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Nickel's not PM related stock trading thread

derrybderryb Posts: 29,163 ✭✭✭✭✭
edited July 2, 2020 9:03AM in Precious Metals

Thread has become a discussion on trades so I changed the title.

"I don’t have a crystal ball. But I do have history books." - Frank Giustra

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Comments

  • blitzdudeblitzdude Posts: 2,610 ✭✭✭✭✭

    Oh my no gold, stop the world. lol

    You wan't to buy gold at $1800? PM me, I will get you all you could possibly afford......and then some.

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited March 28, 2020 5:52PM

    @blitzdude said:

    You wan't to buy gold at $1800? PM me, I will get you all you could possibly afford......and then some.

    I'm a seller at $1830, but I will give you spot for it. PM me with your quantity of $50 AGEs/buffalos.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • johnny9434johnny9434 Posts: 21,404 ✭✭✭✭✭

    @Baley said:
    The emperor's critic appears to have no spell-check.

    Aint dat da piets

  • rickoricko Posts: 74,592 ✭✭✭✭✭

    Well now...I guess that is the long and the short of it... ;) Cheers, RickO

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited March 31, 2020 3:51PM

    The CME Opens Pandora's Box

    "The CME Group has maintained for years that their pricing scheme is fair, sacrosanct, and backed by physical delivery. They post vault stock reports every day of the week that purport to show a physical vault inventory of over 8,000,000 ounces. So if you're a dealer and you need immediate metal, why not just pony up to the bar at COMEX and stand for delivery? After all, the CME itself claims that the gold is all there and just waiting for someone to ask for it."

    "This "delivery" illusion worked out just fine...until last week."

    Hope the FDIC delivery illusion doesn't get tested.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • isaiah58isaiah58 Posts: 344 ✭✭✭

    I believe there are over 2x the number of buy contracts than there is physical, at times it has been worse. Then there are the "short" sell contracts, more than buy contracts. The only way it can be fixed is a true number total contracts equal to what is available. I can not put a "short" on my neighbors home, and they can not accept a contract to sell from more than one person. Why can multiple contracts be placed on a gold bar, including short sells from people that do not own it?

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited April 3, 2020 7:40AM

    "Panic Stations": What Are The LBMA And COMEX Trying To Hide?

    "The fact that the LBMA - COMEX tag team which front for the modern bullion bank cartel have to comment not once, but twice in a week about the health of gold inventories in London and New York means they are panicking. It's unprecedented."

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭
    edited April 3, 2020 7:50AM

    Maybe they are commenting more frequently because they are being asked more frequently?

    If they didnt respond, then folks would cry out, "Why arent they responding? What are they trying to hide?"

    Conspiracies live on because to defend requires a counter-factual, which by definition, is impossible.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • jmski52jmski52 Posts: 20,382 ✭✭✭✭✭

    I'm wondering if the stay-at-home orders are allowing more people to go online and actually research what's going on around the world. There's got to be a lot of angst over the stock market, and more people seeking answers.

    Unless they're too busy applying for unemployment or gov.com assistance. We live in interesting times.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭

    @jmski52 said:
    I'm wondering if the stay-at-home orders are allowing more people to go online and actually research what's going on around the world. There's got to be a lot of angst over the stock market, and more people seeking answers.

    Unless they're too busy applying for unemployment or gov.com assistance. We live in interesting times.

    Folks care most about their wealth and health so threats to both obviously creates more angst. Unfortunately, the proliferation of mis-information is rampant and easily disseminated thus creating more angst. We have indeed become our own worst enemy.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    @cohodk said:
    Maybe they are commenting more frequently because they are being asked more frequently?

    If they didnt respond, then folks would cry out, "Why arent they responding? What are they trying to hide?"

    Conspiracies live on because to defend requires a counter-factual, which by definition, is impossible.

    You mean like the FDIC suddenly seeing the need to remind us that our savings in the bank are safe?

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • jmski52jmski52 Posts: 20,382 ✭✭✭✭✭

    the proliferation of mis-information is rampant and easily disseminated thus creating more angst. We have indeed become our own worst enemy.

    Our worst enemy is a central bank that can create unlimited "money" and use it to buy assets & conduct social engineering on it's "clientele". This phenomenon will impact you, in spite of how well you think that you've insulated those around you.

