ECON They are breaking the COMEX (silver, gold).

[TheDoberman]

View: https://youtu.be/xjR79laZXxw



Great video on how India and China are buying contracts in the COMEX. These aggressive buys will potentially push the metals up and break the banks shorts on the metals markets. This is one of the most knowledgeable guys I've heard talk about this.

I want to further the discussion with what are you doing? I've been trying to buy as much silver as I can from my local shops. I went to two shops this weekend and one was completely out of generic and American Silver Eagles. The only thing they had was a few expensive, collectable Morgan Dollars. Other than that, they were out. The other store I went to had a few American Silver Eagles that they had purchased from a recent acquisition a day or so before, but they were out of almost everything else. The physical supply is really getting short.

The world monetary systems have been destroyed through excessive printing. I think hard assets(those can be several different things, not debating which is best) are going to be the only thing that can stand through a collapse. What really confuses me is why we have several different countries including the U.N. basically asking us to start printing again. It doesn't seem like we're interested in doing that. I have this belief we are purposefully crushing world monetary systems this time. I think the U.S. knew this would happen and that's why we artificially kept asset prices depressed for decades. Hopefully we have been accumulating under the radar, otherwise we are going to be really screwed.

That's just my take on the situation. I'm interested in hearing yours.

 

[Quiet Man]

We are already seeing premiums on silver as high as 80%. It's likely that COMEX prices will eventually collapse as they increasingly have no metal to deliver. To paraphrase Jim Sinclair: What is a contract to deliver (e.g. silver/gold) worth if it has no metal?

What am I doing? Whenever I have the ability, I buy more silver. Over the years I have accumulated Junk Silver, but the premiums on that and ASEs are very high now. I would recommend maximizing the acquisition of 'ounces' on purchases now. My most recent purchase was for Philharmonics because the premium was relatively very low. My next purchase will probably be for generic 10 ozt. bars. You could also consider acquiring high quality mining stocks, but definitely get the physical certificates in-hand.

 

[biere]

Imagine more than one group wanting a world government. They sometimes disagree on the road to one world government.

 

[TheDoberman]

https://twitter.com/i/web/status/1579472569282895872

View: https://twitter.com/TheInsiderPaper/status/1579472569282895872?t=HbhAwQ5I1lvN7Vfpv-6p1A&s=19


This is just another example of the West losing control. I really don't think it's going to be long before the collapse. I know Russia and China are feverishly working on bringing their asset backed currency to market.

 

[Kathy in FL]

Be careful. Another fiasco could be building with regard to the Hunt Brothers and what they did with silver. If you don't learn from history, you are doomed to repeat it.

 

[tech]

We are already seeing premiums on silver as high as 80%

I am only seeing around 20% premiums... and been pretty consistent.

 

[hiwall]

I just looked at Ampex and the cheapest Silver Eagles were at $36 each when spot price is under $20.

 

[cris52]

I am only seeing around 20% premiums... and been pretty consistent.

Where and what are you getting for 23.65 an ounce.

 

[hiwall]

I see most places want around $5 each for a pre-'65 silver quarter

 

[Southside]

If they are breaking the Comex, I sure don't see it.

 

[1911user]

Where and what are you getting for 23.65 an ounce.

If willing to order online, monument metals has Kg bars of silver for $3/oz. over spot price.

edit- link: Buy Kilo (32.15 Oz) Silver Bars Online

 

[Southside]

I WAS going to say First Majestic Silver(A producer)
But they are now $4.50 over. They were less than that.

 

[hiwall]

I do not buy silver bars or rounds. Only US minted coins from large well-respected dealers.
If it was end times and I was bartering, I would never accept silver bars or rounds.
Most spoken words are now lies. Material goods of all kinds are often fake or not as represented.
I understand if many or most or all of you buy rounds or bars and I bet mostly those are the real deal.
I just choose not to buy them.

 

[Dozdoats]

COMEX contracts = paper, not metal.

