interestrateripoff Posted April 8, 2011 Share Posted April 8, 2011 http://www.zerohedge.com/article/guest-post-guess-whos-almost-out-silver According to Jamie Dimon, he did America a favor when he agreed to take bailout money from taxpayers (and we didn’t even have the decency to thank him). Last week ,we learned that the JP Morgan CEO likes his catastrophe’s predictable, but as Mick Jagger once observed, “You can’t always get what you want.” So in case you’re wondering who might be stupid enough to buy silver at $40, chances are extremely high it’s going to be the guys who sold at $15, $20, $25, 30, 31, 32, 33….. On April 6, Bloomberg reported Comex Silver Stockpiles as of April 5, and if you scroll down through the report, you’ll notice that JP Morgan has enough silver to fill, wait for it, 6 contracts. Yep 30,844 troy ounces, that’s all. ..... Now consider this: Since December, JP Morgan and their customers (whoever they may be) have sold more than 12.2 Million Ounces of physical silver (net). Here’s JP’s activity year-to-date from the Comex report: Charts at the link. Still at least Uncle Ben can come to the rescue if this little speculative punt goes wrong. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted April 8, 2011 Share Posted April 8, 2011 http://www.zerohedge.com/article/guest-post-guess-whos-almost-out-silver Charts at the link. Still at least Uncle Ben can come to the rescue if this little speculative punt goes wrong. ETFs and other "innovatiove" products have allowed gold merchants to sell more gold in a day than has been mined in 20 years! PONZI does not even begin to describe the metals racket. Everytig will come to grief soon. Panic selling. Breakdown in trust. Hitting sell buttons that don't respond because everyone is online doing the same thing. When oil hits $137 it COULD (as in may) be the time to run. Quote Link to comment Share on other sites More sharing options...
azogar Posted April 8, 2011 Share Posted April 8, 2011 unofficial data - "Data comes from the 650 year chart as well as shadow stats aprx data since the start of the Federal Reserve" http://www.thesilverlog.blogspot.com/ vid here ( ) Quote Link to comment Share on other sites More sharing options...
tahoma Posted April 8, 2011 Share Posted April 8, 2011 ETFs and other "innovatiove" products have allowed gold merchants to sell more gold in a day than has been mined in 20 years! PONZI does not even begin to describe the metals racket. Everytig will come to grief soon. Panic selling. Breakdown in trust. Hitting sell buttons that don't respond because everyone is online doing the same thing. When oil hits $137 it COULD (as in may) be the time to run. Yeah, yeah, yeah you were saying this when Silver was $9. Quote Link to comment Share on other sites More sharing options...
Unexpected Posted April 8, 2011 Share Posted April 8, 2011 ETFs and other "innovatiove" products have allowed gold merchants to sell more gold in a day than has been mined in 20 years! PONZI does not even begin to describe the metals racket. Everytig will come to grief soon. Panic selling. Breakdown in trust. Hitting sell buttons that don't respond because everyone is online doing the same thing. When oil hits $137 it COULD (as in may) be the time to run. Just as long as the metals are less PONZI than our fiat £ $ end euro's I feel quite comfortable holding them. Hope you haven't put too much faith in fiat. Quote Link to comment Share on other sites More sharing options...
Errol Posted April 8, 2011 Share Posted April 8, 2011 When the ETF gold system is 'found out', physical gold will immediately shoot up in price. It will be unobtainable to normal people. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted April 8, 2011 Share Posted April 8, 2011 When the ETF gold system is 'found out', physical gold will immediately shoot up in price. It will be unobtainable to normal people. http://en.wikipedia.org/wiki/Unobtainium Quote Link to comment Share on other sites More sharing options...
allillanchoo Posted April 8, 2011 Share Posted April 8, 2011 I'm certainly happy with my silver ETF. Trying not to be greedy though so will start to reduce my holding soon, Quote Link to comment Share on other sites More sharing options...
200p Posted April 8, 2011 Share Posted April 8, 2011 The Westerklief Silverhoard was the first evidence that Vikingen appreciated this as well, and more than that, decided to permanently settle on Wieringen. The silver hoard, containing Carolingian and Arab coins, bracelets and silver ingots, was probably buried in a turned cookingpot by a Danish viking in the ninth century. Amateur archeologists found the hoard with help of metal detectors. aldetector. In total silver objects and coins with a combined weight of 1.7 kgs were found, most of this still in the pot they were originally buried in. For a detailed description of the hoard, see this separate page. The value of the silver hoard was large, even in those days. The silver would buy you a large farm, with lifestock and serfs. It is hard to make any concrete statements regarding the origin of the treasure. We know quite precisely what the different objects are, but why they were put together in a pot and buried will probably remain a riddle. http://www.pagowirense.nl/wr-his2a.asp Quote Link to comment Share on other sites More sharing options...
