@derryb said:
What determines the price of physical silver?
Supply and demand.
supply and demand of physical silver only determines premium over (or under) spot price. So other than the small percentage that premium adds to the total price, what actually sets the price of physical silver?
@ricko said:
And the mysterious manipulators.... Cheers, RickO
no mystery. It's JP Morgan. Holds over a million hard ounces and moves the most paper on the COMEX.
JP must be having nightmares riddled with these loosers...
or having wet dreams as they get away with cornering the market with the low prices they control. Prices keep dropping and their stack keeps growing. They appear to know something a few here don't understand.
Since 2000 JPM has paid over $29B in fines for 95 banking violations. Why would anyone accuse them of being corrupt. LOL. Fortunately for JPM, the CFTC's "hands off" approach regulates the futures market as JPM continues to set spot price on the COMEX and take advantage of that price with it's growing stockpile.
Around the same time silver bullion was hitting its near $50 high in late April 2011, JPMorgan began stockpiling silver bullion in its COMEX warehouse. (Buy High, Sell much Higher?).
JPM trying to catch a falling knife? Seriously? They know exactly what they are doing.
@cohodk said:
What is the evidence that JPM is actually buying silver?
You do know that JPM operates a depsoitary that holds millions and millions and millions of ounces of silver for several ETFs? One of which even began in April 2011.
So I'll ask you again. What evidence do you have that JPM is actually buying silver for itself?
Interesting...not a single ETF on that list. The largest holder of silver is SLV, and they arent even on that list. Hmmm...do you think maybe they buy through JPM?
@derryb said:
iShares silver ETF currently holds over more than 333 million ounces of silver "in trust," much more than JPM holds.
Yes..everyone knows that. And being so large, don't you find it interesting that they aren't on that "futures" list? Just how do they go about buying more silver for the trust? Kinda interesting that JPM is the custodian. Just like Fidelity or eTrade might be the custodian of your IRA. The trade is in the name of the custodian, for benefit of you.
You understand now why it is erroneously believed that JPM is the end buyer?
@derryb said:
fact remains fact, even when you close your eyes. Was I wrong when it went to $44? LOL.
Well, since you blame stockbrokers telling folks to buy stocks which may drop 70% over the next 7 years ( cough silver cough), then yes, you was wrong.
@cohodk said:
I do too. But I aint gonna buy no damn conspiracy and manipulation theories.
Fully understandable. A financial organization with $29B in fines for 95 banking violations since 2000 would never conspire to manipulate a market.
So lets think about this. You allege JPM has 140 million ounces of silver Thats about $2 billion worth....or just a small fraction of the fines you say they paid. Another perspective is that JPM has a $1.3 Trillion dollar balance sheet. So silver would represent less than 2 tenths of 1% of their assets. Why would they even bother with such a tiny, tiny market? Heck, Apple, just today, traded over $9 billion worth of stock. Silver just isnt worth messing with. Think about it.
@cohodk said:
I do too. But I aint gonna buy no damn conspiracy and manipulation theories.
Fully understandable. A financial organization with $29B in fines for 95 banking violations since 2000 would never conspire to manipulate a market.
So lets think about this. You allege JPM has 140 million ounces of silver Thats about $2 billion worth....or just a small fraction of the fines you say they paid. Another perspective is that JPM has a $1.3 Trillion dollar balance sheet. So silver would represent less than 2 tenths of 1% of their assets. Why would they even bother with such a tiny, tiny market? Heck, Apple, just today, traded over $9 billion worth of stock. Silver just isnt worth messing with. Think about it.
First lets really think hard about their track record with the violations and the fines. Speaks volumes.
Now lets think about their silver motive. Eleven years ago JPM had next to zero ounces of silver. What will they have eleven years from now and what will it be worth if they become a major net long paper player. If they only double their stack and sell at $100 an ounce they're looking at $400 billion. Triple or quadruple their stack? Run the price up to $200 in the futures market?
derryb
Posts: 36,217 ✭✭✭✭✭
Comments
Supply and demand.
Worry is the interest you pay on a debt you may not owe.
And the mysterious manipulators....
Cheers, RickO
"Dave's not here, man. ". ( in the voice of Cheech)
supply and demand of physical silver only determines premium over (or under) spot price. So other than the small percentage that premium adds to the total price, what actually sets the price of physical silver?
Give Me Liberty or Give Me Debt
"sets" the price? LoL
Liberty: Parent of Science & Industry
I set the price every time I agree to a purchase
I wish I knew
The Boogeyman.
Knowledge is the enemy of fear
Loves me some shiny!
And how do you determine this price you are willing to pay?
Give Me Liberty or Give Me Debt
no mystery. It's JP Morgan. Holds over a million hard ounces and moves the most paper on the COMEX.
