.
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  #106  
Old 05-06-2013, 5:17 PM
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In the case of a total dollar collapse it will be up to each and every individual to decide what they will use for money or barter. You may give nothing for an ounce of silver where as I might pay handsomely for something needed. I have a large and expansive property which may need labor to farm - I may offer food, ammo or silver in payment to that labor - that is my choice. People wanting to work may choose not too if the pay is silver - but I suspect many will.


Quote:
Originally Posted by BCDavis View Post
Gold and silver are mainly useful as currency, if the dollar crashes, and your cash isn't worth anything. So if you wanted to get a plane ticket to leave the country, and go someplace more stable, you could use gold to buy that ticket. If things are actually totally SHTF, then gold and silver won't be worth anything. It's only useful if worldwide markets are still intact, and the collapse is just in the USA.
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  #107  
Old 05-06-2013, 5:18 PM
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I would not give you a sack of rice for a piece of metal in SHTF scenario. Just saying.

Quote:
Originally Posted by Spyguy View Post
I completely disagree.

To understand the value of currency (any currency, but particularly precious metals as they have inherent value instead of artificial value), you must first comprehend what money represents: it is a token representing a given amount of a person's time and labor.

Originally, people bartered goods and labor directly. But that is inefficient and impractical. For example, lets say you are a carpenter. You are hungry, so you go to a farmer and offer your services to build him a barn. In exchange, he offers you a goat at the completion of the job so you can feed yourself. But it's going to be hard to work for a week building a barn with no food in your belly. The problem is your labor is not liquid: you can not use it instantly to acquire what you need. As another example, lets say you are a stone carver. You want to buy a piece of land far from where you currently work. Over the years, you have made a number of of carved stone monuments. Are you going to haul several tons of carved rock across valleys, rivers, and mountain passes so that you can offer them in exchange of the plot of land you wish to purchase? In this case, the fruits of your labor are not portable.

Now let's bring money into the picture. Money is a token that has a certain value as established by the society in which that currency is used. As you perform beneficial work for other people in your society, they compensate you for your time, your efforts, and your skill. Instead of giving you goats, or whatever they happen to have to compensate you, they instead give you a number of tokens (say, 1 oz gold coins) of established value in exchange for the goods or services you provided to them. In essence, those coins represent a piece of your life. The more valuable the goods and services your provide, or the longer you provide them, the more tokens you are compensated with. Likewise, you can then take those coins, which are both liquid and very portable, and use them to purchase the goods and services of other individuals. To summarize, money is nothing more than tokens that allow a person to exchange a piece of his life (time and labor) for a piece of another person's life (time and labor).

(As an aside, this is why I believe a person should have the right to defend their property using any means, up to and including lethal force. Because when a person steals your money or possessions, they are stealing a part of your life. This is also why I am 100% opposed to welfare and other unconstitutional government entitlement programs. Charity is a private affair and can only be determined individually by the person who's choosing to voluntarily surrender the tokens of their time and labor.)

In a real SHTF scenario, many people will be bartering goods and services directly. But the same impracticalities I discussed above will apply. People will still need to have some type of currency with which to exchange goods and services in a liquid and portable manner. And since fiat money will be worthless, then precious metals will become the obvious currency of choice.

There is still a lot to be learned from the people who lived thousands of years before us. Too bad liberals don't get that.
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  #108  
Old 05-06-2013, 5:35 PM
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Originally Posted by Gutz View Post
I would not give you a sack of rice for a piece of metal in SHTF scenario. Just saying.
What if you had 10,000 sacks of rice?
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  #109  
Old 05-06-2013, 5:49 PM
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Originally Posted by Gutz View Post
I would not give you a sack of rice for a piece of metal in SHTF scenario. Just saying.
Perhaps not in the first few weeks or months. But eventually, some form of societal construct will develop. Apocalyptic anarchy will not last forever. In fact, it will last shorter than most people realize. Either groups of good guys will band together and hammer out something similar to what our Founders created, or groups of bad guys will become tyrannical overlords. Either way, there will be a need for currency, and fiat money won't be worth anything except as toilet paper.
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  #110  
Old 05-07-2013, 9:37 PM
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Anybody looking for physical gold or silver, I'll suggest ebay. Seriously. You're not gonna get stuff for under spot, but I've been seeing old silver dollars going in the mid $20's for weeks.
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  #111  
Old 05-09-2013, 5:07 PM
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Default paper gold to bust?

I'll just put this little link right here:
http://www.infowars.com/are-we-on-th...per-gold-scam/
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  #112  
Old 05-09-2013, 6:14 PM
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In fact, it will last shorter than most people realize. Either groups of good guys will band together and hammer out something similar to what our Founders created,.
I see this happening if it were ever to happen.
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  #113  
Old 05-09-2013, 7:16 PM
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I see this happening if it were ever to happen.
I agree
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  #114  
Old 05-10-2013, 7:15 AM
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Default ETFs

Ever since silver and gold ETFs started they sold 3x the shares of bullion they held. I think it's actually 5% in gold and maybe 12.5% in silver at some of them. Ever since that's been the new and cry of infowars and the haters who think its got to be under your mattress or it's not real.