 

[Quiet Man]

If it was end times and I was bartering, I would never accept silver bars or rounds.

I agree. Pay for goods with your Junk Silver if that is all that your neighbors value/trust at first. Institutions will recognize bars, generics and other forms that are not coin-of-the-realm as being silver, too (They will have the ability to test it). That might come later once things have begun to stabilize. That's why I would maximize purchases for the most ounces from here on out if you have some Junk or ASEs, etc., already.

ETA: Frankly, though, the point is almost moot as Junk and ASEs are very hard to get in quantity now unless you are willing to pay insane premiums. For perspective: It's not the premiums being crazy-high, it's that the spot-price is crazy-low thanks to COMEX/LBMA/LME price manipulation. Look at it however you choose, but get the most ounces that you can for your FRNs if you see value in having the metal.

 

[tech]

other Where and what are you getting for 23.65 an ounce.

Going for 24.00 currently, up from 22.88/oz ...generic rounds available at same price. ASE are 35.06

 

[tech]

I do not buy silver bars or rounds. Only US minted coins from large well-respected dealers.
If it was end times and I was bartering, I would never accept silver bars or rounds.
Most spoken words are now lies. Material goods of all kinds are often fake or not as represented.
I understand if many or most or all of you buy rounds or bars and I bet mostly those are the real deal.
I just choose not to buy them.

I can understand your position, in that actual coinage is more recognizable. The down side is that there is no guarantee that it is authentic either. ASE are stamped as bullion coins, not currency, even though they indicate "One Dollar" on the reverse.
IMHO, 1 oz of .999 silver is 1 oz of .999 silver.

 

[Quiet Man]

I can understand your position, in that actual coinage is more recognizable. The down side is that there is no guarantee that it is authentic either. ASE are stamped as bullion coins, not currency, even though they indicate "One Dollar" on the reverse.
IMHO, 1 oz of .999 silver is 1 oz of .999 silver.

These are good points. The questions that come to my mind are (1) What is your neighbor likely to trust? Answer: In the US, recognized american coinage is more likely to be trusted, and it is difficult to counterfeit, though there is no guarantee., and (2) What will governments will do? They may attempt to outlaw or confiscate non-US coinage. That said they might attempt to do that with all metals. We don't know. Frankly, I don't care, as I will not submit to such an attempt at theft on their part as their system is dying. Honest money will reign again out of necessity.

ETA: Don't think in terms of one-size-fits-all. Have several options available so that you can be as flexible as possible, and be aware that the situation will change over time.

 

[Southside]

Honest money will reign again.

Quite the comfort to have some.
It will become unobtanium. Certainly at the prices we see today.

 

[TidesofTruth]

View: https://youtu.be/xjR79laZXxw



Great video on how India and China are buying contracts in the COMEX. These aggressive buys will potentially push the metals up and break the banks shorts on the metals markets. This is one of the most knowledgeable guys I've heard talk about this.

I want to further the discussion with what are you doing? I've been trying to buy as much silver as I can from my local shops. I went to two shops this weekend and one was completely out of generic and American Silver Eagles. The only thing they had was a few expensive, collectable Morgan Dollars. Other than that, they were out. The other store I went to had a few American Silver Eagles that they had purchased from a recent acquisition a day or so before, but they were out of almost everything else. The physical supply is really getting short.

The world monetary systems have been destroyed through excessive printing. I think hard assets(those can be several different things, not debating which is best) are going to be the only thing that can stand through a collapse. What really confuses me is why we have several different countries including the U.N. basically asking us to start printing again. It doesn't seem like we're interested in doing that. I have this belief we are purposefully crushing world monetary systems this time. I think the U.S. knew this would happen and that's why we artificially kept asset prices depressed for decades. Hopefully we have been accumulating under the radar, otherwise we are going to be really screwed.

That's just my take on the situation. I'm interested in hearing yours.

