Billionaire Silver Whale buys 900,000 ASEs
derryb
Posts: 36,937 ✭✭✭✭✭
Disclosed by coin dealer Andy Schechtman of Miles Franklin Precious Metals who reportedly filled her order and is, per her instructions, sharing the order with the public.
Interview with the dealer. Clip on "View" to access the clip.
"Billionaire wired $50 million To Miles Franklin Precious Metals. Bought 900,000 silver eagles, junk silver and gold. She claims it is first of several such orders."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
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Comments
Wow! Hope she buys the billion
Saw that story. Wonder what her plan is... buy enough to cause prices to rise even more, then sell off? Inflation hedge? Just another stacker with lots to spend?
Blythe Masters strikes again. Wonder what gutter premiums are running in Bulgaria these days? Wonder if they celebrate Groundhog Day over there???
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Hey, if you want to call the Miles Franklin salesman a liar, go for it. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Time will tell.
I knew it would happen.
Is that a lot? What premium over spot did she pay?
From the blog, "We have seen this before, and chances are so have you"
Does that mean we've seen stories like this in the past and nothing have ever come from it?
Knowledge is the enemy of fear
Reminds me of the '80's when the Hunt brothers tried to corner the silver market.
I know two people who lost a fair amount on that fiasco. Cheers, RickO
heard they are still in bancruptcy what a shame that was
Hopefully only half the $50 million went towards the eagles.
And that's almost 31 tons of silver eagles. A (roughly) equivalent dollar volume of gold eagles would weigh less than 1/2 ton.
Hope they gave her a tracking number.
I told them not to tell anybody now you know I am a female Swedish beach volleyball player. You guys are all going to bug me for a deal.
About time ! We hear about Tons of people buying bitcoins and very few buying PM’s even though it’s been used as money for thousands of years. I hope she buys enough so other billionaires see her and decide they don’t want to be left behind and we have a FOMO situation.
MIKE B.
Yeah and I got some swamp land to sell you in Jacksonville. lol
I just bought $50M in gutter metal and I plan to buy up to $950M more but before I do hurry up run out and tell everyone so hopefully the price will rise before I can complete the purchase. Some people will believe anything. Crazy World!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wishful thinking on your part. They didn't become billionaires by being stupid. Current price of silver indicates, they weren't.
Some are billionaires because they were the fastest swimmer and are as dumb as a rock. (I don’t have to explain the fastest swimmer right ? I don’t want to say the word that rhymes with worm I might get canned)
Oh well, looks like gutter's down on the "Whale Newz". Holding out hope that tomorrow will be a good day to purchase some "minnow" fractional Au. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I’ve been wishful thinking about Silver for 50 years. It’s not one of my better investments but I can’t help myself I love old US Gold & Silver coinage. My gold holdings are helping my PM investment returns. Good thing I have an old fashioned pension so when I do retire I won’t have to depend on PM to help. Guess the kids will benefit.
Mike
MIKE B.
Still nowhere near the 40MM ounces the Buffett owned and later dumped, and he didn't change anything.
If I were a whale, I'd swim deep and get it for free on the ocean flo'
she was jealous of that guy who has 20 55-gallon trash bins full of copper cents and the red Ferrari in his garage
I'm waiting to see if she resurfaces as advertised.
I knew it would happen.
Who is this whale and why did she decide to buy no more gutter metal after the promotion that she was ready to buy almost $1Billion more?? Lol
???????
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
she probably is still counting all the ASEs she got from you at a steep discount.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Buffet had managed to procure approx 120 MILL ounces. Martin Armstrong was close to the source and has written about this years ago. Buffet did most of the buying from around 1994-2006. His buying essentially helped to push the silver price up by around 50% in price. It is thought that he was given a "deal" to dump his silver holdings by either the govt or Wall Street Bullion banks, or both. Shortly after he was out of silver the SLV ETF was founded....it needed approx 50-100 MILL ounces of silver to fund it....and ideally from a single source that wouldn't upset the silver market. If I were Buffet I would have requested shares in bullion banks or attractive "buy" prices on whatever I was acquiring. It's also possible that Buffet's silver was used by the bullion banks to cover short bets during the 2004-2008 silver run up. During the 2008-2009 financial crisis Buffet helped to bail out some of the Wall Street banks and was given sweet heart terms in shares. Having played ball with his silver hoard might have helped given him an early seat at the 2008=2009 Banking Crisis Table.
Buffet would have cleaned up in silver had he decided to hold on to his 120 MILL ounces into 2008 or 2011. But I think he was given "an offer he couldn't refuse" and decided to be a Team Player. Buffet's time in silver actually changed quite a bit in the various markets.
It is thought that he was given a "deal" to dump his silver holdings by either the govt or Wall Street Bullion banks, or both.
Buffett has been given some sweet deals and concessions for his business holdings on several occasions when gov.com money is sloshing around. Burlington Northern and Geico come to mind.
I knew it would happen.
We understand you have collected a walmart gun safe full of $40+ ASEs. Perhaps one day you will find a "whale" dumb enough to pay more than you did. My bet is it will never happen. Stack on ACE!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
you guessed wrong on silver but you guessin' right on me? LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Nice to read roadrunner again. Fresh air.
I think you should temper your condescending attitude around here for your own good.
I don't know about "fresh air." Sounds like the same MO that he's been advocating for the last 10+ years. I do miss his Cup and Handle predictions on Silver
So did the whale ever buy the additional 17,100,100 eagles??? Nothing much changes around here except the latest "conspiracy". (and lower gutter prices). THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™