If they are the custodian, why would new "physical" ounces have to be created/purchased? Couldn't they purchase contracts, transfer those "in kind" and obtain shares? The only entity that could pull that off would be the custodian if it was possible.
Maybe a leased option makes more sense but you never know with these clowns
If they are the custodian, why would new "physical" ounces have to be created/purchased?
Because the Prospectus for the SLV shares says that they hold physical metal for all of the shares in the fund?
Couldn't they purchase contracts, transfer those "in kind" and obtain shares? The only entity that could pull that off would be the custodian if it was possible.
Shares and contracts aren't physical metal, and if you believe what they want you to believe, there is metal held in vaults backing the shares. The custodian is just another layer of insulation in another country to insulate against any legal challenges or performance of due diligence, imo.
Q: Are You Printing Money? Bernanke: Not Literally
Oh, what a long strange (round) trip it's been from 23 to 49 and back again! Remember these blasts from the past:
<< <i>Glenn Beck started pumping silver during the last month as well as gold. Any connection to the latest run from $30 to $40? If there is, its just another of many such examples to come, from all kinds of sources throughout the world. Looking for the first sell target of $104.00, and then the Grandaddy of them all run to the $360.00 area, looking to unload all in the $240.00 range. During the extreme spike run up its hard to catch the top, so i'll settle for the $240.00 area. It may only spend a few days in the $360.00 range, but its going to look very satisfying on the chart. >>
<< <i>Next summer.....and oil is at.....$20 per gal.....gold is.....$3300....armed guards at grocery stores??? Not then, following winter, when silver is at....$200, and oil is at.....$600/barrel....and gold is $5000. Houses have lost half of their value at best and the dollar is pronounced dead at DXY 44. . >>
<< <i>
<< <i>Anybody buying today's dip? Thinking about it here... >>
<< <i>Congratulations to silver and those who own it, new 30 year high: $49.75+ (Comex Silver Contract) >>
Wheeee!
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Until it's not. They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it.
Until it's not. They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it. >>
Ahhhhhh
Well said
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Until it's not. They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it. >>
Yup, stuff runs in cycles. In 2009 the CRB index was just about back down to those 1999 and 2002 lows. Buying commodities at all time lows is a bit different than buying at all time highs. Silver is still 4x higher than 10 years ago. Even at $12 it would be up 3 fold. Not a bad return.....unless you bought in at $25. Silver is at the same price as in 2008 before QE. Its got some 'splaining to do.
I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades. >>
thats a maybe, in my lifetime when 2008-09 hit and ag n au got slammed, i dont think it was hated, maybe im wrong, but it was fear & deleveraging from losing margin positions??? one had to identify that i believe to pounce then, or maybe that was my thought process...
Until it's not. They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it. >>
Yup, stuff runs in cycles. In 2009 the CRB index was just about back down to those 1999 and 2002 lows. Buying commodities at all time lows is a bit different than buying at all time highs. Silver is still 4x higher than 10 years ago. Even at $12 it would be up 3 fold. Not a bad return.....unless you bought in at $25. Silver is at the same price as in 2008 before QE. Its got some 'splaining to do. >>
True, silver is nowhere near its bottom of 10 years ago however it is well off its highs. So what do I do with my money today? Do I buy stocks at all time highs when they've gone up in a straight line for years with only the shallowest of corrections? Do I put my money is treasuries which yield less than 2%? Do I put my money in cd's, money markets, and savings accounts which yield less than 1%? I put money into commodities because I really don't have an alternative that I'm comfortable with. I don't think pm's are a screaming buy right now but I won't put new money to work in stocks at all time highs and bonds have no upside and nothing but downside risk.
You sit on the sidelines with the rest of the smart money until markets bottom out. Then you jump in with both feet. Cash is an asset, treat it like one. Hold it until a better asset appears.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
You sit on the sidelines with the rest of the smart money until markets bottom out. Then you jump in with both feet. Cash is an asset, treat it like one. Hold it until a better asset appears. >>
Agreed 100%. There is no substitute for liquidity. Sometimes it can take years for opportunity to present itself but you will be happy if you can take advantage when it comes.
