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PMMaven

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  • Before You Buy Silver, Remember The Coinage Act Of 1873 [View article]
    And there was silver in US coin of the realm after 1965. There are lots of stores of value in addition to gold & silver. I have never seen such bantering about simple semantics.
    Feb 28 05:27 PM | 3 Likes Like |Link to Comment
  • Things That Warren Buffett Learned From Ted Williams [View article]
    indi.. If you massage Williams' lifetime numbers to include all the years he missed from his prime; the results are staggering. He would've been in top 3 in all hitting categories. It's hypothetical,
    I know
    Jan 4 03:40 PM | 3 Likes Like |Link to Comment
  • Will JPMorgan Now Make and Take 'Delivery' of Its Own Silver Shorts? [View article]
    Maybe I'm wrong but I've seen Merchant Bankers that:
    1. Procure a large amount of metal.
    2. Sell equivalent futures. A highly levered position.
    3. Sell options and maintaining a neutral delta.(daily activity)
    (this computer model leads to perhaps 100's of options)
    4. Leases the metal to someone making a Ag bearing product.
    With attractive lease rate.
    This is an attractive business with up to ~14% return. Very little exposure to market fluctuations.
    Mar 24 10:58 AM | 3 Likes Like |Link to Comment
  • The CFTC and the Metals Markets [View article]
    The Hunts got screwed. Perhaps the CFTC was behind it, but it was the Comex Board of Governors that changed the trading rules. The board consists of the Merchant Bankers underwriting the guarentee funds. All those guys were short. Bonafide hedgers maybe.
    Mar 26 11:15 AM | 3 Likes Like |Link to Comment
  • How Recent Events In India May Affect Precious Metals Prices [View article]
    Oh, and by the way, I have personally seen gold at the U.S. Assay Office in downtown Manhattan. Way below ground.
    Apr 18 11:57 AM | 2 Likes Like |Link to Comment
  • Is Gold Ever An Investment? [View article]
    This wouldn't be done by a speculator. It is done by a hedger.
    Apr 12 08:57 AM | 2 Likes Like |Link to Comment
  • Palladium: The Not-So-Precious Precious Metal [View article]
    Every once in awhile I am motivated to comment. This article is excellent. Richard B, from my observations, is probably the most knowledgeable commentator regarding PM's on SA. Like when he kinda agreed with me that futures prices have a strong influence on spot/cash prices.

    Regarding Pt & Pd mine outputs:
    Russian(Norilsk+) Pd/Pt outputs are economically small compared to Ni values. Therefore PGM are certainly a by-product. They will probably now take longer and be more expensive to produce with Norilsk changing their refining process.
    SA has Pt as their primary product. I guess they call Pd a co-product.

    Stillwater is a very minor player in PM business. I guess if you own their stock, you'd be interested in them(unfortunately, I do own some).

    When catalytic converters were first invented(EI, Degussa, JM & Heraeus all took credit) Pt was not used. Pd was the principal element. Then $2000 Pd took care of that. Diesel came to use mostly Pt.

    Just to expand/modify E'hauler's comment; the principal use of Pd relative to H2 is to produce almost pure H2 by passing H2 across a membrane of 75Pd25Ag. I'm pretty sure this is needed for fuel cells.

    Biggest threat to Pt use in cat converters is good 'ole T.Boone's idea to convert US diesel tractor fleet to natural gas. I'd love to see that come to pass. But ExxonMobil et al. are even richer than Pickens.
    Mar 22 11:41 AM | 2 Likes Like |Link to Comment
  • A Timely Message for Newly Minted Gold Bugs [View article]
    About 30 yrs ago I modified that "Old Saw" to an oz of gold will always buy a ton of baloney. Actually in the future it will buy many many suits. Critically needed raw materials wud be the best things to own when the SHTF.
    Aug 19 08:28 AM | 2 Likes Like |Link to Comment
  • Stillwater: A Rare Precious Metals Stock Poised for Success [View article]
    Title excited me. Thought SWC discovered something.
    May 12 09:20 AM | 2 Likes Like |Link to Comment
  • Will JPMorgan Now Make and Take 'Delivery' of Its Own Silver Shorts? [View article]
    How about JPM acting on behalf of a client like Engelhard Div to complete a cash & carry hedge position. Client has say 500,000 T.O. of physical Ag. Ergo, JPM sells 500,000 T.O in futures(COMEX). Client is now hedged. And enjoys a little contango. Client now sells Ag to large industrial customer. And then fabricates the product the customer ordered. Client then ships & invoices customer for fabrication charges. Is something like that possible ?? OK, if futures are backward not contango, its a bit more expensive.
    Mar 24 10:40 AM | 2 Likes Like |Link to Comment
  • Will JPMorgan Now Make and Take 'Delivery' of Its Own Silver Shorts? [View article]
    SamGoody, you are correct, there is no such thing as a naked long. But a naked short is not illegal. The seller is a speculator, plain and simple. How does everyone know JPM shorts are naked? Maybe they have silver consignment accounts with folks like JM, Engelhard (BASF), Degussa, Heraeus or Sabin. Could someone tell me how JM is the largest silver refiner in the country. Are they doing refining for a major primary silver producer?
    Mar 23 04:15 PM | 2 Likes Like |Link to Comment
  • Export of 'Gold Compounds' a Booming Business [View article]
    Keep in mind, there are many gold compounds used by industrial companies. The actual gold portion of the product weight can vary greatly to as low as a few % up to 80-90%. If the value (selling price) includes fabrication costs the actual gold value of the sale could be very low. For instance, gold paint's (poor example) gold value is probably less than 10% of selling price.
    Sep 1 10:33 AM | 2 Likes Like |Link to Comment
  • Rhodium: The Most Precious Precious Metal [View article]
    Elemental Rhodium is not toxic. Are there any Merchant Banks making a market?
    Aug 25 10:50 AM | 2 Likes Like |Link to Comment
  • The U.S. Mint Again Suspends Gold Coin Sales: Is It Really Out of Gold? [View article]
    Seems to me the only poster who knows what he is talking about is kahalakid. Also someone the other day thought 250M TO Silver was a lot. You gotta be kinding.
    Jul 14 09:27 AM | 2 Likes Like |Link to Comment
  • JP Morgan Chase $2 Billion Derivatives Loss Illustrates Toxicity Of Casino-Banking [View article]
    Most of these Financial Engineers would be better off at the controls of a subway train. But most wouldn't pass the test.
    JPM and most other people do not know correct proper strict definition of 'HEDGE'.
    There's no such thing as a perfect hedge, but you can get up to
    99+%.
    May 11 03:00 PM | 1 Like Like |Link to Comment
COMMENTS STATS
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