PowerShares DB Precious Metals Fund (DBP)

All Comments on DBP

  • commenter
    daveddawg
    Sep 06 05:13 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    James Conrad, Tradertom, Philman,Ag,and others have really done a good job here. Rob Kirby says it is the Fed through JP Morgan who is doing the shorting. They will (IMHO) start covering on Monday. Maybe NYMEX will open a special session for them on Sunday? Note bond action on FRI, yield was up quite a bit, so the price of the bonds went down. Do they know something we don't? Also note the FRE FNM bailout announced Fri. Seems to me the FED is going to need a lot of money in a hurry. Maybe they knew they would need a lot of money soon, so they shorted the only physical thing they have. So they cover their shorts, make a lot of money, and pump it into FRE FNM. No matter what, they will start the printing presses again, and KING dollar will start going down. Because the dollar is going down, oil will go up, as will other commodities. Our dollars will be worth less because we will not raise the taxes to actually pay our debts. We will just send the bill to our grandchildren. Reply
  • commenter
    asleeper
    Sep 06 02:48 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    The SLV Prospectus mentioned a way to redeem shares for physical silver, I think (I didn't save it). Does anyone recall how to do it: where the silver must be picked up, what amounts can be redeemed? Has anyone tried redeeming their shares? Reply
  • commenter
    philman
    Sep 06 02:07 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Wouldn't it be great to force the COMEX to convert from a fantasy futures market, to a real physical delivery market! I'd love to buy 1,000 ounce bars! Reply
  • commenter
    philman
    Sep 06 02:04 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Oh, and, did I forget to say, in capital letters, THANKS FOR THE EXCELLENT INFORMATION YOU ARE PROVIDING!! Reply
  • commenter
    philman
    Sep 06 02:03 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Tradertom, how do I know how much I am really getting? Who weighs the bars? Do I weigh the bars? Reply
  • commenter
    Ag Enemy of
    the State
    Sep 06 01:47 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Thank You Trader Tom. I am interested. The basis(spread) in silver is just too large not to take advantage of, especially if these low prices persist for the next two weeks. I also don't understand why the refiners are not taking delivery if they are able to sell at such a large premium. I will have to find out how liquid 1000 oz bars are (never see them on e-bay) and some dealers might pay less, I have left a couple of messages to confirm....but even if 5000 oz. physical sold at $1.50 over spot (to be conservative) and adding triple estimate for delivery cost yields over $5000 in profit per contract is possible.. I have also noticed that even though the price has recently dropped from around $13 to $12 per oz. this just increased basis...as the physical price remained the same...I cannot believe this...but I am hoping for even lower prices...at least for two weeks...You can e-mail me at searchnmn@yahoo.com so I can give you my number to discuss this further if you wish. Thanks again Reply
  • commenter
    tradertom
    Sep 06 11:21 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    The silver contract is 5000 oz, thus you would have to purchase 5-1000 oz bars as a minimum. This is probably why people do not take delivery as most cannot buy this large quantity. I don't understand why the refiners are not taking delivery if they are able to sell at such a large premium. Reply
  • commenter
    tradertom
    Sep 06 11:15 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Philman, You are right, the bar(s) you get may be slightly more or less than 1000 oz, but you do not have to pay for the amount less than 5000 oz that would be delivered, or if you get a bit more, you would have to come up with a bit more money. As far as pouring your own 100 oz bars, I don't think this would work as most investors prefer a name brand bar and would not know if the center of your bars were silver or lead without an expensive assay. The Ebay idea may be the better idea, and several places I have contacted are trying to sell 1000 oz bars at 3 dollars over spot or so.

    Ag Enemy, You would be receiving 1000 (approx) oz bars if you take delivery from the Comex. You needn't worry about a default anytime soon as they have about 137 million ounces currently stored. Delivery would be to a New York bank where you could pick it up, or have it delivered to you by probably Brinks. I would think that if you could sell 1000 oz bars at 3 over spot that there would be money to be made. There are some miscellaneous delivery charges and Brinks would obviously charge to deliver. I will check Monday to see If I can get a ballpark figure for all charges and let you know. I have been a futures broker for 15 years and have never had a customer take physical delivery, but will look into it if you are interested.     Reply
  • commenter
    philman
    Sep 06 07:03 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    As far as I know, the futures markets only deal in 1,000 ounce bars, not 100 ounce bars. And, it seems like they are allowed to short you by up to 50 ounces, because the COMEX contract defines "good delivery bars" as being either 5% more or less than 1,000 ounces. That, of course, is cheating since it is very easy to be accurate when pouring a bar. Another reason why the futures price is B.S. But, anyway, assuming they short you by 5%, you still pay only about 62 cents extra, if the price per ounce is "officially" $12.26 on the COMEX. Then, there is another "time premium" because silver is in contango. That means that future delivery is worth more than getting the product now. By the time you finish with all the premiums (and commissions), I think the final price would be about $12.90 when the spot price is supposed to be $12.26 per ounce. But, if you can sell the bars for $1.50 over spot on EBay, then you can pocket about 65 cents per ounce, even after you've paid all the premiums and been cheated of 5% of the silver you supposedly bought.