<< <i>I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades. >>
The talking heads on TV definitely hate Silver and Gold. >>
There is a difference in a few people constantly bashing PMs and many people bashing it just once. I hear just as many talk favorably as negatively. PMs are not hated. In 1996, PMs were hated... And it still took a decade to make and real money in them.
Interesting roller coaster of emotions in this thread.
Silver does seem to be more closely associated with emotion than most other assets. Maybe it's because physical silver is more within reach of more people's budgets, and it's a physical asset that exists in the here & now.
Silver has seen both panic buying and panic selling on various occasions. When panic buying happens, there isn't much time to jump in with both feet and the same goes for jumping out with both feet.
I think it's about positioning as much as it is about timing. When you want in, it's already gone unless you bite at the higher prices. And so it goes.
And paper silver? Yes, there's a time & place for it, but it's not for me right now.
Q: Are You Printing Money? Bernanke: Not Literally
Typical CNBC. Major markets could not handle the sell off that would be created with the dollar index level it would take to send silver to the suggested $10. Puppet masters know this and would prevent such a move in the dollar. Too strong a dollar in the current environment would be catastrophic for the economy. Will not see the dollar index climb past $105 in the short term - FOMC will not allow it. They took it down recently at $100.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I wonder what the great 8 ball dollar index was when silver was last at $10 and also when it was at $10 before that.... I would venture lower than it is now...
<< <i>I wonder what the great 8 ball dollar index was when silver was last at $10 and also when it was at $10 before that.... I would venture lower than it is now... >>
apples and oranges because of QE's massive money supply increases since then. Dollars heavily diluted since then. Had silver supply seen some QE as well then we could talk apples and apples.
Short term dollar index will not exceed $105 and silver will not drop to $10 as long as the index is below $105.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>I wonder what the great 8 ball dollar index was when silver was last at $10 and also when it was at $10 before that.... I would venture lower than it is now... >>
Was in high 80s. So silver at 17 with the dollar index at 95 shows the inflation everyone was expecting, although it don't think it was exactly as expected.
Originally posted by: DoubleEagle59 on 1-21-12 Possible future scenario........
In the year 2015, silver hits a high of $145 an ounce and then in one week crashes to $85.
Baley posts..."silver stuck at $85"
Well, this has been an interesting read. Haven't seen a run like 2009 to 2012 since the Hunt Bros 35 years ago. Now we could be stuck at $14.5 ( a bit of an adjustment on the decimal placement compared to how that $145 prediction went).
Fun read. Lessons remain the same. Learn to swim, or sink, or drown or wade, or dabble or splash… But don't hold your breath.
Been peddling these pedals a long time, on this cycle that keeps recycling. And this thread is reborn. Thanks. We all should have jumped into buying from the time of my last post.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@blitzdude said:
10 years later. Only $28.50 more to go. lol
Just how underwater is your silver? Man, you should have been selling when you were buying. Hope you figured it out this time around.
Not underwater at all. My prediction is 5 years from now silver will be $10 and you will still be underwater talking about selling singles on eBay to supplement all your entitlements.
Linking every conspiracy article under the sun trying to convince all the newbies that JPM ruined your life but not to worry because the comex is really about to implode and you better hurry up and get some now!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Comments
Maybe a leased option makes more sense but you never know with these clowns
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
Because the Prospectus for the SLV shares says that they hold physical metal for all of the shares in the fund?
Couldn't they purchase contracts, transfer those "in kind" and obtain shares? The only entity that could pull that off would be the custodian if it was possible.
Shares and contracts aren't physical metal, and if you believe what they want you to believe, there is metal held in vaults backing the shares. The custodian is just another layer of insulation in another country to insulate against any legal challenges or performance of due diligence, imo.
I knew it would happen.
<< <i>Glenn Beck started pumping silver during the last month as well as gold. Any connection to the latest run from $30 to $40?
If there is, its just another of many such examples to come, from all kinds of sources throughout the world. Looking for the
first sell target of $104.00, and then the Grandaddy of them all run to the $360.00 area, looking to unload all in the $240.00 range.
