Today's Silver Stock Report email
Deadhorse
Posts: 3,720 ✭
No, I'm not going to the trouble of creating a link to his links, you can cut and paste them in if you are interested:
Take Delivery!
(Most silver is like other silver!)
Silver Stock Report
by Jason Hommel, August 29th, 2008
Sorry. My last email earlier today was blank for many people. The highest price bid for the 25 bars of silver was $4.01 over spot. For all the bids, and more, see:
http://silverstockreport.com/2008/auction-closed.html
In case you miss an email, you can always check out the archive of "all articles", here:
http://silverstockreport.com/ssrarchive.htm
Some people have suggested that if I believe there is a shortage of silver, why not "take delivery at the COMEX?"
Well, I have taken delivery of physical silver, but not at the COMEX. But the effect on silver, and the effect on COMEX is just the same. See, if I buy "extra silver" from a coin shop, then that coin shop does not have to sell their "extra silver" to the refiner, where their "extra silver" may end up at the COMEX. See, silver is fungible. It does not really matter what form of silver you get it, or where you get it, taking delivery of real silver from a coin shop puts the squeeze on COMEX silver all the same.
In fact, if I think COMEX is likely to default, then COMEX should be the last place where I should go to get silver. After all, if there are several different places to get silver, and if one is expected to default, you'd be sure to avoid that company too, wouldn't you?
So all the nay-sayers, who claim there is plenty of silver (while they have none to sell), who tell us to "just take delivery at the COMEX" (while their own companies seem incapable of taking delivery at the COMEX, because they have no 1000 oz. bars to sell either) are, at best, woefully uninformed about the basic assumptions we are making. At worst, they are lying on purpose, to hide their impending bankruptcy. In fact, a failure to deliver silver to their own customers on a timely basis who have paid for silver, is the very definition of bankruptcy. But for some reason, silver buyers are some of the most patient and kind creditors of all, because they, for some reason, don't demand forclosure or government prosecution on the businesses that cannot deliver on their promises. Maybe that's because silver buyers don't trust the government in the first place. That's good news for those who lie about an abundance of silver, while they don't have any.
Ironically, the nay-sayers say the same thing we do at this point. TAKE DELIVERY, and GET PHYSICAL!
My auction proved something. I was saying there was a premium on 100 oz. bars, and that it was difficult to source any. My auction proved that, to the tune of $44,000.
Also, in nearly every email, I try to tell my subscribers where you can get silver.
But those who claim there is no shortage, make absolutely no effort to tell you where you can get any, without having to "wait indefinitely". Isn't that telling?
======
May I suggest to Meet up other Silver Stock Report readers at YOUR LOCAL COIN SHOP, on Tuesday, September 2, at 2PM.
Suppose if all buyers during a month show up all at once? Clearly, the shop will be sold out immediately, if it isn't already. I think that would leave an impression on the owner.
This will serve several purposes:
1. You will find out that you are not alone.
2. You will impress upon your dealer the amount of demand for silver.
3. The coin shop owner will be more confident and more likely to raise his bids to get silver for everyone, so it's in your own best long term interests to show up.
4. Be sure to tell him about good sources, such as fidelitrade.com, amark.com ($50,000 minimum), wexfordcoin.com ($10,000 minimum), apmex.com, tulving.com, and others where he can buy in bulk, cheaply, if he needs to.
5. Be prepared to network with other buyers. Other buyers may have bars to sell if they are retired, and "all in"; they may have to sell bars for normal life expenses.
I suggest that everyone visit their favorite local coin shop on September 2, at 2PM. That's Tuesday, 4 days from now. (TWO's-Day) Easy to remember!
Sincerely,
Jason Hommel
------------------------------------------------------------
You can easily subscibe to the email, just follow one of the links in the letter and navigat to a subscription link.
It's free!
DH
Take Delivery!
(Most silver is like other silver!)
Silver Stock Report
by Jason Hommel, August 29th, 2008
Sorry. My last email earlier today was blank for many people. The highest price bid for the 25 bars of silver was $4.01 over spot. For all the bids, and more, see:
http://silverstockreport.com/2008/auction-closed.html
In case you miss an email, you can always check out the archive of "all articles", here:
http://silverstockreport.com/ssrarchive.htm
Some people have suggested that if I believe there is a shortage of silver, why not "take delivery at the COMEX?"