    Here's my idea. Are there any metallurgists out there? Someone trained in metallurgy could easily melt down the 1,000 ounce bars, and repour them into 100 ounce bars. Seems like the business opportunity of a lifetime, now that Johnson Matthey is ignoring the retail market.

    Another business idea I have is selling 1,000 ounce bars on EBay. Obviously, I'm not going to get away with cheating my customers of 5% of their silver, like they will be cheating me, at the COMEX fantasy futures exchange. However, even when I factor this hidden cheat in, I can still make decent money by buying futures, and then selling the product on EBay.

    Once silver prices start soaring again, I'll have to stop because I won't know when they will collapse them again, and I could lose money in the interim. But, so what? Whenever the crooks collapse the price, I can go back into business, again! You can sort of feel when they've sucked out all the juice they can, mostly by observing when the weak handed speculators on COMEX have all been chased out of the market, like now.

    Are there any entrepreneurial metallurgists out there?     Reply
  • commenter
    nyctrax
    Sep 06 02:17 AM
    The Commodities Basket Trade [view article]
    Article should be retitled "The Commodities Basket-Case Trade"!! Reply
  • commenter
    Ag Enemy of
    the State
    Sep 06 02:08 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    I hope you can help me with an idea I have been mulling around. As a test I propose to buy 1 futures contract (5000 ozs.) on the last day of trading for September delivery, if in the next two weeks the COMEX silver price stays at this, sub $13-14/oz. low level. I figure the last day, even the last hour of the last day so as to avoid too much price volatility before expiration. The goal is just to take delivery at a known paper generated price. I notice on E-bay that 100 oz. JM bars routinely are selling for + $1500-1700. I have been to several coin shops in the Los Angeles area were I have confirmed a significant depletion of physical silver, particularly 100 oz. JM bars and when they come in most coin dealers will readily pay $1.50 to as much as $2.50 over spot.

    I have inquired about my proposed scenario to several people and apart from the usual notes of discouragement from many I have called several brokerages that will work to set up futures accounts and get inconsistant answers to the following questions.

    If I take delivery, do they deliver or do I have to pick up. If I have to pick up...from where do I go? One brokerage said I will get an official piece of paper/certificate and that they consider that delivery...ha ha..thats a good one. Another brokerage said I would have to travel to New York to pick up my silver. Another said any Federal Depository. Could you give me a tip on who to contact?
    If I get delivery..what do they deliver? 100 oz. JM bars would be best but I am afraid they would give me 1000 oz. bars which as far as I can tell are not as liquid...I mean who would I sell to....most coin stores do not stock or sell those and I really do not see 1000 oz. bars on E-bay. Can I specify what I want delivered? What does the COMEX store?...besides paper.
    I hope to take advantage of this spread and thus fund my additional silver purchases by taking my profit in silver and repeat.
    I believe if everyone did this true price discovery would occure....1 contract at a time. Maybe you could make this an article...akin to a reverse boycott of the COMEX...a COMEX run on delivery...1 contract at a time. Just a thought.

    As an anecdote ...I was recently filled on an order of 16 JM 100 oz. bars @ 14.5, as luck would have it..from someone...through a coin shop that I have frequented for over a year now. I got filled buy a fluke. My coin dealer found someone in San Diego who supposedly, accidently took delivery of several contracts and wanted to unload them only in 10,000 oz./100bar lots for $1.00 over spot ($14.10 at the time) so he called me Wed. afternoon knowing I only wanted JM bars and this is what was delivered to this guy in San Diego who at that time still had some 800 bars. I did not have that much cash available so it took me a day to get another person to buy in. In that one day...the next morning, no less he had sold all 800 bars.
    As luck would have it that same morning another seller showed up with 25 bars at $14.50 and I told the coin guy to purchase 16 with the money deposited for the prior failed deal. I called less than one hour later to change that to all 25 but was told the remaining 9 were already gone. WOW they go like hotcakes here! TraderTom can you contact me at searchnmn@yahoo.com. Thank You

    Reply
  • commenter
    User 256610
    Sep 06 01:50 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    I will borrow a term from BGP routing. Markets are what I will term autonomous systems. What I mean by that is simply that they determine outcomes autonomously and are not subject to the whims individuals or even individual governments. Tyrants hate autonomous systems because they cannot control them. Freedom loving people cherish and protect autonomous systems because they preserve freedom and liberty. A free press is an autonomous system. The internet is an autonomous system.

