Posted on 03/02/2011 7:23:42 PM PST by AK_47_7.62x39
The US can mine more silver.
If we are determined enough (overcome the EPA’s whining), and smart enough(get a Congressional Approval Vote) we still could, I hope the two cases come true. I figure that if there’s enough silver demand, there will be no problem. I was addressing someone else who felt we were running out, even if the worst happens, and we empty all the reserves, we would still not be empty in the sense that there would still be silver reserves elsewhere.
ur right about silver...pretty soon they will want to confiscate it.
Hey there sweet talker. You seem to need to invest in some more comfortable jockeys.
A bit from Harvey Organs daily blog.
They are settling silver futures contracts now for FIFTY DOLLARS AN OUNCE on paper.
Wynter_Benton update on their recent raid
With permission, I can update the results of our raid. It was successful beyond imagination but that “success” has spawned even more questions about the price of paper silver going forward. It was reported by SGS that he heard that on Friday Blythe was offering 30-50 percent premium and that at least 4500 hundred contracts will stand for delivery. I am here to give you a more accurate update (and a first hand account of what happened on Friday Feb 25). Our group was detemined to stand for delivery going into Monday because we were not going to take a 30 percent premium on a price of $33.50. It was reported that Blythe offered 50 percent premium. That was not even close in our case. We got over 80 percent premium. That’s right. Over $50 per contract on the condition that our group sell all our contracts. Our counterparty even threatened us with the ghost of Herstatt. They openly admitted that they could not deliver even 20 million ounces to us but that if we stood for delivery they would be sure that they make delivery to everyone else before they defaulted on us which would make us ‘unsecured creditors’. They told us directly that they could not allow even 5000 contracts to stand for delivery because they could not deliver a mere 20 million ounces. Like Vito Corleone said, “I’m gonna make him an offer he can’t refuse.” And indeed we did not refuse as this was our intention all along.
These sets of facts from our traders lead us to believe that the paper price of silver may have a difficult time surpassing $36 because if the counterparty at the Comex is so willing to pay north of $50 to dissuade people from standing for delivery yet the paper price of silver is still under $35, then we suspect that losses triggered by derivatives is the main reason for the price suppression of silver. We can see no reason why they would not allow the paper price to go up yet are so glad to pay off the comex contracts to show the world that so few are standing for delivery. In our mind, Comex could default with if as little as 4,000 contracts stood for delivery. We are very curious to see how high the paper price of silver actually trades during this run.
Posted by Louis Cypher
Yes, but it is NOT legal tender. It is not a real US coin.
Or find more intelligent people to whom I should repond..... Should I let you know which one I decide?
Sorry Einstein, obviously you were attempting to “repond” to someone else in your “idiot” post as I had never addressed you.
Maybe go back and try again after you get some, if you know what I mean.
you know, you could be right and I could be wrong.
I saw that your original post stated that there weren´t any Hunt brothers this time. I thought, possibly mistakenly, that you were one of those poor souls with no cerebrum and were depending on a stunted cranial neural knob to guide you to imply that because the Hunts were not around to squeeze the market again, there was nothing to worry about. If that had been true, you would deserve all the scorn and abuse appropriate for someone so damn stupid as to post something like that.
however, you may have simply been letting us all know that the Hunt brothers are no longer around and no longer have oodles of cash & rich Saudi friends to force the banks to stop selling mountains of silver they don´t have. If that is all you were saying then yeah, you are not the fvckwit I thought you might be, and hope you will accept this apology, snarky as it may be.
Just got that.
If you call it an apology, snarky or not, so be it.
I’ve been called worse on here anyway.
Live long and prosper.
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