The comex has nothing to do with the gold and silver at the local shops. The supply is short because the public is scared. Scared of inflation and scared of war. You have a bunch of yuppy urban dwellers buying up Gold and Silver thinking it is a way to make money and/or as an investment. And asking why they can't purchase for the spot price. STUPID!

Something is quite hinky and blatantly manipulated because the Spots are following the DJIA. That is all messed up. It always used to trend opposite and especially in times of any instability.
The world banks are in a heap of trouble and they are pouring cash into the Dollar and the Market. I personally believe that the CIA and other bad govt actors are destabling European markets to flood the US Markets to prop it up for the elections doing irreparable harm.

 

[OZARK]

My local coin guy told me on Friday that his cost to order Eagles is spot plus $14. He will sell them for a buck or two more

Junk is 20 times face. $200 for a tube of quarters or halves.

 

[Hfcomms]

Be careful. Another fiasco could be building with regard to the Hunt Brothers and what they did with silver. If you don't learn from history, you are doomed to repeat it.

The difference this time is back in the early 80's when the Hunt brothers cornered the silver market silver wasn't in a multi-year supply deficit, the US wasn't 30 trillion dollars in debt, we were not facing war on multiple fronts, a failing economy, a failing financial system, food shortages and supply chain disruptions, ect.

Also with every other asset at or near all time highs both silver and gold which have been the traditional safe havens during financial and economic panics are still well below historic highs even for obtaining physical metal as you can get a real ounce of gold for less than 2K and a real ounce of silver for less than $50 which was close to the all time highs.

I wouldn't play in the Comex or with the contracts but the real thing......yeah!

 

[Kathy in FL]

The difference this time is back in the early 80's when the Hunt brothers cornered the silver market silver wasn't in a multi-year supply deficit, the US wasn't 30 trillion dollars in debt, we were not facing war on multiple fronts, a failing economy, a failing financial system, food shortages and supply chain disruptions, ect.

Also with every other asset at or near all time highs both silver and gold which have been the traditional safe havens during financial and economic panics are still well below historic highs even for obtaining physical metal as you can get a real ounce of gold for less than 2K and a real ounce of silver for less than $50 which was close to the all time highs.

I wouldn't play in the Comex or with the contracts but the real thing......yeah!

The shortage is a new normal and helps to drive the price. It would just be that much easier to "corner the market" in this environment as it was in the 80s.

I am not telling anyone what to do. Heck, no one can tell me what to do. LOL I do think several orders of caution are in order, but that's me. Others are free to do their own thing.

 

[Quiet Man]

Heck, no one can tell me what to do. LOL

Life, liberty and the pursuit of happiness!

 

[Dozdoats]

And the paralysis of analysis always helps ...

Gotta do SOMETHING at some point. Even if it turns out to be wrong.

 

[hiwall]

Most of you know that there are fake Silver Eagles and fake junk silver coins. Fake everything.
That is why I only buy from large trusted dealers.
Real silver quarters contain about $3.60 worth of silver and are selling for $5. A large premium.
Silver Eagles have an even larger premium.
But no matter what you pay at least you will have something that has some value. Can't say that about a ten dollar bill. It might end up being totally worthless.

 

[Kathy in FL]

Life, liberty and the pursuit of happiness!

And the chance to pull opportunity out of failure.

 

[TidesofTruth]

My guy had some stuff today. Came in off the street. He's got an XRF so I know what I'm getting. Today was a bit of a dip so decent price. Monday afternoons are a good time. You have the gambling losses (casino and sports) over the weekend and that is when the traveling PM dealers come around. The whole deal is you have to just get good timing a lot of the time.

 

[Gitche Gumee Kid]

Sure is big mark up for a US monster box vrs other choices
GGK

eta x's3

1. 
   
   
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3. 
   
   
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4. 
   
   
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[Wyominglarry]

Local coins shops are out of silver eagle and Canadian maple Leaf. He said if he had them he would sell out in a day.

 

[oops]

Middle one got a '64 quarter in his change from the store in town...he was walkin tall with a huge smile when he got to the jeep...