200p Posted April 8, 2011 Share Posted April 8, 2011 (edited) Let me put it in pictures: Couple of these EQuALS = One of these! NOw hows that for a ramp! Edited April 8, 2011 by Money Spinner Quote Link to comment Share on other sites More sharing options...
Fishfinger Posted April 8, 2011 Share Posted April 8, 2011 When the ETF gold system is 'found out', physical gold will immediately shoot up in price. It will be unobtainable to normal people. I'm not normal. I'm a special lad with special needs Quote Link to comment Share on other sites More sharing options...
Kazuya Posted April 8, 2011 Share Posted April 8, 2011 I'm not normal. I'm a special lad with special needs Indeed, I always did tell you fish fingers do not = gold bullion bars Quote Link to comment Share on other sites More sharing options...
Fishfinger Posted April 9, 2011 Share Posted April 9, 2011 Indeed, I always did tell you fish fingers do not = gold bullion bars Bang on! I chose fishfingers as I couldn't afford gold at the time and Goldfinger was already taken - now is a totally different game.... Quote Link to comment Share on other sites More sharing options...
Britney's Piers Posted April 9, 2011 Share Posted April 9, 2011 (edited) ETFs and other "innovatiove" products have allowed gold merchants to sell more gold in a day than has been mined in 20 years! ...and once they find out they are not holding anything there will be a panicked stampede into physical, and then you will see $xx,xxx gold. It will literally go vertical. Edited April 9, 2011 by Britney's Piers Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted April 9, 2011 Share Posted April 9, 2011 ETFs and other "innovatiove" products have allowed gold merchants to sell more gold in a day than has been mined in 20 years! PONZI does not even begin to describe the metals racket. Everytig will come to grief soon. Panic selling. Breakdown in trust. Hitting sell buttons that don't respond because everyone is online doing the same thing. When Northern Rock was found to be in need of a bailout, depositors realised that the bits of paper bearing the bank's name and lists of numbers - we call them "statements" amounted to nothing. They immediaitely demanded their statements be turned into what they supposed to be "the real thing" - ie fiat money of a physical form. They queued down the streets demanding their "money". Of course, all they ever got were cheques, again bearing Nothern Rock's name, and they weren't happy with those either, taking them straight to another bank and exchanging them for that banks statements. Some then withdrew physical money, foregoing interest in favour of 'certainty'. The point was they believed they had money when it was in the bank, when in actuality all they had were bank promises. Their reaction, overwhelmingly, was to demand money. Not shares. Not commodities. Not bonds. Money. It's what they had. It's what they aquired. It's what they wanted. Money was what they thought they had; money was what they wanted. People with gold etfs think they own gold. It's what they think they have acquired. It's what they want. When these holdings prove to be mere promises from 'gold banks' this desire will not suddenly evaporate. They will not suddenly think their aquisition of 'gold' to be a mistake. They will not immediately decide they no longer want to own gold. And they will not decide they'd rather have shares or bonds or fiat money. they will want all the more what they wanted all along. Quote Link to comment Share on other sites More sharing options...
MongerOfDoom Posted April 9, 2011 Share Posted April 9, 2011 http://www.zerohedge...most-out-silver Can someone please explain why this is a big deal and not a hysterical rant? The whole point of a market is that people who disagree about the values of two assets can swap them. Exactly what is the problem with someone not wanting a position in something that has been soaring recently? I don't recall anyone on here complaining the banks did not have enough mortgage backed securities back when the housing market was skyrocketing .... Even if the implication is that they have a massively short position rather than a neutral one, there is still no inherent problem and no obvious reason to claim that no explanation is required to show the situation is dire (as the article does). Quote Link to comment Share on other sites More sharing options...
felix Posted April 9, 2011 Share Posted April 9, 2011 Quote Link to comment Share on other sites More sharing options...
'Bart' Posted April 9, 2011 Share Posted April 9, 2011 ...and once they find out they are not holding anything there will be a panicked stampede into physical, and then you will see $xx,xxx gold. It will literally go vertical. This is what we can never get through to RB. He seems to think that once it is discovered that there's way less of something than people thought, its price will..... go down? Quote Link to comment Share on other sites More sharing options...
200p Posted April 9, 2011 Share Posted April 9, 2011 (edited) Stick your money on "Silver by Nature" at Aintree. You never know! Hi HO Silver! Edited April 9, 2011 by Money Spinner Quote Link to comment Share on other sites More sharing options...
200p Posted April 9, 2011 Share Posted April 9, 2011 STOP PRESS GOLD IS A BUBBLE - OFFICIAL! in the Mail GOLD: Biggest bubble in history http://www.dailymail.co.uk/money/article-1374899/Beware-big-investment-bubbles.html?ito=feeds-newsxml Quote Link to comment Share on other sites More sharing options...