I've owned them in the past. They are a very affordable tool to invest retirement account funds in PMs, and guess what you can't take possession of physical metals in most IRAs only self directed and PM IRAs with lots of storage requirements and fees ( plus commissions ) so again the ETF is a valued means for a person with a small IRA to gain some exposure to PMs at ridiculously low costs.

Why infowars and others who decry them selling shares for bullion they don't hold forget one very important FACT, and that is their customers who buy the shares don't want to hold the bullion either!


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Originally Posted by slo5oh View Post
I'll just put this little link right here:
http://www.infowars.com/are-we-on-th...per-gold-scam/
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  #115  
Old 05-10-2013, 7:35 AM
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Silver spot price down to $23.50, far cry from $48 a couple years ago. Trend is still moving down.
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  #116  
Old 05-14-2013, 6:56 AM
problemchild problemchild is offline
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How the market is manipulated...........


Gangster State America


Paul Craig Roberts
Prison Planet.com
May 14, 2013
There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver.
My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers.
The sale was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery. No one but the Federal Reserve could have placed such an order, and the order came from one of the Fed’s bullion banks, one of the entities “too big to fail.”
Bill Kaye of the Greater Asian Hedge Fund in Hong Kong and Dave Kranzler of Golden Returns Capital have filled in the details of how the manipulation worked. Being sophisticated investors of many years of experience, both Kaye and Kranzler understand that the financial press runs with the authorized story planted to serve the agenda that has been put into play.
Institutional investors who have bullion in their portfolio do not want the expense associated with storing it securely. Instead, they buy into Exchange Traded Funds (ETF) and hold their bullion in the form of a paper claim. The largest, the SPDR Gold Trust or GLD, trades on the New York Stock Exchange. The trustee and custodian is a bankster, and only other banksters are able to turn investments into delivery of physical bullion. Only shares in the amount of 100,000 can be redeemed in gold.
The price of bullion is not set in the physical market where individuals take delivery of bullion purchases. It is set in the paper futures market where short selling can drive down the price even if the demand for physical possession is rising. The paper gold market is also the market in which people speculate and leverage their positions, place stop-loss orders, and are subject to margin calls.
When the enormous naked shorts hit the COMEX, stop-loss orders were triggered adding to the sales, and margin calls forced more sales. Investors who were not in on the manipulation lost a lot of money.
The sales of GLD shares are accumulated by the banksters in 100,000 lots and presented to GLD for redemption in gold acquired at the driven down price.
The short sale is leveraged by the stop-loss triggers and margin calls, and results in a profit for the banksters who placed the short sell order. The banksters then profit again as they sell the released gold into the physical market, especially in Asia, where demand has been stimulated by the sharp drop in bullion price and by the loss of confidence in fiat currency. Asian prices are usually at a higher premium above the spot prices in New York-London.
Some readers have said “don’t bet against the Federal Reserve; the manipulation can go on forever.” But can it? As the ETFs such as GLD are drained of gold, their ability to cover any of their obligations to investors diminishes. In my opinion, these ETFs are like a fractional reserve banking system. The claims on gold exceed the amount of gold in the trusts. When the ETFs are looted of their gold by the banksters, the gold price will explode, as the claims on gold will greatly exceed the supply.
Kranzler reports that the current June futures contracts are 12.5 times the amount of deliverable gold. If more than 8 percent of these trades were to demand delivery, COMEX would default. That such a situation is possible indicates the total failure of federal financial regulation.
What the Federal Reserve has done in order to maintain its short-run policy of protecting the “banks too big too fail” is to make the inevitable reckoning more costly for the US economy.
Another irony is the benefactors of the banksters sale of the gold leeched from the gold ETFs. Asia is the beneficiary, especially India and China. The “get out of gold line” of the US financial press enables China to unload its excess supply of dollars, accumulated from the offshored US economy, into the gold market at a suppressed price of gold.
Kranzler points out that not only does the Fed’s manipulation permit Asia to offload US dollars for gold at low prices, but the obvious lack of confidence in the dollar that the manipulation demonstrates has caused wealthy European families to demand delivery of their gold holdings at bullion banks (the bullion banks are essentially the “banks too big to fail”). Kranzler notes that since January 1, more than 400 tons of gold have been drained from COMEX and gold ETF holdings in order to satisfy world demand for physical possession of bullion.
Again we see that institutions of the US government are acting 100% against the interests of US citizens. Just who does the US government represent?
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously the editor of the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds,” details why America is disintegrating.
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  #117  
Old 05-14-2013, 10:08 AM
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Default I don't care for prisonplanet

But it does not mean they are always wrong. This story was dropped for the Boston bombing but I will again register my complaint with the lame stream media for not investigating this further. If in fact the FED short sold gold 72 hours or less before its collapse in the market someone should have to explain that.


Quote:
Originally Posted by problemchild View Post
How the market is manipulated...........