Well, I have taken delivery of physical silver, but not at the COMEX. But the effect on silver, and the effect on COMEX is just the same. See, if I buy "extra silver" from a coin shop, then that coin shop does not have to sell their "extra silver" to the refiner, where their "extra silver" may end up at the COMEX. See, silver is fungible. It does not really matter what form of silver you get it, or where you get it, taking delivery of real silver from a coin shop puts the squeeze on COMEX silver all the same.
In fact, if I think COMEX is likely to default, then COMEX should be the last place where I should go to get silver. After all, if there are several different places to get silver, and if one is expected to default, you'd be sure to avoid that company too, wouldn't you?
So all the nay-sayers, who claim there is plenty of silver (while they have none to sell), who tell us to "just take delivery at the COMEX" (while their own companies seem incapable of taking delivery at the COMEX, because they have no 1000 oz. bars to sell either) are, at best, woefully uninformed about the basic assumptions we are making. At worst, they are lying on purpose, to hide their impending bankruptcy. In fact, a failure to deliver silver to their own customers on a timely basis who have paid for silver, is the very definition of bankruptcy. But for some reason, silver buyers are some of the most patient and kind creditors of all, because they, for some reason, don't demand forclosure or government prosecution on the businesses that cannot deliver on their promises. Maybe that's because silver buyers don't trust the government in the first place. That's good news for those who lie about an abundance of silver, while they don't have any.
Ironically, the nay-sayers say the same thing we do at this point. TAKE DELIVERY, and GET PHYSICAL!
My auction proved something. I was saying there was a premium on 100 oz. bars, and that it was difficult to source any. My auction proved that, to the tune of $44,000.
Also, in nearly every email, I try to tell my subscribers where you can get silver.
But those who claim there is no shortage, make absolutely no effort to tell you where you can get any, without having to "wait indefinitely". Isn't that telling?
======
May I suggest to Meet up other Silver Stock Report readers at YOUR LOCAL COIN SHOP, on Tuesday, September 2, at 2PM.
Suppose if all buyers during a month show up all at once? Clearly, the shop will be sold out immediately, if it isn't already. I think that would leave an impression on the owner.
This will serve several purposes:
1. You will find out that you are not alone.
2. You will impress upon your dealer the amount of demand for silver.
3. The coin shop owner will be more confident and more likely to raise his bids to get silver for everyone, so it's in your own best long term interests to show up.
4. Be sure to tell him about good sources, such as fidelitrade.com, amark.com ($50,000 minimum), wexfordcoin.com ($10,000 minimum), apmex.com, tulving.com, and others where he can buy in bulk, cheaply, if he needs to.
5. Be prepared to network with other buyers. Other buyers may have bars to sell if they are retired, and "all in"; they may have to sell bars for normal life expenses.
I suggest that everyone visit their favorite local coin shop on September 2, at 2PM. That's Tuesday, 4 days from now. (TWO's-Day) Easy to remember!
Sincerely,
Jason Hommel
------------------------------------------------------------
You can easily subscibe to the email, just follow one of the links in the letter and navigat to a subscription link.
It's free!
DH
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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Comments
I also believe the current price is highly undervalued and both Silver and Gold represent a golden (pardon the pun) opportunity for making money.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Jim
<< <i>I am not so sure if there is such a physical shortage as everybody is saying, its just in limited supply currently due to everybody being in it so high! As time goes by , the weaker hands will fold and sell which will bring the supplys back to equilibrium. It already starting to happen here locally, as more cave in.
Jim >>
Oh, that's true no doubt. However, investment silver is only a small percentage of the overall picture.
I also know that many wholesalers are sitting on large lots as well. They are simply holding on till a set price is hit.
From what I have heard, that price is $18 at the wholesale level.
Still, having said that, I do believe we are in the starting period of actual physical shortages. We've been operating at a defecit for decades now as far as supply for jewelry, photography and industrial when compared to mined production. That has now caught up with us, you simply can't use over twice as much as you produce forever. In addition, new technical uses are being developed regularly. Silver has valuable and unique properties that no other metal can match and there is no substitute.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
That may have skewed the results in his favor a bit.
<< <i>JM and Engelhard bars always seem to command an extra premium over other bullion brands.
That may have skewed the results in his favor a bit. >>
No maybe to it!
Still, not $4 over spot based on brand alone.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff