Ag Enemy of the State

Time to Buy Gold and Silver

This statement is so ignorant...."And the nonsense about not being able to actually buy silver at these prices. Priceless inanity! Try Kitco, Apmex, Monex for RETAIL buys at 3 to 5% above spot as always, or buy a contract and take delivery. Since there have been ZERO failrues to deliver on the Comex or LBME or any other major bourse at the contracted price I think you'll get your silver."

Have you tried...I know you have not...then you would realize to pay cash up front and wait for delivery for some undisclosed time (still waiting for delivery are you?)...that is as bright as a three watt bulb....as far as taking delivery of 1000 oz bars..thats debatable...ask the Hunt brothers. Oh ...and look at the fortis report again....I think you left out a key demand....and as of last week COT most shorts in silver have not covered (hm... could they be so large as to be trapped?)some people...how foolish ...Mike L please use spellcheck before I have to suffer through another of your posts. I could go on but that would be a waste of time. Thanks, really appreciate it.

Seven Reasons Inflation Won't Vanish

This is ignorance at its finest......"Because gold is not money, it's a commodity that is traded in dollars and the value of the dollar is exploding as the number of dollars extant implodes. "

FIAT is FIAT and will always be FIAT...until it is no more...history may not exactly repeat...but it rhymes...

Unknown

Paulson Rolls The Dice At Taxpayer Expense

The dollar is tanking....seems so more coordinated intervention is in order. Poulson, Bernake et al are traitors..nothing but self serving bankers and their revenue sucking ilk.

Precious Metals Manipulation: Lawyers Prepare for Battle

Wow..just read Bron's Blog....explains a lot...highly recommended reading for all precious metal investors...based on what I read there is no basis in the wholsale market.

Precious Metals Manipulation: Lawyers Prepare for Battle

Does anyone know if the wholesale market is as tight as the retail market? Is there as large a basis in the wholesale market as there is in the retail market? The whole concept for taking delivery is only rational if there is sufficient basis to accept delivery to offset the costs associated with delivery and still make a profit. I have calculated this requirement to be at least $1.00. For me the hassel factor makes it only worthwhile if basis is at least $1.50.

The Treasury Bull Is Alive and Kicking

Hello Mark, Go to the "Precious Metal Manipulation..Lawyers Prepare for Battle" blogs at the seekingalpha website there is a lot more written there about delivery...currently I have set up a futures investment account with the sole purpose of taking delivery and most brokers have not done this but more and more are hearing and learning about it from people like us because the basis (spread) between paper silver and physical silver is so large. I think due to high interest there might have to be a website created dedicated for the sole purpose of delivery as there are many issues. e-mail me at [e-mail] as I do not give The broker I use is FOX investments in Chicago.

Precious Metals Manipulation: Lawyers Prepare for Battle

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 [e-mail] so I can give you my number to discuss this further if you wish. Thanks again

The Treasury Bull Is Alive and Kicking

If there were deflation..the following would not be occuring...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!

The paper price for silver is $12 yet go and try to buy real hold in your hands physical silver for $12 per oz.....ha ha ha (real price $18/oz)

The paper price for gold is $800 yet go and try to buy real hold in your hands physical gold for $800 per oz.....ha ha ha (real price $950/oz)

Try this on for size...COMEX silver price will be $1.00 when dumb paper traders realize the COMEX has no silver left...duh...of course by then you can try to buy real silver on e-bay for $1000/oz.

In the meantime I will do this: buy 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 $12-14/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 + $1600-1800. 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.

No brainer to me....in the meantime Mish you can keep your precious paper dollars in the matress while they increase in value...ha ha ha

Remember the game Rock, Paper, Scissors...scissors(ma... of metal) cuts paper....always...just like inflation(priniting of money at will...monitization of debt) will always cut deflation...just ask an Argentinian or Zimbabwean....

Precious Metals Manipulation: Lawyers Prepare for Battle

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 [e-mail]. Thank You