During the extreme spike run up its hard to catch the top, so i'll settle for the $240.00 area. It may only spend a few days in the $360.00
range, but its going to look very satisfying on the chart. >>
<< <i>Next summer.....and oil is at.....$20 per gal.....gold is.....$3300....armed guards at grocery stores??? Not then, following winter, when silver is at....$200, and oil is at.....$600/barrel....and gold is $5000. Houses have lost half of their value at best and the dollar is pronounced dead at DXY 44.
. >>
<< <i>
<< <i>Anybody buying today's dip? Thinking about it here... >>
Does $806,680 (AGQ @335) count? >>
Liberty: Parent of Science & Industry
<< <i>New High? When someone lights a match to the paper market and the curtain is pulled to expose the wizard. Until then continued ups and downs. >>
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>Hindsight. Anyone short at 49?? Anyone shorting today? >>
Plenty of warning of an untimely demise was given weeks ago in the 28-30 range.
Knowledge is the enemy of fear
<< <i>
<< <i>Hindsight. Anyone short at 49?? Anyone shorting today? >>
Plenty of warning of an untimely demise was given weeks ago in the 28-30 range. >>
Hindsight again, me thinks.
<< <i>Congratulations to silver and those who own it, new 30 year high: $49.75+ (Comex Silver Contract) >>
Wheeee!
<< <i>But will wheeeeeee ever see it again???? >>
Along with NASDAQ 5,000.
Knowledge is the enemy of fear
<< <i>Silver is done..over..kaput! >>
Until it's not.
They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it.
<< <i>
<< <i>Silver is done..over..kaput! >>
Until it's not.
They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it. >>
Ahhhhhh
Well said
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades.
Knowledge is the enemy of fear
<< <i>
<< <i>Silver is done..over..kaput! >>
Until it's not.
They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it. >>
Yup, stuff runs in cycles. In 2009 the CRB index was just about back down to those 1999 and 2002 lows. Buying commodities at all time lows is a bit different than buying at all time highs. Silver is still 4x higher than 10 years ago. Even at $12 it would be up 3 fold. Not a bad return.....unless you bought in at $25. Silver is at the same price as in 2008 before QE. Its got some 'splaining to do.
Knowledge is the enemy of fear
<< <i>Buy the most hated investment
I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades. >>
thats a maybe, in my lifetime when 2008-09 hit and ag n au got slammed, i dont think it was hated, maybe im wrong, but it was fear & deleveraging from losing margin positions???
one had to identify that i believe to pounce then, or maybe that was my thought process...
<< <i>
<< <i>
<< <i>Silver is done..over..kaput! >>
Until it's not.
They said that about commodities in 1999 when the CRB index hit all time lows and then rallied on to all time highs within 10 years. They said that about the stock market in 2008 when the S&P 500 went to 666 and here we are 6 years later at all time highs again. Every investment is cyclical and silver at $19 per ounce is a buying opportunity for those who are patient. Buy the most hated investment when everyone tells you what an idiot you are for buying it. >>
Yup, stuff runs in cycles. In 2009 the CRB index was just about back down to those 1999 and 2002 lows. Buying commodities at all time lows is a bit different than buying at all time highs. Silver is still 4x higher than 10 years ago. Even at $12 it would be up 3 fold. Not a bad return.....unless you bought in at $25. Silver is at the same price as in 2008 before QE. Its got some 'splaining to do. >>
True, silver is nowhere near its bottom of 10 years ago however it is well off its highs. So what do I do with my money today? Do I buy stocks at all time highs when they've gone up in a straight line for years with only the shallowest of corrections? Do I put my money is treasuries which yield less than 2%? Do I put my money in cd's, money markets, and savings accounts which yield less than 1%? I put money into commodities because I really don't have an alternative that I'm comfortable with. I don't think pm's are a screaming buy right now but I won't put new money to work in stocks at all time highs and bonds have no upside and nothing but downside risk.
<< <i>I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades. >>
The talking heads on TV definitely hate Silver and Gold.
<< <i>So what do I do with my money today? >>
You sit on the sidelines with the rest of the smart money until markets bottom out. Then you jump in with both feet. Cash is an asset, treat it like one. Hold it until a better asset appears.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>
<< <i>So what do I do with my money today? >>
You sit on the sidelines with the rest of the smart money until markets bottom out. Then you jump in with both feet. Cash is an asset, treat it like one. Hold it until a better asset appears. >>
Agreed 100%. There is no substitute for liquidity. Sometimes it can take years for opportunity to present itself but you will be happy if you can take advantage when it comes.