    Money from thin air is corruption, plain & simple.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ReadyFireAimReadyFireAim Posts: 1,141 ✭✭✭✭✭

    Why take delivery when they'll give me more contracts for the same price?
    I'm rich :D

  • HigashiyamaHigashiyama Posts: 1,392 ✭✭✭

    @derryb said "You mean like the FDIC suddenly seeing the need to remind us that our savings in the bank are safe?"

    As Jimmy Stewart pointed out in It's a Wonderful Life, panic is a dangerous thing. Money insured by the FDIC is certainly safe.

    (It is not zero risk, of course. Although most failures are handled quickly and with no material adverse impact on the depositors, there are possible scenarios where money is tied up for a while; in that sense, there is some opportunity cost risk, and some inflation risk. However, the chance of losing your nominal value is essentially zero. For planning purposes, it can be considered zero. In any case, this risk is certainly lower than keeping the cash at home or keeping neat packets of hundred in a safe deposit box.)

    Higashiyama
  • HJPHJP Posts: 405 ✭✭✭

    Wow. The sheeple are waking up. I wonder how long before some realize they are no longer in the 2% ? or even the top 3%. Worse, I wonder how long it is before those who thought they were in the middle class, realize they aren't.

    Thank you jmski, Cohodk & derryb for providing very useful and pertinent information about the nature of owning, buying, selling and speculating in - what must be the more emotional asset classes there is.

    Corruption needs to be shown for what it is and why it is.
    HJP

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited April 3, 2020 10:40AM

    @Higashiyama said:
    @derryb said "You mean like the FDIC suddenly seeing the need to remind us that our savings in the bank are safe?"

    As Jimmy Stewart pointed out in It's a Wonderful Life, panic is a dangerous thing. Money insured by the FDIC is certainly safe.

    (It is not zero risk, of course. Although most failures are handled quickly and with no material adverse impact on the depositors, there are possible scenarios where money is tied up for a while; in that sense, there is some opportunity cost risk, and some inflation risk. However, the chance of losing your nominal value is essentially zero. For planning purposes, it can be considered zero. In any case, this risk is certainly lower than keeping the cash at home or keeping neat packets of hundred in a safe deposit box.)

    Your synopsis is true, but only as long as there is no panic to retrieve bank deposits. Our current crisis could easily create that panic. The whole point of my FDIC expose' is that your money in the bank faces greater risk in times of greater risk.

    And why now does the FDIC choose to remind us our deposits are safe? To prevent a panic run on the banks which in turn would expose the FDIC for the publicity stunt that it is.

    Fact is the banks could not support the sudden withdrawal of most deposits. Fact is the FDIC could not cover the massive bank losses/failures that would result.

    Most depositors do not realize they are caught up in a Ponzi scheme: 90% of their deposits are being loaned to a third party. FDIC reassurance helps keep the music going.

    When you see access to your money in the bank suddenly disappear, you will know your money is no longer safe in the banks. But it will be too late then, won't it? But not for those who saw the risk rise.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭
    edited April 3, 2020 1:13PM

    For planning purposes, it can be considered zero. In any case, this risk is certainly lower than keeping the cash at home or keeping neat packets of hundred in a safe deposit box

    Perhaps a risk analysis should be taken to see if FDIC insured cash is less risky than gold coins in an underwear drawer?

    We could have a separate counterparty audit the results. :D


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭

    Fact is the banks could not support the sudden withdrawal of most deposits. Fact is the FDIC could not cover the massive bank losses/failures that would result

    Its all perception derryb, all perception. LOL


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • MsMorrisineMsMorrisine Posts: 23,760 ✭✭✭✭✭

    how long are we going to give this unravelling before we say it is not unravelling?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited April 3, 2020 2:04PM

    @cohodk said:
    Fact is the banks could not support the sudden withdrawal of most deposits. Fact is the FDIC could not cover the massive bank losses/failures that would result

    Its all perception derryb, all perception. LOL

    Everything that involves money is perception. Funny how FDIC is suddenly concerned about the perception.

    How's the safety of your stock market doing? LOL

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭
    edited April 3, 2020 2:18PM

    @derryb said:

    @cohodk said:
    Fact is the banks could not support the sudden withdrawal of most deposits. Fact is the FDIC could not cover the massive bank losses/failures that would result

    Its all perception derryb, all perception. LOL

    Everything that involves money is perception. Funny how FDIC is suddenly concerned about the perception.

