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Merit Gold & Silver; Going Out of Business

OPAOPA Posts: 17,104 ✭✭✭✭✭
Another bullion dealer "hits the dust."

Coinweek article
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."

Comments

  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    hopefully they disconnected all of their telemarketers' phones.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    There is gold and silver readily available through millions of vendors.
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭
    The big guys are going strong and stronger

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭


    << <i>There is gold and silver readily available through millions of vendors. >>




    Can you think of any? image

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭


    << <i>

    << <i>There is gold and silver readily available through millions of vendors. >>




    Can you think of any? image >>

    Sure… PM me, I can sell you some. Not a lot, but I can find it for you ALL DAY LONG
  • cohodkcohodk Posts: 18,554 ✭✭✭✭✭
    The elimination of market players (manipulators) image, is the first step toward metals reaching a bottom.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    The market has spoken again. Good competition removes the bad.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I guess if we got rid of all the farmers (ie manipulators) then we could see food prices seek their true market levels. And we're well on the way to removing most of them from the market. image

    Tulving was one of the first metal dealers to go. When there's a large demand for a product, dealers spring up to fill that demand. We see that in every coin boom/bust cycle where dealers proliferate for several years and then disappear again.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>I guess if we got rid of all the farmers (ie manipulators) then we could see food prices seek their true market levels. And we're well on the way to removing most of them from the market. image

    Tulving was one of the first metal dealers to go. When there's a large demand for a product, dealers spring up to fill that demand. We see that in every coin boom/bust cycle where dealers proliferate for several years and then disappear again. >>



    Actually, we see that not only in coin/pm's, but also in the overall market. The strong and able to adjust to market conditions survive and the weak get trampled.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 18,554 ✭✭✭✭✭
    Bullion peddlers are the same as farmers? Shaking my head.

    Bullion peddlers are just middlemen. Middlemen are largely useless.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,118 ✭✭✭✭✭


    << <i>Bullion peddlers are the same as farmers? Shaking my head.

    Bullion peddlers are just middlemen. Middlemen are largely useless. >>


    Middlemen (retailers) are the backbone of production distribution and US jobs. Middlemen allow producers to concentrate on production and not on consumer sales.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭


    << <i>Bullion peddlers are the same as farmers? Shaking my head.

    Bullion peddlers are just middlemen. Middlemen are largely useless. >>




    image
    image
    Gee, no PMs yet. image
    I resemble that statement. But some of us have to be useless with something.
  • cohodkcohodk Posts: 18,554 ✭✭✭✭✭


    << <i>

    << <i>Bullion peddlers are the same as farmers? Shaking my head.

    Bullion peddlers are just middlemen. Middlemen are largely useless. >>


    Middlemen (retailers) are the backbone of production distribution and US jobs. Middlemen allow producers to concentrate on production and not on consumer sales. >>



    Spoken like a middleman.

    I see no use for them. Airline ticket agents--dont need em. Stock "brokers"--dont need em. Car salesmen--dont need em. Real estate agents--dont need em.


    Point is, during the boom, everyone was a PM distributor or purveyor or misinformation, just like in every bubble. Wont be a healthy market until many are destroyed.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,118 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Bullion peddlers are the same as farmers? Shaking my head.

    Bullion peddlers are just middlemen. Middlemen are largely useless. >>


    Middlemen (retailers) are the backbone of production distribution and US jobs. Middlemen allow producers to concentrate on production and not on consumer sales. >>



    Spoken like a middleman.

    I see no use for them. Airline ticket agents--dont need em. Stock "brokers"--dont need em. Car salesmen--dont need em. Real estate agents--dont need em.


    Point is, during the boom, everyone was a PM distributor or purveyor or misinformation, just like in every bubble. Wont be a healthy market until many are destroyed. >>


    Many retailers have been destroyed since 08. How many more unemployed will it take to make our markets healthy?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • jmski52jmski52 Posts: 22,308 ✭✭✭✭✭
    Middlemen (retailers) are the backbone of production distribution and US jobs. Middlemen allow producers to concentrate on production and not on consumer sales. >>

    Spoken like a middleman.

    I see no use for them. Airline ticket agents--dont need em. Stock "brokers"--dont need em. Car salesmen--dont need em. Real estate agents--dont need em.



    True enough, but there is a cost to finding and executing your own transactions and the degree of expertise needed in each situation is what really determines the value added for any type of middleman. I'll be the first in line to advocate doing your own market research for cars or housing, however.....

    I used to shop around to find the source of some of the products that were "overpriced" by their distributors and in some cases I could save over 50% just by going to the source. The flip side of that is that I wasn't engaging in my own area of expertise while I was doing all of that shopping around. Net value to the company = questionable.

    There will also be times when you simply can't gain access to the supply unless you contact a reliable specialist in the field, and in the precious metals markets a good dealer is an asset, not a liability. It beats meeting someone from Craigslist in the Walmart parking lot with a pocketful of cash to do a deal.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>

    << <i>

    << <i>Bullion peddlers are the same as farmers? Shaking my head.

    Bullion peddlers are just middlemen. Middlemen are largely useless. >>


    Middlemen (retailers) are the backbone of production distribution and US jobs. Middlemen allow producers to concentrate on production and not on consumer sales. >>



    Spoken like a middleman.

    I see no use for them. Airline ticket agents--dont need em. Stock "brokers"--dont need em. Car salesmen--dont need em. Real estate agents--dont need em.


    Point is, during the boom, everyone was a PM distributor or purveyor or misinformation, just like in every bubble. Wont be a healthy market until many are destroyed. >>



    Each of those you named are agents and not middlemen. Agents act as a buyer or seller agent and add value as perceived by the contractee. A middleman carries inventory such as a car dealer in the way of cars, a brokerage house in the way of negotiable instruments (stocks, bonds, comm paper, etc) or an airline (seats on a plane). They add to market liquidity by acting as market makers. They are 100% necessary for an orderly market.
  • cohodkcohodk Posts: 18,554 ✭✭✭✭✭
    Then why have I been able to buy an airline ticket, trade stocks, buy a car, and buy a house without them?

    There are lots more examples, and bullion hucksters....well, we'll just leave it at that.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,118 ✭✭✭✭✭


    << <i>Then why have I been able to buy an airline ticket, trade stocks, buy a car, and buy a house without them?

    There are lots more examples, and bullion hucksters....well, we'll just leave it at that. >>


    Because they priced themselves out of the labor market (wages, benefits) and were replaced by a robot (a computer).

    Meet "McCashier" Your $15.00 Per Hour McDonald's Worker Replacement

    The decline from democracy to tyranny is both a natural and inevitable one.

  • ProofCollectionProofCollection Posts: 5,321 ✭✭✭✭✭
    The Internet is making it harder for companies to overcharge.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭


    << <i>Then why have I been able to buy an airline ticket, trade stocks, buy a car, and buy a house without them?

    There are lots more examples, and bullion hucksters….well, we'll just leave it at that. >>



    Business is business. A middleman is flying you to your destination. A middle man is putting in your order to trade. A middleman is detailing that car, and a middleman is obtaining the deed to your lovely home from somewhere.
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Think he is referring to presumed commisionable transactions???... Maybe...
    keceph `anah
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