Knowledge is the enemy of fear
<< <i>
<< <i>I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades. >>
The talking heads on TV definitely hate Silver and Gold. >>
There is a difference in a few people constantly bashing PMs and many people bashing it just once. I hear just as many talk favorably as negatively. PMs are not hated. In 1996, PMs were hated... And it still took a decade to make and real money in them.
Knowledge is the enemy of fear
Liberty: Parent of Science & Industry
Silver does seem to be more closely associated with emotion than most other assets. Maybe it's because physical silver is more within reach of more people's budgets, and it's a physical asset that exists in the here & now.
Silver has seen both panic buying and panic selling on various occasions. When panic buying happens, there isn't much time to jump in with both feet and the same goes for jumping out with both feet.
I think it's about positioning as much as it is about timing. When you want in, it's already gone unless you bite at the higher prices. And so it goes.
And paper silver? Yes, there's a time & place for it, but it's not for me right now.
I knew it would happen.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>
<< <i>I agree and am waiting for silver to be hated. Might take a long time for the love to be broken as we have seen in previous decades. >>
The talking heads on TV definitely hate Silver and Gold. >>
And they've been right, haven't they?
"Over the course of the next few weeks I expect silver to stay in this $15 to $17 range," he said. "But once this thing starts to roll to the downside again we could see a 13 handle, which would be the first time we've seen that since 2009." That's a more than 20 percent decline from current levels. A move past $13 could open the flood gates for even steeper declines, said Curry. "Long term we could get as low as $10."
Liberty: Parent of Science & Industry
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>I wonder what the great 8 ball dollar index was when silver was last at $10 and also when it was at $10 before that.... I would venture lower than it is now... >>
apples and oranges because of QE's massive money supply increases since then. Dollars heavily diluted since then. Had silver supply seen some QE as well then we could talk apples and apples.
Short term dollar index will not exceed $105 and silver will not drop to $10 as long as the index is below $105.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>I wonder what the great 8 ball dollar index was when silver was last at $10 and also when it was at $10 before that.... I would venture lower than it is now... >>
Was in high 80s. So silver at 17 with the dollar index at 95 shows the inflation everyone was expecting, although it don't think it was exactly as expected.
Knowledge is the enemy of fear
It was a fun read just now!
My YouTube Channel
Liberty: Parent of Science & Industry
Liberty: Parent of Science & Industry
Possible future scenario........
In the year 2015, silver hits a high of $145 an ounce and then in one week crashes to $85.
Baley posts..."silver stuck at $85"
Well, this has been an interesting read. Haven't seen a run like 2009 to 2012 since the Hunt Bros 35 years ago. Now we could be stuck at $14.5 ( a bit of an adjustment on the decimal placement compared to how that $145 prediction went).
Fun read. Lessons remain the same. Learn to swim, or sink, or drown or wade, or dabble or splash… But don't hold your breath.
Something to look forward to.
Knowledge is the enemy of fear
Silver over $21 this morning....We shall see if it holds....Cheers, RickO
Remember this time well - sold all but 2 of my ASEs tubes for $1040 to my local B&M...
Been peddling these pedals a long time, on this cycle that keeps recycling. And this thread is reborn. Thanks. We all should have jumped into buying from the time of my last post.
I got caught up in the irrational exuberance back then. Silver's got to get to $21.51 for my silver stack to break even.
Here's a warning parable for coin collectors...
Are we having fun yet?
10 years later. Only $28.50 more to go. lol
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Just how underwater is your silver? Man, you should have been selling when you were buying. Hope you figured it out this time around.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Not underwater at all. My prediction is 5 years from now silver will be $10 and you will still be underwater talking about selling singles on eBay to supplement all your entitlements.
Linking every conspiracy article under the sun trying to convince all the newbies that JPM ruined your life but not to worry because the comex is really about to implode and you better hurry up and get some now!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Looks like there's room to run between here ($21.32) and $$49.82.
Hey blitz, you better start selling now if it's going to $10. Let me know how it goes....
I knew it would happen.
Will certainly sell into the pump and buy more near $10. Just like the last 2 times.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™