    How's the safety of your stock market doing? LOL

    Will it drop 45% like gold or 75% like silver?


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited April 3, 2020 3:56PM

    @cohodk said:

    Will it drop 45% like gold or 75% like silver?

    and more. Let's skip a recession and go strait to a depression.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭
    edited April 3, 2020 7:12PM

    @derryb said:

    @cohodk said:

    Will it drop 45% like gold or 75% like silver?

    and more. Let's skip a recession and go strait to a depression.

    You really do need to get your spellcheck fixed. Or perhaps you are a homophone?


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    you're the one with the two o's in your name.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    @cohodk said:
    Fact is the banks could not support the sudden withdrawal of most deposits. Fact is the FDIC could not cover the massive bank losses/failures that would result

    Its all perception derryb, all perception. LOL

    duh, it's all about the narrative and who controls it.

    FDIC: "Your money is safe." Maybe my money is safe and maybe your money is safe but how can everyone's money be safe when the FDIC is not funded to protect it? Yes, I know - a FED bailout of the FDIC. LOL

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭

    Derryb...did you get the homophone reference yet?


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • TwoSides2aCoinTwoSides2aCoin Posts: 41,328 ✭✭✭✭✭

    The premiums increase and delivery is delayed by weeks. Something is amiss.

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited April 23, 2020 11:43AM

    This is what current high premiums are telling us:

    The gold derivatives market is imploding. The impact of the current crisis unfolding in the gold derivative markets is that the decades old, highly leveraged pump-and-dump paper scam has likely run its course. Many owners of gold "held" in various places will learn that all of those "secure vaults" are full of nothing more than claims on gold issued by either the LBMA or the COMEX. The world's gold paper trails will all lead to just two places where all of this mystery gold is stored claimed to be stored.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • bidaskbidask Posts: 11,555 ✭✭✭✭✭

    @derryb said:
    This is what current high premiums are telling us:

    The gold derivatives market is imploding. The impact of the current crisis unfolding in the gold derivative markets is that the decades old, highly leveraged pump-and-dump paper scam has likely run its course. Many owners of gold "held" in various places will learn that all of those "secure vaults" are full of nothing more than claims on gold issued by either the LBMA or the COMEX. The world's gold paper trails will all lead to just two places where all of this mystery gold is stored claimed to be stored.

    Could be right ....kind like the fiasco in the oil futures market.......

    I only play in physicals.

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited May 2, 2020 5:52AM

    Comex operator prepares for clearing member default:

    CME Group Inc. disclosed April 30 that it agreed to an amendment that gives the commodity exchange company a $7 billion multi-currency credit facility.

    The company said the 364-day amended facility is intended to provide liquidity "in the event of a clearing member default," a liquidity constraint or depository default, or in the event of a delay in the payment systems used by CME. The company's stock fell 2.8% in afternoon trading. It has dropped 19.4% over the past three months, while the S&P 500 has shed 11.6%.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • MsMorrisineMsMorrisine Posts: 23,760 ✭✭✭✭✭

    so they have some insurance.

    it sounds more like an oversight to not have had it.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    Why the sudden need for some insurance? lol

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • blitzdudeblitzdude Posts: 2,610 ✭✭✭✭✭

    Just checking back in, has the COMEX "unraveled" yet? Looks like business as usual to me. lol

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited May 3, 2020 7:41AM

    In process. COMEX's parent company's stock has dropped almost twice as much as the SP500 in the past three months.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • OPAOPA Posts: 16,071 ✭✭✭✭✭

    @derryb said:
    In process. COMEX's parent company's stock has dropped almost twice as much as the SP500 in the past three months.

    I'll check back in 6 month, but I'll suspect "business as usual."

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 41,328 ✭✭✭✭✭

    The pencil pushers need a better sharpener.

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited May 13, 2020 3:46PM

    HSBC Lost About $200 Million in One Day on Gold Market Turmoil

    The big bullion paper players finally taking one for the team. Hope JPM is next. Appears there is a LOC (loss of control) in progress.

    "Canada’s Bank of Nova Scotia, for years one of the leading bullion traders with a business that dates back to the 17th century, told staff in April it was shuttering its precious metals unit."