Gangster State America


Paul Craig Roberts
Prison Planet.com
May 14, 2013
There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver.
My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers.
The sale was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery. No one but the Federal Reserve could have placed such an order, and the order came from one of the Fed’s bullion banks, one of the entities “too big to fail.”
Bill Kaye of the Greater Asian Hedge Fund in Hong Kong and Dave Kranzler of Golden Returns Capital have filled in the details of how the manipulation worked. Being sophisticated investors of many years of experience, both Kaye and Kranzler understand that the financial press runs with the authorized story planted to serve the agenda that has been put into play.
Institutional investors who have bullion in their portfolio do not want the expense associated with storing it securely. Instead, they buy into Exchange Traded Funds (ETF) and hold their bullion in the form of a paper claim. The largest, the SPDR Gold Trust or GLD, trades on the New York Stock Exchange. The trustee and custodian is a bankster, and only other banksters are able to turn investments into delivery of physical bullion. Only shares in the amount of 100,000 can be redeemed in gold.
The price of bullion is not set in the physical market where individuals take delivery of bullion purchases. It is set in the paper futures market where short selling can drive down the price even if the demand for physical possession is rising. The paper gold market is also the market in which people speculate and leverage their positions, place stop-loss orders, and are subject to margin calls.
When the enormous naked shorts hit the COMEX, stop-loss orders were triggered adding to the sales, and margin calls forced more sales. Investors who were not in on the manipulation lost a lot of money.
The sales of GLD shares are accumulated by the banksters in 100,000 lots and presented to GLD for redemption in gold acquired at the driven down price.
The short sale is leveraged by the stop-loss triggers and margin calls, and results in a profit for the banksters who placed the short sell order. The banksters then profit again as they sell the released gold into the physical market, especially in Asia, where demand has been stimulated by the sharp drop in bullion price and by the loss of confidence in fiat currency. Asian prices are usually at a higher premium above the spot prices in New York-London.
Some readers have said “don’t bet against the Federal Reserve; the manipulation can go on forever.” But can it? As the ETFs such as GLD are drained of gold, their ability to cover any of their obligations to investors diminishes. In my opinion, these ETFs are like a fractional reserve banking system. The claims on gold exceed the amount of gold in the trusts. When the ETFs are looted of their gold by the banksters, the gold price will explode, as the claims on gold will greatly exceed the supply.
Kranzler reports that the current June futures contracts are 12.5 times the amount of deliverable gold. If more than 8 percent of these trades were to demand delivery, COMEX would default. That such a situation is possible indicates the total failure of federal financial regulation.
What the Federal Reserve has done in order to maintain its short-run policy of protecting the “banks too big too fail” is to make the inevitable reckoning more costly for the US economy.
Another irony is the benefactors of the banksters sale of the gold leeched from the gold ETFs. Asia is the beneficiary, especially India and China. The “get out of gold line” of the US financial press enables China to unload its excess supply of dollars, accumulated from the offshored US economy, into the gold market at a suppressed price of gold.
Kranzler points out that not only does the Fed’s manipulation permit Asia to offload US dollars for gold at low prices, but the obvious lack of confidence in the dollar that the manipulation demonstrates has caused wealthy European families to demand delivery of their gold holdings at bullion banks (the bullion banks are essentially the “banks too big to fail”). Kranzler notes that since January 1, more than 400 tons of gold have been drained from COMEX and gold ETF holdings in order to satisfy world demand for physical possession of bullion.
Again we see that institutions of the US government are acting 100% against the interests of US citizens. Just who does the US government represent?
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously the editor of the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds,” details why America is disintegrating.
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  #118  
Old 05-14-2013, 5:31 PM
creampuff creampuff is online now
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When including tax, looks like local stores here in the Bay area, are all selling about $8 above spot for AES. Even if you purchase online and factor in shipping and handling,we are still looking at around $6 above spot.

I haven't started into silver until this past month. Too bad I didn't start several years ago. Honestly I think this isn't the best time to start because of premiums, so I have just been purchasing moderately this month, and will stack them aside. The way I have rationalized it, is this is sort of a fun hobby, where I am not truly "spending" money, just transferring into a different asset.
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  #119  
Old 05-14-2013, 6:24 PM
problemchild problemchild is offline
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What tax? Buy over the minimum!

Quote:
Originally Posted by creampuff View Post
When including tax, looks like local stores here in the Bay area, are all selling about $8 above spot for AES. Even if you purchase online and factor in shipping and handling,we are still looking at around $6 above spot.

I haven't started into silver until this past month. Too bad I didn't start several years ago. Honestly I think this isn't the best time to start because of premiums, so I have just been purchasing moderately this month, and will stack them aside. The way I have rationalized it, is this is sort of a fun hobby, where I am not truly "spending" money, just transferring into a different asset.
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  #120  
Old 05-14-2013, 7:34 PM
creampuff creampuff is online now
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Quote:
Originally Posted by problemchild View Post
What tax? Buy over the minimum!
$1500, while isn't a huge amount when it comes to an investment. I'm not really looking at silver as a classic investment, but more as a hedge against inflation. And its kind of fun to stack a little at a time.
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