Realistbear Posted April 9, 2011 Share Posted April 9, 2011 (edited) When Northern Rock was found to be in need of a bailout, depositors realised that the bits of paper bearing the bank's name and lists of numbers - we call them "statements" amounted to nothing. They immediaitely demanded their statements be turned into what they supposed to be "the real thing" - ie fiat money of a physical form. They queued down the streets demanding their "money". Of course, all they ever got were cheques, again bearing Nothern Rock's name, and they weren't happy with those either, taking them straight to another bank and exchanging them for that banks statements. Some then withdrew physical money, foregoing interest in favour of 'certainty'. The point was they believed they had money when it was in the bank, when in actuality all they had were bank promises. Their reaction, overwhelmingly, was to demand money. Not shares. Not commodities. Not bonds. Money. It's what they had. It's what they aquired. It's what they wanted. Money was what they thought they had; money was what they wanted. People with gold etfs think they own gold. It's what they think they have acquired. It's what they want. When these holdings prove to be mere promises from 'gold banks' this desire will not suddenly evaporate. They will not suddenly think their aquisition of 'gold' to be a mistake. They will not immediately decide they no longer want to own gold. And they will not decide they'd rather have shares or bonds or fiat money. they will want all the more what they wanted all along. This is probably meant to happen. When panic selling begins it will not be possible to determine which bits of paper represent actual gold. Rather than risk it, the seller will just "sell" and hope to get their investment back. In a PONZI where an item is oversold, perhaps by thousands of times, the entire investment is tainted and the sellers will not take the time to investigate before hitting the sell button. This is why it makes sense to get out long before the herd start to get twitchy. Interesting historical silver chart posted above. Slow depreciation over decades and centuries. My fiat will soon be in a fiat house but at least it provides a roof over the head. Edited April 9, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted April 9, 2011 Share Posted April 9, 2011 This is probably meant to happen. When panic selling begins it will not be possible to determine which bits of paper represent actual gold. Rather than risk it, the seller will just "sell" and hope to get their investment back. In a PONZI where an item is oversold, perhaps by thousands of times, the entire investment is tainted and the sellers will not take the time to investigate before hitting the sell button. This is why it makes sense to get out long before the herd start to get twitchy. Interesting historical silver chart posted above. Slow depreciation over decades and centuries. My fiat will soon be in a fiat house but at least it provides a roof over the head. not a ponzi, a selling of a thing that you dont have. when people demand their gold, they will expect....gold. therefore, if you HAVE gold, you can name your price. Sadly, Government will allow Morgan Stanley to settle their contracts in money.....sorry, we have no PM, heres a cheque. Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted April 11, 2011 Share Posted April 11, 2011 This is probably meant to happen. When panic selling begins it will not be possible to determine which bits of paper represent actual gold. Rather than risk it, the seller will just "sell" and hope to get their investment back. In a PONZI where an item is oversold, perhaps by thousands of times, the entire investment is tainted and the sellers will not take the time to investigate before hitting the sell button. This is why it makes sense to get out long before the herd start to get twitchy. Interesting historical silver chart posted above. Slow depreciation over decades and centuries. My fiat will soon be in a fiat house but at least it provides a roof over the head. I can see what you are saying here, and I can imagine that paper gold will be hit very hard. But how will sellers of physical react - people like Baird, Chard, Hatton, Elm, Atkinson? Let's face it, for the story to play out as you have described, the cause of the rout in paper gold will have to be known: ie that it is not backed by physical. In these circumstances, can you honestly see physical holders picking up the phones and telling Baird to unload their allocated accounts? Can you really imagine people stuffing jiffy bags full of Krugerrands and mailing them off to Elm for summary disposal? More likely unallocated holders will be demanding Baird convert their accounts to allocated accounts. More likely allocated account holders demand physical delivery. What then for prices on the physical dealers' sites? Will they really be slashing bids and offers in the face of clients taking ever closer possession, especially when they will be more aware than anyone of the causes for the flight from paper gold? Clearly not. Indeed, if and when this happens, paper gold will collapse, and the physical dealers will be forcing prices through the roof. And I'll predict one more thing. You will intentionally adopt a selective myopia that allows you only to see the prices of paper gold, and announce without fear of contradiction that you told us so. Quote Link to comment Share on other sites More sharing options...
felix Posted April 25, 2011 Share Posted April 25, 2011 I fully agree with this comment: OK Max, silver is now $ 47.83 as of 24 April 8:47 pm New York time. So does that mean that JP Morgan will start crashing on Monday?ihearttaylorswift87 45 minutes ago Quote Link to comment Share on other sites More sharing options...
Guest spp Posted April 25, 2011 Share Posted April 25, 2011 (edited) I fully agree with this comment: What comment ? Edited April 25, 2011 by spp Quote Link to comment Share on other sites More sharing options...
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