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    good insight from a bullion trader on what recently happened in the gold market

    "But for change to happen, we need those that have sat at the top realise that this is not their market, and it is not their cash cow to sit upon and dictate. This market is that of the miners, the recyclers, the refiners and the consumers and we need to provide solutions for them."

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • blitzdudeblitzdude Posts: 2,610 ✭✭✭✭✭

    @derryb said:
    good insight from a bullion trader on what recently happened in the gold market

    "But for change to happen, we need those that have sat at the top realise that this is not their market, and it is not their cash cow to sit upon and dictate. This market is that of the miners, the recyclers, the refiners and the consumers and we need to provide solutions for them."

    But in the real world change will never happen and it is absolutely 100% "THEIR" market. Keep waiting for the unraveling, although you or I will never see it.

  • derrybderryb Posts: 29,163 ✭✭✭✭✭
    edited May 29, 2020 2:01PM

    The unraveling continues. . .

    "Gold trading banks are preparing to significantly reduce their positions on CME Group’s Comex exchange."

    "Many banks have already reduced their day-to-day trading on Comex since the market disruption but they are worried that prices could diverge again and some now intend to reduce their open positions by between 50%-75%, sources at six lenders said."

    "Banks are the exchange’s single biggest user group, accounting for more than a third of all Comex contracts. At issue are contracts owned by the banks worth as much as $45 billion, equivalent to around 800 tonnes of gold, according to Comex data."

    Bullish for gold as banks are concerned they can't short gold without the risk of going bust; HSBC recently reported a $200 million paper loss in a single day and Canada's CIBC lost $64 million in a day on paper in gold market turmoil. If they can't handle the volatility with gold, they should really steer clear of the silver futures market.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • MsMorrisineMsMorrisine Posts: 23,760 ✭✭✭✭✭

    reduce trading => derryb happy

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    derryb not happy until COMEX has no control over physical price. Let the buyers and sellers of physical metal determine the price.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • blitzdudeblitzdude Posts: 2,610 ✭✭✭✭✭

    OMG! It's finally happening. My shinys up $9 bucks!

    Why do the doomsday conspiracy guys always believe these "manipulators" are suppressing the price and not inflating the price?

  • OPAOPA Posts: 16,071 ✭✭✭✭✭

    @derryb said:
    derryb not happy until COMEX has no control over physical price. Let the buyers and sellers of physical metal determine the price.

    Mm, that's an interesting thought, what would happen to the price of a commodity w/o speculators. I suppose the old adage of supply and demand would be applicable. But then you need to ask yourself, how much gold or silver is in the supply chain compared to the need of physical demand?

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 29,163 ✭✭✭✭✭

    @OPA said:

    @derryb said:
    derryb not happy until COMEX has no control over physical price. Let the buyers and sellers of physical metal determine the price.

    Mm, that's an interesting thought, what would happen to the price of a commodity w/o speculators. I suppose the old adage of supply and demand would be applicable. But then you need to ask yourself, how much gold or silver is in the supply chain compared to the need of physical demand?

    Recent increase in spread of spot vs. physical provides the answer to your question.

    "I don’t have a crystal ball. But I do have history books." - Frank Giustra

  • AzurescensAzurescens Posts: 2,194 ✭✭✭✭✭

    @blitzdude said:
    OMG! It's finally happening. My shinys up $9 bucks!

    Why do the doomsday conspiracy guys always believe these "manipulators" are suppressing the price and not inflating the price?

    Probably because that's precisely what is being done, what has been done, and is what they've been caught illegally doing.

    I don't think it has anything to do with doomsday, but does have a lot to do with conspiracy, and their track record doing this one very specific thing.

    B)

  • cohodkcohodk Posts: 16,303 ✭✭✭✭✭

    @derryb said:

    @OPA said:

    @derryb said:
    derryb not happy until COMEX has no control over physical price. Let the buyers and sellers of physical metal determine the price.

    Mm, that's an interesting thought, what would happen to the price of a commodity w/o speculators. I suppose the old adage of supply and demand would be applicable. But then you need to ask yourself, how much gold or silver is in the supply chain compared to the need of physical demand?

    Recent increase in spread of spot vs. physical provides the answer to your question.

    Lol....the physical market cant even determine price now when it has a benchmark (futures).

    Ive seen 100oz bars rot on the BST until futures actual went to the sellers asking price. And that was only an $1850 trade. The seller will never be able to unload even a small trade like this without a global pricing mechanism.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
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