    Tyrants hate a free press and they hate the internet. Silver and gold represent an autonomous money system. And here is where we intersect. Hate, hate, hate and hate. But tyrants are weak at this time. Like devils or cockroaches they must flee when the light is turned on. One grain of truth can destroy a mountain of lies, that is the nature of things.

    But since tyrants and devils cannot work in the light, they must scheme in the dark. And 99% of their schemings are about control of your mind, why? Because if they cannot control autonomous systems, they can mess around with the inputs: mind control. Let's use the free market as an example. A free market is one of the most powerful autonomous systems to ever exist. The "invisible hand" of the free market allocates resources and decision making in a way that no tyrant or commitee of tyrants could ever hope to.

    But a free market is really only made up of many little individuals, all acting in rational self-interest. But what happens if the actors become irrational? If a small number do so then they will be taken out by the others who are still rational. But what if a large number or even the majority become irrational? Welcome to the United States of mass mind-control.

    Do you want to take back your country from the satanic mind controllers? Would you like to restore the autonomous systems that made this country great? One of the most powerful things you can do is really very small and simple. Just simply start buying physical silver. Silver is still money even though the mind controllers have told you it isn't. Governments of the earth have stockpiled it since the dawn of civilization, nearly 50 billion ounces of it. Yet now it is all gone. Why? Well, the conspiracy is long and drawn out and takes many years of study to understand, but if you really want to know why go over to silver-investor.com and read the archives.

    But for those without that kind of time let me summarize it all. They had to convince you that silver isn't money so that they could use it all up cheaply building their machines. Machines NEED silver, especially the electronic kind. Every single one of them in your house right now has a tiny bit of silver in it.


    Now let me ask you a question. What is the main thing that 2.2 billion Chindians want right now? You got it, MACHINES. And machines need silver. But we have almost used it all up. Think about it. 50 billion ounces, accumulated by every kingdom on earth for millenia, now being irrecoverably depleted to create machines like the one you are reading these words on right now.

    Now you know why Johnson-Mathey is closing shop. Why silver eagles are backlogged. Why shortages are appearing. THEIR GAME IS BEGINNING TO UNRAVEL. And you can have a part in it. Even if you just go and buy one silver dime and sock it away YOU HAVE HELPED THE CAUSE.

    If just one million Americans went and bought a thousand ounces of silver and TOOK DELIVERY, it would be GAME OVER. That's one billion ounces, and they don't have that much, trust me. So please, strike a blow for freedom, help preserve our autonomous systems, help bring the tyrants to their knees. BUY PHYSICAL SILVER!!!
     Reply
  • commenter
    philman
    Sep 06 12:57 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Tradertom, how can we contact you to buy on the futures market for physical delivery? What is the delay between the time the metal is delivered to the NY bank, and the time they send it to me. What minimum contract must be purchased? I read about "good delivery" bars on COMEX, and it says that they can be 5% over or under weight, and still be "good delivery". Suppose I take delivery of a 1,000 ounce bar of silver? Seems likely, since it is to the advantage of the fabricators, that most bars will be 950 ounces, not 1,000. Will that shortage be compensated by a supplemental bar, or a price reduction? Or, is that yet another stealth premium we need to pay to take physical delivery? Thanks for your anticipated answers! Reply
  • commenter
    gaucho
    Sep 05 09:28 PM
    My Website
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]

    Here is two little videos, for those of you who think our government is capable of manipulation and do not know just how much.
    If you watch these you will be taking the red pill. If you love the current state of affairs and think that the war is a great thing may want to not watch and thus take the blue pill. I warn you that once you watch these you may never be able to go back to the old way of thinking. Most of you do not have the backbone to watch to the end.



    www.youtube.com/watch?...

    www.youtube.com/watch?...     Reply
  • commenter
    knowmetals
    Sep 05 07:41 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    For all the ignorant people commenting; Commodity bull market cycles last up to16 years. We are currently experiencing a normal correction. All weak panty-waist investors are on their way out if not already out.
    Nothing goes straight up (except real estate ha! ha! ha!) everday.
    Corrections are healthy. I would be concerned if the commodity markets went up, up and away. Then we would be facing another dot.com and real estate bubble.
    Patience is the key here. Precious metals will resume their upward momentum with a vengeance. The dollar is fininshed.     Reply
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