Give Me Liberty or Give Me Debt
JP must be having nightmares riddled with these loosers...
or having wet dreams as they get away with cornering the market with the low prices they control. Prices keep dropping and their stack keeps growing. They appear to know something a few here don't understand.
Since 2000 JPM has paid over $29B in fines for 95 banking violations. Why would anyone accuse them of being corrupt. LOL. Fortunately for JPM, the CFTC's "hands off" approach regulates the futures market as JPM continues to set spot price on the COMEX and take advantage of that price with it's growing stockpile.
Around the same time silver bullion was hitting its near $50 high in late April 2011, JPMorgan began stockpiling silver bullion in its COMEX warehouse. (Buy High, Sell much Higher?).
JPM trying to catch a falling knife? Seriously? They know exactly what they are doing.
JPM is the silver market.
Give Me Liberty or Give Me Debt
Know what's more precious than silver? A tasty conspiracy theory! Mmmm ... delicious!
We sure wish you would be right sometime and OUR silver go up in value rather than down.. down.. down..
Liberty: Parent of Science & Industry
fact remains fact, even when you close your eyes. Was I wrong when it went to $44? LOL.
Give Me Liberty or Give Me Debt
What is the evidence that JPM is actually buying silver?
Knowledge is the enemy of fear
Give Me Liberty or Give Me Debt
You do know that JPM operates a depsoitary that holds millions and millions and millions of ounces of silver for several ETFs? One of which even began in April 2011.
So I'll ask you again. What evidence do you have that JPM is actually buying silver for itself?
Knowledge is the enemy of fear
Give Me Liberty or Give Me Debt
Interesting...not a single ETF on that list. The largest holder of silver is SLV, and they arent even on that list. Hmmm...do you think maybe they buy through JPM?
Knowledge is the enemy of fear
iShares silver ETF currently holds over more than 333 million ounces of silver "in trust," much more than JPM holds.
Give Me Liberty or Give Me Debt
Yes..everyone knows that. And being so large, don't you find it interesting that they aren't on that "futures" list? Just how do they go about buying more silver for the trust? Kinda interesting that JPM is the custodian. Just like Fidelity or eTrade might be the custodian of your IRA. The trade is in the name of the custodian, for benefit of you.
You understand now why it is erroneously believed that JPM is the end buyer?
Knowledge is the enemy of fear
https://etf.invesco.com/sites/default/files/documents/IVZ_SSLV_FACTSHEET_RETAIL_EN.pdf
Hmmmmm....inception date of April 2011 and JPM is the custodian. Just a coinkydink to your pretty little chart above?
Knowledge is the enemy of fear
Well, since you blame stockbrokers telling folks to buy stocks which may drop 70% over the next 7 years ( cough silver cough), then yes, you was wrong.
Knowledge is the enemy of fear
buy what you like. I like silver.
Give Me Liberty or Give Me Debt
I do too. But I aint gonna buy no damn conspiracy and manipulation theories.
Knowledge is the enemy of fear
Fully understandable. A financial organization with $29B in fines for 95 banking violations since 2000 would never conspire to manipulate a market.
Give Me Liberty or Give Me Debt
Yeah, there's a real silver shortage all right! I checked Apmex, they're all sold out of none of the thousands of kinds for sale!
Liberty: Parent of Science & Industry
Just thought I'd toss this in here. I am not Warren's biggest fan but sure enjoyed this quote.
So lets think about this. You allege JPM has 140 million ounces of silver Thats about $2 billion worth....or just a small fraction of the fines you say they paid. Another perspective is that JPM has a $1.3 Trillion dollar balance sheet. So silver would represent less than 2 tenths of 1% of their assets. Why would they even bother with such a tiny, tiny market? Heck, Apple, just today, traded over $9 billion worth of stock. Silver just isnt worth messing with. Think about it.
Knowledge is the enemy of fear
First lets really think hard about their track record with the violations and the fines. Speaks volumes.
Now lets think about their silver motive. Eleven years ago JPM had next to zero ounces of silver. What will they have eleven years from now and what will it be worth if they become a major net long paper player. If they only double their stack and sell at $100 an ounce they're looking at $400 billion. Triple or quadruple their stack? Run the price up to $200 in the futures market?
Give Me Liberty or Give Me Debt
You will always believe JPM owns physical silver even when presented with evidence otherwise and zero motive.
Knowledge is the enemy of fear
JPM's record of motive speaks for itself, but you can continue to be their public defender.
Give Me Liberty or Give Me Debt
Defend attack, defend attack. I just can't seem to make anyone happy.
Knowledge is the enemy of fear
Ya can't "make" anyone do anything, except offer an opportunity to think.
Liberty: Parent of Science & Industry
True. Unfortunately a dearth of willingness perpetuates these premises.
Knowledge is the enemy of fear